2023-09-30-accounts

		Page
Legal and Administrative Information
Report ofthe Executive Committee		2to 11
Independent Auditors	Report to the Members	12to 15
Statement ofFinancial	Activities	16
Balance Sheet		17
Cash Flow Statement		18
Notes to the Financial	Statements	19to 30

Charity number:	Charity number:		11113S2
Company	number:		05540014
Trustees	and Executive Committee members at 30 September							2023:
			Dr N Lucas —President		(Appointed				14June			2023)
			Dr SArmstrong -Honorary			Secretary
			Dr JBamber - Honorary		Treasurer
			Dr M Broom (Appointed		14	June		2023)
			Dr RCollis
			Dr G Crossingham
			Dr SGriffiths
			Dr Charlotte Grove (Appointed				14June				2023)
			Dr D Hughes
			Dr Carol Kenyon (Appointed				14June			2023)
			Dr KMaclennan
			Dr YMetodiev
			Dr Vinnie (Rajveen) Sodhi (Appointed								14June 2023)
			Dr Shalini Sundaram	(Appointed				14June 2023)
			Dr A Wilkinson
Other Committee		members	(non-voting) at 30September	2023:
			Professor M Van de Velde —International Members representative
			Dr FPlaat —Royal College of				Anaesthetists					(RCoA) representative
Registered	office:		21 Portland Place
			London
			W1B 1PY
Bankers:			National Westminster	Bank		pic				Scottish Widows
			149Church Street							15Dalkeith			Road
			B ames							Edinburgh			EH16 5BU
			London SW13 9HS
Auditors:			Moore (South) LLP
			Suite 3,Second Floor
			Friary Court
			13-21High Street
			Guildford
			Surrey GU1 3DG
Investment	Managers:		Charles Stanley 4Co.Limited
			55 Bishopsgate
			London
			EC2N 3AS

able 1.OAA	Grant Awards 2022-20	23
Award Date	Grant Type	Grant Reference	Name ofPerson/Hospital	Amount
01/11/2022	Small Research Grant	SG-2022-03	Cardiff and Vale UHB	K4,600
07/02/2023	Travel Bursary	TEG-2023-01	Dr William Turner	f750
20/03/2023	ASM Bursary	ASM-2023-01	Dr Asish Subedi	f,1,000
16/03/2023	International	IG-2023-01	Global Anaesthesia
			Development	K15,000
			Partnershi s/ZADP
26/05/2023	Small Research Grant	SG-2023-01	University College London Hos itals	K2,3SO
			TOTAL	K23,730

Overall financial	rev	iew	sum	marised	in table below	:
					2019	2020	2021	2022	2023
					Actual	Actual	Actual	Actual	Actual
OAA subscription income					232,090	230,706	251,758	261,511	246,201
less: IJOA and Pencil Point		publishing		costs	(94,170)	(91,767)	(87,007)	(98,493)	(100,708)
less: PCH membership	administration			costs	(1,750)	(780)
less: AoA administration	costs				(132,249)	(126,726)	(118,963)	(114,835)	(130,612)
Contribution to overheads					3,921	11,433	45,788	48,183	14,881
Surplus on meetings including			sponsorship		40,366	6,493	40,705	60,643	90,363
Research grants payable					(170,133)	(18,725)	(18,056)	(9,315)	(21,980)
Travel and Outreach	Meetings			grants	(3,750)	(750)		(2,192)	(750)
payable
Bursaries					(18,300)	(1,018)		(3,350)	(1,000)
Grants written back					16,533	3,866		2,628
Donations payable					(311)	(685)
Contribution to overheads					(135,595)	(10,819)	22,649	48,414	66,633
Other income					112,680	128,408	126,837	151,185	135,863
Net income before other expenditure					(18,994)	129,022	195,274	247,782	217,377
Amortisation									(20,933)
Management, administration		and governance			(116,237)	(79,166)	(59,651)	(84,003)	(95,822)
Net surplus/(deficit)	for	year			(135&231)	49,856	135,623	1637779	100,622
(excluding gains on	investments)

YEAR ENDED	3	0TH SEPTEMBE	R2023
			Notes	Total	Total
				Unrestricted	Unrestricted
				Funds	Funds
				2023	2022
INCOME FROM
Charitable activities				516,611	311,458
Other trading activities				352,434	381,419
Investment income				29,630	31,277
Total income				898,675	724,154
EXPENDITURE	ON
Raising funds				10,116	10,911
Charitable activities				782,719	539,351
Other				12,303	10,113
Total expenditure				805,138	560,375
Net gains/(losses)	on investments		14	7,085	(138,826)
Net incoming resources				100,622	24,953
Net movement in	funds			100,622	24,953
Reconciliation of	funds
Total funds brought		forward	18	1,930,847	1,905,894
Total Funds Carried Forward			18	2,031,469	1,930,847

				2023		2022
			Note
Fixed assets
Intangible asset			13		536,524		324,496
Investments			14		1,124,023		1,097,498
					1,660,547		1,421,994
Current assets
Debtors			15	215,264		272,492
Cash at bank	and in	hand		514,391		645,412
				729,655		917,904
Creditors: Amounts		falling due
within one year			16	(358,733)		(409,051)
Net current	assets				370,922		508,853
Total assets	less current liabilities				2,031,469		1,930,847
Charity Funds
Unrestricted	Funds		18		2,031,469		1,930,847

(A Company Limited ByGu	(A Company Limited ByGu	aran	tee)
STATEMENT OF CASH FL		O	WS				Page 18
YEAR ENDED 30TH SEPTEMBER2023
				2023		2022
			Note
Cash flows from operating activities
Net cash provided by operating
activities			22		91,750		185,980
Cash flows from investing	activities
Dividends received				29,630		31,277
Proceeds from sale ofinvestments				71,495		66,205
Purchase ofinvestments				(121,847)
Purchase ofintangible fixed asset				(232,961)		(202,855)
Net cash used in investing	activities				(253,683)		(105,373)
Change in cash and cash	equivalents
in the reporting period					(161,933)		80,607
Cash and cash equivalents		at	the
beginning ofthe reporting	period				747,125		666,518
Cash and cash equivalents	at the end
ofthe reporting period					585,192		747,125
Analysis ofcash and cash	equivalents
					2023		2022
Cash at bank and in hand					514,391		645,412
Cash held by stockbroker					70,801		101,713
Total cash and cash equivalents					585,192		747,125

OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited ByGuarantee)	OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited ByGuarantee)	OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited ByGuarantee)	OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited ByGuarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINIJED)				Page 22
YEAR ENDED 30TH SEPTEMBER2023
3.	INCOME FROM CHARITABLE ACTIVITIES
			2023	2022
	Course registration fees		516,611	311,458
4.	INCOME FROM OTHER TRADING ACTIVITIES
			2023	2022
	OAA subscriptions		246,201	261,511
	Royalties		106,533	118,858
	Other income		(300)	1,050
			352,434	381,419
5.	INCOME FROM INVESTMENTS
			2023	2022
	Dividends		29,630	31,277
6.	RAISING FUNDS
			2023	2022
	Investment Manager	fees	10,116	10,911
7.	DIRECT CHARITABLE EXPENDITURE
			2023	2022
	Courses and meeting	expenses	426,248	250,815
	International Journal	ofObstetric Anaesthesia
	and Pencil Point Newsletter		100,708	98,493
	Website		36,997	32,159
	ITCosts			7,075
	Grants (note 10)		23,730	12,229
	External conference	costs	6,432
	Support costs (note	9)	167,671	138,580
	Amortis ation		20,933
			782,719	539,351

		2023	2022
Audit fees		8,700	7,350
Accountancy	fees	2,200	1,955
Under/(Over)	accrued in previous year	193	808
Awards		1,210
		12,303	10,113

UPPORT	COSTS
			2023	2022
Postage and	stationery		32	1,863
Bank and credit card		charges	18,309	14,584
Committee	meeting	expenses	18,718	7,298
Membership	administration		130,612	114,835
			167,671	138,580

These constitute commitments made in	the year
	2023	2022
Research grants	21,980	9,315
Bursaries	1,000	3,350
Travel grants	750	2,192
Total grants payable	23,730	14,857
Grants written back		(2,600)
Monies returned		(28)
Total grants	23,730	12,229

Grants to Institutions
Cardiff Royal Infirmary			4,600
Global Anaesthetic	Development	Partnership	15,000
University College	London Hospitals NHS
Foundation Trust			2,380
			21,980

uring t	he period expen	ses were reimb	ursed to members	ofthe Executive Com	mittee as follows:
				2023	2022
Travel	and subsistence	costs refunded	to 16members
(2022	—12members)			13,155	6,569

TANGIBLE ASSETS
	Software
COST
Bought forward	324,496
Additions in year	232,961
Carried forward	557,457
AMORTISATION
Bought forward
Charge for year	20,933
Carried forward	20,933
NET BOOK VALUE
As at 30September 2023	536,524
As at 30September 2022	324,496

NVESTMENTS
		2023	2022
Opening market value		995,785	1,200,816
Additions		121,847
Disposals		(71,495)	(66,205)
		1,046,137	1,134,611
Total gain/(loss) on revaluations	and disposals	7,085	(138,826)
Closing market value		1,053,222	995,785
Cash available to invest		70,801	101,713
Total ofinvestments		1,124,023	1,097,498

			Market	Market
			Value	Value
			2023	2022
Quoted investments
Fixed interest			154,059	96,613
Equities			750,333	778,428
Property			29,042	29,487
Alternatives			119,608	91,257
			1,053,042	995,785
Other
Monies held by	investment	managers	70,801	101,713
			1,123,843	1,097,498
The investment	income was	derived from the investments	listed above.

The inves	tmen	ts in the year which accounted for more	than 5%ofthe portfolio	's value are:
			2023	2022
Schroder	US	Equity Inc Maximiser	5.6%	5.8%
Schroder	Int	Selection Fund Asian Total Return		5.1%

The followin	g rep	resents the split ofinvestments	held in the United Kingdom	and overseas:
			2023	2022
Investments	held	in the United Kingdom	446,099	433,754
Investments	held	overseas	606,943	562,031
			1,053,042	995,785

EBTORS
		2023	2022
Trade debtors		2,680	17,505
Prepayments	and accrued income	212,584	254,987
		215,264	272,492

REDITORS: AMOUNTS FALLING D	UE WITHIN ONE YEAR
	2023	2022
Trade creditors	16,723	25,138
Grants payable (note 17)	50,642	52,577
Deferred income	163,842	211,954
Accrued expenses	127,526	119,382
	358,733	409,051

ECONC	ILIATION OF GRANT COMMITMENT	S
		2023	2022
Balance	owing at 1st October 2022	52,577	57,682
Commitments made in period (note 10)		23,730	14,857
Grants written back (note 10)			(2,600)
Payments	in period	(25,665)	(17,362)
Balance	owing at 30th September 2023 (note 16)	50,642	52,577

				Designated	Designated	Funds		General	Total
								Fund
			Infrastructure	Grants		Digital	Unrealised
			Fund	Fund	Platform		Gains on
						Investments
At 1st October 2022			150,000	767,978		324,496	329,520	358,853	1,930,847
Net incoming/(outgoing)	resources
for the period before net gains/(loss)
on investments								93,537	93,537
Addition ofintangible asset						232,961		(232,961)
Amortisation ofintangible		asset				(20,933)		20,933
Transfer grants committed		in period		(23,730)				23,730
Transfer offunds as designated			grants	43,170				(43,170)
Total loss on revaluations	and disposal
ofinvestment assets							7,085		7,085
At 30th September 2023			150,000	787,418		536,524	336,605	220,922	2,031,469
Unrestricted funds	at	30September 2022
				Designated		Funds		General	Total
								Fund
			Infrastructure	Grants		Digital	Unrealised
			Fund	Fund	Platform		Gains on
						Investments
At 1st October 2021			150,000	747,845		121,641	468,346	418,062	1,905,894
Net incoming/(outgoing)	resources
for the period before net gains/(loss)
on investments								163,779	163,779
Addition ofintangible asset						202,855		(202,855)
Transfer grants committed		in period		(12,229)				12,229
Transfer offunds as designated			grants	32,362				(32,362)
Total loss on revaluations	and disposal
ofinvestment assets							(138,826)	-	(138,826)
At 30th September 2022			150,000	767,978		324,496	329,520	358,853	1,930,847

19.		ANALYSIS OF NET ASS	ETSBETWEE	N FUNDS
		Year ended 30September	2023
		Infrastructure	Grants	Digital	Unrealised	General	Total
		Fund	Fund	Platform	gains on	Fund
		(Designated)	(Designated)	(Designated)	Investments
					(Designated)
Intangible	fixed assets			536,524			536,524
Investments			787,418		336,605		1,124,023
Debtors						215,264	215,264
Short term	deposits and
cash balances		150,000				364,391	514,391
Creditors						(358,733)	(358,733)
		150,000	787,418	536,524	336,605	220,922	2,031,469
Year		ended 30September 2022
		Infrastructure	Grants	Digital	Un realised	General	Total
		Fund	Fund	Platform	gains on	Fund
		(Designated)	(Designated)	(Designated)	Investments
					(Designated)
Intangible	fixed assets			324,496			324,496
Investments			767,978		329,520		1,097,498
Debtors						272,492	272,492
Short term	deposits and
cash balances		150,000				495,412	645,412
Creditors						(409,051)	(409,051)
		150,000	767,978	324,496	329,520	358,853	1,930,847

ECONCILIATION OF NET CTIVITIES	INCOME TO N	ET CASH FLOW FROM	OPERATING
		2023	2022
Net income for the year		100,622	24,953
Amortis ation		20,933
(Gains)/Losses on investments		(7,085)	138,826
Dividends received		(29,630)	(31,277)
Decrease/(Increase) in debtors		57,228	(36,750)
(Decrease)/Increase in creditors		(50,318)	90,228
Net cash flow from operating	activities	91,750	185,980