**Charity registration number 1098009 (England and Wales)**
**Charity registration number SC039915 (Scotland) Company registration number 4577152 (England and Wales)**
## **ACTACC**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **ACTACC**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Directors**|K M Bill||
|---|---|---|
||J E Arrowsmith||
||G Kunst||
||M Steven||
||S Agarwal||
||A Ahmed||
||C Walker||
||C A Boynton||
||R Jeeji|(Appointed 16 June 2023)|
||G Martinez|(Appointed 16 June 2023)|
|**Charity number (England and Wales)**|1098009||
|**Charity number (Scotland)**|SC039915||
|**Company number**|4577152||
|**Registered office**|c/o Event Managment Direct||
||Unite 9, Hydra Business Park||
||Nether Lane||
||Sheffield||
||S35 9ZX||
|**Independent examiner**|David Jeffcoat, FCCA||
||Alexander Sloan LLP||
||Accountants and Business Advisers||
||180 St Vincent Street||
||Glasgow||
||G2 5SG||
|**Bankers**|Royal Bank of Scotland plc||
||24 Douglas Street||
||Milngavie||
||Glasgow||
||G2 6HJ||
||Santander||
||Bridle Road||
||Bootle||
||Merseyside||
||L30 4GB||
|**Website address**|www.actacc.org||
## **ACTACC**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5 - 6|
|Balance sheet|7|
|Notes to the financial statements|8 - 15|
## **ACTACC**
## **DIRECTORS' REPORT** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The Directors present their report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019).
## **Objectives and activities**
The principal activity of the charity is the advancement of education and research in the fields of cardiac or thoracic anaesthesia.
The Association for Cardiothoracic Anaesthesia and Critical Care aims to advance education in the field of cardiothoracic anaesthesia and critical care by organising meetings aimed at Consultants and Doctors in training. The meetings comprise of lectures by experts, practical demonstrations and free papers of researchers in this field. The meetings have been developing over recent years from a one-day meeting in Spring and Autumn into two or three day meetings with satellite 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 societies such as the Intensive Care Society, the British Society of Haematology, the Society of Cardiothoracic Surgeons or, as in 2018, the European Society for Cardiothoracic Anaesthesiology and Intensive Care (EACTAIC).
Research in the field of cardiac and thoracic anaesthesia is promoted in various ways as outlined below in the
Grant Making Policy.
Free papers are requested and presented as posters and verbal presentations at most ACTACC meetings. The Hargadon Memorial prize is awarded for the best oral presentation at 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 two poster presentations.
## **Grant making policy**
ACTACC normally funds an annual award up to a limit of £15,000, which is assessed through the National Institute of Academic Anaesthesia (NIAA). No grants were made in 2019. In 2020 the grant round was cancelled due to the COVID-19 pandemic. In 2021, a total amount of £75,000 was made available for a joint grant with the British Journal of Anaesthesia (BJA) and the Vascular Society of Great Britain and Ireland (VASGBI), with each partner offering £25,000. However, there was no suitable grant application and the joint BJA/VASGBI/ACTACC grant was not awarded in 2021. In 2022 Professor Ronelle Mouton was awarded £34,213 by ACTACC in a joint grant with Vascular Anaesthesia Society of Great Britain, VASGBI, who contributed the same amount for a qualitative smoking cessation study with the title: PeRiOperative Tobacco-cEssation in patients undergoing vascular or CardioThOracic suRgery (PROTECTOR). This award was subsequently invoiced in 2023.
The next NIAA grant contribution of £30,000 by ACTACC has been agreed for the second NIAA grant round in 2024 in collaboration with the Association of Anaesthesia, who will be contributing the same amount. ACTACC also funds Travelling Fellowships for trainees and newly appointed consultants in the form of the Bill Pallister Travelling Fellowship Award (Restricted Fund). This Fellowship was awarded in 2022 with £1,677 to Dr Thomas Keast, and invoiced in 2023.
- 1 -
## **ACTACC**
## **DIRECTORS' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Achievements and performance**
ACTACC continues to have stable membership numbers. It is growing in diversity, and increasing emphasis has been put on making sure the views and issues of sub-groups within the cardiothoracic anaesthetic community are represented, particularly themes related to cardiothoracic training and also bullying and harassment in cardiothoracic surgery. More recently the views of our cardiac surgical colleagues and SCTS have been represented.
New elections of ACTACC board members in 2023 were planned for a vacancy of 4 positions. There were, however, only 4 applicants who were all appointed: Dr Mark Steven and Professor Gudrun Kunst were reappointed as directors; Dr Guillermo Martinez and Dr Ravish Jeeji were appointed as two new directors. Dr Joe Arrowsmith, Director, who was appointed as the President of ACTACC at the charity’s AGM in Glasgow on 19 November 2021 remains the President until the AGM in Cardiff in July 2024.
The Annual Scientific Meeting took place as a very successful face-to-face Conference in Cambridge on 15th and 16th June 2023.
In addition, a successful joint meeting with SCTS in took place on the 6[th] of November 2023.
The next annual scientific meetings will take place in Cardiff this year, in Leicester 2025, in London 2026 and in Blackpool 2027.
## **Financial review**
Per the Statement of Financial Activities on page 5, the charity reported a Deficit for the year of £34,399 (2022 - Surplus £12,413) and total funds at 31 December 2023 of £247,159 of which £175,434 (71%) were Unrestricted.
## **Reserves policy**
It is the policy of the charity to maintain Unrestricted Funds at a level that equates to approximately six months of unrestricted expenditure. At 31 December 2023, the charity's free reserves per Unrestricted Funds on page 5 amounted to £175,434. Although above the required level, the reserves were acceptable to the Directors in view of the possibility of the charity having to underwrite deficits from future Meetings.
## **Risk management**
The Directors has assessed the major risks to which the charity is exposed, in particular those related to the operations and future of the charity and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The Association of Cardiothoracic Anaesthetists ("the charity") is a company limited by guarantee (No. 4577152) governed by its Memorandum and Articles of Association. The charity is an English registered charity (No. 1098009) and also a recognised Scottish Charity (No. SC039915).
The Directors who served during the year and up to the date of signature of the financial statements were:
K M Bill N O'Keeffe (Resigned 1 January 2023) J E Arrowsmith G Kunst M Steven S Agarwal A Ahmed C Walker C A Boynton R Jeeji (Appointed 16 June 2023) G Martinez (Appointed 16 June 2023)
- 2 -
## **ACTACC**
## **DIRECTORS' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Appointment of Directors**
Directors of ACTACC are appointed for an initial term of three years, renewable for a further three years. They may only serve two consecutive terms. Appointment is by nomination from within the membership of ACTACC and, if necessary, by postal ballot. The Directors agree among themselves regarding their various roles.
New Directors take part in an induction programme, which aims to familiarise them with the charity's values, aims and objectives together with its day-to-day operations, in addition to clarifying their statutory responsibilities as Directors of a company limited by guarantee and as Trustees of a charity.
## **Organisational structure**
The Directors are responsible for the direction and administration of the charity and serve on a voluntary basis.
## **New Administrative Support for ACTACC**
The administrative support by the Royal College of Anaesthetists (RCoA) was terminated on the 31[st] July 2023 due to structural and accountancy changes by the RCoA.
The ACTACC board of directors chose Event Management Direct (EMD) as the new administrative support company from 1[st] of August 2023 onwards. EMD already provides administrative support for ASMs and events.
## **Public Benefit Statement**
The Directors confirm that they have compiled with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their duty and powers.
## **Independent examiner**
The Directors recommend that David Jeffcoat, FCCA, a partner in Alexander Sloan, Accountants and Business Advisers, remains in office as independent examiner until further notice.
The Directors' Report was approved by the Board of Directors.
**J E Arrowsmith** Director Dated: 5 July 2024
- 3 -
## **ACTACC**
## **INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF ACTACC**
I report to the Directors on my examination of the financial statements of ACTACC for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the Directors of the charity (and also its Trustees for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act), the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006 (the 2006 Act) and the Charities Act 2011. You are satisfied that the financial statements of the charity are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that financial statements of charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of charity’s financial statements carried out under section 44 (1) ( c) of the 2005 Act and section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination, I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland, your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act and Regulation 4 of the 2006 Accounts Regulations; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
David Jeffcoat, FCCA Alexander Sloan LLP Accountants and Business Advisers 180 St Vincent Street Glasgow G2 5SG
Dated: .........................
- 4 -
## **ACTACC**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**Current financial year**
**Unrestricted**
**Restricted**
**Endowment**
**funds**
**funds**
**funds**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
21,753
-
-
Charitable activities
**4**
133,416
-
-
Investments
**5**
1,289
-
-
**Total income**
156,458
-
-
**Expenditure on:**
Charitable activities
**6**
189,180
1,677
-
**Total expenditure**
189,180
1,677
-
**Net income/(expenditure) and**
**movement in funds**
(32,722)
(1,677)
-
**Reconciliation of funds:**
Fund balances at 1 January 2023
208,156
70,785
2,617
**Fund balances at 31 December**
**2023**
175,434
69,108
2,617|**Total**
**2023**
**£**
21,753
133,416
1,289
156,458
190,857
190,857
(34,399)
281,558
247,159|**Total**
**2022**
**£**
22,115
55,414
905|
|---|---|---|
|||78,434
66,021|
|||66,021|
|||12,413
269,145|
|||281,558|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form an integral part of these financial statements.
- 5 -
## **ACTACC**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**Prior financial year**
**Unrestricted**
**Restricted**
**Endowment**
**funds**
**funds**
**funds**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
22,115
-
-
Charitable activities
**4**
55,414
-
-
Investments
**5**
905
-
-
**Total income**
78,434
-
-
**Expenditure on:**
Charitable activities
**6**
66,021
-
-
**Total expenditure**
66,021
-
-
**Net income and movement in funds**
12,413
-
-
**Reconciliation of funds:**
Fund balances at 1 January 2022
195,743
70,785
2,617
**Fund balances at 31 December 2022**
208,156
70,785
2,617|**Total**
**2022**
**£**
22,115
55,414
905|
|---|---|
||78,434
66,021|
||66,021|
||12,413
269,145|
||281,558|
The notes on pages 8 to 15 form an integral part of these financial statements.
- 6 -
## **ACTACC**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2023**_
|**Notes**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
**Net current assets**
**The funds of the charity**
Endowment funds
**15**
Restricted income funds
**16**
Unrestricted funds|**2023**
**£**
34,989
223,918
258,907
(11,748)|**£**
247,159
2,617
69,108
175,434
247,159|**2022**
**£**
78,141
230,170
308,311
(26,753)|**£**
281,558|
|---|---|---|---|---|
|||||2,617
70,785
208,156|
|||||281,558|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Directors on 5 July 2024
G Kunst
## **Director**
Company registration number 4577152 (England and Wales)
- 7 -
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **ACTACC**
## **1 Accounting policies**
## **Charity information**
ACTACC is a private company limited by guarantee incorporated in England and Wales. The registered office and principal place of business is c/o Event Managment Direct, Unite 9, Hydra Business Park, Nether Lane, Sheffield, S35 9ZX.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations and membership subscriptions are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Legacies are recognised on receipt or otherwise if the charity has been notified 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.
## **Income from Charitable Activities**
Income from charitable activities includes income earned both from the 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 charity. Income from charitable activities is recognised as earned (as the related goods or services are provided).
- 8 -
## **ACTACC**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **Investment income**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured or estimated reliably.
Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. The exception is that certain financial instruments must be adjusted to their present value; these include financial liabilities where settlement is deferred for more than 12 months after the reporting date.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
## **Charitable activities**
Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. The costs of charitable activities presented in the Statement of Financial Activities includes the costs of both direct service provision and the payments of grant awards if applicable.
## **Grant expenditure**
Grants payable are made to third parties in the furtherance of the charitable objects. The award of a grant is recognised as a liability only when the criteria for a constructive obligation are met, payment is probable, it can be measured reliably and there are no conditions attaching to its payment that limit recognition.
In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.
## **Governance costs**
Governance costs (which are included as a component of support costs in accordance with SORP) comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include those related to constitutional and statutory requirements, external scrutiny (audit or independent examination), strategic management, and other legal and professional fees.
## **Irrecoverable VAT**
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 9 -
## **ACTACC**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.7 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.8 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only 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 DECEMBER 2023**_
|**3**||**Donations and legacies**|||
|---|---|---|---|---|
||||**Unrestricted**|Unrestricted|
||||**funds**|funds|
||||**2023**|2022|
||||**£**|£|
|||Membership subscriptions|21,753|22,115|
|**4**||**Income from charitable activities**|||
||||**2023**|**2022**|
||||**£**|**£**|
|||Income from Meetings|133,416|55,414|
|**5**||**Income from investments**|||
||||**Unrestricted**|**Unrestricted**|
||||**funds**|**funds**|
||||**2023**|**2022**|
||||**£**|**£**|
|||Interest receivable|1,289|905|
||**6**|**Cost of charitable activities**|||
||||**2023**|**2022**|
||||**£**|**£**|
|||Running costs|150,567|61,718|
|||Interest and finance charges|170|151|
|||Governance costs|4,230|4,152|
|||Grant payable (see Note 7)|35,890|-|
||||190,857|66,021|
|||**Analysis by fund**|||
|||Unrestricted funds|189,180|66,021|
|||Restricted funds|1,677|-|
||||190,857|66,021|
- 11 -
## **ACTACC**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **7 Grants payable**
|Grants to institutions:
North Bristol NHS Trust - ACTACC NIAA Grant
Travelling expenses award to Dr Thomas Keast|**2023**
**£**
34,213
1,677|
|---|---|
||35,890|
## **8 Directors**
None of the Directors (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **9 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
|There were no employees whose annual remuneration was more than £60,000.|||
## **Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
## **10 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **11 Net income/(expenditure) for the year**
|**11**
**Net income/(expenditure) for the year**|||
|---|---|---|
|Net income/(expenditure) for the year is stated after charging:
Independent Examiner's remuneration
**12**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2023**
**£**
4,230
**2023**
**£**
870
27,777
6,342
34,989|**2022**
**£**
4,152|
|||**2022**
**£**
-
58,221
19,920|
|||78,141|
- 12 -
## **ACTACC**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**13**
**Creditors: amounts falling due within one year**
**Notes**
Deferred income
**14**
Other creditors
Accruals and deferred income
**14**
**Deferred income**
Arising from Meetings in future years
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 January 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2023|**2023**
**£**
-
8,028
3,720
11,748
**2023**
**£**
-
**2023**
**£**
-
9,100
(9,100)
-
-|**2022**
**£**
9,100
8,841
8,812
26,753
**2022**
**£**
9,100
**2022**
**£**
9,100
1,184
(1,184)
9,100
9,100|
|---|---|---|
## **15 Endowment funds**
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income.
||**At 1 January**|**At 31**|
|---|---|---|
||**2023**|**December**|
|||**2023**|
||**£**|**£**|
|**Permanent endowments**|||
|John Hargadon Memorial Fund|2,617|2,617|
- 13 -
## **ACTACC**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**15**|**Endowment funds**||**(Continued)**|
|---|---|---|---|
||**Previous year:**|**At 1 January**|**At 31**|
|||**2022**|**December**|
||||**2022**|
|||**£**|**£**|
||**Permanent endowments**|||
||John Hargadon Memorial Fund|2,617|2,617|
## **Purpose of Endowment Fund**
## **John Hargadon Memorial Fund**
Interest arising from the Fund is allocated to the charity's General Fund. The Fund is fully represented by cash.
## **16 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 January**|**Resources**|**At 31**|
|---|---|---|---|
||**2023**|**expended**|**December**|
||||**2023**|
||**£**|**£**|**£**|
|Bill Pallister Travelling Fellowship Award Fund|70,785|(1,677)|69,108|
|**Previous year:**|**At 1 January**|**Resources**|**At 31**|
||**2022**|**expended**|**December**|
||||**2022**|
||**£**|**£**|**£**|
|Bill Pallister Travelling Fellowship Award Fund|70,785|-|70,785|
## **Bill Pallister Travelling Fellowship Award Fund**
The Bill Pallister Travelling Fellowship Award Fund represents legacy income that was received from the Estate of the late Bill Pallister.
An amount of £5,000 is available during any single calendar year, and will usually be paid to a single applicant but may be divided between applicants, at the discretion of the Education Committee. The award is intended to support a trainee or consultant within three years of appointment to travel to an overseas centre of interest.
- 14 -
## **ACTACC**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **17 Unrestricted funds**
These are the unrestricted funds to the charity
|||**At 1 January**|**Incoming**|**Resources**|**At 31**|
|---|---|---|---|---|---|
|||**2023**|**resources**|**expended**|**December**|
||||||**2023**|
|||**£**|**£**|**£**|**£**|
||General funds|208,156|156,458|(189,180)|175,434|
||**Previous year:**|**At 1 January**|**Incoming**|**Resources**|**At 31**|
|||**2022**|**resources**|**expended**|**December**|
||||||**2022**|
|||**£**|**£**|**£**|**£**|
||General funds|195,743|78,434|(66,021)|208,156|
|**18**|**Analysis of net assets between funds**|||||
|||**Unrestricted**|**Restricted**|**Endowment**|**Total**|
|||**funds**|**funds**|**funds**||
|||**2023**|**2023**|**2023**|**2023**|
|||**£**|**£**|**£**|**£**|
||**At 31 December 2023:**|||||
||Current assets/(liabilities)|175,434|69,108|2,617|247,159|
|||175,434|69,108|2,617|247,159|
|||**Unrestricted**|**Restricted**|**Endowment**|**Total**|
|||**funds**|**funds**|**funds**||
|||**2022**|**2022**|**2022**|**2022**|
|||**£**|**£**|**£**|**£**|
||**At 31 December 2022:**|||||
||Current assets/(liabilities)|208,156|70,785|2,617|281,558|
|||208,156|70,785|2,617|281,558|
## **19 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 15 -
**The following pages do not form part of the statutory accounts**
## **ACTACC**
## **DETAILED TRADING AND PROFIT AND LOSS ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**Income**
UF Membership subscriptions
**Income from charitable activities**
UF Income from Meetings
**Investment income**
UF Other interest receivable non-operating
**Total income**
**Total expenditure**
**Net (deficit)/surplus for the year**|**2023**
**£**
**£**
21,753
21,753
133,416
133,416
1,289
1,289
156,458
(190,857)
(34,399)|**£**
22,115
55,414
905|**2022**
**£**
22,115
55,414
905
78,434
(66,021)
12,413|
|---|---|---|---|
## **ACTACC**
## **DETAILED TRADING AND PROFIT AND LOSS ACCOUNT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**Charitable activities**
Grants payable
UF Grants to institutions
RF Grants to institutions
Running costs
Computer, website and IT costs
General expenses
Costs of Meetings
Admin Support (Royal College of
Anaesthetists/Event Management Direct)
Committee Meeting and Travel expenses
Interest and finance charges
Bank charges
Governance costs
Independent examination fees
**Total charitable activities expenditure**
**Total expenditure**|**£**
34,213
1,677
4,442
1,474
132,363
11,661
627
170
4,230|**2023**
**£**
35,890
150,567
170
4,230
190,857
190,857|**£**
-
-
508
710
44,917
13,195
2,388
151
4,152|**2022**
**£**
-
61,718
151
4,152|
|---|---|---|---|---|
|||||66,021|
|||||66,021|