FlThancial St4temcnt5 & Re rtofth Inde endent Exarniners for the Yegr Ended 31 Deeember 2024 for NACT UK tradi 9$ Medicgl Education Leader5 UK
Contents of the FiiJAn¢ial Stateinent fvi. Ilie Year Elided 31 December 2024 Page Leg41 and Admlnlstratlve IDformAtlon Executive ComTnittee Report Report vf the Independent Examiners Account$ Statement of Flnan¢lg1 Activities Balance Sheet Prinelpal Aceountkng Pollclcs Note$ to the Accounts 10
ACT UK Ir as Medicsl EducAtloii Lead¢r$ UK c al And Admlnlsti'rttlvo Inform%tio for th Year Ended 31 December 2024 Honorary Oftlcers and Executlve Committee Dr S Lord Miss I Laiigdon Di. S Raffei'ty Dr M Bukhari Miss H Callcttnole Dr M Davi&vn Dr E Briggs (Chaii.) (Vice Chair) IHot]orary Joint Seeretsryl {Honorary loini Secretary) (Hoijoraiy Absislajit Secrelary) (HonoTary TaSurer} (E(litoi' & PR Officer) PrlncipAI Office NACT UK L15, Blet¢liley Business Cainpus 1-9 Barton Road BLETCHLEY MK2 3HU Telephone.. 01908 272898 Fax.. 01296 715255 Email.. Jce nact.o .uk & office mededl¢ ders.co.iik Ch#rity Registration Number 295172 Aecount4nt Xeinadin Moreton House 31 High Stiret Buckingham Buckiiigliam511ire MK18 INU Bank HSBC PIC 117 Great Poillan(I Str¢et L()ndon WIA4UY Page I
NACT UK tradi AS Medieil Education Leaders UK Execiilive Coiiiinittce Re ort lie Year EndLd 31 DetL'inbLr 2024 roi. The Executivc Coinmiltee PTe5ent the statutory report with the accounts of NACT UK ttading a5 MediGal Education Leaders UK foi. the year ended 3 1st Decejnber 2024. Thc results for the ycar are pirsented in thc forni of a Staten)ent of Fillan¢ial Activities, whieh inco4)orates the tr&dilion&l incoine and expendituir account, in ordei. to comply with th¢ Rcvis¢d Stdtemcnl of R¢¢omm¢nded Practi foi. Chariti¢s, as issued by the Chariry Conm)issioi) iji Ociober L995 and as identified iii the Charities Act 1993. CONSTITUTION The Natioiial Asso¢ialion of Clinical Tutors (now known AS NACT UK tradsng a5 Medical Education Leader5 UK) was form¢d in 1969 as an uninco]porated asso¢iation. It is goveTned by the coiistitutioii rule5 ratified at the AGM of 12 May 2023. PRINCIPAL AIMS The object of the Association shall be the promotion of medical education ai)d professional development of i))edi¢al educators in all its aspects. This object shall be attained by holding at least oiie Jneeting antlually for the di5CU5sioJi of any relevant malt¢rs aiid by su¢h means as tlie Council shall approve. MEETtNG AND COMMUNICATIONS NAcf UK irading a5 Medical Educalioji Lcadcrs UK n]n atjd orgaiii$e nalional m¢¢lin¥s which ate open to m¢mbEts and non-m¢mbei3. The aiin of tlicsc Jnectings is lo infonn and ediicate all Iliosc involved in ihe delivery of p05tgi3duale illedical ediication on the curirnt and changing pro¢ess and sli'u¢tLire of postgraduate medical educatioii. NACT UK tradig as Medical Education Leaders UK keeps in touch with its member$ by a monthly Mailchimp newsletter, and througli an active email cascade. It represeDtS its Jnembers on the Conference of Poslwduttte Medical Deans (COPMeDI, English Dean5 (HEEDS) as well as tluY)ugh comn)itlees of the Academy of Medical Royal Colleges IAOMRC) and olhei. related organisations in the four couiilries of Ilie UK. It maintains personal contact witli th¢)se involved in the manogemetht of postgraduate mcdical education at naiional levels. ORGANISATION NACT UK trading as Mcdical Ediication Leaders UK ha5 a Chaii., a Vice Chair, an Honoi2ry Secrctary, an Honorary Treasurer, an Honoraiy Assistant Sccretary, artd a Public Relations Coimnunieations OffiecrlEditor. The officers are elected by the inembership al each tUl1 General Meetiiig and noiie can serve for more than two thr¢¢ year leLJns in aiiy one post. CURRENT OFFICERS {AT 31 DECEMBER 2024) Thc following were electedlre-elecled at Ili¢ AGM held on 24 May 2024.. Clioir Vice Chair Hon. Joirtt Secirtary Hon. Jvint Sccrctaiy Ilon. Treasurei. Editor & PR Offjccr A5SlStant Hon. Secrctary Dr S Lord Miss l Langdon Dr S Raffcrty Dr M Bukhari Dr M Davison Dr E Briggs Miss H Cattermole The Officeis air its regulai coatacl. especially by email, Messaging app, t¢l¢pholle ¢onf¢ret)cing and phone, aiid meet once a month throughout the year. Page 2
NACT U trAd s Medical Eduegtloii Leader5 UK Exe¢iilive Comnilttet Re ovt for the Ye*r Ended 31 Deceiiiber 2024 COUNCIL The Coiincil coll5l5ts of all the Ol¢erS and a Dsi'ector of Mcdical Edu¢ation or cquivalent provid¢r-based medical education Icadcr repiesentalive fiotn each NHSE region in the Unitcd Kingdom, (noirnally elccttd by their DME colleagues in that region), together with co-opted mcmbers from the P05tgiBduale Deans {COPMeD). the National Association of M¢di¢al Education Mana8ei's (NAMEMI, FoundationPIDgrainThie DiieGtors, SAS TutoiB and various oiher bodies. Itmeet5 foul" liines ayear lo update iepiesentalive5 ort ¢urrent issues in postgraduateinedical educaliojj, operational and other activity by the Associaiion ond discuss tUre strategy for the Offjeers to inipleinetst. In May 2022 tlie AGM raliflcd Council's propo8al to change th6 name of the organisation frojn FIACT UK to Medical Education Leaders UK, a5 well a5 a new constitution. STRATEGY AIYD SURy OF ANNUAL ACTIVITIES The Officeis and Council work to the sti?tegy for Medical Education Leaders UK as set oiit iii a Council Jneeling each year. We contitlue to aijn for all leaders in medical educatioii to be members, including DMES aiid Clini¢al Tutors and tlicir associate5 aiid deputies, Fouiidalion Progi?mine Directors, SAS and LED Tutors. nic A5sociatson 15 supported in this aim by COPMCD. The importancc of Ilie i'ole of tl)e Director of Medital Educatioli is recogniscd by COPM¢D and thc GMC uiid detailed in the 'Organisalion ofposlgi'aduale Medical Education atth¢ pi'ovider level. published by the oiganisati()Ji in AugElSt 2QO7, update(l April 2013. An updated job dcscription (2020) 15 alsD ivailablc on the Medical Educution Leaders UK w¢b site btt ..I/Tn¢dedl¢Rd¢rs.¢o.uk}, IEflecling the ijicreasing cOPItAllY and impoilancc of Ilie job and slTesses that the tim¢ involved should be propei'ly allocaied atjd rewaiY]ed. The Coiisultant ContL"a¢t ¢i)dorses r¢quired planned sesSi0115 known as piY)gi?i))med activities (PAs) for educational activity and the new NHSE Educational Contract also makes this time requirement clear. The organisalion workq closely witli COPMeD and NHS England INHSE) a$ well as NHS Education for S¢otland INES), Health Education atld Tmpn)vement Wales IHEIWI, Nort]iern IreldDd INIMDTA) dnd NHS EinployeiE and will continu¢ to maintain liai50n with utherorg2nisation$ wilh similar interests. These inGlud¢: AOMRC, NAMEM, NHS CoDfederalio and a numbcT of Royal Colle¥es. Council mernbcrs eontlllue tu be appointcd. irt Ih¢ir uwn riglit, lo working 8IDUP5 wiihin GMC and NHSE. Tli¢ officers and soine members of Coujicil rcgularly represent the organisatioii at national level at a wid¢ nuimber of stakeholder meetings and continuc to be consulted on tLeW do¢un)ents and initiatives witliin thc field of postgraduat¢ medi¢&l ¢du¢atioii. Ongoitig changes to educatlon govemanee in England continue to P05e chall¢nges atjd oppoi%unitjCS Wlth which the ¢ouncil and widei. meinber5hip are cngagB(l. In particular we have contributed to and will GotJlinu¢ to interact with the medi¢al edii¢ation training revicw and the consequences of thc dissolutioii of NHS England. The development progrdmjne for cducalional leaders provided by Mcdical Education Leader5 UK"Basics for LeAdersliip in Medical Education (BLIMEI is delivered ill two parts - CorBLIME - recojnnicjided for all new m¢Ii)ber cotegori¢s and MorBLIME, for thos¢ who wisli to update their knowledgt. These ¢onlinue to be popular. at]d well received by allendee5, who as well a5 DMES includ¢ Foundation aiid oihej. TTaining Programine Directors, Heads of Scliool and SAS TutoiB. Thc oi'ganisation's event5 pi"ogramme is also an opportunity for sclf-development and networking. In 2024 we h¢ld a Foundation Sharing Event ill Blliningham aNi SAS Tutor meeting in Oxlord. Page 3
NACT UK tradln gs Medical Edueition Leaders UK EKcciitÉYe Collimitlee Re ort for tlie Year nded 31 Deeeniber 2024 Medical Education LeadeiE UK will conltnlle lo sllpport an annual exchange Fellowship in the fulure, this ¢i)uld continue to be Nvrth Carolina in the USA, although di5CU5SlQll5 are being held lo ron5id¢r other worldwide localions in the future. The officers, council and members ctsntinu¢ to work towards the core aims of valuing tnedscal educatois. To that end a set of slartdards for valuing inedical educatOlE ha5 been 'Itten and publiciscd both on the web 51te and via social media. li was also a core part of the Amiual Conference (fomierly Spi'ing Meeting) iii May 2024. It) the last year we liave delivered our ftrst small grants {toial valu¢ £5000) to support research in the core theme of supporting niedieal edllcalors. In 2025 w¢ will give out our fJr$t awards foT ex¢ell¢nce in medical catiOn ai (he aTUal conferet]ce in May 2025. DCI PARTURES. ARRtVALS AND ACKNOWLEDGEMENTS There have been no changes to the ¢oun¢ll oftl¢ers. We re¢ognl$c the help of all members Including p#rtieulirly Helen Steed who hA8 made significant contributions to our orgalli5ation tlii5 year. Tlie Officer5 and Coiincil would also like to thfink Mrs Anita Rodger$ And Mrs MS¢lielle Atkin$ for thelr work supporting the orrice, alld our EducAtion Advlsor Dr Slmon Frazer for supporting tducational evcnts and promoting our orgAiilsAtlon throughout thc ycar. Page 4
NACT UK trRdln a5 Medl¢al Educatloii Le&ders UK Exeeiitlve Commlttee R¢ rt ror the YL'*r Ended 31 Decen]bLir 2024 FINANCIAL INFOIIMATION THE CHARITY'S ASSETS Acqui511ions and disposal of fixed &s5ets during the year are recorded it) the notes to th¢ account5. RESERVE POLICY NACT UK Imaiiilains a gcneral fund reserve it] order to und¢rwrile any sliortfalls cncourttered by educatioiial meet5ngs 3nd ¢ours¢s. The reserve fund also g¢n¢rdt¢s iiiterest lo fund thc start-up costs of educational initiativrs. EXECUTIVE CommIE,s RESPONSIBILITY STATEMENT Charity Law irquilrs the Executive Coininitlee. a5 Irusiees, to Plrpbre accounts of the charity for ¢a¢h financial year. I preparing the attaclied accouiits the Executive Committee coiisiders the ¢l)arity has.. sel¢¢ted sllilable accounting policies aiid 8pplied them eonsiStently' made judgeineii15 and ¢stiJnales that aiE reasoiiable ai)d piudent., followed applicablc HGcuunting standards, subject to any maleiial departlls disclosed and explained in Ilie arKounts' prepared the accounts on Ihe goirtg concern basis, as it is appropriale to piEsumc that (he eharity will Gon¢inu¢ in biisiness. The Executive Commiltc¢ has respoiisibilitlc5 for tnaitstaiiiing propcr accouiiting Tecoid5 which disclose with reasonable a¢curacy at any time the fiiiancial position of the Charity and enable il to ensure that the finanGial statements comply with the Charities Act 1993. It also has respo11bJIItleS for safeguarding the assets of tlie charity and for raking reasonable steps to prev¢Dt and delect fraud and other irr¢gularilies. THE EXECUTIVE COMMITTEE The fxeeiitive Committee mernb¢rs constilllte trustee5 of the Charity for the pw'poses of chal'ity Icgislalion. The ExtiVe committee are ele¢t¢d by the n)einbers at the AGM under the ¢onstih]tion of the A550ciation. The followit)g served as Executive Ctsmmitiee Members during the year up to De¢eJnber 2024.. Dr S Lord, Dr M Davison, Miss l Langdot), Dr S Rafferly, Dr M Bukhari. MLS5 H Cattemiol¢ aiid Dr E Briggs. No Exc¢utive Committee mejnbcr received any Temun¢ration for services as a rncnib¢r of the Executivc Coii)mittee in 2024. No ExecutlVE Committee inember Iiad any beneficial inr¢rest in aiiy contract with tl)c Cliarily during the year. INDEPENDENT EXAMINERS Xeinadin w¢re iE-appointed by the BoaTd on 24 May 2024 in accordatLCe With Se¢lion 43 of thc Charities Act 1993. Si1ed on behalf of the Executive Cominitlee Dr S Lord Chair ApproY¢d by the Board on.. Page 5
NAcf UK tradl a5 Medical Education LeAders UK ort of the Inde endeiit Exainincr foi. the Y¢av Ethded 31 DL'LembL'r 2024 We have ¢xainilled the balatjce Sheet and illcojne alld expenditure aGcuunt5 For the year ended 31 Deccinbcr 2024 and the accompanying notes whiLli have been prepared under the historical cost convention and the a¢countin8 policies set out on page 9. RESPECTIVE RESPONSIBILITIES ofi MEMBERS OF THE EXECUTIVE COMMITTEE AND INDEPENDENT EI XAMINER Tbe charity's tiuslees are responsible for the preparation of the a¢counts. The charity's trustees consider that an audit is not requiird for this year utJder 5eeii0n 144{2) of ihe Chariiies Act 2011 (The Charities Act) and that an iiidendent examination is nceded. It is ¢he sponsIbl111Y of le Thependent Exniner to.. Exainine tlie account5 under sectiot) 145 of the 2011 Act, To follow the piD¢edures laid down in the gejjeral directions givell by the Charity Commi55ion {under scction 145(5)b of the 2011 A¢t. and to slate wheth¢rparti¢ular matters have come to my attention. BASIS OF OUROPINION Our exainination was cari'ied out in accordallce with gellcral Directions given by the Charity Coinit)ission. An examination iiicludes a review of tli¢ a¢couDtin¥ r¢¢tsrds k¢pt by Ilie charity aiid a coinparsson of tlie accounts presailed with Ihosc rccord5. li also includes consideration of any utjusual ileins oi. disclosures in the account5 and Seeking explanatlolls from the trustees conceming any such inatt¢15. Thc pro¢cdures undertak¢n do not provide all the evidcnce that would b¢ reqiiir¢d ID an audit, and Collscquently llo opillion is given a5 to whether the aCfQUDts pres¢nt a 'tw¢ and fair, view and the repoit is limil¢d to tho$¢ m2tleiE set out in the stateinent below. We planned and perfoL"med our examination so as lo obtain all the infoi'ination and explanations which we considered iie¢e5sary in ord¢i' to provide us wilh sUici¢t evidejice lo give reasonable assurance that Ilie account5 free from niaterial niis-5tatemtiit. whether caused by fraud, other ilTegularity or enDI'. In forming our opinion we also evaluated the ovcrall adequacy ol Ihe pre5eiilation of ihe infomiation in th¢ acrouiits. INDEPENDENT EXAMINER'S STATEMENT In ¢onn¢ction with our cxainination, no matter has come to my attention which gives us reasonable caus¢ to believe that in, any mat¢rial r¢specl, the reqlliiEmenls'. to keep accounting records in accordance with se¢tion 130 of the 2011 Act: and to prepare accounts wliich aecord with the accounting records and comply with the accounting requirements of tlie 2011 Act have not been Enct. or to wh*ch, in my opinion, attention should be drawn in order to enable a PLx>peT understanding of the account5 to be reached. XEINADIN MoTCton House 31 Hi¥h Stteet Buckingham Buckiiighamshire MK18 INU Page 6
NACT UK tradln as Medle&l Eduegtlon Leaders UK Statement ofFlnanel*l AetivÈlie5 foi. the Year Ended.11 D¢cL'nibL'r 2024 31.12.2024 31.L2.2023 Notes INCOMITrIC RESOURCES Subscriptions Me¢lings Investment Inctsine alld Illterest Received 113,718 37,904 108,521 63,561 TOTAL INCOMING RESOURCES 159,807 176,542 RESOURCES EXPENDED Direct Charitable EAp¢ndituie: Publications M¢eliiigs, Courses sncluding Council Meeliiigs Gi"ui)ts Rent Consultancy fees Staff Costs Other C08ts 380 20,400 4,561 38,304 2,197 5,580 11,5R5 5,400 11.294 68,568 139,171 139.221 Management and Administration 2.655 2,635 Loss on Dssposal of Asseis 406 IYET INCOMINGI{OUTGOING) RESOURCES FOR THE YEAR 17.981 34.280 Net moYement5 offuDd5 NACT UK 12 None of the Charity's activities weiE acquired or permanently dL5COntinued during the above iwo fiiiancial period5. Tlie Chariry has no recognised gains and losses otlier than tlJose shown abov¢ and iherefore no separate statcm¢nt of total Ye¢ognised gain5 at]d losses has bcci) presented. The notes fomi part of thes¢ fmancial statements Page 7
NAcf UK tradln Medlcgl EdueAtlon Leaders UK BglAn¢e Sheet 31 December 2024 31.12.2024 31.12.2023 Notes FIXED ASSETS Tangible assets It)vestm¢nls 2.964 945 7.991 5.972 CURRENT ASSETS Dcbtor5 Stocks of dii'eclories and 5tatioJicry Cash at bank and in hand- NACT 35,675 1,420 J32.098 35.354 159 317763 10 369.193 353,276 CURREI NT LIABILITIES Creditors falliiig diie witliin one year NET CURRENT ASSETS 286,189 262,236 TOTAL NET ASSETS 286 189 268.208 REPRESEI NTEI D BY: FUNDS AND RESERVES Gett¢i'al fund 12 286 189 268,208 l approve the financial statem¢nt5 and confjrm that I have made available all relevant records and infomiation for their pr¢paratioTh. Tlie fit)an¢ial $tat¢m¢tJis were approvcd by the Executive Cominittee on... ai)d wcre signed by.. Dr M Davi Treasur The notes fomi part of these financial statements Page 8
NACT UK tradl as Medlcgl Educfttlon Leaders UK Nol¢$ to tli¢ Flnancial Stitemeiits for the Year Endcd 31 Deeeiijbei. 2024 ACCOUTrITING POLICIES Bg$ts of Accounting The finan¢ial statcmciits have been prq)ared under th¢ hislori¢al Cost eonventiun. These accounts have been prepared accordaiice with applicable a¢¢ounting standaixis, the Statement of Recommended Pi'actice, 'A¢¢ounling and Reporting by Charilie5" issued in March 2005 and the Charities Act 2011. Ineome Income from subscriptions, investments and deposits is ¢redited to the slatement of financial aclivilies on an accruals basts. Expendltllre Direct cliaritable expenditure comprises direct expeiises illCiliTed on tlic defined charitable purposes of the Association. And iiicludes direct staff Costs attributable to the activity and an allocatioo ofgeneral tnaiiagemcnt and overhead costs. Maiiagem¢nt dnd administration costs include exp¢nditur¢ Dn ¥rn¢ral admijiislration and inat]agcm¢ni and cotnplie5 with ctsnslitutional and stathtory requiremcnts. Cash flow Th¢ a¢¢ovnts do not have a statement of cash flow$ bccause the Chai'ily, a5 a small reportiiig entity is exejnpt fmm the requiremlIS to prepair such a 5tatem¢nt under Fiiiancial Reporting Stat]dail I 'Ca5h Flow St3tem¢nts" Tan&iibl¢ flxed Ass¢t$ DepTe¢iation is provided at the following annual rate in order to write off each asset over its cstimaid u5cful life. Office equIpmlt 250/0 per annum ort reducing balan¢¢ Inve5tmeiits Inveslmeiits are included in the balallce sheet as their historic cost. Realised and unreali5ed gains ai)d Ioss¢s ar¢ ¢r¢diled, or debited, to the statemeiit of financial activities iii the year to which they relate. Fund Accounting Thc gcncral fund comprises ihose monies which may be used toward5 rneeting to ¢IrItable obje¢liv¢s of the Charily at tlie discretion of the Exc¢uiive Comn)ilte¢. Taxatlon The Chariiy is a irgistered eharily, and therefore 15 not liablE to Tncome Tax orcoiporalion Tax on income derived fiom ils choistable a¢tiviti¢s, as it falls within thc various cx¢niptions available to registered charities. Th¢ iiot¢s fomi part of these financial statements Pa8e 9
NA K trAdin as Medleal EducAtlon Leuder5 UK Notes to tlie Trinancial Statements for thL¥ Year Ended 31 DecernbL'I' 2024 INVESTMENT INCOME AD4D INTIIREST RECEIVABLE 31.12.24 31.12.23 Bank int¢r¢st Dividends 7,814 371 4,089 371 8,185 4,460 DIRECT CHARrrABLE EXPENDITURE: OTHER COSTS 31.12.24 31.12.23 Postag¢, tclephone, website aTLd stationery Depreciaiioll Office, adininistration and iniscellaneous Sub5crspliot)s 970 9¥8 15,254 8,650 4,921 314 5.147 712 25.862 hW4AGEMENT AND ADMINISTRATAON OF THE CHARtTY 31.12.24 31.12.23 Independeiit exnimal1011 and a¢counlaThcy 2,655 2,635 2,655 2,635 STAFfi COSTS AIYD EXECUTIVE COMMITTEE MEMBERS, REMUNERATION No inemberof the Exe¢utivc CoJnJnittee irceived any r¢mun¢i'ation in respcct of their services as a mcjnber of the Executive Committe¢ during the year (2024- £llil) Total expense5 reimbur5cd to members of th¢ Executive Commitlet during the year wa$ £950.> primarily for reimburs¢m¢nl of travel eXpendITE. Other siaff cosis were as follows.. 31.12.24 31.12.23 Wages and salaries Social 5eCUIity ¢(tsts Other pension Costs 64.468 963 7,736 60.350 976 7.242 73.167 68.568 DiTect Charitable 73,167 68,568 The note5 foml part of these financial ststemelltg Page 10
NACT UK tradln as ntl n Leoder5 UK Notes to th¢ Fln8nclAI StAtenient$ for the Year Ended 111)ecember 202 TAXATIOIY NACT UK trading as Medical Education LeadaE UK is a r¢gist¢r¢d chai'ity and ibeiEfore 15 Iiot liable to in¢om¢ or¢oJporation tax on income deiived from ils ¢haritable a¢tiviti¢s, as it falls Wjthinthe variousexeinptions available to registeird chai'iti¢$. TANGIBLE FtXED ASSETS CompMt¢r e4UlPlll¥llt ofrice equlpment COST At l Jaiiuary 2024 Addition5 Disposals 4,147 3,007 417 At 31 December 2024 7,154 417 DEPRF,CIATION At l Jalluaiy 2024 Charge for the ye&r Disposals 3,437 929 182 59 At 31 Dccember 2024 241 NET BOOK VALUE At 31 Deceniber 2024 2,788 176 At 31 December 2023 710 235 The nei book value at 31 December 2024 repLESents tangible fixed as5et5 Used in carrying out the direct choriiable activitlB5 of ilie Association. INVEI STMENTS 31.12.24 31.12.23 Historic cost value at l January 2024 and at 31 Deeember 2024 5.027 5.027 5,027 5,027 liivesttt]ents at 31 December 2024 comprised of the following.. Equities 5,027 5,027 5,027 5,027 The llote5 fottn part of these financial statenients Pagell
dln UCAtlon Lefjders Notes to the FlnAn¢llll Statements for the Year r. ded 31 Decetnber 202 DEBTORS: AMOUNTS FALLIF4G DUE WITHIN ONE YEAR 31.12.24 31.12.23 Subscription debtors next yea Debtors 34.654 1,021 27,212 8.142 10. CASH AT BANK AND IN HAND 31.12.24 31.12.23 National Association of Clinical Tutors 1809 National Associatiot] of Clinical TutOTS 1817 Uniied Trust Chai'ity Account Cambridge & Counti¢s Savings Ac¢oun¢ 35,226 131,608 81,572 83,692 43,705 114.058 80,000 80,000 332,0518 317.763 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Tradc creditors Other creditors Accruals VAT 4,445 1,997 1,540 6.532 2,004 1,540 2,054 58.966 19,944 DcfeiTed income Funds du¢ to DEMEC 63,069 19,944 90,995 91.040 12. PROFIT RECONCILIA TION NACT Fund Current Year liicome Curi'eiit Year ExpejiditE Transfer of Funds 159,807 141,826 Exeess of income over expenditure 17.981 Fund balance bi'ought forward Fuiid balance carried forward 268,208 The notes fomi part of these financial statem¢nts Page 12