| CONTENTS | PAGE | ||
|---|---|---|---|
| Reference and Administrative | Details | ||
| Trustees' report | 2 —10 | ||
| Independent auditor's |
report | 11—13 | |
| Statement offinancial |
activities | 14 | |
| Balance sheet | 15 | ||
| Cash Flow Statement | 16 | ||
| Notes to the financial | statements | 17-26 |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Note | 2021 | 2021 | 2021 | 2020 | |
| INCOME | |||||
| Donations and legacies |
2,000 | 21,035 | 23,035 | 3,939 | |
| Charitable activities: |
|||||
| Membership services |
115,693 | 115,693 | 115,405 | ||
| Conferences 8 training |
232,290 | 232,290 | 73,879 | ||
| Publications | 649,894 | 649,894 | 678,373 | ||
| 997,877 | 997,877 | 867,657 | |||
| Other trading activities: property |
income | 19,846 | 19,846 | 65,918 | |
| Investments | 3,278 | 3,278 | 5,891 | ||
| TOTAL INCOME | 1,023,001 | 21,035 | 1,044,036 | 943,405 | |
| EXPENDITURE | |||||
| Charitable activities: |
|||||
| Membership services |
42,121 | 42,121 | 46,650 | ||
| Conferences & training |
153,478 | 1,718 | 155,196 | 182,979 | |
| Resources 8 Education | 257,430 | 257,430 | 209,770 | ||
| Publications | 483,002 | 483,002 | 417,546 | ||
| TOTAL EXPENDITURE | 3 | 936,031 | 1,718 | 937,749 | 856,945 |
| Net (expenditure)l income before gains on investments |
86,970 | 19,317 | 106,287 | 86,460 | |
| Gains/(losses) on investments |
13,031 | 13,031 | 149 | ||
| NET (EXPENDITURE)l INCOME & NET MOVEMENT IN FUNDS |
100,001 | 19,317 | 119,318 | 86,609 | |
| TOTAL FUNDS BROUGHT FORWARD | 2,709,206 | 31,858 | 2,741,064 | 2,654,455 | |
| TOTAL FUNDS CARRIED FORWARD | 2,809,207 | 51,175 | 2,860,382 | 2,741,064 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | E | |||||||
| FIXEDASSETS | ||||||||
| Tangible fixed assets |
1,039,062 | 1,080,897 | ||||||
| Intangible fixed assets |
34,501 | 30,653 | ||||||
| Investments | 157,789 | 144,112 | ||||||
| 1,231,352 | 1,255,662 | |||||||
| CURRENT | ASSETS | |||||||
| Debtors | 10 | 168,959 | 99,301 | |||||
| Short term | deposits | 1,137,384 | 1,091,008 | |||||
| Cash at bank and | in | hand | 428,074 | 384,164 | ||||
| 1,734,417 | 1,574,473 | |||||||
| Creditors: | amounts | falling due | ||||||
| within one year | 11 | (105,387) | (89,071) | |||||
| NET CURRENT ASSETS | 1,629,030 | 1,485,402 | ||||||
| NET ASSETS | 2,860,382 | 2,741,064 | ||||||
| FUNDS | ||||||||
| Restricted | funds | 51,175 | 31,858 | |||||
| Unrestricted | funds | |||||||
| Designated funds |
12 | 1,631,165 | 1,652,411 | |||||
| General | fund | 12 | 1,178,042 | 1,056,795 | ||||
| 2,809,207 | 2,709,206 | |||||||
| 2,860,382 | 2,741,064 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Net cash | (used in)/ | |||||
| provided | by operating | activities | ||||
| Net movement in funds |
119,318 | 86,609 | ||||
| Add back | depreciation/amortisation | charge | 63,364 | 69,327 | ||
| Less interest income | (3,278) | (5,891) | ||||
| (Increase)/ | decrease in debtors |
(69,658) | 49,894 | |||
| Increase in creditors |
16,316 | (66,772) | ||||
| Net cash | (used in)/ | |||||
| provided | by operating | activities | 126,062 | 133,167 | ||
| Net cash | (used in) | |||||
| investing | activities | |||||
| Interest income | 3,278 | 5,891 | ||||
| (Gains) on investments | (9,666) | 874 | ||||
| Purchase | of investments | (24,073) | (64,589) | |||
| Proceeds | from sale of investments | 20,062 | 62,033 | |||
| Purchase | oftangible fixed | assets | (5,631) | |||
| Purchase | of intangible fixed assets |
(19,745) | (27,508) | |||
| Net cash investing |
(used in) activities |
(35,774) | (23,298) | |||
| (Decrease)/ Increase in cash and equivalents in the year |
cash | 90,288 | 109,869 | |||
| Cash and beginning |
cash equivalents of the year |
at the | 1,475,172 | 1,365,303 | ||
| Total cash | and cash equivalents | at | ||||
| the end ofthe year | 1,565,460 | 1,475,172 |
| Direct Staff | Other Direct | Support | ||||
|---|---|---|---|---|---|---|
| costs | costs | costs | Total 2021 | Total 2020 | ||
| Charitable | activities | |||||
| Membership | services | 15,397 | 1,603 | 25,121 | 42,121 | 46,650 |
| Resources | & Education | 57,520 | 106,066 | 93,844 | 257,430 | 209,770 |
| National conferences |
||||||
| & training | 34,412 | 64,641 | 56,143 | 155,196 | 182,979 | |
| Publications | 129,912 | 141,138 | 211,952 | 483,002 | 417,546 | |
| 237,241 | 313,448 | 387,060 | 937,749 | 856,945 |
| This is stated after cha | rging: | 2021 | 2020 | |
| E | ||||
| Auditors' remuneration |
for audit (including | VAT) | 8,640 | 8,640 |
| Depreciation | 47,467 | 48,389 | ||
| SUPPORT COSTS | ||||
| 2021 | 2020 | |||
| Governance | 9,110 | 9,826 | ||
| Staff costs | 121,038 | 118,421 | ||
| Legal and professional | 63,911 | 43,730 | ||
| Office | 97,946 | 103,396 | ||
| Establishment | 95,055 | 124,795 | ||
| 387,060 | 400,168 |
| STAFF CO | STS AND KEY MANAGEMENT PERSONN |
EL | |
|---|---|---|---|
| 2021 | 2020 | ||
| Gross salaries | 305,927 | 283,008 | |
| Redundancy | and termination | ||
| Social security | 27,921 | 25,215 | |
| Pensions | 24,431 | 20,986 | |
| 358,279 | 329,209 |
| INTANGIBLE FIXEDA | SSETS | |
|---|---|---|
| Website | Total | |
| Cost | ||
| At 1 January 2021 |
100,595 | 100,595 |
| Additions in the year |
19,745 | 19,745 |
| Disposals in the year |
||
| At 31 December 2021 | 120,340 | 120,340 |
| Amortisation | ||
| At 1 January 2021 |
69,942 | 69,942 |
| Charge for the year | 15,897 | 15,897 |
| Disposals in the year |
||
| At 31 December 2021 | 85,839 | 85,839 |
| Net book value | ||
| At 31 December 2021 | 34,501 | 34,501 |
| At 31 December 2020 | 30,653 | 30,653 |
| Fixtures | ||||||
|---|---|---|---|---|---|---|
| Freehold | and | Computer | ||||
| Premises | equipment | equipment | Total | |||
| F | ||||||
| Cost | ||||||
| At 1 January | 2021 | 1,000,000 | 340,405 | 24,459 | 1,364,864 | |
| Additions in |
the year | 5,631 | 5,631 | |||
| Disposals in |
the year | |||||
| At 31 December 2021 | 1,000,000 | 340,405 | 30,090 | 1,370,495 | ||
| Depreciation | ||||||
| At 1 January |
2021 | 121,215 | 138,293 | 24,459 | 283,967 | |
| Charge for the year | 15,152 | 31,281 | 1,035 | 47,467 | ||
| Disposals in |
the year | |||||
| At 31 December 2021 | 136,367 | 169,573 | 25,494 | 331,434 | ||
| Net book value | ||||||
| At 31 December 2021 | 863,633 | 170,832 | 4,596 | 1,039,062 | ||
| At 31 December 2020 | 878,785 | 202,113- | 0 | 1,080,897 |
| 9. | INVESTMENTS | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|---|
| At market value: | |||||||
| At 1 January 2021 | 144,112 | 142,430 | |||||
| Additions | 24,073 | 64,589 | |||||
| Disposals | (20,062) | (62,033) | |||||
| Unrealised gain/(loss) |
on | investments | 9,666 | (874) | |||
| At 31 December | 2021 | 157,789 | 144,112 | ||||
| The above investment | comprises: | ||||||
| Brewin Dolphin | Portfolio | 151,932 | 135,538 | ||||
| Cash with fund | manager | 5,857 | 8,576 | ||||
| 157,789 | 144,114 | ||||||
| Historical cost of | managed | portfolio | 125,514 | 123,347 | |||
| 10. | DEBTORS | 2021 | 2020 | ||||
| Due within one year | |||||||
| Trade debtors | 12,350 | 3,915 | |||||
| Prepayments | 9,148 | 9,761 | |||||
| Sundry debtors and accrued | income | 147,461 | 85,625 | ||||
| 168,959 | 99,301 | ||||||
| 11. | CREDITORS | 2021 | 2020 | ||||
| Due within one year | |||||||
| Trade creditors | 25,488 | 17,180 | |||||
| Accruals | 19,832 | 20,433 | |||||
| Deferred income |
40,927 | 28,421 | |||||
| Taxation and social security | 8,769 | 7,300 | |||||
| Pensions | 2,933 | 89 | |||||
| Other creditors | 1,914 | 13,070 | |||||
| VAT | 5,524 | 2,578 | |||||
| 105,387 | 89,071 | ||||||
| Deferred income | |||||||
| At 1 January | 28,421 | 65,927 | |||||
| Released in the |
year | (28,421) | (65,927) | ||||
| Incoming resources deferred |
in the current year | 40,927 | 28,421 | ||||
| At 31 December | 40,927 | 28,421 |
| STATEMENT O | F FUNDS - | 2020 (Comparativ | e) | |||
|---|---|---|---|---|---|---|
| Brought | Transfers | Carried | ||||
| forward | Income | Expenditure | and gains | forward | ||
| Restricted funds | ||||||
| Clinical research | course | 33,671 | (1,813 | 31,858 | ||
| Total restricted | funds | 33,671 | (1,813) | 31,858 | ||
| Designated funds |
||||||
| Fixed asset reserve | 1,295,800 | (48,389) | 1,247,411 | |||
| Clinical research | course | 25,000 | 25,000 | |||
| Trainee initiative |
20,000 | (20,000) | ||||
| COVID - 19 | 150,000 | (150,000) | ||||
| Building maintenance |
100,000 | (53,065) | 33,065 | 80,000 | ||
| Video portal | 300,000 | 300,000 | ||||
| Total designated | funds | 1,590,800 | (101,454) | 163,065 | 1,652,411 | |
| General fund | 1,029,985 | 943,405 | (753,678) | (162,916) | 1,056,795 | |
| TOTAL FUNDS |
2,654,456 | 943,405 | (856,945) | 149 | 2,741,064 |
| COMPARATIVE SOFA |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| Note | 2020 | 2020 | 2020 | ||
| INCOME | |||||
| Donations and legacies |
3,939 | 3,939 | |||
| Charitable activities: |
|||||
| Membership services |
115,405 | 115,405 | |||
| Conferences 8 training |
73,879 | 73,879 | |||
| Branch activities | |||||
| Publications | 678,373 | 678,373 | |||
| 867,657 | 867,657 | ||||
| Other trading activities: property |
income | 65,918 | 65,918 | ||
| Investments | 5,891 | 5,891 | |||
| Other income | |||||
| TOTAL INCOME | 943,405 | 943,405 | |||
| EXPENDITURE | |||||
| Charitable activities: |
|||||
| Membership services |
46,650 | 46,650 | |||
| Conferences & training |
181,166 | 1,813 | 182,979 | ||
| Resources & Education |
209,770 | 209,770 | |||
| Publications | 417,546 | 417,546 | |||
| TOTAL EXPENDITURE | 855,132 | 1,813 | 856,945 | ||
| Net (expenditure)l | |||||
| income before gains on | 88,273 | (1,813) | 86,460 | ||
| investments | |||||
| Gains/(losses) on investments |
149 | 149 | |||
| NET (EXPENDITURE)I INCOME | 88,422 | (1,813) | 86,609 | ||
| TOTAL FUNDS BROUGHT FORWARD | 2,620,784 | 33,671 | 2,654,455 | ||
| TOTAL FUNDS CARRIED FORWARD | 2,709,206 | 31,858 | 2,741,064 |