| Page | |||
|---|---|---|---|
| ~Re orts | |||
| Legal and Administrative | Information | ||
| Executive Committee | Report | ||
| Report ofthe Independent | Examiners | ||
| Accounts | |||
| Statement ofFinancial | Activities | ||
| Balance Sheet | |||
| Principal Accounting |
Policies | ||
| Notes to the Accounts | 10 |
| NACT U | K tradin as Medical Education Leaders UK |
K tradin as Medical Education Leaders UK |
|||
|---|---|---|---|---|---|
| Statement ofFinancial Activities | |||||
| for | the Year Ended 31December 2023 | ||||
| 31.12,2023 | 31.12.2022 | ||||
| Notes | |||||
| INCOMING RESOURCES | |||||
| Subscriptions | 108,521 | 107,389 | |||
| Meetings | 63,561 | 51,190 | |||
| DEMEC accounting services |
(NACT) | 2,000 | |||
| Other Income | |||||
| investment Income and Interest |
|||||
| Received | 4,460 | 934 | |||
| TOTAL INCOMING RESOURCES | 176,542 | 161,513 | |||
| RESOURCES EXPENDED | |||||
| Direct Charitable | Expenditure: | ||||
| Publications | 4,561 | 6,150 | |||
| Meetings, Courses including |
Council | 38,304 | 45,104 | ||
| Meetings | |||||
| Rent | 5i400 | 4,950 | |||
| Consultancy fees |
11,294 | 41,106 | |||
| StaffCosts | 68,568 | 72,049 | |||
| Other Costs | 11,094 | 11,263 | |||
| 139,221 | |||||
| Management and |
Administration | 2,635 | 180,622 | ||
| Loss on Disposal | ofAssets | 406 | 2,463 | ||
| NET INCOMING/(OUTGOING) | 34i280 | (21,572) | |||
| RESOURCES FORTHE YEAR | |||||
| Net movements | offunds NACT UK | 12 | 34,280 | (21,572) |
| NACT U | K tradin | as Medical Education Le | aders UK | |||
|---|---|---|---|---|---|---|
| Balance Sheet | ||||||
| 31December 2023 | ||||||
| 31.12.2023 | 31.12.2022 | |||||
| Notes | ||||||
| FIXEDASSETS | ||||||
| Tangible assets | 945 | 1,665 | ||||
| Investments | 5,027 | 5,027 | ||||
| 5,972 | 6,692 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 9 | 35,354 | 40,648 | |||
| Stocks ofdirectories | and stationery | 159 | 68 | |||
| Cash atbank and in | hand - NACT | 16 | 317763 | 343,802 | ||
| 353,276 | 384,518 | |||||
| CURRENT LIABILITIES | ||||||
| Creditors faging due | within one year | 11 | 91,040 | 157262 | ||
| NET CURRENT ASSETS | 262,236 | 227,236 | ||||
| TOTAL NET ASSETS | 268,208 | 233,928 | ||||
| REPRESENTED BY: | ||||||
| FUNDS AND RESERVES | ||||||
| General fund | 12 | 268,208 | 233,928 |
| INVESTMENT IN | CO | ME | AND INTEREST | RECEIVABLE | ||
|---|---|---|---|---|---|---|
| 31.12.23 | 31.12.22 | |||||
| Bank interest | 4i089 | 563 | ||||
| Dividends | 371 | 371 | ||||
| 4,460 | 934 | |||||
| DIRECT CHARITABLE | EXPENDITURE: | OTHER COSTS | ||||
| 31.12.23 | 31.12.22 | |||||
| 5 | ||||||
| Postage, telephone, | website and stationery | 4,921 | 4,658 | |||
| Travel and accommodation | expenses | 3,697 | ||||
| Handbook, directories |
and | flyers | (26) | |||
| Depreciation | 314 | 555 | ||||
| Office, administration | and | miscellaneous | 5,147 | 1,129 | ||
| Subscriptions | 712 | 1,250 | ||||
| 11,094 | 11,263 | |||||
| MANAGEMENT | AND ADMINISTRATION | OF THE CHARITY | ||||
| 31.12.23 | 31.12.22 | |||||
| 5 | ||||||
| Independent examination |
and accountancy | 2,635 | 2,463 | |||
| 2,635 | 2,463 |
| ther s | taff costs were as follows: | ||
|---|---|---|---|
| 31.12.23 | 31.12.22 | ||
| Wages | and salaries | 60,350 | 62,295 |
| Social | security costs | 976 | 1,951 |
| Other | pension costs | 7,242 | 7,803 |
| 68i568 | 72,049 | ||
| Direct | charitable | 68,568 | 72,049 |
| 68,568 | 72,049 |
| TANGIBLE FIXEDASSETS | ||
|---|---|---|
| Computer | Office | |
| equipment | equipment | |
| COST | ||
| At 1 January 2023 | 13,505 | 417 |
| Additions | ||
| Disposals | (9,358) | |
| At 31December 2023 | 4,147 | 417 |
| DEPRECIATION | ||
| At 1 January 2023 | 12,153 | 104 |
| Charge for the year Disposals |
236 ~9992 |
78 |
| At 31December 2023 | 3,437 | 182 |
| NET BOOK VALUE | ||
| At 31December 2023 | 710 | 235 |
| At 31December 2022 | 1,352 | 313 |
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| Market value | at 1 January 2023 and at 31December 2023 | 5,027 | 5,027 |
| 5,027 | 5,027 | ||
| Investments | at 31December 2023 comprised ofthe following: | ||
| Equities | 5,027 | 5,027 | |
| 5,027 | 5,027 |
| 9. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 31.12.23 | 31.12.22 | ||
| Subscription debtors next year |
27,212 | 37,337 | |
| Debtors | 8,142 | 3,311 | |
| 35,354 | ~40 648 | ||
| 10. | CASH AT BANK AND IN HAND | ||
| 31.12.23 | 31.12.22 | ||
| 8 | |||
| National Association ofClinical Tutors '1809 | 43,705 | 23,582 | |
| National Association ofClinical Tutors s1817 | 114,058 | 240,170 | |
| National Association ofClinical Tutors s3396 | 80,050 | ||
| United Trust Charity Account | 80,000 | ||
| Cambridge &Counties Savings Account | 80,000 | ||
| 317,763 | 343,802 | ||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.23 | 31.12.22 | ||
| Trade creditors | 6,532 | 2,984 | |
| Other creditors | 2,004 | 1,829 | |
| Accruals | 1)540 | 1,540 | |
| VAT | 2,054 | 1,717 | |
| Deferred income | 58,966 | 47,644 | |
| Funds due toDEMEC | 19,944 | 101,568 | |
| 91)040 | 157,282 | ||
| 12. | PROFIT RECONCILIATION | ||
| NACT | DEMEC | ||
| Fund | Fund | ||
| 8 | |||
| Current Year Income | 176,542 | ||
| Current Year Expenditure | 142,262 | 1,373 | |
| Transfer ofFunds | 80,251 | ||
| Excess ofincome over expenditure | 34,280 | (81,624) | |
| Fund balance brought forward | 233,928 | 101,568 | |
| Fund balance carried forward | ~268 2 | ~99 4 |