THE ROYAL COLLEGE OF PHYSICIANS OF LONDON
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net unrestricted operating loss of £181k for the year, though a surplus of £377k was achieved after adjusting for trust fund transfers. Free reserves net of lease liabilities stood at £13m, representing close to four months of unrestricted operational expenditure, which the trustees consider a significant improvement on the prior year. The Board of Trustees confirmed that adequate levels of cash and reserves exist to support the charity on a going concern basis through at least September 2026.
What the accounts disclose
“Donations totalling £333 (2023: £933) were received from two trustees in the year (2023: 3).” — page 77
“The total transactions in the year from the RCP Regent’s Park Limited to the RCP totalled £2,356k, with the RCP as at 31 December 2024 owing the trading company £1,648k in relation to an intercompany balance.”
“Donations totalling £333 (2023: £933) were received from two trustees in the year (2023: 3).” — page 77
“The total transactions in the year from the RCP Regent’s Park Limited to the RCP totalled £2,356k, with the RCP as at 31 December 2024 owing the trading company £1,648k in relation to an intercompany balance.”
“Following the EGM, we commissioned The King’s Fund to undertake an independent review to support our learning. We accepted the report’s recommendations in full and developed an action plan to implement them.” — page 5
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Anne Marie Millar
- Dominic Whittle
- Dr Diana Marion Walford
- Dr Eileen Burns
- Dr Ganesh Subramanian
- Dr Hilary Jane Williams
- Dr Omar Mustafa
- Katie Smith
- Professor John Bateson
- Professor Mumtaz Patel
- Professor Rowan Harwood
- Professor Simon Bowman
- Professor Thomas Solomon
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £44.4m | £44.7m |
| 31/12/2023 | £42.5m | £43.3m |
| 31/12/2022 | £38.4m | £38.9m |
| 31/12/2021 | £34.6m | £33.9m |
| 31/12/2020 | £31.0m | £34.3m |
Common questions
Is THE ROYAL COLLEGE OF PHYSICIANS OF LONDON financially healthy?
The accounts state that the charity reported a net unrestricted operating loss of £181k for the year, though a surplus of £377k was achieved after adjusting for trust fund transfers. Free reserves net of lease liabilities stood at £13m, representing close to four months of unrestricted operational expenditure, which the trustees consider a significant improvement on the prior year. The Board of Trustees confirmed that adequate levels of cash and reserves exist to support the charity on a going concern basis through at least September 2026. Its FY2024 accounts were audited by Crowe U.K. LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 28/05/2004 | £50k | "Flesh and Blood" |