2022-12-31-accounts - Aouk & I

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INDEX	PAGE
TRUSTEES' ANNUAL REPORT	1-4
INDEPENDENT AUDITOR'S REPORT	5-8
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET	10
CASH FLOW STATEMENT AND NOTES TO THE CASH FLOW STATEMENT
NOTES TO THE FINANCIAL STATEMENTS	12-21

		TRUSTEES' ANNUAL	TRUSTEES' ANNUAL	REPORT (Continued)	REPORT (Continued)	REPORT (Continued)	REPORT (Continued)
CHARITY	INFORMATION
Charity name		AOUK & I
Charity number		1190596
Principal	office	Marlborough	House
		York Business Park
		Nether Poppleton
		York
		YO26 6RW
Trustees		lan Pallister
		lan Sharp
		lain McFadyen
		John Quinlan
		Susan Deakin			(appointed		4 April 2022)
		Pauline Johnston			(appointed		14October 2022)
		Sorrel Langley-Hobbs			(appointed		14October 2022)
		Mark Jackson			(retired 4 April 2022)
		Jon Dwyer			(retired 14October 2022)
		Matthew Peed			(retired 14October 2022)
ADVISERS
Auditors		JWPCreers LLP
		Chartered Accountants		&	Registered	Auditors
		Genesis 5
		Church Lane
		Heslington
		York
		YO10 5DQ
Principal	Bankers	Lloyds Bank pic
		Pavement
		York
		YO1 9LB
Investment	Managers	Walker Crips	Group Pic
		Old Change House
		128 Queen Victoria House
		London
		EC4V 4BJ

				Unrestricted	Designated	Total	Total
			Note	Funds	Funds f	2022 f	2021 f
INCOME
Charitable activities:
Grants receivable				215,088	50,220	265,308	250,200
Investments				47,045		47,045	50,801
Other				100		100	455
Total income				262,233	50,220	312,453	301,456
EXPENDITURE
Cost ofraising funds:
Investment	management		fees	12,581		12,581	12,308
Charitable activities			3	234,333	147,086	381,419	284,551
Total expenditure				246,914	147,086	394,000	296,859
Net income / (expenditure)		before	gains or losses	15,319	(96,866)	(81,547)	4,597
Net gains / (losses)	on investments			(222,257)		(222,257)	98,035
Net income / (expenditure)				(206,938)	(96,866)	(303,804)	102,632
Gross transfers between		funds		(3,570)	3,570
Net movement in funds				(210,508)	(93,296)	(303,804)	102,632
Fund balances at 1	January	2022		1,701,840	125,390	1,827,230	1,724,598
Fund balances at 31 December			2022	1,491,332	32,094	1,523,426	1,827,230

		BALANCE SHEET AS	AT 31 DECEMBER 2022	AT 31 DECEMBER 2022
		Note		2022	2021
			6	6	6
FIXEDASSETS
Investments				1,394,209	1,581,144
CURRENT ASSETS
Debtors			89,516		16,095
Cash at bank and	in hand		104,317		243,011
			193,833		259,106
CREDITORS: amounts		falling
due within one year		10	(64,616)		(13,020)
NET CURRENT ASSETS				129,217	246,ii86
TOTAL ASSETS	LESSCURRENT LIABILITIES			1,523,426	1,827,230
THE FUNDS OF THE CHARITY:
Unrestricted funds		13		1,523,426	1,827,230
				1,523,426	1,827,230

AOUK & I	AOUK & I	AOUK & I	AOUK & I	AOUK & I
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
		Note	2022	2021
Cash flows from operating activities:
Net cash provided by / (used in) operating activities		1	(150,417)	(9,631)
Cash flows from investing activities
Dividends and interest from investments			47,045	50,801
Proceeds from sale of investments			160,682	582,911
Purchase of investments			(184,575)	(630,917)
Net cash provided by / (used in) investing activities			(11,429)	8,885
Change in cash and cash equivalents in the year			(138,694)	2,049
Cash and cash equivalents at 1 January 2022 *			243,011	240,962
Cash and cash equivalents at 31 December 2022			104,317	243,011
NOTES TO THE CASH FLOW STATEMENT
RECONCILIATION OF NET INCOME/(EXPENDITURE)			TO NET CASH FLOW FROM OPERATING
ACTIVITIES
			2022	2021
			f
Net income / (expenditure) for the year			(303,804)	102,632
Adjustments for:
Net losses /(gains) on investments			222,257	(98,035)
Dividends and interest from investments (Increase) / decrease in debtors * Increase / (decrease) in creditors *			(47,045) (73,421) 51,596	(50,801) 45,574 (9,001)
Net cash provided by/ (used in) operating	activities		(150,417)	(9,631)
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
			2022	2021
				6
Cash at bank			104,317	243,011

NOTES TO THE FIN	NOTES TO THE FIN	NOTES TO THE FIN	ANCIA	L STATEM	ENTS FOR	THE YEAR	ENDED 31	DECEMBE	R 2022
INVESTMENT INCOME
				Unrestricted	Designated	Total	Unrestricted	Designated	Tot&I
				Funds f	Funds F	2022	Funds f	Funds f	2021 f
Dividends -		equities		33,845		33,845	39,111		39,111
Interest	- securities			13,200		13,200	11,690		11,960
				47,045		47,045	50,801		50,801
CHARITABLE ACTIVITIES
			Note	Unrestricted	Designated	Total	Unrestricted	Designated	Tot&I
				Funds f	Funds f	2022 F	Funds f.	Funds f	2021 f
Educational		activities		156,554		156,554	147,569		147,569
Grants	payable				147,086	147,086	4,000	44,861	48,861
Annual	meeting			55,363	-	55,363	68,705		68,705
Governance		costs	5	22,416		22,416	19,416		19,416
				234,333	147,086	381,419	239,690	44,861	284,551

to institutions:
University of Liverpool
South Tees Hospitals NHS		Foundation	Trust
South Tees Hospital Charity
University ofWest Midlands
University of Oxford
University ofCardiff
University ofStaffordshire
University ofCoventry
University of Birmingham
Norwich FRCS
Cardiff and Vale University	Local Health		Board
The Children's Orthopaedic	and Trauma		Fund
University Hospitals Coventry		and Warwickshire
LisaHadfieldLaw Limited
British Orthopaedic Trainees		Association

SUPPORT COSTS
	Total	Total
	2022 f	2021 f
Administration management Secretarial	24,971	19,620 7,135
Web and computer costs General administration	7,200 15,631	7,477 13,145
	47,802	47,377

		Direct cost	Support costs	Support costs	Total	Total
		ofactivities	Fixed	Apportioned f	2022	2021
Educational activities		116,322	40,232		156,554	147,560
Grants Annual	payable meeting	143,516 51,363	3,570 4,000		147,086 55,363	48,861 68,705
		311,201	47,802		359,003	265,136

				Unrestricted	Designated	Total	Unrestricted	Designated	Total
				Funds f	Funds f	2022f	Funds f	Funds	2021 f
Amounts	paid	to auditor	in
ln respect	of:
- Audit fees				2,400		2,400	2,400		2,400
-Accounting		and other	services	2,400		2,400	2,400		2,400
Trustees'	meetings			17,616		17,616	14,616		14,61ii
				22,416		22,416	19,416		19,416

NET INCOME / (EXPENDI	NET INCOME / (EXPENDI	TURE)
Net income / (expenditure)		is stated	after charging:
				2022	2021
				6
Operating	lease rentals			5,660	7,276
FIXEDASSET INt/ESTMENTS
				2022 E	2021f
Fair value	at 1 January 2022			1,581,144	1,443,988
Additions				184,575	630,917
Proceeds	from sales			(160,682)	(582,911)
Realised	net gains / (losses)			(3,958)	7,113
Unrealised	gains / (losses)			(218,299)	90,922
Movement	in cash account			11,429	(8,885)
Fair value	at 31 December	2022		1,394,209	1,581,144
Investments at fair value comprise:
				2022 2	2021f
Listed investments
- Equities - Securities				1,057,786 301,485	1,226,447 331,183
Cash within investment porffoiio				34,938	23,509
				1,394,209	1,581,144
				2022 6	2021f
Historical	cost of listed investments		at 31 December 2022	1,405,194	1,375,189

	DEBTORS	2022	2021
	Other debtors	8,573	49
	Prepayments	3,716	1,694
	Accrued income	77,227	14,352
		89,516	16,095
10.	CREDITORS	2022	2021
		F	2
	Trade creditors	6,723	5,283
	Accru ala	7,492	7,737
	Grants payable	50,401
		64,616	13,020

TRANSFER IN FROM	UNINCORPOR	ATED CHARITY (Continued)	ATED CHARITY (Continued)
Net assets transferred	were analysed	between funds as follows:
		Unrestricted	Designated	Total
		Fundsf	Funds f.	01.01.2021
Fixed assets		1,443,988		1,443,988
Cash		154,179	86,783	240,962
Other current assets /(liabilities)		15,568	24,080	39,648
		1,613,735	110,863	1,724,598

					Net gains
		Fund at			(losses) on		Fund at
		01.01.2022	Income f	Expenditure	investments f	Transfer f	31.12.2022 f
General fund		1,701,840	262,233	(246,914)	(222,257)	(3,570)	1,491,332
Designated	fund:
Research and
Development	fund	125,390	50,220	(147,086)		3,570	32,094
		1,827,230	312,453	(394,000)	(222,257)		1,523,426

UNRESTRI	CTED FUNDS	—Prior	Year
			Transfer from			Net gains	/
			Unincorporated			(losses) on		Fund at
			charity f	Income f	Expenditure f	investments		31.12.2021 f
General fund			1,613,735	242,068	(251,998)	98,035		1,701,640
Designated	fund:
Research and Development		fund	110,863	59,388	(44,861)			125,390
			1,724,598	301,456	(296,859)	98,035		1,827,230

ANA	LYSIS	OF NET ASSET	S BETWEEN	FUNDS
			Unrestricted	Designated	Total	Unrestricted	Designated	Total
			Fundsf	Funds f	2022 f	Funds	Funds f	2021 f
Fixed	assets		1,394,209		1,394,209	1,581,144	-	1,581,14(
Cash			31,297	73,020	104,317	130,549	112,462	243,011
Other	current	assets/(liabilities)	65,826	(40,926)	24,900	(9,853)	12,928	3,075
			1,491,332	32,094	1,523,426	1,701,840	125,390	1,827,23i)

					Unrestricted	Designated	Total
				Note	Funds	Funds	2021
					6	6
INCOME
Charitable activities:
Grants receivable					190,812	59,388	250,200
Investments					50,801		50,801
Other					455		455
Total income					242,068	59,388	301,456
EXPENDITURE
Cost of raising funds:
Investment	management		fees		12,308		12,308
Charitable activities					239,690	44,861	284,551
Total expenditure					251,998	44,861	296,359
Net income / (expenditure)		before	gains	or losses	(9,930)	14,527	4,597
Net gains/(losses)	on investments			8	98,035		98,035
Net income / (expenditure)					88,105	14,527	102,632
Reconciliation offunds
Fund balances transferred		in from	unincorporated
charity				11	1,613,735	110,863	1,724,598
Fund balances at 31 December			2021		1,701,840	125,390	1,827,230