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2025-09-30-accounts

British Dental Association Trust Fund

Report and Financial Statements

Year Ended

30 September 2025

Company Number 849283 Charity Number 313407

British Dental Association Trust Fund

Report and financial statements

for the year ended 30 September 2025

Contents

Page:

British Dental Association Trust Fund

Directors’ report

for the year ended 30 September 2025

The directors present their report together with the financial statements for the year ended 30 September 2025 and confirm that they comply with current statutory requirements, and with the requirements of the charitable company's governing instrument.

Reference and administrative details

Charity number

The charity number 313407

Company number

The company number 849283

Directors

The directors of the company (and trustees of the charity) during the year were:

Michael Armstrong (Chair) Paul Blaylock (resigned 31 December 2024) Edward Crouch (Deputy Chair) Peter Crooks Laura Cross (resigned 31 December 2025) John Edwards (appointed 1 January 2026) Alison Lockyer (resigned 31 December 2025) Jason Stokes Richard Shilling Martin Woodrow Nigel Jones (appointed 1 January 2026)

Senior management team

The Trust does not have a senior management team. Its strategic direction is managed by the Trustees and Directors, and operational activities are delegated to the management structures of the British Dental Association. The Library and Museum operate within these structures.

Restricted funds are managed directly by the Trustees with the exception of external grants awarded 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 their range of skills and the benefits these bring.

1

British Dental Association Trust Fund

Directors’ report

for the year ended 30 September 2025 (continued)

Principal office

64 Wimpole Street, London, W1G 8YS (until 15 April 2026) 124 City Road, London, EC1V 2NX (from 15 April 2026)

Banking services

National Westminster Bank plc, 1 Cavendish Square, London, W1A 4NU and Lloyds TSB Bank plc, 14 Berkeley Square, London, W1J 6AF

Investment managers

Barclays Wealth, 1 Colmore Square, Birmingham, West Midlands, B4 6ES

Auditors

BDO LLP, 55 Baker Street, Marylebone, London, W1U 7EU

Structure, governance and management

Constitution

The company, which is limited by guarantee (company number 849283) and therefore governed by its Memorandum and Articles of Association, is also a registered charity (charity number 313407).

Recruitment, appointment and training of trustees

The directors are also the charity trustees of the Trust Fund, as listed on page 1.

Under the Articles of Association adopted on 5 May 2000 the 11 directors/trustees will be the following:

Facilities are made available to any new trustees who wish to receive training and guidance in relation to their role as trustees of the charity. The trustees identify and assess training needs on an ongoing basis, both individually and collectively, through performance review.

Remuneration policy

The Trust’s pay structure 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 staff progress by a spine point (or increment) each year until they reach the top of the scale for the grade. New joiners normally start at the bottom of the scale unless market rate or expertise in the role justify a higher starting point.

The incremental adjustments to pay are made in April each year, and in addition to this there may be a cost-ofliving adjustment to the whole pay spine. The Trust pay scales match those of the BDA and are adjusted in with negotiations between the BDA and the GMB, the recognised trade union within the Association, on the cost-ofliving adjustment.

2

British Dental Association Trust Fund

Directors’ report for the year ended 30 September 2025 (continued)

Remuneration policy (continued)

Grades for jobs are determined by job evaluation. The Trust’s job evaluation scheme is based on descriptors for each of the grades in the structure. A standing job evaluation panel consisting of management, personnel and staff representatives grade a job in accordance with the descriptors. If there is doubt about the grading for the job against the descriptors, the panel undertakes a full analysis of the job in accordance with the job evaluation factors. These grades are subject to periodic review against the market.

Job evaluation takes place when a job description has changed to such an extent that there may be a case for re grading, or when a job description is produced for a new job.

Organisational structure

The Trust 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 to the operational and strategic systems of the Association.

The primary operational responsibilities delegated to the Association are:

Restricted funds

L S Farrar Dental Scholarship 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 three-year cycle. No awards were made during the year.

Howard Mummery Memorial Prize:

The object of the fund is to recognise an individual who has, during the preceding five years, successfully applied clinical dentistry contemporary developments in the basic sciences that have relevance to the field of children. No prizes were awarded during the year.

Dentist's Provident Society Student Elective

Student members of the BDA may enter the BDA/Dentist's 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 benefits, both for the student and the place of study. No prizes were awarded 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 movements.

Dentsply Scholarship Fund

This is a hardship fund for undergraduates in their 4[th] and 5[th] year of study or postgraduate dental students at a UK University.

3

British Dental Association Trust Fund

Directors’ report for the year ended 30 September 2025 (continued)

Restricted funds (continued)

John McLean Archive Project Grant

The BDA Museum is working with the Unit for the History of Dentistry of King's College London Dental Institute to create the John McLean Archive: a living history of dentistry.

Shirley Glasstone Hughes Trust Fund

This fund was incorporated into the British Dental Association's Trust Fund as a restricted fund during 2011-12. The original purpose of the Shirley Glasstone Hughes Fund (SGH Fund) is maintained providing prizes or scholarships for external dental research and is managed on a day-to-day basis by a management committee, chaired by Professor Elizabeth Kay.

Since 2013/14, the Trust Fund has opted to fund dental research via the BDA’s research team. This is reviewed and managed by the trustees. During 2023/24 financial year, BDA research positions were integrated into the BDA Trust Fund. This decision was motivated by the recognition that the team's achievements demonstrated a seamless alignment with the Trust's objectives. While this adjustment does not impact overall expenditure, it has resulted in the reclassification of costs within restricted funds, increasing salaries and the removal of grants awarded.

Risk management

The Trustees fully recognise their responsibility to manage the risks facing the Trust 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 process and will be reviewed in future as part of the wider risk strategy. The directors consider the major risks facing the charity are:

The Trust manages the risks around reputation and public benefit through close monitoring and development of its services in order to ensure they meet both the Trust’s objects and the wider interests of dentistry and the public. The Trustees review the policies and operational plans of the Library and Museum annually and liaise with the BDA in order to 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 close coordination of financial direction. The Trust plans to review the range of activities it undertakes and its relationship with the Association over the next financial year in order to ensure its continued support.

4

British Dental Association Trust Fund

Directors’ report

for the year ended 30 September 2025 (continued)

Fundraising statement

Section 162a of the Companies Act 2011 requires charities to make a statement 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 include its annual donation from the British Dental Association and wider public donations.

In relation to the above, all solicitations are managed internally by trustees, staff and/or volunteers, without involvement of commercial participators or professional fundraisers, or third parties. The day-to-day management of all income generation is delegated to the Association’s senior management team, who are 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 Regulator and complies with the relevant codes of practice. The Trust has not received any complaints during the year. The Trust's terms of employment require staff to behave reasonably at all times.

Objectives and activities

Charitable company's aims and objectives for public benefit

The Trust Fund was established in 1965 with the help of the members of the British Dental Association and a very generous donation from Lilian Lindsay. The objects of the charity are:

The Trustees have considered the Charity Commission's general guidance on public benefit and have taken it into account when reviewing the Trust Fund's aims and objectives and in planning its future activities. The Trustees are satisfied that the aims of the Trust Fund are carried out wholly in pursuit of its charitable aims.

Since 2013/14, the Trust Fund has opted to fund dental research via the British Dental Association’s research team. The Trust has funded three permanent research posts and specific fixed-term projects which are now complete.

The team’s research and evidence-gathering activities focus on the following goals:

The museum continues to be supported by its team of volunteers. Working remotely, they have answered research enquiries, researched and published papers and given talks and carried out interviews. Limited access to the building has restricted their work on the collection but essential work has been carried out.

5

British Dental Association Trust Fund

Directors’ report

for the year ended 30 September 2025 (continued)

Achievements and performance

This year has been exceptional for the BDA Trust Fund, marked by significant strategic changes. The planned sale of 64 Wimpole Street, scheduled for completion in March 2026, required substantial time, effort, and financial resources. A large part of the deficit relates to these activities, including clearing the building and associated transport and storage costs.

For the library, the team completed a significant project involving the reclassification, cataloguing, and secure packing of the entire collection, including rare books and historical archives. Over 4,900 boxes of material were transferred to specialist storage facilities, ensuring the long-term preservation and accessibility of our resources. Following the move, the library service has continued to operate from the Institute of Directors, maintaining full member access to loans, scanning, and advice services. While the physical library space is no longer available, efficient systems have been implemented for recalling items from storage and managing new acquisitions. This achievement reflects the dedication and hard work of the library team and temporary staff, who ensured continuity of service during a period of significant change.

During the year, over 1,700 members used the library, representing 12% of the membership, with students accounting for 20% of student members. Physical loans totalled 2,555 items, and e-book access was recorded by 891 members. The library supplied 923 articles in response to 379 requests and facilitated 1,168 literature searches. Online engagement remained strong, with nearly 5,000 full-text journal articles accessed and an average of 3,720 monthly Medline alerts run by members.

Similarly, the museum’s priority this year was to catalogue, pack, and store its collection in preparation for vacating Wimpole Street. Between October 2024 and July 2025, the museum team successfully packed 30,000 objects to protect and preserve them during transit and for long-term storage. This complex operation required the combined expertise of the volunteer team, external professional packers, and conservators, representing an enormous collaborative effort to safeguard the collection for the future.

Throughout the financial year, our team of three research analysts has continued to conduct numerous research projects aimed at enhancing our understanding of the dental profession and the challenges it faces.

Survey of GDPs and Employed Dentists

We conducted our annual surveys of GDPs and employed dentists, which are primarily used to prepare evidence for the DDRB. These surveys explore workforce trends, pay, job satisfaction, morale, motivation, stress, and other factors. These findings are also analysed and used for other research outputs.

Clinical experience and confidence of dental graduates

We have undertaken research exploring dental graduates' perceptions of their clinical experience and confidence as they move from the end of fifth year through to the conclusion of Dental Foundation Training. This longitudinal study tracked a cohort of graduates, with interviews at three key stages in their progress, to understand how they felt about their clinical abilities. The findings of this research have been written up and submitted for academic publication.

Views on contract reform

We conducted research to establish general dental practitioners' views of how the NHS dental contract should be reformed. This involved applying a modified delphi-method, whereby a range of statements were tested as to the extent to which respondents agreed or disagreed with them and analysis of this data then established whether there was consensus on each statement. Where consensus was not achieved, the results were played back to respondents, who were then invited to state their agreement or disagreement with the statements again. The findings for this have provided an important basis for developing the Association's policy positions on dental contract reform,

Other Research and Analysis

We have conducted research and analysis on various topics, including the economics and finances of NHS dentistry, the private cross-subsidy for NHS dentistry, the costs of expanding access to NHS dental care, the challenges facing armed forces dentists, national and regional averages of Units of Dental Activity values, and recall intervals.

6

British Dental Association Trust Fund

Directors’ report for the year ended 30 September 2025 (continued)

Financial review

Overview

It has been a year of major change for the BDA Trust Fund, driven by the relocation of the Library and Archives from Wimpole Street to the Institute of Directors. This move required significant planning and investment, including the careful cataloguing and secure transfer of collections and heritage items to specialist storage facilities. These exceptional activities, combined with operational adjustments, placed additional demands on resources and contributed to increased expenditure and a deficit for the year.

Total income reached £883,470 (2024: £858,657), driven mainly by a £880,000 donation from the BDA, an increase of £65,000 from the prior year. Investment income fell to £2,476, reflecting the disposal of remaining investments during the year.

Expenditure rose by 26% to £1,284,261, primarily due to one-off relocation costs of £220,711.

Despite the increase in support by the BDA, these costs contributed to a deficit of £400,833. The restricted SGH Fund was fully utilised, meaning research staffing costs are now met from unrestricted funds.

Net current assets decreased by 61% to £239,034, and cash position reduced by 24% to £765,489, largely due to relocation-related expenditure.

Creditors increased by 21% to £661,106, driven by SGH restricted fund research activity.

The Lavery painting remains classified as a heritage asset and is currently in storage pending trustee decisions on the future format of the Library and Museum.

Reserves policy

The charitable company’s unrestricted income fund represents the reserves available to support its primary objectives. The Trustees aim to maintain an appropriate level of reserves to safeguard against financial risks, particularly any significant reduction in donations from the British Dental Association.

The current policy sets a target of £500,000 in unrestricted contingency reserves. While this is below the level of one year’s expenditure, the Trustees consider it reasonable given the continued support from the British Dental Association and the Trust’s strategic plans. This level provides a meaningful buffer against short-term disruption without holding excessive funds that could otherwise be invested in delivering services.

Total reserves stood at £318,001 (2024: £718,834). After excluding fixed and heritage assets (£78,967) and restricted funds (£129,213), unrestricted reserves amount to £109,821 (2024: £378,497), which is below the policy target. The major reason for this reduction relates to activities required to prepare for the sale of 64 Wimpole Street, scheduled for completion in March 2026. Significant time, effort, and financial resources were invested in clearing the building, including transport and storage costs. While the physical library space is no longer available, efficient systems have been implemented for recalling items from storage and managing new acquisitions.

The Trustees recognise that unrestricted reserves are currently below the target level and are committed to re ‑ establishing reserves over the medium term. They are therefore reviewing the future shape and operating model ‑ of the BDA Trust Fund, particularly in relation to the library and museum, to ensure long term financial sustainability and alignment with strategic priorities. This review will consider opportunities to broaden and diversify income streams, including developing partnerships, securing external funding to support research and related activities, and exploring collaborative working arrangements. Alongside this, the Trustees will continue to manage costs carefully and prioritise expenditure in line with available resources. Progress towards rebuilding reserves will be monitored regularly, and the reserves target and approach will be kept under review as strategic decisions are implemented.

7

British Dental Association Trust Fund

Directors’ report

for the year ended 30 September 2025 (continued)

Going Concern

The Trustees have fulfilled their responsibility in preparing the financial statements on an appropriate basis. After reviewing budgets and forecasts for the Trust and its principal donor, the British Dental Association (BDA), the Trustees remain confident of continued financial support.

The Trustees acknowledge the challenging environment for charities in securing external income and note that the Trust does not undertake fundraising activities. During the year, the SGH restricted fund was fully utilised, meaning that research activity previously funded from restricted funds will, in future, be supported from unrestricted resources.

During the year, significant one-off costs were incurred in preparation for the sale of 64 Wimpole Street, scheduled for completion in March 2026. These costs included clearing the building and transport and storage arrangements, contributed to the reduction in unrestricted reserves. At the year-end, the Trust held £569,071 in unrestricted cash and unrestricted reserves of £188,788, which is below the target set in the reserves policy. The Trustees expect the planned sale of 64 Wimpole Street will strengthen liquidity and provide resources to support future activity.

The Trustees recognise that deficits have been generated in some prior years, including years without one-off expenditure, and have therefore considered whether unrestricted reserves could be exhausted if funding levels remained unchanged or costs increased. In forming their assessment, the Trustees have taken account of the Trust’s available cash resources and the continued support of the BDA.

The Trust has received a formal letter of support from the British Dental Association dated 27 April 2026, confirming its intention to continue funding the Trust during the going concern period. Based on this assurance, the Trustees remain confident in the Trust’s ability to meet its commitments.

In addition, the Trustees are reviewing the future shape and operating model of the BDA Trust Fund to support ‑ longer term sustainability. This includes identifying operating efficiencies, prioritising activities in line with available resources, and exploring opportunities to develop partnerships and collaborative arrangements to support research and related activity.

Based on this assessment, including cash position, anticipated sale proceeds, and continued donor support, the Trustees are confident that the BDA Trust Fund has sufficient resources to meet its obligations as they fall due. Accordingly, the financial statements have been prepared on a going concern basis.

Plans for the future

The Trustees are reviewing the future format of the BDA Trust Fund, particularly the library and museum, to ensure sustainability and alignment with member needs. This review will consider options for digital engagement, virtual access, and long-term operational models.

For the library, plans for the coming year include enhancing digital and member-focused services. Initiatives will expand the CPD offering with five new e-books, providing an additional 10 hours of verifiable CPD. Further developments include introducing online one-to-one tutorials to support literature searching, strengthening collaboration with the Marketing team to raise awareness, and seeking approval to launch a scheme enabling Dental Care Professionals to join for a small fee.

For the museum, the priority is to consolidate its position following relocation and develop sustainable ways of working with the volunteer team and collection remotely. This includes creating processes for digital engagement, exploring virtual access opportunities, and establishing a long-term solution for operations and future development.

The research team will continue to undertake projects, including to understand CDS dentists' views about their contracts, terms and conditions. There will also be work to understand the specific challenges and needs of younger dentists. We will continue our work analysing the economics and finances of NHS dentistry, refreshing our methodology for calculating the costs of various dental treatment, and better understanding the costs of delivering dental care.

8

British Dental Association Trust Fund

Directors’ report

for the year ended 30 September 2025 (continued)

Auditors

All of the current directors have taken all the steps that they ought to have taken to make themselves aware of any information needed by the charitable company's auditors for the purposes of their audit and to establish that the auditors are aware of that information. The directors are not aware of any relevant audit information 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 this directors' report, advantage has been taken of the small companies' exemption and the small charities exemptions permitted by Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounting in accordance with the Financial Reporting Standard applicable in the UK and Republic (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS102)) and was approved by the directors on 1 June 2026.

Chairman

9

British Dental Association Trust Fund

Directors' and Trustees' responsibilities statement

for the year ended 30 September 2025

The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the 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 the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and 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 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 steps for the prevention and detection of fraud and other irregularities.

Financial statements are published on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity’s website is the responsibility of the trustees. The trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.

10

British Dental Association Trust Fund

Independent auditor's report

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE BRITISH DENTAL ASSOCIATION TRUST FUND

Report on the audit of the financial statements

Opinion

In our opinion, the financial statements:

We have audited the financial statements of the British Dental Association Trust Fund (“the Charitable Company”) for the year ended 30 September 2025 which comprise the following:

Charitable Company Statement of financial activities Balance sheet Statement of cash flows Notes 1 to 15 to the Charitable Company financial statements a summary of significant accounting policies.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remain independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the Charitable Company’s ability to continue as a going concern.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

11

British Dental Association Trust Fund

Independent auditor's report (continued)

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Report and Financial Statements, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements 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 responsibility 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Other Companies Act 2006 reporting

In our opinion, based on the work undertaken in the course of the audit:

In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in the Strategic report or the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Directors' and Trustees' responsibilities 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 determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.

12

British Dental Association Trust Fund

Independent auditor's report (continued)

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements 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 material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, 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.

However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the Charitable Company and management.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Non-compliance with laws and regulations

Based on:

we considered the significant laws and regulations to be the United Kingdom Generally Accepted Accounting Practice, the Charities Act 2011 and the Companies Act 2006.

The Charitable Company is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be trust law, corporate and VAT legislation, employment taxes, health and safety legislation, and the Bribery Act 2010.

Our procedures in respect of the above included:

Fraud

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

13

British Dental Association Trust Fund

Independent auditor's report (continued)

Based on our risk assessment, we considered the areas most susceptible to fraud to be management override of controls.

Our procedures in respect of the above included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members who were all deemed to have appropriate competence and capabilities and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed noncompliance with 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 responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at:

https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Laurence Elliott (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor London, UK

05 June 2026 Date

BDO LLP is a limited liability partnership registered 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 2025

Note
Restricted
Unrestricted
funds
funds
2025
2025
£
£
Income
Donations:
Donation from British Dental
Association
-
880,000
Other donations
-
708
Charitable activities:
Library income
-
286
Museum income
-
-
Investment income
2
2,476
-
_
________
Total income
2,476
880,994
_
_
Expenditure
_Raising funds:
Investment management costs
27
-
Charitable activities:
Grants and awards payable
3
-
-
Costs in furtherance of the
charity's objects
3
132,989
1,151,245
__
__
Total expenditure
133,016
1,151,245
__
__
Net expenditure before
(losses)/gains
(130,540)
(270,251)
Net (losses)/gains on fixed asset
investments
7
(42)
-
__
__
Net movements in funds for the
year
(130,582)
(270,251)
Reconciliation of movement in
funds
Total funds brought forward
259,795
459,039
_
_
Total funds carried forward
129,213
188,788

 Total
2025
£
880,000
708
286
-
2,476
__
883,470
__
27
-
1,284,234
__
1,284,261
__
(400,791)
(42)
__
(400,833)
718,834
__
318,001
 Total
2024
£
815,000
14,542
582
6
28,527
_
858,657
_
-
-
1,021,873
_
1,021,873
_
(163,216)
81,086
_
(82,130)
800,964
_
718,834

All amounts relate to continuing activities.

All recognised gains and losses in the current and prior year are included in the statement of financial activities.

The notes on pages 18 to 27 form part of these financial statements.

15

British Dental Association Trust Fund

Balance sheet at 30 September 2025

Company number 849283
Note
Restricted
Unrestricted
funds
funds
2025
2025
£
£
Fixed assets
Tangible fixed assets
5
-
18,967
Heritage assets
6
-
60,000
Investments
7
-
-
__
__
Total fixed assets
-
78,967
_
_
Current assets
Debtors
8
114,656
19,995

Cash and cash equivalents
196,418
569,071

__
__
Total current assets
311,074
589,066

_
_
Creditors: amounts falling due
within one year
Other creditors
9
(181,861)
(479,245)
_
_
Net current assets
129,213
109,821
_
_
Total assets less current
liabilities
11
129,213
188,788
_
_
Represented by:
Income funds
11
129,213
188,788

 Total
2025
£
18,967
60,000
-
__
78,967
_
134,651
765,489
__
900,140
_
(661,106)
__
239,034
__
318,001
__
318,001
 Total
2024
£
20,542
60,000
24,940
_
105,482
_
149,168
1,011,490
_
1,160,658
_
(547,306)
_
613,352
_
718,834
__
718,834

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These accounts were approved by the board on 1 June 2026

Chairman

The notes on pages 18 to 27 form part of these financial statements.

16

British Dental Association Trust Fund

Statement of cash flows 30 September 2025

Note 2025 2024
£ £
Cash flows from operating activities
Net expenditure (400,833) (82,130)
Adjustments for:
Depreciation of fixed assets 5 9,840 9,321
Gross interest received 2 (1,640) (3,143)
Income from fixed asset investments 2 (836) (25,384)
Decrease /(Increase) in debtors 8 14,517 (7,292)
Increase / (Decrease) in creditors 9 113,800 (1,282,517)
Loss/(gain) on sale of investments 42 (25,708)
(Gain) on revaluations of investments - (55,378)
__ __
Net cash used in operating activities (265,110) (1,472,231)
__ __
Cash flows from investing activities
Proceeds from sale of fixed asset investments 7 24,898 1,087,299
Purchases of tangible fixed assets 5 (8,265) (8,289)
Gross interest received 2 1,640 3,143
Dividends received on fixed asset investments 2 836 25,384
__ __
Net cash generated from investing activities 19,109 1,107,537
__ __
Net decrease in cash and cash equivalents (246,001) (364,694)
Cash and cash equivalents at beginning of year 1,011,490 1,376,184
__ __
Cash and cash equivalents at end of year 765,489 1,011,490
__ __
Cash and cash equivalents comprise:
Cash at bank and in hand 765,489 1,011,490
__ __
Other
1 October Cash Non-cash 30 September
Net funds reconciliation 2024 Flows changes 2025
£ £ £ £
Cash and cash equivalents 1,011,490 (246,001) - 765,489
Bank and other loans - - - -
__ __ __ __
At 30 September 2025 1,011,490 (246,001) - 765,489
__ __ __ __

The notes on pages 18 to 27 form part of these financial statements.

17

British Dental Association Trust Fund

Notes forming part of the financial statements for the year ended 30 September 2025

1 Accounting policies

The British Dental Association Trust Fund is an incorporated charity registered in England & Wales with the Charity Commission. The address of the registered office is given on the contents page and the nature of its operations is set out in the Director's report. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounting in accordance with the Financial Reporting Standard applicable in the UK and Republic (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Fund's accounting policies. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime to the extent that they are compatible with the Charities SORP.

Going Concern

The Trustees have fulfilled their responsibility in preparing the financial statements on an appropriate basis. After reviewing budgets and forecasts for the Trust and its principal donor, the British Dental Association (BDA), the Trustees remain confident of continued financial support.

The Trustees acknowledge the challenging environment for charities in securing external income and note that the Trust does not undertake fundraising activities. During the year, the SGH restricted fund was fully utilised, meaning that research activity previously funded from restricted funds will, in future, be supported from unrestricted resources.

During the year, significant one-off costs were incurred in preparation for the sale of 64 Wimpole Street, scheduled for completion in March 2026. These costs included clearing the building and transport and storage arrangements, contributed to the reduction in unrestricted reserves. At the year-end, the Trust held £569,071 in unrestricted cash and unrestricted reserves of £188,788, which is below the target set in the reserves policy. The Trustees expect the planned sale of 64 Wimpole Street will strengthen liquidity and provide resources to support future activity.

The Trustees recognise that deficits have been generated in some prior years, including years without one-off expenditure, and have therefore considered whether unrestricted reserves could be exhausted if funding levels remained unchanged or costs increased. In forming their assessment, the Trustees have taken account of the Trust’s available cash resources and the continued support of the BDA.

The Trust has received a formal letter of support from the British Dental Association dated [XX Month 202X], confirming its intention to continue funding the Trust during the going concern period. Based on this assurance, the Trustees remain confident in the Trust’s ability to meet its commitments.

In addition, the Trustees are reviewing the future shape and operating model of the BDA Trust Fund to support ‑ longer term sustainability. This includes identifying operating efficiencies, prioritising activities in line with available resources, and exploring opportunities to develop partnerships and collaborative arrangements to support research and related activity.

Based on this assessment, including cash position, anticipated sale proceeds, and continued donor support, the Trustees are confident that the BDA Trust Fund has sufficient resources to meet its obligations as they fall due. Accordingly, the financial statements have been prepared on a going concern basis.

18

British Dental Association Trust Fund

Notes forming part of the financial statements for the year ended 30 September 2025 (continued)

1 Accounting policies (continued)

Income

Investment income, which is shown with its related tax credit when applicable, is accounted for in the period in which the charitable company is entitled to receipt, any income not yet received is accrued. Realised gains and losses on the sale of investments and unrealised gains and losses on the revaluation of investments are included in the statement of financial activities.

Likewise, donations and Library and Museum income are accounted for when receivable.

Grants are recognised in full in the statement of financial activities in the year in which they are receivable, unless they are for a future period, in which case they are deferred.

Expenditure

The BDA Trust Fund is not registered for VAT therefore, all expenditure is accounted for on an accruals basis and is inclusive of VAT.

Fixed assets and depreciation

Depreciation

Tangible fixed assets are carried at cost and are used in direct furtherance of the charitable 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 realisable value, of all tangible fixed assets by equal annual instalments over their expected useful lives. The periods generally applicable are:

Furniture, computer equipment and books

Fixed asset investments

Fixed asset investments are shown at market value (based on mid-market values) at the balance sheet date.

Pensions

The Fund makes pension contributions, on behalf of its employees, to the British Dental Association's defined contribution pension scheme. Details of the Scheme can be found in the Association's accounts for the year to 30 September 2025.

Fixed assets - Heritage assets

The Trust Fund maintains a collection of museum exhibits purchased or donated to the charity many years ago. In accordance with the charities SORP 2020 (FRS 102), the Trust Fund's collection of museum exhibits, and other major items are recorded on the balance sheet at cost. The Trustees consider that obtaining valuations for the historical elements of the museum exhibits would involve disproportionate cost due to the diverse nature of the assets held and the lack of comparable market values.

Acquisitions are normally made by donation with occasional purchases. Donations are recorded at a current market valuation with reference, where possible, to commercial markets using recent transaction information from auctions. Recent purchases are recorded at cost.

Expenditure which in the Trustees' view is required to preserve or prevent further deterioration of individual items, including preservation work, is recognised in the Income and Expenditure Account when it is incurred.

19

British Dental Association Trust Fund

Notes forming part of the financial statements

for the year ended 30 September 2025 (continued)

1 Accounting policies (continued)

Grants and awards

Grants payable are charged in the year in which all conditions attached to payment of the grant are fulfilled. Grants offered subject to conditions 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 kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Judgements in applying accounting policies and key sources of estimation uncertainty

20

British Dental Association Trust Fund

Notes forming part of the financial statements for the year ended 30 September 2025 (continued)

2 Investment income

Restricted
Unrestricted
funds
Funds
2025
2025
£
£
Arising in the UK:
Gross income received from UK
quoted investments
836
-
Gross interest received
1,640
-
_
_
2,476
-

 Total
2025
£
836
1,640
__
2,476
 Total
2024
£
25,384
3,143
__
28,527

Of the total investment income in 2024, £nil related to unrestricted funds and £28,527 related to restricted funds.

3 Charitable expenditure

Charitable expenditure
Restricted
Unrestricted
funds
funds
2025
2025
£
£
Grants payable:
Grants payable to institutions
-
-
_
_
Charitable expenditure:
Salaries
117,859
338,004
Pension costs
14,434
72,812
Staff health scheme
563
1,626
Library services, copier, phone, post
-
2,552
Periodicals
-
89,921
Computer costs
-
17,789
Museum expenses
-
3,205
Relocation costs
-
220,711
Establishment and accommodation
-
3,999
Depreciation
-
9,840
Storage and transportation
-
19,027
Sundries
13
21,005
Bank charges
120
3
Campaigns and Communication
-
-
_
_
132,989
800,494
Management and administration
-
350,751
_
_
132,989
1,151,245

 Total
2025
£
-
__
455,863
87,246
2,189
2,552
89,921
17,789
3,205
220,711
3,999
9,840
19,027
21,018
123
-
__
933,483
350,751
__
1,284,234
 Total
2024
£
-
_
440,452
65,164
2,098
2,500
82,816
13,486
6,833
-
2,809
9,321
45,442
12,465
40
14,000
_
697,426
324,447
__
1,021,873

21

British Dental Association Trust Fund

Notes forming part of the financial statements for the year ended 30 September 2025 (continued)

3 Charitable expenditure (continued)

Of the total charitable expenditure in 2024, £820,032 related to unrestricted funds and £201,841 related to restricted funds.

The average monthly number of persons employed by the charitable company during the year was 8 (2024 - 8).

One employee earned over £60,000 in the £60,000-£70,000 bracket (2024: one in the £60,000-£70,000 bracket). Retirement benefits within the British Dental Association defined contribution pension scheme are accruing to 8 staff (2024 - 8).

No director/trustee 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 direction is managed by the trustees and directors and operational activities are delegated to the management structures of the British Dental Association.

4 Management and administration

Restricted
Unrestricted
funds
funds
2025
2025
£
£
Audit fees
-
6,272
BDA expenses recharge
-
344,479
_
_
-
350,751

 Total
2025
£
6,272
344,479
__
350,751
 Total
2024
£
5,974
318,473
__
324,447

Of the total management and administration payable in 2024, £324,447 related to unrestricted funds and £nil related to restricted funds .

22

British Dental Association Trust Fund

Notes forming part of the financial statements for the year ended 30 September 2025 (continued)

5 Tangible fixed assets

Furniture
and
equipment
£
Cost
At 1 October 2024
161,141
Additions
-
Disposals
(161,141)
_
At 30 September 2025
-
__
_Depreciation
At 1 October 2024
161,141
Charge for the year
-
Disposals
(161,141)
_
At 30 September 2025
-
__
_Net book value
At 30 September 2025
-
__
At 30 September 2024
-
 Books
£
311,361
8,265
-
_
319,626
_
290,819
9,840
-
_
300,659
_
18,967
__
20,542
 Total
2025
£
472,502
8,265
(161,141)
__
319,626
__
451,960
9,840
(161,141)
__
300,659
__
18,967
__
20,542
6
Heritage assets
Consolidated
At 1 October
At 30 September
Historic cost of heritage assets		 2025
£
60,000
___
60,000
___
60,000
___		 2024
£
60,000
_
60,000
_
60,000
___

In accordance with Financial Reporting Standard 102 - Heritage Assets, the Trust Fund's collection of museum exhibits and other major items are recorded on the balance sheet at cost. This relates to a specific asset which was acquired by the BDA Trust Fund with the support of fundraising efforts. The asset is considered to have an indefinite life and therefore it is not depreciated but is reviewed for impairment at each balance sheet date.

In addition to the heritage asset recognised at cost, the charity also, has a number of other items which are not recorded on the balance sheet as their fair value cannot be reliably estimated. The majority of these items were purchased or donated to the charity many years ago and as a result in the view of the directors the historic cost of these assets is immaterial to the group. The exhibits were valued for insurance purposes at £1,212,070 by Michael Mays Art & Antiques Surveyor, 7 Main Street, Kibworth Harcourt, Leicestershire, LE8 0NR in September 2018.

23

British Dental Association Trust Fund

Notes forming part of the financial statements

for the year ended 30 September 2025 (continued)

7
Fixed asset investments
Quoted investments
At 1 October
Sale of investments
Net (losses)/gains on investments
As at 30 September
Historic cost of investments
The total market value at 30 September comprises:
Investments quoted on recognised stock exchange
8
Debtors
Restricted
Unrestricted
funds
funds
2025
2025
£
£
Due from unrestricted fund
114,418
-
Other debtors
238
300
Prepayments and accrued income
-
19,695
_
_
114,656
19,995


 2025
2024
£
£
24,940
1,031,153
(24,898)
(1,087,299)
(42)
81,086
__
_
-
24,940
__
_
-
30,180
_
_
2025
2024
£
£
-
24,940
_
_
Total
Total
2025
2024
£
£
114,418
114,418
538
6,566
19,695
28,184
__
__
134,651
149,168

9 Creditors - amounts falling due within one year

Restricted
Unrestricted
funds
funds
2025
2025
£
£
Due to restricted funds
-
114,418
Accruals
-
-
Due to British Dental Association
181,861
364,827
_
_
181,861
479,245

 Total
2025
£
114,418
-
546,688
__
661,106
 Total
2024
£
114,418
7,649
425,239
__
547,306

24

Notes forming part of the financial statements for the year ended 30 September 2025 (continued)

British Dental Association Trust Fund

10 Financial instruments

The British Dental Association Trust Fund only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

11 Analysis of restricted fund net assets

2025

2025
Investments
£
Scientific Research
Fund
-
Dentists' Provident
Society
-
Dentsply Scholarship
Fund
-
L S Farrar Dental
Howard Mummery
Memorial
-
John McLean Archive
Project
-
Gelbier acquisition
donations
-
Shirley Glasstone
Hughes Memorial
Fund
-
_
-
__
2024
Investments
£
Scientific Research
Fund
-
Dentists' Provident
Society
-
Dentsply Scholarship
Fund
-
L S Farrar Dental
Howard Mummery
Memorial
-
John McLean Archive
Project
-
Gelbier acquisition
donations
-
Shirley Glasstone
Hughes Memorial
Fund
24,940
_____
24,940
 Debtors
£
-
-
-
-
-
-
-
238
__

238
_
Debtors
£
-
-
-
-
-
-
-
6,266
___

6,266
 Bank
£
-
-
18,582
-
6,348
-
-
171,488
__

196,418
__
Bank
£
-
-
18,714
-
6,292
-
-
184,017
______

209,023
 Creditors
£
-
-
-
-
-
-
-
__

-
__
Creditors
£
-
-
-
-
-
-
-
______

-
 BDA inter
Due from/(to)
Company
unrestricted
creditor
funds
£
£
-
64,760
-
14,660
(10,135)
(7,249)
-
32,501
-
1,948
-
5,745
-
2,053
(171,726)
-
_
_

(181,861)
114,418
__
_
BDA inter
Due from/(to)
Company
unrestricted
creditor
funds
£
£
-
64,760
-
14,660
(10,134)
(7,249)
-
32,501
-
1,948
-
5,745
-
2,053
(84,718)
-
_
______

(94,852)
114,418

 Total
funds
£
64,760
14,660
1,198
32,501
8,296
5,745
2,053
-
__
129,213
__
Total
funds
£
64,760
14,660
1,331
32,501
8,240
5,745
2,053
130,505
______
259,795

25

British Dental Association Trust Fund

Notes forming part of the financial statements for the year ended 30 September 2025 (continued)

12 Restricted income funds

2025 At Other At
1 October Incoming Outgoing recognised 30 September
2024 resources resources Gains/(losses) 2025
£ £ £ £ £
Scientific Research
Fund 64,760 - - - 64,760
Dentists' Provident
Society 14,660 - - - 14,660
Dentsply Scholarship
Fund 1,331 - (133) - 1,198
L S Farrar Dental
Scholarship Fund 32,501 - - - 32,501
Howard Mummery
Memorial Prize 8,240 56 - - 8,296
John McLean Archive
Project Grant 5,745 - - - 5,745
Gelbier Acquisition
Fund 2,053 - - - 2,053
Campaigns - - - - -
Shirley Glasstone
Hughes Memorial Fund 130,505 2,420 (132,883) (42) -
__ __ __ __ __
259,795 2,476 (133,016) (42) 129,213
__ __ __ __ __

Full details of the funds can be found in the Directors Report on page 3 of the accounts.

2024 At Other At
1 October Incoming Outgoing recognised 30 September
2023 resources resources gains 2024
£ £ £ £ £
Scientific Research
Fund 64,760 - - - 64,760
Dentists' Provident
Society 14,660 - - - 14,660
Dentsply Scholarship
Fund 1,331 - - - 1,331
L S Farrar Dental
Scholarship Fund 32,501 - - - 32,501
Howard Mummery
Memorial Prize 8,281 79 (120) - 8,240
John McLean Archive
Project Grant 5,745 - - - 5,745
Gelbier Acquisition
Fund 1,816 237 - - 2,053
Campaigns - 14,000 (14,000) - -
Shirley Glasstone
Hughes Memorial
Fund 208,692 28,448 (187,721) 81,086 130,505
__ __ __ __ __
337,786 42,764 (201,841) 81,086 259,795
__ __ __ __ __

26

Notes forming part of the financial statements for the year ended 30 September 2025 (continued)

British Dental Association Trust Fund

13 Unrestricted income funds

This relates to the Information Centre and Museum only.

14 Related party transactions

The British Dental Association Trust Fund is a wholly owned subsidiary of the British Dental Association (company number 14161), an Association incorporated in England & Wales under the Companies Act. The British Dental Association is a professional association and trade union providing professional and legal support to dentists in all working environments through 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 Association are of the opinion the Trust should be considered to be a subsidiary of the British Dental Association. This is the smallest and largest group for which accounts are prepared that include the Trust Fund. Under the Articles of Association adopted on 5 May 2000 the 11 directors/trustees will be the following:

Copies of consolidated accounts that include the subsidiary charity’s accounts can be obtained from British Dental Association, 64 Wimpole Street, London, W1G 8YS.

During the year the British Dental Association donated £880,000 (2024 - £815,000) to the British Dental Association Trust Fund. Management charges of £344,479 (2024 - £318,473) were charged to the British Dental Association Trust Fund for central services carried out by the British Dental Association.

At 30 September 2025 the British Dental Association Trust Fund owed the British Dental Association £546,688 (2024: £425,239), of which £181,861 (2024: £94,852) is owed by the charity's restricted fund.

27

British Dental Association Trust Fund

Notes forming part of the financial statements for the year ended 30 September 2025 (continued)

15 Comparative Statement of Financial Activities

Note
Restricted
Unrestricted
funds
funds
2024
2024
£
£
Income
Donations:
Donation from British Dental
Association
-
815,000
Other donations
14,237
305
Charitable activities:
Library income
-
582
Museum income
-
6
Investment income
2
28,527
-
_
________
Total income
42,764
815,893
_
_
Expenditure
_Raising funds:
Investment management costs
-
-
Charitable activities:
Grants and awards payable
3
-
-
Costs in furtherance of the
charity's objects
3
201,841
820,032
_
_
Total expenditure
201,841
820,032
_
_
Net expenditure before
gains/losses
(159,077)
(4,139)
Net gains on fixed asset
investments
7
81,086
-
_
_
Net movements in funds for the
year
(77,991)
(4,139)
Reconciliation of movement in
funds
Total funds brought forward
337,786
463,178
_
_
Total funds carried forward
259,795
459,039

 Total
2024
£
815,000
14,542
582
6
28,527
_
858,657
_
-
-
1,021,873
_
1,021,873
_
(163,216)
81,086
_
(82,130)
800,964
_
718,834
 Total
2023
£
640,000
1,292
350
115
34,909
_
676,666
_
-
28,378
981,937
_
1,010,315
_
(333,649)
79,662
_
(253,987)
1,054,951
_
800,964

28