2021-12-31-accounts

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Trustees’ report and financial statements for the year ended 31 December 2021

A Charitable Company No 11380861 Charity No 1184142

THE SOCIETY OF OCCUPATIONAL MEDICINE

Page Annual Report Dr Jayne Moore – President . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Nick Pahl – CEO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Dr Sheetal Chavda – Honorary Treasurer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Legal and Administrative Details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 SOM Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Trustees’ Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Independent Auditor’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 Statement of Financial Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19 Consolidated Statement of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 Notes to the Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 Corporate Supporters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33 SOM Structure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

President’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

President’s report Dr Jayne Moore

In 2021 the pandemic disrupted workplaces, who were forced to adapt, change working environments, manage staff absence, and revise business strategies.

As COVID-19 restrictions end, occupational health (OH) continues to be important. Employers are recognising that a key component of business sustainability is their reliance on employees being healthy. As part of this, they need expert advice to support staying and returning to work. OH is now acting as a convenor for a wider range of skills and expertise to equip employers and employees with the knowledge, tools, and confidence to help return to work, maintain physical and mental health, reduce presenteeism and staff turnover.

SOM played a vital role during the pandemic in ensuring workplaces have suitable workplace health policies in place such as for Long COVID. SOM, with members, gave advice to employers about protecting staff in the workplace during COVID-19, helping people stay productive with physical or mental health conditions.

Access to OH remains a luxury for the minority. This has got to change. It should not be the case that the size of your employer determines how well your health and wellbeing is protected at work. Everyone should have access and SOM called for Universal Access to OH, meeting with the Leader of the Opposition about this and hosting a summit with the World Health Organization.

The Government committed to boosting OH provision in its “Health is everyone’s business” consultation response. A good step, but proposals are yet to be fully implemented. We were pleased to see investment in

NHS OH via the “Growing OH programme” – a key part of ensuring healthcare professionals can deal with the NHS backlog.

Dr Jayne Moore

SOM also worked with FOM and colleagues within the DHSC/DWP Work and Health Unit to support development of OH initiatives e.g. the development of an Academic Centre for Work and Health and creating new data sets for employees and OH outcomes.

In 2022 I will be handing the baton on to Dr Shriti Pattani. I hope that she has an equally fulfilling Presidency.

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

CEO's report

CEO’s report Nick Pahl

I am very grateful for the support and expertise from SOM members, Council, the Board and staff team who have been so professional, good natured and flexible.

Occupational health (OH) has come into its own during the pandemic, proving its worth to employers. It is time for a step change to make OH the norm in every workplace – demonstrating that employers value its workforce’s health and wellbeing and ensuring businesses are more resilient for the future.

SOM continues to provide much needed advice and support. Special Interest Group (SIG) meetings have grown, with new ones such as an OH Psychology SIG. HAVS CFS and Construction guides were published, and a SOM App launched. A SOM Podcast series, with episodes covering topics including GPs and fit notes, has proved successful; alongside regular webinars including breakfast seminars with C3 on issues such as Menopause in the Workplace.

questions were asked regarding OH and letters sent to Ministers. SOM is a member of the “Growing OH” NHS strategy group and advised on aspects of DWP/DHSC Occupational Health Policy such as a Multidisciplinary workforce data set project.

A new OH awareness week was launched in 2021 and SOM hosted over 75 webinars focusing on key OH issues, with over 8,500 registrants.

Value to members is a core part of what SOM offers, and I am pleased to say that total membership rose to 1,875.

Advocacy and policy activity was centre stage. The SOM President met, with FOM, the Chief Medical Officers across the UK regarding the need to boost occupational medicine trainees. SOM continued to host the Academic Forum, MSK at Work Network meetings and Centre for Work and Health advisory group. There were also regular meetings with the HSE and multidisciplinary group colleagues. Parliamentary

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Legal information

THE SOCIETY OF OCCUPATIONAL MEDICINE

Honorary Treasurer's report

THE SOCIETY OF OCCUPATIONAL MEDICINE

Honorary Treasurer’s Report Dr Sheetal Chavda

In 2021 SOM achieved a further surplus, due to a continued focus on cost control and diversification of income streams (from areas such as webinars, corporate supporters, and sponsorship income). SOM also received funding from Public Health England to launch a series of factsheets and webinars on key areas of workplace health and COVID-19.

Journal income was slightly ahead of target, membership income increased, and appraisal income and expenditure continue to be aligned. SOM is grateful for the income from corporate supporters and 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.

I am grateful to our finance manager, Sujal Naik, for his hard work in preparing the year's financial statements, and to HW Fisher LLP for their thorough and supportive auditing of the financial statements.

Dr Sheetal Chavda is also Chair of the SOM’s Diversity and Inclusion Task Force, who have been advocating for change in this area, such as with the BMA Council Chair.

Logo: Louis Prado; the Noun Project

Legal and administrative details for the year ended 31 December 2021

A list of trustees who have served during the year and up to the date of approval of the financial statements are:

President (from June 2021)

Dr Jayne Moore President (from June 2021) Professor Anne Harriss Past President (from June 2020–June 2021) Dr Shriti Pattani President elect (from June 2021) Dr Rae Chang Honorary Secretary (from July 2020) Dr Sheetal Chavda Honorary Treasurer (from June 2019) Dr Vicky Mason Chair of Council (from June 2020) Professor Neil Greenberg from June 2020 Mr Shaun Davis from June 2017 Mr Richard Sheret to September 2021 Mr Jonathan Gawthorp from September 2021

Trustees

Honorary Strategic Clinical Advisers – Christine Poulter and Dr David Roomes (from 2022)

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 Auditor HW Fisher LLP Acre House 11-15 William Road London, NW1 3ER Investment managers Investec Wealth & Investment Limited 30 Gresham Street London EC2V 7QN Solicitors Hempsons Solicitors Hempsons House 40 Villiers Street, London WC2N 6NJ

England 1184142; Scotland SC041935; Company no 11380861 2 St Andrews Place, London, NW1 4LB

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

SOM Awards

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

The SOM Occupational Health Awards 2021

[Outstanding Occupational Health Team ] sponsored by Lloyd & Whyte Limited – Occupational Health & Wellbeing Department, King's College Hospital (Highly commended: Staying Well at Work, Rhondda Cynon Taf Council – externally funded)

were presented at the SOM Christmas Drinks reception in London on Tuesday 7th December. The award categories and winners were:

[ Outstanding Occupational Health Initiative – ] March on Stress
[ Outstanding Occupational Health Practitioner ] sponsored by Health Management Limited – Dr Nurlan Baimenshin (Highly commended: Dr Clare Fernandes and Dr James Quigley)
[Outstanding Contribution to Diversity ] and Inclusion sponsored by PAM Group – Southport and Ormskirk NHS Trust
[Outstanding Contribution to the ] Development of OH Globally – Dr Shawaludin Husin
[ Outstanding Contribution by an Employer to ] Development of OH Globally – Dr
Workplace Health and Wellbeing sponsored Shawaludin Husin
by Greys Specialist Recruitment – National Express (Highly commended: Anglian Water) Thank you to everyone who submitted an entry.

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:

prevention and management of work-related ill health, occupational diseases and injuries and the protection of health of people at work;
the relief of those in need due to ill-health, disease, injury, or disability by supporting them to keep in work or assist them to get into work;
advancing education, including the promotion and stimulation of research in the field of occupational health and medicine and related environmental issues, by the publication of such research and the provision of guidance and advice on occupational health and medicine and environmental health issues,

including by forming for the above purposes a group of medical practitioners, nurses and allied health professionals interested in the practice of occupational health and medicine in any of its branches.

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 net expenditure of £831,311. Funds of the Group as of 31 December 2021 amounted to £1,049,851.

Awards

Honorary Membership Professor Maggie Rae and Dr Bob Goddard

Golden Jubilee Award Dr Liba Sheeran, Cardiff University

Esso Prize

COVID-19 and experiences of moral injury in front-line key workers by Victoria Williamson, Dominic Murphy, and Neil Greenberg Occupational Medicine 2020; 70: 317–319 2 April 2020 .

Achievements in 2021

OH Awareness Week launched
• A new online magazine
Successful Jobs fair and MFOM revision sessions, in addition to regular CESR support group meetings and MSK at Work Network meetings
“OH and Higher Education” webinar – with over 200 attendees
Regular multidisciplinary forums, breakfast seminars with C3/RAND
Increased communications reach - 2,500 followers on Twitter, over 5,000 followers on LinkedIn and 690 followers on Facebook
Achieved ISO 9001 for our Appraisals service

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

Organisational structure

term 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 2021.

The SOM employs 7 staff: a CEO, a finance manager, an operations and membership manager, an assistant editor, a communications and events manager, an administrator and a senior appraisal and membership co-ordinator. Dr Nerys Williams advises on appraisals. SOM also contracts with a consultant on advocacy and policy.

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

Golden Jubilee Fund

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

The SOM has adopted the recommendations and is committed to full compliance with the Charities SORP. The accounting policies were reviewed and approved by Trustees in June 2021.

Reserves Policy and concern re COVID-19

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.

Investment powers and policy

The Trustees reviewed and approved the Investment policies in June 2021. The Charity has appointed its investment managers to provide a discretionary portfolio management service. The investment objective is for a long-

Enjoying the SOM summer party 2021 at the RCP

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 SOM target to maintain a level of free reserves to cover six months’ core expenditure. Free reserves in the Central Fund at the yearend amounted to £666,935 considering the net book value of fixed assets. This exceeds 6 months’ core expenditure and is satisfactory. The reserves policy was reviewed by the Board in June 2021.

Policy for Awards and Prizes

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 2021.

Left: Angela Burnett, Occupational Medicine Assistant Editor, received a special award for her service to SOM from the Journal’s Editor, Professor Steven Nimmo

Risk Statement

The Charity Commission requires the Trustees to 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.

Public benefit statement

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 and fulfilling life. It supports employers and

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees' responsibilities

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

THE SOCIETY OF OCCUPATIONAL MEDICINE

SOM hosts an MSK at work network that aims to raise awareness about potential musculoskeletal (MSK) issues

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

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.

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 financial statements 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.

Appointment of Trustees

A list of the trustees who have served during the year and up to the date of approval of the financial statements is set out in the Legal and Administrative details page.

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

Auditor

A resolution to appoint the 2021 auditor of the charity, HW Fisher LLP, was agreed at the Annual General Meeting in June 2021.

Statement of Trustees' responsibilities

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:

[ select suitable accounting policies and then ] apply them consistently;
[ observe the methods and principles of the ] Charities’ SORP;
[ make judgements and estimates that are ] reasonable and prudent;
[ state whether applicable accounting standards ] have been followed, subject to any material departures disclosed and explained in the Financial Statements; and
[ prepare the Financial Statements on the going ] concern basis unless it is inappropriate to presume that the Company will continue in business.

The Trustees are responsible for keeping proper 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.

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) 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 auditor is aware of that information.

This report was approved and authorised by the Trustees on 23 June 2022 and signed on their behalf by

Dr Sheetal Chavda Dr Rae Wen Chang Honorary Treasurer Honorary Secretary

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Independent auditor’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

Independent auditor’s report to the Members and Trustees of The Society of Occupational Medicine

the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group 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.

Opinion

We have audited the financial statements of The Society of Occupational Medicine (the ‘parent charity’) and its subsidiary (the ‘group’) for the year ended 31 December 2021 which comprise the consolidated statement of financial activities, the balance sheets, the consolidated statement of cash flows and the 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).

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.

In our opinion the financial statements:

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.

[ give a true and fair view of the state of the ] group’s and parent charity’s affairs as at 31 December 2021 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
[ have been properly prepared in accordance ] with United Kingdom Generally Accepted Accounting Practice; and

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

[ have been prepared in accordance with the ] requirements of the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise

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

explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other 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 our audit:

[ the information given in the trustees' ] report, which includes the directors' report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
[ the directors' report included within ] the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and

understanding of the group and parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' 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 (as amended) require us to report to you if, in our opinion:

[ adequate and proper accounting records ] have not been kept by the parent charity, or returns adequate for our audit have not been received from branches not visited by us; or
[ the parent charity’s financial statements are ] not in agreement with the accounting records and returns; or
[ certain disclosures of trustees' remuneration ] specified by law are not made; or
[ we have not received all the information and ] explanations we require for our audit; or
[ the trustees were not entitled to prepare the ] financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, 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 group’s and parent charity’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 group or charitable company or to cease operations, or have no realistic alternative but to do so.

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Independent auditor’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

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.

As part of our planning process:

[ We enquired of management the systems and ] controls the group and charity has in place, the areas of the financial statements that are most susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The charity did not inform us of any known, suspected or alleged fraud.
[ We obtained an understanding of the legal ]

and regulatory frameworks applicable to the group and charity. We determined that the following were most relevant: the Charity SORP, FRS 102, the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and employment law.

[ We considered the incentives and ] opportunities that exist in the group and charity, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
[ Using our knowledge of the group and ] charity, together with the discussions held with the charity at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

[ Identifying and testing journal entries and the ] overall accounting records, in particular those that were significant and unusual
[ Reviewing the financial statement disclosures ] and determining whether accounting policies have been appropriately applied
[ Reviewing and challenging the assumptions ] and judgements used by management in their significant accounting estimates, in particular in relation to provision for bad debts and impairment of investments
[ Assessing the extent of compliance, or lack of, ] with the relevant laws and regulations
[ Testing key income lines, in particular cut-off, ] for evidence of management bias
[ Assessing the validity of the classification of ] income, expenditure, assets and liabilities between group, central, designated and

permanent endowment funds

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.
[ Obtaining third-party confirmation of material ] bank balances
[ Documenting and verifying all significant ] related party and consolidated balances and transactions
[ Reviewing documentation such as the charity ] board minutes and correspondence with solicitors, for discussions of irregularities including fraud
[ Testing all material consolidation adjustments. ]

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the trustees of the charity.

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

Andrew Rich (Senior Statutory Auditor)

For and on behalf of HW Fisher LLP

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/ auditor'sresponsibilities. This description forms part of our auditor's report.

Chartered Accountants Statutory Auditor Acre House 11-15 William Road London NW1 3ER United Kingdom

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

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2022

SOM is a learning legacy partner with HS2

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Financial statements

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2021


Not Income and endowments from: Donations and grants 3 Charitable activities: 4 Member services Member meetings The Journal Quality Assured Appraisal Scheme Investment income Other trading activities 5 Quality Assured Appraisal Scheme Grant Related Expenditure Other: Awards and prizes 9 Corporate affairs 7 Commercial trading costs 7 13 Total expenditure Net income before net gains on investments Realised and Unrealised gains/(losses) Net income for the year/ Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward All amounts relate to continuing operations Note Income and endowments from: Donations and grants 3 Charitable activities: 4 Member services Member meetings The Journal Quality Assured Appraisal Scheme Investment income Other trading activities 5 Total Income Expenditure on: Raising funds 7 Charitable activities: 7 Member services Member meetings Journal costs Quality Assured Appraisal Scheme Grant Related Expenditure Other: Awards and prizes 9 Corporate affairs 7 Commercial trading costs 7 13 Total expenditure Net income before net gains on investments Realised and Unrealised gains/(losses) Net income for the year/ Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	e Group Funds £ - - - - - - - Group Funds £ - - - - - - -	Central Funds £ - 324,911 - 172,683 220,345 7,604 146,728 Central Funds £ - 324,911 - 172,683 220,345 7,604 146,728	Funds £ - - - - - 1,344 - Designated Funds £ - - - - - 1,344 - Designated		Funds £ 18,000 - - - - - - Restricted Fund £ 18,000 - - - - - - Restricte	P En s d	Fund £ - - - - - - - ermanent dowment Fu Permane Endowme	nd £ - - - - - - - nt nt	2021 Total £ 18,000 324,911 - 172,683 220,345 8,948 146,728 20 To 18,0 324,9 172,6 220,3 8,9 146,7	21 tal £ 00 11 - 83 45 48 28	2020 Total £ - 303,714 2,717 174,167 173,240 10,268 160,278 2020 Total £ - 303,714 2,717 174,167 173,240 10,268 160,278
	- -	250,999 872,271	- 1,34	4	- 18,000		-	-	250,999 891,6	15	177,412 824,384
	~~-~~ - - - - -	~~-~~ 293,532 2,800 103,603 31,801 6,445 166,425 ~~55207~~	4,000 - - - 82	7 -	~~18,000~~ - - - - -		~~-~~ - - -	- -	~~18,000~~ 6,800 103,603 31,801 7,2 166,4 ~~55~~	72 25 ~~07~~	~~-~~ - 73,329 31,122 670,584 153,800 29,658 183,458 6,688 153,355 ~~51,~~517 177,161 ~~177,~~412 - - ~~73,~~329 31,122
	- ~~-~~ - ~~-~~	808,484 ~~,~~ 191,204 ~~250999~~	4,827	~~-~~ - ~~-~~	18,000 ~~-~~ - ~~-~~		-	~~-~~ - ~~-~~	831,311 ~~,~~ 191,2 ~~250~~	04 ~~99~~
	- - - -	63,787 16,634 ~~,~~ - 2,800 ~~103603~~	(3,483) 5,096 4,00	- 0	- - 18,000 -		- 8,844	- -	60,304 30,574 ~~,~~ 18,0 6,8 ~~103~~	00 00 ~~03~~
	- ~~-~~ -	80,421 ~~,~~ 31,801	1,613	~~-~~ -	- ~~-~~ -		8,844	~~-~~ -	90,878 ~~,~~ 31,8	01
	-	808,484	4,82	7	18,000			-	831,3	11	670,584
	100,314	598,503	93,585		~~-~~		~~166,571~~		958,973		775,515 958,973 153,800 29,658
	100,314 -	678,924 63,787	95,198 (3,483)		- -		175,415	1 -	,049,851 60,3	04
	-	16,634	5,09	6	-		8,8	44	30,5	74
	- 100,314	80,421 598,503	1,61 93,58	3 5	- -		8,8 166,5	44 71	90,8 958,9	78 73	183,458 775,515
	100,314	678,924	95,19	8	-		175,4	15	1,049,8	51	958,973

All amounts relate to continuing operations

Balance Sheets as at 31 December 2021 Company No 11380861

Note Group £ Fixed Assets Intangible Assets 11 5,163 Tangible fixed assets 12 6,826 Investments 13 637,986 649,975 Current Assets Debtors 14 120,735 Cash at bank and in hand 458,980 579,715 Current Liabilities Creditors: amounts falling due within one year 15 (179,839) Net Current Assets 399,876 Net Assets 18 1,049,851 Represented by: Unrestricted funds 17 Group funds 100,314 Central funds 678,924 Designated funds 95,198 Permanent endowment fund 175,415 Total Funds 1,049,851 20	Charity Group £ £ 5,163 12,833 6,826 3,921 637,996 575,860 649,985 592,614 103,903 118,785 435,146 399,438 539,049 518,223 (176,536) (151,864) 362,513 366,359 1,012,498 958,973 100,314 100,314 641,571 598,503 95,198 93,585 175,415 166,571 1,012,498 958,973 21 20	Charity £ 12,833 3,921 575,870 20
		592,624
		110,007 372,009
		482,016 (153,020)
		328,996
		921,620
		100,314 561,150 93,585 166,571
		921,620

The charitable company's net income for the year was £90,878 (2020: £183,458)

The financial statements were approved and authorised for issue by the Board of Trustees

and were signed on its behalf on 23 June 2022

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Dr Sheetal Chawda Honorary Treasurer
……………………………………………..
Dr Rae-Wen Chang Honorary Secretary
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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Financial statements

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Cash Flows For the year ended 31 December 2021

Note Cash flows from operating activities: Net cash provided by/ (used in) operating activities a Cash flows from investing activities: Dividends, interest from investments Proceeds form the sale of property, plant and equipment 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 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 Change in cash and cash equivalents due to exchange rate movements Reconciliation of net (expenditure) / income to net cash flow from operating activities	2021 £ 8,948 (4,825) (4,230) 162,880 (194,432)	2021 £ 91,201 (31,659) 59,542 399,438 458,980 2021 £ 90,878 13,820 (8,948) (30,574) (1,950) 27,975 91,201	2020 £ 100,901 10,268 - - (1,374) 85,356 (89,245)
			5,005 105,906 293,532
			399,438
			2020 £ 183,458 13,671 (10,268) (29,656) 42,869 (99,173)
			100,901

b) Analysis of changes in net funds

The charity and group had no debt during the year

Notes to the Financial Statements For the year ended 31 December 2021

1 Accounting policies

Charity Information

The Society of Occupational Medicine is a registered charity in England and Wales with a registered address of 2 St Andrews Place, London, NW1 4LB.

Basis of preparation

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, the Charities Act 2011 and ''Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019)''.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The group financial statements reflect the results and combined financial position of The Society of Occupational Medicine and SOM Enterprises Ltd. As permitted by s408 of the Companies Act 2006, the parent charitable company has not presented its own income and expenditure account and related notes.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit and loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for the parent company information presented within the consolidated financial statements:

• * Section 7 'statement of Cash Flows' : Presentation of a statement of cash flow and related notes and disclosures

- Section 33 'Related Party Disclosures' : Compensation for key management personnel

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

The financial statements have been prepared under the historical cost convention with assets and liabilities initially recgnised at historical cost or transaction valueunless otherwise ststed in the relevant accounting policy or note(s) to these financial statements.

Group financial statements

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 Trustee have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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 the income will be received and 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.

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the Financial Statements For the year ended 31 December 2021

1 Accounting policies (continued)

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 has 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.

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:

Costs of raising funds comprise of investment management costs and the costs incurred by the charitable group in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
Expenditure on charitable activities includes the costs of delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.

● Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, premises and governance costs which support charity's programmes and activities. The support costs have been allocated on the basis of the average amount of staff time spent on each activity. ● Other expenditure represents those items not falling into any other heading.

Notes to the Financial Statements For the year ended 31 December 2021

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.

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 contributions 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 payable. 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

The trustees believe that there were no critical accounting estimates or judgements relating to this year

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. In the current year, Public Health England provided restricted income funding to SOM to host webinars and provide toolkits on workplace health issues in the light of Covid-19.

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 unrestricted income.

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.

Financial instruments

The charity has elected to apply the provisions of section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Except for listed investments, described above, the basic financial instruments are initially recognised as transaction value and subsequently measured at their settlement value.

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the Financial Statements For the year ended 31 December 2021



												2021 Total £ 18,000 18,000 Quality Assured Appraisal Scheme £ - - - 220,345 220,345 Quality Assured Appraisal Scheme £ - - - 173,240 173,240	2020 Total £ - - Total for the year £ 324,911 - 172,683 220,345 717,939 Total for the year £ 303,714 2,717 174,167 173,240 653,838
2 Detailed comparatives for the consolidat	ed stateme	nt of financia	l activities - Group			2020 Total £ - 303,714 2,717 174,167 173,240 10,268 160,278 824,384 6,688 - 153,355 51,517 177,161 177,412 - - 73,329 31,122 670,584 153,800 29,658 183,458 775,515 958,973	3 Income from donations and grants - (Group and Charity - re	stricted funds)
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 Realised and unrealised gains/ (losses) Net income for the year Total funds brought forward Total funds carried forward Net income before net gains / (losses) on investments	Group Funds £ - - 2,717 - - - -	Central Funds £ - 303,714 - 174,167 173,240 8,830 160,278	Funds £ - - - - - 1,438 - Designated	Restricted Funds £ - - - - - - - - - - - - - - - - - - - - - - -	Fund £ - - - - - - - - - - - - - - - - - - - 8,637 8,637 157,934 166,571 Permanent Endowment
							Public Health England (PHE)
							4 Income from charitable activities (Group and Charity)
							Year ended 31 December 2021 Members subscriptions Branch meetings & symposia Profit share from OUP The Journal QAAS appraisal fees Year ended 31 December 2020 Members subscriptions Branch meetings & symposia Profit share from OUP The Journal QAAS appraisal fees	Member services £ 324,911 - - - 324,911 Member services £ 303,714 - - - 303,714	Member meetings £ - - - - - Member meetings £ - 2,717 - - 2,717	Th Journ £ - - 172,68 -	e al 3 3 e al - - 7 - 7
	2,717	820,229	1,438
	- - - - - - - -	5,927 153,355 51,517 177,161 177,412 - 73,329 31,122	761 - - - - - - -
										172,68
										Th Journ £ 174,16
										174,16

	-	669,823	761									Total 2021 £ 146,728 146,728	Total 2020 £ 160,278 160,278 Total 2020 £ 129,156 129,156
	2,717	150,406	677				5 Other trading activities - Group
							Trading activities

	-	16,390	4,631
	2,717 97,597	166,796 431,707	5,308 88,277


							6 Other income - Charity
							Other income					Total 2021 £ 114,927 114,927
	100,314	598,503	93,585

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

6 Other income Charity Notes to the Financial Statements For the year ended 31 December 2021

6 Other income Charity
Other income Notes to the Financial Statements For the year ended 31 December 2021			Total 2021 £ 114,927 114,927	Total 2020 £ 129,156 129,156


7 Analysis of expenditure - Group	Direct	Support	Total 2021 £ 7,272 166,425 55,207 191,204 250,999 18,000 6,800 103,603 31,801 831,311	Total 2020 £ 6,688 153,355 51,517 177,161 177,412 - - 73,329 31,122 670,584
Costs of raising funds Charitable activities: Member services Member meetings Journal costs Quality Assured Appraisal Scheme Public Health England (PHE) Grant Expenditure Others: Awards and prizes Corporate affairs Commercial trading costs Total resources expended	costs £ 7,272 88,724 29,307 150,196 220,782 18,000 6,800 62,595 31,801 615,477	Costs £ - 77,701 25,900 41,008 30,217 - - 41,008 - 215,834

Analysis of support costs - Group and Charity Staff & related costs Office & IT costs	Total 2021 £ 59,892 60,336	Total 2020 £ 63,904 45,960
Cost of premises Finance costs Governance costs Total support costs	31,260 1,377 62,969 215,834	31,260 3,609 39,019
		183,752

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

Notes to the Financial Statements For the year ended 31 December 2021

8 Net income/ (expenditure) for the year	2021 £ 6,755 13,820 31,260 2021 £ 4,000 - 2,800 6,800	2020 £ 8,920 13,506 58,215
This is stated after charging: Auditor's remuneration (excluding VAT) - Statutory audit Depreciation and amortisation Property Rental Licence
		2020 £ - - -
9 Awards and prizes (Group and charity)
Golden Jubilee award SOM and ESSO Prizes Other award costs
		-

10 Analysis of staff costs, trustee remuneration and expenses, a Staff costs were as follows: and the cost of key management personnel



Salaries and wages Social security costs Pension contributions	2021 £ 300,919 29,301 10,471 340,691	2020 £ 274,692 30,673 9,861
		315,226

The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the period was one (2019: one).

Between £90,001 and £100,000 : One (2019 : One)

The total employee benefits including pension and employer NI contributions of the key management personnel were £252,155 (2020: £239,995).

b Staff numbers

There were 7 employees based on average headcount (2019: 6).

c Trustee information

None of the trustees received emoluments in the current or preceding year. During the period 2 trustees (2020:1) received reimbursed travel expenses of £945 (2020: £154) and £826 (2020: £639) was spent for Trustee Indemnity insurance. No payments were made direct to third parties on their behalf.

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the Financial Statements For the year ended 31 December 2021

Intangible fixed assets (Group and charity)
Cost
At 1 January 2021		59,659
Additions		4,825
At 31 December 2021		64,484
Amortisation
At 1 January 2021		46,826
Charge for the year		12,495
At 31 December 2021		59,321

Net Book Value At 31 December 2021		5,163

Net Book Value At 31 December 2020		12,833
Intangible fixed assets includes SOM website and SOM	'App' development costs

11 Intangible fixed assets (Group and charity)	'App' development costs	59,659 4,825
Cost At 1 January 2021 Additions At 31 December 2021 Amortisation At 1 January 2021 Charge for the year At 31 December 2021 Net Book Value At 31 December 2021 Net Book Value At 31 December 2020 Intangible fixed assets includes SOM website and SOM
		64,484
		46,826 12,495
		59,321
		5,163

		12,833

12 Tangible fixed assets (Group and charity)	2021 £ 575,860 194,432 (162,880) (1,626) 32,200	£ 36,757 4,230 Office equipment
Cost At 1 January 2020 Additions At 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2019 Net Book Value At 31 December 2020 At 31 December 2020
		40,987
		32,836 1,325
		34,161
		6,826
		3,921
		2020 £ 542,313 89,245 (85,356) (2,655) 32,313
13 Investments (Group and charity)
Listed investments Market value at 1 January 2021 Acquisitions at cost Sale proceeds of disposals Realised gains/ (losses) on disposals Unrealised gains/ (losses) on revaluation Market value at 31 December 2021 Historical cost of investments held at 31 December 2021
	637,986	575,860
	538,408	459,889

Notes to the Financial Statements For the year ended 31 December 2021

					Market value 2020 £ 188,085 180,442 207,333 575,860 575,860 2020 £ 10 10
Fixed interest UK equities and funds International equities Financial instruments measured at fair value through profit and loss Investments (Charity) Investment in subsidiary (see note 21) All investments are listed on recognised stock exchanges and are valued at 31 December 202 13 Investments (Group and Charity) continued	1	as fo	Market value 2021 £ 201,885 255,701 180,400 llows:
			637,986
			637986
			, 2021 £ 10
			10

			2021 £ 35,316 79,290 6,129 20,735 2021 £ 507 67,015 35,318 1,063 03,903 2021 £ 5,191 56,287 28,422 11,165 78,774 79,839 2021 £ 4,741 52,084 28,422 12,515 78,774 76,536	1	2020 £ 10,362 01,673 6,750 18,785 2020 £ 507 94,998 14,502 - 10,007 2020 £ 10,968 60,156 10,150 15,495 55,095 51,864 2020 £ 11,868 58,476 12,086 15,495 55,095 53,020

14 Debtors (Group)
Trade debtors Prepayments & accrued income Other debtors Debtors (Charity) Trade debtors Prepayments & accrued income
		1		1

Due from SOM Enterprises Ltd
Other debtors
		1		1
				1
15 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 2022 appraisal meetings)		1

		1		1

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the Financial Statements For the year ended 31 December 2021

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 £10,471 (2020:£9,861).

17 Total Funds (a) Group unrestricted Funds - current year	Group Funds	Total 2020 £ 698,817 63,787 16,634
At 1 January 2021 Net income/(expenditure) before transfers Realised and Unrealised gains on investments At 31 December 2021 Group unrestricted Funds (prior year) As at 1 January 2020 Net income/(expenditure) before transfers Realised and Unrealised gains on investments	£ 100,314 - - 100,314 Group Funds £ 97,597 2,717 -
		779,238
		Total 2019 £ 529,304 153,123 16,390
At 31 December 2020	100,314	698,817
		£ 93,585 1,344 5,096 Golden Jubilee Fund
(b) Designated Funds - current year
At 1 January 2021 Add:
Investment income
Realised and Unrealised gains on investments Less: Investment management costs Golden Jubilee Award At 31 December 2021 Designated Funds - prior year At 1 January 2020 Add: Investment income Realised and Unrealised gains on investments
		100,025 827 4,000
		95,198
		£ 88,277 1,438 4,631 Golden Jubilee Fund
Less: Investment management costs Golden Jubilee Award At 31 December 2020		761 -
		93,585

Notes to the Financial Statements For the year ended 31 December 2021

(c) Permanent Endowment Fund At 1 January 2021 Add: Realised and Unrealised gains on investments At 31 December 2021 Permanent Endowment Fund (prior year) At 1 January 2020 Add: Realised and Unrealised gains on investments At 31 December 2020	£ 166,571 8,844 Permanent Endowment Fund
	175,415
	£ 157,934 8,637 Permanent Endowment Fund
	166,571

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

Unrestricted Funds £ 5,163 6,826 367,373 399,876 779,238 £ 12,833 3,921 315,704 366,359 Unrestricted Funds	Permanent Endowment Fund £ - - 175,415 - 175,415 £ - - 166,571 - Permanent Endowment Funds	Total 2020 £ 5,163 6,826 637,986 399,876
		1,049,851
		Restated Total 2018 £ 12,833 3,921 575,860 366,359
698,817	166,571	958,973

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.

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

Our supporters

Notes to the Financial Statements

For the year ended 31 December 2021

19 Operating lease and other future commitments 2021 Operating leases that expire: £ Less than one year 30,600 1-2 years 30,600 2-5 years 22,950 84,150 20 Trading Subsidiary Future minimum lease commitments under non-cancellable operating leases for office equipment are as follow	2020 £ 30,060 22,545 - s:
	52,605

20 Trading Subsidiary

Thanks to our corporate supporters

As at 10 October 2012 SOM Enterprises Ltd, a trading subsidiary of SOM charity, was incorporated in England, Company registration Number 08248047. The entity is controlled by The Society of Occupational Medicine who owns the Shares in SOM Enterprises Ltd.

Profit and Loss Turnover Cost of Sales Administration expenses Profit before Gift aid	£ 131,921 (26,641) (74,076) 31,204 (31,204) Year Ended 31 December 2021	Year Ended 31 December 2020 £ 126,343 (23,321) (71,770)
		31,252
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	- - - £ 57,216 23,834 (43,687) 37,363 10 37,353 37,363	- -
		-
		£ 33,902 27,429 (23,968)
		37,363
		10 37,353
		37,363

21 Related party transactions

There were no other disclosable related party transactions during the year (2020: none)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

Structure

THE SOCIETY OF OCCUPATIONAL MEDICINE

Join us

The Society of Occupational Medicine structure December 2021

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BOARD OF TRUSTEES
President: Dr Jayne Moore
Honorary Secretary: Dr Rae Chang
Remuneration Diversity and
Sub-Committee Inclusion Task Force
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The Society of Occupational Medicine (SOM) is the largest and oldest national professional organisation of individuals with an interest in occupational health (OH). Membership is for anyone working in and with an interest in OH. It 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. 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, increases awareness and seeks to positively influence the future of OH.

How you can get involved:

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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
rotating
Professor Kaveh Asanati Technicians, HAVS
Commercial providers group Networks
Chair: Dr Mike Goldsmith e.g. MSK at work, Sleep
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SUB GROUPS
Education
Editorial Programme group
Panel
Committee (Conference)
Chair:
Editor: Chair:
Professor Kaveh Asanati
Professor 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
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SOM is a member of the Council for Work and Health that meets quarterly (rep CEO/President) and the International Occupational Medicine Society Collaborative that meets bi-monthly (rep Dr Richard Heron).

[ Join us – at][www.som.org.uk]
[ Collaborate with us by becoming a Corporate Partner]
[ Sign up to our e mail lists]
[ Volunteer with us]

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE SOCIETY OF OCCUPATIONAL MEDICINE

text here ranged right

The Society of Occupational Medicine 2 St Andrews Place NW1 4LB www.som.org.uk

@SOMNews

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

Charity Commission no: 1184142 Scottish Charity no: SC041935 VAT no. 927 0030 57

36 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Contents

President’s report Dr Jayne Moore

CEO’s report Nick Pahl

Honorary Treasurer’s Report Dr Sheetal Chavda

The SOM Occupational Health Awards 2021

Objects of the Charity

Awards

Esso Prize

Achievements in 2021

Organisational structure

Related parties and connected organisations

Accounting policies

Golden Jubilee Fund

Reserves Policy and concern re COVID-19

Investment powers and policy

Policy for Awards and Prizes

Risk Statement

Public benefit statement

Induction

Appointment of Trustees

Auditor

Statement of Trustees' responsibilities

Provision of information to auditors

Independent auditor’s report to the Members and Trustees of The Society of Occupational Medicine

Opinion

Conclusions relating to going concern

Other information

Basis for opinion

Matters on which we are required to report by exception

Responsibilities of trustees

As part of our planning process:

permanent endowment funds

Andrew Rich (Senior Statutory Auditor)

For and on behalf of HW Fisher LLP

Use of our report

Consolidated Statement of Financial Activities

Balance Sheets as at 31 December 2021 Company No 11380861

Consolidated Statement of Cash Flows For the year ended 31 December 2021

b) Analysis of changes in net funds

1 Accounting policies

Charity Information

Basis of preparation

Group financial statements

Going concern

Income

1 Accounting policies (continued)

Donations of gifts, services and facilities

Expenditure

1 Accounting policies (continued)

Cash at bank and in hand

Pensions

Tax status

Significant judgements and estimates

Fund accounting

Operating leases

Intangible fixed assets

Tangible fixed assets

Listed investments

Financial instruments

6 Other income Charity Notes to the Financial Statements For the year ended 31 December 2021

16 Pension scheme

Permanent Endowment Fund

18 Analysis of net assets between funds - current year

Golden Jubilee Award Fund

Notes to the Financial Statements

Thanks to our corporate supporters

The Society of Occupational Medicine structure December 2021