Faarltyof Ot￿patIOnal 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"'
StirthlDrinoxuFa￿￿alh1￿s￿rbi(￿p￿deT
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
L￿￿e￿landirO 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
i0￿de
concise e
enc&b05ed -
guidance for heallhcure
professior￿LI 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 lO￿ard
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 Reg￿tratIOn 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 Sco4￿601.
{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

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