2020-12-31-accounts - The British Orthodontic Society

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Group/Meeting	DateHeld	ìVenue	No.Delegates	No.Speakers
rrGGMOrthStudy	9January2020	HamiltonHouse,	71	6
Dav		London
Practitioner Group	25 January 2020	StratfordManor,	63	6
Study Dav		Stratford-on-Avon
~ointBOS,BSPD,RCS	31January 2020	London	140	9
Eng-Paediatric
Orthodonticmeeting
AdvancedCritical	31January-	BOSHQ,London	23	1
[AppraisalWorkshop	1February 2020
Orthodontics: A	3February 2020	BOSHQ,London	16	5
Rough Guide

Group/Meeting	Date Held	Venue		No.Delegates	No.Speakers
OSGSpring Meeting	29 February 2020	Royal Collegeof		149	8
		Phvsicians	London
Pearls,Pitfallsand	5March 2020	BOSHO, London		19	3
Professional
Development -day 4
COGSymposium	5-6March 2020	BristolWatershed,		108	10
		Bristol
'TalkingHeads'-	5August 2020	Online		87	5
raining inapostCovid
era
For Trainers
'Talking Heads'-	12August2020	Online		97	5
raining inapost Covid
era
For Trainees
Disobedient canines-	29 September 2020	Onlinevia	ProDental	246	2
bringing them into line
Enhancingpatient	22 October 2020	Online		52	1
communication
SHOStudy Dav	22 October 2020	Online		77	8
!Virtual CriticalAppraisal	11 December 2020	Online		30	1
>-OrthodonticTrainees
Workshop

ProfJonathan Sandler	President
DrAndrewDiBiase	HonorarySecretary&		CompanySecretary
DrNigelFox	Honorary Treasurer
DrJosephNoar	Directorate	ofClinical	Governance(resigned31December2020)
DrJadbinder Seehra	Directorate	ofClinical	Governance(appointed IJanuary2021)
DrGuyDeeming	Directorate	ofClinical	Practice (resigned 1	January2020)
DrAnshuSood	Directorate	ofClinical	Practice (appointed	1January2020)
DrSusanMoore	Directorate	ofEducation
DrPeterMcCallum	Directorate	ofExternal	Relations (resigned	27November2020)
DrAnjliPatel	Directorate	ofExternal	Relations(appointed	IJanuary2021)
DrDavidWaring	Directorate	ofProfessional Development
ProfPhilip Benson	Directorate	ofResearch(resigned1January2020)
ProfSueCunningham	Directorate	ofResearch(appointed 1January2020)

		Unrestricted	Restricted	Total	Total
		funds	funds	2020	2019
	Notes	£	£	£	£
INCOME FROM:
Donationsandlegacies	3		31,281	31,281	16,478
Charitable activities:
Dissemination ofinformation	4	676,959		676,959	1,336,092
Investments	5	38,751	6,049	44,800	82,240
TOTAL		715,710	37,330	753,040	1,434,810
EXPENDITURE ON:
Raisingfunds:
Investment managementcosts		(5,382)	(1,706)	(7,088)	(10,998)
Charitableactivities:
Disseminationofinformation	6	(876,315)	(15,929)	(892,244)	(1,460,354)
TOTAL		(881,697)	(17,635)	(899,332)	(1,471,352)
Netgainsoninvestments	11	19,814	61,636	81,450	200,112
NET INCOME/(EXPENDITURE) AND
NET MOVEMENT IN FUNDS		(146,173)	81,331	(64,842)	163,570
RECONCILIATION OF FUNDS
Fundbalancesbroughtforward
at1January2020		2,922,199	494,698	3,416,897	3,253,327
FUND BALANCES
CARRIED FORWARD
AT 31 DECEMBER 2020	16	2,776,026	576,029	3,352,055	3,416,897
		`================================`			-------- --------

		Unrestricted	Restricted	Total	Total
		funds	funds	2019	2018
	Notes	£	£	£	£
INCOME FROM:
Donationsandlegacies	3		16,478	16,478	19,478
Charitableactivities:
Dissemination ofinformation	4	1,331,187	4,905	1,336,092	1,449,656
Investments	5	72,921	9,319	82,240	81,216
TOTAL		1,404,108	30,702	1,434,810	1,550,350
EXPENDITURE ON:
Raisingfunds:
Investment managementcosts		(8,514)	(2,484)	(10,998)	(11,074)
Charitable activities:
Disseminationofinformation	6	(1,433,838)	(26,516)	(1,460,354)	(1,565,956)
TOTAL		(1,442,352)	(29,000)	(1,471,352)	(1,577,030)
Netgains/(Iosses)oninvestments	11	153,926	46,186	200,112	(136,255)
NET INCOMEj(EXPENDITURE) AND
NET MOVEMENT IN FUNDS		115,682	47,888	163,570	(162,935)
RECONCILIATION OF FUNDS
Fundbalancesbroughtforward
at1January2019		2,806,517	446,810	3,253,327	3,416,262
FUND BALANCES
CARRIED FORWARD
AT 31 DECEMBER 2019	16	2,922,199	494,698	3,416,897	3,253,327
		`--------------------------------` `--------------------------------`			========

BALANCESHEET
as at 31 December 2020		CompanyNumber:	03695486
		2020	2019
	Notes	£	£
FIXEDASSETS
Tangibleassets	`lO`	1,152,701	1,177,350
Investments	11	2,030,308	1,782,455
		3,183,009	2,959,805
CURRENTASSETS
Debtors	12	154,269	204,426
Cashatbankandinhand		212,984	368,284
		367,253	572,710
LIABILITIES
Creditors: Amounts fallingduewithinoneyear	13	(198,207)	(115,618)
NET CURRENTASSETS		169,046	457,092
TOTALASSETSLESSCURRENT LIABILITIES
AND NETASSETS		3,352,055	3,416,897
		========	========
THE FUNDSOFTHE CHARITY
Restricted income funds
Scholarship Fund	15	65,169	61,129
Foundation Fund	15	510,860	433,569
Unrestrictedincome funds
GeneralFund	15	2,776,026	2,922,199
TOTAL CHARITY FUNDS	16	3,352,055	3,416,897
		========	`========`

STATEMENT OF CASH FLOWS
forthe year ended 31 December 2020
		2020	2019
	Notes	£	£
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used inoperatingactivities	17	(25,414)	(177,635)
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends,interest,andrentsfrominvestments		44,800	82,240
Purchaseoftangiblefixedassets		(8,286)
Proceedsfromsaleofinvestments		2,489,540	229,656
Purchaseofinvestments		(2,655,940)	(209,795)
Netcash(usedin)/providedbyinvestingactivities		(129,886)	102,101
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE REPORTING PERIOD		(155,300)	(75,534)
Cashandcashequivalents at thebeginningof
thereportingperiod	18	368,284	443,818
CASH AND CASH EQUIVALENTS ATTHE END
OF THE REPORTING PERIOD	18	212,984	368,284

3.	DONATIONS AND	LEGACIES	LEGACIES	Unrestricted	Restricted	Total	Total
				funds	funds	2020	2019
				£	£	£	£
	Generaldonations	andothersimilar
	typesofvoluntary	income			31,281	31,281	16,478
4.	DISSEMINATION OF INFORMATION			Unrestricted	Restricted	Total	Total
				funds	funds	2020	2019
				£	£	£	£
	Subscriptions			515,122		515,122	534,103
	Annual Conference			12,870		12,870	514,533
	Other meetings			31,908		31,908	117,562
	Journalincome			45,350		45,350	89,840
	Tradeawardsponsorship						4,905
	Salesofpublications			57,959		57,959	68,776
	Otherpublications	income					2,269
	Grantincome-smallbusinessscheme			10,000		10,000
	Otherincome			3,750		3,750	4,104
				676,959		676,959	1,336,092
5.	INVESTMENTS			Unrestricted	Restricted	Total	Total
				funds	funds	2020	2019
				£	£	£	£
	Bankinterestreceivableonshortterm
	cashdeposits			181	102	283	653
	Incomefrominvestments		listedon
	arecognised stock	exchange		31,231	5,947	37,178	40,223
	Roomhireandassociated		servicecharge
	incomereceivable			7,339		7,339	41,364
				38,751	6,049	44,800	82,240
							------- -------

COSTS OF THE DISSEMINATION	COSTS OF THE DISSEMINATION	Unrestricted	Restricted	Total	Total
OF INFORMATION		funds	funds	2020	2019
		£	£	£	£
					Asrestated
Annual Conference		22,554		22,554	487,952
Othermeetings		28,151		28,151	80,133
Educationalprojectcosts					3,072
Prizes andawardstoone
(2019:twenty-eight) individuals			37	37	13,719
Journalexpenditure		109,423		109,423	(7,320)
Publications costs					123,793
Legalfeesjudicial review		94,943		94,943	13,338
Publicrelations		43,581		43,581	53,442
Museumcuratorfees		7,512		7,512	10,200
Subscriptions-international		3,823		3,823	7,347
Research projectgrantsto	two
(2019: three)individuals			15,892	15,892	12,797
Professionaldevelopment	costs	128,579		128,579	131,890
Subscriptions -national		84		84	1,073
		438,650	15,929	454,579	931,436
Supportcosts(seenote7)		437,665		437,665	528,918
		876,315	15,929	892,244	1,460,354
		`===============================`			========

SUPPORT&GOVERNANCECOSTS	Support	Governance	Total	Total
	costs	costs	2020	2019
	£	£	£	£
				Asrestated
Staffcosts(seenote8)(98:2)	167,562	3,420	170,982	170,130
Trusteeandcommittee meeting
expenses_(50:50) _	9,506	9,506	19,012	15,814
Travelandsubsistence_(60:40) _	1,541	1,027	2,568	6,014
Office,property,and insurancecosts	39,016		39,016	53,169
Telephone,printing,postage,andstationery	27,150		27,150	47,661
Computer costs	12,084		12,084	11,190
Auditor'sremuneration:
Audit fees		17,500	17,500	15,000
Accountancy andadvisory_(50:50) _	5,315	5,315	10,630	8,138
Otheraccountancy andadvisory_(50:50) _	29,586	29,586	59,172	34,693
Otherprofessional fees(88:12)				7,420
Bank and credit cardcharges	4,804		4,804	11,604
IrrecoverableValueAddedTax	6,804		6,804	91,282
Otherexpenses	35,008		35,008	20,231
Depreciation:
Ownedassets	21		21	3,866
Leased assets	32,914		32,914	32,706
	371,311	66,354	437,665	528,918
	`===============================`			=======

STAFF COSTS	2020	2019
	No.	No.
Theaveragemonthly numberofpersonsemployedbythecharitable
company (excludingTrusteesand directors)during the yearwas,
asfollows:
Office andadministration	3	3
	£	£
		Asrestated
Staffcostsfor theabove persons:
Wages and salaries	120,267	117,736
Socialsecuritycosts	9,948	12,692
Casual staffcosts	33,801	35,896
Recruitment expenses	885
TrainingFees	1,838
Pensioncosts	4,243	3,806
	170,982	170,130
	=======	=======

TANGIBLE ASSETS	Long-leasehold	Computers and
	buildings	office equipment	TOTAL
	£	£	£
Cost:
1January2020	1,629,778	107,643	1,737,421
Additions	7,536	750	8,286
31December2020	1,637,314	108,393	1,745,707
Depreciation:
1January2020	452,428	107,643	560,071
Chargeforyear	32,914	21	32,935
31December2020	485,342	107,664	593,006
Netbookvalue:
31December2020	1,151,972	729	1,152,701
	`============================`		========
31December2019	1,177,350		1,177,350
	`============================`		========

INVESTMENTS		2020	2019
		£	£
Investmentlistedonarecognised	stockexchangeatmarketvalue:
1January 2020		1,782,455	1,602,204
Additionsatcost		2,655,943	209,795
Disposal proceeds		(2,489,540)	(229,656)
Realisedlosses		(159,448)	(20,663)
Unrealisedgains		240,898	220,775
31December 2020		2,030,308	1,782,455
Atthe balancesheetdate,themarketvalue of theportfoliocomprised:
UK investments		2,030,308	1,053,382
Overseasinvestments			729,073
		2,030,308	1,782,455
		--------	--------
		--------	--------
Fixed incomesecurities			301,924
Equities		2,030,308	1,480,531
		2,030,308	1,782,455
			========

DEBTORS	2020	2019
	£	£
Amountsfalling due withinoneyear:
Tradedebtors	20,764	64,603
Otherdebtors	38,249	30,821
Prepayments and accruedincome	95,256	109,002
	154,269	204,426
	=======	=======

13.	CREDITORS	2020	2019
		£	£
	Amountsfallingduewithin oneyear:
	Tradecreditors	34,053	35,192
	Other creditors	21,911	33,423
	Accruals and deferred income	142,243	47,003
		198,207	115,618
			=======
	Deferredincome:
	Deferred income broughtforward	18,781	20,833
	Amountsreleased toincome	(18,781)	(20,833)
	Amounts received in advance	54,292	18,781
	Deferred income carried forward	54,292	18,781
			=======
	Deferredincome carried forwardcomprises:
	Amountsfalling duewithinoneyear-
	AnnualConference andothermeetingsincome receivedin advance	54,292	18,781
		=======	=======
14.	FINANCIAL INSTRUMENTS	2020	2019
		£	£
	Carrying amount offinancialassets:
	Equity instruments measured atfairvalue	2,030,308	1,782,455
		========	========

	1January			Gains on	31 December
	2020	Income	Expenditure	investments	2020
	£	£	£	£	£
Restricted income
funds:
ScholarshipFund	61,129	1,236	(398)	3,202	65,169
FoundationFund	433,569	36,094	(17,237)	58,434	510,860
	494,698	37,330	(17,635)	61,636	576,029
Unrestricted income
funds:
GeneralFund	2,922,199	715,710	(881,697)	19,814	2,776,026
	3,416,897	753,040	(899,332)	81,450	3,352,055
	`========`		-------- --------		`========`
	1January			Gains on	31 December
	2019	Income	Expenditure	investments	2019
	£	£	£	£	£
Restricted income
funds:
ScholarshipFund	61,159	6,340	(14,075)	7,705	61,129
FoundationFund	385,651	24,362	(14,925)	38,481	433,569
	446,810	30,702	(29,000)	46,186	494,698
Unrestricted income
funds:
GeneralFund	2,806,517	1,404,108	(1,442,352)	153,926	2,922,199
	3,253,327	1,434,810	(1,471,352)	.200,112	3,416,897

17.	RECONCILIATION OF NETINCOME TONET		`2020`	`2019`
	CASH FLOW FROM OPERATING ACTIVITIES		£	£
	NET (EXPENSE)/INCOMEFOR THE REPORTINGPERIOD		(64,842)	163,570
	Adjustments for:
	Depreciation charges		32,934	36,572
	Gains on investments		(81,450)	(200,112)
	Dividends, interest and rentsfrominvestments		(44,800)	(82,240)
	Decrease indebtors		50,157	207
	Increase/(decrease) increditors		82,587	(95,632)
	NET CASH USED IN OPERATING ACTIVITIES		(25,414)	(177,635)
			=======	=======
18.	ANALYSIS OF CHANGES IN NET FUNDS
		`At1`		`At31`
		January		December
		`2020`	Cashflows	`2020`
		£	£	£
	Cashat bank andinhand	368,284	(155,300)	212,984
	NET FUNDS	368,284	(155,300)	212,984
			=======