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2022-12-31-accounts

The Society of Occupational Medicine Trustees’ report and financial statements for the year ended 31 December 2022

A Charitable Company No 11380861 Charity No 1184142

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Structure

BOARD OF TRUSTEES President: Dr Shriti Pattani Honorary Secretary: Dr Rae Chang

Editorial Committee Diversity and Remuneration Editor in Chief Inclusion Task Force Sub-Committee Professor Steven Nimmo Chair: Dr Sheetal Chavda Strategic Clinical Advisers: Christine Poulter; Dr David Roomes

SOM COUNCIL Chair: Dr Vicky Mason SOM Regional Group Chairs; SOM Education Panel Chair; Occupational Medicine Journal Editor in Chief

Networks Education Panel Special Interest Groups Chair: Professor Kaveh Asanati MSK at Work; Sleep . SOM hosts the Construction, HAVS etc Independent Academic Forum – (also Chair of Awards) Chair: Professor Ewan Macdonald

Contents

Page Annual Report Dr Shriti Pattani – President . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Nick Pahl – CEO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Dr Sheetal Chavda – Honorary Treasurer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34

SUB GROUPS

Programme group Appraisal Mambership Golden Jubilee (Conference) management Development Group Award Panel Chair: group Chair: Dr Vicky Mason 2 Trustees SOM/FOM rotating Chair: Nick Pahl

STAFF

----- Start of picture text -----
Consultant – Clinical
CEO Consultant – Policy
Appraisal Lead
Nick Pahl Claire Matthys
Dr Nerys Williams
Assistant Editor
Operations and Financial Communications and
Angela Burnett
Membership Manager Controller Events Manager
Volunteer for Journal
Nick Llewellin Sujal Naik Ann Caluori
Jane Bartram
Membership and
Administrator
Appraisals Co-ordinator
Natasha Sethna
Barbara Ciannavei
----- End of picture text -----

The trustees present their report and financial statements for the year ended 31 December 2022 . The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 and ‘’Accounting and Reporting by Charities: the 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 (FRS102) (effective from 1 January 2019)” .

Front cover: left to right

Dr Sheetal Chavda, SOM Treasurer, Professor Anne Harriss, SOM Past President, Dr Rae Chang, SOM Honorary Secretary, Dr Shriti Pattani, SOM President, Dr Vicky Mason, Chair, SOM Council, Dr Jayne Moore, SOM Past President

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

President’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

President’s report Dr Shriti Pattani

2022 was a year when we collaborated or worked in partnership with many other organisations such as the Faculty of Occupational Medicine, the Council for Work and Health, the Royal College of Nursing, the Faculty of Public Health, HSE and the NHS Growing OH and Wellbeing team . This collaboration was important as rates of worklessness due to ill heath rise in the UK .

SOM advocacy and policy work had demonstrable impact on policy makers, following the Health is everyone’s business response – leading to a Budget response in 2023 .

It has been a privilege to visit SOM Regional Groups who continue, with Special Interest Groups (SIGs), to bring members together . I was pleased to instigate new SIGs for DOcc Meds and Allied Health Professionals . Outputs from the Long COVID, Occupational Psychology, Nuclear Ionising Radiation, Occupational Health Technicians, HAVS and Construction SIGs were particularly useful . There have also been workplace visits such as HM Royal Naval Dockyard in Plymouth, and I enjoyed meeting colleagues at the SOM/FOM Conference in Edinburgh .

SOM is grateful for the support of its Corporate Supporters in 2022 .

----- Start of picture text -----
Lord Popat,
SOM's new
Patron, at
the book
launch
----- End of picture text -----

Art and Occupation features the series of articles written by Dr Mike McKiernan for the journal Occupational Medicine.

In 2023, SOM will celebrate 10 years of the International Occupational Medicine Society Collaborative, of which it was a co-founder . A new charity is planned to support development .

I was also pleased to see SOM launch a new book on Art and Occupation with SOM’s new Patron, Lord Popat, in attendance . Thanks to Dr Mike McKiernan for pulling a wonderful book together

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THE SOCIETY OF OCCUPATIONAL MEDICINE

CEO's repor

THE SOCIETY OF OCCUPATIONAL MEDICINE

Honorary Treasurer's report

CEO’s report Nick Pahl

Value to members is a core part of what SOM offers, and I am pleased to say that in 2022 total membership rose to over 1900 .

The growth of Special Interest Groups (SIGs) was centre stage in 2022 . SOM hosts SIGs on a variety of topics, from Construction, Noise Induced Hearing Loss, Mental Health, Nuclear Industry Ionising Radiation, to Occupational Health Technicians . SIGs were also launched for Allied Health Professionals, and doctors with a Diploma in Occupational Medicine . Guides on neurodiversity, Long COVID and HAVS were produced . New members are always welcome to these groups .

Parliamentary questions were asked regarding occupational health (OH) and letters sent to Ministers regarding the role of OH in reducing worklessness due to ill health . SOM is a member of the Growing OH NHS strategy group and advised on many aspects of DWP/ DHSC occupational health policy .

During the year, SOM has been supporting the professional development of members e .g . for OH technicians through a new Open Awards qualification .

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

Honorary Treasurer’s Report

Dr Sheetal Chavda

I am pleased to say that income was above target against budget . Total expenditure was also above budget although cost savings have been made in support costs . Direct costs were over budget, due to travel expenditure incurred at the SOM/FOM conference, a HW Fisher LLP VAT report and staff salaries reflecting market and cost of living pressures in 2022 . The VAT report led to clear “rules” to follow with a oneoff back payment in line with these rules .

The Investec investment portfolio was liquidated in June 2022, to re-invest in environmental investments . An investment loss of £61k occurred . The proceeds were held as cash at 2022-year end and were reinvested in 2023 .

Journal income, Corporate Supporter and job advertising income exceeded budget . Membership income is down on budget . Other income includes that from Lloyd & Whyte, the RCN conference, webinars, and net income to date from the Art and Occupation book .

In 2023 SOM received £50k from Oxford University Press as part of the new contact . SOM used this to facilitate a ‘scholarship scheme’ whereby SOM paid for nine individuals to enrol on various occupational health related educational courses to further their careers . On 31 December 2022, £31k (of the original £50K) was deferred to 2023 . A £5k income was received from the DHSC OHID for a musculoskeletal for young people toolkit .

SOM has a good cash flow position for the year into 2023 . Trustees agreed to transfer £100k into a higher interest account at Lloyds in 2022 as a result .

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

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Legal information

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Right: In March 2022 SOM launched a refreshed version of its key Value Proposition document.

Diversity and Inclusion Task Force

This Task Force reports to the Board and is chaired by Dr Sheetal Chavda . It has produced an inclusion directory and podcast, written blogs, contributed to a factsheet, and carried out unconscious bias training for Board members . Discussions have occurred across SOM Regional Groups and with organisations such as the BMA, the Professional Standards Authority, the Faculty of Occupational Medicine, the RCN, and the King's Fund . Presentations have occurred at webinars and several national conferences . SOM has carried out a self-assessment to ensure inclusion of our diverse membership in all services and activities . Leadership opportunities have also been offered to group members . A Commitment to Diversity and Inclusion has been produced and there is a new award in diversity and inclusion as part of the SOM annual awards . Trustees have agreed to additionally focus on women’s health going forward .

Occupational Health: The Value Proposition

Dr Paul J Nicholson OBE March 2022

Legal and administrative details for the year ended 31 December 2022

Trustees Dr Jayne Moore Past President Dr Lanre Ogunyemi President elect Dr Shriti Pattani President Dr Rae Chang Honorary Secretary Dr Sheetal Chavda Honorary Treasurer Dr Vicky Mason Chair of Council Professor Neil Greenberg Trustee from 2020 Mr Shaun Davis Trustee from 2017 Mr Jonathan Gawthorp Trustee from 2021

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

The Society of Occupational Medicine is a registered charity in England & Wales (2020) 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 company numbers Registered office

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

Bank

Lloyds Bank plc Kings Cross Branch PO Box 1000 BX1 1LP

Auditors

HW Fisher LLP Acre House 11-15 William Road London, NW1 3ER

Cazenove Capital 1 London Wall Place London EC2Y 5AU

Investment managers

Solicitors

Hempsons Solicitors Hempsons House 40 Villiers Street, London WC2N 6NJ

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SOM Awards

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

Awards 2022

Trustees’ report

SOM Honorary Membership – Peter Cheese and Sir Chris Whitty

Golden Jubilee Award – Janet O’Neill, Dr Jane Thake, and Dr Paul McGovern

Regional Group of the Year – East Midlands

SOM President, Dr Shriti Pattani, with the Chief Medical Officer, Sir Chris Whitty, and President of the Royal College of Physicians, Dr Andrew Goddard, at an unveiling of a COVID-19 memorial

Objects of the Charity

disease, injury, or disability by supporting them to keep in work or assist them to get into work .

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 .

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 .

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,

Achievements in 2022

HAVS, MSK at work for young people (with DH/DHSC OHID) and Sleep

Total members: 1,903

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

A new strategy for 2020-23 was signed off by the Board in 2019 . The majority of the SOM’s funds are raised through membership subscriptions . Results for the year show net expenditure of £1,018,828 . Funds of the Group as of 31 December 2022 amounted to £946,916 .

Investment powers and policy

The Trustees reviewed and approved its Investment policies in June 2022 . Investments were liquidated at year-end from Investec and moved to environmental focused funds . Following a Trustee selection process, the Charity appointed new investment managers, Cazenove, to provide a discretionary portfolio management service . Liquidated funds were held as ‘cash’ as at 31st December 2022 . Trustees reviewed and approved the Investment policies for these funds in June 2022 . The Charity has appointed Cazenove to provide a discretionary portfolio management service . The investment objective is for a long-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 long-term 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 was no change in risk level views in 2022 .

Organisational structure

The SOM employs 7 staff: a CEO, a financial controller, an operations and membership manager, an assistant editor, a communications and events manager, an administrator and an appraisal and membership co-ordinator . Dr Nerys Williams advises on appraisals and SOM contracts with a consultant on advocacy and for its conference .

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

The SOM has adopted the recommendations and is committed to full compliance with the Charities SORP . Accounting policies were reviewed and approved by Trustees in June 2022 .

In 2022 the Journal launched a Journal Club, hosted a successful Authors’ workshop, and built on its impact factor.

Visit of Chloe Smith MP to Transport for London Occupational Health Department in May 2022

months’ core expenditure, which is in place .

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 .

Free reserves in the Central Fund at the year end amounted to £595,574 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 2022 .

Reserves Policy

SOM’s reserves support SOM’s aim to provide the necessary infrastructure with respect to administration and premises . Regular meetings with SOM’s investment managers to review the portfolios take place to ensure that an appropriate, ethical, and productive reserves policy is maintained .

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 2022 .

Funds can then be available to support the charity’s aims and objectives e .g . to facilitate improved administrative processes, modernisation of information technology systems, and support the educational activities of the Society’s regional groups . This investment in turn supports membership and promotes good practice and governance . SOM’s target to maintain a level of free reserves to cover six

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, the age range

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

THE SOCIETY OF OCCUPATIONAL MEDICINE

Trustees' report

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 and the register is reviewed in detail at every Trustee Board meeting . Reviews this year led to changes to reflect the 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 OH 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 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 .

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 are 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 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 .

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 .

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 require 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:

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,

Auditors

This report was approved and authorised by the Trustees on 14 June 2023 and signed on their behalf by Dr Sheetal Chavda and Dr Rae Chang

Dr Sheetal Chavda Dr Rae Chang Honorary Treasurer Honorary Secretary

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Independent auditor’s report

Independent auditor’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

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 2022 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 .

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 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:

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:

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 .

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Independent auditor’s report

Independent auditor’s report

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors 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 noncompliance 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 can detect irregularities, including fraud, is detailed below .

As part of our planning process:

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 .

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

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 .

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 .

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 d 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 .

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

Andrew Rich (Senior Statutory Auditor)

For and on behalf of HW Fisher LLP

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

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2023

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Financial records

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Financial Activities

(incorporating an income and expenditure account) For the year ended 31 December 2022

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
Total Income

Expenditure on:
Raising funds
5
Charitable activities:
5
Member services
Member meetings
Journal costs
Quality Assured Appraisal Scheme
Grant Related Expenditure
Other:
Awards and prizes
7
Corporate afairs
5
Commercial trading costs
5
Total expenditure
Net income/(expenditure) before
net gains (losses) on investments
Realised and Unrealised gains/(losses)
11
Net income (expenditure) for
the year / Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Group
Funds
£
–
–
–
–
–
–
–
4,20–
–
–
–
–
–
–
–
–
–
–
–
–
–
100,314
100,314
Group
Funds
£
–
–
–
–
–
–
–
4,20–
–
–
–
–
–
–
–
–
–
–
–
–
–
100,314
100,314		 Permanent
Central
Designated Endowment
2022
2021
Funds
Funds
Fund
Total
Total
£
£
£
£
£
–
–
–
–
18,000
318,487
–
–318,487
324,911
–
–
–
–
–
191,734
–
–191,734
172,683
218,950
–
–218,950
220,345
8,055
815
–
8,870
8,948
238,637
–
–238,637
146,728
975,863
815
–976,678
891,615
4,023
384
–
4,407
7,272
227,788
–
–227,788
166,425
69,867
–
–
69,867
55,207
205,701
–
–205,701
191,204
236,687
–
–236,687
250,999
–
–
–
–
18,000
24,537
7,000
–
31,537
6,800
149,963
–
–149,963
103,603
92,878
–
–
92,878
31,801


1,011,444
7,384
–1,018,828
831,311
(35,581)
(6,569)
–
(42,150)
60,304
(37,935)
(6,137)
(16,713)
(60,785)
30,574
(73,516)
(12,706)
(16,713)
(102,935)
90,878
678,924
95,198
175,4151,049,851
958,973
100,314 605,408
82,492
158,702
946,916 1,049,851

All amounts relate to continuing operations .

Balance Sheets as at 31 December 2022 Company no 11386861

Note
Fixed Assets
Intangible Assets
9
Tangible fxed assets
10
Investments
11
––
––
––
Current Assets
Debtors
12
Cash at bank and in hand

––

Current Liabilities
Creditors: amounts falling due within one year
13

––
Net Current Assets
––
Net Assets
16
––
––
Represented by:
Unrestricted funds
15
Group funds
Central funds
Designated funds
Permanent endowment fund
––
Total Funds
––
––		 20
Group
£
3,716
6,118
––
9,834
123,829
1,192,457
1,316,286
(379,204)
937,082
946,916
100,314
605,408
82,492
158,702
946,916		 22
2021
Charity
Group
Charity
£
£
£
3,716
5,163
5,163
6,118
6,826
6,826
10
637,986
637,996
9,844
649,975
649,985
148,983
120,735
103,903
1,125,917
458,980
435,146
1,274,900
579,715
539,049
(375,181)
(179,839)
(176,536)
899,719
399,876
362,513
909,563
1,049,851
1,012,498
100,314
100,314
100,314
568,055
678,924
641,571
82,492
95,198
95,198
158,702
175,415
175,415
909,563
1,049,851
1,012,498

The charitable company's net deficit for the year was £102,935 (2021: surplus of £90,878) .

The financial statements were approved and authorised for issue by the Board of Trustees and signed on its behalf on …………………………… . .

……………………………………………………… Dr Sheetal Chawda Honorary Treasurer ……………………………………………………… Dr Rae Chang Honorary Secretary

18

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

19

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Financial records

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Consolidated Statement of Cash Flows For the year ended 31 December 2022


Note
Cash fows from operating activities:
Net cash provided by/ (used in) operating activities
a
Cash fows from investing activities:
Dividends, interest from investments
Purchase of intangible assets
Purchase of ofce 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
a) Reconciliation of net income / (expenditure) to
net cash fow from operating activities
Net income / (expenditure) for the year
(as per the statement of fnancial activities)
Adjustments for:
Depreciation and amortisation
Interest and dividends from investments
(Gains)/losses on disposal of investments
Decrease/ (Increase) in debtors
Increase/ (Decrease) in creditors
Net cash used in operating activities		 2022
£
8,870
–
(1,175)
605,010
(27,809)

2022
£
(102,935)
3,330
(8,870)
60,785
(3,094)
199,365
148,581		 2022
£
148,581
584,896
733,477
458,980
1,192,457		 2021
£
91,201
8,948
(4,825)
(4,230)
162,880
(194,432)
(31,659)
59,542
399,438
458,980
2021
£
90,878
13,820
(8,948)
(30,574)
(1,950)
27,975
91,201

b) Analysis of cash and cash equivalents

The charity and group had no debt during the year .

Notes to the financial statements For the year ended 31 December 2022

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)'' .

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 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 value unless 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 or loss 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 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 .

20

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

21

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Financial records

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the financial statements For the year ended 31 December 2022

1 Accounting policies (continued)

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 . 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 .

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:

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 .

Notes to the financial statements For the year ended 31 December 2022

1 Accounting policies (continued)

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 .

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

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

22

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

23

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Financial records

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the financial statements For the year ended 31 December 2022

2 Detailed comparatives for the consolidated statement of financial activities

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
Grant Related Expenditure
Other:
Awards and prizes
Corporate afairs
Commercial trading costs
Total expenditure
Net income before net gains /
(losses) 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		 Group
Funds
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
100,314
100,314		 Permanent
CentralDesignated
Restricted Endowment
2021
Funds
Funds
Fund
Fund
Total
£
£
£
£
£
–
–
18,000
–
18,000
324,911
–
–
–
324,911
–
–
–
–
–
172,683
–
–
–
172,683
220,345
–
–
–
220,345
7,604
1,344
–
–
8,948
146,728
–
–
–
146,728
872,271
1,344
18,000
–
891,615
6,445
827
–
–
7,272
166,425
–
–
–
166,425
55,207
–
–
–
55,207
191,204
–
–
–
191,204
250,999
–
–
–
250,999
–
–
18,000
–
18,000
2,800
4,000
–
–
6,800
103,603
–
–
–
103,603
31,801
–
–
–
31,801
808,484
4,827
18,000
–
831,311
63,787
(3,483)
–
–
60,304
16,634
5,096
–
8,844
30,574
80,421
1,613
–
8,844
90,878
598,503
93,585
–
166,571
958,973
678,924
95,198
–
175,415
1,049,851		 2021
Total
£
18,000
324,911
–
172,683
220,345
8,948
146,728		 2021
Total
£
18,000
324,911
–
172,683
220,345
8,948
146,728
891,615
7,272
166,425
55,207
191,204
250,999
18,000
6,800
103,603
31,801
831,311
60,304
30,574

Notes to the financial statements For the year ended 31 December 2022

3 Income from donations and grants

Public Health England (PHE)
Income from charitable activities
Member services
Members subscriptions
Member meetings
Branch meetings & symposia
The Journal
Proft share from OUP The Journal
Quality Assured Appraisal Scheme
QAAS appraisal fees		 2022
Total
£
–
–
2022
Total
£
318,487
–
191,734
218,950

729,171
 2021
Total
£
18,000
18,000
2021
Total
£
324,911
–
172,683
220,345
717,939

24

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

25

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Financial records

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the financial statements For the year ended 31 December 2022

5 Analysis of expenditure
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 afairs
Commercial trading costs
Total resources expended		 Direct
Support
costs
Costs
£
£
4,407
–
116,976
110,812
32,930
36,937
147,217
58,484
193,593
43,094
–
–
31,537
–
91,479
58,484
92,878
–
711,017
307,811		 Total
2022
£
4,407
227,788
69,867
205,701
236,687
–
31,537
149,963
92,878
1,018,828		 Total
2021
£
7,272
166,425
55,207
191,204
250,999
18,000
6,800
103,603
31,801
831,311
Analysis of support costs
Staf & related costs
Ofce & IT costs

Cost of premises
Finance costs
Governance costs

Total support costs
 Total
2022
£
75,648
115,070
31,260
2,187
83,646
307,811		 Total
2021
£
59,892
60,336
31,260
1,377
62,969
215,834

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

6 Net income/ (expenditure) for the year
This is stated after charging:
Auditor’s remuneration (excluding VAT)
– Statutory audit
Depreciation and amortisation
Property rental licence
7 Awards and prizes (Group and charity)
Golden Jubilee award
SOM and ESSO Prizes
Other award costs		 2022
£
16,524
3,330
31,260
2022
£
7,000
–
24,537
31,537		 2021
£
6,755
13,820
31,260
2021
£
4,000
–
2,800
6,800

Notes to the financial statements For the year ended 31 December 2022

a Staf costs were as follows:
Salaries and wages
Social security costs

Pension contributions
 2022
2021
£
£
343,204
300,919
40,785
29,301
12,410
10,471
396,399
340,691

The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the period was one (2021: one) .

Between £90,001 and £100,000 : One (2021: One)

The total employee benefits including pension and employer NI contributions of the key management personnel were £286,661 (2021: £252,155) .

b Staff numbers

There were 7 employees based on average headcount (2021: 7) .

c Trustee information

None of the trustees received emoluments in the current or preceding year . During the period 7 trustees (2021:2) received reimbursed travel expenses of £7,656 (2021: £945) and £738 (2021: £638) was spent for Trustee Indemnity insurance . No payments were made direct to third parties on their behalf .

9 Intangible fixed assets (Group and charity)

Cost
At 1st January 2022
At 31st December 2021
Amortisation
At 1st January 2022
Additions
At 31st December 2021
Net Book Value at 31 December 2022
Net Book Value at 31 December 2021		 £
64,484
64,484
59,321
1,447
60,768
3,716
5,163

Intangible fixed assets includes SOM website and SOM 'App' development costs .

26

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

27

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Financial records

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the financial statements For the year ended 31 December 2022
10 Tangible fxed assets (Group and charity)
Ofce
equipment
Cost £
At 1st January 2022 40,987
Additions 1,175
At 31st December 2021 42,162
Depreciation
At 1st January 2022 34,161
Charge for the period 1,883
At 31st December 2021 36,044
Net Book Value
at 31 December 2022 6,118
At 31 December 2021 6,826
11 Investments (Group and charity)
Investments (Group and charity)
2022 2021
Listed investments £ £
Market value at 1 January 2022 637,986 575,860
Acquisitions at cost 27,809 194,432
Sale proceeds of disposals (605,010) (162,880)
Realised gains/ (losses) on disposals (60,785) (1,626)
Unrealised gains/ (losses) on revaluation – 32,200
Market value at 31 December 2022 – 637,986
Historical cost of investments held at 31 December 2022 – 538,408
All investments are listed on recognised stock exchanges
and are valued at 31 December 2022 as follows: Market value Market value
2022 2021
£ £
Fixed interest – 188,085
UK equities and funds – 180,442
International equities – 207,333
– 575,860
Financial instruments measured at fair value through proft & loss – 575,860

Notes to the financial statements For the year ended 31 December 2022

11 Investments (Group and charity) continued
Investments (Charity)
Investment in subsidiary (see note 18)
 2022
2021
£
£
10
10
10
10

12 Debtors

Trade debtors
Prepayments & accrued income
Due from SOM Enterprises Ltd
Other debtors

13 Creditors
Amounts falling due within one year
Trade debtors
Accruals
Social security costs and other taxes
Other creditors
Deferred Income
 2022
Group
£
32,528
91,301
–
–
123,829
2022
Group
£
7,428
105,569
71,679
–
194,528
379,204		 2022
Charity
£
507
85,701
62,775
–
148,983
2022
Charity
£
6,998
98,869
74,786
–
194,528
375,181		 2021
Group
£
35,316
79,290
–
6,129
120,735
2021
Group
£
5,191
56,287
28,422
11,165
78,774
179,839		 2021
Charity
£
507
67,015
35,318
1,063
103,903
2021
Charity
£
4,741
52,084
28,422
12,515
78,774
176,536

14 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 £12,410 (2021:£10,471) .

28

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

29

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Financial records

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Notes to the financial statements For the year ended 31 December 2022

15 Movement in funds

(a) Group unrestricted funds – current year
Group
At 1 January 2022
Income
Expenditure
Gains/ (losses) on investments
At 31st December 2022
Group unrestricted funds – prior year
Group
At 1 January 2021
Income
Expenditure
Gains/ (losses) on investments
At 31st December 2021		 & Charity
£
100,314
–
–
–
100,314
& Charity
£
100,314
–
–
–
100,314

(b) Central unrestricted funds – current year

Central unrestricted funds – current year
Group
£
At 1 January 2022
678,924
Income
975,863
Expenditure
(1,011,444)

Gains/ (losses) on investments
(37,935)

At 31st December 2022
605,408
Central unrestricted funds – prior year
Group
£
At 1 January 2021
598,503
Income
872,271
Expenditure
(808,484)

Gains/ (losses) on investments
16,634
At 31st December 2021
678,924		 Charity
£
641,571
882,985
(918,566)
(37,935)
568,055
Charity
£
561,150
840,470
(776,683)
16,634
641,571

Notes to the financial statements For the year ended 31 December 2022

(c) Designated Funds – current year Golden Jubilee fund
(Group & Charity)
£
At 1 January 2022 95,198
Investment income 815
Investment management costs (384)
Golden Jubilee Award (7,000)
Gains / (losses) on investments (6,137)
At 31st December 2022 82,492
Designated Funds – prior year
£
At 1 January 2021 93,585
IInvestment income 1,344
Investment management costs (827)
Golden Jubilee Award (4,000)
Gains / (losses) on investments 5,096
At 31st December 2021 95,198

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 .

(d) Permanent Endowment Fund
Group &
At 1 January 2022

Gains/ (losses) on investments

At 31 December 2022

Permanent Endowment Fund (prior year)
Group &
At 1 January 2021

Gains/ (losses) on investments
At 31 December 2021
 &

 Charity
£
175,415
(16,713)
158,702
Charity
£
166,571
8,844
175,415

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 .

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

Our supporters

Notes to the financial statements For the year ended 31 December 2022

Notes to the financial statements For the year ended 31 December 2022

16 Analysis of net assets between funds

(a) Group - current year
Permanent
Unrestricted
Designated
Endowment
Funds
Funds
Fund
£
£
£
Intangible fxed assets
3,716
-
-
Tangible fxed assets
6,118
-
-
Investments
-
-
-
Net current assets
695,888
82,492
158,702
Total net assets
705,722
82,492
158,702		 Total
2022
£
3,716
6,118
-
937,082
946,916
Group - prior year Permanent
Unrestricted Designated Endowment Total
Funds Funds Fund 2021
£ £ £ £
Intangible fxed assets 5,163 - - 5,163
Tangible fxed assets 6,826 - - 6,826
Investments 367,383 95,198 175,415 637,986
Net current assets 399,876 _ _ 399,876
Total net assets 779,238 95,198 175,415 1,049,851
(b) Charity - current year
Permanent
Unrestricted
Designated
Endowment
Funds
Funds
Fund
£
£
£
Intangible fxed assets
3,716
-
-
Tangible fxed assets
6,118
-
-
Investments
10
-
-
Net current assets
658,525
82,492
158,702
Total net assets
668,369
82,492
158,702		 Total
2022
£
3,716
6,118
10
899,719
909,563

Charity - prior year

Permanent
Unrestricted
Designated
Endowment
Funds
Funds
Fund
£
£
£
Intangible fxed assets
5,163
-
-
Tangible fxed assets
6,826
-
-
Investments
367,383
95,198
175,415
Net current assets
362,513
3–
–
Total net assets
741,885
95,198
175,415
 Total
2021
£
5,163
6,826
637,996
362,513
1,012,498

17 Operating lease and other future commitments

Future minimum lease commitments under non-cancellable operating leases for office equipment are as follows:

Operating leases that expire: 2022 2021
Less than one year 30,060 30,060
1–2 years 22,545 22,545

18 Trading Subsidiary

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 .

the Shares in SOM Enterprises Ltd
Year Ended Year Ended
31 December 31December
2022 2021
Proft and Loss £ £
Turnover 206,367 131,921
Cost of sales (88,806) (26,641)
Administration expenses (87,435) (74,076)
Proft before Gift Aid 30,126 31,204
Gift Aid to SOM charity (30,126) (31,204)
Proft / (loss) for the period – –
Balance sheet
Debtors 40,728 57,216
Cash at bank 66,540 23,834
Creditors (69,905) (43,687)
Net assets 37,363 37,363
Called up Share Capital 10 10
Proft and loss reserves 37,353 37,353
Total equity 37,363 37,363

19 Related party transactions

There were no other disclosable related party transactions during the year (2021: none)

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE SOCIETY OF OCCUPATIONAL MEDICINE

Join us

Thanks to our corporate supporters

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 .

Join us – at www.som.org.uk

Above: SOM’s Past Presidents meet at the RAF club for dinner in October 2022.

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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

Charity Commission no: 268555 Scottish Charity no: SC041935 VAT no . 927 0030 57

36 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022