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||||Page|
|---|---|---|---|
|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|
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|||||||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|
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||||||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|
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|||||||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|
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||||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|
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##
||||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|
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||||||||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|
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|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|
##
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|14|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|
##
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|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|
|16|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|
##
##
|16|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.||||
##
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|18|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|
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|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)|