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2020-12-31-accounts

Trustees’ report and financial statements for the year ended 31 December 2020

THE SOCIETY OF OCCUPATIONAL MEDICINE

Contents

Signal Boost

Welcome to our Signal Boost project – a weekly page for charitable organisations to get their message out to a global audience, free of charge. Today, a message from The Society of Occupational Medicine

Page

Annual Report

Professor Anne Harriss – President . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Nick Pahl – CEO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Dr Sheetal Chavda – Honorary Treasurer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Legal and Administrative Details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 SOM Strategy / Strategic Support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Statement of Trustees’ Responsibilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 Independent Auditor’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 Statement of Financial Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 Consolidated Statement of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24 Notes to the Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25–39 Corporate Supporters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .40 SOM Structure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41

The Society of Occupational Medicine (SOM) issues such as PPE with regulators and Recent reports include a research synthesis was established in 1935 as a professional Government and the need for universal access around the mental health of doctors and the charity to support occupational and workplace to occupational health has been highlighted value of occupational health research. health. It informs policymakers, employers, and during this covid-19 crisis. employees as to evidence-based approaches to Recently, SOM convened multidisciplinary SOM is a small charity and needs support to: workplace health, supporting improvement in expert groups, producing evidence-based • Fund research that promotes, protects, and current policies. toolkits for people returning to work with improves good health at work during and after Through its journal, Occupational Medicine , organisations such as Acas, the Chartered the covid-19 pandemic. SOM tackles the most pressing issues facing Institute of Personnel Development, the mental occupational and workplace health today such health charity Mind and Business in the • Increase its capacity to offer evidence-based as reviewing the evidence on airborne Community. Currently, with partners, a “covid guidance on key issues (such as protecting gig transmission of covid-19, the best approaches age” tool is being developed that helps assess economy workers) to Government. to control covid-19 transmission in hospitals an individual’s overall vulnerability to covid-19. • Draw together multidisciplinary expertise to and support staff. SOM also supports potential SOM commissions leading researchers at identify and tackle new issues arising in the authors and trains article reviewers. universities and research institutes to improve workplace such as the best way to improve During the covid-19 lockdown, SOM understanding of key workplace health issues. mental health at work. campaigned to protect health care workers, highlighting the confliction between their duty Want to help? to care for patients and the need to protect For more information go to som.org.uk. To donate, themselves and loved ones. SOM has supported telephone 0203 910 4534 or email finance@som.org.uk. the development of more effective policies on We can claim gift aid for UK taxpayers

Above: The SOM was featured in New Scientist in October 2020

Front cover: The SOM hosted a workplace visit with Occupational Health Trainees to RAF Henlow in February 2020

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REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

President’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

President’s report

Professor Anne Harriss

The effects of COVID-19 have been horrendous for many who have lost friends, relatives, and colleagues . However, COVID-19 has been an opportunity for occupational health professionals to demonstrate their value; and, from the perspective of being President of SOM, for SOM to demonstrate its value to members .

Thanks are due to all of you who have worked with us over the last year, particularly those who have helped to produce toolkits and webinars . Several SOM resources have been developed with organisations, including, but not restricted to the Royal College of Psychiatrists, Chartered Institute of Personnel and Development, Mind and Business in the Community . I would particularly like to thank Professor Gail Kinman, an occupational psychologist, who was integral to developing two SOM publications – The Mental Health and Wellbeing of Nurses and Midwives in the United Kingdom and Responding to the death by suicide of a colleague in Primary Care: A postvention framework.

COVID-19 brought workplace health to the forefront, providing SOM with opportunities such as multidisciplinary meetings with the Health and Safety Executive and Faculties of Occupational Medicine, Occupational Health Nursing, and Public Health . I have also been involved in supporting the Nursing and Midwifery Council with its consultation on its proposed standards for registration for Specialist Community Public Health Nurses .

SOM members have stepped up to the plate during this pandemic . Many members also contribute to our fantastic Journal . A particular thanks to our Honorary Editor, Dr Steven Nimmo . It is the SOM members that make SOM the organisation that it is . I am also pleased to see that SOM membership has increased; we continue to welcome members from across a range of professions, including medicine, nursing, allied health, and vocational rehabilitation .

Our strategic aims are that: SOM attracts and retains members and supports their professional development; SOM is recognised as the leading voice for collaboration and partnership with others; and effective management of SOM . These objectives have largely been achieved and a review will occur to carry SOM forward . In 2021 I will be handing the baton on to Dr Jayne Moore . I hope that she has an equally fulfilling Presidency .

I would like to acknowledge the work of SOM regional groups in the UK and internationally . Every year SOM recognises the work of one regional group who has seen the largest increase in membership . In 2020 we acknowledged the success of two groups: the Yorkshire and the North West Regional Groups .

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THE SOCIETY OF OCCUPATIONAL MEDICINE

CEO's report

CEO’s report Nick Pahl

As the pandemic hit, the pace of responsiveness multiplied . SOM needed to be “just in time” and the office team moved to work (very effectively) at home . A wider team emerged led by SOM, of SOM members and professionals from different disciplines and organisations . Subgroups on PPE and mental health at work were formed . New communication channels opened with daily briefs, weekly webinars, and frontline networks .

Occupational Medicine experts such as Professor Ewan Macdonald, quickly “called out” the Government’s position on PPE standards and supply . We knew little about COVID -19 though, for example in terms of transmission mechanisms . SOM hosted a webinar with an Italian occupational medicine expert, sadly “ahead” of the UK in terms of COVID impact, as to what they were experiencing . It was inspiring to see leadership by SOM members – from helping set up Nightingale Hospitals to NHS volunteering . Thankfully, NHS England also put in place new procurement mechanisms to support expansion of NHS OH teams .

In April, we moved to a focus on awareness of controlling risks to healthcare professionals . Dr Will Ponsonby, then SOM President, publicly rejected the Government’s rhetoric of professionals on a front line “war” . Instead, we campaigned with the BMA and others “that no healthcare worker should die of COVID transmission” if proper controls are in place . We focused on rationality, objective truth and weighing up the evidence .

With the end of the initial lockdown in June, SOM focused on safe return to work . New partnerships emerged with organisations such as the Bevan Commission, Mind, CIPD, BITC and Acas, offering a joint return to work toolkit . In July we launched a new report on the mental health of nurses and midwives (supported by the RCN Foundation) .

In October, we were pleased that SOM was profiled in New Scientist magazine . However, pressures quickly re-started in terms of questions on testing, and risk of COVID transmission . With the University of Glasgow, we hosted a summit on approaches to risk in November with leading academics such as Professor Sir David Spiegelhalter .

Despite these challenges, members continued to receive SOM services such as the Journal, Appraisals, and we continued to host special interest group meetings on issues such as HAVS, sleep, MSK, CESR and MFOM revision . We also showed international solidarity with partners in India, Ireland, and via the International Occupational Medicine Society Collaborative . We hosted webinars for 5,400 people and membership grew to 1,860 .

In 2021, a focus will be on Long COVID, supporting OH leaders through mentoring and training, and to continue our Government lobbying . I am very grateful for the support and expertise from SOM members, Council, the Board and of course to the staff team who have been so professional, good natured and flexible .

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THE SOCIETY OF OCCUPATIONAL MEDICINE

Honorary Treasurer's report

Honorary Treasurer’s Report

Dr Sheetal Chavda

In a difficult year, SOM achieved a surplus, with effective cost control and membership growth . A saving on premises costs occurred as SOM moved offices the previous year and there was also a reduction in travel costs .

There has also been an encouraging diversification of income streams from areas such as webinars, corporate supporters, and sponsorship income . Journal income and expenditure was slightly ahead of target . Appraisal income and expenditure continue to be aligned .

SOM is also grateful for the income from sponsors of its awards . There was also encouraging job advertisement income . Investment returns are in addition to the surplus .

Member service costs fell due to a significant reduction in meeting room costs and less expenditure on website maintenance .

I am grateful to our finance manager Sujal Naik for his hard work in preparing the year's accounts, and to PKF Littlejohn for their thorough and supportive auditing of the accounts .

Dr Sheetal Chavda, SOM Honorary Treasurer, is Chair of the SOM Diversity and Inclusion Task Force. The Task Force have been addressing the importance of this issue with key stakeholders – including a focus on risk assessments with COVID-19. There have been health system wide gaps on ensuring these occur, despite assurances.

Dr Chavda has been in discussion with organisations such as NHS Employers, the BMA, GMC, RCN, and Professional Standards Authority.

Webinars on this key issue have been held and plans are in place to carry out research, develop and disseminate further resources.

A SOM Board statement has also been issued.

Logo: Louis Prado; the Noun Project

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Legal information

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

SOM strategy / Strategic report

Legal and administrative details for the year ended 31 December 2020

Professor Anne Harriss Dr David McLoughlin Dr Will Ponsonby Dr Jayne Moore Dr Anthony Mawson Dr Rae-Wen Chang Dr Sheetal Chavda Dr Rick Taylor Dr Vicky Mason Mr Charles Alberts (to June 2020) Professor Neil Greenberg (from June 2020) Mr Shaun Davis Mr Richard Sheret

President (from June 2020)

Trustees

Past President (from June 2019–June 2020) President (from June 2019–June 2020) President elect (from June 2020) Honorary Secretary (until June 2020) Honorary Secretary (from July 2020) Honorary Treasurer (from June 2019) Chair of Council (to June 2020)

Chair of Council (from June 2020) (to June 2020)

Honorary Strategic Clinical Advisers – Christine Poulter and Dr Lali Japaridze

The Society of Occupational Medicine is a registered charity in England & Wales (1965) and Scotland (2010)

Status

Governing document

The charity constitution was revised in June 2017 and the Company Constitution was approved in June 2018

Charity and England 1184142; Scotland SC041935; company numbers Company no 11380861 Registered office 2 St Andrews Place, London, NW1 4LB Bank Lloyds Bank plc Kings Cross Branch PO Box 1000 BX1 1LP

Auditors

PKF LittleJohn LLP 15 Westferry Circus Canary Wharf London E14 4HD

Investment managers Investec Wealth & Investment Limited 30 Gresham Street London EC2V 7QN Solicitors Hempsons Solicitors Hempsons House 40 Villiers Street, London WC2N 6NJ

Awards

Honorary Membership

Esso Prize

Shift work and ischaemic heart disease: meta–analysis and dose–response relationship by Man Cheng, Heng He, Dongming Wang, Luli Xu, Bin Wang, Kim Myong Ho and Weihong Chen published 29th March 2019 .

Dr Ivan Ivanov, WHO Dame Donna Kinnair, RCN CEO

Golden Jubilee Award Dr Duncan Parker

----- Start of picture text -----
SOM Occupational
Health Awards
Join us in this celebration of the superb
work that occupational health professionals
undertake every day. The SOM Occupational
Health Awards showcase occupational
health – demonstrating the
value of occupational health
to organisations and the
wider community.
----- End of picture text -----

SOM's Occupational Health Awards occurred on 5th November 2020 . The Outstanding Occupational Health Initiative award was won by IPRS and was sponsored by SOM Corporate Supporter Medigold Health

The Outstanding Contribution by an Employer to Workplace Health and Wellbeing award was won by Health Management with London Fire Brigade and was sponsored by NEBOSH

The Outstanding Occupational Health Team award was won by Newcastle OHS and was sponsored by SOM Corporate Supporter Civica (formerly Warwick International) .

The Outstanding Occupational Health Practitioner award was won by Dr Laran Chetty and was sponsored by Health Management .

A special commendation was given to OHWorks .

A special commendation was given to Rachel Dunbar-Rees .

COVID award winner – Dr Tony Williams, MA MB, BChir, FFOM

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THE SOCIETY OF OCCUPATIONAL MEDICINE

SOM strategy / Strategic report

Examples of SOM Webinars in 2020

Mental health in the

workplace – Emma Mamo, Mind

Mental health of nurses report – Professor Gail Kinman / Dr Kevin Teoh

MSK and Work – Joe Loftus, Occupational Health Physiotherapist

Supporting patients with musculoskeletal conditions to remain in work – Professor Gary McFarlane, University of Aberdeen

How to set up your own OH practice – Dr Honor Abaecheta and Louise Trotter

Beryllium – Kathryn Creek

Long COVID – Dr Clare Rayner

Health professionals in difficulty – Professor Gail Kinman, Birkbeck, University of London

COVID & Travel Medicine – Dr Dipti Patel

Employment law and workplace health – Lindsey Cartwright, Morton Fraser Lawyers

Achievements

SOM

communications reach

2,061 followers on Twitter, 5,006 followers on LinkedIn and 690 followers on Facebook

Journal achievements

Citation distribution, 2015-2020

Citation distribution, 2015-2020 Citation distribution, 2015-2020 Citation distribution, 2015-2020 Citation distribution, 2015-2020 Citation distribution, 2015-2020 Citation distribution, 2015-2020 Citation distribution, 2015-2020 Citation distribution, 2015-2020
Year of
publication		 Articles
published		 Citations in
2015		 Citations
in 2016		 Citations
in 2017		 Citations
in 2018		 Citations
2019		 Citations
in 2020
2015 168 73 146 205 224 321 344
2016 173 65 121 175 258 288
2017 169 33 99 197 259
2018 151 38 133 161
2019 146 51 103
2020 194 246

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THE SOCIETY OF OCCUPATIONAL MEDICINE

SOM strategy / Strategic report

Objects of the Charity

SOM was previously established as an unincorporated charity and Trustees agreed to move to a more modern Charitable Company Limited by Guarantee at its AGM in 2017, with the new constitution agreed in 2018 . The Charity was launched in January 2020, following registration of the Charity with the Charities Commission and Companies House .

The Society’s objects are:

A new strategy for 2020-23 was signed off in 2019 . The majority of the SOM’s funds are raised through membership subscriptions . Results for the year show income of £183,458 (2019: £103,698) . Funds of the Group as of 31 December 2020 amounted to £958,973 (2019: £775,515) .

Organisational structure

The SOM employs 6 staff: a CEO, a finance manager, an operations and membership manager, an assistant editor, a communications

and events manager, an appraisal and membership co-ordinator . Dr Nerys Williams advises on appraisals .

Related parties and connected organisations

The SOM is not involved as a legal entity with any other parties except by membership and through contracts for services . The SOM is an independent organisation . It has a subsidiary company, SOM Enterprises, that supports activity relating to VAT such as appraisals and job advertisements

Accounting policies

Investment powers and policy

The Trustees reviewed and approved the Investment policies in June 2020 . The Charity has appointed its investment managers to provide a discretionary portfolio management service . The investment objective is for a longterm positive return and is a balance between income and capital growth, generated with a low – moderate level of risk, and the interest generated by the income . The investment objective of the Golden Jubilee Award is for a long-term positive return and is a balance between income and capital growth generated, with a moderate level of risk, and the interest generated by the income . The investment objective of the SOM Portfolio is for a longterm positive return and is to maximise capital growth with a low – moderate level of risk . The performance in the financial year was affected by fluctuations in the stock market but was generally in line with expectations with a modest growth . Trustees annually review performance and appetite for risk and there were no change risk level views in 2020 .

Dr Ivan Ivanov was given an Honorary membership of the SOM at its 2020 AGM

Golden Jubilee Fund

end amounted to £581,749 considering the net book value of fixed assets . This exceeds 5 months’ core expenditure and is satisfactory . The reserves policy was reviewed by the Board in June 2020 .

The purpose of the Golden Jubilee Fund is to provide an award in the order of £4,000 for a travelling research project each year .

Reserves Policy and concern re COVID-19

Policy for Awards and Prizes

Following a special Board meeting in April 2020, the SOM Board reviewed a revised budget . SOM Trustees agreed that COVID-19 did not represent a material uncertainty on the entity’s ability to continue as a going concern .

All awards and prizes are approved directly by Trustees or under the direction of Trustees . All awards and prizes are made singly and do not support activity projected to last beyond one financial year . The policy was reviewed by the Board in June 2020 .

SOM’s reserves support the SOM’s aim to provide the necessary infrastructure with respect to administration and premises . Regular meetings with the SOM’s investment managers to review the portfolios take place to ensure that an appropriate, ethical, and productive reserves policy is maintained . Funds can then be available to support the charity’s aims and objectives and to facilitate improved administrative processes, through modernisation of information technology systems, and to support the educational activities of the Society’s regional groups . This investment in turn supports the membership and promotes good practice and governance . It is the Society’s target to maintain a level of free reserves to cover six months core expenditure . Free reserves in the Central Fund at the year-

Risk Statement

The Charity Commission requires the Trustees examine the major risks to which the SOM is exposed and to establish systems to mitigate these risks . Key risks include competition from other membership organisations, and age range of members, spreading the range of income sources, and ensuring the correct level of risk for investments, The Chief Executive regularly reviews the register of risks . Additionally, the register is reviewed in detail at every Meeting of the Trustees . It has been reviewed again this year and improvements made to reflect the changing external environment and best practice in the charities sector .

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THE SOCIETY OF OCCUPATIONAL MEDICINE

SOM strategy / Strategic report

Public benefit statement

and fulfilling life . It supports employers and employees in the promotion and maintenance of health at work . It also works in collaboration with other professional groups with interest in workplace and environmental health in the United Kingdom and abroad . The Trustees consider that the charity has complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission .

The SOM’s activities focus on practical support for health professionals practising occupational medicine, the specialty of workplace health and wellbeing, and allied occupational health professionals involved in the health of the working age population . It promotes the principle that work is a cornerstone of a healthy

Appointment of Trustees

Under the terms of the SOM’s Constitution, by virtue of their office, the Trustees elected by the membership, are the President, the Immediate Past President and the President Elect and the period of office is one year each; the Honorary Secretary and Honorary Treasurer elected by the membership for one year and shall be eligible respectively for re-election for a second, third, fourth and fifth consecutive year of office . These substantive officers are charged with conducting the affairs of the Society, empowered to act for the SOM in all matters but shall be bound by any policy of decision or direction received from the Council . The other members are the Chair of the SOM Council and

Dr Will Ponsonby, SOM Past President with his Past President’s medal

Deepa Korea, RCN Foundation director

Far left: The report and steering group of the mental health of nurses and midwives report, supported by the RCN Foundation. Left: SOM Council members at a SOM Away Day

up to 3 co-opted members who shall serve for three years, renewed for up to another 3 years . All members shall cease to be Trustees on completion of their term of office .

Induction

On election/appointment, each new trustee is given an induction pack of essential information: a trustee role description, the governing document, annual reports and accounts and minutes of previous trustee meetings . A new trustee is given the opportunity to find out about the organisation through meetings with key members of staff and visiting the administrative offices for briefings . External training is also provided .

Auditors

PKF Littlejohn were appointed auditors in 2017 and a resolution to re-appoint the 2020 auditors of the charity was agreed at the Annual General Meeting in June 2020 .

The July 2020 issue of Occupational Medicine was devoted to COVID-19

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REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees' responsibilities

Independent auditor’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Statement of Trustees’ responsibilities

accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the group and parent charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 and regulations made thereunder . They are also responsible for safeguarding the assets of the group and parent 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 financial information included on the charity's website . Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other information included in annual reports may differ from legislation in other jurisdictions .

The Trustees (who are also Directors of The Society of Occupational Medicine for the purposes of company law) are responsible for preparing the Trustees’ Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) .

Company and Charity law requires the Trustees to prepare Financial Statements for each financial year . Under that law the Trustees have elected to prepare the Financial Statements in accordance with the Charities’ Statement of Recommended Practice, Accounting and Reporting by Charities and United Kingdom Financial Reporting and Accounting Standards . Under Company and Charity law the Trustees must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the situation of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure of the Charitable Company for that period . In preparing these Financial Statements, the Trustees are required to:

Provision of information to auditors

So far as each of the Trustees and directors at the time the report is approved are aware: a) there is no relevant audit information of which the auditors are unaware and,

b) that they have taken all the steps they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information .

This report was approved and authorised by the Trustees on 23 June 2021 and signed on their behalf by

Dr Sheetal Chavda Dr Rae Wen Chang Honorary Treasurer Honorary Secretary

The Trustees are responsible for keeping proper

Independent auditors report to the Trustees of The Society of Occupational Medicine

Opinion

We have audited the financial statements of The Society of Occupational Medicine (the ‘charitable company’) for the year ended 31 December 2020 which comprise Consolidated Statement of Financial Activities, the Parent Charity Statement of Financial Activities, the Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies . The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) .

We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements . We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion .

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate .

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue .

In our opinion the financial statements:

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report .

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon . The trustees are responsible for the other information contained within the trustees’ annual report . Our opinion on the charitable company financial statements does not cover the other information and we do not express any form of assurance conclusion thereon . Our responsibility is to read the other

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law . Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report .

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REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Independent auditor’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated . If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves . If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact .

We have nothing to report in this regard .

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ annual report .

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error .

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so .

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance

with the Acts and relevant regulations made or having effect thereunder .

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion . Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs

(UK) will always detect a material misstatement when it exists . Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements .

Irregularities, including fraud, are instances of non-compliance with laws and regulations . We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud . The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Standard 102, and relevant employee legislation .

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation . This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance . The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation .

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website

18 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

19

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Independent auditor’s report

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

at: www frc org uk/auditorsresponsibilities . This description forms part of our auditor’s report .

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006 . Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Alastair Duke

(Senior statutory auditor)

For and on behalf of

PKF Littlejohn LLP

15 Westferry Circus Statutory auditor Canary Wharf London E14 4HD

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2021

PKF Littlejohn LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

Note
Income and endowments from:
Donations and legacies
3
Charitable activities:
4
Member services
Member meetings
The Journal
Quality Assured Appraisal Scheme
Investment income
5
Other trading activities
6
Total Income
Expenditure on:
Raising funds
7
Charitable activities:
7
Member services
Member meetings
Journal costs
Quality Assured Appraisal Scheme
Other
Other:
Awards and prizes
9
Corporate afairs
7
Commercial trading costs
7
Total expenditure
Net income before net gains
on investments
Realised and Unrealised gains
Net income
for the year
8
Net movement in funds
Reconciliation of funds:
Total funds brought forward

Total funds carried forward
1		 Permanent
Restated
Group
CentralDesignated Endowment
2020
2019
Funds
Funds
Funds
Fund
Total
Total
£
£
£
£
£
£
–
–
–
–
–
25,000
–
303,714
–
–
303,714
266,702
2,717
–
–
–
2,717
–
–
174,167
–
–
174,167
161,284
–
173,240
–
–
173,240
257,890
–
8,830
1,438
–
10,268
12,916
–
160,278
–
–
160,278
205,797
2,717
820,229
1,438
–
824,384
929,589
–
5,927
761
–
6,688
6,489
–
153,355
–
–
153,355
163,160
–
51,517
–
–
51,517
60,722
–
177,161
–
–
177,161
178,609
–
177,412
–
–
177,412
273,282
–
–
–
–
–
25,000
–
–
–
–
–
10,480
–
73,329
–
–
73,329
105,287
–
31,122
–
–
31,122
63,854
–
669,823
761
–
670,584
886,883
2,717
150,406
677
–
153,800
42,706
–
16,390
4,631
8,637
29,658
60,992
2,717
166,796
5,308
8,637
183,458
103,698
2,717
166,796
5,308
8,637
183,458
103,698
97,597
431,707
88,277
157,934
775,515
671,817
00,314
598,503
93,585
166,571
958,973
775,515

All amounts relate to continuing operations . The Group has no other gains or losses other than the result for the period .

20 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

21

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

Parent Charity Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020



Note
Income and endowments from:
Donations and legacies
3
Charitable activities:
4
Member services
Member meetings
The Journal
Quality Assured Appraisal Scheme
Investment income
5
Other income
6
Total Income
Expenditure on:
Raising funds
7
Charitable activities:
7
Member services
Member meetings
Journal costs
Quality Assured Appraisal Scheme
Other
Other:
Awards and prizes
10
Corporate afairs
7
Total expenditure
Net income before net gains
on investments
Realised and Unrealised gains
Net income for the year
8
Net movement in funds
Reconciliation of funds:
Total funds brought forward

Total funds carried forward		 Permanent
Restated
Group
Central
Designated Endowment
2020
2019
Funds
Funds
Funds
Fund
Total
Total
£
£
£
£
£
£
–
–
–
–
–
25,000
–
303,714
–
–
303,714
266,702
2,717
–
–
–
2,717
–
–
174,167
–
–
174,167
161,284
–
173,240
–
–
173,240
257,890
–
8,830
1,438
–
10,268
12,916
–
129,156
–
–
129,156
104,607
2,717
789,107
1,438
–
793,262
828,399
–
5,927
761
–
6,688
6,489
–
153,355
–
–
153,355
163,160
–
51,517
–
–
51,517
60,722
–
177,161
–
–
177,161
178,609
–
177,412
–
–
177,412
273,282
–
–
–
–
–
25,000
–
–
–
–
–
10 480
–
73,329
–
–
73,329
105,287
–
638,701
761
–
639,462
823,029
2,717
789,107
1,438
–
793,262
828,399
–
5,927
761
–
6,688
6,489
–
153,355
–
–
153,355
163,160
–
51,517
–
–
51,517
60,722
–
177,161
–
–
177,161
178,609
–
177,412
–
–
177,412
273,282
–
–
–
–
–
25,000
–
–
–
–
–
10 480
–
73,329
–
–
73,329
105,287
–
638,701
761
–
639,462
823,029


Balance Sheets

As at 31 December 2020

Note
Fixed Assets
Intangible Assets
11
Tangible fxed assets
12
Investments
13
Current Assets
Debtors
14
Cash at bank and in hand
Current Liabilities
Creditors: amounts falling due within one year
15

Net Current Assets
Net Assets
18
Represented by:
Unrestricted funds
17
Group funds
Central funds
Designated funds
Permanent endowment fund
Total Funds		 2020
2019
Group
Charity
Group
Charity
£
£
£
£
12,833
12,833
24,765
24,765
3,921
3,921
4,286
4,286
575,860
575,870
542,315
542,325
592,614
592,624
571,366
571,376
118,785
110,007
161,654
141,388
399,438
372,009
293,532
254,481
518,223
482,016
455,186
395,869
(151,864) (153,020)
(251,037)
(229,083)
366,359
328,996
204,149
166,786
958,973
921,620
775,515
738,162
100,314
100,314
97,597
97,597
598,503
561,150
431,707
394,354
93,585
93,585
88,277
88,277
166,571
166,571
157,934
157,934
958,973
921,620
775,515
738,162		 2020
2019
Group
Charity
Group
Charity
£
£
£
£
12,833
12,833
24,765
24,765
3,921
3,921
4,286
4,286
575,860
575,870
542,315
542,325
592,614
592,624
571,366
571,376
118,785
110,007
161,654
141,388
399,438
372,009
293,532
254,481
100,314
100,314
97,597
97,597
598,503
561,150
431,707
394,354
93,585
93,585
88,277
88,277
166,571
166,571
157,934
157,934
958,973
921,620
775,515
738,162

The financial statements were approved by the Board of Trustees for issue on 23rd June 2021 and were signed on its behalf by:

Dr Sheetal Chavda Honorary Treasurer

Dr Rae-Wen Chang Honorary Secretary

All amounts relate to continuing operations . The charity has no other gains or losses other than the result for the period .

22 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

23

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounts appendix

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

1 Accounting policies

Note
Cash flows from operating activities:
Net cash provided by/ (used in) operating
activities
a
Cash flows from investing activities:
Dividends, interest from investments
Purchase of intangible assets
Purchase of office equipment
Proceeds from sale of investments
Purchase of investments
Net cash provided by / (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of
the year
b		 2020
£
10,268
-
(1,374)
85,356
(89,245)		 2020
£
100,901
5,005
105,906
293,532
399,438		 2019
£
12,916
(1,575)
(3,812)
38,741
(15,117)		 2019
£
99,452
31,153
130,605
162,927
293,532
a)
Net (expenditure) / income for the year
(as per the statement of financial activities)
Adjustments for:
Depreciation and amortisation
Interest and dividends from investments
(Gains)/ losses on investments
Decrease/ (Increase) in debtors
Increase/ (Decrease) in creditors
Net cash used in operating activities
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
Reconciliation of net (expenditure) / income to net
cash flow from operating activities		 £
293,532
293,532
At 1
January
2019		 Cash flows
£
105,906
105,906		 2019
£
183,458
13,671
(10,268)
(29,656)
42,869
(99,173)
100,901
£
-
-
Other
changes		 2019
£
103,698
13,506
(12,916)
(60,992)
(9,161)
65,317
99,452
£
399,438
At 31
December
2020
399,438

Basis of preparation

The financial statements have been prepared under the historical cost convention with assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note(s) to these accounts. The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it appplies from 1 January 2019.

Charity merger

On 1 January 2020, the unincorporated charity Society of Occupational Medicine (charity numbers: England and Wales 268555, Scotland: SC041935), transferred it's trade, assets and liabilities to the incorporated charity, company number 11380861 (charity numbers: England and Wales 1184142, Scotland SC041935). As at that date the net assets were £775,515. Merger accounting has been applied.

The trust constitutes a public benefit entity as defined by FRS 102.

Group financial statements

SOM Enterprises Ltd, a trading subsidiary of SOM charity was incorporated on 10 October 2012 in England, Company registration Number 84248047. The group financial statements include the results of The Society of Occupational Medicine and its subsidiary company SOM Enterprises Ltd. The results of the subsidiary are included on a line by line basis and its own profit and balance sheet are shown in note 21. The income and expenditure, assets and liabilities of the groups of The Society of Occupational Medicine are included in these financial statements. Annual Scientific Meetings are organised by Groups. Surpluses arising from such meetings are transferred into Central Funds, with an agreed balance being retained by the organising Group. Amounts paid by Central Funds into Groups are shown as transfers between funds.

Going concern

Based on the level of surplus reserves, the trustees consider that there are no material uncertainties about the charitable group's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income

Income is recognised when the group has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

Income from permanent endowments is recognised when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest or dividends paid or payable by the investment fund manager.

24 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

25

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounts appendix

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2020

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the group has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

1 Accounting policies (continued)

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1 Accounting policies (continued)

Creditors and provisions

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Fund accounting

Unrestricted group and central funds are those funds which can be used freely to meet the Society's charitable objects. Designated funds are those funds which have been set aside by the trustees to be used for specific purposes. The permanent endowment fund is a restricted capital fund set up by the Margaret Dobbie-Bateman legacy. The fund represents those assets which must be held permanently by the charity. Income arising on the permanent endowment fund can be used in accordance with the charity’s objects and is included as unrestricted income.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pensions

The charitable company operates a defined contribution scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.The pension cost charge represents contribution payable under the scheme by the charitable company to the fund.The charitable company has no liability under the scheme other than for the payment of those contributions. Pension contribution is recognised in the SoFA as an unrestricted expense.

Tax status

The Society of Occupational Medicine is a charity within the meaning of Para1 Schedule 6 Finance Act 2010. Accordingly the charity is potentially exempt from taxation in respect of income in the category covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010, to the extent that such income is applied exclusively to charitable purposes.

Significant judgements and estimates

Apart from the investments for which the accounting policy has been stated on the previous page, there are no other balances within the financial statements that we consider to have significant judgement or estimate.

Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

Intangible fixed assets

Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. Items are amortised on a 20% straight line basis. Provision is made for any impairment in carrying value at the year end.

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500 and are included at cost. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Office equipment 20% on straight line basis

Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted bid price. Any change in fair value will be recognised in the statement of financial activities.

Stock

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

26

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

27

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounts appendix

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

2 Detailed comparatives for the consolidated statement of financial activities - Group

Income and endowments from:
Donations and legacies
Charitable activities:
Member services
Member meetings
The Journal
Quality Assured Appraisal Scheme
Investment income
Other trading activities
Total Income
Expenditure on:
Raising funds
Charitable activities:
Member services
Member Meetings
Journal costs
Quality Assured Appraisal Scheme
Other:
Awards and prizes
Corporate affairs
Commercial trading costs
Total expenditure
Net income before net gains / (losses)
on investments
Realised and unrealised gains/ (losses)
Net income for the year
Reconciliation of funds:
Total funds brought forward as
previously stated
Prior year adjustments
Total funds brought forward as restated
Total funds carried forward		 Group
Funds
£
-
-
-
-
-
-		 Central
Funds
£
-
266,702
-
161,284
257,890
10,490
205,797		 Funds
£
-
-
-
-
-
2,426
-
Designated		 Restricted
Funds
£
25,000
-
-
-
-
-
-
25,000
-
-
-
-
-
25,000
-
-
-
25,000
-
-
-
-
-
-
-		 Fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,665
7,665
150,269
-
150,269
157,934
Permanent
Endowment		 2019
Total
£
25,000
266,702
-
161,284
257,890
12,916
205,797
- 902,163 2,426 929,589
-
-
-
-
-
-
-
-		 5,684
163,160
60,722
178,609
273,282
6,480
105,287
63,854		 805
-
-
-
-
4,000
-
-		 6,489
-
163,160
60,722
178,609
273,282
25,000
10,480
105,287
63,854
- 857,078 4,805 886,883
- 45,085 (2,379) 42,706
- 48,696 4,631 60,992
-
97,597
-
97,597
 93,781
354,784
(16,858)
337,926		 2,252
86,025
-
86,025		 103,698
688,675
(16,858)
671,817
97,597 431,707 86,025 775,515

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

2
Detailed comparatives for the statemen		 t of financial activitie s - charity
Income and endowments from:
Donations and legacies
Charitable activities:
Member services
Member meetings
The Journal
Quality Assured Appraisal Scheme
Investment income
Other income
Total Income
Expenditure on:
Raising funds
Charitable activities:
Member services
Member meetings
Journal costs
Quality Assured Appraisal Scheme
Other:
Awards and prizes
Corporate affairs
Total expenditure
Net income before net gains / (losses) on
investments
Realised and Unrealised gains/ (losses)
on investments
Net income for the year
Reconciliation of funds:
Total funds brought forward as previously
stated
Prior year adjustments
Total funds brought forward as restated
Total funds carried forward		 Group
Central
Funds
Funds
£
£
-
-
-
266,702
-
-
-
161,284
-
257,890
-
10,490
-
104,607		 Designated
Funds
£
-
-
-
-
-
-
2,426
-		 Restricted
Funds
£
25,000
-
-
-
-
-
-
-
25,000
-
-
-
-
-
25,000
-
-
25,000
-
-
-
-
-
-
-		 Permanent
Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,665
7,665
150,269
-
150,269
300,538		 Restated
2019
Total
£
25,000
266,702
-
161,284
257,890
12,916
104,607
828,399
6,489
163,160
60,722
178,609
273,282
25,000
10,480
105,287
-
823,029
5,370
60,992
66,362
677,900
(6,100)
671,800
738,162
-
800,973		 2,426
-
5,684
-
163,160
-
60,722
-
178,609
-
273,282
-
6,480
-
105,287		 805
-
-
-
-
4,000
-
793,224		 4,805
-
7,749		 (2,379)
-
48,696		 4,631
-
56,445
97,597
344,009
-
(6,100)
97,597
337,909
 2,252
86,025
-
86,025
97,597
394,354		 88,277

28 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

29

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounts appendix

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2020

3 Income from donations and grants - (Group and Charity)

2020 2019
£
RCN Foundation Grant
-
-
Income from charitable activities (Group and Charity)
Member
services
Member
meetings
Year ended 31 December 2020
£
£
Members subscriptions
303,714
-
Branch meetings & symposia
-
2,717
Profit share from OUP The Journal
-
-
QAAS appraisal fees
-
-
303,714
2,717
Member
services
Member
meetings
Year ended 31 December 2019
£
£
Members subscriptions
266,702
-
Branch meetings & symposia
-
-
Profit share from OUP The Journal
-
-
QAAS appraisal fees
-
-
266,702
-
Unrestricted		 £
-
-
The
Journal
£
-
-
174,167
-
174,167
The
Journal
£
-
-
161,284
-
161,284
Restricted		 Total
£
-
-
Quality
Assured
Appraisal
Scheme
£
-
-
-
173,240
173,240
Quality
Assured
Appraisal
Scheme
£
-
-
-
257,890
257,890		 Total
£
25,000
25,000
Total for
the year
£
303,714
2,717
174,167
173,240
653,838
Restated
Total for
the year
£
266,702
-
161,284
257,890
685,876

4 Income from charitable activities (Group and Charity)

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

5
Income from investments - Group and charity
Investment income
6
Other trading activities - Group
Trading activities
Other trading activities - Charity
Other income
7
Analysis of expenditure - Group
Direct
costs
£
Costs of raising funds
6,688
Charitable activities:
Member services
85,367
Member meetings
27,629
Journal costs
140,411
Quality Assured Appraisal Scheme
149,849
RCN Foundation Grant
-
Others:
Awards and prizes
-
Corporate affairs
45,766
Commercial trading costs
31,122
Total resources expended
486,832		 Unrestricted
£
10,268
10,268
£
160,278
160,278
Unrestricted
£
129,156
129,156
Support
Costs
£
-
67,988
23,888
36,750
27,563
-
-
27,563
-
183,752
Unrestricted		 Total
2020
£
10,268
10,268
Total
2020
£
160,278
160,278
Total
2020
£
129,156
129,156
Total
2020
£
6,688
153,355
51,517
177,161
177,412
-
-
73,329
31,122
670,584		 Total
2019
£
12,916
12,916
Total
2019
£
205,797
205,797
Total
2019
£
104,617
104,617
Total
2019
£
6,489
163,160
60,722
178,609
273,282
25,000
10,480
105,287
63,854
886,883

30 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

31

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounts appendix

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2020

7
Resources expended (continued)
Analysis of expenditure - Charity Direct Support Total Total
costs
£
Costs of raising funds
6,688
Charitable activities:
Member services
85,367
Member meetings
27,629
Journal costs
140,411
Quality Assured Appraisal Scheme
149,849
RCN Foundation Grant
-
Others:
Awards and prizes
-
Corporate affairs
45,766
Total resources expended
455,710
Analysis of support costs - Group and Charity
Staff & related costs
Office & IT costs
Cost of premises
Finance costs
Governance costs
Total support costs		 Costs
£
-
67,988
23,888
36,750
27,563
-
-
27,563
183,752		 2020
£
6,688
153,355
51,517
177,161
177,412
-
-
73,329
639,462
Total
2020
£
63,904
45,960
31,260
3,609
39,019
183,752		 2019
£
6,489
163,160
60,722
178,609
273,282
25,000
10,480
105,287
823,029
Total
2019
£
66,930
67,697
58,215
6,410
53,775
253,027

Support costs are allocated to Charitable activities on the basis of staff time.

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2020

8
9
10
a
Net income/ (expenditure) for the year
This is stated after charging:
Auditor's remuneration (excluding VAT)
- Statutory audit
Depreciation and amortisation
Property Rental Licence
Awards and prizes (Group and charity)
Golden Jubilee award
Other award costs
Analysis of staff costs, trustee remuneration and
expenses, and the cost of key management personnel
Staff costs were as follows:		 2020
£
9,190
13,671
31,260
2020
£
-
-
2020
£
-		 2019
£
8,920
13,506
58,215
2019
£
4,000
6,480
10,480
2019
£
Salaries and wages
Social security costs		 274,692
30,673		 280,247
31,209
305,365 311,456
Between £90,001 and £100,000 : One (2019 : One)
The number of employees whose emoluments as defined for taxation pur
in the period was one (2019: one).		 poses amounted to over £60,000
The total employee benefits including pension and employer NI contrib
personnel were £239,995 (2019: £236,388).		 utions of the key management

b Staff numbers

There were 6 employees based on average headcount (2019: 6).

c

Trustee information

None of the trustees received or waived emoluments in the current or preceding year. During the period 1 trustee (2019:3) received reimbursed travel expenses of £154 (2019: £1,201) and £639 (2019: £581) was spent for Trustee Indemnity insurance. No payments were made direct to third parties on their behalf.

32

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

33

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounts appendix

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

11
Intangible fixed assets (Group and charity)
Cost
At 1st January 2020
At 31st December 2020
Amortisation
At 1st January 2020
Charge for the year
At 31st December 2020
Net Book Value At 31 December 2020
Net Book Value At 31 December 2019		 59,659
59,659
34,894
11,932
46,826
12,833
24,765
12
Tangible fixed assets (Group and charity)
Cost
At 1st January 2020
Additions
At 31st December 2020
Depreciation
At 1st January 2020
Charge for the year
At 31st December 2019
Net Book Value
At 31st December 2020
At 31st December 2019		 £
35,383
1,374
36,757
31,097
1,739
32,836
3,921
4,286
Office
equipment		 Total
£
35,383
1,374
36,757
31,097
1,739
32,836
3,921
4,286

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

Fixed interest
UK equities and funds
International equities
Investments (Charity)
Investment in subsidiary (see note 21)
All investments are listed on recognised stock exchanges and are valued a		 Market
value
2020
£
188,085
180,442
207,333
575,860
2020
£
10
10
t 31 December 2		 Market
value
2019
£
193,868
147,011
201,436
020as follows:
542,315
2019
£
10
10
13
Investments (Group and charity)
Listed investments
Market value at 1 January 2019
Acquisitions at cost
Sale proceeds of disposals
Realised gains/ (losses) on disposals
Unrealised gains/ (losses) on revaluation
Market value at 31 December 2020
Historical cost of investments held at 31 December 2020		 2020
£
542,313
89,245
(85,356)
(2,655)
32,313
575,860
459,889		 2019
£
504,947
15,117
(38,741)
-
60,992
542,315
445,270

34 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

35

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounts appendix

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2020

14
Debtors (Group)
Trade debtors
Prepayments & accrued income
Other debtors
Debtors (Charity)
Trade debtors
Prepayments & accrued income		 2020
£
10,362
101,673
6,750
118,785
2020
£
507
94,998		 2019
£
25,726
134,008
1,920
161,654
2019
£
5,379
125,258
Due from SOM Enterprises Ltd 14,502 9,909
15
Other debtors
Creditors (Group)
Amounts falling due within one year:
Trade creditors
Accruals
Social security costs and other taxes
Other creditors
Deferred Income
Creditors (Charity)
Amounts falling due within one year:
Trade creditors
Accruals
Social security costs and other taxes
Other creditors
Deferred Income (Income received for 2021 appraisal meetings)		 -
110,007
2020
£
10,968
60,156
10,150
15,495
55,095
151,864
2020
£
11,868
58,476
12,086
15,495
55,095
153,020		 842
141,388
2019
£
24,344
143,175
4,320
6,948
72,250
251,037
2019
£
19,365
109,127
25,361
2,980
72,250
229,083

16 Pension scheme

The charitable company operates a defined contribution scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.The pension cost charge represents contribution payable under the scheme by the charitable company to the fund.The charitable company has no liability under the scheme other than for the payment of those contributions. Total contribution paid and recognised in the SoFA as unrestricted expense for the year was £9,861 (2019: £10,289).

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2020

17
Total Funds
(a)
Unrestricted Funds - current year
At 1 January 2020
Net income/(expenditure) before transfers
Realised and Unrealised gains on investments
At 31 December 2020
Unrestricted Funds (prior year)
As at 1 January 2019
Net income/(expenditure) before transfers
Realised and Unrealised gains on investments
At 31 December 2019
(b)
Designated Funds - current year
At 1 January 2020
Add:		 Group
Funds
£
97,597
2,717
-
100,314
Group
Funds
£
97,597
-
-
97,597		 Central
Funds
£
431,707
150,406
16,390
598,503
Central
Funds
£
337,926
45,085
48,696
431,707		 Total
2020
£
529,304
153,123
16,390
698,817
Total
2019
£
435,523
45,085
48,696
529,304
£
88,277
Golden
Jubilee
Fund
Investment income 1,438
Realised and Unrealised gains on investments
Less:
Investment management costs
Golden Jubilee Award
At 31 December 2020
Designated Funds - prior year
At 1 January 2019
Add:
Investment income
Realised and Unrealised gains on investments
Less:
Investment management costs
Golden Jubilee Award
At 31 December 2019		 4,631
761
-
93,585
£
86,025
2,426
4,631
Golden
Jubilee
Fund
805
4,000
88,277

Golden Jubilee Award Fund

To mark the Golden Jubilee of the Society, an appeal was launched during the year ended 30 June 1985. The trustees have designated the funds raised for a fellowship to enable members to study overseas.

36 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

37

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounts appendix

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2020

(c)
Permanent Endowment Fund
At 1 January 2020
Add:
Realised and Unrealised gains on investments
At 31 December 2020
Permanent Endowment Fund (prior year)
At 1 January 2019
Add:
Realised and Unrealised gains on investments
At 31 December 2019		 £
157,934
8,637
Permanent
Endowment
Fund
166,571
£
150,269
7,665
Permanent
Endowment
Fund
157,934

Permanent Endowment Fund

The permanent endowment fund is a restricted capital fund set up by the Margaret Dobbie-Bateman legacy in The Honorary Treasurer's Fund charity. The fund represents those assets which must be held permanently by the charity. Income arising on the permanent endowment fund can be used in accordance with the charity’s objects and is included as unrestricted income.

18 Analysis of net assets between funds - current year

Intangible fixed assets
Tangible fixed assets
Investments
Net current assets
Total net assets
Analysis of net assets between funds
Intangible fixed assets
Tangible fixed assets
Investments
Net current assets
Total net assets		 Unrestricted
Funds
£
12,833
3,921
315,704
366,359
698,817
- prior year
£
24,765
4,286
296,104
204,149
529,304
Unrestricted
Funds		 Designated
Funds
£
-
-
93,585
-
93,585
Designated
Funds
£
-
-
88,277
-
88,277		 Permanent
Endowment
Fund
£
-
-
166,571
-
166,571
£
-
-
157,934
-
157,934
Permanent
Endowment
Funds		 Total
2020
£
12,833
3,921
575,860
366,359
958,973
Restated
Total
2019
£
24,765
4,286
542,315
204,149
775,515

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2020

follows:
2020 2019
Operating leases that expire: £ £
Less than one year 30,060 30,600
1-2 years 22,545 30,600
2-5 years - 15,300
Profit and Loss
Turnover
Cost of Sales
Administration expenses
Profit before Gift aid
 £
126,343
(23,321)
(71,770)
31,252
Year Ended 31
December
2020		 Year Ended
31 December
2019
£
168,819
(60,439)
(71,044)
37,336
Gift Aid to SOM charity (31,252) -
Corporation tax
Profit/ (loss) for the period
Balance sheet
Debtors
Cash at bank
Creditors
Net assets/ (liabilities)
Called up Share Capital
Profit and loss reserves
Total equity		 -
-
-
£
33,902
27,429
(23,968)
37,363
10
37,353
37,363		 37,336
-
37,336
£
51,216
39,051
(52,904)
37,363
10
37,353
37,363

At 31 December 2020 amount of £14,502 (2019: £9,909) was due from SOM Enterprises Ltd, the subsidiary of the charity

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

38 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

39

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

THE SOCIETY OF OCCUPATIONAL MEDICINE

Our supporters

THE SOCIETY OF OCCUPATIONAL MEDICINE

Structure

Thanks to our corporate supporters

The Society of Occupational Medicine structure December 2020

----- Start of picture text -----
BOARD OF TRUSTEES
President: Professor Anne Harriss
Honorary Secretary: Dr Rae-Wen Chang
Remuneration Diversity and
Sub-Committee Inclusion Task Force
----- End of picture text -----

----- Start of picture text -----
SOM COUNCIL Special Interest
Multidisciplinary
Chair: Dr Vicky Mason Groups
OH group
SOM Regional Group Chairs e .g . Construction,
Chair:
SOM Education Panel Lead: Marketing, Occ
Dr Will Ponsonby
Professor Kaveh Asanati Technicians, HAVS
Commercial providers group Networks
Chair: Dr Mike Goldsmith e .g . MSK at work, Sleep
----- End of picture text -----

----- Start of picture text -----
SUB GROUPS
Education
Editorial Programme group
Panel
Committee (Conference)
Chair:
Editor: Chair:
Professor Kaveh Asanati
Dr Steven Nimmo SOM/FOM rotating
(also chair of Awards)
Appraisal Independent
management group Golden Jubilee Academic Forum
Chair: Nick Pahl Award Panel for Work and Health
Consultant: 2 Trustees Chair:
Dr Nerys Williams Professor Ewan Macdonald
----- End of picture text -----

40 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

41

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Join us

The Society of Occupational Medicine (SOM) is the largest and oldest national professional organisation of individuals with an interest in occupational health (OH) .

SOM membership is for anyone working in and with an interest in OH . Membership demonstrates a commitment to improving health at work, supports professional development and improves future employability enhancing our members’ reputation and employability .

Members are part of a multidisciplinary community – including doctors, technicians, nurses, health specialists and other professionals – with access to the information, expertise and learning needed to keep at the forefront of their role . Our members benefit from career development opportunities alongside practical, day-to-day support and guidance, through local and national networks that are open to all .

Through its collective voice, SOM advances knowledge, raises standards and increases awareness and seeks to positively influence the future of OH .

How you can get involved:

42 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

43

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

THE SOCIETY OF OCCUPATIONAL MEDICINE

text here ranged right

The Society of Occupational Medicine 2 St Andrew's Place NW1 4LB www .som .org .uk @SOMNews

Telephone: 020 3910 4531 E–mail: admin@som .org .uk

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44 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020