2021-08-31-accounts

Contents
			Page
Reference and administrative	information
Trustees' annual report			2-8
Independent auditors' report			9-11
Statement offinancial activities			12
(incorporating an income and expenditure		account)
Balance sheet			13
Statement ofcash flows			14
Notes tothe Snancial statements			15

Trustees:		Chair	Andrew	Duguid
		Trustee	William	Allen
		Trustee	Lawrence Bergstrom			(appointed 08.10.20)
		Trustee	Rajarshi Bhattacharyya
		Trustee	Linda Gregory
		Trustee	David Marriott
		Trustee	Vicky Morgan
		Trustee	Yelena	Walters
Company	Secretary:	Yasmin D'Souza
Chief Executive:		Fiona Hamilton
Company	number:	04037209
Charity number:		1085391
Registered	office:	12,Grange Road, London, SE13BE
		www. Iso.ac.uk
Auditors:		Goldwins Limited
		75Maygrove	Road
		West Hampstead
		London NWB	2EG
		www. goldwins.	co.uk
Bankers		HSBC		Lloyds Bank	PLC
		Retail Unit 8		25 Gresham	Street
		38Canada Place		London
		Canary Wharf		EC2V 7HN
		London
		E145AH

Reporting pe	rformance	rformance
Inputs	Activities		Outputs	Outcomes	Impact
+ Design of	4 Delivery of		+Professiona	t Acquisition of	+ Personal and
the MOst I	the MOst	I	I &vocational	knowledge and skills,	professional
BOst	BOst		training.	participation in	development.
pathways.	pathways.		1 Patients	research, and transition	+ Graduates	join
	+ Outpatient		seen at the	to autonomous	GOsC and
	teaching	clinic.	teaching	osteopathic practice.	contribute to
			clinic.	+ Improved patient	healthcare in	their
				health; education	locality.
				regarding posture,	+ Patient access to
				exercise, lifestyle etc.	osteopathic
					healthcare.
Course completions: Classifications awarded
MOst	Distinction		Merit	Pass
	I (1496)		3 (43%)	3 (43%)
BOst	First	Upper second		Lower second Third
			4 (36%)	6 (55%)	1 (9%)

Constitution ofSMT
Position	Name
Principal	Ms Fiona Hamilton
Registrar	Mrs Yasmin D'Souza
Finance Manager	Mr Nigel Martin
Course Leader	Dr Maria Fitzgerald	(PhD)
Director ofClinical Studies	Dr Lucy MacKay-Tumber		(EdD)

Statement offinan Forthe ar ended	c	ial activ 31 Au	ities (inco ust 2021	rporating an in	come	and expenditure	account)
							2021	2020
						Unrestricted
						Fund	TotalFund	Total Fund
					Note	E	E	f
Income from:
Charitable activities
Education, training		and professional		development		1,095,4II	1,095,411	997,751
Investments						20	20	348
Other						14,391	14,391	I5,800
Total income						1,109,822	1,109,822	1,013,899
Expenditure on:
Charitable activities
Education, training Other		and professional		development		1,029,211	1,029,211	988,947
Total expenditure						1,029,211	1,029,211	988,947
Net income / (expenditure)			for the year		7	80,611	80,611	24,952
Transfers between	funds
Net income / (expenditure)			before other recognised
gains and losses						80,611	80,611	24,952
Net movement in funds						80,611	80,611	24,952
Reconciliation offunds:
Total funds brought		forward				892,923	892,923	867,971
Total funds carried		forward				973,534	973,534	892,923

As at 31 Au ust 2	021
			Note		2021f		2020 f
Fixed assets:
Tangible assets			12		1,336,267		1,367,697
					1,336,267		1,367,697
Current assets:
Debtors			13	28,843		64,715
Cash at bank and in hand				256,264		168,208
				285,107		232,923
Uabilities:
Creditors: amounts	falling	due within one year	14	135,152		126,491
Net current assets	/ (Babilities)				149,955		106,432
Total assets less current		liabilities			1,486,222		1,474,129
Creditors: amounts	falling	due after one year	16		(512,688)		(581,206)
Total net assets /	(liabilities)				973,534		892,923
The funds ofthe charity:
Restricted income funds
Unrestricted income funds:
Fixed assets fund Building development		fund		803,570 40,000		763,802 40,000
General funds				129,964		89,121
Total unrestricted	funds				973,534		892,923
Total charity funds					973,534		892,923

For the ended 31 Au	ust 2021
				Note	2021 f		2020 f
Cash flows from operating	activities			20
Net cash provided by / (used in) operating			activities			162,923		3 'I,016
Cash flows from investing	activities:
Purchase offixed assets					(2,098)		(6,925)
Net cash provided by / (used in) investing			activities			(2,098)		(6,925)
Cash flows from financing	activities:
Repayments of borrowing					(72,770)		(73,947)
Cash inflows from new borrowing							50,000
Net cash provided by / (used in) financing			activities			(72,770)		(23,947)
Change in cash and cash	equivalents	in the year				88,055		144
Cash and cash equivalents	at the beginning		ofthe
year						168.209		168,064
Cash and cash equivalents	at the end	ofthe year		21		256,264		168,209

Detailed comparatives	for	the stateme	nt offinancial activities
						2020
				Unrestricted	Restricted	Total
				f	f	f
Income from:
Charitable activities
-Education, training Investments	and professional		development	997,751 348		997,751 348
Other				I5,800		I5,800
Tobd income				1,013,899		1,013,899
Expenditure on:
Charitable activities
-Education, training	and professional		development	988,947		988,947
Total expenditure				988,947		988.947
Net Income / expenditure		before gains / (losses) on Investments		24,952		24,952
Net gains / (losses) on investments
Net income / expenditure				24,952		24,952
Transfers between funds
Net movement In funds				24.952		24,952
Total funds brought	forward			867,971		807,971
Total funds carried forward				892,923		892,923

					2021	2020
			Unrestricted f	Restrictedf	Total E	Totalf
Education, training and professional Funding from Ofhce for Students		development	88,580		88,580	85,459
Student fees			921,785		921,785	794„620
CPU, access	courses and other fees		373		373	1,773
Room hire			1,845		1,845	6,860
Outpatients	clinic income		82,828		82,828	109,039
Total income	from charitable activities		1,095,411		1,095,411	997,751

					2021	2020
			Unrestrictedf	Restrictedf	Total E	Total
Investment	income		20		20	348
			20		20	348
Other income
					2021	2020
			Unrestricted	Restrictedf	Totalf	Totalf
Tower Hamlets-Covid		support grant	5,000		5,000
JRS Grant			9,391		9,391	15,800
			14,391		14,391	15,800

5	Investment income Other income

This is st	ated after char	ging / cred	iting:
				202 '1	2020
				f	E
Depreciation				33,528	34,896
Operating	lease rentals:
Property				32,440	30,000
Auditors'	remuneration	(excluding	VAT):
Audit				4,000	4,000

			2021	2020
				f
Salaries and wages			538,306	525,489
Social security costs			29,376	27,653
Employer's contribution	to defined	pension schemes	8,699	9,076
Freelance staff costs			18,232	35,603
Staff training			200
			594,813	597,821

(head coun	t based	on n	umber ofstaff employed) during the ye	ar was as follows:
				2021	2020
				No.	No.
Education,	training	and	professional	30.0	30.0
Outpatients	clinic			4.0	5.0
Support				13.0	12.0
				47.0	47.0

	Freehold	Leasehold	Medical	Office
	Property f	Costsf	Equipment E	Equipment E	Total E
Cost
At the start ofthe year Additions in year	1,455,182	151,526	25,961	150,005 2,098	1,782,674 2,098
Disposals in year
At the end ofthe year	1,455,182	151,526	25,961	152,103	1,784,772
Depredation At the start ofthe year Charge for the year	133,407 15,877	112,304 15,150	25,961	143,305 2,501	414,977 33,528
Eliminated on disposal
At the end ofthe year	149,284	127,454	25,961	145,806	448,505
Net book value At the end ofthe year	1,305,898	24,072		6,297	~6467
At the start ofthe year	1,321,775	39,222		6,700	1,367,697

Creditors: amoun	ts falling	due within one year
					2021 f.	2020f
Mortgage repayable in one year (see Note 17)					58,879	56,507
Bank loans					9,559	16,183
Trade creditors					13,102	26,909
Overpaid by Anglia Ruskin University					45,122	12,712
Student fees due	by Anglia Ruskin University				(50,318)	(49,404)
Other creditors					1,868	2,642
Accruals					34,373	19,791
Deferred income					22,567	41,151
					135,152	126,491
Deferred income
Deferred income	comprises	student fees received	in advance off22,567 (2020:f41,151).
					2021f	2020f
Balance at the beginning of		the year			41,151	49,887
Amount released	to income	in the year			(41,151)	(49,887)
Amount deferred	in the year				22,567	41,151
.Balance at the end ofthe year					22,567	41,151
Creditors: amounts falling due after one year
					2021 f	2Q20 f
Mortgage (see below)					524,103	582,981
Mortgage related	costs				(50,285)	(51,775)
Bank loans					38,870	50,000
					512,688	581,206
The freehold property was part financed by a mortgage balance outstanding at the year end off582,982) has				repayable over I 5 years. The fixed mortgage interest charged at 3.69%p.a.which is subject		(with to
renegotiation in the future.
					2021 f	2Q20
The outstanding	balance at the year end was repayable			as follows:
In more than	five years				265,892	334,073
Between two and five years					258211	248988
Total due after one year					524,103	582,981
Less than one	year				58 879	58 587
Total					582,982	639,488

Analysis ofnet as	sets	between fund	s
				General
				unrestricted f	Designated f	Restricted f	Total fundsf
Tangible fixed assets				532,697	803,570		1,336,267
Net current assets				109,955	40,000		149,955
Long term liabilities				(512,688)			(512,688)
Net assets at the	end	ofthe year		129,964	843,570		973,534
Movements In funds
				Incoming	Outgoing
			At the start	resources &	resources &		At the end
			ofthe year f	gains f	losses f	Transfers f	ofthe year f
Unrestricted funds:
Designated funds: Fixed assets fund			763,802		(33,528)	73,296	~3,570
Building development		fund	40„000				40,000
Total designated	funds		803,802		(33,528)	73,296	843,570
General funds			89,121	I ~109,822	(995,683)	(73,296)	129,964
Total unrestricted	funds		892,923	1,109,822	(1,029,211)		973,534
Totallunds			892,923	1,109,822	(1,029,211)		973,534

									2021	2020
									6	f
Net income / (expenditure)			for the reporting			period			80,611	24,952
(as per the statement ofRnanclal				activities)
Depreciation charges									33,528	34,&96
(Increase)/decrease		in debtors							35,872	(24,006)
Increase/(decrease)		in creditors							12,912	(4,826)
Net cash provided	by / (used In)			operating	activities				162,923	31,016
Analysis ofcash and		cash	equivalents
							At I			At 31
							September		Other	August
							2020	Cash flows	changes	2021
								f	f	5
Cash in hand							I68,208	88,056		256,264
Total cash and cash		equivalents					168,20&	88,056		256,264

expir	ing in April 2023 are as follows:
		Leasehold	Property
		2021	2020
			6
Less	than one year	36,500	30,000
One	to five years	22,&)3	48,750
		59,313	78,750

(a)Analysis ofnet assets between funds (2	020)
	General
	unrestricted f	Designatedf	Restricted f	Total funds 5
Tangible fixed assets	603,896	763,802		1,367,697
Net current assets	66,432	40,000		106,432
Long term liabilities	(581,206)			(581,206)
Net assets at the end ofthe year	89,121	803,802		892,923

						Incoming	Outgoing
				At	the start	resources &	resources &		At	the end
				ofthe year f		gains f	losses E	Transfers	of	the year
Unrestricted	funds:
Designated	funds:
Fixed assets	fund				717,825		(34,895)	80,872		763,802
Building development			fund		40,000					40,000
Total designated		funds			757,825		(34,895)	80,872	803,802
General funds					110,146	1,013,899	(954,052)	(80,872)		89,121
Total unrestricted		funds		867,971		1,013,899	(988,947)		892,923
Total funds				867,971		1,013,899	(988,947)		892,923