Annual Report and Accounts '" 2025 Charity Commission No 1139516 Scottish Charity No SC040060 Registered in England No 07461063 111 OUR VISION Heolthy working lives for oll. OUR POSITION The Faculty of Occupational Medicine believes everyone ol working age has the right to benefit from heollhy ond rewording work while not pulting themselves or olhers at unreasonable risk. To achieve heollhy working lives for all, we work towards comprehensive provision ol timely and effective occupational heolfh advice in all employmenl sectors, $0 thot ill heolth and injury related to work may be prevented, 10 5UPPOrt those wilh health condilions and disabilities in their work, and for all who would wish lo and are able to work. lo be reop the benefil from being in good work. OUR MISSION To drive improvement in the health of the working oge populalion through sale ond effective occupotionol heolth capability and by developing ond supporting the good practice ol occupotional medicine. To provide public benefit Ihrough the proteclion ol people at work by ensuring the highest professional standards ol compelence. qualily ond ethical integrity. OUR VALUES Collaborative, Authorilotive. Relevonl, Ethical CONTENTS Trustees, Report Inlroduction from the President and Choir of Trustees Charity inlormolion Board ol Trustees. Council and other key appoinlmenls Membership Reference and adminislrolive information struclure, governonce ond management Choritoble objectives Achievements 10 Finance review 16 Slalemenl ol Trustees, Responsibilities 19 Independent Auditors, Report 21 statement of Flnancial Actlvitles 26 statement of Flnanclal Posltlon 27 statement of Cash Flows 28 Notes to the Finonclal Stotements 29 TRUSTEES, REPORT Introductlon from Ihe Presidenl and Cholr ofTruslees, Di Robln Cordell 11 has been a busy yeor lor Ihe Faculty. Our engagement with health and work nationally ha5 included our contribution lo Ihe updoled 2025 Acaderny ol Medical Royol Colleges. Royal College of Nursing, and Allied Health Professiona15 Con5ensu5 Stolement on Health and Work, presented to hAinisters. We have been engoged closely also with the Keep Britain Working IKB Wl Review, led by Sir Choilie Mayfield, and the vonguord phase launched following publicolion of Ihe KBW final report in November 2025. The interest government has in keeping people well in work, ond the KBW work in porticulor. represent o real opportunity to make a difference to the prevention of ill heolth relating to work, and in supporting those wth health conditions ond disobililies lo stay in work, across o115ector5. We hod on excellent annuol SOM-FOM occupotionol health conference in Brighlon in Jvne. The keynote tolks given by Sir Stephen Timms MP, Minister lor Disability. Dr Goil Allsopp, Chief Medical Adviser al the Deportment for Work and Pen5iorns. and other distinguished speokers including Dame Jenny Horiies ond Dame Carol Black made clear the opporlunily we have lo enable real improvement in the health ol workers nationolly. Following this, we in FOM Board agreed lo explore selting up o sister chority to support FOM'5 vision ol healthy working lives for all the College ol Work and Health ond following discussion with a wide ronge of 51akeholders, including the HSE. we announced the foundation work for Ihis in September 2025. Through the efforts ol the Academic Dean, Foculfy staff and the exominers, further ploces for the diploma examination5 have been crealed as demand grows, andwe ore increasing the number ol trained examiners lor the MFOM Part 2, 05 well os for the Diploma in Occupalionol Medicine, where eligibility lo exomine now extends to those with MFOM Parl 21AFOM. We broke wlh Irodilion in September by having an Awards Evenl ond Ivnch thi5 year for prize winners. new Members and Fellows and Iheir lomilies. I have been highly impressed by the quality ol Ihose joining our 5peciolfy. whether through the lormol resident doclor route or the porllolio polhway. Occupational medicine is populor and numbers ol specially trainees have increased in 2025 from the number in 2024.1 hove also been encouraging commercial provider colleagues to estoblish troining posts in their organisalion5. In 2025 the Ethics Committee was reformed in line with new terms of reference, and the ninth edition of the Ethic5 Guidonce is expected lo be published on the Foculty's website in Spring 2026. ovoilable lo all free of chorge. We ore unique omongst the Medical Royal Colleges and Faculties in nol increasing membership lees since 2017, and we remoin in o sound position linanciolly. 15hould like lo thank oll members and all volunteers, including exominers, whose workls 50 crilicol to the lulure ol the specially. I would 0150 like to pay tribute to Hilary Winch ond ull members ol the Ethics Committee lor all the work they have done in just o lew months. Finally. I thank my colleagues on the Board lor their involuable contributions, and the FOM slafl, led by Louise Craig, lor Iheir exceptionol work ogoin in 2025. Dr Robln Cordell MBA FRCP FFOM CHARITY INFORMATION OARD OF TRLISTEES, COUNCIL AND OTHER KEY APPOINTMENTS Board of Trvslees The Boord of Trustees comprise5 Ihe charity Trustees of the Faculty ol Occupalionol Medicine IFOMI. The Trustees ore olso the directors of the company under the Componies Act 2W6. Except where indicaled, the following all Served as Trustees and directors throughout 2025.. Dr Robin Cordell President Dr Rikard Moen Registrar & Deputy Presidenl Ilo Sepl 20251 Registrar & Deputy President Ifrom Sept 20251 Academic Deon & Deputy President (to June 20251 Academic Dean & Depuly President Ilrom Sepl 20251 Lay member, Employers, Represenlalive (from Mor 20251 Elected member Ilo Sept 20251 Elected member Ifrom Sept 20251 Co-opted (to June 20251 Co-opted (from March 20251 Treasurer Ilo Sept 20251 Treasurer lfrom Sept 20251 Loy Member, Employees, Representative Dr Tosin Tolabi Dr Momedo Deen Dr Helena Kotherine Nixon Rachel Suff Dr Lisa Curran Dr Shriti Pallani OBE Prol. Neil Greenberg Prol. Joonno Yatker Dr Yousef Habbab Dr Anli Zhov Ms Lynsey Mann Councll The Council meets four times o year ond is choired by the Academic Dean. Council membership lor 2025 was as follows: Dr Momeda Deen Academic Dean and Chair ol Council Ilo June 20251 Academic Dean and Choir ol Council (from Sept 20251 Director of Examinotions (to Sept 20251 ond Regislrar & Deputy President Ilrom Sepl 20251 Choir of Council for Work and Health (to June 20251 Resident (Troineel Repre5enlalive Ilo June 20251 Associate Member Dr Helena Nixon Dr Tosin Talabi Dr Steve Boorman CBE Dr Daniel Border Dr Aidan Chollen Dr Robin Cordell President Ms Louise Croig FOM Chief Executive Officer Dr knso Curran Director of Training (to Sept 20251 Represenlalive from the NHS Relired Members, Representative Convenor of FOM Scolland Dr Anne De Bono OBE Dr David Flower Dr David Haldane Dr Rikard Moen Registrar (to Sepl. 20251 Scientific officer Dr Finola Ryan Dr Ashika Sequeiio Dr Jon Spiro Dr Andrew Sproston Dr Tolani Osunsonya Portfolio Polhwoy Representative Portfolio Pathway Lead Convenor of FOM Woles Direclor of Exominations (from Ocl 20251 Dr Martin Tohill Convenor of FOM Northern Ireland Ilrom Dec 20251 Convenor ol FOM Norlhem Ireland Ilo June 20251 Resident5, Representolive (from June 20251 Chair of the Ethics Committee (from Sept 20251 Re5pon5ible Officer lor Revalidalion Dr Denise Connelly Dr Kabir Varghese Ms Hilary Winch Dr Danny Wong Olher key appolntments Dr Tolani 05unsonya Direclor ot Exominalions (from Ocl 20251 Dr Prosenjil Girl Depuly Director of Examinations Dr Drovendranoth Reeloo Chief Exominer. MFOM Parl l and Doccmed up lo May 2025 Dr Helena Nixon Deputy Chief Exominer MFOM Part l ond Doccmed up to June 2025 Dr Monju Menon Deputy Chief Examiner MFOM Part l ond Doccmed up to June 2025 Dr Satish Raja Deputy Chief Examiner, MFOM Parl l and Doccmed from Sept 2025 Dr Louise Holden Chief Examiner, MFOM Part 2 up to June 2025 Dr Hanaa Sayed Chief Examiner MFO Parl 2 from June 2025 Or Isam Rustom Deputy Chief Exominer. MFOM Port 2 from Sept 2025 Dr Aril Moothodelh Deputy Chief Exominer, MFOM Parl 2 from Sepl 2025 Wg Cdr Philip Lucos Chief Exominer, DAvMed Wg Cdr Joseph 8rilton Deputy Chief Examiner, DAvMed Dr Henry Lupo Deputy Chief Examiner. DAvMed Dr Danny Wong Chief Examiner, HAVS Dr Isam Ru51om Depuly Chief Examiner, HAVS Ms Anno Porter Chief Exominer. DipOHPrac Ms Beverly Jones Depuly Chief Examiner, DipOHPrac from June 2025 Ms Soroh Davies Deputy Chief Examiner, DipOHPrac from June 2025 Membershlp 2024 2025 Fellow5 215 Honorory Fellows 110 Members 353 341 Associotes 92 83 Speciolly Trainees 66 72 Affiliating Diplomale5 360 403 Life Member5 80 80 Retired Members 45 65 Revalidating Subscriber5 Afliliale 38 40 studenllloundation yeor doclor 43 Total 1,406 1.444 REFERENCE AND ADMINISTRATIVE INFORMATION The FOM'S address.. I, Sl Andrews Place London NWI 4LB www.lom.ac.uk Chority Commission Number.. Scoltish Chority Number.. Registered Company Number.. 1139516 SC040060 07461063 Bankers.. Lloyds Bonk plc Langham Place branch PO Box 10(K) BXI ILT Solicitors.. Hempsons Third Floor 3 Dorset Rise London EC4Y 8EN Auditors: Griffin Stone M05crop & Co 21-27 Lamb's Conduit Slreel Holborn London WCIN3GS The Board ol Tiustee5. who are olso the directors of Ihe charitable company, officers and key oppointments, are lisled on pages 4 ond 5. The FOM Board ol Trustees presenls ils annual report for the yeor ended 31 December 2025 under the Chorilies Act 201 l ond Ihe Chorilies Accounts Iscotlondl Regulolions 2006. togelher wilh Ihe oudited accounts for the year. and confirm5 Ihot these comply with current statutory requirements, the requirements of the chority's governing document and the provisions ol the Slatemenl ol Recommended Practice ISORPI 'Accounting ond Reporting by Chorities,. The report is also a Directois, Report os required by Section 415 01 the Companies Act 2006. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The FOM 15 governed by ils Articles ol Association dating from December 2010 and last amended in Oclober 2017. The FOM'S constitution 15 set oul in its Articles of A550cialion. Recrultmenl and Iraining of Truslees Under the Articles ol Associolion, elecled members, lay member5 ond co-optees normally serve on the Board ol Trustees unlil the second, third or fourth Annual General Meeting followng the one ot which their election is onnounced. Elected members may not seNe lor more thon two consecutive elected temis totolling six years, oller which Ihey become ineligible lor re-eleclion unlil o period ol one year h05 elapsed. Trustees are inducted into the workings of the FOM through induction meeting5 ond the issuing ol information, which includes relevonl material from Ihe Charity Commission, Office ol the Scottish Chorily Regulator, Componies House. as well as documenlalion on the FOM'S constilulion. code ol conduct, declarations 01 interest, annual risk regislerreview and strategic planning, 5toff struclure ond key functions. All trustees are provided with a role descriplion. Mentoring support is provided by more experienced members ol the Boord ol Trustees. Organlsational management Trustees ore olso directors ol the incorporated chorily. The Boord ol Trustees is legally responsible for the overall manogemenl and control of the FOM ond meets quarterly. The President, Academic Dean, Registrar. Treo5urer and LJP lo three other Trustee5 ore elected by the membership. There ore Iwo Lay Trustee5, representing employers and employees, ond the Board may co-opt up to three Trustees. The Board moy establish committees or working groups as it sees fit to contribute to the delivery of the strategic oims ond objectives of the FOM. The Council is a key proles5ionol advisory commillee and meets quarterly lo considei professional molters reSafed lo the specialty ol occupolional medicine and lo make recommendations to the Boord. Rlsk management In July 2025. the Board ol Trustees carried out a review of the Foculty'5 51renglhs. weaknesses, opportunities orTrd threats ISWOTI and reflected on FOM'S operoling environment including political, economic. social. lechnologicol, legal and environmental foctor5 IPESTLEI. This informed a review ol the FOM'5 Risk Register and an of update ol mitigation measure5. Conlrols Ihal are used by the charity lor risk idenlilication and management include.. Regular monitoring of key risk5 by the President, Deputy Presidents (Regislror and Academic Dean) and the Chief Executive Oflicei, wilh regular online meelings, and escolation to all trustees and external professional advi5er5 as required.. Consulting and engaging with Medical Royal Colleges and Faculties, regulatory bodie5 and other key Stakeholders, to share learning and informolion about emerging trends.. Frequent communication between and amongst Irustee5 and FOM senior staff to identify risks eorly, pul miligolion measures in place, and monitor Iheir ellecliveness., Periodic review and updating of FOM'5 Risk Register by the Board ol Truslees., Agendas and minuteslnotes for all FOM Board ond committee meetings. and regvlor review of the lerms of reference for all working groups ond committees: Budget 5elting, managemenl occounling and quorteTly performance reports lo Ihe Board., Established organisational structures and lines of reporting- Formal wrillen policies,. and Clear f1nancial protoco15, including oulhorisotion and approval levels. The Board identifies and mitigates against risks. bul it is recogni5ed Ihat Systems can only provide reasonable bul not absolute assurance. Publlc beneflt FOM is a charity and exists lor public benefit. Through its work, FOM aims to ensure Ihat those providing occupational health services are suitably qualified and that employers. workers, government and the public in general can identify safe. effective and good quality occupolionol health services through the SEQOHS occredilalion scheme. The following work is al the heorl of the societal benefil provided by FOM.. FOM 5els, upholds and updcJtes prolessionol standards in occupolionol medicine and occupotionol health. FOM supports and asse55es doctors seeking specially registration ond also provides a range ol qualilicalions for doctors and allied health prole55ionals. FOM is responsible lor providing oncj updating the postgraduate curriculvm for specialty Iraining in occupational medicine in the UK and works closely the General Medical Council IGMCI lo ensure approval for any curricular change5. FOM'S education and qualification progrommes ensure that stondords ore achieved throughout the profession, and Ihol Ihey are maintained through conlinuous professional development. FOM'S members commit to annual appraisa15 and undergo a rigorous process of revalidation through FOM ond olher designated bodies. FOM contributes advice lo mojor nolionol committee5 and working groups. FOM also works to increase copacily in occupational medicine and health, ond believes that access to good occupationol heollh should be available lo everyone in Ihe working age population. FOM sets. promotes and upholds standards for organisOtion5 providing occupational health service5 through the SEQOHS occreditation scheme. SEQOHS is widely recognised as the national standard for occupolional health services providin9 safe. effective and good quality service5. The Trustees have given due considerotion to the Charity Commission's published guidance on the Public Benefit requiremenl under the Chorities Act 2011. Fundralslng compllance FOM had no fundraising activities in 2025 requiring disclosure under Sl 62A ol Ihe Charilies Act 2011. Charltable objectlves The FOM'S objeclives. as sel out in its Articles of As50ClOtion, ore to.. l. Promote for the public benefit the odvoncemenl ol education and knowleége in the field of occupolionol medicine., 2. Act as on oulhorilative body for the purpose ol consultation in molters ol educational or public interest concerning occupotional medicine: 3. Develop and maintain lor the public benefit the good practice of occupational medicine with a view lo providing lor the protection ol people ol work by ensuring Ihe highest prolessionol standards of competence and ethical inlegrily. Key Achlevemenfs Health and Work Consensus Stalement easy access to up to dole guidance from Government, professional bodies, and work and heollh professionals on the impoct ol heolth conditions and treatment on their FOM ha5 co-ordinaled the update to Ihe 2019 Health Professionals Health and Work Consen5vs Statement co-badged by the Academy of Medical Royal Colleges IAOMRCI, the Royal College ol Nursing ond the Allied Health Prolessionols Federation. work. ond on adjustments to ossisl those with disabilities. 4. Derive most value from the 'Fil Note" in The 51otement was discussed wilh Minislers on the 141hJanuary 2025 ond was formally launched by AOMRC on the 201hJanuary 2025. primary care. h05pilo15 and in the community. through training lor heolth professionals, and ulilising updoled easy to use guidance. 5. Recognise their own role lo support healthy and safe working environments, looking after their health and wellbeing and promoting the health and wellbeing ol their colleague5 within the orgonisalions in which they work. The Health and Work Consensus Slatem&nt includes live actions, which NHS Englond will work with health professionols to deliver. These ore to enable every heolthcare professional to.. own Occupallonol Health 2025, Brighton l. Ask the work question-whal do you do for work. how ore you managing in work, ond what may help you gel back to work The Focully's annual conference, Leading OH into the Future, organised and delivered in portnership with the Society of Occupolional Medicine. look ploce in Brighton on the 171h ond 18th June. Understond through training the importance of work os a health oulcome. how health may be promoted through good work, and where to signpost their potienls who need further supporl. With unique workploce visit opportunities, a packed educationol programme, lun networking opportunities, a buddy scheme for newcomers and even on early morning seo swim, the 2025 Annuol Scientific Meeting proved hugely popular. 3. Be oble to odvise their polienls through Ethics Commlttee Occupational HealtL?,025 .7th- During 2025 the terms of reference for Ihe Faculty's Ethics Commillee were updaled, providing new opportunities for individuals to opply for positions and engoge in its work. Vacancies lor joining Ihe Elhics Committee were advertised in June ond allracted much interest. Having hod Iwice os many applications as voconcies lor the medical and nursing members on the Ethics Committee, the FOM Board appointed a balanced teom wlh complementary ski115 and experience and hove appointed Hilary Winch 05 Chair. Hilory is well known to us in FOM. hoving been parl of the 2023 SEQOHS stondords review steering group, and 0150 05 Chair ol the NHS Heolth al Work Network. FOM President Dr Robin Cordell Presents Dr Alice Rutter with the 2024 Peter Taylor oword. London Centre for Work and Health 2025 FOM was proud to promote a series of free, monthlywebinors Ihroughout 2025. LCWH is a cross-institutionol partnership involving clinicol ond ocademic researcher5 from The Committee promptly started work on updating the guidonce. A full drall was circuloted towards the end of 2025 ond Guy's ond Sl Thomas, NHS Foundation Tru51. Imperiol College London, King's College London, Queen Mary Iuniversity ol London), University College London, University ol Southampton, Allinity Health al Work ond other external partners. Sessions included Second victim phenomenon, work-relaled slress diagnosis, and silicosis in artificial stone workers. online publicolion, free lo all, is expected in the fir51 half of 2026. FOM-RSM Ethlcs conference A joinl in person meeting with the Royal Society ol Medicine IRSMI Occupational Medicine section on Ethics was held al the RSM in London on 17th November 2025 FOM Awards and AGM Leading experts in occupational health, law, and policy provided o day ol insightful discussion. practical learning, and peer engagement. On 18th September 2025 FOM welcomed new Members and Fellows, and their guest5 to o celebrotion and lunch to recognise their achievements. Awards were also made for academic excellence al the 2025 Awards Doy which wos held al the Royal Society ol Medicine. Following the Awards Event, FOM held its AGM. 11 FOM-FPH-SOM Worklng Group rbe Bts>ai SticieLyof M￿l￿14e The FOM is delighted to announce thal. in portnership with the Faculty of Public Health und SOM. a new Iriportile working group was e51oblished lo.. Ethics for the evolving occupational health landscape Shapingstandards in a transforming era Share. odvise and comment on notional ond local work and heollh policy ond initialives.. Monday 17 Ntsvemb 8..45amto5.Tr)pm GMT ' In-persen fom Facilitale education for member5 and others in work ond health such as through webinors and occasionol conlerence5', ond The conference, entilled Ethics for the Evolving Occupotional Health Landscape-. Shaping Standords in Transforming Era explored the elhical impact ol emerging technoSogy, developments in employmenl law. and modem practice in occupolional health. Advocate Ihe value of occupational medicine within public health troining courses, and vice versa. This new group will meel online, up to four limes a year. Promotlng FOM and SEQOHS FOM and SEQOHS exhibited al both Ihe Health and Wellbeing ol Work event in Morch at the NEC, and the NHS Health ot Work Network Conference in September. Footfoll at our stands was very high for both events and ohead of the Seplember event we were pleased to provide an update on the operalional SEQOHS review that look place throughout 2025. L-R (top rowl Dr Chandrakanl Ichandrol Mulalik, Professor Gillian Leng CBE, President, Royal Society of Medicine, Ibotlom rowl Dr Shairono Naleem, and Mark London ol Weightmans LLP. 12 Work will start in 2026 to implement the recommendolions. ensuring that providers receive odvonce notice of ony changes and ore provided with appropriate Support and advice os Ihey move toword5 the new ways of working. f•m HEALTHY WORKING LIVES FOR ALL FOM Webslle and Dalabase During 2025 0 mojor project to design a new website for FOM ond lo also replace the database system used by FOM began. A lendering process wa5 pul in place ond Lightmedio oppoinled the developers. This will provide an opportunity to overhaul and modernise content, and ensure L-R: Merv Young. Head ol Assessment & Quality, Paul Sales, Examinations Manager were as SEQOHS Operatlonal Revlew it is easier lo navigate and locole information. 11 is also necessary to replace FOM'S ageing dalobase with a dynomic system linked to the new website. A project feam is working on this major development for FOM and il is expected to be implemenled in 2026. Building on the review ol the 5EQOHS stondords, led by Dr Robin Cordell in 2022123. project commenced lo review and modemise SEQOHS operolions. Aller preliminory discLJssions wilh key slokeholders, such as the HSE, dola from multiple sources spanning live years was analysed, including the oulpul from an online survey of providers. Medlcal Councll on Alcohol (MCA) Symposlum Evidence-bosed recommendation5 for The onnuol MCA symposium is o key event lor heolth professionals working to reduce alcohol-relaled health harms and look place in-per50n on 191h Novemberat the Royal College of Physicians (Londonl. FOM was pleosed lo sponsor this event in accordance wilh it5 charitable and public benefit purpose5 related lo work and heollh. Speakers included FOM Fellow Dr David Fox. improvement As5e550r5 added their experiences to this work. were drafted. SEQOHS The recommendations focus on.. Speeding up opplication-to- accreditation tLJrnaround lime Assessing only lo SEQOHS standards- and not beyond these Supporling provider5 lo mointain accreditation Ihrough audit and tailored odvice 13 FOM Guldance on Alcohol and this 45 to build upon the work FOM olready undertakes in developing and delivering qualifications and setting slondards lor the benefit of the whole sector. We ore Substance Use In the Worklng Envlronment FOM is pleosed lo ieporl that a review ol this imporlonl guidance was undertaken, led by Prof Poul Lion, who worked in partnership with o group of experts to update the guidance. When complete, the updaled guidance will be published on the Focully's website. It is onlicipoled Ihot this will be in Spring 2026. Mony thanks to all involved in this excellent projecl. conlinuing engogemenl 51okeholders and have received a great deol ol helpful and positive feedback. our wilh We are also holding addilionol Board meetings to steer this work. and regulor updates on our progress will follow in newslellers and on our website. Whilst this 15 being supported as parl ol our wider charitable aims lo support the work-ond- heallh sector, no changes will be made within the Foculty or lor FOM members until detailed informolion is available and shared. Keep Brltaln Worklng Revlew Throughout 2025, FOM continued to engage wilh senior figures in Governmenl and olficiols, logelher with colleagues Ihot include those in the Council for Work and ond o vole con be taken. Members may decide ot thot future lime, m05t likely lole 2026 or eorly 2027, to join with the College while mainloining the Focvlly's own identity, or member5 moy decide lo Femoin separate. Health. the Society of Occupational Medicine ond the Nolional School ol Occupational Health. We continue to advocate for access to quolity assured work and health professionol odvice lor all employees nolionolly. the self-employed and those returning lo work ofter o period out of work due to ill-health. Having published the Discovery phose in Morch 2025, the Keep rilain Working review was published on 5th November 2025. Work is expected to continue on this important development lor the sector into 2026 ond beyond. Regulor update5 on the piogre5s ol the new College will be provided and no money paid by doctors lor FOM membership or services will be used lor this purpose. In late 2025. following consullalion, the FOM Board agreed thol the Diploma in Occupational Heolth Praclice IDipOHPracl, available lor nurses, physiotherapi51s and occupalionol theropi51s wll transfer lo a different faculty in the College in 2026. It was also agreed that the 2025 income generated by the DipOHPrac qualification will be transferred in occordance with public benefil to support the creation ol the College. Beyond that, Ihe College will be sell-funding. College of Work and Health On 241h SeplembeT we contacted FOM members ond Ihen published more widely the work the Boord is undertaking towards estoblishing a 51Stei charity.. the College ol Work ond Heollh. One of the key drivers for 14 Looklng forward We wlll work wllh partners and strengthen our Impacl by... In 2026 the Foculfy will continue to work wilh a wide longe of stakeholders and partners to raise the profile ol work-and-health ond foster beller understanding ol the impocl of good work on good health. We Thqll work collaborolively to roise sfandords. and promole competence and multi-disciplinary working. Being o trusted and independent advisor on occvpotionol health issues. Setting and moinloining standord5 in occupational health quolificolions, competence and service delivery Ihal prolècl the UK workforce. Exlending the number and ronge of qualilicalions ond memberships, and e51ablish an international footprint. There are major projecls lo be delivered in the coming year. including delivering a new website and database, and implementing the findings of Ihe SEQOHS operational review. We wlll bulld our capaclty by... Upgrading FOM'5 digitol inlraslructure to include a new websile and resources. The Faculty continues to grow in terms ol its reach and influence, and work will continue with iegulalors, profe55ionol bodies to ensure compelence, clorily, and multidisciplinary conneclion in Ihe sector. We will also continue to Governmenl ond Recruiting and reloining sufficient volunleer5 ond slalf to support growth. Reviewing the governance ol, and engagement with, committees. participate in o number of advisory and expert working groups. We will consolldate financlal reslllence and encourage knowledge sharlng by... Our 5trotegic priorities lor Ihe next three years ore oullined as follows. Optimising investments and updating FOM'5 susloinable reserves policy. Reviewng and enhancing member benefits. Introducing new opproaches lo sharing ideas and learning. 15 FINANCE REVIEW Performance during the year Trustees are pleased lo report that FOM ochieved o surplus in 2025 of £193,58512024'. £238,011). The Faculty has achieved a surplus eoch year since 2018. which hos brought financial stability and offers the opportunity to invest in developing FOM, and allows Ihe Faculty lo continue lo oller free events lor Resident ond Portfolio Pathwoy doctors, ond lo nol increase membership lees which have remained at the same level os they were in 2017. The Facvlly is unique among all other medical Royal Colleges ond Focvlties in suppoiting ils member5 in this way. During 2025 work began on a new website for the Faculty and also updating the ePorlfolio. We anlicipate work lo be completed on both ol these projects in 2026. A decision wos olso token lo widen the charity's influence in line wilh ils socielol objectives and to donote income generoled by the Diploma in Occupotional Health Proctice IDipOHProcl quolilicolion in 2025 to o new sisler charily - the College ol Work and Health. This amount represents only 3% of the Focully's income in 2025 and these monies were poid to the Faculty by nurse5. physiotheropists ond occupalionol therapist5 and in some cases by their employers. 11 seemed fitting lo use those Ivnds lo form a chorily Ihal will provide ongoing support lo health professionals working in the sector who ore not doctors, ond to do so lor public benefit. The 2025 surplus of £193,585 refers lo Ihe surplus achieved oller the donation has been taken into consideration. Income received in 2025 was £1,656,147 up 6% on the previou5 year12024-. £1,559,797). Expenditure increased by I 1% as o result of inflation ond Ihe increase in employer's national insurance contributions. Income from membership subscriptions in 2025 remained steady, while income from quolificotions increased by 25% as more examinations were taken by candidates. During 2025, we look sleps to increase our copocity lo deliver examinations and to address waiting lists, ollowing vs to offer access to examinations lor more candidates. Income Irorn SEQOHS increased by only 2%. During 2025 a review of operational processes was undertaken lo inform recommendotions which we will 51art lo implement in 2026. Income diversilicalion in 2025 wa5 23% mernbership125% in 20241, 30% qualifications125% in 20241, 34% SEQOHS136% in 20241, 8% revolidation18% in 20241 and 5% other1610 in 20241. The Board wll review income diversilicolion ogoin in 2026. In 2025 FOM begon o project lo inve51 in a new website and new membership database. and il is anticipaled that this will be delivered in 2026. 16 Reserves At 31 st December 2025, FOM had lolol funds 01 £3,310.36412024.. £3,116,780). 01 this total, £75.432 are reslricled funds ond not ovoiloble lor general purposes. Due to the investment in the long le05ehold building, al this time the chority has free reserves of £1,886,75612024'. £1,715,569). Free ieserves are unre5fricled funds. excluding Ih05e elements that con only be reali5ed by di5P05ing ol tangible or intangible fixed assets or money sel aside for future activities. The FOM currently lease5 office space ol I St Andrews Place. London. wilhin Ihe eslole of Ihe Roya5 College of Physician5 (London). The premi5e5 owned by the FOM in Greenwich are free from any mortgage ond the Faculty has re-paid oll bank loans taken out against this property. The Board ol Trustees will obtoin a formal, written report prepared by a qualified chorlered surveyoi in early 2026 with a view lo selling the properly in GreenThqch. Penslon AII FOM stofl ore automatically enrolled on a pension scheme, in line wilh legi51otion regording workploce pensions. The scheme used is The People'5 Pension, which is o defined contribution scheme. Thus. no pension liobililies will arise from its continuing implemenlolion. Budget 2026 In December 2025, the Boord of Trustees approved 0 2026 budgel which Sets an income target of £1,481,975 and a budgeted expenditure ol £1,478.546. The 2026 budget was dralled using a zer¢> based budgeting opprooch thot requires all expenses to be fully ju51ified for eoch new budget period. and functionswithin FOM areonalysed based on importance ond cost. The 2026 budgeted surplus is £2.748 based on no increose lo membership subscriplions since 2017. Golng Concern In reviewng FOM os a going concern, the Trustees have considered operations. income, expendilvre and fulure cash flow of the charity, including areas where there moy be uncertainty or delays in future receipls of income, and have considered potential mitigotions. 8udgels and a cash How forecost have been prepared through lo June 2027, and sensitivity onolysis performed on key 05sumption5. The financial forecastin9 indicate5 that the cash reserves ore odequole to meet the chorily's obligations as they fall due. Trustees remain of the opinion thot there ore no material uncerlointies. that the going concern assumplion remain5 oppropriale, and Ihol the financiol slalements can continue to be prepared on this ba515. 17 AWARDS, PRIZES and FELLOWSHIPS Awards ond prizes are usuolly presented in the year following achievement. Peler Taylor Award The Peter Taylor Aword is given lo the candidalelsl who have underloken re5eorch which, in Ihe opinion ol on acodemic panel, is oulstanding. Dr Clare Fernandes and Dr John Colvin Wllllam Taylor Award In 1994 the Faculty established a memoriol fund in memory of the late Professor William Taylor, one of the FOM'S most dislinguished Fellows. The fund is used to provide an examinolion prize to be presented each year to the condidole who, at Ihe first altempl, passes oll sections ol the Port 2 MFOM/AFOM examination and attoins the highest overall mark. Dr Alice Rulter Diploma in Occupational Medlclne (Doccmed) Aword Dr Thomas Rowland Dlploma In Occupallonal Health Practice (DlpOHPrac) Award Uolnl wlnners) Melanie Crookes David Olukayode Fellows (FFOM) Dr Clare Fernandes Dr Susanna Gillibrand Dr Mohammed Aril Moolhadeth Members (MFOM) Dr Alexander Bocon Dr Mimi Bhatlacharyya Major Philippo Collegori Dr Rachael Clork Dr Alexondra Colby Dr Gary Ferguson Dr Stephen Freyne Dr Paul Harris Dr Mogdolena Janus Dr Mark Leeming Dr Donna Mccorten Dr Victoria Nooui Dr Rachel Phillip5 Dr Anneka Varma Dr Alison We51well STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are olso directors ol the Faculty ol Occupolional Medicine for the purposes of company lawl are responsible for preparing the Trustees, Report and the linoncial stolemenls in occordance with opplicable law and United Kingdom Accounting Slandord5 Iuniled Kingdom Generally Accepled Accounling Practice). Company law requires Trustees to prepare linanciol stolements lor each financial year which give a true and lair view of Ihe slate of the allairs ol the choritable company and of the incoming resources and opplicotion of resources, including the income and expendilure, of Ihe charitable company lor Ihal period. In preparing these linanciol statements, the Truslees are required lo.. select suitable accounting policies and then opply them consislenlly.. observe the methods and principles in the Charilie5 Stolement of Recommended Proclice ISORPI., make judgements and e51imales thot are reasonable and prudent., state whether opplicable UK Accounting Standards hove been followed, subject lo ony material departure5 disc105ed ond explained in the finoncial slatements., and prepare the financial slalemenls on the going concern basis unless It is inoppropriale to presume that the charitable compony will continue in business. The Trustees are responsible for keeping proper accounting records that are sullicienl to show and exploin the charitable compony's tronsaclions and disclose wilh reasonable accurocy ol any time the financial position ol Ihe charitable company and enoble them lo ensure thol Ihe Inanciol slalements comply with Ihe Companies Act 2006, Ihe Charities and Trustee Investment 1Scollondl Act 2005 and regulation5 6 ond 8 of the Charities Accounts (Scotlandl. They are also responsible lor safeguarding the assets of Ihe charity and hence for taking reasonable steps for Ihe prevention and detection of fraud ond other irregularities. In so far as the Trustees are aware.. there is no relevanl audit inlormolion ol which Ihe choritoble company's auditor 15 unaware.. and 19 the Trustees have taken all steps Ihol they ought lo have taken lo make themselves aware ol any relevant audit information and to establish Ihat the ouditor is oware ol Ihal information. The Truslees are responsible lor the maintenonce and integrity of the corporate ond linonciol information included on the charitable company's website. Legislotion in the United Kingdom governing the preparation and disseminalion ol finoncial slotemenls may diller from legislation in other jurisdictions. AUDITORS Griffin Stone Moscrop & Co h05 indicoted its willingness lo be appointed as statutory auditor. This report has been prepared taking advantage of the exemptions available under the provisions ol the Companies Act 2006 applicable to smoll companies. APPROVED by the Truslees and directors on 16th June 2026 and signed on Iheir beholl by: Dr Robin Cordell MBA FRCP FFOM 20 Independent Auditor's Report to the Members and Trustees ofthe Faculty of Occupational Medicine Oplnlon We have oudiled the linanciol statements of Ihe Foculty ol Occupotional Medicine for the year ended 31 December 2025 which comprise Ihe Stolement of Finonciol Aclivitie5, Slotemenl ol Finoncial Position, Cash Flow Slalement and notes lo the linonciol slalement5, including significant occounting policies. The financial reporting fromework Ihot ho5 been opplied in their preporation is applicable low and United Kingdom Accounting Stondords. including Financiol Reporting Stondord 102 The Financial Reporting Standard applicable in the UK ond Republic of Irelond (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial slatemenls.. give a true and lair view of the state of the charitable compony's affoir$ 0$ 0131 December 2025 and ol its incoming resources and applicolion ol resources, including its income and expenditure, lor the year then ended.. hove been properly prepared in accordonce with United Kingdom Generolly Accepted Accounting Proctice.. ond have been prepared in accordance wqth the requirements ol the Componies Act 2006 and the Charities and Trustee Investment Iscotlandl Act 2005 ond Regvlotions 6 and 8 01 the Charities Accounts (Scollandl Regulations 2006. Basis lor opinion We conducted our audit in accordance with Inlernolional Slondards on Auditing IUKI IISAS IUKII and opplicable low. Our responsibilities under those standards are further described in the Auditor's responsibilities lor the audit ol the finoncial stolemenls seclion of our report. We are independent of the charitable company in accordance with the ethical requirements Ihol are relevant lo our audit of the financiol statements in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions Telaling to going concern In oudiling the financial statements, we have concluded that the trustee's use ol the going concern basis ol accounting in the preparation of the financial statements is oppropriale. B05ed on the work we hove performed, we hove not identified ony moterial uncertoinlies relating to events Of conditions thot, individvolly or collectively, moy c051 significanl doubt on the charitable company's ability to continue as a going concern lor a period of ol least Iwelve monlhs from when the financial 51atements ore authorised lor issue. Our responsibilities and the responsibilities of the truslees with respect to going concern are described in the relevant sections ol this report. 21 Olhei Inlormallon The Iruslees are responsible lor the other irnlormolion conlained within the annual report. The other informotion comprises the information included in Ihe annual report, other than the linanciol stolements and our auditor's report thereon. Our opinion on the financial statements does nol cover Ihe other information and, except to the extent olherwise explicitly sloled in our reporl. we do not express ony form of assurance conclusion Ihereon. Our responsibility Is to read the other information and, in doing so, consider whether the olher information is materially inconsistent with the financial statements or our knowledge obloined in the audit or otherwise appears lo be materially misstated. 11 we identify such molerial incon5islencies or apparent material misslatement5, we are required to determine whether this gives rise lo a material misstatement in the financial 51otements themselves. If. based on the work we have performed, we conclude thot there is a material mis5talemenl ol this other inlormalion. we are required lo report that fact. We have nothing to report in this regord. Opinions on olher matters prescrlbed by the Componles Aet 2006 In our opinion based on the work undertoken in the course of our audit the information given in Ihe trustees, report. which includes the direclor5' report and the strategic report prepared lor the purposes of company law, lor the financial year for which the financial statements ore prepored is con5151ent with the financial statements,. and the strategic report and the directors, reporl included within the trustees, report have been prepared in accordance with opplicable legal requirements. Malters on whlch we ore required to report by exceptlon In light ol Ihe knowledge and understonding of Ihe charitable company and their environment obtained in the course ol the audit, we have not idenlified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following mallers in relation to which the Companies Act 2006 and the Charitie5 Accounts (Scollandl Regulations 2(K16 requires us to report to you if, in our opinion.. adequate and proper accounting records hove not been kept,. or the linonciol statements are not in ogreemenl with the occounling records and returns., or certoin disclosures ol trustees, remuneration specified by law are not mode.. gr we have not received all the information and explanolions we require for our audit. Responsibilities of Trustees As explained more lully in Ihe trvslees, responsibilities statement, the trustees Iwho are also the director5 of the charitable company lor the purposes of company lawl are responsible for Ihe preporotion of the financial statements and for being satisfied that Ihey give a true and fair view, ond for such intemal control os Ihe Iruslee5 determine is necessary lo enable Ihe preparation ol financial slolement5 Ihal are free from materiol misstatement. whether due lo fraud or error. In preporing the financial 51alemenls, the trustees are responsible lor assessing the charilable company's ability lo continue os a going concern, disclosing, os applicable, mallers related lo going concern and using the going concern bosis ol accounting unless the trustees either intend to liquidate the choriloble compony or to cease operotion5, or hove no realistic allernalive but lo do so. Audilor's responslbllltles lor the audll ol the financlal statements Our objectives are to obtain reasonoble assurance obout whether the financial statements os o whole are free from material misstatement, whether due to fiaud or error. ond lo issue an auditors. report that includes our opinion. Reosonoble os5urance is a high level ol assurance, bul 15 nol a guarantee thal an oudil conducled in occordance with ISAS IUKI will alwoys detect a moterial misstatemenl when it exists. Misstotemenls can arise from Iroud or error and are considered material il, individually or in the oggiegale, they could reosonably be expected to influence the economic decisions of u5eis token on the bosis of these financial statements. Irregularities, including fraud, ore inslonces ol non-compliance wth laws and regulolions. We design procedures in line with our respon5ibilitie5, oullined above. to delecl materiol misslalemenls in respect ol irreguloritie5, including troud. The extenl to which our procedures are capable of delecling irregulorities, including fraud is detailed below.. corrying out substonlive checking lo supporting documents on a sample basis of individual Iransoclions within income ond expenditure to give comfort that on a sample ba51S the SOFA does not conloin any irregular items., carrying oul walk-lhrough lesling lo verily that the charity's accounting systems ond conlrols are being implemented as designed,. and verifying thot moleriol bolonces within the Balance Sheet are supported by Ihird porty evidence lo cor)firm the existence ond valuation ol these balances ol the balance Sheet dote. As parl ol an oudit in accordance with ISAS IUKI, we exercise professional judgemenl and moinloin professional scepticism throughout Ihe oudit. We olso.. Identify and assess the risks of material misslafemenl of the linanciol stalements, whether due lo fraud or error, design and perform audit procedures responsive lo those risks, ond obtain audit evidence that is sullicienl and appropriate to provide a basis for our opinion. The risk ol not detecting a material misstalemenl resulting from fraud 15 higher thon lor one resulting from error. as fraud may involve collusion, forgery, intentional omissions, misrepresenlolions, or the override of inlernol control. Obtain on underslonding of internal control relevant lo the audit in order lo design oudil procedures Ihal are appropriale in the circumstances, bul not for Ihe purpose ol expressing an opinion ol the effectiveness of the chariloble company's internal conlrol. Evoluate the appropriateness ol occounting policies used and the reasonableness ol occounling estimoles and reloted disclosures made by the Trustee5. Conclude on the appropriateness ol the Trustees, use ol the going concern basis of accounting ond, bosed on the audit evidence obtoined, whether a materiol uncertainly exists reloted to events or conditions that moy cost significant doubt on the charitoble company's ability to continue as a going concern. If we conclude that a material uncertoinly exists, we are required lo draw attention in our ouditors. report to the related disclosures in the financial statements or, if such disclosure5 are inadequale, lo modify our opinion. Our conclusions ore based on Ihe audit evidence obtained up to the dote of our audilor5' report. However, lulvre events or conditions moy cause Ihe charitable company to ceose to continue as a going concern. Evaluole the overoll presentotion. structure and content of the linoncial statemenls, including the disclosures, and whether the financial slalemenls represent the underfying Ironsoclions and events in a monnerthat achieves lair presentation. We communicate wilh those chorged with governonce regarding, among other mallers, the plonned scope and liming of the audit and signiliconf oudit findings, including any 5ignilicont deficiencies in internal control thal we identify during our oudit. We communicote those charged with governonce regarding. among other mallers. the planned scope ond timing ol the audit and signilicont audit findings, including any significant deficiencies in internal control that we identify during our audit. 8ecau5e ol the inherent lirnilations of an audit, there is o risk Ihal we will nol delect all irregularities, including those leading lo a material mi5Stalement in the financial 51alement5 or non-compliance th regulolion. This risk increases the more thot compliance with a law or regulation 15 removed from the events ond transactions reflecled in the financial statements, os we will be le55 likely lo become aware ol instance5 of non-compliance. The risk is a150 greater regarding irregularilies occurring due lo Iroud rather than error, 05 fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of responsibilities al.. hlt www.lrc.or .uk oudilors oudit-ossur oudilor-s-res our available on the FRC'S web511e nce onsibilities-lor-Ihe-audit-ol-Ihe- descri lion-ol-Ihe-auditorf.E2T.80%995-res onsibilities-for This description forms part ol our auditor'5 report. Use ol ovr report This report is made solely lo the charitoble company's members. as a body. in accordance wilh Chopter 3 of Port 16 01 the Companies Acl 2006. Our oudil work ha5 been underlaken so Ihal we might slate to the chorilable company's members those matters we are required to stale to them in an audilor'5 report ond for no other purpose. To the fullest exlenl permilted by law, we do not accept or 05svme responsibility lo anyone other thon the charitable compony ond the charitable 24 company's members os a body. lor our audit work. lor Ihis report. or lor the opinions we hove formed. Robert 5milh (senior slatulory audilorl lor and on behalf ol Griffin Stone Moscrop & Co Chartered Accountants stotutory Auditors 21-27 Lamb's Conduit street London WCIN 3GS Date.. 13A J 25 STATEMENT OF FINANCIAL ACTIVITIES (Incorporallng the Income & Expendlture Account) Year ended 31 December 2025 General Funds Restrleled Funds Tolal 2025 Total 2024 Notes INCOME FROM Charitable uctivities Subscriptions Qualilicolions ond troining Publications SEQOHS MoHaWK Revolidotion Grants and contracts Conferences ond events 386.852 493.826 5,091 569,338 13,685 125.478 386,852 493,826 5,091 569.338 13.685 125.478 388.206 393,665 7,701 560,688 15.025 117,172 9,564 9.564 20,892 other a¢*ivilios Other income Interest on mortgoge Inve51ment income 182 182 148 52,131 52,131 56,301 Total 1,656,147 1,656.147 1,559,797 EXPENDITURE Charitable activilies 2,3,4 1,462,562 1,462.562 1.321,786 Nel Incomel(expendllvre) 193.585 193.585 238.011 Net movement In funds 193,585 193.585 238,011 Reconciliolion of funds Total funds broughl forward al l January 2025 12 3.041.348 75,432 3.116.780 2,878,769 Total fund5 carried forward al 31 December 2025 3.234.933 75.432 3,310.364 3,116.780 All income ha5 been generated from continuing operations. All recognised gains are included in the Statement of Financiol Activities. 26 STATEMENT OF FINANCIAL POSITION 31 December 2025 2025 2024 Notes FIXED ASSETS Tangible assets Intangible ossets 1,294,989 53,187 1,323,279 2,500 1,348.176 1,325.279 CURRENT ASSETS Deblors C05h on dep051t Cash at bank and in hond 135,291 378,190 122,227 874,218 2,077.508 1,262,716 2.590,988 2.259.161 CREDITORS Amounts falling due within one year 10 1628,8011 1468,1601 (628,801) 1468,1601 NEf CURRENT ASSETS 1.962.188 1,791.001 NET ASSETS 3,310.364 3,116,780 Unreslrlcled funds General funds 3,234,933 3,041.348 3,234.933 3,041,348 Restrlcted lunds 75,432 75,432 TOTAL FUNDS 3,370.364 3,116,780 The financial stalemenls, which were approved and authorised for issue by the Boord ol Trustees and directors of the company on 161h June 2026, were signed below on ils behalf by.. President- Dr Robin Cordell Treasurer Mrs Yue Zhou Company Registrolion No.. 07461063 27 2025 2024 STATEMENT OF CASH FLOWS Year ended 31 December 2025 Reconclllatlon of nel Income / (expenditure) to net cash flow from operating actlvllles Nel Income I (Expenditure) for the reporting period per SOFA Depreciation charges Dividends and inteiest from investment5 Ilncomelldecrease in debtors Incomelldecreasel in creditor5 193,585 34.766 152,1311 113,0641 160.645 238,011 33,350 156,3011 13,3261 193 Nel Cosh {u5ed In} operatlng octlvllles 323,801 211,927 Cosh Ilows from Investlng ac*lvltles: Dividends and interest from investments 52.131 56,301 Purchose of property, plant and equipment 16.4811 14.4331 Purchase ol intangible assels 150,6871 12,5001 Nel cash (used In) investing aclivltles (5.037) 49,368 Change in cash and cash equlvalents In the reportlng peiiod 318,763 261.295 Cash and cash equFvulenl$ ot the beginnlng of the reporting period 2.136,934 1,875,639 Cash and cash equivalents atthe end ol the reportlng perlod 2,455,697 2.136,934 2025 2024 Analysls of cash and cash equlvalents: Cash in hand Notice deposits (less thon 3 months) 2,077,￿8 378,190 1,262,716 874,218 Total cash and cash equivolent5 2.455.697 2.136.934 28 NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 I ACCOUNTING POLICIES Company Informallon The FOM is o Public Benefit Entily registered as charity and a company limiled by guarantee Company regislralion No.. 074610631. The address ol the registered oltice is I, St Andrews Place. London. NWI 4LB. The Chorily is registered in England and Wales Iregistered number 11395131 and in Scotland Iregistered number SC04QK)601. (a) Basls ol preparatlon of the accovnts The financial stalements have been prepored under the historicol c051 convention in occordonce wilh Ihe Financiol Reporting Standard applicable in Ihe UK ond Republic of Ireland IFRS1021, the Companies Act 2006 and the Statement ol Recommended Proctice applicable to chorities preparing their accounts in accordance with the Financiol Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. The tunclional currency ol Ihe Foundation 15 considered to be GBP because that is the currency ol the primary economic environment in which the FOM operates. (b) Going concern The Board ol Trustees has a reasonoble expectation thal the charity ha5 adequate resources to continue its activities lor the foreseeable future ond remain ol the opinion that there are no material uncerlainlies ond thot Ihe going concern assumplion remoins appropriate and that the financial statements continue to be prepared on thi5 b0515. Accordingly. they continue lo adopt Ihe going concern basis in preparing the financial statements a5 Outlined in the Statement of Truslees, Responsibilities. (c) Tanglble Flxed assets Individual tongible fixed ossels Costing £500 or more are capitalised al cost. Depreciation is chorged $0 os to write off the c051 of on asset over its expected useful life. Depreciation is calculoted on eoch cla55 of asset a5 follows.. Office equipment Fixlures & fittings Air-conditioning plont Leosehold Property 33.33% 5fraighl line 20.00% straight line 20.00% straight line 2.00% slraighl line (d) Intanglble Flxed ossets All individual intangible fixed assets are capilalised ol cost. 29 Amortisotion is chorged so os to write oll the cost of an asset over ils expected useful life. For IT projects. expected useful life is estimated lo be live yeors al which point support from the developer is wilhdrown and replocemenl IT solutions are required. Amorlisation is calculated on each class ol asset as follows.. IT projects.. 20.00% straight line (e) Income Income from subscription5 is occounted lor on an accruals basis. Any income relating lo fulure periods is included in deferred income. Income in respect of granls. oppeals and donations is recognised upon a receivable or received basis whichever is the eorlier. Income from exominotions is recogni5ed on the dole the examination takes ploce ond income received in advance is treoted os deferred income. Donated facilities are included al the value lo the Trustee5 where this can be quanlilied and a third party is bearing the cost. No omounts are included in the financial 5talements lor services donated by volunteers. {f) Operating leases Inslalmenls under operating leose agreemenls ore chorged lo Ihe Stalemenl of Financial Activities account in the year in which they are incurred. (g) Investments Investments are included at market value. Unrealised gains ond losses on investments orising in the year are included in the Statement of Financial Activities for the year in which they orise. (h) Cash held at bank ond In hand Cash held al bank and in hand include cosh held in the Focully's currenl bonk account, ils no notice savings bank account ond its petty cash. Flnancial in5tsuments Financial ossels held at amortised cost comprise cash held ol bank ond in hond, cash on deposit and trade debtors. Financial liabiSilies held ot omor115ed c05t comprise trade creditors. 30 u) Penslons Contiibution5 ore mode on beholl of certoin employees into a workplace defined contribution scheme colled The People's Pension managed by B&CE. Amounts are chorged lo the Slotement ol Financial Aclivilies as incurred. (k) Funds Unrestricted generol funds are funds which Ihe Trustees can use ol their discretion in accordonce with the objects ol the Focully. The Truslee5 have designated port ol this sum os a capital fund. equal lo the volue ol the inve51ment5 which are lo be used lo ensure the lulure ol the Faculty- Reslricled lund5 are funds which must be used for specific purp05e5 in occordance with the donors, wishes. Bas15 of allocation of costs Stall costs are allocated based on the omount of time individuals dedicale to carrying out specific functions ol the Faculty. All other costs are allocated on a specific basis. (m) Expendlture Aclivilies in furtherance ol the Faculty's objects include costs relating to exominolions, memberships ond education and training and include an appropriate proportion of supporl cosls. Support costs are those c051s incurred directly in support of expenditure on the objects of the charily and include projecl management. Support costs hove been allocated to choritable and fundraising activity on the basis of time spent by sloll in supporling Ihe operation. Governance cost5 ore those incurred in conneclion with enabling the charity to comply th externol regulotion, constilutional and statutory requiremenls and in providing support to the Trustees in Ihe dischorge of Iheir slatulory dulles. (n) Legal status The Faculty of Occupationol Medicine is o privole company limited by guaranlee. Every Regi51ront underlake5 to contribute such amounl as may be required Inol exceeding one poundl lo Ihe os5els of Ihe charify in the evenl ol its being wound up while helshe is a Registronl. or within one year ofter he cease5 lo be a Registrant, for payment of the debts and liobililies of the Foculty contracted before he15he ceases lo be a Registrant and of the cosls, chorge5 and expenses ol winding-up and for the adjustment of the rights ol the contributories among themselves. The Faculty's Articles of Association defines a Regi5tranl os.. Specialty Registrars, Associates. Members, Fellows, elected representatives of subscriber c105ses. loy Trustees, Trustee5 who represent the College IRoyal College ol Physicians) ond 31 co-opted Trustees. who ore members ol the Faculty lor the purposes ol the Companie5 Acts. (o) Key jvdgemenls ond assumpllons No judgements. apart from those involving estimations or assumptions, were made in the preparation of these financial slotemenls ond note5. ANALYSIS OF COSTS Dlrecl Costs Direct Salarles Support Cosls Total 2025 Tolal 2024 Qualificalions and training 87,809 204.456 129,119 421.385 328,089 Publication 3,240 3.240 Revalidalion, professional development and slandards 44,899 108.582 68,572 222.053 209,674 Administration of funds 2.207 1,394 3.601 3,498 Conferences, events and project5 13,244 22,196 14,017 49.456 47,016 Membership 65,743 51,624 32,602 149.969 154.623 Meetings 16.2CK) 16.200 8,819 MOHAWK 7.9(K) 2,207 1,394 11.501 11,398 College of Work ond Health 54,788 54,788 SEQOHS 135,451 242,055 152,864 530,369 557.841 429,273 633,327 399,962 1,462.562 1,321,048 Support costs of £399.96212024.' £367,2301 have been allocated across aclivilies. Support c051s hove been opportioned based on the staffing costs ol each oclivily in ordei lo rellecl the demands each aclivily makes on central support resources. 32 BREAKDOWN OF SUPPORT COSTS 2025 2024 Sloll 57,025 31,343 Communicolion 8,902 7,829 Printing. poslage ond stationery Premises 2,560 1,887 38,555 35,986 Repair5 and maintenance Advert15ing ond reotuitment Irrecoverable VAT 14.922 16,068 7.700 1,899 25.905 28,490 Accountancy lees Governonce costs 897 831 66,726 49,834 Depreciation other direct costs 34.769 33,350 142,001 159,713 399.962 367,230 GOVERNANCE COSTS 2025 2024 staff 51,257 35,810 Audit lees 7,800 7,000 Trustees. meetings 7,670 7,025 66,726 49.834 REMUNERATION OF TRUSTEES The Trustees did not receive remuneration or any benefit5 during the year lor their services12024.' nill. Eight Trustees were reimbursed for expenses incurred in relation lo Focully business omovnting 10 £10.557 12024.. 8 Trustees £8,531). These expenses included private mileage, railltube lore, accommodation. porking ond subsistence. 33 STAFF COSTS 2025 2024 Wages and solaries Sociol security costs Pension costs 624.816 521,902 81.191 58,955 35.601 30,583 741.608 611,440 The average head count (number of stofl employe(J during Ihe yearl was.. 13 Salary ranges are calculoled inclusive ol oll costs of employment, including employer's National Insurance and employer's pension contributions. In 2025 one member ol slalf was in the £120.00 I to £150,1J)O ronge for 501ary, national insurance and pen510n C05ts12024: 11. In 2025 one member ol stolf was in the £80,00110 £1 10,WO range for salary. nationol in5vronce and pension cost$12024'. 11. In 2025 one member ol slaff was in Ihe £70.00110 £80.000 range lor salary, national insurance and pension costs12024'. 11. The lotol of employee benefils including salaries received by the key manogemenl personnel ol the Faculty was £483.68212024- £456,164). Key monagemenl personnel comprise.. Chiet ExecLJlive Officer,- Heod of Assessmenl & Qualify.. Head ol Finance ond Membership.. Examinolions and Troining Manager,. Professional Standard5 Manager and SEQOHS Accreditotion Monoger. 34 TANGIBLE FIXED ASSETS Leasehold Property Office equipmenl Total Cosl Al l January 2025 Addilions 1.547.216 79.679 6.481 1.626,895 6,481 Al 31 December 2025 1.547,216 86.160 1.633.376 Depreclatlon Al l Jonuary 2025 1227,0861 176.5351 (303.621) Deprecialion in currenl year 130,9431 13,8231 (34,766) Al 31 December 2025 1258,0291 180.3581 (338,387) Net Book Value Al 31 December 2025 1.289.187 5,802 1,294,989 At 31 December 2024 1,320.131 3,147 1,323,279 INTANGIBLE FIXED ASSETS IT Project Total Cost Al l January 2025 Additions 2.5CK) 50.687 2.500 50,687 Al 31 December ￿25 53,187 53,187 Depreclation Al l Jonuary 2025 Depreciation in current year Al 31 December 2025 Net Book Value At 31 December 2025 53,187 53.187 Al 31 December 2024 2,500 2,500 35 DEBTORS 2025 2024 Accrued income Trade debtors 10,2(Kl 28.835 85,417 39,674 53,717 39,675 Prepoymenls 135,291 122.227 I O CREDITORS: amounts talllng due wlthln one year 2025 2024 Tr(Jde creditors Credit cords Accruals Deferred incorne Tax, 50cioI Security, ond pensions College of Work and Health ICWHI 43,092 3,015 35.906 444,406 47,594 54,788 19,312 2.315 20,726 394,310 31,497 Notell 628,801 468,160 DEFERRED INCOME Exominations Subscriptlon$ SEQOHS TOTAL 2025 Bolonce ol l January 2025 Amounts released during the year Amounts deferred in the year 19.110 103.817 271,382 394.310 1103,8171 101,040 1271.3821 302,146 (394,310) 444,406 41,220 Balance at 31 December 2025 41,220 101,040 302,146 444.406 36 12 FUNDS A$at l January 2025 Agat Outgolng 31 December Resources 2025 Incomlng resources a) Restrlcted funds Good Practice Gvldellnes Funds Rolls Royce Guidelines Fund 4,499 4.499 Academlc Acllvlties Funds Mobbs Trovelling Fellowship Fund Donald Hunter Lecture Fund Ernesline Henry Lecture Fund Exxonmobil Eleclive Fellowships Fund 4.166 11.069 3.087 4,166 11,069 3,087 1.695 4.181 1,695 4,181 Wilt Howe Fund Deportment ol Heallh le-LIHI e-learning HWM diploma gronl 44.736 2,OCKJ 44,736 2.(K)O 75,432 75,432 b) General funds 3,041.348 1,656,147 11,462,562) 3.234.933 Total funds 3,116,780 1.656,147 (1,462.562) 3.310.364 37 DESCRIPTION OF FUNDS Restrlcled Funds: Good Practlce Guldellnes Fvnds: Rolls Royce Gvldellnes Funds were provided originally lo cover the costs ol Faculty back pain guidance ond leaflets. As 5ulficienl guidonce was avoilable elsewhere, Ihe Focully negolioled on alternative use with the provider. Academlc Actlvltles Funds Donald Hunter Lecture provides funds for the costs incurred in connection with a biennial lecture given in his memory. Ernesline Henry Lecture endow5 0 lecture in memory of Mrs Ernesline Henry to be delivered ot least once every three years. Esso Research Fellowshlp Fund comprises a number ol annual donations, lo provide a research fellowship. Exxonmobll Elecllve Fellowship5 Fund funds elective5 open to medicol undergrodLJales and doctors in Foundation Years l and 2. Wllf Howe Fund provide5 a prize for an innovative project in memory ol Dr Wilf Howe. Wllllam Taylor Memorial Fund provide5 for an examination prize. De artment of Health: e-LfH provided funding for the development of leorning modules on health ond work lor generol praclitioners. Dlploma grant provides funding to develop a new diploma. Professlonal brleflngs grant provides funding to run professional briefing workshops. 38 13 FUNDS Asat l January 2024 Asaf Outgolng 31 Decembei Resovrces 2024 Incoming resources Restricled funds Good Proctlce Guldellnes Funds Rolls Royce Guidelines Fund 4,499 4,499 Academlc Acllvllles Funds Mobbs Travelling Fellowship Fund Donald Hunler Lecture Fund Ernestine Henry Lecture Fund Ess0 Research Fellowship Fund Exxonmobil Elective Fellowships Fund Will Howe Fund William Taylor Memorial Fund 4.166 4,166 11,069 11,069 3,087 3,087 563 15631 1,695 4,181 1,695 4,181 70 1701 Department of Health le-LfHI e-learning HWM diploma gront 44.736 2.000 44.736 2.000 Professionol Briefings grant 105 11501 76,171 17381 75,432 b) General funds 2,802,598 1,559,797 11,320,048) 3,041,348 Total funds 2,878.769 1.559.797 (1,321.786) 3,116.780 39 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS The net ossels ore held lor the various funds as follows.. Unrestricted General Restsicled Total Tangible fixed asse15 Nel current ossets 1,348,176 1,886,756 1.348,176 1,962,188 75,432 3.234,932 75,432 3.310,364 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 The nel ossets are held for the voriou5 lund5 a5 follows.. Unrestri¢led General Restfieted Total Tangible fixed ossets Nel current assets 1,352.279 1,715.569 1,352,279 1.791,001 75,432 3,041.348 75.432 3,116.780 16 COMMITMENTS UNDER OPERATING LEASES 2025 2024 Not later than l year 6,300 6,300 6.300 6,300 17 CONNECTED CHARITY The Faculty of Occupationol Medicine is on independent registered charity responsible for ils own odministralion and financial management. 18 RELATED PARTY TRANSACTIONS During the year. the charity made o one-off donation of£54,788 lo support the formation of the College ol Work ond Heolth. on incorporated charity in which FOM is a member. This bolance is inclLJded within Creditors al the Balance Sheet date. 40 19 STATEMENT OF FINANCIAL ACTIVITIES 2024 General Funds Reslrlcted Funds Total 2024 Total 2023 Notes INCOME FROM Chorltable actlvllles Subscriptions Qualilicalions and troining Publicotions SEQOHS MoHoWK Revalidalion Grants ond contracts Conferences and evenls 388.206 393,665 7,701 560,688 15,025 17,172 388.206 393,665 7.701 560.688 15.025 117,172 392,192 395.035 6,716 549.155 13,100 114.024 20,892 20,892 15,366 other actlvltles other income Interest on morlgoge Investment income 148 148 168 56,301 56.301 29,578 Total 1,559,797 1,559,797 1,515.334 EXPENDITURE Chariloble aclivilies 2.3,4 1.321.048 738 1.321.786 1.260,222 Net Income/(expendltuTe) 238,749 17381 238,011 255,112 Net movemenl In funds 238,749 17381 238,011 255,112 Reconciliation ol funds Tofol funds brought forward at l January 2024 15 2,802,598 76,171 2,878,769 2.623,656 Total funds carried forword ot 31 December 2024 3,041,348 75,432 3.116.780 2,878,769 All income has been generated from continuing operations. All recognised gains are included in the Stolement of Financial Activities. 41 Facultyof Occuwlonal hwicbne www.fom.ac.uk www.seqohs.org I Sl Andrew's Place 2 Lovibond Lane London London NWI 4LE SEIO 9FY