The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The Health Equality Foundation exists to close the gap in access in health outcomes that persist across gender, socioeconomic background and ethnicity, by building the evidence for healthcare designed around need, not norms.
Charitable Aims
Service design: to build healthcare infrastructure around the communities with greatest need.
Clinical practice: to address the biases embedded in clinical training and professional culture that produce unequal care and experiences even within well-designed services.
Health research and education: to close the gaps in knowledge about under-researched conditions and communities and making the case for research funding that reflects genuine need rather than established priorities.
Community voice: to centre the experiences of those most affected, including through large-scale national surveys and qualitative research that puts women's and communities' voices at the heart of the evidence base.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Report on the status of women’s health and women’s health services in the UK
In 2025, Health Equality Foundation (then 'Create Health Foundation') commissioned national and representative polling of 5,000 people across the UK and published a report on the findings called ‘Women’s Health in the UK - Time for Change.’
At the time, the report was one of the largest nationwide surveys on women’s health. The aim of this research was to understand how women in the UK experience women’s health care and how women’s health conditions impact their daily life, in order to both raise awareness of the issues and come to recommendations to tackle them. It found that many women were forced to pay for private healthcare and that the majority of women had no awareness of Women’s Health Hubs – a government initiative to improve women’s healthcare with faster diagnosis and treatment in dedicated centres within communities.
We launched the report in May 2025 in Parliament, with the support of the Minister for Women’s Health, MPs and women’s health specialists and campaigners. Further work will be carried out to address the issues in women health services within communities.
The results for the year are set out on page 5.
Income was £1,548 (2024: £46,600) and expenditure was £7,233 (2024: £121,443), resulting in net expenditure of £5,685. Unrestricted funds at 31 December 2025 were £28,970, represented by cash of £29,762 less creditors of £792.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The charity is a company limited by guarantee, governed by its Memorandum and Articles of Association, was incorporated on 5 January 2000 as a company limited by guarantee and not having a share capital. The company was registered with the Charity Commission on 30 August 2000.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
New trustees are appointed by the existing Board, with the aim of establishing a balance between trustees with an appropriate medical background and with particular skills and experience appropriate to charity's activities.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The board of trustees, which is currently made up of two members, administer the charity. The board meets regularly to agree the general strategy area, covering development, activity, performance and policies of the charity as appropriate.
The trustees' report was approved by the Board of Trustees.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Health Equality Foundation for the year ended 31 December 2025, set out on pages 5 to 10 from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/rulebook.html.
It is your duty to ensure that Health Equality Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Health Equality Foundation. You consider that Health Equality Foundation is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Health Equality Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Health Equality Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Office 439, 33 Cavendish Square, London, W1G 0PW.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Donated professional services and facilities are recognised when receivable, where the value can be measured reliably, with a corresponding charge to expenditure. They are measured at their value to the charity. General volunteer time is not recognised in the financial statements.
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.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
As the charity has one reported charitable activity, all support and governance costs are allocated to that activity.
None of the trustees received any remuneration or other benefits from the charity during the current or preceding year.
No trustee expenses were reimbursed or paid directly by the charity in 2025 or 2024.
The average monthly number of employees during the year was:
The trustees comprise the charity's key management personnel. Total employee benefits received by key management personnel were £nil (2024: £nil).
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
During the year, the charity received an unconditional donation of £1,548 (2024: £1,548) from Social Impact Campaigns and Enterprises Ltd, a company in which Professor Geeta Nargund, a trustee and director of the charity, is a director and shareholder. No amount was outstanding at 31 December 2025 and no conditions were attached to the donation.
All trustees have provided assistance to the Foundation through a variety of actions: these have not been quantified.