British Dental Association Trust Fund Report and Financial Statements Year Ended 30 September 2024 Company Number 849283 Charity Number 313407
British Dental Association Trust Fund Report and financial statements for the year ended 30 September 2024 Contents Page: DIlorS. report 10 Directors. and Trustees. responsibilities ststemenl 11 Independent audit<*s rep)rt 15 Statement of financial aclivities 16 Balance sheet 17 Statement of cash flows 18 Notes fonning part of Ihe financial statements
British Dental Association Trust Fund Directors. report for the year ended 30 September 2024 The directors present their report together with the financial statements lor the year ended 30 Seplember 2024 and confirm that they comply with current statutory requirements, and with the requirements of the charitable company's governing instrument. Reference and admlnlslrallve detslls Charfty number The charity numbef 313407 Company numb•r The company number 849283 Directors The directors of the company (and trustees of the charity) during the year we. Mlchael Armstrong Paul Blaylock {resigned 31 December 2024) Edward Crouch (Deputy Chair) Peter Crwks Laura Cross Timothy Harker Iresigned 1 January 2024) Alison Lockyer Jason Stokes Richard Shilling Martin Woodrow Senior management tearn The Trust does not have a senior management team. Its strategic direction is managed by the Trustees and Directors. and operational activities are delegated lo the mana9ernent structures of the British Dental Association. Th8 Library and Museum operate within these structures. Restricted funds are managed directty by the Trustees with the exception of extemal grants award&J by the Shirley Glasstone Hughes Memorial restricted fund. External grants are monitored by a management committee. The Committee, chaired by Professor Elizabeth Kay, have been selected due to thelr fare of skills and the b6nefits these bring. The Commrttee provides guidance through: Selecting recipients for awards following the guklance of the revlew panel. Considering requests by grant holders to amend their project prolocols. Reviewing progress reports submitted by award holders.
British Dental Association Trust Fund Directors. report for the year ended 30 September 2024 (continued) Prlnclpal offlce 64 Wimpole Street, LorKlon. W1 G 8YS Banklng servlces National Westminster Bank plc. 1 Cavendish Square. London. W1A 4NU and Uoyds TSB Bank plc. 14 Berkeley Square. London. W1J 6AF Investment managers Barclays Wealth, 1 Colmore Square. Bimingham. West Midlands. 84 6ES Audltors BDO LLP. 55 Baker Street. Marylebone. London. W1 U 7EU Structure, governance and management Constitution The company. which is limited by guaranlee (company number 849283> and therefore govemed by its Memorandum and Articles of Associab'on, is also a registered charity (chanty number 313407). Recrultmenc appolnlment and tralnlng ol trustees The directors are also the charity trustees of the Trust Fund. as listed on page 1. Under the Artlcles of Associatlon adopted on 5 May 2000 the 11 directorsnrustees wlll be the follong. being the elected non-executive directots of the British Dental Associati (-BDA-). being the non4xecutrve who holds the position of Chair of the Prlncipal EXecute Committee of the BDA; and being the Chief Executive and Finance Director of the BDA Facilities are made available to any new trustees who to receive training and guidance in relation to their role as truslees of the charity. The trustees identify and assess training needs on an ongoing basis, bolh individually and collectively, through perfomian¢e review. R•mun•ratlon pollcy The Trusl's pay slructure is based around a graded incremental scale. This applies to all Trust employees. The pay range is made up of five spine points within each of the grades, and slaff progress by a spine point (or increment) each year until they reach the lop of the scale for the grade. New joiners normally start at the bottom of the scale unless market rate or expertise in the role juslify a higher starting point. The incremental adjustments to pay are made in April each year, and in addTtion to this there may be a cost-of- living adjustsment to the whole pay spine. The Trust pay scales malch those of the BDA and are adjusled in with negotiatnS between the BDA and the GM8. the recognised trade union within the Association, on the cost-of- living adjustment.
British Dental Association Trust Fund Directors. report for the year ended 30 September 2024 (continued) Remuneratlon pollcy (conlinued) Grades for jobs are detemiined by job evaluation. The Trust's job evalualion scheme is based on descriptors for each of the grades in the structure. A sianding job evaluation panel consisting ol management. personnel and staff representatives grade a job in accordance wrth the descriplors. If Ihere is doubt about the grading for the job against the descriplors. the panel undertakes a full analysis of the job in accordance wilh the job evalualion factors. These grades are subject io periodic review against the markei. Job evaluation takes place when a job description has changed io such an extent thai there may be 8 case for re grading. or when a job descriplj'on is produced for a new job. Organlsatlonal structure The Twst Fund is a subsidiary of the British Dental Association. Its trustees take responsibility for the wider strategic direction of the Trust but most of its activities are delegated lo operational and strategic systems of the Association. The primary operational respsibIlrtieS delegated to the AssociatTron are: Operational planning and execution Budgeting Management accounts and forecasting Risk managemenl R•strlct•d funds L S F8rr8r Dental SclK)larship Fund.. The fund aims to assist with fees and living expenses for dental technicians who are studying at dental school to become qualified dentists. Awards are made on a ihre&year cyde. No awards were made during the year. Howard Mummery Memorial Prize.. The object of the fund is to recognise an irmlividual who has. during the preceding five years. successfully applied clinical dentistry contemporary developments in Ihe basic sciences that have relevarKe to the fld of children. No prizes were awarded during the year. Dentist's Providenf Society Student Elective Student members of the BDA may enter the BDWDentisfs Provident Society Student Elective Awards Competition. To enter. the students may submit a protocol of up to a thousand words. describing the intent of the Elective, with an evaluation of the beneffts. both for the student and the place of study. No prizes were wwarded during the year. Scientific Research Fund The Fund's primary objective is to help finance research projects. Apart from bank interest earned there were no other movernents. Dentsply Scholarship Fund This is a hardship fund for urKlergraduates in their 4th arKI 5th year of study or postgraduate dental students at a UK University.
British Dental Association Trust Fund Directors. report for the year ended 30 September 2024 (continued) Re8trlcted funds (continued) John McLean Archive pect Grant The BDA Museum is working with the Unit for the Hisiory of Dentisty of King's Collega London Dental Institute to creale the John McLean Archive: a living history of dents"stry. Shirley Glasstone Hughes Trusi Fund This fund was incorporated into the British Dentsl Association's Trust Fund as a restried fund during 2011-12. The original purpose of the Shirley Glasstone Hughes Fund (SGH Fund) is mainlained providing prizes or scholarships for exlemal dental research and is managed on a day-ltrday basis by a management committee. chaired by Professor Elizabeth Kay. Since 2013114. the Tnjst Fund has opted lo fund dental research via the BDA'S researd) team. This is reviewed and managed by the trustees. During 2023123 financial year. BDA research positions were integrated into the BDA Trust Fund. This decision was mob'vated by the ¢[JnrtI0n Ihat the team's achievements demonstrated a seamless alignment WTth the Trusys objectives. While this adjustrnent does not impact overall expenditure, it has resulted in the reclassthcation of costs wrthin restricted funds, increasing salaries and the removal of grants awarded. Campaign and CommunicatK)ns Fund The primary objective of this fund would be 'to fund campaigning and communication activities aimed al promoting Ihe profession of dentistry and the oral health of the UK,. Risk management The Trustees fulty recognise their resFM)nsibilty to manage the risks facing the Tst Fund. The directors of the BDA have implemented a risk management system. which includes the maintenance of a risk register. The risks pertaining to the Trust Fund were considered as part of this pr(esS and will be reviewed in future as part of thè wider risk strategy. The direclors COnSKler the major risks facing the charity are: The Trust continues to meet the wblic benefft tesL The Trust retains its strong reputation and relevance to dentists. the dental irKlusty and Ihe general public. The Trust mainlains Its strong relationship with the British Dental ASClatiOn. The Trust Manages the risks arn reputation and public benefit Ihrough ckjse monrtoring an(1 development of its services in order to ensure they meet both the Trust's obj'ects and the wider interests of dentistry and the public. The Trustees review the policies and operational plans of the Library arKI Museum annually and liaise with Ihe BDA in order io secure funding for new developments where appropriate. The Trust's relationship with BDA is critical to ensuring its financial security. The BDA is the Trust's most significant donor and its continuing support integral to the rust's strategic planning. The board of charity trustees includes members of the BDA PEC and SMT. This allows joint planning and dose coordination of financial direction. The Trust plans to review the range of acts'vities it undertakes and ils latIonShIp with the Association over the next financial year in order to ensure its continued support.
British Dental Association Trust Fund Directors. report for the year ended 30 September 2024 (continued) Fundralslng statement Section 162a of Ihe Companies Act 2011 requires charrties to make a ststemenl regarding fundraising activities, Although the Trust does not undertake widespread fundraising from the general public. the legislation defines fundraising as "soliciting or otherwise procuring money or other property for charitable purposes." Such amounts receivable are presented in the accounts as "donations" and indude rts annual donation from the British Dental Association and wider public donaiions. In latIon io the above. all solicitstions are managed intemally by Irustees. siaff andlor volunteers, witho(rt involvement of commerci81 participalors or professional lundraisers. or third parties. The daY-l(daY management of all income generation is delegated lo the Assoaation's senior managemenl team. who a accountable to the trustees. The Trust is not bound by any undertaking to be bound by any regulatory scheme. However. the charity is a member of The Fundraising Regulalor and complies with the relevant codes of practice. The Trust has not received any complaints during the year. The Trusvs tenns of employment require staff to behave reasonably at all times. Objectives and activities Charitable COMpanS aims and objectives for public benefft The Trust Fund was established in 1965 with the help of the members of the Bnlish Denlal Association and a very generous donal1 from Lilian Lindsay. The objects of the charity are: a) To promote. encourage and advance the study and PfaCt1 of dentistry and allied sciences. b) To advance education in conneclion wrth dentistry and allied sciences. ¢1 To promote dental health and to further dental health education. d) To attain the above-menb'oned objects by any of the following among other means: The execution and discharge or the assistsnce in the execution and discharge (so far as it shall be lawful) of any educational or other charitable function of the Brttish Dental Association The provision andlor maintenance and improvement of a library and museum or Iltxarfes and museurns. The Trustees have considered the Charity C(xnmission's general guidance on public benefit and have tsken it into account when reviewing the Twsl Fund's aims and obje¢tiv6s and in planning its future activities. The Trustees are satisfied Ihat lh8 aims of the Trust Fund are carrTred out wholly in pursuit of its charitable aims. Since 2013114, the Trust Fund has opted io fund dental research via the British Dental Association's research team. The Trust has funded thre8 permanent research posts and specific fixed-tenn projects whlch are now complete. The team's research and evidenwathering activiti'es focus on the following goals". a. To undertake research on dentistry to understand the state of the dental profession. b. To undertake research to understand the v*%vs. perceplions and priorities of der•ts"sts. c. To undertake research to understand the practs'ce of dentistry. d. To ensure the right conditions are in place to enab research and evidenc&gathéring actNItiès. e. To advance leaming by cornmunicating the findings from BDA researth activities widely across the dentsl profession and to promote evidence-based decision-making al the BDA and beyond. The museum continues to be supported by rts team of volunteers. Working remotely, they have answered research enquiries. researched and published papers and given talks and carried out inteThiews. Limit8d access lo the building has restricled their work on the colleckn'on bul essential work has been carried out.
British Dental Association Trust Fund Directors. report for the year ended 30 September 2024 (continued) Achlevements and perfonnance Throughout the financial year, our team of three research analysts has continued to conduct numerous research projects aimed at enhancing our understsnding ol Ihe dentsl wofession and the challenges it faces. Survey of GDPS and Employod Dgntlsts We Conducled our annual surveys of GDPS and ernployed dentists. which a primarily used io prepare evidence for the DDRB. These surveys explore workforce trends. pay. job satisfaction. morale. rnotivalion, stress. and other factors. Initially Conducted ele¢troni¢ally. we follow up with postsi surveys for non-resp)nders. To further support the DDRB evidence. we conduct a small number of qualitative interviews with GDPS each year lo gain deeper insights into survey findings. These findings are also analysed and used for other earch outputs. Understandlng Denllsts. Motlvatlons for Worklng In the NHS In light of the increasing shift away from the NHS by dentists. we have undertaken research to understand what motivates Ihem lo slart and continue working within the NHS. This research updales previous studies. the last significant one dating back to 2000. and provides valuable insights for the BDA as it collaborates with the new Govemment to reform the contract. Other Research and Analysis We have conducted Search and analysis on various topics, including the careers of hospital dentists, Unit of Dental Activty values, the impact of National Insurance contribulions and minimum wage increases, longitudinal changes in the motivab'ons and experiences of Communty Dental Services dentssts. dental practice expenses and inflation, costs of redressing underfunding of NHS services and expanding access in England, clawback lated to NHS contract under-delivery, costs of deltvering Dental Foundation Training, new pay settlements for dental trainees, SAS dentists and consultsnt dentists, potential costs of a ban on amalgam as a dental restoralive material in Northem Ireland, and the costs of implementing community waterfluoridab'on in Scolland. Our longrtudinal project on the clinical experience of dentsl students and graduates concluded its fieldwork this summer, with analysis and write-up currenlly urKlerway. The BDA Museum successfully mounted two temporary exhibitions in the foyer of Wimpole Street These exhiblts'ons focused on Ihe development of curing lights and their impaci on restorative dentistry, as well as the phasing out of the student instrument box. The exhibth.ons were well-supported by many members who contributed by donating items and sharing their reminiscences. The research into student instrument boxes from dental schools and individuals has gamered signrficant interest and produced enough material for a series of publications. The volunteer leam has been diligent in docurnenling, photCx3raphing, and cataloguing donations throughout the year. They have also resF)onded to 200 family history enquiries and numer$ object enquiries. providing valuable assistance io the rnuseum's patrons. In July 2024, the museum relocated 300 large objects io a new offsrte storage provKler. Although these objects were previously stored offsite, the new If110Th offers enhanced environmental rnonitorirKJ and securrty for the collection. all at a reduced cost. The BDA Library service encompasses a variety of resources and support. including loans of books, pamphlets. packages of articles (wilh online hyperlinked tables of conlents), and DVDS. Additionally, the library prOVeS access to ebooks and ebook CPD, ejoumals, and literature searches. Members can utilise online OVID Medline, receive assislance with searching, and access support for historical research. The library also offers web videos through a peer-reviewed online catalogue, a dedicated space for in-person research, electronic document delivery, and archival and research support for BDA stsff and committees. The library served over 1.925 members. representing 13% of the currenl membership (a decrease of 2%). On average. 700 members utilised the library each month. Studenl usage of the library decreased by 10%. accounting for 26% of the current BDA student membership. E-books were accessed by 1.053 unique membefs over the year. a 22°A decrease. Of these. 78¥0 were rn- students. reflecting a 3% inuease in student usefs compared to non-students.
British Dental Association Trust Fund Directors, report for the year ended 30 Septsmber 2024 (continued) Achl•vement8 and performan (continued) Physical loans totalled 2.815 ilems, a decline from Ihe previous year. However, an average of 500 members had ilems on loan each month. 8 2% increase and the highest average since 2017-18. A lolal of 657 unique members borrowed books during the year, wilh 89 01 them borrowing fcx the first time (a 141 % in¢ase). 398 package conlents lisls were viewed. compared to 584 last year. 197 differenl package titles were inspected, dwn from 212 last year. Sustainable Dentistry and Occlusion rernained the top two viewed titles. with Remote and Tele dentistry being the third most viewed. 81 web videos were accessed through the online catalogue. a 16% increase. 1,383 literature searches were conducted for 110 members. representing a 310/0 increase in member usage. Members also ran an average of 3,241 monthly automated Medline alerts on OVID through the website, a 6 A increase. 466 arbcle requests We received, a 240/0 increase, seThing 339 reqUeStS (a 13% incase). A total of 1.450 articles were supplied, a 9°k increase. Ejoumals saw 4,833 fulktext artides accessed online, a 7°h decrease, mainly due to a drop in Sclence Direct usage. However. full-text requests on the Wiley plafform increased by 45Yo, and on DOSS (Dentistry and Oral Sciences Source) by 30°h. Searches on the DOSS database also increased by 30Y.. Financial revlew Overview In the financlal year ending 30 September 2024, th8 British Dental Ass(Kiation Trust Fund underwent changes In its financial landscape, most noiably due to the sale of investrnents to meet its liabilities. Total Income saw a signlficant increase, rising to £858,657 from £676,666 in 2023. This was largely driven by a generous donatlon from the British Dental Association and contributions from Local Dental Committees for campaigns and communlcation activities. However, the sale of the Trusfs fixed asset investments resulted in a slight decline In investment income, alihough it did yield realised gains reported this financlal year. Expenditure for the year rose to £1,021 ,873 from £1.010.315. mainly due to costs associated wilh advancing the charity's objectives. This increase was pnmarily driven by restricted activities. as the transilion of research wsts from the BDA lo the Trusl. which occurred midway through the previous financial year. 18d to the recognition of a full year's worth of costs for Ihese posls in the cuffent year. The BDA Trust FurKI maintained a strong cash position, with cash and cash equivalents totslling £1.011.490. Of this total. £209.023 was restricted cash. while £802.467 was unrestricted cash. This represents a decrease from the previous year's total of £1,376.184 reflecting the Trust's strategic decisions. The net current asset posib'on also showed significant improvernent. standing at £613.352 at the end of the financial year, compared to a net current liability tM)sition of £311.763 in the prior year. This positive shrfl is largely due to the TrLt'S decision to divest a significant portion of ils investments to meel its liabilities. Overall. the Trusfs totsl a&set position. including both fixed and current assets. arnounted to £718.834, down frorn £800,964 in the previous year. This includes £259.795 in restricted funds and £459.039 in unrestricted funds. Despite the decline. the Trust continues to manage its resources effecttvely, focusing on SUprting its rnembers and advancing its charitable objectives.
British Dental Association Trust Fund Directors. report for the year ended 30 September 2024 (continuedj Investment pollcy The investsnent portfolio is managed by Barclays Wealth a division of Barclays Bank PLC. The Trustees aim to achieve a balance of growth and income. Investmenl performance is reviewed annually by the Trustees and policy is adjusted when considered necessary. Ros•rv•s poll¢y The charitsble cOrnpans UnStrICted income fund Snifie$ the available reserves for fulfilling its primary objectives. The surplus in unrestricted reserves is deemed adequate by the Trustees. who anticipate continue<l support from the British Dentsl Associalion to cover future Sts. The Trust pursues Ihe followng objectives. Capital growth for the maintenance and development of the Twst estate. Funding the developmenl of services to enhance quality. The resenles policy of the Trust aims lo establish and maintain an appropriale, yel r1 excessive, level of reserves to support its activits"es. taking into account the associated risks. Unrestricted funds are held for the specific purpose of safeguarding against snth¢ant disrupb.ons due to a potents.al decrease in donats.ons from the British Denlal Associats"on. To ensure the Trusys operational resilience in the face of a potents'al decline in donations, the Trust strives to maintain unrestricted contingency reserves equivalent to approximately one yearfs expenditure, setting a target of £500,000. Despite the stable financial posrtion over the years viith ample reserves and the support of the British Dental Association, the Trustees acknowledge the risk associated with dependence on a single donor. The total reserves currently stand at £718,834 (2023: £8(h),9641. Exduding fixed and heritage assels {£80,542) and restricted funds (£259,795), the unrestricted reserves amount lo £378,497 (2023: £381,604). While this falls below the reserve position outlined in the Trusfs policy, there is confidence in the ongoing SUprt from the British Denial Association. Golng Coneem The Trustees of the BDA Trust Fund have fulfilled their responsibility in preparing the financial statements approprialely. Upon evaluating the budgets of their primary donor. the British Dental Associakn'on. Ihey remain confidenl in the sustained finanaal support. Rec(y3nising the substantial challenges faced by charities in securing income, the Truslees conducted comprehensive review of the Trust's financial standing. They are confident in mainlaining a going concem status. underlined by a robust financial position. With £802,467 in unrestricted cash and unreslricted reserves of £459,039, the Trust stsnds on solid ground. Although the reser¥es target has not yet been met, the Trust E assured of continuous support from the Association. The Trustees, expressing Conffiden in the Twsys financial resources. assert that the BDA Trust Fund has the necessary means to meet its obligations. Consequently. the financial ac(x)unts have been prepared on the basis of the Trust being a going concem.
British Dental Association Trust Fund Directors. report for the year ended 30 September 2024 (continued) Plans for the future The BDA Trust Fund. wh•ch indLKles both the Library and Museum. is currently located within the BDA'S building at 64 Wimpole Street. Since the pandemic. it has become evident Ihat the building is excessively large for the BDA'S current operations. As a result, the BDA is urmjergryng consultstions to determine the future needs of both the Trusl Fund and the Association. The BDA Library is looking for*vard io a variety of engaging future developments. One of the huhlights includes adding five more eBooks lo the CPD course. offeriThJ 10 hours of additional verifiable CPD. Additionally. the library will organise anolherjoint stand with the Museum for the 2025 Brilish Dental Conference & Dentistry Show. allowing members to borrow books during Ihe event. The library also plans to promoie its publications and services and to review BDA website library pages. The team will work with colleagues from the Health Libraries Group of CILIP to update the Core Collection of Dental B¢x)ks. which will be featured on the core collects'on website upon completion. The research team will continue lo undertake prqeds. including an examination of how dentists set recall intervals for patients. aimed at informing our approach to contract refom. Another initiative will focus on understanding the profession's needs and expectations for a refomed NHS contract. Additionally, the team plans to conduct a qualitative study to gain deeper insights into amed forces dentists, their motsvab'ons, and the challenges Ihey encounter. Furthennore. an anatysis project is being developed to share exisling research data on the UK dentsl market with members, in order to support their business and career decision-making. Audltors All of the current directors have tsken all the steps that they ought lo have tsken to make themselves aware of any infomiation needed by the chantable company's auditors for the purposes of Iheir audrt and to establish that the auditors a awa of that infcymab'on. The d1CtOrS are not &Hare of any relevant audit infomation of which the auditors are unaware. BDO LLP has expressed their willingness to continue in office and resolution to re-appoint them will be proposed at the annual general meeting. In preparing thls d1CtOrS. report, advantage has been taken of small ¢ompanles' exemptlon and the small charib'es exemptions permitted by Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing iheir accounting in accordance with the Financial Reporting Standard applTrcable in the UK and Republic (FRS 102) {effecb've 1 January 2019)- (Charities SORP IFRS102)) and was approved by the directors on Deputy Chairman Date: 261h February 2025
British Dental Association Trust Fund Directors. and Trustees. responsibilities statement for the year ended 30 September 2024 The Trustees (who are also the directors of the charity for the purFM)ses of company law) are responsible for preparing Ihe Trustees. Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve ihe financial ststements unless they are satisfied that they give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expendilure. of the charity Ihat period. In preparing these financial siatemenls. the Trustees are required to: select suitable accnI11}g poliaes and then apply them consistently: observe the methods and principles in the applicable Charities SORP: make judgements arKI accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Stsndards have been followed. subj'ect to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concem basis unless It is inappropriat8 to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounts.ng records that are sufficienl lo show and explain the charity's transactions and disdose with reasonable accuracy at any time Ihe financial position of the charity and enable them lo ensure thal the financial stslements comply with the Companies Act 2006. the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008. and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable sleps for the prevention and (letection of fraud and other irregularities. Financial statements are published the charity's website in accordance with legislation in the United Kingdom governing the preparation and disseminalion of financial statements, which may vary from legislation in othef jurisdictions. The maintenance and integrity of the chanty's website is the responsibility of the trustees. The trustees, responsibility also extends to the ongoing integrity of the financial stalements contained therein. 10
British Dental Association Trust Fund Independent auditorfs report INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BRMSH DENTAL ASSOCIATION TURST FUND Oplnlon on the flnanclal ststemenls In our opinion. financial ststements: give a true and fair view of the state of the Charitable CpanY'S affairs as of 30 September 2024 and of incoming resources and application of resources for the year Ihen ended: have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in acc(xdance with the requirements of the Companies Act 2006. We have audited the financial statements of the British Dental Associab'on Trust Fund (Ihe Charitable Company") for the year ended 30 September 2024 which comprise the statement of financial activities, the balance sheet, the stalement of cash flows and notes to the financial staternent5. including a surnrnary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slandards, including Financial Reporting StarKlard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Basis for opinion We conducted our audit in accordance with Intemats'onal Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those siandards are further described in the Auditor's responsibilities for the audit of the financial statements seclion of our report. We believe Ihat the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion. Independence We remain independent of the Charitsble Company in accordance with the ethical requirements relevant to our audit of the financial stalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Conclusions related to going concern In auditing the financial statements. we have conduded that the Trustees. use of ts going concem basis of accounling In the preparation of the financial ststements is appropriate. Based on the work we have performed, we have not identffied any malerial uncertainties relats'ng to events or conditions that. individually or collectively, may cast snIficant doubt on the Charitable COmpanS ability to continue as a going concem for a period of at leasi twdve months from when Ihe financial staternents are authorised for issue. Our resp)nsibilities and the responsits'lities of the Trustees wilh respect going c(mcem are described in the relevant sections of this re. 11
British Dental Association Trust Fund Independent auditorfs report (continued) Other Infomlatlon The Trustees are responsible for the other infonnation. The other Inftion comprises the inforniation included in the Report. other than the financial statements and our audrtor's report thereon. The other information comprises the Directors. report for the year ended 30 September 2024. Our opinion on the financial ststements does not cover the other information and. except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibilty is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements. or our knowledge obtained in the audit or otherwise appears to be materially rnisstated. If we idents'fy such material inconsistencies or apparent malerial missL3tements, we are required to deterrnine whether there is a material misstatement in the financial statements or a material rnisstatement of the other information. If. based on the work we have performed. we conclude that there is a material misstatement of this other inforrnation. we are required to report that fact. We have nothing to repxt in Ihis regard. Other Companies Act 2006 reporting In our opinion. based on the work undertaken in the c(xJrse of the audit: the information given in the Directors, Report. prepared for the purposes of Company Law. for the financial year for which the financial statements are prepared is consistent wilh the financial statements: and the Direclors. Report has been prepared in accordance wilh applicable legal requirements. In the lTrght of the knowledge and understanding of the Charitable Company and its environrnent obtsined in the course of the audit. we have not identified material rnisstatemenl in the Directors, report. We have nothing to reFx)rt in resFect of the following matters in relation to which the Companies Acl 2006 requires U5 to report to you rf. in our opinion: adequate accounting records have not been kept. or retums adequate for our audrt have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and turnS. or certain disclosures of Directors. remuneration specified by law are not made; or we have not received all the informats'on and explanations we require for our audil: or the Iruslees were nol entiued to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemplions in preparing the directors, rewi and from Ihe requirement to prepare a strategic report. Re$pon$lbllltl•s of Truste As explained more fully in the Directors, and Trustees, respmjnsibilrties statement. the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determines is necessary to enable the preparab'on of financial staternents that are free from material misstatemenl, whether due to fraud or error. In preparing the financial statements. the Trustees are responsible assessing the Charitable Company's ability to c(Jntinue as a goirKJ concem, disclosing. as applicable, matters related to going concern and using the going concem basis of accounting unless the Trustees either intend lo liquidate the Charitable Company or to cease operations. or have no realists'c altemative but to do so. 12
British Dental Association Trust Fund Independent auditorfs report (continued) Audltorfs respon8lbllftle8 for the audlt of the financlal statements We have been appointed as auditor under the Companies Act 2006 and report in accordance the Acl and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the finanrial statemenls as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a rnaterial misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Extent to which the audit was capable of detecting IegUla11t1es. including fraud Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design prlxedures in line with our responsibilities, outlined above. to detect material rnisstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting iffegularities. induding fraud 15 detailed below: Non-compliance with laws and regulations We obtained an understanding of the legal and regulatory frameworks through our accumulaled knowledge and conslderats.on of sector informatlon thal is applicable to the Charitable Company. We determined Ihat the most significant which are directly relevant to specific assertions in the financial statements are those relaled to the financial reporting framework induding but not limited to United Kingdom Generally Accepted Accounting Practice. the Charities Act 2011. the cpanIeS Act 2006. Data Protection Act 2018. Bribery Act 2010 and tax legislation. We understood how the Chantable Company is complyiThJ wrth those legal arKI regulatory frameworf(s by making enquiries to management and those responsible for legal and compliance procedures. We corroborated our enquiries through our review of minutes. Fraud As part of designing our audit. we assessed the susceptibility of the Charitable Company's financial statements to material misstalement. including how fraud might occur by discussing wilh management where rt is considered there was a susceplibility of fraud relating to management overrKle of controls and improper income recognilion. In addressing the risk of fraud. induding the management override of controls and improper income recognitiori, we tested the appropriateness of certain journals. reviewed the application of judgements associated with accounting estimates for the indKation of potential bias arKI tested the application of cut-off and revenue recognition. Our audit procedures were designed to respond to risks of material misststement in the financial ststements. recognising that the risk of not detecting a material misstatefflent due to fraud is hher than the risk of not detecting one resulting from error. as fraud may involve deliberate concealment by, for example. forgery, misrepresentations or thn)ugh collusion. There are inherent limrtations in the audit procedures performed and the further removed non- compliance wllth laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. A further description of our [8sFsibIlitieS for the audil of the financial statements is Iated at the Financial Reporting Council's {"FRC's-) website at: htt s:Il¥wM.frc.o .uklauditorsres onsibilities. This description forms part of our audrtor's report. 13
British Dental Association Trust Fund Independent auditorfs report (continued) Use of our report This report is made solety to the Charitable Company's members. as a body. in accordance with Chapler 3 of Part 16 of the Companies Act 2006. Our audit wc¥k has been undertaken so that we might slate to the Charitable Company's members those matters we are required lo state lo them in an audrtor's report and for no other purpose. To the fullest extenl permitted by law. we do not accept or assume responsibility to anyone other Ihan the Charilable Company and the Charitable Cornpany's members as a body. for our audit work. for this report. or for the opinions we have fonne(l. LS TICS2)jU¢s1 Gareth M Jones (SenM)r Slatutcry Auditor) For and on behalf of BDO LLP. statutory auditor London. UK Date: 30 April 2025 BDO LLP is a limited liabilty partnership regislered in England and Wales (with registered number OC305127). 14
British Dental Association Trust Fund Statement of financial activities (including an income and expenditure account) for the year ended 30 September 2024 Note Restrlcted funds 2024 Unrestrlcted funds 2024 Total 2024 Total 2023 Income Donations.. Donation from British Dentsl Association Other donations 815.000 305 815,000 14,542 640,000 1,292 14.237 Chantable activities.. Library income Museum incorne 582 582 350 115 Investment income (Gross) 28.527 28,527 34,909 Total income 42.764 815.893 858,657 676,666 Expendltur• Raising funds.. Investment management costs Chantable actNities.' Grants and awards payable Costs in furtherance of the charity's objects 28,378 201.841 820.032 1.021,873 981,937 Total expenditure 201.841 820.032 1.021,873 1,010,315 N•t •xp•ndlturo 101• galnslloss•s (138.748) (194.9011 1333,649) (74,117) Net gains (y) fixed asset investments 81.086 81,086 79,662 Net mov•m•nts In funds for the year (77.991) (4.139) (82,130) (253,987) R•eonelllatlon of mov•m•nt In funds Total funds txought forward 337.786 463,178 800.964 1,054.951 Total funds carried foThvard 259,795 459.039 718.834 800,964 All amounts relate to continuing activities. All recognised gains arKI losses in the currenl and prior year are included in the statement of financial activities. The notes pages 18 to 27 form part of these financial statements. 15
British Dental Association Trust Fund Balance sheet at 30 September 2024 Company number 849283 Note Restrlcted funds 2024 Unrestrlcted funds 2024 Total 2024 Total 2023 Flxed assets Tangible fixed assets Heritage assets Investments 20,542 60,000 20,542 60,000 24,940 21,574 60.000 1,031,153 24,940 Total fixod assels 24,940 80.542 105,482 1,112.727 Current assets Debtors Cash and cash equivalenls 120,684 209,023 28,484 802,467 149,168 1,011,490 141.876 1,376,184 Total current assets 329.707 830,951 1,160.658 1,518,060 Creditors: amounts falling due wvthin one year Other credilors (94,852) (452,454) (547,306) (1,829,823) Net current a88ets l (Ilabllltle8) 234,855 378,497 613,352 (311.763) Totsl assets less current Ilabilltles 11 259,795 459,039 718,834 800,964 Represented by: Income funds 11 259,795 459,039 718,834 800,964 The financial slatements have been prepared in accordance wth the provisions applicable to companies subject to the small companies, regime. These accounts were approved by the board on 26th February 2025 Deputy Chairnian The notes on pages 18 to 27 fom part of these financlal statements. 16
British Dental Association Trust Fund Statement of cash flows 30 September 2024 Note 2024 2023 Cash flows from operatlng actlvltle8 Net expenditure Adjustments for. Depreciation of fixed asseis Net interesl receivable Income from fixed asset investments (Increaseydecrease in debtors (Decreaseyincrease in creditors (Gain) on sale of inveslments (Gain) on investrnents (82,130) (253.987) 9,321 (3,143) (25,384) (7,292) 11.282.517) (25,7081 (55,378) 9,798 (1.867) (33.042) (2.170) 584.596 (79.662) Net cash (used In)/ g•n•rated from op•ratlng actlvltles (1,472,231) 223,666 Cash flows from investing activities PrrKeeds from sale of fixed asset inveslments Purchases of fixed asset investments Purchases of tangible fixed assets Interest received Dividends received on red asset investrnents 1.087,299 (8,289) 3,143 25.384 (14,904) 1,867 33,042 Net cash generated from investing activities 1.107.537 20,005 Net {decrease)lincrease in cash and cash equivalents Cash and cash equivalents at beginning of year (364,694) 1.376,184 243,671 1,132,513 Cash and cash equlvalents at end of year 1.011,490 1.376,184 Cash and cash equivalents comprise: Cash at bank and in hand 1.011,490 1.376,184 Other Non-cash 30 Septombof ¢hanges 2024 1 odobor 2023 Cash Flows Net funds ro¢on¢lllatlon Cash and cash equivalents Bank and other loans 1.376.184 (364.694) 1,011.490 At 30 September 2024 1.376.184 (364.694) 1,011,490 The notes on pages 18 to 27 fom part of Ihese financial statements. 17
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 Accountlng pollclos The British Dental Association Trust Fund is an incorporated charity registered in England & Wales wilh the Charily Commission. The address of the registered office is given on the conlents page and the nature of its operations is set out in the Directorfs report. The financial statemenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounting in accordance wilh the Financial Reporting Stsndard applicable in the UK and Republic (FRS 102) leffects've 1 January 2019> - (Charities SORP (FRS 102)). the Financial Reporting Stsndard applicabk in the Uniied Kingdom and the Republic of Ireland and the Companies Acl 2006. The preparation of financial statements in compliance with FRS 102 ffjquis the use of certain crib'cal accounting estimates. It also requires management to exercise judgement in applying Ihe Fund's accounting policies. These financial statements have been FKepared in aCcdartt the provisions applicable lo companies subjed to the small companES' regime. Going Concem The Truslees of the BDA Trust Fund have fulfilled Iheir responsibilty in preparing the financial statements appropriately. Upon evaluating the budgets of their primary donor, the British Dental Association, they remain confident in Ihe sustained financial support. Recognising the substantial challenges faced by charTties in securing income, the Trustees conducted a comprehensive review of the Trust's financial standing. They are confident in maintaining a going concem status. underlined by a robust financial position. With £802,467 in unrestricted cash and unrestricted reserves of £459,039. the Trust stands solid ground. Although the reserves target has not yet been met, the Trust is assured of continuous support from the Association. The Trustees, expressing confidence in the Trust's financial resources, assert that the BDA Trust Fund has the necessary means to meet its obligations. Consequently, the financial accounts have been prepared on the basis of the Trust being a going concem. Income Investrnenl income, which is shown with its related tax credit when applicable, is accounted for in the period in which the charitable company is entit16d to receipt. any inwne not yet received is accrued. Realised gains and losses on the sale of investments and unrealised gains and losses on the revaluaiion of investments are included in the statement of financial activities. Likewise. donat$ and Library and Museurn income are accounted for when receivable. Grants are recognised in full in the statement of financial actiwties in the year in which they are receivable. unless they are for a future period. in which case they are deferred. Expenditu The BDA Trust Fund is not registered for VAT Iherefore. all expenditure is accounted for on an accruals basis and is inclusive of VAT. 18
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) Accountlng pollclos (o>ntinued) Fixed assets 8nd depreciation Depreciation Tangible fixed assets are caTrd at cosi and are used in direct furtherance of the charitsble company's objects. The heritage asset is assumed to have an indefinite useful life and a high residual value resulting in any depreciation charge being immaterial. For all other assets. depreciation is calculated to write down the cost. less estimated 811$able value. of all tangible fixed assels by equal annual instalments over their expecled useful lives. The periods generally applicable are.. Fumiture. computer equipment and books 5 years Fixed asset investments Fixed asset inveslrnenls are shown at market value (based on mid-market values) at the balance sheet date. Pensions The Fund makes pension contributions, on behall of its employees, to the British Dental Association's defined contribub'on pension scheme. Detsils of the Scheme can be found in the Association's accounts for Ihe year to 30 September 2024. Fixed assets - Heritage assets The Trust FurKI maintains a collection of museum exhibits purchased or donated to the charity many years ago. In accordance wth the charibes SORP 2020 {FRS 102), the Trust Fund's collection of museum exhibits, and other rnaJ items are recorded on the balance sheet at cost. The Trustees conslder that obtaining valuations for ihe historical elements of the museum exhlbits would involve disproportj'onate cost due to the diverse nature of the assets held arKI the lack of comparable market values. Acqulsltions are normally made by donation with occasional purchases. Donations a recorded at a current market valuats'on with reference, where possible, lo commercial markets using recent transaction information from auctions. Recent purchases are recorded at cost. Exp8ndrture which in the Trustees. view is required io preserve ty prevent further deterioratTron of individual items, including preservats'on work, is rewnised in Ihe Income and Expendilure Account when il is incUrd. Grants and awards Granls payable are charged in the year in which all condrtions attached to payment of the grant are fulfilled. Grants offered subject to condit)nS which have not been Met at the yearend are noted as a commitment, but not accrued as expenditure. Financial instruments The Fund only has financial assets and financial liabilities of a kirLI that qualify as basic financial instruments. Basic financial instruments are inrtially recognised al transaction value and subsequently measured at their settlement value. Judgements in applying accounting policies and key sources of estimation uncertainty In preparing these financial statements. the directors have made the following judgemenls: Determine whether corKlilions induded in granl comfflitrnents have been met. 19
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) Investment Incom• Restrlcted funds 2024 Unreslrlcted Funds 2024 Total 2024 Total 2023 Arising in Ihe UK: Gross income receive(J from UK quoted investments Gross interesi received 25.384 3,143 25,384 3,143 33.042 1.867 28.527 28,527 34,909 Of the tolal investment income in 2023. £nil related to unrestricted funds and £34.909 relaled to restricted fvnds. Charitable expenditure Restricted funds 2024 Unrestricted funds 2024 Total 2024 Total 2023 Grants payable: Grants payable to institulions 28,378 Chantsble expenditure: Salaries Pension costs Stsff health scheme Library services. copier, phone, post Peri(MYicals Computer costs Museum expenses Establishment and accommdation Depreciation Storage and transportat Sundries Bank charges Campaigns and CThnmunicats'on Activity 171,085 15,852 269.367 49,312 1,314 2,500 82,816 13,486 6,833 2,809 9,321 45,442 12,465 (80) 440,452 65,164 2,098 2,500 82,816 13,486 6,833 2,809 9,321 45,442 12,465 397,595 57,826 1,655 3,130 76,900 16,144 9,669 2,974 9,799 30,835 20,444 226 120 14,OCN) 14,000 201.841 495,585 697,426 627,197 Management and adminislration 324,447 324.447 354,740 201,841 820.032 1,021.873 981.937
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) Charltable expendlture (continued) Of the grants payable in 2023. £nil relaled to unrestricted funds and £28,378 related to restricled funds. Of the toial charitsble experKlilure in 2023. £835.766 related to unreslricted funds and £174.549 related to restricted funds. The average rnonihty number of persons employed by Ihe d)aritable company during the year was 8 (2023 8). One employee earned over £60.000 in the £60.000-£70.000 bracket (2023.. one in Ihe £60.000-£70,000 brackel). Retirement benefits wilhin Ihe British Dental AssLKiation defined cOntriblon pensK)n scheme are accruing to 8 staff {2023 - 8). No directorltrustee received any remuneration or reimbursement of expenses. Trustee indemnity insurance was not paid on behalf of the trustees. The Trust does not have a senior management team. Its strategic directTon is managed by the trustees and directors and operational acts'veS are delegated to the management structures of the Bntish Dental Associab'on. Management and administration Restricted funds 2024 Unrestricted funds 2024 Total 2024 Total 2023 Audit fees BDA expenses recharge 5,974 318,473 5,974 318,473 5,690 349,050 324,447 324,447 354,740 Of the total management and administrab'on payable in 2023, £354,740 related to unrestricted funds and £nil related to restricte<l funds. 21
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) Tanglble flxed assets Fumlture and equlpment Total 2024 B¢)oks At 1 O¢lober 2023 Additions 161.141 303.072 8.289 464.213 8.289 At 30 September 2024 161.141 311,361 472,502 Depreciats'on At 1 October 2023 Charge for the year 161.141 281.498 9.321 442.639 9.321 At 30 September 2024 161.141 290,819 442.640 Net book value At 30 September 2024 20.542 20,542 At 30 September 2023 21,574 21.574 H•rftag• a8S•t$ 2024 2023 Consolldat•d At 1 October 60,000 60,0(K) At 30 September 60,000 60,0(Y) Historic cost of heritage assets 60,000 60,0(Y) In accordan with Financial Reporting Standard 102 - Heritage Assets, Ihe Trust Fund's collection of museum exhibits and other major rtems are recorded on the balance sheet at cost. This relales to a specrfic asset which was acquired by the BDA Trust Fund wtth the support of fundraising efforts. The asset is consKlered to have an indefinite life and therefore it is not depreciated but is reviewed for impaiment at each balance sheet date. In addition to the heritage asset recognised at cost, the charity also, has a nurnber of other items Ivhich are not recorded on the balance sheet as their fair value cannot be reliably esb'mated. The majorty of these items were purchased or dated to the chanty many years ago and as a result in the vbew of the directors the historic cost of these assets is immaterial to the group. The exhibtts We valued for insurance purposes at £1,212,070 by Michael Mays Art & Antiques Survey. 7 Main Street. 'bworth Harcourt. Lebcestershire, LE8 ONR in September 2018.
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) Flxed asset Investments 2024 2023 Quoied investments At 1 October Sale of invesiments Net gains on inveslments 1,031.153 (1.087.299) 81,086 951,491 79,662 As at 30 September 24,940 1.031,153 Historic cost of investrnents 30,180 728,163 Th6 total market value at 30 Septernb8r l1pn5es. 2024 2023 Investments quoted on reccyJnised st(k exchange 24,939 1,031,153 D•btors R•strlct•d funds 2024 Unrnslrlct•d funds 2024 Total 2024 Total 2023 Due from unrestricted fund Other debtors Prepayments and accrued income 114.418 6,266 114,418 6,566 28,184 114.180 6,949 20,747 300 28,184 120,684 28,484 149,168 141,876 Creditors - amounts falling due within one year Restrlcted funds 2024 Unrestrlcted funds 2024 Total 2024 Total 2023 Due to restricted funds Accruals Due to British Dental Association 114,418 7,649 330.387 114,418 7,649 425.239 114,180 94,852 1,715,643 94.852 452.454 547.306 1,829,823 23
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) 10 Flnanclal Inslruments The British Dentsl Association Trust Fund only has financial assets and financial liabilities of a kind that qualify as basic financial instwments. Basic financial instruments are inrtially recognised ai transaction value and subsequenlly measured al Iheir settjement value. 11 Analy$l$ of restrlcted fund not assets 2024 BDA inter Due fr(Knlltol Tol•l lunds Inv•slm•nll cr•dltor lunds Scientific Regear Fund t)entlsls' PrrNldwl Scoeiy CJentsF4y ScthrJh Fund L S Farrar Oental Hch¥ard Mummgry Memorial 64,760 64,710 14.660 14,660 18.714 {10.134 7,2491 32,501 1,331 32.501 6.292 8,240 Prqect GOIer acquwi dLThtw)ns Shidey Glasslor Hughes MemLThI Fund 5.745 5,745 2,053 184,017 {84.718 130,505 209,023 194,852) 114.418 259,795 2023 BOA Intsr Du• fromlltol Conwy unrtSlrl¢i•d r•dllor fund• Tot•1 fund• Senbfic Resear Fund 64,7eii 64,760 Scoety Dentsp4y ScdaryJh Fund L S Farrw t)•ntal H(Miard Mummary Memorial 14.6f4) 14,660 18,714 {10.133 17.2501 32.501 1,331 32,501 8,281 Pr(4ect Gelt4'8r acqi¥8itKx) dcbath?S Shidey Glasstty Hugh9$ Mem(*l Fund 5.745 5,745 1.816 1,816 1,031.153 6.649 157,853 (986,W 208,692 1,031.153 6.649 182,gXI (997.096 114.180 337,786 24
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) 12 Re8trlcted Income funds 2024 At 1 October 2023 At recognised 30 September Gain8J{1088•8) 2024 Incomlng resources Outgolng resources Scientific Research Fund Dentlsts. Provident Society Dentsply Sd)olarship Fund L S Farrar Dental Scholarship Fund Howard Mummery Memorial Prize John McLean Archive Project Grant Gelbier Acquisilion Fund Campaigns Shirley Glasstone Hughes Memla1 Fund 64.760 64,760 14.660 14.660 1.331 1,331 32.501 32,501 8.281 79 (120) 8,240 5.745 5,745 1.816 237 14.000 2,053 (14.000) 208,692 28,448 (187.721) 81.086 130.505 337,786 42,764 {201.841) 81.086 259.795 Full details of the funds can be found in the Directors Report on pages 3 of the accounts. 2023 At 1 October 2022 Other At recognlsed 30 September galns 2023 Incomlng r•sourc•s Outgolng résourc•s Scientific Research Fund Dentists. Provident Society Dentsply Scholarship Fund L S Farrar Denlal Scholarship Fund Howard Mummery Memorial Prize John McLean Archive Projecl Grant Gelbier Acquisition Fund Shirley Glasstone Hughes Memrfyial Fund 64.760 64,760 14,660 14.660 1,331 1.331 32,501 32.501 8,363 (120) 8.281 5.745 5.745 924 892 1.816 268.588 34.871 1174.429) 79.662 208,692 396.872 35,801 (174,549) 79,662 337,786 25
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) 13 Unrestrlcted Income funds This relates to the Inftymation Centre and Museum only. 14 Related party transadions The British Dental Associaiion Trust Fund is a wholly owned subsidiary of the British Denial Association (company number 14161). an Association incorporated in England & Wales under the Companies Act. The Brilish Dental Association is a professional association and trade union provKling professional and legal support to dentlsts in all working environments throu9h advice. representation. events. publications and policy making. The Trust Fund is largely funded by the Association and is considered to be under common control. As a result, the Directors of British Dental Ass(latiOn are of the opinion the Trust shcmjld be conSered to be a subsidiary of the British Denlal AsslatIon. This is the smallest and largest group for which acccAJnts are prepared that include the Trust Fund. Under the Articles of ASS{lab.0n adopted on S May 2000 the 11 directorshrustees will be Ihe following: 8 being the elected non-executive directors of the Brilish Dental Association ("BDA-). 1 being the nonexecutive who holds the posrtion of Chair of the Principal Executive Committee of the BDA; and 2 being the Chief Executive and Finance Director of the BDA Copies of consdidated accounts that include the subsidiary charty's accounts can be obtained from British Dental Associaticm, 64 Wimpole StreeL London. W1G 8YS. During the year the British Dental Association donated £815,000 (2023 - £640.CO)I to the 8rits.sh Dental Association Trust Fund. Management charges of £318,473 (2023 - £349,050) were charged to the British Dental Associaticm Trust Fund for central services carried out by the British Dental Association. At 30 September 2024 the British Dentsl Association Trust Fund owed British Dentsl Association £425,239 (2023: £1.715.643). of which £94,85212023". £997.096) is owedCK120by charity's restrbcted fund.
British Dental Association Trust Fund Notes forming part of the financial statements for the year ended 30 September 2024 (continued) 14 Comparallve Statement of Flnanclal Actlvltles Note Restrlcted funds 2023 Unrestrlcted funds 2023 Total 2023 Total 2022 In¢om• Donations.. Donalion from British Dentsl Association Other donations 640.000 400 640.0 1.292 768,552 8.271 892 Charitable activities." Library income Museum income 350 115 350 115 195 580 Investment income 34,909 34,909 35.385 Total income 35.801 640,865 676.666 812,983 Expenditure Raising lunds.. Investment management costs Chantable activities." Grants and awards payable Costs in furtherance of the charity's objects 28.378 28.378 108.919 146,171 835.766 981,937 778,181 Total expenditure 174.549 835.766 1.010.315 887.100 Net oxpendlture before gainsllosses {138,748) (194,901) (333.649) {74,117) Gain on sales of fixed asset investments Unrealised gaird(losses) on fixed asset inveslments 79,662 79.662 (73,149) Net expenditure, being movement in funds for the year (59.086) 1194.901) (253,987) (147,266) Reconciliation of movement in funds Total funds brought forward 396.872 658,079 1.054,951 1,202,217 Total funds carried forward 337,786 463,178 8CK1.964 1,054,951 27