| CONTENTS | PAGE | ||
|---|---|---|---|
| Reference and Administrative | Details | ||
| Trustees' report | |||
| Independent auditor's |
report | 12—14 | |
| Statement ofBnancial | activities | 15 | |
| Balance sheet | 16 | ||
| Cash Flow Statement | 17 | ||
| Notes to the financial | statements | 18-27 |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Note | 2020 | 2020 | 2020 | 2019 | |
| INCONIE | |||||
| Donations and legacies |
3,939 | 3,939 | 2,214 | ||
| Charitable actMties: |
|||||
| Membership services Conferences &training |
115,405 73,879 |
115,405 73,879 |
111,&71 237,299 |
||
| Publications | 678,373 | 678,373 | 648,040 | ||
| 867,657 | 887,657 | 997,210 | |||
| Other trading activities: property |
income | 65,918 | 65,91S | 93,747 | |
| Investments | 5,891 | 5,891 | 8,654 | ||
| TOTAL INCOME | 943,405 | 943,405 | 1,101,835 | ||
| EXPENDITURE | |||||
| Charitable activities: |
|||||
| Membership services Conferences 8 training Resources 5 Education |
46,650 181,166 209,770 |
1,813 | 46,650 182,979 209,770 |
79,641 274,077 172,261 |
|
| Publications | 417,546 | 417,548 | 395,553 | ||
| TOTAL EXPENDITURE | 3 | 855,132 | 1,813 | 856,945 | 921,642 |
| Net (expenditure)l income before gains on investments |
88,273 | (1,&13) | 86,460 | 180,193 | |
| Gains/(losses) on investments |
149 | 15,437 | |||
| NET (EXPENDITURE)l INCONIE 8 NET MOVEMENT IN FUNDS |
88,422 | (1,813) | 86,609 | 195,630 | |
| TOTAL FUNDS BROUGHT FORWARD | 2,620,784 | 33,671 | 2,654,455 | 2,458,825 | |
| TOTAL FUNDS CARRIED FORWARD | 2,709,206 | 31,858 | 2,741,064 | 2,554,455 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Note | 6 | |||||
| FIXEDASSETS | ||||||
| Intangible fixed assets |
30,653 | 24,063 | ||||
| Tangible fixed assets | 1,080,897 | 1,129,267 | ||||
| Investments | 144,112 | 142,430 | ||||
| 1,255,662 | 1,295,600 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 10 | 99,301 | 149,195 | |||
| Short term deposits Cash at bank and in |
hand | 1,091,008 384,164 |
1,017,374 347,929 |
|||
| Creditors: amounts | falling due | 1,574,473 | 1,514,498 | |||
| within one year | 11 | (89,071) | (155,643) | |||
| NET CURRENT ASSETS | 1,485,402 | 1,356,655 | ||||
| NET ASSETS | 2,741,544 | 2.554.455 | ||||
| FUNDS | ||||||
| Restricted funds |
31,858 | 33,671 | ||||
| Unrestricted funds |
||||||
| Designated funds |
12 | 1,652,411 | 1,590,800 | |||
| General fund |
12 | 1,056,795 | 1,029,964 | |||
| 2,709,206 | 2,620,784 | |||||
| 2,741,064 | 2,654,455 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Net cash (used in)l | |||||
| provided by operating |
activities | ||||
| Net movement in funds |
86,609 | 195,630 | |||
| Add back depreciation/amortisation | charge | 89,327 | 71,276 | ||
| Less interest income | (5,891) | (8,664) | |||
| (Increase)/ decrease in debtors |
49,894 | 14,029 | |||
| Increase in creditors |
(66,772) | 19,582 | |||
| Net cash (used in)l | |||||
| provided by operating |
activities | 133,157 | 291,853 | ||
| Net cash (used in) | |||||
| investing activities |
|||||
| Interest income | 5,891 | 8664 | |||
| (Gains) on irwestments | 874 | (12,888) | |||
| Purchase of irwestments | (64,589) | (20,968) | |||
| Proceeds from sale of investments | 62,033 | 16,301 | |||
| Purchase of intangible fixed assets |
(27,508) | (75,995) | |||
| Net cash (used in) investing activities |
(23,298) | (64,887) | |||
| (Decrease)/ Increase in cash and cash equivalents in the year |
109,869 | 206,968 | |||
| Cash and cash equivalents beginning ofthe year |
at the | 1,365,303 | 1,158,337 | ||
| Total cash and cash equivalents the end ofthe year |
at | 1,475,172 | 1,365,303 |
| 3. | EXPENDITURE | ||||||
|---|---|---|---|---|---|---|---|
| Other | |||||||
| Direct | Support | ||||||
| costs | costs | Total 2020 | Total 2019 | ||||
| 8 | 8 | E | |||||
| Charitable ac8vides |
|||||||
| Membership senices |
13,725 | 6,869 | 26,056 | 46,650 | 79,641 | ||
| Resources 5 Education | 52,422 | 57,828 | 99,520 | 209,TTO | 172,261 | ||
| National conferences | |||||||
| &training | 41,383 | 63,033 | 78,563 | 182,979 | 446,338 | ||
| Publications | 103,258 | 11IL259 | 196,029 | 417,546 | 395,653 | ||
| 210,788 | 245,989 | 400,'l68 | 856,945 | 1,093,903 | |||
| Support costs are detailed | in Note 5 and | are allocated on the basis of | direct staif costs. | ||||
| 4. | NET INOVESIENT IN FUNDS | ||||||
| This is stated atter charging: | 2020 | 2019 | |||||
| 6 | |||||||
| Auditors' remuneration |
for | audit (including | VAT) | 8,640 | 8,400 | ||
| Depreciation | 48,389 | 71,278 | |||||
| 5. | SUPPORT COSTS | ||||||
| 2020f | 2019 | ||||||
| Gommance Stalfcosts |
9,826 118,421 |
19,785 100,600 |
|||||
| Legal and professional OSce Establishment |
43,730 103,396 124„795 |
50,551 111,673 'l02,585 |
|||||
| 400,168 | 385,294 |
| STAFF CO | STS AND KEYISANAGEINENT PERSON |
NEL | |
|---|---|---|---|
| 2020 | 2019 | ||
| 6 | |||
| Gross salaries | 283,008 | 262,846 | |
| Redundancy | and termination | ||
| Social security | 25,215 | 23,286 | |
| Pensions | 20,986 | 20,765 | |
| 329,209 | 306,897 |
| INTANGIBLE FIXEDA | SSETS | |
|---|---|---|
| Website | Total | |
| E | ||
| Cost | ||
| At 1 January 2020 | 73,087 | 73,087 |
| Additions in the year |
27,508 | 27,508 |
| Disposals in the year |
||
| At 31 December 2020 | 100,595 | 100,595 |
| Amortisation | ||
| At 1 January 2020 | 49,004 | 49,004 |
| Charge for the year | 20,938 | 20,938 |
| Disposals in the year |
||
| At 31 December 2020 | 69,942 | 69,942 |
| Net book value | ||
| At 31December 2020 | 30,653 | 30,653 |
| At 31 December 2019 | 24,083 | 24,083 |
| TANGIBLE FIXEDASS | ETS | |||
|---|---|---|---|---|
| Fixtures | ||||
| Freehold | and | Computer | ||
| Premisea | equipment | equipment | Total | |
| 6 | 6 | |||
| Cost | ||||
| At 1 January 2020 | 1,000,000 | 340,405 | 24,459 | 1,364,864 |
| Additions in the year |
||||
| Disposals in the year |
||||
| At 31 December 2020 | 1,000,000 | 340,405 | 24,459 | 1,364,864 |
| Depreciation | ||||
| At 1 January 2020 | 106,064 | 106,265 | 23,249 | 235,578 |
| Charge for the year | 15,152 | 32,027 | 1,210 | 48,389 |
| Disposals in the year |
||||
| At 31 December 2020 | 121,215 | 138,293 | 24,459 | 283,967 |
| Net book value | ||||
| At 31 December 2020 | 878,785 | 202,113 | 1,080,897 | |
| At 31 December 2019 | 893,935 | 234,140 | 1,210 | 1,129,287 |
| 9. INVESTMENTS | 2020 | 2019 | |||
|---|---|---|---|---|---|
| 6 | |||||
| At market value: | |||||
| At I January 2020 | 142,430 | 124,875 | |||
| Additions | 64,589 | 20,968 | |||
| Disposais | (62,033) | (16,301) | |||
| Unrealised gain on investments |
(874) | 12,888 | |||
| At 31 December 2020 | 144,112 | 142,430 | |||
| The above Investment | comprises: | ||||
| Brewin Dolphin Portfolio | 'l35,538 | 134,363 | |||
| Cash with fund manager | 8578 | 8070 | |||
| 144,114 | 142,433 | ||||
| Historical cost ofmanaged | portfolio | 123,347 | 121,502 | ||
| 10.DEBTORS Due within one year |
2020f | 2019f | |||
| Trade debtors | 3,915 | 10,313 | |||
| Prepay ments | 9,761 | 39,257 | |||
| Sundry debtors and accrued | income | 85,625 | 99,625 | ||
| 99,301 | 149,195 | ||||
| 11.CREDITORS Due within one year |
2020 6 |
2019f | |||
| Trade creditors | 17,180 | 35,330 | |||
| Accruals | 20,433 | 15,242 | |||
| Deferred income | 28,421 | 65,927 | |||
| Taxation and social security | 7,300 | 6,791 | |||
| Pensions | 89 | 2,180 | |||
| Other creditors | 13,070 | 17,831 | |||
| VAT | 2,578 | 11,542 | |||
| IEI,071 | 155,843 | ||||
| Deferred income | |||||
| At 1 January Released in the year |
65,927 (65,927) |
38,634 (38,634) |
|||
| Incoming resources deferred | in the current year | 28,421 | 65,927 | ||
| At 31 December | 28,421 | 65,927 |
| Brought | Transfers | Carried | |||
|---|---|---|---|---|---|
| Restricted funds | forward 6 |
Income E |
Expenditure | and gains 6 |
forward 8 |
| CPD initiative JCPP 60th Anniversary |
39,000 7,500 |
(5,329) ~7500 |
33,671 | ||
| Total restricted funds | (12,829) | 33,671 | |||
| Designated funds |
|||||
| Fixed asset reserve Clinical research course Trainee initiative COVID —19 Building maintenance Total designated funds |
SO9,OSS 25,000 20000 954,088 |
(53,721) ~(20000 (73,721) |
440,433 20,000 150,000 100,000 7'I0,433 |
1,295,800 25,000 20,000 'l50,000 'loo,ooo 1,590,800 |
|
| General fund | 1,458,237 | 1,101,835 | (835,091) | (694,996) | 1,029,985 |
| TOTAL FUNDS |
2400 820 | 1.101025 | ~027 041 | 15,427 | 2,004,408 |
| COMPARATIVE SOFA | ||||
|---|---|---|---|---|
| Unmstricted | Restricted | Total | ||
| Note | 2019 | 2019 | 201S | |
| INCOSIE | ||||
| Donations and legacies |
2,214 | 2,214 | ||
| Charitable actMties: |
||||
| Membership services |
111,871 | 11'I,8T'I | ||
| Conferences &training |
237,299 | 237,29S | ||
| Branch activities | ||||
| Publications | 648,040 | 648,040 | ||
| 997,210 | 997,210 | |||
| Other trading activities: property |
income | 93,747 | 93,747 | |
| Investments | 8,664 | 8,664 | ||
| Other income | ||||
| TOTAL INCOME | 1,101M5 | 1,101,835 | ||
| EXPENDITURE | ||||
| Charitable activities: |
||||
| Membership services |
79,641 | 79,641 | ||
| Conferences &traipsing |
433,508 | 12,829 | 446,337 | |
| Publications | 395,663 | 395,663 | ||
| Meeting room facilities | ||||
| TOTAL EXPENDITURE | 908,812 | 12,829 | 921,641 | |
| Net (expenditure)l | ||||
| income before gains on | 193,023 | (12,829) | 180,194 | |
| investments | ||||
| Gains/(losses) on investments |
15,437 | 15,437 | ||
| NET (EXPENDITURE)l INCOME | 208,460 | (12,829) | 195,631 | |
| TOTAL FUNDS BROUGHT FORWARD | 2,412,325 | 46,500 | 2,458,825 | |
| TOTAL FUNDS CARRIED FORWARD | 2,620,785 | 33,67'I | 2,654,456 |