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← British Society Of Paediatric Dentistry

2021-03-31-accounts

Charity Registration No. 273365

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2021

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Urshla Devalia Sondos Albadri Jennifer Harris Hannah Walsh Sarah McKaig Dr Christopher Vernazza (Appointed 17 September 2020) Dr David Johnson (Appointed 17 September 2020) Dr Paula Waterhouse (Appointed 5 October 2021)

Charity number 273365 Registered office 45 The Avenue Watford Hertfordshire United Kingdom WD17 4NU Independent examiner Bird Simpson & Co 144 Nethergate Dundee DD1 4EB Bankers Bank of Scotland Plc PO Box 17235 Edinburgh EH11 1YH Solicitors H Tyler Brutton & Co, 288 West Street, Fareham, Hants

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

CONTENTS

Page
Trustees' report 1 - 2
Statement of Trustees' responsibilities 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 11

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

TRUSTEES' REPORT

FOR THE PERIOD ENDED 31 MARCH 2021

The Trustees present their report and financial statements for the period ended 31 March 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 Trust's constitution, 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) (effective 1 January 2019)".

Objectives and activities

The object of the BSPD is to further the oral health of children.

The 13 regional branches this year have held educational meetings to further the object of the society, and to provide continuing professional development for its members. Branches also held study days to make educational meetings more accessible for their members. A significant number of the membership attended the annual National Conference. The national meetings continue to be successful, and to attract sponsorship from both dental and non-dental companies.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.

Achievements and performance

The Max Horsnell Travel Bursary and student Elective Prize were made. Regional branches continue to support and fund prizes, awarded locally.

Financial review

The Society is in a sound financial position. Membership currently stands at circa 800 members. The income and expenditure are detailed in the financial statement. The funds are currently held as cash. There is a National account, which acts as the main account and individual regional branch accounts. The performance of these accounts is regularly reviewed. The development of further awards and bursaries is regularly reviewed. The fall in interest rates on bank and savings accounts has affected this area of income for the Society, and will be monitored carefully.

It is our policy to keep reserves to cover 2 years running costs of the Society.

The Society plans to continue with its objective of improving the oral health of children in the United Kingdom.

Structure, governance and management

The charity is governed by it's constitution, any amendments to which must be agreed by the membership at a n AGM, and with the Charity Commission of England & Wales. The constitution provides for a minimum of 3 trustees (the Executive of the Society). This consists of the President, the Honorary Secretary, and the Honorary Treasurer. Other members of the executive include the Past President, the Vice-President, Vice President Designate and the Honorary Membership Secretary. The BSPD Honorary Editor of the International Journal of Paediatric Dentistry is also a member of the Executive. The President, Past President, VicePresident and Vice-President designate serve for 1 year each. The Honorary Secretary and Honorary Treasurer serve for up to 5 years each. Replacements are nominated, notified to the full membership and an election conducted at the annual general meeting if necessary.

A risk management register, to identify any risks to the Society, both financial and non-financial has been completed and will be reviewed each year.

The Trustees who served during the period and up to the date of signature of the financial statements were: Urshla Devalia

Sondos Albadri Jennifer Harris Hannah Walsh

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

Sarah McKaig Dr Christopher Vernazza Dr David Johnson Dr Paula Waterhouse Clare Ledingham Liz Roebuck

(Appointed 17 September 2020) (Appointed 17 September 2020) (Appointed 5 October 2021) (Resigned 17 September 2020) (Resigned 17 September 2020)

The Trustees' r eport was approved by the Board of Trustees.

Dr David Johnson Trustee Dated: 5 January 2022

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE PERIOD ENDED 31 MARCH 2021

The Trustees 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).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

I report to the Trustees on my examination of the financial statements of British Society of Paediatric Dentistry (the Trust) for the period ended 31 March 2021.

Responsibilities and basis of report

As the Trustees of the Trust 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 Trust’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

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:

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.

Neil.S.Young CA

Bird Simpson & Co Chartered Accountants 144 Nethergate Dundee DD1 4EB

Dated: 5 January 2022

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 MARCH 2021

UnrestrictedUnrestricted
Restricted
funds
funds
funds
2021
2020
2020
Notes
£
£
£
Income from:
Donations and legacies
3
54,355
39,906
7,500
Charitable activities
4
42,802
47,065
-
Investments
5
-
1
-
Total income
97,157
86,972
7,500
Expenditure on:
Charitable activities
6
86,578
94,965
25,000
Net income/(expenditure) for the year/
Net movement in funds
10,579
(7,993)
(17,500)
Fund balances at 1 June 2020
285,092
293,085
17,500
Fund balances at 31 March 2021
295,671
285,092
-		 Total
2020
£
47,406
47,065
1
94,472
119,965
(25,493)
310,585
285,092

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets
Income funds
Unrestricted funds		 2021
£
-
297,821
297,821
(2,150)		 £
295,671
295,671
295,671		 2020
£
30,297
256,835
287,132
(2,040)		 £
285,092
285,092
285,092

The financial statements were approved by the Trustees on 5 January 2022

Dr David Johnson Trustee

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2021

1 Accounting policies

Charity information

The Charity is a registered charity in England and Wales, and is unincorporated. The address of the principal office is 45 The Avenue, Watford, Hertfordshire, London. WD17 4NU.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Trust's constitution , 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) (effective 1 January 2019)". The Trust is a Public Benefit Entity as defined by FRS 102.

The Trust 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 Trust . 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 Trust 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.

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.

1.4 Income

Income is recognised when the Trust 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 Trust 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 Trust 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.

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Donations and legacies received for general purposes of the Charity are included as unrestricted funds. Donations and legacies for activities restricted by the terms of the donation are taken to restricted funds where these wishes are legally binding on the Trustees.

Investment income and bank interest is included in the year in which it is receivable.

1.5 Expenditure

All expenditure is included on an accruals basis. The Charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. The allocation of expenditure follows the policies below:

Costs of charitable activity comprise all the resources applied by the charity in undertaking its work to meet its charitable objectives, including those support costs and costs relating to the governance of the charity

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Trust 's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust ’s contractual obligations expire or are discharged or cancelled.

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

2 Critical accounting estimates and judgements

In the application of the Trust’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.

3 Donations and legacies

Unrestricted Unrestricted Restricted Total
funds funds funds
2021 2020 2020 2020
£ £ £ £
Donations and gifts 45 160 7,500 7,660
Membership fees 54,310 39,746 - 39,746

4 Charitable activities

Charitable
Charitable
Activities
Activities
Income
Income
2021
2020
£
£
Journal income 30,213
30,297
Conference income 9,665
13,517
Other income 2,924
3,251
42,802
47,065
Investments
Total Unrestricted
funds
2021 2020
£ £
Interest receivable - 1

5 Investments

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

6 Charitable activities

Unrestricted
Funds
Unrestricted
Funds
Restricted
Funds
2021
2020
2020
£
£
£
Branch Meetings
6,165
22,356
-
Cost of Wiley IJPD
19,925
25,048
-
Website Costs
11,651
9,962
-
Media Support
29,888
30,633
25,000
Bank Charges
117
34
-
Donations
773
2,236
-
Independent Examiner's Fee
1,910
1,800
-
Miscellaneous
2,031
2,896
-
Administering the Charity
14,118
-
-
86,578
94,965
25,000
86,578
94,965
25,000
Analysis by fund
Unrestricted funds
86,578
94,965
-
Restricted funds
-
-
25,000		 Total
2020
£
22,356
25,048
9,962
55,633
34
2,236
1,800
2,896
-
119,965
119,965
94,965
25,000

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the period.

8 Heritage assets

The BSPD National body owns the following assets:

Presidential jewel, gavel and block valued at £1,400.

9 Debtors

Amounts falling due within one year:
Trade debtors
10
Creditors: amounts falling due within one year
Accruals and deferred income		 2021
£
-
2021
£
2,150		 2020
£
30,297
2020
£
2,040

BRITISH SOCIETY OF PAEDIATRIC DENTISTRY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2021

11 Related party transactions

There were no disclosable related party transactions during the period (2020 - none) .