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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|
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||||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|
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|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||
##
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##
|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|
|22|Reconciliation
of net|movement|movement|in|funds to net|cash flow from operating|cash flow from operating|activities|
|---|---|---|---|---|---|---|---|---|
|||||||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||