Registered number: 08489497 Charity number: 1152353 Sutherland Cranial College OF OSTEOPATHY THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) CONTENTS Page Reference and administrative detsils of the Company. its Trustees and advisers Trustees, report Independent examinerfs report Statement of financial acttvities 2-11 12-13 14 Balance sheet 15-16 statement of cash flows 17 Notes to the financial statements 18-32
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024 Trustees Ms A Bennett. Tnjstee (appointed 1 December 2023) Mr D Pontin. Trustee Ms L Griggs, Trustee Ms S Tumer, Trustee (resigned 1 December 2023) Mr N Hayden, Trustee Ms B Moulang, Trustee Ms C J Easty, Trustee Mr M Harris, Twsteo Mr P Lamersdorf, Trustee Ms K Brewster. Trustee Cofflpany registered number 08489497 Charity registered number 1152353 Reglstered office The Site 24 Chosen View Road Cheltenham England GL519LT Chlef executive officer Mr5 S M4or Independent Examiners Regulatory Audit Vicarage Court 160 Emiin Street Swindon Willshire SN3 4NE Bankers Barclays Bank PIC Beaufort Square Chepstow Monmouthshire NP16 5XL Page 1
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 JULY 2024 The Trustees present their annual report together wrth the financial statements of the Company for the year 1 August 2023 to 31 July 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply wtth the current statutory requirements, the requirements of the charitable company's goveming document and the provisions of the Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 (effective 1 January 2019). Since the Company qualtfies as small under section 382 of the Companies Act 2006, the Stiategic report required of medium and large companies under the Companies Act 2006 {Strategic Report and Directors, Report} Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The Trustees have considered the Charity Commission's guidance on Public Benefft along with their duty in respect of section 17(5) of the Chartties Act 2011 in respect of Public Benefrt and whilst needing to manage its finances responsibly and effectNely. In 2023124. the SLrtherfand Cranial College of Osteopathy Limited (SCCO) reviewed its various policies in place to help students afford ¢our5es. Thirty three £250 bursaries were awarded to new graduates who attended Module 2 courses in 23124 in the UK, a total of £8,250. £5.500 was awarded in bursaries to 22 new graduates in Gemiany who attended Module 2 courses. A total fund of £3,494 was made available to SCCO Fellows and Members allowing them to receive a 25 % reduction in the cost of any previously attended Pathway course, to encourage our Fellowship to revistt and update their knowledge alongside our newer students. Six ne¥V Scholarships were awarded in 2023124 in both the UK and Germany £2,250 in total. Applications for Scholarship5 increased in 2023r24. A total of £34,423 {£36,095 in 22r23) bein9 made available to students to assist with course fees. In 2023124 The SCCO provided £1,680 of support to Faculty Development and The Osteopathy Education and Assistant Tutor Scheme, and the further development of our Course Directors. The SCCO has continued to recognise the achievements of new graduates through the sponsorship of the Rising Star Awards at the virtual Instrtute of Osteopathy Convention. In 2023r24 The SCCO invested in a programme of online CPD training to provide our Faculty with comprehensive package of online training courses. b. Strategies for achieving objectives The objectives of the SCCO are to advance the further education and training of graduates and undergraduates and persons otherwise qualrfied in osteopathy, medicine, dentistry and related arts and sciences. In particular (but without prejudice to the generality of the foregoing) by promoting and teaching the principles of osteopathy as conceived by Andrew Taylor Still and developed by William Gamer Sutherland. disseminating a general knowledge of the philosophy of the therapeutic indications for osteopathy in the cranial field, encouraging physicians and stimulating continued study for greater proficiency in the practice of osteopathy in any manner con5ideied appropriate in the absolute discretion of the Trustees. Page 2
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Objectives and aGtlvities (continued) c. Activities undertaken to achieve objectives The activities undertaken in 2023r24 in support of its objectives include running 25 postgraduate courses across the UK and in GenanY and a faculty development weekend. The course programme retumed to pre pandemic levels in 2023124 Student numbers were back to pre-pandemic levels and many of the pathway courses were oversubscribed and requires a waiting list Unfortunately. it was not possible to retum to delivering courses in Spain, as thero were insufficient students to make courses viable. The SCCO continued to promote principles of cranial osteopathy at a time when there is a global economic downturn. The SCCO has historicalty provided financial support for research activtiies into osteopathy in the cranial field" in 2023124 The SCCO allocated £5.000 {2022r23'. £5,800) to support research activities. Achievements and perforniance a. Main achievements of the Company The SCCO continues to advance further education needs of graduate osteopaths, fulfilling the need by the development of a pathway of leaming, leading to posl graduate qualifications in osteopathy in the cranial field. This combined wrth the further provision of short courses and the Pediatric Osteopathic Diplomas programme has advanced osteopathic education and providing Continuing Profession Development for qualified osteopaths. The charivs funds have been consistently applied in furthering these charitable activities. Page 3
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Achievements and performance (continued) b. Key perfomiance indicators The Trustees meet once a year to plan and review the activrties within the strategic plan and agree key performance indicators {KPls) by vthich perfomiance against its strategic objectives can be measured. KPIS are set to measure performance in four areas.. our customers (students and members), our people {Trustees, faculty and staffj, finance and govemance, and marketing. communications and research. performan against the KPI targets is reviewed at each of the four Tru5lees meeting5 a year, alongside the CEO'5 report against compliance with key legal and regulatory requirements for the educational and charitable sector. Trustees approve the annual budget at the start of each year, and throughout the year, financial perfomiance is monitored against this and compared to income and expenditure for the previous year. KPIS for 2023r24 were set against the background of continued recovery froTn the pandernic, and courses were able to resume and retum to pre pandemic levels. Several cancelled courses were also reinstated alongside courses that were already in the calendar. The KPI for the number of courses (target 23. achieved 25) was met, however the KPI for student numbers was exceeded ltsrget 600. achieved 708) However. financial performance within the quartedy proje¢tion5 for income were not achieved in all quarters. The increased costs of delivering courses and the global economic downtum sUlted in a small income over expenditure deficit. This is a result of increased venue hire costs and travel claims exceeding forecasts. The SCCO did invest in new equipment in 2023r24. which has increased the value of the company assets. New equipment included new treatment couches and new model skulls for teaching purposes. Targels for membership (target 650 achieved 743) and Fellows (target 150 achieved 177) were all exceeded. The 900/0 target for good or excellent student satisfaction in UK student feedback suNeys was exceeded with 98.1 Ok of students rats'ng the courses excellent or good. and all Gennan individual courses exceeding the targel of 900A being rated good or excellent. 2 UK courses fell below the target at 860A and 780 4.480h of financial reserves awarded in respect for student support against a target of 4.5-5.50 Overall. the number of students studying wtth the SCCO for the first time as a percentage of overall students who attended courses in the year fell again to 12°A {160h in 2022123) against a target of 300A. This is a reflection of the global economi¢ downturn. Page 4
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarnntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Achievements and performance (continued) c. Factors relevant to achieve objectlves The SCCO ran 25 courses last year, the same number as in 2022r23 but the SCCO'S KPI target is to run 23 courses or more in an academic year. The SCCO delivered four Short courses alongside rts pathway courses; the aims of the short courses are to provide addbtional CPD opportunities for SCCO Fellows and Faculty. The AGM was attended by the required number of members to be quorate. One new Trustees was voted on to the Board by the membership. The SCCO has continued its visrts to undergraduate colleges to promote the college's postgraduate course programme. In 2023r24 The SCCO was also able to delNer a Faculty Development activty for Gennan Faculty, d. Investment policy and perfomiance The Trustees consider it their responsibilty to ensure that the CharItS reserves are protected and that surplus funds are invested within a fund who's social and ethical policies mirrof those of the Charity. On this basis, the Charity invests any surplus funds wthin the COIF Charities Investment Fund Income Units. In the year ending July 2024, the SCCO sold shares from the investment fun and drew down £30,000. The value of the investments on 31 Juty 2024 was £731,750 (2023.. £702,960).This indicates an improvement in the value of the investment portfolio ft)mi the previous year. This has resulied in a yield of 3.1 0 (2022123". 2.9 /0 Page 5
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarnntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Flnanclal revlew . Going concem As the SCCO continues to recover from the effects of the pandemic the course programme for 2024125 will deliver 23. Some courses are already oversubscribed and have a waiting list. Feedback confirms that the college is meeting the standards expected by its students. The SCCO continues to hold appropriate reserves. As a consequence of increases in costs the SCCO will Gontinue lo review its financial strategy ensuring that there are sufficient funds for the SCCO to continue to operate for the foreseeable future and to continue to support its charitable aims. b. Reserves policy It is the policy of the charty to maintain unrestricted funds, which are free reserves of the charity, at a level, which equates to no less than approximately one year of general overhead expenditure, which Is currently £180,000 after the costs of course provision. This provides sufficient funds to cover management and administration and support costs. Our reserves also provide a contingency fund of £50,000 to cover redundancy and cancellation contracts rf for any reason we are unable to continue to operate allowing us to meet any current and ongoing liabilrtie5. As operational costs have increased over the last two years, Trustees will review the level of reseNes to be managed for 2024125. In 2024125, the chanty has commiited to investing surplus into charrtable support and bursaries for eligible students including fts Fellry¥VS. development of its Faculty, and funding of osteopathic research. We are predicting an operational deficit budget for 2024r25 of £165,700. The remaining unrestricted funds are held for the funding of future developments and the continued implementation of the educational review. Total funds at the year-end were: Restricted - £850 Unrestricted £644,925 Page 6
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company Ilmited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 . Principal risks and uncertainties The Trustees have a duty to identfy and review the risks to which the charity is exposed. The College risk register is remewed and updated as necessary at each Trustees meeting to ensure that appropriate controls are in place to provide reasonable assurance against a variety of risks. The key risks to be managed are. Financial, Governance Reputational Operational Achieving charitsble objectives. Financial Risks: The key financial risks is that of ensuring that the Charity is able to continue to operate as a sustainable going concern. Rising costs and the extemal economic climate has resulted in an operating deficit in 2023124. Trustees are committed to a root and branch rewew of costs, pricing and operating model to ensure that the Charity adapts to this more challenging environment. A review will be undertaken during the first hvo quarters of 2024125. Governance Risks: The Trustees continue to assess perfomiance against each of the 7 areas of the Charities Commission Govemance Code. With an evolving extemal environment that presents both challenges and opportunities, the Trustees have committed to a review and update of the Govemance framework in order to ensure ongoing compliance. This will be completed by the end of the second quarter of 2024125. The key govemance risks are loss of recognition by the regulator GOSC. this is mitigated by a continuing programme of review of our courses against the regulators standards. Breach of applicable tegal requirements. this is mitigated by engaging appropriate advice in the construction and application of our policies and procedures Reputational Risks: The key reputational risk is that of losing the Charrties excellent reputstion. This is mitigated by a combination of our culture, fostering and maintaining good relationships key stakeholders, recruiting and investing in our pecyle. Operational Risks.. The key operational risks are aSslated with capacty and capabilty to achieve our strategic objectives. This is mitigated by Attracting and retaining key employed personnel vla our culture, adopting flexible yet productive working policies. Continued investment in the Assistsnt Tutor Scheme and the Osteopathic Education Programme, which continues to train Fellows to become members of Faculty. The SCCO has also pledged to ensure that our Faculty are remunefated adequately for the work they do for the College. Page 7
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarnntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Achieving Charitable Objectlves". The key risk to achieving our charitable objectives is a combination of the Financial, Governance, Reputational and Operational risks identrfied and mrtigated above. d. PrincÉpal funding The principal source of funding for the chanty is the student fee income. It also has a paid for Membership and Fellowship scheme for osteopaths who suSsfUllY complete qUalI.ng courses and case study assignments. The financial statements have been prepared for the year ended 31 Juty 2024. Investment dividends produced income of £20,026. Market led increases also led to an unrealised gain of £58.790. The SCCO were very grateful to receive a £S0.000 donation to its funds from The crucib Foundation. There has been a net movement in fvnds of £33.433. bringing the total value of the net funds to £645,775. This is made up of fixed assets of the College £742.202, an increase in value of £25,834 from 2022123, current assets of £83.339 and increase of £44,687 but an increase in cuent liabiliiies of £37,088 to a total of £179,766. Structurei governance and management . Constitution The Suiherland Cranial College of Osteopathy Limited is registered as a charitable Gotnpany limited by guarantee and was set up by a Trust deed on 10 June 2013. The charity is constituted under a Trust deed dated 10 June 2013 arKI is a registered charity number 1152353. The charity Nvas incorporated on 15 April 2013 and commenced trading on that date. b. Methods of appointment or election of Trustees Under the constitution, the charity shall elect from its membership a Board of Directors, known as the Board of Trustees of between three and ten members. The directors shall hold office until the conclusion of their term of office, vthich is three years after their election. They may then stand for re election for a further three years. Exceptionally a director may be re elected for one further year beyond a six year tenn rf sepiing as Chair of the Board. New Trustees are provided with copies of the SCCO constitution, previous Trustee meeting minutes, and a set of Charity Cornmission documents on the Role of a Trustee. and are required to complete a register of any interests or loyatties which may conflict them in their role. c. Organisational structure and decision-making policies The charty is a membership organisation which delegates authority to an elected Board of Trustees. The Trustees are responsible for strategy and approval and monttoring of annual budgets and business plans. Course content and qualty is delegated to an Education Commrtiee. who also make recommendations for the selection 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 committee5 for Communications and for delivery in Germany and Spain. The Board of Trustees are supported by a small staff team whiGh has authority delegated to it for logistical planning and delivery of courses, marketing and financial operation up to a limit of £1,500 after which Treasurer approval is required. Page 8
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guardntee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Structure, governance and management (continued) d. Policies adopted for the induction and training of Trustees The SCCO has adopted a policy of Equalty, Diversty and Inclusion training for all existing and newly appointed Trustees. The SCCO ha5 a policy for the conflict of interests and decFaration of interests for all existing and newly appointed Trustees. When a new Trustee is elected they are issued with the Articles of Association document. the SCCO Constitution, the SCCO Mission Statement and Vision Statement. The SCCO will support new Trustees by implementing a °buddy system. with existing Trustees. During 2024125 TTUStees will introduce a structured Trustee InductH)n pack as part of its revised Governan Framework. e. Pay policy for key management personnel The SCCO management pay policy is to pay more than the Ir¥ing wage for all staff posts, to benchmark pay for equivalent posts locally and nationally. f. Related party relationships Related parties relats'onships a isolated to Trustees who are also qualffied tutors who are used to deliver some ofthe Courses. They are remunerated for the course delivery and for expenses at the same rate as the other course tutors and at times, opt to donate their reimbursed expenses back to the charty. g. Financial risk management The global economic downtum has a potential to effect the income of the SCCO. The SCCO will continue to provide support to students in the form of Scholarships and Bursaries to help with the costs of course fees. The Trustees are committed to reviewing the performance of the investment account and identifying potential risks to the investments. The Trustees remew the budget at each quarters Trustee meeting and financial perfornance is measured against forecast. The SCCO has a policy to maintain unrestricted funds, which are free reserves of the charity, at a level at which equates to no les5 than approximatety one year of general overhead expenditure which is currently £180,000. This provides sufficient funds to cover management and administration and support costs. The reserves also provide a contingency fund to cover redundancy and cancellation contracts rf for any reason the SCCO are unable to continue to operate allowing any current and ongoing liabilities to be met. Any operational costs over the value of £3,000 must have the approval of the Treasurer to avoid any misappropriation of funds. Debit cards and paent authority is limited to the CEO and Finance As3iStant only. The SCCO also regularly reviews its financial position with ts appointed Accountants. Page 9
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Structure. govemance and management (continued) h. Trustees. indemnities Trustees are indemnified through a specialist policy with Angel Risk Management and underwritten by AXA. l. Dissolution and transfer The Suthedand Cranial College of Osteopathy (SCCO) is a Charttable Company Limited by Guarantee, incorporated in April 2013 and receiving charitable registration in June 2013. There is provision within the Articles of Association. at article 60, that should it be necessary to dissolve the charity, that its assets after paent of debts and liabilities shall be transferred to another charitable institution with similar objects to the SCCO. Plans for future periods The program for 2024125 is full. with 23 events, these include. Pathway courses, a programme of short courses, and Workshops. The Osteopathic Education Scheme will have an intemational event that will bring together Assistant Tutors and potential Faculty from both the UK and Europe. The Children's clin (The Dove Clinic). will conclude as a pilot and will require an evaluation to determine if this initiative should continue The Administration staff Yitll continue working with an educational technolo9iSt to roll out implementation of a Virtual Learning Environment. Trustees will introduce more regular strategic planning and review work to ensu that the SCCO positions itself within a changing marketplace. This will be combined wrth a revised govemance framework and associated structures, policies, processes to 5UPPOrt efficient and effective delivery of its charitable objectives. Members. liability The Members of the Company guardntee to contribute an amount not exceeding £1 to the assets of the Company in the event ofwinding up. Page 10
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 statement of Trustees. responsibilities The Trustees (who are also the directors of the Company for the Purposes of company law) are responsible for preparing the Trustees. report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generalfy Accepted Accounting Practice). Company law requires the Trustees to prepare financial statement5 for each financial . Under company law, the Trustees must not 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 its incoming resources and application of resources, Including its income and expenditure, 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 of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards (FRS 102) 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 Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 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 30 November 2024 and signed on their behalf by.. MSCJE rustee) Page11
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2024 Independent Examinerfs Report to the Trustees of The Sutherland Cranial College of Osteopathy Limited {Ihe Company.) I report to the chaiity Trustees on my eqMInatIon of the account5 of the Company for the year ended 31 July 2024. Responsibilities and Basis of Report As the Trustees of the Company (and 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 the Companls accounts carried out under sedion 145 of the Charities Act 2011 (Ihe 2011 Act,). In carying out my examination I have followed the Directions grven by the Charty Commission under section 145{5)(b) of the 2011 Act. Independent Examinerfs Statement Since the Companls gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualffied to undertake the examination because l am a member of (enter body here). 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.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records.. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Ad other than any requirement that the accounts give a Irue and fairf view which is not a matter considered as part of an independent examination; or 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 lapplicable to chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 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. This report is made solely to the Companws Trustees. as a bcrfjy, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Companvs Trustees those matters l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent pemitted by law, I do not accept or assume responsibility to anyone other than the Company and the Companls Trustees as a body. for my work or for this report. Page 12
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Signed: Dated: 3 February 2025 Robert stokes For and on behalf of Regulatory Audrt FCCA, ACA Vicarage Court 160 Enin Street, Swindon SN3 4NE Page 13
THE sufHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024 Restricted Unrestricted fvnds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments 50,520 690.184 20,026 50.520 690,184 20.026 50,300 597. 842 20,363 Total income 760.730 760,730 668,505 Expenditure on: Charitable activities 786,087 786,087 698, 645 Total expenditure 786,087 786,087 698, 645 Net expenditure before net gains on investments Net gains on inveslments (25,357) 58,790 {25,357) 58,790 (30, 140) 21,327 Net movement in funds 33,433 33,433 (8,813) Reconclliation of funds: Total funds brought foThvard Net movement in funds 850 611.492 33,433 612.342 33,433 621, 155 (8,813) Totsl funds carried forward 850 644,925 645,n5 612,342 The Ststement of Financial Actiwties includes all gains and losses recognised in the year. The notes on pages 18 to 32 fomi part of these financial statements. Page 14
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED IA company limited by guarantee) REGISTERED NUMBER: 08489497 BALANCE SHEET AS AT 31 JULY 2024 2024 2023 Note Fixed assets Tangible assets Investments 10 11 10,452 731,750 13,408 702,960 742,202 716,368 Current assets Debtors Cash at bank and in hand 12 6,248 TT,091 8,094 30, 558 83.339 38. 652 Creditors.. amounts falling due within one year 13 (179.7661 (142,678) Net current liabilities (96,427) (104,026) Total assets less current liabilities 645.775 612,342 Net assets excluding pension asset 645.775 612,342 Total net assets 645,775 612,342 Charity funds Restricted funds Unrestricted funds 15 15 850 644.925 850 611,492 Total funds 645.775 612,342 The Company was entitled to exernption from audit under section 4TT of the CompanTres Act 2006. The members have not required the company to obtsin an audrt for the year in question in accordance wrth section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entitie5 subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Page 15
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) REGISTERED NUMBER: 08489497 BALANCE SHEET (CONTINUED) AS AT 31 JULY 2024 Easty Moulang (Trustee) Date.. 30 Novem The notes on pages 18 to 32 fotm part of these financial statements. Page 16
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024 2024 2023 Cash flows from operating activities Net cash used in operating activrttes 19,568 (9, 803) Cash flows from investing activities Purchase of tangible fixed assets Proceeds from sale of investments (3,035) 30,000 (12, 147) Net cash provided byl(used in) investing activities 26,965 (12,147) Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 46,533 (21,950) 52.508 30,558 Cash and Gash equivalents at the end of the year 77.091 30,558 The notes on pages 18 to 32 form part of these financial statements Page 17
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 General Information The Charitable Company. the Sutherland Cranial College of Osteopathy is a limited by guarantee company registered in England & Wales. The registered office is The Siie, 24 Chosen View Road, Chettenham, Glos GL519LT. The principal place of business is Hawkwood College, Painswick Old Road, Stroud, GL6 7QW. The presentational currency of these financial statements is pound sterling, rounded to the nearest whole number. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Sutherland Cranial College of Osteopathy Limited meets the definrtion of a public benefit entty under FRS 102. Assets and liabiltties are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The Trustees are aware of the risks to the Charitable Company and have been putting plans in place to mitigate any risks. The ¢our5e provision has been adapting to the changing environment and this has been used to control Costs. Whilst there femain uncertainties within the operating environment the Trustees consider that they are well placed to move the provision and therefore the going concem basis remains appropriate. Page 18
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accounting policies (continued) 2.3 Income All income is recognised once the Company ha5 entitlement to the income, tt is probable that the income will be received and the amount of income re1vable can be measured reliably. Grfts in kind donated for distribution are included at valuation and recognised as income vthen they are distnbuted to the projects. Grfts donated for resale are included as income vthen they are sold. Where the donated good is a fixed asset. it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the r(em to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Company's accounting policies. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equlvant economic benefit on the open market; a coespOndIng amount is then recognised in expenditure in the period of receipt. Income tsx recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 2.4 Expenditure Expenditure is regnised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs Invo8d in undertaking oach activity. Dir8Ct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribLrte to more than one activty and support costs which are not attributsble to a single adivty are apportioned between those activities on a basis consistent with the use of resou$. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the poOn of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Companys objective5, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional. such grants being recognised as expendf(ure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commrtment. but not accrued as expenditure. All expenditure is inclusive of itrecoverable VAT. Page 19
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accounting policies (continued) 2.5 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impainnent losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cosL Depreciation is Charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis: Plant and machinery 25°A on cost 2.6 Investments Fixed asset investrnents are a fom of financial instrument and are initially recognised at their Iransaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'Gainsl{Losses} on investments, in the Statement of financial activities. 2.7 Debtors Trade and other debtofs are recognised at the settlement amount after any trade discount offered. PrePanentS are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-tenn highty liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefft will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it V11 pay to settle the debt or the amount rt has received as advanced payments for the goods or services it must provide. Pro¥isions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. Page 20
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accounting policies (continued) 2.10 Financial instruments The Company onty has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic ffinancial instruments are inttially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Pensions The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. 2.12 Fund accounting General funds are unrestricted funds which aro availablo for use at the discretion of the Truslee5 in furtherance of the general objectives of the Company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance wtth specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specffic fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income. gain5 and losses are allocated to the appropriate fund. Income from donatlons and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations 50,520 50,520 .300 Total 2023 50,300 50,300 Page 21
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Course and Membership Income 690.184 690,184 597, 842 Total 2023 597,842 597, 842 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income 20,026 20,026 20,363 Total 2023 20, 363 20,363 Anatysis of expenditure by activities Activities undertaken directty 2024 Support costs 2024 Total funds 2024 Course and Membership Income 610,462 175,625 786,087 Actwities undertaken direcuy 2023 Support costs 2023 Total funds 2023 Course and Membership Income 517,348 181,297 698.645 Page 22
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Anatysis of expenditure by activilies (continued) Anatysis of direct costs Course and Membership Income 2024 Total funds 2024 Total funds 2023 Course expenses Advertising and website Costs Scholarships & bursaries awarded 559,402 16,637 34,423 559,402 16,637 34A23 462.978 18,275 36, 095 610,462 610,462 517,348 Page 23
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Analysis of expenditure by activities (continued) Anatysis of support costs Course and Membership Income 2024 Total funds 2024 Total funds 2023 Staff costs Depreciation Rent,rates and services Insurance Telephone Gosts Printing, postage & stationary Sundries Repairs and maintenance Bank and credit charge5 Staff training Subscriptions Storage Computer expenses Exchanges {gain)Iloss Research grant expendrture Governance costs 85,651 5.991 11.700 3,003 1,718 1,917 106 85.651 5.991 11.700 3.003 1,718 1,917 106 101,060 5,250 7, 775 2, 944 1,205 1,837 677 2, 796 2, 885 319 1,246 1.895 (1, 733) 5,800 47.341 4.704 10,641 454 4,704 10,641 897 4,737 1,252 897 4,737 1,252 42,769 42,769 175,624 175,624 781,291 Independent examinevs remuneration 2024 2023 Fees payable to the Company'5 independent examiner for the independent examination of the Companys annual accounts Fees payable to the Compansls independent examiner in respect ot. All other services not included above 1,100 950 4,200 1,565 Page 24
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 110,734 4,479 5,285 123, 620 5, 167 7,377 120,498 136, 164 The average number of persons employed by the Company during the year was as follows: 2024 2023 No. Administration and finance Course c(>ordination and marketing No employee received remuneration amounting to more than £60,000 in either year. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other beneffts (2023- £NIL). During the year ended 31 July 2024, expenses totalling £1.640 were reimbursed or paid directty to 4 Trustees (2023- £4,621 to 4 Twstees). 10. Tangible fixed assets Plant and machinery Cost or valuation At 1 August 2023 Additions 67,397 3,035 At 31 July 2024 70,432 Page 25
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 10. Tangible fixed assets (continued) Plant and machinery Depreciation At 1 August 2023 Charge for the year 53,989 5,991 At 31 July 2024 59,980 Net book value At 31 July 2024 10,452 At 31 July 2023 13,408 11. Fixed asset investments Listed investments Cost or valuation At 1 August 2023 Disposals Revaluations 702,960 (30,000) 58,790 At 31 Juty 2024 731,750 Net book value At 31 July 2024 731,750 At 31 July 2023 702,960 Page 26
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 12. Debtors 2024 2023 Due within one year Trade debtors Other debtors Prepayments and accrued income 4,132 1,556 $60 55 1,168 6,871 6.248 8,094 13. Creditors: Amounts falling due within one year 2024 2023 Trade credrtors other taxation and social securty Accruals and deferred income 68,691 1,681 109,394 23,473 117,647 179.766 142.678 2024 2023 Deferred income at 1 August 2023 Resources deferred during the year Amounts released from preifjous periods 113,722 101,350 {113.722) 88,506 113, 722 (88,5Q6) 101,350 113.722 14. Flnancial instruments 2024 Financial assets Financial assets measured at fair value through income and expendrture 808,841 Financial assets measured at fair value through income and expendrture comprise bank and cash. Page 27
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 15. Statement of funds statement of funds - current year Balance at 1 August 2023 Gainsl Balance at (Losses) 31 July 2024 Income Expenditure Unrestricted funds General Funds - all funds 611,492 726,307 (751,664) 58,790 644,925 Restricted funds Restricted Funds - all furKIs 850 Total of funds 612,342 726.307 {751,664) 58,790 645,775 Page 28
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 15. Statement of funds (continued) Statement of funds - prlor year Balance al 1 Augusl 2022 Gainsl Balan at (Losses) 31 July 2023 Income Expenditu Unrestricted funds General Funds - all fund5 620,305 668.505 (698,645) 21,327 611,492 Restricted funds Restricted Funds - all funds 850 Total of funds 621, 155 668,5 (698,645) 21,327 612,342 16. Summary of funds Summary of funds - current year Balance at 1 August 2023 Gainsl Balance at (Losses) 31 July 2024 Income Expenditure General funds Restricted funds 611,492 726.307 {751,664) 58,790 644,925 850 612,342 726,307 (751,664 58,790 645,775 Summary offunds - prior year Balan al 1 August 2022 Gainsl Balan at (Losses) 31 July 2023 Income Expgnditure General funds Restricted funds 620.305 668,505 (698,645) 21,327 611,492 850 621, 155 668,&)5 (698, 645) 21,327 612,342 Page 29
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY UMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 17. Analysis of net assets between funds Analysls of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Cuent assets Creditors due within one year 10,452 10,452 731.750 731,750 81,183 82.033 (178,461) {178,460) 850 Total 850 644,925 645,775 Analysis of net assets between funds - prior perfod Restiicted Unrestricted fvnds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investment5 Current assets Creditors due within one year 13,408 702, 960 37,802 (142. 678) 13,408 702,960 38, 652 (142,678) Total 850 611.493 612,343 Page 30
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 18. Reconciliation of net movement in funds to net cash flow from operntlng activities 2024 2023 Net incomelexpenditure for the period (as per Statement of Financial Activits-es) 33.433 (8,813) Adjustments for: Depreciation charges Dividends, interests and rents from invesbnents Decrease in debtors Increase in creditors 5,991 (58.790 1,983 36,951 5.250 (21,327) 14,283 Not cash provided byllusod in) operating activitie5 19.568 (9,803) 19. Analysis of cash and cash equivalents 2024 2023 Cash in hand 77.091 30,558 Total cash and cash equivalents 77,091 30.558 20. Analysis of changes in net debt At 1 August 2023 Cash flows At 31 July 2024 Cash at bank and in hand 46,533 77,091 30.SS8 46,533 T7.091 21. Pension commitinents The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independenty administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £nil (2023 - £nil) were payable to the fund at the balan sheet date and are included in creditors. Page 31
THE SUTHERLAND CRANIAL COLLEGE OF OSTEOPATHY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 22. Members. liability Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while helshe is a member, or within one year after helshe aSeS to be member, such amount as may be required. not exceeding £10 for the debt5 and liabilities contracted before helshe ceases to be a member. 23. Related party transactions The Trustees are qualified tutors who are used to deliver some of the courses. They are remunerated for the course delivery and for expenses at the same rate as the other course tutors. Page 32