OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

The Society of Occupational Medicine 2 St Andrews Place, London NW1 4LB Charity nos. 1184142 (England) / SC041935 (Scotland) Company no. 11380861 (England and Wales) VAT No: 927 0030 57

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

OCCUPATIONAL HEALTH Experts in work and health

Above (L-R): Dr Vicky Mason, outgoing SOM Council Chair

Dr Lanre Ogunyemi, immediate Past President

Professor Neil Greenberg, President

Dr Rae Chang, outgoing Honorary Secretary

Professor Drushca Lalloo, President Elect

Dr Sheetal Chavda, outgoing Honorary Treasurer

Left: Dame Carol Black speaking at SOM’s 90th Anniversary Dinner

The Trustees present their report and financial statements for the year ended 31 December 2025.

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 the Republic of Ireland (FRS102) (effective from 1 January 2019).

The Trustees’ report also contains the directors’ report as required by company law requirement of SORP15.6.

2

3

Report from SOM President Professor Neil Greenberg

I am delighted to say that SOM membership has now passed 2,250. Our growing community provides SOM with a louder voice to bring about positive changes for our members, employers, workers and indeed the nation. One great role I have as President is to interact and meet with you all at regional groups around the UK; it is fabulous to learn about what you are doing and to hear your feedback on SOM and what we do.

SOM continues to engage with the Charlie Mayfield team, with a launch workshop and meetings throughout the year related to the Keep Britain Working review. We hope this review is an opportunity to promote the great work done by occupational health professionals and ensure its expertise becomes a cornerstone of good business practice.

In 2025, SOM made submissions to the Work and Pensions Committee, the NHS Long Term workforce plan, and a medicinal cannabis Home Office consultation. SOM is also part of an engineered stone rapid review group with the HSE, which is important with the

Recognised Education

increasing numbers of (particularly younger) workers who have developed silicosis.

In 2025, SOM launched Recognised

Education , for courses making a difference to occupational health practice, with inspiring training courses being recognised.

We were also pleased to receive funding for a new project in 2026 from Lloyds Register Foundation to conduct a systematic review of the psychosocial risk (mental health) of first responders. This has enabled us to set up a Work, Safety, and Health Intelligence Centre within SOM, which will help us make better use of the high-quality evidence in the future.

Thanks to Dr Dipti Patel OBE, who took over from Dr Steve Nimmo as Interim Editor of the Journal, Occupational Medicine. Goodquality submissions are always welcome to the Journal.

During my time as your President, I will continue to beat the ‘make sure you have access to occupational health expertise’ drum, hoping companies of all sizes get in time with the rhythm. SOM has also started working with a new PR company, Atalanta, to promote relevant content, such as from the Journal. This is particularly important

SOM Recognised Education encourages quality improvement for specific courses that have strategic benefit for Occupational Health. Recognition does not replace formal accreditation or validation of education, or CPD recognition processes of organisations.

given the Mayfield review and the current government’s interest in work and health expertise, which, we all know, requires occupational health professionals to be at the helm of.

It is also good to see SOM being part of a new European association of OH researchers’ network. Working alongside our European colleagues remains highly beneficial.

Next year, we will be launching a quality mark for wellbeing products and services with the Royal College of Psychiatrists and a supervision scheme for diplomates and portfolio candidates. There is lots going on, but lots to do. I look forward to meeting with you soon.

Report from Honorary Treasurer Chris Rhodes

This is my first year as Treasurer. I am pleased to have presented to the Board recently on our financial trends and am now up to speed!

Both income and expenditure were over budget – however, it is good to see member subscription income was above target and continues to grow.

Costs were over budget mainly due to PR and Royal College of Psychiatrists costs for the Wellbeing Quality Mark. There was also an increase in irrecoverable VAT, and IT costs, in 2025. Job advertising income was below budget. However, income from Corporate Supporters was above budget. Journal income was on budget, with other income from webinars, events, release of scholarship funds and international projects.

SOM maintains a good cash flow position for the year into 2026, and the Trustees agreed to transfer £125k into a higher interest account at Lloyds as a result.

I am very grateful to our financial controller, Sujal Naik, for his hard work in preparing the year’s accounts, and to the auditors for their thorough and supportive auditing.

Left: Workplace visit to a tin mine in Cornwall, December 2025.

4

5

Report from Chief Executive Officer Nick Pahl

2025 was SOM’s 90th anniversary. To celebrate, we hosted an anniversary dinner at the Apothecaries’ Hall. A booklet of our history, edited by Dr John Hobson, was produced too – contact SOM for a free copy.

SOM continued its Leadership Academy development, launching leadership competences and being part of a consortium developing well-being practitioner competencies. Thanks to Dr Lanre Ogunyemi for chairing the Leadership Academy.

SOM hosted a women’s health at work parliamentary event with CIPD and welcomed the Faculty of Occupational Health Nursing – see next page.

We were pleased that Work, Art and Health was launched. Thanks to Dr Paul Nicholson OBE for writing such an amazing book.

Our externally funded international work continues, with a health of healthcare workers project completing in Nigeria and Ethiopia and starting in Zimbabwe, and a NEBOSH social purpose artisanal and smallscale mining project in Brazil, Colombia, Zimbabwe and Uganda.

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

Following the SOM Board meeting in March 2025 and a Faculty of Occupational Health Nursing (FOHN) Board meeting, a strategic partnership was agreed.

----- Start of picture text -----
1935
2025
----- End of picture text -----

through accreditation, and being part of events such as with the RCN.

SOM will host the FOHN website and develop a SOM/FOHN OH Nursing Group, reporting to the SOM Council. A memorandum of understanding was agreed at the SOM AGM. 2025 activities included presenting on the Newcastle MBA as part of the SOM Leadership Academy, presenting at FOHNEU, progressing UK associate membership of FOHNEU, FOHN national engagement with Keep Britain Working, and attending parliamentary events.

This followed an away day, where the SOM Board, with FOHN, assessed how this would work best, and key principles. Benefits were seen for OH generally in SOM hosting FOHN activities, with FOHN maintaining its brand. FOHN members (many of whom are SOM members) will be encouraged to join SOM. FOHN will continue its functions such as linking with the NMC, supporting nurses

LEADERSHIP ACADEMY

----- Start of picture text -----
Developing the next generation
of occupational health leaders
----- End of picture text -----

Below: Thanks to Christina Butterworth as outgoing FOHN Chair, with Amanda Hinkley, new FOHN Chair.

6

7

Below:

Below:

SOM Honorary Membership was awarded to Shelly Asquith from the TUC for her role leading on health and safety for trade unions.

Dr Lanre Ogunyemi receiving the Faculty of Public Health President’s Medal from Professor Kevin Fenton.

Winners

Outstanding Occupational Health Initiative

Royal Brompton Specialist Occupational Lung Referral Service – winner

Acknowledgement of merit and thanks to March on Stress and the Northumberland Healthcare NHS Trust

Outstanding Occupational Health Practitioner

Dr Akpınar – winner

Dr Shairana Naleem – runner up

Outstanding Contribution by an Employer to Workplace Health and Wellbeing Cadent Gas – winner

Acknowledgement of merit to NHS England

Outstanding Occupational Health Team

TAC Healthcare – winner

Acknowledgment of merit and thanks to NHS Darlington

Outstanding Contribution to Diversity and Inclusion

EDF Energy – winner

Outstanding Contribution to the Development of OH Globally

Dr Nayab Sultan – winner

Special mentions to Professor Janvier Gasana and Associate Professor Marianne Cloeren

Outstanding Contribution to Occupational Health Research

Delphi Study Team and Dr Jack Meintjes – joint winners

SOM Lifetime Achievement Award

Professor Diana Kloss – winner

Special mentions to Dr Tony Williams, Dr Chris Pugh and Christina Butterworth

Golden Jubilee Award

Emma Wallis and Catherine Roberts

Regional Group of the Year

Northern Ireland; West Midlands

8

9

Legal and administrative details

Thanks to the following Trustees who served during the year and up to the date of approval of the financial statements.

Professor Neil Greenberg President from June 2025

Dr Lanre Ogunyemi Immediate Past President

Professor Drushca Lalloo President Elect

Chris Rhodes Honorary Treasurer

Dr Charlie Vivian Chair of Council

Ami Shah

Trustee from June 2023

Mr Jonathan Gawthrop Trustee from 2021

Dr Lucy Wright Trustee from June 2024

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).

Governing document

The charity constitution was revised in June 2017 and the company constitution was approved in June 2018.

Charity and company number

Charity nos. 1184142 (England) and SC041935 (Scotland) Company no. 11380861 (England and Wales)

Registered office

2 St Andrews Place London NW1 4LB

Bank

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

Auditors

Goldwins Limited 75 Maygrove Road London NW6 2EG

Investment managers Cazenove Capital 1 London Wall Place London EC2Y 5AU

Solicitors

Hempsons Solicitors Hempsons House 40 Villiers Street London WC2N 6NJ

Objectives 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 two-year presidential term following an AGM in December 2023.

The Society’s objectives are:

A new strategy for 2024–26 was signed off by the Board in 2023. The majority of SOM’s funds are raised through membership subscriptions and Journal income.

Below:

Occupational Health Awareness Week in 2025 was another success.

----- Start of picture text -----
Occupational health helps
you to keep your employees
mentally and physically healthy.
Find out what’s possible at www.som.org.uk/ohaw/
----- End of picture text -----

Occupational Health Awareness Week Monday 22nd - Sunday 28th September 2025 #OHAW2025 #OccupationalHealthAwareness

10

11

Our strategic direction 2024–26

Organisational structure

Investment powers and policy

Reserves policy

Strategic Aim 1 – Member support

Our goal: Continuing professional development, developing knowledge and improving practice through education.

Strategic Aim 2 – Workforce development

Our goal: To support recruitment, retention and developments that increase the OH workforce and support staff to have the appropriate skills to deliver good OH. Intended outcome: By 2026, we will have worked with others to increase the size and skill base of the workforce delivering OH.

Strategic Aim 3 – 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. Intended outcome: By 2026, we will have increased our profile and voice, and will be successfully influencing the development, design and implementation of national and regional programmes and policy for OH.

Strategic Aim 4 – Research and evidence Our goal: To promote research into workplace health and applying evidencebased knowledge to clinical practice. Intended outcome: By 2026, we will have strengthened research opportunities, skills and impact through the OH research community and through the reputation and reach of our Journal.

SOM employs nine staff: a CEO, a financial controller, a head of operations and membership, an assistant editor, a head of communications and events, a communications and events coordinator, a research manager, an international coordinator and an appraisal and corporate supporter manager.

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

Related parties and connected organisations

SOM is not involved as a legal entity with any other parties except by membership and through contracts for services. SOM is an independent organisation. It has a subsidiary company – SOM Enterprises – which supports commercial activities such as appraisals and job advertisements (which are subject to VAT).

Accounting policies

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 2025.

The Trustees in 2022 liquidated the charity’s investment portfolio with Investec and moved investment funds to Cazenove, based on an environmentally focused strategy. Trustees reviewed and approved the investment policies for these funds in June 2024. The Charity has appointed Cazenove to provide a discretionary portfolio management service. The investment objective is for a long-term positive return and a balance between income and capital growth, generated with a low to moderate level of risk and the interest generated by the income.

The investment objective of the Golden Jubilee Fund is for a long-term positive return and 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 to maximise capital growth with a low to 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 2025.

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.

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 its portfolio ensure an appropriate, ethical and productive reserves policy is maintained.

Funds can then be available to support the charity’s aims and objectives, for example to facilitate improved administrative processes, modernise 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 months’ core expenditure is in place.

Free reserves in the Central Fund at the year end amounted to £623k considering the net book value of fixed assets. This exceeds six months’ core expenditure and is satisfactory. The reserves policy was reviewed by the Board in June 2025.

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 2025.

12

13

SOM structure

Board of Trustees President – Professor Neil Greenberg Remuneration Honorary Secretary – David Fox Sub-committee Treasurer – Chris Rhodes

SOM Council

Chair – Dr Charlie Vivian

Sub-groups

Editorial Committee Interim Editor – Dr Dipti Patel OBE

Membership Development Group Chair – Dr Tony Mawson

Diversity and Inclusion Women’s Health at Work Network

Special Interest Groups Construction, HAVs etc.

Networks MSK at Work Sleep Network FOHN accreditation

Education Panel Dr Shairana Naleem

Staff

Chief Executive

Nick Pahl Head of Membership Financial Head of Communications and Operations Controller and Events Nick Llewellin Sujal Naik Ann Caluori Appraisal and Corporate Communications and Events Coordinator Supporter Manager Barbara Ciannavei Mimi Eyeoyibo (until April 2026) International Assistant Coordinator Journal Editor Rose Wood Angela Burnett

Programme Group (Conference) Chair – SOM / FOM rotating

Appraisal Management Group Chair – Nick Pahl

Award Panel Golden Jubilee Dr A P Wright

Consultant: Clinical Appraisal Lead Dr Nerys Williams

----- Start of picture text -----
Consultant: Corporate
----- End of picture text -----

----- Start of picture text -----
Anna Jones
----- End of picture text -----

Strategic Clinical Advisers

Christine Poulter Dr David Roomes Dr Lara Shemtob

Consultant: Conference Rebecca Lawrence-Bristol

Consultant: Policy Drew Lindon

14

15

every Trustee Board meeting. Reviews this year led to changes to reflect the external environment and best practice in the charities sector. A sub-group of the Trustees was established for 2024 to review risks and put in place mitigation plans.

Risk statement

The Charity Commission requires Trustees to examine the major risks to which SOM is exposed and to establish systems to mitigate these risks. Key risks include competition from other membership organisations, the age range of members, spreading the range of income sources, and ensuring the correct level of risk for investments. The Chief Executive regularly reviews the register of risks, and the register is reviewed in detail at

Public benefit statement

SOM’s activities focus on practical support for health professionals practising occupational medicine, the specialty of workplace health

Above: Miners in Zimbabwe queuing to be interviewed as part of the NEBOSH-funded IOMSC–SOM informal mining project.

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 promoting and maintaining health at work. It also collaborates with 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’ section. Under the terms of 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, following the AGM in 2023, is two years each. The Honorary Secretary and Honorary Treasurer are elected by the membership for one year and shall be eligible, respectively, for reelection 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 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, new Trustees are given an induction pack containing a Trustee role description, the governing document, annual reports and financial statements, and minutes of previous Trustee meetings. New Trustees are 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).

A combination of company and charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the group and the parent charity and of the incoming resources and application of resources, including the income and expenditure of the charitable group for that year.

16

17

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate and proper accounting records that are sufficient to explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the group and the parent charity and enable them to ensure 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), the Companies Act 2006, the Charities Act 2011, and regulations made thereunder. They are also responsible for safeguarding the assets of the group and the 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.

Independent Auditor’s Report

Opinion

We have audited the financial statements of the Society of Occupational Medicine (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 December 2025, which comprise the Consolidated Statement of Financial Activities, the

Consolidated and Parent Charity Balance Sheets, the Consolidated Statements of Cash Flow and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Provision of information to auditors

So far as 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

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.

The financial statements:

Auditor

A resolution to appoint the 2025 auditor of the charity, Goldwins Limited, was agreed at the Annual General Meeting in June 2024.

This report was approved and authorised by the Trustees on 16 June 2026 and signed on their behalf by Chris Rhodes and Dr David Fox.

Have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and Type text here 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Honorary Treasurer Chris Rhodes

Honorary Secretary Dr David Fox

Basis for opinion

We have been appointed auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, section 151 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

We conducted our audit in accordance with UK International Standards on Auditing (ISAs) 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 and the parent charitable company in accordance with the ethical requirements 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 the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or the parent

18

19

charitable company’s ability to continue as a going concern for at least 12 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. The Trustees are responsible for the other information in 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.

Our responsibility is to read the other information and consider whether it is materially inconsistent with the financial statements or our knowledge obtained in 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

Based on the work undertaken in the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and of the parent charitable company and their environment obtained in the audit, we have not identified material misstatements in the directors’ report or the strategic report included in the Trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006, the Charities Act 2011 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Auditor’s responsibilities for the audit of the financial statements

charitable company, or returns adequate for our audit have not been received from branches not visited by us

The Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the financial statements and for being satisfied that they give a true and fair view and for such internal control as the

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on determining material amounts and disclosures in the financial statements, to perform audit procedures for identifying noncompliance with laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations.

Trustees determine necessary to enable the financial statements to be 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 the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due

20

21

to fraud through designing and implementing appropriate responses, and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we:

transactions that are unusual or outside the normal course of business.

As a result of these procedures, we consider the most significant laws and regulations to have a direct impact on the financial statements to be FRS 102, Charities SORP (FRS 102), the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the parent charitable company’s governing document and tax legislation. We performed audit procedures to detect non-compliance which could have a material impact on the financial statements – reviewing the financial statements, including the Trustees’ report – and remaining alert to new or unusual transactions which may not be in accordance with the governing documents.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, because fraud involves intentional concealment, forgery, collusion, omission or misrepresentation of transactions outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at htp://www.frc.org.uk/auditorsresponsibilites This description forms part of our auditor’s report.

Use of our report

This report is made exclusively to the 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 section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities Act 2011. Our audit work has been undertaken so that we might state to the members and the charitable company’s Trustees those matters we are required to state 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, its members as a body, and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Epton Senior Statutory Auditor

For and on behalf of Goldwins Limited Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

Date: 29 June 2026

22

23

Thanks to the following companies for supporting SOM in 2025:

Abbott Healthcare

Adesso OH

Affinity - Health at work

Agile Occupational Health Ltd

All Health Matters

Amy McKeown

Apollo pro

Asclepius OHS Limited

Assessus

BP

Business for Health

Concept Occupational Health Connexus Health & Rehabilitation Cordell Health Cornerstone OH

Corporate Occupatonal Health Legal and General Sharp Apps
D4Health Lexxic Ltd Sigma Health
Domestc Abuse Educaton Ltd March on Stress Smart Clinic
Ethos Health MDDUS Solutons Spire Occupatonal Health
Everwell OH Medics Events - OccA45 Health Staf Care Services
Fusion OH Medigold Health Stemax - Healthcare Services Ltd
Genesis OHS Mikkom Sugarman Health & Wellbeing
Global Hearing Solutons (FastAG) Occupatonal Health Assessment Ltd Symbios Health
Global OHS Occupatonal Health Consultancy TAC
Hawkes Health OH Works Techno CTA
HCA Healthcare UK OH3 Ltd Tees Medical
Health Partners OHI Health Essentals Ltd The Mental Health Tick
Health Wizard OH-One (Health2Employment) TrackActve - Actve Health
Hive Occupatonal Health & Wellness Ltd Optma Health - Working on Wellbeing UKIM
Holly Health Orchid Live (Chi Ltd) Unum Ltd
Insight Workplace Health Pam Group Valentne OH
K2 OH Pegasus Visualise Training and Consultancy Ltd
Kays Medical Phoenix Mental Health Services Vital Medicals
Kinseed Qualitait Wellbeing With Cari
KOH Consultng Root of IT Workforce Wellbeing Ltd
Latus Group (ex Elas) Roxton OH (ROHL) Working 2 Wellbeing

24

25

Media activity 2025

Join us!

In response to the publication of Sir Charlie Mayfield’s Keep Britain Working report, SOM had an op-ed in Labour List, along with the distribution of a press release and broadcast note that generated 197 media hits, including coverage in The Independent and Daily Mail, and 3 broadcast engagements on ITV and LBC. A press release on the lack of workplace support for fertility and wider reproductive health was covered in Benefits Expert, Personnel Today, Health & Safety Matters, and Healthcare Market News. Off the back of this, SOM’s PR company, Atalanta, placed an op-ed in HR Magazine. Following the Government’s announcement of the Employment Rights Bill receiving Royal Assent, SOM’s statement was reported in Personnel Today and Benefits Expert.

SOM Membership is for anyone working in and with an interest in OH. Members are part of a multidisciplinary community – doctors, technicians, nurses, health specialists and other professionals – with access to the information, expertise and learning for keeping at the forefront of their role.

Members benefit from career development opportunities alongside practical, day-to-day support and guidance, and 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 Queries? Email membership@som.org.uk

Read the Latest Issue

Below:

Above: With the support of NEBOSH, Professor Moyo (MFOM) and SOM are supporting a health of

healthcare worker project at Gweru Hospital. Pictured here is the matron of the hospital with Professor Moyo and Nick Pahl.

A SOM podcast recording between Dr Richard Heron and Dr Ivan Ivanov of WHO.

26

27

Consolidated Statement of Financial Activities (incorporating an income and expenditure account) for the year ended 31 December 2025

Consolidated Statement of Financial Actv
(incorporatng an income and expenditure		 Consolidated Statement of Financial Actv
(incorporatng an income and expenditure		 ites
account)
for the year ended 31 December 2025
Note Group Funds £ Central Funds £ Designated Funds £ Restricted Funds £ Permanent Endowment Fund £ 2025 total £ 2024 total £
Income and endowments from:
Donatons and grants 3 - 157,535 - - - 157,535 80,700
Charitable actvites: 4
Member services - 387,027 - - - 387,027 341,323
Member meetngs - - - - - - 2,250
The Journal - 247,745 - - - 247,745 211,664
Quality Assured Appraisal Scheme - 287,085 - - - 287,085 270,397
Investment income - - - - - - 4,332
Other trading actvites - 359,606 - - - 359,606 344,009
Total income - 1,438,998 - - - 1,438,998 1,254,675
Expenditure on:
Raising funds 5 - - - - - - -
Charitable actvites: 5
Member services - 301,259 - - - 301,259 256,015
Member meetngs - 220,621 - - - 220,621 189,271
Journal costs - 201,776 - - - 201,776 190,698
Quality Assured Appraisal Scheme - 306,573 - - - 306,573 295,850
Grant related expenditure - 143,245 - - - 143,245 -
Other:
Awards and prizes 7 7,283 546 9,860 - - 17,689 26,560
Corporate afairs 5 - 290,073 - - - 290,073 211,929
Commercial trading costs 5 - 23,497 - - - 23,497 24,064
Total expenditure 7,283 1,487,590 9,860 - - 1,504,733 1,194,387
Net income before net gains on
investments		 (7,283) (48,592) (9,860) - - (65,735) 60,288
Realised and unrealised gains/(losses) 11 - 41,856 5,310 7,864 17,930 72,960 70,745
Net income (expenditure) for the year 8 (7,283) (6,736) (4,550) 7,864 17,930 7,225 131,033
Transfers between funds - - (5,934) 5,934 - - -
Net movement in funds (7,283) (6,736) (10,484) 13,798 17,930 7,225 131,033
Reconciliaton of funds:
Total funds brought forward 84,803 638,535 88,848 80,000 192,345 1,084,531 953,498
Total funds carried forward 77,520 631,799 78,364 93,798 210,275 1,091,756 1,084,531
All amounts relate to contnuing operatons.

28

29

Balance Sheet as at 31 December 2025

Note
Fixed Assets
Intangible assets
9
Tangible fxed assets
10
Investments
11
Current Assets
Debtors
12
Cash at bank and in hand
Current Liabilites
Creditors: amounts falling due
within one year
13
Net Current Assets
Net Assets
16
Represented by:
Restricted funds
15e
Unrestricted funds
Group funds
15a
Central funds
15b
Designated funds
15c
Permanent endowed fund
15d
Total funds		 2025
2024
Group £
Charity £
Group £
Charity £
14,744
14,744
10,966
10,966
6,170
6,170
8,738
8,738
797,770
797,780
790,387
790,397
818,684
818,694
810,091
810,101
193,328
167,696
161,262
139,463
304,506
294,769
342,384
316,762
497,834
462,465
503,646
456,225
(224,762)
(226,756)
(229,206)
(219,148)
273,072
235,709
274,440
237,077
1,091,756
1,054,403
1,084,531
1,047,178
93,798
93,798
80,000
80,000
77,520
77,520
84,803
84,803
631,799
594,446
638,535
601,182
78,364
78,364
88,848
88,848
210,275
210,275
192,345
192,345
1,091,756
1,054,403
1,084,531
1,047,178

The charitable company’s net surplus for the year was £7,225 (2024: surplus of £131,033).

The financial statements were approved and authorised for issue by the Board of Trustees and signed on its behalf on: 16 June 2026

Chris Rhodes Honorary Treasurer

Dr David Fox Honorary Secretary

Consolidated Statement of Cash Flows For the year ended 31 December 2025

Note
2025 £
2025 £
Cash fows from operatng actvites:
Net cash provided by / (used in) operatng actvites
a
(96,007)
Cash fows from investng actvites:
Dividends, interest from investments
-
Purchase of intangible assets
(7,448)
Purchase of ofce equipment
-
Proceeds from sale of investments
65,577
Purchase of investments
-
Net cash provided by / (used in) investng actvites
58,129
Change in cash and cash equivalents in the year
(37,878)
Cash and cash equivalents at the beginning of the
year
342,384
Cash and cash equivalents at the end of the year
304,506
a) Reconciliaton of net (expenditure) / income to net cash fow from operatng actvites
2025 £
Net (expenditure) / income for the year
(as per the statement of fnancial actvites)
7,225
Adjustments for:
Depreciaton and amortsaton
6,238
Interest and dividends from investments
-
(Gains)/ losses on investments
(72,960)
Decrease/ (Increase) in debtors
(32,066)
Increase/ (Decrease) in creditors
(4,444)
Net cash used in operatng actvites
(96,007)
b) Analysis of changes in net funds
At 1 Jan 2025
£
Cash fows
£
Cash at bank and in hand
342,384
(37,878)
Total cash and cash equivalents
342,384
(37,878)		 Note
2025 £
2025 £
Cash fows from operatng actvites:
Net cash provided by / (used in) operatng actvites
a
(96,007)
Cash fows from investng actvites:
Dividends, interest from investments
-
Purchase of intangible assets
(7,448)
Purchase of ofce equipment
-
Proceeds from sale of investments
65,577
Purchase of investments
-
Net cash provided by / (used in) investng actvites
58,129
Change in cash and cash equivalents in the year
(37,878)
Cash and cash equivalents at the beginning of the
year
342,384
Cash and cash equivalents at the end of the year
304,506
a) Reconciliaton of net (expenditure) / income to net cash fow from operatng actvites
2025 £
Net (expenditure) / income for the year
(as per the statement of fnancial actvites)
7,225
Adjustments for:
Depreciaton and amortsaton
6,238
Interest and dividends from investments
-
(Gains)/ losses on investments
(72,960)
Decrease/ (Increase) in debtors
(32,066)
Increase/ (Decrease) in creditors
(4,444)
Net cash used in operatng actvites
(96,007)
b) Analysis of changes in net funds
At 1 Jan 2025
£
Cash fows
£
Cash at bank and in hand
342,384
(37,878)
Total cash and cash equivalents
342,384
(37,878)		 Note
2025 £
2025 £
Cash fows from operatng actvites:
Net cash provided by / (used in) operatng actvites
a
(96,007)
Cash fows from investng actvites:
Dividends, interest from investments
-
Purchase of intangible assets
(7,448)
Purchase of ofce equipment
-
Proceeds from sale of investments
65,577
Purchase of investments
-
Net cash provided by / (used in) investng actvites
58,129
Change in cash and cash equivalents in the year
(37,878)
Cash and cash equivalents at the beginning of the
year
342,384
Cash and cash equivalents at the end of the year
304,506
a) Reconciliaton of net (expenditure) / income to net cash fow from operatng actvites
2025 £
Net (expenditure) / income for the year
(as per the statement of fnancial actvites)
7,225
Adjustments for:
Depreciaton and amortsaton
6,238
Interest and dividends from investments
-
(Gains)/ losses on investments
(72,960)
Decrease/ (Increase) in debtors
(32,066)
Increase/ (Decrease) in creditors
(4,444)
Net cash used in operatng actvites
(96,007)
b) Analysis of changes in net funds
At 1 Jan 2025
£
Cash fows
£
Cash at bank and in hand
342,384
(37,878)
Total cash and cash equivalents
342,384
(37,878)		 2024 £
81,076
4,332
-
(6,750)
-
(80,000)
(82,418)
(1,342)
343,726
342,384
2024 £
131,033
4,488
(4,332)
(70,745)
(16,587)
37,219
81,076
At 31 Dec 2025
£
304,506
342,384 (37,878) 304,506

30

31

Notes to the Financial Statements

1. Accounting policies

Charity Information

The Society of Occupational Medicine (SOM) is a charitable company limited by guarantee 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)” and the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

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 s.408 of the Companies Act 2006, the parent charitable company has not presented its own income and expenditure account and related notes.

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

The charity 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 recognised at historical cost or transaction value, unless otherwise stated in the relevant accounting policy or note(s) to these financial statements.

Group financial statements

The group financial statements include the results of The Society of Occupational Medicine and its subsidiary company SOM Enterprises Ltd. The results of the subsidiary are included on a line by line basis and its own profit and balance sheet are shown in note 18. 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

normally upon notification of the interest or dividends paid or payable by the investment fund manager.

being retained by the organising Group. Amounts paid by Central Funds into Groups are shown as transfers between funds.

Donations of gifts, services and facilities

Going concern

Based on the level of surplus reserves, the trustees consider that there are no material uncertainties about the charitable group’s ability to continue as a going concern. The Trustees 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.

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

Income

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:

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.

32

33

Notes to the Financial Statements

Fund accounting

Unrestricted group and central funds are those funds which can be used freely to meet the Society’s charitable objects. Designated funds are those funds which have been set aside by the trustees to be used for specific purposes.

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

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Operating leases

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

Intangible fixed assets

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

Tangible fixed assets

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

Office equipment: 20% on straight line basis

Listed investments

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

Financial instruments

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

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

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.

34

35

Notes to the Financial Statements
2. Detailed comparatves for the consolidated statement of fnancial actvites.
Group Funds £ Central Funds £ Designated Funds £ Restricted Funds £ Permanent Endowment Fund £ 2024 total £
Income and endowments from:
Donatons and legacies - 700 - 80,000 - 80,700
Charitable actvites:
Member services - 341,323 - - - 341,323
The Journal - 211,664 - - - 211,664
Quality Assured Appraisal Scheme - 270,397 - - - 270,397
Investment income - 4,332 - - - 4,332
Other trading actvites - 344,009 - - - 344,009
Total income 2,250 1,172,425 - 80,000 - 1,254,675
Expenditure on:
Raising funds - - - - - -
Charitable actvites:
Member services - 256,015 - - - 256,015
Member meetngs - 189,271 - - - 189,271
Journal costs - 190,698 - - - 190,698
Quality Assured Appraisal Scheme - 295,850 - - - 295,850
Grant related expenditure - - - - - -
Other:
Awards and prizes 17,761 575 8,224 - - 26,560
Corporate afairs - 211,929 - - - 211,929
Commercial trading costs - 24,064 - - - 24,064
Total expenditure 17,761 1,168,402 8,224 - - 1,194,387
Net income before net gains on
investments		 (15,511) 4,023 (8,224) 80,000 - 60,288
Realised and unrealised gains - 40,128 12,921 - 17,696 70,745
Net income for the year / net
movement in funds		 (15,511) 44,151 4,697 80,000 17,696 131,033
Reconciliaton of funds:
Total funds brought forward 100,314 594,384 84,151 - 174,649 953,498
Total funds carried forward 84,803 638,535 88,848 80,000 192,345 1,084,531

36

37

Notes to the Financial Statements

3. Income from donations and grants

Donatons
Grants
Peter Wright Fund
Total		 Unrestricted £
Restricted £
2025 total £
2024 total £
-
-
-
700
157,535
-
157,535
-
-
-
-
80,000
157,535
-
157,535
80,700

4. Income from charitable activities

Member services
Members’ subscriptons
The Journal
Proft share from OUP The Journal
Quality Assured Appraisal Scheme
QAAS appraisal fees
Total		 2025 total £
2024 total £
387,027
341,323
247,745
211,664
287,085
270,397
921,857
825,634

5. Analysis of expenditure

Costs of raising funds
Charitable actvites:
Member services
Member meetngs
Journal costs
Quality Assured Appraisal Scheme
Grant related expenditure
Others:
Awards and prizes
Corporate afairs
Commercial trading costs
Total resources expended		 Direct costs £
Support costs £
2025 total £
2024 total £
172,847
128,412
301,259
256,015
179,076
41,545
220,621
189,271
133,794
67,982
201,776
190,698
253,698
52,875
306,573
295,850
143,245
-
143,245
17,689
-
17,689
26,560
203,207
86,866
290,073
211,929
23,497
-
23,497
24,064
1,127,053
377,680
1,504,733
1,194,387
Analysis of support costs
Staf & related costs
Ofce & IT costs
Cost of premises
Finance costs
Governance costs
Total support costs
Support costs are allocated to Charitable actvites on the basis of staf tme.
Analysis of governance costs
Legal & professional costs
Staf & related costs
Audit costs
AGM, Council and executve costs
Total governance costs
6. Net income/ (expenditure) for the year
This is stated afer charging:
Auditor's remuneraton (excluding VAT)
- Statutory audit
Depreciaton and amortsaton
Property Rental Licence		 2025 total £
107,475
131,723
31,924
4,041
102,517
377,680
2025 total £
19,067
45,707
20,436
17,307
102,517
2025 total £
11,000
6,238
31,924		 2024 total £
98,280
99,061
31,260
3,639
121,987
354,227
2024 total £
52,290
38,272
19,584
11,841
121,987
2024 total £
19,584
4,488
31,260

7. Awards and prizes (Group and charity)

Golden Jubilee award
SOM and ESSO Prizes
Other award costs		 2025 total £
9,860
80
7,749
17,689		 2024 total £
8,224
575
17,761
26,560

38

39

Notes to the Financial Statements

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 contributons
Total		 2025 £
421,529
44,419
27,273
493,221		 2024 £
380,877
43,774
22,723
447,374

The number of employees whose emoluments as defined for taxation purposes amounted to over £60,000 in the period was one (2024: One).

Between £90,001 and £100,000: 0 (2024: 1) Between £100,001 and £110,000: 1 (2024: 0)

The total employee benefits including pension and employer NI contributions of the key management personnel were £333,728 (2024: £317,290).

b. Staff numbers

There were 8 employees based on average headcount (2024: 7).

c. Trustee information

None of the trustees received emoluments in the current or preceding year. During the period 7 trustees (2024: 7) received reimbursed travel expenses of £13,904 (2024: £9,481) and £584 (2024: £1,110) was spent for Trustee Indemnity insurance. No payments were made direct to third parties on their behalf.

9. Intangible fixed assets (Group and charity)

At 1 January 2025
Additons
At 31 December 2025
Amortsaton
At 1 January 2025
Charge for the year
At 31 December 2025
Net Book Value At 31 December 2025
Net Book Value At 31 December 2024		 76,861
7,448
84,309
65,895
3,670
69,565
14,744
10,966

Intangible fixed assets includes SOM website and SOM app development costs.

10. Tangible fixed assets (Group and charity)

Cost
At 1 January 2025
At 31 December 2025
Depreciaton
At 1 January 2025
Charge for the year
At 31 December 2025
Net Book Value
At 31 December 2025
At 31 December 2024		 Ofce equipment £
48,912
48,912
40,174
2,568
42,742
6,170
8,738

11. Investments (Group and charity)

11. Investments (Group and charity)
Listed investments 2025 £ 2024 £
Market value at 1 January 2025 790,387 639,642
Acquisitons at cost - 80,000
Disposals proceeds (65,577) -
Realised gains on disposals
Unrealised gains/ (losses) on revaluaton
Market value at 31 December 2025		 5,069
67,891
797,770		 -
70,745
790,387
Historical cost of investments held at 31 December 2025 637,044 689,180
All investments are listed on recognised stock exchanges and are valued at 31 December 2025 as follows:
Market value 2025 £ Market value 2024 £
SUTL Cazenove Mult-Asset SOM Reserves fund 431,427 436,162
SUTL Cazenove Mult-Asset Dobbie Bateman fund 210,275 192,345
SUTL Cazenove Mult-Asset Golden Jubilee fund 62,270 75,946
SUTL Cazenove Mult-Asset Peter Wright fund 93,798 85,934
797,770 790,387
Financial instruments measured at fair value through proft & loss 797,770 790,387
Investments (Charity)
2025 £ 2024 £
Investment in subsidiary (see note 18) 10 10
10 10

40

41

Notes to the Financial Statements

12. Debtors

12. Debtors
Trade debtors
Prepayments and accrued income
Due from SOM Enterprises Ltd
Other debtors
Total
13. Creditors
Amounts falling due within one year
Trade creditors
Accruals
Due to SOM Enterprises Ltd
Social security costs and other taxes
Other creditors
Deferred Income		 2025 Group £
2025 Charity £
2024 Group £
2024 Charity £
30,265
-
21,791
-
154,474
152,744
139,221
134,406
-
-
-
4,807
8,589
14,952
250
250
193,328
167,696
161,262
139,463
2025 Group £
2025 Charity £
2024 Group £
2024 Charity £
24,104
24,104
4,913
4,913
86,946
81,745
91,111
85,875
-
7,195
-
-
13,445
13,445
21,586
16,764
7,240
7,240
6,480
6,480
93,027
93,027
105,116
105,116
224,762
226,756
229,206
219,148

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 £27,051 (2024: £22,723).

15. Movement in funds

15. Movement in funds
a.
Group unrestricted funds - current year
At 1 January 2025
Income
Expenditure
At 31 December 2025
Group unrestricted funds - prior year
At 1 January 2024
Income
Expenditure
At 31 December 2024
b.
Central unrestricted funds - current year
At 1 January 2025
Income
Expenditure
Gains on investments
At 31 December 2025
Group unrestricted funds - prior year
At 1 January 2024
Income
Expenditure
Gains on investments
At 31 December 2024		 Group & Charity £
84,803
-
(7,283)
77,520
Group & Charity £
100,314
2,250
(17,761)
84,803
Group £
Charity £
638,535
601,182
1,438,998
1,415,501
(1,487,590)
(1,464,093)
41,856
41,856		 Group & Charity £
84,803
-
(7,283)
77,520
Group & Charity £
100,314
2,250
(17,761)
84,803
631,799
594,446
Group £
Charity £
594,384
557,031
1,172,425
1,148,361
(1,168,402)
(1,144,338)
40,128
40,128
638,535
601,182

42

43

Notes to the Financial Statements

c. Designated funds - current year Golden Jubilee fund (Group & Charity) £
At 1 January 2025
Golden Jubilee Award
Gains on investments
Transfer between funds
At 31 December 2025		 88,848
(9,860)
5,310
(5,934)
78,364
Designated funds - prior year Golden Jubilee fund (Group & Charity) £
At 1 January 2024 84,151
Golden Jubilee Award (8,224)
Gains on investments 12,921
At 31 December 2024 88,848

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.

e.
Restricted funds - current year
At 1 January 2025
Gains on investments
Transfer between funds
At 31 December 2025
Restricted funds - prior year
At 1 January 2024
Income - Peter Wright Fund
Expenditure
At 31 December 2024		 Group & Charity £
80,000
7,864
5,934
93,798
Group & Charity £
-
80,000
-
80,000

Restricted funds

The purpose of the Peter Wright Fund is an annual Scholarship of course fees paid directly to a course provider for a medical doctor for a Diploma in Occupational Medicine who can show they could not otherwise afford such training.

d. Permanent Endowment Fund Group & Charity £
At 1 January 2025 192,345
Gains on investments 17,930
At 31 December 2025 210,275
Permanent Endowment Fund - prior year Golden Jubilee fund (Group & Charity) £
At 1 January 2024 174,649
Gains on investments 17,696
At 31 December 2024 192,345

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.

44

45

Notes to the Financial Statements Notes to the Financial Statements
16. Analysis of net assets between funds
a. Group - current year Unrestricted Funds £ Designated Funds £ Restricted Funds £ Permanent Endowment Fund £ 2025 total £
Intangible fxed assets 14,744 - - - 14,744
Tangible fxed assets 6,170 - - - 6,170
Investments 431,427 62,270 93,798 210,275 797,770
Net current assets 256,978 16,094 - - 273,072
Total net assets 709,319 78,364 93,798 210,275 1,091,756
Group - prior year Unrestricted Funds £ Designated Funds £ Restricted Funds £ Permanent Endowment Fund £ 2024 total £
Intangible fxed assets 10,966 - - - 10,966
Tangible fxed assets 8,738 - - - 8,738
Investments 436,162 81,880 80,000 192,345 790,387
Net current assets 267,472 6,968 - - 274,440
Total net assets 723,338 88,848 80,000 192,345 1,084,531
b. Charity - current year Unrestricted Funds £ Designated Funds £ Restricted Funds £ Permanent Endowment Fund £ 2025 total £
Intangible fxed assets 14,744 - - - 14,744
Tangible fxed assets 6,170 - - - 6,170
Investments 431,437 62,270 93,798 210,275 797,780
Net current assets 219,615 16,094 - - 235,709
Total net assets 671,966 78,364 93,798 210,275 1,054,403
Charity - prior year Unrestricted Funds £ Designated Funds £ Restricted Funds £ Permanent Endowment Fund £ 2024 total £
Intangible fxed assets 10,966 - - - 10,966
Tangible fxed assets 8,738 - - - 8,738
Investments 436,172 81,880 80,000 192,345 790,397
Net current assets 230,109 6,968 - - 237,077
Total net assets 685,985 88,848 80,000 192,345 1,047, 178

46

47

Notes to the Financial Statements

17. Operating lease and other future commitments

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

Operatng leases that expire:
Less than one year
One to two years
Total		 2025 £
31,260
62,520
93,780		 2024 £
22,950
-
22,950

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.

Proft and Loss
Turnover
Cost of sales
Administraton expenses
Proft before Gif Aid
Gif Aid to SOM Charity
Proft / (loss) for the period
Balance sheet
Debtors
Cash at bank
Creditors
Net assets
Called up Share Capital
Proft and loss reserves
Total equity		 y/e 31 December 2025 £
144,583
(17,600)
(98,438)
28,545
(29,359)
(814)
£
39,190
9,737
(11,564)
37,363
10
37,353
37,363		 y/e 31 December 2024 £
134,211
(21,000)
(93,748)
19,463
(19, 463)
-
£
31,291
25,622
(18,736)
38,177
10
38,167
38,177

19. Related party transactions

There were no other disclosable related party transactions during the year (2024: none)

48

49

The Society of Occupational Medicine 2 St Andrews Place, London NW1 4LB Charity nos. 1184142 (England) / SC041935 (Scotland) Company no. 11380861 (England and Wales) VAT No: 927 0030 57