REGISTERED CHARITY NUMBER: 298172
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
Grugeon Reynolds Limited Adams and Moore House Instone Road Dartford KENT DA1 2AG
THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 15 |
| Detailed Statement of Financial Activities | 16 |
THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of 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).
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Institute of Psychosexual Medicine is a learned body for the promotion of psychosexual medicine through seminar training.
It aims to:
a) Advance the study of sexual medicine with particular reference to the effect of psychological problems on health and well-being.
b) Encourage the study and research of psychosexual medicine, particularly with regard to the practitioner-patient relationship.
c) Promote high standards in psychosexual medicine through seminar training and examination.
Its membership consists of accredited members of the medical profession and allied health professionals as approved by council within the remit of the constitution.
The main objectives for the year and strategies for achieving them are as follows:
TRAINING
Training in a brief focused psychodynamic therapy carried out by health professionals for sexual and related difficulties. The aim of training is to increase the skills of doctors and allied health professionals who encounter patients with psychosexual and related problems in their everyday clinical practice.
INTRODUCTORY TERMS
These are provided as an introduction to seminar training, and are also used as a stand alone introduction to the field of psychosexual medicine. They consist of semi formal teaching in addition to case discussion as outlined in The Seminar. Each term is 12 hours although shorter courses can be offered on request. It is now a requirement for all regular Seminar Trainees to attend an Introductory Term prior to sitting the Diploma Exam.
THE SEMINAR
Trainees meet for 12 hours per term with an accredited leader. They are invited to present current clinical encounters for discussion within the group. They may present themselves for the Diploma examination after 6 terms of training.
FURTHER TRAINING
Health professionals who seek to make this field a special interest, and have passed the Diploma examination, may wish to continue for further training. After a period of at least 2 years further training, they may offer their work for examination for the Membership of the Institute, which qualifies them as competent to receive referrals from other practitioners and agencies.
SEMINAR LEADERS
Seminar leaders must hold Membership of the Institute of Psychosexual Medicine and have an interest in the techniques and dynamics of seminar work. Leaders' workshops are arranged twice each term, where seminar leaders present their groups to other leaders for discussion.
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
THE DIPLOMA AND MEMBERSHIP EXAMINATIONS
These are conducted annually by a Board of Examiners selected from among accredited leaders and from which Board a Chairman is elected to serve for a maximum of three years.
MEETINGS AND RESEARCH
A residential scientific meeting is held annually in differing venues across the United Kingdom.There is also a one day clinical meeting which was held online in 2023 and expected to continue as online in the near future.
THE JOURNAL OF THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
The Journal is published twice a year and is available online.
The Trustees confirm that they have referred to the guidance contained in the Charity' Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
In pursuance of these objectives, during the year under review the charity held an average of 17 Regular Seminar Groups attended by an average of 92 trainees and responded to a number of training registrations and general enquiries from trainees, Members and Diplomats. Additionally, the charity held 15 Introductory Groups attended by 142 trainees.
FINANCIAL REVIEW
Principal funding sources
The principal funding sources are members' subscriptions and income in furtherance of the charity's object of training. The majority of expenditure is in furtherance of the charity's objects, including organising training, seminars and workshops, as well as providing support to members.
Investment policy and objectives
Money is held in deposit and current bank accounts; the Institute does not hold separate investments.
Surplus funds are held in an instant access deposit account as that is most appropriate to the charity's needs.
Reserves policy
The reserve policy is to hold three months average expenditure plus the costs of winding up the Institute. At the year end the council members consider that the reserve level covers these two requirements.
The Institute relies on the continued support of the medical profession and whilst this continues it does not foresee any risk or uncertainty regarding its future.
During the year the Institute received income from all sources of £166,550. Total expenditure was £168,664 leading to an overall decrease in reserves from £96,783 at 31 December 2022 to £94,669 at 31 December 2023.
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
FUTURE PLANS
Face to face training is key to the IPM training ethos and the introduction of a minimum number of face to face training hours required prior to sitting IPM Examinations will assist in increasing face to face training levels. The online platform will continue to play a key role in IPM training with many seminar groups offering the combination of online and face to face training. This combination will also allow the IPM to set up new groups in more remote areas such as SW England. The IPM will prepare an Introductory Course curriculum for Introductory Courses and continue to develop bespoke, cancer care and International courses. 2024 will see a review of the examination process to bring it up to date with current postgraduate medical exam marking systems. The Diploma Examination is now offered virtually and face to face . This will assist trainees with travel or individual/personal limitations. The IPM’s Equality and Diversity Policy will be observed closely to ensure training opportunities are available to as wide an audience as possible. The IPM will celebrate its 50th anniversary with a prestigious Annual Scientific Meeting and Gala Dinner in London. Social Media continues to play a key role in increasing the IPM’s visibility in the virtual world. The IPM is looking forward to continue to expand and build on the successes it has had in previous years.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity was established by Trust Deed, dated 27 October 1975 and amended 30 March 1984. Changes to the Constitution took place in March 1987 making the organisation into an unincorporated association. The Constitution was updated in April 2001, March 2002, 2017 and September 2020. The registered number is 298172.
The members of council who have served during the year and since the year-end are set out below.
The principal office address is also shown below.
Council members are elected for a three-year term of office, renewable for a further three years, after which a period of one year must elapse before members may stand for re-election. Council meets at least 3 times a year and when complete consists of not less than 12 or more than 16 members; all decisions are made at these meetings. Members of Council are elected at the Annual General Meeting which takes place annually. Trustees are elected or appointed from among Council Members except for the Editor, Training Committee, Chair of the Examining Board, Programme Secretary and Media and Comms Officer which are ex-officio posts and can be appointed from the Membership onto Council for that specific IPM post.
Only Diplomats and Members of the Institute are eligible to serve as members of the Council with a maximum of 3 Diplomats serving at one time. In addition up to 4 further Members or Diplomats may be co-opted by Council and may serve for 2 years.
New appointees shadow the officer they are replacing for a period depending on the complexity of the office.
Miss Katie Knight and Mrs Amanda Sinnott are responsible for the day to day running of the Institute and Ms Emma Lewis is responsible for bookkeeping. The Treasurer and Council are responsible for the financial management of the Institute.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
298172
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
Principal address Building 3 Chiswick Park 566 Chiswick High Road Chiswick LONDON W4 5YA
Trustees
IPM Chair: Dr. Caroline Hunter MIPM (appointed 2024) - resigns 2027 Training Committee: Dr. Philipa Brough (representative on Council) Dr Lucy Love (non Council member) Dr Julia Pugh MIPM (elected March 2023) - resigns 2026
Chair of the Examining Board: Dr. Andrew Stainer-Smith (appointed 2022) - resigns 2024
Recertification Officer: Dr. Abir Youssef MIPM (appointed 2023) - resigns 2026
Programme Secretary: Dr. Cath White MIPM (appointed 2021) - resigns 2024
Honorary Secretary: Dr. Rebecca Hobbs (re-elected 2021) - resigns 2024 Honorary Treasurer: Dr. Mary Brown MIPM (appointed 2023) - resigns 2026
Editors: Dr. Andrew Stainer-Smith MIPM (appointed 2021) - resigns 2024 Dr Rivinda Vitharana (appointed 2023) - resigns 2026
Communications & Media Officer: Dr. Laura Jarvis MIPM (appointed 2021) - resigns 2024 Council Members: Dr. Claire Bailey MIPM (elected 2023) Dr Penny Goold MIPM (elected 2023) Dr Kate Howells MIPM (elected 2022) Julia Pugh MIPM (elected 2021) Carolyn Lindsay MIPM (elected 2021) (AHP Representative) Dr. Gillian Vanhegan MIPM (elected 2022)
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Grugeon Reynolds Limited Adams and Moore House Instone Road Dartford KENT DA1 2AG
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
MEMBERS OF COUNCIL RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
Law applicable to charities in England and Wales requires the Members of Council to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the council members are required to:
" select suitable accounting policies and then apply them consistently;
" make judgements and estimates that are reasonable and prudent;
" prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Members of Council are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 28 May 2024 and signed on its behalf by:
Dr C Hunter - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
Independent examiner's report to the trustees of The Institute of Psychosexual Medicine
I report to the charity trustees on my examination of the accounts of The Institute of Psychosexual Medicine (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts 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 accounts to be reached.
Hakeem Adeleye The Association of Chartered Certified Accountants
Grugeon Reynolds Limited Adams and Moore House Instone Road Dartford KENT DA1 2AG
12 June 2024
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities Training, seminars and workshops Examinations Other trading activities 3 Investment income 4 Total EXPENDITURE ON Charitable activities Training, seminars and workshops Examinations Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 1,125 126,683 7,006 31,352 384 166,550 152,850 15,814 168,664 (2,114) 96,783 94,669 |
2022 Total funds £ 303 121,123 13,663 19,853 84 155,026 127,533 15,760 143,293 11,733 85,050 96,783 |
|---|---|---|
The notes form part of these financial statements
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
BALANCE SHEET 31 DECEMBER 2023
| Notes FIXED ASSETS Intangible assets 9 Tangible assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 34,251 847 35,098 51,651 45,982 97,633 (38,062) 59,571 94,669 94,669 94,669 94,669 |
2022 Total funds £ 39,960 1,130 41,090 14,456 65,480 79,936 (24,243) 55,693 96,783 96,783 96,783 96,783 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12 June 2024 and were signed on its behalf by:
C Hunter - Trustee
M Brown - Trustee
The notes form part of these financial statements
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Intangible fixed asset
Amortisation is provided on a Straight Line basis in order to write off the cost of the Website Development over its estimated useful life of 7 years.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
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|---|---|---|
|2023|2022|
|£|£|
|Donations|1,125|303|
|3.|OTHER TRADING ACTIVITIES|
|2023|2022|
|£|£|
|Subscriptions|31,352|19,853|
|4.|INVESTMENT INCOME|
|2023|2022|
|£|£|
|Deposit account interest|384|84|
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5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
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|---|---|---|
|2023|2022|
|£|£|
|Trustees' expenses|3,580|1,827|
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The number of trustees who were reimbursed for travel expenses in 2023 was 12 (9 in 2022). Included in the total were £1,099 Council Meeting expenses.
Total expenses donated to the charity by trustees in the year were Nil (Nil in 2022).
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| Administrative staff | 2 | 2 |
No employees received emoluments in excess of £60,000.
The average number of part-time staff is 2 which is equivalent to 1 member of full-time staff.
7. BAD DEBTS
Bad debts represent out-standing subscriptions and training fees from previous years, written off.
8. PENSION COSTS
Defined contribution pension costs £1,269 (2022 : £1,558).
9. INTANGIBLE FIXED ASSETS
| INTANGIBLE FIXED ASSETS | |
|---|---|
| COST | Website development £ |
| At 1 January 2023 and | |
| 31 December 2023 | 39,960 |
| AMORTISATION | |
| Charge for year | 5,709 |
| NET BOOK VALUE | |
| At 31 December 2023 | 34,251 |
| At 31 December 2022 | 39,960 |
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
10. TANGIBLE FIXED ASSETS
| COST At 1 January 2023 and 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Sales ledger Late sales invoices Gift Aid Tax Debtor Prepayments 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Other creditors |
Office equipment £ 3,265 2,135 283 2,418 847 1,130 2023 2022 £ £ 28,848 5,860 2,820 2,320 3,307 4,577 16,676 1,699 51,651 14,456 2023 2022 £ £ 32,389 18,233 359 577 5,314 5,433 38,062 24,243 |
|---|---|
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. MOVEMENT IN FUNDS
| Net movement At 1/1/23 in funds £ £ Unrestricted funds General fund 96,783 (2,114) TOTAL FUNDS 96,783 (2,114) Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 166,550 (168,664) TOTAL FUNDS 166,550 (168,664) Comparatives for movement in funds Net movement At 1/1/22 in funds £ £ Unrestricted funds General fund 85,050 11,733 TOTAL FUNDS 85,050 11,733 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 155,026 (143,293) TOTAL FUNDS 155,026 (143,293) |
At 31/12/23 £ 94,669 94,669 Movement in funds £ (2,114) (2,114) At 31/12/22 £ 96,783 96,783 Movement in funds £ 11,733 11,733 |
|---|---|
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
14. RELATED PARTY DISCLOSURES
During the year £27,322 (2022 : £33,108) was paid in respect of fees to 11 (2022 : 9) trustees of the charity for running workshops, seminars and panel examinations. The amounts payable to the individual trustees were as follows :
| Dr Gillian Vanhegan | £5,432 |
|---|---|
| Dr Philipa Brough | £5,745 |
| Dr Caroline Hunter | £4,340 |
| Dr Andrew Stainer-Smith | £1,375 |
| Dr K Howells | £1,790 |
| Dr S Radhakrishnan | £3,293 |
| Dr S Tattersall | £1,097 |
| Dr C White | £1,320 |
| Dr L Jarvis | £1,445 |
| Dr Claire Bailey | £1,320 |
| Dr Julia Pugh | £165 |
15. POST BALANCE SHEET EVENTS
There are no known existing material uncertainties which would effect the charity continuing as a going concern.
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THE INSTITUTE OF PSYCHOSEXUAL MEDICINE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Subscriptions Investment income Deposit account interest Charitable activities Training, seminars and workshops Examination fees Total incoming resources EXPENDITURE Charitable activities Salaries Pensions Training, seminars and workshop costs Journal and website Office expenses Bank charges Administrative staff expenses Examination costs Amortisation of website development Depreciation of office equipment Support costs Governance costs Trustees' expenses Accountancy Total resources expended Net (expenditure)/income |
2023 £ 1,125 31,352 384 126,683 7,006 133,689 166,550 42,301 1,269 59,150 8,689 25,270 2,738 1,155 14,043 5,709 283 160,607 3,580 4,477 8,057 168,664 (2,114) |
2022 £ 303 19,853 84 121,123 13,663 134,786 155,026 37,827 1,558 54,694 2,887 19,187 3,373 1,326 15,760 - 377 136,989 1,827 4,477 6,304 143,293 11,733 |
|---|---|---|
This page does not form part of the statutory financial statements
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