Faarltyof OtpatIOnal MedKint Annual Report and Accounts 2023 Charity Commission No 1139516 Scottish Charity No SC040060 Registered in England No 07461063
OUR VISION Heollhy working live5 lor oll. OUR POSITION The Faculty ol Occupalionol Medicine believes everyone ol working age has the right lo benelil from healthy and rewarding work while not putting themselves or others al unreosonable risk. They have the right to access competent occupalionol medical advice os parl ol comprehensive occupalionol heolth ond safely services, ensuring Ihal they can occess the rewards ol good employment and avoid preventable injury ond illness caused or aggravated by work. OUR MISSION To drive improvement in the heollh ol the working age population through outslonding occupolional heollh copobilily by developing and supporting the good proctice of occvpalionol medicine. To provide public benefit through the protection ol people al work by ensuring the highest professional slandords ol competence. quolily and ethical integrity. OUR VALUES Colloboralive. Aulhorilolive, Relevant, Elhicol
CONTENTS Trustees, Report Introduction trom the President ond Chair ol Trustee5 Charity informolion Boord of Trustees, Council ond other key appointments Membership Reference and adminislrolive information Slruclure, governance and management Chariloble objectives Achievements 10 Finance review statement ol Trvstees, Responsibilities 18 Independent Auditors, Report 20 statement of Financial Actlvltles 24 statement of Flnanclal Poslllon 25 Statement of Cash Flows 26 Notes to the Flnanclol Statements 27
TRUSTEES, REPORT Introdvctlon from the Presldent and Chair of Trustees, Professor Steven Nimmo 11 hos been another very busy and exciling year with many new developments for the Focully and the 5peciolly. The influence ol Ihe Foculty and occupational medicine continues lo slrenglhen. The publication in June 2023 01 the NHS Long Term Workforce Plon wos o welcome development, with a commitment lo ensure that integrated occupational heollh serrfice5 ore in ploce for staff. The new regional Integroled Core Services have been tasked with developing plons lo invest in occupalionol heollh IOHI services aligned with the Growing Occupational Health and Wellbeing Strategy. Developing OH workforce capacity is a key objective lor the Focully. and the uptake ol Foculty qualifications has doubled in recent years. We have responded well lo thi5 demand, ond mode subslonliol progress on reviewng and updating the MFOM Parl 2 exominolion during 2023 100. Al a sectorial level, a proposal wos sent lo Professor Sir Chris Whitly regarding rolling out a national occupational heollh setvice. This poper wos produced collaboratively by the Faculty, the Society of Occupational Medicine, the National School ol Occupational Heollh ond the Council lor Work and Health. Nolionolly. Ihere were announcements about occupational health in the 2023 budget stalemenls. These included two new consultations.. one conceming incentivising Ihe uptake ol OH by employers Ihrovgh laxalion, ond the second lo explore how lo increase employer engagement th OH by regulation or other levers. This consullalion will 0150 consider "a process ol kilemarking and professional occreditolion to assure quality ol occupational health services so il has been a particularly notable achievement that in 2023 the SEQOHS stondord5 review was completed ond a new www.se ohs.or web51te was launched. In late 2023, the Chancellor announced o new service called Workwell o three-yeor pilot to provide funding lor Integrated Core Systems IICSSI to provide lower leve1 biopsychosocial support from clinical ond non-clinical services to encourage people to relurn lo work. There 15 a150 additional Ivnding of £400m lor musculoskelelol health and menlol health setvices. Regular meetings between the Secretary ot Stale lor Heallh and Sociol Core and Presidents of medical royal colleges and foculties have been very productive. The Chief Medical Officer al the Deparlmenl lor Work and Pensions is meeting quartedy with key slokeholders including the Focully of Occupotional Medicine ond discussion points have included the lil note and work capability assessments. l also allended o meeting al the House ol Lords orgonised by the Society of Occupationol Medicine and hosted by Lord Blunkelt and Boroness Finlay. The theme wos the future ol UK workplace heollh, and altendees included representatives from the Bank ol Englond. industry and senior civil servonts. with discussions oround workle55ness and economic inoclivily, and expanding access to occupotionol heollh 05 port ol the solution. There 15 no doubl that the Faculty is thriving, widening its influence, and mointaining ils linanclal health. As l approach my final year a5 President. I feel immensely proud ol everything Ihol the Focully has ochieved which would nol have been possible without the support ol members, and the hord work and dedicotion ol volunteers and our stall team. Thank you. Professor Steven Nimmo MRCGP MFMLM FRCP PFOM
CHARITY INFORMATION BOARD OF TRUSTEES. COUNCIL AND OTHER KEY APPOINTMENTS Board of Trustees The Board ol Trustees comprises the charify Tru51ees ol the Faculty of Occupolionol Medicine IFOMI. The Tru51ees ore olso the directors of the company under the Companies Act 2006. Except where indicoled. Ihe follov4qng oll served 05 Trustees and directors Ihroughoul 2023: Prole5s0r Steven Nimmo President Professor Ira Madan Academic Deon & Deputy President Registrar & Deputy Presidenl Treo5urer (reelected September 20231 Elected member Ire-elecled December 20231 Loy member. Employers. Represenlolive Lay Member, Employees, Representative, nominated by TUC Dr Rikord Moen Dr YoLJsel Habbab Dr 50 Curran Professor Neil Budworlh Ms Lynsey Monn Professor Karen Walker-Bone Co-opted Ilo December 20231 Co-opled Elected member ltrom December 20231 Professor Neil Greenberg Dr Tosin Talabi Councll The Council meets four times a year and is chaired by the Academic Dean. Membership is as follow5= Professor Iro Madan Academic Deon and Chair ol Council Professor Steve Nimmo President Dr Rikord Moen Registrar Dr Robin Cordell SEQOHS Standards Review Lead Dr David Fox Responsible Officer lor Revalidalion Ilo November 20231 DrDanny Wong Responsible Officer lor Revalidalion Ilrom November 20231 Gp Copl David Mallell Director ol Training Ito September 20231 Dr Lisa Curran Director ol Troining Ilrom September 20231 Dr Jon Spiro CESR IPortlolio Palhwoyl Lead Dr Paul McGovern Direcl(y of Examinations Ilo May 20231 Dr Tosin Tolabi Director of Exominolions lfrom September 20241 Dr Steve Boormon Chair of the Council lor Work & Health DrAnne De Bono Represenlalive from the NHS
Dr Sue Bloir Convenor ol FOM Scotland Dr Denise Connolly Convenor ol FOM Northern Ireland Dr Andrew Sproston Convenor of FOM Wole5 Dr David Flower Retired members, repre5enlalive Mr Andrew Walker Lay represenlalive Dr Aidan Challen Associate Member Dr Finolo Ryon Trainee Representative Ilo June 20231 Dr Daniel Border Troinee Repre5enlolive Ilrom June 20231 Professor Karen Walker-Bone RCP and Acodemio represenlalive Ito December 20231 Ms Louise Craig FOM Chief Execulive Officer other key oppolntments Dr Pr05enjil Gin Deputy Director ol Examinations Dr Drovendronolh Reetoo Chief Examiner. MFOM Part l and Doccmed Dr Momeda Dean Deputy Chief Exominer. MFOM Part l and Doccmed Dr Tosin Tolobi Chief Eyaminer, MFOM Part 2 (to September 20231 Dr Louise Holden Chief Examiner. MFOM Part 2 (from September 20231 Dr Morcus Wong Deputy Chief Examiner, MFOM Parl 2 ltrom November 20231 Dr Hanaa Syed Deputy Chief Exominer, MFOM Parl 2 (from November 20231 Wg Cdr Matthew Lewis Chief Examiner, DAvMed Dr Henry Lvpa Deputy Chief Examiner, DAvMed DrDanny Wong Chief Examiner, HA VS Dr Isam Ruslom Deputy Chief Exominer. HA VS M5 Anna Porter Chief Examiner, DipOHPrac Ms Carol McLeod Deputy Chief Examiner. DipOHPrac
Membershlp 2022 2023 Fellows 222 219 Honorary Fellows 105 109 Members 348 348 A550cioles 102 103 Specialty Trainees Allilioling Diplomales 67 65 336 345 Life Members 90 80 Retired Members 32 37 Revolidoling Subscribers Alliliale 25 29 studenllloundalion year doctor 33 48 Totol 1.369 1.391 REFERENCE AND ADMINISTRATIVE INFORMATION The FOM'5 address- 2 Lovibond Lane London SE109FY wNw.lom.oc.uk Chorily Commission Number.. Scollish Charity Number.. Registered Company Nvmbef.. 1139516 SC040060 07461063 Bankers.. Lloyds Bank plc Longhom Place branch PO Box 1000 BXI ILT Solicitors: Shoosmilhs LLP l Bow Churchyard London EC4M 9DQ Auditors: Griffin Stone Moscrop & Co 21-27 Lomb's Conduit Street Holborn London WCIN3GS
The Board of Trustees, who ore also the directors ol the chafilable company. officers ond key appointments, are listed on pages 4 and 5. The FOM Board of Trustees presents its annual report lor the year ended 31 December 2023 under the Charities Act 2011 and the Charities Accounts Iscollandl Regulations 2006. together with the audited accounts lor the year. and confirms that these comply with cvrienl stolulory requirements, the requiremen15 01 the charity's governing document and Ihe provisions ol the Slalement of Recommended Praclice ISORPI 'Accounling and Reporting by Chorilies,. The report 15 also a Direclors, Report as required by Section 415 01 the Companies Act 2006. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveinlng document The FOM is governed by its Artic5es ol Association dating from December 2010 ond losl amended in October 2017. The FOM'S conslilulion is set out in its Articles ol Association. Recrullment and Iralnlng of Trustees Under the Articles of AsSOClOtion, elected members, lay members and c(Foplees normally serve on the Board ol Tru51Èes unlil the second, third or fourth Annual General Meeting following the one ol which their election is announced. Elected members may not serve lor more Ihan two consecutive elecled term5 alter which they become ineligible lor re-election vnlil a period ol one year has elapsed. Trustee5 are inducted into the workings ol the FOM through the issuing ol information, which includes relevant moleriol from the Charify Commission, Ollice of the Scottish Charity Regulator, Companies House. as well as documentation on the FOM'5 Stralegic aims and objective5, Stoll slruclure and key policies. Mentoring support 15 provided by more experienced members of Ihe Board ol Trustees. Organlsallonal management Trustees are also direclors ol the incoiporoled charity. The Board ol Tru51ees is legally responsible lor the overall management ond control ol the FOM and meets quarterly. ffte President, Acodemic Dean, Registrar, Treasurer and up lo three Tnjslees are elected by Ihe membership. Lay Trustees. and up lo three co-opted Trustees, may be appointed by the Boord. The Board moy e51oblish commitlees or working groups as il sees fit lo contribute to the delivery ol Ihe strategic oims ond objectives of the FOM. The Council is a key professional odvi50ry committee and meets quarterfy to consider prole55ional mollers related lo Ihe speciolty ol occvpational medicine and lo make recommendations lo the Board. Ollice holders who are not Trustees ore appointed by the 8oard.
Rl$k monagement In 2024 the Boord of TTU5tees wll underloke a tull review ol Ihe Faculty's slrenglhs, weaknesses, opporlunilie5 and thieals ISWOTI and FOM'S operaling environmenl using polilicol, economic. 50cioI. technological, legal and environmental laclors IPESTLEI. This will inform a review ol the FOM Risk Regisler and a Ihree-yeor 51rolegic planning exercise. The key conlrols that are used by the chorily lor risk identification and management include: Regular monitoring ol key risks by the Pre5idenl, Deputy Presidents (Regislrar ond Academic Dean) and the Chief Execulive Officer, wilh regular online meetings, and escolalion lo all trustee5 and external piolessionol advisers as required,. Consulting and engaging with Medical Royal Colleges and Foculfies lo share learning and information about emerging Irend5.' Frequenl communication between and amongst Trustees and FOM senior stall lo identify risks eorfy. put mitigation mea5uie5 in place, and monitor their ellectiveness., Periodic review and updating of FOM'S Risk Register by the 8oord ol Trvslees., Agendos and minuleslnoles lor all FOM Board and committee meelings.. Budgel setting, manogemenl occounling ond quorlerly performance reports lo Ihe Board,. Established organisalional structures and lines ol reporting., Formal wrillen policies., and Cleor financial protoco15, including aulhorisolion ond approval levels. The Board idenlifles and miligales against risks, bul il is recognised that 5yslems con only provide reasonoble bul not absolute assurance. Publlc benefll FOM is a charity and exists lor public benefit. Through it5 work, FOM ensures thot those providing occupational health services ore suilably quolilied and Ihat employers, workers, government ond the public in generol con identify sole. elfeclive and good qualily occupational heollh services through the SEQOHS accreditolion scheme. The following work is al the heorl ol the socielal benefit provided by FOM: FOM sets, upholds and updates prole55ional slondords in occupational medicine and occupalionol heolth.
FOM supports and assesses doctor5 seeking specially regislralion, and also provides a ronge ol diplomas. FOM 15 responsible lor providing and updating the poslgraduote curriculum lor specially Iroirning in occupalionol medicine in the UK and works closely with the General Medicol Council IGMCI lo ensure approval lor ony curricular changes. FOM'S education ond quolilicolion programmes ensure thal slondords ore ochieved throughout the profession. and thol they ore moinloined through conlinuous professional development. FOM'S members commit lo annual opproisals and undergo o rigorous process ol revolidolion through FOM and other designated bodies. FOM contributes advice to major national commillees ond working groups. FOM also works lo increase capacity in occupational medicine ond heollh, and believes Ihol occess lo good occupational health should be available to everyone in the working age populotion. FOM sets, promotes and upholds standards lor organi5ations providing occupalionol health services through the SEQOHS occreditalion scheme. SEQOHS is widely recognised os the national standard lor occupolional heollh services providing sale, elleclive and good quolity services. The Trustees hove given dve considerolion lo the Charity Commission's published guidance on the Public Benefit requirement under the Charities Act 2011. Fundral$lng compliance FOM had no lundroislng activities in 2023 requiring disclosure under Sl 62A ol the Charities Act 2011. Charitable objectlves The FOM'S objective5, 05 sel out in ils Articles ol Associalion. are to.. Promote for the public benefit the odvoncemenl of education and knowledge in the field of occupational medicine,. 2. Act os on oulhoritalive body lor the purpose ol consullalion in matter5 of educational or public interest concerning occupational medicine: 3. Develop ond mainloin for the public benefit the good practice ol occupalionol medicine with a view lo providing lor the protection of people al work by ensuring the highest professional standards ol compelence and elhicol inlegrily.
A¢hlevements New SEQOHS standards and webslte launched The SEQOHS Isale Elleclive Quality Occupotional Health Service) 51andord5 were extensively revised and relounched in 2023, with subslanlial input from a wide range ol stokeholders including the HSE, government, provideTS ol smoll and large services, and assessors. The 2023 SEQOHS alongside the new slandords in December 2023. The website also ollers the oplion to search. by service reqvifed ond geographic location, lor SEQOHS accredited providers. SEaoHS Slandards introduce oulpul and outcome slondards, provide clearer evidence guide5 supported by lemplales. ond reduce the lolal number ol standards overall by removing duplication. The indu ccupational healt foE è'fvi¢es"' StirthlDrinoxuFaalh1srbi(pdeT A new website al www.se oh5.or provides key information for employers. employees and providers and was implemented Worklng In partnershlp wlth NSOH Launching ils 2023-28 Strategy. the National School ol Occupational Health INSOHI highlighted its partnership working with the Faculty. ifs support lor FOM diplom05 and the close working between the NSOH ond FOM in Ihe implemenlalion ol the curriculum. Joint octivilies in 2023 included a supeNis0, Refresher Day on 14 April 2023 in Leicester where discussions included a more flexible approach lo the assessment ol reseorch and occeplable evidence ol achieving Learning Outcome I l. MFOM Part 2 During 2023 the Foculty con5vlted wth the GMC on o root ond bronch review ol Ihe MFOM Port 2 ond slandard selling. The Faculty obtained exlernol experl advice on how the multiple choice question paper, multiple essay question paper, photo hygiene paper. and OPSE could be improved. Consultation on a possible new Iromework was extensive and included trainees, Supervisors, employers ond examiners. A prop0501 for o Iwo-port exominotion w05 senl lo the GMC th Iwo elemenls.- o lest ol kr)ow4edge'. a Single Besl Answer ISBAI paper. and o lesl ol clinic01 skills: on Objective Slruclured Clinical Examination IOSCEI. Regulor updoles hove been provided through newslelters ond o Frequently Asked Questions IFAQI seclion hos been added to the Faculty's website. FOM hos also considered any potential 10
impacts on equolity. diversity and inclusion in the review and a consullation was undertaken lo seek the views ol Iroinees, supervisors. employers ond examiners on the proposals. A cooching doy lo support doctors wishing lo follow the portfolio pathway ICESRI roule was delivered jointly by the GMC on 8 June 2023, and work look ploce, led by Dr Jon Spiro, on implementing the changes brought in by Ihe GMC including the introduction ol 'portlolio pothwoy, to describe those following the roule previously just releired lo as 'CESR'. Workplace vldeo library In 2023 the Faculty launched new online resources lo help Iroinees and portfolio pathway ICESRI doctors lo better undersland work activities wlh health Dr lon Aston hos led on developing this resource, working with members of the Focvlfy who generously gove their lime voluntarily lo research and di5CUSs suiloble material. hazards. Located on the Focully's website. the resources comprise three elements.. A video librory ol many common work oclivities which presenl health hazards lo workers.. 11 Key sklls ol occupolorol heolth olessiona15 are understan workpkJce5 and whol octiwtss cre undertoken there. We hope onfire re50vrce cotTrlribute to Iiainee5 LelandirO oflhe 5P8c*IIty" 2. A list ol work venues open lo the public in the UK which con be visiled and show active work., and fom 3. A list ol online resources about general guidance for occupational health practice. Trolnee/portFolio pathway conference On 21 September, o free conference for Iroinees ond members seeking accredilalion through the Porllolio Polhway Ilormerly known as CESRI was provided by the Faculty. Held in the Dorchester brary of Ihe Royol College of Physicians ILondonl, speakers included Professor lan Brown who discussed Honorary Fellow Dr Vaughon Parson5 shared his advice on presenting reseorch. the link between diet and broin health, and Dr John Slerland who spoke obout shoping stress consultations. FOM Fellow Dr Nadia Sheikh delivered o session on wriling guidance lor healthcare professionals, and Prol lan Brown ond Dr John Slerland presenting on 21 September 2023 11
New evldence-based guidelines document summarising the occupalionol health principles lor heollhcore professionals. The Faculty ho5 launched new evidence- based guidelines that aim lo assist healthcare prole55ionals in Ihe workplace. Consullanl physician Dr Nadio Sheikh hos led on this work lor the Faculty. They hove been pioduced in an eosy-lo- reod. concise formal and the first two guidance monogemenl of upper limb disorders in working-age people and 5vpporling individuals back lo work aller Carpol Tunnel Release surgery. documen15 concern the e wonl lo i0de concise e enc&b05ed - guidance for heallhcure professiorLI who ore 05$tIn 9 pthents with work-re ated concems" fom These guidance accompanied by the production ol o documents hove been DI Nodbswh New Facu offlce ot the RCP In lole 2023. the Faculty opened o small ollice on Ihe ground floor at I 51 Andrew's Place within the London estate ol the Royal College of Physicians IRCPI. further strengthening the relationship between the Faculty and ils porenl college. 11 provides ideal space for hybrid working orrongements ond proximity to the main RCP event spoce. 2023 Annual Sclenllflc Meeting, Newcaslle On 14-16 June 2023, al the Frederick Dougloss Cenlre of Newcastle University, Ihe Focully and the Society ol Occupational Medicine held a joint conference, with eminenl speakers including Prof Sir Simon We55ely from Ihe Institute of Psychiatry, Psychology ond Neuroscience al King's College London, and Dr Elaine Wainwright, an expert in musculoskeletal health from the Universily ol Aberdeen. AGM, awards and onnuol dlnner New Members. Fellows, Honorory Fellow5. and prize recipienls were warmly welcomed and congraluloled at the 2024 FOM Awards held in Ihe magnificent Dorchesler Library ol the Royal College of Physicians on 21 Seplember 2023. The 2023 Annual Generol Meeting was held oller the presentation ol awards, ond followed by o celebratory dinner. 12
Celebrating 75 years of the NHS Faculty President Prof Steve Nimmo and FOM CEO Louise Craig were delighted lo be invited lo Weslminsler Abbey lor the 75lh anniversory celebration5 01 the NHS. HRH the Duke and Duchess of Edinburgh joined Prime Minister Rishi Sunak and Labour leader Sir Keir Slarmer lo thank the wide range of NHS health professiona15 present. Immedlate Past Pfe$ldenl owarded OBE Immediate Post President Dr Anne de Bono wos recognised lor her exceplionol conlribulion lo occupational medicine with on OBE, presented on Inlernotional Women's Doy by the Princess Royal, HRH Princess Anne. Dr de Bono played o key role in providing national advice during the pondemic and worked tirelessly lo raise the profile ol the specialily ol occupational medicine. Di Anne de Bono OBE, pictured al Windsor Castle Milh her son5 Looking lOard In 2024 Ihe Focully wll continue lo work wlh o wide range ol stakeholders and partners lo raise Ihe profile of occupational medicine, foster a beller understanding of the value ol occupotionol medicine and heollh. and the importance ol profes5ionol slandards, qualilicalion5 and mulli- disciplinory working. 11 is anlicipaled that this will include parlicipalion in o number ol advisory and expert groups working with governmenl. other medical specialities vio the Academy ol Medical Royal Colleges IAOMRCI. and the HSE. Engagemenl will continue with o wide ronge of seclor partner5, including the NSOH, SOM, the Council for Work and Health, the NHS Health al Work Network, and ollied health prole55ional bodies, such a5 the Association ol Chartered Physiotherapists in Occupational Health ond Ergonomics IACPOHEI- In September 2024. Prol Steve Nimmo will sland down aller his Ihree-yeor term ol ollice as FOM President ond a new President for 2024-27 will be elected, toking up the role ol President Elect to work alongside the currenl President lor six months prior. Academic Dean Prol Ira Madan wll also be stepping down from her role in 2024 and o new Acodemic Dean will be elected lo the Board ofTruslees. A period ol handover is planned lo ensure thol there is a smooth handover ol this important role. During 2024. the Faculty is expected lo receive confirmation from the GMC regarding proposed chonges lo the MFOM Parl 2 exominotion and lo implement the new fromework from lote 2024. 13
The e-porttolio platform will be replaced, most likely in lale 2024, to bring in a more inle9roled system lor troinee5 Qnd porlfolio pathway doctors to use lo uplood their evidence against the eleven learning outcomes al the curriculum. The project will involve consullalion with the Nalionol School ol Occupational Health INSOHI, Irainees ond supervisors lo produce o detailed 5pecilicalion. Work will start in 2024 on a new database ond website lor the Faculty and a wde range ol views sought. The aim wll be lo hove o clearer. more modern. user-friendly sile thol inlegiates seamlessly with the dotobose which the current sile does not. This should improve the user experience ol members ond improve odministralive elliciency. Events planned lor 2024 include a joinl SOM-FOM conference in Bellosl. a troineelporllolio palhwoy conference in the Midlands and the 2024 Awards Event ond Dinner al the Royal College ol Phy5icions, London. FINANCE REVIEW Performance during the year Trustee5 ore pleased lo report that FOM achieved a surplus in 2023 01 £255,11212022: £363,223). The Surplus that has amassed over the lost h've yeors. de5Plte no increase in membership lees during that lime, has helped the Foculty lo moirntain ond develop its octivilies. pay off all loans associated wilh the premises in Greenwich, and le05e an ollice ol the London eslole ol the Royal College ol Physicians. Income received in 2023 wos £1,515,334, up 2% or on the previou5 yeor12022.' £1,492,2591, which was broadly in line with budget expeclalions. Expenditure increased by 12% as a result ol inflolion and the need lo invest for growth. Income from membership subscriptions in 2023 remained similar lo the previous year, with <1% vaiionce, whilst membership numbers hove increased by around 2%. The increose in members is predominantly amongst Sludenl membership lorn increase 0145%) and Afliliole membership lup 16%). Although it is disoppoinling lo see that MFOM and FFOM memberships continue lo decline mainly due to retirement, Ihe increase in Alliliale and Sludenl membership is encouraging, ond aligns with FOM'S slrolegy of ollrocling the nexl generation ol doctors to occupationol medicine earfier in their careeT5, and 5UPPOrting more experienced doctors lo consider the PortFolio Pathway ICESRI route. Income from the SEQOHS accreditation scheme reduced by 3%. This is likely lo be dve lo organisation5 holding bock their opplicalions while wailing lor the release lor the new 2023 standards, evidence guides, temploles and website which launched in December 2023. There wos 0150 reduced uptake of SEQOHS training during 2023 lor the same reason, some ol which 14
SEQOHS used lo chorge for. In keeping with FOM'S public benelil aims, in 2024 FOM will offer o wider progromme ol flexible training lor all providers working towards SEQOHS accreditalion free of charge. Although this moy cause o modest fall in income in 2024, it is hoped Ihal the updated and improved 2023 stondard5. ond promotional aclivilie5 in 2024. will encourage more applications ond accredilalion overall. 2024 will see lurlher investment in the charify, including projects lo look ol providing a beller e- porllollo and FOM website lor members. Re$eNes At 3151 December 2023, FOM hod total funds of £2,878,76912022'. £2,623.6561. 01 this lolal, £76,171 12022.. £115,195) ore restricted funds and not available lor generol purposes. Due lo the investment in the long leasehold building, ol thi5 lime the charity has free reserves ol £1.450.402 12022: £1,121,855). Free reseNes are unre51ricled funds, excluding those elements Ihat can only be realised by disposing of tangible or intangible fixed 055ets or money sel aside lor lulure activitie5. During 2023 the Board look the decision to move some funds lo a low-risk, higher interest accounts that whilst not instant access, still allow occess within a relatively short period ol time. Once o decision is mode oboul the long-lerm locolion ol FOM ollices, the Board ol Trustees will review the Reserves Policy agoin and obtain appropriate professional advice on inveslmenls. Pension All FOM slolf are aulomalically enrolled on o pension scheme, in line with legislation regording workplace pensions. The scheme used is The People's Pension, which is a defined conlribulion scheme. fftus. no pension liabilitie5 will orise from its continuing implementolion. Budget 2024 In December 2023. the Board ol Trustees opproved o 2024 budget which sets an income target of £1,504.833 and a budgeted expendilvre of £1.432,032. The 2024 budget was drotted using a zero-based budgeting approoch Ihal requires all expenses lo be lully justified for each new budget period, and Ivnclions wlhin FOM are analysed b05ed on Importance and cost. The 2024 budgeted surplus is £52,801. The 2024 budget w05 bosed on no increase lo membership 5ubscriplions, which have been frozen since 2017 without any increase lor inllotion. 15
Goln9 Concern In reviewng FOM as o going concein. the Tru51ees have considered operolions. incorne. expenditure and lulure cosh flow ol the charity, including oreos where there may be uncertainty or deloys in lulure receipts ol income. and have considered polenliol miligolion5. Budgets and o C05h flow forecast hove been prepared through lo June 2025, ond sensilivily analysis performed on key Ossumplions. The financial lorecasling indicoles that the cash reserves are odequole lo meet the charity's obligations as they fall due. Truslee5 iemain ol the opinion that there are no material uncertointie5. Ihol the going concern ossumplion remains appropriate, ond that the financial 5tolemenls can continue lo be prepared on Ihis basis. AWARDS. PRIZES and FEILOWSHIPS Awards and prizes are usually presented in the yeor following ochievemenl. Peter Toylor Award The Peler Taylor Award is given to the candidalelsl with the best research dissertotion ol the year. Thi5 is a joint oward from the Faculty and the Society of Occupolionol Medicine and is judged by a panel from both organisalions. Dr Louise Hancock Wllllam Taylor Award In 1994 the Focully esloblished a memorial fund in memory ol the late Professor William Taylor, one of the FOM'S most distinguished Fellows. The fund is used to provide on examination prize lo be presented eoch year lo the candidole who. ot the first oltempl, passes oll sections ol the Parl 2 MFOMIAFOM examinolion and attains the highest overall mork. Dr Kylo Brown Dlploma In Occvpatlonal Medicine (Doccmed) Award Dr Philippo Leighton Dlploma In Occvpotlonol Health Practice (DipOHPrac) Award Ms Rianne Soleil 16
Honorary Fellows Piolessor Sir Chris Whilly Professor Corel Hu15hof Professor Gary Maclarlane Dr Vaughan Porsons Fellows (FFOM) Dr Marlin Ezan Dr Fiona Hancock Dr Mongola Palil-mead Dr Chandra Mulolik Dr Nodio Sheikh Dr Danny Wong Dr Murcus Wong Members {MFOM) Dr Laura Adcrofl Dr Jomes Quigley Dr Courtney Roberts Dr Emma Robinson Dr Olgha A50tioni Dr Brendo Dowson Dr Jonathon Hynes Dr Liselle Lyne Dr Peter McDowoll Dr Finola Ryan Dr Ali50n Tweedle Dr Victoria Weiss Dr Quralulain Mitza Dr Sarah Weston Dr Jenny Napier 17
ST ATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustee5 (who are olso directors ol the Faculty ol Occupalionol Medicine for the purposes ol compony lawl ore responsible lor preporing the Trustees, Report and the linanciol 51otements in accordance with applicable law and United Kingdom Accounting Slondords IUr)iled Kingdom Generolly Accepted Accounting Piacticel- Company law requires Trustees lo prepore finoncial slalemenls lor each linonciol year which give a true and loir view ol the Stole of the allairs ol the charitable company and ol the incoming resources and application ol resources, including the income and expendilure, ol the choriloble company lor Ihol period. In preparing these linanciol slalemenls, the Trustees ore required to.. select suiloble occounling policie5 and Ihen appb/ them consislenlly: observe the methods and principles in the Charities Slalement ol Recommended Practice ISORPI: make judgemenls and estimates that are reasonable and prudent,. 51ale whether opplicable UK Accounting Standard5 have been followed, subject to any material deporlure5 disclosed ond explained in the financial slolemenls,. and prepore the linonciol slotemenls on the going concern b0515 unless il is inappropriate lo presume that Ihe charilable company will continue in business. The Trustees are responsible lor keeping proper occounling records that are sufficient to Show and explain the charitable company's transactions and disclose wlh reosonable accuracy at any lime the financial position ol the charitable compony and enable them lo ensure Ihol the linonci01 slalemenls comply with the Componie5 Act 2006. the Charities and Trvslee Investmenl Iscollandl Act 2005 and regulation5 6 and 8 01 the Charilies Accounts Iscollondl. They are also responsible for 501eguording the ossels ol the charily and hence IOT toking reasonable steps for the prevention and deleclion of Iroud and other irregulorilies. In so far as the Trustee5 ore oware.. there is no relevont oudit information of which the chariloble company's auditor 15 unaware.. and the Trustees hove token all steps Ihol they ought lo have taken to make themselves oware ol any relevant audit information and lo e51obli5h Ihol the auditor is awore ol that information. The Trustee5 are responsible for Ihe maintenance and integrity ol the corporale and financial information included on the charilable company's website.
Legislalion in the United Kingdom governing the preparation and disseminolion of financial statements may diller from legislalion in other jurisdictions. AUDITORS Grillin Stone Moscrop & Co h05 indicaled ils wllingness lo be oppoinled a5 slalutory auditor. Thi5 report has been prepared toking odvanloge ol the exemptions available under the provisions ol the Companies Act 2006 applicable to smoll componies. APPROVED by the Trvslees and directors on 241h September 2024 and signed on their behalf by.. Professor Steven Nimmo Msc MRCGP MFMLM FRCP PFOM 19
Independent Audltor's Reporl to the Members and Trvstees ol the Focutty of Occupational Medicine Oplnlon We hove oudited the financial slolemenls ol the Focully ol Occupational Medicine lor the year ended 31 December 2023 which comprise the Slalemenl ol Financial Activities. Stalemenl of Financial Position, Cash Flow Slotemenl and notes lo the finonciol stolemenls. including significant accovnting policies. The linanciol reporting fromework Ihal has been applied in their preporolion 15 opplicable law and United Kingdom Accounting Standards, including Financial Reporling Slandord 102 The Financiol Reporting Stondord applicable in the UK ond Republic ol Ireland (United Kingdom Generolly Accepled Accounting Praclicel. In our opinion the financial slalemenls= give a true ond lair view of the slate ol the charitable compony's allairs as al 31 December 2023 ond ol its incoming resources and applicolion of resources, including ils income ond expenditure, lor the yeor Ihen ended.. have been properly prepared in occordonce with United Kingdom Generally Accepted Accounting Practice: ond have been prepared in accordance with Ihe requirements ol the Companies Act 2006 ond the Chorilies and Trustee Investment Iscollandl Acl 2005 and Regulolions 6 ond 8 01 the Charities Accounts Iscollondl Regulations 2006. Basls for opinion We conducted our oudil in accordance with International Stondords on Auditing IUKI IISAS IUKII and opplicable law. Our respon51bililies under those standards are further described in the Audilor's responsibilities for the oudil ol the finoncial slolements section ol our report. We are independent ol the charitable company in accordance wlh the elhical requirements that are relevonl lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, ond we have fulfilled our other ethical re5ponsibililies in accordance with these requiremenls. We believe Ihol the audit evidence we have obtained is sufficienl and oppropriole to provide a basis for our opinion. Concluslons relallng lo goin9 concern In auditing the linonciol stolemenls, we have concluded thol the trustee's use ol the going concern ba515 of occounling in the preporalion ol he financial slalements is appropriole. 8asÈd on the work we have performed, we hove not idenlilied ony material uncertainties reloting to events or conditions that, individually or collectively. moy c05t signilicanl doubl on the charitable company's ability lo continue as a going concern for a period ol ol least twelve months from when Ihe linor)ciol statements are aulhorised for issue. Our responsibilities and the responsibilitie5 of the Iruslees with respecl lo going concern ore described in the relevant Sections ol this report. 20
other Inlormallon The trustees ore responsible lor the other inlormolion contained within the annual report. The other information comprises the inlormalion included in Ihe onnual reporl. other than the linoncioS slalemenls and our auditor's report Ihereon. Our opinion on the Ilnoncial slalemenls does not cover the other inlormolion ond, except lo the exlenl otherwise explicitly sloled in our report, we do nol express any form of assurance conclusion thereon. Our responsibility is lo read the olher information and, in doing so, consider whether the other information is materially inconsislenl with the financial slalements or our knowledge obtained in the audit or other4Vi5e appeor5 to be moleriolly misslaled. 11 we identify such molerial inconsistencies or opparenl material misslalemenls, we are required lo determine whether this gives rise lo a materiol misslolemenl in the financial statements Ihemselves.11, b05ed on the work we have performed. we conclude that there is o molerial mi5slolemenl of thi5 other informolion. we are required lo report thot fact. We have nothing lo report in this regord. Oplnlons on other matters prescTlbed by the Companles Act 2006 In OLJf opinion based on Ihe work undertaken in the course ol our oudil the inlormolion given in the Iruslees, report, which includes Ihe directors, report and the strategic report prepored lor the purposes ol company law, lor the finonciol yeor lor which the financial slolements ore prepared 15 consislenl wth the linoncial slalements., ond the strategic report and the directors, reporl included within the Iruslee5' report hove been prepored in occordonce with opplicoble legal requirements. Matters on whlch we are requlred lo report by exceptlon In light of the knowledge and understanding ol the chariloble company and their environment obtained in the course of the oudil, we have not identified material misslalemenls in the directors, report included within the Irustee5' report. We hove nothing lo report in respect of Ihe lollomfjng mallers in relalion lo which the Componies Act 2006 and the Charities Accounts (Scollandl Regulalions 2(X)6 requires us lo report to you il. in our opinion.. adequate and proper accovnting records hove not been kept., or the financial slolemenls are not in agreemenl wylh the accounting records and returns,. or certain disclosures ol Irvslees, remunerolion specified by law are not made,. or we have not received all the inlormalion and explanations we require lor our audit. Respon$lbllllles ol Trvstees As explained more lully in the Iruslees, responsibi5ilies statement, the Iruslees (who ore also the directors ol the charitable compony lor the purposes of company Saw) ore responsible for the preporoliDn of the financial slalement5 and lor being satisfied that they give a true and lair view, and lor such internal control as the Iruslees delermine is necessary to enable the preparation ol 21
financial slalemenls that ore free trom material misslalemenl, whether due lo fraud or error. In preparing the financial slalemenls, the Iruslees are responsible for ossessing the charitable compony's obilily lo continue os a going concern, disclosing, as applicoble, mollers relaled lo going concern and vsing Ihe going concern basis ol accounting unless the Iruslees either intend lo liquidate the charitable compony or lo ceose operations, or hove no realistic allernalive bul lo do so. Audlloi's responslbllllies for the audit ol the flnanciol slalemenls Our objeclive5 ore lo obloin reosonoble agsurance about whether the linonciol 51olements as a whole are free from molerial misslatemenl, whether due to fraud or error. and to issue an auditors. report that includes our opinion. Reasonable 05surance is o high level ol assurance, bul is nol o guarantee Ihol on audit conducted in occordance wlh ISAS IUKI will olways delecl a material misstalemenl when il exists. Misslalemenls can orise trom froud or error and are considered malerial if, individually or in the oggregote, they could reosonobly be expected lo influence the economic decisions ol user5 token on the basis ol these financial slalements. Irregularities. including Irttvd. ore instances ol non-compliance with laws and regulolions. We design procedure5 in line with our responsibilities, outlined above, lo delecl material mi5slalemenls in respect of irregulorilies, including fraud. The exlenl to which our procedures ore capable ol delecling irregularities. including fioud is detailed below.. corrying out subslanlive checking lo supporting docvmenls on o somple basis ol individual Ironsaclions within income and expenditure lo give comfort Ihot on a sample basis the SOFA does not conloin ony irregular items., carrying oul wolk-through lesling lo verily that the charily'5 accounting systems and controls are being implemented as designed., and verifying Ihal moleriol balances within the B(Jlonce Sheel are supported by third party evidence lo confirm the existence and valuatlon of these balances al the balance sheet dote. As parl ol an audit in occordonce wlh ISAS IUKI, we exercise professional judgemenl and maintain profe55ionol scepticism Ihroughoul the audit. We also.. Identity and ossess the risks ol material misstatement of the financial 51alernenls, whether due lo Iroud or error. design and perform audit procedures responsive lo those risks. and obtain oudil evidence that is suflicienl and appropriate to provide a b051s l(y our opinion. The risk ol nol detecting a material misslalemenl resvlling from froud is higher Ihan for one resulting from error. a5 Iroud may involve collusion. forgery, intentional omissions. misrepre5enlalion5. or the override ol internol control. Obtain on underslanding of internal control relevant lo the oudil in order lo design audit procedures Ihot are appropriate in the circumslonces, bul nol for the purpose of expressing an opinion of the elfeclivene55 ol the charilable company's internal control. 22
Evalvole the appioprialeness of accounting policies used and the reasonobleness ol accounting eslimales and related disclosures made by the Trustees. Conclude on the approprialeness ol the Trustees, use ol the going concern basis ol accounting and, based on Ihe audit evidence obtained, whelhef a malerial uncerloinly exists related lo evenls or conditions that may c051 significant doubl on the choriloble company's ability lo continue as a going concern.11 we conclude that a material uncerloinly exists, we are required lo draw ollenlion in our auditors, report lo the related disclosures in the linonciol slolemenls or, il such disclosures ore inodequale, lo modify oui opinion. Our conclusions ore based on the oudit evidence obloined vp lo the dale ol our oudilors, report. However. lulure events or condition5 may cause Ihe charitable company lo cease to continue os o going concern. Evoluale Ihe overall presentation, structure and content ol the linoncial slolements. including the disclosures, ond whether the finonciol slolemen15 represenl the undedying Iransaclions and even15 in o monner thol ochieves lair presentation. We communicate with Ih05e chorged th governance regarding, omong other mollers. the planned scope ond liming of Ihe audit and 5ignilicanl audit findings, including ony signiliconl deficiencies in inlernol conlrol that we identify during our audit. We communicate with those charged with govemonce regarding. among other molters, Ihe plonned scope and liming ol the audit and significar)l oudil findings. including ony significant deficiencies in internal control Ihol we identify during our audit. Use ol our report This report is made 501ely lo Ihe charitable company's members, as o body, in accordance Kqlh Chopler 3 of Parl 16 01 Ihe Companies Act 2006. Our oudil work hos been underloken so Ihol we might slale lo the charitable company's members those mollers we ore reqvired to slate lo them in on auditor's report ond lor no other purpose. To the lullesl extent permilled by low, we do not accept or os5ume re5ponsibilily lo anyone other than the choiitable company and the chorilable company's members as a body, lor our oudit work. lor this report, or lor the opinions we have formed. Robert Smith (senior slolulory auditor) for and on beholf ol Grillin Stone Moscrop & Co Chartered Accounlanls stotulory Auditors 21-27 Larnb's Conduit Street London WCIN3G5 Date.. 7/9 /zoL 23
STATEMENT OF FINANCIAL ACTIVITIES (Incorporatlng the Income & Expendlture Accovnt) Year ended 31 December2023 General Funds Reslrlcted Funds Total 2023 Total 2022 Notes INCOME FROM ChaTilable aclivilies Subscriptions Quolilicalion5 ond Iroining Publications SEQOHS MoHaWK Revalidalion Grants and conlracts Conferences and events 392.192 395,035 6.716 549,155 13,100 114,024 392.192 395.035 6.716 549.155 13.100 114,024 393.977 301,248 6,307 564,085 12,350 115,998 29,166 7.228 15,366 15,366 other acllvltles Other income Interest on mortgage Inveslmenl income 168 168 2.(K)O 54,940 4,960 29.578 29.578 Tolol 1.515,334 1.515.334 1,492,259 EXPENDITURE Charilable activities 2,3,4 .221,196 39,025 1,260,222 1,129,036 Net Ineome/{expendllure) 294,138 139.0251 255.112 363,223 Net movement In funds 294.138 139.0251 255.112 363,223 Reconciliotion ol funds Totol funds brought forword ol l January 2023 2,508,460 115,196 2.623.&56 2,260,433 Total funds carried forward al 31 December 2023 2,802,598 76.171 2,878.769 2,623,656 All income has been generated from continuing operations. All recognised gains are included in the Slatement of Financiol Activities. 24
STATEMENT OF FINANCIAL POSITION 31 Decembei 2023 2023 2022 Notes FIXED ASSETS Tangible ossels 1,352,196 1,386,604 1,352.196 1,386,604 CURRENT ASSETS Deblors Cosh on deposit Cash al bonk ond in hond 118.901 370,129 154.849 368.914 1,505.509 1.202.043 1,994.539 1,725,806 CREDITORS Amounts lolling due within one year 1467,9671 1488,7541 (467,967) 1488.7541 NET CURRENT ASSETS 1,526,572 1.237,052 NET ASSETS 2.878,769 2.623,656 Unreslrlcted funds Generol fund5 2,802.598 2,508.460 2.802.598 2,508,460 Restricted lunds 76.171 115.196 TOTAL FUNDS 2,878,769 2.623,656 The finoncial statements, which were approved ond oulhori5ed lor issue by the Board of Trustees and directors ol the company on 24th September 2024. were signed below on its behalf by.. Presldenl.. Professor Steven Nimmo Company RegtratIOn No.. 07461063 Treasurer: Dr Yousel Habbab 25
2023 2022 STATEMENT OF CASH FLOWS Yeor ended 31 December 2023 Reconclliation ol nel Income / (expendllure) lo nel cash flow Irom operating aclivllles Nel expenditure lor the reporting period per SOFA Depreciation charges Inleresl payable Dividends and interest from investments Ilncreaselldecrease in debtors Ilncreaselldecreose in creditors 255,112 34.969 363.223 61,312 25.466 14,9601 132.8121 118.2931 129.5781 35,949 120,7841 Nel cash {used In) operating a¢tlvllle$ 275.668 393,938 Cash flows from Invesllng aclivlties.. Dividends and interest from inveslmenls Purchase of properly. plant and equipment 29,578 15631 4.960 12,2271 Nel cash (used In) Invesllng activltles 29,OT5 2,733 Cosh flows from flnanclng actlvitie5'. Intere51 payable Loon repayment Mortgage repayment- funding break fund 125,4661 1507.0241 154.9401 Nel cash provided by Inve$llng acllvllles 1587,4301 Change In cash and cash equlvalents In Ihe reportlng perlod 304.683 1190,7591 Cash and cash equlvalents al Ihe beglnning of the reportlng perlod 1.570.957 1.761,716 Cash and cash equivalents ot the end ol the reportlng peilod 1,875.639 1,570.957 2023 2022 Analy$ls of cash and cash equivalents.. Cash in hond Notice deposit5 Ile5s than 3 months) 1,505.509 370,129 1,202,043 368,914 Total cash and cash equivalents 1,875,639 1,570,957 26
NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 ACCOUNTING POLICIES Company Information The FOM is a Public Benefit Enlily registered os charity and a company limited by guoronlee (Compony regislrotion No.. 074610631. The address of the registered office is 2 Lovibond Lane. London, SEIO 9FY. The Chorily Is registered in England and Wales Iregislered number 11395131 and in Scotland Iregislered number Sco4601. {0} Basls ol prepafalion of the accounts The linoncial 5totemenls have been prepared under the historical cost convention in accordance with the Financiol Reporting Standard applicable in the UK and Republic ol Irelond IFRS1021, Ihe Companies Act 2006 and the Slalemenl of Recommended Proclice opplicoble lo charities preparing their occovnls in accordance wlh the Finonciol Reporling 51andord opplicable in the UK and Republic of Ireland IFRSI 021. The functional currency ol the Foundolion 15 considered to be GBP becouse thol is the currency ol Ihe primory economic environment in which the FOM operoles. {b} Going concern The Board ol Trustees has a reasonable expeclalion that the charity h05 adequate resources lo continue ils activities for the foreseeable lulure and remain ol the opinion that there are no maleriol uncerlainlies and that the going concern ossumplion remains appropriole and that Ihe tinanciol statements continue lo be prepored on this basis. Accordingly. they conlinue lo adopt the going concern bosis in preparing the financial slolemenls 05 outlined in the Statement ol Trustees, Responsibilities. {c) Tanglble Plxed assels Individual tangible fixed assets costing £5 or more ore capitali5ed al cost. Depreciation is charged $0 os lo write oll the cost of an as5el over ils expected useful life. Depreciation is calculated on each closs ol ossel as follows: Ollice equipment Fixtures & liltings Air-condilioning plant Properly 33.33% straight line 20.00% slraighl line 20.00% slroighl line 2.00% slraighl line (d) Intanglble Flxed assels All individual inlongible fixed assets are capitalised ot C051. 27
Amortisalion is chorged so as to write oll the cost ol on osset over ils expected useful life. For IT projects. expected useful life is eslimoled lo be live yea15 al which point support from the developer is wlhdrawrn and replacement IT solutions are required. Amorlisolion 15 colculated on each class ol asset as follows.. IT projects: 20.00% slraighl line le) Income Income from subscriptions 15 accounted lor on an accruals basis. Any income reloling lo future period5 is included in deferred income. Income in respect ol grant5. oppeols and donations is recognised upon o receivoble or received b05is whichever is the eorlier. Income from examinolions 15 recogni5ed on the date the examination fakes place and income received in advance is treated 05 deferred income. Donoled locililies are included ol the value lo the Trustees where this con be quanlilied and a third porly is bearing the cosl. No amovn15 ore included in the financial statements for services donoted by volunteers. Operallng leases Inslalmenls under operating lease agreements are chorged lo the Slolemenl of Finoncial Aclivilie5 account in the year in which they are incurred. Ig) Investmen15 Investments are included at market value. Unrealised goin5 ond losses on inveslmenls orising in the yeor ore included in the Statement ol Financial Activities lor the yeor in which they arise. (h) Cash held al bank and In hand Cash held al bank and in hond include cash held in the Foculfy's current bank occounl. ils no notice savings bank account and it5 pelly cash. Flnanclal Instrumen15 Financial a55et5 held al amorlised cost comprise c05h held al bank and in hond. cash on deposit and Irode deblor5. Financial liabilities held al amorlised cost comprise trade creditors. 28
(il Pension5 Contributions are made on behalf ol certain employee5 into o workplace defined contribution scheme called The People's Pension managed by B&CE. Amounts are chorged lo the Slolemenl ol Financial Aclivilies as incurred. (kl Funds Unrestricted general funds ore lund5 which the Trustee5 can use al their discretion in occordonce with the objects of the Faculty. The Trustees have designated poll ol this Sum as o capital fund, equal to the value ol the investments which are to be used lo ensure the future ol the Faculty. Reslricled funds are Ivnds which musl be used lor specific purposes in occordonce with the donors, wishes. Basls of allocallon of cosls Stall costs are ollocaled based on Ihe amount ol lime individuals dedicate lo carrying out Specific lunclions ol the Focully. All other costs are allocated on a specific bos1S. (m) Expendllure Acliwlie5 in lurtheronce of the Faculty's objects include costs reloling lo exominations, memberships and education ond training ond irlclude an appropriate proportion ol support costs. Support costs are those c05t5 incurred directly in support ol expenditure on the objects ol the chority and include project managemenl. Supporl costs have been allocofed lo charitable and fundraising activity on the basis ol lime Spent by sloll in supporting the operation. Governance costs ore those incurred in connection with enabling the charity lo comply with exlernol regulation, conslilulional and 5totulory requirement5 Qnd in providing supporl lo the Trustees in the discharge of their statutory duties. (n) Legal slatus The Focully ol Occupational Medicine is a private company limlled by guaronlee. Every Regislranl underlakes to contribute such amount as may be required (not exceeding one pound) lo the assets of the charity in the event ol ils being wound up while helshe is a Regi51ronl, or wilhin one year aller he ceases lo be a Registrant. lor payment ol the debts and liabilities ol the Focully contracted before helshe ceases to be o Regi51ranl ond of the costs, charges and expenses ol winding-up and for Ihe adjustment ol th& rights ol Ihe contribulories among Ihemselves. the Faculty'5 Articles ol Associolion defines a Regislranl os.. Speciolly Registrars, Associales. Members. Fellows. elected repre5enlatives ol subscriber 29
classes, lay Trustee5. Tru51ee5 who represenl the College IRoyol College ol Physician51 ond co-opted Trustees, who ore members ol the Faculty lor the purposes ol Ihe Companies Acts. lo) Key Judgements and assvmplions No judgements, apart from those involving estimation5 or assumptions, were made in the preporalion ol Ihese linancial stotemenls and notes. ANALYSIS OF COSTS Direct Costs Dlrect Salaries Support Costs Total 2023 Total 2022 Quolilications and training 56,914 159.956 94,486 311.356 274,848 Publication 3,733 2,205 5.938 9,086 Revalidolion, professional developmenl ond slondards 20,566 99,013 58,487 178.065 163,970 Adminislralion ol lur)ds 2.036 1,203 3,239 3,007 Conferences, events and projecls 23.523 13,819 8,163 45,505 52,039 Membership 71.021 51,934 30.678 153.633 156,195 Meetings 6,708 6.708 4,705 MOHAWK 7,900 2.036 1,203 11,907 5EQOHS 198.251 193,224 114.138 505,612 415,5(X) 384,882 525,752 310,562 1.221,196 1,090.257 Support costs of £310,56212022= 03,080) have been allocoted acros5 activities. Support cosls have been opportioned bosed on the slofling c0515 01 each activity in order to reflect the demands each activity mokes on central support resources. 30
BREAKDOWN OF SUPPORT COSTS 2023 2022 staff 49,162 49,866 Communication 9,737 8.491 Printing, postage and stotionery Premises 3,572 4,092 31.618 35,289 Repairs and maintenance Advertising and recruilmenl Irrecoverable VA T 6.718 15.213 18,583 12.000 13.754 110.5571 783 Accounlancy lees Governance costs 909 57,627 60,900 Depreciation other direct C05t5 34.969 61.312 73,913 65,691 310.562 303,080 GOVERNANCE COSTS 2023 2022 Slalf 48,945 50,612 Audit lees 9,750 Trustees, meetings 3,682 538 57,627 60,9(H) REMUNERATION OF TRUSTEES The Trustees did not receive remunerolion or any benelils during the year lor their services12022'. nill. Nine Tnjslees were reimbu15ed for expenses incurred in relation lo Faculty business amounting 10 £6,385 12022.- 9 Trustee5 £4,680). These expense5 included private mileage, railltube lore. accommodolion, parking and subsistence. 31
STAFF COSTS 2023 2022 Wages and salaries Social security costs Pension costs 536.331 498,668 60,429 50,951 27.100 26,725 623,860 576,344 The overoge head count Inumber ol staff employed during the yeorl was.. 13 One member of 5tofl remunerated in the £110,001 10 £130,000 range in 2023 12022.. 1 l. The associated pension costs of this individual were £3.770. One member of stall remunerated in the £80,00110 £1 10,000 range in 202312022: 01. One member of sloll remuneroted in the £60,00110 £70,000 r(Jnge in 202312022.. 01. The total of employee benefits including 5olories received by the key management personnel ol the Faculty wo5 £459,16412021: £411,9951. Key manogement personnel comprise.. Chief Executive Officer,. Head of Assessmenl & Quolily., Head of Finance and Membership,. Examinations and Training Monager,. Professional Slandords Manogei.. Heod ol Commvnicolion5 ond SEQOHS Accredilolion Manager. 32
TANGIBLE FIXED ASSETS Propety Fixtures and Ilttings Offlce equipment Total conditloning plant Cost Al l January 2023 Additions Disposals 1.547.216 132,594 47,570 74,684 563 1.802.064 563 Al 31 December 2023 1.547,216 132.594 47,570 75,247 1,802.627 Deprecialion Al l January 2023 Depreciolion in current yeor Depreciation on disp05als 1165.1961 1132.5941 147,5701 170,1001 {415,460) 130.9421 14.0271 (34,969) Al 31 December 2023 1196,1381 1132,5941 147,5701 74.1271 {450.429) Nel Book Value Al 31 December 2023 1.351,077 1,120 1.352,197 Al 31 December 2022 1.382.020 4,584 1,386,604 DEBTORS 2023 2022 Accrued income Trade debtois 9.124 3,896 62.339 47,438 106,186 44,767 Prepaymenls 118,901 154,849 CREDITORS.. omovnls falllng due wllhln one year 2023 2022 Trade creditor5 Credit cards Accruols Deferred income Tax, social security, and pensions 14.851 2,977 40.009 380,038 30.092 30,350 500 27,443 408,635 21,826 Note 10 467.967 488.754 33
io DEFERRED INCOME Examlnallon$ Subscriptions SEQOHS TOTAL 2023 Balance ol l Januory 2023 Amounts released during the year Amounts deferred in the year 17.671 105,604 285,359 408.635 117.6711 14.884 1105,6041 105.587 1285.3591 259,567 1408,6351 380,038 Bolance 0131 December 2023 14,884 105.587 259,567 380.038 I I FUNDS Asat l January 2023 Asal Oulgolng Transfer$ 31 December Resources 2023 Ineoming resources a) R&slrlcled funds Good Practlce Guidellnes Funds Rolls Royce Guidelines Fund Academic Actlvltles Funds obbs Trovelling Fellowship Fund Donald Hunter Lecture Fund Ernesline Henry Lecture Fund Esgo Research Fellowship Fund Exxonmobil Elective Fellowships Fund Wilf Howe Fund Williom Taylor Memorial Fund Academy of Medlcol Royal Colleges Revalidalion work CPD online Department ol Heollh le-LfHI e-learning HWM diploma gronl Professional Briefing5 grant NHS England/NHS Improvemenl Defining the skills of an Accredited OH project 4,499 4.499 4,166 11.069 3,087 563 4,166 11,069 3.087 563 1.695 4.181 470 1,695 14001 70 3,203 13,2031 44,736 2,000 105 44,736 2,000 105 35,422 135.4221 115,195 139,0251 76.771 b) General lunds 2.508,461 1,515.334 11,221,196) 2.802,598 Tolal lunds 2,623.656 1.51 S,334 (1,260.222) 2,878.769 34
DESCRIPTION OF FUNDS Restrlcled Funds: Good Pructlce Guldelines Funds.. Rolls Royce Guidelines Fund$ were provided originally lo cover the costs ol Focully bock pain guidance ond leallels. As sullicienl guidance was available elsewhere. the Facvlly negolialed on allernolive use wilh the provider. Academic Aellvitles Fun Donald Hunter Lecture provides funds lor the costs incurred in connection wlh a biennial leclure given in his memory. Einesllne Henry Lecture endows o lecture in memory ol Mrs Ernestine Henry to be delivered al least once every three years. Esso Reseorch Fellowshlp Fund comprises a number of onnuol donations. lo provide o research fellowship. Exxonmobll Elective Fellowshlps Fund funds electives open lo medicos undergraduates and doclois in Foundolion Years l and 2. Wllf Howe Fund provides o prize for an innovalive piojecl in memory ol Dr Wilf Howe. Willlam Taylor Memorlol Fund provides lor an exominotion prize. Accdem of Medical Ro al Colle es.. Revalidotion work funding is lo develop an online CPD system, an e-porllolio, to pilot revalidotion, lo train specially advisers, and lo provide o helpdesk. De ortmenl of Health.. -LfH provided funding lor the development ol leorning modules on heolth ond work lor general praclilioners. Dlploma grant provides funding lo develop o new diploma. Prolesslonal brlefings grant provides funding to run professional briefing workshops. NHS En land NHS Im rovernent: Oelining the volue ol accredited specialists in occupolional medicine working in the National Health Service and exploring luluie opporlunilies for enhoncing the provision of occupational heollh services in Englond. 35
12 FUNDS Asal l January 2022 Asal Oulgolng 31 December Re50vrces 2022 Incomlng resources Restrlcled funds Good Practlce Guidelines Funds Rolls Royce Guidelines Fund 4.499 4,499 Academlc Actlvllies Fund$ Mobbs Travelling Fellowship Fund Donald Hunter Lecture Fund Ernesline Henry Lecture Fund Esso Research Fellowship Fund Exxonmobil Elective Fellov15hips Fund Will Howe Fund William Taylor Memorial Fund 4,166 4,166 11.069 11,069 3.087 3,087 563 563 1,695 4,181 1,695 4,181 469 469 Academy of Medlcol Royal Colleges Revalidalion work CPD online 12,482 19.2791 3,203 Depurtmenl of Kealth l&LIHI e-leorning HWM diploma grant 44,736 2,000 44,736 2,000 Professional Briefings grant 105 105 NHS England/NHS Improvemenl Defining the skills ol an Accredited OH project 39.922 25.000 129,5001 35,422 124,808 29,166 138.7791 115.195 b) General lund5 2,135,625 1.463.093 11,090,257) 2,508,461 Total lunds 2.260,433 1,492,259 {1.129,036) 2.623.656 36
13 ANALYSIS OF NE[ ASSETS BETWEEN FUNDS The nel assets ore held lor Ihe various funds as follows.. Unrestricted General Restricted Total Tangible fixed 05sets Nel current assets 1,352.197 1.450.402 1.352,197 1,526,572 76.171 2,802,598 76.171 2.878.769 74 ANALYS15 OF NET ASSEtS BETWEEN FUNDS 2022 The nel assels are held for the various Ivnd5 as follows.. Unrestricted Restricted General Total Tangible fixed assets Nel current ossels 1,386.604 1,121,856 1.386,604 1.237.052 115.196 2.508.460 115.196 2,623.656 15 COMMITMENTS UNDER OPERATING LEASES 2023 2022 Not later than l year 6,300 6,300 16 CONNECTED CHARITY The Focully of Occupational Medicine is an independent registered charity responsible for ils own adminislralion and financiol management. 17 RELATED PARTY TRANSACTIONS There were no related paty Ir(Jnsoclions in the reporting period Ihol require di5closvre. 37
18 STATEMENT OF FINANCIAL ACTIVITIES 2022 General Funds Reslrlcled Funds Tolol 2022 Tolal 2021 Notes INCOME FROM Chailtoble ocllvltles Subscriptions Qualilicalions and training Publicolion5 SEQOHS MoHaWK Revalidalion Gronls ond conlroc15 Conferences and events 393.977 301,248 6.307 564,085 12.350 115,9?8 393,977 301,248 6,307 564,085 12,350 115.998 29.166 7.228 405,955 338,277 7.640 577.476 13.425 117,962 70.000 1,154 29.166 7,228 Olher acllvllles Other income Interest on mortgage Inve51menl income 2,000 54,940 4,960 2,000 54,940 4.960 1.148 636 Total 1,463.093 29,166 1.492,259 1,533.673 EXPENDITURE Charitable activities 2,3,4 1.090,257 38,779 1.129.036 1.104,069 Nel Income/(expenditure) 372.836 19.6131 363.223 429,604 Net movement in funds 372,836 19.6131 363.223 429,604 Reconciliolion of funds Total funds brought forward al l January 2022 14 2.135,625 124.809 2,260.433 1,830,829 Tolol funds carried lorword al 31 December 2022 2.508.460 115.196 2.623.656 2,260.433 All income has been generated from continuing operations. All recogni5ed gain5 ore included in the Slolemenl of Financial Aclivilies. 38
fom FacultyOfOcwt1onal hIdiCIn* www.fom.ac.uk wMiw.seqohs.org I Sf Andrew's Place 2 Lovibond Lane London London NWI 4LE SEIO 9FY