Company number: 00985158 Charity Number: 261876
## Institute of Medical Ethics
Report and financial statements For the year ended 31 December 2020
## Institute of Medical Ethics
## Reference and administrative information
for the year ended 31 December 2020
**Company number** 00985158 **Charity number** 261876
**Registered office and operational address** Suite 13 Bold Business Centre, Bold Lane, St Helens, WA9 4TX
**Trustees** Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Dr WM Kong Chair Rev B Vernon Treasurer Dr C R Hooper Secretary Dr R Bromley Dr L Frith Prof R Gillon Prof M Lloyd C Patel Dr A Paton Dr A Slowther Prof G Stirrat F J Stone G Testa Dr P Vivekananda-Schmidt Dr S Camporesi (Appointed 17 Dec 2020) **Key management** Mr P Greenwood Chief Executive **personnel** Mrs L Peers Membership & Administration Officer Mrs C King Digital Content Editor Mrs Z Riley Subcontractor Prof R Gillon Hon President Prof A Campbell Hon Vice President Prof K Boyd Hon Vice President Prof R Higgs Hon Vice President Prof G Stirrat Hon Vice President
1
## Institute of Medical Ethics
## Trustees’ annual report
for the year ended 31 December 2020
Prof M Lloyd
Hon Vice President
**Bankers** CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4TA
**Independent** Jennifer Daniel FCCA DChA, Slade & Cooper Limited **examiner** Beehive Mill, Jersey St, Manchester, M4 6JG
2
## Institute of Medical Ethics
## Trustees’ annual report
## for the year ended 31 December 2020
The trustees present their report and the unaudited financial statements for the year ended 31 December 2020. Included within the trustees’ report is the directors’ report as required by company law.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Objectives and activities**
The Objects of the Charity are to advance for the benefit of the public the education of medical practitioners and medical students in the United Kingdom in the impartial understanding and practice of medical and healthcare ethics and law and in the integration of these disciplines into clinical practice.
The Institute of Medical Ethics' policy is to promote interest and study of ethical issues in the provision of healthcare.
The trustees confirm that they have been given the general guidance produced by the Charity Commission on public benefit. The trustees are confident that public benefit is achieved through the education of medical and healthcare ethics and law.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
## **Achievements and performance**
The charity's main activities and who it tries to help are described below. All its charitable activities focus on medical and healthcare ethics and law and are undertaken to further the IME’s charitable purposes for the public benefit.
During the year 2020 the Institute of Medical Ethics continued to promote interest, awareness and analysis of the ethical issues that arise in the provision of health care and are of interest and concern to other disciplines, patients and the public and to encourage their integration into clinical practice for the benefit of the public. Due to the Covid-19 pandemic some plans made for the year were not realised however plans were put in place for an enhanced online offering for 2021. The change of plans resulted in a reduction in expenditure resulting in an unbudgeted surplus.
3
## Institute of Medical Ethics
## Trustees’ annual report
for the year ended 31 December 2020
## **Education**
The Institute of Medical Ethics supported the study of medical ethics in health care in a number of ways. These included: (i) a programme of (a) delivering the grants and awards scheme, providing bursaries or scholarships to medical students undertaking electives, special study modules, intercalated studies or internships, (b) institutional grants, in each case with a focus on health care ethics and (c) introducing a special institutional grant category to support sustainable educational activities; As a result of the pandemic the total expenditure for 2020 was less than in recent years (ii) an essay competition for Foundation Doctors; (iii) a one-day Student Conference held in Leeds (iv) planning for online conferences in January and July 2021 plus a suite of online seminars.
## **Research**
The Institute continued to be engaged in medical ethics research, gathering further information about the core content and methods of medical ethics learning, teaching and assessment in the UK and Europe. Members of the Institute's Board of Trustees continued to provide information and assistance on issues related to medical ethics to scholars and the media. The committee aims to build a community of clinical and academic scholars and integrate undergraduate and postgraduate students into this community.
## **Publication**
In partnership with the BMJ Publishing Group, the Institute continued to publish the Journal of Medical Ethics and Medical Humanities. JME has twelve issues per annum and is amongst the most frequently cited medical ethics specialist journals. John McMillan and his team continue to receive an increasing number of papers submitted for publication from authors worldwide. Medical Humanities continues to build upon its previous achievements with Brandy Schillace as Editor-in-Chief, taking the journal forwards with increasing financial success. During 2020 the journals made accepted articles related to the pandemic open access without any charge to society as a whole.
## **Financial review**
The principal funding source of the Institute is from the partner share of the journals Medical Humanities and Journal of Medical Ethics. Income from charitable activities which includes membership and journal income has decreased from £249,715 in 2019 to £240,715 this year. Income from events dropped significantly due to the pandemic forcing cancellation of planned conferences.
The net movement in funds for the year was a surplus of £74,054 (2019: £39,693), as shown in the statement of financial activities.
4
## Institute of Medical Ethics
## Trustees’ annual report
## for the year ended 31 December 2020
## Reserves policy
It is the Governing Body's policy to maintain adequate reserves to enable the Institute to meet any unforeseen costs or to cover any shortfall in expected income.
The level of reserves is monitored and reviewed annually by the officers and members. Unrestricted Reserves at the year end amounted to £838,974 [with an additional £14,900 restricted funds reserved for use on the Lewis W Headley Lecture (by the terms of the donation) and £2,103 on the Robert Hillman bequest restricted for that essay prize]. Members regard these reserves as adequate to fund the development of the Institute’s educational activities in 2021 in the current context of uncertain future income from publication of the journals, and uncertain performance of its investments. _._
## **Structure, governance and management**
The Trustees are elected by the Members at the Annual General Meeting. In accordance with the Articles of Association Trustees serve a five year term or office and may serve two consecutive terms _._
The officers are elected by the trustees on an annual basis at the meeting immediately following the Annual General Meeting.
The organisation is a charitable company limited by guarantee, incorporated on 21st July 1970 and registered as a charity on 2 February 1971.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 11 to the accounts.
## **Funds held as custodian trustee on behalf of others**
The IME has not acted as custodian trustee during the reporting period.
5
## Institute of Medical Ethics
## Trustees’ annual report
## for the year ended 31 December 2020
## Statement of responsibilities of the trustees
The trustees (who are also directors of Institute of Medical Ethics for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.
The trustees’ annual report has been approved by the trustees on 14/09/2021 and signed on their behalf by
Rev B Vernon
Treasurer
6
## Independent examiner’s report
## to the trustees of
## Institute of Medical Ethics
I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] December 2020 which are set out on pages 8 to 24.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jennifer Daniel FCCA DChA
Slade & Cooper Limited Beehive Mill, Jersey Street Manchester, M4 6JG
Date 23/09/2021
7
## Institute of Medical Ethics
## Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 December 2020
|Unrestricted
funds
Note
£
**Income from:**
Charitable activities:
3
242,377
4
-
Investments
5
10,130
**Total income**
**252,507**
**Expenditure on:**
Charitable activities
6
178,453
**Total expenditure**
**178,453**
9
**74,054**
Transfer between funds
-
**Net movement in funds for the year**
**74,054**
**Reconciliation of funds**
Total funds brought forward
764,900
**Total funds carried forward**
**838,954**
Other income
**Net income/(expenditure) for the**
**year**|Restricted
funds
£
-
-
-
**-**
-
**-**
**-**
-
**-**
17,003
**17,003**|Total funds
2020
£
242,377
-
10,130
**252,507**
178,453
**178,453**
**74,054**
-
**74,054**
781,903
**855,957**|_Total funds_
_2019_
_£_
_249,920_
_4,842_
_30,918_|
|---|---|---|---|
||||**_285,680_**|
||||_245,987_|
||||**_245,987_**|
||||**_39,693_**
_-_|
||||**_39,693_**
_742,120_|
||||**_781,903_**|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
8
## Institute of Medical Ethics Company number 00985158
## Balance sheet as at 31 December 2020
|Note
£
£
**Fixed assets**
Tangible assets
13
4,188
Investments
14
339,326
**Total fixed assets**
**343,514**
**Current assets**
Debtors
15
234,094
Cash at bank and in hand
16
291,498
**Total current assets**
**525,592**
**Liabilities**
Creditors: amounts falling
due in less than one year
17
(13,149)
**Net assets**
**855,957**
**The funds of the charity:**
Restricted income funds
18
17,003
Unrestricted income funds
19
838,954
**Total charity funds**
**855,957**
2020|_£_
_£_
_4,069_
_320,052_
**_324,121_**
_230,591_
_236,373_
**_466,964_**
_(9,182)_
**_781,903_**
_17,003_
_764,900_
**_781,903_**
_2019_|_£_
_£_
_4,069_
_320,052_
**_324,121_**
_230,591_
_236,373_
**_466,964_**
_(9,182)_
**_781,903_**
_17,003_
_764,900_
**_781,903_**
_2019_|
|---|---|---|
|||**_324,121_**|
|||**_781,903_**|
|||_17,003_
_764,900_|
|||**_781,903_**|
For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006,
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and in accordance with FRS102 SORP, and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes on pages 10 to 24 form part of these accounts.
Approved by the trustees on 14/09/2021 and signed on their behalf by:
Rev B Vernon (Treasurer)
9
Institute of Medical Ethics
Notes to the accounts for the year ended 31 December 2020
## **1 Accounting policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The charity has applied the exemption available to small charities in the Charities SORP (FRS 102) and does not include a Statement of Cash Flows in these Financial Statements.
Institute of Medical Ethics meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b Preparation of the accounts on a going concern basis**
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. There are no key judgments which the trustees have made which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
10
Institute of Medical Ethics
Notes to the accounts for the year ended 31 December 2020 (continued)
## **c Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## **d Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
11
Institute of Medical Ethics
Notes to the accounts for the year ended 31 December 2020 (continued)
## **f Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **g Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity and their associated support
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities.
## **i Operating leases**
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
## **j Tangible fixed assets**
Individual fixed assets costing £400 or more are capitalised at cost and are depreciated over their estimated useful economic lives on the following basis:
Fixtures and fittings 33% Straight line Office equipment 25% Reducing balance
12
Institute of Medical Ethics
Notes to the accounts for the year ended 31 December 2020 (continued)
## **k Fixed asset investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
## **l Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **m Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **n Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **o Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
13
Institute of Medical Ethics
Notes to the accounts for the year ended 31 December 2020 (continued)
## **p Pensions**
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 10. There were no outstanding contributions at the year end.
## **2 Legal status of the charity**
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.
14
Institute of Medical Ethics
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **3 Income from charitable activities**
|2020
£
Membership and Journal of Medical Ethics
240,715
Miscellaneous Income
1,662
**Total**
242,377
**4**
**Other income**
2020
£
Conference income
-
-
All income from other trading activities is unrestricted.|_2019_
_£_
_249,920_
_-_|
|---|---|
||249,920|
||_2019_
_£_
_4,842_|
||_4,842_|
|||
## **5 Investment income**
|**Investment income**|||
|---|---|---|
|Income from investments and bank deposits|2020
£
10,130
10,130|_2019_
_£_
_30,918_|
|||_30,918_|
All of the charity's investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.
15
## Institute of Medical Ethics
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **6 Analysis of expenditure on charitable activities**
|£
Staff costs
21,659
Conference costs
-
Meeting & travel costs
-
Advertising
-
_Miscellaneous expenses_
21,659
23,525
41,199
4,093
90,476
Unrestricted funds
90,476
Restricted funds
-
_90,476_
_Total 2020_
Education,
research,
community of
teachers &
organisational
development
Grant funding of
activities (see note 7)
Share of support costs
(see note 8)
Share of governance
costs (see note 8)
**Total**
**Analysis by fund**|£
14,333
-
-
-
14,333
-
27,466
-
41,799
41,799
-
_41,799_
Grants &
membership|£
514
-
-
-
514
-
981
-
1,495
1,495
-
_1,495_
Regional
groups|£
5,806
-
-
-
5,806
-
9,809
-
15,615
15,615
-
_15,615_
Postgrade
student
committee
& Student
activity|£
7,527
-
-
-
7,527
-
13,733
-
21,260
21,260
-
_21,260_
Staff|£
2,903
-
-
-
2,903
-
4,905
-
7,808
7,808
-
_7,808_
JME40
Conference
& ICCEC|_Total_
_2020_
£
52,742
-
-
-
52,742
23,525
98,093
4,093
178,453
178,453
-
_178,453_|_Total_
_2019_
_£_
_52,729_
_51,525_
_400_
_180_
_2,795_|
|---|---|---|---|---|---|---|---|
||||||||_107,629_
_48,256_
_86,446_
_3,656_|
||||||||_245,987_|
||||||||_244,837_
_1,150_|
||||||||_245,987_|
16
## Institute of Medical Ethics
## Notes to the accounts for the year ended 31 December 2020 (continued)
## _**6 Analysis of expenditure on charitable activities Previous reporting period**_
|_Staff costs_
_Conference costs_
_Meeting & travel costs_
_Advertising_
_Miscellaneous expenses_
_Unrestricted funds_
_Restricted funds_
_Share of support costs_
_(see note 8)_
_Share of governance_
_costs (see note 8)_
**_Total_**
_Total 2019_
_Grant funding of_
_activities (see note 7)_
**_Analysis by fund_**|_£_
_20,626_
_35,363_
_-_
_-_
_2,733_
_58,722_
_48,256_
_48,692_
_3,656_
_159,326_
_158,176_
_1,150_
_159,326_
_Education,_
_research,_
_community of_
_teachers &_
_organisational_
_development_|_£_
_11,521_
_-_
_-_
_-_
_-_
_11,521_
_-_
_7,842_
_-_
_19,363_
_19,363_
_-_
_19,363_
_Grants &_
_membership_|_£_
_512_
_-_
_-_
_-_
_56_
_568_
_-_
_145_
_-_
_713_
_713_
_-_
_713_
_Regional_
_groups_|_£_
_2,891_
_12,492_
_350_
_180_
_-_
_15,913_
_-_
_13,731_
_-_
_29,644_
_29,644_
_-_
_29,644_
_Postgrade_
_student_
_committee_
_& Student_
_activity_|_£_
_5,630_
_-_
_-_
_-_
_-_
_5,630_
_-_
_8,672_
_-_
_14,302_
_14,302_
_-_
_14,302_
_Staff_|_£_
_11,549_
_3,670_
_50_
_-_
_6_
_15,275_
_-_
_7,364_
_-_
_22,639_
_22,639_
_-_
_22,639_
_JME40_
_Conference_
_& ICCEC_|_Total_
_2019_
_£_
_52,729_
_51,525_
_400_
_180_
_2,795_
_107,629_
_48,256_
_86,446_
_3,656_
_245,987_
_244,837_
_1,150_
_245,987_|_Total_
_2018_
_£_
_52,977_
_89,525_
_51,338_
_1,548_
_-_|
|---|---|---|---|---|---|---|---|---|
|||||||||_195,388_
_33,462_
_79,563_
_3,699_|
|||||||||_312,112_|
|||||||||_281,829_
_30,283_|
|||||||||_312,112_|
17
## Institute of Medical Ethics
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **7 Grants payable**
|Grants to institutions:
Grants to individuals
**Education, research, community of teachers &**
**organisational development**|2020
£
1,243
22,282
23,525|_2019_
£
11,047
37,209|
|---|---|---|
|||48,256|
|**8**
**Analysis of governance and support costs**
**Current reporting period**
Staff costs
Depreciation
Conference costs
Meeting & traveling costs
Office expenses
Prizes and awards
Literature & brochures
Accountancy
**_Previous reporting period_**
_Staff costs_
_Depreciation_
_Conference costs_
_Meeting & traveling costs_
_Office expenses_
_Prizes and awards_
_Literature & brochures_
_Accountancy_|Support
£
16,686
938
2,810
4,935
58,373
200
14,150
-
98,092
_Support_
_£_
_14,888_
_1,376_
_-_
_32,782_
_22,499_
_347_
_14,554_
_-_
_86,446_|Governance
£
-
-
-
-
-
4,093
4,093
_Governance_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_3,656_
_3,656_|_Total 2020_
£
16,686
938
2,810
4,935
58,373
200
14,150
4,093|
|---|---|---|---|
||||102,185|
||||_Total 2019_
_£_
_14,888_
_1,376_
_-_
_32,782_
_22,499_
_347_
_14,554_
_3,656_|
||||_90,102_|
18
## Institute of Medical Ethics
Notes to the accounts for the year ended 31 December 2020 (continued)
## **9 Net income/(expenditure) for the year**
This is stated after charging/(crediting):
|This is stated after charging/(crediting):
Depreciation
Independent examiner - accountancy fees
**Staff costs**
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
**Allocated as follows:**
Charitable activities
Support costs|2020
£
938
4,093
2020
£
60,462
5,789
3,177
69,428
52,742
16,686
69,428|_2019_
_£_
1,413
3,656|
|---|---|---|
|||_2019_
_£_
_65,592_
_1,252_
_773_|
|||_67,617_|
|||_52,729_
_14,888_|
|||_67,617_|
## **10 Staff costs**
No employees has employee benefits in excess of £60,000 (2019: Nil).
The average number of staff employed during the period was 2.08 (2019: 2).
The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £46,501 (2019: £44,310).
19
Institute of Medical Ethics
Notes to the accounts for the year ended 31 December 2020 (continued)
## **11 Trustee remuneration and expenses, and related party transactions**
Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2019: Nil).
3(No)trustees received travel and subsistence expenses during the year of £200 (2019:£nil).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2019: nil).
## **12 Corporation tax**
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
## **13 Fixed assets: tangible assets**
|**Cost**
Additions
Disposals
**Depreciation**
Charge for the year
Disposals
**Net book value**
_At 31 December 2019_
At 1 January 2020
At 31 December 2020
At 31 December 2020
At 1 January 2020
At 31 December 2020|Fixtures &
fittings
£
185
-
-
185
180
1
-
181
4
_5_|Office
equipment
£
15,635
1,057
-
16,692
11,571
937
-
12,508
4,184
_4,064_|£
15,820
1,057
-
Total|
|---|---|---|---|
||||16,877|
||||11,751
938
-|
||||12,689|
||||4,188|
||||_4,069_|
20
Institute of Medical Ethics
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **14 Investments**
|Add: additions to investments at cost
Add net gain/(loss) on revaluation
Investments are all carried at fair value.
**15**
**Debtors**
Trade debtors
Other debtors
Prepayments and accrued income
**16**
**Cash at bank and in hand**
Cash at bank and on hand
**17**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors and accruals
Taxation and social security costs
Market value at the end of the year
Market value at the start of the year|2020
£
320,052
-
19,274
339,326
2020
£
224,925
7,597
1,572
234,094
2020
£
291,498
291,498
2020
£
5,633
3,251
4,265
13,149|_2019_
_£_
_161,545_
_127,589_
_30,918_|
|---|---|---|
|||_320,052_|
|||_2019_
_£_
_224,927_
_4,146_
_1,518_|
|||_230,591_|
|||_2019_
_£_
_236,373_|
|||_236,373_|
|||_2019_
_£_
_6,769_
_2,413_
_-_|
|||_9,182_|
21
Institute of Medical Ethics
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **18 Analysis of movements in restricted funds**
|Total
Total
**Name of**
**restricted fund**
**Previous reporting**
**period**
Lewis W Headley Lecture
Robert Hillman Bequest
Lewis W Headley Lecture
Robert Hillman Bequest
Wellcome Trust
**Current reporting**
**period**|Balance
at 1
January
2020
Income
Expenditure
Transfers
£
£
£
£
2,103
-
-
-
14,900
-
-
-
17,003
-
-
-
Balance
at 1
January
2019
Income
Expenditure
Transfers
£
£
£
£
2,653
-
(550)
-
15,500
-
(600)
-
-
-
-
18,153
-
(1,150)
-
**Description, nature and purposes of the fund**|Balance at
31
December
2020
£
2,103
14,900|
|---|---|---|
|||17,003|
|||Balance at
31
December
2019
£
2,103
14,900
-|
|||17,003|
||||
Robert Hillman Bequest The Robert Hillman Bequest is restricted for that of eassay prize.
Lewis W Headley Lecture This fund is restricted for use on the Lewis W Headley Lecture.
22
Institute of Medical Ethics
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **19 Analysis of movement in unrestricted funds**
|General fund
**Name of**
**unrestricted fund**
General fund
General fund
**Current reporting**
**period**
**Previous reporting**
**period**|Balance
at 1
January
2020
Income
Expenditure
Transfers
£
£
£
£
764,900
252,507
(178,453)
-
764,900
252,507
(178,453)
-
at 1
January
2019
Income
Expenditure
Transfers
£
£
£
£
723,967
285,680
(244,747)
-
723,967
285,680
(244,747)
-
**Description, nature and purposes of the fund**
The free reserves after allowing for all designated funds|Balance at
31
December
2020
£
838,954|
|---|---|---|
|||838,954|
|||31
December
2019
£
764,900|
|||764,900|
||||
23
Institute of Medical Ethics
## Notes to the accounts for the year ended 31 December 2020 (continued)
## **20 Analysis of net assets between funds**
|**Current reporting period**
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total
**Previous reporting period**
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Creditors of more than one year
Total|General
fund
£
4,188
339,326
495,440
838,954
General
fund
£
4,069
320,052
440,779
-
764,900|Designated
funds
£
-
-
-
Designated
funds
£
-
-
-
-|Restricted
funds
£
-
17,003
17,003
Restricted
funds
£
-
17,003
-
764,900|Total
£
4,188
339,326
512,443|
|---|---|---|---|---|
|||||855,957|
|||||Total
£
4,069
320,052
457,782
-|
|||||781,903|
24