2020-09-30-accounts - Obstetrics Anaesthetists Association

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		Page
Legal and Administrative information
Report ofthe Executive Committee		2to ll
Independent Auditors	Report to the Members	12to 14
Statement ofFinancial	Activities	15
Balance Sheet		16
Cash Flow Statement		17
Notes to the Financial	Statements	18to 29


LEGAL	AND A	DMINI	TRATIVE INFORMATION				Page l
Charity	number:		1111382
Company	number:		05540014
Trustees	aad Executive		Committee members at 30September 2020:
			Dr CElton —President
			Dr KLitchfield - Honorary			Secretary
			Dr EEvans —Honorary		Secretary Elect (from 27 June 2020)
			DrJBamber - Honorary		Treasurer
			Dr S Armstrong
			DrJCampbell (Appointed			27June 2020)
			Dr R Collie
			Dr KMaclennan
			Dr F Pearson
			Dr RRussell
			Dr R Sodhi
			Dr M Van de Velde
Other Committee		members	(non-voting) at30September	2020:
			Dr N Lucas
			Dr FPleat —Royal College			ofAnaesthetists	(RCoA)
			representative (Resigned		as	Trustee 27June	2020)
			Ms SStanford
Registered	office.		21 Portland Place
			London
			W(B JPY
Beakers:			National Westminster	Bank		pic
			)49 Church Street
			Bames
			London SW139HS
			Scottish Widows
			15Dalkeith Road
			Edinburgh EH16 5BU
Auditors:			Moore (South) LLP
			Priory House
			Pilgrims Court
			Sydenham Road
			Guildford
			Surrey GUl 3RX
Investmeat	Managers:		Charles Stanley &Co.	Limited
			55 Bishopsgate
			London
			EC2N 3AS

Ol Grant June 2019	Ol Grant June 2019	Ol Grant June 2019
EPowell			Tackling	Antenatal			Anaemia:		A	multi-faceted			approach					f1,748
OAA Small Grant Sept 2019
L Kessack			Observational		study of			peripheral		skin	temperature				changes			,985
			following	spinal		anaestbesia			for	category		4 lower			segment
			caesarean	section			LSCS
International	Grants September 2019
TBleeser			Disentangling		the		effects of anaesthesia					from		those		of non-		f6,122
			obstetric	surgery		in	the	rabbit	model
M Van de Velde			High volume		PCEA			versus	PIEB		for	labor			analgesia:		a	f4,670
			randomized,		double		blind, multicenter,				non-inferiority					study	in
			nulli arous women
Travel Grants	April	2020
Two travel grants awarded			forf750.
SOAP Bursary	2020
None awarded
3 Day Course Bursaries 2020
None awarded
OAA Small Research		Grants 2020
Analytics Cambridge		Ltd	Data Analysis		work		NOAD											f1,200
None awarded

					20IG	2017	2018	2019	2020
					Actual	Actual	Aet sl	~Actual	Aciual
OAA snbscnption income					236,431	239,508	242,2G5	232,090	230,70G
less: IIOA and Pencil Point	publishing			costi	(91,418)	(93,706)	(93,185)	(94,170)	(91,767)
less PCH memberslnp admimstrstion				costs	(14,151)	(12,737)	(4,803)	(1,570)	(780)
less: AAGBI admmistrntion	costs				(97,060)	(114,691)	( H 8,207)	(132,249)	(126,726)
Contributinn tn overheads					334102	18474	26,070	3,921	11,433
Surplus on nieetings including		sponsorship			137,727	174,659	102,420	40,3&i6	6,493
aesearch grants payable					(88,822)	(76,139)	(158,209)	(170,133)	( I 8,725)
Travel snd Outreach Meetings				grants	(4,500)	(4,000)	(5,000)	(3,750)	(750)
payable
Bursaries					(14,744)	(19,243)	(13,224)	(18,300)	(1,018)
Grants written back					2,596	28,457	2,452	16,533	3,866
Dona@our payable					(13,500)	(1.000)	(1,575)	(311)	(685)
Contribution to overheads					18.757	102,734	(73,136)	(135/95)	(10819)
Other income					118,735	117,443	111,289	112,680	128,408
Nct income befure other expenditure					171,294	238,G51	64423	(18,994)	129,022
Orher direct costs (panting,			videos,		(1,512)	(234)
educutuin etc)
Management, administration				and	(129,625)	(99,605)	(88,670)	(116,237)	(79,166)
governance
Net surplus/(deficit) for year					40,157	138,812	(24,447)	(135,231)	494156

			Notes	Total	Total
				Uarestricted	Unrestricted
				Funds	Funds
				2020	2019
INCOME FROM
Charitable activities			3	237,890	459,570
Other trading activities			4	326,090	307,084
Investment income			5	33,024	37,686
Total income				597,004	804,340
EXPENDITURE ON
Raising funds				11,526	6,739
Charitable activities				519,382	922,638
Other				16,240	10,194
Total expenditure				547,148	939,571
Net (losses)/gains on investments			14	(8,294)	55,254
Net incoming/(outgoing)		resources		41,562	(79,977)
Net movement in fuads				41,562	(79,977)
Reconciliation offunds
Total funds brought	forward		19	1,579,241	1,659,2I8
Total Funds Carried Forward			19	1,620,803	1,579,241

					2020		2019
				Note
Fixed assets
Investments				14		1,321,407		1,308,487
Current assets
Debtors				15	257,733		215,559
Cash at bank	and in	hand			294,961		555,667
					552,694		771,226
Creditors: Amounts		falling due
within oae year				16	253,298		500,472
Net current	assets					299,396		270,754
Total assets	less current		liabilities			1,620,803		1,579,241
Charity Funds
Unrestricted	Funds			18		1,620,803		1,579,241

OBSTETRIC ANAESTHETISTS A (A Company Limited By Guarantee)	OBSTETRIC ANAESTHETISTS A (A Company Limited By Guarantee)	OBSTETRIC ANAESTHETISTS A (A Company Limited By Guarantee)	OBSTETRIC ANAESTHETISTS A (A Company Limited By Guarantee)	OBSTETRIC ANAESTHETISTS A (A Company Limited By Guarantee)	SSOCIATI	ON
STATEMENT OF CASH FLOWS								Page 17
YEAR ENDED 30TH SEPTEMBER 2020
					2020		2019
				Note
Cash Ilows from operating		activities
Net cash provided by operating
activities				21		(272,340)		(89,422)
Cash flows from investing		activities
Dividends received					32,848		37,686
Proceeds from sale ofinvestments					102,130		85,378
Purchase ofinvestments					(24,608)		(104,908)
Net cash used in investing	activities					110,370		18,156
Change in cash and cash		equivalents
in the reporting period						(161,970)		(71,266)
Cash and cash equivalents			at	the
beginning ofthe reporting	period					620,797		692,063
Cash aad cash equivalents		at tbe end
ofthe reporting period						458,827		620,797
Analysis ofcash and cash		equivalents
						2020		2019
						8		8
Cash at bank and in hand						294,961		555,667
Cash held by stockbroker						163,866		65,130
Total cash and cash equivalents						458,827		620,797


NO	TES TO THK FINANCIAL STATEMENTS (CONTINUED)		Page 21
YEAR ENDED 30TH SEPTEMBER2020
4.	INCOME FROM OTHER TRADING ACTIVITIES
		2020	2019
	OAA subscriptions	230,706	232,090
	Royalties	94,184	74,294
	Other income	1,200	700
		326,090	307,084
5.	INCOME FROM INVESTMENTS
		2020	2019
			8
	Dividends	32,848	37,686
	Bank interest	176
		33,024	37,686
6.	RAISING FUNDS
		2020	2019
	Investment Managerfees	11,526	6,739
7.	DIRECT CHARITABLE EXPENDITURE
		2020	2019I
	Courses and meeting expenses	231,397	419,204
	International Journal ofObstetric Anaesthesia
	and Pencil Point Newsletter	91,767	94,170
	Website	32,630	28,897
	Grants (note 10)	16,627	175,650
	Donations (note 11)	685	311
	External conference costs	3,235	32,384
	Support costs (note 9)	143,041	172,022
		519,382	922,638


NO	TES TO THE FINANCIAL STATE	MENTS	(CONTINUED)	Page 22
YEAR ENDED 30TH SEPTEMBER2020
8.	OTHER EXPENDlTURE
			2020f	2019
	Audit fees		7,000	6,900
	Accountancy fees		2,680	2,664
	Under accrued 2018			404
	Legal Fees		6,560
	Consultancy			226
			16,240	10,194
	The costs above relate to the governance	costs ofthe charity,
9.	SUPPORT COSTS
			2020f	2019f
	Postage and stationery		197	6,308
	Bank and credit card charges		8,462	14,101
	Committee meeting expenses		6,876	17,414
	Membership administration		127,506	133,999
	Sundry			200
			142,916	172,022
10.	GRANTS PAYABLE

These constitute
	2020	2019
Research grants	18,725	170,133
Bursaries	1,018	18,300
Travelgrants	750	3,750
Total grants payable	20,493	192,183
Grants written back	(3,866)	(16,533)
Total grants	16,627	175,650

Grants to Institutions	Grants to Institutions
Cambridge	University	NHS Foundation	Trust	4,985
				1,748
Uz Leuven	—Belgium			10,792
Analytics	Cambridge	Ltd		1,200
				18,725

The Executive Committee members or pe connections have not received remuneration,	The Executive Committee members or pe connections have not received remuneration,	The Executive Committee members or pe connections have not received remuneration,	rsons with whom they have family directly or indirectly, from the charity.	or business
During the period expenses were reimbursed			to members ofthe Executive Committee	as follows;
			2020f	2019f
Travel and subsistence	costs refunded	to 10	members
(2019 - 14members)			5,497	17,139

				2020	2019
				8	I
Opening market	value			1,243,357	1,168,573
Additions				24,608	104,908
Disposals				(102,130)	(85,378)
				1,165,835	1,188,103
Total (toss)/gain	on revaluations		and disposals	(8,294)	55,254
Closing market	value			1,157,541	1,243,357
Cash available to invest				163,866	65,130
Total ofinvestments				1,321,407	1,308,487
				Market	Market
				Value	Value
				2020	2019f
Quoted investments
Fixed interest				107,113	108,075
Equities				851,453	973,775
Unit Trusts				198,975	161,507
				1,157,541	1,243,357
Other
Monies held by	investment	managers		163,866	65,130
				1,321,407	1,308,487

The followin	g re	presents the split ofinvestments	held in the United Kingdom	and overseas:
			2020	2019
			8	8
Investments	held	in the United Kingdom	497,480	584,671
Investments	held	overseas	660,061	658,685
			1,157,541	1,243,357

YE	AR ENDED 3	0TH SEPTEMBER 2020
15.	DEBTORS
			2020	2019
			8
	Trade debtors		1,500	1,200
	Other debtors		3,960	7,584
	Prepayments	and accrued income	252,273	206,775
			257,733	215,559

REDITORS: AMOUNTS FALLING D	UE WITHIN ONE YEAR
	2020	2019
Trade creditors	43,437	54,204
Grants payable (note 17)	49,562	153,814
Deferred income	71,256	209,665
Accrued expenses	89,043	82,789
	253,298	500,472

ECONCILIATION OF GRANT COMMITMENT	S
	2020	2019
		8
Balance owing at 1stOctober 2019	153,814	96,901
Commitments made in period (note 10)	20,493	192,183
Registration fees waived
Grants written back (note 10)	(3,866)	(16,533)
Payments in period	(120,879)	(118,737)
Balance owing at 30th September 2020 (note 16)	49,562	153,814

				Designated	Funds	General	Total
						Fund
			Infrastructure	Grants	Unrealised
			Fund	Fund	Gsias on
					Investments
At 1stOctober 2019			150,000	999,485	309,002	120,754	1,579,241
Net incoming/(outgoing)	resources
for the period						49,856	49,856
Transfer grants committed		in period		(20,493)		20,493
Transfer offunds as designated			grants	41,707		(41,707)
Total profit on revaluations		and
disposal ofinvestment	assets				(8,294)		(8,294)
At 30th September 2020			150,000	1,020,699	300,708	149,396	1,620,803

Unrestricte	d funds a	t 30	Se	ptember 2019	ptember 2019
				Designated		Funds	General	Total
							Fund
				Infrastructure	Grants	Unresllsed
				Fund	Fund	Gains on
						Investments
At 1st October 2018				150,000	968,680	253,748	286,790	1,659,218
Nut uutgoing	resources	for	the	period			(135,231)	(135,231)
Transfer grants committed			in period		(192,183)		192,183
Transfer of	funds as designated			grants	222,988		(222,988)
Total profit	on revaluations		and
disposal ofinvestment		assets				55,254		55,254
At 30th September 2019				150,000	999,485	309,002	120,754	1,579,241

Year ended 30Septembe	r 2020
	lafrsstructure	Grants	Unrealised	General	Total
	Fund	Fund	gains an	Fund
	(Desigasted)	(Designated)	investments
			(Designated)
Investments		1,020,699	300,708		1,321,407
Debtors				257,733	257,733
Short term deposits and
cash balances	150,000			144,961	294,961
Creditors				(253498)	(253,298)
	150,000	1,020,699	300,708	149,396	1,620,803
Year ended 30September	2019
	Infrastructure	Grants	Uareslised	General	Total
	Fund	Fund	gains on	Fund
	(Designated)	(Designated)	Investments
			(Designated)
Investments		999,485	309,002		1,308,487
Debtors				215,559	215,559
Short term deposits and
cash balances	150,000			405,667	555,667
Creditors				(500,472)	(500,472)
	150,000	999,485	309,002	120,754	1,579,241

RECONCILIATIO ACTIVITIES	N OFNET	INCOME TO	NET CASH FLOW FROM	OPERATING
			2020	2019
			8
Net income/(loss)	for the year		41,562	(79,977)
(Losses)/gains on investments			8,294	(55354)
Dividends received			(32,848)	(37,686)
(Increase)/decrease	in debtors		(42,174)	39,367
(Decrease)iincrease	in creditors		(247,174)	44,128
Net cash flow from operating		activities	(272,340)	(89,422)