2022-08-31-accounts - International College Of Oriental Medicine (UK) Limited

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Trustees’ Annual Report

from 1 September 2021 to 31 August 2022

Company name: International College of Oriental Medicine (UK) Ltd

Charity registration number: Company Limited by Guarantee 1315642

Principal Address:

Van Buren House Green Hedges Avenue East Grinstead RH19 1DZ

Tel: 01342 313106 email: info@orientalmed.ac.uk website: www.orientalmed.ac.uk

Objective

To effectively support the practice and learning of traditional Acupuncture and its integration with modern national health systems providing an answer to the global crisis all national health services are experiencing today.

ICOM’s objectives are

To put patients at the centre of the clinical stage and treat them as individuals, encouraging them to understand and take responsibility for their own health.
To reduce costs of effective medical interventions and benefit the community by providing affordable specialistic complementary/alternative treatment
To relieve pressure from the NHS treating diseases that are normally addressed using potentially dangerous medications like opioids and NSAD.
To advance the education of the public in the subject of Traditional Acupuncture
To advance the education of the students by providing and assisting them in gaining a professional licentiate recognised by the British Acupuncture Council

In summary

To provide, deliver and enhance the care and treatment of patients requiring medical treatment, healing the sick, care of the poor and the aged and to engage, train, instruct, educate and employ highly skilled Chinese Medical staff as necessary.

Management and governance.

The College’s mission statement:

To be a centre of excellence for acupuncture teaching, health care and research by the contemporary application of classical acupuncture.

The International College of Oriental Medicine (UK) Ltd is the oldest Acupuncture teaching institution in the UK and one of the oldest in Europe. The college, commonly known as ICOM, was founded in 1972 and since 1977 has had its residence in the company owned building in East Grinstead. ICOM is a registered charity which aims at forming highly specialised practicing acupuncturists over a period varying from three (full time student engagement) to five years (part time student engagement).

Structure of internal management and governance

The day-to-day management and administration of the college is carried out by the Management Team , comprising of the Academic Director, Clinic Director, Student Administrator, Clinic and Practice Manager and Bursar headed by the Principal. Besides 2 full-time members (Student Administrator, Clinic and Practice Manager) the others all work part-time. The Team meets every 6 weeks and is generally attended by a representative from the Board of Governors.

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ICOM
Organigram
Board of
Governors
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The Management Team is accountable to and guided by the Board of Governors . Our seven Governor members are drawn from a variety of professional backgrounds other than Oriental medicine; an elected faculty representative is also represented there. They are responsible for the overall institutional and academic direction and strategic planning. They oversee the activities of the Principal ( Accountable officer ) ensuring that the charity is carrying out its purposes for the

public benefit (the primary stakeholders being patients and students), complying with the current legislation in the best interest of the college students and clinic patients and responsibly managing the college resources. The Principal reports to the Governor members at Board Meetings so that any new policy the Programme Committee or the Management Team may propose is independently ratified by the Board.

The Programme Committee comprises all course leaders and support teaching staff (27 part time lecturers) who meet three times a year to review academic standards, discuss and evaluate course material, monitor course development and delivery and ensure the on-going development and enhancement of learning and teaching according to the following three main drivers:

Student feedback

The Student College Representative reports formally to the Programme Committee and/or through student representatives for each group during meetings with the Management Team timetabled once a term

Student performance
Faculty professional or pedagogic development input.

These activities are overseen and coordinated by the Academic Advisory Board comprising four senior members of the faculty and chaired by the principal. The academic Advisory Board meets every two months.

External relevant partners

ICOM has no degree awarding powers; however, at least until 2022 the College will continue to have shared responsibilities with the University of Greenwich (UoG) with regard to programme specifications, processes for curriculum change and development, staff development and operational aspects of academic regulations. The role of the University is to maintain responsibility for quality assurance, programme monitoring, link tutor monitoring and for student progression and award examination boards. Students enrolled prior to September 2018 abide by the University’s academic regulations for taught awards and University student policies (i.e. extenuating circumstances, academic appeals). ICOM is responsible for the subject content and annually reports to the UoG after major Review processes (the last review took place in December 2017)

Furthermore, the College continues to engage with, and ensure compliance with all required processes, policies and requirements of the British Acupuncture Accreditation Board (BAAB) which is its professional and statutory partner. Students recruited from September 2018 are not eligible for student loan funding and do not receive the degree award. However, they follow exactly the same programme; there are no changes to the curriculum, staffing or assessment. The award they receive is the same as all students have received since 1977, the Licentiate in Acupuncture , offering entry to professional registration in the UK with the British Acupuncture Council (BAcC) .

As a Higher Education Alternative Provider ICOM complies with the requirements of the quality code and it is annually monitored by the Quality Assurance Agency (QAA) and Office for Students (OfS) . This ensures that our students are eligible for students finance through SLC(s), are monitored according to the indications of the Prevent Team and can resort, if needed, to the Office of the Independent Adjudicator (OIA). This will be the case at least until 2022 when the final cohort of current eligible students will have completed their degree award or withdrawn.

Operations of internal management and governance

As per the guidelines of The Higher Education Code of Governance, OfS and the Nolan Principles of Public Life, ICOM governing body

has independent members who are fit and proper certified
its constitution, terms of reference and regulations are available on Companies House
keeps a register of relevant conflicts of interest
protects the reputation of ICOM by reviewing all the policies that are in place
in order to fulfil ICOM mission statement, monitors how the Management Team and Programme Committee enforce and follow those policies; the Board records these activities in the minutes of meetings which provide evidence of how the Board maintains oversight of the institution’s compliance with relevant legislation and regulations
acts as a critical friend, including advising on strategy and its effectiveness
monitors the quality of educational provision ensuring that the requirements of all the external bodies (BAAB, UoG, QAA and OfS) are satisfied
reviews regularly ICOM’s finances overseeing
the activities of the Student Administrator, who logs in the SLC funds on our dedicated server, and the Bursar, who processes these monies;
the activities of the Clinic and College income and expenditures;
these records are then are audited and certified by an independent accountant.

This is achieved through a strong partnership with the Management Team and Programme Committee whose activities are coordinated by the Principal supported by the Director of Studies, Director of Clinic and Academic Advisory Board. An elected member of the programme committee ( Faculty Representative ) always sits at Board meetings to ensure that the students’, patients’ and staff members’ voice is heard. To increase clarity in reporting, the Director of Studies, Director of Clinic and members of the Academic Advisory Board are invited to Board Meetings and ad hoc designed Strategy days. Conversely, a member of the Board is customarily invited to Management Team and Programme Committee Meetings to hear directly the voice of staff and students. Furthermore, one of the directors is a member of the general public and patient of the ICOM clinic. Finally, Board members have access to all activities of the Management Team (Minutes of meetings, Planning, Notes and digital chats) through MS Office365 digital platform in order to ensure that, even though the Board of Governors meets three times a year, there is a continuous exchange of information between the Management Team and the Board.

The members of the Programme Committee are specialists and/or practitioners in their own fields, mostly in acupuncture and other areas of Chinese medicine or conventional medicine. All leaders of academic courses are qualified teaching professionals, whereas Clinical courses are led by senior practitioners with at least 15 years of clinical experience. Collectively they are responsible for enhancement actions as part of the course monitoring, annual monitoring, assessment monitoring, response to external examiners commentary, and student feedback. Student feedback is collated via formal course evaluations, the Student College Representative reporting formally at Programme Committee Meetings, Students’ Portfolio presentation (as part of their professional development module) and through specifically timetabled meetings between student representatives and relevant members of the Management Team.

Programme Committee members, supported by the student administrator, also have pastoral wellbeing duties and act as personal tutors who meet their tutees at least once per term (being available to offer additional support if required).

A selected group of teaching staff constitutes the clinic supervisors’ team who is responsible for the students’ technical/clinical education as well as the transmission of the ethical values informing Acupuncture intervention as laid out in the British Acupuncture Council (BAcC) Code of Conduct . The clinic supervisors are supported by the Clinic and Practice Manager and the Clinic Director.

This combination of professional teaching skills and small class sizes results in a high level of personal student support and attention which is evidenced by the commendations received by the QAA team during their last annual monitoring visit and zero complaints escalated to the Office of the Independent Adjudicator (the college is part of the Independent student complaint scheme for England and Whales).

External stakeholders

The award has been developed by the college programme team, with input from students, University colleagues, external examiners and the professional body. The validated degree programme has been designed to meet key UK higher education requirements. It meets the UK Quality Code for Higher Education requirements and levels of learning. The college follows traditional HE practice in that each full year of study enables students to gain 120 credits and over three full years, the degree award of 360 credits. The programme must therefore meet the requirements of our university partner and of the Quality Assurance Agency ; the learning outcomes of each course link back directly to the overarching aims of the programme. The assessment opportunities are carefully designed to meet learning outcomes and the standards set for the award are appropriate for qualifications at the level.

Academic Standards

University

The University oversees the maintenance of academic standards relating to the programme and assists the College to ensure that standards are maintained and enhanced according to the UoG Quality Assurance Handbook. The University Link Tutor and the School’s Director of Learning and Quality lead this support.

External Examiner

Appointed by the University, one of the roles of External Examiners (EE) is to ensure that integrity and appropriateness of academic standards are maintained.

Link Tutor

The Link Tutor has responsibility for supporting the programme throughout the academic year. The Link Tutor chairs the Subject Assessment Panel meetings where college faculty members (Programme Committee) monitor each subject’s and students’ performance twice a year and discuss actions and proposed changes, alongside the external examiners. The Link Tutor also

attends or chairs the Progression and Award Board meetings where the college’s courses are externally monitored and where student profiles are discussed. The Link Tutor also produces an annual report to evaluate the ongoing operation of the programme

The outcome of the major reviews conducted by the University in December 2011 and again in January 2017 concluded that the programme was approved unconditionally

BAAB

Professional accreditation by the professional acupuncture body (BAAB) entails annual and periodic monitoring of the programme. The ICOM programme continues to meet the requirements of the BAAB in terms of content, learning hours, clinic hours and codes of practice, evidenced in the mapping of all courses to the Standards of Education and Training for Acupuncture 2011 ( SETA ) and following the rules of the BAAB Accreditation Handbook.

The BAcC’s SETA have informed all parts of the curriculum and learning outcomes for the programme. The programme has been designed to permit those students who successfully complete all courses at each level of the programme to satisfy the expectations and requirements of the SETA, thus equipping them with the professional standards and skills of the healthcare practitioner in acupuncture. Successful graduates are eligible for professional registration with the BAcC.

The BAcC Standards of Practice for Acupuncture (SPA) are the set of professional standards to which all practitioners must comply, and these reflect much of the learning and teaching taking place within the programme. The renewed accreditation visits are comprehensive and include observing lectures, observing clinic supervision, meetings with management team, lecturers, and students, examining all institutional documentation including financial accounts, resources, and facilities management. The University concluded in their major review in 2017 that “ICOM are subject to both QAA and BAAB monitoring processes with each having a different approach. The University are reassured that the BAAB ensures a bespoke QA process which is developmental, rigorous, illuminating and has produced an excellent result for ICOM. ICOM considers this to be a very important developmental process which enables them to be critical and to enhance standards professionally.” The BAAB approved the programme unconditionally in April 2022 and awarded the maximum period of accreditation (6 years) at its latest major periodic review.

CHAC

ICOM, through its longstanding founding of, and association with, the Council of Heads of Acupuncture Colleges (CHAC) is actively involved in discussions of educational standards and quality and in sharing best practice and staff development opportunities.

Public Benefit and Achievements

ICOM is a world-renowned acupuncture training college, founded by Dr Van Buren in 1972.

In its long history, ICOM has been a major contributor to the development of Acupuncture in the UK and one of the founders of the UK Acupuncture professional body : The British Acupuncture Council. As the oldest College in the country, ICOM has strived to instill in its graduates a sense of solidarity and responsibility, healthy discipline, regard and reverence for the suffering of others combined with self-respect and the highest academic standards. In effect, ICOM graduates are

among the most important Chinese Medicine Scholars in the West . Just to mention a few relevant examples:

Giovanni Maciocia
Prolific author of Clinical textbooks which are essential readings in almost all western Chinese Medicine colleges/universities around the world (Europe, Russia, USA, Australia, New Zealand, Israel etc.)
Peter Deadman and Mazin Al-Khafaji Authors of the most respected and sold Point Location Book produced by Western Scholars
Julian Scott

Author of influential pediatric Acupuncture books

Peter Firebrace Editor of the Press company responsible for the dissemination in the UK of the Classical Approach to Acupuncture
Joan Duveen

van Buren’s pupil who is teaching extensively around the world

In almost 50 years of practice the college has licensed 800 Acupuncture practitioners and treated thousands of patients in its clinic ( last year the ICOM clinic has administered 5000 treatments ) becoming a centre of attraction for patients in the whole south of England. ICOM has helped hundreds of patients to regain their health where ~~as~~ other medical institutions have failed them.

Although ICOM is only a small institution, its influence has reached the USA, Israel, Finland, and Australia where colleges are still following the footsteps of ICOM founder dr. van Buren. In fact, ICOM small classes are designed to make the journey of its students akin to the traditional Chinese Pupil/Teacher apprenticeship: a balanced blend of academic rigour and practical clinical applications. At ICOM students learn that health and illness are not separate entities but rather the two extremes of a continuum where life unfolds. The more we move away from life and from the optimum yin/yang balance, the more we move towards illness.

THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (UK) LTD

Report on the Accounts for the Year Ended 31st August 2022

TRADING AND PROFIT AND LOSS ACCOUNT

Income has reduced by 14.33% on the previous year, to £268.5k. Within turnover, student fees have shown a 21.26% decrease (£56.3k), with post graduate fees experiencing a small increase.

A gross profit margin of 31.59% was achieved, compared to 35.87% last year.

The charge for wages has reduced compared the previous year, at £172.5k compared to £191.2k last year. No grants were received this year (prior year £22.2k).

The administrative expenses show an overall increase of £4.0k with the following main movements: -

Light and heat up £2,045
Non payroll staff up £6,616
Equipment repairs up £5,895

4. University fees down £4,000

5. Bookkeeping down £3,317

There is an overall surplus for the year of £8,047 compared to the surplus for the previous year of £58,899.

BALANCE SHEET

Fixed assets relate predominantly to the freehold property site where the college is run. The college spent £9,588 on capital expenditure during the year.

Trade debtors (student fees outstanding) have increased from £5.8k to £7.6k at the year end.

Prepayments remain at a similar level to the prior year.

Bank and cash balances remain at a similar level with £197,955 at the year end, compared to £201,179 last year.

Amounts due to suppliers is £2,300, which is down on the prior year.

Other creditors include fees paid in advance £120,076 which has increased substantially on the prior year.

Eileen’s loan (a former director) is also included in other creditors at the reduced amount of £2,500 after repayments totalling £7,500 during the year.

Provisions for expenses relate to the audit fee accrual. The PAYE creditor relates to the August 2022 liability for tax, NI and pensions, paid in September.

Creditors also include £28,593 in respect of the bank loan.

At the year end the company had net assets of £422.8k compared to £414.7k at the end of the previous financial year

Reserves Policy and Future Plans

We do not have any material financial investments and we do not hold onto any restricted funds. The only key factors that may affect the financial position of the college is a decrease of student numbers. The college has been proactive scheduling more Open Day’s (the feedback is positive so far, and we anticipate that our numbers will increase) and increasing our promotional activities. However, to make sure that we will still be financially viable we continually look at other revenue streams such as: collaboration with other providers (Chinese Medicine Herbs Courses, or foreign colleges interested in our now-how); new modes of delivery (online and/or blended courses); increased implementation of post graduate course. Furthermore, now that the clinic has been refurbished and we can offer other treatments alongside acupuncture, we expect an even higher

patients’ turnover and anticipate that the consequent income will increase our financial security. We have analysed our expenditure in detail and saved costs in many areas.

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee(if any)
David Jinks	Chair		Board of Governors
GuyCalcutt	Trustee		Board of Governors
Amanda Edwards	Trustee		Board of Governors
Robert Elliot	Staff Representative		Board of Governors
HollyLedson	Trustee	Appointed 2/22	Board of Governors
Alan Brook	Trustee		Board of Governors
Richard Jinks	Trustee	Appointed 2/22	Board of Governors
HarryChummun	Trustee	Appointed 2/22	Board of Governors

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) David Jinks Position (eg Secretary, Chair Chair, etc) Date 14/6/2023

tements nded31 Au ust 2022 icine

The Internation e oFOriental te f theF' atkcial Sla rihey Ended3l men 2022 Page Company tnformation Bolan¢e Sh¢¢t Not¢s to the Financial Statements

eln mati Medi nal eof Limitcd Com an Information forthc Y Ended 3 DIREcfoRS: D W Jinks GWDKC8kutt M5 A B Edwards RJ Flliott E B&sa8lll AMBrooks RJ Jinks Hchummun M$ H R LeAlson SECRETARY: M5 A M Guttttt RECJSTERED OFFICE: Van Burell House Green Hedges Avenue East Grinstead West Su85ex RHI9 IDZ REGISTERED NUMBER: 01315642 (England and Wales) AUDITORS: WM Audtt LLP Chartered Accountants & Stats]tory Auditors Thatcher House 12 Mount Ephraim Tunbridg¢ W¢lls K¢nt TN4 8AS CEIAIRMAN: D W Jinks P¢1

c Intem mited eof i tercd nu icinc 13156 Balance Sh 2022 2021 Notes FIXCID Assrrs Tangibl¢ assets 366,078 359,106 CUR1 Nf ASSETS Debtors Cash at bank 19,733 197,955 17.194 201,179 217,688 218,373 CREDITORS Amounls falling due within on¢year (143,9581 (134,187) NET CURRENT ASSETS 73,730 84,186 T¢yfAL ASSETS LZSS CURRENr LIABILITIES 439,808 443.292 CREDITORS Amounts falling due after more than one year (16,9951 {28,526) NKT ASSETS 422,813 4l4,766 RESIIRVES Income and expenditure a¢¢ount 422.813 414,766 422.813 414,766 The fjnllnGial st&tetnents hive been prepared and delivered in accordance with the provisions appli¢able to companies subje¢t to the small Companies regine. In accotdan¢e with Section 444 of th¢ Componics Act 2006, the In¢om¢ Stat¢ment has not been delivered. Thc fJnan¢ial statements were 8pprov¢d by the Boaid of Directors gnd auihorised for issue on 2 F¢bruary 2023 and were signed on its behalf by, D W Ji*- Director The llOte8 forni part of these financial statements Page 2

Medicine Limited No (Drl s lo the Financial Statements t 2022 AccouNfING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS These financial statements have been prepared iii a¢cordgnc¢ with Financial Reporting Standard 102 'Th¢ Financial R¢porting Standard applicable fft the UK and Republic of Ireland" including the provisions of Section IA "Small Entities" and the Conipanies Act 2006. The financial slatements have been pr4)ared under the historical ¢05L convention. TURNOVKR Turnover i5 mea5uird at the fair value of the ¢onsideration received or r¢ceivable, excludin8 discounts. rebates. vaiue added tax and oth¢r sales te$. TANC#lBLE FIXED ASSEI DePrjation is provided at the following innual rates in order to lte off each asset ov¢r its ¢stimated useful FTeehold prop¢rty Library Fixtures and fitti15 Coniput¢r equipment 15Vo on reducing balance 15Tr/0 on reducing balance ISO/o 011 reducin8 balance 25¥0 on redu¢ing bal&n¢e Freehold property is depreciated on the log cabin ¢lement oiily. TAXATION T&¥ation for the year comprises current aThd d¢fe)T¢d t&x. Tax reCOplse41 in the Income Ststement. except to the exteii¢ that Lt lateS to Itemg reeogttised in othere0Mp1)SI¥¢ income or directly equity- tor defeLTed taxation assets and liabilities are not dis¢ounted. Cllrr¢nt tax is te¢ognised at the amount of tax payRble using th¢ tax rates and laws that have been enacted or substantively ena¢ted by the balanw sh¢eL date. DEFERRJ£D TAX Deferred tax is recolS¢d in rnspeot of all timing difftreYJces that have originated but not r¢v¢r5¢d At the balance sh¢¢t date. Timing difftrenees arise from ibe inclusion of income and exp¢nses ill tax as5essmcnLq in periods different from those in which they are re¢ognised in fJnoD¢ial statements. D¢ferred is measured using lax rates and laws that hive been enacted or substantively ena¢led by tlie year end that are expected to gpply to the reversal of the timing differeiice. Unreli¢Yed tax losses and tstlier d¢f¢rr¢d tsx assets ar¢ recognised only to the extent that it is probable that they will be recovered against the r¢vers#l of d¢ferrcd taK liabilities or other fijture t&Yable profits. PENSION cosrs AND OTEIER pOsr-RREmENT BENEFITS The company operntes a defincd contribiilion p¢n5ion 5chem¢. Contributions payable to the company's pension schem¢ aTe chargd to profitor1055 irt the period to which they relate. EMPLOYEES AfiD DIREcfoRS The aver&ge number of employees during the year was 22 (2021- 231. Page 3 continued...

Notes to the Fittaiici8] Statements- coTrtinued 'End TANGIBLE IIIXED ASSETS Fixtur¢5 and fittings Freehold propelty Computer ¢quipinent Library Totals cosr At I Septetnber 2021 Additions 374,905 7.580 8.294 62,822 2,008 27.251 473272 9,588 At 31 Auuus¢ 2022 382,485 8,294 64.830 27.251 482,860 DEPRECIATION At I September 2021 Charge foryear 2Q,238 1,688 7,688 91 60,172 541 26,068 296 114,166 2.616 At 31 August 2022 21,926 7,779 60.713 26.364 I16,782 NET BOOK VALU At 31 August 2022 360,559 515 4,117 887 366.078 At 31 August 2021 354,667 606 2,650 1,183 359,lQ6 DEYfoRS.. AMOUNTS JIALLING DUL WITIIIN ONYL YEAR 2022 2021 Trade debtors Propaymeiits 7.644 12.089 5,876 11,318 19,733 17,194 CREDITORS: Amouprfs FALLING DUE WITFIIN ONE YEAR 2022 2021 Bank loans and overdrAfts (set nots 7) Trade creditors Social security and oth¢r tax Other cr¢ditors Accrued expens&8 11,598 2,300 1,664 122,576 5,820 11,160 4J63 2.133 108,654 7,877 143,958 134,187 CREDITORS: AMOUNTS FALLING DUE AVTER MORE THAN ONK YEAR 2022 2021 Batsk loans (see note 7) 16,995 28.526 Page 4 continuod...

io al Colle Medicine l e Financial Sta(eJnents- continued IAU 2022 LOANS An analysis of the maiurity of loans is given below.. 2022 2021 Amounts falling due within one year or on deinand: Bank loans Icss dian l year 11,598 11,160 Amounts fAlltng due between nvo and five years.. Bank loans. more than l year 16,995 28526 SECURED DEBTS Seciirity is held by lenders in the fonn of a fixed charge dated 1410112020 over the pivperty of th¢ cornpany. RESERVES Income expenditure account At I September 2021 Surplus for Ilie year 414,766 8,047 At 31 August 2022 422,813 10. DISCLOSURE UNDERSECTION 444(SB) OF COMPANIES ACI, 2006 The RepK)rtof th¢ Auditors wfjs unqualified. Joallna Green (Senior Statutory Auditor) for and on behalf of WM Audit LLP RELATED PARTY DISCLOSURES Other ¢d]lOtS include £2.50012021.. £10,000) owed to E McLaren, a fomier dir101. 12. ULTIMATE coFrfROLLIIYG PARTY The cotttrolling paty is D W Jinks. SHARL CAPITAL The compaiiy is limited by guaratttre. Page 5

THE INTERNATIONAL COLLEGE OF ORIENTAL MEDICINE (UK) LTD Report on the Accounts for the Year Ended 31[st] August 2022