OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Centre for Osteopathic Research and Excellence (A CIO governed by its constitution, charity number 1166246)

Financial Statements

and Trustees’ Report

for the year ended 31 December 2020

Company number: CE006067 Charity number: 1166246

1

(A CIO governed by its constitution, charity number 1166246)

Centre for Osteopathic Research and Excellence

Index to the Financial Statements

for the year ended 31 December 2020

Index to the Financial Statements
Charity Information
Trustees’ Report
Statement of Trustees’ Responsibilities
Independent Examiner’s Report
Statement of Financial Activities
Statement of Financial Postion
Statement of Cash Flows
Accounting Policies
Notes to the Accounts		 2
3
4 - 8
9
10
11
12
13
14
15 - 19

2

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Charity Information

for the year ended 31 December 2020

Status: Centre for Osteopathic Research and Excellence is a charitable incorporated
organisation (CIO) governed by its constitution and registered with the Charity
Commission for England and Wales under number 1166246
Charity name: Centre for Osteopathic Research and Excellence
Other operating names: CORE / Core Clapton
Charity registration number: 1166246
Registered ofce: 161 Northwold Road
London
E5 8RL
Operations address: 161 Northwold Road
London
E5 8RL
Trustees who held ofce during the period Bobby Vedral (resigned Oct 2020)
to the date of these accounts: Daniel Orchard
Emilie Devienne
Emily Haynes
Peter Leslie Sharp
Julia Jones
Verity Ann Louisa Stroud
Independent Examiner: Anthony Armstrong FCA
Armstrong & Co
Chartered Accountants & Statutory Auditor
4a Printing House Yard
Hackney Road
London E2 7PR
Solicitors: Paul Hastings
100 Bishopsgate
London EC2N 4AG
Bankers: The Co-operative Bank plc
PO Box 101
1 Balloon Street
Manchester M60 4EP

3

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Trustees’ Report

for the year ended 31 December 2020

for the year ended 31 December 2020. The Charity is a charitable incorporated organisation. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102.

Activities

We believe that everyone deserves to be free of injury, chronic pain or physical stress, whatever their income.

We exist because we understand that osteopathy can transform the daily experience of people living with injury, chronic pain or physical stress for the better. Yet it is often those who would benefit the most from osteopathy who can’t afford it.

incomes. Our work is led by a hands-on team who share a vision of building a healthy, active community, free from pain.

We acknowledge that pain needs to be treated with empathy, education, and empowering strategies to promote healthy behaviours. Osteopathy uses this holistic approach to pain management to restore health and function to the whole body.

Structure, Governance and Management

The Trustees meet at least four times annually to discuss a full range of matters relating to strategy, project work, recruitment, finance and general information.

The induction process for any individual newly-appointed to the Board of Trustees comprises an initial meeting with at least two of the trustees and receipt of copies of:

Historically, Trustees were selected mainly by recruitment programmes organised by the East London Business Alliance (ELBA) (Trustee Pitch Match) but in 2020 the Board began to utilise their local community pool to draw a wider, more representative demographic of trustee.

All trustees except Daniel Orchard give of their time freely and no remuneration or expenses were paid in the year. As a new startup charity, Daniel Orchard is also the founder and CEO and as such his immediate presence on the board is deemed essential but will be reviewed in due course with the aim of officially separating the board from senior management.

Supporters

We would like to say a huge thanks to our supporters, those who have paid the full fee or hired our space, and all the volunteers and corporate support we have received.

Special thanks goes to: Chris, Sally & Liam DeGlanville for their generous donations; Nihad Aziz and Ernst & Young for providing us with acco ~~untancy advice as part of their volunteer scheme; Paul Hastings for their continued legal support; East Lon~~ don Business Alliance for helping us find such dedicated trustees, and L&Q Foundation for funding our first older adults project.

Governing Document

Centre for Osteopathic Research and Excellence is a charitable incorporated organisation (CIO). It was established under a constitution dated 14 March 2016 which sets out the objects and powers of the charity.

Risk Management

Charity in achieving its primary aims. The Trustees have therefore assessed the major risks to which the Charity is exposed, in particular to those relating to the specific operation areas of the Charity and its finances. The Trustees believe that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, by creating and reviewing a risk register, and by examining the operational risks faced by the Charity, they have established effective systems and procedures to mitigate those risks.

4

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Trustees’ Report

for the year ended 31 December 2020

OUR MISSION

CORE stands for the Centre for Osteopathic Research and Excellence and has the dual aim of making osteopathy accessible to all whilst researching drug-free treatments for chronic pain. We offer specialist treatment to individuals on an income-based fee scale, helping people suffering from chronic pain get back to doing what they enjoy most. We also provide affordable wellness classes to encourage a healthier and happier community.

Our mission is to be exemplary in how we educate the community, improve access to osteopathy, lead research and strive for excellence.

Our vision is to give everybody the right to a pain-free life and make osteopathy accessible to all.

We help people to live healthy and happy lives through movement and activities that encourage physical and mental wellbeing.

While leading a healthy lifestyle has become a choice for many people in London, the cost of accessing support is often prohibitive for many others. Core Clapton offers a space for the local community to access services usually reserved for those who can afford it.

Since our inception in 2017 we have helped over 3,100 people receive expert osteopathic healthcare. We now see an average of 37% of patients from BAME communities (almost doubling the number of patients) and have a satisfaction rating of 4.9/5 for our osteopathic services (up form 4.8/5 in 2019)

WHAT WE DO

independently.

muscular pain, sports injuries, recurring headaches and more.

Unfortunately, osteopathy on the NHS is a postcode lottery with only 17% of the population receiving free osteopathic care. All major private health insurance companies provide osteopathy as one of their services yet for most people osteopathy is unaffordable.

In 2020 we provided 2,959 face-to-face osteopathic treatments and saw 633 new patients use our services, down from 3,028 treatments and 749 new patients in 2019. We also provided 283 free telephone consultations and 293 online pain management sessions during the pandemic to support our community during lockdown.

Here are what some of our happy service users have said:

“I had never considered seeing an osteopath before. When you go to places like that you often have the feeling it is for one class of people. But at Core Clapton there was none of that. There are people of all colours and genders, affordable concession prices and everyone’s welcoming and friendly; you feel very comfortable. From the first appointment, I had the time to express my feelings, what this pain meant for me and what my life goals were. And I was so surprised of how much interest my osteopath put in all this! I thought it had nothing to do with my arthritis. I am deeply grateful to Core Clapton because being able to afford treatment means I finally have a choice to take care of myself” - Jaqueline, School Assistant

can get better this quick. I realised that ‘degenerative disc disease’ was not a life sentence but a normal age-related change, that I could still exercise, be in control of my body and pain-free” - Dominic, Army Veteran

“My osteopath encourages me to do things that I like and keep me active; I started cycling in the park and joined a cycling group which gave me the confidence to do longer rides and now I’m cycling 15 miles in a day. It feels incredible. I no longer feel controlled by the pain.” - Fatima, Community Patient

5

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Trustees’ Report

for the year ended 31 December 2020

In a 2014 YouGov poll commissioned by the General Osteopathic Council, less than half of UK adults reported being aware that osteopaths were regulated. When asked about their confidence in osteopaths, only 52% reported positively as opposed to GPs (87%) and physiotherapists (73%). This increased to 76% when the ‘don’t knows’ were removed suggesting a need for increasing awareness of osteopathy amongst the public.

Conversely, the overall level of satisfaction amongst osteopathic patients is high (96%) compared with GPs (91%) and physiotherapists (77%).

Through marketing and community outreach projects we have been increasing awareness of osteopathy amongst the local population.

R is for Research. We gather and publish osteopathy-focused research.

As part of our mission to make osteopathy accessible to the wider community we aim to increase the available research on the effectiveness of osteopathy in different patient groups.

Institue of Osteopathy.

at the effects of osteopathy in older adults with chronic musculoskeletal pain. The study saw 20 older adults receive 6 free sessions of osteopathy and completed in 2021. Results were similarly promising and showed that osteopathy can be highly successful at improving quality of life in this older age group (due for publication in 2021).

improvement in quality of life (as measured with the Musculoskeletal Health Questionnaire, MSK-HQ); 52% reported an improvement in their sense of self-efficacy; 65% reported a better understanding of their condition; 65% improved in their overall mental wellbeing, and 35% reported feeling less lonely.

In the view of the current ‘opioid crisis’ for pain relief and the NHS overload due to the global pandemic, Core Clapton established a referral pathway for patients with chronic pain and ‘medically unexplained symptoms’ to receive six free session of osteopathy. Patients are r ~~eferred to us by GPs, Social Prescribers and Health and Wellbeing Coaches working in City & Hackney Me~~ dical Practices, and as part of our service, we are collecting data to guage the effectiveness of osteopathy on these complex patients.

Around 30,000 people currently consult osteopaths every working day. Public opinion surveys show that 88% of respondents feel the NHS should provide osteopathic treatment, or believe that it is already doing so.

As part of our NHS referral pathway, we have been liaising with Social Prescribers and GPs to explain the beneftis of osteopathy for outpatients suffering with persistent pain and medically unexplained symptoms.

As part of CORE’s commitment to be a reliable pillar in the osteopathic profession, we have created a COVID Standard Operating Procedure that was shared with the profession, covering all aspects of clinical practice needed to navigate the pandemic. Our CEO also gave a live webinar to over 1,000 clinicans around how to implemenet this these procedures in order to continue to support our patients whilst keeping them safe.

6

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Trustees’ Report

for the year ended 31 December 2020

As part of our mission to make osteopathy more accessible we feel it is essential to help develop the profession and provide a supportive environment for personal reflection and learning. Peer support and osteopathic mentoring ensures that our associate osteopaths have the opportunity to keep growing in their osteopathic practice. Associates are encouraged to share and reflect on their clinical experiences with their peers. Mentors are available to support our osteopaths to increase the depth of their practical and theoretical knowledge.

Despite the global pandemic, we continued to build the Graduate Learning Programme, with 4 volunteer osteopaths joining in September 2020 and two experienced osteopaths following our volunteers through to paid associate positions. We also recruited 2 associate osteopaths on a salaried basis as part of our objective to give osteopaths a more transparent career pathway. And we continued to increase the diversity of our osteopaths so that they better represent the local community of Hackney.

FINANCIAL REVIEW

Funding for the Charity comes mainly from voluntary income, event fundraising, loans, grants and rental of additional space.

2020 was of course a very challenging year due to COVID-19. A major revenue stream for CORE is event space hire, which was down due to the constraints to hospitality imposed by COVID. Income from the first two months was showing our projections to be accurate with a large increase in revenue across the board. COVID -19 started to effect us from late February / early March even before the lockdown as people stayed away and potential summer bookings didn’t materialise as the pandemic reached closer and closer to the UK. The biggest hit was in Event space hire and in particular weddings. Only 3 full scale weddings took place in 2020, and 6 in total against 28 that were booked in and 35 predicted. Wellness classes and Therapies were effected from closure during lockdowns to reduced capacity later on in the year. Osteopathy was also effected with a nearly three month closure period before we reopened in late May. Even then this suffered from additional costs for cleaning and sanitising, reduced capacity to allow rooms to be aired and sanitised between treatments and at times a reluctance from the patients to attend.

CORE was helped out over the year through the Government furlough scheme, Hackney Council giving a six month rent waiver and clearing previously accumulated debts. Grants available to organisations affected by the collapse of the hospitality industry were available towards the end of the year but initially the criteria meant CORE was not eligible. Liabilites increased mainly as a resut of CORE accessing £50k from the Bounce Back Loan scheme in the Autumn plus the increase in forward revenue from Weddings pushed back from 2020 into 2021 and beyond.

the full government grants for hospitality, osteopathy was continuing to grow and some revenue from the use of the hall for photoshoots was coming in. Whilst there is still some consumer uncertainty particualrly around larger events and especially corporate ones (CORE has not hosted a corporate event since March 2020), predictions are that CORE will post a profit for 2021. This is aided by the generousity of the SITR investors who collectively waived half their interest entitlement and individually two of the biggest investors have written off their investment as a donation.

Financial Activity and Financial Position

The results o ~~f the period and fnancial position of the charity are shown in the annexed fnancial statements.~~

Event space hire dropped from £150,595 in 2019 to £64,543 in 2020 due to COVID-related loss of hospitality and Osteopathy from £100,629 to £89,461 in the same period. Grants were up from £12,496 in 2019 to £62,176 due to the government’s furlough scheme, other hospitality grants and the L&Q Foundation grant.

Fixed assets are set out in Note 9 to the accounts.

Reserves Policy

The Trustees consider that, given the nature of the Charity’s funding, free reserves should be equivalent to 3 months’ general fund expenditure which includes costs relating to employment, plus committed future expenditure on other projects, where funds permit. The Trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources and will allow the Charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At the end

7

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Trustees’ Report

for the year ended 31 December 2020

despite the economic constraints brought about by Covid-19. Furthermore, the Trustees are currently investigating whether this is a suitable reserve policy for Core given the unique nature of the charity and it’s strong trading activity.

Principal funding sources and how expenditure supports the charity’s key objectives

The principal funding sources remained event space hire, osteopathy, therapies and activity classes which covered the main overheads of running the building and employing staff. Income from these, as well as emergency grants, went towards subsidising osteopathy and wellness classes for low-income earners.

Plans for future periods

Despite the pandemic we are continuing to build the foundations of our research goals. In 2020-21 we were able to run a preliminary study looking at the effects of osteopathy in older adults with chronic musculoskeletal pain, funded by the L&Q Foundation. The fact that almost three quarters of those that completed treatment had a clinically significant improvement in pain and quality of life is promising and has helped us to obtain official NHS research ethics to repeat the study as part of a pilot research project which hopefully will lead to a much larger study in the near future.

We have also been giving talks to NHS Social Prescribers and Health & Wellbeing coaches about osteopathy and how it can help in the management of chronic pain patients and those with medically-unexplained symptoms (one of the NHS’s areas of concern for their 2025 vision) as well as talks on pain neuroscience and how it can be used as a tool in clinical practice.

We have also been using our general clinic data gathering to assess outcomes and experience of patients utilising osteopathy to bench-mark it against current NHS provision, something we will be applying for research ethics in 2022 in order to be able to publish the results so they can be used by the wider medical community.

the best possible care to their patients.

Going concern

is mainly derived from self-generated sources such as health services and venue hire. Income had grown year on year and up until March 2020 we were predicting a £40k income surplus, but this was seriously upset by the pandemic. Despite this, and thanks to government grants and the generosity of Hackney Council, we were able to minimise our financial losses to £22k, which, together with other fiscal measures, provided the trustees the confidence that the charity would be able to meet financial obligations and reduce overall deficit in 2021 and beyond. Therefore, as of Dec 31st 2020 there were no material uncertainties.

Since the onset of the vaccination programme against coronavirus we have seen the restrictions on large gatherings lifted and since an increase in hospitality events and future bookings such that August 2021 was our busiest month on record. In additon, Osteopathy is returning to the pre-pandemic growth trajectory. As such, the trustees consider that there are no material uncertainties ~~about the demand for, and the charity’s ability to continue to provide, its services, and accordingly, the ac~~ counts have been prepared on a going concern basis.

Independent Examiner

The Independent Examiner, Anthony Armstrong FCA of Armstrong & Co, Chartered Accountants and Statutory Auditors, has indicated his willingness to be proposed for re-appointment.

Daniel Orchard Trustee

8

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Statement of Trustees’ Responsibilities

for the year ended 31 December 2020

law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

financial activities of the charity and of its financial position at the end of that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the Charity and financial information included in the Charity’s website.

9

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Independent Examiner’s Report

for the year ended 31 December 2020

I report on the accounts of Centre for Osteopathic Research and Excellence for the period from 1 January 2020 to 31 December 2020, which are set out on pages 1 to 19.

This report is made solely to the charity’s trustees as a body in accordance with section 145 of the Charities Act 2011 (the Charities Act) and regulations made under section 154 of that Act. My examination has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity’s trustees as a body, for my examination, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

As described on page 8, the trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the the Charities Act and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW).

my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I 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.

Anthony Armstrong FCA, Independent Examiner of Armstrong & Co

of Armstrong & Co 4a Printing House Yard Hackney Road Chartered Accountants & Statutory Auditor London Dated: 17th October 2021 E2 7PR

10

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Statement of Financial Activities

for the year ended 31 December 2020

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Trading activities
5
Total Income
Expenditure on:
Raising funds
6
Charitable activities
7
Total Expenditure
Net income/(expenditure)
and movement in funds
Reconciliation of funds:
Total funds brought forward
15
Total funds carried forward
14		 2020
2019		 2020
2019
icted
Funds
Restricted
Funds
Total Funds
Total Funds
Unrestr
9
9
9		 £
£
£
£
1,207
-
91,207
70,792
5,706
-
95,706
119,400
5,477
-
95,477
206,460
28 2,390
-
282,390
396,652
2
27		 8,694
-
28,694
57,679
6,536
-
276,536
328,474
30 5,230
-
305,230
386,153
2,840)
-
(22,840)
10,499
1,446)
-
(91,446)
(101,945)
(2
(9
(11 4,286)
-
(114,286)
(91,446)

All incoming resources and resources expended are derived from continuing activities The accompanying accounting policies and notes form an integral part of these financial statements.

11

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Statement of Financial Position

for the year ended 31 December 2020

Notes
Fixed assets:
Tangible assets
9
Total fixed assets
Current assets
Debtors
10
Cash at bank and in hand
11
Total current assets
Creditors: amounts falling
due within one year
12
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due
after more than one year
13
Total net assets
The funds of the charity:
Unrestricted funds
15
Total charity funds
16		 31 December 2020 31 December 2020 31 December 2020 31 December 2019 31 December 2019
£
138,842




4		 £
8,937
7,159		 £
122,556		 £


12,280
22,301
122,556



 138,842




(135,288)
5

24		 6,096
3,771		 34,581
169,869


(187,675)
(65,119)
49,167		 3,554
95,000
(114,286) (91,446)
(114,286) (91,446)
(114,286) (91,446)

Daniel Orchard

Dated: 17th October 2021

12

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Statement of Cash Flows

for the year ended 31 December 2020

Net income/(expenditure) for the reporting period (as per the
statement of financial activities)
Adjustments for:
Depreciation charges
(Profit)/loss on disposal of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Proceeds on sale of fxed assets
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Cash flows from financing activities:
Increase/(decrease) in borrowing
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Analysis o~~f cash and cash equivalents~~
Bank and cash in hand
Total cash and cash equivalents		 Net income/(expenditure) for the reporting period (as per the
statement of financial activities)
Adjustments for:
Depreciation charges
(Profit)/loss on disposal of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Proceeds on sale of fxed assets
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Cash flows from financing activities:
Increase/(decrease) in borrowing
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Analysis o~~f cash and cash equivalents~~
Bank and cash in hand
Total cash and cash equivalents		 2020
2019
£
£
(22,840)
10,499
37,734
35,776
1,469
-
3,343
(1,910)
(42,582)
(15,967)
(as per the
s
(22,876)
28,398
130
-
(23,046)
(23,050)
(22,916)
(23,050)
70,650
5,288
70,650
5,288
24,858
10,636
22,301
11,665
47,159
22,301
47,159
22,301
47,159
22,301

13

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Accounting Policies

for the year ended 31 December 2020

Basis of preparation

Going concern

venue hire. Income has increased after the year end and that together with other fiscal measures gives the trustees confidence that the charity will be able to meet its debts as they fall due whilst reducing the deficit. The trustees consider that there are no material uncertainties about the demand for, and the charity’s ability to continue to provide, its services, and accordingly, the accounts have been prepared on a going concern basis.

Income recognition

Income is recognised when the charity has a contractual or other right to its receipt, it is probable that the income will be received and that the amount can be measured reliably. Income with conditions attached to its receipt is recognised when those conditions have been fulfilled.

Grant income is recognised on a receivable basis.

The income from trading activities includes venue hire. Non-refundable deposits and payments received in advance are deferred to the period in which the hiring takes place.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Deferred income

Income received which is contractually or otherwise not expendable until a future period is deferred to the period in which it meets the criteria for income recognition.

Unrestricted Funds

Unrestricted funds are funds received which have no restrictions placed on their use and are available as general funds.

Allocation of costs

Costs are all ~~ocated directly to projects where they can be identifed as relating solely to that project. Other costs are all~~ ocated between the funds based on staff time spent on the fund activities or other appropriate criteria.

Pensions

tions payable for the year are charged to the Statement of Financial Activities.

Tangible Fixed Assets

each asset over its estimated useful life.

Leasehold improvements over the period of the lease Plant & machinery 10% on cost Computer equipment 20% on cost Office equipment 20% on cost

Assets are only capitalised where the purchase price exceeds £100.

14

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Notes to the Accounts

for the year ended 31 December 2020

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charity.

2
Net incoming resources
Net incoming resources are stated after charging:
Independent Examiner's fees - reporting service
Independent Examiner's fees - other services
Depreciation & amortisation
3
Income from donations and legacies
Grants & donations
4
Income from charitable activities
Osteopathy treatments
Other treatments
Training and seminars
5
Income from trading activities
Events
Activities
Kitch~~en Let~~
6
Expenditure on raising funds
Fundraising
Events
Osteopathy expenses
Activities
Rental commision		 coming resources
coming resources are stated after charging:
endent Examiner's fees - reporting service
endent Examiner's fees - other services
ciation & amortisation
e from donations and legacies
s & donations		 2020
2019
£
£
1,000
1,300
-
1,300
37,734
35,776
2020
2019
Unrestricted
Restricted
Total
Total
£
£
91,207
-
91,207
70,792
91,207
-
91,207
70,792
2020
2019
Unrestricted
Restricted
Total
Total
£
£
89,461
-
89,461
100,630
6,245
-
6,245
13,579
-
-
-
5,191
e from charitable activities
pathy treatments
treatments
g and seminars
e from trading activities
s
ties
~~n Let~~
95,706
-
95,706
119,400
2020
2019
Unrestricted
Restricted
Total
Total
£
£
72,944
-
72,944
163,329
15,732
-
15,732
27,781
~~6,800~~
~~-~~
~~6,800~~
15,350
95,477
-
95,477
206,460
2020
2019
Unrestricted
Restricted
Total
Total
£
£
202
-
202
1,882
6,673
-
6,673
28,877
9,903
-
9,903
8,797
11,143
-
11,143
14,735
774
-
774
3,388
28,694
-
28,694
57,678

15

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Notes to the Accounts

for the year ended 31 December 2020

2020 2019
7 Expenditure on charitable activities Unrestricted Restricted Total Total
£ £
Personnel 186,053 186,053 180,582
Premises 8,387 8,387 64,888
Ofce expenses 10,087 10,087 16,414
Event refunds 7,007 7,007 -
Advertising & marketing 14,831 14,831 11,498
Travel, accommodation & subsistence 106 106 5,112
Sundry expenses 503 503 413
Cost recovery - - (4,250)
Finance costs 1,706 1,706 1,591
Loan interest 5,703 5,703 4,750
Accountancy & bookkeeping 1,000 1,000 2,600
Consulting 1,950 1,950 9,100
Amortisation 36,205 36,205 34,056
Depreciation 1,528 1,528 1,720
Loss on disposal of fxed assets 1,469 1,469 -
276,536 - 276,536 328,475
8 Remuneration
Employees paid in excess of £60,000 during the current year and previous year: None None
9 Tangible fxed assets Leasehold Plant & Computer Ofce Total
improvements Machinery Equipment Equipment
Cost
As of 1st January 2020 192,432 10,980 2,216 1,025 206,653
Additions 19,704 1,646 1,452 244 23,046
Dispo~~sals~~ ~~-~~ ~~(2,278)~~ ~~(798)~~ ~~-~~ (3,076)
As of 31st December 2020 212,136 10,348 2,871 1,270 226,624
Depreciation
As of 1st January 2020 64,780 1,705 888 439 67,811
Charge for the year 36,205 978 409 141 37,734
Disposals - (1,168) (309) - (1,477)
As of 31st December 2020 100,985 1,515 988 580 104,068
Net book value
As at 31 December 2020 111,151 8,833 1,883 689 122,556
As at 31 December 2019 127,652 9,275 1,329 586 138,842

16

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Notes to the Accounts

for the year ended 31 December 2020

10
Debtors: amounts falling due within one year
Accounts receivable
Prepayments
11
Bank and cash in hand
Charity bank account
PayPal
Stripe
Petty cash
Cash in hand
12
Creditors: amounts falling due within one year
Accounts payable
Refundable deposits
Other creditors
VAT
Payroll taxes
Net Salaries
Rent accruals
Other accruals
Hall hire in advance
Loan from trustee
Social investment loan: accrued interest
Pensi~~ons payable~~
Goldman Sachs Easymatch
Social investment loans
Bounce back loan
13
Creditors: amounts falling due afer one year
Social investment loans
Bounce back loan		 2020
2019
£
£
8,937
11,230
-
1,050
8,937
12,280
2020
2019
£
£
45,695
21,069
1,270
1,060
59
-
25
93
110
79
47,159
22,301
2020
2019
£
£
11,179
21,692
3,475
5,592
4,500
12,456
2,534
3,672
9,038
2,687
355
(160)
10,146
56,273
4,697
8,698
61,581
39,546
6,731
5,561
19,557
13,854
~~368~~
-
13,777
-
95,000
-
833
-
243,771
169,869
2020
2019
£
£
-
95,000
49,167
-
49,167
95,000

17

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Notes to the Accounts

for the year ended 31 December 2020

14
The funds of the charity: current year
Opening
balance
Resources
arising
Resources
utilised
Other
movements
Closing
balance
£
£
£
£
£
Unrestricted funds
-
-
-
-
-
General funds
(91,446)
282,390
(305,230)
-
(114,286)
(91,446)
282,390
(305,230)
-
(114,286)
15
The funds of the charity: prior year
Opening
balance
Resources
arising
Resources
utilised
Other
movements
Closing
balance
£
£
£
£
£
Unrestricted funds
-
-
-
-
-
General funds
(101,945)
396,652
(386,153)
-
(91,446)
(101,945)
396,652
(386,153)
-
(91,446)
16
Net assets attributable to funds: current period
General funds
Designated
funds
Restricted
funds
Endowment
funds
Total
£
£
£
£
£
Tangible fxed assets
122,556
-
-
-
122,556
Current assets
56,096
-
-
-
56,096
Current liabilities
(243,771)
-
-
-
(243,771)
Long term liabilities
(49,167)
-
-
-
(49,167)
Net assets attributed to funds
(114,286)
-
-
-
(114,286)		 14
The funds of the charity: current year
Opening
balance
Resources
arising
Resources
utilised
Other
movements
Closing
balance
£
£
£
£
£
Unrestricted funds
-
-
-
-
-
General funds
(91,446)
282,390
(305,230)
-
(114,286)
(91,446)
282,390
(305,230)
-
(114,286)
15
The funds of the charity: prior year
Opening
balance
Resources
arising
Resources
utilised
Other
movements
Closing
balance
£
£
£
£
£
Unrestricted funds
-
-
-
-
-
General funds
(101,945)
396,652
(386,153)
-
(91,446)
(101,945)
396,652
(386,153)
-
(91,446)
16
Net assets attributable to funds: current period
General funds
Designated
funds
Restricted
funds
Endowment
funds
Total
£
£
£
£
£
Tangible fxed assets
122,556
-
-
-
122,556
Current assets
56,096
-
-
-
56,096
Current liabilities
(243,771)
-
-
-
(243,771)
Long term liabilities
(49,167)
-
-
-
(49,167)
Net assets attributed to funds
(114,286)
-
-
-
(114,286)		 14
The funds of the charity: current year
Opening
balance
Resources
arising
Resources
utilised
Other
movements
Closing
balance
£
£
£
£
£
Unrestricted funds
-
-
-
-
-
General funds
(91,446)
282,390
(305,230)
-
(114,286)
(91,446)
282,390
(305,230)
-
(114,286)
15
The funds of the charity: prior year
Opening
balance
Resources
arising
Resources
utilised
Other
movements
Closing
balance
£
£
£
£
£
Unrestricted funds
-
-
-
-
-
General funds
(101,945)
396,652
(386,153)
-
(91,446)
(101,945)
396,652
(386,153)
-
(91,446)
16
Net assets attributable to funds: current period
General funds
Designated
funds
Restricted
funds
Endowment
funds
Total
£
£
£
£
£
Tangible fxed assets
122,556
-
-
-
122,556
Current assets
56,096
-
-
-
56,096
Current liabilities
(243,771)
-
-
-
(243,771)
Long term liabilities
(49,167)
-
-
-
(49,167)
Net assets attributed to funds
(114,286)
-
-
-
(114,286)
-
(91,446)
282,390
(305,230)
-
(114,286)
esources
arising
Resources
utilised
Other
movements
Closing
balance
£
£
£
£
-
-
-
-
396,652
(386,153)
-
(91,446)
396,652
(386,153)
-
(91,446)
signated
funds
Restricted
funds
Endowment
funds
Total
£
£
£
£
-
-
-
122,556
-
-
-
56,096
-
-
-
(243,771)
-
-
-
(49,167)
p
General funds
De
£
122,556
56,096
(243,771)
(49,167)
(114,286) -
-
-
(114,286)
17 Net assets attributable to funds: prior period
Designated Restricted Endowment
General funds funds funds funds Total
Tangible fxed assets £ £ £ £ £
Current assets 138,842 - - - 138,842
Current liabilities 34,581 - - - 34,581
Long term liabilities (169,869) - - - (169,869)
Net assets attributed to funds (95,000) - - - (95,000)
(91,446) - - - (91,446)

18

Centre for Osteopathic Research and Excellence

(A CIO governed by its constitution, charity number 1166246)

Notes to the Accounts

for the year ended 31 December 2020

18 Taxation

The organisation is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

19 Post balance sheet events

In April 2021, the SITR investors unanimously agreed to reduce the interest payable on the loan from 5% to 2.5% backdated from the start of the loan. Additionally, two main investors wrote off the full value of their loan. The combined value of this was £29,991

20

Total operating lease commitments

At 31 December 2020, the charity had total commitments under non-cancellable operating leases as detailed:

Property lease ending October 2023
The lease cost was renegotiated down to £80,000pa f		 2020
2019
£
£
182,598
336,528
or the remainder of the lease during 2020.

21 Contingent liabilities

The charity had no material contingent liabilities at 31 December 2020 nor at 31 December 2019.

22 Related parties

During the year the charity used the financial and bookkeeeping services of Patrick Orchard who is the brother of Daniel Orchard, a trustee. All services were provided on arms-length terms.

23 Transactions with trustees

During the year Daniel Orchard, a trustee, was paid of £39,000 (2019: £39,000).

Payments were made in respect of his capacity as CEO and manager of the site and not for his service as a trustee.

24 Gifs in kind and volunteers

25 Statutory status

The organisation is a charitable incorporated organisation.

19