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|||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|||||||||||
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|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|
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|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)|||||||||
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|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|
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|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|
##
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##
|||||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|
##
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|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|