OBSTETRIC ANAESTHETISTS ASSOCIATION TRUSTEES ANNUAL IiEPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guaralltee) CONTENTS Page Legal and Administrativo Information Report of the Executive Committee 2to9 Independent Audilors Report lo the Members IOto13 Statement of Financial Activities 14 Balanr¢ Sheet 15 Cash Flow Statement 16 Noles to the Financial Statements 17to27
OBSTETRIC ANAESTHETISTS ASSOCIATION (A CompAny Limited By Gllarantee) LEGAL AIW ADMtNISTRATIVE INFORMATION Page I Charlty number: 1111382 CompAny nllmber: 05540014 Tru$te&s and Executive Committee members at 30 September 2025: Dr N Lucas - President Dr S Atmstrong- Honorary Secretary Dr J Bamber- Honorary Treasurer (r¢signed 15 May 2026) Dr Y Metodiev- Honorary Treasurer-Ele¢t (appointed 15 May 2025) Drm Broom Dr G Cro&singham Professor S Devroe Dr C Grove (Te5igned 15 May 2026) Dr D Hughe$ (appointed 15 May 2025) Professor R Kearns Dr N Kennedy Dr C K¢nyon DY C Phillips (resigned 15 May 2026) Dr Laura Robbins (appointed 15 May 2025) Dr V (Rajveen) Sodhi Dr N Tag¢ldin (resigned 15 May 2026) Dr V Vankari (appointed 15 May 2025) Otber Committee members {non-voting) It 30 September 2025: PrOrS0r M Van de Velde- International Members representative Dr K MaeLentwi- Royal College of Anaesih¢tists (RCOA) representative Regtstered office: 21 Portland Place London WIB IPY Bankers: National Westminsler Bank plc 149 Church Street Bames London SW13 9HS Auditors: Moore (South) LLP City Gates 2-4 Southgate Chichester Wcst Sussex P019 8DJ ]nvestment M*n#g¢T5- Charles Stanley & Co. Limited 55 Bishopsgate London EC2N 3AS
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Cotnpany Limited By Guarantee) REPORT OF THE EXECUTIVE COMMITTEE (CONTINUED) ENDED 30TH SEPTEMBER 2025 Page 2 The Ttee$ (who are a]so the directors of the charitable company for the purposes of company law) present their report and the fmancial statements of the ObstetrA¢ Anaesthetists, Association ('Ihe OAA" or'kne charity"} for the year ended 30 September 2025. The financial 5tatenient5 have been pr¢par¢d in accordance the charity's governing docum¢nt, applicable law and UK &¢¢oulliing standards (FRS 102 and the Charities SORP). Governing Docurnent The OAA w&s originally established a5 an unincorpora¢¢d asso¢iationio 1976 {charity number 272190). A charitable company limited by gUantee WAS incorporated on 18 Augusr 2005 and regislered as a charity on 20 September 2005 (registered charity lluD]ber l 111382). The assets and activities were transferred to the company on l October 2005. The Articles of Association were updated in 2009 to reflect tbe Companies Act 21x16 and revised injune 2021 to ensure complian¢¢ with current legtslation. Objects To promote the highest Standards of care for moth¢rs and babies through practice, education, training and research in obstetric anaesthesi& Trustees Details of Tntee$ serving during the year are shoM on pag¢ l. On 15 May 2025: - Dr Damien Hugh¢s, Dr Laura Robbins and Dr Vinkati were elected Tn]stees - Dr Gemtna Crossingham was fe-elected - Dr Yavor Metodiev wa$ ele¢t¢d unoppos¢d as Treasurer-Elect - Dr ShaliThi Sundaram and Dr Kirsty MacLennan retired at the end of their temis On 15 May 2026.. - Dr Pooja K3math and Dr Ahmed Deabes were elected Truslees. - Dr James Bamber, Dr Charlotte Grove, Dr Carolin¢ Phillips, and Dr Noha Tageldin retired at the end of th¢ir ternis. The Tnte¢S may appoint c(Fopted Mernbe to the Executive Committee for specifie expertise. Co opted members are not Trustees and have no voting rights. MembeTsbip The OAA has five classes of Membership.. Ordinary. Associate. Honoraryy Retired and Foreig Associate. All members may attend g¢nerat meetings. voting rights are restricted to Ordinary Members. Structure, Govern2nee and ManagemeDt The charity is governed by an Executive Cominittee comprising 1¥16 TTUSt¢¢s including President, Secretary and Treasurer (and Elect roles where applicable). Trustees senTe three-year terms and may be re-elected ollce. Three trainee representatives serve overlapping twTrY tern.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) REPOR'f OTr I'HE EXECUTIVE COMMITTEE (CONTINUED) Ef4DED 30TH SEPTLIVIBER 2025 Page 3 The ECutiVe Cominittee meets at least three times each year and op¢rat¢s through subcommittees covering educatio. research and granls. comtnuni£ation& guidelines. quality improvcmenL survey4 rin8n¢e and public information. Subcommittees r¢port to the Executive Committee. Administrative support is provid¢d under contract by the Association of Anaesthetists. Appointnjent of Trustets Tru51ees are elected by the membership inaccordance iyiththe charity's regulations. Electionresulis are declared at the Annual Gelleral Meeting. Trustee IndueÉion New Trust¢e5 r¢Geive an induction covering legal responsibilities. governanc¢ docutnents. fllwicial position and strategic plans. Grant making policy The OAA supports researcb and education through a Structured programme of grants and bursaries. During the year. the Executive Comniittee review¢d the research funding SInlUTe and discontinued Small Research Grants due to limited uptake, increasing the number of Quality Improvement & Innovation Grants ivhil¢ maintaining overall planned expenditure. The OAA did not participate in the natio2] NIAA large grdnt scheme during pOrting period and will review tt]re pgrticipation. An exceptiona] grnnt award of £20.000 iyas given to Ih¢ Royal College of Anaesthetfsts as fanCIal support for the NAP8: Complications of Regional Ana&sth¢STaproject ID recognition it will involve obstetric anaesthetic care. TabIe l. OAA Crant Awards 21124-2025 Date Award T e 0511112024 Travel Burs 2511112024 Recl ient/P OAA re resenlalion in Sri Lanka Iloyal College of Anaesthetists National Audit Projects Llective in Vanuatu- J. Templeton. Cardiff WCOA Trav¢1 Bursary-Dr M. Van de Velde Elective in A entina- E. Blettdis ASM Buts -DrP. Wela ¢dara Poslpartum anal¥¢sia U5¢-DrfvL ons. Edinbu WCOA Travel Bursary-DrD. Hu ose Amou £20.000 0911212024 Medical Student Bursary £750 09A1112025 Trnvel Bursary £1,000 1310112025 1410312025 15JO&2025 Medical Student Burs ASM Bursa Quality Jinprovement IDnoYation Grant Trdvel Bursary £750 £16.324 2810712025 £i.000 Totsl vaIue OAA Grants Awhrds: £41,824.
OBSTETRIC ANAESTHETISTS ASSOCIATION {A Company Limited By Guarnntee) REPORT OF THE EXECUTIVE COMMrrTEE (CONTINUED) ENDED 30TH SEPTEMBER 2025 Page 4 Objeetives, Atllvlties and Public Bell¢fKt The charitable objective of the Obstetric Anaesthetists, Asso¢iatii)n (OAA) is to promote safety in malemity care. In planning and reviewing its activities during 202¥25. th¢ Trustees had regard to the Clwity Commission's piiblic benefit guidance {CC3 and CC15d). The Tn]stees considered how each activity coniributes to improving the safery and qUlty ofobstetric anaeSthl¢ care andihereby b¢nefLts patients, families and the wider publi¢. The OAA delivers public benefit by.. - improving clinical stsThlards and saf¢ty in m*ernity services - providing accessible information for parents and the public - educating healthcare professionals involved in maternity Ce - supporting national quality improvement and data collection progr8rnmes - disseminating research and evidence-based guidance The ultim&t¢ b¢n¢ficiarxes are pregnant and postpartum patients and their babie4 with additional benefit to healthcare professionals and NHS services through improved safety and quality of care. Professional andPublte Communication The OAA PTovid¢5 Tcliable public infom)ation aix)ut pain relief and anaesthesia during ¢luldbirth through the dedicated website LabourPains.org. This 5UPPOrts inforni¢d decision-jnaking by parents and improves engagement with maternity services. During the year the website was red¢sign¢d lo improve navigatiojj, muliiliiigual access and readability in line with publio heaith communication standards. Social media channels are used to diss¢min&te infornLqtion more widely. The OAA funds Open Access publication of its peer-r¢view¢d research, ellabling unrestricted public and professional access to 5afety-related evide1e. Public benefit: improved public understanding uf maleTnity care and wider access to safety inforllthtion. Professional Guldance apzdLeadership The OAA ¢ontributes expertise to national clinical standards and confidential enquiries into maternal deaths. These activities support safer materllity s¢rYices across th¢ UK. The OAA supported development of an open-acce55 quick reference handbook and mobile application for obstetric anaestlieti¢ emergencies (7,052 downloads sitt¢e launch). These resources &s%ist clinicia8 in time-critical situations. The OAA partnered WAththe Professional Records St8nd)rds Body to develop the Obstetri¢ Anaesthetic Standard, designed to enable consistent recording of anaesthetic care in maternity records And future national audit. Public benefit.. improved clini¢al decision-making. learning from adverse outcomes, and safer c delivery across maternity services.
OBSTETRIC ANAESTHETISTS ASSOCIATION {A Company Limiled By Guary4ntee) REPORT OF THE EXECUTIVE COMMITTEE (CONTINUFD) YEAR EINDED 30TH SEVfEIlER 2025 Page 5 Objeellves, Actlvltles and Publle Benefit (¢ontlDued) Professional Educulion Training The OAA provides multidisciplinary education for healthcare professionals through meetings, courses and recoTded learning resources. Activities during the year sneluded.. - Joint multidisciplinary meeting with UK Maternal Cardiology Society (122 delegates and faculty) - Thr¢¢-Day COue (J94 delegate5 and faculty) - Annual S¢ientitic Meeting (469 delegates ]d faculty) - Fiv¢ years of recorded educational content available online Education is delivered on a cost-recovery basis and is open to rel¢vant professional5. Public benefit: improved pmfessional competen¢¢ leading to safer maternity (are for patients. Leod¢rshlp in Quallty Improvement ofOb&telriCAnaesihIC Care The OAA develops guidance and supports national quality improvementproamMes to in)prove pati¢nt s&fety. During the year: - good-pra¢li¢¢ guidance on intrathecal catheters was published further clinical guidelines ivere developed for the use of remiftntanil labour analgesia and for the matLagement women with Arnold-chiari malfomiations - the OAA contributed to Éhe NHS England Mateinity Outcovnes Signal System a nationa] anaesthetic data standard was developed in collaboration with the Professional Records Standards Body - member surveys supported seryÉee evaluation The Regional Societies Liaison Group wa5 re-established to share best practi¢¢ and promote dialogue bettyeen obstetric anaesihetists in UK maternity units. The OAA also contributes to national programmes including the UK Obst¢tri¢ SurveillanGe Sy5ten EaGh Baby Counts and MBRRACE-UK. Public benefit- identification of safety risks, dissemination of best practice and continuou5 improvement of mat¢rnity care outcomes.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Lirnited By Guarantee) REPORT OF TItE EXEcirrIvE COMMrrTEE (CONTINUED) YEAR ENDLD 30TH sEEMBER 2025 Page 6 Financial review Overnll fillancial review summarised in table below". 2022 2023 21124 202S Actual Actu21 rtual Grant in¢otne 22.600 Cfynlribution to Overhd9 22,61N OAA Subscriptio illcome It.. IJOA and P¢)IF011 publishing costs l¢ss'. PCH mentrrship adTrirLiStrHtion costs less.. AOA administratton costs 251,758 261,511 246.201 253.404 250,629 (87.1707) {98.493) {I(K),7081 191,] 16) 194.3671 {118.%3) 45,788 1114,835) 48J83 1130.6121 14381 {146,318) 15,970 (173,4631 1172011 Colliributiou to ov¢rhe2d5 Surplu5 on m¢¢titi8s in¢ludAng sp)Dsorthip Rearth gralltspayable Trav¢1 gnd Outrea¢h Meetitigs ants payable Burwies 40,705 60,643 9Y)J63 24,279 189,669) 13.157 (18,056) (9,J15) (2,192) 121,9801 136,3241 12.0001 17501 {3,350) {i.0001 (1.000) {3.5001 fjrgnts WTitt¢n b%k 2,62S 842 48.472 Dollations payable Contributiom to overhud5 22.649 48,414 66,633 {65,548} 19,805 Oth¢r 126137 l51.185 135,863 116,433 111,466 Net illtome before other e%pouditure 195.274 247,782 217,377 66,855 13fi670 Amortisation (20,933) {55,488) (58.9311 Managemen( adminIration 8overJwice l%et suiplllsl(deficit) for year (excluding gaims on investments) (59,6511 13S,623 184.003) 11(J2,907) 93537 {233,001) 1221,634) {132,7331 1549941 163,779
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) REPORT OF THE EXEcvfivE COlVlMrrTEE (CONTINUED) YEAR D 30TII SEIryEMBER 2025 P8ge 7 lllvestmellt Po]iry The OAA'5 investtnent policy is to manage its porrfolio on a medium-low risk basis. seeking long-terffl capital growth while avoiding investment in wmpante5 Ivhose primary business involves tobacco. gambling or arniaments. For the year ended 30 September 2025 th¢ portfolio achieved a net return of 8.45Y• (2024: 11.55Yo' 2023: 2.49/0). The investment portfolio? managed by Charles Stanley. hold5 an MSCI ESG rating of A. The F.xe¢utive Committee has unrestricted powers of inv¢stJnent and invests funds surplus to immediate operational requirements. Charles Stanley acts as discretionary investment manager. Re5erYes Policy OAA maintains unrestricted reserYe5. a proportiotL ofivhich is designated to fund research and grant awards. The value of grant cotnmittnents varies annually according lo the nun]ber and quality of applications. Th¢ grant pl.0aMMe is regularly Teviewed to ensure fidS are used effectively to improve patient ¢ar¢ and r¢main financialty sustainable. RescTves aTe held 10: - meet existing ¢ommitments during income flvctuations - supwirt strategic projects aligned with the OAA'S charitable objectives - protect the organisation from e¢onDmic uncertainty Economic conditions following (he COVID-19 pandetnic, ongoing gIobFd instability and inflationary pressures have increased uncertainty in event income and membership affordability. As the OAA relies prinrIlY on subscriptions andeducational event surpluses, reserves provide ¢ss¢niial financial stability- In summer 2025 the Association of Anaesthetists gave 12 months, noti¢¢ that it would cease providing administrative and event management services. The OAA has app)inied Adapta Consulting (UK) Io assist in procuring a ffpla¢¢nient provider. During this Iransilion pBriod reserves provide opei'ational 5ewrity. Unrestricted funds have abo been used to: - meet grant ConlI1ents and adniinistrative costs - fvnd a digital platform upgrade (compl¢t¢d f¢briiary 2024" now amortised annu&lly) - support inle17tiondI edatIOn and quality improvement partnerships Following completion of the digttal transfornthtion project. cashAow nianagem¢nt is being reviewed to optimis¢ retums on ¢ash balances. The Trustees aim to maintain unrestricted reseryes sufficient to fund >5 year5 of core expenditure and reseatch ¢ommitm¢nts without 5urplu5 income, equivalent to approximately £l.Om41.5m. This reflects uncertainty An fi]ttwe course income and membership levels. Th¢ ws¢rve5 policy ivill be reviewed if in¢om¢ bDIIIeS con5lStently moTe predictable.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) REPORT OF THE EXECUTIVE COMMITTEE (CONTINUED) YEAR Ef4DED 30TH SEPTEMBER 2025 Pag¢ 8 Risk Management The Executive Committee regularly reviews organisationa] risks with support from th¢ SecrelarRat. External consultan¢y (Adapta) previously reviewedgoyernance and GDPRcotnpliance. Implementstion of a new rnembership and event CBM system has strengthened dat& protection proccsses. The most significanl current oper8tionaJ risk is the transition to a new administrative and event managem¢nt provider. The Trustee5 are m8n&ging this through external consldtsncy support and transition planning. Future Plans The OAA intends to ¢ontinue operating tbrough membership sllbscriptions and educational activities in sUPrt of its ¢h8riiable objective.. improving the safety and quaiity of obsletsi¢ anaesth¢tic care for mothers, birthing people and babies. Planned priorities include: - maintaining education and training Proan)m¢S - developing clinical guidance and resources - supporting rese atld quality improvement initiatives - promoting inclusion of obstetTiC aesthetiC data within nationaI maternity datasets - coJnpleting transilion to & new athninistrative se1¢e provider The adrninistrative transition presenis sh()rt-term uncertainty. but the Trustees consider the OAA financially stable and able to continue operating eff¢ctiv¢ly. Statement of Truste&s r£gponsibilities The truste¢s (who are also directors of the OAA for the purposes of wmpany law) are responsible for prepillg ihc Trustces, Annuaj Report (including the Strategic Report} and th¢ financial statements in accordance with applicable law andunited Kingdom Accounting Standards (United Kingth)m G¢n¢raily Accepted A¢¢ollnting Practice)- Company law requires the TneeS to prepare fmancial statetnents for each fancIal year, wl)i¢h give a true and fair view of the state of affairs of the charitable company and of the inming resources and application of resources. in¢luding the income and expenditure, of the charitable Company for that period. Ill preparing these financial stat¢m¢nts. th¢ Trust¢es are required to: select suitable accounting policies and then apply them consisÉently' obsetve the methods and principles in the Charities SORP 2019 (FRS 102)" make judgements and estimates that are reasonable and prudenl" stste whether applicable UK Accounting Standards have b¢¢n followed. subject to any aterial departures disclosed al explained in the financial stttementg. pr¢pare the financial statements on a going concern basis unless it is inappropriate to presume tlLat the charitable comp8J)y will c¢Jnlinue in operation. The Tn]stees are responsible for keeping adequate arcounling Tecord5 that disclos¢ with reasonable accuracy at any time th¢ fitwcial positiDn of the ¢harilable company Imd enable them to ensure that the fmancial stst¢ments comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen¢e for taking reasonable steps for the prevention and dettion of fraud and other irregularities.
OBSTETRIC ANAEsfHETISTS ASSOCIATION (A Company Limited By Guarantee) REPORT OF THE EXECUTtVE coivIMirfEE (CONTINUED) YEAR ENDED 30TH SEPTEMBER 2025 Page 9 Provi510ll of information to Auditors Each Executive Committee member. At the time of approving this report, has confllmed Éhat: so far as that committee memb¢r is awaTe, there is no relevant audit iDforn)ation of whi¢h the chaTitsble ¢ornpany'5 auditor5 are unaware" and they have taken all steps that ought to have been taken as a ¢ommittee memberto be aware of any informationneeded bythe charitable company's auditors in connectionivith preparingtheir r¢port and to establish that the charitabl¢ Compa'S auditor5 are aware of that infonnation. Auditors Th¢ audiiors. M(K)re (South) LLP, will be proposed for reappointment in accordance with section 144 of the Charities Act 2011. Thi5 report has been prepared in accordance with the Statements of Recommended Pra¢ti¢c AccouThting and Reporting by Charities. In pr¢p]ng this r¢pvrt, the directors have taken advantage of the small companies exemplions provided by section 415A of the Colnpanies Act 2006. Approved by the tn]stees on 22 June 2026 artd signed on their behalf: Dr Yavor Metodiev Obstetric Anaesthelists, As$0¢iation 21 Portland Place London WIB IPY
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Compally Limited Bv Guarantee) INDEPENDENT AUDrroRS REPORT TO THE MEMBERS YEAR ENDED 30TH SEPTEMBER 2025 Page 10 Opinion We have audited the financial statements of Obstetri¢ Anaesthetists Association (the 'charitable company,) for the year ended 30 September 2025 which ¢ompTiS¢ Statement of Financial Activities, Balan¢¢ sheet. Cash Flow StatemenL and related and notes to the financial ststen)ents, including a summary of significant accounting policies. The financial reporting framework that has been applied in their PTeparalion is appli¢able law ajid United Kingdom Accounting Standords, including Financial Reporting Standard 102 the Finonci Reporting Standard applicablg in the UK ond R¢publi¢ of Ir¢land (United Kingdom Generally Accepted A¢¢ounting Pra¢tic¢). In our opinion the fllLancial statements.. give a true and fair view of ihe state of the ch8ritable compally's affairs as at 30 September 2025, and of its incoming resouTce5 ¥JKi application of resour¢es. including its income and expenditure, for the year then ended. have b¢¢n prop¢rly prepared in accordance with United Kingdom Generally Accepted A¢¢ouuling Practice. 2nd have b¢en prepared in accordance witlL the requirements of the Chariiies Act 2011. Ba515 for OPiUiDll We conducted our audit in accordance with Internation standds OIL Auditing (UK} (ISAS (UK)) and applicable law. Our responsibilities under Ihose standards are further dCribed in the Auditor's responsibilities for the audit of the financial statements s¢¢tion of our r¢port. We we independent of the charitable company accordance with the ethical requirements that aye relevant to our audit of the fU]GIal statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan¢t with these requirements. We believe that the audil evidence we have obtained is sufficient and appropriat¢ lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have ¢on¢lud¢d that the trustees, use of the going concem basis of a¢counting in th¢ preparation of the fllwicial statements is appropriate. Based on th¢ work we have perfornied. we have not identified any material wicertatnties relating to events or conditions that, individL11Y or collectively, may signifioant doubt on the charitable company's ability to ¢ontinue as a going concern for a period of at least rwelve months from when the f]nancial statements are authorised for issue. Our responsibilities and the responsibilities of the trLLStees with respect to going cort¢em are described in the Televant se¢tions of this report. OtheT iDforniatio The other inforniation Comprises the inforniation included in the annual reporL other than the financial statements and our auditor's r¢port thereon. The truste are responsible for the other information. Our opinion on the fitthncial ststements does not ¢ov¢r th¢ other infomation andwe do not express any fomi of assurance conclusion thereotL. ItL connecLTon with our audit of the financial statements. our responsibility is to read the other infomiation and, in doing so, consider whether the other infornation is materially ifLconsistent with the financial statements or our knowledge obtained in the Course of the audit or othenvi5e appears to be materially Tnisstated. If we identify suoh material An¢onsist¢ncies or apparent material rnisstatements, we are required to detenninewhetherihis gives rigeto &m8terial misstatement in the financial statements themselves. If, bed on the work we have p¢rfomi¢d. we ¢onclude that there is amaterial misstatement of this other inforniation, we are required to report that fact.
OBSTETRIC ANAESTHETISTS ASSOCIATION {A Cojnpany Limited By Guarantee) INDF.PFNDvNf AUDITORS REPORT TO THE IVIEMBERS (CONTINUED) Page I I YEAR ENDED 30TH SEpfEMBER 2025 Other iDforniAtion (continued) We have nothing to report in this regard. Matters on whieh we are required to report by eIception W¢hav¢ nothing lo report in respect of the following mattersin relation to which the Charities (Accounts and R¢potts) Regulation 2008 require us to report to you if. in our opinion: the infomiation given in the trustees. report 15 inconsistent in any materia] respect ivith the financial statements. or sufficient accountinu records have not been kept,. or the financial ate]nentS are not in agreement with the accounting records; or Ive have not rrfeiyed all the information and explanations we requirc for our audit. Responsibilities of trustees As explained more fully An the trust¢¢S' T¢spoll5ibilitie5 ststement set out on page 8, the tntee$ (who are also the directOTS of the charitable company for the purposes of compatw law) are T¢sponsible for the preparation of tlie finan¢iiil slalements and for being satisfied that tlley give atrue and fair view. and for such internal eontrol 8S th¢ tr1ceS determiiie 15 necessary to enable the prcparntion of financial slatements that e free from material misststement, whether du¢ to fraud or error. tnpreparing the fil)etaI statements, the truslees are responsibl¢ foras5¢55ing the charitable company's ability lo continue as a going concern, disclosin& as applicable, Matte related to going con¢em and sing the going concern basi5 of accoiinting unless the trusl¢¢b either intend to liquidate ihe charitable company oi. to cease opei'ations, or have no realistic alternative bul to do so. Auditor'$ re$ponsibilities for the audit of the ffftillcial Jtalcments Wehave been appointed as auditor undersection 144 of the Charities Act2011 andreport in a¢¢ordance with the Act and relevant regulations mad¢ QT having effect thereunder. Our objectives ar¢ to obtain reasonable assurance aboutiyhether the fmaneial stAtem¢nts a5 a whole are free from material misstatenient. Ivhether due to fraud or error, and to issue 8n auditor's rcp(Trrt that i[udeS our opinion. Reasonablc assurance Ès a high level of assuranc¢ but is not a guarantee that an audit condueted in a¢¢otdance with ISAS (UK) will always detect am&terial misstat¢ment when it exists. Misstatements can arise from fraud or em)r and are COAldered mat¢rial if, individually or in the aggregate, Ih¢y could reasonably be e.xpected to infiuence the economie d¢cisioTrs of users laken on th¢ basis of these financial statements. A further dtwription of our responsibilities for th¢ audit of the financial ststements is located on the Financial Reporting Coiincil's ivebsite at: www.frc.org.uklaudilorsrestM)nsibilities. This description fornis part of our auditor's report. ITregularities, including frau¢L are instances of non-compliance with laws and regulations. We design pro¢edures in line with our responsibiliti¢s. outlined abuve, to detect material misstatements in r¢spe¢t of irregularities. including fraud. The ¢ellt to which our procedur¢s are ¢apabl¢ of dciccting iwdarities. including frdud is delailed below.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) INDEPENDENT AUDfroRS RFPORT TO THE MEMBERS {coNfINUED) Page 12 YEAR ENDED 30TH SEFfEMBER 2025 Eiplanatioll as to what extent the audit w*s eotssldered ¢aPAble of dcteetlng irregularities, Aoeludltsg fraud The objectives of our audit in respect of fraud, are. to identity and &qsess the risks of material misstatement of the finan¢ial ststements due to fraud- to obtain sufficient appropriate audit evidence regarding the assessed risks of rnalerial inisstatment due to fraud, through designing and implementing appropriate responses to ihose assessed rkS,. and io respond appropriately to inslanb vf fraud or suspected fraud identified during th¢ audit. However, the primary re5poDsibility for the prevention and detection of fraud rests with bottL management and those charged with governance of the charitable ompany. Our approa¢h was follows: The engagement partner selected staff for the audit who had appropriate knowledge of the client and who had th¢ required ¢otnp¢t¢nce and skilts to be able to identify or recognise non-compliance with laws and regulatio. We assessed ihe risk of irregularities as part of our audit planning> and ongoing Teview, including those due to fraud, management override was identified as a signifi¢anl fraud risk. This is due to the ability to bypags ¢ontrols through inappropriate expenditure and a¢¢ounting policies adopted. The entity awar(ts grant fiding, the correct inclusion of which w&$ identified as a significant risk due to the risks soCialed completeness and cul off of expenditure. We obtsined an understanding of the l¢gai and regulatory requirements applicable to the eharity and we ¢onsidered the most SI)ifICant to be Ch&rites Act 2011, the Charity SORP, and UK fman¢ial reporttng standards as i59ued by the Finan¢ial Reporting Council. We considered how the charitable comp&ny complies with these requirem¢Thts by discussions with manLcpement and those charged with govemance. We enquired of management and tbose charged with governance as to any known instan¢¢s of non- compliance or swpected non-compliance with laws glld regulations. Consideration was also made of the internal controls in pla¢e to o)itigate the identified risks. We assessed the control environm¢nt, documentingthe systems, Controls 2nd processes adopted. 'tThe audit approach incoryorated a combination of controls ithere appropriate, analyli¢al review and substantive proccdures involving tests of transactions and balances. Any irregularities noted were discussed wilh mallagement and addAtional corrnbordtive evidence was obtained as required. To address the risk of fraud through llLanegeniat ov¢ttide we.. p¢rfonned analytic procedures to identify any unusual or unexpected rel&tionsbips' tested journal entries to identify any unusual transa¢tions', tested items of expenditure to 8Ure that they were valid and appropriate" assessed whether judgements and assumptions made in deternining the accounting estimates were indicative of potential bias. ar reviewed the disclosures within the financial statements to ensure they meet the requirem¢nts of the accounting stendards and relevant legislatLQII.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Compally Limited By Guarantee) IIIDEPENDENT AUDITOIiS REPORT TO TIIE MEMBERS (CONTINUED) Pag¢ 13 YEAR ENDED 30TH SEPTEMBER 2025 ExplaDatioD #s lo what extent the audit was eonsidered ¢#pable of detecting irregularities, including fraud (eontiDued) In response to the completeness and but off of grant expenditure ive-. obtained a listing of grants payable duringthe period ensuring they were appropriately reflected with the financial statements. obtained third party ¢onfirniation of receiN to ensure that the grant has been made to a bona-fide individual or entity. revi¢i¥¢d conditions attached to research grants ensuring that colit10nS have be¢tt met prior to recognition within the fEnancial stal¢menls' and reviewed minut&s of meetings to en$ that all grants committed have been included with the fiik2ncial st&tements. There are inherent limitations in our audit procedures described above. Th¢ JllQTe MoVed that laws and regulatiow ar¢ from r]nancial transactions. the less likely it is that we 3Yould become awar¢ of non- compliance. Auditing standards also limit the audit proc¢dures required to identify non-compliance iyith laivs and r¢gulalivns to enquiry of the directors and other management and the inspection of regulatory and legal corrc5pondence. if any. MateTial mis5talements that arise due to fraud Can be harder to detect than those Ihat arise from eor as they may involve deliberate cotLcealm¢nt or Gollusion. Use of our report This report is made solely to the charitable company's tnislees. as a body. in a¢cordan¢e wilh Part 4 of the Charities (Accounts and Reports) Rcgulalions 2008. Our audit work has been undertaken so that we might state to the charttable ¢ompany'5 TteeS those matters which ive are required to state to th¢m in an auditor's report aiid for no other purpose. To the fullest extent p¢rtThitted by law, we do not accept or assume tresponsibility to any party other than the charitable company. the charity's Trusl¢es. as a b(Kiy, for our audit iyork, for this report. or for the opinion we have fornied. èa/ Moore (South) LLP Chart¢red AG¥ountants Stathtory Auditor City Gtttes 24 Southgate Chi¢h¢51er West Sussex P019 8DJ Date 24 June 2026 Moore (South) LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appoinlmenl as auditor of a ¢ompany under section 1212 of the Companies Act 2006.
OBSTETRIC ANAESTHETISTS ASSOCIATION {A Company Limited By Guaraut¢e) STATEMENT OF FINANCIAL ACTIVITIES ncluding Income and Expenditure Account) YLAR ENDED 30TH SEPTEMBER 2025 Page 14 Tr4oto Unrestricted Funds 2025 Restrlcted Fuuds 2025 Total Fullds 2025 Total Funds 2024 INCOME FROM Donations and lega¢ies Charitsble 8CtiYities Other trdding activities Lnv¢stsllent income 22,600 22,600 450,242 328,045 34.050 450,242 328,045 34,050 467,857 336.662 33,175 Tot*1 income 812.337 22,600 834,937 837,694 LXPENDITURE OTr4 Raising fund5 Charitable a¢iivities Other 11,652 840,427 15,252 11,652 863,027 15252 10,870 ,033,927 14,531 22.600 Total expenditure 867.331 22,61)0 889,9J I 1,059,328 Nel gains on investments 15 83,238 107,085 Net incorning resources 28.244 28.244 {114,549) Iyet movement in fuod$ 28,244 28,244 (114,549) Reeolleiliation of fuDds Tot21 funds brouglrt forward 19 1.916.920 1,916,920 2,031,469 Tot#1 Fllnds Carried Forsyard 19 1,945,164 1,945,164 1.916,920 The notes on pages 17 to 27 forni p8rt oftheses fin8nci&l ststements
OBSTETRIC ANAESTHETISTS ASSOCIA'fIoN (A Company Limited By Guarantcc) BALANCE SHELT YEAR ENDED 30TH SEPTEIIIBER 2025 REGISTERED COMPANY NUMBER: 05540014 Page 15 2025 2024 r4ote Fixed assets Intangible asset Jnvestments 14 15 453.960 1,359.516 512,891 ,253,672 1,813,476 1,766.563 Currellt A33ets Debtors Cash at bank and in hand 16 137.448 368,109 136,946 497.264 505.557 634,210 Credi¢or5: Amounts falling due ithin one year Net eurrellt Issets 17 (373,869) (483.853) 131.688 150.357 Total assets less eurrent liabilities 1,945.164 1,916,920 Ch*rity Fund5 Ullrestricted Funds 19 1.945.164 1,916.920 For th¢ year ending 30th Septsmber 2025 the company Trvas entltled to exemption fron] audit under S¢¢tion 477 of the Companies Act 2006 relating to small companies. Hoiyevcr, an audit is reqiiired i accord8nce with seetion 144 of tbe Charities Act. Directors, responsibilities: The metnb¢r$ have SLOt required the company to obtatn an audit of its fiAwn¢Aal statements for the year in question in a¢¢ordance with section 476.. The directors acknowledge their re4K)nsibilities forcomplying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial ststements have been prepor¢d in accordance ivilh the special provisions for small compallies under part 15 of the Companies Act 2006. On behalf of the Board: Dr Yavor Metodiev Honorary TreLsurer Appmved by the Board on 22 JiC 2026. The notes on pages 17 to 27 fonn part of theses financial statements.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By GuArantee) STATEMENT OF CASH FLOWS YEAR ENDED 30TH SEPTENIBER 2025 Page 16 2025 2024 Lyote Casb flows from operatiDg aetivities Net c&sh proNTrded by operating activities 23 (140.599) 4.117 Ca5b IIow5 from illvesting actiirytie5 Dividends re¢eived Proceeds from sale of invesltn¢nts Purch&se of investments Purchase of intyngible fixed asset Net ¢gsh used in investing activities Change in cash and eash equivalents the reportillg period 47,825 (104,484) 178,841 (212,411) (31.855) (22,609) (32,250) (163,208) (28,133) Cash 8md cash equivalents at the beginning of the reporting period Cash and cash equiv#l¢nly at the end of the reptsrtillg period 557.059 585,192 393,851 557,059 Analysis of eash and eAsh equivaleDts 2025 2024 Cash at bank and in hand Cash held by sto¢kbroker 368,109 25.742 497.264 59.795 Total cash aDd ¢qu1vxlet8 393,851 557,059 The notes on pages 17 to 27 fonn part of theses financial ststements.
OBSTFTRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) NOTY.8 TO THF, FINIINCIAL STATEMLfiTS YEAR ENDED 30TH SEYfEMBER 2025 Page 17 ACCOUNTING POLICIES (o) Compauy Status The Company is limited by guaTantee and has no share ¢apilal. The ¢ompany is incorporafrd in England & Wa]es. The directors of the company are the Trte¢S named on page l. In the event ofihe company beingwound up, the liability inrespect of the girantee is limitcd to £1 permember of the company. The address of the registered otYi¢e is given on page l of these financial slatements. The nature of the clwity's operations and principal activities are explain¢d in the Truslees Report. (b) Basls of Pr¢pAratloll The finaneial statements have been ptepared in accordance with Accounting 8Jid Reporting by Charitics: 8tatcmcnt of Rccommended Practice applicable to charities preparing their accounts in ac¢oTdance with the Fitwicial Reporting Standard applic&ble in the UK and Republic of Ireland {FRS102). Charities Act 2011 and th¢ Companies AGI 2006. The financial statements are prepared on a goingconcern basis underthe historical cost convention as modified by the incluslon of inYestJnEnts at niarket value. The financial statements are prepared in st¢rling which is the funciional currency and have been rounded to the nearest pound. The charitable company meets lh¢ defmition of a public benefit entity und¢r FRS 102. A5set5 and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. (¢) Goiug Concern The TnL%tco8 have preydred detailed budgets and fore¢a5ts and on review of these consider that il is appropriate for the funcial statements to be prepared on a going concern basis which assum¢ thatihe Charity will continue to exist for aperiod of at least twelve months from the date the audit report is signed. (d) llleoming Resources Income from Grants is recogntsed when ihe charity has confirniation that the tnonie5 will be received and can be Jneasured with sufficient i'eliabilily. In¢om¢ from Charitable activities includes course registration fees. along with Course and meeting sponsorship And is re¢ognised when the Charity is entitled to the incom¢. Income received for ¢OUTSe5 Post Ye end is deferred. Income from other trading activities includes subs¢ription income which is received for the calcndar year. amounts relaliDg lo periods beyond ihe year end Ireated as deferred income. Royalty inconie is recognised when the Charity AS entitled to the income. it is virtually certain that the resource will be received and when the value can be measured with sufficient reliabAlity. Investment income is acwunled for in the period in which the charity is entitled to rec¢ipt.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guaralltee) NOTES TO THE FINAfiCIAL STATEMEiYrs YEAR Ef4DED 30TH SEPTEMBER 2025 Page 18 AccoufqTING POLICJES (¢ontlDued) (e) Resources Expellded All expenditure is accouttted for on an accruals basis and is &nclusive of irrecoverable VAT. Expenditur¢ is recognised where there is a legal or constructive obligation to make payments to third parties, it IS Probable that the settleme]]t will b¢ r¢quir¢d 2nd the obligation can be measured reliably. Costs of raising funds wmprise the costs directly attributable to m&uaging the investment portfolio activities. Charitable a¢tivities ¥diture ci)rnprises those costs incurred by the ¢harity in th¢ delivery of its actLVities and services for benefjciaries. It includes grants payable which are payments ade to third parties in furtherance of the charitable objectives of the company. Single or ulti-year grants 8re accounted for when either the recipient ha5 a r¢gsonabl¢ ¢xp¢¢tstion that they will receive a allt and th¢ trust¢¢s have agreed to paythe grant without condition, or the recipient has areasonable expectation that they will receive a grant alld ony condition attaching to the gratLt is outside of the control of the Charity. Other ¢xpenditure represents those costs not falling into any other heading. (Q Alloc4tion of Support Costs Support costs are those functLons that assist the work of the charity but do not dIrelY relate to eÉther Cost of ratsing fund5 or charitable a¢tivitic$. These c(Jsts are allocated between the expenditure categories of the Charity on a basis de5igied to reflect the use of the resource. Costs relating to a particujar artivily ar¢ allocat¢d directly whilst others are apportioned on an appropriate basis. (g) Intangible Fixed A3sets Software is initially rccogDised at cost and is subsequently measured c05t less accumulated amortisation. Amortisation is recognised 50 as to write-off the cost less their residual valu&s. over their useful lives. Amortisation policy adopted beina 10 years for software costs (Digital Platforni). (b) Fixed Asset Investments Investtnents are r0]ised initially at cosL which is transa¢lioD price less transaction costs. Subsequently. Ihe invesllllents in¢luded at closing mid market value &t the ba]ance sheet date. Any sain or loss on tevaLuation is taken io the Stal¢ment ofFinan¢ial Activities. (l) Debtors Trade and other debt{> are iecognised at the settleffl¢nt aount du¢. Prepayments are valued at the amount prepaid. (i) Casb #t Bank aDd In Hand CastL at bankknd in hand includes cash and shorttenn highly liquid investments with shortmatiwity of three months or l¢ss from the date of acqui5ilion or opening of the deposit or similar account.
OBSTETRIC AINAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) NOTES TO TIIE FINANCIAL .8TATVMFNTS {COlNUED) YEAR ENDED 30'1H SbYIEMBER 2025 Pag¢ 19 AccouiYfiNG POLlCtFS {eoDtinue(D (k) Current Asset Investments Current asset investments include cash or ch equiv81ents with a maturity of greater than lhe onlhs but than one y¢ar. from th¢ dul¢ uf acquisition or opening of the deposit. O) Creditors Cr¢ditors and provision5 are recognised where the charity has ti present obligation r¢sulting from a past event that iyill probAbly result in the transfer of funds to a third party and the 8mount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are llonnally recognised at their settlement amount after allowing for any trade discounts due. {Jll) Financial Instruments The Charity only has fllwicial oss¢ls aThl financial liabilities of a kind that qualify &8basic financisl instruments. Basic financial instrum¢nts are initially reCognid at tran5adion value and subsequently rn¢&sur¢d at their 5ettleillent value. (n) Forelgn Ex¢baD%e Transaetions Foreign currency transactions are initially recognised by applying to th¢ forcign currency amount the spot exchange rate behyeen the functional currency and the foreign cun'ency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balance she¢l date are translated using th¢ closing Tat¢. (o) Funds Unrestricted funds are donations and other income resources receivable or generated for the objects of the charity without fth*her specifsed purpose and are available as genernl fund5. DesIted funds are unrcstrtcted fimds earmarked by the Executive Committee for particular purposes. Digital Platfornl - thi5 fund has been set up to specifically dogignate llds allo¢at¢d to the digital plarforn) projecL The cost of the project is lunded by T¢ra1 funds. Reblriil¢d fund5 are to be used for specific purposes laid doivn by the donor. Expenditure which meets these criteria is charged to the fimd, together withaf2iralloeation ofmanagement and sury>rt costs. iv. (p) T4s#tio The charity is an exempt charity within the meaning of schedule 3 of the Charilies A¢i 2011 and s considered to pas$ lh¢ IEs1s s¢t out in Paragraph I Schedule 6 Finance Act 2010 8nd th¢refor¢ it meets the definition of a charitable company for UK corporation lax purposes. JUDGEMENTS ATr4D KEY SOURCES OF ESTIMATION ulycERTAqTy In the application of the charitable company's accounti policie4 the Trustecs are required to make judgements. cstimates and gssumptions abo the carrying amount of assets and lTrabiltiie5 that are not readily apparent from oiher sources. The estiinates and associated as$utnptions are b&sed on historical experience and other factors that are consid¢red tt> be r¢levant. Actual results ay diff from these estimates. The estimates and underlying SuMptIOnS are reviewed on an ongoing basis. Revisions to Accowiting estimates recognised in the period which th¢ eblimale is revised where the revision affects onlyihatperiod, or inthe period ofthe revision and futUTeperiods where the revision affects both CWTent futtTrre periods. The TrteeS do not believe theye are any significant judgements or estimate&
OBSTETRIC ANAESTHETISTS ASSOCIATION {A Company Limited By Guarantee) NOTES TO THE FINANCIAL STATE1ENrs (CONTINUED) YEAR EfADED 30TH SEPTEMBER 2025 Page 20 DONATIONS AND LEGACIES Unrestrlcted Restrleted 2025 2025 Total 2025 Total 2024 Grsnt Aneome 22,600 22,600 INCOIVIE FROM CHARfTABLE ACTIVITIES 2025 2024 Cours¢ registration fees 450,242 467,857 All income from charitsble activities An 2024 and 2025 was unrestricted. INCOME FROM OTHER TRADING ACTIvrriES 2tr25 2024 OAA subscriptions Royalties Other income 250,629 76,996 420 253,404 82,868 390 328,045 336,662 All income from other trading activitie5 in 2024 and 2025 was unrestricted. INCOME FROM INVESTMENrs 2025 2024 Dividends 34,050 33,175 Ail income from investments in 2024 and 2025 was unrestrictsd. RAISING Fuf4DS 2025 2024 Investment Manager fees 11,652 10,870 All expenses for raising funds in 2024 and 2025 was unrestricted.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) NOTES TO TIIE FINANCIAL STATF.MF,NTS {CONTINUED) YEAR ENDLD 30"IH SLYTEMBER 2025 Page21 & D£cr CHARrrABLE FXPENDTTURE 2025 2024 Courses 2nd meeting expenses Inlenialional Journal ofobstelric Atiaeslhesia and P¢ncil Point Newsletter Website Grants (note I l) External conference costs Professional services Support ¢osts (nole 10) Amortisation 437.085 443,578 94.367 20.451 (6,648) 1,909 42,000 214,932 58.931 91.116 36.509 89.827 9.311 126.000 182.098 55,488 863.027 1.033.927 Restricted (course meeting expenses) UnrestTiCted 22.600 840.427 1.033.927 863,027 1,033.927 OTHER EXPETqDITURE 2025 2024 Audit fees A¢countan¢y fees Under &ccrued An previous year Awards 13.936 941 io.iio 2.310 1.071 1.040 375 15,252 14.531 The costs above relate to the governance costs of the charity. All governance costs for 2024 and 2025 were unrestricted. 10. SUPPORT COSTS 2025 2024 Postage and stationery Bank aTLd credit card chaTges Committee meeling expenses Membership adniinistration 167 19.380 16,233 146,318 16,174 25,288 173,463 214,932 182,098 All support costs in 2024 and 2025 were unrestricted.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Compally Limited By Guarantee) NOTES TO THE FINANCIAL STATEMENfs (CONfiNUED) YEAR ENDED 30TH SEpfEMIIliR 2025 Page 22 11. GRANTS PAYABLE Thes¢ constitute ¢ommitments made An the yegr 2025 21)24 Research gratts Bursaries Trnvel antS 36.324 3,500 2,000 89,669 1,000 Totsl allts payable Monie5 retumed 41,824 (48,472) 90,669 (842) Total gratLts (6.648) 89,827 Allr¢search grants are madetorese2rch te2ms, bursaries and travel grants are inad¢ to individuals. Grants to Institutions University ofEdinburgh Royal College of Praethestists 16.3?4 20.000 36.324 During the ye8r the unspent allts of £210 (2024- £842) was repaid by one IwtitLLlion. All grants to institutions ire made for research irLto the care of mothers and babtes in line with their objective5. GrOj to individuals ar¢ to aLtow practilioners from developing countries to attend workshops and educational courses to improve the care they provide. who oth¢rwise do not have the rtLeans to be able lo attend. 12. EXECUTIVE COMMITTEE cosrs Th¢ Bxecuiive Committee rnembets or persons with whom they have family or business connections have not received remimeration, dire£dy or indirectly* from the charity. During the p¢riDd expenses were reimbursed to members of the Executive Committee a5 follows: 2025 2024 Travel and subsistence costs Yefunded to 18 members (2024- 15 members) 14,114 13,655 At 30 September 25 there was £765 in creditors (2024- £228).
OBSTETRIC ANAESTHETISTS ASSOCIATION {A Company Limited By Guar8ntee} NOTF.S TO THE FINANCIAL sTATElE1Ts (coi¥rriNUED) YEAR ENDED 30TII SEFfEMBER 2025 Page 23 13. STAFF COSTS The Charity has no employees. 14. INfANGIBLE ASSETS Sof¢TrYare COST Bought forward Additions year 589,312 Carried forward 589,312 AMORTISATIOTrI Bought fonvard Charge for year 76.421 58,931 Carried forward 135.352 NET BOOK VALUK As at 30 Sepl¢mber 2025 453.960 As at 30 September 2024 512.891 202S 2024 Opening market value I.193,7 ,053.222 Additions Disposals 104.484 (47,825) 211411 (178,841) 1,250,536 83,238 1,086.792 107.085 Total gain on revaluations and disposa15 Closing market valiie 1,333,774 J,193.877 avatlable to inY¢st 25.742 59,795 Total of investments 1,359,516 1,253,672
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) NOTES TO THE FINAF4CIAL STATEMENTS (CONTINUED) YEAR ENDED 30TII SEPTEMBER 2025 Page 24 15. INVESTMEi¥rrs (coo¢inued) Market Value 2025 Market Value 2024 Qlloted investmellts Fixed interest Equities PIoperty Alternatives 242,017 924,703 31,648 135,406 206,212 857,506 34,987 95,172 1,333,774 1,193,877 Otber Monies held by investment managers 25,742 59.795 1.359,516 1,25J,672 The investment income derAved from the inv¢stm¢nts listed above. 16. DEFfoRS 2025 2024 Trade debtors Prepayments arLd accrued inco]n¢ 335 137,113 5.391 13 1,555 137,448 136,946 tllcluded in acctued income is £22,600 which is Testricted (2024 - £Nil). 17. CREDITORS: AMouNfs FALLING DUE wfniiN ONK YEAR 2025 2024 Trade creditors Grdnts payable (note 18) Def?ed in¢ome Accrued expenses 6,947 6.325 113,203 235,743 128,582 232,167 134,755 373,869 483,853 Included in deferred in¢ome are amounts of £87,255 (2024 - £74.668) relating to subscriptions received in advance 2s well as course and sponsorship fees of £144,912 (2024- £161.075) relating to post year end events. All brought fonvatd amounts wcrc rel¢ased in the year.
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) NOTF.S TO THE FINANCIAL STATEMETrtrs (coiYrINUED) YEAR ENDED 30TH SEvrt, MBER 2025 Page 25 18. RECONCILIATION OF GRANT COlVIKtTMENTS 2025 2024 Balance oiving at 1st October 2024 Commitments made in period (note 10) Payments in periiMI Written ba¢k 113,203 41.824 (106.555) {48,472) 50.642 90,669 (28,108) Balance oiytng at 30th September 2025 (note 17) 113.203 Written back NtAA research grant (£48,262) relates to previously recognised grant commitjnenls that are no longer payable following r¢esSment of project requirements. 19. uTrfRESTRtCTED FUNDS Desigtuted Fu&ds General Fund Total Infrastructure Fulld Crants Digital Unrealised FuDd Platforn Gains on IDves*menls At 1st October 2024 Net incomingl(outgoing) resources for the period belore net gainsl(IDss) on investments Amortisation of itrtati8I)le asset Transfer grants co]llEtiilted period TraD5fer of fidS as designated grants Total loss OTh r¢valuations atid disposal of inveStent ass¢ts 150,000 809.982 512.891 443,690 357 1,9l6.920 (54.994) (54,994) S8,931 (41.824) 19,218 (58.931) 41.824 (19218) 83,238 83,238 At 30th September 2025 150,000 832,588 453.960 526.928 (18.312) 1.945.164 Unrestricted funds at 30 September 2024 Designated Funds Gentyal Fund Total Infrastructure Fund Grants Digital UDrealised Fund Plaiform Inve5tmellts At I st October 223 Net Incomin{oUtgoIng) resources for the period before net gainsl{10&8) on investments Addition of intallgible asset AoLOrtisation Of intangible asset Transfer grants coDullitted i period Trdnsfer of fi]nds as desigDated grdnts Total 105s on revahtio1Is and disposal of invesltnent assets 150.000 787,418 536.524 336.605 220.922 2,031,469 (221.634) (221,634) (3 1.855) 55.488 89.827 (Il2J91) 31.855 (55.488) (89.827) 111391 107.085 107.085 At 30th September 2024 150.000 809,982 512,891 443.690 357 1,916.920
OBSTETRIC ANAESTHETISTS ASSOCIATION (A Company Limited By Guarantee) NOTES TO THE FINANCJAL STATEMENTS (CONTINUED) YEAR ENDED 30TH SEPTETrIBER 2025 Page 26 19. UIqRESTRICTED FUNDS {continued) tnfrastru¢ture Fund - this fund has been set up to ensure that the charity has funds available to cover Ihe costs of unforeseen changes in administration CirCustsces. Grants Fund- this fund has been set up io ensw¢ that the charity has set aside sufficient funds to eUre that it can continue paying grants even in a ditri¢uli e¢onomi¢ climate. To tliis end surpluses are r¢8ularly invested by our investment brokers, Chofles Stanley. The aim is to eventually be able to fund future grants out of investment income generated. Digital Platforni- this fund has been set up to specifically designate funds allocated to the digitaI plarforni project. The cost of the project is fAded by general funds. See intangibles asset note l3. 1the general fund is intet]ded to cover operationa] expenses for the next 6-12 months. Expenses relating to courses and meetillgs are llot ¢ov¢red by this fund the course income is designed to cover these costs. The cost of grants and donatiorLS is Govered by th¢ grants fund. Th¢ gene1 fund shows a defi¢iÈ as the jOty of the charity's reserves have been alloeated to designated funds, in parti¢ular the grants fund and accwnulated investment gain5. These balances remain available to support th¢ ChIty'S activities in line with the Irustees, iIltentions. 20. RESTRICTED Fuf4DS 2025 2024 At 1st Ociobsr 2024 Incorning resources- Visit Belfast Outgoing resources 22,600 (22,600} AI 30th S¢ptember 2025 The restri¢ted fund related to an ASM course to be held in Belfast. 21. AIYALYSIS OF NET ASSETS BETWEEN FUNDS Year ended 30 September 2025 InfrAstrue¢llre UDrt*lis¢d Fund gains on (De512Dated) IDe8ignxted) (Dtqignated) Investmets (DesKgDal¢d) Gr•nts Digital General Fmlld Totsl Intangible red assets Invesknents D¢btors Short terln deposits at cash balances Creditors 453,960 453,960 lJ59.S16 137,448 832,588 526,928 137,448 150.(M)O 218,109 368,109 (373.869) (373,869) 150,000 832,588 453.960 526.928 (18.312) 1,945,164
OBSTETRIC ANAE&•THETISTS ASSOCIATION (A Company Limited By Guarnntee) IYOTES TO TIIE FINANCIAL STATF.MF.Errs (CONTINUED) YEAR ENDED 30'1H SEYtEMBER 2025 Pagc 27 21. AfiALYSIS OF NET ASSETS BETWEEN FUNDS (¢ontillued) Year ended 30 September 2024 Infrastrucknre Gr4nls Dlgltsl Unrealised Fllnd Fund Plaéform gains on IDtsigll2ted) (Desigllaled) {DesIgDat1) Investments (Designated) Gelleral Fund Total Intangible fixed assets Inveskn¢nts Debtors Short terni deposits and sh balances CredAtors 512.891 512.891 1,253,672 136,946 809,982 443.690 136.946 150.(MM) 347.264 (483,853) 497,264 (483.853) 150.IN)O 809,982 512,891 443.690 357 ,916.920 22. cOTROLLING PARTY There is no ultimate controlling party. 23. RECONCILIATION OFFIET INCOME TO I¥ET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net illcomel(outgoittg$) for the year Amortisation (Gains)ILoss¢s on investments Dividends received (In¢r¢as¢yDecrease in debtors LDecrvdseylnerease in creditors 28.244 58,931 (83,238) (34,050) (502) (109,984) (114,549) 55,488) (107.085) (33.175) 78,318 125.120 Trlet eash flow from operating activities (140,599) 4.117