CHARITY I- DENTISTS BDA BENEVOLENT FUND ANNUAL REPORT AND ACCOUNTS bdobenevolentfund.org.uk f In@
CHARITY FOR ALL DENTISTS British Dental Association Benevolent Fund Report Of The Trustees And Financial Statements For The Year Ended 31 December 2024 Registered charity number: 208146 bdabenevolentfund.org
Contents Item Content5 Co-chalr's foreword Trustees and staff Reference and adminlstration detalls Charitable objects- who we support Publlc benefit Charitable activitle5- how we 5UPPOrt Objectives and activities Achievements and performènte against Oilf objectlves and actlvities Activities in 2024 Looking ahead: priorities for 2025 Financial revlew Reserves policy Investment pollcy and objectlves Structure. governance. and management Trustee recruitment, selection. and election Trustee induction and training Advisory Councll Membership Staff pay Rlsk management Statement of Trustees Responslbllltles Auditors report Statement of flnanclal activities Balance sheet Notes to the financlal statements Pa io io io-ii li 11-12 12 12 12-13 13 13 14 15-18 19 20 21-35
Report of the trustees for the year ended 31 December 2024 Co-chalrfs foreword We are pleased to present our second CchaI¢S forward as part of the BDA Benevolent Fund's Annual Report and Accounts for the financial year 2024. Over the past twelve months. we have seen both progress and reslllen¢e as we work towards our vislon: Wo dent15t in hardshlp.. Strategi¢ Achlevements The demand for support continues to grow, with 200 applications received In 2024 - a 14% Increose on 2023, and almost double the number received In 2021. Dentists made up most applicants at 57%, whlch now includes refugee and asylum seeker dentists. whlle 40% were dental students and 3% dependents. The average age of appllcants was 31, with individuals ran8in8 from 18 to 75 years old a notable shlft from prevlous decades. This change reflect5 both succe55ful awareness-raising efforts among dental students and the growlng pressures on dentlsts in the early stages of their careers. The top re350ns for applying were: Managing cash flow ènd money management challenEe5 Financlal hardshlp whlle studyin8 at universlty Support with retuming to or retrainlng in dentistry Ralsln8 awareness remains a key priority. and website vlsits increased by 27% in 2024, includlng a 1270% sur8e in traffic to the new asylum seeker and refugee dentlst 5UPPOrt page launched in March. Flnan¢ial Overvlew Our financlal posltion remains strong, thanks to the ongolng generosity of our 5UPPOrters and careful financlal management. We were particularly Erateful for increased donations from Local Dental Committees ILDCS) and continued generovs support from Wealthwide and Dentlsts, Provident. In addition. we received a one-off £20,0 donation from the Anglo-Asian Odontological Group IAOGI. for whlch we are extremely thankful. We are continuln8 to work closely with our auditors. A C Mole LLP, to review how our expendable endowment and un¥estricted reserves are presented in the accounts. More detalls can be found on page 36. Governance and leadershlp Over the past 18 months. there have been significant changes to the Board of Trustees. At the AGM In June 2024, we said farewell to Dr Austin Banner (Vice Chairman) ar)d Dr Chrls Hayward (Treasurer) and welcomed Dr John Ulahannèn. Dr Hira Chaudhry. Dr Henrik Over8aard-Nielsen. and Df Jacqui Frederick, who formally transitioned from Co-opted Trustee to Trustee.
We wefe deeply saddened by the sudden p355ing of DrJohn Ulahonnan In November 2024. John n7ade an invaluable contribLrtion. inltially as a volunteer historlan for the Charitrfs Iyear history project, and then Bs a Trustee. He will be greatly m•ssed. We were pleased to welcome Dr Tony Jacobs as a Co- opted Tnlstee in January 2025 and l¢)ok fonvaid to his support as we move forward. Challenges and looklngahead Whlle we celebrate our achievements, we must also recognise the challenges ahead. Ecoftomlc pressures. ring student debt. and contlnued unceTtainty around NHS dentistry contracts are placing greater flnancial strain on dentists and dehtal students. Refugee and asylum seeker dentlsts also face signlfieant barriers In re-establishin8 thelr careers in the UK. requirlng not only flnancial 5UPPOrt but also guldance on professional retraIng and inte8ration. Internally, we must ensure our goverTrance and operational processes continue to evolve to meet increased demand and the more diverse needs of OUT applicants. At the same time, we must continue to d>verslfy our income to ensure long-temi sustainability. while keeping awareness high acr055 the professlon so that those in need know we are here for them. Our prlorltles for Z025 Include: Expandlng support for refu8ee and asylum seeker denttsts* particularly around retrainlng pathways 8nd financial assIstan. Expandlng support for dental students and dentists to develop mDre financlal planning Information and resources. Stren8thening partnerships with dental schools. IDC5. and professional organisations to ensure more dentists and students are aware of the Charitvs support. Diversifying income Streams, includsn8 Corpoiate support, indiwdual Biiiin& and grants to secure long- term resiliente. Developlng the Arnbassadors scheme to create 3 netWOTk of suppoiters throughout the UK. Resolve the Issue relating to the allocatlon of the gains androsses between the expendable endowments and unrestricted resèrves Developin8 the 2026 strate8y Concluslon We would like to thank our dedicated stsff, volunteÈrS1 partners. and supporters for their tireless commitmenL Your generosSty makes a real difference to dentists, students, and their familles durin times of financial ¢rists. As we look ahead. we are confident that- wlth your ongoing support- the Charity will continue to provide a vltal safety net to those in need across the dental profession. Together, we will continue to drive meaningful change and uphold our shared vision of 'No dentist in hardship,. Dr Shafaq Ali & Dr Molly Oeykin Co- ChaiPs
Trustees All Trustee5 have served for a fiJll year unless ststed Co-chairs Vlce-chalrman Treasurer Dr Shafaq All and Dr Molly Deykin Dr Austln Banner (until 271061241 Dr Christopher Hayward luntll 271061241 Dr Richard Hems Ifrom 27/06124) Ms Hlra Chaudhry (from 27106124 to 18103120251 Ms Julie Chisholm (Co-opted from 0810V24 until 16105124) Dr Peter Crooks Dr Jacqueline Frederlck (Co-opted from 13112123. Trustee from 271061241 Dr Alexandei Gormley Dr Tony Jacobs ICo.opted from 22/OV251 Dr Derek M3nson Dr Henrik Overgaard-Nlelsen (from 271061241 Dr Menna Shykhon Dr John Ulahannan (from 27106124 untll 20111124) Patron The Patron of the charlty is the President of the British Dental Associatlon IBDAI- Dr Rlchard Graham from May 2024-2025 and Dr Dave Cottam from May 2025. Vlce Presldents Vice Presldents have an honorary role that Is nominated in recognition of exceptional support to the charity. They are not members of the Board of Trustees. Vice Presldents are put forward by the Board for electlon at an Annual General Meeting IAGMI and there is no term of office. We are continually grateful to our current Vice Presidents: Dr Vlorica Bergman, Dr William Nichols. Dr Mavis Phipps. Dr Ann Rockey, Or John Sandham, Dr Peter Swiss, Dr Sylvla Theaker, Prof Sir Nairn Wilson. Employees Flnance and Operations Administratoi Ipltl Chlef Executlve Mrs. Faye Serlin Ms. Laura Hannon
Reference and admlnlstration detalls Reglstered address 64 Wimpole Streel London. WIG 8YS 0207 4864994 Phone Accountant and auditor5 A C Mole LLP Chartered Accountants and statutory Audltors Stafford House. Blackbrook Park Avenue Taunton. Somerset. TAI 2PX Bankers Co-operative Bank 8usiness Customer Services PO Box 250, Skelmersdale, WN8 6wr Investment management (from Apdl 251 Qulter Cheviot Senator House, 85 Queen Virtoria Street, London. EC4V 4A8 Investment management luntll April 251 Investec Wealth and Investment Ltd 2 Gresham Street, London, EC2V 7QN Charitable objects - who we support The oblect of the Charlty Is to give financial or other help when practicable to such nesSIt0us persons resident in the UK who in the opinion of the Board of Trustees may be deserving of assistance and: whose names are or have been on the Dentists Re8iSter of the UK: or are students at UK dental schools: or c. Is someone who was entitled to work (through qualification, registratlon or equlvalentl as a dentlst in their home country and h35 asylum seeker or refugee status in the UK,. or are dependents of those listed in la)- Ic) and are also resident In the UK. Appllcants do not need to be a member of the Brltish Dental Assoclation IBDAI to access SUPPOrt. Publlc benefit The Trustees have consldered the Charity Commlssion's guidance on public benefit, and charlty law and believe the Charity meets the requirements of benefiting the public. and the prevention or relief of poveily. The Charity assists predominantly through providing financial aid In the foTm of grants, aiming to enable people to overcome thelr present difficulties. Grant support also allows people to continue
thelr studle5, return to work either withln the dental professlon or è sultable alternative workplace. The appllcatlon process can involve a flnanclal health check and slgnposting to other areas of support Including budgetin& debt services, wellbeing and mental health assistance. Charltable actlvitles- how we support Most of the support awarded Is financial. glven to indlvlduals who requested a5s1stance online via an appllcation form. As no two sltuètions are the same the amount of asslstance varies. Help often brldges the gap behveen income and expendlture for a short tlme, usually 3-4 months. Thls wlll contribute towards essential personal expenditure e.8. rent or mortgage. utility bills, and for food, travel, and general Ilvlng expenses for the applicant and their familv. Funds tan also be offered to manage one-off or unexpected expenditure. This can be for equlpment Ifurnlture, laptops, while goods etc.) or for professional or work-related expenses. Examples are indemnity. the annlral reEi5tratlon or retention fee IARFI. or continuing professional development such as exam fee5 or courses needed to get access to or remain on the General Dental Council reglster. For asylum Seekers or refugee dent15ts. assistance can be the same as dentist appllcants who are already registered in the UK, i.e. help wlth es5entlal living Costs. There is abo additional support available for exam fees i.e. the Overseas Registration Examination {ORE) or License Dental Surgery ILDSI to enable them to be re8lstered and 80 on to work as a dentist in the UK. Individuals can also access wellbein8 and mental health services through our partnersh5p with Health Assured. Access Is through an app, portal and 2417 helpline and includes free counselling. The Charit¢s webslte has some other useful information including budget calculators. links to free debt advice and slgnpostlng to other sources of support. Whllst we will always help with the Immediate problem. the Trustees feel there is value in being more proactlve In offering educational Information and resoufces. In October 2024 we hosted a webinar entltled 'Plannin8 for the Future, In partnershlp with Better with Money, 125 registered with a 50% live attendance fate and 8feat feedback. Objectives and activities l. To respond effectively. efficiently, and sympathetically to enqu5ries and applicatlons and to provide assistance within the charitvs policies and resources. 2. To promote, advertlse and raise awareness of the d)8rity so that those In need are aware of the Charity and can easily asS assistance. Achlevements 4nd performance agalnst our objectives and actlvliles In addition to the two maln objectlves detailed above our strategle actlvities are...
No. Activity To work In partnership with the dentsl and charitable communities to dellver the best possible support to dental srudents and dentists in need. Output Continual liaison with LDCS. the BDA and BDA branches groups. and sections to raise awareness and funds. Work wlth the DHSTt05upport applicants. Work with dental Schools to promote the Charity amongst students. Financial sUPPOrt via grant funding as well as a 'health the¢Y as part of the application process: budget calculators are freely available to all on the Charitys webslte. Offerin8 tsilored support to the most urgent need with the option to be revFewed or extendeij bAt being mlndful of expertatlons, dependency. and undue reliance. Regular financlal dlscussion$, analysis, and reports at Board meetin8S. Regular investment updates and reviews with the Inveslment Manager. Communications and attivities with the dental communlty. Charity Code of Governance mapping and policles are revlewed annually and updated wheTe appropriate. Deadllne Ongoing Ongoing To support and encourage beneficiaries to become finanrlally independent. On8oln8 Ongoln8 On80ing To implement the charIt$ fundraising and investment strategies to ensure there are sufficient resources avallable to meet both current and fvture predicted need5. Quarterly Quarterly To Teview. benchmark and update the Charlvs operatlonal policie5. practice and governance arrangements on an ongoing basis consldering them alongside the Charity Governance Code to become a more eflicleTrt. effective, and Incluslve organisation. To offer ffee and accessible information and assistance for physlcal and mental health issues to applicants and their families. OnBolng Annual revlews Partnership with Health Assured was in5ti8ated in January 202Q. The Wellbelng Support for the Dental Team Resources are regularty slgnposted and publiclsed. Free budget caltulator on the charivs webslte and links to find local debt support. Partnership with Farewill- an onllne and telephone Will writing service to encourage Bood finandal planning. Annual review Develop the financial capability ski115 for the dental profession from 51udents to working and retired dentists. Encouraging ènd enhancing knowled8e to maximise income and mlnirnlse debts. to do a budget and plan. Ongolng On8oing Ongoing
Actlvltles In 2024 In 2024 £181,350 was given In grants (2023: £242,490). There were 21x1 appllcations12023: 1741 from 130 new applicant512023'.971. As part of the form, the Individuals plck the rnaln reason for thelr request, and we use thls data to conslder whether there are any trends. In 2024 the top three reasons were,. cash flowlmoney management {28%1 hardship at university127%1 support with retrainin8~114%1 These are broadly the same reasons for the last 3-4 years with the third reason changing from 'involvement with the GDC, in 2023, physlcal ill health in 2022 and debt in 2021. The average age of a new applicant was 31 in 2024131.6 in 20231 and again we had requests from people aged between 18- 74. The publlcatlon of a dedicated web pa8e including useful links and resourtes for refu8ee dentists went live In Marth 2024. This, and worklng with other organi5ations has led to an increase In requests from the asylum seeker and refugee dental communlty. Unsupported appllcants Not everyone who applie5 receives financial support. This can be because they do not fall withln our rem5t,' they weren't in financlal hardship at the time of applying due to their levels of Intome or savings or because they did not provlde the relevant information or evidence. In 2024, $0% of applicants were not financially supported142% in 20231. Feedback forms were instigated in 2022 to better understand why people apply and how much they understand about the process to help improve our systems and communications. However, completion of these forms 15 Ilmlted in numbers. The Grantmaking Poll¢y wa5 reviewed and updated in March 2024 helplng to clarify and hlghllBht key areas about what support is available. We regularly review our communication5, particularly our website, to ensure it best articulates our remit and process. We are worklng on an up(Jated pre- eligibility form and amended application5 to go live In sprlng 2025. Thls we hope will reduce the number of financially unsupported requesls. All applicants can recelve wellbein8 advice, restsurce5, and acce55 to counselllng as well a5 signposting to other information, organisations or services regardless of the decision to offer financial aid. Flnance Followlng a tender exercise In autumn/winter 2023. new auditors- A C Mole LLP were appolnted In January 2024 who spetialise in charily accounting.
For the 2023 Accounts and Annual Report, A C Mole LLP hlghllghted an issue due to the application of the galns and losses between the endowment and unrestricted fund5 in previous years. Thls meant that the accounts were quallfied. The staff and Trustees have been working to resolve these qverie5. Followlng advlce from solieitors. the Charity Commission and working with A C Mole LLP. it was agreed the Trustees should look to agree the posltion of the funds in 2021- the basls of the error. Thls was dlscussed and unanlmou51y opproved at the Board of Trustees meetln8 on 18 March 2025. M•rketln8 and fundralslng Our Trustees. Vlce Presidents, and Patronl51 are encouraged to speak at any relevant meetlngs and events to help promote and continue to raise awareness of the charity. Often these events can also be local fundraisin8 Opportunities. The most common reason people hear about us is through word of mouth, which is why speaking at events and people passing on our detalls to their friends and colleagues Is so Important. We were grateful to be given the chance to speak at the LDC Conference and LOC Officla15 Day in 2024. The Charity has a website, as well as profiles/ pages on FacebooK Instagram and YouTube. These platforms enable us to give Information and for people to search, find and contact us. This also complements our newsletters. one sent to our supporters and the other sent out to BDA members, via the BDA'S 5VStem. We are grateful for the BDA'S Marketlng and Events Teams who continue to support U5 by promotlng details about the organisatlon In thelr eommunlcations. Looking ahead: prlorltles for 2025 Our prloritie5 for 2025 include: Expandin8 support for refugee and asylum seeker dentistsi particularly around retralning pathway5 and financial asslstance. Expanding support for dentsl students and denti5tS to develop more flnancial planning information and resources. Strengihenlng partnerships with dental schools LDCS, and professional organisations to ensure more dentlsts and students are aware of the CharitVs support. Diversifying income stream5. including corporète support, individual givin& and grants to se¢ure long- term resilience. . Developlng the Ambassadors scheme to ¢ate a network of supporters throughout the UK. Resolve the issue relating to the allocation of the gains and losses between the expendable endowments and uiireslricted reserves Develop the 2026 strategy.
Flnanclal review Income is derlved from voluntèry sourtes Suth as contributlons from LDCS. Indlvlduals 8fvln& colleetlon51 events or8anised through BDA branches and sections meetings and legacles. Income Is also received from the CharItS Investment& The financlal sUPPQrt from the dental communlty, especially from LDC5. has been an Incredlble help. We are humbled to have been given £118,928 {from LDCs acr05S the country £108,153 In 20231. A breakdown of LDC contributlons15 detailed on pages 27- 28 for transparency as well as acknowledging our supporters Individually. We remain incredibly grateful for those who donated through thelr BDA branch. section and group meetings, Indivlduals who organlzed fundraising events, those to pled8ed support through legacy glving and company contrlbutions. Reserves policy The Reserves Policyls revlewed annually as well as regularly monitored In consideration of our income, expendlture, and strategic plans. The Charity has unrestricted funds of £1,179,236 of whlch £1,178,341 is 'free reserves,, i.e. they are not tled up In fixed assets or otherwlse desl8nated. Of these unrestricted funds, £1.138.132 are investmersts belng held to generate Income and secure the long-term funding of the charlty. In addition to the unrestricted funds. the charity holds £6.170,451 of expendable endowment funds. The BDA Benevolent Fund has been 5UPPOrting people since 1883 and the increasing number of requests for assistance demonstrates that the support ihe Charity offers continues to be necessary. It would. therefore, not be approprlate to 'spend down, the Investment portfolio. The free reserves enable us to fulfll the objective5 by maintalnlng the level of sUPPOrt to those we are helpln8 on a iegular ba515 and providing for the future. The Charity has 'free reserves. which exceed 12 months of expenditure- thls Is deemed to be appropriate after actively considering the current and future financlal posltion and the sustainablllty of the organlsation. Investment policy and objectlves Investments ère manaEed on behalf of the charity by Qullter Cheviot from April 2025. Prior to thi5 they were managed by Investec Wealth and Investment Ltd (part of the Rathbones Group). The primary objectlve of the portfollo is to provide a stable and predlctable income stream to supplement the CharitVs income from donations plus maintaining its real value, adjusted for inflation. This pollcy enables the Charity to meet the current requests whilst ensuring sufficient means are retalned to meet the requlrements of future generations and to provide for those that are living longer. io
The Investment objectives are: The creatlon of a sufficient financial return to enable the Chèrlty to carry out Its purposes effectlvely and wlthout Interruptlon. The malnterFar7ce and if possible, enhan¢ement of the Investment5; and A reasonable balance between capital growth and income so that the Charity can meet future a5 well as current needs. To achleve these objectives the investment needs to be a balanced mix of assets l.e. equltles, fixed Interest, and monetary assets in line with our retum objective and risk tolerance. The portfolio takes into consideratlon the interests of the Charity and that of the dental profession to have an ethieal restriction in its portfollo and therefore does not Invest In tobacco. The Trustees also Intend that the monies should be invested in an ethically and socially responslble manner which is understood and reported on by the Investment Managers at least twlce per year at our Board meetings. Structure, governance, and management The BDA Benevolent Fund (the Charity) is an unincorporated charitable association, registered with the Charlty Commission in England- number 208146. The governing document is'the Rules,. Resolutions to afflend the Rules were put to the Members at the Annual General Meeting IAGMI on 4 July 2023. Prior to this, they were last a8reed on 13 June 2019. The Board of Trustees meets quarterly and is responsible for providing strategic leadership, overseelng the key areas of performance, and ensuring the Systems and processes are legal, robust. and leliable. They also oversee the two members of staff. The Trustees are split into three subgroups overseeing Flnance and Governènce: Marketing and Fundraising and Grant making activities. Each subgroup rneets at least once between the Board meetlngs to report to the next Board meeting wlth thelr recommendation5 for collective detislons to be made. Trustee recruitment, selectlon and election Trustees have a three-year term of office. to be re-elected by the rnembers at an AGM. Officers pre re- appointed by the Board for a maxlmum of slx-year term. Thls allows for contlnulty but a process for renewal of skllls. Upon approèchlng the end of thelr term of offlce, current Trustees can either choose to stand agaln or retlre. Prlor to eath vacancy, the Board considers the existing knowledge. ski115. experience, and diverslty of the current Trustees to identify any gaps prior to advertising the positions. Trustee vacancies are then adveftlsed on the Charit¢s website. throuBh its social media channels and vla Its newsletters. Interested Individuals must self-nominate with a CV and supporting statement for consideration by the Board in line with the role descriptlon. Following the pre-selection process, candidates are then pvt forward by the Board for election at the AGM to be voted on by the members. li
The Board alms to support good governance and the delivery of Its charitable purposes promoting equality. diversity, and inclusion 0$ outllned by Its EDI policy. It noted the makeup of the Board wasn't previously diverse. and thls was somethlnB the Trustees looked to address. Through the last two processes of recrulting new Trustees. the adverts requested individuals to nomlnate themselves. particularly If they were not Current represented on the Board In terms of background. skllls, experience. or 8eographlcal locatlon. This has Improved the diverslty of the Board which has moved towards better embodylng the dental community and wider society. There Is still some work to be done with thls and $0 the Charity started to collect dats on key dlversity characterlstlts of the Board In April 2024. Followlng the change in Trustees. thls was updated agaln in March 2025. The diversity audit outlined there was a 55% Imalel vs 45% Ifemalel split in gender- the same as the previous year. 63% of Trustees are aged over 44 and 27% consider themselves to have a disabllity or long-term health condition (down IO% on the previou5 year). In 9% of Trustees, English wasn't their first language. Regarding ethnlcity. 63% were white {En8lish, Irish. Scottish or Welsh), 9% whtte lotherl, 18% Aslan and 9% Arab. Trustee inductlon and trainlng Upon starting. all Trustees receive a welcome and induction pack ènd have an Introductory meeting with the Chief Executive to learn more about the day-to-day work of the Charity. A formal Trustee tralnlng Strategy ensures Trustees continue to be aware of thelr re5ponsSbllities and are kept up to date with relevant charitable legislation and best practice. All Trustee5 sign a Code of Conduct and are required to adhere to all policies. They must also disclose all relevant interests, and a conflict register is kept and updated annually. Trustees must wlthdraw from any declslon-making where a conflict or potential conflict could arise, which is noted In the minutes. Advisory Councll An Advlsory Councll was established in 2020 to help foster relationshlps and gather feedback from indivlduals and representatives across dentistry, some of whom may become prospective Trustee5. The Charity convenes Advisory Council meetings 85 needed, wilh a maximum of two meetings per year. The inaugural meeting took place virtually on 14 November 2020. with 51 attendees. There were no meetings held in 2022. The third meetingi held vlrtually on 4 February 2023, focused on expandlng the Charit5 remlt to include support for asylum seeker and refugee dentists. No Advlsory Councll meetings were held in 2024. 12
Membershlp Members form an essentlal part of the charivs governante as they oversee the Charlty and have the responslbS1ity and authorlty to exercise votlng rlghts at the Annual General Meetin8 IAGM) or an Extraordinary General Meetln8 IEGM). Member5 also elect the Board of Trustees who oversee the charity on their behalf. The Chèrity has three categories of membership. Trustees Partnership Members e.g., supporters. Wice-presldents, donors, and current or previous reclplents. BDA members who automatically became members of the Charity upon joinlng the BDA There Is no charge to be a BDA Benevolent Fund 'Partnership' member. If would like to become a member, lease contact us. Staff pay Pay is reviewed annually by the Co-chalrs, and Treasurer. and relevant benchmarks are used to determine awards. In 2024, one member ofstsff received more than £60.000 per annum, Risk management The major rlsk5 that might threaten the charity, its reputation and Its continued operètion are cor)sldered ot least annually vla a risk assessment which includes Identification and classification alongside a55urance. Aevlewlng and updating policies annually provides continual confidence in the CharItS governance arrangements. The Co-chalrs take responsibillty for staff management. Knowledge of offlce processes and key contacts are avallable for the Trustees to attess so the Charlty can contlnue to function In an emergency andlor due to the incapacity of the stoff. Professional advlce is taken where approprlate, particularly on legal, financial and communication matters. Staff and Trustees attend training and events to help ensure they are kept up to date with relevant legislation and legal responsibilitles. There is an item on every Board of Trustees meeting agenda to highlight key legal and regulatory updates for a consistent approach. 13
Statement of Tru5tees' Responslblllties The trustees are responsible for preparlng the Trustees, Report and the financlal statements in a¢cordance with appllcable law and Unlted Kingdom Accounting Standards Includlng Financlal Reportlng Standard 102: The Financial Reporting Standard applioble ITh the UK and Republlc of Ireland Iunlted Klngdom Generally Accepted Accounting Practice). The law applicable to charities in En8land & Wales requlre5 the trustees to prepare financlal statements for each financial year whlch give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that perM)d. In preparing these financi31 statements. the trustees are required to: select sultable accountin8 policies and then apply them conslstently,. observe the method5 and principle5 IVI the Charities SORP: make Jud8ments and accounting estimates that are reasonable and prudent,. state whether applleable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and prepare the financial statements on the going Colltern basis unless It is inappropriate to presume that the charity will continue In busine55. The trustees ère responsible for maintalning proper attounting records whlch disclose wlth reasonable accuracy at any time the financial positlon of the charlty and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provislons of the trust deedlconstitutlon. They are also responsible for safeguarding the assets of the charlty and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularitle5. Approved by the Board of Trustees on and slgned on its behalf by: Dr Molly Deykin. Co-chair Dr Richard Hems. Treasurer 14
Independent audltorfs report to the Trustees of the Brlt15h Dental Assoclation Benevolent Fund Oplnlon We have audlted the finandal statements of the Britlsh Dental Associatlon Benevolent Fund I'the charltrfl for the year ended 31 December 2024 which comprise the Statement of Financial Actlvltles, Balance Sheet, and Notes to the financial statements. intludinB a summary of significant accountlng pollcie5. The financlal reporting framework that has been applled in their preparatlon is appllcèble law and Unlted Klngdom Atcounting Stsndard5. intruding FRS 102 The Flnancial Reporting Standard applicable in the UK and Republic of Ireland (United Kin8dom Generally Accepted Accounting Practice). In our opinion, the ftnanclal statements: glve a twe and falr view of the state of the charivs affalys a5 at 31 December 2024 and of Its incoming resources and application of resources for the year then ended- have been properly prepared In a¢cordance"with United Klngdom Generally Accepted Ac¢ountlng Practice; and • have been prepared in è¢cordance wlth the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit In accordance with International Standards on Auditlng IUKI11SAs IUKII and appllcable law. Our responsibilities under those stsndards are further described in the Audltor's responsibilities for the audlt of the flnancial statements section of our report. We are independent of the charity In accordance with the ethlcal requirements that are relevant to our audit of the financlal statements in the UK. Including the FRCS Ethical Standard. and we have fulfilled our other ethlcal responslbilitles In accordance with these requirements. We belleve that the audlt evldence we have obtalned is suffitient and approprlate to provide a ba51s for our opinion. Concluslons relatlng to 8oln8 concern In auditing the financial statements, we have concluded that theTrustees' use of the going concern ba515 of accounting in the preparatlon of the financial statement5 Is appropriate. Based on the work we have performed. we have not identifled any material uncertalnties relating to events or conditions that, indivldually or collectively, may cast signlficant doubt on the charity's abillty to conllnue 35 a Boing concern for a period of at least 12 months from when the financlol stètements are authorised for issue. Our responslbllitles and the responsibilltles of the Trustees with respect to going concern are descrlbed In the relevant sections of this report. 15
Independent auditor's report to the Trustees of the Brltlsh Dental Assoclatlon Benevolent Fund Other Informatlon The trustees are responslble for the other informatlon contained within the annual report. The other nformatlon comprlses the informatlon included in the annual report. includlng the trustees, report, other than the financial statements and our auditorfs report ihereon. Our oplnlon on the financlal statements does not cover the other Snformatlon and. except to the extent otherw15e explicltly stated In our report, we do not express any form of assvrance conclusion thereon. Our responsibllity 15 to read the other Informatlon and. In dolng so, conslder whether the other information Is materially Inconsistent with the finantial statements or our knowledge obtained in the course of the audit. or otherwlse appears to be materially mlsstated. If we identify such materlal Inconslstencles or apparent material mlsstatements, we are requlred to determlne whether th15 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 materlal misstatement of this other information. we are requlred to report that fact. We have nothing to report In this regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report in respectof the followln8 matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requlre us to report to you rf. in our opinion: the information given In the trustee5' report is inconsistent In any material respect with the financial statements; or sufficient accounting records have not been kept: or the finantial statements are not in agreenient with the accounting rÈ¢ords,' or • we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As expl8ined more fully in the trustees. responsibilities statement. the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal tontrol as the trustee5 determine is necessary to enable the preparation of financial statements that are free from material misstatement. wheiher due to fraud or error. In preparlng the flnancial Statements. the trustees are responsible for assessing the charitvs abllity to continue as a Boing concern. discloslnE, a5 applicable, matters related to going concern and uslng the going concern basis of accounting unless the trustees either intend to Ilquidate the charlty or to cease operations, or have no realistlc alternative but to do so. 16
Independent audltor's report to the Trustees of the Brltish Dental Assoclation Benevolent Fund Our responslbllhles for the audlt of ihe flnanclal statements We have been appolnted as èudltor under sectlon 144 of the Charltles Act 2011 and report In accordaneè with the Att and relevant regulations made or having effect thereunder. Our obJectives are to obtain reasonable assurance about whether the financial statements ès a whole are free from material misstatement, whether due to fraud or error, and to Issue an auditor's report that Includes our opinion. Reasonable assurance Is a hl8h level of assurance, but is not a 8uarantee that an avdit Conducted In accordance wlth ISAS {UK) will always detect a material mlsstatement when It exlsts. Misstatements can arise from fraud or error and are considered material If, individually or In the aggregate, they could reasonably be expected to influence the economic declslons of users taken on the basts of these financlal statements. Irregularltles, includlng fraud, are Instsnces of non-compliance with laws and regulations. We de51En procedures in Ilne wlth our responsib51itles. outlined above. to detect material misstatements in respect of Irregularitles, includin8 fraud. The extent to which our procedures are capable of detectln irregularities, including fraud is detailed below: Identlfyln8 and assessln8 Potentlal rlsk5 of materfal misstatement due to Irregularlties We considered the following when identifying and assessing risks of material misstatement due to Irregularities. includlng fyaud and non-compliance with laws and regulations: the legal and re8ulatory frèmework in which the tharity operates the nature of the sector in which the charity operates the control environment and controls estsblished to mitigate such risks the results of our enquiries of management about their Identification and assessment of risks of irregularities discusslons with the audit engagement team about where fraud mlght occur the incentlves for fraud. Laws and regulatiOf7s whlch ore eonsldered to be signtficant to the charity include those relating to the requirements of financial reporting framework FRS102. the Charities Act 2011, UK tax legi51atlon, and employment law. In addltion, we consider other laws and regulation whlch may not directly impact the financial statements but may impact on the operation of the charity. As a result of these procedures we concluded. in accordance with International Auditing Standards, that a risk in relation to the potentlal for management override of contro15 exlsted. 17
tndependent audltor's report to the Trustee5 of the Brltlsh Dental Assoclatlon Benevolent Fund AudSt responses to rlsk$ Idenilfted We undertook audit procedures to respond to the rlsks Identlfled, and designed our audlt testlng to respond to these risks. The additional procedures we undertook included the following: 8alnlng an understanding of the charltrfs procedures for ensuring compllance with laws and regulations testing the appropriateness of journal entries and other adjustments considerlng whether accounting estimates were indicative of potentia5 bias considering whether any transactions arose outside the normal course of buslne55 making enqulries of management corroborating our enqulries through review of Board Mlnutes and correspondence. We also communicated relevant laws and regulations arbd potential fraud risks to all engagement team mèmbers and remained alèrt to any indicators of fraud or non-compliance with laws and re8ulations throughout the audit. A further description of our responsibilities for the audit of the firFanclal statements Is located on the Flnantlal Reporting Council's website at.. www.frc.or auditorsres onsibilities. Thls descrlption forms part of our audltorfs report. A C Mole LLP is eligible for appointment as auditor of the charity byvirtue of its eligibilityfor appolntment as audltor of a company under sectlon 1212 of the Companles Act 2006. Use of our report Thi5 report Is made solely to the charltrfs trustees. as a body. In accordance wlth Part 4 of the Chbrities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might State to the trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than to the charity ènd the charitvs trustees as a bodyi for our audit work, for this report, or for the oplnlons we have formed. A C Mole LLP. Statijtory Auditor Stafford House Blackbrook Park Avenue Taunton Somerset TAI 2PX
Bffltlsh Dwtal Assoel•tlon Ben•volgnt Fund Statemeni d FIMndal A¢tlvltlg8 for thg Y¢ar Endéd 31 D8¢•ml)or 2024 UnrgStrict•d Endovrtnent funds fundty Total 2024 Incom9 Donakn'ons and legaae5 Inveslmenl irKorne 189,145 188.119 180.145 188,11 Toial Income 377.284 377.264 Exptyndlture Ral8ln9 lunds Chafilable activities- grants payab Support and governance Sts expenditure Galns on imitrsthiènl asspts (5.3391 {1B1.3501 168.0381 (33.071) (38,4101 1181,350) 768.038 1354.727) 51.583 133,0711 297,150 {387,7981 348 733 Net Income 74.120 264.079 Net movement In fvnds R8oon¢lllatlon of lund# Totsl fvnds brought fonmard Total fund$ carried forward 74.120 264.079 338.199 1.105.116 S,906,372 6.170.451 7,011,488 7,349,687 16 1.179,236 Unr•stri¢t•d End0%nent fvnds fund¥ Total 2023 Nolo Incom• Donatlons and legacies Ir)veslmenl Income 188.912 181.694 188.912 181.694 Tokl income 370.806 370.606 Expènditure Raising n$ Charitale acliviD'es- qiants payab Support and yovemance ¢o¥¢s Total expenrfilure Gains on investment 855els (5.346) 1242,490) 165.247 {28.476) 133.B22} I242,4) 165,247 {413.083} 53,9e (28,4761 287,416 1441.5S9) Net income 11.483 25e.&39 270,422 Nel movement in funds 11.4B3 258.939 270,422 Reconclllation of lund$ Total funds brcwJhl foThvaTd Tot*1 lunds caFrled lorward 1.093,633 1.105.116 5.647,433 5,9Q6.372 6,741,066 7,011.488 16 The notes on pa9es 2110 35 forffl part of these finansial statements. Page 19
Brftlsh DMl•l A¥soclallon Bonwolent Fund IR¢glotratlon nnbOr. 20814S) 8al8nu sherf as at 31 Deeomber 2024 2024 2023 Note Flxed a88ets Intsnglble assets Tangible Bssels Invastm8nts 2,354 1,254 7,Tr)2.648 7.006.25S 12 13 895 7.316.288 7.317.183 Current assets Debtors Cash at bank and iri haTrJ 14 11.754 60.347 72.101 39,59 11,086 36.607 47,6¥3 Cigdltors- Amounts lallng due wrfthln one yr t current a8$ets 15 42,461 5,232 7.011,488 Net asscts Funds ol the charfty: Endowment fund8 Unre8trteted funds ,170.4S1 1,179.236 7.349,687 5.906.372 1.105.118 Total funds 16 7.011.488 The fin nci 1 statsments cn pa9e$ 19 10 35 were appro¥Ed by the IJust. 8r*J aulhorise(f fcff issue Shalaq Ati Ch81rman Dr Molly DeKin Chairman The notes on pages 21 to 35 form part oflhese NCIal stalemenl5. Pa9e 20
Brltl•h D•ntsl A•v>¢lthn B•nwolrt Fnd Notss tts th• Flnan¢lal St•tem•nts fortho Yoar Ended 31 D¢c•mlJ•r 2024 1 Accountlng pollclos Statoment of comOanco and basls ol preparatlon financial Statents have bean prepared l¥stOli¢91 ¢osl convenbm wth itgms rvcognld at cost or transaction valufr unle53 slated OlerSe Ythin these notes. The finanaal glalements hav• bèen kyepared in 8¢¢ordance A¢cLxJnting aThJ Reporting by Charities: Stalwnent of Recommended Practice applicaue to tharibes weparirg accourrts In accordan the Fln8nc181 Reporbng Stsndard 8pplic8ble in th6 UK ar¥J Rewblic oi Irdand {FRS 1021 {1$suod Oct¢ber 20191 Ichaiib'es SORP IFRS 102)). the FInarla1 Repoiting Standwd #PFI"cable In the Unil&J 5fjngdorn 8n6 Republic of Ireland IFRS1¢Y21. and Ihe Charititts Act 2011. British Dent Assouab"on Benevdgnt meèts tho dofinitson of 8 be entity under FRS 102. The presentation currwKy of Ihe fiAClaI statgnents is the Pthmd &ertkng 1£) rouTrJed lo lh& neafe8t pound. Golng conc•m AE part of the trustee'$ asses5rn1 of going conc8m. Ihèy have epad cash flow pioleeion6.Th0 projeets¢n8 have been wepared on an atvopriate basi4 laknng into account the ¢urrenl economi ondilicn5 that exist After makng 8ppropriate enqulries. the trustees have rEasLnalrfe expectati(m that tha ¢harity has adequate Tes¢Jurces to enailè to It to continuo in operational exi5tenc foi thè forese&aiAe fUre. Th8 trustees therefe beve Ihat the cwcem basy8 16 stil appropriate and have wepared th accounts on gory cmcem basLs. Income AJI income Is rec¢gnised when thè charity has entiuement to the irKome. il is probalje thal tho Income WU be received and the amount can be rneasurwj *ith wifoenl reliab'lity. Donallons and legacl•8 Donallons and legacies are Yecognised a recalvth basi5 %then Feceipt is probable and th amount can be reh"8bty measwed. Grants re¢glvablg Granlg are reoognised when Ihe charity hag an entitteTht ID Ihe funds end any conditions linked to the grants hav6 been met. Where performance ndItionS are aiiached to the grant and gre yel to be mel. the inccmne ig reccgnj$ as 8 habdity and in¢Wed on the baL4nce shegl as deferred income lo be releasèd. Inveslmenl Income Investrnenl in¢om8 is accourrted Icw M an 8wuaf5 basts. Page 21
BrMl8h D8ntsl Asso¢Jatlon &novolent Fund Not8• to the Flnanclal statemts for Ihg Yaar Ended 31 D•comber 2024 leontlnued) Exponditure l expènditure Is rwnised onc& Ihere is a kg81 or c(rntructi oblgatjon to thal èxpeThJilur8, r( is probable seernenI FS fequired and the nt fan be measured rdiably. NJI costs are allocated to t1 applible expenditure headify3 that aggf8g8te MIl8r costs to that category. Where costs ¢annot be diTecNy attsilyjted io pth"¢r headings they have been allrtalÈd on a bas1$ conslstent wlh the use of resour¢e$. vllh centra staff costs alocated on the basis of tlme $penL and depreualion charges 811ocated on the portion of the asser8 use. Other supixrt costs arg allooated based ttn the sproad of staff c05ts. AJI resrAwce8 expended are in¢fusfvè ofirTr¢ovwatAe VAT. Ralslng fvndg These aTe cosls #icurred in attracting vohjntwy incwo. tho management of investments and trose Incurred in tr&(li activitie3 that ratse fwKIs. Charltablo acllvltl8s Charitae expendlttjfe ccvnwises those costs iKurred ty the tharrty in the delivory of ils activities 8nd services for its beneficiaries. It indleS both eosts that can be kn¢01ed directly lo such aetivi11os and those c03ts 01 •n indirect nature rEecessary10 8UFPOrt them. Gian¢ provlslon8 Piowiiions for grants are made the Intenlion to rnake a grant has been mmUnICa1ed to Ihe reryplent there is uncertainty about etther the limi of grant or the amount of granl payable. 8upport costs Support costs indude central ftfftL*ons and have be•n zllocated to aclivfy cost categories on a ba$ly consistent with the use of resoLYces. lor exaryle. alkcabw¥J Fyoperty costs by floot areas. or per awts. 8tsff coyts by ts'me spent aThJ thr costs by their usage. Govwnonce ¢08ts These include the ctssls attrtbutabk lo Ihe charitys ¢orrWiance with eDn5titutional and Stalutory requirements. inciud(ng awjil. slralegic mAnagement aThJ IrLBt88s rneetings ond reimbursed expenses. raxatlon The charty is a registered chaiity and l¥, therefore. exempt fr¢xn liablhty lo taxation its income and capital gains. to the 8Xtent that tlièy are 8PF4ied for tharit8Lle PLTr)ses. Intanglblè as$ot• Inlanglble assets. are slated ITr the Ba18nce Sheet al cost less accumulated amsytisation and ImpairmenL They are amorlised a stTaight litw basis 0r their estimated uselul lfves. Tanglble Ilxgd 8$58ts Individual fixed assets coslng £11XI tt me are inibaly recorded at cost. le$s any subsequent 8camul8tÈd depreciation aNI subsequent acciNnLrfated inp8irmenl105ses. Page 22
Brltl•h D•ntal Assoclallon B•n•volont Fund NoteB to the Flnanclal Slatnonl• forth• Yr End•d 31 December 2024 {contlnu8dl Amortl¥atlon Amortisatron is provided on intsnglble fixed assets so ?¥ lo lIe off Ihe co< 18ss ony estimated residual value. over thetr eXFeded usel economic kte as 0W$. Asset class Cornputer SofN¥rn Amortt&atlon molhod and rate 20% Straight Llne D¢preclatlon and amort1tIon Oepre¢iabon Is provided on I01¢ fixed assets so a$ to V•Ttt8 ofl th8 cost cr valuation, 18ss any estimated resldual value. ovw Ihei¥ eXcted vsefvl econornic Wfe a8 lolknvs.. Asset Clas6 ()ffice EqUIF8nI . D•pr•¢IlOn molknod and rate 20% Straighl Lw18 Impalrnmnt of 15xed a8set8 Al each balance sheet dale. Ihe ehty reiryews the carrying aThount ol its tangft)le fixed assets to deltm)ine whether there is any inth"¢atyon that ary items have sutfered an impairrnenl lo$$. If¥ny such indication e$(8, Ihe recoverable amount of an a5sel eslmated to determine the exlenl of the impairment loss, il any. Where it Is not p05Stde lo eslimate the recoverable amount ot the asseL the -.knatss the r)Verable amount ofthe eaSeneralIn9 tt to vkni¢h the asset belong$. Flxèd as$¢t Inv•stments Listed investmenis Llsted Investments are a forrn of b881c fin8rKxal jment and are inttialy recogni$ed at thelr Iran5a¢llon value and subsequentty measured al fair vaue al the balaTr sh881 dale using th$ doslng quoted market price. The Statemenl ol Finaal ince$ the net gains and lo$Bes arising on revalualioTI and thsp)s8ls 1hroUg)ut the poriod. The Charity d5 nol 8CqUiTe or use put option5, derfvativ95 orothgr finon¢ial rMlrum8)ts. Realised 9alll8 losses I gains and losses are taken io the slatefflent of financi81 aL"11eS as they arlse. Reali5ed gains aThJ losses on investments are calcJJlated as Ihe difierence sales proceeds and their opening ¢8rrying valu8 or their purthatse YJlu8 if aequired subsequent to Ihe frst day ol the financial yeaT. Unreallsed gwn5 losses are ¢al¢yl•t9d as th9 difl¢rence betsRen the laiT value at the P8Tiod end and their value. Reali5ed and urrtalkswj inVestr1 gaFns aThJ losses are comblned in Ihe Staternenl of Financial Aclivitigs. Cash and ca8h •qulvalgnts Cash and c35h equival15 comprise cash on hand and cal depo55ts, and other SIrt-terM hi9hly Ilwid Irbvestmenls Ihat are readly t(Thertible to a amount of cash and are subje¢t to an lns19nifint of change In valu& Fund structur• Unfestrted income fund5 are general ful8 Ihat are avble for use at Ihe trustees i8cretion in furtheranw oflhe objectives ol the charity. The charity h8s a sir expendable endovmenl lund, experNlable enLknment addittons thèreto Jrè lo be Invesled and iw)me used lor any puwose al ttE discretion ol the trusiees. Pa9e 23
8rfthh OHrt•l As•oclatlon Bowvol•nt Fund Notes to tho Flnan¢lal Siat•m•nt8 forthè YtJF Endod 31 DoCb•r 2024 Icpntlnu¢d) P•nslotvJ and 0lheT PO&t retlrern•nt obligattons The charity operotes o detfin8(f contribut"c penslon stheme Is a pension plan der vthich rixed contribulions are paid into # pension fuTrJ and the chaiity has no legal or cy)nstrudive obligation lo pay further contribvtiorts if the fund thjes frt hcld sUffiCnI assets to pay all employees thè beneffts reldryJ lo employee service in Ihe gJFrerrt arKI wior P0d$. Conlribuuons to defined contfibulim n$ are recogwed the Statement of Financlal A¢Um"I5 vh)èn they are due. If ¢ontrilxrtion payMts 8xceed I ¢(thUti duo for seNce, Ilx excess is rewr¥sed 88 a pfepayment FFn8n¢FJl Jn#truments The Charlty onty enter8 Into basic finKlal instnThents that iesull in the recognition olfinancial a5sel8 oThJ labrfitieg sueh as de and other debt(Ks creditors. Debl instrumènts. SLFch as tradè debtors 8TrJ ryedrtors aro Wilba rneaswed al tran$a¢tion pri¢$ and 8ub$equenlly meosured 91 grnoitised Cost. Finandal assets are assessed at thè ènd of each rewbrvJ ppriod for objective evidence of impaim)ent. 11 obIecOve 8den(e of imparmert 15 found. 8n impairnienl loss is recognised in the Stslemenl of Financi81 Actitsib"es. Crlllc41 A¢¢ountlng E8llmaf•s and JUdgeMts The preparation ofthè financial 8talements in ccmformity Mlh FRS 102 requires management lo make judgements, e$tim8185 and assumptson$ that affect the aFV[icatiC of p0cleS and rted amounts of asseis and liabilits"es, income. and expense8. Egtimales and judgements are contiwalty evthated arml are ba6ed cffi hlstori¢al expevrence and other laclors, induing 9XpeoIsOn$ of firtLre ovents that are beIVed lo be reasonable under thè circumstan¢es. The Charity make5 estim3le5 pnd 8ssurnptiS ccwmng the fvbjre. The resulting accouMin9 estim8les 111. ty definllion, seldom equ the related acfval resuhs. The Tru$lees consider that there are no criti¢al accounting eslimales and judggment$ h8vE a ¥ignifi¢ant rlsk of c8uslng 8 material adjusbnent to Ihe carrwng 8m¢unts of assets and fialJ"kn"e5 wlhin the next fmanual ygar. Page 24
Brltlsh O•nl•l A¥s•xl•tlon 8•n•volont Fund Not•8 to tho Flnanclal Stotemwts forthe Year End8d 31 Dbctmber 2024 {contlnue# 2 Incctho from don•tlon8 and lègaGI•• Unro•trict•d funds G•norn1 Total funds Donations from LOCS British Dental Assoclatiorfs Branches Donallon$ ifK1ivUalS Legacies Others 118,928 13.51Y2 12,036 1,000 43.679 118.928 13,502 12,036 1,000 Total lor X124 189.145 189,145 Donations Irom LDC$ British DenlAI Associ811on's Branches Donation5 fram individuals Legacies Olher5 Gift 8ld redaimed Qranl8 108,153 14,103 11,403 24.600 16.022 631 14.000 108.153 14,103 11,403 24,6 16,022 631 14.000 Total for 2023 188,912 188.912 Page 25
Brlll•h D•ntsl AA¥oclallon Bgnovolent Fund Notes lo th• Fln•n¢lal Stat•m•nts forthg Yo•r Endgd 31 DK•mb•r 2024 (contlnugdl Detail of don8bons from LtfA- 2024 2023 Avon LDC Bamet L Barnsley Lt Bro Taf LDC Bury & Rochdak LDC Cal¢Jerdale & Huddersfield LD centr Lancs LDC CUM10 LDC Derby LDC Devon LDC Dotset LDC Dyled Powys LDC East Lancanshire E88t Ri(lin9 LDC Enfiel¢J and Han9¢Y E55ex LDC Gloucester L Hampshire & Isle ofwight & Hants IOW LDC He4nts LDC Hertfordshire LL Kent LDC LDC Conferen¢e Leeds Lct Leicester LDC Lineolnshir¢ LDC Llverpool LDC Lo¢ Dent Cle8 Er LDC Norlolk LDC N¢Jrth LDC North Derbyshire L North Tyne LDC N(Mlh8mptrM$Fdre LDC Northanls LDC Northern Irel8nd Le Fund Northern Regi¢xal LDC Northumberlal LOC Rolherhem LDC Salfoié LOC Sefton LCC Sheffièld LDC South Ch8shir• L South Hurnber LDC Suffolk LDC Sunderland LDC 50D 2,000 1.000 1.000 5.000 2,000 1,500 3,000 3,000 2.000 1,126 10.000 1,5(M) 1,160 10,IX 1,500 5,165 3,OC4) 6,000 4.000 2.000 1.369 1,000 10,QOO 1.600 4.000 1.500 1.100 15.0 3.575 2,(NJO 1,333 1,500 8,10 1.0 6.000 4,000 4.000 1.166 1,105 3,000 400 4.$00 1,500 500 1.800 1,500 6,500 2,000 750 4.)0 700 Page 26
Brltl#h Dontsl AsBocfa(ion Bgn9volont Fund Notrs to tho Flnanclal Stat•monts forthg Yr End•d 31 D•c8mbw 2024 (contlnuedl 2024 2023 Suir•y LDC Sussex LDC Wakefield LDC Wallsall LDC Watwickshire LDC West Penlne LDC Wesl s$X LOC Wltshire LDC Wwr81 LDC Wolverhapt0n LDC 5,000 5,000 5,4YJO 1,000 4.188 5,(KJO 2,OfyJ 12,000 2,914 1,500 2.500 500 500 118.928 108,153 3 Invoslffl•nt Ineom• Unr¢strt¢ied funds G•n•r41 Totsl funds Interest received on inyestmenl P) Interest reeeivabb and similar ir 187.627 492 187,627 492 Totsl for Z024 188,119 188,119 Interest rec8iv8d on iwe8bnenl P¢ytrolio Inteiesl recelvable and similar irKom• 181,405 181,405 Total for 2023 181,694 181,694 Page 27
BrlllBh Dqntsl As¥oclatlon B•n•volont Fund Notss to FlTran¢lal Statwngnts forthe Yw Endod 31 Dtt•mbor 2Q24 (contlhuedl 4 Exp•ndtturo on r•181ng lund# ) Costs of iradlng •tllv11108 End0in0 Unm8lricted funds funds Expwdab Ganeral Tot•1 funds FundraSsing Ira¢Jir¥J costs: Fundrai5ir 2.220 Total for2024 Totsl for 2023 2,220 2.220 2.220 bl Invo8tm•nt managwnent cmts Endovnn•rtl fvn Expendable Unrestrlcled fund• General Total fundj Olher portfrfio management costs Total foi 2024 30.851 5.339 36.190 5,339 36,190 Othèr porttoiio m8nag•Jnent costs Totvl foi 2023 5,346 5,346 33,822 33.822 28,476 S Expendlturo on charltable acllvldes Unrostrlct•d funds G•neral Total fund8 Giant funding ol actiwlleB Anocated support co$ts Governance costs Nots 1B1.350 139,882 28.156 349.388 181,350 139.882 28,156 Total for 2024 Grant fun(ffirKJ of ackn'wtieB Allocated 91JPPOrt easts Governan costs Total lor 2023 242.490 143,495 21,752 242,490 143,495 21.752 407.737 407,737 The charity vndwtskes ils charitable ac11e5 through wi makiThJ. Grants are paid lo irKlividual$ directly lor lo a third party on their behalfj vary according to i?rcL•nStsnces in fierce of ils eharilable activities. Page 28
Brltlsh O•ntal Assoclatl•)n Benevol•n¢ Fund Notes to the Flnanclal Stal•m•nts lor thè Year 31 D•cember 2024 {nInU•d) 6 Support ¢08ts Unro#tricted funds Gohgral Totsl Staff costs General Offi costs M8rketsng and publidty Depre¢18tk, amorb'satsijn and otr*r sknilarcosts Traveln9 expenses Totol for 2024 98.474 14.301 20,495 2,713 3,899 98,474 14,301 20,495 2,713 3,899 139.882 139,882 Staff costs General offiee costs MaTktts"ng aThJ 11 D¢preciaU(ffi, amortIon 8nd Olher similarcosts Travelling expenses Total for 2023 88.758 10,451 88,756 10,451 38,644 2,897 2.747 2.897 2.747 143.495 143.49S 7 Analysls of govern•n¢g and Support ¢OBts Support Costs amocaled to rh4rllabJo activhlfrs Other Juppori Govornanee B48b of allallOn Stsff lime Stsff time Total 2024 Staff cost General office costs 10.942 1,585 12,527 98.474 14.301 109.416 15,886 125,302 112,775 Oth•T support costs Govgmance Basv4 ol allocation Staff bmo Stafl trme Total 2023 81gff cost Gentral olfice costs 9.862 1.161 88,756 10,451 98,618 11.612 11,023 99.207 110.230 Page 29
8rf11¥h Dental Aosodatlon 8on•volgnt Fund Nots* lo the Flnandal StstrnTrts forlhè Yoar End 3t Dgcembor 2024 {¢ontlnued) Govornan costl UnTestrictod fundts Goneral Total fund8 staff costs AGM and truske8' meeting clts General office costs Subscripb'ons, leès and training Audllols omunerauon kncountBncy Other legal and profeSnal fees 10,942 4.127 1,585 10.942 4,127 1,585 1.068 3,870 4.200 3.870 4,200 2,364 EIJ Total lor 2024 2,364 28.156 28.156 Staff costs AGM and trustees. meethng costs General offiet costs Sub$cripth). liCee5. fee5 and traTrilThJ Auditorfs remuneralion A¢¢ounlancy Other I¢B81 arKS professi8¥ fees Total for 2023 9.862 1,913 1,161 920 9,882 1.913 1,161 920 4,536 2.340 1,Q20 2,340 21.7S2 8 Nèt Incomellexpenditvr•l N8t income for the year indthJes'. 2024 2023 Audilorfs munelatiOn- for audit 8eNces Audilorfs iemunerEtr¢X- kjr a¢coun18ncy seNces Predecessor audiloly remuneration- atht seNces Predeee55or a1110rfs r8nwn6iation - for ac1&n serrices 3.870 4.2(M) 3,800 3.O¢kl 936 8.070 Page 30
8rlirsh Dts1 A$8oclatlon BgnovdoTrt Fund Nots• to Ihe Fkn8nefal StalemÈnt• forthg Year Ended 31 o•Cb•¥ 2024 (¢ontlnu•dl 9 8taff ¢08t8 The aggre9ale payrc41 coslswwe a8 loRcth3". 2024 2023 staff ¢04ts during the year wore: Salaries Soci81 Securi co$ts Pension costs .696 89.274 5,790 4.766 Q930 4,577 109.416 98.617 The awage number of peon8 employed by Ihe charity was 2 (2023.. 21. No Tfuslee received any r¢muneration. Exponses lot81ts.ng £1.133 (2023.. £2.576) tra re1Mburs to 4 (2023.. 81 Truste8s to enable attendance qt meeb"ngs. The CEO 8nd frustges are ¢CKIe to èe key man8WlVrt persml. Key management personnel ranun¢rab"on totslled £80.78712023.. £74,849). One effipIoyee ¢¢IVed emolwnents of mcwg £60.Cth durit¥J Ihe year (2023.. Nil). The number of emFrfoyee8 whose erncknients fell knilhin lh8 fo1j0 bands was.. 20z4 £7Q,001 . £80,CJO 2023 10 T•xatlon The tharity is a regi$ltr8d charity and is therefora exempt frcffl taxati its Incom? and c8pItsi gains lo the extent that they are applied Icr charitable pwposes. Page 31
Brftlsh Dwtsl A¥8oclatlon 8èTh8vo1gnt Fund Not•8 to th• Flnan¢l41 Statem•Trts for th• Y•ar Ended 31 Decembff 2024 (contlnu•d) 11 Intanglblè flxo11 assets Computor Softwaro Total Co$t Al 1 January 2024 Al 31 Decembtr2024 Amortl8atlon At l January 2024 Charge for the year At 31 Dècemter 2024 book v&lu¢ At 31 December 2024 Al 31 December 2023 12,896 12.8 12,896 10.542 2.354 10.542 2,354 12,89B 12,896 2.354 2,354 12 T*nglbl• flx8d ¥911 Furniture and èqulpmont Total Cost At l January 2024 At 31 Dec6mber 2024 D¢wKlatlon At 1 January 2024 Charg¢ for the year At 31 Dè¢ember 2024 Net book valu• At 31 Decewber 2024 At 31 December 2023 1,793 1,793 1,793 539 359 539 359 895 1,254 Page 32
8rltl$h Dental A$8oclatlon B0nw¢nt Fund ote¥ to thg FancIal Statements for th• Y•ar Ended 31 De¢•mber 2024 (contlnuod} 13 Flxod a8J•t Invwstmènts Lbted Inve¥thi•Trts 2024 2023 Co¥t or Valu4tlon At l January Addits'¢JK8 Dlsposals Revaluation 6.929,0 1.5L17.068 (1.644.735) 324 6@3 7.116.796 f99,492 7,376,288 8.463,260 2,877.631 (2,794,445) Cash herd in investrnent portfor Net book va al 31 Decembe 6,929,800 72,848 InvfjstmeN$ at falr valu• M¥d. UK fixed interest secwities UK equlties linc. propewtyl ForetfJn fixed interest gecuitie8 aThJ eQties Attern8tive assets 2024 2023 1.227.383 584,251 4.$83.739 621,423 7,116,796 1,083.417 1,065.336 4.255,575 525.472 S.929.8LX) 14 Dobto 2024 Prepayments Other debtors 2023 813 10.941 11.754 2.269 8,817 11,086 Page 33
Brftl8h D•nt•l As•o¢latlon Bgn8volent Fund Noto8 to th• FlTran¢lal Slalwtt•nts lor the Year Ended 31 Do¢embar 2024 Icorrtlnuod) 15 CMdlt¢r8: amoun18 lalllng wlthln ono Grant commilments Other creditors Ac¢rua18 2024 2023 3.025 24.388 15.050 26.983 12.614 16 Fund¥ B41ance ot i January Othe Balance at 31 IgnIs•d D&Gemb8f qalns 2024 In¢ome Exp•ndlture Vnyo•trlct•d funds General 1,105.116 Endowmgnt lund8 ExpendAe Total fund8 377264 1354.7271 51.583 1.179.236 (33,071 (387.798 7,011.488 297,150 348.733 6,170.451 7,349.687 Balance at Other 31 r•cognl¥d Ooc¢mb•r gains 2023 Balan¢e al 1 J8nuary 2023 Inc¢Jme Expenditure Unre8lrtct8d fundj General 1.093,633 Endowmgnt funds Expendable Tolal lund• 370.& (413.083) 53,960 1,105,116 5.647.433 28.476 287415 370. 5,908,372 441.559 341,375 7.011,488 The expen£Jable eno1nenl is lo be irwested and the income used for any ch8ritsble purpose at th? discTelion ol the trustees. The expendable eNJowmenl may also be spent al the abscAule discretion of the trustets. The unrestrirled incorne fd may be appkn'ed lor any Fupose at the di$et10n of the Iruslees. Page 34
Brltl3h Donlal AS¢111+n BoV1t Fund Notss to the Flhancl•l Statements for th¢ Yèar Ended 31 Docembor 2024 (conllnuèdl 17 Analys1$ ol not utset8 betwgon funds Unro•trfct•d Elloowmont lunds Gen•ral ftsnd8 Expendablo Total fundfh al 31 Doeember 2024 Tgile fixed assets Fixe(l asset MNestments Current assets Cuirenl 11a.14eS T¢tsl nel a8Sgts 1.138.132 72.101 31.892 1.179.236 895 7,316,288 72.101 39,597 7,349.S87 Total fund$ al 31 Decemb8r 2023 Q178,158 7.705 6.170.451 Endowm•nt funds Expendlbl Unrgstrktèd funds Genèral Intsngiblo fixe(l a85ets Tangible fixed asset Fixed a58el thvestrnènts Citrrenl assets Current liabililies Total nel ssets 1,254 1,025.W7 111.848 35,347 1.105.116 2,354 1.254 7.002.648 47,693 42,461 7,011,488 5.9n,641 164.1551 7,114 S.906.372 18 Relatod party tran8109 There %4ere no rdate(J paFty transaction$ in the yeaf (2023_ NII. Page 35