CHARITY FOR ALL DENTISTS BDA BENEVOLENT FUND ANNUAL REPORT AND ACCOUNTS 2025 ?rf bdabenevolenrfund.org.uk 208140 f in@
CHARITY FOR ALL DENTISTS British Dental Association Benevolent Fund Report Of the Trustees and Financial Statements for the Year Ended 31 December 2025 Registered charity number: 208146 bdabenevolentfund.org
Contents Item Content5 Co-chaies foreword Trustee5 and staff Reference and administration details Charitable objects Public benefit Charitable activities Achievements and performance 2025 Strategic priorities 2026-2030 Financi31 review Reserves policy Investment policy and objectives Structure, governance. and management Trustee ¥ecruitment, selection, and election Trustee induction and training Advisory council Meniber51iip RemuneratlDn policy Risk management Statement of trustees responsibilities Auditors report Statement of flnancial actlvilies Balance Sheet Notes to thè f1nancial statemenis Pa&e 6.11 11-12 12-13 13 13-14 14 14-15 15 15-16 16 16 16-17 18 19-21 22 23 24-38 Page 1
Report of the trustees for the year ended 31 December 2025 Co-chairs, foreword 2025 was a slgnificant year for the Charity. We tontinued io work towards our vision of 'No dentlst in hardshlp,. rè5pondinB to growing demand while expandins the reach and impact of th¢ Chèritqs support. Against a backdrop of ongoing econornic pressures, demand for support reathed the hi8hest level in the Charity's history. We saw increasing number of applications highlighting both the challenges faced by members of the dental tommunity and the importance of havin8 a dedicated source of support when hardship arises. Throughout the year, we remained committed to providing timely financial assistznce alongside practical guidance, wellbeing resources, and mental health support. We also continued to focus on helplng Individuals build longer-term resilience through financial wellbeing resources, budgeting support, slgnposting, and preventative initiative5 deslgned to reduce the Ilkelihood of future hardship. Together, these servlces help members of tho dental community overcome challenge5, Continue their studies or professional development, and move forward with confidence. We were encouraged by the growing engagement of the profession with the Chariiv and by Increaslng awareness of the support available. Through our presence at major dental events, ongoing communications, and the sharing of beneficiary storips, we continueLI to reach more people across the dental community and ensure that those in need could access sUPPOrt at the rlght tlme. Our financial position remains stronE thanks to the ¢ontlnued generosity of donors, supporters, Local Dental Committees, and partner organisations. Their support enables us to respond to increasing demand while maintaininE the long-term sustainability of the Charity. We rema1n extremely grateful to eveiyone who has contrlbuted ihrough donations. fundralslng activities, volunteerinÉi and advocacy. The year also Saw continued work to strengthen the Charity'5 6overnance and long-term resllience. We welcorlled Dr Tony jacob5 to the Board of Trustees and extend our sincere thanks lo Ms Hira Chaudhry nd Dr Menna 5hykhon for their valuable contributions during thelr time as Trustees. Progress was also made in resolvlng the hlstorlc Issue relatlng to the allocation of gains and losses between the expendable endowment and unrestricted reserve5, following extensive work with the Charity Commission, professional advlsers, and the ChaiiVs auditors. During the year, the Tru5tee5 developed a new strategy for 2026-2030. providing a clear framework for ihe Charity's future development. As we be&in to implement this strategy, we will continue to focus on expanding support for those most in need, strengthening partnerships across the profession, improving financial resilience, increasing awareness of the Charity, and ensuring our governance and operations remain effective and sustainable. Page 2
We would like to thank our staff, volunteers, trustees, partners, donors, and supporters for their continued commitment to the Charity. You¥ 8enertssity and dedication make a real difference to dentists. students. and their families during times of hardship. As we look ahead, we remain confident that, with the continued support of the profession, the BDA Benevolent Fund will continue to provide a vital safety net to those in need and make a meaningful differente to the lives of those we support. Dr shafaq Ali & Dr Molly Deykin Co- ChaSr's Page 3
Trustees All Trustees have served for a lull year unless stated Co-chairs Treasurer Dr Shafaq Ali and Dr Molly Deykin Dr Rlchard Hems Ms Hira Chaudhry (from 27106124 to 18103120251 Df Peter Crooks Dr Jacqueline Frederlck Dr Alexander Gormley Dr Tony Jacobs Ico-opted from 22101125, elected on 26105120251 Dr Derek Manson Dr Henrik Overgaard-Nielsen Dr Menna Shykhon (retired on 26105120251 Patron The Patron of the tharlty is the President of the British Dental Association IBDAI. This was Dr Rlchard Graham from May 2024- 2025, Dr Dave Cottarn from May 2025 - 2026 and Dr Callum Young50n MBE from May 2026- 2027. Vice Presidents Vice Presidents have an honorary role that is nominated in recognition of exceptional support to the charity. They are not member5 of the Board of Trustee5. Vice Presidents are put forward by the fjoard for election at an Annuèl General Meeting IAGMI and there is no term of office. We are continually grateful to our current Vice Presidents.. Dr Austin Banner, Dr Viorica Bergman, Dr Chri5 Hayward, Dr R05 Keeton, Dr William Nichols, Dr Mavis Phipps, Dr Ann Rockeyi Dr John Sandham, Dr Peter Swiss, Dr Sylvia Theaker, Prof Sir Nairn Wilson. Employees Finance and Operation5 Administrator Ipltl Chief Executive Grants Casevvorker Iplt Mrs. Faye Sèrlin Ms. Laura Hannon Mr5. Henrietta Davies-Dunn (from 18105120261 Page 4
Reference and administration details Registered address tlo A C Mole LLP Chartered Accountants and Statutory Auditors Stafford H¢Juse, 81ackbrook Park Avenue Taunton, Somerset. TAI 2PX Phone 0207 4864994 Accountarnt and auditors A C Mole LLP Chartered Accountants and Statutory Auditors Stafford House, Blackbrook Park Avenue Taunton, Somerset. TAI 2PX Bankers Co-operative Bank Business Customer Services PO Box 250, Skelmersdale, WN8 6WT Investment management Ifrom April 251 Quilter Cheviot Senator House, 85 Queen Victoria Street, London, EC4V 4AB Investment management luntil April 251 Investe¢ Wealth and Investment Ltd 2 Gresham Street, London, EC2V 7QN Charitable objects - who we support The object of the Charity is to give financial oi other help when practicable to sucli necessitous pefsons resident in the UK who in the opinion of the Board of Trustees may be deserving of 3sslstance and.. whose names are or have been on the Dentists Register of the UK,. or are students at UK dental schtsols.. or is Someone who was entitled to work IthroLJgh qualification. registration or equivalentl as i dentist in their home country and has asylum seeker or refugee status in the UK,. or ale dependents of those listed in lal- Icl and are also resident in the UK. Applicants do not need to be a rnember of thè British Dental Association IBDAI to access support. Public benefit The Trustees have consldered the Charlty Commlssion's guidance on public benefit, and charity law and believe the Charity meets the requirements of benefiting the public. and the prevention or relief of povertv. Page 5
The Charity assists predominantly through providing financial aid in the form of Brants, aiming to enable people to overcome their present difficulties. Grant support also allows people to continue their studies, return to work either within the dental profession or a sultable alternative workplace. The application process can involve a financial health check and signposting to other areas of support includin8 budÉeting, debt services, wellbein8 and mental health assistance. Charltable actlvltles Most of the support awarded is financial, given to indivlduals who requested assistance online via an appllcètion form. As no two situatlDns are the same the amount of as5151ance varie5. Help ofteT) bridges the gap between income and expenditure for a short time, usually three months. This will contrlbute towards essential personal expendliure for example, rent or mortgage, utillty bllls, and for food, travel, and general living expenses for the appllcant and their family. Funds can also be offered to manage one-off or unexpected expenditure. This can be for equipment Ifurniture, laptOP5, white good5 etc.) or for professional or work-related expenses. Examples are indemnity, the annual registration or retention fee IARFI, or continuing professional development such as exam fees or courses needed to Eel access to or remaln on the General Dental Council register. For asylum seekers or refugee dentlsts, aS515tance can be the same as dentist applicants who are already resisterod sn thc UK, i.e. h¢lp with csscntial livln6 Costs. There 15 a150 additional support avallable for exam fees S.e. the Overseas Registration Examlnatlon IOREI or License in Dental Surgery ILDSI to enable them to be registered and go on lo work a5 a dentist in the UK. Individua15 can a150 access wellbeing and mental health services through ou¥ partnership with Health Assured. Access is through an appi Portal and 2417 helpline and includes free wun5elling. The charity's website has some other useful Information including budget calculators, links to free debt advice and signp05ting to other 50urce5 of support. Whllst we will alw3ys help with the Immedlate problem, the Trustees believe there is value in taking a more proactive approach by offering educalional information and resources. In 2025, this included providing advice and signposting mana6ing finances, as well as support for dentists and those working in dental practices who have experienced, or been connected to, baby10sS. Achievements and performance during 2025 Durin8 2025. the Charity continued to focus on strengthÈning support for members of the dent31 profession, increasing awareness of the Charity's services. and ensu¥ing the organisation remained financially and opeiationally resillent. Progress against the priorities identified foi the year 15 Set oul below. Page 6
Nts. Activity Expanding support for refugee and sylum seeker dentlsts The Charity continued to explore way5 to expand support for refugee and asylum seeker dentists, partlcularly In relatlon to retrainlnE pathways and flnanclal assistance. Discu55ions and partnership working with or@anlsations across the dental and charltable sectors helped Improve understandlng of the challenges faced by internationally trained dent15tS 5eekinE to enter Dr return lo the profession. A new web page was developed, and application form was created io ensure bespoke, relevant 5UPPOrt. This led to an increase In applications. The Charity continued to develop and promote financial wellbeing resources aimed at dental students and dentists. Free budgeting tools and signposting to debt advlce servlces remained vailable through the Charit¢s website, while financial health checks conilnued to form part of the appllcation process for those seeking financial assistance. Support remained tailored to individual circiJmst3nc.e%. wilh the aim of encoijraging long- term financial independence wherever possible. The Charity continued to strellgthen relationships with Local Dental Committees ILDCS), the British Dental Association IBDAI, BDA branches, Eroups and sections. dental schools and other professional organisations. These partnerships supported greater awareness of the Charity's services, encouraged fundraising activity and helped promoie earlier access to Support for students and members of the profession in need. Partnership working with the Dentists, Health Support Trust IDHSTI also contined throughout the year. The Board continued to review financial performance, forecasts alld grant expenditure throughout the year to Support the Charity's long- term sustainability. Regular investment reviews and updates were received from the Investment Manager, while communications and engagement activities with the dental communily continued in support of fundraising and awareness objectives. Expanding support for dental students nd dentists thiough financial planning reseurces Strengthening partnerships across the profe55ion Diversifying income streams and Strengthening long-teim resilience Page 7
The Charity also tontinued to explore opportunities to diversify income through corporate support, individual giving and other fundraisin initiatives. Work continued durlng the year to develop the Charity's Ambassadors Scheme and strengthen eibgd&ErriEiIL WILII suppurter5 arro55 ihe UK. The Charity currently has five Ambassadors and aims to expand this network further over ihe coming years. The charity remains committed to buildinB a wider network of advocates to help increase awareness of the 5UPPOrt available within the denlal profession. The Charity continued to revlew its governance arrangements, policies and operational procedure5 against the Charity Governance Code. Governance mappinE and policy reviews were undertaken during the year, wlth updates implemented where appropriate to support the Charlty In becomlng a more efficlont, effective and inclusive oiganlsatlon. Consideration of incorporation was %tarted in Septemher 2025 anfl Agrppf4 as a strategic aim at ihe Strategy Day in Novembe 2025. The Charity continued its partnership with Health Assured, providlng applicants and their familie5 with access to confldential wellbeing support, counselling services, a 24-hour helpline, online resources and a mobile application. The Wellbeing Support for the Dentll Temm rcsources also continued to be promoted throughout the year with over 1000 downloads. Work continued during the year to address the allocation of Bains and losses between expendable endowments and unrestricted reserves. The Charity worked with its professional advisers to ensure appropriate treatment and reporting within the financial statement5. They were 3pproved at the B03rd meeting in March 2025 and reed at the AGM in June 2025. The Trustees developed the Charit¢s strategy for 2026 - 2030 at the Strategy Day in November 2025. They considered emerging needs within the Developing the Ambassadors Scheme Strengthenlng governance and operational effectiveness Provldlng accesslble wellbeing and mental health support Re.solvin8 the allocation of Bains and lossos botween expendable endowments and unrestricted reserves Developing the 2026 strategv Page 8
profe5510rh, opportunities to Strengthen support services. and the long-term sustainability of the organisation. The Trustees believe these activities continue to Support the Charity's obj@ttives by providinB practical assistance, promoting financial resiliènce. improvirng wellbein& and ensuring the Charity remains sustainable and well goverr)Èd for the future. Charitable support During 2025, the Charity awarded £270,163 in grants12024= £181,350). A total of 221 applications were received during the year, cownpared with 200 in 2024, includin8 131 new applicant$12024.. 1301. As part of the application process. applicants are asked to identify the maln reason for their request for SLJpport. This information helps the Charity monitor trends arnd better understand the challenges affecting applicants. In 2025. the three most identified re350ns for applying were- Support with retraining- 43 applications120%1 Cash flow or money management difficultie5- 38 applicatlon$117%1 Other reasons- 37 applications117%1 Cash flow and money management difficulties have consistently featured amongst the most common reasons for applications over the pa.sl five years. The other leading eategories have varied over tirne, reflectinE Changing applrcant circLJmSt3nces 3nd wider sector trends. For example. involvement with the General Dental Council IGOCI featured prominently in 2023. physital ill health in 2022. and debt- related concerns in 2021. The increase in applicaiions relating to retiaining and categorised as "other" in 2025 reflects the rowing number of asylum SEeker ènd refuRee dentists becoming aware of, and applying for, the Ch3rity's support. The average age of new appllcaFlts has remained conslstent at 3 1 over the past five years, with application5 received from individuals aged between 19 and 60 during 2025. Financially supported vs unsupported applications Not all applicatitsns received result in financial assistance being awarded. During 2025, 55% of applicants received Pinancial support, compared with 45% who did not. This repre5erts an increase in supported applicatitsns compared with 2024, when the proportion was evenly split at 50% supported and 50% unsupported. Applicatiorns may not proceed to financial support lor a variety of reasons. These include applicants not meeting the Charity's eligibility criteria, for example where individuals are not dentists, asylum seeker P8*9
or refu8ee dentists, dental students, depend3nts, or residents of the UK. In other cases, applicants mav not be experiencing financial hardship at the tirne of applying due to thèir income or savings, may not provide the required inforrnation or evidence, or the information Submitted may not be verified as genuine. The Charity operates four separate application pathways for dentists, dental students, dependant5, and refugee dentist$, with applicants directed to the appfopiiale lorr)) lollowiwig iurnpletion of a pre- eligibility assessmEnt. During 2025, the pre-eligibility process was reviewed and updated to Improve tlarity and accessibility for applicants. This has contributed to a reduction in financially unsupported requests. Regardless of whether financial assistanee is awarded, all applicants can access wellbeing advice, resources, and counselling support. Applicants are also frequently signposted to other relevant organisations, services, and sourtes of information to help address their individual circumstances. Nearly 1,000 dental professionals accessed the Wellbeing Supportfor Defttol Team5 Buide during the year, demonstrating continued demand for wellbeing information and support resources. Marketing Ralslng awareness of the Charlty and the support avallable remains an Important part of Its work. Meetlngs, conferences, and events provide valuable opportunities to engaee with the dental communitv. encouraRe local fundraisin& and ensure that Indlviduals in need are awar@ of how to access support. Personal recommendation and professional networks continue to play an important role in helping individuals become aware of the Charity and access supptrrt at an early stage. During 2025. the Chariiy also attended several key professional events, including exhibiting at the BIDA Dental Showcase in March 2025 and the British Dental Conference & Dentistry Show in May 2025. These event5 provided valuable opportunities to engage directly wlth members of the dental profession, raise awareness of the Charitvs work, and encourage Individuals to slgn up to recelve future updates and communlcations. The Charity maintains an active online presence through its website and social medla platforms, including Facebook, Instagram, Linkedln, and YouTube. These channels provide accessible information about the ChafitV5 services and enable individuals to contact the organisatlon for Support and guidance. Digital communicatlons are further supported ihrough regular newsletters distributed both to the CharitV'S SLlPPOrters and to BDA members through the British Dental Associatlon's communicatiori 5VStem5. The Charity sent more than 137,000 emails sharing informatlon, resources, and support opportunlties to its Members and supporters. Social media engagement achieved its strongest growth to date, with overall growth of 19% during the year. Across 769 posts, the Charity achieved 156,57a impressions, representlng an increase of 342%, together with 8,142 engagerrents, an increase of 122% compared with the previous year. Page 10
Website visits increased by 38%, exceeding the previous yearfs increase of 27%, reflectin8 growin8 awareness of the Charity 2nd its services. During 2025, the Charity shared seven new personal stories highlighting experiences of hardship, resilience, and recovery within the dental community. These included Lisa's experience of rebuilding her life following bereavement, Caitlin's journey through cancer treatment during dental school, and Alaia's retraining journey a5 she beEan a new chapter in the UK. Sharing these stories helps raise awareness of the challenges faced by members of the profe55ion and dErTiuf15traLes tlie iiiipact ch311t3ble support can have on individuals and their families. Those marketing and engagement activities continue to support the CharitV5 objectives by increasing awareness. ofttouraging ongagement with support services, and strengthening connections across the dental profession. Fundraising The Charity undertakes fundraising activity through engagement with Local Dental Committees ILDCSI, supporters, donors, members of the dental professlon and other stakeholders. Fundraising activities during the year included volunt3ry donations, sponsored activity, events and awareness camp3igns. The Charity does nDt employ professlonal fundraisers or commercial participators. The Trustees are mindful of the need to ensure fundraising attivity is transparent, respectful and appiopriate, and the Charity %eek% ta prr>tect vulnerable individuals from undue pressure or intrusive lundraisinE practices. No complaints relating to fundraising activities were received during the year. Governance and administratlon During the year, the Charity undertook governance and operatlonal reviews in support of the development of its 202fr2030 Strategy, including considerailon of future incoTrrporation arrangements and operational resilience. The Charity left 64 Wimpole Stieet in April 2025 after the BDA gave notice tsn the buildinE. The Charily is grateful to be able to use the address and support of the auditors a5 the new registered office address, which is clo A C Mole LLP. Stalford House, Blackbrook. Park Avenue, Taunton, T Al 2PX. Strategic priorities 2026 - 2030 During the year, the Tru51ees developed a new five-year strategy to guide the Charity's work between 2026 and 2030. The strategy focuse5 on strern8thening awareness of the Charity, improving acce55ibility to support, enhancing operational rèsiliènce and ensuring the lon8-term 5U5tainability of the organisation. Page11
The Chariws key strategic priorities for 2022030 arè.. Raising awarene55 of the Charily across the dental profession through stronger engagement with dethtal organisations, dental schools, Local Dental Commlttees ILDCS), employers and other stakeholders. Improving accessibility to support by reviewing and streamlining application processes and reducing barriers for individuals seeking a5515tance. Increasing engagement with undeirepre5ented and underserved groups within the dental profe55iorh, including refugee arnd asylum seeker dentists. Developin8 Stronger partnerships, arnba55ador networks and volunteer engagement to increase advocacy, outreach and regional representatlDn across the UK. Progressing the forrnal incorporation of the Charity to strengthen governance arrangemènts, operational resilience and future growth opptsrtunities. Strengthening the Charity's wellbeing and financial capabllity support through accessible resources, signposting and preventative initiatives. Oiversifyin8 income streams through fundraisin& sponsorship* Erant funding and individual giving to SUPPOrt long-term financial sustainability. Continuing to strengthen governance, policy development and operational effectlveness In line with best practice and the Charity Governance Code. Exploring opportunitles to improve the Charity's use of technDlogy and digltal systems to support service delivèry, operational efficiency and data Management. Financial review Following the appointment of A C Mole LLP as auditor5 in January 2024, a historic issue was identified relating to the allocation of investment gains and losses between the endowment and unrestricted funds in previous years, resulting in a qualification of the 2023 accounts. Durin8 2025, the Trustees and staff continued to work closely with the auditors, solicitors, and the Charity Commission to resolve the Matter. Following this review, the Trustees formally considered and agreed the appropriate treatment and position of the funds as at 2021. being the point at whith the error origlnated. This was unanimou51y approved by the 8oard of Trustees on 18 March 2025. Approximztely 50% of the chaTity's income is derived from voluntary sources made up of contributlons from LDCS, indlvlduals giving, collectionsl events organised through BDA branches 2nd section5 meeilngs and leEacies. The remaining income Is also received from the dividends from the Charit¢5 investments. The Trustees remain extremely grateful for the continued financial SUPPDrt received from the dental community, particularly Local Dental Committees, receiving £114,576 in 2025 from LDCS across the UK 1£118,928 in 20241. A breakdown of LDC contributions is detailed on pages 29- 30 for transparency as well as acknowledging our supporters individually. Page 12
The Trustees have reviewed the Charity's financial posltion, reserves and forecasts and are satisfied that the Charity remains a going concern. Reserves policy The Reserves Policy Is reviewed annually and monitored regularly in consideration of the Charity's income, expenditure and strategic plans. The Charity has unre$tried funds of £1,201,476, of which £1,200,939 represent free reserves, being funds that are not tied up in fixed assets or otlierwise designated. Of these unrestricted funds, £1,098,519 relate5 to investments held to generate income nd support the long-term sustainability of the Charity. In addition to the unrestricted fund5, the Charity hDlds expendable endowment funds of £6.570,065. The BDA Benevolent Fund has been supporting members of the dental profession since 1883, and the contlnuln8 demand for 2SSlStance demonstrate5 that the Charit5 support remains both ielevant and necessary. The Trustees therefore tonsider it inappropriate to slgiiificantly reduce the investmenl portfolio, as maintain ing these funds helps ensure the Charity can continue providing support to both current and future beneficiaries. The level of free reserves enables the Charity to meet ils ongolng charllable objectives, maintain continulty of support for beneficiaries, respond to unexpected demand and provide financial stability during periods of uncertainty. Tlie Cliarlty cuirently liold5 free ieserve5 iii exce55 of 12 nionth5' e¥penditure. The Trustees consider this level to be appropriate given the unpredictable nature of demand for 2sS15tance, the need to maintain financial resilience, the importance of safeguarding long-term service provision and the Charity'5 reliance on investment income and voluntary contrsbution5 tQ 5UPPOrt it5 aclivitie5. Investment policy and objectives The Charity's investments have been managed on its behalf bv Quilter Cheviot since April 2025. Prior to thls, the portfollo was managed by Investec Wealth & Investment Limited. part of the Raihbolles Group. The primary objective of the investment portfolio is to provide a stable and sustainable income stream to supplement the Charitvs voluntary income. whilst maintèining the long-term real value of the investments after adjusting for inflation. This approach enables the Charity to meet current demand for assistance while retainin£ sufficient resources to support future generations of beneficiarie5. The Charity'5 investment objectives are.. to generate siifficient financial returns to ernable the Charity to carry out Its purposes effectively and without interruption,- to maintain, and where possible enhance. the value of the investment portfolio over the long term,. and Page 13
to maintain an appropriate balance between capital growth and income generation in order to support both current and future beneficiaries. The investment portfolio is managed across a diversified range of asset classes, including equities, fixed interest investments and cash or monetary assets, in line with the Charity's return objectives and risk tolerance. The lon8-term investment target is to achieve returns of CPI plus 4% per annum, net of fees. The Trustees conssder a reasonable level of capital volatility to be acceptable in 5UPPOrt of the Charit¢s long-term objertlves, whilst malntaining an over211 medium-risk investment proflle. The Charity applies ethical restrictions to its investments and does not invest in tobacco-relaied holdings, reflecting both the Charitvs values 2nd the interests of the dental profession. EnvSronmental. social and governance IESGI considerations also form part of the investment approach, with the Investment Manager expected to take ESG factors into account within investment analysis and detision-making processes. The Trustees receive regular investment reporting throuBhout the year, and the Investment Manager attends Board meetings at least twice annually to review investment performance, strategy and portfollo positioning. Structurei governance, and management The BDA Benevolent Fund I'the Charity") is an unincoTporated charitable association registered with the Charity Commission for En8land and Wales (Charlty No. 2081461. The Charity is governed by its Rules. Amendments to the Rules were approved by the Members at the Annu31 General Meeting held on 4 July 2023. Prior to this, the Rules were last updated in June 2019. The Board of Truslees meets quarterly and is responsible for providing slrateEic leadershipi overseein8 the Charity's performance and ensuring that appropfiate governance, financial arbd operational contro15 are in place. The Trustees are also responsible for overseeinE the work of the Charity's two members of staff. To support effectlve governance and oversight, the Trustees operate through three subgroups overing.. Finance and Governance,. Marketing and Fundraisin81 and Grant-making activitie5. Each subgroup meets between Board meetings and report5 back to the full Board with retommendations to *upport colleclive discussion and decision.making by the Trustees. Trustee recruitment, selection and election Trustees are elected for a term of three years and may stand for re-election by the Members at the Annual General Meeting IAGhal. Officers are appointed by the Board for a maximum term of slx years. This structure supports continuity within the Charity while also enablin2 regular renewal of skills, Page 14
experience and perspttiveS within the Board. As Trustees approach the ènd of their term of offite, they may choose either to seek re-election or to retire. Prior to any recruitment process. the Board reviews the existing skills, knowledge. experience and diversity of the TmsteE body to identify any gaps and inform the recruitment process. I rustee vacancie5 are advertised through the Charity'5 website, newsletters and social media channels. Individuals interested tn becoming Trustees are required to self-nominate by submitting a CV and 5upyurtiri¥ stateiriEwit fur iun5idErotiun aalISt the role de5oriptiuii awitl the rieed5 Of tlie Cliarity. F¢llowing a pre-sele¢tion pio¢ess undertaken by the Board, suitable ¢andid)tos are proposed for election by the Members at the AGM. The Charity is commilted to supporting equality, diversity and inclusion in line with its EDI PoSicy and reco8nises the impoitance of ensuring the Board reflects the diversity of the dental profession and wider society. The Trustees acknowledEed that the composition of the Board had historically lacked diversity and have continued to take steps to address this through recent recruitment processes. In recent Trustee recruitment campaigns, applicalion5 have been particularly enctsuraged from individuals who are underrepresented on the 803rd In terms of background, ski115, experience or geographlcal locatlon. These efforts have helped improve the dlversiiv and representailon of the Trustee body and strengthen the range of per5pe¢tives contributing to the Charittys governance and decision-making. The Charity began collecting diversity data relating to the Board in April 2024 to monitor progress and inforrn future recruitment activity. The Trustees consider that positive progre55 has been made in improving dtversity and representation, although further work remains ongoing. Trustee induction and training New Trustee5 receive an induction pack and meet with the Chief Executive to Bain an understanding of the Charity's activities, governance arrangewnent5 and responsibilities. Trustees are also supported th rough ongolng tfalning and updates to ensure they remèln aware of relevant legal, regulatory and governance developments. All Truslees are required to sign a Code of Conduct and declare any relevant interesls. A register of interests is mainlained and reviewed regularly. Trustees withdraw frorn d15cussions and deci5ion- making where an actual or potent131 conflict of interest ari5e5, Wlth this recorded in the meeting minutes. Advisory Council An Advi50ry Council was established in 2020 to help foster relationships and gather feedback from indivlduals and representatives across the dental profession, some of whom may become prospective Trustee5. The Charity convenes Advisory Council meetings as required, wlth a maximum of two meetings per year. Page 15
Thè inaugural meetinB took place virtually on 14 November 2020, with 513ttendees. No meetings were held during 2022. Thc third meetin& held virtually on 4 February 2023. focused on expandin8 the Charity's remit to include support for asylum seeker and refugee dentists. No Advi50ry Council meetings were held during 2024 or 2025. The Trustees intend to reconvene the Advisory Council during 2026 as part of the Charit¢s wider stralegic focus on stakeholder engagement, partnershlp development and settor collaboration. Membership Members form an important part of the CharitWs governance structure, providing oversight and exercislng voting rights at the Annual GeNeral Meeting IAGMI and any Extraordinary General Meetings IEGMS). Members are also responsible for electing the Board of Trustees, who oversee the Charity on their behalf. The Charity has three categories of membership-. Trustees- Partnership Members, Including supporters, Vice-Pre5idents, donors, and current or former beneficiaries,. and BDA members who automatically become members of the Charity upon jr)ining the British Dental Assotiation. Therels no fee to become a Partnershlp Member of the Charity. Individuals inierested In becoming a member are encouraged to ¢ontact the Charity for further information. Remuneration pollcy Staff remuneratlon 15 reviewed annually by the Co-chairs and Treasurer, wlth appropriate benchmarkin8 information used to inform salary decisions and ensure pay remalns falr and proportionate to the responsibilities of each role. The Charity has three staff members las of 18 May 20261. During the year, one member of staff, the Chief Executive, received remuneration of more than £60,000 per annum. Risk management The Trustees regularly review the major risks that could affect the Charity, its reputation or its continiied oper3tion_ A formal risk asse55ment is undertaken at least annu3llyi incorporating the identification, evaluation and monitoring of key risks toðer with the controls and assurances in place to mitigate them. Pollcies and procedures are also reviewed regularly to support effective governance and operatlonal resilience. The Charity maintains safeguardin& confidentlality and data protectlon procedures approprlate to the nature of Its work and the individuals it supports. Page 16
During the year, the Charity identified a small number ol fraudulent applications for support whith resulted in a financial loss of £9,420 to the Charity. The malter was reported to Ffaud Report 2nd to the Charity Commission through the Serious Incident Reporiing prtscess in early 2026. Followins this, the Trustee5 reviewed the Charity's application and verification procedures and implemenied additional due diligence and control measures to strengthen processes and reduce the risk of similar incidents occurring in future. The Co-chairs oversee staff management arrangements, and key operational processes and Contarts are documented to support business continuity in the event of an emergÈncy or staff incapacity. The Charity obtains profe55ional advice where appropriate. particularly in relation to legal, financial nd communications matters. Trustees and staff also undertake relevant training to ensure they remain aware of current legislation, regulatory requirements and best practice, Legal and regulatory updates are considered regularly by the Board as part of it5 governance oversight responsibilities. Page 17
Statement of Trustees, Responsibllltles The trustees are responsible for preparing the Trustees, Report and the flnanclal statements In accordance with applicable law and United Kingdom Accountln8 5tandard5 including Flnanclal Reportin8 5tandaTd 102: The Financial Reporting Standard appllcable In the UK and Republlc of Ireland Iunlted Kingdom Generally Accepted Acoounting Pra¢ticel. The law appllcable to charities in England & Wales requlres the trustees to prepare financSal statements for each financlal year whlch give a true and fair view of the slate of affairs of the charity and of the income and expenditure of the charity for that period. In preparlng these flnanclal statements, the trustees are requlred to.. select sultable accountlng pollcies and then apptythem conslstentty; obsorve the methods and principle5 in the Charlties SORP; make Judgments and accountln8 estlrnate5 that ?re reasonable and prudent,, state whethef appllcable accountlng standards have been followed, subject to any material deparlures dlsclosed and explained in the financial statements, and prepare the financlal statements on the golng concern basls unless It Is Inapproprlate to presume that the charltywlll cont4nue in business. The trustees are re5pon5ible for maintaining proper accountlng records whlch dlsclosè wlth reasonable accuracy at any time the financial position of the charliy and enable them to ensure that the finandal SIBtefflents comply with the Charities Act 2011, the Charity (Accounts 4nfJ Reports) Re8ulatlons 20U8 and the provisions of thè trust de/cONStitUtion. Thèy a also responsible for safeguardSn8 the assets of the charlty and hence for taklng reasonable step5 for the prevention and detectlon of fraud and other irregularltles. Approved by the Board of TTUStees on 11 lob I IL and slgned on It$ behalf by: Dr Molly Deykln, Co-chalr r Richard Hems, Treasurer Page18
Britlsh Dental Association Bon8vol8nt Fund Indeptrndgnt Audltor's Report to the Mornbèr$ of 8rilish Dental Association Bongvol8nt Fund Oplnlon We hav8 audited the financial slalements ol 8rilish Den181 A$8ixiation Benevolent Fund Ilhe'¢harity) for the year ended 31 OeGetnber 2025, which comprise the Slaternenl of Financtal Activilkps. Balance Sheet. and Ntstes to th& Financial Stalements. including a summary of signlflcanl 2CGounllng polides. The financial reporting framework that has been applied in their preparation is United Kingdom AGGounting Standard5. comprising Charities SORP - FRS 102 'The Financial Reporting Slandard applicable in the UK and Repubk of Ireland and applicable 12w (United lfjngdom Generally Acceptèd Aecounling PraclKel. In our C>pinlon the finanual $lalemenls'. give a true and fair view of the slate of the charity'5 affairs as al 31 December 2025 and of ils incoming resources and application of resources, includin9 tis in¢ome and expenditure. for the year then ended", have been propety prepared in accordance vrilh United Kingdom Generally Accepted Accounting Pra¢tice', an($ have been prepa in 8¢¢ordan¢e wlh the ¢equirement5 of the Chafilies Act 2011. Bag19 for oplnlon We conducted our audit In accordance bmlh InlÈrnalional Standards on Audiling IUKI IISA5 IUKII and applicable law. Our re5ponsibililies under those slandards are lurther described in the auditor re5PQn5ibi1ilies for the audit of the financial slalemellts seGlion of our report. We afe independent of the charity in accordance Mrith Ihe Élhical requirements Ihal are relevant lo our >uclil of the finanGial 8lalements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other elhital respon5ibililies in accordance with these requirernen15. We believe that the audit evidence we have Dblained 1$ Sufflent and appropriatÈ lo provide a basis for our opinion. Concluslons r•latlng to golng concom In audtling the financial slalem8nts, we have cencluded that Ihe trustees use of Iha going concorn basis of accounting in the preparation of Ihe financial slatement5 is appropriate. Baspd on the work we have performed. we h8ve nol idenlifipd atly material uncertainties relating lo 8venl$ or conditions Ihal, individually or collectively. may ca81 signific8nl doubl on the ch8rily s ability to continue as a going concern lor a period of al least twelve months from when the original financial $latetnen15 were aulhorised for issue. Our reswnsibililies and the responsiblilies of the trustee$ wilh respect t¢ goin9 concem are described in the relevant seelion$ of this report. Olher informatio The IrLislees are responsible fDr Ihe Dlher infomation. The oth8r inforrnalion comprises the informalion included in the annual report, other than Ihe financial slatemenls and our auditor's report thereon. Our opinion en the financk41 siaiemenl$ does not cover the other informaiion and, except lo the exlenl olherwse &xplicilly slated in our report, we do not express any form of assurance concllision Ihereon. In Conn110 wlh our 3udil of the financial slalemenls. our re5ponsibilily is to reaij the other lfOrMall0 and. In doing 50. COll51der whether the olhEr information Is materially incon5151ent wilh the lin£ncial slalenienls oc Our kiiowled9¢ oblaiil¥d I'.1 Lhe aodil or olh¢cwS¢ épyeais lo b¢ Iiial¢iiolly misslaled. If we ideDlify such maleiial incon51step.cies or apparenl malerial rnisslalemenls, we are required lo determine whether there is a maierial misst3iernent in the finaricial staiemenls or a m21eii81 misslatempnl of the other InfDimalion. 11, based fjn the vwgrk we hHve perforD)ed, we GgnGlutle that there 15 a material misslalerllenl ol this other Info¥nialion. are required lo repori that fact. Page 19
British Dental Assoclatlon B¢ngvvl•nt Fund Indgpondant Audltorf¥ Rgport tD tho Mornbor5 of Brltish Dentsl Association 8&n8vol6nt Fund Icontsnu•d} We have nolhin9 lo report IN this regard. Mattgrn on whlch wo arè r9quirgd to report by oxceptlon In the Ilght of our kno%trledge and understanding of the chlty and it8 environment obtained In the course of the audit, we have not identified material mi$ststement5 In the Trustees. Report. We have nothing to r¢port in resped of the fdK)wn9 matter$ hvhere the Charitie5 (Accounts and Reportl Regulati$ 2008 requi5 u5 lo report lo you if. in our opinion.. adequale a¢oounling r•¢ords have not been k8pI, or returns adequate for our a1 have not been received from branthes not wsiled by us." or the financial st8tement8 are nDI in ageMent wth the aceounting recorés and returns., or cemain dlsclosures of trustees remuneration specihèd by law are not made., or wo hav• not received all the information and explanations reqLtire for our audil. Respon$lbllltlo$ of tWU8109$ As explalned rnore fvlly in the Slalement of Trustees. Responslbililies (set ¢L# on page 17 and 171, the trustees are responsible lor the preparation of the fin8nclal siatements and for being satisfied that t*ey glve a true and fair view, and for such intemal ¢onlr¢l as the trLlSlees delemiine is nece$88ry 10 erbable the preparation of financial slatemenls Ihat are free from material mis$ialemeni, whethèr du to frau¢J or error. In preparing the financial statements, the Irusloos are Spon$Fble for a$$essing the charills 8bltY to ¢onlinue a$ a going ¢on¢em, di$¢losivg. as applicable, malters relaied to going con¢ern and using the glxng concern basis of counting unless Ihe tnislees ?rther intend to Iiquidatg the chafity oi to cease Oporalions. or havo no r8ali$lic allgiThplive but tv 50. Auditor R05pon$lbllltlo¥ lor the Jvdit ol th¢ financial gtat¢mgnts Our objectives are to obtain reasonaNe assurance obout whether the finarlcial statements as a whole are free from material misstatement. vthelher due lo frau¢5 or error, and to Issue an auditor's repart that In¢lude$ our opinion. Reasonable a$suran¢e is a high level of assurance. bt Is not a guarantee that an audit conducted in actordance with ISAS IUKI %%il1 ayS detect a material mlsslalem2nt en il exists. Misstatements can arise from fraud or errv and are ¢onsidered m8lerial il, individually or in thè aggregate, they could reasonably be expe¢led lo innuen¢e the e¢onomic decisien5 01 users taken on the basis of these financial statements. The exlenl lo %%l)ich OLtr procedures are capable of deteeling IgularItIeS, IrKluding fiauil 15 detailed below.. Idenllfylng and a$se$stng p¢tenllal risk$ of material misslalernenl due lo iegUlaritieS We considered the following when identifying and assesslng risks ol material ml$slalement due i Irregularittes, including fraud and non.cempliance wlh laws and regulations.. the lega1 and regulatory framework in which the chaNty operates the Sector in the charity DP8rates the Control environment and conlrols established to mitipète such risks the results ol ¢ur ertquiriès Of management about their idenlifitalion and a$$es$ment of ri$k$ of dls¢ussion$ wilh the audit engagement team about where Iraud Might occur the inconlives for fraud. Page 20
British Dental Association Benovolent Fund Indepgndent Audrtorfs Report to the Mgmb8rs of 8Tltish Dentsl A$$oGiatlon Bongvtsl8nt Fund Icontinuedl La and regulations vihich are considered lo be si9nificanl to the charity Include those relaling lo the requiremenls of financial repotyng framework FRS102, the Charities A¢1 2011. UK lax legislation, employment law and health safely. In addition, we Gonsider other laws and regulation which may not direcuy Impact the financial slalements bul may Impact on Ihe operation of the charity. As a result of these procedures we concluded. in accordance wth Internation81 Auditing Standards. that a risk in relation lo the potential for management oveiride of Gontrols existed. Audit responses to risks identified We undertook audit procedures lo rÈspond lo the risks identified. 2nd designed our audit lesling lo respond lo these risks. The additional procedures we undertook included the follolg. gaining an understanding of the charity's procedures for ensuring compliance wilh laws and fegulalions lesling the appropri)lenes$ of journal entries and Other adiuslmenl$ considering vA)elh&r accounting Èslimales were indicabve of potential bias con51d8ring vknelher any transactions arose outside Ihe normal course of business moking enquirie$ of management corroborating our enquiries through feview of Board MinL*tes and correspondence. We Hlso Gommunicaled relevant laws and regulations potential fraud risk$ to all engagÈn)enl team m&mbers and remained alert to any indicators of fraud or non-compliance with law5 and fegulalions throughout the audit. A further description of our responsibilities is available on the linan¢lal Fieportlng Councll's webslte al.. frc org iiklaudilorsresponsibililies. This description forms part ol our auditor's report. U58 of our report Th15 reporf iq made solely lo Ihe Charity IrLislees, as a body. In accordance with Part 4 of the Charities IA¢¢ounls and Reports) Re9ulalion$ 2008. Our audit Wofk has been undertaken so that we might state lo the Iruslees Ihose n1811ers we are required lo slate lo trustees in an auditors, report and for i)0 other purpose. To the fulle51 extent permilled by law. we do nol accept or assume respons1bilily lo anyone olher Ihan the charity and it$ tru51ees a5 a botly. for our audit work. for this report, or for th& opinions we have formed. LLP A C Mole LLP. Statutory Auditor Slafford House Bla¢kbr¢>ok Park Avenue Taunton Somerset TA1 2PX Dale".. A C Mole LLP Is elioible for appointment as auditor of the charity by wrtue of ils eligibility for appoinlmenl as auditor of a company und&r section 1212 of the Companies Acl 2006. Page 21
Brltbsh Dental As$oclation B•n•volènt Fund stat•m•nt of Flnan¢lal Activities for the Year Ended 31 Docgmber 2025 Unrestricted EndovM•nt furKIs funds Total 2025 Note Incorno Donations and legaeies Inv$$tm8nt income 235,380 164,324 235,380 164,324 Total in¢ome 399 704 399.704 Expendllur Rai5in9 lund$ Charltable activities- grants payable Support and governanc8 cost8 Other expenditure Non-charilable expenditure 14,5341 1270,1631 (187,7371 11501 9.420 128.9311 133.4851 1270,1631 1167,7371 18821 9,420 Totsl expenditure Gains on ifftveslment ass•ls 1452.QNI 74.$4Q 129,7931 429,407 1481.7971 503,947 Nd income 22,240 399.614 421,854 N81 mov8m•nt in funds 22.240 399,614 421,854 Reconciliation of fund¥ To181 funds brou9ht fprward Total funds carried forward 1,179,236 6.170.451 7,349,687 15 1.201.476 6.570.Q65 7,771,541 Unrostrictéd fvnd$ Endovlmont funds Total 2024 Note Ineome Donations £nd legade8 Investment intome 189,145 188,119 189,145 188,119 Total income 377.264 37T.264 Exp8ndlturg Raisin9 fund$ Charitable activitie5 sranls payable Support and governance costs 15.3391 1181,3501 168,038 133,0711 138,4101 1181.3501 168,038 Total expenditure Gain5 on investment assets 1354,7271 51,583 133,0711 297.15Q 1387,7981 348.733 Net Intome 74,120 284,079 338.199 Net movement in funLIs 74,120 284,Q79 338.199 R8conciiiation olfunds rolal funds broughl foThvard Total thnds tarr*cl forward 1.105,116 5,906.372 7,011,488 15 1,179,236 6.170.451 7 349,667 The not&s on pages 24 to 38 form p2rt tsf IhÈse flnancial 5talemenls. Page 22
8th Dentsl As8oclattan Benev(Jlw)t Fund (Regtgtraiion numhr. 2081481 BalanEe Sheet a¥ et 31 DKmb•r 2025 2025 2024 Flxed ass9 Tanglble a$$ots Inveslments 537 7 675,294 7675 831 895 7.316.288 7,317,183 12 D•blor$ Cash al bank and In hand 13 63.099 74.275 137,374 41.664 11.754 60,347 72,101 39,S97 CRdltor•,' Amounis f4111ng dua wlthln on y¥ar Net ¢urronl u80ts Nètmssets 14 95,710 7 771 $41 32,504 7,349 687 Pund8 of tho charfty: Endownent fund• Unr¢$Irtct IndS 8,570.1x5 1201476 6,170,461 1,179,238 7.349.687 Total lund$ 15 7,77t,541 The sldemen15 on pagÈ$ 22 10 38 were approv8d by the tsustees. ar authorised for Is$u& onj bl1&.. and $vJned on th6lr bohaif by.. Dr Chairmo Dr olty Deykln Chairman The 188 on pages 24 to 38 lortn part of Ihe80 financlal 8tstemenl¥. Page 23
British Derrtal Association Bertwolont Fund lot05 to the Financial Slatwn8nts for the Year Ended 31 0ecgmb•r 2026 1 Accounting polt¢l85 Stat•m8nl of compllanco and bas56 of preparatlon The financial sl&temenls h8ve been prepared under the historical cost convention wlh items recognised at cost or transaction value unle&s Stat otherlSe wthin Ihese notes. The financtal $tatemenls have been prepared In accordance wrth Acccuntin9 and Rpportill9 by Charities. Statement of Recommended Practice appIable to charities preparing their accounts in accordance wrth Ihe Financial Reportsng Stanéard applicable In the UK and RepLfblic of Ireland IFRS 1021 (issued October 20191 . (Charities SORP IFRS 10211, the Financial Ren5 Slandaid applicable in the United Kingdom Republic of Ireland IFRS1021. and the chareS Acl 2011. British Oental Association Benevolent Fund meets the definition of a public benefrt entity undei FRS 102. The presentation cuirency of Ihe financial slalements is the Pound Sterling 1£) rounded to the nearest pound. Gclng ¢on¢ern As part of the trustee's assessment of going concern, they have wepared cash fiow projeclions.The prole¢tion6 have boen prepared on an approprlate basls. taking into account the currgnl economic conditions that exist. After making apwopriate enouliies. the trv$lee$ have 8$¢nable expe¢laÉlM that the charity has adequate re50urc&s lo enable to il to continue in operational existence lor the foreseeable fvture. The trustees therefore believe that the going concern ba51S Is still appropriate and have prepared Ihe aG¢ounls on going wllcern basis. Incomè All in¢¢me 1$ re9$¢ when the ¢harily has enlillement to the irn¢ome, rt 1$ probabk that the in¢ome wll be received ancs the amounl can be measured hmth $ulfieienl reliability. Donatlons and1•gacl•$ Donations and legacies are recognised orn a receivab basis when re¢elpt 1$ probable and Ihe amounl can be reliably measured. Investment income Inveslmenl income is accounted for on an a¢cruals ba&is. Exponditurfr All expenditure is recognlsed once there is a legal or conslruclive obllgalion to thal expendrture. tt l# probable settlement is required and the amouTht can be rnea5ured reliably. Al costs are allocated to the appliGable expenditure heading th31 aggregale similar ¢osts Its that calegory. Where ctssis cannol be difiiy #tiribuled lo p>rti¢ul¥r headings they have beert allo¢¥ted on a ba$is ton$isl*nl wlh Lise of resour¢e$. with central staff costs allocated on the basis of lime Spent, and depre¢iation charge5 allocated on the portion of the assel's use. Other support GO$t5 sre allocated based on the spread of 51alf cosis. All resour¢e$ expended a in¢lusive ol IrcOverale VAT. Page 24
British D8ntal Association 8enÈvolBnt Fund NotOS to tho Financial Ststem8nts for the Year Endod 31 D6cember 2025 Icontlnuedl Rai$ing funds These are G051s incurred In allracling voluntary income. the management of investments and those Incurred in trading aclivilies that raise funds. For4lgn ox¢hango Included yrilhin othe¥ expenditure Is loreign exchange. Transactlons In foreign cwrenci&s are recorded at Ihe rate ol exchan9e al the dale of the Ir8nsa¢lion. Charitable actlvlties Charitable expendilur? comprises those costs inc¢Jrred by th8 charity in Ihe deliv8ry of its activities and servlces lor ils beneficiariE5. It includes both costs that can be allocated directly lo such aclNilie8 and those costs of ali Indire¢l nalure necessary to support them. Grant provlslons Provision5 for grants are made vthen the Inlenbon to make a grant has been communicated lo the re&pient but there is uncertainty abDUt either the tirning ol the grant or the 8mount of grant payable. Support C08ts Support ctrsls Include ¢enlral lun¢li0115 and have been allocated lo aGlivity cost categories on a basi5 consislenl with the use of resources. for example. allocaiing property ¢C>$l$ by flo¢r area$, or per capita, siafi costs by the lime $peni and Other ¢osl$ by their usage. ¢3overn4nie rost$ The$e Include the cost$ allribulable to the ¢harity'S ¢ornpliance th conslilulional and statutory requlremenis, Includlng audil. straieglc man8gemeni 3n¢ Iru51ees tlleeling5 an¢ reirnbursed expenses. Taxation The ¢harily is a registered ¢haiity and Is, therefore. exempl from liability to iaxalion on Its income and capilal 9ain$. to the exlenl that they a applied f¢r ¢harilable purpo$es. Ouring the year the charity incurred £9,420 cf non-charilable expenditure therefore will be Subject lo laxalion on this amounl. Tangible fixod a8sots Individual fixed assets costing £100 or more are initially recofded at cost. less any Subsequent accumulated depreciation and suljsequenl accumulated Impairment losses. D•preci¥tion and amortisation Depiecialion Is provided on tangible fixed assets so a5 to wrile off the ¢9$1 or valuation, less any e$limaled residual value, over their expected u$eful e¢onomiG life 35 follows. A558t class Office Equipment Depreclatlon mÈthtsd and rat 200A Slraighl Line Page ?5
British Dontal Assoclatlon B•novol•nt Fund Not88 ¢0 th* FlnanGral Statements IOT th8 Year End8d 31 Dec&mbor 2025 Icontinuodl Flxed 4$set Investments Listèd investments Listed investments are H l¢Jftn of basic financial instrument and are inits.auy recLunised al their transaction value and subsequently measured at lair value atthe balance sheet date using the Gloskng quoled marktsl prfce. rhe Statement of Financial Actlvilies inGlude5 the ngt gains and losses arising on revaljatlon and disposa15 Ihroughout the period. The Charity thes not acqulie or use pul options. derivatives or other complex financial instruments. Reallsed galns and108ses All gains and losses are taken to the statement otfinaneial aclivith.es as they arfse. Reallsed galns and losses Invèstments are calculated as the dIffenCe behyeen sales proceeds and Iheir opening ¢airying value or their purehase value if acquired Subsequent to the first day of th& financial year. Unrealised gains and lo$$es a cakulaled a$ the differen¢e between Ihe fair value al th• périod •nd and their carrying valuo. R¢ali$ed and unfeali$ed investmeThl gains and losses a ¢omtsnetl in the Slatemenl of Financial A¢iiviti85. Cash and cash equlvalent5 Cash and ¢a$h equwilent5 comprise cash on hand and cal deposits, and other short-temi highly hquld Inve$lment$ that a readity ¢onvertible lo a known amount of cash and are Subject to ars In819nificanl risk of ¢hange in Value. Fund structure Unrsstricted income fund5 are general funds Ihal are available for use at the trvslees discrebon in furtherance of the objectives of the charity. The Gharity has a single expendable endovmienl fund. Th@ expendable endowment and 8ddillons thereto are to be inve$led and the incorne used for any puipose al the discrellon ol Ihe Iru$té88. Pen$lons and other post retirement obligatlon$ The charity operates a defined contribution Pen$Tr scheme which is a pension plan under which IixEd contributlOn5 aiE paid Mto a pension fund and the eharily has no legal or con5truclNe obligation lo pay further conlributions even if the fund does not hold sufficient a$$el$ to pay all employees the benefits relating to employee SeiCe in the Current and prior petiod$. Contributions to defined Conlnbution plans are recognised in the Statement of Financial Aclivitie5 when they are due. If conlribub.on payments exceed the contribution du8 for s8Nice. the ex55 15 recognised as a prepayment. Flnancial instruments The Charity only enters into basic financial Instruments that result In Ihe reeognitign of fiThon¢i810&$¢ts arbd lis1•5 such 8$ tradè and Othèr éeblor8 and ¢r&itors. Debt inslrumenls, such as trade debtor$ and creililors are inibally measured al Iran$a¢tion price and $ub5equtnly measured ai amortised cost. Financial assets are a55e5sBd at the end of each reportin9 perirxl lor objective evidence of impairment. 11 objective evidence of impairrnenl 13 lound. an impairment Ioss 18 recogn15ed in the Statement of Financial Activities. Non charltable 6xpendlture Non charitable expenditure pSentS Ihe loss lo the Charity during Ihe year arising from grant aPpIallOnS whi¢h W¢fe paH1 out which were subsequently idenlilied as being fraudulent applicalions, Page 26
Brit15h Dntal Association Benevolent Fund Notes to the Financial Statemonts for th8 Year Endod 31 Dgcomber 2025 Icontinuadl Critical Accounting Estimates and Judgements The preparation ol the financ131 slaleMÈnls in tcthformty ilh FRS 1e2 requires management to make iudgetnpnls, eslimalÉs 2nd 8s$iimplions that affect the application of Polie5 reported amounts of assets and liabilities, income. and expenses. Estimates and IL*Jgement8 are connuallY evaluated and are based on hl$lorl¢al expeenCe and other factofs, includin9 expectation5 of future events that are believed lo be rea60nable under the ¢lr¢ttmsl2nces. The Charity makes e51irDales and assumpiions cencerning the fUtre. Th8 resulting accounting eslim2tÈs will. by dtfinilion, seldom equal the related aclual results. The Tru5tee$ conslder Ih21 thÈrÈ are no trili¢al accounling eslim8les and judg•menls hav• a sig#ifieanl ri$k of ¢au$in9 8 malwlal adjuslmenl lo Ihe carrying atnounls of a$$el$ and liabilities within the next financial yeJr. Paoe 27
8ritTrsh Dental Association Ben6volent Fund Notes to tho Financial Statemonts for tho Year Ended 31 Docember 2025 Icontlnu8dl 2 Income from donatlons and 18gaclos Unrestricted funds Total funds tlonalions from LDCS 81illsh Dental Association's Branches Oonalions from Indlwduals Legacies othtrrs 114.576 16,700 29.462 51,DO 23,842 114,576 16,7 2g,462 51,000 23,642 235 380 Total for 2026 235.380 Donations from LDCS Brillsh Oental Associa'¢n,$ Branches Donations from individuals L¢ga¢ie$ others 118.928 13,5Q2 12,036 1,OQO 43.679 118,928 13,502 12,036 1,000 43,679 Total for 2024 11 189,145 189,145 PauÈ 28
British Déntal Association Benevolent Fund Not•5 to the Financial Stat8mpnts for the Yoar Endod 31 Docombor 2025 (Gontinuedl Detail of dona150tbS from LDCs- 2025 2024 Barnel LDC B3rnsley LDC alderdale & HuddersfiÈk LDC Camden & Islington LDC Cumbria LOC Derby LOC Devon LDC Dorset LDC D5rf•d Povrys LOC East Lantanshi East Riding LDC East SusseK Enfield and Haringey Essex LDC Gloucesl?r LDC Hampshire & l$le ofwighl & Hants IOW LDC Hanls LOC Hertfordshiie LDC Kent LDC LDC Goi)feren¢e Leeds LDC Leicester LDC Lincolnshire LDC LwÈrpool LDC Loc Oenl ciee Er LDC Norftslk LDC North ryne LOC North West London Norlhamplonshire LDC Norllianls LOC Northern Ireland Levy Fund Oxfordshire LDC Redbridge & Wallharn Northumberland LDC Rolheiham LDC Sasford LOC Sellon LDC Sheffield LOG Stsmerset South Chesh1re LDC South East London LDC South Humber LOC South Wesl London Slhlolk LDC 2.000 1.000 1,500 500 1.000 8.000 1.194 5.000 2.OOC> 1.000 1,500 1,160 10.OOD 5,000 3,000 1,500 2.500 900 1,650 5,165 3,000 5,000 6,000 4,000 2,000 1,369 1,000 10,000 1,600 4,000 1,500 1,100 4,000 3.000 9.000 2,000 4.000 4.000 1,629 1,000 10.000 1.600 4.000 3,000 1.000 1,168 1.163 2.500 7,500 2,000 2,000 4,SOO 1.000 500 1,770 3.000 2,000 2.000 l.DOO 500 1,800 750 1.000 8.000 4,000 Page 29
Brfjti5h D•nlal A55QGi4tion B•n•volent Fund Notos lo the Financial Statements for the Year End8d 31 08c8mb8r 2025 Icontinuedl 2025 2024 Sunderland LDC Surrey LDG wakefld LDC Walls311 LDC VVarwGkshirp LD¢ Vvest Penine LDC VV8St Sussex LDC Wittshire LDC Wirral LDC olverhampl¢n LDC 700 5,000 1,000 500 4,188 5.000 2,000 12.000 3,120 3,000 1,000 2,500 soo 500 114.576 118.928 3 Invo8tmont income Unr95trlcted funds Total funds Interest received ert investment porlfolio Interest receivable and similar income 163.753 571 163.753 571 Total for 2026 164.324 164.324 Intet received en Investment portfelS0 Interest receivable and 8lmilar income 167.627 492 187.627 492 Total for 2024 188,119 18B.119 4 Expenditure on raising funds al C05t8 of trading acllvltles Endow¥nei)t fund$ Uiir?$trl¢l funds TotNI funds FJndfai$in9 Total lor 2025 3,240 3,240 3,240 3,240 Fundiaising 2,220 2,220 Total for 2024 2,220 2.220 Page 30
BTlt15h Dgntal A559Gialion B•nvolnt Fund Notes to tho Financial Statements for the Year Ended 31 DoC8mber 2D25 Icontinu8dl bl Investmenl managernent Go¥ts Endowm•nt funds Unro$tii¢te fuThds Total funds Oth¥r poTifu11u fii4lll&lyVtTiviil Lus1¥ 28,691 4,J34 30,225 Total for 2025 25,fj91 4.534 30.225 Other portfolio management costs 30,851 5.339 ,190 Total for 2024 30.851 5.339 38.190 S Exp¢nditure on ¢haritabl¢ a¢tlvFlies Vnr¢$trictèd funds Total funds Notè Grant funding of aclivities Allocated support tosts Goveinance cost$ 270, 163 141,197 26,540 270,183 141.197 28.540 Total for 2025 437,900 437.900 Grant funding ¢f aeiivitie$ Allocated support tosts Guvwnance costs 181,350 139,882 28,156 181.350 139.882 2e.156 Total for 2024 349,388 349.388 The charity undertak85 its charitable activities through grant making. Grants are paid lo individuals direclly lor lo a third party on their behalfj and vary according lo circumstances In furthefance of It5 Page31
Britlsh Oontal Association Benevolont Fund Notey to th& Flnan¢lal Statom•nts for th8 Ygar Ended 3108c8mber 2025 Icontinuadl 6 Support ¢o$t$ Unr85tricted funds Total funds qIAff eo$l< General office costs Marketing and wblicity Depreciation. am¢rti$alion and other Similar ¢o$l$ Travelling expenses Total for 2025 99,038 13,471 25,534 359 2,795 99.038 13,471 25.S34 359 2,795 141.197 141.197 Staff costs General ofllce ¢ost8 Mafkeling and bIllY Depreciation, amerlatiON and olh¢r Similar ¢o$t$ Travelling expense$ Total 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 Page 32
Brit15h D•ntal A55oGiation B•ngvolent Fynd Notes to tho Flnancial Statements for the Year End8(131 Dec8mb8r 2025 Icontinuedl 7 Analy$ls of yovernan¢e and $upport Costs upport ¢o$l$ allo¢#ted to ¢harktèblo ¥¢tivitie$ other support ¢ost$ Gov¢rnanc¢ costs Total 2025 Ba$1$ of allocaiion Slafl lime Staff lime staff cosl Gerter81 office costs 11,004 1,493 99,038 13,471 117.,509 110,042 14,964 125,006 12,497 Other support costs Gov•rt)an¢• costs Total 2024 Basi8 of allocatlon Stafl lime Staff lime Staff CDSI Gerneral offl¢e costs 10,942 1,585 12,527 98,474 14.301 109,416 15,886 125.302 112,775 Gov8rnancè costs Unr8$tricted funds Total funds Staff cosl AGM and Iruslees, meeling costs Ceneral office costs Siibsc¥iplions, Iicence5. fees and Iiaining Auditor's [emuneraln Acwunlancy other kgal and profe55ional fee5 11.OQ4 1.854 1.493 9>3 4.11 3.57 3.516 11.004 1,854 1,493 gy3 4,110 3,570 3,516 Total for 202$ 26,54Q 26,540 Staff cos15 AQM and Iru$tees' meeling co$¢$ Gerberal olfi¢e ¢fJsIs SubscriptiDns. licences. fees and training Audilor's remuneration Acc¢unlart¢y Other legal and professional fees 10,942 4.127 1.595 1,068 3.87Q 4.200 2.364 10.942 4.127 1,585 1,068 3.870 4,200 2,384 Total for 2024 28.156 Page 33
8rlt15h D•ntal A55OGidtion B•n•vol•nt Fun Not to the Flnan¢lal Statem8nts tor tha Year Ended 31 Oocomber 2Q25 lcontinuodl Net Incomellexpondlturel Net In¢ome for Ihe year irludes.. 2Q25 2024 Audil0¢5 remuneratlon- for audit service8 Auditor'$ remuneration- for accountancy servi¢e$ 4.110 3,570 3,870 4.20Q 7.680 8.Q70 9 Staff costs The aggiegale payroll costs were as follows". 2026 2024 Staff costs durlng the year w8ro'. SalariE5 Soci81 security us1$ Pansion costs 101.183 2.807 6.052 96,696 5.79Q e.93Q 110.042 109,416 The average number of person5 employed by the charity wa5 2 12Q24". 21. No TIu51ee reGeived any remunoralion12024. nonel. Expernses lolalling £1,14812024". £1,1331 1mbur5ed to 4 12024.. 41 Tru4t••s to •nable attendance al wnepting%. The CEO and Tru$tee8 are COnser8d to be key management pwsonnel, Key management rsonn81 remuneration totalled £95,34012024". £90,QQ81. One employee reGeived ernolurnents ol morÈ Ihan £60.000 during thè y8ar12074. One). The nurnber of employees whose emolument$ fell within the lolMin9 bands wa$., 2025 No 2024 £70,001 £80,000 10 Taxatlon The Charity is a registered ¢hafily and is Iherefofe exempl from taxat on it5 incorne anEI Gapital 9ain$ to the extent 01 they are opplied for eharitable puipo$es. uring ihe year the charity incurred £9.420 of nc>n-charitabte expendiiuie and therefore will be subje¢l lo taxation Dn this am¢unl Page 34
British Dental AssoGla¢lon Bonovolgnt Fun Notes to the FinanGial Statgmgnt5 for the Year Endod 31 Doc8mb8r 2025 Icontinuedl 11 Tanglble flxed as89ts Furnituro and equipment Total ¢o$t At l J2nuary 2025 1.793 At 31 December 2025 1,793 1.793 Dopr¢ci¥tion Al l January 2025 Charge for the year 898 358 898 3s8 Al 31 December 2025 1,256 1,256 Not book valuè Al 31 Decernber 2025 537 537 Al 31 December 2024 895 895 12 Fix8d a8S8t invèstmènls Lls¢ed Inveslments 2025 2024 Cost or Valuation Al 1 January Addition5 Disp05als RevalLialion 7.116,796 5,228,819 IS,335,9591 525,444 7.535,100 140,194 6.929,800 1,507.068 It.644.7351 224.663 7.116.796 199,492 Cash held In investment portlolio Nei book value at 31 December 7.675,294 7,316.288 2025 2024 Investments at fair valuo compris&d: UK fixed interest securities UK equilies Iinc. properly) Foreign Fixed iiileresl se¢urili?$ and equilie5 Alternative BssEts 869.190 274.541 5,660,250 731.119 1.227,383 584,251 4.683,739 621.423 7.535.100 7,116,796 Page 35
Brttlsh Dontal ASSQGiation B•VOInt Fund Not•S to tho Financial Statements for the Year Ended 31 ()8cembor 2025 Icontlnuodl 13 Oebtors 2025 2024 Prepayments Aeefued legacy income Olhor debtors 4.077 50,000 9,022 63.099 813 10,941 11.754 14 Credltors.. amounts lalllng due wlthln one year 2026 2024 Other tredilors Ac¢rual& 25,230 16,434 41.664 26,983 12,614 39,597 P8ge 36
Brit15h Dgft41 A55oEl4tlon Benevolent Fund Notes to the Financial Ststements for the Year Ended 3108cember 20ZS Icontlnugdl 13 Funds 8alanc8 at Balance at 1 January 2Q25 othèr recognlsed Decombgr galn$ 2025 31 In¢ome Expendltur¢ Unreslrlcted fund$ Unreslrieled funds 1,179,236 399.7 1452,0041 74,540 1.201,476 Endowment funds Expendable 5.17Q,451 29,793 429,407 6,570,065 Total fund6 7,349,687 399,704 481,797 503,947 7.771,641 Balance 8t 1 January 2024 other rotogiilsed December gaSns 31 Incom6 Expenditure 2024 unréstrict funds Unrestricted funds 1,105,116 377.264 1354.7271 51,583 1.179,236 Endowm•nt funds Expendable 5.906.372 133.071 387,798 297,150 6,17Q,451 7,349,687 Total fvnds 7011.488 377,264 348,733 The expendable endowment is to be inve51ed and tho In¢ome u$¢d for any ¢harilable purpose al the discrelion of the tru5tee5. The expendable endowment may 81so be sp?nt al the absolute discreiion of the Iru51ee$. The unrestricted In¢ome fund may be applEd for any purpose al the discretion of the trustees. Pag& 37
Brltlsh Dental AB¥ocFalion B8n8volont Fund Notes to the FinancTral Statem¥nts for tho Year Ended 31 DoGomb8r 2025 lconts"nd1 16 Analy$l$ of ngt a¥$ot$ funds Total funds at 31 Dec8mb8r 2025 Unr•strict•d fund¥ Endov47nant fund$ Tariglble Iixed assets Fixed a$$el inve3tfflEnts Current #SS6ts Current liab4itl88 5J7 1,098,519 88,294 33,874 537 7,675.294 87,374 41,664 7.721.541 6.576,775 1,080 7.790 Total net as$ots 1,151,476 e.570.oe5 Total funds at 31 D¢¢embgr 2024 Unrèstrktèd fund$ EndowThgnt funds TangiLle fix assels Fixed a$$et Investments Current assets 895 1,138,132 72,101 31,8921 895 7,316,288 72.1CII 6,178,156 7,705 Total rnet 35sels 1,179.236 6,170451 7,349,687 17 Related party tr4n$a¢tlon$ There were no related party Iransaotions in Ihe year12024- Nill. Pa9e 38