**Charity Registration No. 262584**
## **THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2021**
## **THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr P J Hambly Ms D L Sweetman Mr A P Carter **Charity number** 262584 **Independent examiner** MMP Limited 64 High Street Broadstairs Kent England CT10 1JT
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 15|
## **THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
The trustees present their report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The charity's objects are :-
- To establish and maintain a school for the training and education of students of medical herbalism, giving both lectures In theoretical aspects and demonstrations In practical training.
- To provide post-graduate courses In herbal medicine and allied disciplines.
- To establish and maintain research facilities In the science of herbal medicine, for the purpose of investigating and evaluation the therapeutic claims of herbal remedies, examining herbal constituents and pharmacological action, preparing clinical trials of herbal remedies and publishing the resulting information to herbal practitioners and the public.
- To establish scholarships and studentships In medical herbal research and to support research programmes In plant remedies and their action, and to maintain and enlarge a library of books and documents on medical herbalism and cognate subjects, and provide a reading room open to the public for the consultation of the available books and documents and ancillary library services such as copying facilities, Indexing and extracting.
The trustees may apply out of the Income of the charity such a sum In any year as they think fit In awarding scholarships and grants to persons who are attending any school or other educational establishment for the purpose of studying herbal medicine or who are engaged In research In herbal medicine and who are In need of financial assistance. The Dorothy Carroll awards are presented annually to the student who achieves the highest result in the clinical examination.
## **Public benefit**
The main activity of the charity furthers public benefit through:
- Supporting bodies that educate the public In the use of herbs as a means of maintaining health.
- Teaching the public directly through the provision of the 'Foundation Course In Herbal Medicine' via Heartwood
College.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
- 1 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Achievements and performance**
## **Charitable activities**
This financial year has seen the charity continue i t ' s support of our education project, Heartwood, and has been the main activity for this year. After four years we have had over 1,0 00 students. This number comprises of mostly Foundation level students with numbers of this and Professional students still far above prediction. Both courses are taking their maximum number In each cohort. We are currently working towards an MSc to be taking students a large number have already expressed an Interest In this course.
The Foundation course Is a one--year course see https://heartwood-uk.net/home/fc It consists of 12 units offering a broad Introduction to the field of Herbal Medicine. Video presentations are augmented by real-time monthly web inars comprehensive PDF guides, and a variety of other learning materials ( including a booklet on "Herbal Medicine and First Aid").
The Professional 3-year online course offers an In-depth education In Herbal Medicine accredited by the National Institute of Medical Herbalists and consisting of approximately 3,600 hours of taught and directed study over 3 years, divided i nto 12 modules. It Is rooted In the understanding that an authentic herbal medicine course must transcend the biomedical model and support the growing body of knowledge of the healing power of plants. Please see https:// heartwood-uk.net/home/pc for full details.
The Foundation and Professional course are completed i n the material being recorded and edited.
There are also post-graduate courses offered to practitioners belonging to all the main professional registers of medical herbalists. Heartwood post-graduate Continuing Professional Development presentations are based on the principle that the strength of any profession comes from the depth and currency of Its knowledge. Presented by acknowledged subject specialists, the online lectures are underpinned by downloadable text flies, slide presentations and mind-maps to help make the lea r ning process as efficient as possible. The presentations are offered free to qualified medical herbalists, and at low cost to practitioners of other alternative and complementary medical disciplines .
Our B io dynamic Botanic Garden at Emerson College Forest Row, East Sussex Is developing well. We have strong links with Kew gardens and are helping to produce plant Information PDFs for them to use on QR codes. We are forging links to Oxford University with their huge wealth of data of herbar i ums. A visit from and to The Balkan Botanic Garden at Krouss i a was very useful. Our students will be able to travel there to conduct research.
The garden has a dedicated medicinal area as well as established gardens. This offers a public face to the Heartwood courses and will help to conserve and propagate some of the rare and endangered medicinal plants that herbalists like to use. The garden Is a member of the Botanic Gardens Conservation International.
Our library continues to grow thanks to generous donations from other academic Institutions and Individuals now comprises almost 5,000 titles. It Is being catalogued with professional library software to make online and onsite searches as easy as possible. This facility Is opened by appointment.
The charity will continue to support other good causes In the medical herbalism field.
The new Charitable Incorporated Organisation i s set up and we are awaiting the transfer of assets from this charity to the new CIO during this coming financial year.
The charity generated Investment Income In the year of £ 6,513 (20 20 - £ 8,481 ).
- 2 -
## **THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Financial review**
The trustees have, for the year ended 31 December 20 21 received Income available at their disposal of £ 871,255 (2020 : £633,045) .
T he reserves held at the balance sheet date are:-
Unrestricted funds £ 306,298 (20 20 : £ 103,533 ).
Restricted funds £ 1,775 (20 20 : £1, 750 ).
Endowment funds £ 240,762 (20 20 : £ 227,431 ).
It i s the policy of the charity that unrestricted funds which have not been designated for, a specific use should be maintained at a level from which sufficient Income can be generated to meet six to twelve months' expenditure. The trustees consider that the reserves at this level will ensure that, In the event of a significant drop In funding, they will be able to continue the charity's current activities while a consideration Is given to ways In which additional funds may be raised. Given the Investments undertaken with Quilter Cheviot the trustees will review the reserve policy and free reserve position at 31December 20 21 .
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
To set up an online learning and CPD facility.
## **Structure, governance and management**
T he charity i s controlled by Its governing document, a deed of trust and constitutes an unincorporated charity.
T he charity was established by a charitable trust deed on 26 April 1971. It Is a registered charity and the number Is 262584.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr P J Hambly
Ms D L Sweetman
Mr A P Carter
T he Trustees are appointed for a term of five years by a resolution of the Trustees passed at a special meeting of which not less than 21 day's notice has been given. T hey may be appointed not more than one month before the term of an existing Trustee expires with effed: from the date of expiry.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the company's contractual and other legal obligations.
The charity Is administered by the Trustees who normally meet at least twice a year. A minimum of three trustees Is required In order to form a quorum. No specific restrictions are Imposed by the governing document concerning the way that the charity can operate.
- 3 -
## **THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **TRUSTEES' REPORT (CONTINUED)**
_**FOR THE YEAR ENDED 31 DECEMBER 2021**_
The trustees' r eport was approved by the Board of Trustees.
## **Mr P J Hambly**
Trustee Dated: 1 April 2022
- 4 -
## **THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
I report to the trustees on my examination of the financial statements of The National Institute of Medical Herbalist Ltd Education Fund (the charity) for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’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.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 financial statements to be reached.
MMP Limited
64 High Street Broadstairs Kent CT10 1JT England
Dated: 1 April 2022
- 5 -
## **THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2021**
**2021**
**2021**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
500
-
-
Charitable activities
**4**
864,242
-
-
Investments
**5**
4
-
6,509
**Total income and endowments**
864,746
-
6,509
**Expenditure on:**
Raising funds
**7**
-
-
2,258
Charitable activities
**6**
670,094
-
-
Other
**11**
7,001
-
-
**Total resources expended**
677,095
-
2,258
Net gains/(losses) on investments
**12**
15,114
25
9,080
**Net movement in funds**
202,765
25
13,331
Fund balances at 1 January 2021
103,533
1,750
227,431
**Fund balances at 31 December 2021**
306,298
1,775
240,762|**Total**
Total
**2021**
2020
**£**
**£**
500
134,003
864,242
490,561
6,513
8,481
871,255
633,045
2,258
5,493
670,094
804,138
7,001
4,306
679,353
813,937
24,219
6,634
216,121
(174,258)
332,714
506,972
548,835
332,714|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 6 -
## **THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2021**_
|**2021**
**Notes**
**£**
**Fixed assets**
Tangible assets
**13**
Investments
**14**
**Current assets**
Debtors
**15**
44,411
Cash at bank and in hand
166,293
210,704
**Creditors: amounts falling due within one**
**year**
**16**
(193,415)
Net current assets/(liabilities)
**Total assets less current liabilities**
**Capital funds**
Endowment funds - general
**Income funds**
Restricted funds
Unrestricted funds|**2020**
**£**
**£**
**£**
550
1,100
530,996
451,684
531,546
452,784
3,198
88,239
91,437
(211,507)
17,289
(120,070)
548,835
332,714
240,762
227,431
1,775
1,750
306,298
103,533
548,835
332,714|
|---|---|
The financial statements were approved by the Trustees on 1 April 2022
Mr P J Hambly **Trustee**
- 7 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
The National Institute of Med i cal Herbalists Ltd Education Fund i s an unincorporated charity, registered In England & Wales. The charity's registered number and principal address can be found In the Report of the Trustees.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 8 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
**(Continued)**
Course Income received In advance Is recognised as deferred Income and released to the Statement of Financial Activities over the duration of the course provided.
## **1.5 Resources expended**
Liabilities are recognised as expenditure as soon as there i s a legal or constructive obligation committing the charity to that expenditure, It Is probable that a transfer of economic benefits w ill be required In settlement and the amount of the obligation can be measured reliably. Expenditure Is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Governance costs Include the costs which relate to the general running of the charity as opposed to the direct management function Inherent In generating funds, service delivery and program or project work.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.9 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 9 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**3**
**Donations and legacies**
**Unrestricted**
**funds**
**2021**
**£**
Donations and gifts
500
Legacies receivable
-
500
**4**
**Charitable activities**
**2021**
**£**
Foundation course
343,537
Whipps Cross
560
Professional course
518,145
Other income
2,000
864,242
**5**
**Investments**
**Unrestricted Endowment**
**Total**
**funds**
**funds**
**general**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Investment income
-
6,509
6,509
Interest receivable
4
-
4
4
6,509
6,513
**For the year ended 31 December 2020**
5,604
2,877|Total
2020
£
4,003
130,000|
|---|---|
||134,003|
||2020
£
164,651
800
311,794
13,316|
||490,561|
||Total
2020
£
8,419
62|
||8,481|
||8,481|
- 10 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **6 Charitable activities**
||||**Charitable**|**Charitable**|
|---|---|---|---|---|
||||**donations**|**donations**|
||||**2021**|**2020**|
||||**£**|**£**|
|Staff costs|||239,588|284,355|
|Charitable donations|||7,644|1,859|
|Heartwood cost of sales|||404,534|490,045|
|Examination prizes|||542|300|
|Library|||1,681|2,369|
||||653,989|778,928|
|Share of support costs (see note 8)|||12,136|20,810|
|Share of governance costs (see note 8)|||3,969|4,400|
||||670,094|804,138|
|**Raising funds**|||||
||**Endowment**|Unrestricted|Endowment|Total|
||**funds**|funds|funds||
||**general**||general||
||**2021**|2020|2020|2020|
||**£**|£|£|£|
|Investment management|2,258|3,352|2,141|5,493|
||2,258|3,352|2,141|5,493|
## **7 Raising funds**
- 11 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**8**
**Support costs**
**Support costs Governance**
**costs**
**£**
**£**
Depreciation
550
-
Insurance
1,886
-
Postage and stationery
-
-
Legal fees
1,504
-
Professional fees
5,324
-
Trustees expenses
-
-
Legal fees
478
-
Investment management charges
2,394
-
Independent examiners fee
-
3,900
Bank charges
-
69
12,136
3,969
Analysed between
Charitable activities
12,136
3,969|**2021**
**£**
550
1,886
-
1,504
5,324
-
478
2,394
3,900
69
16,105
16,105|2020
£
579
310
103
4,934
14,569
315
-
-
4,380
20|
|---|---|---|
|||25,210|
|||25,210|
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **10 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
||7|9|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|214,620|252,690|
|Social security costs|18,529|23,172|
|Other pension costs|6,439|8,493|
||239,588|284,355|
- 12 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **11 Other**
|**Unrestricted**
**funds**
**2021**
Financing costs
7,001
7,001|Total
2020
£
4,306|
|---|---|
||4,306|
## **12 Net gains/(losses) on investments**
|**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**general**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Revaluation of investments
-
-
7,653
Gain/(loss) on sale of investments
15,114
25
1,427
15,114
25
9,080
**For the year ended 31**
**December 2020**
(4,107)
(57)
10,798
**Tangible fixed assets**
**Cost**
At 1 January 2021
At 31 December 2021
**Depreciation and impairment**
At 1 January 2021
Depreciation charged in the year
At 31 December 2021
**Carrying amount**
At 31 December 2021
At 31 December 2020|**Total**
Total
**2021**
2020
**£**
£
7,653
(23,063)
16,566
29,697
24,219
6,634
6,634
**Computers**
**£**
4,557
4,557
3,457
550
4,007
550
1,100|
|---|---|
## **13 Tangible fixed assets**
- 13 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|**14**
**Fixed asset investments**
**Listed**
**investments**
**Unlisted**
**investments**
**£**
**£**
**Cost or valuation**
At 1 January 2021 & 31 December 2021
80
451,604
**Carrying amount**
At 31 December 2021
80
451,604
At 31 December 2020
80
451,604
**15**
**Debtors**
**2021**
**Amounts falling due within one year:**
**£**
Trade debtors
33,507
Other debtors
5,774
Prepayments and accrued income
5,130
44,411
**16**
**Creditors: amounts falling due within one year**
**2021**
**Notes**
**£**
Other taxation and social security
6,753
Deferred income
**17**
-
Trade creditors
164,058
Other creditors
2,523
Accruals and deferred income
20,081
193,415
**17**
**Deferred income**
**2021**
**£**
Other deferred income
-|**Total**
**£**
451,684|
|---|---|
||451,684|
||451,684|
||**2020**
**£**
-
923
2,275|
||3,198|
||**2020**
**£**
6,698
164,752
17,964
2,431
19,662|
||211,507|
||**2020**
**£**
164,752|
- 14 -
**THE NATIONAL INSTITUTE OF MEDICAL HERBALIST LTD EDUCATION FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **18 Analysis of net assets between funds**
|**Unrestricted**
**Restricted Endowment**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Fund balances at 31 December
2021 are represented by:
Tangible assets
550
-
-
Investments
530,996
-
-
Current assets/(liabilities)
17,289
-
-
548,835
-
-|**Total**
Total
**2021**
2020
**£**
£
550
1,100
530,996
451,684
17,289
(120,070)
548,835
332,714|
|---|---|
## **19 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none).
- 15 -