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2022-06-30-accounts

Company number: 2724405 Charity Number: 1013084

The Institute for Optimum Nutrition

Report and financial statements For the year ended 30 June 2022

The Institute for Optimum Nutrition

Contents

For the year ended 30 June 2022

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent auditor’s report ....................................................................................................... 17 Statement of financial activities (incorporating an income and expenditure account) ................... 21 Balance sheet ............................................................................................................................... 22 Statement of cash flows ................................................................................................................ 23 Notes to the financial statements ................................................................................................. 24

The Institute for Optimum Nutrition

Reference and administrative information

For the year ended 30 June 2022

Company number 2724405 – incorporated in the United Kingdom 2724405 – incorporated in the United Kingdom
Charity number 1013084 – registered in England and Wales
Registered office Ambassador House
and operational Paradise Road
address Richmond
TW9 1SQ
Trustees Trustees, who are also directors under company law, who served
during the year and up to the date of this report were as follows:
Miss J Bridger
Mrs R Hampson Chair (appointed Chair January 2022)
Ms S Hillman
Ms J Lynch Chair (resigned January 2022)
Mrs D S Mills
Ms L Ranganathan
Mrs A Wyles Treasurer
Key management personnelChris Mansi Chief Executive
Heather Rosa Dean
Rowena Wells Finance Manager
Bankers CAF Bank Ltd
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ
Solicitors Russell-Cooke
2 Putney Hill
London
SW15 6AB
Auditor Sayer Vincent LLP
Chartered Accountants and Statutory Auditor
Invicta House
108-114 Golden Lane
London
EC1Y 0TL

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

The Trustees present their report and the audited financial statements for the year ended 30 June 2022.

Reference and administrative information set out on page 1 form part of this report. The financial statements comply with current statutory requirements, the Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The charitable objects as set out in the Articles of Association are;

“To advance education of the public and health professionals in all matters relating to nutrition”. And

“The preservation and protection of health of the general public by giving advice, assistance and where necessary treatment through nutrition”.

The Institute’s principal aim is to further the knowledge and practice of optimum nutrition. The primary means by which it seeks to meet its objective is through the training of Nutritional Therapists in the principles of optimum nutrition, as complementary to orthodox medicine, as a part of integrated functional medicine training. Trained Nutritional Therapists, through their practice, promote the principles of optimum nutrition both within the medical profession and the public at large, focusing on prevention of disorders through healthy eating and reducing reliance on remedial medicine, in accordance with the guidance set out by the Complementary and Natural Health Council (CNHC regulator), the accrediting body Nutritional Therapy and Education Commission (NTEC) and the professional body the British Association for Nutrition and Lifestyle Medicine (BANT).

During the year, the Institute was accredited by the British Accreditation Council for all its courses. The University of Portsmouth validates the BSc (Hons) Nutritional Therapy and Graduate Diploma Integrative Functional Nutrition.

Our other activities, such as continuing professional development (CPD), the Optimum Nutrition Clinic, Brain Bio Centre, and Optimum Nutrition magazine and podcast support our programme to increase awareness and provide evidence-informed information to the public on the benefits of nutrition to health and wellbeing. The Institute’s short courses are CPD credited through BANT (the professional body).

Public Benefit

The Trustees review the aims, objectives, and activities of the charity at Board meetings and annually when reviewing the strategic plan. The business plan for 2018 - 2023 was reviewed during the year. The plan confirms the work of the charity is to educate people on the benefits of nutrition to wellbeing. The impact of Covid-19 and climate of increasing incidence of obesity, diabetes and other

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

chronic conditions is putting significant pressure on the health economy. Through increasing the number of Nutritional Therapy Practitioners, courses, clinics, media communications (e.g. newsletter and Optimum Nutrition magazine), and forms of information accessible to the general public (Food as Fuel and Food for Thought online series, podcasts and blogs), we are working to improve the health outcomes of the general population through dietary changes in line with evidence-based research, providing a public benefit that is in accordance with ION’s charitable aims and objectives. This report also looks at what the charity has achieved and the outcomes of its work within the last twelve months.

The priorities for the financial year 2021/22 were agreed:

The business plan sets out the vision and mission for ION. The ION vision statement is: Optimum nutrition throughout life .

The ION mission statement is: To educate and enthuse, instilling optimum nutrition as the foundation of health for all.

The Institute’s core values are:

To nourish, empower and transform through our education and practice, and to be inclusive and responsible in our approach.

We nourish people, through engaging with learning, empowering confident decision making that can transform self and others.

We are inclusive, highlighting and celebrating diversity in all aspects of our work.

We are responsible through our commitment to quality standards in our message, evidenceinformed education, employment practices and corporate citizenship.

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

The business plan 2018-2023 sets out our Key Outcomes, which are to:

Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and performance in the delivery of public benefit

This year saw the commencement of the second year of the BSc (Hons) Nutritional Therapy and final year of the top up BSc (Hons) Nutritional Therapy. The roll out of the degree has seen the number of academic staff increase as more modules are delivered. The final year students of the top up degree course completed this year, becoming the first ION students to graduate with a BSc (Hons) Nutritional Therapy. These students will graduate in the coming year alongside ION’s first students to complete the Graduate Diploma Integrative Functional Nutrition. Both qualifications are awarded through the University of Portsmouth.

The Graduate Diploma modules and the initial module of the degree and behaviour change modules have been validated as credit bearing short courses. This will enable people to take these modules as independent courses, which can be credited towards the Graduate Diploma award or towards the degree. These short courses provide flexibility for people to fit their studies and CPD into busy lives.

We have also worked with partners to develop courses to support health care professionals in developing their nutritional skills base, to meet our key outcome to engage people in learning about integrative functional nutrition and lifestyle, enabling them to share this knowledge with others.

Whilst we have seen the country opening up after the Covid 19 pandemic, the appetite for in-person events remained low during this period. Learning has remained online for all courses. During the year, we further enhanced the online learning platforms to provide students with more interactive sessions, ensuring the continued high-quality learning experience. The positive feedback received from the student body reflected the hard work of the academic and administrative teams.

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

Trustees are grateful to Social Investment Bank for Resilience and Recovery Funds loan and grant. These funds have been used to:

We were disappointed in 2020 not to have been able to hold a graduation ceremony for our students completing their Nutritional Therapy Diploma. However, we were delighted to have been able to celebrate with our graduates in October 2021 at Clothworkers Hall in central London. Graduates from our 2020 and 2021 cohorts came together to celebrate their achievement.

Our CPD course provision is an important aspect of our work to ensure that practising clinicians are able to keep their knowledge current and in line with new research and practice guidelines. The courses are now delivered live online, with customers being able to access recordings after the event. Numbers to the live events are limited to enable participants to interact with the presenter throughout the day. Post live CPD events, the recordings are available for purchase.

Connecting with the general public, providing clear and evidence-based information is another key aspect of ION’s work. Optimum Nutrition magazine was distributed to Sainsbury’s and Tesco for free pick-up by their customers over the year. This has proved to be very popular with an overall pick-up rate of 98%. We continued to support NHS staff by providing magazines to Project Wingman, which had introduced lounges into hospitals to give staff respite from Covid wards. We supplied 8,000 copies to Project Wingman, giving NHS staff access to current information on nutrition and lifestyle topics. We will continue to support this initiative and our colleagues across the NHS. As well as freely distributing the magazine, the Project Wingman team asked us to share content from Optimum Nutrition for its own magazine. Over 44,000 magazines have been distributed during the year.

The Optimum Nutrition Podcast continued to showcase interviews with guests from the world of nutrition. Podcast episodes explored guests’ health journeys and touched on some common health conditions, with the aim of inspiring listeners on their health and wellbeing journey. The first series of seven podcasts had over 2,000 downloads.

ION’s clinics have provided guidance to our clients about how food can support their health and wellbeing journey. Our clinicians provide personalised nutritional recommendations helping clients to re-engage positively with food, which is a corner stone to health and wellbeing.

The Brain Bio Centre at the Institute for Optimum Nutrition has continued to support people who are seeking support to improve or maintain mental wellbeing. As we move into different phases of the pandemic, mental health concerns continue to increase.

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

The clinics have continued to be delivered online throughout the year. This has proved popular with clients because it means they do not have to travel and have greater flexibility in fitting in appointments. A total of 1,128 appointments were conducted through the training clinic, Optimum Nutrition Clinic and Brain Bio Centre clinic. Additionally, 118 free discovery calls were provided during the year. Total number of appointments were 1,268 (including triage, initial and follow-up appointments).

Highlights of the year include:

All our charitable activities focus on supporting our charitable aims and objective: optimum nutrition throughout life; to educate and enthuse, instilling optimum nutrition as the foundation of health for all, and they are undertaken to further the Institute for Optimum Nutrition’s charitable purposes for the public benefit.

The beneficiaries are primarily individuals wishing to train as practitioners in nutritional therapy or to maintain their professional knowledge through continuing professional development as well as those that wish to add integrative functional nutrition to their existing health care practice (i.e. medics, GPs, osteopaths, pharmacists). Additionally, our beneficiaries include people with health issues who wish to access the Optimum Nutrition Clinic, those who have an interest in all matters relating to health and wellbeing, and who read and share ION’s magazine Optimum Nutrition to gain further insights for their own wellbeing.

The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

Key Priorities

To secure student numbers for the future as the pandemic continues to impact on people’s economic and social lives

It has continued to be a difficult year for students as the number of Covid variants have continued to impact on study, work and home life. To support students in their studies we have developed a comprehensive package of academic and clinical support tools. The academic team has been proactive in supporting the development of peer support groups, so that students can feel connected with their colleagues and develop a support network around their studies. The Student Voice Committee has shown that students have felt supported during the year.

A review of modules and assessments was undertaken to maximise the learning outcomes and experience of students.

We have increased our marketing resources and promotional activity to raise awareness and attract more interest for all our courses. We have also worked with our university partner to validate short courses that allow people to undertake individual modules of the Graduate Diploma Integrative Functional Nutrition course and some of the BSc (Hons) Nutritional Therapy course. Students doing individual modules can accumulate credits towards these awards.

We have begun the process to develop a range of awards and work with the University of Portsmouth to develop current modules to enhance the student experience.

As our first graduates of the BSc (Hons) Nutritional Therapy completed during the year, their research projects were presented as posters and put forward for publication. These projects showcased the work and research undertaken by our students and how this can inform the practice of nutritional therapy and contribute to the functional nutrition community.

To improve funding options for students

As members of Independent Higher Education, we are working to develop our capacity to register with the Office for Students. Registering with the Office for Students would provide our students, who have not already achieved an undergraduate degree, access to student finance. The process is considerable and the timeline for achieving this is in the 2023–2028 strategic plan.

We continue to offer interest-free instalment plans to all our students, enabling them to spread the cost of the course whilst studying, and completing the course debt free.

To continue to provide quality training programmes

To evaluate the quality of our training programmes, students are asked to complete surveys at the end of each module and at the end of the academic year. There is an active Student Voice committee which is attended by the academic team, our University of Portsmouth partner

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

representative, students and academic administration staff. The meetings are constructive and informative. Through these forums and feedback tools, the student body highlighted their appreciation for the live interactive sessions, the interesting lectures and content, the quality of guest speakers, our online virtual campus, and the enthusiasm and supportiveness of the academic and academic administration teams. An audit of the clinic processes and procedures led to an improvement in the communication procedures with other healthcare professionals.

The team is proud to have maintained the quality of course provision during such a challenging period.

As part of our commitment to provide quality training programmes, work was undertaken during the year to validate modules as credit bearing short courses. The credit bearing short courses provide options for students to complete modules and accumulate credits towards the Graduate Diploma in Integrative Functional Nutrition.

A number of new courses are in development for delivery in the coming academic year.

To develop an onboarding and training programme for new and existing staff, to support the new structure, retention and expansion of the team

During the year, a new onboarding and training programme was developed to support academic, clinic and corporate services staff, and the management team. Further development of these programmes will continue each year as we grow and develop new courses and structures, and to support the team in general.

The academic team training programme has been enhanced through our membership of Advanced HE, providing access to a range of training materials to support lecturers’ personal development.

To expand our digital presence, to extend our reach for the dissemination of information on nutrition and lifestyle practices

Providing the public with the information to help them change their approach to nutrition and lifestyle will help to reduce the burden on the NHS and support Public Health England’s priorities. In 2021, Jo Churchill MP, Parliamentary Under Secretary of State for Prevention, Public Health and Primary Care, stated:

“Preventing the onset of avoidable physical and mental illness and improving health by tackling important public health issues, such as obesity and smoking, is a priority for the government. The new Office for Health Promotion (OHP) will lead national efforts to improve and level up the public’s health.” (Extract from letter sent by Jo Churchill MP 13[th] July 2021 to Michael Brodie, PHE)

ION’s activities reach and inform members of the public through different channels. During this year, we created a new series Food for Thought, which is available free of charge. Food for Thought is a bite-sized video series of five episodes, providing evidence-based information on how to support mental wellbeing through food and lifestyle. During these challenging times with rising incidence of anxiety and mental

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

health issues, the series provides clear messages on approaches people can take to support their mental wellbeing.

Our original bite-size series Food as Fuel continues to be available free online. This series was designed as the first step in helping people to take control of their health through understanding the impact of good nutrition, and to make decisions about foods that are right for them.

Alongside these two series we continued to produce The Optimum Nutrition Podcast, which has a range of lively conversations with key people across the nutritional therapy and functional nutrition sectors, as well as with leading scientists and medical practitioners. Episodes include subjects such as The Importance of Nutrition and Diet in ADHD, An Integrative Approach to Chronic Fatigue Syndrome and ME, and Supporting A Happy Menopause .

Our monthly newsletter is distributed to our database and Optimum Nutrition magazine continues to be available free online. Printed copies of Optimum Nutrition are distributed to pick-up points where they are available to members of the public and to NHS staff. Through access created by our PR consultant, we have also contributed to articles on health and nutrition in the local and national press.

Members of the ION team have also delivered webinars and written articles explaining the philosophy of nutritional therapy and integrative functional nutrition, and how this approach can help people to take control of their health and wellbeing.

Plans for the future

The priorities for the financial year 2022/23 were agreed:

The Institute has used reserves during the year to fund the expansion of the degree programme and to invest in new course developments. It is expected that the return on investment will be seen in the next couple of years and beyond. The pandemic provided a number of challenges which continue into the coming financial year. In spite of these challenges, we have seen positive change and some exciting new developments. The Trustees would like to extend their thanks to the management team for their leadership and to all staff for their hard work, dedication and commitment to ION and its charitable aims and objectives, during what has been an exceptional year.

Financial review

Overall student numbers were lower than the previous financial year (28 fewer) a reduction of 6%. The nutritional therapy diploma course stopped accepting new students in 2020, as the

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

professional body BANT (British Association for Nutritional and Lifestyle Medicine) raised the threshold for entry to the profession to degree level.

As students progressed to years two and five, the number of students on the degree programme increased by 71%. The recruitment of students to the first year of the degree increased by 29%.

The first cohort of our innovative Graduate Diploma in Integrative Functional Nutrition completed their studies in February 2022. They are now equipped to work with their patients/clients, providing a functional nutrition approach to their practice to improve their patient/client outcomes.

As students have completed the degree top up, research posters have been presented to conferences and will be submitted for publication in the coming academic year.

The year saw the roll out of the second year of the degree. Staff worked to develop the modules for year two and to begin the development of the year three modules to commence in the coming financial year. The staff team has expanded to support the delivery and development of new modules. Trustees approved a deficit budget for the year due to the anticipated increase in development and delivery costs, which is expected to be recovered over the next five-year plan.

There is no doubt that the pandemic, the war in Ukraine, the significant increase in the cost of living and inflation has impacted people’s appetite to undertake training and development activities. The deficit for the financial year has resulted in the use of reserves to support the continued roll out of the new courses. Reserves were reduced by £243K, ending the year with reserves of £475K of which £14K are restricted. These reserves will assist the Institute to manage the difficult financial times we are currently in and likely to be experiencing for the coming year.

The Board of Trustees continues to maintain reserves to support the organisation’s strategy and to enable ION to invest in course and staff development and new technology.

Reserves Policy

The Trustees regularly monitor the charity's reserves to ensure that an adequate level is maintained to meet its stated objectives for the development of educational courses, and the furtherance of knowledge and acceptance of the principles of optimum nutrition.

Reserves are needed to cover any potential shortfall in income, allowing time for Trustees to make appropriate cost adjustments, and to develop and maintain the Institute's educational programmes. The Trustees consider the minimum desirable level of reserves to be around £750K. This is sufficient to cover over three months of expenditure, allowing Trustees time to manage any unforeseen income shortfall or change in circumstances.

The Trustees have set the minimum desirable level of reserves of £750K as a medium-term target

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

in the Business plan and aim to maintain it through careful control of costs and an increase in funded charitable activity.

Reserves at 30 June 2022 were £475,165 of which £14,000 is restricted for research purposes and £9,757 designated for fixed assets, leaving free reserves of £451,408. At this point we are using reserves to develop and deliver new awards going forward in order to continue to meet the professional body requirements.

The Institute surveyed students about online and in-person delivery for the coming year. The result was that, overall, students were happy with the online provision. There was some interest for inperson opportunities. As a result of the survey, the decision was made to remain principally online for the coming year and to have additional in-person enhancement days.

We have reviewed the budget for the coming year and see the potential for new courses to impact positively on income. We anticipate that with these measures in place, there are no material uncertainties about the Institute’s ability to continue as a going concern.

Remuneration Policy

The HR and Remuneration Committee consider the remuneration of all staff, including Senior Management, benchmarking against market rates for academic and corporate roles at least every three years. The lowest pay point is the London Living Wage.

Annual pay awards are linked to organisation performance and decided by the Board of Trustees.

Investment policy and objectives

Under the Articles of Association, the charity has the power to invest in any way the Trustees consider appropriate.

The Trustees seek maximum return on any investments while maintaining maximum security of the funds. In the current financial climate, there are no plans to invest surpluses as the rate of return is low and does not outweigh the potential risks to funds. Trustees will continue to review investment options as cash reserves build.

Fundraising practice

The Institute is funded mainly through course fees and other charitable trading income. The Institute does not actively fundraise or use any external body to raise funds. There have been no complaints about the Institute’s fundraising practices.

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 16 June 1992 and registered as a charity on 22 July 1992.

The Articles of Association provide for Members of the Institute to be Fellows and Fellowship is granted only on invitation by the Board of Trustees. Each Fellow commits to contribute £1 in the event of the charity winding up.

The Trustees undertake a skills audit prior to the recruitment of new Trustees and this informs the content of the job description and the essential skills required for the recruitment and selection process. The post is advertised via a range of appropriate job sites and noticeboards, and prospective Trustees are interviewed and references taken up prior to being co-opted to the Board. The nomination is then confirmed to Fellows at the subsequent Annual General Meeting. The Trustees are elected by the Fellows of the Institute at the Annual General Meeting. The maximum number of Trustees is nine and the minimum three. Trustees become Fellows of the Institute upon nomination to the Board. The Chair of the Board is elected by the Board of Trustees. All Trustees give their time voluntarily. Trustees are able, where they provide specialist services to the organisation, to receive compensation for their time. Any expenses reclaimed from the charity are set out in note 5 to the accounts.

Trustees undergo relevant training. All new Trustees undertake in-house induction training covering their roles and responsibilities and an overview of the Institute’s activities and governance procedures. Trustees also attend training courses provided by the Institute on aspects or changes to charitable governance or statutory compliance as defined by their own audit. Trustees are provided with best practice reports recommended by the Charity Commission as part of their induction.

Trustees of the charity meet at least four times a year to direct its affairs. Committees review specific areas of the charity’s business and report to the Board. The structure and reporting process enables Trustees to plan and monitor the strategic direction of the charity. The Chair of Trustees and the Chief Executive are in contact before each meeting to agree a formal agenda and papers.

The day-to-day operation of the business of the charity is delegated to the Chief Executive – Chris Mansi and her Senior Management Team. There are functional managers for each of the key areas of the business.

The Board has a number of sub-committees and steering groups, chaired by the different Trustees, which assist the monitoring of the performance of the business. The committee structure was reviewed during the year. As part of the review the ICT Committee was amalgamated with the Finance and Audit Committee under the new name, Finance, Audit and Technology Committee.

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

The committees met with varying frequency during the year and oversee the activities and performance of the organisation as detailed below:

The Finance, Audit and Technology Committee (meets at least four times a year)

The Finance, Audit and Technology Committee monitors financial performance, ensuring resources are used efficiently and effectively in achieving our objectives. It agrees the budget, monitors performance against this during the year and makes recommendations to the Board. The committee ensures appropriate financial systems and processes are in place to support the activities of the organisation. It oversees the audit process, reviews audited accounts and Trustees’ report and makes recommendations on these to the Board of Trustees. The committee monitors development activity to ensure it meets our objectives and the Public Benefit requirement. It also monitors the development, implementation and revision of the ICT strategy. The committee reviews and makes recommendations on all financial and ICT policies; including the reserves policy.

The committee is chaired by Anita Wyles (Treasurer), the vice-chair is Laksh Ranganathan. The other member of the committee is Rachel Hampson. The committee is also attended by the Finance Manager and CEO.

The HR and Remuneration Committee (meets at least twice a year)

The HR and Remuneration Committee monitors the HR and Remuneration Strategy and ensures appropriate policies relating to staff recruitment, retention and development are in place.

The committee is chaired by Sue Hillman. The other member of the committee is Laksh Ranganathan. The committee is also attended by the CEO, Business Manager, Dean and Finance Manager.

The Joint Staff Consultation Committee (meets at least twice a year and reports into the HR and Remuneration Committee)

The JSCC allows staff and management to exchange views and discuss issues, and for management to share information and hear the views of all staff groups. The issues for discussion will relate to organisational performance and proposed changes that may affect staff, although this will not be a forum for negotiating pay, terms and conditions.

Views coming to the JSCC will inform management decisions. Representatives elected by each of the staff areas will take on the important roles of gathering views, representing these in the meetings and then feeding back to their staff group.

The committee is chaired by Sue Hillman. The other members of the committee are CEO, Business Manager, one staff representative from academic services, one staff representative from corporate services and one staff representative to cover all departments.

The Education Committee (meets at least twice a year) The Education Committee monitors academic strategy and ensures viability of all courses.

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

The committee is chaired by Rachel Hampson. The other members of the committee are Dian Shepperson-Mills and Jo Bridger. The committee is also attended by the CEO, Dean and Head of Undergraduate Courses.

The Marketing and Communications Committee (meets at least four times a year) The Marketing and Communications Committee ensures appropriate strategies and resources are in place to support ION’s activities. The committee met four times during the year to support the development of the strategy and oversee activities.

The committee is chaired by Jo Bridger. The other members of the committee are Rachel Hampson, Sue Hillman, and Laksh Ranganathan. The committee is also attended by the CEO, Head of Marketing and Communications, Business Manager, and other members of the staff team as appropriate to the agenda.

Risk management

The Institute’s annual review of the business includes consideration of the major risks to which the charity is exposed and the risk management strategy to contain those exposures and to mitigate significant risks. These risks are reviewed at regular intervals at Board and committee meetings. Risks identified during the year include the ongoing impact from the pandemic, the war in Ukraine and its impact on the UK and world economy, the rise in inflation and cost of living which affect the appetite of people to undertake long term training and development activities. Conversely, as people look to take more control of their lives and look for more flexible career options, there is the potential for increased interest in our courses that provide career options for the future. The risks were reviewed on a regular basis with Trustees, reviewing marketing activity and new course options to broaden our potential demographic.

Trustees have modelled worst case scenarios in terms of the impact on student numbers and costs to evaluate the risk and impact of a potential downturn in the economy should one arise. The lack of political direction across the education and health sectors continues to provide uncertainty.

ION has improved systems and processes during the year, to manage changes and to prepare for working with potential partners, to ensure students are protected against changes in the educational and professional landscape. Trustees believe a level of uncertainty will remain for the coming year as discussion on new structures and debates between the professions continue. The budget process has taken into account all these factors. Trustees will remain watchful of potential changes and continue to review our academic provision.

The Trustees are always mindful of the need to attract and retain students and have put in place strategies to ensure student numbers remain consistent going forward, including education developments and marketing and communications strategy.

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

The organisation continues to seek to diversify its income streams by exploring collaborations with third parties in order to help secure the financial future of the organisation.

The Trustees believe all the current risks are monitored and have done all that is feasible to address the uncertainty, but the unpredictable nature of Covid variants and the potential for further disruption to economic activity across the globe will continue to present challenges.

Statement of responsibilities of the Trustees

The Trustees (who are also directors of The Institute for Optimum Nutrition for the purposes of company law) are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

For each financial year, company law requires the Trustees to prepare financial statements that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom

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The Institute for Optimum Nutrition

Trustees’ annual report

For the year ended 30 June 2022

governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 30 June 2022 was 20 (2021: 20). The Trustees are directors of the charity, some Trustees are also members which entitles them to voting rights at the AGM. The Trustees have no beneficial interest in the charity.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The Trustees’ annual report has been prepared in accordance with the special provisions applicable to companies’ subject to the small companies' regime.

Approved by the Trustees on 18 October 2022 and signed on their behalf by

Rachel Hampson Chair of Trustees

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Independent auditor’s report

To the members of

The Institute for Optimum Nutrition

Opinion

We have audited the financial statements of The Institute for Optimum Nutrition (the ‘charitable company’) for the year ended 30 June 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The Institute for Optimum Nutrition's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Independent auditor’s report

To the members of

The Institute for Optimum Nutrition

Other Information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of

18

Independent auditor’s report

To the members of

The Institute for Optimum Nutrition

company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

19

Independent auditor’s report

To the members of

The Institute for Optimum Nutrition

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Noelia Serrano (Senior statutory auditor)

20 October 2022

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

20

The Institute for Optimum Nutrition

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 30 June 2022

Note
2
Expenditure on:
3a
Reconciliation of funds:
Income from:
Total funds carried forward
Net (expenditure) / income for the
year and movement in funds
Total funds brought forward
Total expenditure
Donations
Charitable activities
Charitable activities
Educational courses
Information dissemination activities
Educational courses
Information dissemination activities
Investments
Total income		 Unrestricted
£
536
1,951,211
67,141
565		 Restricted
£
-
-
-
-		 2022
Total
£
536
1,951,211
67,141
565		 Unrestricted
£
721
2,205,815
49,530
94		 Restricted
£
-
100,000
-
-		 2021
Total
£
721
2,305,815
49,530
94
2,019,453 - 2,019,453 2,256,160 100,000 2,356,160
1,860,154
348,441		 54,143
-		 1,914,297
348,441		 1,675,633
273,147		 75,857
-		 1,751,490
273,147
2,208,595 54,143 2,262,738 1,948,780 75,857 2,024,637
(189,142)
650,307		 (54,143)
68,143		 (243,285)
718,450		 307,380
342,927		 24,143
44,000		 331,523
386,927
461,165 14,000 475,165 650,307 68,143 718,450

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.

21

The Institute for Optimum Nutrition

Balance sheet

Balance sheet
As at 30 June 2022 Company no. 2724405
Note
Fixed assets:
9
Current assets:
10
Liabilities:
11
13
14
15
Total unrestricted funds
Restricted income funds
Unrestricted income funds:
Designated funds
General funds
Total charity funds
Debtors
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Creditors: amounts falling due after one year
Total assets less current liabilities
Cash at bank and in hand
Tangible assets		 £
408,386
961,258		 2022
£
9,757		 £
442,667
1,287,173		 2021
£
2,241
9,757
662,989		 2,241
1,071,415
1,369,644
(706,655)		 1,729,840
(658,425)
9,757
451,408		 2,241
648,066
672,746
(197,581)		 1,073,656
(355,206)
475,165 718,450
14,000
461,165		 68,143
650,307
475,165 718,450

Approved by the Trustees on 18 October 2022 and signed on their behalf by

Rachel Hampson Chair of the Board of Trustees

22

The Institute for Optimum Nutrition

Statement of cash flows

For the year ended 30 June 2022

Cash at bank and in hand
a
Total cash and cash equivalents
Loans falling due within one year
Loans falling due after more than one year
Total
Analysis of cash and cash equivalents and of net debt
(Decrease) / Increase in creditors
Cash flows from operating activities:
Repayments of borrowing - capital
Net (expenditure) income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends, interest and rent from investments
Interest on borrowing
Increase / (Decrease) in debtors
Cash and cash equivalents at the beginning of the
year
Cash and cash equivalents at the end of the year
Net cash (used in) / provided by financing
activities
Change in cash and cash equivalents in the year
Cash inflows from new borrowing
Repayments of borrowing - interest
Repayments of borrowing - finance leases
Cash flows from financing activities:
Net cash (used in) investing activities
Net cash (used in) / provided by operating
activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets		 £
£
(243,285)
2,490
(565)
13,396
34,281
(26,430)
(220,113)
565
(10,006)
(9,441)
(82,965)
-
(13,396)
-
(96,361)
(325,915)
1,287,173
961,258
At 1 July
2021
Cash flows
£
£
1,287,173
(325,915)
1,287,173
(325,915)
(78,098)
(18,371)
(263,329)
101,337
945,746
(242,949)
2022		 £
£
(243,285)
2,490
(565)
13,396
34,281
(26,430)
(220,113)
565
(10,006)
(9,441)
(82,965)
-
(13,396)
-
(96,361)
(325,915)
1,287,173
961,258
At 1 July
2021
Cash flows
£
£
1,287,173
(325,915)
1,287,173
(325,915)
(78,098)
(18,371)
(263,329)
101,337
945,746
(242,949)
2022		 £
£
331,523
18,404
(94)
15,122
(78,528)
280,413
566,840
94
(1,020)
(926)
(46,208)
(3,900)
(15,122)
250,000
184,770
750,684
536,489
1,287,173
Other non-
cash changes
At 30 June
2022
£
£
-
961,258
-
961,258
-
(96,469)
-
(161,992)
-
702,797
2021		 £
£
331,523
18,404
(94)
15,122
(78,528)
280,413
566,840
94
(1,020)
(926)
(46,208)
(3,900)
(15,122)
250,000
184,770
750,684
536,489
1,287,173
Other non-
cash changes
At 30 June
2022
£
£
-
961,258
-
961,258
-
(96,469)
-
(161,992)
-
702,797
2021
565
(10,006)		 94
(1,020)
(82,965)
-
(13,396)
-		 (46,208)
(3,900)
(15,122)
250,000
At 1 July
2021
£
1,287,173		 Other non-
cash changes
£
-
(325,915)
1,287,173		 750,684
536,489
961,258 1,287,173
Cash flows
£
(325,915)		 At 30 June
2022
£
961,258
1,287,173 (325,915) - 961,258
(78,098)
(263,329)		 (18,371)
101,337		 -
-		 (96,469)
(161,992)
945,746 (242,949) - 702,797

23

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

1 Accounting policies

a) Statutory information

The Institute for Optimum Nutrition is a charitable company limited by guarantee and is incorporated in the United Kingdom.

The registered office address and principal place of business is Ambassador House, Paradise Road, Richmond, TW9 1SQ.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Course fees are recognised within the financial statements when receivable by way of performance of services. Course fees that are unpaid at the year-end are included within trade debtors. Course fees received in advance of course commencement after the year-end date are carried forward within creditors as deferred income.

Non-refundable student registration fees are recognised on receipt.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is charitable expenditure.

Expenditure on charitable activities includes the costs of delivering courses and other educational activities and of producing our magazine and running our clinics to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

24

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on income, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on income, of the amount attributable to each activity

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The useful lives are as follows:

l) Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

m) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

p) Pensions

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund. The charitable company has no liability under the scheme other than for the payment of those contributions.

q) Finance Leases

Assets purchased under finance leases are capitalised as fixed assets. Obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charge. Finance charges are written off to the statement of financial activities over the period of the lease so as to produce a constant periodic rate of charge.

25

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

Diploma and Degree courses
Science Access courses
CPD Short courses
Enrolment fees
Grant
Other courses income
Magazine, membership and marketing
Clinical income
Sub-total for educational courses
Total income from charitable activities
Sub-total for information dissemination		 Unrestricted
£
1,506,776
287,429
63,195
83,561
-
10,250		 Restricted
£
-
-
-
-
-
-		 2022
Total
£
1,506,776
287,429
63,195
83,561
-
10,250		 Unrestricted
£
1,728,955
304,250
56,703
106,475
-
9,432		 Restricted
£
-
-
-
-
100,000
-		 2021
Total
£
1,728,955
304,250
56,703
106,475
100,000
9,432
1,951,211
47,062
20,079		 -
-
-		 1,951,211
47,062
20,079		 2,205,815
30,546
18,984		 100,000
-
-		 2,305,815
30,546
18,984
67,141 - 67,141 49,530 - 49,530
2,018,352 - 2,018,352 2,255,345 100,000 2,355,345

26

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

3a Analysis of expenditure (current year)

Charitable activities

Staff costs (Note 5)
Contract and casual staff
Lecturers' and tutors' fees
Clinical costs
Magazine and membership costs
Marketing and promotion costs
Room and equipment hire
Course costs
Trustee training and expenses
Auditor's remuneration
Premises Costs
Office and IT costs
Legal and professional fees
Support costs
Governance costs
Total expenditure 2022
Total expenditure 2021		 Educational
Courses
£
727,231
-
79,007
-
-
-
3,257
171,444
-
-
-
2,982
-		 Information
Dissemination
Activities
£
128,234
-
-
42,050
36,830
82,991
-
-
-
-
-
29,562
-		 Governance
costs
£
34,997
-
-
-
-
-
-
-
1,402
10,039
-
-
-		 Support
costs
£
366,606
6,775
-
-
-
-
-
-
-
-
171,138
338,654
29,539		 2022
Total
2021
Total
£
£
1,257,068
1,114,317
6,775
-
79,007
66,047
42,050
35,108
36,830
32,298
82,991
49,693
3,257
-
171,444
120,600
1,402
255
10,039
9,356
171,138
212,862
371,198
368,557
29,539
15,544
2,262,738
2,024,637
-
-
-
-
2,262,738
2,024,637
2,024,637
983,921
885,331
45,045		 319,667
27,381
1,393		 46,438
-
(46,438)		 912,712
(912,712)
-
1,914,297 348,441 - -
1,751,490 273,147 - -

27

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

3b Analysis of expenditure (prior year)

Staff costs (Note 5)
Lecturers' and tutors' fees
Clinical costs
Magazine and membership costs
Marketing and promotion costs
Room and equipment hire
Course costs
Trustee training and expenses
Auditor's remuneration
Premises Costs
Office and IT costs
Legal and professional fees
Support costs
Governance costs
Total expenditure 2021		 Charitable activities Charitable activities Governance
costs
£
34,173
-
-
-
-
-
-
255
9,356
-
-
-		 Support
costs
2021
Total
£
£
360,734
1,114,317
-
66,047
-
35,108
-
32,298
-
49,693
-
-
-
120,600
-
255
-
9,356
212,862
212,862
319,864
368,557
15,544
15,544
909,004
2,024,637
(909,004)
-
-
-
-
2,024,637
Educational
Courses
£
619,500
66,047
-
-
-
-
120,600
-
-
-
11,611
-		 Information
Dissemination
Activities
£
99,910
-
35,108
32,298
49,693
-
-
-
-
-
37,082
-
817,758
890,824
42,908		 254,091
18,180
876		 43,784
-
(43,784)
1,751,490 273,147 -

28

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

This is stated after charging:

This is stated after charging:
2022 2021
£ £
Depreciation 2,490 18,404
Interest payable on bank loans and finance leases 13,396 15,122
Operating lease rentals:
Property 122,585 146,061
Other - 5,716
Auditor's remuneration (excluding VAT):
Audit 8,400 7,797

Staff costs were as follows:

Staff costs were as follows:
Employer’s contribution to defined contribution pension schemes
Social security costs
Salaries and wages		 2022
£
1,134,233
99,932
22,903		 2021
£
1,007,084
87,158
20,075
1,257,068 1,114,317

The following number of employees received employee benefits (excluding employer pension costs and employer national insurance) during the year between:

2022 2021
No. No.
£60,000 - £69,999 1 1
£70,000 - £79,999 1 1

The total employee benefits (including employer pension contributions and employer national insurance) of the key management personnel were £232,267 (2021: £226,895).

One member of staff was made redundant during the year and received a redundancy payment of £1,780.

The charity Trustees were not paid or received any other benefits from their role as Trustees of the charity in the year (2021: £nil).

Trustees' expenses represent the payment or reimbursement of travel and subsistence costs totalling £1,172 (2021: £0) incurred by 5 (2021: 0) members relating to attendance at meetings of the Trustees.

29

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

6 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Information Dissemination
Support
Educational courses		 2022
No.
6.3
36.5
3.0		 2021
No.
6.1
33.0
3.0
45.8 42.1

7 Related party transactions

The following Trustee was paid fees for lecturing in accordance with the amendment to the articles of association that was approved in 2003.

that was approved in 2003.
J Lynch 2022
£
52		 2021
£
104
52 104

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

8 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

9 Tangible fixed assets

Depreciation
At the end of the year
At the start of the year
At the end of the year
At the end of the year
At the start of the year
Charge for the year
At the start of the year
Additions in year
Cost
Net book value		 Fixtures and
fittings
£
25,807
-		 Computer
equipment
£
14,727
10,006		 Short
leasehold
improvements
£
144,580
-		 Total
£
185,114
10,006
25,807 24,733 144,580 195,120
25,807
-		 12,486
2,490		 144,580
-		 182,873
2,490
25,807 14,976 144,580 185,363
- 9,757 - 9,757
- 2,241 - 2,241

All of the above assets are used for charitable purposes.

30

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

10 Debtors

Debtors
Trade debtors
Other debtors
Prepayments		 2022
£
211,318
82,960
114,108		 2021
£
232,991
82,960
126,716
408,386 442,667

Other debtors includes £82,992 deposit on the lease at Ambassador House, which is due in over one year.

11 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Accruals
Deferred income (note 12)
Trade creditors
Taxation and social security
Bank Loans
Other creditors		 2022
£
96,469
83,662
32,204
17,765
70,500
406,055		 2021
£
78,097
63,425
25,331
12,440
99,851
379,281
706,655 658,425

12 Deferred income

Deferred income comprises course fees received in advance, net of early payment discounts, for courses commencing after the year-end.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2022
£
379,281
(379,281)
406,055		 2021
£
170,098
(170,098)
379,281
406,055 379,281

13 Creditors: amounts falling due after one year

One to five years 2022
£
197,581		 2021
£
355,206
197,581 355,206

Amounts falling due after one year comprise accruals of £35,589 (2021: £91,877) and bank loans of £161,992 (2021: £263,329)

Bank loans are secured by a first ranking debenture over all the assets.

31

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

14a Analysis of net assets between funds (current year)

Tangible fixed assets
Net current assets
Long term liabilities
Net assets at the end of the year		 General
unrestricted
£
-
648,989
(197,581)		 Designated
£
9,757
-
-		 Restricted
£
-
14,000
-		 Total funds
£
9,757
662,989
(197,581)
451,408 9,757 14,000 475,165

14b Analysis of net assets between funds (prior year)

15a
Restricted funds:
Total restricted funds
Total designated funds
General funds
Total unrestricted funds
Total funds
Resilience and Recovery Grant
Tangible fixed assets
Long term liabilities
Net current assets
Movements in funds (current year)
Research
Fixed Asset Reserve Fund
Unrestricted funds:
Designated funds:
Net assets at the end of the year		 At 1 July
2021
£
14,000
54,143		 General
unrestricted
£
-
1,003,272
(355,206)		 Designated
£
2,241
-
-		 Restricted
£
-
68,143
-		 Total funds
£
2,241
1,071,415
(355,206)
648,066 2,241 68,143 718,450
Income &
gains
£
-
-		 Expenditure
& losses
£
-
(54,143)		 Transfers
£
-
-		 At 30 June
2022
£
14,000
-
68,143 - (54,143) - 14,000
2,241 - - 7,516 9,757
2,241 - - 7,516 9,757
648,066 2,019,453 (2,208,595) (7,516) 451,408
650,307 2,019,453 (2,208,595) - 461,165
718,450 2,019,453 (2,262,738) - 475,165

32

The Institute for Optimum Nutrition

Notes to the financial statements

For the year ended 30 June 2022

15b Movements in funds (prior year)

Restricted funds:
Total restricted funds
Total designated funds
General funds
Research
Resilience and Recovery Grant
Unrestricted funds:
Designated funds:
Fixed Asset Reserve Fund
Total funds
Short Course Development Grant
Total unrestricted funds		 At 30 June
2020
£
14,000
30,000
-		 Income &
gains
£
-
-
100,000		 Expenditure
& losses
£
-
(30,000)
(45,857)		 Transfers
£
-
-
-		 At 30 June
2021
£
14,000
-
54,143
44,000 100,000 (75,857) - 68,143
15,725 - - (13,484) 2,241
15,725 - - (13,484) 2,241
327,202 2,256,160 (1,948,780) 13,484 648,066
342,927 2,256,160 (1,948,780) - 650,307
386,927 2,356,160 (2,024,637) - 718,450

Purposes of restricted funds

Research: The Institute holds a donation of £14K and plans are in place to spend this on research in the next year.

Short Course Development Grant : The Institute received a £30K grant from RBS Social and Community Capital which has been used to fund the costs of moving Short Courses online.

Resilience and Recovery Grant : The Institute received a £100K grant in 2020/21 from Social Investment Business to support with working capital as the business transitions to the provision of degree courses. This has been used to support additional staff costs of delivering the degree.

Purposes of designated funds

Fixed Asset Reserve : This has been established to represent the net book value of fixed assets, net of finance lease creditors.

16 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

the following periods
Over five years
Less than one year
One to five years		 2022
2021
£
£
123,335
123,335
292,922
416,257
-
-
416,257
539,592
Property
416,257 539,592

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

33