THE NUFFIELD ORTHOPAEDIC CENTRE CHARITY
C.HARITY NO.. 1006509
TRUSTEE
' REPORT AND ACCOUNTS
IL 2023

THE NUFFIELD ORTHOPAEDIC CENTRE CHARI
TRUSTEES. REP
RT
The Trustees pres¢nt their Report. iogether with the Accounts. for the year ended S, April 2023.
The Trllsiees confim) that the Accounts comply with current statutory requirements, and requirements of the Charity's governing
document.
Le
al & Administrative Infomiaiion
Registered Charity No..
1006509
Principal Office Address..
Nuffield Orthopaedic Centre Appeal,
Nuffield Orthopaedic Centre.
Headington,
OxfoTd.
OX3 7HE
Patron
Her Royal Highness. The Duchess of Comwall
President
Rt. Hon. Lord Tebbit CH
Tru5t¢es and Principal Offi¢ers'.
C. Johnstone Ichaimianl
E. D. J. Thoma5 (Depuly-chairnian)
Mrs. J. Franklin MBE (Appeals Director)
R. N. Edwards (Hon. TreasuTer}
P. 5. c.andy
Prof. A. J. Carr (resigned 8, Ociober 2024)
C. R. Dick (resigned 3, October 2023)
DT. R. J. Adsetts
Prof. J. Rees Ex-Officio- DiYec¢or of thtr BoiKar Research Cenire
Prof. R. G. G. Russell (resigned 8, October 2024)
I. K. TTeacy (resigned 8 O¢tober 20241
Mrs. S. Woolla¢ott
Banks..
National Westminster Bank plc..
121 High Street.
Oxford.
OXI 4DD
Barclays Bank plc..
Oxford City.
P.0. Box 333.
Oxford
Ac¢ouniants'.
Wtlkins & Co.,
Accountants.
25A Market Square.
Bi¢est¢r.
Oxon.
OX26 6AD
AuditOTS'.
Edwin Smith,
Chartered A¢¢ollntants.
32 Queen$ Road.
Reading,
Berks.
RGI 4AU

THE NUFFIELD ORTHOPAEDIC CENTRE CHARITY
TRUSTEES, REPORT
Continued
Statement of Trustees, Re5
onsibslities
C'harity Law requires the Trusiees to prepare financial siatem¢nts for each financial year, in accordance with United
Kingdom Generally Accepted Accounting Practice (United Kingdom A¢couniing StandaTds and appli¢able lawl. The financial
statements are required by law to give a true and fair wiew of ¢h¢ stale of affairs of the Charity and of its incoming resource5 and
appli¢ations of resources of the Charity for that period. In prepaTing these financial statemellts. the Tnksiees should follow best
practice and..-
Seleci suitable accountin¥ polieies and then apply them coN515tently.
Observe the methods and PTinciples irt the Charities SORP.
Make judsements and estimates that are reasonable and prudent.
d. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and
explained in the financial statement5.
Prepare the financial staiem¢nis on the 80inuJ concern basis, unless it is inappropriate to assum¢ (hat the Charity will continue
to function.
The Trustees are responsible for keepin8 proper accounting records, which disclose. Wlth reasonable accuracy. the financial
position of the Charity, and to enabl¢ ihem io ensure that, where applicable, the financial statements comply with the
Charities A¢t 201 I, the Charity (Account5 and Reports) Regulations 2008 and th¢ provisions of the trust deed. They are also
respoiisible for safeguarding the assets of the Charity, and hen¢¢ for taking reagonable steps for the prevention and deteetion
of fraud or oiher irregulaTltie5.
Governance & fvlana
emeni
The Charity's constitution was adopted on the 7 October 1991, and amended by resoluiion on 10 July 1995. in order to
provide funding generally for the hospi￿1 and research. whereas it had b¢en restricted originally to ihe trAJildin8 of the Tebbit Centr¢.
Th¢ Committee shall ¢onsist of the 0￿)(¢rS of ihe Charity. and not les5 than six or more than sixteen other persons. The
Director of ¢h¢ Boinar Re5eaTch Centye shall be an ex otTicio tn¢mb¢r of the Committee (Amended 12, June 2012).
All other Trustees have been appoinied by Election.
No person shall IK a Member of the Committee who is not a Trustee of the Charity.
The appointment of new Trustees is subject to the approval ot'ihe Board of Trustees. Appointees are inierviewed by ihe
Chairnan and one other Trustee, and are provided with full infomiaiion about the Chari¢y before beitLgJ invi¢ed to join the Board. New
Trustees are given an appropriate induction progrdmme to the WOTkings of the Charity, and receive training as ne¢essary.
The Trustee Mernbers meet four times a year ¢0 administer the Chariry.
The Board delegaie ihe day to day running of the Charity to the Appea15 Director who 15 assisi¢d by part-titne staff. Th¢ pay
of the Appeals Director 15 set by the Trustees and reviewed annually.
The Board M¢mbers have overall responsibility for ertsurin8 that the Charity ha5 appropriate systems tsf control, financial
and otherwise. The5¢ sysiems should provide reasonable ASSUTance that=_
the charsty is operating effici¢ntly and effectively:
its a55ets are safeguaTded against unauthO￿$¢d llse or disposition,.
proper records are mainthined and financial informatson used within the charity. or for publi¢ation. is reliable, and
the charity complies wilh relevant laws and regulations.
The systems of internal control are designed to provid¢ reasonable, but not absolute. assurance against material
mi5Statement or Ios5, they include.
regular consideration by the Trustee5 of financial results. and
delega¢ton of authority and segregation of duiies as defined above.
Related Parties
The Charity has a close relationship with Nuffield Orthopaedics Ltd throllgh which the building work on the Botnar Research
Centre is Carried out. NutTield OrthopaedLC5 Ltd is A ¢ompany limited by guardntee and it5 Six dir¢ciors are also trustee$ of the
Charity-

THE NUFFIELD ORTHOPAEDIC
ENTRE CHARITY
TRUSTEES. REPORT
Continued
Risk Review
The Trus¢e¢s have assessed the major risks to which th¢ Charity may be ¢xwsed. irt particular those related to the operation
and finan¢£s of the Trusi, and are Satisfied that sysiems are in place to mitigate their exposure to the major risks.
The Trustees are aware of the following..
That they ac¢ept the heaTry reliance on Mrs. Frartklin
Thai they rely mainly on one principal donor
The reputational risk to our fund raisins if the hospi¢al or the Botnar suffer si8nificant reputational damage
Th¢ Trustees take legal and other professional advice wherever necessary. and will alway5 continue ro do so.
Ob'ectiv¢s and Activities
The objects of the c.harity are as follows..
To relieve sickness and physical di5abiliiy, and lo prornote good health by supporting the Nuffield Orthopaedic Centre and in
particular. but without prejudice to the generality of the foregoing, by as515ting in the raising and provision of funds for new
buildings, facilities and equipment.
To advallce iesearch (and the dissemination of the use￿1 results ther¢ofj. teaching and study in all aspects of musculoskeletsl
disord¢r for the public b¢nefit.
The Trustee5 confimi that they have referred to the guidance contained in the Charity Commission's general guidance
on public benefii when revÈewing the Charity'5 aims and objectives and in planning future activities.
The Trustees of ihe Nuffield Orthopaedic Centre Charity administer the Nuffield Orthopaedic Centre Appeal and the
Nuffield Orthotics Appeal.
The Trusiees under iheir fornier Chairnian. MT. E. D. J. Thoma5 and current C.haimian. Mr. C. Johnstone. have ¢ontinued to
s¢ek donaiions and raise monies for ihe Nufyield Onhopaedic Centre Appeal, the BotllaT Research Centre, and to receive donations for
the NulTield Orthotics Appeal.
A¢hievemenis and Performance
The Nutyield Orthotic
No income has been Teceived by the Nuffield Orthotics Appeal during the year under review. The Appeal will for an
indefinite period. continue to receive donaiion5 and legacies. The Charity c.ommissioners in May 2001 approved a S¢hem¢ so that the
Trustees of the Nuifield Orthoiics Appeal may use any donated funds or legacies for.-
l. The reli¢fof person5 suffcring from any form of musculoskelethl di50rder.
2. To advance research and the dissemination of the useful results of such research in all aspect5 of musculoskeletal
disorder.
The Nuffield Ortho
ic Centre A
eal
The Nuffield Orthopaedic Centre Appeal was launched in 1996 initially to raise £6.6 million for a hydrotherapy pool, a new
children's ward and two adult warcls. which were Completed, as part of the overall PFI redevelopment in 2007, with ihe new buildings
being officially opened by HRH The Duchess of Cornwall on the 3 July 2007.
The Appeal is continuing io assist the hospital with funding for projects not funded by ihe NHS including the children's
outpatients. the 5POrts injury setvi¢e. art projects and tnore. Funding for r¢search proj¢cis is ongoing.
Botn8r Resear
h Cenire- To date ha5 been built irt 3 Phases. with iht construction of the 4th Phase nearing completion.
The I. Pha5e- Boinar l is laboraiory based and was opened in 2002.
The Phase- Botnar l A. was built in 2010 and ctsnsists of meeting and seminar rooms. Bolnar l and l A
provides accommodation for 120 s¢ientlS15 and dociors.
The 3, Phase- BotnaT 2, houses 120 clinical researchers, ¢pidemiologists and statisticians and was completed in
2012
The 41h Pha5e- Botnar 3, the constru¢tion of Btstnar 3 started in 2020 and wa5 Otyicially opened in 2022. Once fvlly
opeTational it will house l ?0 scientisis and doctor5 who will be working on advanc¢d clillical trial$.

THE NUFFIELD ORTHOPAEDI
ENTRE CTrI
RITY
Pa
TRUSTEES. REPORT
C.oniinued
The Botnar Research Centre continued
The Botnar Re5ear¢h C.¢ntre con5isis of over 6.000 square metres and Cost over £17 million and 15 owned by ihe charitable
company Nuffield Orthopaedics Ltd and leased to the University of Oxford until 2062. The Charity raised all of the funds for the
Centre which 15 now th¢ largest in Europ¢.
The Trustees Intelle¢tu31 Property Rights Policy is that the research is for the public benefir and no individual benefits from
charltable funds. The Univer51ty is an exempt charity and ha5 an obligaiion to publish.
General
The Nuffield Orthopaedic Centre was merged with the John RadLliff¢ and other Oxford hospitals to fomi the new Oxford
Universiry Hospitals NHS Trust on l November 2011. The Nuffleld Orthopaedic C.entre is a Division of ihe Oxford
University Hospita15 NHS Trust.
Financial Review
Cjencral
The Charity receives funding from individuals, paii¢nts. companies, charitable trusi& le8acies and bank interest from
deposits plus lax repayments via Gift Aid.
These funds have been spent in 8rants to the hospital.
Reserves Polic
The Charity's financial position has continued io be totally secure, in thai at no tiTne have commitments been made before
monies have been raised. The TTUStees intend that this policy will continue for all fuiure new building WOTk. for the protection of
benefa¢¢ors and Trustees. The Charity en5ure¥ that sufficient funds are in reserve for two years adminisiraiion costs of the Charity
amountillg to £200.000, should there be limes when in¢ome 15 lower ihan charitsble expendi¢ure.
GranL Makin
Polic
Various grants in Te5PeCt of the h05Pital are always being considered. but only given vihen fundin¥ is in place.
Investment Polic
The monie5 and property of the Charity not immediately required for the purpose of the Charity may be htld or Yested in
such persons. whether Members ofthe Charity or noi, as the Committee may from time to time determine as Holding Trust¢es.
Because the Charity's poli¢y LS to only Commit to expenditure once 5uIYicient monies have b¢en raised all funds are held on
deposit or otherwise invested with banks. The Charity only places 5urh monies with one OT more of th¢ major UK High Street Banks.
No funds are invested In equities or other insiruments. which are Subject to market risk.
The TTUStees have considered ihe most appropriate policy for th¢ inve5tmwit of funds, and have always been aware that
funds must be protected from movements not always under their control. The poli¢y 15 to have minimal risk. with maximising income
as fund5 are needed for short-term expenditure. with protection given to benefactors.
Current Plan5 for ihe Future
The Charity seeks to raise funds to support the hospital for project$ and equipment on the hospital site that cannot be
provided by the NHS. The Trustees have also been ac¢umlllaling funds to constnjct an additional building for the Botnar Research
C.enire (Botnar 3} with buildingj work havin¥ commenred in 2020.Al¢hough Botnar 3 was officially opened in Jartuary 2022. certain
Tninor WOTks to compleie the building are still ongoing.
OHNSTONE
(On behalf of th¢ Board of Tru5tee5)

THE NUFFIELD ORTH
AEDIC CENI-
ARITY
INDEPENDENT AUDITORS, REPORT TO THETRUSTEES OF
THE NUFFIELD
RTHOPAEDIC CENTRE CHARITY
Opinio
We have audited the fLnan¢ial statement5 of Nu￿le[d Orthopaedic C.entre Charity lthe'"C.harity") for the year ended 5 April 2023
which ¢ompri5e statement of financial activiiies. balance sheei, statement of cash flows and notes to lh¢ financial statemenis.
including a summary of significant a￿oUntIng policies. The financial reporting framework thai has been applied in their preparation is
applicable law and United Kingdom Accounting Standards. includings Financial Reportirtg Standard 102.. The Financial Reporting
Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Ac¢epied Accountirtg Practice).
In our opiniort, the financial ststements=
8iwe a true and fair view of the state of the Charity's affairs as at 5 April 2023 and of its income and expenditure for the year
then ended;
have been properly prepaT¢d in acrtsrdance with United Kirtgdom Generally Accepted Ac¢ollniin8 Practice;
have been pr¢pa¥ed in accordance with ¢he requirements of the Charitits A¢t 2011.
Basis for opinion
We Conducted our audit in accordance with Intemation81 Standards on Auditing (UK} IISAS (UK)) and 2pplicable law. (￿r
responsibilitie5 under those Standards are furtheT descrihed in the Auditor's responsibilities for the audit of the financial siatemerht5
section of our rewrt. We are independent of the Charity in accordance with the ethical requirements that are relevant io our audit of
the financial statem¢nts in the UK, including the FRC'S Ethical S¢andard. and we have fulfilled our other ethical responsibilitie5 in
a¢¢ordance with these requirements. We believe that the audii evidence we have obtained is sulyjcient and appropriate to provide a
basi5 for our opinion.
Con¢lusion5 relating to going concer
In audtiing the financial statements, we have concluded that the trustees use of the going conrern basis of a¢¢ountin8 in the
preparation of the financial statetnents is appropTiate.
Based on the work we have performed, we have not identified any material uncertaintie5 relating to events or condiiions that.
individually or coll¢¢tiwely, may rast Sl8nificant doubt on ihe Charity'g ability to ¢ontinue as a going con¢em for a peTiod of at least
12 mLinihs from when the financial statements are auihori5ed for issue.
Our resp)nsibilities and the responsibilities of the trustees with resp¢ct to going concem are described in the relevant sections of this
report.
Other irtformatio
The other inforniation comprises the information inLluded in the annual report, including ihe trllstees. report, other than ihe financial
siatements and our auditor's report thereon. The trustee5 are responsible for the other information contained within the annllal report.
Our opinion on ihe fJnan¢ial statements does not cover the other infom)ation and. except to the extent otherwise explicitly stated in
our report. we do not ¢xpress any forni of asguran¢e Conclusion ihereon.
Our responsibility is to read the other information and. in doing so, Consider whether the other inforniation is materÉally in¢on515tent
Wlth lh¢ financial statemenis or OUT knowledge obtained in the audii or otherwise appeaTS to be materially misstat￿. If we identify
such mat¢rial inconsistencies or appareni material misslatemenis. we are required to ddermine whether thi5 ¥ives rise to a material
ni55$1atement in the financial statements themselves. If. based on the work w¢ have perfortned, we conclude that there is a mai¢rial
misstatemeni of thi5 Other infortmation. we are required to report that fact.
We have nothin8 to report in this regard.

THE NUFFIELD ORTHOPAEDIC CENTRE
HARITY
tNDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF
THE NUFFIELD ORTHOPAEDIC CENTRE C.HARITY
Continued
Matters on which we #re required to report by exception
In the light of the knowledge arhd understanding of the Charity and its environment obtained in the course of the audit. we have Thx
identified material mi5Stat¢m¢nis in the Tru5tees' Annual Report.
We have nothing io report in respect of the following matters in relation to whi¢h the Charities A¢t 2011 require5 US to report to you
if. in our opinion..
th¢ information given in the tru5t¢e5' repon is ineonsistent in any material respect with the financial statements,. or
su￿1C¢enT accountingj records have not been kept,. or
the financial statemenrs are not in agFrecment with the accounting records and retum$' or
we have not tsbtained all the information and explanations necessary for the PUTposes of our audit.
Responsibilities of the trustees
As explY4in¢d more fully in the trustees, Te5pollsibilities statement set out on page * the trusiees are responsible for the preparation of
the financial statements and for bein8 satisfied thai ihey give a true and tair view, and for such intemal conrrol as they determine is
nece55ary to enable the prepardtion of financial sthiements that are free from ma¢erial misstatement, wh¢ther due io fraud or error.
In preparing the financial sta¢emenis, the trustees are responsible for assessin8 the C.h3rity's ability to continue as a goingF con¢¢rn.
disclosing, as applicable. matters related io going Concern and using ihe goin8 conc¢m basis of accounting unless the trustees either
intend to liquidate the c.harity or to cease operation& or have no realistic altemaiive but to do $0.
Auditor's responsibilities for the audit of the fin8neiAI st*tem¢nts
We have been appointed as audiior under section 144 of the Charities Act 2011 and report in a￿0rdance with lh¢ ACL and relevant
regulations made or having effect thereunder.
OUT objectives are tts obwin reasonable assurance about whether the financial statements as a whole are free from material
mis5tatemeni. whether dve io fraud or error. and to issue an auditor's report that includes OUT opinion. Reawnable assurance is a high
level ofassurance, but is not a guaraniee that an audit conductrd in accoTdance with ISAS (UK) will always detect a material
TlliSStatement when it exists.
Misstatements can aTise from fraud or error and are considered m2teTial if, indifvidijally or in the aggrega¢e. they could reasonably be
expected to innuence the e¢onomic decisions of useT% thken on the basis of thc5e financial statements.
Irregjularities. includsng fraud, are insLqllces of rtom-compliance with laws ard regulations. We design procedures in line with our
responsibilities, outlined above. to detect material misstatements in respeci of i￿¢￿￿larItIe5. Lncluding fraud. The extent to which our
procedures 8re capable of detecting irregularitie8 including fraud is detailed below..
Exp19n8tion as to what extertt the 8udit was considered capable of detecting irftgularitie5. including fraud.
The objectives of our audit in respect of fraud. are to id¢n¢ify and assess the risks of material mi5Statrmenl of the finan¢ial statements
due to fraud,. to obtsin sutTicienL appropriate audit evidence regarding the assessed risks of material rn15Sta￿men1 due to fraud,
Ihrough designing and implementingT appropriate resw)n&es to those assessed risks.. and to respond appropriately to insiances of fraud
or 5USP¢Cted fraud id¢ntified durin¥ the audii. However. the PTitnary responsibility for the prevention and detection of fraud rests with
boih managemeni and those charged wilh gtsvernance ot'th¢ company.
Our approach wa5 as follows..
W¢ obtained an understanding of the legal and regulatory requirements applicable to the c.harity and considered that the most
significant are the Charities A¢t 2011. UK financial reporting standards as issu¢d by the Financial Rq)tsrting Council and UK taxation
legislation.

THE NUFFIELD ORTHOPAEDIC. CENTRL
IAKI TY
INDEPENDENT AUDITOR
' REPORT TO THE TRUSTEES OF
THE NUFFIILD ORTHOPAEDIC CENTRE CHARITY
Continued
We obtained an understanding of how the Charity complies wilh these requirem¢nts by making enquirie5 with management and
those charged with governance. W¢ corroborated our cn9UiTies through our revi¢w of the frustees, meetlTi8 minutes.
• We assessed the susceptibility of the financial sta*ments to material mi5Statement. including how fraLad might ￿¢ur by considerin
thc key risks impactirt¥¥ the finatlcial staiemtnt5 and documenting the ¢ontrols that the c.harity has esthblished to address risks
identified. or that otherwise seek io Prevellt, deter or detect fraud. In our asses5meni we coll5ider¢d the risk of management override.
Our audit procedures included iesiing manual journals including segregati()n of duties.
• We inquired of management and those charged with gov¢mance as to any known in5tan¢¢s of noncompliance or Suspec￿ non-
eomplianc£ with laws and regulations.
Based on thig understanding. we designed specifie appropriate audit procedures to identify insiances of non-compliance with laws
and regulations. This included making enquiTi¢S of management and those Charged with gjovemance and obtaining additional
corroborativ¢ evidence as r¢9uired
A further description of our responsibilities for the audit of the financial statements is locaied on the Financial Reporting Council,
website at.. www.frc.org.uklauditorsreÈponsibilitie5. 1.his description forms part of auditor's rewrt.
Edwin Smith is eligible foT appointment as audiior ot-the Charity by virtue of its eligibility for appointment as auditor of a company
under section 1212 of the Companie5 Act 2006
Use of our report
This report js made solely to the Charity'5 trustees. as a body, in a¢cordance with section 144 of the Chari¢ies Act 2011 and the
regulations made under section 154 of that Act. Our audit work has been undertaken $0 thai we mibFhi state to the Charity's trustees
those matters we are required to state to them in an auditur's report and for no other purpose. To the fullest extent permitted by law.
we do not ac¢epi or assume respon5ibilily to anyone other than the Charity's trust¢¢s as a ix)dy. for our Audit work. for this report. or
for th¢ opinions we have formed.
Edwin Smith
Chartered Accountaiits
Statutory Auditor
32 Queens Road
Reading
RGI 4AU
Dated...
z*

THENUFFIELD ORTHOPAEDIC CENTRE CHARITY_
STATEMENT OF FINANCIAL A
TIVITIES for the
ear ended 5 APRIL 2023
Unrestricied
Fund
Restricted
Fund
2023
Total
2022
Total
Note5
Income fr
Donations and Le8acies
Inv¢siments
622.956
2.439
622.956
2,441
350.468
Total Income
625,395
625.397
350,583
endit
re on..
Raising Funds
Costs of G¢nerdting Voluntary Income 3a
Charitable Activities
3b
Other
2,995
2,896.096
16,456
253.079
17,-398
253,079
17,398
To￿[ Expenditure
270.477
270,477
2.915.547
Nei Movem¢nt in Funds
354.918
354.920
12.564,964)
Total fund5 brou
ht forward
350
339.054
339,404
2,904.368
To
l fijnds
rried forward
352
693.972
694.324
339.404
The Notes on Page5 1 I to 15 form part of these Accounts.

THE NUFFIELD ORTHOPAEDIC C[Nu￿E CHARI
BALANC.E SHEET asat 5 ' APRI
23.
Unrestricted
Fund
Restricted
Fund
2023
Total
2022
Total
Notes
ix
Tansyible Assets
26,938
26,938
25.837
Current Assets
Debtors
Cash at Bank
Total Cuneni Ass￿5
236,942
482.430
236,942
482,782
1,985
369.279
352
352
1 19.372
719,724
371.264
Liabili11¢S
Cr¢diiors falling du¢ within one year 5
{.$2.3381
(52.338)
157.697)
N t Curmit A
352
667.034
667,386
313.567
To¢al Net Assets
352
693,972
694,324
339,404
Funds of the Chari
352
693.972
694.324
339.41M
Approved by the Board of Trustees on
3rJ DeuLmber a02*
. and signed on IÈS behalf by..
MR. C. JOHNSTONE- TRUSTEE
The N￿e5 on Pages I I to 15 fomi part of th¢se Accounts.

E NUFFIELD ORTHOPAEDIC CENTRF. CFIARITY_
elo
ST ATEMENT OF CASH FLOWS as at 5 A
23
2023
2022
Cash flows fro
erati
ctivities..
Net cash provided by opuating activities
111,062
£ (2,565.481)
Cash flows from investin
Interest froTn investments
activitie
2,441
Nei cash
vided b investin,
Llvjties
2.441
Change in cash and cash equivalen15 in the year
Cash and equivalents at the beginniiig of the vear
113.503
369.279
(2,565.3661
2.934,645
48?.782
369,279
Reconciliatio
of net incomel
ex
enditure
to cash
owfromo
rotin
activi
jes
2023
2022
Net incomelex
Adjustments for..
Depreciation charges
InteTest from investments
(In¢reas¢lldecT¢35e in debtors
Incre8sellde¢reasel in creditots
nditure for the
ear
354.920
{2.564,9641
1.197
(2,4411
{234,957}
(5.7591
75.932
177.531)
Nei cash
rovided from
ratin
aciivitits
111,062
£ (9 565.481)
An
sis of cash and e
uivalents
2023
2022
Cash in hand
482.782
369.279
To
482,782
369,279

THE NUFFIELD
RTHOPAE
CHAR5TY
NOTES TO THE ACCOUNTS for the
ear end
5th APRIL 2023
l. Ac¢ountin
Poli¢ie5
Basis of Pre
aration
These Accounts combin¢ all accounts of all fvnd5 governed by the Constitution Deed dated 7, October l 1)91, using
the principal name of the Charity. or the name Nuifield OrthotLC5 Appeal. The Nuffield Orthopaedic Charity IS
registered charity re8l5tered in England and Wales. The principal offi¢e address is Nuffield Orthopaedic Centre,
Headington, Oxford, OX3 7HE
2. The fillaneial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statemenl
of Re¢ommended Practice applicable to charities prepaTing their ac¢ounis in accordance wilh the Finar5cia
Reportingl Stsjidard applicable in the UK and Republic of Ireland {FRS 1021 (effective l Jalluary 20191- (C.harities
SORP FRSI 02}. and the Charities Aci 2011 and appli¢abl¢ regulations. The oceounts have been PTepard llndeT the
his(OTical cost convention with iiems recognised ai cost or fransaction value unless otherwise stated in the rel¢vant
notes to thes¢ accoullts.
The accounts are prepared sn sterlin8 which is the functional currency of the charity. Mon¢tary amount$ in these
a¢counts are rounded to ihe nearest £.
4. The ¢harity ¢onstitutes a public benefji entity as defined by FRS 102.
5. The charity has a reasonable exp￿(411￿n Ihat there are adequate resource5 to contitlue in operational existence foT
the foT¢seeable future. li has therefore continued to adopt the going concem basis in preparing its financial
statements.
b. Fund Accountin
The Charity's general fund ¢onsists of funds. which the Charity may use for its purpose. at its discretion. under the tenns of
the object5 ¢lau5e of the C.onstiiuiion.
The Charity's restricted fund is for the Nuffleld Orthopaedi¢ Centre and the Bothar Research C¢ntre. under the tem)s of the
objects clause of the c.onstitution.
IrJ¢ome reco
iiion
All income is recognised when there is entitlement. sufficient ¢¢rtainty ihai receipt of in¢ome is probable and the amount of
income receivable can be measured reliably.
Gifts. donY4tions and lega¢ies art taken on a ¢ash received basis.
Bank interest is included u5)on notificaiion of.Ih¢ intuest paid or payable by the bank. Bank interest r￿e1Ved after dai< ha5
been a¢cruLxi for th¢ amount earn￿ by the Balance Sheet dale.
d. Ex
endiiure rec
Liabilities are recogni5ed as expenditure as soon as there is a legal OT Constructive obligation committing the charity to that
¢xpenditure, it 15 probable that settlement will be required and the amount of the obligation can be measured reliably. All
expenditure is accounted for on an accruals basis.

THENUFFIELDORTHOPAEDIC CHARITY
Pa
¢12
NOTES TO THE ACCOUNTS for the
ear ended 5 APRIL 2023
Co
tsnued
l. Accounting Policies Iconiinued)
Pension scheme
The Charity participates in a defined contribution plan for its employees.
f. Govemance Costs
This comprises all rgs¢s incurred in running the c.harity. which cannot be diwily allocated to the Charity's projects, or to
fund rai5in8. Cost5 are not aprK)rtl0n￿ between a¢¢ivities but expended getL¢rally. In addiiion see note 3 Ic}.
8. Costs of Generatin
Volunia
Income
This comprises costs incurred in inducing people, or or8anisaiions to ¢ontribute financially to the Charity'5 WOt*.
h. Granis Pa
able
Grants payable are a¢counted for when the Charity is cotnmitted to payirtg them, with further d¢iail$ given in noi¢s Ilm}.
3{bl and 6 to the Accounts.
Realised and Unrealised Gains and Losses
All realised gains and losses are recognis¢d iti the A¢¢ounts. Pernianent diminution in the value of fjxed agsers is chaoed to
the Statement of Financial Activities.
ilalisalion & De
rcciati
l angibl¢ Assets us¢d by the Charity have b¢en capiiali5ed on the basis of their historical cost or, where Teceived as a 8ift.
their aseertained market value at that time. Dep￿ti&ll0n is provided on Tangible Assets. wh¢re applicabl¢. The depr¢ciation
rdies currenrly in use for Tangible Assets held for use by the Charity are as follows..
Noi Depr¢ciated
20/0 of cost per annum
200/4) reducin8 balance basis
Garage
Land
- Garage
Office Equipment
Debto
Debtors are rtcognised at th¢ settlemeni amount.
Cast at bank
Cash at bank includes cash held at bank Current attounts and short temi hL8hly liquid investments held on deposit awounts.
.reditors
Tovisions
C.reditor5 and provisions are recognised wher¢ the charity ha5 a present obligation resulting from a past event that will
probably result in the transfer of fund5 to a third party and the amount due to settle th¢ obligation can be m¢a$ured or
¢&limated r¢liably. C.T¢diLors and provi5ion5 are slated at their Settlement amount.
Comm5tments
Legally binding and nort-legally binding commiiments aTe shown in the note5 to the Accounts after approval by th¢ Tnjstees.
Where financial support is promised but not contraeied, the amount is showTh in the Accounis when paid.
Transfer5 of Funds
Transfers of income between various funds 15 Considered arceptable should circumstances allow.

THE NUFFIELD ORTHOPAEDIC CHARITY
e13
NOTE
TOTHEA
OUNTS for
ear ended 5th APRIL 2023
Continued
2. Tan
ibl Assets for use b the Chari
Freehold
Garage
Office
Equipment
Total
Gross Book Value
At 6￿) April. 2022
Additions at Cost
45,937
32,928
13,009
At S April, 2023
45.937
32.928
13,009
reciation
At 6 April. 2022
Charge for the year
2U.I(X)
9.243
10,857
430
At 5th April. 2023
18,999
7,712
11.287
Net Book Values
As at 5 April, ?023
As at S April, 2022
26.938
25.837
25.216
23.685
1,722
2.152
3. Ex
nditu
Unrestricted
Funds
Restricted
Funds
2023
Tolal
2022
Total
a) Costs of Generatin
Volunta
Income
Promotions & Publicity
2.995
b) C.hariiablc A¢tivitics
The Nuffield Orthopaedic and Botnar Research Centres
Sundry Gran¢$
ort Costs
Staff Costs- net of furlough gTant received
Social Security Costs
Staff pension
Golf
Office Expense5
Bank & Credit Card Charges
Insurance
Prof¢55ional Fees
Depreciation
Sundries
IS0.000
3,500
150,000
3,5¢X>
2.772.089
21,449
80,951
4.956
179
80.951
4,956
179
85.518
6,638
664
(200)
5.154
985
2,388
2,764
347
2,147
9.336
2,764
347
2.147
9,336
1.197
102
253,079
253.079
2.896.(196
c) Other- Governance Costs
Audit Fee
Accountancy Services
6,714
10.684
6,714
10,684
5.850
10.606
17.398
17,398
16.456
4. Debtors
Gift Aid Recoverie5
Accrued Bank Interest
Other Debtors
Leg4¢y Property Sale
2023
20
81
1,441
£ 235,420
1,982
£ 236,942
£ 1,985

THE NUFFIELDORTHOPAEDI
CHARITY
e14
NOTES T
THE AC
OUNTS for the
ear end￿ 5th APRIL 2023
Continued
2023
2022
5. Cr¢dilor5.' Amounts Fallin
Dlle within one
Social Security & Other Taxes
Accruals
O¢her Creditors
Grants
¢ar
1.827
21.114
13
29,384
1.103
24,076
38
32,480
£ 52,338
£ 57,697
6. Accrued GrantlGifi Commitmellts
Ill a¢cordance with policy note l{h} and I Inl, contracted grant￿giftS are actollnied for at ihe incq)tion of the grant. Known gift&
not commiti¢d. to be paid in the future. are shown in the Accounts as and when paid.
There are commitments made by the Trustee5 10 provide the following grants in the future:
Cornmitments
at 05104122
Provided
Paid
in the y¢ar
Carried
Forward
Other various Smaller grants- all due within one year
32.480
4,592
(7,688)
29,384
Botnar Research Centre {Botnar 31
150.000
£ (150,0001
Due wi¢hin one year
7. Anal
sis of N t Assets
tween Fu
Net Current
Asset51
Tangible
Assets Investments
2023
Tothl
2022
Total
Restricted Fund (A)
Unrestricied Fund5
26,938
667.034
352
693.972
352
339.054
350
26,938
667,386
694.324
339,404
Fund MoverTJents- Kestri¢ted Fund (A}
Fujid Balances
Incomin8
Brought forward Resources
Outgjoin
R¢soLTrrces
Fund Balances
Carried Forward
Nulyield Ofthopaedic Centre Appeal
General Fund
Goodfellow Knee Research Fellowship
259.054
80.000
625,395
270.477
613,972
80.000
339,054
625.395
270.477
693,972

THE NUFFIELD ORTHOPAEDIC CH
RITY
e15
NOTES TO THE ACCOUNTS for the
ear ended 5 APRIL 2023
Continued
2023
2022
Average number of employees..
Clerical Full Time
Part Time
One employee's earnings were abov¢ £60,000 per annum shown b¢low.
Mrs. J. Frartklin. a Trustee, is also an employee of the C.hariry. Her gTOSS salary cost paid under a ¢ontract of employment. was
£77,500, and expenses of £0 were owing to her at 5 April 2023. No other Trustee received remuneration or benefits. or was
reirnbursed expenses during the year ¢0 5 April 2023.
The salary arrangem¢ni has been approved by th¢ Charity Commissioners.
Related P
les
The Charity has a c105e relationship with Nuffield Orthtspa¢dics Ltd whi¢h caffies oui the buildin¥ of the BotnaT R¢seaTch Cenire
buildin¥s.
The Six directors of Nuffield Orthopaedics Ltd who ar¢ also trustees of the Charity are as follows:_
C.. Johnstone (Chaim)anl
E. D. J. Thomas
Mrs. J. Franklin
Professor A.J. Carr
C.R. Dick
P. S. c.andy
The Charity made a grant to Nuffjeld Orthopaedics Lid durin8 the y¢ar of £150.000 for the BotnaT R¢search Centre buildings
1902? £2.772.0891.
Mrs. J. Franklin remain5 the Chairman of the Marcella TrusL who in turn have made si8nificant donations towards ihe cost of
construction of the Boinar research building.
Professor A. J. c.arr is also a Trustee of The Nomian Colli5$0n Foundation who have tnade a signifi¢ant donation ¢owards the cost
of construction of the Botnar research building.
l O. The Trustees Consider the Charity will be a going concem for the next twelve month5.

THE NUFFIELD ORTHOPAEDIC CENTRE CHARITY
NOTES TO THE ACCOUNTS for the
ear ended 5th APRIL 2023
Continued
I l. Detailed Income and Ex
enditure Account for the
ear ended 51h A ril 2023.
Unrestricied Fund
A- Nuffield Orthotics Association
Income
Bank Interest
2023
2022
enditure
lus Incotnel
D¢fJrit
for the
ear
Restyi¢ied Fund
B- Research Institute Fund
Transfer from Gen. Account
Bank Interest
48
Sur
lus Incomel
Deficit
for the
ear
48
C-oxs
Transfer from Gen. Account
Interest
33
lus In¢omel
Deficit
for the
ear
33
Transfer froTll Gen. A¢counr
Donations
Interest
90
lus Incom¢1
Defjcit
for the
ear
THIS PAGE DOES NOT FORM PART OF THE STATUTORY ACCOUNTS

THE NUFFIELD ORTHOPAEDI
ENTRE CHARIITr'
e17
NOTES TO THE AC
UNTS for the ear en
ed 5th APRIL 2023
Continued
I l. Detailed
me and Ex
enditure Account for the
ear ended 5 A
ril 2023
Continued
2023
2022
E-Nuffie
rtho
aedic Centre A
eal
In¢ome
Granls & Donations
Legacies & Bequests
Bank Interest- Received
Garage Rent
161,816
460,420
2,268
720
252.740
97,008
720
625,224
350,579
enditure
Gr3nis
Salary costs
c.haritable Activities- Golf
OITice Expenses
Adveftising
Insurance
Bank & Cr¢dit Card Charges
Accountancy Services
Audit Fee
Professional Fe¢s
Depreciation
Sundric5
153.500
86.086
2.793,538
92.820
(200)
5.154
2.995
2.388
985
10,606
5.850
2,764
2.147
347
10,684
6,714
9,336
1.197
102
270.477
2,915,547
lus Incomel
Deficit
for the ear
354.747
£ (2,564.968)
her Desi
nated Rtstricted Grant5 (paid in year)
Research C.entre- Phase 4
Dolphin Mobility Pool
League of Friends- Donation to IT Equipment
150.OIX)
2,772.089
21.449
3.500
153.51K)
2,793,538
THIS PAGE DOES NOT FORM PAR'F OF THE STATUTORY ACCOUNTS

THE NUFFIELD ORTHOPAEDI
ENTRE CHARITY
e 18
NOTES TO THE ACCOUNT
for che
ear ended
APRIL 2023
Continu
G-Desi
nated unresirlc￿d Grants {not >'ei paid)
2023
2022
Limb Reconstruction Unit
Sports Injury Service
Res¢arch Institute
Oxsarc
Oxpar¢
Children's Ward {Rehab)
Maz
Bone Infection Unit
Foot & Ankle Yund
12.012
5.000
3.462
3.744
1.680
1.050
1,091
1,000
345
10.810
5,000
3.462
5,271
1.680
1.<>21
3,491
1.000
145
29.384
32.480
THIS PAGE DOES NOT FORM PART OF THE STATUTORY ACCOUNTS