## 



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## 

||BOARD OF TRUSTEES|
|---|---|
|Chair:|MrStuartHay|
|Vice'chair:|MsAnna Rennie|
|Finance sub-committee||
|chair:|MrGordon Briars|
|Trustees:|Ms Cepta Burke|
||MrsAlison Crawshaw RGN, BSc, ENB216(from15 May2021)|
||Mr David Drakeley|
||Ms Nicola Gee|
||Mrs Carol Katte RGN, DipN(Lond),NDNCert, ENB216(until15May20211|
||Mrs Jacqui Sibbald|
||MrJohn Smail|
||MrMichael Thompson MD, FRCS|
||MsTracey Usher|





## 

## 

|Medical adviser:|Professor Christopher Probert MD, FRCP,ILTM|
|---|---|
|Gynaecological adviser:|MrOlu.iimiJibodu MRCOG|
|Research advisers:|Professor Sir Miles lrving DSc (Hon). MD, ChM, FRCS, FMedSci|
||Professor Sir NormanSWlliamsFRCS, FRCP, FRCPE,|
||FMedSci, FRCA|
||ProfessorMG Dunlop MD, FRCS, FMedSci, FRSE|
||Professor JRTMonson MD, FRCS, FRCSI, FACS,|
||FRCPS Glas (Hon)|
||ProfessorDG Morton MD, FRCS(Colorectal)|
|Surgical advisers:|Professor Neil Mortensen MBChB, MD, MA, FRCSEng,|
||FRCS Glas, FRCS Edin,FRCSI|
||MrMike Thompson MD, FRCS|
|Dermatological adviser:|DrCalum Lyon MA, MRCP|
|Pharmaceutical adviser:|MsAnne Chetwood|



## 

||PROFESSIONAL ADVISERS|
|---|---|
|Legal advisers:|BatesWells&Braithwaite LLP|
||10Queen Street Place|
||London EC4RlBE|
|Principal bankers:|The Co-operative Bank|
||POBox250, Delf House, Southway, Skelrnersdale WN8 8WT|
|Auditors:|Jones Avens Limited|
||PiperHouse,4Dukes Court, Bognor Road, Chichester PO19 8FX|
|lnvestment manager:|Rathbone lnvestment Management Limited|
||George House, 50 George Square,Glasgot,G21EH|





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|ve|ar ende|d30Septemb|<br>er2021|||
|---|---|---|---|---|---|
||Note|Unl€strictcd<br>Funds<br>e|Rostricted<br>Funds<br>€|Totalfunds<br>3U9nO21<br>f|Totalfunds<br>301912020<br>f<br>(Note2)|
|lncomefrom:||||||
|Donations and legacies|3|122,283|91,248|213,531|142,888|
|Charitable activities|4|109,278||109,278|124,U9|
|lnvestments|5|135,303|9,983|145,286|181,27',\|
|Other income<br>Total income|6<br>I@||101,231|468,095|4,758<br>453,566|
|Expenditureon:||||||
|Raising funds|7|28,9U|2,O78|31,012|17,930|
|Charitable activities|8|417,756|40,173|457,929|608,410|
|Totalexpendifure<br>Netincome/Gxpenditure) before<br>gains andlosseson<br>investments<br>Net gains (losses) on investments|IrI|446,690<br>(79,826)<br>751,265|12,251<br>58,980<br>56,031|488,941<br>(20,846)<br>807,296|626,340<br>(,t72,7741<br>(750,688)|
|Netincomcr(expenditure)||671"t:}9|115,0{I|785,450|(923,462)|
|Transfers between funds|21|(1,076)|1,078|||
|l{otmovement infunds||670,363|116,087|786,r150|(923,462)|
|Reconciliation offunds:||||||
|Total funds broughtforuard<br>Totalfunds carried forward|I|4,808,8s5<br>5,479,218|530,587<br>646,674|5,339,442<br>6,125,892|6,262,904<br>5,339,442|





|Balance Sheet as at|Balance Sheet as at|30September202'l|30September202'l|||
|---|---|---|---|---|---|
||ltotes|€|Tet<br>Erg:m2r<br>€|f|Tota!<br>30r9r2t)20<br>f|
|FiredAsscts||||||
|lnta.EiHeassets|11||||117|
|lnvestnents|'t5||6,025,689||5,295,539|
|TGIFixedAsscts|||6,025,689||5,295,656|
|CurrentA$cts||||||
|Debtors|17|105,24||71,190||
|C6hon depositardinhand||161,902||162,495||
|TffilGunentAssets||m7,112||236,985||
|Liabalitbs||||||
|Credito6falling due within oneyear|19|166,939||193,199||
|etCurentAssets|||100,203||lr:l,786|
|Totalassetrhsscureot<br>liabililies|||6,125,892||5,3:l9,t142|
|l{et Assets|||6,125,892||5,339,{42|
|The Funds oftfteGharig||||||
|Generalunrestidedincornefunds|21&22|4,673,030||4,197,983||
|Revaluation reserye||806,188||610,872||
|Total unrestrictedincornefunds|||5,179,218||4,808,855|
|General restrictedincone funds|21&22|567,387||501,628||
|Revaluatbnreserve||79,247||28,959||
|TGIr€strictedincornefunds|||645,674||5:X),587|
|TotalGharity Funds|||6,125,892||5,339,.142|





## 

|||Total|Total|
|---|---|---|---|
||Notes|Funds|Funds|
|||m21|2020|
|||€|f,|
|Netcashusedinoperating activities|24|(223,025)|1332,6241|
|Cash f,orusfromiNe6tingactivities||||
|lnterestanddividend income||145,286|181,271|
|Proceeds ftom sale of investments||1,999,623|1,461,553|
|Purchase of investments||(1,922,477)|(1,790,546)|
|Net cashprovidedbyr{uEodin)inv$tingacfvities||222,432|1147,7221|
|Change in cash and cashequivalenbin theyear||(sss)|(480,346)|
|Cash and cash equivalentS brought forward||162,495|u2,841|
|Cash and cashequivalents carried forward||161,002|t62,t195|
|Relatingto:||||
|Cash on deposit andinhand||t6{,902|162,495|





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## 

|||Note|Unr€stricted<br>Funds|Restricted<br>Funds|Totalfunds<br>30/9/20m|
|---|---|---|---|---|---|
||||c.|f,,|t.|
|lncomefrom:||||||
|Donations and legacies||3|118,773|24,115|142,888|
|Charitable activities||4|124,649||124,649|
|lnvestmenls||5|168,660|12,611|181,271|
|Other income||6|4,758||4,758|
|Total income|||4't6,840|36,726|4s3,566|
|Expenditureon:||||||
|Raising funds||7|16,748|1,182|17,930|
|Charitable activities||o|474,720|133,690|608,410|
|Total expenditure|||491,t168|134,Vt2|626,340|
|Netincome(expenditure) before||||||
|gainsand loaaeson<br>investnentS|||174,6281|(98,r{6)|1172,7741|
|Net gains (losses) on investments|||(697,987)|(52,701)|(750,688)|
|Netincome/(expenditur€)|||1772,6151|(150,847)|1923,46'21|
|Netmovement infunds|||(772,61s1|(150,847)|(s23,462)|
|Reconciliationoffunds:||||||
|Total funds broughtfonrard|||5,581,470|681,434|6,262,9U|
|Totalfunds cerriodfor*erd|I||4,808,855|530,587|5,33g,42|





## 

||Funds||||||
|---|---|---|---|---|---|---|
||transferred in||||||
||fromBranch|Member|||||
||member|organisation|Ottrer||Total|Total|
||organisations|donations<br>I|donations<br>t|Legacies<br>€|2021<br>c|2020<br>f,|
|GeneralFund|||10,677|23,939|34,616|22,666|
|Elizabeth<br>Fund<br>ClayMemorial||||67,374|67,374|8?,927|
|Branch Designated funds|||19,793|500|20,293|13,180|
|Total unrestrictedfunds|||30,470|91,813|122,283|118,773|
|Research Fund||500|345|25,224|26,069|2,219|
|Robert Wainwright Fund||||60,000|60,000||
|Branch Restricted funds|5,179||||5,179|21,896|
|Total restricted funds|5,179|500|345|85,224|91,248|24,115|
|Totel2021|5,179|500|30,8{5|177,037|2{3,53{||
|Totat 2020|21,500|500|24,590|96,298||142,888|





## 

||Unre.ficted<br>funds<br>€|Rcatricted<br>funds<br>€|Total 202{<br>E|Total2020<br>€|
|---|---|---|---|---|
|lA Journal|44,920||44,920|45,138|
|Annual (National Council) meeting|||||
|Member organisation annual subscriptions|30,951||30,951|32,274|
|Member subscriptions|33,407||33,407|47,075|
|Pouch lnformation Day||||162|
|Total|109,278||109,278|124,649|
|Total 2020|124,U9|||124,U9|



## 

||2021<br>€|2020t|
|---|---|---|
|UK listed investments|145,286|181,271|
|Bank interest|||
|Total|145,285|181,271|



## 

||2021t|2020<br>€|
|---|---|---|
|Coronavirus Job Retention Scheme grant||4,758|
|Total||4,758|





## 

||2021I|2020<br>I|
|---|---|---|
|lnvestment management c€sts|30,434|17,352|
|Online fundraising costs|578|578|
|Total|31,O12|17,930|



## 

||Note||2021<br>€|2020t|
|---|---|---|---|---|
|lAJournal (including distribution costs)|||53,535|53,738|
|Grants and donations||I|20,851|105,523|
|Annual (National Council) meeting (apportioned)|||1,185|476|
|YounglAactivities|||3'18||
|lnternal Pouch Group activities||||2,782|
|Visitor training|||1,110|807|
|Publicity & promotion|||71,768|89,942|
|lnformation sheets & booklets|||241|1,187|
|Nationaloffice (apportioned)|||144,783|159,609|
|Charitable activities|||91|3,028|
|Branch member organisation activities|||27,835|32,956|
|Support costs|1|0|8,273|12,6U|
|Governance costs|11||127,939|145,678|
|Total|||457,929|608,410|





## 

||2021|2020|
|---|---|---|
||C|f,|
|Grantstoindividuals|8,850|11,880|
|Grantstoinstitutions and organisations (see below)|10,300|9't,709|
|GrantstolA member organisations|1,308|804|
|Other donations|393|1,'130|
|Total|20,851|105,523|



## 

|ecipients of grantstoinstitutions and organisations were:||
|---|---|
||f,|
|TheAssociationofColoproctologyofGreat Britainandlreland: Grantfor|10,300|
|maintenance oftheNational Pouch Registry||



## 

||m21|2020|
|---|---|---|
||€|€|
|lAJoumal|3,105|2,972|
|Annual (National Council)<br>meeting (apportioned)||380|
|Publicity&promotion||4,793|
|YounglA|120||
|lntemalPouch|120|30|
|Charitable activities|4,928|4,509|
|Total|8,273|12,684|





## 

||2021|2020|2020|
|---|---|---|---|
||€|f||
|National office (apportioned)|111,769|1|18,590|
|Annual (National Council)<br>meeting (apportioned)|1,173||95|
|Other administrative meetings|5||2,541|
|Audit fee|3,700||3,600|
|lnsurance|3,350||2,690|
|Bank charges&currency<br>costs|812||1,056|
|Legalcosts|1,513||7,078|
|Other expenses|5,617||10,o27|
|Total|127,939|145,678||



||2021|2020|
|---|---|---|
||f|€|
|Salariesandwages|162,083|174,597|
|Social security costs|12,354|13,238|
|Pension costs|20,499|17,473|
|Other benefits|4,403|4,608|
|Agency/contractstafi|16,765|15,297|
|Total|216,104|225,213|






## 



## 

||Total||
|---|---|---|
||€||
|Softcrare|||
|Cost|||
|At1October 2020||6,211|
|Additions|||
|At30September202t||6,211|
|Amortisation|||
|At1October 2020||6,094|
|Charge for theyear||117|
|At30September2021||6,211|
|I'let bookvalue|||
|At 30 September 2020||117|
|At 30 September2021|||





## 

|Movements on investments for theyearen|ded30SeptembP-r 2021|were asshorrn|
|---|---|---|
|illarketvaluebasis|2021<br>€|2020<br>€|
|Quotedinvestments|||
|Brought forward|5,295,539|5,717,234|
|Additions|1,922,477|1,790,546|
|Disposalsatcarrying value|(1,828,U2)|(1,666,568)|
|Unrealisedgains/losses|635,715|(545,673)|
|At marketvalue30s September|6,025,689|5,295,539|
|At cost 30 September|5,110,214|4,655,708|



|<br>allocated tofundson the basis<br>follows:|of thecost|<br> input by each fund.At1October 2019,th|esplitwa|
|---|---|---|---|
|Capital lnvestment Fund|87.U%|ResearchFund|6.64Yo|
|GeneralFund|0.00o/o|Welfare Fund|0.46%|
|Etizabeth Clay Mernorial Fund|5.18%|Bryan N. Brooke (lA) Overseas Travel<br>Fund|0.18%|





## 

|I6FINANCIALINSTRUT,IENTS|||
|---|---|---|
||2021<br>f|2020<br>t|
|Carryingvalueof financial assets|||
|lnstrumerismeasuredatfair value throughprofitand loss|6,025,689|5,295,539|



## 

|Amountsfallingduewithinoneyear:|2021<br>f,|2020<br>€|
|---|---|---|
|Legacies due|68,042||
|Prepayments|3,255|4,539|
|Other debtors|19,501|24,110|
|Duefiombranch member organisations|10,942|42,y1|
|Rentdeposit|3,500|3,500|
|Total|105,240|74,490|



## 

## 

||m.21|2020|
|---|---|---|
||€|€|
|Accruals|34,715|30,601|
|Deferred income||1,012|
|Researchprojects|113,210|146,333|
|Taxation and social security|4 1<br>1|4,585|
|Dueto branch member organisations|758|638|
|Other creditors|14,135|10,030|
|Total|166,939|193,199|





## 

## 



## 

|Forthe financialyo|arerdod30Se|ptember20|2t||||
|---|---|---|---|---|---|---|
|||||Gains/|||
||Balance<br>tn0120<br>€|lncome<br>€|Expenditute<br>t|(locs6)on<br>investment<br>asaets|Transferc<br>beeen<br>funds|Balance<br>3[J,,9no21<br>€|
|||||e|||
|Unrestrictad funds|||||||
|General|231,'106|23"t,384|441,159||189,124|210,455|
|Capital lnvestment|4,420,790|||711,4'11|(30,119)|5,102,O82|
|Elizabeth Clay<br>Memorial|47,461|74,475|2,785|39,854|(159,005)||
|Branch Designated|109,498|61,005|2,746||(1,076)|166,681|
|Totalunrestcted<br>funds|4,808,855|366,864|tt46,690|751,265|(1,076)|5,179,218|
|Restrictedfunds|||||||
|Research|45,960|35,175|12,196|51,107||120,046|
|Welfare|32,375|626|130|3,517||36,388|
|Bryan N Brooke(lA)<br>Overseas Travel|18,931|251|52|1,407||20,537|
|Young lA Bursary|5,230|||||5,230|
|The VictoriaWills lA<br>lntemal Pouch|1,813|||||1,813|
|lAAnnual Award for<br>lnnovation|571|||||571|
|RobertWainwright||60,000||||60,000|
|Branch Restricted|425,707|5,179|29,873||1,076|402,089|
|Total restricted<br>funds|530,587|t0t,231|42,251|56,031|1,076|646,674|
|Totalfunds|5,339,42|2t68,095|188,941|807,296||6,125,892|





|Forthe ftnancialye|ar ended30Sep|tcmber20|20||||
|---|---|---|---|---|---|---|
|||||Gains/|||
||Balance<br>1t10t19<br>f|lncome<br>€|Expenditrre<br>E|(loa3es)on<br>investment<br>aaaots<br>t|Tranefers<br>betrveen<br>funds|Balance<br>30flJ,t2020<br>€|
|Unrestricted funds|||||||
|General|228,533|258.1U|488,8r9||233,228|231,106|
|Capital lnvestment|5,081,291|||(660,501)||4,420,790|
|ElzabethClay<br>Memorial|227,740|91,897|'l,462|(37,486)|(233,228)|47,461|
|Branch Designated|43,906|66,779|1,187|||109,498|
|Totalunr$ficted<br>fundS|5,58r,470|4{6,840|491,468|(697,987)||4,808,855|
|Restricted funds|||||||
|Research|173,095|13,722|92,7A7|(48,070)||45,960|
|Welfare|35,466|791|574|(3,308)||32,375|
|Bryan N Brooke (lA)<br>Overseas Travel|20,221|317|284|(1,32s)||18,931|
|Young lA Bursary|5,230|||||5,230|
|The Victoria WillslA|1,813|||||'t,813|
|lntemal Pouch|||||||
|lA Annual Awardfor<br>Innovation|571|||||571|
|Branch Restricted|445,038|21,896|41,227|||425,707|
|Total restricted<br>funds|681,434|36,726|134,872|(52,70r)||530,587|
|Totalfunds|6,262,904|453,566|626,3/f0|(7s0,688)||s,339,442|





## 

|||NetCurrent|||
|---|---|---|---|---|
||FixedA$etg|Assets,<br>(Lisbilities)|Long Term<br>Liabilities|Total<br>3019t2021|
||€|€|€|C|
|Unrestricted funds|||||
|General||210,455||210,455|
|Capital lnvestment|4,939,168|162,914||5,102.082|
|Elizabeth Clay Memorial|292.265|(292,2651|||
|Branch Designated||166,681||166,681|
|Totalunrestricted funds|5,23r,433|247,785||5,479,218|
|Restrictedfunds|||||
|Research|374,U1|(254,595)||120,046|
|Welfare|25,9*|10,4v||36,388|
|Bryan N Brooke(lA)Overseas<br>Travel|10,156|10,38'l||20,537|
|Young lA Bursary||5,230||5,230|
|The VictoriaWillslA lnternal<br>Pouch Bursary||1,813||1,813|
|lAAnnual Awardforlnnovation||571||571|
|Robert Wainwright||60,000||60,000|
|Branch Restricted|383 ,505|18,584||402,089|
|TotalrGtrictedfunds|794,256|(47,5e21||646,674|
|Totalfunds|6,025,689|100,203||6,125,892|





|||ItletCurent|||
|---|---|---|---|---|
|||Assets/|Long Term|Total|
||FixedAssets|(Liabilities)|Liabilities|3019t2020|
||€|e|f,|E|
|Unrestrictedfunds|||||
|General||231,'106||231,106|
|Capital lnvestment|4,331,075|89,715||4,420,790|
|Elizabeth Clay Memorial|256,399|(208,938)||47,461|
|Branch Designated||109,498||109,498|
|Totalu nreetricted funds|4,587,174|221,381||4,808,855|
|Restrictedfunds|||||
|Research|328,s',t7|(282,557)||45,960|
|Welfare|22,758|9,617||32,375|
|Bryan N Brooke (lA) Overseas<br>Travel|8,906|10,o25||'t8,931|
|Young lA Bursary||5,230||5,230|
|The VictoriaWllslA lntemal<br>Pouch Bursary||1,813||1,813|
|lAAnnual Award for lnnovation||571||571|
|Branch Restricted|348,001|77,706||425,707|
|Total restdctedfunds|708,{82|(177,595)||530,587|
|Totalfunds|5,295,656|tl:t,786||5,339,442|
|Unrealisedgainson investrnent|assets included above:||||
||2021||2020||
||g||E||
|Unrestricted funds|806,188||610,872||
|Restricted funds|79,287||28,959||
|Total|885,475||539,831||



## 

## 



|Paymentdue|2021<br>f,|2020<br>€|
|---|---|---|
|Nolater than oneyear|15,000|4,814|
|Laterthanoneyear and not later lhan fiveyears|49,583||
|Total|64,583|4,814|





## 

||2021|2020|
|---|---|---|
||€|e|
|Netincome/(expenditure) for the reporting period<br>(asperthestatement of financial activities)|786,.(i0|1923,1621|
|Adiustments for:|||
|Add back depreciation on intangible fixed assets|117|2,802|
|Deduct interest income shown in investing activities|(14s,286)|('t8't,271)|
|Deductgainyaddback losses oninvestmenk|(635,715)|546,575|
|Loss/(profit) on the sale of investments|(171,581)|2U,113|
|(lncrease)/decreaseindebtors|(30,750)|(23,874)|
|lncrease/(decrease)increditors|(26,260)|42,493|
|Netcashused inoperatingactivities|1223,Ozsl|1332,6241|



## 

##