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Putting at giving the heart of healthcare
ANNUAL REPORT 2025
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## Contents
## 02 Message from our Chair
## 04 Message from our Chief Executive
## 06 1. Our strategy
## 08 2. Looking back at 2025
- 08 This year’s highlights
- 14 Growing the income, influence and impact of NHS charities
- 16 Growing member income
- 18 Growing member influence 20 Growing member impact
- 24 Our grant-making principles
- 26 A heartfelt thankyou
- 28 3. Looking forward
## 30 4. Financial statements 2025
- 30 Structure, governance and management 35 Independent auditor’s report to the members of association of NHS charities
- 38 Consolidated financial statements 42 Notes to the financial statements
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MESSAGE FROM OUR CHAIR PETER PHIPPEN
## MESSAGE FROM OUR CHAIR
PETER PHIPPEN
## Unlocking the of the potential NHS charity sector
to give £1.5 million to the NHS every day.
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PETER PHIPPEN
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I’m delighted to introduce NHS Charities Together’s 2025 Annual Report. It’s been another incredible year of NHS charities making a difference for healthcare staff, patients and communities across the UK.
We all have a personal connection to the NHS. Now it’s in urgent need of help, many of us want to show our support to say thank you for the care loved ones have received or to make things better for others going through personal health struggles.
I’m proud that as a sector we continue to give £1.5 million to the NHS every day. The efforts of the 220 NHS charities in every part of the UK bring hope for a new era of healthcare. However, we earnestly believe there is much more we can do together if we substantially increase the role of charitable giving within the NHS. This is likely to require government backing, in addition to our own efforts.
Over the last year, the Board has led NHS Charities Together’s renewed strategic focus on growing the NHS charity sector’s collective income, influence and impact.
It’s been a privilege to see our work in action, such as networking, training and advocacy events to help members grow their income. This included our inaugural Fundraising for Impact conference for NHS charities in May.
The publication of the NHS 10 Year Health Plan for England was an opportunity for NHS charities to use one voice and influence the plan. During 2025, we represented the NHS charity sector on the national stage, making the case to government representatives and policy makers that a culture of philanthropy in the NHS can help drive change.
We worked with NHS charities, NHS bodies and partners to make an impact for staff, patients and communities, with over £6 million in funding for programmes that are transforming lives. This included the first 29 grants to NHS charity members and their trusts, in partnership with NHS England, to improve the wellbeing of the healthcare workforce. A further 10 NHS ambulance charities received funding to support life-saving community first responder volunteers and help communities respond in an emergency. Working with members, we funded an additional 15 green spaces in healthcare environments through our Greener Communities programme, to share the health benefits of nature. Finally, we continued to harness the power of volunteering through the £10 million Volunteering for Health programme, in partnership with NHS England and CW+.
None of this would have been possible without the hard work of member NHS charities, who are making a meaningful difference every day; our valued partners – funders, donors, civic society, NHS and government; my fellow trustees and Board members for giving their time so generously; and the NHS Charities Together staff who have remained focused on our goals throughout a year of strategic change. Thank you.
It is inevitable that an annual report is in part a retrospective record, and we are proud of what has been achieved. But it marks a moment of change too. With the demands on the NHS only increasing, our work to unlock the potential of NHS charities and our role in improving healthcare for everyone becomes even more essential. I look forward to continuing our journey together in 2026.
Peter Phippen
## <£6m
in funding for programmes that are transforming lives
## £10m
Volunteering for Health programme, in partnership with NHS England and CW+
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MESSAGE FROM OUR CEO ELLIE ORTON OBE
## MESSAGE FROM OUR CEO
ELLIE ORTON OBE
## Creating a culture of philanthropy in the NHS
Together, NHS charities are driving transformation, improving NHS workforce wellbeing, providing better care for patients, and helping people stay well at home and in their communities. And there is potential to do so much more.
Many people passionately want to support the NHS, because they are grateful for a precious life saved, would like to pay tribute to someone who was cared for, or simply want to make things better for others. These kind individuals are motivated to give but often are unsure how to.
I would like to add my thanks to Peter’s, especially to the NHS charities, trusts and health boards, partners, and NHS staff and volunteers who work with us to deliver better healthcare for everyone.
The truth is NHS charities could be raising and giving so much more to the NHS. But this requires a culture shift from within.
As Peter outlines, over the last year we have developed our strategy and renewed our efforts to grow the NHS charity sector’s income, influence and impact. We identified new opportunities and the barriers holding us back. What surprised us was the extent to which the biggest barrier is from within the NHS itself.
In part, it’s about NHS trusts understanding the value their own charities have to offer and providing them with the support and visibility they need to deliver it. It’s also about ensuring NHS staff are aware of their NHS charity and know how to direct patients to them when they want to give back. Underpinning it all, we need a financial system that incentivises rather than deters philanthropic giving.
In 2025, we began to work together to start bringing about these much-needed changes. Looking ahead, our message to NHS trust and health board executives is, now is the time to invest in your charity as a strategic partner. Raise awareness with your staff so that they know what to do if a patient or donor is motivated to give.
We ask the Department for Health and Social Care for help to spread this message and provide incentives for philanthropic giving, and to explore the ways we can improve things together, for example through match funding or social finance models.
The NHS can’t and shouldn’t have to tackle the problems it faces alone. The NHS 10 Year Health Plan for England recognises that partnerships are essential to achieve its ambitions. NHS charities are ready-made allies on the doorstep of every NHS trust. Together we can build on the progress of 2025 and realise our unlimited potential.
## Ellie Orton OBE
## £620m
raised over the year and £1.5 million given every day to the NHS
>220
charities, big and small, support hospitals and mental health, ambulance and community services in every NHS trust and health board across the UK
NHS charities have been there since the NHS was born. Together, we raise over £620 million a year and grant £1.5 million every day to the NHS – an amount that has grown by 25% over the last five years. Over 220 charities, big and small, support hospitals and mental health, ambulance and community services in every NHS trust and health board across the UK.
While we may each be different, all of us are united by a shared belief in the NHS and our ability to channel public love and support to make improvements that change lives, at a time when the NHS is more vulnerable than ever.
## ELLIE ORTON
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## SECTION 1
OUR STRATEGY
## OUR STRATEGY
## Transforming healthcare, together
With the NHS in urgent need of help, NHS charities are working across the UK to transform care and change lives. Together, we are 220 NHS charities reaching every part of the NHS and taking on problems big and small.
Using our unique reach, insights and voice as part of the NHS, we connect people, ideas and funding. We champion the role of giving to make healthcare the best it can be for the people who work for and need the NHS today and for generations to come.
Collectively, NHS charities already give £1.5 million to the NHS every day to help change the lives of patients, families and staff. But we believe the potential of the sector is unlimited. By harnessing the power of giving, NHS Charities Together unites all those who believe in the NHS and want to make it better, to unlock this potential and deliver a new era of healthcare.
£1.5m
given to the NHS every day to help change the lives of patients, families and staff
## Our mission
We mobilise the collective power of NHS charities and the nation to help the NHS go further for patients, staff and communities — ensuring extra support goes where it’s most needed and enabling the NHS to advance in a rapidly changing world.
## Our vision
A future with a thriving NHS and the best possible healthcare for everyone.
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LOOKING BACK AT 2025
## LOOKING BACK AT 2025
## This year’s highlights
Looking back on 2025, we achieved so much together to support the people who work and volunteer for the NHS and the patients they care for.
## £162m
raised through our Covid-19 Urgent Appeal since 2020 has enabled us to distribute funds to every NHS trust and health board charity to tackle problems created or worsened by the pandemic
## £5m
invested in workforce wellbeing so far, through 61 projects
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## **Covid-19 – five-year anniversary**
On Sunday 9 March (the UK’s annual Day of Reflection), we hosted an event at the National Memorial Arboretum in Staffordshire to mark five years since the Covid-19 pandemic and reflect on its impact on everyone working for and depending on the NHS. Former Children’s Laureate Michael Rosen and soprano Lesley Garrett CBE joined senior healthcare representatives, MPs and celebrities, along with NHS staff, patients and bereaved families for this emotional livestreamed event.
Also in March, we were delighted to work with Royal Berkshire NHS Foundation Trust to host a visit with HRH The Prince of Wales, in his role as Royal Patron of NHS Charities Together. The Prince talked to staff at Royal Berkshire Hospital about the impact of the Oasis Staff Wellbeing Centre, funded through our Covid-19 Urgent Appeal.
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HARRY REDKNAPP
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## **Fundraising for Impact**
As part of our work to empower NHS charities across the UK, we held a Fundraising for Impact event in Birmingham in May to bring members together for opportunities to grow and network. NHS charities of all sizes and strategic partners took a deep dive into fundraising for impact delivery. We were inspired by keynote speakers Alan Clayton and Kerry Vandersypen from Revolutionise, member panellists and workshops on all kinds of fundraising topics.
## **Showcasing charities within the NHS**
## **Boosting the wellbeing of NHS workers**
The NHS ConfedExpo in Manchester in June was an opportunity to showcase the impact of NHS charities to NHS staff at all levels. We shared how staff can unlock the potential of their own charity to achieve their shared goals.
In November, to help the NHS prepare for what was predicted to be the busiest winter period on record for A&Es and ambulance services, alongside NHS England we announced £2.4 million to bolster wellbeing support for NHS staff. The grants form part of an £11 million Workforce Wellbeing programme and will fund 29 projects across England.
It was fantastic to have the endorsement of the Secretary of State for Health and Social Care, the Rt Hon Wes Streeting MP, who spoke with our CEO, Ellie Orton OBE, on the vital role NHS charities play in supporting and transforming the NHS.
Legendary football player and manager Harry Redknapp paid a surprise visit to NHS staff from the Hampshire and Isle of Wight Healthcare NHS Foundation Trust to see how NHS charity projects are providing crucial mental and physical wellbeing support. Harry said:
We were delighted to be the charity partner of the Role of the Voluntary Sector Learning Theatre for the second year in a row at this flagship NHS conference, to highlight the role of the NHS charity sector in supporting healthcare.
“NHS staff are the beating heart of our healthcare service, and we must do more to look after them.”
We also held two popular panel sessions with Dr Radha Modgil – ‘Making healthcare fairer and empowering communities to stay well’ and ‘Supporting the NHS workforce’.
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This year’s highlights continued
## £10m
## **Celebrating Amazing Women**
In August, we proudly announced our sponsorship of the 2025 Amazing Women Awards by _Woman&Home_ magazine. The awards champion women who are making an extraordinary impact on their community and beyond. This year’s awards were extra special as together we shone a light on the incredible impact of NHS charities, and the people who make it all possible.
Volunteering for Health programme, being delivered through a partnership between NHS Charities Together, NHS England and CW+
The winners included Judy Dewinter, Chair of the Royal Free Charity, the NHS charity partner of the Royal Free London NHS Foundation Trust, who won the Charity Champion award. At the age of 33, Judy’s cancer diagnosis led her to put her business expertise to good use improving outcomes for cancer patients. She said:
## **Volunteering for Health**
Throughout Volunteers Week in June, we celebrated the vital role volunteers play in health and care. This was the perfect opportunity to share how volunteers support patients, NHS staff and the wider healthcare system, the role many NHS charities have in organising volunteering across the UK, and the volunteering opportunities available.
“[I] apply my experience, both as a long-term patient and a business leader, to shape strategic, high-impact initiatives that improve outcomes for patients and staff.”
In the autumn, over 100 partners from the voluntary, community and social enterprise (VCSE) sector, local government and NHS charities came together at Volunteering for Health in Birmingham. We shared lessons learned and progress being made to transform how volunteering works across health and care systems in England. We also raised awareness of our £10 million Volunteering for Health programme, being delivered through a partnership between NHS Charities Together, NHS England and CW+, an independent charity working in partnership with Chelsea and Westminster Hospital NHS Foundation Trust.
This _Woman&Home_ partnership was accompanied by a feature in the magazine showing how NHS charities support the wellbeing of nurses, doctors and many more people working in health and care across the UK – especially during the cold winter months.
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## **Showing up for ambulance charities**
Throughout the year, we awarded £1.94 million in grants to all 14 NHS ambulance charities in the UK, to help communities be there for each other in an emergency and ease pressure on frontline services. The aim of the funding is to train a minimum of 24,000 people in CPR, support thousands of life-saving community first responder volunteers, and deploy up to 6,000 units of vital equipment, including defibrillators and community response vehicles.
£1.94m
## **Green spaces for better health and wellbeing**
in grants to all 14 NHS ambulance charities in the UK, to help communities be there for each other in an emergency and ease pressure on frontline services
In 2025, supported by Starbucks and Hubbub, we delivered a third year of funding through our Greener Communities fund to create more green spaces to support better health and wellbeing.
We were honoured that our Royal Patron HRH The Princess of Wales visited the Wellbeing Garden at Colchester Hospital. This was developed in partnership with the Royal Horticultural Society and Colchester & Ipswich Hospitals Charity to make visiting the hospital a nicer experience for patients, particularly those visiting the Cancer Wellbeing Centre. The Princess spoke to staff and patients about how gardens in healthcare settings play a crucial role in promoting good health outcomes, preventing poor health and supporting increased recovery time. She said:
“… to have a place like this … is so valuable and it’s great this community has it. It would be great if lots of communities had this kind of support.”
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## SECTION 2
This year’s highlights continued
## **Responding to the 10 Year Plan**
As the Government launched its NHS 10 Year Health Plan for England in July, our CEO, Ellie Orton OBE, welcomed the scale of the Government’s ambition while emphasising the vital role of NHS charities in helping to realise its plans. She said:
“The reality is that the scale of these plans is so huge that the NHS can’t and shouldn’t have to face this alone; the voluntary sector, partners and the NHS charities based in every NHS trust are part of the solution.”
ELLIE ORTON
## **Transforming clinical spaces through art**
In July, the National Arts in Hospitals Network (NAHN) launched new guidance to make it easier to establish and manage arts programmes in hospitals. The guidance supports practitioners of all types across UK hospitals to use the arts to support patient and staff health and wellbeing.
The guidance is now available to download for free at https://lnkd.in/eMa8rCSH. NHS Charities Together are proud to host NAHN.
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## **Engaging healthcare leaders**
There was standing room only for our panel session ‘Where’s the money coming from? New routes to funding innovation’ at the NHS Providers Annual Conference and Exhibition in November. Over two days, on our exhibition stand, we shared with NHS trust leaders the vital role their NHS charities play and the huge potential they have to deliver even more.
## £38,121
raised with the help of our celebrity supporters, who generously gave their time to help raise money for NHS Charities Together
## **Big Charity Day**
In September, we were joined by TV personality and radio presenter Sam Thompson and Lionesses Lucy Bronze MBE and Alessia Russo for BGC Group’s Big Charity Day, the global management consulting firm’s annual fundraiser. With the help of our celebrity supporters, who generously gave their time to help raise money for NHS Charities Together, we raised an incredible £38,121, which will help to support the wellbeing of hardworking NHS staff across the UK.
£47,316 raised by 105 Great North Runners, to help us continue supporting the NHS to thrive so everyone can get the healthcare they deserve
## **Great North Run**
We had an amazing time cheering on our 105 Great North Runners in September. These extraordinary individuals raised a total of £47,316 to help us continue helping the NHS to thrive so everyone can get the healthcare they deserve. We hope your legs have now fully recovered!
## **Together at Christmas**
This year’s Together at Christmas carol service at Westminster Abbey was all about love, compassion and joy. We’re so grateful to our Royal Patrons, TRH The Prince and Princess of Wales, for enabling us to nominate some very special attendees who give so much to improve healthcare for patients and communities through projects funded by NHS charities across the UK. The service was screened on ITV on Christmas Eve for all to enjoy with a mince pie.
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The 220 NHS charities in our membership network are at the heart of everything we do.
We’re proud to represent charities linked to every NHS trust and health board across the UK. This includes charities based in hospitals and mental health, community and ambulance services.
Being a member helps NHS charities connect with and learn from each other. By bringing charities’ specialisms, voices and experiences together, we improve healthcare and transform lives.
**We support NHS charities to:**
21
special interest and regional groups connecting over 500 people
3
leadership events including Sector Leaders in Leeds and London and a new networking event for CEOs of the 30 largest independent NHS charities
25
webinars in 2025 covering topics such as AI, working with trusts and raising unrestricted income
3
new toolkits launched providing practical tools and support for members
98%
of members using Member Connect, our digital collaboration and sharing space for NHS charities. In 2025, 304 new users joined the platform. The site had over 500 visitors each month and hosted conversations about 586 new topics
NHS Charities Together is focused on helping NHS charities and the combined NHS charity sector grow their income, influence and impact.
To do this, we provide networking, training and influencing opportunities and work with members and partners to fund and deliver change.
The NHS charity sector gives over £1.5 million to the NHS every day. And we believe it has unlimited potential to do more.
Help NHS staff, volunteers and communities overcome the challenges facing healthcare and make a bigger impact
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## Growing member income
Through supporting NHS charities to grow, diversify and secure their income, we help ensure improvements in healthcare can be achieved and sustained, whatever the challenges ahead.
170 in-person attendees and over 100 members joining online 17 sponsors 55 Net Promoter Score (excellent response to “How likely is it that you would recommend the conference to a friend or colleague?”)
## **Fundraising for Impact conference**
In May, we hosted our first event focused on growing fundraising in the NHS charity sector. The Fundraising for Impact conference, held at Edgbaston Stadium in Birmingham (and online), featured keynote speakers including Alan Clayton and Kerry Vandersypen from Revolutionise, the accelerator for people with purpose.
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CONFERENCE ATTENDEE
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## **The Learning Series**
In 2025, we launched the Learning Series, designed for charity staff who are new to the sector or looking for a refresher.
Each video in the series offers a bitesize introduction to a core topic relevant to working for an NHS charity, including:
An introduction to NHS charities
Making a good grant application
Grant applications: trusts, foundations and other funders
Understanding NHS charity finance
Legal best practice in NHS charities
Raising awareness of your NHS charity
The pre-recorded videos are supported by signposts to more information, allowing users to explore a topic in more depth at their own pace.
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## Growing member influence
Through supporting NHS charities to increase their influencing power, we help showcase the impact charities are making, expose the barriers to their success, and reveal the potential of the sector with more support and investment.
## **Engaging NHS leaders**
In 2025, insight from members helped open doors with health ministers and senior NHS trust and national health leaders. At events such as NHS ConfedExpo, the UK’s leading health and care conference, we engaged NHS staff and politicians in conversations about members’ important work.
## **Raising awareness**
## **10 Year Plan**
Throughout the year we used campaigns and the media to help raise public awareness of the role that NHS charities can play. By the end of the year 66% of people surveyed said they believed there was a role for NHS charities in helping the NHS to do more.
We continued to be involved in discussions with the Government about the NHS 10 Year Health Plan for England and the role NHS charities can play in its delivery. We were invited to share a proposal on unlocking philanthropy in the NHS by Karin Smyth MP, Minister of State at the Department of Health and Social Care.
In November our CEO, Ellie Orton OBE, wrote wrote a comment piece to reach trust leaders about the power of their own NHS charity for the _Health Service Journal (HSJ)_ on the subject ‘The NHS must be more willing to accept financial gifts’. She described the inconsistency in the visibility, support and partnership working between NHS trusts and their charities, which can make it difficult for those patients and families who want to give back to know how to go about it. She said the network of NHS charities could raise billions more annually if trusts change their approach, and that we are here to support NHS trust and their charities on this journey.
66% public awareness of the role of NHS charities in helping the NHS do more
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## Growing member impact
Through supporting NHS charities to make a bigger impact across the health and care sector, together we are improving the lives of NHS staff, patients and communities every day.
£6m
in new grants to member NHS charities, funding over 65 projects
## **Improving workforce wellbeing**
NHS staff work tirelessly, under incredibly challenging conditions, to care for us every day. Last year, a total of £2,386,293 was granted from our Workforce Wellbeing local grants fund, delivered in partnership with NHS England. This funding has supported 29 members, and the NHS trusts they work with, to provide responsive and preventative interventions to improve the health and wellbeing of NHS staff across England.
## CASE STUDY
The Oxford Hospitals Charity team used NHS Charities Together funding to support two wellbeing initiatives through Oxford University Hospitals NHS Foundation Trust : a Staff Support Service and the purchase of recliner chairs and energy pods to help staff rest during breaks, with particular benefits for nightshift workers.
In 2024/25, the Staff Support Service provided staff with 954 individual sessions and a further 46 team sessions, helping them stay well at work. This support has been recommended by everyone who has benefitted from it so far.
The success of the Staff Support Service pilot we funded means the project is now a permanent part of the staff wellbeing offer and funded by the trust, a great example of how NHS charities can help test and embed new ways of working.
## CASE STUDY
Helen is one of the NHS staff members helped through Kent Community Health NHS Foundation Trust ’s charity, i care. NHS Charities Together funding made it possible to put an employee assistance programme in place to provide wellbeing support and training. Managers can also access coaching and resources to support colleagues with long-term conditions and improve their working experience.
Helen said, “I felt I would benefit from extra wellbeing support. I liked that I was able to self-refer which meant I didn’t need to make an appointment through my GP and wait for an assessment, which can be quite anxiety inducing. I also appreciated being able to access support over the phone, meaning I could take calls from a location to suit me.”
£2.4m
given from our Workforce Wellbeing local grants fund
29 members and the trusts they work with supported
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Growing member impact continued
## **Tackling health inequalities among young people**
We granted £1,424,408 from our Innovation Challenge fund to support nine projects tackling health and care inequalities among children and young people across the UK. Six of these projects are targeted at children and young people awaiting formal mental health services in Belfast, Cornwall, Leicestershire, Liverpool, Somerset and Yorkshire.
## CASE STUDY
We worked with Better Lives, the official charity of Bradford District Care NHS Foundation Trust , to fund Dixons Allerton Academy’s School Health Hub. Based within the school, the hub provides pupils with a range of support, from speech and language development to asthma checks and vaccinations. Parents can even bring pupils’ younger siblings in for advice.
Catherine Jowitt, Bradford District Care NHS Foundation Trust’s Head of Charity and Volunteering, said, “Bradford faces some of the highest health inequalities in the country. The Health Hub is a really flexible space in the school where we can deliver clinical interventions, education and general wellbeing support. I’m really proud of this project; it’s serving our communities in a way that’s truly needed.”
## **Helping communities respond in an emergency**
With £1,375,275 from our Community Resilience fund, supported by Omaze, we helped 10 ambulance service NHS charities make communities better prepared to respond to emergencies including out-of-hospital cardiac arrest. This increases patients’ chances of survival, particularly in rural areas where ambulances can’t arrive as quickly.
## CASE STUDY
Cyclist Mark’s heart stopped for 15 minutes when he was out for a bike ride in the Cotswolds with his friends, Steve and Dave. When he came off his bike, his friends immediately started CPR while calling 999. The South Western Ambulance Charity community first responder (CFR) arrived within nine minutes. They continued the CPR and shocked Mark twice with a defibrillator to get him breathing again, before he was taken to hospital in the air ambulance.
Mark says, “The survival rate for what happened to me is less than 10% if it’s outside a hospital – so to be here is beyond miracles.”
## **Improving health through green spaces**
We granted £500,000 in the third round of our Greener Communities fund. Delivered in partnership with Starbucks and Hubbub, this funding has enabled us to support 15 members to establish or develop nature-based spaces to improve the wellbeing of NHS staff, patients and communities across the UK.
## CASE STUDY
October saw the official opening of NHS Lanarkshire ’s new outdoor space to support the mental health and wellbeing of young patients. Nestled within the existing courtyard at Udston Hospital, the garden features fruit trees and berry bushes, aromatic herbs like rosemary and thyme, and a shed for tools and equipment.
Our Head of Grants, Jon Goodwin, said, “There’s a strong link between spending time outdoors and improved health and wellbeing. These projects play an important role in our wider commitment to help improve the health of the patients, staff and communities of the NHS, and in turn reduce the pressure on overstretched NHS services.”
## £500,000
granted in the third round of our Greener Communities fund
15
members to establish or develop nature-based spaces to improve the wellbeing of NHS staff, patients and communities across the UK
JON GOODWIN
Every year, we work with NHS ambulance charities to provide CFR training, enhanced equipment and response cars, to help people in need quickly and save lives.
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## Our grant-making principles
In 2025, all our grants were awarded in line with the grant-making principles we adopted in 2023, that our grant making should be first and foremost impactful, but also:
## Codesigned
The design of our Workforce Wellbeing grants was informed by extensive consultation with members and the wider NHS. The design of our Innovation Challenge grants was directly influenced by the real-life experience of children and young people facing health and care inequalities.
## Collaborative
Our decision making was informed by expertise from external partners such as the Association of Ambulance Chief Executives (AACE), the Association of Young People’s Health (AYPH), Hubbub, NHS England and St John Ambulance (SJA).
## Developmental
## Inclusive
Our grants have been spread equitably across the membership by trust type, charity size and geography, with more than £500,000 in grants being awarded to members in Northern Ireland, Scotland and Wales, and significant funds being awarded in all NHS regions in England.
## Transparent
We have been in regular contact with members about the funding opportunities available, supported NHS charities to understand ‘what makes a good application’, and acted on feedback around our grant making.
## Innovative
Several of the projects we funded are the first of their kind in the UK. The Innovation Challenge and Workforce Wellbeing programmes in particular support innovative approaches to longstanding problems.
Partners such as AACE, AYPH and SJA shared their expertise with members to strengthen their delivery and increase their impact.
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## A heartfelt thank you
Every penny donated or raised for NHS Charities Together in 2025 has contributed to a future with a thriving NHS and the best possible healthcare for everyone. Thank you to all of you who have supported us this year.
We are incredibly grateful to those people who have chosen to leave a forever thank you with a gift in their will, including Ann Mary Arnold, Jeffrey Ian Biggs, Geoffrey Conder, Thomas Robinson Cook, Elizabeth Binnie Cummings, Colin Alexander Graham, Florence Freda King, Richard Thomas Pomfret, Beverley Dawn Rushton, Marina Elizabeth Saul, Madge Swift, Doris Barbara Weston, Malcolm John Wharton, Robert Morrison Wilson, Isabel Ethel Young.
£50,000 raised through our winter appeal to support NHS staff, volunteers and patients
Thank you to everyone who donated to our winter appeal. Your generosity raised over £50,000 to support NHS staff, volunteers and patients at the most challenging time of the year.
It was a fantastic year for our fundraisers in running shoes. The 2025 Great North Run was our most successful to date, with 105 runners raising £47,316 for NHS charities. Further south, our runners in the London Marathon, London Landmarks Half Marathon and Royal Parks Half Marathon together raised £40,910. And we even had runners across the water in the Paris Marathon, raising £9,758 – formidable!
## CASE STUDY
Jim Haddow took part in the Great North Run and raised £445 for charities, including NHS Charities Together.
Jim said, “In October 2022, I suffered a massive gastric variceal bleed and discovered I had advanced liver scarring (cirrhosis), causing blood vessels to burst under pressure. In January 2025, I finally had a successful liver transplant. My mission for my wonderful second life includes fundraising to prevent as many people as possible from suffering the life-changing effects of liver disease and giving support to those who have.”
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JOSHUA WILSON
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Once again, we valued the support of The Bevan Circle, including their new members, and their very generous ongoing commitment to enhancing experiences for patients and their families, enabling NHS staff to have wraparound support, and funding innovative approaches to tackling health inequalities in our communities.
## CASE STUDY
Joshua Wilson committed to run not just the length of one marathon for NHS Charities Together but two back-to-back! On 9 August 2025 he ran from Trafalgar Square to Brighton Palace Pier (53 miles / 85km) raising an epic £1,632.
We are hugely grateful for the support of our corporate partners. Your generous donations and fundraising efforts at work have made such an impact for the NHS.
Josh said, “We have all used the NHS at some point in our lives and the least we can do is give something back to them. To all the family, friends and literally anyone who works in the NHS, thank you for being an absolute legend, we are eternally grateful for you.”
Special thanks to Starbucks and Hubbub for supporting our programmes to improve health and wellbeing through access to green spaces.
It was energising to see our three-year partnership with The Gym Group go from strength to strength, supporting communities to improve their physical health. Through The Gym Group Games, members were given the opportunity to take part in a simulation of the popular race event HYROX, to put their fitness to the test and raise money for NHS Charities Together.
We continue to appreciate the ongoing support of Marks and Spencer and Central Tickets, who are raising funds and awareness through staff events and customer engagement.
And a warm welcome to our new partner in 2025, Orthotix. Through this partnership, a percentage of all sales from Orthotix-branded medical products will be donated to NHS Charities Together, supporting patient care, staff wellbeing and essential projects that make a difference every day.
Thank you to Parking Eye – their donation of over £100,000 exceeded all expectations; BGC for supporting us through their Big Charity Day, which with a little help from celebrity friends raised £38,121; IBM who supported us throughout their third annual Charity Week, raising over £2,000 and spreading awareness of lifesaving skills with a CPR-a-thon; and The Royal Foundation who organised a charity polo event near Windsor, where players including HRH The Prince of Wales raised £1.1 million for 10 charities, including NHS Charities Together.
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## SECTION 3
LOOKING FORWARD
## LOOKING FORWARD
## In 2026…
Through our influencing, we will champion the role of giving and raise awareness of the value NHS charities have to offer. Through building relationships with governments, trust leaders and healthcare decision makers, we will help to embed a culture of philanthropy in the NHS.
This Annual Report shows the difference NHS Charities Together and the NHS charity sector are making to people’s health and wellbeing with your support. Together, we are generating much-needed extra income for the NHS and helping to take pressure off the system through prevention, volunteering, workforce support, and improved patient experience.
The NHS is in urgent need of help. The demand for care is enormous and growing. Meanwhile, waiting lists remain long, emergency response times are greater than ever, and the gaps in access to services and longterm health outcomes are growing. The people who keep the NHS being there for us day after day are under unprecedented strain.
In the year ahead, we will work together with our network of 220 NHS charities to address these challenges and bring about a new era of healthcare.
Using our unique reach, insights and voice, we will support members to grow their income, influence and impact to drive transformational change for staff, patients and communities.
We will provide members with training, networking opportunities and product development to unlock their fundraising potential. We will focus on breaking barriers the sector faces and capitalising on opportunities unique to NHS charities.
NHS charities have a proven history of making a real impact for staff, patients and communities. We will continue to bring members together to be even more effective, helping to address the big and small challenges that the NHS faces, ultimately to transform healthcare and change lives.
To achieve all this, we will become a higher performing organisation. In 2025, we refreshed our strategy so our teams have a clear direction and the operational systems in place to reach their goals.
More than ever, we need your support, as we continue to create better healthcare for everyone.
Thank you for being there for NHS staff, patients and communities
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SECTION 4 FINANCIAL STATEMENTS 2025
## 4 FINANCIAL STATEMENTS 2025
## Structure, governance and management
## Governing document
In 2025 our income from fundraising activity and partnership working (donations, legacies, sponsorship and programme income) was just over £8.1m (2024: £4.6m). Generating income in the current climate remained challenging, especially from public fundraising. Income in the year was supported by programme income, and this will be an area of focus as we review our future income generation strategy.
The Charity is a company limited by guarantee, incorporated in England and Wales on 20 November 2019 (registered number 12325259), and registered as a charity with the Charity Commission for England & Wales on 25 November 2019 (registered charity number 1186569). From 25 January 2021 the Charity has also been registered with the Scottish Charity Regulator (Scottish charity number SC050716).
In 2025 our expenditure on generating funds was £1.6m (2024: £2.1m) representing an investment in fundraising equivalent to 20% of total income (2024: 46%). Over a three-year period, our ratio of expenditure to income is 30%, which is within our expected range of 30–35%.
The Charity is governed by its Articles of Association which define the objects and powers of the Company.
The Charity has a wholly owned subsidiary, ANC Trading Limited (registered in England and Wales number 12608754), which generates commercial income from trading relationships. The financial results of ANC Trading Ltd have been consolidated with those of the Charity and are shown separately in Note 29.
We expect our in-year ratios to continue to fluctuate due to unpredictable timing of income in the changing external environment. As an organisation that is relatively new to external fundraising, we also need to invest responsibly in creating sustainable income streams for the future, which inevitably impacts in-year ratios.
## Fundraising
## Objects
We are grateful for the fundraising support we receive from all quarters – individuals, community groups, companies and legacies. Where appropriate, we enter into a formal legal agreement to regulate fundraising on our behalf by others and to ensure they comply with the Fundraising Regulator’s Code of Practice. In particular, we require our supporters to protect vulnerable people and other members of the public from any unreasonable intrusion into their privacy or any undue pressure to donate.
The Objects of the Charity are, for the public benefit:
a. the advancement of health, and, in particular but without limitation, the promotion of the effective working of NHS Charities;
b. the advancement and promotion of knowledge and education in relation to NHS Charities and their purposes, including by engaging in and supporting research (and the dissemination of the useful results); and
## Activities for the public benefit
As discussed elsewhere in this report, our strategy is to work together with members, uniting for better healthcare, for everyone, with a focus on three areas of change:
- Transforming patient experience and outcomes
- Supporting workforce wellbeing through caring for NHS staff and volunteers
- Supporting people to live well, through preventing ill health and holistic management of long-term conditions
We are the national charity supporting the NHS and the health of the nation, with four enablers of change:
- Developing the sector, through evolving our role as a centre of knowledge and expertise
- Delivering and facilitating approaches to grow impact and voice
- Leading transformational programmes
- Being a sustainable and purpose-led organisation
Examples of some of the many ways our work has supported across all these areas and enablers of change are given in this report.
## Grant making
One way we enable change for patients, NHS staff and communities is to make grants. The value of new grants made in 2025 was £6m (2024: £2.3m) as we continued to move from Covid-19 programmes to new impact areas. However, it is important to note that grant making is not the only (or main) way we pursue our objects.
## Public benefit
The trustees confirm that they have complied with their duty under the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.
Between them, our member charities hold more than £4 billion in assets and contribute more than £600 million each year to the NHS. NHS charities play a significant role in supporting the NHS, and the additional funds they produce allow them to invest in new ways of working, innovations, and projects that help to deliver improvements and enhancements to the NHS for the benefit of the public.
NHS Charities Together supports its member charities to reach their individual goals, to grow and learn together, and to deliver programmes that support the NHS workforce, help people to live well, and transform patient experience and outcomes.
- Our position as a national charity also enables us to play a distinct role in the delivery of programmes and activities that impact on the outcomes that are important to all of us, regardless of our background or personal circumstances.
## Trustees
The trustees, who are also directors under company law, who have served during the year are set out on page 60. Up to 12 trustees are elected by members and a further three trustees can be co-opted by the other trustees.
A majority of trustees is required to be senior officers, senior employees or trustees of a member, or members of the board or senior officers or senior employees of the corporate trustee of a member. They must each come from a separate member (but they are not representatives of that member).
The trustees review the composition (including the skills, knowledge and experience) of the Board and consider succession planning. Where required, an open recruitment process is conducted following which new trustees are recommended to members for election.
When recruiting new trustees, the Charity aims to attract a diverse range of candidates who have the skills it needs. We value the benefits of having trustees with different backgrounds, expertise and experience. Ultimately though, trustee appointments are based on merit in the context of ensuring that we have an appropriate balance of skills and experience. A trustee’s term of office is three years, with a normal maximum for any trustee of three terms.
All new trustees undertake an induction programme, which includes an overview of the Charity’s strategy, aims and objectives. The role and duties of the trustees, company and charity law and governance, and financial and risk management are also covered. Trustees meet with the Chief Executive, members of the Senior Leadership Team and other relevant parties. Additional training is arranged as required for individual trustees or for the Board as a whole.
- c. the furtherance by any other means of the charitable purposes of all or any NHS Charities generally.
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Trustees are volunteers and receive no remuneration or benefits from the Charity. Out-of-pocket expenses may be claimed, and trustee indemnity insurance is purchased. Details are set out in Note 13 to the accounts.
## Committees
The trustees have created several specialist committees with delegated authority to focus on specific areas and provide assurance to the Board.
The number and nature of committees is kept under review as the needs of the organisation evolve, but during 2025 the following committees met:
- Finance Committee
- Impact Committee
- People Committee
- Remuneration Committee
- Risk & Audit Committee
Committees are chaired by a trustee with at least two other trustees as regular members. Members of the management team and other expert advisors join meetings as required.
## Management
The Board is ultimately responsible for the overall control and strategic direction of the Charity and for the protection of its assets. Day-to-day management is delegated to the Chief Executive, Ellie Orton OBE, and the executive directors, who comprise the Senior Leadership Team.
Members of the Senior Leadership Team at the date of this report or who served during the year are shown on page 60. Remuneration of the Chief Executive and the Senior Leadership Team is set by the trustees’ Remuneration Committee and is benchmarked against comparable roles in other charities.
## Risk
Identifying and managing the possible and probable risks that the Charity may face is a key part of effective governance and the trustees acknowledge their responsibility for the identification, assessment and management of risk. Specifically, the Board determines the risk appetite and sets the culture of risk management within the Charity and monitors the management of important risks facing the Charity.
The Charity has a Risk & Audit Committee with delegated authority from the Board to maintain the risk register and report to them on internal controls and alert them to any emerging issues. It ensures that risks are appropriately owned and that risk owners are actively managing their risks with the appropriate controls in place and working effectively.
The Chief Executive and Senior Leadership Team are responsible for the identification and assessment of major risks. They ensure that controls are implemented and provide regular reports to the Board and committees on the status of risks and their controls. They are responsible for encouraging good risk management practices and a positive attitude towards the control of risk among all staff.
Staff of the Charity are responsible for controlling risk when carrying out their duties, for following policies and procedures set by the Board designed to mitigate risk, and for identifying new and emerging risks to the Charity.
Risks that have been identified are recorded on a risk register, along with an assessment of their severity and a record of controls and mitigating actions.
The Charity’s principal risks continue to centre around income, organisational capacity, business continuity, systems adequacy, and reputation.
Generating income remains a significant challenge as economic pressures and shifting fundraising patterns impact our ability to generate both restricted and unrestricted funds. Mitigation includes ongoing work to refresh our income generation strategy and the longterm investment of £10m into a CCLA Investment Fund to secure longer-term investment income and manage inflation risks.
Organisational capacity and business continuity risks were a particular focus in 2025 as we undertook a transition project to reshape the charity to meet future strategic needs. This was mitigated by dedicated transition planning, clear communications and active staff engagement, and the work to ensure the organisation is fit for purpose will continue in the year ahead. Business continuity risks are being mitigated by contingency planning and a strong cloudbased IT infrastructure. We also engaged a new Managed Service Provider in 2025 and strengthened data management.
Finally, through our proactive communications, stakeholder engagement and ongoing media monitoring, we continue to demonstrate the value of NHS charities to the NHS and to the health and wellbeing of patients, staff and communities. In the year ahead, we will continue to develop our strategy to remain relevant and ensure we appropriately manage our relationships with our external stakeholders.
## Reserves
The trustees believe it is prudent to hold a level of free reserves to enable them to take advantage of change and opportunity as it presents itself and to set aside sufficient free reserves to allow the fundraising, support and governance operations of the Charity to continue for one year. This will allow the Charity to respond in a considered way to an adverse change in circumstances, giving time to enable emerging circumstances to be assessed and appropriate plans developed and implemented, without requiring a crisis response.
At 31 December 2025 there were free reserves of £4.6m (2024: £5.6m). A further £29m (2024: £32m) is either designated or restricted for planned future charitable activities.
Free and designated reserves have therefore reduced during the year, due to continuing to commit funds towards charitable activities. The trustees estimate £5.8m as the target for sufficient reserves to cover at least 12 months’ running costs.
## Staff mental health and wellbeing
NHS Charities Together believes its people are its best asset, and we are committed to supporting and improving staff mental health and wellbeing. We have a people strategy in place to support staff in their roles, and we are accredited as a disability confident employer and a mindful employer.
In May 2025 we joined CCLA Investment Management’s Global Investor Coalition on Workplace Mental Health. The coalition aims to promote and protect wellbeing in the workplace by encouraging companies to recognise the business risks and opportunities associated with mental health and supporting engagement with the CCLA Corporate Mental Health Benchmarks.
Our internal staff wellbeing strategy includes our commitment to:
- collaborative and supportive values and culture
- • flexible work–life philosophy
- weekly wellbeing time
- annual mental health training for line managers
- staff network of mental health first aiders
- investment in staff training and development
- two volunteer days
- additional employee benefits including employee assistance programme
- annual staff survey
## Trustee duties
Section 172 of the Companies Act 2006 requires the trustees to act in the way they consider, in good faith, would be most likely to promote the success of the Charity to achieve its charitable purposes. The Act states that in doing so, the trustees should have regard, amongst other matters, to:
## The likely consequence of any decision in the long term
We are a forward-looking organisation seeking a thriving NHS and the best possible healthcare for everyone. All decisions are taken with that long-term vision in mind and seek to maximise our impact in transforming patient experience and outcomes, supporting workforce wellbeing, and supporting people to live well.
## The interests of the Charity’s employees
Our employees are vital to the Charity’s success. We work hard to ensure staff are supported in their roles as we aim towards our goal of being the best place to work.
## The need to foster the Charity’s business relationships with suppliers, customers and others
We have a small number of suppliers and work to ensure good relationships with them, while also reviewing arrangements to ensure that the combination of cost and service delivers best value. We work with our members to ensure the services we provide meet their needs and are of a high quality. We collect formal and informal feedback after all our events so that we can learn and improve how we do things.
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## The impact of the Charity’s operations on the community and the environment
Our charitable work aims to benefit the community and we plan our programmes with community benefit in mind. We are committed to environmental sustainability and this informs our ongoing strategy and programme design.
## The desirability of the Charity maintaining a reputation for high standards of business conduct
Our reputation and public trust in NHS Charities Together is fundamental to our future success. Our organisational values and behaviours are at the heart of our planning and decision making, including our commitment to equality, diversity and inclusion across all aspects of the charity.
## The need to act fairly between members of the Charity
We aim to be a fully inclusive organisation that is relevant and accessible for all NHS charities. Our services and programmes are designed to ensure all members are able to benefit, regardless of their size or structure.
## Statement of trustee responsibilities
The trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees’ Report including the Strategic Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. 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 Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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 Group will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Group and 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 Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Disclosure of information to auditor
Each of the persons who are trustees at the time when this Trustees’ Report is approved has confirmed that:
- so far as that trustee is aware, there is no relevant audit information of which the charitable group’s auditor is unaware, and
- that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charitable group’s auditor is aware of that information.
## Auditor
The auditor, Cooper Parry Group Limited, has indicated their willingness to continue in office. The trustees will propose a motion reappointing the auditor at the Annual General Meeting.
Approved by order of the members of the Board of Trustees on 25 June 2026 and signed on their behalf by:
## P S Phippen
## Chair of Trustees
- Date: 25 June 2026
## Independent auditor’s report to the members of association of NHS charities
## Opinion
independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We have audited the financial statements of Association of NHS Charities (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, 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).
## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group’s or the parent charitable company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
## In our opinion the financial statements:
- give a true and fair view of the state of the Group’s and of the parent charitable company’s affairs as at 31 December 2025 and of the Group’s incoming resources and application of resources, including its income and expenditure for the year then ended;
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
- 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, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006.
## Other information
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 contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are
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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 otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine 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.
## Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees’ Report and the Strategic Report have been prepared in accordance with applicable legal requirements.
## Matters on which we are required to report by exception
In the light of our 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’ Report including the Strategic Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
- the parent 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
- the parent charitable company 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.
## 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 determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group, the parent charitable company or to cease 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 section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of noncompliance 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:
Our assessment focused on key laws and regulations the company has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, Charities Act 2011, Charity and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006, Charities (Accounts and Reports) Regulations 2008, Charities (Protection and Social Investment) Act 2016, taxation legislation, data protection and employment legislation.
We are not responsible for preventing irregularities. Our approach to detecting irregularities included, but was not limited to, the following:
- obtaining an understanding of the legal and regulatory framework applicable to the Group and parent charitable company and how the Group and parent charitable company are complying with that framework, including agreement of financial statement disclosures to underlying documentation and other evidence;
- obtaining an understanding of the Group and parent charitable company’s control environment and how the Group and parent charitable company have applied relevant control procedures, through discussions with Trustees and other management and by performing walkthrough testing over key areas;
- obtaining an understanding of the Group and parent charitable company’s risk assessment process, including the risk of fraud;
- reviewing meeting minutes of those charged with governance throughout the year; and
- performing audit testing over the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Whilst considering how our audit work addressed detection of irregularities, we also consider the likelihood
of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.
Because of the inherent limitations on audit there is a risk that we will not detect all irregularities including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements as we will be less likely to become aware of instances of non-compliance. This risk is also greater regarding irregularities occurring due to fraud rather than error as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor’s Report.
## Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s Trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditor’s Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## Glen Bott (Senior Statutory Auditor)
for and on behalf of
## Cooper Parry Group Limited
Statutory Auditor Cubo Birmingham, Office 401, 4th Floor Two Chamberlain Square Birmingham B3 3AX Date: 25 June 2026
Cooper Parry Group Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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## Consolidated financial statements
## **Consolidated statement of financial activities** (incorporating income and expenditure account)
**----- Start of picture text -----**
For the year ended 31 December 2025 As restated
Unrestricted Restricted Total Total
funds funds funds funds
2025 2025 2025 2024
Note £ £ £ £
Income from:
Donations and legacies 3 1,727,371 638,941 2,366,312 3,862,783
Charitable activities 4 1,035,232 5,029,383 6,064,615 761,823
Other trading activities 5 250,360 - 250,360 424,550
Investments 6 1,552,747 89,584 1,642,331 2,276,416
Total income 4,565,710 5,757,908 10,323,618 7,325,572
Expenditure on:
Raising funds 7 1,567,982 - 1,567,982 2,138,943
Charitable activities 9 7,324,806 5,120,168 12,444,974 8,225,252
Total expenditure 8,892,788 5,120,168 14,012,956 10,364,195
Net (expenditure)/income before (4,327,078) 637,740 (3,689,338) (3,038,623)
net losses on investments
Net losses on investments (250,191) - (250,191) -
Net (expenditure)/income (4,577,269) 637,740 (3,939,529) (3,038,623)
Transfers between funds 22 (6,265,501) 6,265,501 - -
Net movement in funds (10,842,770) 6,903,241 (3,939,529) (3,038,623)
Reconciliation of funds:
Total funds brought forward (as restated) 35,433,234 2,148,488 37,581,722 40,620,345
Net movement in funds (10,842,770) 6,903,241 (3,939,529) (3,038,623)
Total funds carried forward 24,590,464 9,051,729 33,642,193 37,581,722
**----- End of picture text -----**
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The Charity has taken advantage of Section 408 of the Companies Act 2006 and has not included a Parent Charity Statement of Financial Activities in these financial statements.
## **Consolidated balance sheet**
**----- Start of picture text -----**
As at 31 December 2025 As restated
2025 2024
Note £ £
Fixed assets
Intangible assets 14 78,000 -
Tangible assets 15 26,908 57,736
Investments 16 9,749,809 -
9,854,717 57,736
Current assets
Debtors 17 692,290 741,785
Investments 18 25,582,296 41,406,060
Cash at bank and in hand 1,227,337 641,227
27,501,923 42,789,072
Current liabilities
Creditors: amounts falling due within one year 19 (2,909,005) (5,127,490)
Net current assets 24,592,918 37,661,582
Total assets less current liabilities 34,447,635 37,719,318
Creditors: amounts falling due after more than one year 20 (805,442) (137,596)
Total net assets 33,642,193 37,581,722
Charity funds
Restricted funds 22 9,051,729 2,148,488
Unrestricted funds 22 24,590,464 35,433,234
Total funds 33,642,193 37,581,722
**----- End of picture text -----**
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
P S Phippen Chair of Trustees
Date: 25 June 2026
The notes on pages 42 to 59 form part of these financial statements.
38 Annual Report 2025
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SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## **Charity balance sheet**
**----- Start of picture text -----**
As at 31 December 2025 As restated
2025 2024
Note £ £
Fixed assets
Intangible assets 14 78,000 -
Tangible assets 15 26,908 57,736
Investments 16 9,749,809 1
9,854,717 57,737
Current assets
Debtors 17 692,290 663,071
Investments 18 25,582,296 41,406,060
Cash at bank and in hand 1,221,013 631,287
27,495,599 42,700,418
Current liabilities
Creditors: amounts falling due within one year 19 (2,908,483) (5,078,763)
Net current assets 24,587,116 37,621,655
Total assets less current liabilities 34,441,834 37,679,392
Creditors: amounts falling due after more than one year 20 (805,442) (137,596)
Total net assets 33,636,392 37,541,796
Charity funds
Restricted funds 22 9,051,729 2,148,488
Unrestricted funds 22 24,584,663 35,393,308
Total funds 33,636,392 37,541,796
**----- End of picture text -----**
## **Consolidated statement of cash flows**
**----- Start of picture text -----**
As at 31 December 2025 As restated
2025 2024
Note £ £
Cash flows from operating activities
Net cash used in operating activities 24 (6,783,239) (9,144,546)
Cash flows from investing activities
Interest on investments and deposits 1,642,331 2,276,416
-
Purchase of intangible assets (96,000)
Purchase of tangible fixed assets (746) (46,346)
Purchase of investments (10,000,000) -
Net cash (used in)/provided by investing activities (8,454,415) 2,230,070
Cash flows from financing activities
- -
Net cash provided by financing activities
Change in cash and cash equivalents in the year (15,237,654) (6,914,476)
Cash and cash equivalents at the beginning of the year 42,047,287 48,961,763
Cash and cash equivalents at the end of the year 25 26,809,633 42,047,287
**----- End of picture text -----**
The notes on pages 42 to 59 form part of these financial statements
The Charity’s net movement in funds for the year was £(3,905,404) (2024: £(3,078,549)).
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
P S Phippen Chair of Trustees
Date: 25 June 2026
The notes on pages 42 to 59 form part of these financial statements.
40 Annual Report 2025
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Docusign Envelope ID: CB24C76D-B116-8CDF-8039-DE319213DB6E
SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## Notes to the financial statements
## **For the year ended 31 December 2025**
## 1. General information
## 2.2 Going concern
The financial statements have been prepared on a going concern basis. The organisation holds liquid funds sufficient to support its cash flow requirements over the foreseeable future under all scenarios. Therefore, the trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern.
Association of NHS Charities (operating as NHS Charities Together) is a private charitable company registered with the Charity Commission in England and Wales. The registered numbers and address are given on the Reference and Administrative Details page. The activities of the Charity are set out in detail in the Trustees’ Report.
## 2.3 Members’ liability
## 2. Accounting policies
Each member of the Charity undertakes to contribute to the assets of the Charity in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before they ceased to be a member.
## 2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) – Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## 2.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Association of NHS Charities meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## Legacy income
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
Pecuniary legacies are recognised as receivable once probate has been granted and notification has been received. Residuary legacies are recognised as receivable once probate has been granted, notification has been received, and where they can be reliably valued. Residuary legacies with a life interest are only valued where legal title has passed to the Charity.
The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
## Donation income
General donations, donations from fundraising events, corporate and philanthropic income, and direct marketing income are recognised in full in the Consolidated Statement of Financial Activities when entitlement, receipt is probable, and when the amount can be quantified with reasonable accuracy. No account is taken of monies or other assets in the hands of volunteer fundraisers until such monies are banked or the Charity has been notified of the funds collected.
Where the right to receive Gift Aid has been established, the amount receivable is recognised as income in the Consolidated Statement of Financial Activities.
Donated services and facilities are valued and included as income and expenditure, at the price the Charity estimates it would have paid in the open market for an equivalent service or facility that it would have purchased.
## Grant income
Grant income is credited to the Statement of Financial Activities when received or receivable, whichever is earlier, unless the grant relates to a specific future period, in which case it is deferred. Where entitlement occurs before income is received, the income is accrued.
## Membership subscriptions
Membership subscription income is recognised in the year to which it relates.
## Income from trading activities
Income from trading activities is credited to the Statement of Financial Activities when received or receivable, whichever is earlier, unless it relates to a specific future period, in which case it is deferred. Income received in respect of raffles and lotteries is recognised when the draw is made. Income received in advance for future raffles and lottery draws is deferred until the draw takes place.
## Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or completion of the service.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## 2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group’s objectives, as well as any associated support costs. Support costs are allocated between activities on a staff headcount basis.
Grants payable are charged in the year when the offer is made, except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Redundancy and termination payments are recognised when there is a demonstrable commitment on an individual or group basis that cannot be realistically withdrawn.
All expenditure is inclusive of irrecoverable VAT.
## 2.6 Taxation
As a registered charity, the Charity benefits from business rates relief and is exempt from corporation tax on its charitable activities but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates. The subsidiary undertaking does not pay direct tax because its policy is to Gift Aid taxable profits to the Charity.
42 Annual Report 2025
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SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## 2.7 Intangible assets and amortisation
Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straightline basis over its expected useful life.
The estimated useful lives are as follows:
• Computer software: 4 years
## 2.8 Tangible fixed assets and depreciation
Items of equipment, motor vehicles and property are capitalised where the purchase price exceeds £1,000. Leasehold improvements are capitalised where the cost exceeds £10,000.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
At each reporting date, the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straightline method.
Depreciation is provided on the following basis:
- Office equipment: 33% straight-line
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Financial Activities.
## 2.9 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
## 2.10 Debtors
Trade and other debtors are recognised at their transaction price less any allowance for doubtful debts.
## 2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## 2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pretax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.
## 2.13 Financial instruments
## 2.15 Fund accounting
The Group has applied the provisions of FRS 102, Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’. Financial assets and liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. The Charity initially recognises a financial asset or a financial liability at transaction price – for debtors and other creditors this is the settlement amount. Grant commitments over one year are discounted to reflect present value.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in
## 2.14 Operating leases
accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straightline basis over the lease term.
Investment income, gains and losses are allocated to the appropriate fund.
Any transfers between funds and any allocations to and from designated funds are approved by trustees. The cost of raising and administering such funds are charged against the specific funds.
## **3. Income from donations and legacies**
|**3.**
**Income from donations and legacies**||
|---|---|
||Unrestricted
funds
2025
£
Restricted
funds
2025
£
Total
funds
2025
£
1,293,879
638,941
1,932,820
433,492
-
433,492
1,727,371
638,941
2,366,312|
|Donations
Legacies||
|||
||Unrestricted
funds
2024
£
As restated
Restricted funds
2024
£
As restated
Total funds
2024
£
1,739,941
1,467,935
3,207,876
654,907
-
654,907
2,394,848
1,467,935
3,862,783|
|Donations
Legacies||
|||
44 Annual Report 2025
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Docusign Envelope ID: CB24C76D-B116-8CDF-8039-DE319213DB6E
SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## **4. Income from charitable activities**
|**4.**
**Income from charitable activities**|||
|---|---|---|
||Unrestricted
funds
2025
£
Restricted
funds
2025
£
Total
2025
£
572,992
-
572,992
462,240
5,029,383
5,491,623
1,035,232
5,029,383
6,064,615||
|Membership subscriptions
Programme income|||
||||
|||As restated
Unrestricted funds
2024
£
As restated
Total funds
2024
£
415,143
415,143
346,680
346,680
761,823
761,823|
|Membership subscriptions
Programme income|||
||||
## **5. Income from other trading activities**
**----- Start of picture text -----**
Income from fundraising events Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
- -
Fundraising – corporate partnerships 149,835
Fundraising – mass events 151,652 151,652 142,856
Sponsorship 84,760 84,760 52,260
Sector event income 3,714 3,714 79,599
-
Sponsorship and grants 10,234 10,234
250,360 250,360 424,550
6. Investment income
Unrestricted Restricted Total
funds funds funds
2025 2025 2025
£ £ £
Interest on investments and deposits 1,552,747 89,584 1,642,331
Unrestricted funds Total funds
2024 2024
£ £
Interest on investments and deposits 2,276,416 2,276,416
**----- End of picture text -----**
## **7. Expenditure on raising funds**
**----- Start of picture text -----**
Costs of raising voluntary income Unrestricted Total Total
funds funds funds
2025 2025 2024
£ £ £
Direct costs
Fundraising activities 1,314,363 1,314,363 1,963,322
Support costs
Business services 63,426 63,426 55,015
People / HR 87,737 87,737 56,030
Finance 50,302 50,302 34,225
IT 52,154 52,154 30,351
1,567,982 1,567,982 2,138,943
8. Analysis of expenditure on charitable activities
Activities Grant
undertaken funding Support Total
directly of activities costs funds
2025 2025 2025 2025
£ £ £ £
-
Developing the sector, through evolving our role 1,180,769 76,921 1,257,690
as a centre of knowledge and expertise
-
Delivering and facilitating approaches to grow 640,348 142,853 783,201
impact and voice
Leading transformational programmes 2,947,151 6,025,054 241,752 9,213,957
-
Being a sustainable and purpose-led organisation 1,023,409 166,717 1,190,126
5,791,677 6,025,054 628,243 12,444,974
Activities Grant
undertaken funding Support Total
directly of activities costs funds
2024 2024 2024 2024
£ £ £ £
-
Developing the sector, through evolving our role 1,225,897 116,127 1,342,024
as a centre of knowledge and expertise
Delivering and facilitating approaches to grow 373,409 - 37,550 410,959
impact and voice
Leading transformational programmes 2,814,066 2,252,398 394,904 5,461,368
Being a sustainable and purpose-led organisation 814,099 - 196,802 1,010,901
5,227,471 2,252,398 745,383 8,225,252
**----- End of picture text -----**
46 Annual Report 2025
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SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## **10. Analysis of grants**
## 8. Analysis of expenditure on charitable activities continued
**----- Start of picture text -----**
Grants Total
Analysis of support costs Total funds Total funds awarded funds
2025 2024 2025 2025
£ £ £ £
Governance 67,819 100,354 Grants to members 6,025,054 6,025,054
Business services 140,642 202,063
Grants Total
People / HR 194,549 205,790 awarded funds
2024 2024
Finance 109,587 125,703 £ £
IT 115,646 111,473 Grants to members 2,252,398 2,252,398
628,243 745,383
Grants are made to member NHS charities.
An analysis of all grants awarded by region is given below:
9. Analysis of expenditure on charitable activities
Region 2025 2024
Summary by fund type Unrestricted Restricted Total £ £
funds funds funds
2025 2025 2025 East of England 642,041 11,000
£ £ £
London 502,636 435,000
-
Developing the sector, through evolving our role as a centre 1,257,690 1,257,690
Midlands 522,700 187,400
of knowledge and expertise
- National 39,118 -
Delivering and facilitating approaches to grow impact and voice 783,201 783,201
North East England and Yorkshire 1,386,527 173,000
Leading transformational programmes 4,093,789 5,120,168 9,213,957
- North West England 657,407 74,020
Being a sustainable and purpose-led organisation 1,190,126 1,190,126
South East England 1,006,074 116,400
7,324,806 5,120,168 12,444,974
South West 790,704 583,928
Unrestricted Restricted Total
funds funds funds Northern Ireland 325,416 180,000
2024 2024 2024 Scotland 24,608 460,855
£ £ £
Wales 127,823 30,795
-
Developing the sector, through evolving our role as a centre 1,342,024 1,342,024
of knowledge and expertise 6,025,054 2,252,398
-
Delivering and facilitating approaches to grow impact and voice 410,959 410,959
A full breakdown of grants is available direct from the Charity and at www.nhscharitiestogether.co.uk.
Leading transformational programmes 3,546,938 1,914,430 5,461,368
-
Being a sustainable and purpose-led organisation 1,010,901 1,010,901 11. Auditor’s remuneration
6,310,822 1,914,430 8,225,252 2025 2024
**----- End of picture text -----**
|**11. Auditor’s remuneration**||
|---|---|
||2025
£
2024
£|
|Fees payable to the Charity’s auditor
for the audit of the Charity’s annual accounts|19,750
19,215|
|Fees payable to the Charity’s auditor in respect of:
All taxation advisory services not included above
Auditor’s remuneration–trading subsidiary|1,785
-
4,750
4,435|
48 Annual Report 2025
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Docusign Envelope ID: CB24C76D-B116-8CDF-8039-DE319213DB6E
SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## **12. Staff costs**
|**12. Staff costs**||
|---|---|
||Group
2025
£
Group
2024
£
Charity
2025
£
Charity
2024
£
4,129,961
3,393,811
4,129,961
3,393,811
488,579
371,624
488,579
371,624
380,782
338,911
380,782
338,911
4,999,322
4,104,346
4,999,322
4,104,346|
|Wages and salaries
Social security costs
Contribution to defned
contribution pension schemes||
|||
PILON (Payment In Lieu of Notice) payments of £292,948 are reported within wages and salaries. This includes a liability of £72,571
for payments to be made in 2026.
Ex gratia payments of £334,523 were paid to staff as part of the organisation’s restructure and include a liability of £88,214 for payments to be made in 2026; these costs are reported within wages and salaries.
## The average number of persons employed by the group during the year was as follows:
||Group
2025
No.
Group
2024
No.
Charity
2025
No.
Charity
2024
No.
74
74
74
74|
|---|---|
|Staff||
The number of employees whose employee benefits, including PILON and ex-gracia payments following a strategic restructure (excluding employer pension costs) exceeding £60,000 was:
**----- Start of picture text -----**
Group Group
2025 2024
No. No.
**----- End of picture text -----**
||Group
2025
No.|Group
2024
No.|
|---|---|---|
|In the band £60,001–£70,000|8|4|
|In the band £70,001–£80,000|1|2|
|In the band £80,001–£90,000|3|1|
|In the band £90,001–£100,000|1|1|
|In the band £100,001–£110,000|2|2|
|In the band £110,001–£120,000|1|-|
|In the band £120,001–£130,000|1|1|
|In the band £130,001–£140,000|1|-|
|In the band £150,001–£160,000|1|-|
The Charity considers that its key management personnel comprises the trustees, the Chief Executive Officer and the Senior Leadership Team. The total employment costs of the key management personnel were £788,975 (2024: £606,101).
## **13. Trustees’ remuneration and expenses**
During the year, no trustees received any remuneration or other benefits (2024: £NIL).
During the year ended 31 December 2025, travel expenses totalling £2,725 were reimbursed or paid directly to seven trustees (2024: £6,022 to ten trustees).
## **14. Intangible assets**
**----- Start of picture text -----**
Group and Charity Computer
software
£
Cost
Additions 96,000
At 31 December 2025 96,000
Amortisation
Charge for the year 18,000
At 31 December 2025 18,000
Net book value
At 31 December 2025 78,000
At 31 December 2024 -
15. Tangible fixed assets
Group and Charity Office
equipment
£
Cost or valuation
At 1 January 2025 188,685
Additions 746
Disposals (49,969)
At 31 December 2025 139,462
Depreciation
At 1 January 2025 130,949
Charge for the year 31,574
On disposals (49,969)
At 31 December 2025 112,554
Net book value
At 31 December 2025 26,908
At 31 December 2024 57,736
**----- End of picture text -----**
50 Annual Report 2025
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SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## **16. Fixed asset investments**
**----- Start of picture text -----**
Group Listed investments
£
Cost or valuation
Additions 10,000,000
Revaluations (250,191)
At 31 December 2025 9,749,809
Net book value
At 31 December 2025 9,749,809
Charity Investments in Listed
subsidiary investments Total
companies £ £ £
Cost or valuation
At 1 January 2025 1 - -
Additions - 10,000,000 10,000,000
Revaluations (250,191) (250,191)
At 31 December 2025 1 9,749,809 9,749,810
Net book value
At 31 December 2025 1 9,749,809 9,749,810
At 31 December 2024 1 - 1
**----- End of picture text -----**
## **19. Creditors: Amounts falling due within one year**
**----- Start of picture text -----**
Group Charity
Group As restated Charity As restated
2025 2024 2025 2024
£ £ £ £
Trade creditors 152,945 247,689 152,945 247,689
- - -
Amounts owed to group undertakings 12,000
Other taxation and social security 116,141 156,029 110,199 113,973
Other creditors 178,057 - 178,057 -
Accruals and deferred income 361,347 494,644 354,767 487,973
Grants awarded not yet paid 2,100,515 4,229,128 2,100,515 4,229,128
2,909,005 5,127,490 2,908,483 5,078,763
Included in the above is deferred income as follows: Group Charity
Group As restated Charity As restated
2025 2024 2025 2024
£ £ £ £
Deferred income at 1 January 2025 289,873 168,500 289,873 68,500
Resources deferred during the year 326,391 289,873 325,511 289,873
Amounts released from previous periods (289,873) (168,500) (289,873) (68,500)
326,391 289,873 325,511 289,873
**----- End of picture text -----**
The Group holds deferred income in respect of contracts being delivered in 2026 and membership income relating to 2026.
Details of the subsidiary undertaking are given in note 29.
## **20. Creditors: Amounts falling due after more than one year**
## **17. Debtors**
|**17. Debtors**||
|---|---|
|Due within one year|Group
2025
£
Group
As restated
2024
£
Charity
2025
£
Charity
As restated
2024
£
146,602
26,721
146,602
2,721
10,508
59,019
10,508
4,305
535,180
656,045
535,180
656,045
692,290
741,785
692,290
663,071|
|Trade debtors
Other debtors
Prepayments and accrued income||
|||
|**18. Current asset investments**|Group
2025
£
Group
2024
£
Charity
2025
£
Charity
2024
£
25,582,296
41,406,060
25,582,296
41,406,060|
|Short-term investments and deposits||
||Group
2025
£
Group
2024
£
Charity
2025
£
Charity
2024
£
805,442
137,596
805,442
137,596|
|---|---|
|Accrued grants payable to institutions||
## **21. Prior year adjustments**
In the financial statements for the year ended 31 December 2024, income was incorrectly stated, as income relating to memberships was recognised in the year which should have been deferred. The restatement had the effect of increasing accruals and deferred income for the Group and Company at 31 December 2024 from £352,831 and £346,160 as previously reported respectively to £494,644 and £487,973 as restated respectively. The restatement also had the effect of reducing net income of £141,813 thereby reducing the balance of unrestricted general funds at 31 December 2024 by £138,382 from the balance of £5,772,189 as previously reported to £5,633,807 as restated and the restricted fund of National Arts in Hospitals Network at 31
December 2024 by £3,431 from the balance of £27,117 as previously reported to £23,686 as restated.
The prior year figures have been restated to reclassify accrued income from Other debtors to Prepayments and accrued income reducing Other debtors in the Group and Charity from £430,596 and £375,882 to £59,019 and £4,305 respectively and increasing Prepayments and accrued income in the Group and Charity from £284,468 and £284,468 to £656,045 and £656,045 respectively. This is due to the fact that balances included in Other debtors in the financial statements for the year ended 31 December 2024 were accrued income.
52 Annual Report 2025
Annual Report 2025 53
Docusign Envelope ID: CB24C76D-B116-8CDF-8039-DE319213DB6E
SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## **22. Statement of funds**
**----- Start of picture text -----**
Statement of funds– As restated
Balance at Balance at
current year 1 January Gains/ 31 December
2025 Income Expenditure Transfers in/out (Losses) 2025
£ £ £ £ £ £
Unrestricted funds
Designated funds
- - -
Covid-19 Urgent Appeal 6,985,388 (299,960) 6,685,428
- - -
Covid Funds Programme 2,311,679 (1,055,240) 1,256,439
Management
Income Generation Investment 4,034,786 61,101 (32,079) - - 4,063,808
Investment Fund for 5,061,938 - (672,939) - - 4,388,999
Sustainability
- - - -
Staff Wellbeing 5,995,587 (5,995,587)
- -
Innovation Challenge 2,608,553 85,718 (1,710,960) 983,311
Covid Remembrance 2,500,000 - - - - 2,500,000
- -
Volunteering in Health 51,496 462,240 (408,602) 105,134
- - - -
Impact for Health 250,000 (250,000)
-
29,799,427 609,059 (4,179,780) (6,245,587) 19,983,119
General funds
General funds 5,633,807 3,956,651 (4,713,008) (19,914) (250,191) 4,607,345
Total unrestricted funds 35,433,234 4,565,710 (8,892,788) (6,265,501) (250,191) 24,590,464
Restricted funds
Greener Communities - 580,000 (624,803) 44,803 - -
- -
Community Resilience 2,124,802 (1,756,954) 70,000 437,848
- -
National Arts in Hospitals 23,686 32,814 (35,148) 21,352
Network
Restricted donations - 17,389 (17,389) 15,111 - 15,111
- -
Staff Wellbeing 5,127,705 (2,685,874) 6,135,587 8,577,418
Total restricted funds 2,148,488 5,757,908 (5,120,168) 6,265,501 - 9,051,729
Total of funds 37,581,722 10,323,618 (14,012,956) - (250,191) 33,642,193
**----- End of picture text -----**
## 22. Statement of funds continued
**----- Start of picture text -----**
Statement of funds – prior year As restated
Balance at Balance at
1 January As restated Transfers 31 December
2024 Income Expenditure in/(out) 2024
£ £ £ £ £
Unrestricted funds
Designated funds
-
Covid-19 Urgent Appeal 13,449,597 (412,209) (6,052,000) 6,985,388
- -
Covid Funds Programme 4,196,931 (1,885,252) 2,311,679
Management
Income Generation Investment 4,313,343 - (278,557) - 4,034,786
- - -
Investment Fund for Sustainability 5,061,938 5,061,938
-
Staff Wellbeing 87,538 (56,413) 5,964,462 5,995,587
-
Innovation Challenge 2,950,000 333,677 (675,124) 2,608,553
Covid Rememberance 2,500,000 - - - 2,500,000
- -
Volunteering in Health 346,680 (295,184) 51,496
- - -
Impact for Health 250,000 250,000
32,559,347 930,357 (3,602,739) (87,538) 29,799,427
General funds
General funds 5,444,168 4,927,280 (4,847,026) 109,385 5,633,807
Total unrestricted funds 38,003,515 5,857,637 (8,449,765) 21,847 35,433,234
Restricted funds
Greener Communities 59,517 1,139,691 (1,177,361) (21,847) -
-
Community Resilience 2,536,923 304,000 (716,121) 2,124,802
-
National Arts in Hospitals Network 20,390 24,244 (20,948) 23,686
Total restricted funds 2,616,830 1,467,935 (1,914,430) (21,847) 2,148,488
Total of funds 40,620,345 7,325,572 (10,364,195) - 37,581,722
**----- End of picture text -----**
54 Annual Report 2025
Annual Report 2025 55
Docusign Envelope ID: CB24C76D-B116-8CDF-8039-DE319213DB6E
SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## Purpose of funds
## Designated funds
Covid-19 Urgent Appeal – After allocating and awarding the majority of the appeal funds with positive impact, this remaining reserve is intended to support NHS staff, patients and communities beyond the immediate crisis, including the long-term recovery of the NHS. We are planning the most effective use of the remaining funds as part of our ongoing strategy.
Covid Funds Programme Management – This reserve is designated to fund the necessary recovery management of the Covid-19 Urgent Appeal funds, to ensure the correct governance is in place and to maximise the impact of the appeal. In 2025 we continued to support the impact of over 1,800 Covid grants, with over 200 still in active grant management with a value of £29.1m.
Income Generation Investment – As a charity that is relatively new to fundraising, we must prioritise securing a varied and sustainable source of income for our charity. It is essential that we invest in fundraising initiatives that will build our income generation capacity for the future, ensuring that we are well equipped to support our mission over the long term. We paused investment against this fund during the year as we considered our income generation strategy further.
Investment fund for sustainability – This fund is designated to enable the development of NHS Charities Together across all areas, to ensure the organisation is sustainable and in a position to maximise the legacy of the Covid-19 Urgent Appeal, with continued impact for members and beneficiaries in the long term.
Staff Wellbeing – During 2024, the trustees approved the designation of £5,995,587 to support initiatives aimed at improving the wellbeing of NHS staff across the four nations of the United Kingdom. In 2025, NHS England agreed to match fund the portion of this designation relating to England and awarded a £5 million grant to support the Workforce Wellbeing programme. These funds are now restricted for the purposes of this programme, and the fund statement for 2025 has been updated to reflect this.
Innovation Challenge – This fund has been designated by the trustees to establish an Innovation Challenge. Health and healthcare inequality can have a major impact on people’s quality of life and long-term health in later life, so, while the consequences may not be felt immediately, tackling health and healthcare inequalities now will help build a healthier future for all. The Innovation Challenge aims to address some of these inequalities, with an initial focus on breaking down barriers for children and young people.
Covid Remembrance – This fund has been designated by the trustees from the Covid-19 Urgent Appeal funds for the purposes of remembering the lives lost, the ongoing impact on families and communities around the UK, and to mark the contribution made by NHS staff throughout the pandemic. We have been leading moments of remembrance on the anniversary of the onset of the pandemic and we are exploring with stakeholders the best way to allocate funds to enable reflection and a positive lasting legacy from the pandemic.
Impact for Health – This fund has been created following a generous donation from Simply Health to support across all our impact areas, including NHS workforce wellbeing, improving the patient experience, and helping communities to live well. In 2025 we were advised of the donors’ preference as to where to deploy the funds and have allocated and spent them in the year accordingly.
Volunteering in Health – This is a £10 million programme being delivered through a partnership between NHS Charities Together, NHS England and CW+. Building on the recommendations of the NHS Volunteering Taskforce, it is delivering grant funding and tailored support to 15 local systems in England. The programme will speed up change by helping to break down barriers to volunteering, test new volunteering infrastructure models, and develop guidance and best practice for all systems. It aims to influence the policy environment and increase our understanding of the impact of volunteers and volunteering across the NHS, alongside the potential role of NHS charities in helping the NHS to deliver the best care.
## Restricted funds
National Arts in Hospitals Network – The National Arts in Hospitals Network supports all art managers working in UK hospitals, working to ensure that every patient, visitor and staff member can benefit from impactful art interventions that support their recovery and wellbeing. The network provides a place to share best practice, build knowledge and evidence, and celebrate success. NHS Charities Together hosts and contributes to the network to maximise its potential and impact.
Greener Communities – Represents grant funding from Hubbub Foundation UK to be distributed to the Charity’s members and community partners in support of projects that use the health benefits of green spaces to improve the health and wellbeing of NHS staff, patients and communities. This programme will end in 2026.
Community Resilience – Represents funds held for the purpose of building community resilience and reducing out-of-hospital cardiac arrests, including investing in lifesaving equipment and technology, training and recruitment of community first responder volunteers, and ensuring communities have the skills and training to respond.
## **23. Analysis of net assets between funds**
**----- Start of picture text -----**
Analysis of net assets between funds – current year Unrestricted Restricted Total
funds funds funds
2025 2025 2025
£ £ £
-
Tangible fixed assets 26,908 26,908
-
Intangible fixed assets 78,000 78,000
Fixed asset investments 9,749,809 - 9,749,809
Current assets 16,615,060 10,886,863 27,501,923
Creditors due within one year (1,513,141) (1,395,864) (2,909,005)
Creditors due in more than one year (366,172) (439,270) (805,442)
Total of funds 24,590,464 9,051,729 33,642,193
Analysis of net assets between funds - prior year As restated As restated As restated
Unrestricted Restricted Total funds
funds 2024 funds 2024 2024
£ £ £
-
Tangible fixed assets 57,736 57,736
Current assets 40,637,153 2,151,919 42,789,072
Creditors due within one year (5,124,059) (3,431) (5,127,490)
-
Creditors due in more than one year (37,596) (137,596)
Total of funds 35,433,234 2,148,488 37,581,722
**----- End of picture text -----**
56 Annual Report 2025
Annual Report 2025 57
Docusign Envelope ID: CB24C76D-B116-8CDF-8039-DE319213DB6E
SECTION 4 FINANCIAL STATEMENTS 2025
SECTION 4 FINANCIAL STATEMENTS 2025
## **24. Reconciliation of net movement in funds to net cash flow from operating activities**
||Group
2025
£
Group
As restated
2024
£
(3,939,529)
(3,038,623)
31,574
41,786
18,000
-
250,191
-
(1,642,331)
(2,276,414)
49,495
2,740,150
(1,550,639)
(6,611,443)
(6,783,239)
(9,144,544)|
|---|---|
|Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Loss on investments
Interest on investments and deposits
Decrease in debtors
Decrease in creditors||
|Net cash used in operating activities||
## **25. Analysis of cash and cash equivalents**
|**25. Analysis of cash and cash equivalents**||
|---|---|
||Group
2025
£
Group
2024
£
1,227,337
641,227
25,582,296
41,406,060
26,809,633
42,047,287|
|Cash in hand
Short-term investments and deposits||
|Total cash and cash equivalents||
## **27. Operating lease commitments**
At 31 December 2025 the Group and the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|At 31 December 2025 the Group and the Charity had
under noncancellable operating leases as follows:|commitments to make future minimum lease payments|commitments to make future minimum lease payments|commitments to make future minimum lease payments|
|---|---|---|---|
||Group
2025
£
Group
2024
£
Charity
2025
£
Charity
2024
£|||
|Not later than 1 year
Later than 1 year and not later than 5 years|-
-|1,668
-
278
-|1,668
278|
||-|1,946
-|1,946|
## **28. Related party transactions**
During the year, the Charity received a distribution of £39,926 (2024: £245,865) in the form of a Gift Aided donation from ANC Trading Limited, its subsidiary undertaking. At the year end, an amount of £12,000 was owed to the subsidiary (2024: £Nil).
The Charity purchased trustee indemnity insurance (£5 million cover) as part of a broader management liability package.
A majority of trustees also held a post with a member charity that was eligible for and received member services and grants during the year. All member charities were allocated grant funds on an equitable basis and no part of any grants paid to a member charity directly benefited any trustee.
## **29. Principal subsidiaries**
## **26. Analysis of changes in net debt**
|**26. Analysis of changes in net debt**||
|---|---|
||At 1 January
2025
£
Cash
fows
£
At 31 December
2025
£
641,227
586,110
1,227,337
41,406,060
(15,823,764)
25,582,296
42,047,287
(15,237,654)
26,809,633|
|Cash at bank and in hand
Short-term investments and deposits||
|||
The following was a subsidiary undertaking of the Charity:
|Name|Company number|Principal actvity|Holding|
|---|---|---|---|
|ANC Trading Limited|12608754|Raising funds for NHS Charities Together by
facilitating commercial fundraising activities|100%|
|The fnancial results of the subsidiary for the year were:
Name
Income
£
Expenditure
£
Surplus for the year
£|||Net assets
£|
|ANC Trading Limited|10,234
(4,433)
5,801||5,802|
The above results are included in the consolidation.
58 Annual Report 2025
Annual Report 2025 59
Docusign Envelope ID: CB24C76D-B116-8CDF-8039-DE319213DB6E
SECTION 4 FINANCIAL STATEMENTS 2025
## **Reference and administrative details of the Charity, its trustees and advisers**
## For the year ended 31 December 2025
## Senior Leadership Team
## Trustees
S L Armstrong* S Brampton* C R Burghes MBE (resigned 8 November 2025) J Clarke*
S Campion (Director of External Affairs and Communications) C Clements (Chief Operating Officer) C Easton (Director of Strategy and Impact, left 31 Dec 2025)
T H Diggle, Deputy Chair J H Ferguson (resigned 17 September 2025) N Gilham*
L McCathie (Director of Fundraising, left 30 May 2025) S Reynolds (Business Services Director)
C J Harrison* (resigned 1 December 2025) J E Mee
As part of the restructure the following roles were added to the Leadership Group in December 2025:
P S Phippen, Chair K Rehman* J Revill
J Jorgensen (Associate Director of Communications and Engagement)
A Singh
G Morgan (Associate Director of Finance and Operations) L Worth (Associate Director of Policy and Influencing)
K L Thomson*, Joint Deputy Chair (resigned 11 April 2025) A Tiernan*
## Independent auditor
## Company registered number
Cooper Parry Group Limited Cubo Birmingham, Office 401, 4th Floor, Two Chamberlain Square, Birmingham, B3 3AX
12325259
## Charity registered numbers
1186569 and SC050716
## Bankers
## Registered office
The Co-operative Bank, Delf House, Southway, Skelmersdale, WN8 6WT
Suite 68, Lake View House, Wilton Drive, Warwick, CV34 6RG
## Solicitors
Withers LLP, 16 Old Bailey, London, EC4M 7EG
## Company secretary
E Orton OBE
## Investment manager
Chief Executive Officer E Orton OBE
CCLA Investment Management Ltd, One Angel Lane, London, EC4R 3AB
* Member Trustee for all or part of the financial year ended 31 December 2025
60 Annual Report 2025
Docusign Envelope ID: CB24C76D-B116-8CDF-8039-DE319213DB6E
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