## ## |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||