## |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| |Grants|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| ## ## ## ##