British Associatlon of Oral Surgeons (tharity No: 1112164 Company No: 04294946 Report and Financial Statements For the year ended 31 December 2023 111 '￿}e￿NLUzty 18109r2W24 COMPANIES H[￿lse A05 #70 British Association of Oral Surgeons Report of the Trustees For the Year ended 31 December 2023 The Trustees present their report with-trfinancial statements lor the company for the year ended 310ecember 2023. Reference and Administrative Detsils Charity Number: 1112164 Company Number: 04294946 Registered Office: Little Orchard 11 Mostyn Road. Wimbledon. London. England. SW19 3U Bankers.. Royal Bank of scO￿and Secretsry.. Adrian Thorp Trustees: The Trustees seThfjng during the year and since the year-end were as follows". Julie Burke {Presidentl Adrian Thorpe (Honorary Secretsry) Rhian Jones IPresident Elect) Kelly Gillan (Honorary Treasurerl Kandasamy Ganesan Adrian Curtis Judtth Jones Lee Mer￿r Kathryn Taylor Helen Paterson Di￿3 Keshani (Terminated 31 December 20231 Catherine Sternberg (Terminated 310ecember 20231 Tara Renton (Terminated 31 De￿mber 20231 Edmund Bailey Itetminated 31 December 20231 Callum Wemyss (terminated I january 20231 ex Orchard (Temiinated 31 December 20231 Paul Coulthard (terminated 15 June 20231 ice Cameron Trainee Rep (Appointed l January 2024) Sarah Jadun appointed IAppointed l January 20241 Mohamad Samy Darwish {Appointed l January 2024) Tamer Luffi Theodossy (Appointed l January 2024) Daniel Thompson IAppointed l January 20241 BRITISH A5soaATION OF ORAL WRGEONS Report of the Trustee5 For the Year erKkd 31 December 2023 The Trustees of the British Association of Oral Surgeons IBAOSI present their annual report and financial ststernents of the charty for the year ended 31 December 2023. The financial statements comply with the Charities and Trustee Investment Act 2005. the Charrtie5 Accounts Regulations 2006 las amended). the Companies Act 2006. the Memorandum and Articles of Ass￿latIon and Accounting and Reporting by ￿aritieS- Staternent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applical￿e in the UK and Republic of Ireland (Charities SORP FRS1021. Oblectlves and Activities Our purpose is to promote the advancement of education research and the development of Oral Surgery in the British Isles and to encourage and assirt postgraduate education study and research of Oral Surgery by arranging regular lectures and demonstrations. encouraging the publication of artides and promoting the advancement of theory and practice. Achievements and Perfomiance 2023 was the first complete financial year as an independent charity. The overall balances are stable with a net profit of f9992. There was no annual conference during this year and therefore no income generated. This was due to the change of timing of the conference from September to March resulting in a hiatus of 18 months. Otherwise. there was a complete programme of events including the annual teathing and learning course and other stu(ty days. Online webinars continue as they are considered to be a membership benefrt desptte incurf ing a small fee. Membership income remained similar to 2022 as there was no increase in fee and no significant change in membership numbers. Thi5 income covers the baseline costs of running the association. This Cost is significantly lower now that the chartty is independent with a saving of over Iok. Financlal Review The financial statements follow on pages 8 to 12. These 5tstements are prepared in terms of the Statement of Recommended Practi￿ 2005- Accounting and Reporting by Charities and the Companies Act 2006. Reserves Policy BAOS had free reserves at 31 Decernber 2023 of £243,92412022: £233.9321. The Trustees consider that the charity should hold suffiaent reserves to cover six months. running costs to cover unanticipated c05t increases or income deficienaes out with the normal budgetary expertations. Any excess funds will be used by Trustee5 to increase the profile of the Association and to subsidise events with a view to increasing the A550ciation's membership. BRITISH A5soaATIIX4 OF ORAL SURGEONS Report of the Twstees For the Year ended 31 December 2023 Report of ihe Trustees (continued) Plansfor Future Yeaf5 In order to support the development of future researth projects within the specialty, BAOS continues to contribute sk per annum to the RCS Pump Priming Grants. A further investment is in the development of an Oral Surgery specific logbook with RCS at a cost of £21k over 3 years. A significant outlayi but one we feel will benefit the speaalty overall. A membership benefit scheme will be developed to encoura8e retention and expansion of current membership. Refe￿n￿ and Administrative Detalls The information relatin8 to the Br5tlsh Association of Oral Surgeons in contained on page l. The Trustees who seNed during the year and to the date of this report are listed. Strurture. Governance and Management Governing Document British Association of Oral Surgeons is a charitable organisation arKI 15 governed by it5 Constitution dated 26 September 2WI IRe¥ised September 2014). It is a registered charity with the Chartty Commission lor England and Wales. Trustee induction and training New Trustees are briefed on their legal obligations under tharity law, the content of the Memorandum and Articles of Association, the committee and dectsion-making processes and the recent financial performance of the charity. Trusttrs are encouraged to attend appropriate external training events where these will facilitate the undertaking of the role. Orgonist7tion The Board of Trustees administers the charity and meets regularly throughout the year. BRITISH ASSOCIATION OF ORAL SURGEONS Report ol the Trustees Icontinuedl For the Year ended 31 December 2023 Strurture, Governance and Management Icontinued) Risk Manogement The Trustees are satisfied that the major risks to which the charity is exposed have been reviewed and procedures have been established to manage these risks. A strategy has been implemented to protert the overall balance of BAOS by transfer of balances to more than one bank. This adds more protection to funds in the case of bankruptcy. A balance of £75k now resides in an additional savings account and another is being opened to enable transfer of a similar amount. Investment Poliry- BAOS 15 a charitsble company and there are no restrictions or limitations to the investment powers of the Trustees within the articles of association. An on-going review of the BAOS financial position has shown that there is consistently a surplus of funds in the charitys current account. An independent finanoal advisor will be consulted in 2024 to explore management option5 of the existing funds. At this time BAOS Council feels that there should be little or r*0 risk attached to the investment plan. This will be reviewed in the future rf extra funds become available. BRITISH ASSOCIATION OF ORAL SURGEONS Report of the Trustees Icontinuedl For the Year ended 31 December 2023 Staterneni of Trustee< Responsibllftles The Trustees of the Britlsh A5$0ciation of Oral ￿rgeonS are re5pon5ible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practices). Charity law requires the Trustees to prepare financial Statements for eath financial year. which gives a true and fair view of the state of affairs of the tharitable organisation and of the incoming resources and application of resource5, including the income and expendtture, of the charity forthat period. In preparing those financial statements, the Trustees are required to: Select 5uitsble accounting policies and then apply them consistentty: Observe the methods and principles in the Charities SORP: Make judgements and estimates that are reasonable and prudent.- State whether applicable UK Accounting Standards have been followed, subjert to anv material departures disclosed and explained in the financial ststements- Prepare the financial statements on the gohng concern basis unless it is inappropriate to presume that the chartty will Continue buslness Staternent of Trustees, Respon￿*￿IltIeS The Trustees are responsible for keeping proper accounting records which disdose with reasonable accuracy at any time the finanaal position of the charity and to enable them to ensure that the financial statements comply with the Statement of Recommended Prartice 2CMJS- Accounting and Reporting by Charities and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen￿ for tsking reasonable steps f(x the prevention and detection of fraud and other irregularities. By order of the Board Treasurer Kelly Gillan 20 August 2024 BRITISH ASSOCIATION OF ORAL SURGEONS Independent Examinerfs Report to the T￿￿ee5 For the Year ended 31 De￿mber 2023 I report on the accounts of the charty for the year ended 31 December 2022 which are set out in the pages 8 to 12. Respertive ￿ponsibl11t1es of Trustees and examiner The Trustees Iwho are also Directors ofthe company for the purpose5 of company lawl are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 43121 of the Charities Act 1993 {the 1993 Act) and that an independent examination is needed. The charivs gross income exceeded £250.000 and l am qualified to undertake the examination by being a qUalif￿d member of The Institute of Chartered Accountants of Scodand. Having satisfied myself that the tharity is not subjert to audit under company law and is eligible for independent examination, it is my respon5ibiltty to: examine the accounts under section 43 of the 1993 A¢" to follow the procedures laid down in the General Directions given by the tharity Commission under sertion 4317llbl of the 1993 Act,. and • to state whether particular matters have come to my attention. Basls of independent examinerfs ststement My examination is carried out in accordance wth the Gerberal Direction5 given by the Charity Commission Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. ft also includes consideration of any unusual ttems or disclosures in the accounts and seeks explanations from the Trustee5 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair Vie￿ and the report is limited to those matters set out in the statement below. Independent examinerfs $tstement In the course of my examination, no matter has corne to my attention 111 which gives me reasonable cause to believe that in any material respect the requirements.. - to keep accounting records in accordance with section 386 of the Companies Act 2006 and, - to prepare accounts with accord the accounting records arKI comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met, or 121 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Andrew Duffin- Chartered Accountant M 171£2 68 South Trinity Road Edinburgh Au&u ST l04- BRtnsH ASSOCIATION OF ORAL SURGEONS Statement of Financial Artiviiles Ilncorporating Income and Expenditure Account} Forthe year ended 31 December 2023 Notes Unrestrlcted Fun¢ts Totsl 2023 Total 2022 Income and endowments Charitable activities Investments Total 164,464 183 164,647 164,464 183 164,647 324,021 92 324,114 Expenditure Charitsble artivities Total 154.655 154.655 154.655 154.655 299,531 299,531 Net movement in funds 9.992 9,992 24.583 Reconciliation of fvnds Total funds brought forward Total funds Ca￿led forward 233,932 243.924 233.932 243924 209,349 233.932 The results set out in the income and expenditure account above derive wholly from the continuing operations of the companv. All of the artivities listed within 2023 related wholly to the unrestricted fund. BRITISH ASSOCIATION OF ORAL SURGEIYIS Balance Sheet As at 310ecember 2023 Not 2023 2022 Current Assets Debtors.. arnounts falling due within one year Cash at bank and in hand 59.748 227.140 286,814 1.620 235,462 235.462 Current Llabilities Creditors= amounts falling due within one year 42.890 3,150 Net Current Assets 243,924 233,932 Total Assets less Current Liabilities 243,924 233.932 Capital and Reserves Unrestrirted Fund 243,924 233,932 Total Funds 243.924 233,932 The Company is entttled to exemption for audit under section 477 of the Companie5 Act 2006 for the year ended 31 December 2023. The members have not required the Cornpany to obtsin an audtt of its financial statements for the year ended 31 December 2023 in accordance with section 476 of the Companies Art 2006. The Trustees acknowledge their responsibilities for= (al ensuring that the Company keep accounting records whith cornply with Sertions 386 and 387 of the Companies Act 2006.. and Ibl preparing finanaal statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit and loss for each financial year in accordance with the requirements of Sertions 394 and 395 and which otherwise comply with the requirements of the Companies Art 2tM)6 relating to the financial 5tatement5, $0 far as acceptable to the Cornpany. These accounts have been prepared in accordan￿ with the provisions applicable to small companies subject to the Small Companies RegiFne and in accordan￿ with FRS102 SORP. The finanaal 5Litements were approved by the Board of Directors on 20 August 2024 and were signed on its behaw bv.. Treasurer Kelly Gillan BRrrisH ASSOCIATION OF ORAL SURGE0145 Notes to the Flnancial Statements For the year ended 31 December 2023 l. Legal Ststus The Company is limited by Éuarantee and does not have share capitsl. Accordine to the Memorandum of Association of the Company, every member undertakes to contribute to the assets of the Company in the event of its being wound up while they are a member, such amount as to be required and not exceeding £1. 2. Accounting Policles al Basls ol Acwuntin8 The financial statements are prepared in accordance with Accounting and Reporting by Charltles: Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP FRS1021 leffective l January 20151, the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS1021 and Companies Att 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant policy note. bl Income Subscriptions and all other income are stated at the amounts receivable in the year. c) Expendlture All expenditure Is induded on an accruals basi5 and has been directly attributed to one of the financial categorie5 of re50ur¢es expended in the Income and Expenditure Account and Staternent of Financial Activities. The expenditure a150 indudes irrecoverable VAT. d) Debtors Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due. e) Creditors and provlslons editors and provisions are recognised where the charity has a present obligation resulting from a past event that will likely result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their S￿￿ement amount after allowing for any discounts due. ID BRITISH AssoaATION OF ORAL SIJRGEONS Notes to the Flnancial Statements (continued) For the year ended 31 December 2023 2. Accounting Policles Icontinuedl n Taxation No provision for corporation tax is necessary as the company ha5 charitable statu5 and doe5 not trade. The Company suffers input VAT on some of its expenditure which is does not recover. 3. Income from tharitsble activities 2023 2022 Unrestrlcted Fund Membership conferen￿ and courses Journal and video income Other income 130,934 14,160 ii.oio 8,360 164,464 129.130 184,225 9,476 1,190 324,021 4. Inveslments 2023 2022 Bank Interest 183 92 5. Charitable actlvltles 2023 2022 Unrestrlcted Fund conferen￿ and courses Staff costs Council Meetings Oral Surgery Journal Facility costs Professional and legal seTrices Website Computer systems General expenses Bank Charges Membership refunds 11,371 76.073 6.672 17.500 14,027 2.110 2,437 831 20.415 1.633 1.587 154.655 135,888 29,831 6,726 17,500 83.734 7.148 2.328 1.092 6,615 1,981 2,690 299,531 li BRITISH AssoaATION OF ORAL SURGEONS Notes lo the Financial Statements Icontinuedl For the year ended 31 Decernber 2023 6. Debiors 2023 2022 Confereno deposits 59,748 59.748 1,620 1,620 7. Crediiors 2023 2022 Accrua15 Deferred Income 1,050 41.840 42.890 3,150 3,150 8. Statement of Funds At 31 December 2022 Incoming Resources Resource5 Expended At 31 December 2023 Unrestricted Fund Total 233,932 233.932 164,464 164,464 {154.6551 1154.6551 243,924 243,924 The Unrestrirted Fund represents the funds whbch the company is free to use in accordance with its charitable activities. 12