Company number: 03326162 Charity number: 1063743
ISUOG Courses and Conferences Limited
Report and financial statements For the year ended 31 December 2021
ISUOG Courses and Conferences Limited
Contents
For the year ended 31 December 2021
Reference and administrative information .....................................................................................1 Trustees’ annual report ..................................................................................................................2 Independent auditor’s report .........................................................................................................5 Statement of financial activities (incorporating an income and expenditure account) ....................6 Balance sheet .................................................................................................................................7 Notes to the financial statements ....................................................................................................8
ISUOG Courses and Conferences Limited
Reference and administrative information
For the year ended 31 December 2021
Company number 03326162 Country of incorporation United Kingdom Charity number 1063743 Country of registration England & Wales
Registered office and operational address 122 Freston Road, London, W10 6TR
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:
Professor T Bourne
Mr J Vos
Independent examiner Joanna Pittman FCA Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House 108-114 Golden Lane
LONDON
EC1Y 0TL
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ISUOG Course and Conferences Limited
Trustees’ annual report
For the year ended 31 December 2021
The Trustees present their report and the audited financial statements for the year ended 31[st] December 2021.
Reference and administrative information set out on page 99 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Structure, governance and management
ISUOG Courses and Conferences Limited (ISUOG-CCL) is a charitable company limited by guarantee as defined by the Companies Act 2006 and a registered charity governed by its Memorandum and Articles of Association (charity number 1063743; company number 03226162). In the event of the company being wound up members are required to contribute up to £1 each.
ISUOG-CCL operates as a subsidiary of the International Society of Ultrasound in Obstetrics and Gynecology (ISUOG) by virtue of joint control.
Appointment of Trustees
The Directors (Trustees) are responsible for the appointment of new Board Members. New Trustees are selected based on their existing and ongoing input into the relevant educational activities of the Company prior to their appointment.
Trustee induction and training
New Trustees are generally existing Trustees or senior management of the parent company, (ISUOG), where they are formally inducted. As such, no formal induction is generally required.
All Trustees give their time voluntarily and receive no benefits from the charity. No expenses have been reclaimed from the charity.
Objectives and activities
Purposes and aims
ISUOG-CCL is established for the protection and preservation of health by promoting education in obstetrics and gynecology for the benefit of the public.
The charity’s primary activity in achieving this aim is providing education in ultrasound in obstetrics and gynecology.
The charity will be dormant in 2022.
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ISUOG Course and Conferences Limited
Trustees’ annual report
For the year ended 31 December 2021
Financial review
Although CCL did not trade during 2021, it recorded a surplus of £35,016 (2020: loss of £35,016). This was driven by a donation by the parent charity, ISUOG, and some late conference costs recorded in 2021. This had the effect of bringing reserves to zero compared to the final reserves figure for 2020 that showed reserves in deficit by £35,016. CCL’s balance sheet now shows zero funds carried forward.
Reserves policy and going concern
The Trustees have assessed the financial and operating outlook for the next 12 months in order to identify any material uncertainties that may impact ISUOG-CCL’s ability to continue operating. The company was dormant in 2021 and has no plans to operate in the future. Trustees believe that the support from the parent company, ISUOG, means that ISUOG-CCL can operate again if ever required. The Trustees also believe that this support means that it is not necessary for ISUOG-CCL to hold any reserves and it is appropriate to prepare the financial statements on a going concern basis.
Fundraising
The charity does not fundraise; its income is derived from conferences and education courses.
Plans for the future
There are no plans to run any activities through ISUOG-CCL in 2022, but the Trustees will keep the situation under review.
Related parties and relationships with other organisations
The Charity is a 100% subsidiary of the International Society of Ultrasound and Gynecology (ISUOG) by means of joint control.
There were no related party transactions during the year except those with the parent company as shown in note 11.
Statement of responsibilities of the Trustees
The Trustees (who are also directors of ISUOG Courses and Conferences Limited 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).
Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources
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ISUOG Course and Conferences Limited
Trustees’ annual report
For the year ended 31 December 2021
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:
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgements and estimates that are reasonable and prudent
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
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:
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There is no relevant audit information of which the charitable company’s auditor is unaware
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The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information
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 governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Independent Examiner
Sayer Vincent LLP were appointed as the charitable company's independent examiner during the year and has expressed its willingness to continue in that capacity.
The directors’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
The Trustees’ annual report has been approved by the Trustees on 28 July 2022 and signed on their behalf by
Professor Tom Bourne
Trustee
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Independent examiner’s report
To the members of
ISUOG Courses and Conferences Limited
I report to the Trustees on my examination of the accounts of ISUOG Courses and Conferences Limited for the year ended 31 December 2021.
This report is made solely to the Trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the Trustees as a body, for my examination, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity Trustees of the Company, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011 (‘the 2011 Act’).
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act or
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2 The accounts do not accord with those records; or
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3 The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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4 The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Joanna Pittman FCA
The Institute of Chartered Accountants in England and Wales
Address: Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London, EC1Y 0TL
5 August 2022
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ISUOG Courses and Conferences Limited
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 December 2021
| Note Income from: Charitable activities: Donations Congress income Other educational events and activities Total income Expenditure on: Charitable activities Congress costs 2 Other educational events and activities 2 Total expenditure Net expenditure for the year 3 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
2021 Total £ 46,794 - - 46,794 11,778 - 11,778 35,016 35,016 (35,016) - |
2020 Total £ - 1,129,296 72,498 |
|---|---|---|
| 1,201,794 | ||
| 1,139,798 97,012 |
||
| 1,236,810 | ||
| (35,016) | ||
| (35,016) | ||
| - | ||
| (35,016) |
Income and expenditure derive from unrestricted activities.
The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 14 form part of these accounts.
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ISUOG Courses and Conferences Limited
Company no. 03326162
Balance sheet
As at 31 December 2021
| Current assets: Note Debtors 6 Liabilities: Creditors: amounts falling due within one year 7 Net current assets Total net assets The funds of the charity: Unrestricted income funds: 10 General funds Total unrestricted funds Total charity funds |
2021 £ - |
2020 £ 40,958 |
|---|---|---|
| - - |
40,958 (75,974) |
|
| - | (35,016) | |
| - | (35,016) | |
| - | (35,016) | |
| - | (35,016) | |
| - | (35,016) |
The opinion of the directors is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge the following responsibilities:
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(i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
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(ii) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
The financial statements were approved and authorised for issue by the Trustees on 28 July 2022 and signed on their behalf by
Professor Tom Bourne Trustee
The notes on pages 106 to 112 form part of these accounts.
Company registration number: 03326162
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ISUOG Courses and Conferences Limited
Notes to the financial statements
For the year ended 31 December 2021
-
1 Accounting policies
-
a) General information and basis of preparation : ISUOG Courses and Conferences Limited is a charitable company limited by guarantee and is incorporated in England & Wales. The registered office address is 122 Freston Road, London, W10 6TR.
The charity constitutes a public benefit entity as defined by FRS 102. 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.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling, which is the functional currency of the charity and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
- (b) Going concern : These financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. There are currently no funds held, and there are no plans for trade going forward.
If CCL does start to trade at a future point, the parent company, The International Society of Ultrasound in Obstetrics & Gynecology, will provide necessary support to ISUOG Courses and Conference Limited to ensure the company remains solvent.
- (c) Income recognition : All income is included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
The following specific policies are applied to particular categories of income :-
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l Income receivable from conference activity is included as conference activity progresses.
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l Licence fees and other income receivable from any conferences, symposia, seminars or other education events held directly by or on behalf of the Society are accrued upon completion of each event.
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l No amount is included in the financial statements for volunteer time in line with the charities SORP. Further detail is given in the Trustees’ Annual Report, where relevant.
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(d) Expenditure recognition : All expenditure is accounted for on an accruals basis and has been classified under activities that aggregate all costs related to any particular activity. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties; it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
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l Expenditure on charitable activities includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them; and
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l Other expenditure represents those items not falling into the category above.
The allocation of indirect costs is by percentage of staff time or percentage of space used to accommodate the activity or staff.
Irrecoverable VAT is charged as an expense.
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ISUOG Courses and Conferences Limited
Notes to the financial statements
For the year ended 31 December 2021
-
1 Accounting policies (continued)
-
(e) Support costs allocation : Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular activities they have been allocated to expenditure on charitable activities on a basis consistent with the use of resources, which may be actual or based on a proportion of staff costs. The analysis of these costs is included in Note 2.
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(f) Fund accounting : Funds held by the charity are either:-
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(i) Unrestricted general funds – these are funds without specified purpose and are available as general funds.
(ii) Restricted funds – these are funds which can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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(g) Debtors and creditors receivable/payable within one year : Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
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(h) Provisions : Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
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(i) Financial instruments : The Charity has only financial assets and liabilities of a kind that qualify as basic financial instruments. These basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
9
ISUOG Courses and Conferences Limited
Notes to the financial statements
For the year ended 31 December 2021
2 Analysis of expenditure (current year)
Charitable activities
| Basis of allocation Direct costs: Event costs Direct Education costs Direct Audit fees Direct Total direct costs Support costs: Other costs % Costs Total support costs Total costs excluding governance costs Governance costs % Costs Total Expenditure 2021 |
Congress costs £ - - - |
Other Education eventsand activities £ - - - |
Governance costs £ - - - |
2021 Total £ - - - |
2020 Total £ 402,570 34,264 3,800 |
|---|---|---|---|---|---|
| - 11,778 |
- - |
- - |
- 11,778 |
440,634 796,176 |
|
| 11,778 11,778 - |
- - - |
- - - |
11,778 11,778 - |
796,176 1,236,810 - |
|
| 11,778 | - | - | 11,778 | 1,236,810 |
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ISUOG Courses and Conferences Limited
Notes to the financial statements
For the year ended 31 December 2021
- 2 Analysis of expenditure (prior year)
Charitable activities
| Basis of allocation Direct costs: Event costs Direct Education costs Direct Audit fees Direct Total direct costs Support costs: Other costs % Costs Total support costs Total costs excluding governance costs Governance costs % Costs Total Expenditure 2020 |
Congress costs £ 402,570 - - |
Other Education eventsand activities £ - 34,264 - |
Governance costs £ - - 3,800 |
2020 Total £ 402,570 34,264 3,800 |
|---|---|---|---|---|
| 402,570 733,726 |
34,264 62,450 |
3,800 - |
440,634 796,176 |
|
| 733,726 1,136,296 3,502 |
62,450 96,714 298 |
- 3,800 (3,800) |
796,176 1,236,810 - |
|
| 1,139,798 | 97,012 | - | 1,236,810 |
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ISUOG Courses and Conferences Limited
Notes to the financial statements
For the year ended 31 December 2021
3 Net expenditure for the year
This is stated after charging / (crediting):
Auditor's remuneration (excluding VAT):
2021 2020 £ £ 1,000 3,800
4 Trustee remuneration and expenses
The constitution prohibits the Trustees, from being remunerated. They neither received nor waived any remuneration during the year (2020: £nil).
No honoraria were paid in the year for chairing or organising courses (2020: £nil)
Trustees' expenses totalled £nil (2020: £nil).
5 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
6 Debtors
| Debtors | ||
|---|---|---|
| Trade debtors Other debtors Creditors: amounts falling due within one year Amounts due to parent charity Accruals |
2021 £ - - |
2020 £ 2,000 38,958 |
| - | 40,958 | |
| 2021 £ - - |
2020 £ 65,611 10,363 |
|
| - | 75,974 |
7 Creditors: amounts falling due within one year
8 Guarantee of members
There were 2 members of the Society at 31 December 2021 (2020: 2). Each member undertakes to contribute up to £1 to the company in the event that the company is wound-up; this guarantee extends for one year after a person ceases to be a member.
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ISUOG Courses and Conferences Limited
Notes to the financial statements
For the year ended 31 December 2021
9 Analysis of net assets between funds (current year)
| ISUOG Courses and Conferences Limited Notes to the financial statements For the year ended 31 December 2021 9Analysis of net assets between funds (current year) |
|||||
|---|---|---|---|---|---|
| Current assets Current liabilities Net assets at 31 December 2021 9bAnalysis of net assets between funds (prior year) Current assets Current liabilities Net assets at 31 December 2020 10 Movements in funds (current year) At 1 January 2021 Income & gains £ £ Unrestricted funds: General funds (35,016) 46,794 Total unrestricted funds (35,016) 46,794 Total funds (35,016) 46,794 |
Expenditur e & losses £ (11,778) |
Unrestricted £ - - |
Total funds £ - - |
||
| - | - | ||||
| Unrestricted £ 40,958 (75,974) |
Total £ 40,958 (75,974) |
||||
| (35,016) | (35,016 | ||||
| Transfe rs £ - - - |
At 31 December 2021 £ - - - |
||||
| (11,778) | |||||
| (11,778) |
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ISUOG Courses and Conferences Limited
Notes to the financial statements
For the year ended 31 December 2021
10b Movements in funds (prior year)
| Unrestricted funds: General funds Total unrestricted funds Total funds |
At 1 January 2020 £ - - - |
Income & gains £ 1,201,794 1,201,794 1,201,794 |
Expenditure & losses £ (1,236,810) (1,236,810) (1,236,810) |
Transfers £ - - - |
At 31 December 2020 £ (35,016) |
|---|---|---|---|---|---|
| (35,016) | |||||
| (35,016) |
11 Related party transactions
The parent charity, ISUOG, donated £46,794 to ISUOG - CCL during the year as an unrestricted donation, in order to finance current year costs and the deficit recorded in 2020.
There were no other payments to or from any other related parties.
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