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|---|---|---|---|---|
|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|
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|||||||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.|||
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|||||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|
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|||||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|
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||||||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|
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|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|
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|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|
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|||||||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|
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|||||2022|2021|
|---|---|---|---|---|---|
|Auditors'|remuneration|||7,000|6,500|
|Depreciation||—owned|assets|~12 128|~12 138|
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|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|
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|||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|
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|||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**.**-1**3**221|
|At 31 December 2022|||7 302 703|
|NET BOOK VALUE||||
|At 31 Dcccmbcr 2022|||7 302 703|
|At 31 December 2021|||7 982 827|
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||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|
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|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|
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||||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|
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|2022|2021|
|---|---|
|140,944|163,332|
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