Charity registration number 273365
BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Dr Urshla Devalia | |
|---|---|---|
| Prof Sondos Albadri | ||
| Mrs Jennifer Harris | ||
| Dr Hannah Walsh | ||
| Mrs Sarah McKaig | (Resigned 15 September | |
| 2022) | ||
| Dr Christopher Vernazza | ||
| Dr David Johnson | ||
| Prof Paula Waterhouse | ||
| Dr S Bhatia | (Appointed 15 September | |
| 2022) | ||
| 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 YEAR ENDED 31 MARCH 2023
The Trustees present their annual report and financial statements for the year ended 31 March 2023.
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 nondental 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 720 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.
Plans for future periods
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 an 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, Vice-President 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.
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
The Trustees who served during the year and up to the date of signature of the financial statements were: Dr Urshla Devalia
Prof Sondos Albadri Mrs Jennifer Harris Dr Hannah Walsh Mrs Sarah McKaig (Resigned 15 September 2022) Dr Christopher Vernazza Dr David Johnson Prof Paula Waterhouse Dr S Bhatia (Appointed 15 September 2022)
The Trustees' report was approved by the Board of Trustees.
Dr David Johnson
Trustee
11 August 2023
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2023
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 year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping 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.
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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 year ended 31 March 2023.
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:
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1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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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.
Neil.S.Young CA
Bird Simpson & Co Chartered Accountants 144 Nethergate Dundee DD1 4EB
Dated: 11 August 2023
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 3 51,399 - Charitable activities 4 122,283 - Total income 173,682 - Expenditure on: Charitable activities 5 138,841 300 Net income/(expenditure) for the year/ Net movement in funds 34,841 (300) Fund balances at 1 April 2022 250,717 4,700 Fund balances at 31 March 2023 285,558 4,400 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 51,399 54,330 5,000 122,283 16,664 - 173,682 70,994 5,000 139,141 115,948 300 34,541 (44,954) 4,700 255,417 295,671 - 289,958 250,717 4,700 |
Total 2022 £ 59,330 16,664 75,994 116,248 (40,254) 295,671 255,417 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Income funds Restricted funds 10 Unrestricted funds |
2023 £ 291,818 (1,860) |
£ 289,958 4,400 285,558 289,958 |
2022 £ 273,906 (18,489) |
£ 255,417 |
|---|---|---|---|---|
| 4,700 250,717 |
||||
| 255,417 |
The financial statements were approved by the Trustees on 11 August 2023
Dr David Johnson Trustee
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 amounts 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.
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.
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
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.
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 payments 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.
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
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 | ||
| 2023 | 2022 | 2022 | 2022 | |
| £ | £ | £ | £ | |
| Donations and gifts | 1,200 | 2,150 | 5,000 | 7,150 |
| Membership fees | 50,199 | 52,180 | - | 52,180 |
4 Charitable activities
| Charitable | Charitable | |
|---|---|---|
| Activities | Activities | |
| Income | Income | |
| 2023 | 2022 | |
| £ | £ | |
| Study Day Income | 15,764 | 16,664 |
| Journal income | 87,610 | - |
| Conference surplus | 17,295 | - |
| Other income | 1,614 | - |
| 122,283 | 16,664 |
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
5 Charitable activities
| Unrestricted | Unrestricted |
|
|---|---|---|
| Funds | Funds | |
| 2023 | 2022 | |
| £ | £ | |
| Branch Meetings | 45,650 | 24,342 |
| Cost of Wiley IJPD | 21,294 | 24,284 |
| Website Costs | 1,827 | 8,557 |
| Media Support | 38,935 | 37,490 |
| Bank Charges | 243 | 174 |
| Donations | 232 | 1,649 |
| Independent Examiner's Fee | 1,860 | 1,970 |
| Miscellaneous | 1,651 | 1,503 |
| Administering the Charity | 17,847 | 16,279 |
| Translation Services | 3,210 | - |
| Leaflets | 3,500 | - |
| Unicef Training Day | 2,892 | - |
| 139,141 | 116,248 | |
| 139,141 | 116,248 | |
| Analysis by fund | ||
| Unrestricted funds | 138,841 | 115,948 |
| Restricted funds | 300 | 300 |
| 139,141 | 116,248 |
6 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
7 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 Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
8 Heritage assets
The BSPD National body owns the following assets:
Presidential jewel, gavel and block valued at £1,400.
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BRITISH SOCIETY OF PAEDIATRIC DENTISTRY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
9 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Trade creditors Accruals and deferred income |
2023 £ - 1,860 1,860 |
2022 £ 16,279 2,210 |
| 18,489 |
10 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in Incoming resources £ Jane Goodman Prize 5,000 11 Analysis of net assets between funds Unrestricted funds Restricted funds 2023 2023 £ £ Fund balances at 31 March 2023 are represented by: Current assets/(liabilities) 285,558 4,400 285,558 4,400 |
funds Resources expended Balance at 1 April 2022 Resources expended Balance at 31 March 2023 £ £ £ £ (300) 4,700 (300) 4,400 Total Unrestricted funds Restricted funds Total 2023 2022 2022 2022 £ £ £ £ 289,958 250,717 4,700 255,417 289,958 250,717 4,700 255,417 |
funds Resources expended Balance at 1 April 2022 Resources expended Balance at 31 March 2023 £ £ £ £ (300) 4,700 (300) 4,400 Total Unrestricted funds Restricted funds Total 2023 2022 2022 2022 £ £ £ £ 289,958 250,717 4,700 255,417 289,958 250,717 4,700 255,417 |
|---|---|---|
| Total 2022 £ 255,417 |
||
| 255,417 |
12 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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