Registered number: 08489497 Charity number: 1152353 THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 *ABII054ft" 01104r2022 COMPANIES HOUSE Alo
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company lirnited by guarantee) CONTENTS Page Reference and administrative detsils of the Cofflpany. its Trnstees and adviser5 Trustees. report Independent examinerfs report Staternent of financial activities 10 Balance sheet 12-13 Ststernent of Cash flows 14 Notes to the Ilnanclal statements 15-30
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES ANO ADVISERS FOR THE YEAR ENDED 31 JULY 2021 Trustees Mr W Downes, Chair Iresb3ned 28 Novemter 20201 Ms Z Zwerzchowska Ms E Moekel Ms M Monro Mr J Apextegia Irestgr*d 1 April 2021) Ms S Tumer Ms L Herman Ms B Moulang. Treasurer Ms C J Easty. Chair appointment 28 November 2020 Mr M Harris Mr P Lametsdorf (appointed 28 November 20201 Company registered number 08489497 Charity registered number 1152353 Reglstered office The Sile 24 Chosen View Road Chellenham England GL519LT Chlef exe¢utlve officer Mts J Parker-mowbray Accountants Regulatory Aud Vicarage Coiirt 160 Ermin Street Swindon Willshire SN3 4NE Bankers 8arclay3 Bank PIC Beaufort Square Chepstow Monmoulhshire NP16 5XL Page 1
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 JULY 2021 The Trustees present their annual report l¢)Jether wth the financial statements of the Company for the year year 1 August 2020 10 31 July 2021. The Annual report serves Ihe purposes of both a Truslees. report and a directors, report under company law. The Trustees confim) that the Annual report and finanGial statements of the haritable company comply with the current statutory requirements. the requirements of the charitable companys governing document arKJ the provisions of the Slalement of Recommended Practice {SORP) applicable to charities preparing their accovnls in accordance wbth the Financial Reporting Siandard applicable in the UK and Republic of Ireland {FRS102} {effective 1 January 20191. Since the Company qualffies as small under seclion 382 of the Companies Act 2006. the Strategic report required of medium and large Companies under the Cornpanies Act 2006 (Strategic Report and Dire¢tors' Report) Regulations 2013 has been omilled. ObjgCtive$ and activitie$ . Policies and objectives The Trustees have considefed the Charity Commission's guidan on Public Benefit along wrth their duty in respect of section 17{5} of the Chanties Act 2011 in respect of Public Benefit and whilst needing lo manage ils finances responsibly and effeclivdy. In 2020r21 the Suthedand Cranial College of Osteopathy Limited ISCCO) reviewed ils various policies in place lo help students afford courses. and both widened the eligibility criteria and increased the value of new graduate discounts for Module 2 courses from £150 to £250 and more than doubled the number of 50% scholarships to a totsl of ten for Module 2. This resutted in a lolal of £30,000 (£16,640 in 20191201 being made available to support new graduales. A fund of £8,000 was made available lo SCCO Fellows allowing them lo receive a 25% reduction in the cost of any p0V$1Y attended Pathway course. lo encourage our Fellowship to revisit and update their knOwdge alongside our newer stLKlents, giving a total of £38,000 (£24,640 in 2019120) ]rJ mJe available lo sludents lo assist wilh course fees. The SCCO has continued to recognise the achievements of new graduates Ihrough the sponsotship of the Rising Star Awards at the virtual Insliiule of Osleopalhy ConVen)n. b. Strategies for achieving objectives The objeclives of the SCCO are to advan the further education and training of graduates and undergraduates and persons other%ise qualified in osleopathy. mediane. dentistry and related arts and sciences. In particular (bul without prejudice lo the generality of the foregoing) by promoting and leaching the principles of osteopathy as Con1ved by Andrew Taylor Still aryj developed by William Gamer Sutherland, disseminating a general knowledge of the philosophy of the Iherapeuti¢ indications for osteopathy in the cranial field, encouraging physicians and stimulating continued study for greater proficiency in the wactice of osteopathy in any manner considered appropriate in the absolute discretion of ihe Truslees. Page 2
THE SLifHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guaranteg) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 Oblectives and acllvltles Icontlnuedl c. Activities undertaken to achieve obiectsves The activities undertaken in 2020121 in support of rts objectives include running 13 post graduate courses across the UK and in Germany. including 3 paedialric Coufses. 1 short course. and faculty development events. Due to Covid19 il was not possible to run the 2 courses planned for Spain. In order to continue to promote the Fmnciples of cranial osteopathy during at a time then Covid19 reslricb.ons prevented face lo face courses. the SCCO has provided sludenls with on line training courses. focus groups. Pre-COrded videos and social media plattorms, all of which have been well received and supported. The SCCO has historically provKled financial support for research actiwties inlo osleopalhy in the cranial field. however against a background of limited opportunth.es for researeh during the pandemic and an uncertaln financial posrtion the dectsion was taken lo not fund research for this period. hi•vements and perforniance a. Main achlevements of the Company The SCCO continues to athmnce further education needs of graduate osteopaths. fulfilling the need by the development of 8 pathway of learning. leading to POsl%raduale qualrfications in 05teopathy in the cranial field. This, combined with the further provision of short courses and the Pedialrics Osleopalhic Diplomas programme has advanced osteopathic education and providing Continuing Profession Development for qualified osteopaths. Covid19 prevented many face to face courses. The SCCO responded by prowded students with on line training courses where possible. and gave open access to prerecorded videos which benefitted a wide audience. The Charitys funds have been consistently apFdied in furthering these charilabbe acttvibes. Page 3
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JULY 2021 hievem8nts and perfomiance {continued) b. Key perforrnance indicator5 The Trustees meet once a year to plan and review Ihe acbvilies wthin the strategic plan and agree key performance indicators IKPlsl by %thich performance against rts strategic objectives can be measured. KPIS are sel lo measure performance in four areas.. our customers (students and members), our people (Trustees. faculty and stsff). finance and governance, and marketing, communications and research. Performance against the KPI largels is rewewet1 al each of Ihe four Trustees meelirwJs a year, alongside the CEO'S report against compliance with key legal and regulatory requirements for the educational and charitable sector. Trustees approve the annual budget at the slart of each year. and throughout the year financial performance is monitored against this and compared lo income and expenditure for the prewous year. KP15 were set against the background of the pandemic, and at a time when it l¢xJked likely that courses may resume, all be il wlh social distancing restrictions and therefore limited student nurnbers. This was the case for the period of September lo November. however re9ulalions then came into effect that Pfevented face to face course until April 2021. Travel restrictions grealjy impacted on overseas urSeS throughout the year, with UK Faculty unable to travel to Gemany and Spain to nJn courses. The KPI for the number of courses ltsrget 23. achieved 13) and students (target 600. achieved 3411 were not achieved for the reasons gNen above. Therefore. financial performance vthin the quarterly projections for the last three quarters of the year and those set by the annual budgel at Ihe start of the year were not achieved. Howèver, largels for membership ltsrgel 650 achieved 6671 and Fellows Itarget 150 achieved 164) were all exceeded, as was the 100% target for good or excellent student satisfaction in sludent feedback surveys for the courses that were able to go ahead. th 99% of SCCO courses that ran being rated good or excellent. and all individual courses exceeding the target of 90% beir¥J rated good or excellent. Two of the five courses for whith rentlY qualffied students receive bursaries and scholarships were cancelled due lo Covid19 reslriclions. and those that v*re able lo run had significantly reduced student numbers due lo social distancing regulations. This resutted in only £7.148 of the £30.000 scholarship and bursary funding and none of the £8.000 Fellows bursary funds being lakeD up. and 0.96% of financial reserves awarded in respect for student support against a target of 4.&5.5%. Students who were awarded scholarships and bursaries for cancelled courses wll be able to carry these awards forward lo the next year in addition to the new allocations approved for 2021120 courses. Overall the number of students studying wlh the SCCO for the first time as percentage of overall students vthho attended courses in Ihe year fell sl4ghlly to 300/0133% in 2019120). Page 4
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guardnteel TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 JULY 2021 Achievements and perforniance Iconlinued} c. Factors relevant to achleve oblectlves The SCCO ran 13 courses in 2020121. attended by 341 students_ This is a decrease of 56 over last year, and considerably less than the 6(KJ plus students 5¥ho have attended courses in prevtous years. These reductions are the result of Government resliictions due to the Covid19 pandernic. which have resulted in course cancellations and reduclions student nufflbers being able lo attend those that have gone ahead. Travel restrictions have also caused disrupti¢Ms for both students wishing to travel to the UK lo attend Courses and faculty travelling lo leach. Work a rounds have been implemented wherever possible. examples being a totally Geman Faculty running a M2 course in Gemiany for the first time. ort-line Pediatrics Diploma courses, and changes lo the short course prograffl lo allow topical and needed forums to address the treatment of post viral patients. Additionally. on line vmleos. student focus groups and increased activity on college social media sighls has kept students informed and in louch. The SCCO office team have worked from home throughout the year. using IT lo remote dial into all office system5. only visibng the office in person when unable lo work from home. The SCCO was unable to complete the nornial round of visits to undergraduate colleges. bul instead provided on line interaction via college on line events_ Brexit presented some challenges to the cole. mainly due to the lale confirmation of data proleclion regvlalions, customs systems and the lack of information in respect of visas for Faculty Iravelling to the EU from 1 January 2021. The SCCO sought leg81 advice and obtained Gemian Government waivers for SCCO Faculty travelling to both North and South Gefmany to teacher on behalf ol the SCCO, which wll avoid the cost of visas and the disruption involved in obtaining them. however. the rJJrrent Sbtualion is that visas will be required for Faculty travelling to Spain. d. Inveslment policy and perfom)ance The Trustees consider it is thwr responsI'11ty to ensure that the Charities resew are protected and that Sur$ funds are invested wrthin a fund Nthose social and ethical policies mirror those of the Charity. On this basis the Charity invests any surplus funds within the COIF Charities Investment Fund Income Units. In May 2021 £50.000 of shares were sold. in order to repay in full the Covid19 Bounce back loan laken out at the start of the pandemic. The loan allowed sufficient cash flow lo reimburse students for Call11ed courses at the start of the pandemic vlrthout having to sell shares at a lime en their market value was low, and ensuring maximum dividend Teturns of £22,52312020.. £20.9041 . The value of the investrnent on 31 July 2021 was £788.296 {2020. £721.541}. this resulted a eld of 9.30A capital gro¥th for the Jear 12020.. 9.70KI plus 2.9% dividends {2020'.2.9%1, a total yield of 12.Yh12020'. 12.6%). Flnancial rgview a. Going Concem Whilst the pandemic has restricted both the number of courses and the number of students 8ble to attend courses the SCCO has continued to provide face to face courses when regulations have allowed. and on line training ereVer possible Sthen allematives were required. Looking forward. during the next 12 months we will be running more courses than ever before. to meet a baeklog of demand. Bookings are high. and feedback confimis the College is meeting the standards expected by its students. The SCCO will ntinUe lo apply a policy of Tefunding in full any student who is unable to attend a course due lo Government reslriclions, which has been key lo maintaining student confidence and course bookings. The SCCO is in a rotrtjst financial position in having unrestricled funds of £649,999 ensuring there are sufficient funds for the SCCO lo continue lo operate for the foreseeable future and to continue to SUPF*Xt its charitable aims. Pag8 5
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limmed by guarnntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENOED 31 JULY 2021 b. Resèrves policy It is th8 policy of the charty to maintain unrestricted funds. which are free reserves of the charity. at a level which equates to no less than approximalely one year of general ovethead expendrture which is currently £180,000 after the costs of course provision. This provides sufficient funds to cover management and adminislralion and support costs. Our reserves also provide a contingertcy fund of £50.000 lo cover redundancy and cancellation contracts if for any reason we are unable lo continue lo operate allowing us lo meet any current and on-going In 2021120 the charity has commitied lo investing surplus inlo charitable support and bursaries for elHJible students including its Fellow5, development of its Faculty, funding of osteopathic research and to fund the finally year of the educational review. We are predicting a deficit budget for 2021122 of £71.390, of which £88,040 is eharitable support. This is based upon eareful consideration of the SCCOS favorable funding position and the need lo support both SCCO students and vAder osteopalhy. in particular research. after a particularly difficult period. The remaining unrestricted funds are held for the ftEnding of future developments including the funding of education and research projects and the completion and implementation of the educational reVw. Total funds al the year end were.. Unrestricted- £649.999 Restncted- £760 c. Principal funding The princip81 source of fundirwJ for the chanty is the sludenl fee income. It also has a paid for Membership and Fellowship scheme for osleopalhs successfulty complete qualfy'ng courses and case study assunmenls. The financial slatements have been prepared for Ihe year ended 31 July 2021. Investment dividends produced gains of £22.523 bul the requirement lo cancel courses resulted in costs exceeding income with a year*nd operating deficil of £115.866 which is Ihe second time in six years the charity has not achieved a surplus operating income at year erKI. Structure. governance and management . Constitution The Sutherland Cranial College of Osteopathy Limtted is Teg15tered as a charilable company limited by guarantee and was set up by a Trusl deed on 10 June 2013. The thafity is consbluted under a Trust deed dated 10 June 2013 and is a registered ehanty number 1152353. The charity was incorporated on 15 April 2013 and commenced trading on that date. b. Methods of appointment or election of Trustees Under the constitvtion. the charity shall ew from rts memtrHship a Board of Directors, known as the Board of Trustees of betsveen three and ten members. The directors shall hold Offi until the conclusion of Iheir term of office which is three years after their election. They may then stsnd for re-election for a further three years. Exceptionally a director may be re-elected for one lurther year beyond a six-year term if serving as Chair of the Boaid. New Trustees are provided w((h coiies of the SCCO constitution. previous Trustee meeting minutes. and a set of Charity Commission documents on the Role of a Twstee. arKI are required to complete a register of any interests or loyamies which may confl1 them in their role. Page 6
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA Company limited by guarantee) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 JULY 2021 Structiirg9 governanco and management {ntinued1 c. OrganlsalKnal strncturn and declslon•maklng policies The charity is a membership org8nis8tion which delegates authority lo an elecled Board of Trustees. The Trustees are reSponsie for strategy and approv81 and monrtorirrfJ of annual budgets and business plans. Course content and quality is delegated to an Education Committee. who also make recommendations fow the selecbon of Course Directors_ The Education Committee reports to the Board. The research agenda is delegated to a Research Committee that reports to the Board. There are advisory committees for Communications and for delivery in Gem)any and Spain. The Board of Truslees are supported by a small stsff team which has authority delegated lo il for Ir4istical planning and delivery of courses. rnarketing and financial operation up lo a limit of £1.500 after lch Treasurer approval is required. d. Pay policy for key managernent personnel The SCCO management pay policy is lo pay more than the living wage for all staff posts. to bench-mark pay for equivalent posts locally and nationalty and lo maintain staff wages in line 4Mth inflation. e. Flnanclal rlsk management The Tnjstees have a duty to identify and review risks to which Ihe charity is exposed. The College r¢sk register is reviewed and updated as necessary at each Trustees meeting to ensure that appropriate controls are in place lo provide reasonable assurance again51 a variety of risks_ The key risks remain 1. student numbers falling and impacting on our income which is miligated by an increased program of charitable support 2. Key staff leaving, which is miti"galed by maintaining a positive and supportNe work enwronment and good communication during enforced homeworking and 3. Loss of rec¢JJnition by the regulator, GOSC which is miligaled by ongoing review our courses against their standards. The risk posed by Bfexrt duriThJ 2020121 w8s considered by Iruslees and a separate Brexit risk register and contingency plans enswed Ihe SCCO has remained fully operational post Brexil. The Trustees continue to assess currenl FrfOrMan against each of the 7 areas of thg Charities Commission Governance Code as detailed in the Governance Review CoMpted in April 2019. in order lo further improve both I1r own and wder SCCO perfomiance. f. Dlssolulion and transfer The Sutherland Cranial College of Osteopathy (SCCO) is a Charitable Company Limited by Guarantee. incorporated in April 2013 and receiving charitable regislration in June 2013. There is provision within the Articles of ASsoCli0n. at article 60, that should il be necessary to dissofve the charity, that ils assets after paymgnl of debts and liabilities shall be transferred to another charitable institution with similar objects lo the SCCO. Page 7
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED IA company lirnited by guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 Plans for future periods The program for 2021r22 is full, th a total of 27 events. induding 11 UK and 8 German pathway courses. in addition lo 3 UK short courses, 3 paediatric ¢(wrses, the Rollin Becker Memorial Lecture and workshop, a conference and Faculty Development events in three counlr*s. Govemmenl iegulations in Germany regarding social dislancing wll limit the number of places available on Gemian courses, bul it is hoped thal UK courses will run at pre pandernic student numbers. Future bookings are good and students are keen to attend face to face courses again. In order lo assisl students. course fees wain unchanged. and the bursary and scholarship increases intrthyuted at the start of 2020 viill remain in place. The SCCO wll resume rts support of cranial osteopathy research activities in 2021. and will fund research into the effect of osleopalhic Ireatmenl of new mothers. in particular their views on the effect of treatment on Iheir postnatal well-being. which is being carried out by the Babycheck project in Bath. The SCCO is also eXorIng the opportun.rty of funding Paediatn"c clinics. which would gwe clinical experience to SCCO Paediatric Diploma sludents. and inCSe public aCS lo cranial osteopathic treatment. Although Covid19 has delaFd some ol the work of the Educalional Review project team. the Trustees have received regular reports and outputs. which have informed strategic planning. particjjlarly in respect of course delivery via an wrtual leaming environment in the fuiure. Page 8
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021 Statement of Trustees. responsibilit•es The Trustees {¥tho are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United lQngdom Generalty Accepted Accounting Practice). Company law requires the Tnjslees to prepare financial statements for each financial year. Under company law, the Trustees must nol approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of ils incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial stalemenls. the Trustees are required lo.. seleet suitable accounting poli and then apply them consistenuy, observe the methods and principles of the Chanties SORP IFRS 102)" make judgmenls and accounting estimates that are reasonable and prudenl- slate ¥thelher applicable UK Accounting Standards IFRS 102) have been followed. subject lo any rnalerial departures disdosed and explained in the financial statements. prepare the financial ststements on the going concem basis unless it is inapprosxiate lo presume that the Company will Continue in business. The Trustees are responsible for keeping adequale accountiTrJ records that are sufficient to show and explain the Companws transactions and disdose with reasonable accuracy al any lime the financial posi(ion of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities_ Approved by order of the members of the board of Trustees on and signed on their behalf by. 9411, I1 MsCJEasty (Chair of Trustees Page 9
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A e¢)mpany limited by guarantee) INDEPENDENT &WalNER'S REPORT FOR THE YEAR ENDED 31 JULY 2021 Independent Exarninerfs Report to the Trustees of The Suthefland Cranial College of Osteopathy Limited I'the Compan) I report lo the charity Trustees on my elMination of the accounls of the Company for the year ended 31 July 2021. Responslbillties and Basis of Report As the Trustees of the Company (and its directors for the purwses of company law) you are responsible for the preparation of the accounts in accordance th the requirements of the Companies Act 2006 {'the 2006 Act'l. Having salisfied myself that the accounts of the Company are not required to be audtted under Part 16 of the 2006 Act and are el3itrAe for independent examination. I report in respect of my examination of the CompanWs accounts carried out under secb.on 145 of the Charities Act 2011 Ilhe 2011 Acl'l. In ca[ng out my examination I have followed the Directi$ given by the Charity Commission under section 14515)Ibl of the 2011 Act. Independent Examinerfs Statement I have completed my examination. I confimi that no matters havé come to my attention in connection with the examination giwng me cause to believe.. accounting records were not kept in resKct of the Company as required by section 386 of the 20C Act. or the accwnts do rKIt accord with those records: or the accounts do not comply wth the accounting requirements of section 396 of Ihe 2006 Act other than any requirernenl that the accounts give a Irue and fairf view thich is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance wth the methods and principles of the Statement of Recommended Practice for accountiThJ and reporting by charFbes lapplicable lo charilies preparing their accounts in aeeord8nce wth the Financk41 Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 10211. I have no cOnrn$ and have come across no other matters in connection th the examnalion to which attention should be drawn in this report in order to enable a WOFer understanding of the )Unts to be reached. This repcKt is made scAely to the Compansls Trustees, as a body, in accordance th Part 4 of the Charits'es (Accounts and Reports) Regulats"ons 2008. My work has been undertaken so that I mNJhl slate to the Cofflpanls Trustees those matters l am required lo state to Ihem in an Independent examinerfs report and for no olher purpose. To the fullest exlent permffted by law. I do not accept or assume responsibility lo anyone other than the Company and the Companys Trustees as a body. for my work or for this report. Signed- Dated.. ulILlz1 Robert Stokes For and on behalf of Regulalory Audst FCCA, ACA Vicarage Court 160 Emiin Slreel, Swindon SN3 4NE Page 10
ThE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPOFiATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JULY 2021 Restricted Unrestricted funds funds 2021 2021 Total funds 2021 Total funds 2029 Note Income from: Donations and legacies Charitable activities Investments 343 374,453 20.904 220.899 22.524 220,899 22.524 Total income 243.423 243,423 395. 700 Expendire on: Charitable activities 359,289 359,289 482,521 Totsl expenditure 359.289 359.289 482.521 Net expenditure before net gainslllossesl on investments Net gainslllossesl on inveslments 1115.866) 115,603 1115.8661 115,603 (86.821) (6.249) Net movement in funds 1263) {2631 {93,070J Rgconclllation of funds: Total funds brought forward Nel movement in funds 760 650262 1263) 651.022 1263) 744,092 {93,070J Total funds carried forward 760 649,999 650,759 651,022 The Statement of Financial Activities includes all gains and losses reccgnised in the year. The nolas on pages 15 to 30 form pwi of these financial stalements. Page11
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA cornpany limited by guarantee) REGISTERED NUMBER: 08489497 BALANCE SHEET AS AT 31 JULY 2021 2021 2020 Flxed assets Tangible assets Investment5 10 2.483 787.144 8,019 721.541 789.627 729,560 Current asyts Debtors Cash at bank and in hand 12 7.236 56.799 2,217 78. 104 64.035 80.321 Creditors.. amounts falliro due wthin one year 13 1202.903) (118.859J Net current Ilabllllles 1138.868) (38.538) Total assets less current liabilities 650.759 691.022 Creditors.- amounls falling due after more than one year 14 (40,000) Net assets excluding pension asset 650,759 651,022 Total net assets 650.759 651,022 Charity fvnds Restricted funds Unrestricted funds 16 16 760 649.999 650,262 Total funds 650.759 651,022 The Company was entided lo exemption from audit under sectK)n 477 of the Companies Act 20(. The mefflbers have riot required ihe company to oblain an a111 for the ar in question in accordan wilh section 476 of Companies Act 2006. The Truslees ackn04d9e their reSF0nsII1ieS for complying with the requirements of the Act respect to accounting records and preparation of financial slat8ments. The financial statements have been prepared in accordance wjth the provisions applicable to entities subject to the small companies regime. Page 12
THE SUtHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) REGISTERED NUMBER: 08489497 BALANCE SHEET {CONTINUED) AS AT 31 JULY 2021 The financial slalemenls were aFproved and authori5ed for Issue by the Trustees on and signed on their behalf by_ /11 /2oZI MsCJEasty (Chair of Trustees) s B Moulang (Trustee) The notes on pages 15 10 30 fomi part of Ihese finanal stalemenls. Page 13
THE SiITHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2021 2021 2020 Cash flows frorn operating activities N81 cash used in operating activities {53.309) (119,988) Cash flows from investing activitie$ Dwidends, interests and renls from investments Purchase of tangible red assets Proceeds from sale of investments Purchase of investrnents 22.524 15201 50.000 20,904 (2, 789) 30,t%X) {100.000) Net cash provided byl{used inl investin9 activities 72.004 151,885) Cash flows from financing activities Cash inflows from new tx)rrovirYJ Repayments of borrowng 40.000 {40.0001 Net cash {u5ed inllprovided by financing activities 140,000) 40,000 Change In cash and cash equlvalents in the year Cash and cash equivalents al the beginning of the JEar 121.305) 78,104 1131.873) 209,977 Cash and cash 8quival•nts at th• end of the year 56,799 78.104 The notes on pages 15 to 30 form part of these finarla1 statements Page 14
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 General infomiation The Charitable Company. the Sutherland Cranial College of Osteopathy is a lirnited by guarantee company registered in England & Wales. The registered office is The Sile. 24 Chosen View Road, CheRenham, Glos GL51 9LT. The principal place of busness is Hawkwood Collge, Painswick Old Road, Stroud. Glos GL6 7AW. The presentab.onal company is Pound Sterling {£}. Accounting policles 2.1 8asis of preparatlon of financlal statements The financial slaternenls have en prepared in accordan wth the Charities SORP IFRS 102) - Accounting and Reporting by Charities= Slalemenl of Recommended Practice applicable lo charities preparing their accourts in accordance with the Financial Reporting Standard applicable in the UK and Republ of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Sutherland Cranial Clege of Osteopathy Limiled meets the definition of a public benefit entity under FRS 102. Assets and liabilthes are initially recognised al historical cost or transaction value unless otherwise stated in relevanl accountsThJ FM)Iy. 2.2 Going concern The Trusl*s are aware of the risks lo the Charitable Company and have been putting plans in place lo mitigate any risks. The course provision has been adapting to the changing environmenl and this has been used to eontrol costs. Whifst there remain unCertaintS thin the operating environment the Trustees considef that they are well placed lo move the provision and therefore the goiThJ concem basis remains appropriate. Page 15
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company Ilmlted by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Accountlng policies Icontlnued) 2.3 Income All income is recognised once the cnpanY has entilthent to the income, it is probable that the income will be received and the amount of income receNable can be measured reliably. Gifts in kind donated for distribution are included at valuation and recogni5ed as income when they are distributed lo the project5. Grfts donated for resale are included as income when they are sold. Where the donated good is a fixed asset. il is measured at fair value. unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donats.ons and a corresponding amount is included in the appropriate fixed asset class arvj depreciated over the useful economic life in accordance with the CompanWs accounling polie$. On receipt. donaied professional serviees and f8cilrties are recognised on the basis of the value of the gift lo the Company which is the amount r( would have been willing to pay to obtain services or facilities of equivalent economic benefrt on the open market,. a corresponding amount is then regnised in expenditure in the peric4J of receipl. Income tax r0Verable in relation to donakn'ons [erved under Gift Aid or dee(ts of covenant is recognised al the lime of the donation. Income lax recoverable in relation to investment income is recognised al the time the investment income is receivable. 2.4 Expendithre Expenditure is recognised once there ts a al or eonstruclive oblig8tion to transfer economic benefit lo a Ihird paty, rt is probable that a Iransfer of economic benefits wll be required in settlement and the amount of the obligation can be measured rdiably. Expenditure is classrfied by aelNity. The costs of each aclimty are made up of the tolal of direct cosls and shared costs, including support costs involved in undertaking each aclivity. Direct costs attributable to a single activtty are allocaled directly to that adivity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single actsvity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocaled on the basis of time spent. arKI depreciation char9es allocaled on the porbon of the asset's use. Expenditure on charitable acliwties is incurred on directly undertaking the activities lch further the Companys objectives, as well as any associated support Costs. Grants payable are charged in the Jear 7then the offer is made except in those eases where the offer is conditional. such grants being recognised as expendf(ure when the conditions attaching are fulfilled. Grants offered subject lo conditions wthich have not been met at the year erMI are noted as commitment. but not accnjed as expenditure. All expenditure is indusive of irrecoverable VAT. Page 16
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Accountsng pollcles Icontlnued) 2.5 Tangible fixed assets and depreclatlon Tangible fixed assets costing £NIL or more are captalised and recognised when future ewnomi benefits are probable and the cost or value of the asset can t measured lEably. Tangible fixed assets are initially recognised at cost. After recognition. under the cost model. tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairmenl losses. Al costs incurred to bring a tangible red asset into its interKled working Condition should be included in the measurement of cost. Depreciation is charged so as to allocate th8 cost of tsngible fixed assets less their residual value over their estimated useful lives, - DeFKecialion is prowded on the fol1ving basis: ant and machinery 25% on Cost 2.6 Investments Fixed asset investrnents are a form of financial instrument and are initialty recc3nised at their transaction cost and subsequently measured at fair value at the Balance sheet dale, unless the value cannot be measured reliably in which case it is measured al cost less impairment. Investment gains and losses. whether realised or unrealised. are combined and presented a5 'Gainsl{Losses} on investments. in Ihe Stsiement of financial activf(w. 2.7 Deblors Trade and other debtors are recognised at the settbement amount after any trade discount offered. PrepaentS are valLd at the amount prepaid nel of any trade discounts due. 2.8 Cash at bank and in hand Cash al bank and in hand indudes cash and slK)rt-lerm highly liquid invegtmenls wtth a short malurty of three months or less from the date of acquisition or opening of the ¢Jeposil or similar accounl. 2.9 Liabllilies and provisions Liabilities are recognised when the is an obligation at the Balance sheet date as a result of 8 past evenl, it is probable that a transfer of economic benefit wll be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are renised at the amounl that the Company antieipales rt will pay to settle the debt or the amount it has received a5 advanced payTnents for the goods or Ser$ il musl provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is malerial. the provision is based on the Present value of those amounts. discounted at the pre-tax discount rate thal reflects the risks specrfic to the lbilitY. The unwnding of the discount is recognised in the Statemenl of financial activitses as a finance cost. Page 17
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 A¢¢ountlng policies (continued) 2.10 Financial instrnments Company only has fnanaal assets and financial liabilities of a kiThJ that qualrfy as basic financial inslrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value wlh the exeeplion of bank loans which are subsequently measured at amortised cosl uwr4J the effective inleresl method. 2.11 Pensk)n$ Company operales a defined contribution nSIOn scheme and the pension charge represents the amounts payable by Ihe Company to the fund in respect of the year. 2.12 Fund accounting General funds are unreslrtcled lunds vthich are available for use al the discretion of the Trustees in furlherance of the general objectNes of the Company and which have not been designated for other purposes. Restricted funds are funds whieh are to be used in accordan with specific restrictions imposed by donors or vthich h8ve been raised by Ihe Company for particular purposes. The costs of raising and adminislering such funds are charged against the specific fund. The aim and use of each resth'cted furKI is sel OLrt in the notes to the financial ststements. Investment income. gains arml losses are alkKated to the appropriate fund. Income frorn donations and legacies Restricted funds 2021 Total funds 2021 Total fvnds 2020 Donations 343 Total 2020 343 343 Page 18
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limitod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 JULY 2021 Income from charitable activities Unrestricted funds 2021 Total funds 2021 Total funds 2020 Income fr( Charrtable actbvitses- Course and Membership Income 220.899 220.899 374.453 Total 2020 374.453 374,453 Investment income Unrestricted funds 2021 Total funds 2021 Tolal funds 2020 Investment income- other kncal unlisled 22.524 22.524 20,904 Totsl 2020 20,904 20,904 Analysis of expenditure by activities Activities undertaken directly 2021 Support costs Total funds 2021 2021 Course and Membership Income 187.559 171.730 359.289 Page 19
THE siwfHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A Company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 JULY 2021 Anatysis of expenditure by activlties qconllnuedl Activilies undertaken directly 2020 Support osts 2020 Tolal funds 2020 Course and Membership Income 318.768 163, 753 482,521 Anatysis of direct costs Course and Membership Incorne 2021 Tolal funds 2021 Total funds 2020 Course expenses Advertising and websile costs 176.309 11,250 176.309 11,250 304,206 14.562 187,559 187.559 318.768 Page 20
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Analysls of expendlture by activit*s (continued Analysis of 5UPPOrt costs Course and Membership Income 2021 Total funds 2021 Total funds 2020 Stsff costs Depreciation Rent,rates and service5 Insurance Telephone costs Printing, postage & stalicK)ary Sundries Repairs and maintenance Motor and travel Bank and credrf( charges Staff training Subscriptions Storage Computer expenses Exchanges (gainllloss Grant paid Charity supporl costs Govemanee Costs 74.138 6.056 9,375 2,501 634 1.723 10 83 74.138 6.056 9.375 2,501 634 1.723 10 83 81,625 5,926 5, 625 2,T18 617 1,070 334 132 2,969 9,OTO 1.260 360 4.389 (4.082J 7.305 1.838 11,571 1.321 430 4.029 6.290 1.838 11,571 1.321 430 4,029 6.290 11.040 40.692 11,040 40,692 44.435 171,731 171.731 Indepgndenl examingrfs remuneration 2021 2020 Fees payable lo the Compan$ independent examiner f the independent examination of the Cornpanls annual accounts Fees p8yable lo the cpanyS independent exwnirEr in resFect of: All other service5 not induded above 950 825 1,420 1,656 Page 21
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Staff costs 2021 2020 Wages and salaries Social security costs Contribution to defined contribution pension schemes 102.869 3.524 3.358 108, 034 3.997 5,207 109.751 117,238 The average number of persons emploJEd by the Company during the Far was as follows.. 2021 No. 2020 No. A(Jrninislration and finar Course Co-ordinati aThJ marketiThJ No employee recwved remuneration amounting lo rn0 than £60.000 in either Jpar. Trustees. remuneration and expenses During the year. no Trustees received any remuneration crf other benefrts (2020- £NIL). During the year ended 31 July 2021. expenses totall1 £1.442 were reimbursed or paid directly to Trustee (2020- £3.078 to Twsteej. 10. Tangible fix8d assets .Plant and machinery Cost or valuation At 1 August 2020 Additions 46.321 520 Al 31 July 2021 46.841 Page 22
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 10. Tangible fixed assets (continued Plant and machinery Depreciation At 1 August 2020 Charge for the ar 38,302 6,056 At 31 July 2021 44.358 Nel book value Al 31 July 2021 2.483 At 31 July 2020 8.019 11. Fixed asset investments Listed investments Cost or valuation At 1 August 2020 Disposals Revaluations 721.$41 150.000) 115.603 At 31 July 2021 787.144 Net book value At 31 July 2021 787.144 At31 July 2020 721,541 Page 23
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company Ilrnited by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 12. Debtors 2021 2020 Due wlthln one year Trade debtors Prepayments and accrued income 181 2,036 7.055 7.236 2.217 13. Creditors: Amounts falling due within one year 2021 2020 Trade creditors Other taxation and social security Accnjals and deferred income 19.422 1.337 182.144 6,997 1.353 110,509 202,903 It8,859 2021 2020 Deferred income ai 1 August 2020 Resources defened during the year 74,859 104,688 74,859 179.547 74.859 14. Creditors.. Arnounts falling due after more than one year 2021 2020 8ank loans Page 24
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 15. Flnanclal Instruments 2021 Flnancial assets Financial assets measured at fair value through 1me and expenditure 56.799 Financial assets measured at fair value through income and ex&Endilure comprise bank cash. Page 25
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limlted by guannteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 JULY 2021 16. Ststemenl of funds Statemenl of funds - current year Balance at 1 August 2020 Transfers inlout Gainsl Balance at (Losses} 31 July 2021 Income Expenditure Unrestricted funds General Funds- all funds Fixed asset 642.243 8.019 243.423 1353233 16,056) {520) 520 115.603 647.516 2,483 650.262 243.423 (359,289 115,603 649,999 Restricled funds Restricted Funds all funds 760 760 Total of funds 651.022 243,423 1359.289) 115,603 650.759 Page 26
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 16. Stalement of funds (continued) ststement of funds- prlor year Balance at l August 2019 Gain Balance al (Losses) 31 July 2020 Income Exrenditur8 Unrestricted funds General Funds- all funds Fixed asset 732.519 11,156 392,568 2,789 (476,595) (5,926) (6,249) 642,243 8,019 743,675 395.357 (482.521) (6,249) 650.262 Reslricted ndS Restricted FuThJs- all funds 417 343 760 Total of funds 744,092 395.700 (482,521) (6.249) 651.022 17. Summary offunds Summary of funds- current year Balan at 1 August 2020 Transfers inlout Gainsl Balancg at (Losses) 31 July 2021 Income Expenditure General funds 650.262 760 243.423 {359289) 115.603 649,999 760 Restricted fund5 651,022 243,423 1359,289) 115.603 650,759 Page 27
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company lifflited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 17. Summary offunds (continued) Summary of fvnds - prior year Balance al 1 Augusl 2019 Gains/ Balance at (Losses) 31 July 2020 Income Expendilu General funds Restricted funds 743.675 417 395.357 343 (482.521) (6,249) 650. 262 760 744,092 395, Ttxl (482.521) (6,249) 651.022 18. Anatysis of net assets bet¥¥een funds Anatysis of n•t assets between funds - current year Restricted Unre$tricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one sEar 2.483 787.144 63.275 1202.903) 2A83 787.144 64.035 (202,9031 760 Total 760 649.999 650,759 Analysis ol net assets between funds - prior year Restn¢led Unrestlicted funds funds 2020 2020 Total funds 2020 Tangible fixed assets Fixed asset investrnents Current assels Creditors due within ¢)ne ypar Creditors due in more than one 8,019 721.541 79.561 (118.859) (40,000) 8.019 721.54t 80.321 (118,859) (40.000) 760 Total 760 650.262 651.022 Page 28
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 19. Reconciliation of net movement in funds to net cash flow from operating activities 2021 2020 Net expenditure for the year (as Statement of Financial Activities) 1263} f93.070J Adjustments for. Depfecialion charges Gainslllossesl on investments Dividend5. interests and rents from investments Increase in debtors Increasel{decreasel in crethtors 6.056 (115.6031 122.524} (5.0191 84.044 5,926 6.249 (20,904) (907) (17.282) Net cash used in operating activities {53.3091 {7 19,988) Analysis of cash and cash equivalents 2021 2020 Cash in hand 56.799 78, 104 Totsl $h and cash equivalents 56.799 78, 104 21. Analysis of Changes In net debt At 1 August 2020 Cash flows At 31 July 2021 Cash at bank and in hand 78,104 (40.000) 121,305) 40.000 56.799 Debt due after 1 year 38.104 18.695 56.799 Pension commitments The group operates a defined contribution penSn scheme. The assets of the scheme are held separately from those of the group in an indeperKJenlly administered fund. The pension cost charge represents contributions payable by the group to the fund and amounled lo £nil12020 - £nill were Paable to the fund at the balance sheet dale and are included in eredrtors. Page 29
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMrrED (A company limited by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Pension comrnilrnents {continued) 23. Members. liability Each member of the charitable company uThJerlakes lo contribute to the assels of the company in the evenl of it being wound up lIe helshe is a member. or within one year after helshe ceases lo be a member, such amount as may be required. not exceeding £10 for the debls and liabilities contracted before helshe ceases to be a member. 24. Related party transactions The Trustees are qualified lulors who are used to deliver some of the courses. They are femuneraled for the course delivery and for expenses at the same rate as the other course tutors. Page 30