Charfty reglstrdtlon number 1098009 (England and Walesl CharSty reglstratlon number S¢039915 (Scotlandl Company registration number 45771S2 (England and Wale81 Alexander Sloan AGLudl',La,I14Q Lil Id Business Advisers ACTACC ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
ACTACC LEGAL AND ADMINISTRATIVE INFORMATION Directors KMBill N O'Keeffe J E Arrowsmrfh G Kunst M Steven S Agarwal AAhmed C Wdlker C A 8oynton (Appointed 1 March 20221 (Appointed 1 March 20221 Charlty number (England and Wal••l 1098CKJ9 Chorlty numbgr Iscotlandl SC039915 Company numb•r 4577152 R•g18t•r•d offlc• 35 Red Lion Square London WC1R 4SG Independent •xamlner David Jeffco8t. FCCA exander Sloan A¢¢ountsnis and Bu$ines$Advi8ers 180 Sl vIrent stet Glas9OW G2 5SG 8ank?rB Royal Bank of S8nd plc 24 Douglas Street Milng8vie Glasgow G2 6HJ Sanlander Briijle Road Boolle Merseyswje L30 4GB Website addre#s www.actsw.org
ACTACC CONTENTS Page Directors. report Independent examiners report Statement of financjal activities Balance sheet Notes lo the fin8n¢ial stslemenls 8-16
ACTACC DIRECTORS, REPORT FOR THE YEAR ENDED 31 DECEAIBER 2022 The Directors present their report and finanaal statements for the year ended 31 December 2022. The finanaal statements have been prepared in accordance with the accounbng poliaes set out in note 1 to the financial statement5 and compty with the charis Memorandum and Arbcles ofAssociation. the Companies Act 2006. the Charities Aot 2011. the Chanties and Tnjstee Investment Iscouandl Aci 2005. the Charities Ao¢ounts Iscouandl Regulats'ons 2006 las amended) and 'Accounting and Repotting by Charities". Statetnent of Recommended Practice applicable to chanties prepanng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accounting periods commencing from 1 January 20191. Objectives and activitieB The principal activity of the charity is the advancement of education and Search in the fields of cardiac or thoraac anaeslhesia. The Associats'on for Cardiolhoracic Anaesthesia and CntKal Care aim8 to advance education in the field of cardiothoracic anaesthesia and cntical care by org8ni5ing meeting5 aimed at Consultants and Doctors in training. The meetings comprise of 18¢tures by experts. pra¢b"¢al dèmon$tration$ and papers of resear¢hers in this field. The meelin9s have been devekjping ovèr fecenl years Irom a one-day meeting in Spring and Autumn into vo or three day meetings with salellrte meetings sometimes focussed on related areas of interest such as transoesophageal echocardiography. intensive care or thoracic anaesthesia. Some of these meetings have been joint meetings with other specialist societses such as the Inlenswe Care Society. the British Society of aernatology. the Society of Cardiolhoracic Surgeons or. as in 2018. the European Swety for Cardiothoracic Anae8lhesiology and Intensive Care IEACTAIC). Research In the field ol cardiac and thoradc anaesthesia Is promoted in various ways a$ outllned below In the Grant Making Policy. Free papers are requested and presenled 89 Posters and verbal presentstions al most ACTACC meetings. The Hargadon Memorial prize is awarded for the besl oral Psentation a¢ the free papers and has recently been increased to £200 with a prize of £100 for the second placed paper and similar prizes for the best poster presenlalions. Grant maklng pollcy ACTACC normally funds an annual award up to a limit of £15.OCM). which is assessed through the National Institute of Academic Anaesthesia INIAAI. No grants were made in 2019. In 2020 the grant round was cancelled due lo the COVID-19 p8ndemic. In 2021. 8 lotsl amounl ol £75.IJOO was ma(Je available for a joint grant with th8 British Journal of Anaesthesia IBJAI and Ihe Vascular So¢iety of Great Bwrtain and Ireland (VASGBII. wrth ea¢h partner offering £25,000. However, there was no surtable grant application and the joint BJAJVASGBIIACTACC grant was not awarded in 2021. Discussions with Dr Dan Taylor (President of the Vascular Anaesthesia Society of Great Britain. VASGBII resulted in an agreement thal each paty will provide £35.000 lo malch £35,000 from ACTACC re5utting in a lump surn of £70,000 lor the grant round in September 2022 and in this NIAA round a giant of £68,426 was 8W8ided to Dr Ronelle Mouton foi a qualitati¥e smoking cèssth.on study %lh the b"Ue". PèRiOJ)erative Tobacco-cEssation in patients undergoing vascular or CardioThOrauc SUR ery IPROTECTORI Study with £34,213 to be funded by ACTACC for its start of the study in May 2023. ACTACC also funds a Travelling Fellowships for Irainees and newly appointed consultants in the form of the Bill Pallisler Travelling Fellowship Award (Restricted Fund). This Fell¢)wship was nol awarded in 2020 8nd 2021 and the was One applicatron in 2022, which was supptsrted unanitnousty by the ACTACC commrttee." A Clinical Observership by Dr Thomas Keast to the DivisK)n of Applied Haemodynamics at the Yale School of Medicine, USA, from 3 October 2022. An awar¢J of £1,677 for travelling costs was transferred to the reapient in March 2023.
ACTACC DIRECTORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 Achlevom•nts and p•rfomiane• ACTACC continues to have stable membership numbers. It is growing in diversity. and increasing emphasis has been put on tnaking sure the views and issues of suwroups within the cafdiothoracic anaesthetic community are represented, particularly themes related to (xrdiothoiaac training and also bultying and harassment in cardiothoracic surgery. More Centty the views of our cardiac surgical colleagues and SCTS have been represented. However, due to the Covid-19 pandemic during 2020 and 2021. the charity's activities were forced to be paused and much less acts'vity than usual took place. There were no new elections of ACTACC board members in 2022. OT Joe ArTowsmith. Director. who wa$ appointed as the President ol ACTACC at the charty's AGM in Glasgow on 19 November 2021 remains the President. The annual scientific meeting took place as a very sucLessful tsc£-tO-face Conference in Lwerpool on 9th and 1 Oth June 2022. A joint mesting was planned wth SCTS in Novèmber 2022, bul il had lo btr ¢anc8lled and po$lptsn8d until 5th November 2023, due to a train strike. The next annual scienb.fic meetings will take place in June 2023 in Cambridge, Cardiff 2024, Leicester 2025 and London 2026. Flnanclal revl¢w Per the Statement of Financial Activities on page S. Ihe charity reported Net lThcome li.e. a Surplus) for the year 01 £12.41312021 Surplus £16.8011 and loial funds at 310ecember 2022 01 £281,558 01 which £208,156174Qkl were Unrestricted. R•s¢rn¢$ poll¢y It Is the policy ol the charity lo maintain Unreslncted Funds al a le¥el that equates to approximately six months of unrestricted expendrture. At 31 December 2022. Ihe charty's free reserves per Unrestricted Funds on page 5 amounted to £208.158. Atthough above the required level. the reserves were acceptable to the Directors in view ol the possibility of (he charity having (o underwrite defic¢ts Irom fvlure Meetings. RIBk rnanagement Th& Dir8¢tor5 has a$s¥ssed Ihtr mojor risks lo whi¢h Ihtr charity 1$ exposed, in pa'cUlar tho$& related lo th* oper8lion$ and future of th& ¢h8rrty and a $alisfi¢<l that $y$tems ar& in pl8¢& to mib'g8t¥ expo$ure to Ihg major rlsks. Structure, governance and management Thè Association ol Cardiothoracic Anae51hètists llhe ¢haiity"l is 8 ¢4mp8ny limited by guarantee INO. 45771521 govèmed by its Memorandum and Articles ol Association. Thè charity is an English registèred eharity (No. 10980091 and also a recognised Scottish Chanty INO. SC0399151. The Directors who served during the year and up lo the date of signalure of the finanaal statements were.. KM Bill S Gardner N O'Keeffe J E Ariowsmith G Kunst M Steven S Agarwal AAhmed C Walker C A Boynton (Resigned 1 June 2022} (Appointed 1 March 20221 (Appointed 1 March 20221
ACTACC DIRECTORS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 Appolntm•nt of Dlr•etors Directors of ACTACC are appointed for an initial tern of three years. renewable for a further three years. They may only serve consecutive terms. Appointment is by nomination from within the membership of ACTACC and, rf necessary. by postal ballot. The Direclors agree among themsefves regarding their various roles. New Directors take part in an induction piogramrne, which aims to fatniliarise thetn wth the charity's values, aims and obiectsves together with bts day-l(daY operations, in addition to darifying their statutory responsibilities as Directors ol a company limited by guarantee and as Trustees of a charity. Organlsatlonal structure The Directors are responsible for the direclion ant1 administration of the charrty and seThe on a voluntary basls. COVIO-19 As indicated on page 2. Covid-19 in 2021 invofved a rescheduling of various planned events. By the dale on which the financial statements were approved, the UK had lifted the restrictions enfOrd by thè Covid-19 pandemic. The Directors look forward lo a suttessfvl tesumptiort ol pL4nned meeb.ngs and events. Publle B•n•fit Stat•m•nt The Directors confirm that they have compiled with their duty to have due regard to the gumlance on public benefit published by the Charity ComMissn in exerasing their duty and powers. Independ?nt examlner The Directors recommend th81 David Jeff81. FCCA, 8 Partner in Alexander Sloan, A¢¢ountsnls and 8usine8s Advisers, remains in offic• as indepèndent examiner unb"I further noti¢e. The Dlr8Ctors' Report was approved by Ihe Board of Oir8Ctors. J E Arrowsmlth Directo Dated.. $181202 3
ACTACC INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF ACTACC I report to the Directors on my examination of the finanaal statements of ACTACC for the year ended 31 December 2022. Responsibilities and basis of report As the Directors of the charity land also rtg Trvstees for the purposes of company lawl, you are spOnSible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotlandl Act 2005 Ilhe 2005 Act). the Charities Accounts Iscollandl Regulations 2006 las amended), the Companies Ac¢ 2006 (the 2(K)6 Acll and the Charibes Act 2011. You are satisfied that the financial stslement5 of the Charity are not required by ch81ity or company law to be audrted 8nd have chosen instead to have an ind8pendent examination. Having satisfied mysew that financtal statements of charity are not required to be audited under Part 16 of the 2006 Act and are eligible lor independent examinabon. I report In respect of my examination of charrty's financial statements carried out under section 44 111 I cl of Ihe 2005 Act and section 145 01 the Charrties Act 2011 (the 2011 Act). In carrying out my examination. I have followed the quIreMentS of Regulation 11 of the Charities Accounts IScoY8ndl Regulalions 2006 las amended) and all the applicable Directions given by the Charity Commission undèr se¢tion 14515llbl ol the 2011 A¢t. Ind•p•nd•nt examIn•8 statèment Since the charity is required by cornpany law lo prepare its accounts on an accruals basis and is registered as a charity in S¢olland, your ex8min&r musl b& 8 member of a body listed in Regulation 11121 of Ihts Charities Accounts (Scotlandl R6gulation$ 2Q la$ amènded). l ¢onfim thal l am qualth¢d lo undertakè th¥ èxamin81ion b8cau$è l am a membef QIACCA, which is one of lh& listed bodie$. I have completed my examination. I conffirn that no matters have come to my attention in connection with the examination giving me cause to believe thal in any material respect.. accounting records wère not kept in rasped ol thè Charity a$ requi by $e¢tion 386 of the 2006 A¢¢ and Regulation 4 of the 2006 Accounts Regulations.. or the finan¢i81 statements do not accord wrth Ihose records.. or the financial stalemenls do not compty wlh Ihe accounbng quirementS of Regulation 8 of the Charities Accounts (Scotlandl Regulations 20(6 las amended) and do not comply with the accounting requirernenls of section 396 01 the 20( Act other than any requiremenl Ihat the accounts give a true and fair view which 1$ not a matter considered 8$ part of an independent ex8min8tion,' or the financial slatements have not been prepareij in accordance with the methods and principles of the Statement ol Recomrnended Prac¢ice for accounling and reporting by charities applicable to charities preparing Iheir accounts in accordance wrth the Finanryal Reporting Slandard applible in the UK and Republic ol Ireland IFRS 1021. I have no concems and have com& auoss no other mattets In conneth.on lh& èxamination to which attention should be drawn in this port in order to enable a proper undetstanding of the financial statements to be reached. David JÈffcoat, FCCA Alexander Sloan Accountants and Business Adwsers 180 St Vincent Street Glasgow G2 5SG Dated". 14/8/2023
ACTACC STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Current financial year Unrestrlcted Restrlcted Endowment fvnd$ fund¥ funds 2022 2022 2022 Total Total 2022 2021 Notès Income from.. Donations and legacies Income from charitable activities Investments 22,115 55.414 22,115 55.414 905 19,020 82,250 58 Total income 78.434 78.434 101,328 Cost ol charitable activities 86.021 66,021 84,527 N•1 In¢om* lor the y••r 12.413 12.413 16,801 Fund balances at 1 January 2022 19S.743 70,785 2,817 269,14S 2S2,344 Fund balanc•8 at 31 Dec•mber 2022 208.156 70.785 2,617 281.558 289,145 The statement of finandal activities indudes all gains and losses CogniSed in the year. l income and expenditure derive from continuing activrfies. The s18lemenl of fin3nts81 a1Ville$ also Comp&5 wth the requirements for an InM& and expenditure a¢¢tsunl under th& Companies Ad 20(. The notes on pages 8 to 16 fomi an integral part of Ih&se finanual statements.
ACTACC STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Prior financial year unrestCted Restsleted Endowment fund$ fund¥ fund¥ 2021 2021 2021 Total 2021 Notss Income from.. Donations and legacies Income from charitable activities Investments 19,020 76,250 19,020 82,250 58 Total income 95.328 101.328 Cost ol charitable activities 78,527 84,527 N•t Incom•ll•xpendltur•l for th• y•ar 16,801 16,801 Fund balances at 1 January 2021 178.942 70.785 2,617 252.344 Fund balncei at 31 ¢ember 2021 195,743 70,785 2,617 269,145 The slalemenl of financial activities indudes all gains and losses CogniSed in the year. l InMe and expenditure derive from n1uln9 adivities. Th$ slalemenl of financial a¢ti¥iti¢$ ¥lso ¢omplies wlh lh¢ requifem¢nts for ¥n in¢om¥ and &xpnJilure account under the CompaniesAct 20C6. The notes on pages 8 to 16 forni an integral part of these financial statements.
ACTACC BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Notes Currènt assèts Debtors Cash at bank and in hand 10 78.141 230,170 55.540 225,752 308.311 281,292 Crgdltors.. •mounts f•lllng dug ¥Athln onè yèar 11 126,7531 {12,1471 Net cunt assets 281.558 269,14S Capltal fund$ Endowrnenl fund5- general Incom• lunds Restricted funds Unrestricted funds 14 2.617 2,617 13 70.785 208.156 70,785 195,743 281.558 269.145 The company Is entitled to the exemption from the audit requirement contained in section 477 of the Cornpanies Act 2006. for the year ended 31 December 2022. The directors acknovledge their re$ponsibilibe8 for crynptying wilh the requirements of the Companies Act 20C wrth respect lo accounting records an¢J Ihe preparation ol finanrial statements. The mémbers hav8 not requlrèd the company to obtain an audit of its (Inand81 ststèments for th• yaar In qu8stion In accordance vAth sectSon 476. These financial statements have been prepared in accordance wrfh the provisions applicable to companies subject to the small companies regime. 141812023 The financial st8lemenl$ were approved by the Dire¢trMs on ......................... G Kunst Director Company R•gi#tration No. 4577152 The notes on pages 8 to 16 fom) an integral part ofthese financial statements.
ACTACC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2022 Aecountlng pollel•s Charfty Snforniatlon ACTACC is a private company limrted by guarantee incorporated in England and Wdles. The registered office and principal place ol business is 35 Red Lion Square. London, WC1R 4SG. 1.1 Accounting convention The financial statements have been prepared in accordance wrth the charity's Memofandum and Articles of Association. the Companies Act 2006, the Charit*s Act 2011, Ihe Charities and Trustee Investment Iscollandl Act 2005. the Charities Accounts (Scollandl Regulalions 2006 las amende(Jl and "Accounting and Reporting by Charities.. Statement ol Recommended Practsce applicable to charrties preparing their accounts in accordance wth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accoun¢in9 periods commencing from 1 January 20191. The charity is a Public Benefit Ents'ty 8$ defined by FRS 102. The financial statements are prepared in sterfing, which is the fundional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been Prepared under the historical 81 convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the ffinancial statements. the D1CloTS have a asonable expectation that the charity haB adequate resour$ to Continue in operalional existence for Ihe foreseeable future. Thus the Directors continue lo adopt the going concem basis of accountsng in preparing the financAal stalernents. 1.3 Charttable funds Unrèstricted lund$ gr¥ available for u$& 81 the di?110n of Ihe Dir&¢tors in fvrthtrr0n of their ¢hari¢abl& objectives. Restricted fvnds are Subject lo conditions ty donors as lo how they may be usetj. Th¥ purpo$e$ and uses of the r¢$tri¢ted lund$ 8re $¢1 oul in thg not¢$ to the fin8noal $1gl¢m&nt$. Endowment fvnds affj subje¢t lo spe¢rf ¢ondition$ by donors Ih8t the Capital must be maintained by th& ¢harity. IA Income Income is recognised when the charity is legalty entitled to it after any perfomance conditions have been met, the amounts can be rneasured 1iabty. and rt is probable that income will be received. Cash donations are recognised on receipt. Other donab.ons and membership subscriptions are recognised once the charity has been notffied of the donation, unless perfomiance conditions require deferral of the arnount. Legacies are recogniseil on receipt or otherwse il the charity has been nolified of an impending distribution. the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Incom• Irom Charltablo Actl¥ltS9s Income from charrtable activities indudes income earned both from ihe supply of goods or services under contractual arrangements and from performance-related grants which have conditions that specify the provision of particular goods or services to be provided by the charrty. Income frorn charitable adivilie$ is rewgnised as earned la5 the ielated goods or se1$ are provided}.
ACTACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 Accounting policies (Continuedl Invèstmènt Ineomè Interest on funds held on deposrt is induded when recewable and the amount can be measUd reliably by the charity,. this is normally upon notificab.on of Ihe inlerest paid or payable by the bank. 1.5 Expendlturè Liabilities are recognised as expendrture as swn as the is a legal or constnjctrve obligation commitb'ng the ch8rity to that expenditure. it is prob8ble that seluemenl wil be required and the amount of the obligation can be rneasuTed or estimated reliabty. Liabilrties a measured on recognrtion at historical cost and then subsequentty meaSUd at the best estimate of the amount required lo settle the obligation at Ihe reporling date. The exception is that certain financial instruments rnust be adjusted to their present value.. these include financial liabilities where settlernent is deferred for rn0 than 12 month5 after Ihe reporting date. l expenditu is ¥¢¢ounl&d for on an a¢¢815 basi$. A# expenses Midudin9 $UPPOrt costs and governan¢& costs are allocated or apportioned to the applicable expendIlu headings. Charltabl• aetlvlllè8 Expenditure on charitable a¢¥1¢$ InduO&s 911 costs In¢urrod by Ihe ¢hgrlty In undertaking a¢tlvlll&$ that further rts charitable aims for the benefft ol its beneficiaries. induding those support costs and costs relating to the governance of the charrty apportj'oned to charitable aclivilies. The costs of charitable activities presented in the Statement of Finanrial Activilies indudes the ry)sts of both direct service provision and the payrnents of granl awards il applicable. Grant expendlture Grants payable are made to third parties in the fvrtherance of the charrtable objects. The award of a grant is recognised as a liability onty when the criteria for a constructive obligation are rnet. payment Is probable, il can be rneasured reliably and there are no condrtions atlaGhin9 to its payment th81 limrt recognition. In the case ol an uncondrtional grant offer. this is accrued once the reapient has been notffied of the grant award. The notification gives the recipient a reasonable expectation that they will recewe the one-year or multi-year grant. Granl awards Ihat are subjed lo the plent fulfilling perfomiance conditions are only accrued when the recipient has been notsd of Ihe granl and any remaining unfulfilled condition attaching lo that grant is outside ol the ¢onlrol of the ¢h8rty. Governance cost8 Governance costs Ivthith are induded as a ¢omponenl of support costs in accordance with SORPI comprise all costs involving the public accountability ol the charity and rts compliance with regulalM)n and good practice. These costs include those related to constitutional and statulory iequirements, extem81 scrub'ny (audit tsi independent examination), strategic management, and other le9al and professional fees. IrrecoverJble VAT Irtecoverable VAT is charged against the èxpendtture heading for which it was incutyed. 1.6 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks. other short-term liquid investments wlh original maturities of the months or less, and bank overdrafts. Bank overdrafts are shown wrthin borrowings in curTent liabilrties.
ACTACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 Accounting policies (Continuedl 1.7 Flnanelal Instrnm•nts The charity has elected to appty the provisions of Section 11 'Basic Financial Instwments, and Sects'on 12 'Other Finanri81 Instruments Issues. of FRS 102 to all of its financial instruments. Flnancial instruments are recognisefl in the chanty's balance sheet when the chailty becomes party to the contractual provisions of the instrument. Financial assets and liabilitEs are offset. wth the net amounts presented in the financial statements, when there is a legalty enforceable right lo set off the recognised amounts and there is an intention lo settle on a net b8515 or to realise the asset and 5elUe the liability simuhaneou5ty. Basle finanelal •ss•ts Basic financial asset5. whKh indude debtor5 and cash and bank balances. a initially measured at tr8ns8Ction price induding Iransaction costs and are subsequentty carried at 8morty.sed c05t Using the effective interest method unles5 the 8rr8ngemenl wnstilules a finann9 transaction. where the transaction 1$ measured at the present value of the lulure receipls discounl•d at a market rate of interest. Finanaal assets classified as r1Vable within one yeai ale not amortbsed. Baslc flnancial liabilltlos B8sic fin8n¢ial liabilities. indudin9 Creditors and bank 108n$ ao initk?Ily recognised al tr8n$adion pri¢e unl•$$ the arrangement conslilules a finanong transaction. where the debt Inslwment is measured at the present value ol the future payments discounted at a market ratè of inlerest. Finanaal liabilities classified as payable wrthin one year are not amortised. Debt instruments are 8ubsequentty carried at amortl8ed cosl. using the effective interest rate method. Trade ¢re¢Jilor$ a obligations lo pay for 9oc4Js or servi¢*$ Ihal have b¢•n acquirea in the ordinary ¢ours¥ of operations from suppliers. Amounts payable are dassified as current liabilrties if payment is due wthin one year or less. If not, they are presente¢J as non-current liabilitses. Trade credrtors are recognised iniually at transaction price and subsequentty measured at amortised cost using the effectNe interest rnethod. Dorecognition of finonclal liabilities Financial Iiabilrties are derecognised when the charty's contractual obligations expire or are discharged or cancelled. 1.8 Employee benellts The cost of any unused holiday entthment is recognised in the period in which the employee's seNus are received. Terrnination benefits are recognised immediatety as an expense when the charity is demonstrably cornmrtted lo tenninale the employment of an employee or to provKle lewrninatson beneffts. Critical aeeountin9 •Stimat•s and judg•mènts In the applicats.on of the chanty's accounting policies. the Directors a qUired to make judgements, estimates and assumptions about the carying amounl ol assels and liabilrties that are not readify apparent from other sources. The estimates and asswaled assumpbons are based on historical experience and other factors that are considered to be relevant. Actual resums may differ from Ihese estirnates. The estimates and underlying assumptions ale reviewed tsn an ongoing basis. Revisions to accounting estimates are recognise¢J in the peri¢)d in which the ests.mate is revised where the revision affects On that period, or in the period of the revision and future periods where the revision affects both current and future periods. 10-
ACTACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 Donatlons and 18gacl•s Unregtrlcted Unrestricted funds fijnds 2022 2021 Membership subscripllons 22,115 19,020 In¢om• from tharltsbl• aetlvltl•s 2022 2021 Inme from M&elings VisitBritain IGrantl 55,414 76,250 8,000 55.414 82.250 Anoly$l$ by fvnd Unrestricted funds Réstricted funds S5.414 78.250 8,000 Investments Unrestrlcted Unrestricted funds funds 2022 2021 Interest receivable 90S 58
ACTACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 6 Cost ol eharltablè a¢¥tI•$ 2022 2021 Running costs Interest and financè chargès Governance costs 61,718 151 4,152 80,460 143 3,924 66.021 84.527 Analy¥l¥ by fund Unrestricted funds Re$lri¢ted lund$ 66,021 78,527 6,000 66,021 84,527 Dlrnctor None of the Directors lor any persons conn8¢#¢d 1h them) r1¥& any remuneration or benefits from th& charity dunng the year. See also Note 16. Employ•e8 The average monthty number ol employees during the yearwas: 2022 Number 2021 Number Total There were no trrnployee3 whose annual remuneratKin was more than £60.IJOO. N•t ineomèllèxponditur•l lor th• yèar 2022 2021 Net incomellexpenditurel for the year is s&ited after charging= Independent Examinerfs remuneration 4,1S2 3,924 10 Debtor¥ 2022 2021 Amounts lalllng du• wlthon one yèar. Other deblors Prep8ytnent5 and scrued income 58,221 19,920 49,253 6,287 78,141 55,540 12_
ACTACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 11 Cr•dltors'. amounts falllng du• wbthln on• yèar 2022 2021 Notes Deferred income Other credrtors Accru8ls 8nd deferred income 12 9,1(X) 8,841 8,812 1.184 5,379 26,753 12,147 12 Def?rred Incorn? 2022 2021 ATSsing from Meetings in Ivturtr years 9.100 1,184 Deferred income 15 induded in the financial slalement5 as follows.. 2022 2021 Deferred in¢om¥ 1$ indu¢Jsd within.. CUnt liabilities 9,100 1,184 Movements in the year.. Deferred income at 1 January 2022 Released from previous periods Resources deferred in Ihe year 21,006 121.0061 1,184 11.1841 9,100 Deferred income at 310ecember 2022 9.100 1,184 13-
ACTACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 13 R•strfet•d funds The income funds of the charity include restricted fijnds comprising the following unexpended balances of donations and grants held on trusl for speufic purposes.. vement In fund• Movement In fund¥ Incom• Balan¢0 •t 1 J8Duary 2021 In¢om• Exp•ndllUrn e8lnc•ai 1 January 2022 Balanco at 31 D0mber 2022 Bill Pallister Travelling Fellowship Award Fund Glas9ow 2021 Conf6r$n¢e Fund 70.785 70.785 70,785 6,OCIJ {6.0001 70.785 6.OLYJ {6.0001 70.785 70,785 Blll Palll•t•r Trav•lllng Fèllovrohlp Award Fund The Bill Pallister Travelling Fe#owship Award Fund represents legacy income that was received from the Estate of the late Bill Pallister. An amount of £5,C4JO is available during any single Calendar year, and will usually be paid to 8 single applicant bul may be divided between 8pplicanls. al the dis¢relion of the Edu¢8lion Committee. The 8W8rd 1$ intended to support a trainee or consultant within three years of appointment lo travel to an overseas centre of Interest. Glasgow 2021 Conference Fund Represents a grant received from Ihe Domestic Support Fund as administered by Vi51tBritain towards the costs of the chanty's Glasgow Conference in November 2021. 14 EndowTn•nt lund Endowment lunds represent ass6ts which must be held pemianentty by the charlty. Income arlsing on the endowment funds can be used in accordance wth the objects of the chanty and is Induded as unrestdcted income. Movement in funds Movement in funds Irbcomo BnCel l Jhuary 2021 Bitsnce at 31 December 2022 1 January 2022 Poman•nt èndowmènts John Hargadon Memorial Fund 2.617 2.617 2.617 2.617 2.617 2.617 Purpose of Endowment Fund John Hargadon Mémorial Fund Interest arising from the Fund is allocated to the chantys Genernl Fund. The Fund is fully presented by cash. 14_
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ACTACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 16 R•latod party transaetlons There were no disdosable related paty transactions during the year12021 - none). 16-