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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|11|
|Report ofthe Independent
Auditors|12|to|15|
|Statement ofFinancial Activities||16||
|Balance Sheet||17||
|Cash Flow Statement||18||
|Notes tothe Cash Flow Statement||19||
|Notes to the Financial Statements|20|to|29|
|Detailed Statement ofFinancial Activities||30||
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|||STATEME
for the|NT OF FINANCIAL ACTIVIT
en
d
1D cember 2|IES
21||
|---|---|---|---|---|---|
|||||2021|2020|
|||||Unrestricted|Total|
|||||fund|funds|
|||Notes||E|E|
|INCOME AND ENDOWMENTS FROM||||||
|Donations and legacies||||76,987|86,857|
|Charitable activities||||||
|Journal ofPathology||||818,290|860,340|
|Meetings and Events||||73,925|24,600|
|Investment
income||||184,034|196,957|
|Total||||1,153,236|1,168,754|
|EXPENDITURE ON||||||
|Raising funds||||||
|Investment
management|costs|||30,658|30,457|
|||||30,658|30,457|
|Charitable
activities||||||
|Journal ofPathology||||149,595|144,780|
|Grants and Award payable||||1,134,298|744,872|
|Meetings and Events||||222,186|157,006|
|Total||||1,536,737|1,077,115|
|Net gains/(losses)
on investments||||741,873|~73.197|
|NET INCOME||||358,372|19,442|
|RECONCILIATION
OF FUNDS||||||
|Total funds brought forward||||8,338,027|8,318,585|
|TOTAL FUNDS CARRIED|FORWARD|||8,696,399|8,338,027|
|CONTINUING
OPERATIONS||||||
|All income and expenditure||has arisen from continuing|activities.|||
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||BALANCE|SHEET|||
|---|---|---|---|---|
||31Decem|r2 21|||
||||2021|2020|
||||Total|Total|
||||funds|funds|
|FIXEDASSETS|Notes||6||
|Tangible assets
Investments|13
14||29,983
8,016,851|42,121
7,635,309|
||||8,046,834|7,677,430|
|CURRENT ASSETS|||||
|Debtors
Cash at bank and in hand|15||849,184
180,599|912,672
152,482|
||||1,029,783|1,065,154|
|CREDITORS|||||
|Amounts
falling due within one year|16||(380,218)|(404,557j|
|NET CURRENT ASSETS|||649,565|660,597|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||||
||||8,696,399|8,338,027|
|NETASSETS|||8,696,399|8,338,027|
|FUNDS|17||||
|Unrestricted
funds:|||||
|General fund|||8,696,399|8,338,027|
|TOTAL FUNDS|||8,696,399|8,338,027|
|||||THE|PATHOLO|PATHOLO|ICAL|SO IETYOF|SO IETYOF|REAT||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||D||||
|||||||CASH|FLOW|STATEMENT||||
|||||forthe||ar|en e|1Dec m|er|2021||
|||||||||||2021|2020|
||||||Notes|||||E|6|
|Cash flows from operating activities
Cash generated
from operations|||||||||~516,246]||~334,424]|
|Net cash used in operating||activities|||||||~516,246]||~334,424]|
|Cash flows from|investing|activities||||||||||
|Purchase offixed
Sale offixed asset|asset investments
investments|||||||||(1,640,850)
1,968,594|(863,894)
992,594|
|Movement
in capital accounts
Interest received||||||||||32,586
57|(38,167)
545|
|Dividends
received||||||||||183,976|196,413|
|Net cash provided|by investing activities|||||||||544,363|287,491|
|Change in cash and cash equivalents||||in the||||||||
|reporting period||||||||||||
|Cash and cash equivalents|||atthe beginning|||||||28,117|(46,933)|
|ofthe reporting|period|||||||||||
|||||||||||152,482|199,415|
|Cash and cash equivalents|||atthe end|ofthe||||||||
|reporting period||||||||||180,599|152,482|
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||||2021|2020|
|---|---|---|---|---|
||||E|E|
|Net income for the|reporting period (as per the Statement ofFinancial||||
|Activities)
Adjustments
for:|||358,372|19,442|
|Depreciation
charges
(Gain)/losses
on investments
Interest received
Dividends received
Decrease/(increase)
in debtors
Decrease in creditors|||12,138
(741,873)
(57)
(183,976)
63,488
~24,338|12,149
72,197
(545)
(196,413)
(18,111)
~223,143|
|Net cash used in operations|||~316,246]|~334,424]|
|ANALYSIS OF CHANGES IN NET FUNDS|||||
|||At 1.1.21|Cash flow|At31.12.21|
||||6|6|
|Net cash|||||
|Cash at bank and in hand||152,482|28,117|180,599|
|||152,482|28,117|180,599|
|Total||152,482|28,117|180,599|
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|3.|INVESTM|ENT INCOME||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
|||||E|E|E|E|
||Income from listed investments
Deposit account interest|||183,977
57||183,977
57|196,412
545|
|||||184,034||184,034|196,957|
|4.|INCOME FROM CHARITABLE||ACTIVITIES|||||
|||||||2021|2020|
||Journal ofPathology
Meetings and events|||||E
782,864
73925|E
860,340
24600|
|||||||886789|884940|
|5.|INVESTMENT MANAGEMENT||COSTS|||||
|||||||2021|2020|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||||E|E||
||Investment|management||30,658||30,658|30,457|
|6.|CHARITABLE ACTIVITIES COSTS|||||||
||||||Grant|||
||||||funding of|||
||||||activities|Support||
|||||Direct|(see note|costs (see||
|||||Costs|7)|note 8)|Totals|
||Journal ofPathology
Grants and Award payable
Meetings and Events|||E
149,595
94,425|E
967,686|E
166,612
127,761|E
149,595
1,134,298
222,186|
|||||244,020|967,686|294,373|1,506,079|
|7.|GRANTS PAYABLE|||||||
|||||||2021|2020|
|||||||E|E|
||Grants and|Award payable||||967,686|616,207|
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||||||||Governance||
|---|---|---|---|---|---|---|---|---|
|||||Management|Finance|costs||Totals|
|||||E|E||E|E|
|Grants and|Award payable|||107,651|2,640||56,321|166,612|
|Meetings and||Events||127,761||||127,761|
|||||235,412|2,640||56,321|294,373|
|Support costs, included|||in|the above, are as follows:|||||
||||||||2021|2020|
|||||Grants|Meetings||||
|||||and Award|and||Total|Total|
|||||payable|Events||activities|activities|
|||||E|E||E|E|
|Wages|||||70,255||70,255|59,104|
|Social security|||||11,413||11,413|13,580|
|Pensions|||||15,942||15,942|19,244|
|Rent and insurance|||||26,632||26,632|25,249|
|Postage and|stationery||||3,519||3,519|5,280|
|Sundries||||4,788|||4,788|8,614|
|Website and||computer||90,725|||90,725|62,076|
|Stafftravel||||||||2,796|
|Depreciation||oftangible|and heritage assets||||||
|||||12,138|||12,138|12,149|
|Bank charges||||2,640|||2,640|2,182|
|Wages||||30,100|||30,100|25,500|
|Auditors'
remuneration||||6,500|||6,500|6,000|
|Committee|meetings|||||||16,328|
|Accountancy||fees||7,853|||7,853|8,318|
|Professional||and legal fees||11,868|||11,868|3,826|
|||||166,612|127,761||294,373|270,246|
|NET INCOME/(EXPENDITURE)|||||||||
|Net income/(expenditure)||||is stated after charging/(crediting):|||||
||||||||2021|2020|
|||||||||6|
|Auditors'
remuneration|||||||6,500|6,000|
|Depreciation||-owned assets|||||12,138|12,149|
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|||||2021|2020|
|---|---|---|---|---|---|
|||||6|6|
|Wages and salaries||||128,268|107,430|
|Social security|costs|||14,656|18,672|
|Other pension|costs|||20,408|26,548|
|||||163,332|152,650|
|The average monthly||number ofemployees|during the year was as follows:|||
|||||2021|2020|
|Administrative|staff|||3|3|
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|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Fixtures|||
||and|Computer||
||fittings|equipment|Totals|
||E|E|E|
|COST||||
|At 1January 2021and 31December 2021||||
||12,374|65,774|78,148|
|DEPRECIATION||||
|At 1January 2021|11,955|24,072|36,027|
|Charge for year|63|12,075|12,138|
|At31December 2021|12,018|36,147|48,165|
|NET BOOK VALUE||||
|At31December 2021|356|29,627|29,983|
##
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##
|2021|2020|
|---|---|
|E||
|7,982,827|7,568,699|
|34,024|66,610|
|8,016,851|7,635,309|
||Shares in|||
|---|---|---|---|
||group|Listed||
||undertakings|investments|Totals|
||E|E|E|
|MARKET VALUE||||
|At 1January 2021||7,568,698|7,568,699|
|Additions||1,640,850|1,640,850|
|Disposals
Revaluations
Impairments||(1,968,594)
741,873|(1,968,594]
741,873
~&)|
|At31December 2021||7,982,827|7,982,827|
|NET BOOK VALUE||||
|At31December 2021||7,982,827|7,982,827|
|At31December 2020||7,568,698|7,568,699|
|||2021|2020|
|---|---|---|---|
|||E||
||Cash in portfolio|34,024|66,610|
|15.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|||
|||2021|2020|
|||E|6|
||Other debtors|840,010|903,993|
||Prepayments|9,174|8,679|
|||849,184|912,672|
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|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE|YEAR||
|---|---|---|
||2021|2020|
||E||
|Trade creditors|9,595|4,050|
|VAT||15|
|Other creditors|500|940|
|Accrued expenses|370,123|399,552|
||380,218|404,557|
|17.|MOVEMENT|IN FUNDS|||||||
|---|---|---|---|---|---|---|---|---|
||||||||Net||
||||||||movement|At|
|||||||At1.1.21|in funds|31.12.21|
|||||||E|E||
||Unrestricted|funds|||||||
||General fund|||||8,338,027|358,372|8,696,399|
||TOTAL FUNDS|||||8,338,027|358,372|8,696,399|
||Net movement|in funds, included||in the above|are as follows:||||
||||||Incoming|Resources|Gains and|Movement|
||||||resources|expended|losses|in funds|
||||||E|E|E|6|
||Unrestricted|funds|||||||
||General fund||||1,153,236|(1,536,737)|741,873|358,372|
||TOTAL FUNDS||||1,153,236|~1,536,737)|741,873|358,372|
||Comparatives|for movement|in|funds|||||
||||||||Net||
||||||||movement|At|
|||||||At 1.1.20|in funds|31.12.20|
|||||||E|E||
||Unrestricted|funds|||||||
||General fund|||||8,318,585|19,442|8,338,027|
||TOTALFUNDS|||||8,318,585|19,442|8,338,027|
##
##
|Comparative|net movement
in funds,|included
in the above are as foll|ows:|||
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources|expended|losses|in funds|
|||6|E|E|E|
|Unrestricted|funds|||||
|General fund||1,168,754|(1,077,115)|(72,197)|19,442|
|TOTALFUNDS||1,168,754|(1,077,115)|(72,197)|19,442|
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|||DETAILED STATEMENT OF FINANCIAL|DETAILED STATEMENT OF FINANCIAL|CTIVITIES|||
|---|---|---|---|---|---|---|
|||f rthe|ear ended 31Decem|r2 21|||
||||||2021|2020|
||||||6|6|
|INCOME AND ENDOWMENTS|||||||
|Donations and legacies|||||||
|Subscriptions|||||76,987|86,857|
|Investmentincome|||||||
|Income from listed investments
Deposit account interest|||||183,977
57|196,412
545|
||||||184,034|196,957|
|Charitable
activities|||||||
|Journal ofPathology
Meetings and events|||||818,290
73,925|860,340
24,600|
||||||892,215|884,940|
|Total incoming resources|||||1,153,236|1,168,754|
|EXPENDITURE|||||||
|Investment
management|costs||||||
|Investment
management|||||30,658|30,457|
|Charitable
activities|||||||
|Wages
Social security
Pensions
Charitable
expenditure
Grants to individuals|||||27,913
3,243
4,466
208,398
967,686|22,826
5,092
7,304
124,983
616,207|
||||||1,211,706|776,412|
|Support costs|||||||
|Management|||||||
|Wages
Social security
Pensions
Rent and insurance
Postage and stationery
Sundries
Website and computer
Stafftravel
Fixtures and fittings|||||70,255
11,413
15,942
26,632
3,519
4,788
90,725
63|59,104
13,580
19,244
25,249
5,280
8,614
62,076
2,796
74|
|Computer
equipment|||||12,075|12,075|
||||||235,412|208,092|
|Bank charges|||2,640|2,182|
|---|---|---|---|---|
|Governance
costs|||||
|Wages
Auditors'
remuneration
Committee
meetings
Accountancy
fees
Professional
and legal|fees||30,100
6,500
7,853
11,868|25,500
6,000
16,328
8,318
3,826|
||||56,321|59,972|
|Total resources expended|||1,536,737|1,077,115|
|Net (expenditure)/income||before gains and|||
|losses|||(383,501]|91,639|
|Net (losses) gains on investments|||||
|Realised gains/(losses)|on fixed asset investments||741,873|~72,197]|
|Net income|||358,372|19,442|