The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their annual report together with the financial statements for the year ended 31 January 2026.
The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), 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).
Aims and Objectives
The objectives of the Charity remain unchanged from previous years: to promote, preserve, and protect the health of the public by carrying out research, making the results publicly available, and providing information and advice on safety and standards in patient care to policymakers, service providers, and patients. Our work focuses particularly on preventing error and harm in healthcare.
Governance and leadership
Governance and leadership arrangements remained consistent with those set out in our report for the year ended January 2025.
Research Programme
Our partnership with Imperial College London continues to the primary focus of our research programme. In 2025, Patient Safety Watch worked in partnership with the Institute of Global Health Innovation at Imperial College London to produce our fourth major research report.
The Global State of Patient Safety 2025 report was launched by UK Health Secretary, Wes Streeting, at an event in the House of Lords in London on 29 January 2026.
The report compares patient safety performance across 38 OECD countries using four internationally comparable indicators. The analysis identifies wide variation in safety outcomes between health systems, with Norway ranked highest overall and the UK ranked 21st, unchanged since 2023.
The findings highlight significant patient safety challenges for the UK, including high levels of preventable deaths from treatable conditions, stalled progress in neonatal mortality, higher-than-average rates of surgical complications, and longer waiting times for complex planned care. Together, these indicators point to persistent and measurable safety gaps that expose patients to avoidable harm.
The report also demonstrates that improvement is achievable and draws on international evidence to set out clear priorities for safer healthcare systems. It has been widely welcomed and endorsed by policymakers, clinicians, researchers and patient safety organisations, and is supported by an interactive global patient safety dashboard to enable transparency, comparison and ongoing monitoring of progress.
Policy and Parliamentary Engagement
In November 2024, Patient Safety Watch helped support the establishment of the All-Party Parliamentary Group (APPG) on Patient Safety, chaired by the Rt Hon Sir J Hunt and supported by more than 20 MPs.
Together with two other leading UK patient safety charities, PSW provides the APPG’s secretariat, coordinating its activities and supporting evidence-based debate in Parliament.
To date, the APPG has:
Held ten meetings in Westminster with expert speakers and wide-ranging discussions;
Submitted written evidence to the Dash Review and the NHS 10-Year Plan;
Submitted proposals to enhance the oversight and implementation of patient safety recommendations across the NHS.
In January 2026, the APPG held a major Patient Safety Symposium in Westminster, bringing together patients, frontline staff, academics, system leaders, and MPs to share insights and solutions.
Future Research Programme
Building on its previous reports, the Charity is currently working with the Institute of Global Health Innovation on its fifth major research report. Scheduled for publication in January 2027, the National State of Patient Safety report will provide a detailed assessment of patient safety in the UK.
The Charity remains committed to commissioning and publishing an annual programme of major research. This programme supports our mission to improve patient safety and reduce harm by generating robust evidence, sharing findings, and promoting effective policies and interventions.
Collaborative partnerships
In 2026, the Charity established a new partnership with the Patient Safety Movement Foundation (PSMF), a US-based non-profit working to eliminate avoidable harm in healthcare worldwide. Through this collaboration, Patient Safety Watch is supporting the creation of a UK PSMF chapter. Working with PSMF and its global chapters will advance the Charity’s objectives by broadening the reach of our research and enabling greater sharing of proven strategies and interventions to reduce avoidable patient harm.
Communications and Engagement
Patient Safety Newsletter
The Patient Safety Newsletter remains a cornerstone of our communications strategy. Published fortnightly and distributed via the Health Service Journal (HSJ), the newsletter continues to expand in reach and influence. The newsletter continues to be written alternatively by the Rt Hon Sir J Hunt and Mr J R Titcombe OBE, providing insights from both policy and frontline perspectives. The newsletter has over 1,100 direct subscribers, alongside a significantly wider readership through HSJ.
Westminster Patient Safety Symposium 2027
In partnership with our research partner, Imperial College, London, the Charity is planning to host a major patient safety event in Westminster in January 2027. The event will include the formal launch of the National State of Patient Safety report as well as key notes talks and panel sessions attended by national and international patient safety experts.
In the financial year to 31 January 2026, the Charity received income of £139,546 (2025: £159,544) and incurred total expenditure of £108,162 (2025: £154,544). The Charity had therefore recorded net income of £31,384 (2025: £5,000).
We are pleased to confirm the continued support from The Kiani Family Foundation (previously The Masimo Foundation), who donated $60,000 during the year, in line with our annual report for the year ended 31 January 2025. We are also very thankful to have received a three year commitment from The Kiani Family Foundation, that this support will continue at the same annual level of $60,000.
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 of three 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.
Looking ahead, the Charity will:
Continue its collaborative research programme with Imperial College London, producing one major report each year;
Build our collaborative relationship with the PSMF to expand global collaboration and sharing of patient safety learning.
Maintain and expand its Patient Safety Newsletter to inform and influence key audiences;
Support and grow the APPG on Patient Safety to ensure the issue remains central to parliamentary debate;
Develop a longer-term fundraising strategy to secure future income, enabling long term continuation of its scope of research, engagement, and advocacy work.
Through this sustained programme of activity, Patient Safety Watch will continue to contribute meaningfully to improving patient safety and reducing avoidable harm in healthcare.
The Charity is controlled by its governing document, its articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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:
Trustee Recruitment
New Trustees are appointed by existing Trustees by a majority vote.
Risk Management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees have identified the following as significant risks to the Charity: over-reliance on limited sources of income, reputational damage, lower income than expected, and failure to secure a research partner. The Trustees are satisfied that appropriate measures are being taken to mitigate these risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11761835 (England and Wales)
Registered Charity number
1185650
Registered office
5 Technology Park
Colindeep Lane
Colindale
London
NW9 6BX
Trustees
Mr J R Titcombe OBE
Mr D Grunberg FCA
Dr M Durkin OBE
Rt Hon Sir J Hunt
Chief Executive
Mr J R Titcombe OBE
Independent Examiner
Grunberg & Co Limited
Chartered Accountants
5 Technology Park
Colindeep Lane
Colindale
London
NW9 6BX
Solicitors
Stone King LLP
Boundary House
91 Charterhouse Street
Barbican
London
EC1M 6HR
Bankers
HSBC Bank PLC
8 Canada Square
London
E14 5HQ
The Trustees' report was approved by the Board of Trustees.
I report to the Trustees on my examination of the financial statements of Patient Safety Watch (the Charity) for the year ended 31 January 2026, which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Gedalia Waldman BA FCA
Grunberg & Co Limited
Chartered Accountants
5 Technology Park
Colindeep Lane
Colindale
London
NW9 6BX
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
Patient Safety Watch is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, London, NW9 6BX, United Kingdom.
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” (“FRS 102”) 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)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity is not deemed large as defined under paragraph 14.1 of the Charities SORP (FRS 102) and has therefore not prepared 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 a period of at least twelve months from the date of approval of these financial statements. Accordingly, 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.
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.
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
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 are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
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.
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
Pension costs and other post-retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Expenditure includes payments to the independent examiner of £3,415 (2025: £3,415) for independent examination fees, and £666 (2025: £1,817) for other services provided.
No payments were made to a defined contribution retirement benefit scheme within support costs in the current or prior year.
Other than the employee noted in note 7, none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
The average monthly number of employees during the year was:
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.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
During the year, the charity received an unrestricted donation of £24,000 (2025: £nil) from the Rt Hon Sir J Hunt.
In the prior year, £2,000 was paid to Patient Safety APPG who, as noted in the Trustees' Report, is chaired by the Rt Hon Sir J Hunt. No payments were made in the current financial year.