CHARTfY NUMBER: 1202586 ANNUAL REPORT AND FIS'AN'CIAL STATEIIIE.NTS FUR THF. YF.AR F.IDF.D 31 .IIARCH 2024
THE SCHOOL OF HERBAL MEDICI.YE AI%IIUAL REPORT AYD FINANCIAL STATEIENTs FOR THE YEAR EIIDED 31 ,NIARCH 2024 CONTENTS PAGE Reference and Administrative Inforn)alion Annual Report of the Trustees Independent Examiner's Report Sialemenl of Financial Activities Balance Sheet Annual Report of the Trustees Notes lo the Financial Sialements 9- 11
REFERENCE AIYD ADMIYISTRATIVE INFORMATIO FOR THE YEAR ENDED 31 MARCH 2024 Charity name: The School of Herbal Medicine Charity Registration Number: 1202586 Reglstered Office: 28 Angel Crescent Bridgwaier Somersel TA6 3EW Trustee: The following Trustees were In office as al the dale of this report". Margaret Anne Pope Chairperson Appointed 31" March 2023 Other Trustee Directors who held office during the year were as follows.. Elizabeth Anne Saunders-singer Appointed 31" March 2023 Dr. Susan Vassar Appointed 31. March 2023 Christopher Leslie Pope Appointed 31" March 2023 Sally Anne Gurner Andrews Appointed I I, July 2023 Accountants and Independent Examiners: Michael J. Dodden & Co. Chartered Cenified Accounlanls 34 North Sireel Bridgwater Somerset TA6 3YD Bankers: Natwesl 9 York Buildings Cornhill Bridgwater Somersel TA6 3BS Page I
THE SCHOOL OF HERBAL MEDICINE AliuAL REPORT OF THE TRLTSTEF.S FOR THE YEAR ENDED 31 .MARCH 2024 The Trnslees presenl their report and Ihe financial sialements for the year ended 31 March 2024. REFF.RENCE AND ADMINISTRATIVE INFORMATION The reference and adminisirative infonnalion sel out on page I fornts part of this report. STRUCTURE GOVERNAYCE AI%D MANAGEMENT The organisation is a charity and registered on 31° March 2023. They have a constitution which is managed by the CIO. Trustees seleciion mcihods including details of any conslitulional provisional are people who are interested in herbal medicine and support ihe training of medical herbalists and who realise the importance of education for the fijture of herbal medicine as practiced in Ihis country for the 2,000 years. Policies and procedures adopled for the induclion and trnining of trusiees are infomial and discussive. None of our trustees are paid. Mrs. Singer is an experience trusiee wilh Ihe Sioke Club and has shared her expertise generously in meetings. Sally Andrews is an experienced bookkeeper. The charities organisalional strnclure and any wider network with which Ihe charity work are major strategic and financtal decisions and made by S Vassar and M. Pope, including discussions with Irusiees where appropriale. We have no wider network. In accordance with a Iruslees meeting whilst selling up the charily S Vassar and M Pope have reduced their teaching load and have successors for next year to continue to reduce their leachin8 commilmenls. OBJECTIVES AND ACTIVITIES The objects of the CIO are to advance Ihe education of the public in the subject of herbal medicine in such ways as the charity trusl¢es think fit. and in particular (bul nol exclusively) by.. the provision of a Iraining coursc leading lo an Advanced Diploma in Herbal Medicine. and the operation of a training herbal clinic open lo the public in which students undertaking training in Herbal Medicine can gain relevant practical experience, the eslablishmenl of which is a necessary parl of the students. education. Key objectives for the ycar included: to broaden the academic curriculum by providing a comprehensive public health module which addresses the importance of soil, air and waier quality on the health of patients. and the effect that climate change can have on health. lo increase student applications lo provide continuing 5UPPOrt of the students who have graduated by providing a follow-on post graduate support group to develop ways in which our ring-fenced bursary could provide extrdcurricular aclivilies of their herbal Iraining which would benefit our final year studenls. lo develop and expand Ihe herbal training clinic on sile so that students can gain relevant practical experience lo provide herbal tiealment for their local communtty at reduced fees. ACHIEVEMELYfs AND PERFOILMANCE Module fees were raised from £520 10 £530 for the academic year starting September 2023 which is in line wilh the Consumer Price Index of March 2023-2024. Page 2
Students are allowed lo pay by monthly instalments. which has particularly allowed students on lower incomes lo join Ihe school Student numbers have remained stsble, although the school is running below capacity. The school has just completed their Annual Review foT our ongoing accreditation with the National Institute of Medical Herbalists. The school is pursuing accreditation wlih the European Herbal and Traditional Practitioners Association, for which they are in the final siages An extra monthly Saturday clinic has been added lo their weekly Monday clinic io enable students which is essential for their training This means that the local community benefits from exlrd access lo low-cost herbal medicine, and nutrilional and lifestyle advice The school hosted a Guest Speaker Day where a professional herbalist spoke about developing a herbal medical practice The school's website has been thoroughly updated, and the prospectus and application forni are now online Achievements against objectives sei are we hired four leaders in their fjeld to deliver the comprehensive public health module in which the importance of soil, air and water quality on the health of patients. and Ihe effecl that climate change can have on health was addressed •sludenl applicaiions were increased due to the applicaiion forni being easily accessible online • a follow-on post graduate support group has been set up and run by a tulor the bursary will now be given lo our final year Sludenls lo obtain a FRFC3 qualification the school has expanded our clinic by adding an exira Saturday a monih the number of paltenls from the local community accessing the Iow-cost clinic has grown. Perforn]ance of fundraising activilies against objectives set are we have an ongoing Easy Fundraising link which conlribules small amounls. Onsite we have a second-hand medical book selection to benefit our students. On our Guest Speaker Day we have a cake sale 10 rdise funds FINANCIAL REVIEW A statement explaining the policy for holding reserves are ihere lo assure that we can pay our rent and bills if the monthly students fee are delayed. The amount of reserves held are £4,000. An explanallon of any uncertainties about Ihe charity coniinuing as a going concern are if all our students pay their fees all is well, if a proportion of them experience financial difficulties we would have lo reconsider our position. The charilies principal source of funds is student fees. The principal risks facing the charity would be the rate of students dropping out. Fortunately, the dropout rale from year 2 is zero Page 3
This report has been prepared in accordance with the Sialement of Recommended Practice.. Accounting and Reporting by Charilics (FRS 102) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating lo small companies. Approved by the Trustees on 13, December 2024 and signed on their behalf by: Margaret A. Pope Chair of the Truslees Th¢ School of Herbal Medicine 13, December 2024 Page 4
IN ENT EXA ER, REP THE TR THE SCHOOL OF HERBAL NIEDICI.NE FOR THE YEAR ENDED JI NIARCH 2024 I report on the financial siaiements of the company for the year ended 31 March 2024. which are sel out on pages 5 to 10. Respective Responsibilities of Trustees and Examiner The Trustees are responsible for ihe preparnlion of the financial slal¢menls. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. Having satisfied myself that the charity is nol subject lo audit under company law and is eligible for independent examinaiion, it is my responsibility lo.. examine the accounis under Section 145 of Ihe Charilies Act. lo follow Ihe procedures laid down in the General Directions given by the Charity Commission under Section 145(5)(b) of the Charilies Act: and lo state whether particular mailers have come to my attention. Basis of Independent Examiner's Report My examination was carried out in accordance with the General Directions given by Ihe Charity Commission. An examination includes a review of the accouniing records kept by thc charity and a comparison of the financial slaiemenls presented with those records. 11 also includes consideration of any unusual items or disclosures in the financial siaiemenls. and the seeking of explanations from you as Iru51ees concerning any such mallers. The procedures undertaken do noi provide all the evidence that would be required in an audit and. consequcntly, no opinion is given as to whether the financial slatemenls pr¢s¢ni a 'true and fair view, and Ihe report is limited to those mallers sel out in the statement below. Independenl Examiner's Statement In connection with my examinaiion, no material matters have come lo our aiienlion which gives me reasonable cause lo believe that. in any material respect- al the accounting records were not kepi in accordance with Section 130 of the Charities Act. or bl the accounts did noi accord with the accounting records. I have come across no other matters in connection with the examination to which attenlion should be drawn in this report in order lo enable a proper undersianding of the financial statements lo be reached. Michael J. Dodden & Co. Chartered Certified Accountants 34 North Street Brid aler Ben Cleaveley FCCA A TT Dale: 13, December 2024 Page 5
HE STATE.MENT OF FINANCIAL ACTII'ITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted RtrIcted Total Funds Funds 2024 Note INCO,MING RESOURCES Income from fees Bank inieresi 95.693 61 95,693 61 Total incoming resources 95,754 95,754 RESOURCES EXPENDED Costs of generating funds.. Wages and salaries Rental expenditure Direct costs Computer costs and subscriptions Sundry expenses Printing, posiage and stationary Advertising Rates. insurance and utilities Repairs and maintenance and hire Accommodation and meals Phannacy costs Legal fces Accounlancy and bookkeeping Bank charges 33,934 13,041 19,391 2,220 53 3,645 500 2.070 5.787 12,256 1.956 1.380 963 216 33,934 13.041 19,391 2,220 53 3.645 500 2,070 5.787 12.256 1.956 1,380 963 216 Totydl resources expended 97.412 97.412 Nel tJV(oul) resources for Ihe year (1,658) {1.658) Total funds brought forward Total fund5 carried forward (1.658) (1.658) All activities of the charity are continuing operations. Page 6
THE SCHOOL OF HERBAL MEDICINE BALA,NCF. SHEET AS AT 31 IM.&RCH 2024 2024 Note FIXED ASSETS Tangible fixed assets CURRENT ASSETS Stock Accrued income Debtors and prepayments Cash ai bank and in hand 2.195 7.794 9,989 CREDITORS: AMOUN'TS FALLING DUE WITHIN OYE YEAR Trade creditors Other creditors Accruals and defeTred income 21,575 21,575 NET CURRENT ASSETS (11,586) NET ASSETS (11.586) REPRESENTED BY:, Unrestricted fund5 (11.586) TOTAL FUNDS {11.586) The directors, siatemenls required by Sections 475{2) and (3) are shown on the following page which fornis part of this Balance Sheet. Page 7
THE SCHOOL OF HERBAL MEDICINE AI%NUAL REPORT OF THE TRL'STEES FOR THE YEAR ENI DED 31 MARCH 2024 In approving these financial statements as direclors of ihe company we hereby confimi: a) Ihat for Ihe year staled above ihe company was entiiled io the exemption conferred by Section 477 of the Companies Aci 2006: b) that no notice has been deposited at the registered office of ihe company pursuant to Section 476 requesting that an audit be conducted for the year ended 31 March 2024- and cl that we acknowledge our responsibililies for- l ) ensuring that the company keeps accounting records which comply with Section 386. and 2} preparing financial slaiemenis which give a true and fair view of ihe slate of affairs of the company as at the end of the financial year and of its profIl or loss for the year then ended in accordance with the requirements of Seclion 393 and which oihenvise comply with the provisions of the Companies Act 2006 relating 10 financial siaiements. so far as applicable to the company. These accounts have been prepared in accordance wilh the Sialement of Recommended Praclice.. Accounting and Reporting by Charilies (revised 2005) and in accordance with Ihe special provisions of Part 15 of the Companies Act 2006 relating to small companies. The financial siatements were approved by the Board on 13, December 2024 and signed on ils behalf by Margaret A. Pope Chairperson Page 8
THF, SCHOOL OF HERBAL I¥TEDICIN'E OTES TO THE FI)ASCIAL STATE.MENTS FOR THE YEAR ENDED 31 IIARCH 2024 ACCOUNTING POLicfES Basis of Accounting The Financial Siatements have been prepared in accordance with the historical cost convention, applicabl¢ accounling standards. the Slaiemenl of Recommended Practice.. "Accounting and Reporting by Charilie5" (FRS 102) and the Charities Act 2011. The principal accounting policies which have been adopl¢d on a consistent basis within thai convenlion are sel out below. Incoming Resourc Income is recognised in Ihe year in which the Charity is entitled lo receipt and the amount can be measured with reasonable certainly. Grants and donalions are recognised on a receivable basis. Granis and donations received for the general purposes of the Charity are credited lo unrestricted funds. Grants and donations subject to specific wishes of Ihe donors are Caled to relevant restricted funds. Resources Expended Resources expended are accounied for in the year in which Ihey are InCued. The Charity is not regisiered for VAT and consequently input VA T payable on expenses is included within the item of expense to which il relales. Where an item of expenditure fa115 directly wilhin one cost category il is altribuied lo Ihal category only. Where expendilure involves more Ihan one category it is apportioned on a reasonablc and juslifiable basis. Restricied Fund5 Reslricled funds arise where donors place restrictions on how the money can be spenl. Boih the income and capital of the funds may be applied for the charitable purposes. Unrestricied Funds These are funds which can be used in accordance wilh the charilable objects at the discretion of the Trustees. 2. STAFF COSTS AND EMOLUMENTS There were no employees with emoluments above £60,0(K) in either the current or previous year. None of the Trnslees received any remunerdtion or reimbursement of expenses from the Charity during either the currenl or previous year. Page 9