COMPANY REGISTRATION NUMBER: 05712128 CHARITY REGISTRATION NUMBER: 1119533 The Confederation of Healing Organisations Adiiancinil tlie pr-artice of F 4eiiling Company Limited by Guarantee Unaudited Financial Statements 30 June 2024 CHALMERS HB LTD Chartered Accountants 20 Chamberlain Street Wells Somerset BA5 2PF
The Confederation of Healing Organisations Company Limited by Guarantee Financial Statements Year ended 30 June 2024 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position 10 Notes to the financial statements 12
Page 1 The Confederation of Healing Organisations Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) Year ended 30 June 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 June 2024. Objectives and activities The Charity's object is to advance health by promoting high standards in healing for the public benefft and in particular by- providing information on healing to the general public., supporting and providing education and training in healing., and establishing and maintaining proper standards of practi in healing. Publlc Benefit The Charity trustees exercise due regard to the guidance on public benefit i55ued by the Charity Commission when exercising their powers or duties and ensure that all projects and activities undertaken are in line with the Charity's objectives. Structurei governance and management Governing document The Confederation of Healing Organisations is a charitable company limited by guarantee, incorporated on 16th February 2006 and was registered as a charity on 6th June 2007. The company was established under a Memorandum of Associalion, which established the objects and powers of the charitable company and is governed under its Articles of Association, In the event of the company being wound up members are lo contribute an amount not exceeding £10. Appointment of members The directors of the company are also Charity trustees for the purpose5 of Gharity law and under the company's Articles are known as trustees. Under the requirements of the Memorandum and Articles of Association, the trustees are elected to serve for a period of three years, after which they must be re-elected if they wish to continue. Trustee induction and training New trustees undergo an orientation procedure to brief them on their legal obligations under charity law, the content of the Memorandum and Articles of Association, the board and decision making processes, the business plan, strategy and recent performanGe of the Charity, plus the various processes and pro¢edures developed to ensure the smooth running of the Charity and to comply with business and charity law. During the induction they meet the other trustees and are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. The trustees Continue to be mindful of succession planning. Trustee vacancies have been advertised on the Charity website, on our social media channels, newsletters and amongst our members.
Page 2 The Confederation of Healing Organisations Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 30 June 2024 Structure, governance and management l¢ontlnuod) Oryanisation The Board of Trustees is the Governing Body of The Confederation of Healing Organisations {CHO) and has overall responsibility for strategic direction and oversight of managernent decisions. Day to day management of the Charity is the responsibility of the Chief Executive Officer, Sue Knight who has fortnightly management meetings with the Joint Chairs of the Charity then reports are sent to the Board. The Chief Executive Officer (CEO), Administratorlmarketing Manager and BRCP Membership Manager also report quarterly to the Board. The Board and CEO were supported by an Administratorlmarketing Manager, Niki Torkington for part of the year. Niki has since resigned for a full-time position but continues to work on a casual basis when we need support. Niki's resignation has encouraged us to look at our way ofworking and we are exploring voluntary alternatives. Research, Education and Marketing sub-committees meet when necessary and report to the Board meetings. The CEO sits on each of the sub-committees, which are chaired by suitably qualified or experienced trustees. Board meetings are held on a quarterly basis and more regularfy as needed. This year the meetings were all held online to reduce time, venue and travel costs. The Brstish Register of Complementary Practitioners (BRCP) is owned and administered by The CHO. The CEO also has the position of BRCP Registrar, and there is a dedicated BRCP Membership Manager, Alison Hodges, to support day to day operations. Discipline specific Advisors are called upon when assessing applications, all of whom are experts in their fields. Governance and Management The Board of Trustees continued to monitor finances closely through financial reporting and forecasts presented at Board meetings. An additional dedicated BRCP Focus finance meeting was held by the Board during the period, where our fee structure and member benefits were compared with BRCP competitors. This information informed both short term and long term planning. During the year Jane Butterworth (Daggett) stood down as trustee. Jane had served as a trustee for just short of five years and stepped into the role of Chair for a term not long after joining us. Her steadfast support and Commitment is greatly missed. Promotion through our website has resutted in obtsining the services of Alison Mcwhinnie to replace Jane as a trustee, which has maintained a Board of five. The trustees welcomed Alison, who has shown great enthusiasm and become valuable addition to the Marketing Sub-committee. We continue to encourage members to consider applying to become tru51ees, or to recommend to others that they know to get in touch if they have appropriate experience or expert15e to offer, and add diversity to the Charity. Risk Management The Irustees have a risk management strategy that comprises-. a regular review of the risks the Charity may face., the establishment of protocols to mitigate identified risks Revised risk assessments are carried out as the Charity engages in new activities, such as exhibiting at conferenceslfeslivals, always taking into consideration the return on investment.
Page 3 The Confederation of Healing Organisations Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢orttlnu¢dJ Year ended 30 June 2024 Achievements and perfomiance Area of Focus During the year, we have focused on raising awareness of the BRCP as our primary means of generating income for the charity. We have been mindful of expenditure whilst exploring optimum ways to maximise income via both The CHO and BRCP. As part of our focus on finance, three outstanding Gift Aid submissions were su¢¢essfvlly Claimed,. totalling £18.735 and Lynn Race was taken on in a bookkeeping role, enabling Sue Knight to focus on other activities. A robust marketing plan was developed and reviewed by the Board for both The CHO and BRCP, with an update and review of the SWOT analysis. As a result, key focus areas going forward will include paid-for Continuing Professional and Personal Development (CPD) events, Healing Awareness Week and social prescribing. Standards and Education This year we have heard through multiple sources, of the increasing concern over low standards and lack of regulation in the sector. We were able to reassure people that both The CHO and BRCP recognise and validate the high standards of practice and training of their members and registrants. Online ways of working and training have increased since the pandemic, bringing the need to ensure quality and robustness. The CHO has developed online training guidance that has been put to the GRCCT for comment and discussed with UK Healers. It will be implemented in the latter half of 2024. CEO Sue Knight attended an online event held by the Consciousness and Healing Initiative.. "Navigating the Future of Energy Healing.. Policy & Practice Insights" which was educational in respect of how differently US states view the pra¢ti¢e of Healing and where they are in relation to regulating complementary therapies. Sue offered the idea of a template for Voluntary Self-Regulation las per the UK) to be adapted to suit individual states and offered CHO support if it were taken forward. Sue has also become part of the Beyond Pills All Party Parliamentary Group and, along with Su Mason attended an online meeling entitled "Shifting the balance towards social interventions.. why the UN and WHO are calling for mental health reform" This involvement will further strengthen attempts to introduce a flexible integrated approach to healthcare that includes non-medical interventions such as complementary therapies. Membership and support The CHO and BRCP have continued to offer a tailored one-to-one support service to members and registrants who have told us that they value this personal approach. We have also been in regular contact with 12 newsletters and bulletins Carrying updates in benefits, good practice and sector updates through the year. In the interests of ensuring our offer is of value to registrants, we issued a BRCP benefits survey, which we hope will offer insight into what our registrants want from a professional association. We also took part in a consultation by the Welsh Government regarding proposed licensing of Acupuncture in Wales on behalf of our BRCP registrants. If successful. we hope that BRCP registrants offering this discipline in Wales will be exempt from special licensing fees as our London-based registrants are in their locality.
Page 4 The Confederation of Healing Organisations Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 30 June 2024 Achlevements and performanc8 (eontlnuedj During the year, interest in having quality of training acknowledged has continued to grow. We granted the BRCP Approved quality mark ta TMJ Massage for its Level 1 TMJ Massage Therapies@ Online Course,- The International School of Traditional Japanese Medicine returned and had their Amatsu Medicine course BRCP Approved., and Us-based Dao Needle Therapy was awarded the BRCP Approved quality mark for its short course. A new Category of membership for BRCP registrants, BRCP Alumni, has been proposed for those registrants who retire or close their practice, but want to remain in touch with BRCP and the sector. 8RCP Alumni will receive newsletters, benefit from discounted offers, and will be encouraged to share their wisdom with current registrants through newsletter articles and blog posts. Having approved a significant investment of £30,000 for our new BRCP website, this has been a more complex projecl than expected and is now due to be live in October 2024. It will bring promotional opportunities to increase income and significantly reduce the manual administration and processes currently needed lo manage registration. It will also offer a much-improved resource for existing and potential registrants, as well as the public wanting to find out more about Complementary therapies, confident that if they book an appointment with a BRCP registrant they have assurances of safety and quality. The CHO membership numbers have remained stable since 1 st July 2023, We welcomed The Healing Fellowship as a full member in August 2023 and Divine Energy International as an Associate in April 2024. The CHO has been considering assessing and providing approval of Continuing Professional and Personal Development (CPD) training, to ensure quality and professionalism. Member organisation, Joumey to the Heart and Soul was the first applicant with its Reiki Refresher CPD course. Sue Knight was invited to attend a BRCP Approved Transformational Breath IUKI training day, held at CHO Member Organisation Open Pathways Retreat Centre. She offered to supply further volunteers for future training and introduced the students present to BRCP and the benefits of registration. Raising awareness Once again, we were fortunate enough to be invited to attend the Mind Body Spirit Festival at the NEC in Birmingham, with an interesting schedule of speakers and volunteers offering healing and other complementary therapy taster sessions. Our Aspects of Healing showcase offered a fantastic opportunity to raise awareness of Healing and both The CHO and BRCP. It was a particularly busy show for us and there was much interest in what benefits registration with the BRCP could offer. We made and followed up up more contacts this year than any other. As always, the success of AspeGts of Healingwas largely due to our wonderful leam of enthusiastic volunteers, who gave up their time and mostly self-funded their attendance. We are extremely grateful for their support
Page 5 The Confederation of Healing Organisations Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (¢ontlnued) Year ended 30 June 2024 Achievements and performance (continued) As part of our marketing strategy, we trialled a short-run, paid-for (minimum budget) Facebook advert, and in¢reased page content with the aim of generating a larger audience to push traffic lo the new website when it is live. The ad campaign resLslted in 56 new page likes. It is a tactic that can be used again at minimum outlay to increase our audience. Sue Knight atlended the Integrative & Personalised Medicine 2024 Congress, where CHO Co-chair, Su Mason ran a workshop with Matt Hawker and Liz Butler entitled "Bridging the gap5- Exploring spiritual and religious dimensions of health and healing" The workshop proved to be a subject of interest to the audience and was well-attended by a mix of lay people, doctors, nurses and therapists, who all enjoyed the interaction and discussion. BRCP was an official supporter of the congress, at no cost, which provided valuable potential to raise awareness of BRCP. The trustees will consider exhibiting at next year's event after all expenses have been considered. Collaborations We were instrumental again this year in promoting Healing Awareness Week 16-12th May 2024}. Twelve healing organisations took part, organising 41 in-person events and online workshops and talks. Almost 3,500 people visited the Healing Awareness Week website to find out more about it. The BIG HEAL also took place each evening and generated 205 video views. Healing Awareness Week is a great example of collaboration and a will to promote Healing by the sector, and we are proud to have been part of it. As founding members, we were pleased to attend the first of The Healing Forum meetings to be held for some time. New Terms of Reference for the group have been produced and it was agreed that Healing Awareness Week will continue, alongside other activities. Discussions also took place with Healing Forum members about the creation of Healing NeOrk International, to engage in the process of Collaboration and to build a structure that can assist the next generations to deliver the values and benefits of Healing as a modality that helps our clients and society. Financial review Gift Aid submissions made in the previous year for financial years ending 30 June 2019 and 30 June 2020 were received in this financial year as was a claim for year end 30 June 2021. These payments included an element of interest accrued. Further submissions for years ending 30 June 2022. 2023 and 2024 will be made in the next financial year. Generous donations were gratefully received from members and registrants and from attendees of the Mind Body Spirit Festival where a total of £618 was raised. We received the final payment of £4889 from a legacy from the estate of the late Hazel Bowker, for which we are extremely grateful. The Give As You Live online shopping scheme resulted in £30. Under this scheme, we receive a donation at no cost to the shopper when they make a purchase online with an organisation signed up to the initiative. We Continue lo encourage members to sign up to the scheme.
Page 6 The Confederation of Healing Organisations Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢ontlnued) Year ended 30 June 2024 Financial review (contlnued) A number of shares in US based Reven Pham)aceuticals had been gifted to the CHO by an Associate some years previously. There is still an ongoing investigation into two directors of the company and floating of these shares 15 unlikely in the short term. Further building our membership income, Ouf BRCP Membership Manager, Alison Hodges succeeded in re-activating more practitioners who had not renewed their registration following the pandemic. We were pleased to hear that they are in practice again and to welcome them back. Review of Transactions and Financial Position The charity's total income for the year was £49,994 (2023.. £91,836) and total expenditure was £75,164 (2023.. £75,528). Therefore, the charity's expenditure exceeded income by £25,328 {2023: surplus of £16,434). Due to a review of the subscription model by the Trustees, subscription income is now recognised in full when it falls due for payment rather than accruing equally over the term of the subscription. Therefore, the 2024 subscription income includes a one-off release of previously deferred income of £14,480. As at 30 June 2024 the charity has net asset5 of £133,984 (2023.. £159,312) of which £113,676 relates to unrestricted funds (2023.. £139,004) and £20,308 is held in restricted funds12023.' £20,308}. As at 30 June 2024 the charity has 'Yree reserves" (unrestricted reserves less designated funds, fixed assets and investments) of £83,29012023: £108,617). Investment Powers and Policy Under the Memorandum of Association, the Charity has the power to invest in any way the Trustees wish within the powers provided under the Trustee Investments Act 2000. The trustees regularly assess the financial viability of the Charity and have taken steps lo get capital input and to ensure long term financial viability to ensure other types of income that we may be able to develop. Reserves Policy The Board regularly reviews the Charity's reserves and income versus running cost5 and is satisfied of the viabiSity of the organisation in the medium term. Contingency plans are in place for emergencies and items of special expenditure, and income generation strategies are being implemented to reduce any future strain on the reserves. The Board has decided that £30,000 will be put aside into Reserves On all Gift Aid submissions have been paid {at time of writing two more claims to bring us up to date). Plans for future periods In order to further meet the Charity's Objects, work continues on fundraising initiatives including increasing membership, identifying potential grant funding and the development of income generating initiatives. Marketing and promotion play a great part in this and we are confident that when we find a marketing volunteer, we have a robust plan in place to move foNard and continue the work we do in raising the profile and standards of Healing and other complementary therapies for the public benefit.
Page 7 The Confederation of Healing Organisations Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (conthiu¢d) Year ended 30 June 2024 Refernnce and admlnistrative details Registered charlty name The Confederation of Healing Organisations Charlty rryistration numbèr 1119533 Company r•g18tratlon number 05712128 Principal office and regl8tered 20 Chamberlain Street office Wells Somerset BA5 2PF Th• trustees David Balen Jane Daggett (Butterworth) Dr Susan Mason Craig Rebuck Melissa Smith Alison Mcvllhinnie (Retired 8 January 2024) (Appointed 8 January 2024) Chief Executive: Sue Knight Independent oxaminer Paul Dix ACA FCCA Chalmers HB Ltd 20 Chamberlain Street Wells Somerset BA5 2PF Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The Irustees, annual report was approved on ... trustees by: . and signed on behalf of the board of Dr Susan Mason Trustee
Page 8 The Confederation of Healing Organisations Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Confederation of Healing Organisations Year ended 30 June 2024 I report to the trustees on my examination of the financial statements of The Confederation of Healing Organisations {'the charity'l for the year ended 30 June 2024. Responsibilities and basis of report As the trustees of the company {and also its directors for the purposes of company law) you are responsible for the preparation of the financial ststements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required lo be audiled under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's aGcounts as carried out under section 145 of the Charities AGt 2011 I'the 2011 Act')- In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{51{b) of the 2011 Act. Independent examlner's statem8nt I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other Ihan any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their account5 in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102). I have no Goncems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 11 Paul Dix ACA FCCA Chalmers HB Ltd Independent Examiner 20 Chamberlaln Street Wells omerset BA5 2PF
Page 9 The Confederation of Healing Organisations Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 June 2024 2024 Restricted funds Total funds 2023 Unrestricted funds Total funds Note Income and endowments Donations and subscriptions Charitable activities Investment income Other income 47,994 47,994 90,666 316 249 731 1,367 475 1,367 475 Total Income 49,836 49,836 91,962 Expenditure Expenditure on charitable activities Total expendlture 9,10 75,164 75,164 75,528 75,164 75,164 75,528 Net (expenditure)lincome and net movement in funds (25,328) {25,328) 16,434 Reconciliation of funds Total funds brought forward Total funds carried forward 139,004 20,308 159,312 142,878 113,676 20,308 133,984 159,312 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from Continuing activities. The notes on pages 12 to 20 fomi part ofthese financial statements.
Page 10 The Confederation of Healing Organisations Company Limited by Guarantee Statement of Financial Position 30 June 2024 2024 2023 Noto Fixed assets Intangible assets Investments 16 18 30,000 386 30,000 386 30,386 30,386 Current assets Debtors Cash at bank and in hand 19 34,369 86,089 56,140 108,501 164,641 120,458 Creditors: amounts falling due withln one year Net current assets 20 16,860 35,715 103,598 128,926 Total assets less Current liabilities 133,984 159,312 Not assats 133,984 159,312 Funds of the charity Restricted funds Unrestricted funds 20,308 113,676 133.984 20,308 139.004 Total charity funds 22 159,312 For the year ending 30 June 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its f5nancial statements for the year in question in accordance with section 476- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial staternents. These financial statements have been prepared in ac¢ordan¢e with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The note8 On pago$ 12 to 20 fom part of these financlal 8tatements.
Page 11 The Confederation of Healing Organisations Company Limited by Guarantee ststement of Financial Posltion (eontlnuod) 30 June 2024 Thes fin ncial statements were approved by the board of trustees and authorised for issue on , and are signed on behalf of the board by: Dr Susan Mason Trustee The notes on pages 12 to 20 fomi part of these financlal statements.
Page 12 The Confederation of Healing Organisations Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2024 General information The charily is a public benefit entity and a private company limited by 9uarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 20 Chamberlain Street, Wells, Somerset, BA5 2PF. Statement of compliance These financial statements have been prepared in Gompliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 {FRS 102} (Charities SORP {FRS 102}l and the Companies Act 2006. Accountlng policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the fun¢tional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimatlon uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific reslrictions imposed by donors or which have been raised by the Charity for particular purposes. The Cost of raising and administering su¢h funds are Charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 13 The Confederation of Healing Organisations Company Limited by Guarantee Notes to the Flnancial Statements (Continued) Year ended 30 June 2024 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the Charity,, it is probable ihat the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence cf entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recogni5ed when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value 15 derived from the cost to the donor or the estimated resale value. Donated facililies and services are recognised in the a¢¢ounts when received if the value Can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. Thi5 is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which il relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Intanglble assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Tangible assets All fixed assets are initially recorded at cost.
Page 14 The Confederation of Healing Organisations Company Limited by Guarantee Notes to the Financial Statements (¢ontinued) Year ended 30 June 2024 Accountlng policies f¢ontinued) Depreciation Depreciation is ¢al¢ulated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Equipment 33% reducing balance Investrnents Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliablv measured. assets are measured at cost less imDairment. Impalrment of fixed assets A review for indicators of impairment is carried OLrt at each reporting date, with the recoverable amount being estimated where 5u¢h indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Financial Instruments A financial asset or a financial liability is recognised only when the entity be¢t)mes a party to Ihe contractual provisions of the instrument. The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee The Company is limited by guarantee, without a share capital, The company's members maximum liability cannot exceed £10 each.
Page 15 The Confederation of Healing Organisations Company Limited by Guarantee Notes to the Financial Statements (eontlnued) Year ended 30 June 2024 Donations and subscriptions Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Donations Gift Aid reclaims 1,231 273 1,231 273 1,338 24,480 1,338 24,480 Legacles Legacies 17 17 29,372 29,372 Subscriptions Subscriptions 46,473 46,473 35,476 35,476 47,994 47,994 90,666 90,666 Charitsble activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Event income 316 316 Investment income Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 FL¢nds 2023 Bank interest receivable Other interest receivable 430 937 430 937 249 249 1,367 1,367 249 249 Other incom8 Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other income 475 475 731 731 Expenditure on charitabl8 actlvltles by fund type Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Promoting high standards in healing Support costs 31,219 43,945 75,164 31,219 43,945 35,079 40,449 35,079 40,449 75,164 75,528 75,528
Page 16 The Confederation of Healing Organisations Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 June 2024 10. Expenditure on charftable actlvltles by activity type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Promoting high standards in healing Governance costs 31,219 31,219 43,945 75,164 35,079 40,449 43,945 31,219 43,945 75,528 11. Analysis of support costs Promoting high slandards in healing Totsl 2024 Total 2023 Staff costs Communications and IT Governance costs Secretarial 20,506 2,169 43,945 8,544 20,506 2,169 43,945 8,544 24,593 3,330 40,449 7,156 75,164 75,164 75,528 Governance costs 2024 2023 Wages and salaries Pension costs Accountancy and independent examination fees Secretarial Telephone and other office costs Insurance 20,000 506 2,754 17,457 2,726 502 16,000 395 2,477 18,937 2,119 521 Total 43,945 40,449 12. Independent 8xamlnatlon fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial ststements 1,103 1,062 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows= 2024 2023 Wages and salaries Employer contributions to pension plans 40,000 1.012 40,000 988 41,012 40,988
Page 17 The Confederation of Healing Organisations Company Llmited by Guarantee Notes to the Financial Statements {contlnuedJ Year ended 30 June 2024 13. Staff costs (continued) The average head count of employees during the year was 1 12023.. 1). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 2023 Number of staff No employee received employee benefits of more than £60,000 during the year (2023.. Nil). 14. Trustee remuneratlon and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. During the year, no trustees were reimbursed expenses {2023- 1 Trustee.. £701. 15. Transfers between funds There have been no fund transfers during the year ended 30 June 2024. 16. Intsngible assets Website and Database Cost At 1 July 2023 and 30 June 2024 Amortisation At 1 July 2023 and 30 June 2024 Carrying amount At 30 June 2024 30,000 30.000 At 30 June 2023 30,000 The website and database are currently still under construction, so the ¢ost will not be amortised until it is Completed and brought into use, which is expected to be during the next financial year. 17. Tanglbl8 fixed assets Equipment Total Cost At 1 July 2023 and 30 June 2024 Depreciation At 1 July 2023 and 30 June 2024 Carrying amount At 30 June 2024 1,003 1,003 1,003 1,003 At 30 June 2023
Page 18 The Confederation of Healing Organisations Company Limited by Guarantee Notes to the Financial Ststements (¢ontlnued) Year ended 30 June 2024 18. Investments Other inveslments Cost or valuation Al 1 July 2023 Additions 386 At 30 June 2024 386 Impalrment At 1 July 2023 and 30 June 2024 Carrying amount At 30 June 2024 386 At 30 June 2023 386 All investments shown above are held at valuation. The investments represent 100 shares in Reven Pharmaceuticals Inc, which were kindly donated to the charity in 2017. The Company is unlisted and so there is no open market for the shares. The company itself provided advice that the value of the shares was in the region of $5 each at the time of the gift. The Trustees still consider this to be a reasonable estimate of the fair value of the shares at the year end. 19. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 583 268 33,518 34,369 225 55,915 56.140 20. Credltors: amounts falllng due wlthln one year 2024 2023 Trade credilors Accruals and deferred income Social se¢urity and other tsxes Other creditors 7,200 3,914 453 5,293 14,400 17,126 728 3,461 16,860 35,715 21. Pensions and other post ratiromènt benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,012 (2023.. £9881.
Page 19 The Confederation of Healing Organisations Company Limited by Guarantee Notes to the Flnancial Statements (¢ontlnued) Year ended 30 June 2024 22. Analysis of charitable funds Unrestricted funds At 1 July 2023 At 30 June 2024 Income Expenditure General funds Competence Based Qualifications ICBQ) 139,003 49,836 175,164) 113,675 139,004 49,836 {75,164) 113.676 At 1 July 2022 At Income Expenditure 30 June 2023 General funds competen Based Qualifications ICBQ) 122,569 91,962 175,528) 139,003 122,570 91,962 175,528) 139,004 Restricted funds At 1 July 2023 At 30 June 2024 Income Expenditure Aids Fund Pagets Research Fund - Ex ICNM Radionics Research Fund- Ex ICNM 283 10.025 10,000 283 10,025 10,000 20,308 20,308 At 1 July 2022 At Income Expenditure 30 June 2023 Aids Fund Paget5 Research Fund- Ex ICNM Radionics Research Fund - Ex ICNM 283 10,025 10,000 283 10,025 10,000 20,308 20,308
Page 20 The Confederation of Healing Organisations Company Limited by Guarantee Notes to the Financial Statements (¢ontlnu•dJ Year ended 30 June 2024 23. Analysis of net assets between funds Unrestricted Funds Restricted Total Fund5 Funds 2024 Intangible assets Investments Current assets Creditors less than 1 year Net assets 30,000 386 100,150 {16,8601 113,676 30,000 386 120,458 116,860) 20,308 20,308 133,984 Unrestricted Funds Restricted Total Funds Funds 2023 Intangible assets Investments Current assets Creditors less than l year Net assets 30,000 386 144,333 (35,7151 139,004 30,000 386 164,641 {35,715) 159,312 20,308 20,308 24. Financial instruments All financial instruments are basic financial instruments and so are valued al amortised Gost in the financial statements, 25. Related partigs No transactions with related parties took place during the year.