| UNCIL FOR | THE 2 | 49th SESSION— 2021 |
-2022 | and Council meetin s atten |
ded | |
|---|---|---|---|---|---|---|
| President/Chair | of | Prof Clara Lowy (6/6) | ||||
| President Elect | Col SJagdish (4/6) | |||||
| Senior Secretary | Dr Alistair Purves (2/6) | |||||
| Junior Secretary | Dr Susan West (5/6) | |||||
| Vice presidents: | Dr David Park (4/6) | Prof Dafydd Thomas (4/6) | Brig Ivan Houghton | (4/6) | ||
| Hon Treasurer | Dr Peter Keir (5/6) | |||||
| Hon Librarian | Col SJagdish (4/6) | |||||
| Hon Editor | Dr Nicholas Cambridge | (6/6) | ||||
| Ordinary Councillors: |
||||||
| 3N yr | Dr Mary Sherry (2/6) | Dr Tony Roques (5/6) | Dr John Flower (5/6) | |||
| 2~yr | Prof Roberto Guiloff (5/6) | Dr Clive Harmer (4/6) | ||||
| I"yr | Dr Rodney Rivers (4/6) | Dr Rudi Capildeo (5/6) |
| Statement of Financial Activities | Statement of Financial Activities | |||
|---|---|---|---|---|
| The Medical Society ofLondon | Total | Prior Period | Further | |
| Reg Charity No. 209242 | Funds | Total Fund | Details | |
| ALL FUNDS ARE UNRESTRICTED | ||||
| Income and endowments | from: | Note 2 | ||
| Donations and Legacies |
40,200 | 100,000 | ||
| Charitable activities |
19,266 | 20,301 | ||
| Other trading activities | 111,964 | 84,742 | ||
| Investments | 22,528 | 20,535 | ||
| Other | 2,301 | (106) | ||
| Total | 196,259 | 225,472 | ||
| Expenditure on: |
||||
| Raising Funds | 2,184 | 1,989 | Note 6b | |
| Charitable activities |
214,067 | 275,043 | ||
| Admin and Management |
8,785 | 6,734 | Note 12 | |
| Total | 225,036 | 283,766 | ||
| Net income/(expenditure) | (28,777) | (58,294) | ||
| Net (losses)/gains on investments |
(59,055) | 110,476 | ||
| Net movement in funds |
(87,832) | 52,182 | ||
| Reconciliation offunds: |
||||
| Total funds brought forward |
7,397,761 | 7,345,579 | ||
| Total funds carried forward | 7,309,929 | 7,397,761 |
| as | at 30June 2022 |
|||
|---|---|---|---|---|
| TotsIs | ||||
| Totals | Funds to | |||
| Funds to 30 | 30June | |||
| Notes | June 2022 | 2021 | ||
| FIXEDASSETS | 6 | |||
| Freehold | Property | 6,000,000 | 6,000,000 | |
| Historical | artefacts | 446,876 | 446.876 | |
| Furniture | and equipment | 10,415 | 12.384 | |
| Investments at market value |
797264 | 876342 | ||
| 7,254,555 | 7,335,602 | |||
| CURRENT ASSETS | ||||
| Stock | 9 | 14,972 | 12,075 | |
| Debtors | 10 | 7.840 | 6,133 | |
| Cash in |
bank and in hand | 57.094 | 71,101 | |
| 79.906 | 89,309 | |||
| Less: CREDITORS | ||||
| Amounts | falling due within one | |||
| year | (24,532) | (27,150) | ||
| NET CURRENT ASSETS | 5 | 55,374 | 62,159 | |
| NET ASSETS | 7,309,929 | 7,397,761 | ||
| FUNDS | ||||
| CAPITAL FUNDS | ||||
| Special | Reserve | 1,180,671 | 1.245.391 | |
| Revaluation Reserve |
15 | 5,760,936 | 5,760,936 | |
| INCOME | FUND | |||
| General | Fund | 368,322 | 391,434 | |
| 7 309,929 | 7397761 |
| for the | year ended 30June 202 | 2 | |||
|---|---|---|---|---|---|
| Totals | |||||
| Diislonated | Totals | Year | |||
| Fuiid: | Year to | to 30 | |||
| General | Special | 30June | June | ||
| Unrestricted Funds |
Fir nil | Reserve | 2022 | 2021 | |
| Incoming resources | |||||
| Dividends and interest |
22,528 | 22,528 | 20,535 | ||
| Gift Aid | 1,989 | 1,989 | 1,994 | ||
| Subscnptions/joining fees received |
17,277 | 17.277 | 18,307 | ||
| Rents receivable | |||||
| Chandos Street tenants |
70.076 | 70,076 | 84,742 | ||
| Occasional leuings | 41,888 | 41,888 | 0 | ||
| Other income: | |||||
| Royalties | 66 | 66 | 308 | ||
| Donations & Legacies |
40,200 | 40,200 | 100,000 | ||
| Functions | 590 | 590 | f642) | ||
| Miscellaneous receipts |
1,645 | 1,645 | 228 | ||
| TOTAL INCOMING RESOURCES |
173,731 | 22,528 | 196,259 | 225,472 | |
| Resources Expended | |||||
| Direct Charitable Expenditure: |
|||||
| Hardship Bursaries |
0 | 0 | 16,000 | ||
| Royden Device Bursaries | 500 | 500 | 2,000 | ||
| McNee Bursaries | 2,000 | 2,000 | 1.000 | ||
| Manseg Bursaries | 0 | 0 | 3,025 | ||
| Tucker Legacy | 4,000 | 4,000 | 0 | ||
| Repairs and renewals | 12,314 | 12,314 | 61,651 | ||
| Secunty costs | 3.469 | 3,469 | 4,351 | ||
| Printing of'Transactions' |
6,205 | 6,205 | 6.263 | ||
| Library, Archives & Paintings |
990 | 990 | 15,750 | ||
| Histories presented | 180 | 180 | 0 | ||
| Orators knives presented | 123 | 123 | 114 | ||
| Leltsomian Medal presented |
115 | 115 | 0 | ||
| Badges presented | 280 | 280 | 280 | ||
| Salaries and wages | 106,587 | 106,587 | 84,692 | ||
| Pensions | 5,715 | 5,715 | 5.645 | ||
| Business rates | 13,567 | 13,567 | 13,922 | ||
| Water rates | 593 | 593 | 431 | ||
| Insurance | 13,423 | 13,423 | 10,688 | ||
| Lighting and heating |
7,431 | 7,431 | 4.782 | ||
| Telephone | 896 | 896 | 931 | ||
| Stationery and postage |
2,068 | 2,068 | 1,201 | ||
| Office expenses | 9,404 | 9,404 | 9,720 | ||
| General expenses | 16,313 | 16.313 | 11,503 | ||
| Depreciation | 1,969 | 1,969 | 2,593 | ||
| Unrecoverable I/AT |
5925 | 5925 | 18501 | ||
| Direct Charitable Expenditure |
c/f | 188,058 | 26,009 | 214,067 | 275,043 |
| Designated | Totals | Totals | |||||
|---|---|---|---|---|---|---|---|
| Fund: | Year | Year | |||||
| General | Special | to 30Jun | to 30Jun | ||||
| Fund | Reserve | 2022 | 2021 | ||||
| Direct Charitable | Expenditure | b/f | 188,058 | 26,009 | 214,067 | 275,043 | |
| Admin and Management | ofCharity | ||||||
| Independent Examinatlonl |
Audit | 895 | 895 | 895 | |||
| Accountancy and |
payroll | 6,132 | 6,132 | 4.880 | |||
| Stockbrokerfees | 2,184 | 1.989 | |||||
| Bank charges | 202 | 202 | 134 | ||||
| Professional fees |
1,556 | 1,556 | 825 | ||||
| 8,785 | 2,184 | 10,969 | 8,723 | ||||
| TOTAL RESOURCES EXPENDED | 196,843 | 28,193 | 225,036 | 283,766 | |||
| NET INCOMING | (OUTGOING) | ||||||
| RESOURCES FOR THE | PERIOD | (23,112) | (5685) | (2&777) | (58.294) | ||
| OTHER RECOGNISED GAINS | AND | ||||||
| LOSSES | |||||||
| Gams (losses) on | investments | ||||||
| Realised | 1,020 | 1,020 | 223 | ||||
| Unreaksed | (60.075) | (60.075) | 110.253 | ||||
| NET MOVEMENT | IN FUNDS | (23.112) | (64,720) | (87,832) | 52.182 | ||
| Balances brought | forward | ||||||
| at 1 July 2021 | |||||||
| BALANCES CARRIED FORWARD | |||||||
| AT 30JUNE 2022 | 6,129,258 | 1.180,671 | 7,309,929 | 7,397,761 |
| for the | year ended 30June 2 | 021 | ||
|---|---|---|---|---|
| Totals | ||||
| Designated | Totais | Year | ||
| Filtldi | Year to | to 39 | ||
| General | Special | 30June | June | |
| Unrestricted Funds |
Fund | Reserve | 2021 | 2020 |
| E | E | E | E | |
| Incoming resources | ||||
| Dividends and interest |
20,535 | 21,089 | ||
| Gift Aid | 1,994 | 1,994 | 2.130 | |
| Subscnptionsljoining fees received |
18,307 | 18,307 | 18,56T | |
| Rents receivable: | ||||
| Chandos Street tenants |
84,T42 | 84,742 | 81,298 | |
| Occasional lettings | 0 | 0 | 56,350 | |
| Oiherincome: | ||||
| Royalties | 308 | 308 | 587 | |
| Donations &Legacies |
100,000 | 100,000 | 290,000 | |
| Funcbons | (642) | (642) | 5,774 | |
| Miscellaneous receipts |
228 | 228 | 2,245 | |
| TOTAL INCOMING RESOURCES | 204,937 | 20,535 | 225,472 | 47e,oso |
| Resources Expended | ||||
| Direct Charitable Expenditure: |
||||
| Hardship Bursanes |
16,000 | 16,000 | 0 | |
| Royden Davies Bursanes | 2,000 | 2,000 | 1,000 | |
| McNee Bursarias | 1,000 | 1,000 | 1000 | |
| Mansall Bursaries | 3,025 | 3,025 | 0 | |
| Middlesex Hospital Bursary |
0 | 0 | 1,000 | |
| Librach Legacy | 0 | 0 | 500 | |
| Repairs and renewals | 61,651 | 61,651 | ee,eyg | |
| Security costs | 4,351 | 4,351 | 3,761 | |
| Pnnting of'Transactions' | 6,263 | 6,263 | 6,471 | |
| Library, Archives &Paintings |
15,750 | 15,750 | 353 | |
| Histories presented | 0 | 0 | 450 | |
| Orators knives presented | 114 | 114 | 114 | |
| Lettsomian Medal presented |
0 | 0 | 115 | |
| Badges presented | 280 | 280 | 280 | |
| Salan'es and wages | 84,692 | 84,692 | 105,983 | |
| Pensions | 5,645 | 5,645 | 5,357 | |
| Business rates | 13,922 | 13,922 | 14,424 | |
| yyater rates | 431 | 431 | 767 | |
| Insurance | 10,688 | 10,688 | 10,002 | |
| Lighhng and heating |
4,782 | 4,782 | 5,066 | |
| Telephone Stationery and postage |
931 1,201 |
931 1u¹ |
846 2,206 |
|
| Office expenses | 9,720 | 9,720 | 8,166 | |
| Generalexpanses | 11,503 | 11,503 | 15,413 | |
| Depreciation | 2,593 | 2,593 | 1,930 | |
| Vnrecoverable VAT |
18,501 | 18,501 | 15,410 | |
| Direct Charitable Expenditure |
169,354 | 105,689 | 275.043 | 294,495 |
| Designated | Totals | Totals | |||||
|---|---|---|---|---|---|---|---|
| Fund: | Year | Year | |||||
| General | Special | to 30Jun | to 30Jun | ||||
| Fund | Reserve | 2021 | 2020 | ||||
| Direct Charitable Expenditure |
blf | 169,354 | 105,689 | 275,043 | 294,495 | ||
| Admin and Management | ofCharity | ||||||
| Independenl Examination/Audit |
895 | 895 | 3.850 | ||||
| Accountancy end payroll |
4,880 | 4,880 | 5,740 | ||||
| Stockbroker fees | 1,989 | 1,989 | 1.607 | ||||
| Bank charges | 134 | 134 | 198 | ||||
| Professional fees | 825 | 825 | 325 | ||||
| 6,734 | I,989 | 8,723 | 11,720 | ||||
| TOTAL RESOURCES EXPENDED | 176,088 | 107,b78 | 283,766 | 306,215 | |||
| NETINCOMING (OUTGOING) |
|||||||
| RESOURCES FOR THE | PERIOD | 28,849 | (87,143) | (58,294) | 171,825 | ||
| OTHER RECOGNISED GAINS | AND | ||||||
| LOSSES | |||||||
| Gains (losses) on investmenls | |||||||
| Realised | 223 | 223 | (312) | ||||
| Unrealised | 110.253 | 110,253 | (38,408) | ||||
| Property revaluation |
0 | 0 | 0 | ||||
| NET MOVEMENT IN FUNDS | 28,849 | 23,333 | 52.182 | 133,105 | |||
| Balances broughl forward al 1inly 2020 |
6. | 3k5k» | 1.222,058 | 3 5 5k 9 | 2k» | ||
| BALANCES CARRIED FORWARD | |||||||
| AT30JUNE 2021 | 6, | 152,370 | 1,245,391 | 7,397,761 | 7,345,579 |
| 5. ANA | LYSIS | OF NET ASSETS BE | TWEEN FUNDS | ||
|---|---|---|---|---|---|
| General | Special | ||||
| Fund | Reserve | Totals | |||
| FIXED ASSETS | K | E | |||
| Freehold | Properly | 5.335,077 | 664.923 | 6.000.000 | |
| Historical | Artefsds | 446,876 | 446,876 | ||
| Furniture | and equipmenl | 10,415 | 10,415 | ||
| Investments at market value |
797,264 | 797,264 | |||
| 5,792.368 | 1.462,187 | 7,254,555 | |||
| CURRENT ASSETS | |||||
| Stock | 14,972 | 14.972 | |||
| Debtors | 7,840 | 7.840 | |||
| Cash in bank snd | in hand | 54,586 | 2.508 | 57,094 | |
| 77,398 | 2.508 | 79,906 | |||
| Current | Liabilities | ||||
| Creditors | falbng | due within one year | (10,532) | (14,000) | (24,532) |
| 66,866 | (11,492) | 55,374 | |||
| Owing between | funds | 270,024 | (270,024) | ||
| Reserves | 6,129,258 | 1.180,671 | 7,309,929 | ||
| Historical cost | ofinvestments | ||||
| 30June | 2022 | 0 | 660.770 | 660,770 |
| Holding | Holdings | at 30June 2022 | 2022 | 2022 | |
|---|---|---|---|---|---|
| 2022 | Cost | Market | |||
| value | |||||
| 6 | 6 | ||||
| UK EQUITIES | |||||
| 487,623 | Barclays | Charity R Accumulation | 660.770 | 797,264 | |
| 6.b | INVESTMENT MANAGEMENT | CHARGES | |||
| 2022 | 2021 | ||||
| 2,184 | 1,989 |
| 7. FIXEDA |
SSET INVESTMENT | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Market Value | 1 July 2021 | 876,342 | 723,186 |
| Additions | 0 | 24.919 | |
| Accumulated | Income | 22,528 | 20,535 |
| Disposals | (42,551) | (2,774) | |
| Net realised gains/(losses) | 1.020 | 223 | |
| Net unrealised | gains/(losses) | (60,075) | 110,253 |
| Market value | 30June 2022 | 797,264 | 876,342 |
| Histoncal cost as at 30June 2022 | 660,770 | 670,285 |
| The | following operating lease payments |
are committed | to be paid within one year. | ||
|---|---|---|---|---|---|
| 2022f | 2021 8 |
||||
| Expiring between one and five years (MODE 3 months |
at 5330) | 990 | 6,270 | ||
| 15. | REVALUATION RESERVE |
||||
| The | Revaluation Reserve is made up of: |
||||
| Revaluation ofproperty 2010 |
1,474,000 | ||||
| Further revaluation of property 2016 |
3,845,077 | ||||
| Valuation ofhistonc artefacts 2010 |
441 859 | ||||
| 85,760,936 |