2022-03-31-accounts - Manchester Medical Society

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Membership Breakdown				2022	2021
Honorary Fellows
Life Fellows/Full Members	(not being Honorary		Fellows)	147	148
Fellows				539	608
Retired Fellows/Full Members				176	179
Out-of-area Fellows				28	28
Full Members (Non-Medically		qualified)		30	21
Members of Sections
FY1-2 Doctor/Dentist				70	93
SpeciaIty Trainee				110	135

			Unrestricted	Restricted	Total funds	Total funds
			funds	funds	2022	2021
		Note	E	E	E	E
Income from:
Donations and legacies		3	14,796	100	14,896	182,195
Charitable activities:			54,610	450	55,060	59,499
Investments		s	12,314		12,319	10,537
Total income			81,720	555	82,275	252,231
Expenditure on:
Raising funds			7,295		7,295	5,598
Charitable activities:		7	116,154	870	117,024	103,857
Total expenditure			123,449	870	124,319	109,455
Net income/(expenditure)		before
net gains/(losses)	on investments		(41,729)	(315)	(42,044)	142,776
Net gains/(losses)	on investments		(12,024)		(12,024)	107,167
Net income/(expenditure)		for the
year		9	(53,753)	(315)	(54,068)	249,943
Transfer between funds			(250)	250
Net movement in	funds for	the year	(54,003)	(65)	(54,068)	249,943
Reconciliation of	funds
Tota I funds brought	forward		785,030	19,202	804,232	554,289
Total funds carried forward			731,027	19,137	750,164	804,232

					Balance She	et
				as	at 31 March	2022
				Note	2022			2021
Fixed assets
Tangible assets				13		8,903			3,790
Investments				14		692,477			697,227
Total fixed assets						701,380			701,017
Current assets
Debtors				15	9,706		13,058
Cash at bank and	in	hand		16	58,753		103,644
Total current assets					68,459		116,702
Liabilities
Creditors: amounts		falling
due in less than	one year				(19,675)		(13,487)
Net current assets						48,784			103,215
Total assets less	current		liabilities			750,164			804,232
Net assets						750,164			804,232
Funds ofthe charity:
Restricted income	funds			19		19,137			19,202
Unrestricted income		funds		20		731,027			785,030
Total charity funds						750,164			804,232

					Note	2022	2021
						E
Cash provided by/(used		in) operating		activities	22	(43,793)	139,052
Cash flows from investing	activities:
Dividends, interest, and		rents	from investments			12,319	10,537
Proceeds from sale of tangible			fixed assets
Purchase of tangible fixed assets						(6,143)	(3,499)
Proceeds from sale of investments						660,363	270,281
Purchase of investments						(667,637)	(385,232)
Cash provided by/(used		in) investing		activities		(1,098)	(107,913)
Increase/(decrease) in cash		and	cash
equivalents in the year						(44,891)	31,139
Cash and cash equivalents	at the		beginning	ofthe year		103,644	72,505
Cash and cash equivalents		at	the end ofthe year			58,753	103i644

3	Income		from dona	tions	and legacies
	Current		reporting	period		Unrestricted f	Restricted f	Total 2022 f
	Donations					4,796	100	4,896
	Legacies					10,000		10,000
	Total					14,796	100	14,896
	Previous		reporting	period		Unrestricted f	Restricted f	Tota I 2021 f
	Donations					31,920	275	32,195
	Legacies					150,000		150,000
	Total					181,920	275	182,195
4	Income		from charitable		activities
	Current		reporting	period		Unrestricted	Restricted f	Tota I 2022
	Subscriptions					54,610		54,610
	Awards	and prizes					450	450
	Total					54,610	450	55,060
	Previous		reporting	period		Unrestricted f	Restricted f	Total 2021 f
	Subscriptions					58,999		58,999
	Awards	and prizes				150	350	500
	Total					59,149	350	59,499

5	Investment income	Investment income
	Current	reporting period		Unrestricted E	Restricted f	Total 2022 E
	Income from bank deposits			5		10
	Dividends	received		12,309		12,309
				12,314		12,319
	Previous	reporting period		Unrestricted	Restricted f	Tota I 2021
	Income from bank deposits			7	13	20
	Dividends	received		10,517		10,517
				10,524	13	10,537
6	Cost of	raising funds
				2022	202i
	Investment management		costs	7,295	5,598
				7,295	5,598


Current reporting	period		Tota I 2022
			E
Staff costs			92,757
Office Expenditure			5,632
Prizes			870
Direct Debit Service			456
Grant to library			7,500
Depreciation			1,030
Meeting Expenses			785
Service Charge to MANDEC			3,000
Professional Fees			3,114
Rent for use of library			500
Section Meetings
Governance costs
(see note 8)			1,380
			117,024
Previous reporting	period		Tota I 2021
Staff costs			91,627
Office Expenditure			2,606
Prizes			450
Direct Debit Service			456
Grant to library
Depreciation			1,789
Meeting Expenses			1,481
Service Charge to MANDEC			3,000
Professional Fees			232
Governance costs
(see note 8)			2,100
			103,741
		2022	2021
Restricted expenditure		870	350
Unrestricted expenditure		116,154	103,507
		117,024	103,857

Analysis ofgovernance and	Analysis ofgovernance and	sup	port costs	port costs
Current reporting period			Basis of apportionment			Governance	Total 2022 f
Accountancy services			Governance			1,380	1,380
						1,380	1,380
Previous reporting period			Basis of apportionment			Governance f	Total 2021 f
Accountancy services			Governance			2,100	2,100
						2,100	2,100
Net income/(expenditure)		for	the year
This is stated after charging/(crediting):					2022 f	2021f
Depreciation					1,030	1,789
Examiner's remuneration	- accountancy			fees	1,150	1,050
Examiner's remuneration	- payroll		bureau fees		227	232
Independent examiner's	fees				700	700
Staff costs
Staff costs during the year were as follows:
					2022 f	2021f
Wages and salaries					74,356	73,590
Social security costs					2,600	2,510
Pension costs					15,801	15,527
Redundancy and termination		costs
					92,757	91,627

Fixed assets: tangible assets
	Office
	equipment
Cost	E
At 1 April 2021	12,037
Additions	6,143
D isposa Is
At 31 March 2022	18,180
Depreciation
At 1 April 2021	8,247
Charge for the year	1,030
Disposals
At 31 March 2022	9,277
Net book value
At 31 March 2022	8,903
At 31 March 2021	3,790

Investments
			2022	2021
			E
Market value at the	start of the year		697,227	475,109
Add: additions to investments		at cost	667,637	385,232
Disposals at carrying	value		(660,363)	(270,281)
Add net gain/(loss)	on revaluation		(12,024)	107,167
Market value at the	end of the	year	692,477	697,227
Investments at fair	value comprised:
Equities			427,881	449,057
Fixed interest securities			163,776	90,591
Alternative Investments			100,820	157,579
			692,477	697,227

l5	Investments Debtors	are all carried	at fair value and	are all traded in quoted	public mark
				2022	2021
					E
	Income tax receivable			4,560	4,271
	Trade debtors			168	748
	Prepayments	and accrued	income	4,708	8,039
	Other debtors			270
				9,706	13,058
16	Cash at bank	and in hand
				2022	2021
				E	E
	Cash at bank	and on hand		58,753	103,644
				58,753	103,644

Credi	tors: am	ount	s falling due within	one year
				2022	2021
					E
Trade	creditors			13,719	3,470
Other	creditors	and	accruals	5,956	10,017
				19,675	13,487

Previous reporting	Previous reporting	Previous reporting	Balance at						Balance at
	period		1 April						31 March
			2020 E	Income f		Expenditure E		Transfers f	2021 E
Restricted Funds
K Bloor Memorial Fund			3,465		4				3,469
A Hunter	Memorial	Fund	8,662		134				8,796
j Steward	Memorial	Fund	1,967						1,967
Paediatric	Fund		1,591					1,210	2,801
Anaesthesia Prize Fund					350		(350)
Psychiatry			963						963
Imaging	Prize Fund				150				150
			16,648		638		(350)	1,210	18,146
Endowment Funds
Cooper	Bequest		1,056						1,056
			1,056						1,056
Total			17,704		638		(350)	1,210	19,202
Name	of
restricted fund			Description,	nature	and	purposes	ofthe	fund

Analysis o	f movement	in unrestrict	ed funds
Current
rePorting Penod	Balance at ] April		Expenditur	Gains/(loss es) on		As at	31
	2021	Income	e	investment	Transfers	March	2022
General	744,676	81,660	(115,124)	(12,024)	(250)	698,938
Medicine
Surgical		60	(60)
Pathology
Anaesthesi	154						154
Imaging	200		(75)				125
Website
and digital oresence	40,000		(8,190)			31,810
	785,030	81,720	(123,449)	(12,024)	(250)	731,027
Previous
reporting per lod	Balance at 1 April		Expenditur	Gains/(loss es) on		As at	31
	2020	Income	e	investment	Transfers	March	2021
	E	E	E	E	E	E
General	537,038	251,593	(109,105)	107,167	(42,017)	744,676
Surgical	(8)				8
Pathology	(799)				799
Anaesthesi	154						154
Imaging	200						200
Website
and digital
Presence					40,000	40,000
	536,585	251,593	(109,105)	107,167	(1,210)	785,030

Analysis	of net	assets between f	unds
Current
Reporting
Period			General	Designated	Restricted
			fund	funds	funds	Total
Tangible	fixed assets		8,903			8,903
Fixed asset investments			692,477			692,477
Other net	current	assets/(liabilities)	(2,442)	32,089	19,137	48,784
Creditors	of more	than one year
Total			698,938	32,089	19,137	750,164
Previous
Reporting
Period			General	Designated	Restricted
			fund	funds	funds	Total
Tangible	fixed assets		3,790			3,790
Fixed asset investments			697,227			697,227
Other net	current	assets/(liabilities)	43,659	40,354	19,202	103,215
Creditors	of more	than one year
Total			744,676	40,354	19,202	804,232

Reconciliation of net	movement	movement	in	funds to net	cash flow from operating	cash flow from operating
					2022	2021
					E
Net income/(expenditure) for the Adjustments for:				year	(54,068)	249,943
Depreciation charge					1,030	1,788
(Gains)/losses on investments					12,024	(107,167)
Dividends, interest	and rents	from		investments	(12,319)	(10,537)
Decrease/(increase)	in debtors				3,352	3,127
Increase/(decrease)	in creditors				6,188	1,898
Net cash provided by/(used		in)	operating
activities					(43,793)	139,052