British Association of Oral Surgeons Charlty No: 1112164 Company No: 04294946 Report and Financial Statements For the year ended 31 December 2024
BRITISH ASSOCIATION OF ORAL SURGEONS Report of the Trustees For the Year ended 31 December 2024 The Trustees present their report with the financial statements for the company for the year ended 31 December 2024. Reference and Administrative Details Charity Number: 1112164 Company Number: 04294946 Registered Office: Little Orchard 11 Mostyn Road, Wimbledon, London, England, SW19 3U Bankers: Royal Bank of Scotland Secretary.. Adrian Thorp Trustees: The Trustee5 serving during the year and since the year-end were as follows: Julie Burke (President) Adrian Thorp (Honorary Secretary) Rhian Jones (President Elect Kelly Gillan (Honorary Treasurer) Kandasamy Ganesan Adrian Curtis Judith Jones Lee Mercer Kathryn Taylor Helen Paterson Alice Cameron Trainee Rep {Appointed l January 2024) Sarah Jadun appointed (Appointed l January 20241 Mohamad Samy Darwish (Appointed l January 2024) Tamer Lutfi Theodossy (Appointed l January 2024} Daniel Thompson (Appointed l January 2024)
BRITISH ASSOCIATION OF ORAL SURGEONS Report of the Trustees (continued) For the Year ended 31 December 2024 The Trustees of the British Association of Oral Surgeons (BAOS} present their annual report and financial statements of the charity for the year ended 31 December 2024. The financial statement5 comply with the Charities and Trustee Investment Act 2005, the Charities Accounts Regulations 2006 (as amended). the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Icharities SORP FRS102). Objectives and Actlvltles Our purpose is to promote the advancement of education research and the development of Oral Surgery in the British Isles and to encourage and assist postgraduate education study and research of Oral Surgery by arranging regular lectures and demonstrations, encouraging the publication of articles and promoting the advancement of theory and practice. Achievements and Perfomiance There has been continued financial stability throughout 2024 with an overall increase in balances of over 45k. Significantly, membership numbers and therefore income derived from membership has increased by almost Iok. The Annual Scientific Conference generated an overall income of 60k. Independent management of facilities and staffing have resulted in a 9k annual saving. Financial Review The financial statements follow on pages 8 to 12. These statements are prepared in terms of the Statement of Recommended Practice 2005-Accounting and Reporting by Charities and the Companies Act 2006. Reserves Policy BAOS had free reserves at 31 December 2024 of £246,525 {2023: £243,932). The Trustees consider that the charity should hold sufficient reserves to cover six months, running costs to cover unanticipated cost increases or income deficiencies out with the normal budgetary expectations. Any excess funds will be used by Trustees to increase the profile of the Association, to carry out national audit projects to improve patient safety and quality assurance in Oral Surgery and to subsidise events with a view to increasing the Associations membership.
BRITISH ASSOCIATION OF ORAL SURGEONS Report of the Trustees (continued} For the Year ended 31 December 2024 Plansfor Future Yeur5 Due to rising costs, we would expect the conference expenses to increase si8nificantly in 2025 and 2026 which will undoubtedly result in an overall105s of revenue. Contingency for thi5 will be discussed with Council to explore income generating strategies. Council has decided to invest 35k of the overall association's balance in a wealth management portfolio with the dual purpose of distribution of funds and potentially generate a modest return. Reference and Administrative Details The information relating to the British Association of Oral Surgeons in contained on page l. The Trustees who served durin8 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 and is 8overned by its Constitution dated 26 September 2001 {Revised September 2014). It is a registered charity With the Charity Commission for England and Wales. Trustee induction and troining New Trustees are briefed on their legal obligations under charity law, the content of the Memorandum and Articles of Association, the committee and decision-making processes and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external trainin8 events where these will facilitate the undertaking of the role. Orgonisation The Board of Trustees administers the charity and meets regularly throughout the year. Risk Management The Trustees are satisfied that the major risks to which the charity is exposed have been reviewed and procedure5 have been established to manage these risks. A strate8y 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 £41k now resides in an additional savin8s account and a low risk investment is being looked at.
BRITISH ASSOCIATION OF ORAL SURGEONS Report of the Trustees {continuedl For the Year ended 31 December 2024 Structure, Governance and Management (continued) Investment Policy BAOS is a charitable company and there are no $trIctl0n$ 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 charity's current account. At this time BAOS Council feels that there should be little or no risk attached to the investment plan. This will continue to be reviewed. ststement of Trustees, Responsibilities The Trustees of the British Association of Oral Surgeons are responsible 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 each financial year, which gives a true and fair view of the state of affairs of the charitable organisation and of the incoming resource5 and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently: 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, subject to any material departures disclosed and explained in the financial statements,. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue business Statement of Trustees, Responsibilities The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Statement of Recommended Practice 2005- Accounting and Reporting by Charities and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. By order of the Board Treasurer Kelly Gillan 7 July 2025
BRITISH AssoaATION OF ORAL SURGEONS Independent Examinerfs Report to the Trustees For the Year ended 31 December 2024 I report on the accounts of the charity for the year ended 31 December 2024 which are set out in the pages 8 to 12. Respectlve responsibilities of Trustees and examlner The Trustees (who are also Directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The Trustees considef that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. The charitvs gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants of Scotland. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under section 43 of the 1993 Act; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43{7)Ib) of the 1993 Act; and to state whether particular matters have come to my attention. Basis of independent examinerfs statement My examination is carried out in accordance with the General Directions 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. It also includes consideration of any unusual items 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 fairVie and the report is limited to those matters set out in the statement below. Independent examlnerfs ststement In the course of my examination, no matter has come to my attention {1) 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 26 and, - to prepare accounts with accord the accounting records and 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 {2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. /-?_ L ,). { Andrew Duffin- Chartered Accountant M27162 68 South Trinity Road Edinburgh 17VK jul ?olS
BRITISH ASSOCIATION OF ORAL SURGEONS ststement of Flnanclal Activities {Incorporating Income and Expenditure Account) For the year ended 31 December 2024 Notes Unrestricted Funds Total 2024 Total 2023 Income and endowments Charitable activities Investments Totsl 399,746 188 399,935 399,746 188 399,935 164,464 183 164,647 Expenditure Charitable activities Total 354,388 354,388 354,388 354,388 154,655 154,655 Net movement in funds 45,547 45,547 9,992 Reconclllatlon of funds Total funds brought forward Total funds carrled fornvard 243,924 289,471 243,924 289,471 233,932 243,924 The results set out in the income and expenditu account above derive wholly from the continuing operations of the company. All of the activities listed within 2024 related wholly to the unrestricted fund.
BRITISH ASSOCIATION OF ORAL SURGEONS Balance Sheet As at 31 December 2024 Notes 2024 2023 Current Assets Debtors: amounts falling due within one year Cash at bank and in hand 107,920 212,796 320,826 59,748 227,140 286,814 Current Liabilities Creditors: amounts falling due within one year 31,355 42,890 Net Current Assets 289,471 243,924 Total Assets less Current Liabilities 289,471 243,924 Capital and Reserves Unrestricted Fund 289,471 243,924 Total Funds 289,471 243,924 The Company is entitled to exemption for audit under section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the Company to obtain an audit of its financial statement5 for the year ended 31 December 2024 in accordance with section 476 of the Companies Act 2006. The Trustees acknowledge their responsibilities for: (a) ensuring that the Company keep accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and (b) preparing financial 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 Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as acceptable to the Company. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the Small Companies Regime and in accordance with FRS102 SORP. The financial statements were approved by the Board of Directors on 5 December 2024 and were signed on its behalf by: Treasurer Kelly Gillan
BRITISH ASSOCIATION OF ORAL SURGEONS Notes to the Financial statements For the year ended 31 December 2024 l. Legal Ststus The Company is limited by guarantee and does not have share capital. Accordin8 to the Memorandum of Association of the Company, every member undertakes to contribute to the a55ets of the Company in the event of its being wound up while they are member, such amount as to be required and not exceeding £1. 2. Accounting Policies a) Basis of Accountln8 The financial statements are prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP FRS102) (effective l January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 and Companies Act 2CX)6. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant policy note. b) Income Subscriptions and all other income are stated at the amounts receivable in the year. c) Expenditure All expenditure is included on an accruals basis and has been directly attributed to one of the financial categories of resources expended in the Income and Expenditure Account and Statement of Financial Activities. The expenditure also includes 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) Credltors and provlslons Creditors 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 settlement amount after allowing for any discounts due.
BRITISH ASSOCIATION OF ORAL SURGEONS Notes to the Financial Statements {continued) For the year ended 31 December 2024 2. Accounting Policies {continued) n Taxatlon No provision for corporation tax is necessary as the company has charitable status and does not trade. The company suffers input VAT on some of its expenditure which is does not recover. 3. Income from charitable artivltles 2024 2023 Unrestricted Fund Membership Conferences and courses Journal and video income Other income 139,688 246,138 13,780 140 399,746 130,934 14,160 ii,oio 8,360 164,464 4. Investments 2024 2023 Bank Interest 188 183 5. Charitable activities 2024 2023 Unrestrlcted Fund Conferences and courses Staff costs Council Meetings Oral Surgery Journal Facility costs Professional and legal Services Website Computer systems General expenses Bank Charges Membership refunds 188,718 95,737 8,956 17,500 17,000 2,330 2,461 991 16,266 1,889 2,540 354,388 11,371 76,073 6,672 17,500 14,027 2,110 2,437 831 20,415 1,633 1,587 154,655 10
BRITISH ASSOCIATION OF ORAL SURGEONS Notes to the Financial Statements (continued) For the year ended 310ecember 2024 6. Debtors 2024 2023 Conference deposits 107,920 107,920 59,748 59,748 7. Credltors 2024 2023 Accruals Deferred Income 1,050 41,840 42,890 31,355 31.355 8. Statement of Funds At 31 December 2023 Incomlng Resources Resources Expended At 31 December 2024 Unrestricted Fund Total 243,924 243,924 399,935 399,935 1354,3881 1354,3881 289,471 289,471 The Unrestricted Fund represents the funds which the company is free to use in accordance with its charitable activities. 11