| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 10 | |
| Report ofthe Independent Auditors |
11 | to | 14 | |
| Statement ofFinancial | Activities | 15 | ||
| Balance Sheet | 16 | |||
| Cash Flow Statement | 17 | |||
| Notes to the Cash Flow | Statement | |||
| Notes to the Financial | Statements | 19 | to | 27 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total | ||||||
| fund | funds | ||||||
| Notes | f | ||||||
| INCOME | AND ENDOWMENTS | FROM | |||||
| Donations | and legacies | 77,419 | 76,987 | ||||
| Charitable | activities | ||||||
| Journal of | Pathology | 794,406 | 818290 | ||||
| Mcctings and Events | 111,600 | 73,925 | |||||
| Investment Total |
income | 19tl 215 I 17364tl |
184034 ~1 153 36 |
||||
| EXPENDITURE ON | |||||||
| Raising funds | |||||||
| InveStment | management | costs | |||||
| 32,346 | 30,658 | ||||||
| Charitable | activities | ||||||
| Journal of | Pathology | 218,470 | 149,595 | ||||
| Grants and | Award payable |
559,560 | 1,134/98 | ||||
| Meetings and Events |
150444 | 222,186 | |||||
| Total | 960 820 | 1 536 737 | |||||
| Net gains/(losses) on investments |
~48 3323 |
747873 | |||||
| NET INCOME/(EXPENDITURE) | (269,512) | 358/72 | |||||
| RECONCILIATION | OF | FUNDS | |||||
| Total funds | brought forward |
8,696,399 | 8,338,027 | ||||
| TOTAL FUNDS CARRIED FORWARD | 8 426 887 | 8696 399 | |||||
| CONTINUING OPERATIONS |
|||||||
| All income | and expenditure | has arisen from continuing | activities. |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Total | Total | ||||
| funds | funds | ||||
| Notes | f | ||||
| FIXED | ASSETS | ||||
| Tangible | assets | 13 | 17,845 | 29,983 | |
| Investments | 14 | 7 374 745 | 8 976,857 | ||
| 7,392,000 | 8,046,834 | ||||
| CURRENT ASSETS | |||||
| Debtors | 819,723 | 849,184 | |||
| Cash at bank and in hand | 476 445 | 78tl599 | |||
| 1,236,168 | 1,029,783 | ||||
| CREDITORS | |||||
| Amounts | falling due within | one year | 16 | (201,281) | (380/18) |
| NET CURRENT ASSETS | Itl34 887 | 649 565 | |||
| TOTAL | ASSETSLESSCURRENT | LIABILITIES | 8,426,887 | 8,696399 | |
| NET ASSETS | 8 426 887 | ~8696 99 |
|||
| FUNDS | 17 | ||||
| Unrestricted funds: |
|||||
| General TOTAL |
fund FIINDS |
8 426 887 8 426 887 |
8696 399 ~8696 |
| CASH FLOW | STATEMENT | ||||||
|---|---|---|---|---|---|---|---|
| for the veer ended | December | 022 | |||||
| 2022 | 2021 | ||||||
| Notes | |||||||
| Cash flows from operating activities Cash generated from operations Net cash used in operating activities |
~774 7437 ~174743) |
~576 246) 516246 |
|||||
| Cash flows from investing | activities | ||||||
| Purchase offixed asset investments | (I,I74,055) | (1,640,850) | |||||
| Sale offixed asset investments | 1,334,429 | 1,968,594 | |||||
| Movement in capital accounts |
32,586 | ||||||
| interest received | 1,097 | 57 | |||||
| Dividends received |
189 118 | 183976 | |||||
| Net cash provided by investing |
activities | 35tl589 | 544 363 | ||||
| Change in cash and cash equivalents | in the | ||||||
| reporting period |
235,846 | 28.117 | |||||
| Cash and cash equivalents | at | the beginning | of | ||||
| the reporting period |
189599 | 152 482 | |||||
| Cash and cash equivalents | at | the end | ofthe | ||||
| reporting period |
416445 | 18tl599 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Net (expenditure)/income | for the reporting | period (as per the Statement of | ||||
| Financial Activities) | (269,512) | 358,372 | ||||
| Adjustments | for: | |||||
| Depreciation | charges | 12,128 | 12,138 | |||
| Losses/(gain) | on invcstmcnts | 482,332 | (741,873) | |||
| Interest received | (1,097) | (5'7) | ||||
| Dividends received |
(189,118) | (183,976) | ||||
| Decrease in debtors Decrease in creditors Net cash used in operations |
29,461 ~)78937) ~)3~743) |
63,488 ~24.338) ~3)6246 |
||||
| ANALYSIS | OF CHANGES IN NET FUNDS | |||||
| At | 1.1.22 | Cash flow | At 31.12.22 | |||
| f | ||||||
| Net cash | ||||||
| Cash at bank | and in hand | ~180599 | ~235 846 | ~416445 | ||
| ~180599 | 235,846 | ~416445 | ||||
| Total | 180599 | 235 846 | 416445 |
| DONATIONS | AND LEGACIES | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| f | |||||
| Subscriptions | ~77419 | ~77 419 | 76 987 | ||
| INVESTMENT INCOME | |||||
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | hmds | funds | ||
| f | |||||
| Income from listed invcstmcnts | 189,118 | 189,118 | 183,977 | ||
| Deposit account interest | 1 097 | I 097 | 57 | ||
| 190215 | 190215 | 184034 | |||
| INCOME FROM CHARITABLE ACTIVITIES | |||||
| 2022 | 2021 | ||||
| Journal ofPathology | 794,406 | 818,290 | |||
| Meetings and events |
111,600 | 73,925 | |||
| 906,006 | 892,215 |
| INVESTM | ENT MANAGEMENT COSTS |
|||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Um'cstrictcd | Rcstrictcd | Total | Total | |||
| funds | funds | funds | funds | |||
| f | ||||||
| Investment | management | ~32 346 | ~32 346 | 30.658 | ||
| CHARITABLE ACTIVITIES COSTS | ||||||
| Grant | ||||||
| funding of | ||||||
| activities | Support | |||||
| Direct | (see note | costs (see | ||||
| Costs | 7)f | note 8) | Totals | |||
| Journal of | Pathology | 218,470 | 218,470 | |||
| Grants and Award payable Meetings and Events |
52.772 | 421,385 | 138,175 97,672 |
559,560 ~150444 |
||
| ~271 242 | ~421 385 | ~235 847 | ~928474 | |||
| GRANTS | PAYABLE | |||||
| 2022 | 2021 | |||||
| f. | ||||||
| Grants and | Award payable | ~421 385 | ~967686 | |||
| SUPPORT COSTS | ||||||
| Governance | ||||||
| Management | Finance | costs | Totals | |||
| f | f. | f | ||||
| Grants and Award payable Mcctings and Events |
81,834 ~83 721 ~165555 |
1,525 ~1525 |
54,816 ~13951 ~68 767 |
138,175 ~97672 ~235 847 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Grants | Meetmgs | ||||||
| and Award | and | Total | Total | ||||
| payable | Events f |
activities | activities | ||||
| Wages | 48,037 | 48,037 | 70,255 | ||||
| Social security | 2,899 | 2,899 | 11,413 | ||||
| Penstons | 3,239 | 3 239 | 15,942 | ||||
| Rent and insurance | 26,196 | 26,196 | 26,632 | ||||
| Postage and | stattonery | 3,350 | 3,350 | 3,519 | |||
| Sundries | 10,862 | 10,862 | 4,788 | ||||
| Website &computer | 58,844 | 58,844 | 90,725 | ||||
| Deprectation | oftangible | and heritage | assets | 12,128 | 12,128 | 12,138 | |
| Bank charges | 1,525 | 1,525 | 2,640 | ||||
| Wages | 20,600 | 20,600 | 30,100 | ||||
| Auditors' remuneration |
'7,000 | 7,000 | 6,500 | ||||
| Committee | meetings | 13,951 | 13,951 | ||||
| Accountancy Professional |
fees and legal fees |
8,363 18853 ~(38 175 |
~97672 | 8,363 ~18853 ~235 847 |
7,853 ll 868 ~294 373 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Auditors' | remuneration | 7,000 | 6,500 | ||
| Depreciation | —owned | assets | ~12 128 | ~12 138 |
| STAFF COST | S | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Wages and salanes | 119,649 | 128,268 | ||||
| Social security Other pension |
costs costs |
9,077 ~12218 |
14,656 ~20 408 |
|||
| 140944 | 163332 | |||||
| The average monthly | number ofetnployees | during | the year was as follov:s: | |||
| 2022 | 2021 | |||||
| Administrative | staff | 2 | 3 |
| Fixtures | ||||
|---|---|---|---|---|
| and | Computer | |||
| fittings | equipment | Totals | ||
| COST | ||||
| At | 1 January 2022 and 31 December 2022 |
12374 | 65 774 | 78 148 |
| DEPRECIATION | ||||
| At | 1 January 2022 |
12,018 | 36,147 | 48,165 |
| Charge for year | 53 | 12075 | 12 128 | |
| At | 31Dcccmbcr 2022 | 12.071 | ~48 222 | ~60 293 |
| NET BOOK VALUE | ||||
| At | 31 December 2022 | 303 | 17552 | 17855 |
| At | 31 December 2021 | 356 | 29 627 | 29 983 |
| 2022 | 2021 | ||
|---|---|---|---|
| Shares | 7,302,703 | 7,982,827 | |
| Other | 71,442 | 34 024 | |
| 7374145 | 81176851 | ||
| Additional information |
as follows: | ||
| Listed | |||
| investments | |||
| MARKET VALUE | |||
| At I January 2022 |
7,982,827 | ||
| Additions | 1,136,637 | ||
| Disposals Revaluations |
(1,334,429) ~448822.-13221 |
||
| At 31 December 2022 | 7 302 703 | ||
| NET BOOK VALUE | |||
| At 31 Dcccmbcr 2022 | 7 302 703 | ||
| At 31 December 2021 | 7 982 827 |
| 2022 | 2021 | |
|---|---|---|
| Cash tn portfoho | ~71442 | ~34 024 |
| DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | |
| Other debtors Prcpaymcnts |
808,552 ~II 171 |
840,010 ~9174 |
| 819723 | 849 184 |
| 16. | CREDI | TOR | S | : AMOU | NTS FA | LLING DUE WITHIN ONE | VEAR | |||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||||
| Trade creditors | 17,354 | 9,595 | ||||||||
| VAT | 1,000 | |||||||||
| Other creditors | 615 | 500 | ||||||||
| Accruals | and | deferred mcome | 182312 | 370,123 | ||||||
| 201 281 | 380218 | |||||||||
| 17. | MOVEMENT | IN FUNDS | ||||||||
| Net | ||||||||||
| movement | At | |||||||||
| At 1.1.22 | in funds | 31.12.22 | ||||||||
| Unrestricted | funds | |||||||||
| General | fund | 8,696,399 | (269,512) | 8,426,887 | ||||||
| TOTAL | FUNDS | 8 696399 | ~269 512) | 8426 887 | ||||||
| Net movement | in funds, | included | in the above are as follows: | |||||||
| Incoming | Rcsourccs | Gains and | Movcmcnt | |||||||
| resources | expended | losses | in funds | |||||||
| f | ||||||||||
| Unrestricted | funds | |||||||||
| General | fund | 1,173,640 | (960,820) | (482,332) | (269,512) | |||||
| TOTAL | FUNDS | 1173 | &6 | ~96982tl | ~482332 | ~269 512 |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1.1.21 | tn funds | 31.12.21 | |||
| Unrestricted | funds | ||||
| General | fund | 8,338,027 | 358,372 | 8,696,399 | |
| TOTAL | FUNDS | 8 338027 | 358 372 | 8696399 |
| 1ileum 1llg | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended f |
losses | in funds | |||
| Unrestricted | funds | |||||
| General | fund | 1,153,236 | (1,536,737) | 741,873 | 358,372 | |
| TOTAL | FUNDS | I 153 216 | ~1536737 | 741 173 | 355 372 |
| 2022 | 2021 |
|---|---|
| 140,944 | 163,332 |