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2024-12-31-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 2024

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 2024

Index to the Financial Statements
Charity Information
Trustees’ Report
Statement of Trustees’ Responsibilities
Independent Examiner’s Report
Statement of Financial Activities
Statement of Financial Position
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 2024

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 Shruthi John (Chair)
to the date of these accounts: Tessa Dwyer (Treasurer)
Michelle Gallacher (stepped down August 2025)
Julia Jones
Daniel Orchard (stepped down August 2025)
Peter Sharp
Independent Examiner: Daniyal Khan (MSc, CA)
228 Berglen Court,
7 Branch Road
London
E14 7JZ
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 2024

The Board (the ‘Board” or “Trustees”) submit their report and the financial statements of Centre for Osteopathic Research and Excellence (the “Charity”or “Core”) for the year ended 31 December 2024. The Charity is a charitable incorporated organisation. The financial statements The borahave been prepared in line with the statement of recommend practices as per 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.

We work locally from our clinic in the London Borough of Hackney to provide affordable osteopathic treatment to people on low 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 behaviors. 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 comprises an initial meeting with at least two of the trustees and receipt of copies of:

Trustees are selected by a combination of recruitment programmes by external charity support organisations (eg. East London Business Alliance, ELBA) and direct requests or suggestions from our community.

All trustees, except Daniel Orchard, give their time freely with no remuneration or expenses paid during the year. Daniel Orchard is also the founder and CEO and as such his immediate presence on the board was deemed important to ensure stability and has now stepped down from the Board as of August 2025. He continues in his role as CEO.

Supporters

We would like to say a huge thanks to our supporters, those who have paid to see our therapists, taken a wellness class or hired our space, and all the volunteers and corporate support we have received.

Special than ~~ks goes to: Paul Hastings for their continued legal support; London & Partners, MedCity, Islington Council~~ and UKSPF for facilitating a £5,000 grant towards our operational costs and MUFG for their employee-led donation scheme..

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

The Trustees acknowledge that they have a responsibility for the identification and proper management of the risks faced by the 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.

OUR MISSION

4

Centre for Osteopathic Research and Excellence

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

Trustees’ Report

for the year ended 31 December 2024

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.

Our Beneficiaries

Core Clapton is our flagship wellness centre in East London, providing affordable osteopathy to the local community and beyond. 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.

In 2024, 33% of our patients were from BAME communities, 68% identified as female and 1% as non-binary or trans, and 25% were unemployed or unable to work due to illness or caring for family members.

Despite a change in our funding streams for 2024 (decreased reliance on grant funding and event space hire) we provided 50% of our patients with free or subsidised treatment, whilst maintaining a sustained high satisfaction rating of 4.8/5 for our osteopathic services.

What We Do

C is for Community. We raise awareness of osteopathy as an effective treatment for pain.

Osteopathy is a gentle and effective hands-on approach to healthcare, based on the principle that the way your body moves influences how it functions.

Osteopaths are highly competent healthcare professionals, recognised by the NHS as fully qualified to diagnose and treat independently.

Despite becoming NHS Allied Health Professionals in 2017, osteopaths are still only sporadically employed by the NHS due to historical barriers and preference for physiotherapists. This situation is thankfully improving but there is still a lot of work to be done for the profession to be accepted readily by the wider healthcare community.

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

In 2024 we provided 4,205 osteopathic treatments and saw 898 new patients use our services. Appointments were down from 2023’s figure of 5,544 treatments but with slightly more new patients (up from 757) suggesting a growing community seeking preventative healthcare but with less disposable income to have regular sessions.

Here are what some of our community have said about us:

“Core Clapton has been an essential partner in providing consistent support to our patients with chronic pain, offering osteopathy and holistic care. For individuals who fall through the gaps in NHS services or feel they are ‘going around in circles’ with pain management, Core Clapton offers a reliable and effective service. Their thorough assessments, tailored treatments, and comprehensive discharge summaries enable patients to better manage their chronic pain within the community, empowering them to regain control of their well-being.

Having facilitated a chronic pain group within primary care for the past two years, I have witnessed firsthand how Core Clapton provides access to a service that would otherwise be financially out of reach for many. It is the only service in the wider-community consistently able to offer such comprehensive support for patients struggling with complex and persistent pain.” Sadie Alleyne, Lead Social Prescriber, Hackney Downs PCN.

“After three months of enduring relentless lower back pain and relying heavily on painkillers, I finally found relief thanks to an exceptional osteopath - Anya Woolliams . From the very first consultation, I felt understood and reassured. Anya took the time to thoroughly assess my condition, listening carefully to my history of pain and previous treatments. Their approach was both holistic and personalised, focusing not only on alleviating the immediate discomfort but also on addressing the root cause of the problem.

5

Centre for Osteopathic Research and Excellence

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

Trustees’ Report

for the year ended 31 December 2024

Over the course of several sessions, I experienced a noticeable improvement in my mobility and a significant reduction in pain. The treatments were gentle yet highly effective, and Anya explained each step clearly, making sure I was comfortable and informed throughout the process. What impressed me most was their dedication to my recovery; they provided practical advice on posture, exercises, and lifestyle adjustments to prevent future issues.

Thanks to Anya, I am now pain-free and no longer dependent on painkillers. The relief I’ve experienced has been life-changing, and I wholeheartedly recommend their services to anyone struggling with similar issues. If you’re looking for an osteopath who is skilled, compassionate, and truly committed to your well-being, Core Clapton is the place to go.” Cătălina Cuvanji, Patient

“When I was first referred to Core Clapton by my GP, I had no clue what Osteopathy was about. The painkillers recommended for my sciatica were of no avail. At present, I’ve had three sessions with Osteopath Ruby, the first of which incredibly reduced the pain (I even enjoyed the pre-therapy discussion!). The following day, there was a remarkable difference, which is pale in comparison as to how I currently feel.

Pun intended, thank you, Ruby and Core Clapton for having my back! I can now listen to songs which include the word ‘back!’ Would it be overkill to say it feels so good to be back again?

In other words, should anyone experience back pain, not that I wish it, please don’t hesitate to book an appointment with Core Clapton! You will never regret it! Yours truly is living proof!” Obi Anyanwu, Patient

“Elvira, was my practitioner. She was absolutely fantastic. Very informative about my condition and ensured I understood the root causes. She showed care around my general health and well being. She listened with intent to understand and showed compassion. The treatment always left me feeling better and overall my symptoms have improved drastically . I am extremely grateful and say a huge thank you to Elvira and the whole service.” Anonymous, Patient

O is for Osteopathy. We make osteopathy affordable and accessible to all.

Over 30,000 people every day visit an osteopath suffering from a variety of conditions including neck or back pain, joint or 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 order to make osteopathy affordable to all we offer concessionary rate treatment to those on low-income or unemployed and their dependents.

In 2024 we provided over 1,318 concessionary treatments to 349 people on low income (down from 1,946 in 2023 due to increased financial pressures as a result of building uncertainty in the second half of the year).

We also provided 774 treatment sessions free of charge to 168 people suffering persistent chronic pain that were referred to us as part of our social prescriber pathway (down from 1,052/232 in 2023 – this is a direct result of pausing the programme from September 2024 to August 2025, reducing capacity by a quarter).

(NB. Social P ~~rescribers sit within local GP practices and are tasked to fnd free or low-cost solutions to frequently retur~~ ning patients with chronic conditions that are unable to be managed by usual medical care.)

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.

Due to the increasing global burden of chronic pain, in 2020 CORE established a referral pathway for patients with chronic pain and ‘medically unexplained symptoms’ to receive six free sessions of osteopathy. Patients are referred to us by GPs, Social Prescribers and Health and Wellbeing Coaches working in City & Hackney Medical Practices, and as part of our service, we are collecting data to gauge the effectiveness of osteopathy on these complex patients.

In 2024 we signed up to Keele University’s National MSK Audit study, along with the majority of NHS physiotherapy departments, to include our patient-reported outcome measures (PROMs) amongst a national study of patients presenting with MSK pain. This would allow us to see our patient outcomes at baseline and at 3-months, and any change in symptoms and their experience of our service (patient-reported experience measures, or PREMs), and compare to the national average. At the time of writing (October 2025) we are still building the software that will allow us to export the data to Keele University and as such are not yet able to report on the clinical outcomes of our patients for 2024. (Of the 232 people referred into our service in 2023, 62% reported

6

Centre for Osteopathic Research and Excellence

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

Trustees’ Report

for the year ended 31 December 2024

a significant improvement in their symptoms and 71% showed a clinically relevant improvement in quality of life and we assume 2024 would be similar.)

E is for Excellence. We raise the profile of osteopathy as a profession.

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 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.

In 2024, we continued our Graduate Learning Programme (a form of preceptorship year that currently does not exist within the osteopathic profession) until September and then chose to pause it for a year to regroup and refine the course structure.

Financial Review

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

2024 continued to be a very challenging year as the cost of living crisis continued. A major revenue stream for CORE has been event space hire, which was significantly reduced due to the decision not to sign a new lease on the building and subsequent inability to take advanced bookings whilst the council found new tenants.

Osteopathy and other treatments stayed constant from 2023 levels (£192,410 in 2023 to £191,891 in 2024) which was below predicted but reasonable considering the insecurity of the situation with premises.

Grants and donations were considerably down from £38,812 in 2023 to £13,868 in 2024

Core were fortunate to receive rent free period for the entire year, which, overall meant that Core has been able to show a slight profit for the year of £4,398.

Financial Activity and Financial Position

The results of the period and financial position of the Charity are shown in the annexed financial statements. The Statement of Financial Activities shows net profit for the year of £4,398 and reserves of £(96,483). (NB. We have been in deficit since our inception due to social investment loans of £95k plus an emergency government Bounce-Back Loan during Covid of £50k. Despite the global financial insecurities, we are actively reducing our debts and as of Year End 2024 these debts were down to £61,172 (42% of total) (and at the time of writing down to £45,627 or 31%).

Overall revenue was down from £519,164 in 2023 to £324,807 whilst total expenditure was down from £484,419 to £320,409. Event space hire revenue fell from £252,826 in 2023 to £83,612 with osteopathy slightly falling from £170,971 to £168,639 in the same period.

Tangible fixed assets for use by the Charity.

Tangible Fixed Assets are set out in Note 9 to the accounts.

Reserves Policy

The Trustees have undertaken a review of the Charity’s reserves policy in consideration of its financial position and operational requirements. Historically, the Trustees considered it appropriate to maintain unrestricted reserves equivalent to three months’ general fund expenditure. This level of reserve was deemed sufficient to provide the flexibility necessary to manage temporary shortfalls in income and to respond effectively to unforeseen circumstances whilst corrective action plans were implemented.

In light of the continued economic pressures arising from the COVID-19 pandemic and the ongoing cost of living crisis, and recognising the particular nature of CORE’s operating model and funding structure, the Trustees have determined that maintaining reserves equivalent to three months’ expenditure is no longer a suitable approach.

The Trustees have therefore agreed that it is appropriate for the Charity to hold reserves sufficient to meet its essential financial obligations in the event of reduced income or restricted funding. These reserves will be maintained at a level adequate to cover the costs associated with a reduced core staffing structure, key operational overheads, and any restricted fund or loan repayments commitments. This provision ensures that, should it become necessary, the Charity is able to continue operating at a reduced capacity or to manage an orderly wind-down of activities while safeguarding its obligations.

This revised approach reflects the unique operational environment in which CORE currently operates and is considered by the Trustees to provide a prudent and proportionate framework to ensure the Charity’s continued ability to pursue its objectives of

7

Centre for Osteopathic Research and Excellence

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

Trustees’ Report

for the year ended 31 December 2024

making osteopathy accessible to all, while maintaining sound financial stewardship.

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

The principal funding sources during the year 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.

We received a £1,000 donation from MUFG thanks to the involvement on the board of one of their employees. In terms of grants we received a further £5,000 from London & Partners, following participation by the CEO in a School of Social Entrepreneurs (SSE) Health Accelerator Programme.

Going concern

The trustees have considered the Charity’s position and remain confident that Core Clapton continues to be a going concern.

During 2024, Core Clapton remained in its Hackney premises on a rent-free basis by agreement with the council. This arrangement has allowed operations to continue with greatly reduced overheads, providing essential stability during a period of financial uncertainty. However, the temporary nature of the arrangement and the lack of clarity over the building’s long-term future has meant we could only take short-term event hire bookings. Furthermore, this has impacted therapist retention.

Income generation has remained challenging due to the reduction in event hire and ongoing global financial pressures affecting donations and grants. Despite this, clinic income has grown modestly, but remains below pre-pandemic projections. In response, the trustees have reviewed expenditure, streamlined staffing, and focused resources on maintaining clinical services for the local community.

Whilst the graduate programme was paused from September 2023 to August 2024 to regroup and plan, it was decided that, despite limited external funding for this programme, it was essential to continue in order to achieve our charitable aims of supporting those most in need and to maintain our data-gathering capacity. The continuation of this programme is also key to strengthening our case for potential NHS or local government funding for our community pain support service.

To plan for potential future scenarios, the trustees have developed detailed financial models for both growth and contraction. These projections confirm that under both conservative and optimistic assumptions, the Charity remains able to meet its obligations for at least twelve months from the date of approval of these accounts.

To proactively manage the uncertainty of the premises, Core Clapton have been working with a potential new tenant of the building that can provide complimentary services. At the time of writing (October 2025) this new tenant is close to signing a lease on the building with Core Clapton to stay in the premises as sub-tenants. This will mean minimal disruption to our current patient base and should increase new client numbers due to the synergies, marketing and PR campaigns planned by the new tenants. Should this outcome not materialise as intended, we have found several other potential sites within a 1-mile radius that we can move into, temporarily or permanently, to continue the objectives of the Charity. One clinic room at Yonder Climbing E17, is already providing services.

Taking the above into consideration, while the trustees recognise ongoing uncertainty relating to premises, staffing, and external funding, they ~~are satisfed that Core Clapton has adequate resources and fexibility to continue operations for the forese~~ eable future. The financial statements have therefore been prepared on a going concern basis.

Independent Examiner

The Independent Examiner, Daniyal Khan (CA, MSc) has been re-appointed for the 2024 annual accounts.

The financial statements were approved by the Board on 29th October 2025 and signed on its behalf by the Chair, Shruthi John.

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 2024

The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are required by law to prepare financial statements for each financial period which give a true and fair view of the 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 2024

I report on the accounts of Centre for Osteopathic Research and Excellence (“CORE Clapton”) for Year Ended 31st December 2024, 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. 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 the Independent Examiner

As detailed in the Trustees Report section, the trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for Year Ended 31st December 2024 under section 144 of The Charities Act, with an independent examination required instead as the Charity’s gross income has exceeded £250,000. I possess the correct qualifications and competencies to undertake the examination as a qualified member of the Institute of Chartered Accountants in Scotland (ICAS).

Having satisfied myself that the Charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:

  1. Examine the Charity’s accounts under section 145 of The Charities Act,

  2. To follow procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of The Charities Act, and

  3. To state whether particular matters have come to my attention.

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 further consideration for any unusual or key items, as well as 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

Upon completion of the independent examination, no material matters have come to my attention which gives cause to believe that in, any material respect:

  1. The accounting records were not kept in accordance with section 130 of The Charities Act; or

  2. The accounts did not accord with the accounting records; or

  3. The accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have not identified any matters during the examination to which attention should be drawn in this report.

Daniyal Khan (MSc, CA)

Dated: 29th October 2025

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 2024

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Trading activities
5
Total Income
Expenditure on:
Trading activities
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		 2024
2023		 2024
2023
icted
unds
Restricted
Funds
Total Funds
Total Funds
Unrestr
F

19
11		 £
£
£
£
8,868
5,000
13,868
38,812
1,891
-
191,891
192,410
9,048
-
119,048
287,942
31 9,807
5,000
324,807
519,164
2
29		 0,495
-
20,495
36,890
4,915
5,000
299,915
447,529
31 5,410
5,000
320,410
484,419
4,397
-
4,397
34,745
0,881)
-
(100,881)
(135,626)

(10
(9 6,484)
-
(96,484)
(100,881)

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 2024

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
14
Total charity funds
16		 31 December 2024 31 December 2024 31 December 2024 31 December 2023 31 December 2023
£
8,847




£
4,511
5,436		 £
6,378		 £


172
12,070
6,378



 8,847




(42,923)


5		 9,947
1,636		 12,242
55,165


(41,689)
(35,311)
(61,172)		 (34,076)
(66,805)
(96,484) (100,880)
(96,484) (100,880)
(96,484) (100,880)

The financial statements were approved by the Board on 29th October 2025 and signed on its behalf by:

Tessa Dwyer Dated: 29th October 2025

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 2024

Net income/(expenditure) for the reporting period (as per the
statement of financial activities)
Adjustments for:
Depreciation charges
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
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 of cash and cash equivalents
Bank and~~cash in hand~~
Total cash and cash equivalents		 2024
2023
£
£
4,397
34,745
2,638
37,373
(4,339)
11,959
(1,830)
(21,084)
867
62,993
(169)
(1,249)
(169)
(1,249)
(7,331)
(96,358)
(7,331)
(96,358)
(6,634)
(34,967)
12,070
47,037
5,436
12,070
~~5,436~~
12,070
5,436
12,070

13

Centre for Osteopathic Research and Excellence

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

Accounting Policies

for the year ended 31 December 2024

Basis of preparation

The financial statements have been prepared in accordance with:

Public benefit entity

The Charity meets the criteria of a public benefit entity under FRS 102.

Going concern

As detailed in the Trustees report, the board continues to closely monitor the financial requirements of CORE in order to deliver on our mission statement of making osteopathy available to all and is confident that we remain a financially viable going concern for the foreseeable future.

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

Pensions

The Charity operates defined contribution schemes which are administered by outside independent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activities.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off 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 2024

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:
Depreciation & amortisation
3
Income from donations and legacies
Grants & donations
4
Income from charitable activities
Osteopathy treatments
Other treatments
5
Income from trading activities
Events
Activities
Kitchen Let
Other misc revenue
6
Expenditure on raising funds
Fundraising
Events
Osteopathy expenses
Activities
Rental commision		 coming resources
coming resources are stated after charging:
ciation & amortisation
me from donations and legacies
s & donations
e from charitable activities		 2024
2023
£
£
2,638
37,373
2024
2023
Unrestricted
Restricted
Total
Total
£
£
8,868
5,000
13,868
38,812
8,868
13,868
38,812
2024
2023
Unrestricted
Restricted
Total
Total
£
£
168,639
-
168,639
170,971
23,252
-
23,252
21,439
pathy treatments
treatments
e from trading activities
s
ties
n Let
misc revenue
191,891
-
191,891
192,410
2024
2023
Unrestricted
Restricted
Total
Total
£
£
83,612
-
83,612
252,826
21,746
-
21,746
20,816
13,650
-
13,650
14,300
40
-
40
-
119,048
-
119,048
287,942
2024
2023
Unrestricted
Restricted
Total
Total
£
£
271
-
271
235
6,465
-
6,465
20,595
1,504
-
1,504
3,926
10,378
-
10,378
9,774
1,876
-
1,876
2,359
20,495
-
20,495
36,890

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 2024

2024 2023
7 Expenditure on charitable activities Unrestricted Restricted Total Total
£ £
Personnel 227,718 5,000 232,718 317,323
Premises 38,265 38,265 63,397
Ofce expenses 8,145 8,145 11,458
Advertising & marketing 8,402 8,402 7,439
Travel, accommodation & subsistence 769 769 2,323
Sundry expenses 600 600 838
Finance costs 4,099 4,099 4,408
Loan interest 1,853 1,853 1,786
Accountancy & bookkeeping 750 750 800
Consulting 1,675 1,675 385
Amortisation - - 34,889
Depreciation 2,638 2,638 2,484
294,915 5,000 299,915 447,529
8 Remuneration 2024 2023
Employees paid in excess of £60,000 during 2024 and 2023: None None
9 Tangible fxed assets Leasehold Plant & Computer Ofce Total
improvements Machinery Equipment Equipment
Cost
As of 1st January 2024 219,005 12,039 2,991 3,183 237,217
Additions - - 169 - 169
Disposals - - - - -
As of 31st December 2024 219,005 12,039 3,160 3,183 237,387
Depreciation
As of 1st January 2024 219,005 5,295 2,470 1,601 228,371
Charge for the year - 1,544 542 552 2,638
Disposals - - - - -
As of 31st December 2024 219,005 6,839 3,011 2,153 231,009
Net book value
As at 31 December 2024 - 5,200 148 1,030 6,378
As at 31 December 2023 - 6,744 521 1,582 8,847

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 2024

10
Debtors: amounts falling due within one year
Accounts receivable
Accrued Income
Prepayments
Staf loans
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
Bounce back loan
Refundable deposits
Other creditors
VAT
Payroll taxes
Net Salaries
Rent accruals
Other accruals
Hall h~~ire in advance~~
Income in advance
Pensions payable
13
Creditors: amounts falling due afer one year
Bounce back loan
Social investment loans		 2024
2023
£
£
768
(12)
727
-
3,015
-
-
185
4,511
172
2024
2023
£
£
4,342
11,044
903
476
141
413
-
87
50
50
5,436
12,070
2024
2023
£
£
12,743
9,218
6,250
6,250
2,800
3,700
268
754
-
1,511
5,603
2,582
-
3
7,638
16,638
10,348
8,237
~~2,350~~
2,350
2,809
3,120
827
800
51,636
55,165
2024
2023
£
£
35,890
41,279
25,282
25,526
61,172
66,805

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 2024

14 The funds of the Charity: 2024
Opening Resources Resources Other Closing
balance arising utilised movements balance
£ £ £ £ £
Unrestricted funds (100,881) 324,807 (320,409) (96,483)
(100,881) 324,807 (320,409) - (96,483)
15 The funds of the Charity: 2023
Opening Resources Resources Other Closing
balance arising utilised movements balance
£ £ £ £ £
Unrestricted funds (135,626) 519,164 (484,419) - (100,881)
(135,626) 519,164 (484,419) - (100,881)
16 Net assets attributable to funds: 2024
Unrestricted Designated Restricted Endowment
funds funds funds funds Total
£ £ £ £ £
Tangible fxed assets 6,378 - - - 6,378
Current assets 9,947 - - - 9,947
Current liabilities (51,636) - - - (51,636)
Long term liabilities (61,172) (61,172)
Net assets attributed to funds (96,483) - - - (96,483)
17 Net assets attributable to funds: 2023
Unrestricted Designated Restricted Endowment
funds funds funds funds Total
£ £ £ £ £
Tangible fxed assets 8,847 - - - 8,847
Current assets 12,242 - - - 12,242
Current liabilities (55,165) - - - (55,165)
Long term liabilities (66,805) - - - (66,805)
Net assets attributed to funds (100,881) - - - (100,881)

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 2024

18 Adjustments to previously filed accounts

Any adjustments for the previous period are considered immaterial and therefore not highlighted.

19 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.

20 Other financial commitments

The Charity had no other financial commitments at 31 December 2024 nor at 31 December 2023

21 Contingent liabilities

The Charity had no material contingent liabilities at 31 December 2024 nor at 31 December 2023.

22 Related parties

During the year the Charity used the financial and bookkeeping services of Patrick Orchard who is the brother of Daniel Orchard, CEO and a trustee during the period. All services were provided on arms-length terms.

23 Transactions with trustees

During the year (2024) Daniel Orchard, a trustee, was paid £40,625 (2023: £52,992).

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

24 Gifts in kind and volunteers

During the year the Charity benefited from unpaid work performed by volunteers.

25 Statutory status

The organisation is a charitable incorporated organisation.

19