The investigation of heat pumps employing natural refrigerants as working fluids has gained substantial momentum, driven by increasingly stringent regulations addressing the global warming potential (GWP) and ozone depletion potential (ODP) of refrigerants. Propane (R290) stands out as an attractive option due to its low GWP and zero ODP. However, a major drawback of propane lies in its flammability. When using propane as working fluid, it will therefore be necessary to limit the total refrigerant charge within the system, without compromising on the heat pump performance. This study endeavors to address this challenge by developing a model of the refrigerant charge distribution in a critically charged heat pump system consisting of an evaporator, a compressor, a condenser, and an expansion valve. In the model, the charge distribution in the two heat exchangers is modelled in detail using a suitable void fraction correlation. For the compressor and expansion valve, a simplified model is employed, in which no refrigerant charge is calculated. Using an iterative procedure, the model can then be used to determine the coefficient of performance (COP), evaporator- and condenser pressure for a heat pump with an established total charge and heat capacity. The influence of different design and operation parameters, such as the degrees of subcooling and superheat, the volume ratio of the evaporator and the condenser, etc., can be assessed.