REGISTERED CHARITY NUMBER: 0264173
Report of the Trustees and
Unaudited Financial Statements
For The Year Ended 31 December 2022
for The British Society for Oral and Dental Research
TC Bromhead Limited Harscombe House 1 Darklake View Plymouth Devon PL6 7TL
The British Society for Oral and Dental Research
Contents of the Financial Statements For The Year Ended 31 December 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
The British Society for Oral and Dental Research
Reference and Administrative Details For The Year Ended 31 December 2022
TRUSTEES Dr A Alavi (resigned 1.11.24) Dr Z Brookes Professor P Anderson Professor T Watson PRINCIPAL ADDRESS Rooms 2:20:5 Bancroft Building Queen Mary University of London Mile End Road London E1 4NS REGISTERED CHARITY NUMBER 0264173 INDEPENDENT EXAMINER TC Bromhead Limited Harscombe House 1 Darklake View Plymouth Devon PL6 7TL INVESTMENT MANAGERS Evelyn Partners 45 Gresham Street London EC2V 7BG BANKERS Natwest Bank Plc 10 Southwark Street London SE1 1TJ
Page 1
The British Society for Oral and Dental Research
Report of the Trustees For The Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives and activities of the Society are as follows:
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To advance research and increase knowledge for the improvement of oral health in the United Kingdom.
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To support and represent the oral health research community in the UK.
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To encourage early career researchers, with dental and/or science qualifications, to be involved in oral and dental
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research
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To facilitate the dissemination and application of research findings relating to oral health and interactions between oral and systemic health.
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To foster the development of international research collaboration through the International Association for Dental Research and its Federations.
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To promote public engagement and inform of key issues in oral and dental research.
The objectives and activities of the charity are aimed at improving the oral and dental health of the public through the promotion of advanced research in all branches of dental science. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Society's objectives and activities and in planning future activities.Through research, the aim of the society is to disseminate advances in clinical and scientific research in oral health to members of the dental profession and beyond to improve oral health.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The aim of the Society is to promote oral and dental research throughout the UK. A key objective is to support those in training and to enable them to present their research at the annual meeting and other bespoke events organised by the society. BSODR Annual meetings occur in the UK (every 2 years), or in Europe, PER (Pan European Region) organised by IADR (International Association for Dental Research) . BSODR also provides funding for bursaries for early career researchers and students to attend these meetings. The funding is dependent on the number of applications received.
FINANCIAL REVIEW
Financial position
The Society's work is reliant on income from membership subscriptions, awards, donations and investments. In the year to 31 December 2022, income from member subscriptions was £16,154 as a result of an increase in membership numbers. Donations and legacies increased in total by £26,247. This was principally due to no prizes being received last year. During 2022, charitable expenditure increased by £14,968 in line with prizes being paid out this year. The Society had net outgoings of £40,225 (2021: net incomings of £59,113).
The investments held by the Society at 31 December 2022 decreased in market value by £56,024 compared to the previous year end. Income from current investments increased to £8,263 from £7,101 in the previous year.
Investment policy and objectives
The investments held by the charity are managed by Evelyn Partners and an amount is held on deposit with NatWest bank. The performance of the investments is reviewed regularly by the Management Committee. The investments held by the charity fall within those permitted by the charity's constitution.
Reserves policy
The BSODR Management Committee have a policy of maintaining sufficient level of reserves to enable the charity to fulfil its objectives. Restricted reserves of £5,457 are for BSODR prizes, bursaries and sponsorships where the amounts are funded by a third party. More details of the prizes held in restricted funds can be found in note 11. Restricted reserves of £11,800 are for Colgate prizses not yet paid out to the winners.
Designated reserves brought forward of £2,000 are to be used towards Early Career Research Awards.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
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The British Society for Oral and Dental Research
Report of the Trustees For The Year Ended 31 December 2022
FUTURE PLANS
The Society continues to promote and support oral and dental research. The Management Committee have had several discussions on how best to use more of its funds in subsequent years. Amongst other initiatives, the committee is intending to offer two awards specifically aimed at supporting and rewarding early career researchers and is committed to supporting these awards financially.
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The BSODR Presidents Award for Early career researchers is to continue. It is intended to identify future highflyers. It will be awarded annually, and the recipients are expected to give a presentation at next BSODR scientific meeting and will be reimbursed up to £350 for travel and accommodation expenses. The prize of £1,000 is to be used to help establish pilot or collaborative research studies.
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Early Career Research (ECR) Travel Bursary is intended to enable ECRs to travel to BSODR ECR events at a cost of £150 per bursary. The BSODR management committee have reviewed the number of applicants and cost, including event venue support held at academic institutes.
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BSODR is committed to engage with and have a presence at BDSA (British Society of Dental Students) annual conferences to promote undergraduate dental research in UK.
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BSODR also intends to initiate BSODR Network events to seed collaborations within the UK to promote/seed collaborations between society members within UK. Funding required to organise, travel and administrative costs are reviewed.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Society is a charity regulated by the Charities Commission of the United Kingdom. The Society was registered on 10 July 1972. Its constitution, detailing the objects, membership rules, organisation, management, the annual meeting, Officers and council was adopted on 6 April 1972 and this was amended on 11 September 2008, 10 September 2013 and 10 September 2020. A copy of this can be found on the Society website, BSODR - The British Society for Oral and Dental Research.
The Governing Body of the Society shall be the Annual Business Meeting (ABM) of members. The decisions made at the ABM will be implemented by the Management Committee. Decisions required due to ad interim contingencies shall be made by the Management Committee and must be reported to the next ABM. The quorum at the ABM shall be 30. Resolutions presented to any ABM shall be decided by simple majority unless otherwise stated.
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The British Society for Oral and Dental Research
Report of the Trustees For The Year Ended 31 December 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
Management Committee
The trustees of the charity are part of a larger team known as the BSODR Management Committee. The Management Committee shall normally consist of the President, President-Elect or Immediate-past President, Honorary Secretary, Honorary Assistant Secretary, Honorary Treasurer, Honorary Assistant Treasurer, Honorary Editor, Webmaster, Chair of the Awards Committee and six Councillors. It shall meet at least once a year.
The Officers of the Society (President, President-Elect or Immediate-past President, Honorary Secretary and Honorary Treasurer) shall act as an executive group in the intervals between formal meetings of the Management Committee.
Election
All members of the Management Committee must be full members of the Society. Election of the Committee members, including the President, will be based on a simple majority vote undertaken by full members of the BSODR.
Nominations
The Honorary Secretary will circulate a call for nominations for the Officers of the Society and for vacant positions as Councillor not less than 3 months prior to the ABM. Nominations should normally be received by the Honorary Secretary 2 months before the ABM. Ballots will be sent electronically to the membership at least 4 weeks before the ABM. The ballot will close 1 week before the ABM. The results of the ballot will be announced at the ABM. Individuals wishing to stand for such posts must:
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Be BSODR members of good standing,
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Be proposed and seconded for the post by 2 other members of good standing,
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Sign a declaration of their willingness to serve the Society.
Trustee induction and training
On appointment, new trustees spend time with existing trustees to ensure they understand their responsibilities and the legal and financial framework of the Society.
President
The Presidential term of office will be 5 years, holding the offices of President-Elect for one year, President for 2 years and Immediate-past President for 2 years.
Other Officers
Honorary Secretary, Honorary Assistant Secretary, Honorary Treasurer, Honorary Assistant Treasurer, Webmaster, Honorary Editor and Chair of the Awards Committee: The term of office for each shall be 1 year renewable.
Councillors
The term of office of a Councillor shall be three years. Members may not serve as Councillors for directly consecutive terms. Two Councillors shall be replaced each year. In the event that a Councillor demits office after less than 3 years of service, their successor shall serve for the remainder of their term of office, plus 3 years in their own right.
Ad interim vacancies
Any position becoming vacant between ABMs shall be filled by an appointee of the Management Committee who will serve for the remaining term of that appointment.
Risk management
The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.
The trustees consider variability of investment returns to constitute financial risk and recent extreme volatility in world stock markets has demonstrated this risk. The charity have appointed Evelyn Partners now, an investment Management company to manage its investments.
The trustees consider a main strategic risk to be the extent to which the research BSODR supports and advocates, support for early career researchers and its student awards successfully advance knowledge and practice for the benefit of improvements in oral health. This risk is actively discussed and shared with the management committee who meet regularly and evaluate update and profile of all research activities supported by the association and discuss future plans.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Dr Z Brookes - Trustee
Page 4
Independent Examiner's Report to the Trustees of The British Society for Oral and Dental Research
I report to the trustees on my examination of the financial statements of The British Society for Oral and Dental for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity's financial statements carried out under section 145 of the Charities Act 2011 (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
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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements 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
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the financial statements 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
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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 financial statements to be reached.
James Groves FCA
TC Bromhead Limited Harscombe House 1 Darklake View Plymouth Devon PL6 7TL
Date: .............................................
Page 5
The British Society for Oral and Dental Research
Statement of Financial Activities For The Year Ended 31 December 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 16,975 Investment income 3 8,263 Total 25,238 EXPENDITURE ON Raising funds 4 2,570 Charitable activities Charitable Activities 13,867 Total 16,437 Net gains/(losses) on investments (60,826) NET INCOME/(EXPENDITURE) (52,025) RECONCILIATION OF FUNDS Total funds brought forward 581,067 TOTAL FUNDS CARRIED FORWARD 529,042 |
Restricted funds £ 17,600 - 17,600 - 5,800 5,800 - 11,800 5,457 17,257 |
31.12.22 31.12.21 Total Total funds funds £ £ 34,575 8,328 8,263 7,101 42,838 15,429 2,570 2,497 19,667 10,638 22,237 13,135 (60,826) 56,819 (40,225) 59,113 586,524 527,411 546,299 586,524 |
31.12.22 31.12.21 Total Total funds funds £ £ 34,575 8,328 8,263 7,101 42,838 15,429 2,570 2,497 19,667 10,638 22,237 13,135 (60,826) 56,819 (40,225) 59,113 586,524 527,411 546,299 586,524 |
|---|---|---|---|
| 15,429 | |||
| 2,497 10,638 |
|||
| 13,135 | |||
| 56,819 | |||
| 59,113 527,411 |
|||
| 586,524 |
The notes form part of these financial statements
Page 6
The British Society for Oral and Dental Research
Balance Sheet 31 December 2022
| Notes FIXED ASSETS Investments 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 405,759 12,709 139,008 151,717 (28,434) 123,283 529,042 529,042 |
Restricted funds £ - - 17,257 17,257 - 17,257 17,257 17,257 |
31.12.22 Total funds £ 405,759 12,709 156,265 168,974 (28,434) 140,540 546,299 546,299 529,042 17,257 546,299 |
31.12.21 Total funds £ 461,783 8,157 148,468 156,625 (31,884) 124,741 586,524 586,524 581,067 5,457 586,524 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
Z Brookes - Trustee
The notes form part of these financial statements
Page 7
The British Society for Oral and Dental Research
Notes to the Financial Statements For The Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
The following specific policies are applied to particular categories of income:
Donations and legacies are received by way of prize monies, donations and gifts and are included in full in the Statement of Financial Activities when receivable.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of service provided by volunteers has not been included in these financial statements.
Investment income is included when receivable.
An annual subscription fee is received from all members of the Society and is recognised when receivable over the term in which the membership relates.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will 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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Financial instruments
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price. The British Society for Oral and Dental Research only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially measured at transaction value and subsequently measured at their settlement value.
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The British Society for Oral and Dental Research
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
1. ACCOUNTING POLICIES - continued
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. 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. Investments are measured at fair value.
Realised gains or losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the charities 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, if the revision effects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
No significant judgements have been made by management in preparing these financial statements.
3. INVESTMENT INCOME
4.
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Dividends from investments | 6,866 | 5,973 |
| Interest received | 1,397 | 1,128 |
| 8,263 | 7,101 | |
| RAISING FUNDS | ||
| Raising donations and legacies | ||
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Support costs | 206 | - |
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The British Society for Oral and Dental Research
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
4. RAISING FUNDS - continued
Investment management costs
5.
| Investment management costs | ||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Portfolio management | 2,364 | 2,497 |
| Aggregate amounts | 2,570 | 2,497 |
| INDEPENDENT EXAMINER'S REMUNERATION | ||
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Fees payable to the charity's auditors for the audit of the charity's financial | ||
| statements | 1,250 | 1,250 |
| Other non-audit services | 4,270 | 4,270 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
No expenses were reimbursed to any trustees during this year or the comparative year.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 8,328 Investment income 7,101 Total 15,429 EXPENDITURE ON Raising funds 2,497 Charitable activities Charitable Activities 10,638 Total 13,135 Net gains on investments 56,819 NET INCOME 59,113 RECONCILIATION OF FUNDS Total funds brought forward 521,954 TOTAL FUNDS CARRIED FORWARD 581,067 |
Restricted funds £ - - - - - - - - 5,457 5,457 |
Total funds £ 8,328 7,101 |
|---|---|---|
| 15,429 | ||
| 2,497 10,638 |
||
| 13,135 | ||
| 56,819 | ||
| 59,113 527,411 |
||
| 586,524 |
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The British Society for Oral and Dental Research
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
8. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 January 2022 | 461,783 |
| Revaluations | (56,024) |
| At 31 December 2022 | 405,759 |
| NET BOOK VALUE | |
| At 31 December 2022 | 405,759 |
| At 31 December 2021 | 461,783 |
There were no investment assets outside the UK.
Fixed asset investments were valued on an open market basis on 31 December 2022 by Evelyn Partners. The historical cost of the investment were £302,802.
The investments at fair value comprised:
| Equities Fixed interest securities Cash held within the investment portfolio Market value as at 31 December 2021 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 11. MOVEMENT IN FUNDS Unrestricted funds General fund Designated funds Restricted funds Restricted funds : Prizes Restricted funds : Other TOTAL FUNDS |
2022 | 2021 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| 326,903 | 387,721 | ||||
| 44,897 | 44,897 | ||||
| 33,959 | 29,163 | ||||
| 405,759 | 461,783 | ||||
| At 1.1.22 £ 579,067 2,000 581,067 - 5,457 5,457 586,524 |
31.12.22 £ 12,709 31.12.22 £ 28,434 Net movement in funds £ (52,025) - (52,025) 11,800 - 11,800 (40,225) |
31.12.21 £ 8,157 31.12.21 £ 31,884 At 31.12.22 £ 527,042 2,000 529,042 11,800 5,457 17,257 546,299 |
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The British Society for Oral and Dental Research
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 25,238 (16,437) Restricted funds Restricted funds : Prizes 17,600 (5,800) TOTAL FUNDS 42,838 (22,237) Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 519,954 Designated funds 2,000 521,954 Restricted funds Restricted funds : Other 5,457 TOTAL FUNDS 527,411 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 15,429 (13,135) TOTAL FUNDS 15,429 (13,135) |
Gains and Movement losses in funds £ £ (60,826) (52,025) - 11,800 (60,826) (40,225) Net movement At in funds 31.12.21 £ £ 59,113 579,067 - 2,000 59,113 581,067 - 5,457 59,113 586,524 Gains and Movement losses in funds £ £ 56,819 59,113 56,819 59,113 |
|---|---|
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The British Society for Oral and Dental Research
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated funds Restricted funds Restricted funds : Prizes Restricted funds : Other TOTAL FUNDS |
At 1.1.21 £ 519,954 2,000 521,954 - 5,457 5,457 527,411 |
Net movement in funds £ 7,088 - 7,088 11,800 - 11,800 18,888 |
At 31.12.22 £ 527,042 2,000 |
|---|---|---|---|
| 529,042 11,800 5,457 |
|||
| 17,257 | |||
| 546,299 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 40,667 | (29,572) | (4,007) | 7,088 |
| Restricted funds | ||||
| Restricted funds : Prizes | 17,600 | (5,800) | - | 11,800 |
| TOTAL FUNDS | 58,267 | (35,372) | (4,007) | 18,888 |
The designated fund is to be used in the Early Career Research Awards.
The "Prizes" restricted funds are made up of the following prize funds:
Septodont Poster Prize
Septodont offers a cash award of £500 for the best poster presentation made by a young dental researcher and a £2,000 bursary to the prize-winner's department to support research within the department for the next year.
BSODR-GSK-MINTIG Prize
GlaxoSmithKline offer a prize of £1,500 for travel to a conference or centre of excellence in mineralised tissue research to encourage and stimulate research of the highest standard in this area.
Senior Colgate Prize
The Colgate-Palmolive Company provides a cash award of £500 for the best verbal presentation by a young dental researcher and a £5,000 bursary to the prize-winner's department towards expenses for a postgraduate student to spend time in a research centre of excellence in the UK or abroad.
Junior Colgate Prize
The Colgate-Palmolive Company provides a cash award of £300 for the best verbal presentation by an undergraduate student and a £3,000 bursary to the prize-winner's department to support undergraduate research in the coming year.
Norton Ross Fellowship Prize
The Norton Ross Fellowship Prize is funded by the IADR to allow a dental or postgraduate student to obtain training and experience in dental or related research. This is awarded biennially and rotates among the IADR divisions.
The "Other" restricted funds are made up of the following funds:
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The British Society for Oral and Dental Research
Notes to the Financial Statements - continued For The Year Ended 31 December 2022
11. MOVEMENT IN FUNDS - continued
Colgate Research Symposium sponsorship
The Colgate-Palmolive Company provided £6,000 to sponsor a PER research symposium. There is an unspent balance of £1,962 which the provider has stated can be used for future research symposiums.
GSK - MINTIG and OMIG Symposium sponsorships 2017
GlaxoSmithKline provided £1,500 in 2016, £4,000 in 2017 and £1,040 in 2019 to sponsor MINTIG and OMIG symposiums held at the annual meetings.
GSK have agreed that the unspent balance of £3,495 can be used to support the Early Career Researcher workshops and other activities of this nature that they will propose in the future.
12. RELATED PARTY DISCLOSURES
No expenses were reimbursed to any trustees during this year or the comparative year.
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The British Society for Oral and Dental Research
| Detailed Statement of Financial Activities | ||
|---|---|---|
| For The Year Ended 31 December 2022 | ||
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Prizes | 17,600 | - |
| IADR subscriptions | 16,154 | 8,157 |
| Membership fees | 821 | 171 |
| 34,575 | 8,328 | |
| Investment income | ||
| Dividends from investments | 6,866 | 5,973 |
| Interest received | 1,397 | 1,128 |
| 8,263 | 7,101 | |
| Total incoming resources | 42,838 | 15,429 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 2,364 | 2,497 |
| Charitable activities | ||
| Computer running costs | - | (700) |
| Prizes | 6,703 | - |
| Postage and stationery | - | 195 |
| Bursaries/awards | 4,801 | - |
| Meeting & event costs | 2,959 | - |
| 14,463 | (505) | |
| Support costs | ||
| Finance | ||
| Bank charges | 41 | 11 |
| Foreign exchange profit or loss | (151) | - |
| (110) | 11 | |
| Governance costs | ||
| Independent examiner's remuneration | 1,250 | 1,250 |
| Independent examiner's remuneration non-audit | 4,270 | 4,270 |
| Management & professional fees | - | 5,612 |
| 5,520 | 11,132 | |
| Total resources expended | 22,237 | 13,135 |
| Net income before gains and losses | 20,601 | 2,294 |
| Realised recognised gains and losses | ||
| Unrealised gains/losses on investments held | (60,826) | 56,819 |
| Net (expenditure)/income | (40,225) | 59,113 |
This page does not form part of the statutory financial statements
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Signature 1
Signed by Zoe Brookes using authentication code Uy9tQlFaajU/SHxN at IP address 86.131.116.215, on 2025/03/09 13:41:16 Z.
Zoe Brookes's e-mail address is: Zoe.brookes@plymouth.ac.uk.