## THE BRITISH ENDODONTIC SOCIETY
Company Limited by Guarantee
Trustees' Report And Unaudited Financial Statements For the year ended 31 December 2022
**Registered Charity No. 1149178 Company No. 08183601**
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** CONTENTS OF THE FINANCIAL STATEMENTS
||**Page**|
|---|---|
|Legal and Administrative Information|1|
|Report of the Trustees|2 - 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 - 11|
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** LEGAL AND ADMINISTRATIVE INFORMATION
|**Trustees and Directors**|Mr Mark Hunter|_(Resigned 12 March 2022)_|
|---|---|---|
||Kunal Patel|_(Resigned 12 March 2022)_|
||Dipti Mehta||
||Mr Sanjeev Bhanderi|_(Resigned 12 March 2023)_|
||Dr Daniel Vaz De Souza||
||Dr Samuel Mark McAlister|_(Resigned 12 March 2023)_|
||Dr Josephine Camilleri|_(Resigned 12 March 2023)_|
||Dr Philip Tomson||
||Dr William McLean|_(Appointed 11 March 2023)_|
||Mr Alyn Morgan||
||Mr Giuseppe Di Filippo||
||Dr Petros Mylonas|_(Appointed 11 March 2022)_|
||Dr Maria Lessani||
||Dr Simon Stone||
||Mr Satnam Singh Virdee||
||Mrs Risha Patel||
|**Charity number**|1149178||
|**Company number**|08183601||
|**Registered office**|4 Victoria Square||
||St Albans||
||Hertfordshire||
||AL1 3TF||
|**Independent Examiner**|Roger Ogden||
||Moore Kingston Smith LLP||
||4 Victoria Square||
||St Albans||
||Hertfordshire||
||AL1 3TF||
|**Principal Bankers**|CAF Bank Limited||
||25 Kings Hill Avenue||
||Kings Hill||
||West Malling||
||Kent||
||ME19 4TA||
Page 1
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
This report covers the financial activities of the British Endodontic Society for the financial year ending 31st December 2022.
As in previous years, the Financial Activities will be prepared in accordance with the Charity Commission’s “Statement of Recommended Practice: Accounting by Charities” (SORP). The report will be lodged with the Charity Commission, together with the statement of the Society’s activities for the year. The report is presented in the form of an “Independent Examiner’s Report” as is the requirement of the Charity Commission for charities with a turnover of less than £1 million.
## **Structure, Governance and Management**
## **Election of Officers 2022/23**
President Sanjeev Bhanderi President Elect Maria Lessani Vice President Elect Alyn Morgan Hon. Treasurer Daniel Vaz de Souza Hon. Secretary Phil Tomson Hon. Asst. Secretary Dipti Mehta Hon. Communications Officer Dr Risha Patel
## _**Governing document**_
The British Endodontic Society is a company limited by guarantee and a regisrtered charity governed by its Memorandum and Articles of Association.
## _**Organisational structure**_
The charity is organised as a society for the promotion of postgraduate education by way of meetings, literature and advice for members, the dental profession and the general public.
## _**Trustee appointment, induction and training**_
New trustees are appointed by existing trustees if they are seen as helping to fulfil any shortfall in the skill set of the board. The charity holds a general meeting each year. Existing trustees help with the induction and training of new trustees. New trustees are encouraged to read the guidance on trustees’ responsibilities issued by the Charity Commission.
## _**Public benefit**_
The trustees have given due consideration to the Charity Commission guidance on the operation of the Public Benefit requirement and identify that benefit in the activities carried out for the purpose of promoting the objects of the Charity and charitable activities as detailed in this report satisfy this requirement.
## _**Risk management**_
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## _**Objective and activities**_
The activities of the British Endodontic Society aim to promote and advance endodontology and to ensure that the dental and general health of the nation is both maintained and improved, and that life long education is encouraged and facilitated.
## _**Achievements and performance**_
The charity continues to be in good health. The accounts, including investments, showed a brought forward balance from 2021 of £701,442. The deficit for the year to 31st December 2022 was £68,628.
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**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
## **Income**
Society income from all sources showed an increase from the previous year and was £383,736. This increase was largely due to an increase in events income. Currently, the royalties paid by Blackwell Publishing still represent approximately 50% of the Society income. See section Royalties.
## **Royalties**
These arise from the agreement between the BES and Blackwell Publishing and are royalties on the title of the International Endodontic Journal. The expenses for the journal are borne by the Publishers and the Society receives a donation of a share of the profits. Our donation received in the financial year amounted to £167,354 which is an increase over the royalties received in 2021. The projected income for the coming year will be in line with that of previous years. The success of the Journal is founded on the past and present efforts of the BES, its membership and the editorial board.
## **Meetings**
The Spring Scientific Meeting 2022 was well attended and had an income of £19,290 (£11,915, from registrations and £7,375 of trade income from stands). The Regional Meeting in 2022 has always proved very popular and had an income of £105,645 (£87,065 from registrations, £18,450 of trade income from stands and £130 miscellaneous income). In 2022 the Society has introduced The Early Careers Study Day and this had generated and income of £6,640.
## **Expenditure**
Expenditure has increased compared to last year to £452,364. This was largely due to increased events costs and initiatives like continuing to develop the society’s website, teachers group and Early Careers Group. Grants were paid in 2022 in the amount of £59,764 compared to £24,207 in 2021. Society prizes were paid in 2022 to in the amount of £7,949.
## **Future**
The society continues committed to its governing motto, “promote, educate and advance”. It continues to actively support educational and endodontic research activity, has revamped the structure of its prizes, continues to support the endodontic Teachers Group and the vibrant Early Career Group. The costs of the society are projected to increase in line with the needs of these activities. Unfortunately, 2023 is and continues to be challenging financial year and in order to protect the scale of our activities membership fees have been increased, the first since 2017, to all categories, the full impact of this measure will be fully disclosed in the 2023 Treasurers report. However, as released in the past year’s report, other steps to protect the society activities and financial health have been implemented including, yearly budget, allocation of multiple cash deposits to reduce risk and investments of part of the society reserves in Charities Authorised Investment Funds.
Page 3
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
## **Summary**
The British Endodontic Society continues to remain in a very healthy financial position. The society currently displays a vibrant and younger council, with a very strong membership. The financial success of the BES for the year 2022 was due to the efforts of the entire committee but in particular the efforts of the President, IEJ Editor, Hon Secretary and Annabel Thomas who continues to provide invaluable support and continuity. Statement of Trustees' Responsibilities
Company law requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether the applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonably accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities 2015 and in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Approved by the Trustees and signed on their behalf by:
Dr Daniel Vaz de Souza Honorary Treasurer for the British Endodontic Society
29 September 2023
Page 4
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent Examiner's Statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the ACCA, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
- 1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act;
- 2) the accounts do not accord with those records; or
- 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
- 4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## 29.09.2023
……………………………..
**Roger Ogden FCCA On behalf of Moore Kingston Smith LLP Chartered Accountants**
**4 Victoria Square St Albans Hertfordshire AL1 3TF**
Page 5
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
**----- Start of picture text -----**
2022 2021
Unrestricted Unrestricted
Note funds funds
£ £
INCOME AND ENDOWMENTS FROM:
Charitable activities 381,975 315,230
Investments 1,761 78
Total income and endowments 2 383,736 315,308
EXPENDITURE ON:
Charitable activities 452,364 307,442
Total expenditure 4 452,364 307,442
NET INCOME 3 (68,628) 7,866
RECONCILIATION OF FUNDS
Total funds brought forward at 1 January 2022 701,442 693,576
Total funds carried forward at 31 December 2022 632,814 701,442
**----- End of picture text -----**
Page 6
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** BALANCE SHEET AS AT 31 DECEMBER 2022
**----- Start of picture text -----**
Note 2022 2021
£ £
Current Assets
Debtors 9 121,653 48,399
Investments 30,000 -
Cash at bank and in hand 530,135 712,063
681,788 760,462
Liabilities
Creditors: Amounts falling due within one year 10 (48,974) (59,020)
Net Current Assets 632,814 701,442
Total Assets less Current Liabilities 632,814 701,442
Net Assets 632,814 701,442
Represented by:
Accumulated Funds
Unrestricted funds
- General funds 12 632,814 701,442
Total Accumulated Funds 632,814 701,442
**----- End of picture text -----**
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board for issue on......................29 September 2023
…………………………………..
**Dr Daniel Vaz De Souza - Trustee**
**Company number: 08183601 Charity number: 1149178**
Page 7
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
## **1 Accounting Policies**
- The following notes outline the main accounting policies of the charity which have been used consistently in preparing these accounts.
## **(a) Basis of accounting**
- The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public benefit entity for the purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP), the companies Act 2006 and Charities Act 2011.
The Charity constitutes a public benefit entity as defined by FRS 102.
## **(b) Going concern**
The charitable company made a net loss of £68,628 during the year and at the Balance Sheet date had total accumulated funds of £632,814. Subsequent to the year end, the trustees have assessed whether the use of going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. In particular, the trustees have considered the charitable company’s forecasts and projections and have taken account of pressures on income and the impact of the cost of living crisis. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements.
## **(c) Incoming Resources**
All incoming resources are recognised in the period in which they are receivable which is when the charity becomes legally entitled to the resource.
## **(d) Resources Expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. It includes both costs that can be allocated directly to such activities as well as support and governance costs, i.e. those costs of an indirect nature necessary to support such activities.
Support and Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity together with costs linked to the strategic management of the charity .
## **(e) Grant making policies**
The trustees allocate grants in accordance with the objects set out in the Memorandum and Articles of Association of the Charitable Company, which are summarised in the Trustees' Annual Report.
## **(f) Funds**
All the charities funds are unrestricted which means they can be used for any of the charitable activities.
## **2 Income and Endowments**
|**_Income from charitable activities_**
Delegate fees
Other membership income
Trade stands
Royalties
**_Income from investments_**
_Bank interest received_
**Total Income and Endowments**|**2022**
**£**
113,615
75,181
25,825
167,354
1,761
383,736|**2021**
**£**
75,190
70,590
11,750
157,700
78
315,308|
|---|---|---|
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**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
**----- Start of picture text -----**
3 Net surplus/(deficit) for the year is stated after charging: 2022 2021
£ £
Independent examination fees 11,100 10,800
4 Analysis of resources expended 2022 2021
Charitable Activities Costs: £ £
The promotion of postgraduate education
Direct costs (note 5) 218,678 130,585
Support and Governance costs (note 6) 174,423 152,650
Grants 59,264 24,207
Total Charitable Activities Costs 452,364 307,442
5 Direct Expenditure on Charitable Activities 2022 2021
£ £
Journal subscription costs 35,990 38,350
Spring Scientific Meeting costs 37,592 -
Dentistry Show costs 2,866 -
Teachers Meeting costs 8,088 -
Regional Meeting costs 95,894 83,930
European Society of Endodontology (ESE) 6,716 -
Early Career Group 18,553 -
Other meeting costs 12,958 7,245
Travel costs 21 1,060
218,678 130,585
6 Analysis of Support Costs Support Governance Total Total
2022 2021
£ £ £ £
Administrator's salary 50,670 - 50,670 46,453
Admin Support 2,512 - 2,512 2,103
Prizes 8,364 - 8,364 13,113
Postage and stationery 2,244 - 2,244 1,162
Advertising 14,740 - 14,740 6,300
Bad debt 750 - 750 -
Bank charges 2,268 - 2,268 246
Credit card charges 2,501 - 2,501 3,095
Telephone 405 - 405 370
Computer and internet 30,063 - 30,063 25,900
Honoraria 14,358 - 14,358 15,000
Subscriptions 1,331 - 1,331 760
Sponsorship 500 - 500 -
Sundry expenses 3,592 - 3,592 3,629
Insurance 344 - 344 297
Accountancy - 11,538 11,538 12,688
Legal and consultancy - 28,242 28,242 21,534
134,644 39,780 174,423 152,650
7 Analysis of Grants Paid 2022 2021
£ £
Research grants 59,264 24,207
59,264 24,207
**----- End of picture text -----**
Page 9
## **THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)** NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
|**8**
**Wages and salaries**
**2022**
**2021**
**£**
**£**
Wages and salaries
48,266
44,345
National Insurance contributions
1,168
965
Employers Pension Contributions
1,237
1,143|
|---|
|50,670
46,453|
|During the year ended 31 December 2022 the charity had an average of 1 employee (2021: 1).
None of the trustees received remuneration or other benefit for the year ended 31 December 2022 (2021: £nil).
None of the trustees were reimbursed for any expenses during the year ended 31 December 2022 (2021: £nil).
**9**
**Debtors**
**2022**
**2021**
**£**
**£**
Trade debtors
12,290
4,965
Prepayments and accrued income
108,948
43,018
Other debtors
415
416|
|121,653
48,399|
|**10**
**Creditors: Amounts falling due within one year**
**2022**
**2021**
**£**
**£**
Trade creditors
20,764
5,339
Accruals and deferred income
25,208
50,891
Tax and social security
3,002
2,790|
|48,974
59,020|
## **11 Deferred income**
|Deferred income|**Balance at**
**1 January**
**2022**
**£**
1,100|**Released**
**£**
(1,100)|**Income**
**deferred**
**£**
9,530|**Balance at**
**31 December**
**2022**
**£**
9,530|
|---|---|---|---|---|
Deferred income at year end relates to membership income received for year ended 31 December 2022.
## **12 Analysis of movements on reserves**
|**Unrestricted reserves**
General funds|**Balance at**
**1 January**
**2022**
**£**
701,442
701,442|**Incoming**
**resources**
**£**
383,736
383,736|**Resources**
**expended**
**£**
(452,364)
(452,364)|**Balance at**
**31 December**
**2022**
**£**
632,814
632,814|
|---|---|---|---|---|
## **13 Analysis of net assets between funds**
All assets and liabilities at the year end relate to unrestricted funds.
## **14 Company limited by guarantee**
The charity is limited by guarantee and does not have any share capital. Each member of the charity is liable to repay the debts up to a limit of £1 each.
## **15 Related parties**
The charity is not aware of any related party transactions during the period.
Page 10
**THE BRITISH ENDODONTIC SOCIETY (Company Limited by Guarantee)**
**----- Start of picture text -----**
INCOME 2022 2021
£ £
Activities for generating funds:
Delegate fees 113,615 75,190
Other membership income 75,181 70,590
Trade stands 25,825 11,750
Royalties 167,354 157,700
381,975 315,230
Investment income
Deposit account interest 1,761 78
Total incoming resources 383,736 315,308
EXPENSES
Administrator's salary costs 50,670 46,453
Admin support 2,512 2,103
Journal subscription costs 35,990 38,350
Spring scientific meeting costs 37,592 -
Regional meeting costs 95,894 83,930
Dentistry show costs 2,866 -
Teachers meeting cost 8,088 -
European Society of Endodontology (ESE) 6,716 -
Early career group 18,553 -
Council expenditures 12,958 7,245
Travel and subsistence 21 1,060
Prizes 8,364 13,113
Postage and stationery 2,244 1,162
Advertising 14,740 6,300
Bank charges 2,268 246
Credit card charges 2,501 3,095
Telephone 405 370
Computer and internet 30,063 25,900
Honoraria 14,358 15,000
Subscriptions 1,331 760
Research grants 59,264 24,207
Sundry expenses 3,592 3,629
Bad debt 750 -
Sponsorship 500 -
Insurance 344 297
412,585 273,220
Accountancy 11,538 12,688
Legal and consultancy 28,242 21,534
39,780 34,222
Total resources expended 452,364 307,442
Net income (68,628) 7,866
**----- End of picture text -----**
This page does not form part of the financial statements and is for the Trustees' information only.
Page 11