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2024-03-31-accounts

The Medical Council on Alcohol (A company limited by guarantee)

Report and Financial Statements Year ended 31 March 2024

Charity number: 265242 Company number: 952312 VAT number: 128992569

TABLE OF CONTENTS

REPORT OF THE TRUSTEES & DIRECTORS OF THE MEDICAL COUNCIL ON PAGES 3-14
ALCOHOL FOR THE YEAR ENDED 31 MARCH 2024
INTRODUCTION PAGE 3
MEDICAL DIRECTOR’S REPORT PAGE 3
OUR PURPOSE AND ACTIVITIES PAGE 5
ACHIEVEMENTS AND PERFORMANCE PAGE 7
FINANCIAL REVIEW PAGE 9
STRUCTURE, GOVERNANCE & MANAGEMENT PAGE 11
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE MEDICAL COUNCIL ON PAGE 15
ALCOHOL FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 PAGE 16
BALANCE SHEET AS AT 31 MARCH 2024 PAGE 17
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 PAGE 18

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REPORT OF THE TRUSTEES & DIRECTORS OF THE MEDICAL COUNCIL ON ALCOHOL FOR THE YEAR ENDED 31 MARCH 2024

The Medical Council on Alcohol is a Registered Charity (Number 265242) and a Company Limited by Guarantee and not having a share capital (Company Registration Number 952312) as well as being VAT registered (128992569). It is governed by its Memorandum and Articles of Association dated 28 February 1967 under which one third of the Executive Committee is elected or re- elected at each Annual General Meeting. The Executive Committee appoints the Chairman and is also entitled to appoint new Trustees and determine the method of their appointment.

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31 March 2024 which are prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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) (Effective October 2019).

MEDICAL DIRECTOR’S REPORT

The MCA has had a successful year. Our office at 2 St Andrew’s Place next to the RCP is fully up and running. The MCA team continues working on a hybrid basis both in the office and from home. Our regular committee meetings are mainly virtual so that we can benefit from the widened participation and attendance of members this allows, as well as reducing travel time and costs. We do though recognize the very real benefits of face-to-face meetings so we also schedule those, including of course our annual Symposium. A particular achievement by the office team over the past year has been to complete the new website. We are now benefiting from the opportunities offered by this development, both in terms of existing activities such as better online symposium booking and competition submissions and more excitingly developing new projects which the improved functionality allows.

During the past year, the MCA has continued its work to reduce alcohol-related health harm, primarily through educational measures for health professionals. We work with health professionals in the alcohol and health harm arena including of course students, promoting education for this group; our Journal is highly regarded in the field; we work with organisations which support health professionals themselves in difficulty with alcohol; and we remain committed to achieving evidencebased policy change through our links with the Alcohol Health Alliance and other organisations.

The 2023 MCA Symposium on Alcohol and Health was again held at the RCP in London. The day ran very smoothly. The Max Glatt lecture by Professor Anne Lingford-Hughes was a tour de force and is available to view for all via the MCA website as are previous Max Glatt lectures. The other talks, which included reviews of the no-low alcohol sphere and updates on recent guidelines, are also available for delegates to view for six months after the event, thus giving an opportunity for increased exposure and impact. The event got excellent feedback and delegates greatly valued the opportunity to interact once again in person. The finances of in-person events are much tighter than for digital ones, with many additional costs such speakers, travel and accommodation and delegates

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catering. Through a combination of judicious pricing and attracting sponsorship very pleasingly the event again made a small surplus.

Other regular educational projects include our competitions, of which there have been two in the past year for medical students and other health professionals in training. The 2023 Essay prize on the theme of youth drinking resulted in excellent entries and the prize-winning essay was published in our Annual Report. We also ran the biennial National Alcohol Awareness Day competition to produce a letter and infographic on the theme of alcohol and inequality. The excellent winning entries were exhibited at our annual symposium. All competition winners are invited to attend the day to receive their prizes.

Our journal is a key element of the MCA portfolio, both financially and educationally. Our excellent relationship with Oxford University Press, our Journal co-owners, and most importantly the dedication of the chief Editors, are key to the on-going success of Alcohol and Alcoholism. The Journal is our principal source of income and over the past year this has resulted in an income in excess of £100,000. Discussions on maintaining and improving the income are on-going with OUP and the Editors. The Impact Factor is currently 2.8, which is also the 5-year Impact Factor. Our contact at OUP, Rachel Moriarty, continues to give us excellent support. Importantly, Professor Jonathan Chick, our longstanding joint Editor in Chief, resigned this year. We thank Professor Chick for the enormous contribution he has made to the growing strength of the Journal over many years. Together with OUP and the remaining Editor in Chief, Lorenzo Leggio, the MCA successfully searched for a new appointment to replace Professor Chick and we were delighted to appoint Giancarlo Columbo from Sardinia to the role. This is a crucial appointment in growing Alcohol and Alcoholism. Giancarlo Columbo has been involved in the Editorial Board for many years and has been able to rise to the new challenge of the joint Editorship impressively quickly. We very much look forward to many years of joint working. A further development in the Journal is that it is now only available digitally, the last print edition was at the end of 2023. We do not anticipate that this will have any deleterious financial impact.

Our investment income of course depends on the performance of the financial markets, which inevitably are affected by recent geopolitical events. We have benefited from the oversight of our financial advisors Charles Stanley with whom members of the Executive Committee and the Treasurer meet regularly.

Our aim for the next year is to continue our activities to meet our mission of improved outcomes for patients with alcohol related health harm, through all our streams of work and with the development of new initiatives. We aim to do this while staying in budget which requires careful scrutiny of all our activities and maximisation of fundraising opportunities. The Council’s continuing aim is for its income and expenditure to be in reasonable balance before any major charitable projects. We will continue to strengthen our links with healthcare professionals through our membership, educational activities and Journal as well as using social media to raise the profile of the organisation. Through our collaboration with OUP, we will continue to work to increase the income generated from the Journal.

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OUR PURPOSE AND ACTIVITIES

Objectives

The Council was established in 1967 for “the benefit of the community to provide an organisation of registered health care professionals with a view to the co-ordination of effort, the better understanding of alcoholism and its prevention and the treatment and after-care of alcoholics”.

Our purpose

The vision that shapes our annual activities remains to create a workforce of health professionals educated and supported to reduce health harm from alcohol. Improving the competence of health professionals in the alcohol field will improve the quality of treatment for patients in the UK. The charity also supports healthcare professionals who have developed problems with their own use of alcohol.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity’.

Educational Activities

We run a range of educational activities including student competitions and a yearly symposium. The income from this event is intended to ensure that the event itself is at least cost neutral, but ideally to increase sponsorship and price delegate income to create a small surplus to aid in covering the costs of educational activities. Our activities have the benefit of improving the competence of health care professionals, particularly at the beginning of their careers, to manage health harm from alcohol in their patients.

Membership

The MCA has a small membership body of 73, all from the healthcare field. The membership fees cover the cost of the thrice-yearly newsletter and also allow the MCA to offer reduced rates for members to its educational events. Membership increases exposure to the MCA’s activities, which in turn has increased the competence of health care professionals.

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Journal

The MCA owns a 50% share with Oxford University press of the ‘Alcohol and Alcoholism’ journal. The income from the journal contributes towards the operational costs of the organisation. Our continued aim is to work towards increasing the Impact Factor and we work towards this with OUP and the Editors-in-Chief. The Journal meets the MCA’s vision and mission statements by contributing to the academic endeavours of improving the knowledge and understanding of alcoholrelated health harm. This in turn improves the management of patients with alcohol-related health issues.

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ACHIEVEMENTS AND PERFORMANCE

Performance Review 2023-2024

EDUCATIONAL GOAL

DID WE ACHIEVE COMMENTS IT?

To hold one AGM as stated in the MCA The 2023 event was held in person. memorandum. To arrange one symposium It was well attended and had with the aim to break even financially, and YES excellent feedback. It achieved a to have a minimum attendance of at least small surplus. 100 people. To produce x3 copies of the newsletter We produced 3 copies of the YES ‘Alcoholis’ Alcoholis newsletter. DID WE ACHIEVE JOURNAL GOAL COMMENTS IT? To continue to increase the impact factor Annual impact factor was 2.8 with with the aspiration of achieving an impact YES a 5- year impact factor of 2.8 factor of 2.5 – 3 within a 3- year period To produce 6 issues of A&A Journal a year, YES with at least 100 pages per edition DID WE ACHIEVE POLICY GOAL COMMENTS IT? To maintain links to the AHA (Alcohol and Health Alliance) and other organisations on Supported them financially as well YES issues of policy relevance e.g. minimum as via social media pricing

DID WE ACHIEVE SUPPORT GOAL COMMENTS IT? To continue to work with the BDDG and SDT to promote both organisations and signpost Many links including committee YES healthcare professionals suffering from an membership alcohol problem to these organisations

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This year the Journal’s impact factor was 2.8. The MCA strengthened its links with the AHA by supporting them financially with a £2,000 grant whilst we also highlighted each other’s social media campaigns. The MCA also continued to work closely with the BDDG (British Doctors and Dentists Group) and the SDT (Sick Doctors Trust).

The MCA Symposium on Alcohol and Health in 2023 was held once again in person, after two years of on-line events. It had 102 attendees, including 71 paying delegates, and made a small positive income of £1,500. The plans for the 2024 Symposium are currently in progress, again for an inperson event.

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FINANCIAL REVIEW

The MCA recorded a net income for the year of £ 7,191 (2023: £2,682) before realised and unrealised investment gains of £54,357 (2023 loss: £25,641) showing a net increase in funds for the year of £61,548 (2023: decrease of £22,959). At the year end the Council had net funds of £956,124 (2023: £894,576).

Income

The Symposium was held was held in person in 2023 and a small surplus was achieved.

Journal income showed an increase over the previous year to £166,414 (2023: £154,826), primarily due to an increase in non-subscription income.

Dividend income declined slightly compared to the previous year, but increased interest income meant that total investment income for the year at £26,320 was slightly ahead of the £26,028 recorded in 2023.

Expenditure

There was a decline in underlying costs during the year compared to 2023, which included recruitment costs of around £11,000. Total expenditure for the year was £204,311 (2023: £203,995) and included ‘one off’ expenditure of approximately £12,500 to renew MCA’s website.

Investment portfolio and cash balances

The year-end valuation of £727,191 (2023: £672,835) was substantially ahead of the previous year. There was a decline in the level of cash balances to £172, 599 at the year-end compared to £228,785 at 31 March 2023, but this was mostly due to the slightly later invoicing and collection of the Journal profit share compared to 2023.

Our Membership and Symposium Pricing Policies

The MCA’s pricing policies with regards to membership and events reflect our strategy of being accessible and cost effective to all types of healthcare professionals especially as budgets within the NHS are very strict at present, whilst aiming for the MCA to remain financially viable.

Investment Powers and Policy

The Council has appointed Charles Stanley and Co. as MCA’s investment managers and members of the Executive Committee and the Treasurer have regular meetings with the investment manager to monitor performance. The investment manager is aware of the Council’s ethical stance on alcoholrelated investments.

Reserves Policy

The Council’s policy is to retain sufficient cash and easily liquidated investments to cover at least 9 months estimated future expenditure, which in 2023/2024 was approximately £204,000. The aim of the Trustees is that the level of cash balances to be held as part of this cover should be in the region of at least £125,000. At the year-end MCA’s net cash at bank and investments amounted to approximately £900,000. All investment holdings are capable of being liquidated quickly should the

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need arise.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Medical Council on Alcohol is a company limited by guarantee governed by its Memorandum and Articles of Association dated 1967. It is registered as a charity with the Charity Commission.

The Council is governed by the Executive Committee and its subordinate Committees: Education and Public Health and Journal. There is a network of Regional Advisors associated principally with Medical Schools and Universities, and a current membership of 73. Members of the Executive Committee are Directors under Company Law and Trustees under Charity Law. Members of the Company guarantee to contribute an amount not exceeding £1 each to the assets of the Company in the event of a winding-up during their membership or within one year of their ceasing to be a member. The total of such guarantees at 31 March 2024 was £73 (2023: £76).

Appointment of Trustees

Under the company’s articles, directors of the company are known as members of the Executive Committee. Under the requirements of the Memorandum and Articles of Association the members of the Executive Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. The directors retire by rotation and, if eligible, can offer themselves for re-election.

Most trustees are already familiar with the practical work of the Charity. Additionally, new trustees are encouraged to attend meeting sessions to familiarise themselves with the Charity and the context within which it operates.

Trustee Induction and Training

New trustees are briefed on their legal obligations under charity and company law, the Charity Commission guidance on public benefit and receive a copy of the Memorandum and Articles of Association. New trustees are presented with any recent financial documents and business plans.

Organisation

The board of trustees, which can have up to 30 members, administers the charity. The board normally meets three times a year. A Chairman is appointed by the trustees to manage the day- today operations of the charity. To facilitate effective operations, the Chairman has delegated authority, within the terms of delegation approved by the trustees, for operational matters including finance, employment and membership to the Medical Director and other committees (Education & Journal).

Related Parties and Co-operation with other Organisations

The Medical Council on Alcohol has formal Agreements only with the Journal Publisher (Oxford University Press) and the European Society for Biological Research into Alcohol (a charity with similar objectives, subject to Belgian National Law, but administered from Vienna).

In pursuance of its charitable objectives The Medical Council on Alcohol co-operates with bodies such as the Sick Doctors Trust, the Alcohol Health Alliance and the British Doctors’ and Dentists’ Group but has no formal relationship with these bodies.

The Medical Council on Alcohol became affiliated to the Royal College of Physicians in 2006: this affiliation does not affect the independence of The Medical Council on Alcohol as a Charity.

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Pay Policy for Senior Staff

The directors, who are also the trustees, give of their time freely and no director received remuneration in the year. Details of directors’ expenses are related party transactions and are disclosed in note 9 in the accounts.

The pay of MCA staff is reviewed annually in accordance with pay in other comparable organisations.

Risk Management

The Council is exposed to operational and financial risks as a result of its operating activities. To mitigate these risks a system of internal financial controls has been implemented that is designed to provide reasonable (although not absolute) assurance against material misstatement or loss.

The trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of the investment portfolio and active management of debtors and creditors balances to ensure sufficient working capital.

The Council is also exposed to market risk as a result of holding investments in equities and bonds. To manage this risk the Council has given clear guidelines to the investment manager on the investment strategy to be followed and receives regular reports from the investment manager on the performance of the portfolio. Members of the Executive Committee and the Treasurer meet regularly with the manager to review investment performance.

Attention has also been focused on non-financial risks arising from fire and health and safety issues. These risks are managed by ensuring that all office machines are PAT tested regularly, having set policies and procedures in place, maintenance of equipment, back-up of data to an external server and regular staff training.

REFERENCE AND ADMINISTRATIVE DETAILS:

Charity number: 265242

Company number: 952312

VAT number: 128992569

Registered Office: 2 St Andrews Place, London NW1 4LB

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Our Advisors:

Independent Examiner: Martin Myers, Goldwyns 109 Baker Street, London, W1U 6RP Bankers: Natwest PO Box 2022, London, W1A 1FH Investment Manager: Charles Stanley 55 Bishopsgate, London, EC2N 3AS

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The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees as at 31 March 2024 were as follows:

OFFICERS
President
Vice President		 Professor Sir Ian Gilmore
Dr Bruce Ritson,		 MD, FRCP, DL
OBE, MD, FRCPsych, FRCP (Ed)
EXECUTIVE COMMITTEE
Ofcers:
Chairman
Educaton Commitee Chair
Journal Commitee Chair		 Prof Colin Drummond
Dr Iain Smith
Dr Peter Rice		 MB ChB, MD, FRCP, FRCPsych, FFPH, FRCGP(Hon)
MB ChB, BSc, FRCPsych
MB ChB, FRCPsych
Members: Prof Jonathan Chick,
Prof Eilish Gilvary,
Dr Jane Marshall
Dr Steve Masson
Dr Marsha Morgan,
Dr Andrew
Thillainayagam,
Dr Alasdair Young
Dr Michael Dougan		 MA, MPhil, MBChB, DSc, FRCP(Ed),
FRCPsych
MBE, FRCP, FRCGP, MRCPsych
FRCPsych
FRCP
MB ChB, FRCP
MD, FRCP
MB ChB,MRCPsych
MB ChB, LLB, DA(UK), FFARCS(I)
In atendance:
Honorary Treasurer:
Medical Director:
Executve Assistant:
Admin Assistant:		 Mr Graham Warner
Dr Dominique Florin
Mrs Jess Luxon - Walsh
Ms Clare Farrow		 MBA, FCA
MA, MB BS, MRCGP, MD, FFPHM
BA(Hons)
Distnguished Fellow Professor Peter Brunt (deceased
July 2023)		 CVO, OBE, MD, FRCP, FRCP(Ed),FRCS(Ed)

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Trustees’ responsibilities in relation to the financial statements

The trustees (who are also directors of The Medical Council on Alcohol for the purposes of Company Law) are responsible for preparing the Trustees’ 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. Under Company Law, the trustees must not approve the Financial Statement unless they are satisfied that they 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 the year. In preparing these financial statements, the trustees are required to:

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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board:

Dr Dominique Florin Date: 12th June 2024

Medical Director

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE MEDICAL COUNCIL ON ALCOHOL FOR THE YEAR ENDED 31 MARCH 2024

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 16 to 25.

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

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 (FRS102).

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.

MARTIN MYERS, FCA CTA GOLDWYNS Chartered Accountants 109 Baker Street London W1U 6RP Date: 12th June 2024

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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
Income and Endowments from:
Donatons and Legacy Income
4
Membership
Investment Income
6
From charitable actvites
Journal
Symposium
5
Publicaton Sales
Sundry Income
Total Income
Expenditure on:
Charitable Actvites
7a / 7b
Governance & Administraton
7c
Other
Total Expenditure
Net Incoming Resources
Gains / (Losses) on
Investments
Realised investment gains /
(losses)
Change in value of the
investment portolio
Net Movement in Funds
Reconciliaton of Funds
Total funds Brought Forward
Total funds Carried Forward
16		 Total 2024
Unrestricte
d Funds
Restricted
Funds
Total 2023
£
£
£
£
1,433
724
709
7,449
2,530
-
2,530
5,737
26,320
26,320
-
26,028
30,283
27,044
3,239
39,214
166,414
112,119
54,295
154,826
14,805
14,805
-
12,506
-
-
-
87
-
-
-
44
181,219
126,924
54,295
167,463
211,502
153,968
57,534
206,677
153,128
95,594
57,534
147,547
50,421
50,421
-
55,804
762
762
-
644
204,311
146,777
57,534
203,995
7,191
7,191
-
2,682
2,658
2,658
-
(6,607)
51,699
51,699
-
(19,034)
54,357
54,357
-
(25,641)
61,548
61,548
-
(22,959)
894,576
894,576
-
917,535
956,124
956,124
-
894,576

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The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities. The notes on pages 18 to 25 form part of these financial statements.

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BALANCE SHEET AS AT 31 MARCH 2024

For
2024
Note
s
Fixed Assets
Listed Investments
12
Current Assets
Debtors
13
Cash at Bank and in hand
Total Current Assets
Creditors: amounts falling due
within 1 year
14
Net Assets
Total Assets less Current Liabilites
Funds of the charity
Unrestricted funds
15
Restricted funds
Revaluaton Reserve
15a
Total Funds		 the year
ended 31
March
the
company
2024
2023
£
£
727,191
672,835
82,906
13,742
172,599
228,785
255,505
242,527
26,572
20,786
228,933
221,741
956,124
894,576
834,787
824,938
-
-
121,337
69,638
956,124
894,576

was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and under the Charities Act 2011.

Directors’ responsibilities:

Approved by the Executive Committee on 12[th] June 2024 and signed on its behalf,

Professor C Drummond,

Chairman, Executive Committee

Mr G Warner, MBA, FCA Honorary Treasurer

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of Preparation

Going Concern

notification of the interest paid or payable by the financial institution.

Fund Accounting

Expenditure

Allocation of Support Costs

Income

Operating Leases

Interest Receivable

Tangible Fixed Assets

Debtors

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Cash at bank and in hand

purposes of the Companies Act, the persons regarded as Directors and the Board of Directors respectively, are the Members of the Executive Committee.

3. Financial Performance of the Charity

The statement of financial activities shows the overall income and expenditure of the charity.

Investments

The listed investment portfolio is stated at market value.

Foreign Currencies

Creditors and Provisions

Financial Instruments

Pensions

2. Legal Status of the Charity

The MCA is a company limited by guarantee 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. For the

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4. Income from Donations and Legacies

Member & Product donatons
Legacies & Other income		 2024
2023
£
£
724
292
709
7,157
1,433
7,449

The income from donations and legacies was £1,433 (2023: £7,449) of which £724 was unrestricted (2023: £1,420) and £709 restricted (2023: £6,029).

The MCA benefits greatly from the involvement and enthusiastic support of its many board members, Regional Advisors and volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of these people is not recognised in the accounts.

5. Income from Charitable Activities

Income from Symposium
6. Investment Income
Dividends on investments
Interest receivable on bank deposits		 Unrestricted funds
Unrestricted funds
2024
2023
£
£
14,805
12,506
2024
2023
£
£
23,804
25,252
2,516
776
26,320
26,028

7. Expenditure

7(a) Breakdown of costs by charitable activities (See note 16 for details of Restricted Expenditure):

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costs
actvity
Journal (Inc. Commitee costs)
Member Communicaton
Educaton: External Events
Publicatons
Other
Symposia
Compettons		 Direct Costs
Support
Total
£
£
£
39,602
5,742
45,344
12,737
22,969
35,706
-
17,227
17,227
-
5,742
5,742
125
2,297
2,422
12,030
26,414
38,444
2,500
5,743
8,243
66,994
86,134
153,128

7(b) Analysis of by financial

7(c) Governance and Administration costs:

2024 2023
£ £
Support Costs 28,712
31,597
Professional Fees 5% 14,621
17,845
20%
15%		 5% 2% 23% 5% 25%
Investment management fees 4,828 4,777
Funding & subscriptons to other
organisatons
Total
Journal		 2,260
1,585
50,421
55,804
Membe
r Com
Educato
n:
External
Events
Educaton:
Publicaton
s		 Educaton:
Other		 Educaton:
Symposiu
m		 Educaton:
Comp		 Governance
& Admin
£ £ £
£		 £ £ £ £ £
Staf 89,725 4,486 17,945
13,459		 4,486 1,794 20,637 4,486 22,431
Premises 19,868 993 3,974
2,980		 994 397 4,570 993 4,967
Other Of. 5,253 263 1,051
788		 263 105 1,208 263 1,313
114,846 5,742 22,970
17,227		 5,743 2,296 26,415 5,742 28,711
86,134 28,711

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8. Net Income/(expenditure) for the year is stated after charging the following:

2024 2023
£ £
Operatng leases 19,868 19,868
Bank interest receivable (2,516) (776)
Accountancy services 8,702 8,123

9. Analysis of staff costs, trustee remuneration and expenses

Wages and Salaries
Social Security contributons
Pension contributons
Staf Travel
Recruitment
Total
Average number of employees during the year		 2024
2023
£
£
79,630
83,599
2,206
2,559
7,351
6,579
538
78
-
10,810
89,725
103,625
3
3

No trustees were paid or received any other benefits from employment with the organisation in the year (2023: £nil) other than Professor J Chick who received an Honorarium for his editorship of the Journal which totalled £16,000 (2023: £16,000).

No charity trustee received payment for professional or other services supplied to the charity (2023: £nil). No payments were made to (2023: Nil) Executive Committee members in reimbursement of travelling expenses incurred in attending meetings. No employees had remuneration and employee benefits in excess of £60,000.

10. Staff Numbers

The MCA employs 3 part-time members of staff. It also employs additional part-time staff when necessary, during peak activity times (e.g. Symposium, other events etc).

11. Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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12. Fixed Assets – Listed Investments

Cost of investments at start of fnancial year
Additons at cost during the year
Disposals during the year
Realised gains (loss) on investments during the year
Cost of investments at end of fnancial year
Unrealised gains at year end
Market Value at end of fnancial year
Cash held pending investment		 2024
2023
£
£
598,571
615,285
74,550
58,890
(77,292)
(68,997)
2,658
(6,607)
598,487
598,571
121,337
69,638
719,824
668,209
7,367
4,626
727,191
672,835

All investments were listed on a recognised stock exchange.

13. Debtors: Amounts Falling Due Within One Year

Prepayments & Accrued Income
Trade Debtors		 2024
2023
£
£
82,130
13,645
776
97
82,906
13,742

14. Creditors: Amounts Falling Due Within One Year

Accruals & Deferred Income
Trade Creditors
Other Creditors
VAT payable		 2024
2023
£
£
22,454
8,715
1,152
1,465
2,155
-
811
10,606
26,572
20,786

15. Analysis of Net Assets Between Funds

Unrestricted Funds, Net Current Assets
Unrealised gains on revaluaton of investments		 2024
2023
£
£
834,787
824,938
121,337
69,638
956,124
894,576

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15a. Movement in Revaluation Reserve

Brought Forward balance at 1 April
Net movement for the year
Balance at 31 March		 2024
2023
£
£
69,638
88,674
51,699
(19,036)
121,337
69,638

16.Movement in Funds

Unrestricted Funds:
At 1 April
Transfer from restricted funds
Net Movement in funds for year
At 31 March
Restricted Funds:
At 1 April
Income
Expenditure
Transfer to unrestricted funds
At 31 March		 2024
2023
£
£
894,576
917,535
-
-
61,548
(22,959)
956,124
894,576
-
-
57,534
63,441
(57,534)
(63,441)
-
-

Restricted funds received during the year and their subsequent expenditure was for:

_Gif Aid Donatons:_Donatons by members for
members only actvites, such as AGM costs
_Membership:_The MCA receives yearly
subscriptons to pay for member actvites
_Journal:_The MCA receives monthly income from
Oxford University Press to contribute to editorial
and board expenses		 Amount
Expenditure
£
709Members contributon towards AGM
costs (to aid in covering costs)
2,530
AGM costs, newsleter, website and
member actvity costs
54,295
Editors’ honoraria and editorial meetngs
and expenses
57,534

17. Operating Lease Commitments

MCA’s previous lease on premises it occupies at the Royal College of Physicians expired on 31 December 2019. A lease for new premises has been agreed with the College at an approximate annual cost of £19,868 (including service charge) with effect from 1 July 2022, but not yet signed.

The combined rent and service charges in respect of leased premises included in these accounts is £19,868 (2023: £19,868).

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18. Related Parties

Other than the items shown in Note 9 above, there are no related party transactions that require disclosure.

19.Post Balance Sheet Events

There are no events occurring after the Balance Sheet date that are required to be disclosed.

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