Company Registration No. 01803160 (England and Wales)
BPAS"
BRITISH PREGNANCY ADVISORY SERVICE
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
202212023

Directors Report
2022123 was a year of significant positives and challenges for BPAS, as well as laying the
groundwork for an ongoing program of improvement which continues into 2023124 and beyond.
The impad of the Covid pandemic and the changes which were made at Pa￿ during that period
continued to be felt by the organisation, the wider healthcare system we operate in and beyond.
This report describes the work that we do.
Our Purpose and Aims
Our vision is a future where every woman can exercise reproductive autonomy and is empowered
to make her own decisions about pregnancy. Our purpose is to remove all barriers to reproductive
choice while advocating for, and delivering, high quality women-centred care. This is further
defined by our objects, as set out in our memorandum of association, to:
Advance and promote health and healthcare in relation to sexual and reproductive health,
and all ServI￿S ancillary thereto;
Provide advice, treatment and assistance to the general public on fertility or infertility
including such medical, psychiatric or other treatment (including in vitro fertilisation the
lawful termination of pregnancy) as may be required in connection therewith and othetwise
in the alleviation or relief of ill health or distress with power to establish and operate
(whether alone or in co-operation with any other body or individual) clinical or medical
advisory centres for the benefit of such persons., and
Provide and promote education and research on the subject of fertility, infertility, pregnancy,
the termination of pregnancy and the effects thereof upon women and men whether
physical, medical, psychological, social or othetwise.
Ensuring our work delivers our aims
We review our aims, objedives and activities every year- looking at what we achieved and the
outcome of our work for the previous year. 2022123 this involved a significant period of reflection
and the review and refinement of changes made during the pandemic. This report highlights some
of the outcomes of this process, including the decision to cease providing fertility treatment.
Throughout this process, we have remained focused on our core purpose and how, as an
organisation, we can deliver benefit while maintaining high standards of quality care.
Our Achievements in 2022123
Clinical Care
BPAS is the largest provider of abortions in the UK, with 98 % of our care delivered to NHS funded
patients. In total, in 2022123 we..
Carried out approximately 95,000 early medical terminations. The majority of early medical
abortions were offered with pills by post.
Carried out approximately 14,500 surgical terminations of pregnancy.
Conducted 1,296 vasectomies.
Where our contracts allow, we also offered STI testing and contraception to our temination of
pregnancy clients.
This represents a significant increase in the number of clients seen by BPAS for a termination of
pregnancy, which had an impact both on our income and on the costs of service delivery.

Advoca
In 2022123 we saw the positive impact of our campaigning work.
BPAS led the campaign to protect women's ability to continue to aC￿sS safe, legal at-home
abortions via telemedicine. In March 2020 the government changed the rules on abortion in light of
the pandemic. The new rules meant that women could take both medications for an early medical
abortion (an abortion that happens within the first 10 weeks of pregnancy) at home for the first
time ever. The pills by post seNice was proven to be safe, accessible and effective.
BPAS united with women's rights groups, medical experts, and Baroness Liz Sugg to promote the
continued access to telemedicine for abortion and in March 2022 it was agreed that the change in
the law would become permanent.
Another key campaign that occurred in 202213 was the passing of a law creating buffer zones
around abortion clinics. The presence of anti-abortion protests outside clinics has a significant
negative effect on clients, those attending with them, and on staff. BPAS has been campaigning
since 2014 to gain protection for those attending abortion clinics. In October 2022, a bill was
passed that will create buffer zones around all abortion clinics in England, Wales and Northern
Ireland - although this bill has yet to be brought into effect.
Our Improvement Journey
rovin
Clinical Care
BPAS began 2022123 with a section 31 noti￿ relating to 3 units in the North and the need to
deliver improvements in the quality of care. Supported by the local Independent Commissioning
Boards (ICBS), BPAS worked to develop and deliver a detailed action plan across the three clinics
inspected and the organisation as a whole. This plan, included reviewing our national policies,
improving our documentation, reinstating clinical audits which were suspended during the
pandemic, and undertaking further staff training to ensure that our service delivery always reflects
best practice and policy. Meaning that we could rebuild from the pandemic with robust and
resilient clinics, processes, and policies. We have continued to work with the Care Quality
Commission (CQC) and ICBS over the last year to ensure that they are satisfied with our work and
the evidence-based, woman-centred care that we are committed to providing. Following the
successful completion of the plan, the CQC reinspected all three units and noted dramatic
improvements in care. The section 31 notice was formally removed in October 2022.
Deliverin
Financial Stabili
Following a turbulent period both within and outside BPAS, we fa￿d a number of challenges to
our financial stability during 2022123. These included:
The fledgling BPAS Fertility Service, set-up just prior to the pandemic, continued to operate
at a loss due to delays in establishing the servi￿.
Significant investment into quality improvement was required due to the section 31 notice.
A 14.9 % increase in operating costs over 2021122, due both to the increase in staff required
to deliver the increased workload and inflationary pressures.
A short-fall in the funding provided by commissioners, with some serVI￿S offered at a loss.
As a result, BPAS began an ambitious recovery plan, in order to restore the business to
profitability in 2023124. This recovery plan involved the sale of the fertility business, which was a
drain on resources, a review of back office costs in order to re-align them with the current
operation, the sale and leaseback of a property, and the re-negotiation of contracts with the ICB'S

to reflect the seNice that we are now providing. This recovery plan has been executed
successfully such that continuing operations made a small surplus in the year, and is projected to
make a significant surplus in 2023124 as well.
Governance Im
rovement
In February 2023, BPAS had a responsive well-led inspection which resulted in recommendations
for improvement in the overall governance of BPAS. In June 2023, this was fomialised as a
Section 31 notice.
The Suc￿sS of the financial recovery plan puts BPAS in a strong position to develop its
governance structures in response, to create an organisation that is fit for purpose and delivers for
our clients now and in the future.
Financial Results
Funding is received through fees charged from abortion and other sexual health services provided
to the NHS and a limited number of individual paying clients.
The financial results of the company's activities are summarised on pages 14 to 29.
The net income for the year for continuing operations amounted to £536,000 {2021122 expenditure
£2,091,000). During the year the fertility business was sold and the net expenditure during the
year was £1,230,000 {2021122 £818,000). Total income from continuing operations was
£48,770,000 representing an increase of 21.6% over (2021122 £40,103,000) driven by both
increased volumes of clients seen and successfully increasing the pricing on a number of
contracts, which has continued into 2023124.
Operating costs (Total Resources Expended) from continuing operations were £48,234,000
(2021122 £42,194,000) which was an increase of 14.3 %, as extra staff were need to cope with the
extra volumes together with inflationary increases elsewhere. Investment in quality assurance
continued following the regulatory action of the previous year. During the year the company began
an ambitious recovery plan, in order to restore the business to profitability in 2023124. This
recovery plan involved the sale of the fertility business, which was a drain on resources, a review
of back office costs in order to re-align them with the current operation, the sale and leaseback of
a property, and the re-negotiation of contracts with the ICB'S to reflect the service that we are now
providing. This recovery plan has been executed suc￿sSfUlLY such that continuing operations
made a small surplus in the year, and is projected to make a surplus in 2023124 as well.
The fertility business which in the year had net expenditure of £1,230,000 was sold to a third party
in the final quarter of the year for a loss of £1,510,000.
Net cash provided by activities was £947,000 compared to an out flow of £1,801,000 in 2021122.
The cash inflow together with the net cash proceeds of the sale of the fertility business £186,000.
together with the proceeds of the sale of Fixed Assets £892,000 contributed to capital expenditure
totalling £1,171,000, the largest part of which was Ultrasound scanning machines following a
return to in clinic operations following Covid.
Details of all acquisitions and disposals of fixed assets during the year are recorded in note 5 to
the financial statements.
Total funds £9,906,000 {2021122 £12,036,000) decreased as a result of the net deficit including
discontinued operations of £694,000 (2021122 £2,909,000}, the loss on the sale of the fertility
business £1,510,000 and a gain on the revaluation of freehold properties of £74,000.

Policy on Reserves
The Boards objective is, over a period of time, to generate modest surpluses in order to facilitate
investment in the infrastructure of the Charity, and to develop and maintain sufficient general
reseNes to mitigate cash flow risks and seasonality in the profile of income. The Trustees monitor
the level of reserves and have recognised that reserves have been eroded over previous periods
and have embarked upon a series of actions to improve liquid reseNes. Despite this erosion the
Trustees consider that the current level of reserves at the year end, coupled with the action taken,
to be more than adequate to mitigate cash flows and seasonality of income. Free ReseNes are
negative £4,433,000 (2022- £136,000) and £Nil in Restricted Reserves (2022- £Nil).
The remaining reserves (Revaluation and Designated Resetves) total £14,339,000 (2022-
£11,900,000). In accordance with Charity Commission guidance the BPAS Board operates a Risk
Based policy that enables the charity to safely reduce designated reserves, when appropriate, in
order to invest in solutions and projects recommended in the Strategic Risk Register.
Risk Management
The trustees have considered the major risks to which the Charity is exposed, in particular these
related to operations and finances of the Charity, and believe there are adequate systems in place
to manage the exposure of major risks. These risks include:
Credit and liquidity risk, which is mitigated by payment being received in advance from
some customers, a renegotiation of contracts with customers, as well as an agreed
overdraft facility.
An unstable economic climate and the drive down of costs in the NHS, together with
competitive pressure which is mitigated by continually reviewing service delivery and
implementing efficiency savings across the servi￿.
Increased regulatory pressure as evidenced by the recent Well-Led inspection from the
Care Quality commission.
Changes in the law relating to abortion, which is mitigated by working with and educating
the policy makers, The Trustees Risk Assessment Document is updated regularly and was
last updated in September 2023.
Going Concern
The Trustees have revisited their going concern assessment in both February and September
2023, particularly assessing the effects of the business improvement plan, which was drawn up to
focus the organisation on its core abortion service. This plan involved the organisation divesting
itself of the fertility business, which happened in the final quarter of 22123, saving £1,200,000 per
annum, reducing its back office costs by £1,200,000 per annum, the sale and lease back of the
Bournemouth property, and a comprehensive review of pricing across the whole of the customer
base, The recovery plan was approved by the board on 1st September 2022. This plan has been
successfully delivered and will return the organisation to a significant surplus in 2023124, and will
increase liquid reserves to acceptable levels.
A number of different scenarios were modelled between +50/0 and -10 % income over the forecast
period up to March 2025 and their effect on the financial results, cash flow and cash requirements
reviewed. The Trustees feel that within the most likely range of S￿narioS that continuing prudent
financial control together with the continued support of its bankers, who have renewed the
overdraft facility until February 2024, will ensure that BPAS continues to operate within its financial
resources. The trustees feel that following successful delivery of the recovery plan, that it should
not need to use its overdraft facility for the foreseeable future, although it will remain as an

insurance. The Trustees consider that this should be sufficient to ensure that the Charity will
continue to operate and meet its liabilities as they fall due for payment throughout the forecast
period, which is a period of at least 12 months from the signing of the accounts.
Following the successful completion of the Business Transformation Plan, BPAS underwent a
well-led inspection by the Care Quality Commission. The report, which was published in June
2023, highlighted a number of areas where improvements in risk escalation and governan
needed to be improved. BPAS has been implementing a number of changes and is undertaking a
comprehensive review of its structures to ensure the organization can deliver on its remit of
providing both high quality healthcare services to increasing numbers of women and achieve
broader advocacy and Gampaigning goals for its beneficiaries. The Board of Trustees will
consider recommendations for a refreshed structure in December 2023.
All of the above have enabled BPAS to improve both operationally and especially financially and is
already seeing a return to significant reserve growth in 2023124, which will ensure the financial
viability going fotward.
No￿lthstanding that the Trustees recognise that there remains a degree of uncertainty following
the regulatory change, and ongoing inflationary pressures, however this does not pose a material
uncertainty that would cast doubt on the Charity's ability to continue as a going concern. After
considering the projections of cash flow and profitability to support cash balances the Trustees
have a reasonable expectation that the charity will have adequate resources to continue for the
foreseeable future, which is for a period of at least 12 months from the signing of these accounts.
For this reason it continues to adopt the going Concern basis in financial statements.
structure, Management & Governance
Directors and Trustees..
Dame Professor Cathy Wa￿1Ck (Chair)
Dr Lucy Moore (Executive Chair Designate 117123)
Graham Colbert
Sam Smethers
Professor Dame Lesley Regan (Resigned 113123)
Dr Sheelagh McGuinness
Debra Holloway (appointed 1013123)
Professor lain Cameron
Sanjay Shah
Anne Shevas
Dr Jane Stewart (Resigned 1519123)
Natasha Walton
Siobhan Kenny
BPAS is governed by tts memorandum and articles of association dated 26th March 1984 and last
updated by special resolution on 15th March 2022.
BPAS is constituted as a company limited by guarantee, each director and Trustee guarantees a
sum not exceeding £10 during their membership and for one year thereafter.
The role of the Board is specifically to direct and oversee the strategy and operations of the charity
whilst delegating the day-to-day operations to the executive leadership team, the Trustees meet
formally at least 3 times a year.

Decisions are made at either a full Trustee meeting or via discussion and agreement between
formal meetings. Vvhere it is more appropriate for a smaller group of Trustees to meet and agree
on more specialist subjects, then a Trustee sub-committee is mandated to make decisions outside
of the full board. Following an external review of the Board structure and operations a key sub-
committee has been fomed for finance & risk.
In May 2023 the Trustees approached the Charity Commission to seek pemiission to appoint a
paid executive chair to deliver the improvement plan required following the Well Led inspection,
this was approved by the Charity Commission in November 2023.
Key management remuneration is set by a board sub-committee based upon reviews of market
rates along with recruitment and retention requirements.
BPAS recruits and appoints new Trustees by either advertising or approaching prospective
Trustees in person. Following initial recruitment and evaluation the prospective Trustee is
interviewed by a panel consisting of 3 Board members, one of which is the chair. They are formally
appointed and start their term of office at the Board meeting following their appointment. Whilst in
post, Trustees are subject to an ongoing structured training and assessment programme
concentrating on Trustee duties, responsibilities and conduct.
Chief Executive Officer
Clare Murphy
Senior Officers
Charles Scott (Deputy CEO, support services -resigned July 2022)
Dr Patricia Lohr
Rosemary Cutmore (National Business Development Director)
Michael Nevill (Director of Client Experience- Resigned October 2022}
Jill Craig (Director of IT-Resigned October 2022)
Marta Jansa-Perez (Director of Embryology-Resigned January 2023)
Donagh Stenson (Director of Marketing & Innovation - Resigned September 2023)
Stephen Franklin (Secretary & Director of Risk & Compliance - Resigned September 2023)
Joanne Deans (Director of HR}
Cheryl Crosby (Director of Operations)
Rachael Clarke (Chief of Staffj
Rachael Greshon (Director of Nursing, Midwifery and Quality)
Simon Marsh (Interim Deputy CEO- appointed September 2022)

Registered Office:
Orion House
2 Athena Drive
Tachbrook Park
Leamington Spa
CV34 6RQ
Company Number 01803160
Registered Charity 289145
Reference & Administrative Details
Auditor
BDO LLP
Chartered Accountants and Registered Auditors
Two Snow Hill
Birmingham
B4 6GA
Bankers
HSBC Bank PLC
6th Floor
120 Edmund Street
Birmingham
B3 2QZ
Principal Solicitors
Reynolds Porter Chamberlain
Tower Bridge House
St Katherine's Way
London
E1W1AA

Trustees Responsibilittes
The Trustees are responsible for preparing the Annual report and the financial statements in
accordance with applicable law and regulations.
Company Law requires the Trustees to prepare financial statements for each financial year in
accordance with United Kingdom Generally Accepted Accounting Practice {United Kingdom
Accounting Standards and applicable law). Under Company law the Trustees must not approve
the financial statements unless they are satisfied that they give a true and fair view of the state of
affairs of the charity and of the incoming resources and application of resources, including the
income and expenditure, of the charty for that period. In preparing those financial statements, the
Trustees are required to=
Select suitable accounting policies and then apply them consistently.
ObSe￿e the methods and principles in the applicable Charities SORP.
Make judgements and accounting estimates that are reasonable and prudent.
State whether applicable UK accounting standards have been followed, subject to any
material 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 adequate accounting records that are sufficient to show
and explain the charity's transactions and disclose with reasonable accuracy at any time the
financial position of the charity and enable them to ensure that the financial statements comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity
and hence taking reasonable steps for the prevention and detection of fraud and other
irregularities.
This report was approved by the board on 8th December 2023 and signed on its behalf by
Lucy Moore-Executive Chair of Tr
stees.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BRITISH PREGNANCY
ADVISORY SERVICE
Opinion on the financial statements
In our opinion, the financial statements:
give a true and fair view of the state of the Charitable Company's affairs as at 31 March 2023
and of the its incoming resources and application of reSoUr￿S for the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements of The British Pregnancy Advisory Service for the
Prevention of Accidents ("the Charitable Company") for the year ended 31 March 2023 which
comprise the statement of financial 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 in their preparation is applicable law and
United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial
Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS {UK})
and applicable law. Our responsibilities under those standards are further described in the
Auditor's responsibilities for the audit of the financial statements section of our report. We believe
that the audit eviden￿ we have obtsined is sufficient and appropriate to provide a basis for our
opinion.
Independence
We remain independent of the Charitable Company in accordance with the ethical requirements
that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements.
Conclusions related to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating
to events or conditions that, individually or collectively, may cast significant doubt on the
Charitable Company's ability to continue as a going concern for a period of at least ￿e1ve months
from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are
described in the relevant sections of this report.

other information
The Trustees are responsible for the other information. The other information comprises the
information included in the Trustees. Report, other than the financial statements and our auditor's
report thereon. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of
assurance conclusion thereon. Our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in the course of the audit, or othemise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to detemine whether this gives rise to a material misstatement in the financial statements
themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Other Companies Act 2006 reporting
In our opinion, based on the work undertaken in the course of the audit=
the information given in the Trustees, Report, which includes the Directors, Report and the
strategic report prepared for the purposes of Company Law, for the financial year for which the
financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors, Report, which are included in the Trustees, Report, have
been prepared in accordance with applicable legal requirements.
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 misstatement in the Strategic
report or the Trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies
Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the Charitable Company, or returns
adequate for our audit have not been received from branches not visited by us., or
the Charitable Company financial statements are not in agreement with the accounting records
and returns., or
certain disclosures of Directors, remuneration specified by law are not made-, or
we have not received all the information and explanations we require for our audit.
10

Responsibilities of Trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the
directors of the charitable company for the purposes of company law) are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view,
and for such internal control as the Trustees detemiine is necessary to enable the preparation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charitable
Company's ability to continue as a going concern. disclosing, as applicable, matters related to
going concern and using the going con￿rn basis of accounting unless the Trustees either intend
to liquidate the Charitable Company or to ￿ase operations, or have no realistic alternative but to
do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under the Companies Act 2006 and report in accordan￿ with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are InStan￿S 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, incSuding fraud. The extent to which our procedures are
capable of detecting irregularities, including fraud is detailed below:
Non-compliance with laws and regulations
Based on".
Our understanding of the Charitable Company and the sector in which it operates.,
Discussion with management and those charged with governan￿., and
Obtaining an understanding of the Charitable Company's policies and procedures regarding
compliance with laws and regulations.,
we considered the significant laws and regulations to be the Charities SORP (FRS 1021
second
edition and the Financial Reporting Standard 102 The Financial Reporting Standard applicable in
the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The Charitable Company is also subject to laws and regulations where the Consequen￿ of non-
compliance could have a material effect on the amount or disclosures in the financial statements,
for example through the imposition of fines or litigations. We identified such laws and regulations
to be health and safety legislation and dats protection.
Our procedures in respect of the above included..
Review of minutes of meeting of those charged with governance for any instances of non-
compliance with laws and regulations;
Review of correspondence with regulatory for any InStsn￿$ of non-compliance with laws
and regulations.,

Review of financial statement disclosures and agreeing to supporting documentation.
Fraud
We assessed the susceptibility of the financial statements to material misstatement, including
fraud. Our risk assessment procedures included:
Enquiry with management, those charged with governance and the Audit Committee
regarding any known or suspected instances of fraud;
Obtaining an understanding of the Charitable Company's policies and procedures relating
to:
Detecting and responding to the risks of fraud., and
Internal controls established to mitigate risks related to fraud.
Review of minutes of meeting of those charged with governance for any known or
suspected instances of fraud.,
Discussion amongst the engagement team as to how and where fraud might occur in the
financial statements., and
Performing analytical procedures to identify any unusual or unexpected relationships that
may indicate risks of material misstatement due to fraud.
Based on our risk assessment, we considered the area's most susceptible to fraud to be the
posting of inappropriate journal entries to manipulate financial results and management bias in
accounting estimates.
Our procedures in respect of the above included..
Testing a sample of journal entries throughout the year, which met a defined risk criteria, by
agreeing to supporting documentation., and
Assessing significant estimates made by management for bias, including the determination
of useful economic life of fixed assets, the basis of going concern assumptions and the
assumptions applied in the valuation of freehold land and buildings.
We also communicated relevant identified laws and regulations and potential fraud risks to all
engagement team members and remained alert to any indications of fraud or non-compliance with
laws and regulations throughout the audit.
Our audit protsdures were designed to respond to risks of material misstatement in the financial
statements, recognising that the risk of not detecting a material misstatement due to fraud is
higher than the risk of not detecting one resulting from error, as fraud may involve deliberate
concealment by, for example, forgery, misrepresentations or through collusion. There are inherent
limitations in the audit procedures performed and the further removed non-compliance with laws
and regulations is from the events and transactions reflected in the financial statements, the less
likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located at the
Financial Reporting Council's ("FRC's") website at:
htt s:Ilwww.frc.or
.uklauditorsres
onsibilities. This description forms part of our auditorfs report.

Use of our report
This report is made solely to the Charitable Company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the Charitable Company's members those matters we are required to state to them
in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the Charitable Company and the Charitable
Company's members as a body, for our audit work, for this report, or for the opinions we have
formed.
Do¢uS*ned by..
FC86A1A5C4FO4ES
Samantha Lifford (Senior Statutory Auditor)
For and on behalf of BDO LLP, statutory auditor
Birmingham, UK
Date 12 December 2023
BDO LLP is a limited liability partnership registered in England and Wales (with registered number
OC305127).
13

STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating an Income & Expenditure Account)
FOR THE YEAR ENDED 31 MARCH 2023
Contlnuing
Operations
Discontlnued
Operntion5
Total Continuing Continuing
Operations Operatlons
Restricted
Discontinued
Operations
Total
022
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
INCOME:
Incoming from:
Donatsonsand
Legat7es
Grhnts
128
128
64
23
23
115
115
Incoming from
charitable
acbwties..
Fees for
48,594
72
48,666
39,399
ioj
39,500
Profit on sale of
Fixed Assets
25
25
525
525
Total Income
48,770
72 48,842
39,988
115
loi
40,204
EXpEND￿uRE
ON..
Charitable
Activities..
AdvKe,
Treatsnentand
Care
44.931
1,302
46,233
39,917
115
919
40,951
Education ènd
Research
3,303
3,303
2,162
2,162
Total
ReSoUr￿S
Eypended
(Loss on
dispcisal of
operab"ons}
Net Income
{EYFenditure)
48,234
1,302 49,536
42,079
115
919
43,113
(1,510) (1,510)
536
(1740) {2,204)
(2,091)
(818) (2,909)
Gains on
revaluation:
Unrealised
74
74
Net movement
in fund5
610
{2,740) {2,130}
(849)
(818) (1,667)
Fund Balances
bought forward
l April
Fund Balances
carried fomard
31 March
12,854
{818)
12,036
13,703
13,703
13,464
(3,558)
9,906
12,854
(818)
12,036
Al gains and losses recognised in the year are included in the Statement of Financial Activities.
14

BALANCE SHEET {Company No. 01803160)
AS AT 31 MARCH 2023
202
02
ED
Tangible Assets
9,042
12,319
9,042
11319
CURRENT AS
ETS
Str£k
909
1,068
5,408
43
Debtors
5,990
Cash at bank & in hand
6,907
6,519
CREDITORS
Amounts falling due
within one year
(4,944)
(6,641}
NET CURRENT
Ass￿S/(LIABIL1TIES}
1,963
(122)
EDIT
Amounts falling due over
one year
Provislons
(487)
{612)
(161)
NEr
SSET
9,906
12,036
ESERVES
Revaluation
Designated
General
Restrirted
12
13
14
15
3,954
10,385
(4,433)
4,719
7,181
136
TAL
9,906
12,036
The notes on pages 17 to 29 fom part of these financial statements.
Approved by the Board on 08112123 and signed on its behalf:
Lucy Moore- Executive Chair

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
£'ooo
£'ooo
Net cash provided by (used In) operating activities
947
(1,801)
Cash flows from Investing activities
Net Cash Pro￿edS from sale of discontlnued operations
Purchase of property, plant and equipment
Proceeds from sale of propertyi plant and equipment
Net cash (used in)Iprovided by investing activities
186
(1,171)
892
(2,518)
(93)
1075
Cash flow from financing activities
Repaymer¢t of Loans
Net cash (used in) finanang activities
19
Change in cash and cash equivalents In the year
Cash and cash equivalents at the start of the year
CAsh and cash equivalents at the year end
854
(1,218)
(364)
1,827
(1,218)
The notes on pages 17 to 29 form part of these financial statements.
16

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023
2023
£'ooo
2022
£'ooo
conciliation of net Income
cas
flow from o
eratin
ex
iture
to
Net (expenditure) for the year
Adjustments for:
Loss on disposal of discontinued operations
(2,204)
(2,909)
1,510
DeP￿latIOn
1,833
1,310
Decrease/(Increase) in Stocks
iio
(987)
(Increase)IDecrease in debtors
(582)
394
(Decrease)/Incre3se in creditors
(307)
916
InC￿se in Provisions
612
(Profit) on sale of Fixed Assets
(25)
(525)
Net cash provided by (used In) operatlng activities
947
Analysis of Net Debts
31
March
2023
£'ooo
April
2022
£'ooo
Cash
Flows
£'ooo
Cash at Bank and in hand
43
(35)
Bank Overdraft
261
889
37
Totsl
April
2021
£'ooo
Cash
Flows
£'ooo
31
March
2022
£'ooo
Cash at Bank and in hand
1,827 (1,784)
43
Bank Overdraft
(1,261) {1,261)
Bank Loans
Total
726

I. ACCOUNTING POLICIES
A) Basis of Accounting
The financial statements have been prepared in accordan￿ with the Companies Act 2006,
applicable accounting standards on the going concern basis, and under the historic cost
convention, as modified for the market value of investments and freehold land and buildings. The
accruals concept of accounting is used throughout. The trustees consider there are no material
uncertainties about the charity's ability to continue as a going concern. The financial statements
also comply with best practi￿ as recommended by the Statement of Recommended Practice
SORP 2015 (FRS102), issued by the Charity Commission.
The Financial statements have been prepared on a going concern basis.
The Trustees have revisited their going con￿rn assessment in both February and September
2023, particularly assessing the effects of the business improvement plan, which was drawn up to
focus the organisation on its core abortion seNice. This plan involved the organisation divesting
itself of the fertility business, which happened in the final quarter of 22123, saving £1,200,000 per
annum, reducing its back office costs by £1,200,000 per annum, the sale and lease back of the
Bournemouth property, and a comprehensive review of pricing across the whole of the customer
base, The recovery plan was approved by the board on 1st September 2022. This plan has been
successfully delivered and will return the organisation to a significant surplus in 2023124, and will
increase liquid reseNes to aC￿ptable levels.
A number of different scenarios were modelled be￿een +5 % and -10 % income over the forecast
period up to March 2025 and their effect on the financial results, cash flow and cash requirements
reviewed. The Trustees feel that within the most likely range of scenarios that continuing prudent
financial control together with the continued support of its bankers, who have renewed the
overdraft facility until February 2024, will ensure that BPAS continues to operate within its financial
resources. The trustees feel that following successful delivery of the recovery plan, that it should
not need to use its overdraft facility for the foreseeable future, although it will remain as an
insuran￿. The Trustees consider that this should be sufficient to ensure that the Charity will
continue to operate and meet its liabilities as they fall due for payment throughout the forecast
period, which is a period of at least 12 months from the signing of the accounts.
Following the successful completion of the Business Transformation Plan, BPAS underwent a
well-led inspection by the Care Quality Commission. The report, which was published in June
2023, highlighted a number of areas where improvements in risk escalation and governan
needed to be improved. BPAS has been implementing a number of changes and is undertaking a
Comprehensive review of its structures to ensure the organization can deliver on its remit of
providing both high quality healthcare services to increasing numbers of women and achieve
broader advocacy and campaigning goals for its beneficiaries. The Board of Trustees will
consider recommendations for a refreshed structure in December 2023.
All of the above have enabled BPAS to improve both operationally and especially financially and is
already seeing a return to significant reserve growth in 2023124, which will ensure the financial
viability going fo￿ard.
Notwithstanding that the Trustees recognise that there remains a degree of Un￿rtaintY following
the regulatory change, and ongoing inflationary pressures, however this does not pose a material
uncertainty that would cast doubt on the Charity's ability to continue as a going concern. After
considering the projections of cash flow and profitability to support cash balances the Trustees
18

have a reasonable expectation that the charity will have adequate reSoUr￿S to Continue for the
foreseeable future, which is for a period of at least 12 months from the signing of these accounts.
For this reason it continues to adopt the going concern basis in financial statements.
BI Income & Expenditure Account
BPAS has not published a separate Income and Expenditure Account as the Statement of
Financial Activities complies with FRS 102 and is equivalent.
All income is derived in the United Kingdom.
C) Incoming Resources & Resources Expended
Incoming reSoUr￿S are analysed according to the activity that produces the resources. They are
recognised on a receivable basis. Income generated in furtheran￿ of the charity's objectives is
based on fees for the provision of reproductive health services. Income from activities for the
generation of funds comprises investment income and donations which are also recognised on a
receivable basis.
Resources expended are ana5ysed according to the activity to which it relates on an accruals
basis.
Governan￿ costs include audit costs, governance meeting expenses and legal advice to the
trustees,.
Grants are accounted for on an accruals basis.
VAT is not recovered due to the nature of the services provided by the organisation and
hence is an irrecoverable cost.
D) Land and Buildings
FRS 102 requires fixed assets that are carried at re-valued amounts to be shown at their current
value at the balance sheet date. To achieve this land and buildings are subject to valuations
carried out on a rolling basis, by an independent valuer over a five-year period, unless a more
frequent valuation is required to reflect material changes in the property market.
BPAS continues to apply a policy of regularly testing the assets for impairment.
E) Fixed Assets and Depreciation
BPAS has a policy of capitalising individual equipment purchases over £5,000 unless the
equipment is part of the infrastructure of the building.
BPAS has a policy of capitalising improvements to short-term leasehold premises where these
improvements make the property fit for use.
Depreciation of Fixed Assets is on a straight-line basis calculated on annual rates to write off each
asset over the term of its estimated useful life. The depreciation charge is adjusted to actual in the
year of disposal.
19

The estimated lives in use are as follows..
Motor vehicles
5 years
Medical equipment
5 to 10years
Fittings & Office equipment
5 years
IT Infrastructure
5 years
IT Hardware
5 years
Freehold Buildings
Freehold Land is not depreciated
50 years
Short leasehold premises improvements are depreciated over the term of the lease.
F) Stocks
Stocks have been valued at the lower of cost or net realisable value after making due
allowance for obsolete items. Stock consists of medical consumables and accordingly no
overheads are included in the stock valuation.
G) Debtors
Where clients underLgke to repay fees over an extended period and find themselves unable to
Continue repayments, the balance is written off. A provision is made for clients who may be unable
to repay loans outstanding at the end of the financial period.
H) Repairs and Renewals
These are charged to the Statement of Financial Activities in the year in which expenditure is
incurred.
l) Foreign Exchange
BPAS aC￿ptS payment in both sterling and euros. Translation of euro transactions is undertaken
monthly with foreign exchange gains and losses being recognised when realised.
Foreign currency monetary assets and liabilities are translated at the rates ruling at the balan
sheet dates. Any differences are taken to the Statement of Financial Activities
J) Pensions Costs
The Charity operates a defined contribution scheme to which all employees are auto- enrolled and
costs are accounted for in the year in which they occur.
K) Fund Accounts
The charity has created designated funds in order to ring fence the historic value of Land &
Buildings, and restricted funds in relation to grants re￿iVed for specific purposes.

L) Leased Assets
Where assets are financed by leasing agreements that give rights approximating to ownership
(finance leases), the assets are treated as if they had been purchased outright. The amount
capitalised is the present value of the minimum lease payments payable during the lease term.
The corresponding lease commitments are shown as amounts payable to the lessor. Depreciation
on the relevant assets is charged to the income and expenditure account.
Lease payments are analysed between capital and interest components. The interest element of
the payment is charged to the income and expenditure account over the period of the lease and is
calculated so that it represents a constant proportion of the balance of capital repayments
outstanding. The capital part reduces the amount payable to the lessor.
All other leases are treated as operating leases. Their annual rentals are charged to the income
and expenditure account on a straight-line basis over the term of the lease.
M) Judgments in applying accounting policies and key sources of estimation
In preparing these financial statements, the trustees have made the following Judgements:
Determine whether leases entered into by the charity either as a lessor or a lessee are
operating or finance leases. These decisions depend on an assessment of whether the
risks and rewards of ownership have been transferred from the lessor to the lessee on
a lease by lease basis, and to whether any dilapidations are required as a result of these
leases. Any dilapidations that are considered necessary by the Trustees at this time. are
included in these accounts.
Determine whether there are indicators of impairment of the company's tangible
assets. Factors taken into consideration in reaching such a decision include the
economic value in use, whether there are expected future cash flows to be created
by the entity, and whether there is any evidence of obsolescence or damage.
As described in Note 1 D) above the Charity obtained independent third party property
valuations from KWB Property Management Limited. On the basis of the information provided
the Trustees consider that there is sufficient information available to measure the value of
freehold land and buildings at the balance sheet date.
N) Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at settlement value.
O) Provisions
The Charity provides for the uninsured amount of any medical malpractice claims as soon as it
becomes aware of such a claim, the amount provided is based upon an assessment of how likely
the claim is to be successful.

NOTES TO THE FINANCIAL STATEMENTS
2. CHARITABLE EXPENDITURE
BPAS is a charity that provides abortion advice, treatment and care services to clients and its
resources expended are directly related to the provision of these services except costs incurred for
education & research, administrative costs necessarily incurred in running the charity- Support
costs have been allocated to activities on the basis of staff time incurred to support of the activity,
costed on a full cost basis.
Advice, treatment and care costs for continuing operations include the following:
2023
2023
2022
2022
£'oo
£'ooo
.00
Total
Sekvice Head Offi
Provislon
& Support
5,248
2023
£'ooo
2022
Serrfice Head office
Prov15ion
&Support
4,828
Total
30,272
21,174
26,422
Salaries, F&s &
Related Stsff Costs
Consumables
Infrastrurture Costs
25,444
5,097
6,684
37,225
The 2022 costs were mis-categorised and have been restated to the correct amount. The total of
Salaries Fees & Related costs have decreased by £5,983,000 and the Infrastructure costs
increased by £5,983,000.
The correction of the mis-categorisation to infrastructure costs has increased the amount allocated
to SeNice Provision costs by £3,906,000 and Head office & support by £2,077,000. The
correction to Salaries Fees & Related costs has decreased the amount allocated to Head Office &
Support costs by £5,983,000.
Education and Research costs include:
2023
2023
£'oo
.00
31
5,128
10,833
46.233
3,922
6,819
31,915
3,922
10,607
40,951
4,149
9,008
3,788
9,036
2022
£'ooo
Total
2023
'ooo
Total
2022
2022
£'ooo
Service Head Office
Provision
&Support
737
servi￿ Head office
Provislon
& Support
965
Salaries, Fees &
Related Staff Costs
Consumables
Infrastructu￿ Costs
1,917
2,882
1,016
1,753
70
24
30
28
42
47
320
367
18
321
339
1,988
1,315
3,303
1,062
I,ioo
l162
Governance Costs
Included in at)ove
2023
£'oo
2022
£'ooo
Audit
65
39
Meeting expenses
Legal
17
16
167
236
72
Amounts paid under operating leases was £2,022,000 (2022 £2,029,000).
22

3. STAFF COSTS
2023
2022
'ooo
Wages & Salaries
Social Security Costs
Other Pension Costs
26,291
2,645
22,715
2,150
Included in the above are redundancy payments of £184,000 (2022- £121,000).
20
Average monthly number of full and part time
employees during the year:
Advitr Treatment & Ca
837
793
Education & Research
39
898
Due to the large number of part time employees
of the charity this equates to contracted whole
time equivalents:
The number of employees earning over £60,000 p.a. excluding pension contributions, was:
647
574
2022
£60,001- £70,000
11
13
£70,001- £80,000
£80,001- £90,000
£90,001- £100,000
£ioo,ooi £iio,000
£110,001- £120,000
£120,001 £130,000
£130,001- £140,000
É140,001- £150,000
£150,001- £160,000
£160,001- £170,000
£170,001- £180,000
Pension contributions for the above staff amounted to £341,000 (2022 - £179,000).
During the year no Trustees, or any persons connected with them (other than those disclosed in
Note 20), have re￿iVed any remuneration during the year. During the year the Charity made no
pension payments on behalf of the Trustees.
Aggregate remuneration of key management personnel was £1,394,000 (2022-£1,430,000) with
pension contributions of £171,000 {2022-£106,000). One member of key management was paid
as a contractor, and not through the payroll. Re-imbursement of expenses, which are subsistence
costs, incurred by all the Trustees in attending meetings totalled £3,000 (2022 - £1,000)-

4. PENSIONS
The Charity operates a defined contribution scheme. The assets are held separately from those of
the charity in independently administered funds. Contributions payable by the Charity to the fund
amounted to £1,603,000 (2022 £1,364,000). Employee Group Personal Pension Contributions
between 10/0 and 50/0 attract an employer contribution be￿een 10/0 and 70/0 Wlth BPAS covering the
administration expenses and the cost of death in service benefits. This scheme is stakeholder
compliant and is open to all contracted members of staff. Contributions amounting to £185,000
(2022 - £185,000) were payable to the fund and are included in creditors.
5. TANGIBLE FIXED ASSETS
Freehold
Land &
Buildings
Short
Leasehold
Land &
Buildings
.00
Motor
Vehicles
Equipment
Total
'oo
£'oo
£'oo
'oo
Co
or Valua
ion
5,750
3,546
258
525
11,186
913
21,007
1,171
(3,952)
25
At l April 2022
Addltions
Disposals
Revaluations
At 31 March 2023
tio
(850)
25
(1,454)
(104)
(1,544)
421
De
rec
2,025
351
6,312
8,688
At l April 2022
On disposals
(6)
(569)
(91)
(1,263)
(597)
1,459
260
59
1,833
(49)
Charge for the year
Revaluations
55
(49)
At 31 March 2023
319
Writte
1,521
4,874
12,319
At 31 March 2022
5,750
174
At 31 March 2023
a) Land and Buildings included at valuation would have been included on an historical value basis
at £986,000 (2022- £1,217,000).
b) All of the freehold land and bui5dings were re-valued in the year. These valuations were
undertaken by a professional firms of chartered surveyors", KWB Property Management
Limited.
634
102
24

6. STOCKS
2023
.00
2022
Medical Consumables
909
7. DEBTORS
2023
'oo
2022
'oo
Trade Debtors
Prepayments & Acctijed Income
4,114
1,876
3,843
1,565
All amounts fall due within one year.
8. CREDITORS
2023
'ooo
2022
Amounts falling due within one year:
Trade Creditors
Taxation & Social Security
Accruals and deferred Income
Obligation under FInan￿ lease5
Bank Overdraft
2,213
838
1,718
882
1,820
152
2,222
107
372
1,261
2023
£'ooo
2022
Amounts falling due over one year:
Obligations under Finan￿ lease5
161
487
161
9. PROVISIONS
2023
Transferred from Accruals
Paid during the year
New provislons made
Closing Balance 31 March 2023
487
291
416
The provisions relate to the uninsured part of claims and potential claims under our indemnity insurance, an amount of
£487,000 was included in acfflials in 2022.

10. BANK ACCOUNT
An overdraft facility agreed by the Charity with its bankers was secured by way of a debenture
comprising fixed and floating charges over all of the assets and undertaking of the Charity, as well
as first legal charge over one of the freehold properties.
11. TAXATION
The charitable company meets the definition of a charity in schedule 6 Finance Act 2010 and
accordingly is entitled to exemptions set out in Part 11 Corporation Tax Act 2010 and section 256
Taxation of Chargeable gains Act 1992 to the extent that its income and gains are applied for
charitable purposes.
12. REVALUATION RESERVE
During the year the revaluation reserve has decreased from £4,719,000 to £3,939,000. Due to the
sale of one freehold property. During the year all of the freehold properties were re-valued.
2023
2022
£'ooo
£'oo
Balance at l April
4,719
4,863
Movement in Funds
Depreciatlon of Buildings
Disposal of revalued property
Revaluation of PrOFE￿e5
Balance at 31 March
(41)
(36)
(798) (1,350)
74
13. DESIGNATED RESERVE
2023
£'ooo
2022
£'ooo
Balance at l April
Movement in Funds
Transfer From General Reserve
7,181
6,050
3,204
1,131
Balance at 31 March
in accordan￿ with Charity Committee guidance the BPAS board operates a risk based policy that
enables the Charity to safely reduce designated reserves in order to invest in solutions and projects
recommended in the Strategic Risk Register.

14. GENERAL RESERVES
2023
£'oo
2022
Balan￿ at l April
Realised deficit for the year
Transfer from revaluation reserve (note 12)
Transfer to deslgnated reserve (note 13)
136
2,790
(2,909)
1,386
(1,131}
(2,130)
765
(3,204)
Balance at 31 March
(4,433)
136
15. RESTRICTED RESERVE
2023
2022
.00
Balance at l April
Grants Received
115
R￿oUrceS expended
(115)
Balan￿ at 31 March
16. INDEMNITY INSURANCE
BPAS carries indemnity insurance cover for all employees providing protection for BPAS against
mainly medical negligence claims up to a limit of £10 million at a cost of £405,OOOp.a. (2022 -
£245,000) A separate policy provides Directors and Offi￿rS indemnity cover of £3 million at a
cost of £6,OOOp.a. (2022-£6,000)
17. COMMITMENTS UNDER OPERATING LEASES
The company had commitments under non-cancellable operating leases as set out below.
Land &
Land &
Buildings
Buildings
2023
2022
others
2023
'ooo
others
2022
£'ooo
Operatlng leases which expire:
Within one year
In Iy40 to five years
After five years
1,761
2,198
853
137
1,744
3,601
104
548
23
708
104
27

8. MEMBERS LIABILITY
BPAS does not have share capital and each directorlmember guarantees a sum not exceeding
£10 during his or her membership and for one year thereafter.
19. AUDITOR REMUNERATION
Auditor's remuneration for the year was £65,000 (2022-£39,000) for audit ServI￿S and £Nil (2022-
£Nil) for non-audit services.
20. RELATED PARTY TRANSACTIONS
There were no related party transactions in the year, the Charity purchased goods and seNices of
£51,000 from Group Anaesthetic servI￿s LLP (a supplier of anaesthetic services) in 2022, in
which one of the Trustees (David Dickson, since retired) has an interest. All transadions are on an
ams length basis.
Amounts outstanding to GAS LLP of £3,600 were included in creditors in 2022.
21. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2023
Unrestricted
Funds
'ooo
Restrirted
Funds
Total
Tangible FNed A55ets
Net Current Assets
Long TerTn Liabilities
9,042
1,351
487
9,042
1,351
2022
Unrestrfcted
Funds
Restrirted
Funds
Total
É'ooo
Tangible Fixed Assets
Net Current Liabilities
Long Term Liabilities
12,319
(122)
161
12,319
(122)
161
28

21. Discontinued Operations
On 20th January 2023 BPAS disposed of its fertility business. The loss on disposal of the business
has been calculated as follows.
£'ooo
£'ooo
Cash Proceeds
600
Less Costs of Sale
414
Net Cash Proceeds
186
Net assets disposed of:
Tangible Fixed Assets
Stocks
Debtors
Creditors
1,822
49
175
(Loss) on disposal
The Net inflow of cash in respect of the fertility business is as follows- £'OOO
Cash Consideration
Less Costs of sale
Cash transferred on disposal
Net Inflow of Cash
600
{414)
29