2021-12-31-accounts - European Orthodontic Society

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Trustees				Professor	D Bister
				Professor	F McDonald
				Professor	C Lespos
				Professor	BKahl-Nicks
				Professor	0 Sorel
				Professor VVandeveska-Radunovic
				Professor	D Halazonetis
				Professor	P Crismani
				Dr D DeFranco
				Dr M Disse		(Appointed	12July 2021)
				Dr L Barreto		(Appointed	8 June 2022)
				Professor YRen		(Appointed	8 June 2022)
				Professor TEhades		(Appointed	8 June 2022)
				Professor	M Cozzani	(Appointed	8 June 2022)
				professor	P Fudalel
				Dr F E Geoghegan
				Professor	G Wigems
Secretary				Professor	D Bister
Charity	number			1095190
Company		number		04539916
Registered			office	Flat 20
				49 Hagam	Street
				London
				IV1W 6JN
Independent			auditors	Gerald Edelman LLP
				73 Comhill
				London
				EC3V 3QQ
Bankers				Santander	UK Pic
				2 Triton Square
				Regents Place
				London
				NW1 3AN
Investment			advisors	J M. Finn	6 Co
				4 Coleman	Street
				London
				EC2R 5TA

				Page
Trustees' report				1-9
Statement of	Trustees'	responsrbrtrhes		to
Independent	auditor's	report		11-14
Consohdated	statement of finanaal		activities	15
Consolidated	balance	sheet
Consohdated	statement ofcash flows			17
Notes to the	frnanoat	statements		t8 - 33

					Unrestricted	Designated	Total	Total
					funds	funds	2021	2020
				Notes	6	6	6	f
Income from:
Income from chantable	activibes				340,020		340,020	343,675
Other trading ectwiues					133,511		133,511
Investment income						76,306	76,306	75,004
Total income					473,531	76,306	549,837	418,679
Costs of raising funds					177,705	37,187	214,892	39,148
Charuable acbvrbes					330,963	99,614	430,574	345,877
Total expenditure					508,665	136,801	645,466	385,025
Net Income/(expenditure)		before Investment	returns		(35,134)	(60,495)	(95,629)	33,654
Net gain on investments				14	6,867	240,028	246,895	198,982
Net (expenditure)/Income		before transfers			(28,267)	179,533	151,266	232,636
Gross transfers between		funds		24	150,0M	(150,000)
Net income/(expenditure)		for the year			121,733	29,533	151,266	232,636
Fund balances at 1 January 2021					339,4M	3,686,516	4,025,916	3,793,280
Fund balances at 31 December 2021					461,133	3,716,049	4,177,182	4,025,916

					Group	Group	Charity	Charity
					2021	2020	2021	2020
				Notes	6	8
Fixed assets
tangible assets				15	311,557	307,936	307,182	307,936
Investment	properses			16	762,000	762,000	762,000	762,000
Investments				17	3,122,419	2,976,397	3,122,421	2,976,397
					4,195,976	4,046,333	4,191,603	4,046,333
Current assets
Debtors				19	114,588	68,678	176,984	68,678
Investments				20	3,424	27,593	3,424	27,593
Cash at bank and		in	hand		102,228	88,484	101,505	88,484
					220,240	184,755	281,913	184,755
Creditors:	amounts		falling due within	21
one year					(239,034)	(205,172)	(236,196)	(205,172)
Net current	assets/(fiabllltles)				(18,794)	(20,417)	45,717	(20,417)
Net assets					4,177,182	4,025,916	4,237,320	4,025,916
Income funds
Unrestricted	funds
Designated	funds			23	3,716,049	3,686,516	3,716,049	3,686,516
General unrestncted			funds		461,133	339,400	521,271	339,400
					4,177,182	4,025,916	4,237,320	4,025,916

						2021		2020
					Notes	8		6
Cash flows from operating			actMtles
Cash generated from		operations			26		(181,772)		(195,477)
Investing	activities
Purchase	of listed investments					(726,255)		(392,398)
Proceeds	on disposal	of listed		investments		799,129		397,430
Investment	income					76,306		75,004
Net cash	generated	from/	(used in) investing
activities							149,180		80,036
Net (decrease)/Increase In			cash and		cash equivalents
							(32,592)		(115,441)
Cash and	cash equivalents		at	beginning	ofyear		138,244		253,685
Cash and	cash equivalents			at end of	year		105,652		138,244

					2021	2020
	Profit and Loss Account
	Turnover				133,512
	Cost ofservice provision				(177,705)
	Management	expenses			(15,947)
	Interest receivable				3
	Net lass in the year				(60,137)
	At 31December 2021		the net assets and reserves ofthe
	company were as follows:
					Total	Total
					2021	2020
					6	p.
	Assets and Liabilities
	fixed assets				4,375
	Current habiliues				(64,510)
					(60,135)
	Net Uablfitles
	Represented	by
	Share capital				2
	Reserves				(60,137)
					(60,135)
5	Other trading	activities			2021	2020
					E	E
	Non charitable	trading	achwty	via
	subsidiary				133,511

	2021	2020
	f	f
Rental income	16,197	14,414
Income from hated investments	60,030	60,589
Bank interest receivable	79	1
For the year ended 31 December 2021	76,306	75,004
For the year ended 31 December 2020		75,004

						Unrestricted	Designated	Total	Total
						funds	funds	2021	2020
							6	6	6
Advertising									467
Investment	property expenses						6,942	6,942	5,608
Fundraising	and		publicity					6,942	6,075
T~radm costs
Operahng	trading		company		undertaking
non-charitable		trading		activity
						177,705		177,705
Investment	managers'			fees			30,245	30,245	33,073
						177,705	37,187	214,892	39,148

					Unrestricted	Designated	Tote I	Total
					funds	funds	2021	2020
						6	F.	E
Cost of pubhcations					126,149		126,149	124,422
European Board of Orthodontists			exam costs		183		183	825
Execubve meebngs					1,801		1,801	4,457
Professional	fees				3,600		3,600	3,600
					131,733		131,733	133,304
Grant funding	ofactivities (see note			9)	8,920	99,614	108,534	61,622
Support costs (induding		governance		costs (see note 10)
					190,307		190,307	150,951
For the year	ended 31	December		2021	330,960	99,814	430,574	345,877
For the year	ended 31 December		2020		284,255	61,622		345,877

9	Grants payable
							2021		2020
									f
	Grants to institutions
	Research grants						96,529		56,914
	Other grants						12,005		4,708
							108,534		61,622
							108,534		61,622
10	Support costs	(Including		governance		costs)
								2021	2020
								f	6
	Staff costs							67,814	67,051
	Depremabon							2,211	904
	Coundl meebngs								2,799
	Rent and rates							10,086	10,719
	Insurance							375	898
	StaUonery and	pnnUng						1,776	398
	Telephone and	postage						3,142	16,144
	Computer and website expenses							52,882	8,331
	Light, heat and	sundnes						6,625	4,645
	Bank and credit	card charges						6,788	5,400
	Accountancy							7,900	5,946
	Repairs							1,868
	Governance costs
	Audit fees							11,528	12,853
	Legal and professional							17,312	14,863
								190,307	150,951
11	Net movement	In funds						2021	2020
								f	f
	Net movement	in funds	is	stated	after charging/(crediting)
	Depreciation of	owned tangible			fixed assets			2,211	904
	Investments revaluabon							129,096	299,136
12	Trustees

Employment costs	2021	2020
	6	6
Wages and salanas	63,545	63,714
Social secunty costs	2,332	2,395
Training and other costs	991
Other pension costs	946
	67,814	67,051

		Unrestricted	Unrestricted	Total	Total
		funds	funds	2021	2020
		designated
		6	6
Revaluabon of investments			129,096	129,096	299,136
Disposal of investments			110,932	110,932	(26,313)
Disposal of unquoted	investments	6,867		6,867	(73.841)
		6,867	240,028	246,895	198,982
For the year ended	31
December2020		(73,841)	272,823		198,982

Tangibie fixed assets
Group and Charity		Long leasehold property	ComputsrsFlxtures, fittings 6 eaulpment
Cost
At 1 January 2021		302,231	30,000	42,512	374,743
Additions			5,832		5,832
At 31 December 2021		302,231	35,832	42,512	380,575
Depreciation and impairment
At 1 January 2021			28,782	38,025	66,807
Depreaabon charged	in the year		1,763		2,211
At 31 December 2021			30,545	38,473	69,018
Carrying amount
At 31 December 2021		302,231	5,287	4,039	311,557
At 31 December 2020		302,231	1,218	4,487	307,936
Charity		Long leasehold	ComputereFlxturee,	fittings	Total
		property	lt eauipment
Cost
At 1 January 2021		302,231	30,000	42,512	374,743
Additions
At 31 December 2021		302,231	30,000	42,512	374,743
Depreciation and impairment
At 1 January 2021			28,782	38,025	66,807
Depreciation charged	in the year		305	448	753
At 31 December 2021			29,087	38,473	67,560
Carrying amount
At 31 December 2021		302,231	913	4,039	307,183
At 31 December 2020		302,231	1,218	4,487	307,936

Fixed asset investments
		Group	Group	Charity	Chanty
		2021	2020	2021	2020
			5	5	5
Investments in subsidianes	18			2
Listed investments		3,122,419	2,976,397	3,122,419	2,976,397
		3,122,419	2,976,397	3,122,421	2,976,397
Movements m fixed asset investments
				Equkles,	funds &
					bonds
					5
Cost or valuation
At I January 2021					2,976,397
Additions					726,255
Valuation changes					129,096
Cash transfer					(22,232)
Disposals					(687,097)
At 31 December 2021					3,122,419
Carrying amount
At 31 December 2021					3,122,419
At 31 December 2020					2,976,397
Investments at fair value comprise;
UK Equtbes and Funds					1,569,481
UK Fixed Interest Secunbas					778,054
Foreign Equities and Funds					774,884
					3,122,419
The histoncal cost ofthe investments		held at the balance sheet date was			2,452,455

Details of the	chanty's	subsdienes	subsdienes	et 31 December 2021 ere es follows	et 31 December 2021 ere es follows	et 31 December 2021 ere es follows	et 31 December 2021 ere es follows
Name ofundertaking		and	country	of		Nature ofbusiness		Class of		% Held
Incorporation	or residency							shareholdlng		Direct	Indirect
SOS Trading	Company	Ltd	United kingdom			Conference	management	Ordinary	shares
										10000
Please see note 4 for further			details	regarding	the subsidiary		company.

19	Debtors				Group	Group	Charity	Charity
					2021	2020	2021	2020
	Amounts	faglng due within		one year;	6		6	6
	Amounts	due	from subsidiaiy	undertakings			163,725
	Other debtors				26,152	5,670	5,097	5,670
	Prepayments		and accrued mcome		88,436	63,008	8,162	63,008
					114,588	68,678	176,984	68,678
20	Current	asset investments
	Group and charity						2021	2020
							6	6
	Cash deposits						3,424	27,593

Creditors: am	ounts f	aglng due within one yea	r
			Group	Group	Chadty	Chadty
			2021	2020	2021	2020
			6	6	E	6
Other taxation	and somal secunty		1,687	1,810	1,687	1,810
Trade creditors			4,046	2,025	4,046	2,025
Other creditors			207,955	184,576	207,955	184,576
Accruals and deferred		incorse	25,346	16,761	22,509	16,761
			239,034	205,172	236,167	205,172

						Movement	In funds
				Balance at 1	Incoming	Resources	Transfers	investments		Balance at 31
				January 2021	resources	expended 6	6	gains/(losses)		December 2021 f
Houston	Memonal
				716,974	11,868	(7,442)			55,606
Development			and
Research				2,350,734	54,215	(120,038)	(150,000)		146,555	2,281,466
Awards	and
Distinction				593,796	9,400	(9,321)			35,707	629,582
Francesca		Miotti
Fund				25,012	823				2,160	27,995
				3,686,516	76,306	(136,801)	(150,000)		240,028	3,716,049

Analysis o	f ne	t assets between funds
				Unrestricted	Designated	Total
				funds	funds
				6	f
Fund balances		at 31 December 2021 are represented	by
Tangible assets				311,557		311,557
Investment	properties				762,000	762,000
Investments				150,000	2,972,419	3,122,419
Net current	assets			(424)	(18,370)	(18,794)
				461,133	3,716,049	4,177,182

25	Related party transactions	Related party transactions
	There were no disclosable related		party	transactions	during	the year (2020: none).
26	Cash generated from	operations					2021	2020
							6	f
	Surplus for the year						112,814	232,636
	Ad)ustments for
	Investment incorse recognised in		profit	or loss			(76,306)	(75,004)
	(Gain)/loss on disposal	of investments					(110,932)	26,313
	Fair value loss and gain on investments						(129,096)	(299,136)
	Other gains/(losses)						(6,867)
	Depreaahon and impairment of tangible			fixed assets			2,211
	Movements in working	capital:
	(Increase)/Decrease in	debtors					(45,910)	(55,023)
	Increase/(decrease) in	credfiors					72,314	(26,167)
	Cash generated from	operations					(181,772)	(195,477)