2022-12-31-accounts - European Orthodontic Society

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Group Trustees' report
Statement of	Group Trustees' responsibilities
Independent	auditor's report		10-13
Consolidated	statement offinancial	activities	14
Consolidated	balance sheet		15
Consolidated	statement ofcash flows		16
Notes to the	consolidated financial	statements	17-30

						Unrestricted	Designated	Total	Total
						funds	funds	2022	2021
					Notes	F
Income from:
Income from charitable	activities					1,007,404		1,007,404	473,531
Investment income						505	83,981	84,486	76,306
Total income						1,007,909	83,981	1,091,890	549,837
Ex enditure on:
Costs of raising funds						99,363	35,403	134,766	214,892
Charitable activities						874,535	37,011	911,546	430,574
Total expenditure						973,898	72,414	1,046,312	645,466
Net (expenditure)/income		before investment		returns		34,011	11,567	45,578	(95,629)
Net (loss)/gain on investments					13		(577,686)	(577,686)	246,895
Net (expenditure)/income		for the year				34,011	(566,119)	(532,108)	151,266
Fund balances at 1 January			2022			461,133	3,716,049	4,177,182	4,025,916
Fund balances at 31	December 2022					495,144	3,149,930	3,645,074	4,177,182

					Group	Group	Charity	Charity
				Notes	2022	2021	2022	2021f
Fixed assets
Tangible assets				14	309,859	311,557	306,578	307,182
Investment	properties			15	615,000	762,000	615,000	762,000
Investments				16	2,732,878	3,122,419	2,732,880	3,122,421
					3,657,737	4,195,976	3,654,458	4,191,603
Current assets
Debtors				18	144,955	114,588	192,596	176,984
Cash at bank and		in	hand		189,662	105,652	134,206	104,929
					334,617	220,240	326,802	281,913
Creditors:	amounts		falling due	19
within one	year				(347,280)	(239,034)	(316,438)	(236,196)
Net current	assets/(liabilities)				(12,663)	(18,794)	10,364	45,717
Net assets					3,645,074	4,177,182	3,664,822	4,237,320
Income Funds
Unrestricted	funds
Designated	funds			21	3,149,930	3,716,049	3,149,930	3,716,049
General unrestricted			funds		495,144	461,133	514,892	521,271
					3,645,074	4,177,182	3,664,822	4,237,320

						2022		2021
					Notes
Cash flows from operating			activities
Cash generated from		operations			24		40,669		(181,772)
Investing	activities
Purchase	of listed investments					(1,037,252)		(726,255)
Proceeds	on disposal	of listed		investments		996,107		799,129
Investment	income					84,486		76,306
Net cash	generated	from/	(used in)
investing	activities						43,341		149,180
Net (decrease)/increase in			cash and		cash
equivalents							84,010		(32,592)
Cash and	cash equivalents		at	beginning	ofyear		105,652		138,244
Cash and	cash equivalents			at end of	year		189,662		105,652

			2022	2021
Profit and Loss		Account
Turnover			778,531	133,512
Cost ofservice provision			(723,912)	(177,705)
Management	expenses		(14,383)	(15,947)
Interest receivable			154	3
Net Profit/(loss)		in the year	40,390	(60,137)
At 31 December		2022 the net assets and reserves of
the company	were as follows:
			Total	Total
			2022	2021
Assets and Liabilities
Fixed assets			3,281	4,375
Current liabilities			(23,026)	(64,510)
			(19,745)	(60,135)
Net Liabilities
Represented	by:
Share capital			2	2
Reserves			(19,747)	(60,137)
			(19,745)	(60,135)

	Unrestricted	Designated	Total	Total
	funds	funds	2022	2021
Rental income	351	23,027	23,378	16,197
Income from listed investments		60,954	60,954	60,030
Bank interest receivable	154		154	79
For the year ended 31 December 2022	505	83,981	84,486	76,306
For the year ended 31 December 2021	79	60,030		76,306

			Unrestricted	Designated	Total	Total
			funds	funds	2022	2021
					R
Investment	property	expenses		11,375	11,375	6,942
Publications			99,363		99,363	177,705
Investment	managers'	fees		24,028	24,028	30,245
			99,363	35,403	134,766	214,892

				Unrestricted	Designated	Total	Total
				funds	funds	2022	2021
Cost of publications				124,665		124,665	126,149
European Board of Orthodontists		exam costs					183
Executive meetings				3,293		3,293	1,801
Professional fees				3,600		3,600	3,600
Other charitable expenditure				5,379		5,379
Congress expenditure				624,549		624,549
				761,486		761,486	131,733
Grant funding ofactivities (see note			8)	9,019	37,011	46,030	108,534
Support costs (including	governance		costs (see note
9)				104,030		104,030	190,307
For the year ended 31	December		2022	874,535	37,011	911,546	430,574
For the year ended 31 December		2021		330,960	99,614		430,574

							2022	2021
							f.
	Grants to institutions:
	Research grants						33,147	96,529
	Other grants						12,883	12,005
							46,030	108,534
9	Support costs		(including	governance		costs)
							2022	2021
	Staff costs						36,009	67,814
	Depreciation						1,699	2,211
	Travel Costs						520
	Rent and rates						9,729	10,086
	Insurance						654	375
	Stationery and	printing					840	1,776
	Telephone and	postage					634	3,142
	Computer and website expenses						12,598	52,882
	Light, heat and	sundries					4,670	6,625
	Bank and credit		card charges				9,846	6,788
	Accountancy						7,500	7,900
	Repairs							1,868
	Governance costs
	Audit fees						10,700	11,528
	Legal and professional						8,631	17,312
							104,030	190,307
10	Net movement		in funds				2022	2021
	Net movement	in funds is		stated	after charging/(crediting)
	Depreciation of		owned tangible		fixed assets		1,699	2,211
	Investments revaluation						(629,428)	129,096

Number ofe	mployee	s
The average	monthly	number	ofemployees	during the year was:
					2022	2021
					Number	Number
Administration
Employment	costs				2022	2021
Wages and salaries					33,656	63,545
Social security costs					271	2,332
Training and	other costs				1,072	991
Other pension	costs				1,010	946
					36,009	67,814

				2022	2021
Revaluation	of quoted	investments		(482,428)	129,096
Disposal of	investments			51,742	110,932
Disposal of	unquoted	investments			6,867
Revaluation	of investment		property	(147,000)
				(577,686)	246,895

Tangible fixed assets
Group and Charity		Long leasehold	Computers	Fixtures, fittings &	Total
		property		equipment
Cost
At 1 January 2022		302,231	35,833	42,512	380,576
At 31 December 2022		302,231	35,833	42,512	380,576
Depreciation and impairment
At 1 January 2022			30,545	38,473	69,018
Depreciation charged	in the year		1,305	394	1,699
At 31 December 2022			31,850	38,867	70,717
Carrying amount
At 31 December 2022		302,231	3,983	3,645	309,859
At 31 December 2021		302,231	5,288	4,039	311,557
Charity		Long leasehold	Computers	Fixtures, fittings &	Total
		property		equipment
Cost
At 1 January 2022		302,231	30,000	42,512	374,743
Additions
At 31 December 2022		302,231	30,000	42,512	374,743
Depreciation and impairment
At 1 January 2022			29,087	38,473	67,560
Depreciation charged	in the year		211	394	605
At 31 December 2022			29,298	38,867	68,165
Carrying amount
At 31 December 2022		302,231	702	3,645	306,578
At 31 December 2021		302,231	913	4,039	307,182

Investment property
	2022
Carrying value
At 1 January 2022	762,000
Revaluation	(147,000)
At 31 December 2022	615,000
Historic cost
At 31 December 2022	596,839
At 31 December 2021	596,839

Fixed asset	investments
			Group	Group	Charity	Charity
			2022	2021	2022	2021
			F
Investments	in subsidiaries	17			2	2
Listed investments			2,732,878	3,122,419	2,732,878	3,122,419
			2,732,878	3,122,419	2,732,880	3,122,421

Fixed asset investments		(Continued)
Movements in fixed asset investments
		Equities, funds
		&bonds
Cost or valuation
At 1 January 2022		3,122,419
Additions		1,037,296
Valuation changes		(482,428)
Disposals		(944,409)
At 31 December 2022		2,732,878
Carrying amount
At 31 December 2022		2,732,878
At 31 December 2021		3,122,419
Investments at fair value comprise:
UK Equities and Funds		1,320,896
UK Fixed Interest Securities		563,149
Foreign Equities and Funds		848,833
		2,732,878
The historical cost ofthe investments	held at the balance sheet date was:	2,545,026

Details ofthe	charity's	subsidiaries	subsidiaries	at 31 December 2022 are	at 31 December 2022 are	as follows:
Name of undertaking		and	country	of	Nature ofbusiness		Class of	% Held
incorporation	or residency						shareholding	Direct	Indirect
EOS Trading	Company	Ltd	United		Conference management		Ordinary
			Kingdom				shares	100.00
Please see note 4 for further			details	regarding	the subsidiary	company.

Debtors			Group	Group	Charity	Charity
			2022	2021	2022	2021
Amounts falling due within		one year:			F
Trade debtors			20,098
Amounts due	from subsidiary	undertakings			178,621	163,725
Other debtors			8,149	26,152	5,097	5,097
Prepayments	and accrued income		116,708	88,436	8,878	8,162
			144,955	114,588	192,596	176,984

Creditors: am	ounts f	alling due within one	year
			Group	Group	Charity	Charity
			2022	2021f	2022 F	2021
Other taxation	and social security			1,687		1,687
Trade creditors			3,199	4,046	3,199	4,046
Other creditors			220,595	207,955	197,753	207,955
Accruals and deferred		income	123,486	25,346	115,486	22,508
			347,280	239,034	316,438	236,196

22	Analysis of net assets	betwee	n	funds
							Unrestricted	Designated	Total
							funds	funds
	Fund balances at 31 December		2022 are represented			by:
	Tangible assets						309,859		309,859
	Investment properties							615,000	615,000
	Investments							2,732,878	2,732,878
	Net current assets						185,285	(197,948)	(12,663)
							495,144	3,149,930	3,645,074
23	Related party transactions
	There were no disclosable related			party	transactions	during	the year (2021:none).
24	Cash generated from	operations						2022	2021
	(Deficit)/surpus for the	year						45,577	112,814
	Adjustments for:
	Investment income recognised		in	profit	or loss			(84,486)	(76,306)
	Gain on disposal of investments							(51,742)	(110,932)
	Fair value loss and gain on investments							629,428	(129,096)
	Other gains/(losses)								(6,867)
	Depreciation and impairment oftangible				fixed assets			1,699	2,211
	Transfer to Designated	Funds						(577,686)
	Movements in working	capital:
	(Increase)/Decrease in	debtors						(30,367)	(45,910)
	Increase/(decrease) in	creditors						108,246	72,314
	Cash generated from	operations						40,669	(181,772)