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|Trustees'
Report||||
|---|---|---|---|
|Introduction
from the President|and Chair ofTrustees|||
|Charity information||||
|Board of Trustees, Council and other key appointments||||
|Membership||||
|Reference and administrative||information||
|Structure, governance|and management|||
|Charitable
objectives||||
|Progress against strategic objectives||||
|Finance review|||15|
|Statement
ofTrustees'
Responsibilities|||20|
|Independent
Auditors'
Report|||22|
|Statement
of Financial Activities|||26|
|Statement
of Financial
Position|||27|
|Statement
ofCash Flows|||2B|
|Notes to the Financial Statements|||29|
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|bership|||||
|---|---|---|---|---|
||||2021|2022|
|Fellows|||244||
|Honorary|Fellows||101|105|
|Members|||365|348|
|Associates|||107|102|
|Specialty|Trainees||69|67|
|Affiliating|Diplomates||332|336|
|Life Members|||90|90|
|Retired Members||||32|
|Revalidating
Subscribers|||12||
|Affiliate|||16|25|
|Student/foundation||year doctor|19|33|
|Total|||1,3dd|1,3d9|
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||||General|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2022|2021|
|||Notes|||||
|INCOME FROM|||||||
|Charitable
activities|||||||
|Subscriptions|||393,977||393,977|405,955|
|Qualifications
and training|||301,248||301,248|338,277|
|Publications|||6,307||6,307|7,640|
|SEQOHS|||564,085||564,085|577,476|
|MoHaWK|||12,350||12,350|13,425|
|Revalidation|||115,998||115,998|117,962|
|Grants and contracts||||29,166|29,166|70,000|
|Conferences and events|||7,228||7,228|1,154|
|Other activities|||||||
|Other income|||2,000||2,000|1,148|
|Interest on mortgage|||54,940||54,940|0|
|Investment
income|||4,960||4,960|636|
|Total|||1,463,093|29,166|1,492,259|1,533,673|
|EXPENDITURE|||||||
|Charitable
activities||2,34|1,090,257|38,779|1,129,036|1,104,069|
|Net income/(expenditure)|||372,836|(9,613)|363,223|429,604|
|Net movement
in funds|||372,836|(9,613)|363,223|429,604|
|Reconciliation
of funds|||||||
|Total funds brought|forward at||||||
|I January
2022||14|2,135,625|124,809|2,260,433|1,830,829|
|Total funds carried forward at|||||||
|31 December 2022|||2,508,460|115,196|2,623,656|2,260,433|
|STATEMENT OF FINANCIAL|POSITION|POSITION||||
|---|---|---|---|---|---|
|31 December 2022||||||
||||2022||2021|
|Notes||E|5|E|E|
|FIXED ASSHS||||||
|Tangible assets||||||
||||1,386,604||1,444,325|
|Intangible
assets|||||1,365|
||||1,386,604||1,445,690|
|CURRENT ASSETS||||||
|Debtors|9|154,849||122,037||
|Cash on deposit||368,914||368,503||
|Cash at bank and in||||||
|hand||1,202,043||1,393,213||
|||1,725,806||1,883,753||
|CREDITORS||||||
|Amounts
falling due||||||
|within one year|10|(488,754)||(533,053)||
|||(488,754)||(533,053)||
|NET CURRENT ASSETS|||1,237,052||1,350,700|
|CREDITORS||||||
|Amounts
falling due||||||
|after more than one||||||
|year|||||(535,957)|
|NET ASSHS|||R,e23,65e||2,260,433|
|Unrestricted
funds||||||
|Generol funds|14|2,508,460||2,135,625||
||||2,508,460||2,135,625|
|Restricted funds|14||115,196||124,808|
|TOTAL FUNDS|||2,623,656||2,260,433|
##
||||2022|2021|
|---|---|---|---|---|
|STATEMENT OF CASH FLOWS|||||
|Year ended 31 December 2022|||||
|Reconciliation
ofnet income / (expenditure)||to|||
|net cash tlow from operating
activities|||||
|Net expenditure
for the reporting
period per||SOFA|363,223|429,605|
|Depreciation
charges|||61,312|86,790|
|Interest payable|||25,466|26,942|
|Dividends
and interest from investments|||[4,960)|(636)|
|(Increase)/decrease
in debtors|||(32,812)|4,894|
|(Increase)/decrease
in creditors|||(18,293)|[111,914)|
|Net cash (used in) operating
activities|||393,938|435,681|
|Cash flows from investing
activities:|||||
|Dividends
and interest from investments|||4,960|637|
|Purchase of property,
plant and equipment|||(2,227)|[9,291)|
|Net cash (used in) investing
activities|||2,733|(8,654)|
|Cash flows from financing
activities:|||||
|Interest payable|||(25,466)|(26,942)|
|Loan repayment|||(507,024)|(25,082)|
|Mortgage repayment-
funding
break fund|||[54,940)||
|Net cash provided
by investing
activities|||(587,430)|(52,024)|
|Change
in cash and cash equivalents|in the||||
|reporting
period|||(190,759)|375,003|
|Cash and cash equivalents
at the beginning||ofthe|||
|reporting
period|||1,761,716|1,386,713|
|Cash and cash equivalents
at the end|ofthe||||
|reporting
period|||1,570,957|1,761,'716|
||||2022|2021|
|Analysis
of cash and cash equivalents:|||5||
|Cash in hand|||1,202,043|1,393,213|
|Notice deposits
(less than 3months)|||368,914|368,503|
|Total cash and cash equivalents|||1,570,957|1,761,716|
##
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##
|ANALYSIS OF|COSTS|Direct|Direct|Support|Total|Total|
|---|---|---|---|---|---|---|
|||Costs|Salaries|Costs|2022|2021|
|||8|8||8|5|
|Qualifications|and training||||||
|||36,271|145,749|92,828|274,848|282,171|
|Publication|||5,551|3,535|9,086|17,085|
|Revalidation,|professional||||||
|development
and standards||13,779|91,753|58,438|163,970|140,338|
|Administration|of funds||1,837|1,170|3,007|3,381|
|Conferences,|events and projects|23,457|17,461|11,121|52,039|32,817|
|Membership||71,117|51,975|33,103|156,195|192,424|
|Meetings||4,705|||4,705|7,955|
|MoHAWK||7,900|1,837|1,170|10,907|18,054|
|SEQOHS||154,081|159,703|101,715|415,500|369,100|
|||311,311|475,866|303,080|1,090,257|1,063,325|
|3|BREAKDOWN|OF SUPPORT COSTS|2022|2021|
|---|---|---|---|---|
||||E|E|
||Staff||49,866|50,906|
||Communication||8,491|6,351|
||PUinting, postage and stationery||4,092|4,365|
||Premises||35,289|76,563|
||Repairs and|maintenance|15,213|12,289|
||Advertising
and recruitment||12,000|2,110|
||Irrecoverable|VAT|(10,557)|11,784|
||Accountancy|fees|783|731|
||Governance|costs|60,900|48,845|
||Depreciation||61,312|86,790|
||Other direct|costs|65,691|66,827|
||||303,080|367,561|
|4|GOVERNANCE
COSTS||2022|2021|
||||E|E|
||Staff||50,612|37,599|
||Audit fees||9,750|9,000|
||Trustees'
meetings||538|2,246|
||||60,900|48,845|
##
|STAFF COSTS||2022|2021|
|---|---|---|---|
|||8|8|
|Wages and salaries||498,668|422,135|
|Social security costs||50,951|40,987|
|Pension costs||26,725|16,818|
|||576,344|479,940|
|The average head count (number ofstaff employed|during the|||
|year) was:||||
|7|TANGIBLE FIXED|Properly|Air-|Fixtures and|Office|Total|
|---|---|---|---|---|---|---|
||ASSETS||conditioning|fittings|equipment||
||||plant||||
||||5||||
||Cost||||||
||At I January
2022|1,547,216|132,594|47,570|72,457|1,799,837|
||Additions||||2,227|2,227|
||Disposals||||||
||At 31 December
2022|1,547,216|132,594|47,570|74,684|1,802,064|
||Depreciation||||||
||At I January
2022|(134,252)|[114,915)|[41,228)|(65,117)|(355,512)|
||Depreciation
in||||||
||current year|(30,944)|(17,679)|(6,341)|(4,983)|(59,947)|
||Depreciation
on||||||
||disposals||||||
||At 31 December
2022|(165,196)|(132,594)|(47,570)|(70,100)|(415,460)|
||Net Book Value||||||
||At 31 December
2022|1,382,020|||4,584|1,386,604|
||At 31 December
2021|1,412,964|17,679|6,342|7,340|1,444,325|
|8|INTANGIBLE FIXEDASSETS|||ITProjects|Total||
||Cost||||||
||At I January
2022|||77,860|77,860||
||Additions||||||
||Disposals||||||
||At 31 December 2022|||77,860|77,860||
||Amortisation||||||
||At I January 2022|||(76,495)|(76,495)||
||Amortisation
in current year|||(1,365)|(1,365)||
||Amortisation
on disposals||||||
||At 31 December 2022|||(77,860)|(77,860)||
||Net Book Value||||||
||At 31 December 2022||||||
||At 31 December 2021|||1,365|1,365||
|||||||
|---|---|---|---|---|---|
|9|DEBTORS|||2022|2021|
|||||E|E|
||Accrued income|||3,896|500|
||Trade debtors|||||
|||||106,186|61,210|
||Prepayments|||44,767|60,327|
|||||154,849|122,037|
|10|CREDlTORS: amounts
due within one year|falling||2022|2021f|
||Trade creditors|||30,350|28,739|
||Credit cards|||500|2,888|
||Accruals|||27,443|25,296|
||Bank loans||Note 12||26,007|
||Deferred income||Note 13|408,635|421,308|
||Tax, social security,|and pensions||21,826|28,815|
|||||488,754|533,053|
|11|CREDITORS: amounts|falling||||
||due after more than|one year||2022|2021|
|||||E|E|
||Bank Loans|||||
||||Note 12||535,957|
|The FOM lo|ans are|repayable
as follows:||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||f|f|
|Repayable|within|1year|Note 10||26,007|
|Repayable|after more than one year|||||
|Between 1-2years|||||56,599|
|Between 2-5 years|||||95,100|
|Over 5years|||||384,258|
|Repayable|after more than one year||Note 11||535,957|
|Total|||||561,964|
##
|||Examinations|Examinations|Subscrlptions|SEQOHS|Total|
|---|---|---|---|---|---|---|
|||||||2022|
||||||f|f|
|Balance|at|1|29,395|109,674|282,239|421,308|
|January|2022||||||
|Amounts|released||(29,395)|(109,674)|(282,239)|(421,308)|
|during the year|||||||
|Amounts|deferred||||||
|in the year|||17,671|105,604|285,359|408,635|
|Balance|at|31|||||
|December||2022|17,671|105,604|285,359|408,635|
|14|FUNDS|||As at||||As at|
|---|---|---|---|---|---|---|---|---|
|||||1 January|Incoming|Outgoing|Transfers|31 December|
|||||2022|resources|Resources||2022|
|a)|Restricted funds|||8|E||5||
||Good Practice Guidelines||||||||
||Funds||||||||
||Rolls Royce Guidelines||||||||
||Fund|||4,499||||4,499|
||Academic
Activities||Funds||||||
||Mobbs Travelling|Fellowship|||||||
||Fund||||4,166|||4,166|
||Donald
Hunter Lecture||||||||
||Fund|||11,069||||11,069|
||Ernestine
Henry Lecture||||||||
||Fund|||3,087||||3,087|
||Esso Research||||||||
||Fellowship
Fund|||563||||563|
||ExxonMobil Elective||||||||
||Fellowships
Fund|||1,695||||1,695|
||Wilf Howe Fund|||4,181||||4,181|
||William Taylor Memorial||||||||
||Fund|||469||||469|
||Academy
ofMedical||Royal||||||
||Colleges||||||||
||Revalidation
work||||||||
||CPD online|||12,482||(9,279)||3,203|
||Department
of Health||||||||
||(e-LfH) e-learning|||44,736||||44,736|
||HWM diploma grant|||2,000||||2,000|
||Professional
Briefings||grant|105||||105|
||NHS England/NHS||||||||
||Improvement||||||||
||Defining the skills of an|||39,922|25,000|(29,500)||35,422|
||Accredited
OH project||||||||
|||||124,808|29,166|(38,779)||115,195|
|b)|General funds|||2,135,625|1,463,093|(1,090,257)||2,508,461|
||Total funds|||2,260,433|1,492,259|(1,129,036)||2,623,656|
##
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##
|15|FUNDS||As af||||As at|
|---|---|---|---|---|---|---|---|
||||'I January|Incoming|Outgoing|Transfers|31 December|
||||2021|resources|Resources||2021|
|a)|Restricted funds||f|5||5|8|
||Good Practice Guidelines|||||||
||Funds|||||||
||Rolls Royce Guidelines|||||||
||Fund||4,499||||4,499|
||Academic
Activities|Funds||||||
||Donald
Hunter Lecture|||||||
||Fund||11,069||||11,069|
||Emestine
Henry Lecture|||||||
||Fund||3,087||||3,087|
||Esso Research|||||||
||Fellowship
Fund||563||||563|
||ExxonMobil
Elective|||||||
||Fellowships
Fund||1,695||||1,695|
||Wilf Howe Fund||4,181||||4,181|
||William Taylor Memorial|||||||
||Fund||919||(450)||469|
||Academy otNledical|||||||
||Royal Colleges|||||||
||Revalidation
work|||||||
||CPD online||21,978||(9,496)||12,482|
||Department
of Health|||||||
||(e-LfH) e-learning||44,736||||44,736|
||Diploma grant||2,000||||2,000|
||Professional
Briefings|grant|825||(720)||105|
||Defining the skills of an|||||||
||Accredited
OH project|||70,000|(30,078)||39,922|
||||95,552|70,000|(40,744)||124,808|
|b)|General funds||1,735,277|1,463,673|(1,63,325)||2,135,625|
||Total funds||1,830,829|1,533,673|(1,104,069)||2,260,433|
|The net assets are held for the vadou
follows:|s funds as|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||General|||
|Tangible fixed assets|1,386,604||1,386,604|
|Net current assets|1,121,856|115,196|1,237,052|
||2,508,460|115,196|2,623,656|
##
|The net ass
follows:|ets are held for the various|funds as||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total||
|||General||||
|||E|E|||
|Tangible fixed assets||1,444,325|||1,444,325|
|Intangible|fixed assets|1,365|||1,365|
|Net current|assets|1,225,891|124,809||1,350,700|
|Long term|(liabilities)|(535,957)|||(535,957)|
|||2,135,624|124,809||2,260,433|
##
##
##
||||General|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2021|2020|
|||Notes|||||
|INCOME FROM|||||||
|Charitable
activities|||||||
|Subscriptions|||405,955||405,955|316,414|
|Qualifications
and training|||338,277||338,277|111,453|
|Publications|||7,640||7,640|6,114|
|SEQOHS|||577,476||577,476|595,287|
|MoHaWK|||13,425||13,425|17,700|
|Revalidation|||117,962||117,962|122,039|
|Grants and contracts||||70,000|70,000||
|Conferences and events|||1,154||1,154|4,481|
|Other activities|||||||
|Other income|||1,148||1,148|10,811|
|Investment
income|||636||636|2,341|
|Total|||1,463,673|70,000|1,533,673|1,186,640|
|EXPENDITURE|||||||
|Charitable
activities||2,3,4|1,063,325|40,744|1,104,069|984,875|
|Net income/(expenditure)|||400,348|29,256|429,604|201,765|
|Net movemenf
in funds|||400,348|29,256|429,604|201,765|
|Reconciliation
of funds|||||||
|Total funds brought|forward at||||||
|I January
2021||14|1,735,277|95,552|1,830,829|1,629,064|
|Total funds carried|forward at||||||
|31 December 2021|||2,135,625|124,808|2,260,433|1,830,829|