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2023-12-31-accounts

2023 ANNUAL REPORT

SOCIETY OF OCCUPATIONAL MEDICINE

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

A CHARITABLE COMPANY NO 11380861 CHARITY NO 1184142

THE SOCIETY OF OCCUPATIONAL MEDICINE THE SOCIETY OF OCCUPATIONAL MEDICINE Contents SOM President, Dr Lanre Ogunyemi, with SOM Past President Dr Shriti Pattani, SOM Council Chair, Dr Vicky Mason, SOM Treasurer, Dr Sheetal Chavda and SOM Honorary Secretary, Dr Rae Chang Page Annual Report Dr Lanre Ogunyemi – President . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Nick Pahl – CEO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Dr Sheetal Chavda – Honorary Treasurer . . . . . . . . . . . . . . . . . . . . 5 SOM Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Legal and Administrative Details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Trustees' report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Independent Auditor’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Statement of Financial Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 20Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Consolidated statement of cash flows . . . . . . . . . . . . . . . . . . . . . . . 20 Notes to the financial statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Corporate Supporters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 23

The trustees present their report and financial statements for the year ended 31 December 2023 . 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) . The Trustees report also contains the directors report as required by company law .

ii TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1

THE SOCIETY OF OCCUPATIONAL MEDICINE

2023 marked a year of progress > £25m for a subsidy pilot for SMEs to SOM President, with SOM a leading voice for access OH – to examine the impact Dr Lanre Occupational Health (OH) . We were on uptake of OH and build an effective in influencing the decisions, evidence base for a national Ogunyemi programmes, and implementation of roll out . policymakers . This is in the context > Consultations concerning of rates of worklessness due to ill incentivising uptake of OH for heath rising in the UK, highlighted by employers through taxation and a SOM study into the record number explore increasing employer of people off-work long term sick . engagement with OH by regulation Briefings occurred to Treasury, No or other levers . This consultation 10 and the Labour Shadow team . will also consider “a process of SOM advocacy and policy work had kitemarking and professional demonstrable impact, following accreditation to assure quality of the ‘health is everyone’s business’ OH services” . response, with a Budget and Autumn Statement response as follows: 20 SOM President, Dr Lanre Ogunyemi with the ACEOM President, Dr Kenji Saito and FOM President, Professor Steven Nimmo 23

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THE SOCIETY OF OCCUPATIONAL MEDICINE | text here
Lord Popat,
SOM's new
Patron, at
the book
launch
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In 2023, the International Occupational Medicine Society Collaborative celebrated 10 years of operation. A new charity was launched to support development.

Wellbeing team . A new award for OH technicians was also finalised with Open Awards .

I am keen to focus on leadership of OH,

following a successful event in 2023; and the value that retired members bring . I hope activity in this area will come to fruition in 2024, for example with a new Leadership Academy .

It is a privilege to visit SOM Regional Groups who continue, with Special Interest Groups, to bring members together . I also enjoyed meeting colleagues at the SOM/FOM Conference in Newcastle .

2023 was another year when we collaborated 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

Finally, SOM is grateful for the support of its Corporate Supporters in 2023 .

2 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3

THE SOCIETY OF OCCUPATIONAL MEDICINE

THE SOCIETY OF OCCUPATIONAL MEDICINE

CEO’s report Nick Pahl Value to members is core to what SOM offers . I am pleased to say that in 2023 total membership rose to over 1970 . In 2023, SOM hosted 43 webinars with over 4,000 registrants and 10,819 recording views . We also: > hosted podcasts, such as on Multidisciplinary Working > launched an OH census to review workforce gaps > partnered with FOM regarding engaging with medical schools > scoped a new mentoring scheme 20 > held a Careers Day in September SOM hosted many successful events such as with the Royal College of Nurses and Royal Society of Medicine . SOM saw an increase in social media and online communities, with over 2 .8k Twitter followers, over 3 .1k visits to our Facebook page and over 9k LinkedIn followers . There has been a comprehensive range of Special Interest Group meetings covering areas such as Pensions, and for professional groups such as Allied Health Professionals and doctors who have completed the Diploma in Occupational Medicine, and CESR . In July 2023, a new SOM report was launched: Burnout in healthcare: risk factors and solutions . Other achievements in 2023 included a successful awareness week ( left ) . 23 SOM benefited from growth in income streams via the SOM Corporate Supporter offer with a monthly commercial providers meeting, chaired by Dr Mike Goldsmith . I am grateful for the support and expertise from SOM members, Council, the Board and staff who have been so professional, good natured and flexible . 4 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Honorary Treasurer’s Report

Dr Sheetal Chavda

The year saw a steady position with income and expenditure over budget . There was a small surplus after unrealised investment gains from the Cazenove Investment portfolio .

Member subscriptions were below target with group membership income above target . Job advertising income was below budget and measures are being put in place to ensure this offer is communicated better . Corporate Supporter income and Appraisals income was above budget . Income streams from Lloyd & White, webinars, and the RCN conference continued . SOM received income from a project on musculoskeletal knowledge gaps from Versus Arthritis – see overleaf .

SOM received £10k in contributions from IOMSC member countries, which is being held as ‘other creditors’ . We continue to make savings in Journal print costs and receive a small surplus from the SOM/FOM conference .

Support (overhead) costs were above budget due to IT costs – in particular building the OH Census and Mentoring website . A review of SOM’s VAT rules by our auditors led to a one-off back payment in line with these rules .

SOM has a good cash flow position for the year into 2024 . Trustees agreed to transfer £125k into a higher interest account at Lloyds 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 .

5

THE SOCIETY OF OCCUPATIONAL MEDICINE | SOM Awards

THE SOCIETY OF OCCUPATIONAL MEDICINE

New award –

SOM and Versus Arthritis project

level 3 certificate for

To understand what is needed to improve work outcomes and support for people with arthritis/MSK, SOM worked in partnership with Versus Arthritis . We created a survey to establish gaps in work-related training, resources, and support . Respondents were also given the opportunity to share their experience and opinions .

OH Technicians

This qualification, facilitated by SOM, enables increased skills and knowledge for Occupational Health Technicians (OHTs) . Designed with the support of SOM . and experienced OH Professionals (under whose supervision this role operates) . The qualification focuses on the essential skills and knowledge required to fulfil the role of an OHT, combining both principles and practice, and is mapped to an OHT Training Curriculum .

Following this survey, SOM hosted a webinar with Versus Arthritis to share some of the findings and explore solutions . The survey and webinar revealed a clear and overwhelming need for specific work-related information, better understanding of the impact of arthritis/MSK conditions and access to self-management support . Better support within the workplace was seen as key: ‘Getting the employer to understand the importance of the right fit between the person, their job tasks/demands and the work environment .’

Clarity is needed with regards to the resources that are already available, with a clear pathway for workplace professionals, employers, and people with arthritis to help them access the information and support needed to improve work outcomes .

SOM report launched on mental health

A new SOM report was launched in 2023: The value of Occupational Health and Human Resources in supporting mental health and wellbeing in the workplace .

With concerns around mental health and wellbeing growing, the challenge lies in how organisations can adequately support staff . Both OH and HR play a pivotal role in supporting a more preventative approach to staff mental health and wellbeing, especially with decisions based on good and evidence-based practice . The report, commissioned with CIPD, supports this . The report covers legal responsibilities of organisations to their workforce, different interventions, and how OH and HR practitioners can take a more holistic approach that includes prevention and support, as well as rehabilitation . It includes seven questions to guide organisations through what they can do, signposting resources, tools, and evidence summaries . It is hoped that this report will encourage organisations to draw on their expertise and build up their capacity .

The value of Occupational Health and Human Resources in supporting mental health and wellbeing in the workplace

Prepared by Dr Kevin Teoh Chartered Psychologist Birkbeck, University of London

Thanks to Dr Kevin Teoh for producing this report, with CIPD .

SOM Honorary Membership Sir Simon Wessley (right)

Golden Jubilee Award Dr Richard Heron and Dr Cornelius Grobler

Regional Group of the Year

Joint winners: London and South Wales & West of England Group

SOM Occupational Health Awards 2023 winners:

Outstanding Occupational Health Team Winner : Transport for London

Outstanding Occupational Health Initiative, sponsored by NEBOSH Winner : Catherine Oinonen, Kirklees Council

Outstanding Occupational Health Practitioner Highlight good practice : Alex Price; Highly commended: Dr Aaliya Goyal; Winner : Dr Emma McCollum

Outstanding Contribution to Diversity and Inclusion, sponsored by NEBOSH Winner : Dr Sheetal Chavda

Outstanding Contribution to Occupational Health Research, sponsored by Cordell Health Special recognition: Dr Kevin Teoh; Highly commended : Priscilla Wong; Winner : Dr Jo Daniels

Outstanding Contribution to the Development of OH Globally Joint Winners: Dr Richard Heron and Dr Clare Rayner

Outstanding Contribution by an Employer to Workplace Health and Wellbeing, sponsored by Greys Specialist Recruitment Winner : Met Police

SOM Lifetime Achievement award, sponsored by Cordell Health Joint Winners: Dr Alan Scott and Dr Jalees Razavi

6 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7

THE SOCIETY OF OCCUPATIONAL MEDICINE | Legal information

THE SOCIETY OF OCCUPATIONAL MEDICINE | Trustees’ report

Trustees Legal and Thanks to the following Trustees who served during the year and up to the date of approval of the financial statements . administrative Dr Jayne Moore Past President Dr Lanre Ogunyemi President Elect, President from June 2023 details for the Dr Shriti Pattani President up to June 2023 and Immediate Past President after Dr Rae Chang Honorary Secretary year ended Dr Sheetal Chavda Honorary Treasurer 31 December Dr Vicky Mason Chair of Council Professor Neil Greenberg Trustee from 2020 2023 Mr Shaun Davis Trustee from 2017 up to June 2023 Mr Ami Shah Trustee from June 2023 Mr Jonathan Gawthrop Trustee from 2021 Honorary Strategic Clinical Advisers – Christine Poulter and Dr David Roomes (from 2022) Status The Society of Occupational Medicine is a registered charity in England & Wales (2020) and Scotland (2010) 20 Governing document The charity constitution was revised in June 2017 and the Company Constitution was approved in June 2018 Charity and company numbers England 1184142; Scotland SC041935; Company no 11380861 Registered office 2 St Andrews Place, London, NW1 4LB Bank Investment managers Lloyds Bank plc Cazenove Capital Kings Cross Branch 1 London Wall Place 23 PO Box 1000 London EC2Y 5AU BX1 1LP

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

Auditors

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

Trustees’ report

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 .

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 moved to a 2-year Presidential term following an AGM in December 2023 .

The Society’s objects are:

A new strategy for 2024-26 was signed off by the Board in 2023 . The majority of the SOM’s funds are raised through membership subscriptions . Results for the year show net expenditure of £23,880 . Funds of the Group as of 31 December 2023 amounted to £953,498 .

SOM Immediate Past President, Dr Shriti Pattani, on BBC news discussing worklessness due to ill health

Examples of SOM blogs in 2023

Prevention is better than cure: the power of flexible working

8 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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THE SOCIETY OF OCCUPATIONAL MEDICINE | Trustees’ report

THE SOCIETY OF OCCUPATIONAL MEDICINE | Trustees’ report

Our strategic direction 2024-6

Sector representation through policy and communications Our goal: to be the voice of OH and influence the decisions, programmes and implementation of policymakers, commissioners, and health professionals relating to occupational health

Dr Will Ponsonby, SOM Past President, at the Indian Occupational Health conference in 2023

Dr Shriti Pattani represented SOM at the WHO for their global strategy meeting, with the Secretary General of the WHO, Dr Tedros

Jubilee Award is for a long-term positive

Organisational structure

Accounting policies

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 a senior appraisal and membership co-ordinator .

The SOM has adopted the

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 was no change in risk level views in 2023 .

recommendations and is committed to full compliance with the Charities SORP . Accounting policies were reviewed and approved by Trustees in June 2023 .

Investment powers and policy

The Trustees review staff pay increments at a Trustee meeting annually, reviewing cost of living indices such as the Retail Price Index . Regular review also occurs against charity benchmarks in setting their pay .

The Trustees in 2022 liquidated its investment portfolio with Investec and moved investment funds to a Cazenove, based on an Environmentally focused strategy . Liquidated funds were held as ‘cash’ as of 31st December 2022 .

Dr Nerys Williams advises on appraisals and SOM contracts with a consultant on advocacy and for its conference .

Trustees reviewed and approved the Investment policies for these funds in June 2023 . 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 .

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 .

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 commercial activities such as appraisals and job advertisements {which are subject to VAT) .

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

The investment objective of the Golden

10 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11

THE SOCIETY OF OCCUPATIONAL MEDICINE | Trustees’ report

THE SOCIETY OF OCCUPATIONAL MEDICINE | Trustees’ report

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 2023 .

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 .

Risk Statement

The Charity Commission requires Trustees to examine the major risks to which the

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 .

to any material departures disclosed and explained in the Financial Statements; and

Statement of Trustees’ responsibilities

The Trustees (who are also Directors of The The Trustees are responsible for keeping Society of Occupational Medicine for the adequate and proper accounting records purposes of company law) are responsible that are sufficient to show and explain for preparing the Trustees’ Report and the charity’s transactions and disclose the Financial Statements in accordance with reasonable accuracy at any time the with applicable law and United Kingdom financial position of the group and parent Accounting Standards (United Kingdom charity and enable them to ensure that Generally Accepted Accounting Practice) . the financial statements comply with the Charities and Trustee Investment (Scotland) A combination of Company and Charity Act 2005, regulations 6 and 8 of the law requires the Trustees to prepare Charities Accounts (Scotland) Regulations Financial Statements for each financial 2006 (as amended), and the Companies year which give a true and fair view of the Act 2006, the Charities Act 2011, and state of affairs of the group and parent regulations made thereunder . They are also charity and of the incoming resources and responsible for safeguarding the assets of application of resources, including the the group and parent charity and hence for income and expenditure of the charitable taking reasonable steps for the prevention group for that year . In preparing these and detection of fraud and other Financial Statements, the Trustees are irregularities . The Trustees are responsible required to: for the maintenance and integrity of the •[ select suitable accounting policies and ] financial information included on the then apply them consistently . charity’s website . Legislation in the United •[ observe the methods and principles of ] Kingdom governing the preparation and the Charities’ SORP; dissemination of the financial statements •[ make judgements and estimates that are ] and other information included in annual reasonable and prudent . reports may differ from legislation in other •[[state whether applicable accounting ]] 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 .

Auditor

A resolution to appoint the 2023 auditor of the charity, HW Fisher LLP, was agreed at the Annual General Meeting in June 2023 .

This report was approved and authorised by the Trustees on 19th June 2024 and signed on their behalf by Dr Sheetal Chavda and Dr Rae Wen Chang

Dr Sheetal Chavda Dr Rae Chang Honorary Treasurer Honorary Secretary

Induction

other professional groups with interest in

12 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13

THE SOCIETY OF OCCUPATIONAL MEDICINE | SOM reports

THE SOCIETY OF OCCUPATIONAL MEDICINE | Independent Auditor’s Report

SOM published a number of reports over the last year, adding to resources available on the website .

----- Start of picture text -----
SOM and UKHCA
Position Statement on the
implementation of HSE
Noise Health Surveillance
Guidance
May 2023
Managing Skin Health at Work
A Practical Guide for Those Managing Occupational
Skin Disease and Those Undertaking Skin Health Surveillance
November 2023
som.org.uk
----- End of picture text -----

----- Start of picture text -----
Knowledge and Skills Guidance for an
Occupational Physician with a Specialist
Interest in Radiation Medicine (OPSIRM)
Nuclear Industry Ionising Radiation
Occupational Health Professionals (NIIROPs)
A SOM Special Interest Group
----- End of picture text -----

New guidance was produced by SOM on Noise Induced Hearing Loss

New guidance on Skin at Work was issued in 2023

Thanks to Dr Sarah Jackson and the Radiaton Special Interest Group for producing this guidance in 2023

Three new guidance documents on HAVS were produced in 2023

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HAND ARM VIBRATION
SYNDROME (HAVS)
and WHOLE BODY
VIBRATION (WBV)
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----- Start of picture text -----
Nerve Conduction Studies
(NCS) in workers exposed to
Hand-Transmitted Vibration (HTV)
Referral Criteria and
Interpretation of Results
May 2023
----- End of picture text -----

----- Start of picture text -----
Use of photography in the
diagnosis and staging of
HAND ARM VIBRATION
SYNDROME (HAVS)
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Independent auditor’s report to the Members and Trustees of The Society of Occupational Medicine

Accounts (Scotland) Regulations 2006 (as amended) .

Our responsibilities and the responsibilities

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 2023 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) .

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

Basis for opinion

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

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 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 .

In our opinion the financial statements:

Conclusions relating to going concern

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

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

We have nothing to report in this regard .

14 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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THE SOCIETY OF OCCUPATIONAL MEDICINE | Independent Auditor’s Report

THE SOCIETY OF OCCUPATIONAL MEDICINE | Independent Auditor’s Report

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:

remuneration specified by law are not made; or

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 .

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:

company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006 .

Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body, and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed .

Andrew Rich

Owing to the inherent limitations of an (Senior Statutory Auditor) 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 For and on behalf of and performed our audit in accordance HW Fisher LLP with auditing standards . The primary Chartered Accountants responsibility for the prevention and Statutory Auditor Acre House detection of irregularities and fraud rests with the trustees of the charity . 11-15 William Road

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

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

Tuesday 25th June 2024

Use of our report

This report is made solely to the charitable

16 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

17

THE SOCIETY OF OCCUPATIONAL MEDICINE | Financial records

THE SOCIETY OF OCCUPATIONAL MEDICINE | Financial records

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) For the year ended 31 December 2023

Note
Income and endowments from:
Donations and grants
3
Charitable activities:
4
Member services
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 expenditure before net gains 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
All amounts relate to continuing operations		 Permanent
Group
Central
Designated Endowment
Funds
Funds
Funds
Fund
£
£
£
–
–
–
–
–
308,616
–
–
–
175,951
–
–
–
228,805
–
–
–
2,300
–
–
–
263,772
–
–

–
979,445
–
–
–
–
–
–
–
228,517
–
–
–
149,710
–
–
–
167,201
–
–
–
246,446
–
–
–
–
–
–
–
6,215
2,650
–
–
180,614
–
–
–
21,972
–
–
– 1,000,675
2,650
–
–
(21,230)
(2,650)
–
–
10,206
4,309
15,947
–
(11,024)
1,659
15,947
100,314
605,408
82,492
158,702
100,314
594,384
84,151
174,649

Balance Sheet as at 31 December 2023

2023 2022
Group
Charity		 Group Charity
£
£		 £ £
Fixed Assets
Intangible Assets 9 13,442
13,442		 3,716 3,716
Tangible fxed assets 10 4,000
4,000		 6,118 6,118
Investments 11 639,642
639,652		 - 10
657,084
657,094		 9,834 9,844
Current Assets
Debtors
Cash at bank and in hand		 12 144,675
343,726
129,172

319,796		 123,829
1,192,457
148,983

1,125,917
488,401
448,968		 1,316,286
1,274,900
Current Liabilities
Creditors: amounts falling due within one year 13 (191,987) (189,917) (379,204)
(375,181)
Net Current Assets 296,414
259,051		 937,082 899,719
Net Assets 16 953,498
916,145		 946,916 909,563
Represented by:
Restricted funds -
-		 - -
Unrestricted funds
Group funds 15a 100,314
100,314		 100,314 100,314
Central funds 15b 602,395
565,042		 605,408 568,055
Designated funds 15c 84,151
84,151		 82,492 82,492
Permanent endowment fund 15d 166,638
166,638		 158,702 158,702
Total Funds 953,498
916,145		 946,916 909,563
The charitable company’s net surplus for the year was £6,582 (2022: defcit of £102,935)

Dr Sheetal Chavda Honorary Treasurer

Dr Rae Chang Honorary Secretary

18 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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Consolidated Statement of Cash Flows For the year ended 31 December 2023

Note
2023
2023
2022
£
£
£
Cash fows from operating activities:
Net cash provided by/ (used in) operating activities
a
(229,474)
148,581
Cash fows from investing activities:
Dividends, interest from investments
2,300
8,870
Purchase of intangible assets
(12,377)
–
Purchase of ofce equipment
–
(1,175)
Proceeds from sale of investments
–
605,010
Purchase of investments
(609,180)
(27,809)
Net cash provided by / (used in) investing activities
(619,257)
584,896
Change in cash and cash equivalents in the year
(848,731)
733,477
Cash and cash equivalents at the beginning of the year
1,192,457
458,980
Cash and cash equivalents at the end of the year
343,726 1,192,457
a) Reconciliation of net (expenditure) / income to net cash fow from operating activities
2023
2022
£
£
Net (expenditure) / income for the year
6,582
(102,935)
(as per the statement of fnancial activities)
Adjustments for:
Depreciation and amortisation
4,769
3,330
Interest and dividends from investments
(2,300)
(8,870)
(Gains)/ losses on investments
(30,462)
60,785
Decrease/ (Increase) in debtors
(20,846)
(3,094)
(Decrease)/Increase in creditors
(187,217)
199,365
Net cash (used in) / provided by operating activities
(229,474)
148,581
b) Analysis of changes in net funds		 2022
£
148,581
8,870
–
(1,175)
605,010
(27,809)
584,896
733,477
458,980
2022
£
(102,935)
3,330
(8,870)
60,785
(3,094)
199,365
148,581

The charity and group had no debt during the year .

Notes to the Financial Statements For the year ended 31 December 2023

profit and loss of the group . The company has charity has adequate resources to continue in therefore taken advantage of exemptions from operation for the foreseeable future . Thus the the following disclosure requirements for the trustees continue to adopt the going concern parent company information presented within basis of accounting in preparing the financial the consolidated financial statements; statements . from preparing a statement of cash flows, on

1 Accounting policies

Charity Information

The Society of Occupational Medicine (SOM) is a registered charity in England, Wales and Scotland with a registered address of 2 St Andrews Place, London, NW1 4LB . SOM is a charity limited by guarantee .

the basis that it is a qualifying entity and the consolidated statement of cash flows, included in these financial statements, includes the company’s cash flows .

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 .

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 Accounts preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102, effective 1 January 2019), the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) .

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

Income from government and other

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 stated in the relevant accounting policy or note(s) to these financial statements .

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 .

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 18 . The

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 .

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 £ .

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 .

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 .

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 .

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

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

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

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Notes to the Financial Statements For the year ended 31 December 2023 (continued)

the charity . Income arising on the permanent endowment fund can be used in accordance with the charity’s objects and is unrestricted income .

will be required and the amount of the obligation can be measured reliably . Expenditure is classified under the following activity headings:

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

Other expenditure represents those items not falling into any other heading .

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 .

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 .

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

The permanent endowment fund is a restricted capital fund set up by the Margaret DobbieBateman legacy . The fund represents those assets which must be held permanently by

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 .

Notes to the Financial Statements For the year ended 31 December 2023 (continued)

2 Detailed comparatives for the consolidated statement of financial activities

Income and endowments from:
Donations and legacies
Charitable activities:
Member services
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		 Permanent
Group
Central
Designated Restricted Endowment
Funds
Funds
Funds
Fund
Fund
£
£
£
£
–
–
–
–
–
–
318,487
–
–
–
–
191,734
–
–
–
–
218,950
–
–
–
–
8,055
815
–
–
–
238,637
–
–
–
–
975,863
815
–
–
–
4,023
384
–
–
–
–
227,788
–
–
–
–
69,867
–
–
–
–
205,701
–
–
–
–
236,687
–
–
–
–
–
–
–
–
–
24,537
7,000
–
–
–
149,963
–
–
–
–
92,878
–
–
–
– 1,011,444
7,384
–
–




–
(35,581)
(6,569)
–
–
–
(37,935)
(6,137)
–
(16,713)
–
(73,516) –
(12,706)
–
(16,713)
100,314
678,924
95,198
–
175,415
100,314
605,408
82,492
–
158,702		 2022
Total
£
–
318,487
191,734
218,950
8,870
238,637
976,678
4,407
227,788
69,867
205,701
236,687
–
31,537
149,963
92,878
1,018,828
(42,150)
(60,785)
(102,935)
1,049,851
946,916

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Notes to the Financial Statements For the year ended 31 December 2023 (continued)

3 Income from donations and grants

Unrestricted Restricted
£
£
Donations
–
–
–
–
4 Income from charitable activities
Member services
Members subscriptions
The Journal
Proft share from OUP The Journal
Quality Assured Appraisal Scheme
QAAS appraisal fees
5 Analysis of expenditure
Direct
Support
costs
Costs
£
£
Costs of raising funds
–
–
Charitable activities:
Member services
130,284
98,233
Member meetings
116,966
32,744
Journal costs
110,643
56,558
Quality Assured Appraisal Scheme
207,748
38,698
Others:
Awards and prizes
8,865
–
Corporate afairs
109,172
71,442
Commercial trading costs
21,972
–
Total resources expended
705,650
297,675		 2023
2022
Total
Total
£
£
–
–
–
–
2023
2022
Total
Total
£
£
308,616
318,487
175,951
191,734
228,805
218,950
810,080
729,171
Total
Total
2023
2022
£
£
–
4,407
228,517
227,788
149,710
69,867
167,201
205,701
246,446
236,687
8,865
31,537
180,614
149,963
21,972
92,878

1,003,325
1,018,828		 2022
Total
£
–
–
2022
Total
£
318,487
191,734
218,950
729,171
Total
2022
£
4,407
227,788
69,867
205,701
236,687
31,537
149,963
92,878

5 Analysis of expenditure (continued)

Analysis of support costs
Staf & related costs
Ofce & IT costs
Cost of premises
Finance costs
Governance costs
Total support costs		 Total
2023
£
82,531
97,891
31,260
8,626
77,367

297,675		 Total
2022
£
75,648
115,070
31,260
2,187
83,646
307,811

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
Golden Jubilee award
SOM and ESSO Prizes
Other award costs		 2023
£
18,906
4,769
31,260


2023
£
2,650
250
5,965

8,865		 2022
£
16,524
3,330
31,260
2022
£
7,000
–
24,537
31,537

24 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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Notes to the Financial Statements For the year ended 31 December 2023 (continued)

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

a Staf costs were as follows:
Salaries and wages
Social security costs
Pension contributions		 2023
£
365,092
41,596
15,852

422,540		 2022
£
343,204
40,785
12,410
396,399

The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the period was one (2022: one)

Between £90,001 and £110,000 : One (2022: One)

The total employee benefits including pension and employer NI contributions of the key management personnel were £299,424 (2022: £286,661) .

b Staff numbers

c Trustee information

None of the trustees received emoluments in the current or preceding year . During the period 7 trustees (2022: 7) received reimbursed travel expenses of £7,656 (2022: £7,656) and £738 (2022: £738) 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 1 January 2023
Additions		 64,484
12,377
At 31 December 2023 76,861
Amortisation
At 1 January 2023 60,768
Charge for the year 2,651
At 31 December 2023 63,419
Net Book Value At 31 December 2023 13,442
Net Book Value At 31 December 2022 3,716
Intangible fxed assets includes SOM website and SOM ‘App’ development costs
10 Tangible fxed assets (Group and charity)
Ofce
equipment
Cost
At 1 January 2023		 £
42,162
At 31 December 2023 42,162
Depreciation
At 1 January 2023 36,044
Charge for the year 2,118
At 31 December 2023 38,162
Net Book Value
At 31 December 2023 4,000
At 31 December 2022 6,118

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Notes to the Financial Statements For the year ended 31 December 2023 (continued)

11 Investments (Group and charity)
2023
Listed investments
£
Market value at 1 January 2023
–
Acquisitions at cost
609,180
Sale proceeds of disposals
–

Realised gains/ (losses) on disposals
–
Unrealised gains/ (losses) on revaluation
30,462

Market value at 31 December 2023
639,642


Historical cost of investments held at 31 December 2023
609,180


All investments are listed on recognised stock exchanges and are valued at 31 December 2023 as follows:
Market
value
2023
£
SUTL Cazenove Multi-Asset SOM Reserves fund
396,034
SUTL Cazenove Multi-Asset Dobbie Bateman fund
174,649
SUTL Cazenove Multi-Asset Golden Jubillee fund
68,959

639,642


Financial instruments measured at fair value through proft & loss
639,642


Investments (Charity)
2023
£
Investment in subsidiary (see note 18)
10

10		 2022
£
637,986
27,809
(605,010)
(60,785)
–
–
–
Market
value
2022
£
–
–
–
–
–
2022
£
10
10
12 Debtors
2023
2023
Group
Charity
£
£
Trade debtors
45,197
21,646
Prepayments & accrued income
99,478
92,383
Due from SOM Enterprises Ltd
–
15,143
144,675
129,172
13 Creditors
2023
2023
Group
Charity
£
£
Amounts falling due within one year:
Trade creditors
44,318
44,318
Accruals
38,609
33,477
Social security costs and other taxes
16,212
19,274
Other creditors
7,159
7,159
Deferred Income
85,689
85,689

191,987
189,917		 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

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 £15,852 (2022: £12,410) .

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Notes to the Financial Statements For the year ended 31 December 2023 (continued)

15 Movement in funds
(a) Group unrestricted funds –current year Group & Charity
£
At 1 January 2023 100,314
Income –
Expenditure –
At 31 December 2023 100,314
Group unrestricted funds –prior year

As at 1 January 2022		 Group & Charity
£
100,314
Income
Expenditure
At 31 December 2022		 –
–
100,314
(b) Central unrestricted funds –current year
 Group Charity
£ £
At 1 January 2023 605,408 568,055
Income 979,445 957,473
Expenditure
Gains/ (losses) on investments		 (1,000,675)
10,206		 (978,703)
10,206
At 31 December 2023 594,384 557,031
Central unrestricted funds –prior year
 Group Charity
£ £
As at 1 January 2022 678,924 641,571
Income 975,863 882,985
Expenditure (1,011,444) (918,566)
Gains/ (losses) on investments
At 31 December 2022		 (37,935)
605,408		 (37,935)
568,055
(c) Designated Funds – current year Golden Jubilee fund Golden Jubilee fund
(Group and Charity)
£
At 1 January 2023 82,492
Investment income –
Investment management costs –
Golden Jubilee Award (2,650)
Gains/ (losses) on investments 4,309
At 31 December 2023 84,151
Designated Funds –prior year Golden Jubilee fund
(Group and 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 31 December 2022 82,492

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 and Charity Group and Charity
£
At 1 January 2023 158,702
Gains/ (losses) on investments 15,947
At 31 December 2023 174,649
Permanent Endowment Fund (prior year) Group and Charity
£
At 1 January 2022 175,415
Gains/ (losses) on investments (16,713)
At 31 December 2022 158,702

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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Notes to the Financial Statements For the year ended 31 December 2023 (continued)

16 Analysis of net assets between funds

(a) Group - current year
Permanent
Unrestricted Designated Endowment
Funds
Funds Fund
£
£
£
Intangible fxed assets
13,442
–
–
Tangible fxed assets
4,000
–
–
Investments
396,034
68,959
174,649
Net current assets
281,222
15,192
–
Total net assets
694,698
84,151
174,649
Group - prior 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
2023
£
13,442
4,000
639,642
296,414
953,498
Total
2022
£
3,716
6,118
–
937,082
946,916

(16 continued)

(b) Charity-current year
Permanent
Unrestricted Designated Endowment
Funds
Funds Fund
£
£
£
Intangible fxed assets
13,442
–
–
Tangible fxed assets
4,000
–
–
Investments
396,044
68,959
174,649
Net current assets
243,859
15,192
–
Total net assets
657,345
84,151
174,649
Charity - prior 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
2023
£
13,442
4,000
639,652
259,051
916,145
Total
2022
£
3,716
6,118
10
899,719
909,563
17 Operating lease and other future commitments
Future minimum lease commitments under non-cancellable operating leases for ofce equipment are as follows:
2023 2022
Operating leases that expire: £ £
Less than one year 22,950 30,060
1-2 years - 22,545

32 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

33

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Notes to the Financial Statements

For the year ended 31 December 2023 (continued)

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 .

Year ended Year ended
31 December31 December
2023 2022
Proft and Loss £
£
Turnover 135,395
206,367
Cost of sales (20,460) (88,806)
Administration expenses (88,124) (87,435)
Proft before Gift aid 26,811
30,126
Gift Aid to SOM charity (26,811) (30,126)
Proft/ (loss) for the period – –
Balance sheet £
£
Debtors 33,708
40,728
Cash at bank 23,930
66,540
Creditors (16,391) (69,905)
Net assets 41,247
37,363
Called up Share Capital 10
10
Proft and loss reserves 41,237
37,353
Total equity 41,247
37,363

19 Related party transactions

There were no other disclosable related party transactions during the year (2022: none)

Thanks to all our Corporate Supporters

34 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

35

THE SOCIETY OF OCCUPATIONAL MEDICINE | Structure

THE SOCIETY OF OCCUPATIONAL MEDICINE

BOARD OF TRUSTEES
President: Dr Lanre Ogunyemi
Honorary Secretary: Dr Rae Chang		 BOARD OF TRUSTEES
President: Dr Lanre Ogunyemi
Honorary Secretary: Dr Rae Chang		 BOARD OF TRUSTEES
President: Dr Lanre Ogunyemi
Honorary Secretary: Dr Rae Chang		 BOARD OF TRUSTEES
President: Dr Lanre Ogunyemi
Honorary Secretary: Dr Rae Chang		 BOARD OF TRUSTEES
President: Dr Lanre Ogunyemi
Honorary Secretary: Dr Rae Chang		 BOARD OF TRUSTEES
President: Dr Lanre Ogunyemi
Honorary Secretary: Dr Rae Chang		 BOARD OF TRUSTEES
President: Dr Lanre Ogunyemi
Honorary Secretary: Dr Rae Chang
Remuneration
Sub-Committee		 Editorial Committee
Editor in Chief
Professor Steven Nimmo		 Diversity and
Inclusion Task Force
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
SUB GROUPS
STAFF
Consultant – Policy
Claire Mathys
Networks
MSK at Work; Sleep SOM hosts the
Independent Academic Forum –
Chair: Professor Ewan Macdonald
Consultant –Clinical
Appraisal Lead
Dr Nerys Williams
CEO
Nick Pahl
Communications and
Events Manager
Ann Caluori
Membership
Development Group
Chair: Dr Vicky Mason
Golden Jubilee
Award Panel
2 Trustees
Programme group
(Conference)
Chair:
SOM/FOM rotating
Appraisal
management
group
Chair: Nick Pahl
Special Interest Groups
Construction, HAVS etc
Education Panel
Chair: Professor Kaveh Asanati
(also Chair of Awards)
Membership and
Appraisals Co-ordinator
Barbara Ciannavei
Operations and
Membership Manager
Nick Llewellin
Financial
Controller
Sujal Naik
Assistant Editor
Angela Burnett
Volunteer for Journal
Jane Bartram
Administrator
Mimi Eyeoyibo

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 . 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 .

Professional Partner Membership – Work in HR, Wellbeing, Employee assistance or responsible for workplace health? SOM is delighted to launch Professional Partner Membership, to keep you up to date with the latest workplace health resources and guidance – from mental health to neurodiversity and Long COVID . For only £50 per year, membership offers knowledge, tools, and connections to help you do the best job you can in improving health and work . It is not open to occupational health or other health professionals who are welcome to Join as Full, International, Student or Associate members . Benefits:

The introduction of this new membership category demonstrates SOM’s commitment to supporting as many organisations and people as possible in its aim to improve workplace health for all .

Join us – at www.som.org.uk Queries? Email membership@som.org.uk

36 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

37

THE SOCIETY OF OCCUPATIONAL MEDICINE | text here

The Society of Occupational Medicine 2 St Andrew's Place

NW1 4LB www .som .org .uk @SOMNews 20 Telephone: 020 3910 4531 E–mail: admin@som .org .uk Charity Commission no: 268555 Scottish Charity no: SC041935 VAT no . 927 0030 57

38 TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023