# ## ||||Page| |---|---|---|---| |Reference and Administrative||Details|| |Trustees'
Report|||3-15| |independent
Auditors'|Report||16-20| |Statement
of Financial|Activities||21| |Balance Sheet|||22| |Statement ofCash Flows|||24| |Notes to the Financial|Statements||25-40| |Charity number|1146162|||| |---|---|---|---|---| |Company|07941827|||| |number||||| |Registered office|Northumberland
House|||| |and operational|303-306High Holborn|||| |address|London WC1V 7JZ|||| |Trustees|President|||| ||Mr Simon Bush (from 11October 2022)|||| ||Professor Janet Hemingway||CBE,FRS,|DSc, PhD, BSc,NAS (Foreign Associate),| ||FMedSci FRCP (Hon), FRES(Hon), FAAM (to 11October 2022)|||| ||Vice-President|||| ||Ms Sarah Rafferty BAMSc|(from 11October 2022)||| ||Professor David Mabey CBE||DM FRCP|FMedSci (to 11October 2022)| ||Honorary Treasurer|||| ||Mr Tim Hazell BA(Hons) CGMA|||| ||Trustees|||| ||Dr Buddha Basnayet|||| ||Dr Quudus
Yusuff|||| ||Dr Said Abdallah
Jongo|||| ||Karen Brady BSc Hons|||| ||Mr Simon Bush BAMSc|||| ||Mr Tim Hazell BA(Hone) CGMA|||| ||Ms Sarah Rafferty BAMSc|||| ||Professor Bridget Wills, DM,||FRCPCH, DTM&H|| ||Professor David Mabey CBE||DM FRCP|FMedSci| ||Professor Diana Lockwood|MD, FRCP (to 11October 2022)||| ||Professor Gail Davey OBE|||| ||Professor George Varghese|||| ||Professor Janet Hemingway||CBE,FRS, DSc, PhD, BSc,NAS (Foreign Associate),|| ||FMedSci FRCP (Hon), FRES(Hon), FAAM|||| ||Professor Jimmy Whitworth|MD FMedSci FRCP FFPH DTM&H||| ||Professor Olaoluwa
Pheabian||Akinwale|(from 11October 2022)| ||Professor Olufemi O. Adewole|||| ||Professor Pramod Samantaray|||| |Chief Executive|Tamar Ghosh BScMSc MBA|||| |Bankers|National
Westminster
Bank|pic||| ||1 Cavendish
Square|||| ||London W1A4NU|||| |Investment|Eden Investment
Management|||| |Managers|Beaufort House|||| ||Brunswick Road|||| ||Gloucester GL1 1JZ|||| |Solicitors|Bates Wells &Braithwaite
London LLP|||| ||10Queen Street Place|||| ||London EC4R 1BE|||| |Auditors|Knox Cropper|||| ||155London Road|||| ||Hemel Hempstead|||| ||Hertfordshire|||| ||HP3 9SQ|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||account)|||| |---|---|---|---|---|---|---|---| |||For|the|ear ended 31|March 2023||| |||||Unrestricted|Restricted|Total|Total| |||||funds|funds|funds|funds| |||||2023|2023|2023|2022| |||||||6|| ||||Notes||||| |Income from:|||||||| |Donations
and grants||||240,555|936,785|1,177,340|1,002,483| |Charitable
activities||||251,699|51,497|303,196|297,779| |Investments||||77,681||77,681|62,573| |Trading income||||1,453||1,453|| |Other income||||252||252|723| |Total||||571 640|980282|1509922|1 363558| |Expenditure
on:|||||||| |Raising funds:|||||||| |Charitable
activities|||6|621,882|998,250|1,620,132|1,588,454| |Total||||621802|998250|162D132|1088454| |Net (losses)/gains||on investments|13|(146,063||(146,063)|(19,067)| |Net (expenditure)/income||||(196,305)|(9,968)|(206,273)|(243,963)| |Transfers between||funds||16,150|(16,150)||| |Net movement|in|funds||(180,155)|(26,118)|(206,273)|(243,963)| |Reconciliation|of|funds|||||| |Total funds brought||forward||1,619,182|94,618|1,713,800|1,957,763| |Total funds carried forward|||17|1439027|68 5DD|1507 527|1 713000| ## |||||||At|1April||At 31 March| |---|---|---|---|---|---|---|---|---|---| ||||||||2022|Cash flows|2023| ||||||||k||K| |Cash|at|bank|and|in|hand||173733|~115159|58 574| ## |||||Notes|Notes||2023|2022| |---|---|---|---|---|---|---|---|---| ||||||||6|| |Cash inflow used in operating
activities||||||||| |Net cash used
in operating
activities||||||~265 758||~748 518| |Cash flows (used in)/provided
by|investing||activities|||||| |Dividend
income|||||||77,681|62,573| |Purchase ofinvestments|||||13||(77,749)|(69,055)| |Transfer from/(lo) cash deposits|||||||150,067|(5,265)| |Acquisition
oftangible fixed assets
Acquisition
ofintangible
fixed assets|||||12
11|||(10,253)
~10070| |Cash flows (used in)/provided
by investing
activities|||||||149999|~32070| |Net (decrease)/increase
in cash and||cash|equivalents||||(115,159)|(181,588)| |Cash and cash equivalents
at beginning||ofyear|||||173,733|355,321| |Cash and cash equivalents
at end|ofyear||||||68 574|173733| |Cash and cash equivalents
at end|ofyear||comprise:|||||| |Cash at bank and in hand|||||||58 574|173733| |(i) Reconciliation
ofnet expenditure||to net cash|||flow from|operating|activities:|| ||||||||2023|2022| |||||||||8| |Net expenditure
as per statement|of|financial||activities|||(206,273)|(243,963)| |Adjustments
for:||||||||| |Depreciation
charge|||||12||3,866|3,234| |Amortisation
charge|||||11||23,746|23,598| |Net loss/(gain)
on revaluation
ofinvestments|||||13||146,063|19,067| |Dividend
income|||||13||(77,681)|(62,573)| |(Increase)
/ Decrease
in debtors|||||||(38,742)|102,235| |(Decrease) / Increase
in creditors|||||||(116,137)|8,884| |Net cash used in operating
activities|||||||265158|149518| ## ## ## ## ## ## ## ||2023|2022| |---|---|---| |Fellows' services|25'/o|26'/0| |Journals|22'/o|22'/0| |Meetings|22'/0|26'/0| |Grants/awards|31 '/0|260/a| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| ||||funds|funds|funds|funds| ||||2023|2023|2023|2022| ||||6|F||K| |Donations|and|legacies|4,849||92,387|5,786| |Grants|||235,706|936,785|1,084,953|996697| ||||240550|936785|1177340|1002483| ## ## ||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| ||||funds|funds|funds|funds| ||||2023|2023|2023|2022| |||||F.|6|F.| |Fellow's|Annual|Subscriptions|40,139|8,947|49,086|58,718| |Journals|and Publications||189,971|42,550|232,521|224,220| |Meetings|and Events||21,589||21,589|14,841| ||||251609|51497|303196|297779| ## ## ## ||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| ||||funds|funds|funds|funds| ||||2023|2023|2023|2022| ||||6|6||E| |Investment|income||77,681||77,681|02 573| |Total2022||||||| |In 2022, investment||income of562,573was unrestricted.||||| |Trading Income||||||| ||||Unrestricted|Restricted|Total|Total| ||||funds|funds|funds|funds| ||||2023|2023|2023|2022| ||||6|6|5|F| |Income from room||hire|1,453||1,453|| |Total2022||||||| ## ## ## ## |Direct costs||| |---|---|---| ||2023|2022| ||6|| |Membership|20,618|15,380| |Journals|44,814|39,809| |Meetings|29,933|9,492| ||95365|64081| ## |Support and Governance costs|shown below can be apportioned
betwee|n
direct activity|| |---|---|---|---| |||2023|2022| ||Apportionment|6|| |Membership|25/0 (2022; 26/o)|141,421|147,730| |Journals|22/a (2022: 22/o)|124,450|125,002| |Meetings|22/o (2022: 26/o)|124,450|147,730| |Grants, medals and awards|31'/0 (2022: 26'/0)|175,361|147,730| |||565682|508192| ## ## |||2023|2022| |---|---|---|---| |||6|F| |Staff training
and recruitment||9,490|10,833| |Audit and accountancy|services|25,687|44,865| |Travel and subsistence||5,213|4,957| |Legal and professional|services|2,834|4,598| |Marketing costs||7,041|926| |Printing and stationery|costs||2,390| |Irrecoverable
VAT||40,421|8,954| |Postage|||189| |Bank charges and interest||944|| |ITand telephone costs||18,290|23,686| |Volunteer costs||153|731| |Office costs||8,225|| |Otherexpenses|||552| |Insurance||3,037|1,184| |Rent, rates, servicing|and maintenance|93,570|94,202| |Human resources services||2,450|2,920| |Governance costs||12,408|8,217| |CRM Project|||4,476| |Wages and salaries||266,591|286,139| |National
insurance||27,000|26,756| |Pension cost||14,716|14,785| |Depreciation
and amortisation||27,612|26,832| |||585682|568192| ## |This is stated after char|gi|ng:||| |---|---|---|---|---| ||||2023|2022| |Depreciation
oftangible||fixed assets|3,866|3,234| |Amortisation
of intangible||fixed assets|23,746|23,598| |Auditors'
remuneration|-|audit|6,000|8,568| |Auditors'
remuneration|-|other services|19,687|33,092| |Foreign exchange rate|variance|||(75)| |Operating
lease rentals|||71,000|71,000| ## |Staffcosts||| |---|---|---| |Staff costs were as follows:||| ||2023f|2022| |Wages and salaries|267,231|295,314| |Social security costs|27,108|26,756| |Pension costs|14,716|14,785| ||300058|338855| |The average numbe
follows:|r
ofpersons|employed
by the Charitable
Company|during the year w|as as| |---|---|---|---|---| ||||2023|2022| ||||No.|No.| ||||5.91|7.33| |Average headcount|expressed|as afull time equivalent:||| ||||2023|2022| ||||No.|No.| ||||8|7| |Employees whose|emoluments|exceeded 660,000per annum:||| ||||2023|2022| ||||No.|No.| |f80,000-f89,999||||1| |890,000 - E99,999||||| |11.|Intangible
fixed assets|Website| |---|---|---| |||and CRM| |||systems| |||5| ||Cost|| ||At 1 April 2022|164,249| ||Additions|| ||At 31 Mafch 2023|164249| ||Amortisation|| ||At 1 April 2022|93,775| ||Charge for the year|23,746| ||At 31 March 2023|117521| ||Net book value|| ||At 31 March 2023|4672$| ||At 31 March 2022|70474| ## |Tangible fixed assets|||| |---|---|---|---| ||Equipment|Office|Total| ||and|refurbishment|| ||furniture||| |Cost|||| |At 1 April 2022|44,625|39,662|84,287| |Additions|||| |At 31 March 2023|44,625|39,662|84 2$7| |Depreciation|||| |At 1 April 2022|31,544|38,262|69,806| |Charge for the year|3,666|200|3,866| |At 31 March 2023|35,216|38,462|73 672| |Net book value|||| |At 31 March 2023|9,415|1,200|16615| |At 31 March 2022|13,081|1,4011|14481| ## ## ## ## ## |14.|Debtors||||||| |---|---|---|---|---|---|---|---| |||||||2023|2022| |||||||6|| ||Trade debtors|||||22,543|(3,946)| ||Other debtors|||||8,145|8,169| ||Prepayments|and accrued income||||95,855|66,082| ||VAT repayable|||||1,559|19,055| |||||||128182|893611| |15.|Creditors: amounts||falling due'within||one year||| |||||||2023|2022| |||||||K|6| ||Trade creditors|||||7,973|45,962| ||Other taxation|and|social security|||11,449|8,461| ||Other creditors|||||1,906|1,811| ||Accruals and|deferred||income||172,446|255,019| |||||||193774|311253| |16.|Creditors: amounts||falling due after||more than one year||| |||||||2023|2022| |||||||6|| ||Accruals and|deferred||income||16844|15552| |financial|year. M|ovement
in defe|rred
income is analysed
|below|:|||| |---|---|---|---|---|---|---|---|---| ||||Brought|Am|ount|Amount||Carried| ||||forward|add|ed|released||forward| |Deferred|income|2023|232,166||248,305|(308|,586)|171,885| |Deferred|income|2022|235,284||337,089|(340,207)||232,166| ## ## |Financial|instruments||||||| |---|---|---|---|---|---|---|---| ||||||2023||2022| |Financial|assets||||5||f| |Financial|assets measured|at amortised|cost||155,444||381,944| |Financial|assets measured|at fair value through||net|||| |income
/|expenditure||||1 4491181|1|517395| ||||||1894 525||1 899339| |Financial|liabilities||||||| |Financial|liabilities measured|at amortised cost|||27284||85129| ||||||l0
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I-| ## ## ## ## ## ## ## ## ## |||2023|2022| |---|---|---|---| |||8|F| |Land|and buildings||| |Within|1 year|33073|44097| ##