Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
REGISTERED COMPANY NUMBER: 00308084 (England and Wales) REGISTERED CHARITY NUMBER: 313751
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
OSTEOPATHIC TRUSTS LIMITED
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 16
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED (REGISTERED NUMBER: 00308084)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
Objectives of the charity remain as since its foundation in 1935 by US trained osteopaths, to provide [a] training in osteopathy, [b] treatment by osteopathic methods, and [c] research into those methods and their rationale.
These objectives, which have been pursued consistently and successfully through the years since, have faced re-examination to take account of the statutory restriction since 1993 of the term osteopathy to the practices defined and approved from time to time by the UK General Osteopathic Council [GOsC]. However the founding documents of the charity use wording to describe its teaching, treatment and research objects as extending to "osteopathic, medical or surgical" methods so permitting the trustee discretion in how they will interpret their founders' intentions.
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED (REGISTERED NUMBER: 00308084)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES Public benefit
We confirm that directors have referred to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. No activity carried on by the charity during the year or envisaged for the coming year falls outside the objects of the charity and all are directly of public benefit.
Training
Training has, with only brief interruptions, continued since 1946, initially as the London College of Osteopathy and since 1980 as the London College of Osteopathic Medicine [LCOM]. The course has always been designed to teach osteopathic understanding, skills and clinical competence to those who have already qualified and practised as medical doctors. The strategy of only accepting those who already had medical training was originally to overcome the considerable opposition of established healthcare to recognition of, and cooperation with, osteopaths. Those trained in both disciplines have been able to contribute to the development and eventual statutory recognition of osteopathy at which time four such members of the LCOM were practising as consultants in the NHS. Recent trainees have combined their training with that in Rehabilitation or Sport & Exercise Medicine and can thus aid understanding of osteopathy in specialist NHS medicine circles. With its course specifically for established medical practitioners, the LCOM has a unique worldwide identity with the result that its graduates include those from over twenty-nine nations.
Following five doctors completing their training successfully in August 2019, recruitment for a course to commence in 2020 was interrupted by the emergence of the COVID-19 virus which rendered any planning of a course impossible. By the end of 2020 the situation still prevailed that no clinical education could take place and prospective candidates could only be offered tentative possibilities of a course commencing in 2021. In the event this course did not take place and training has not resumed since.
Trustees have had to recognise that for training to re-commence, the institution must provide (a) a training venue with patients seeking osteopathic care, (b) doctors in training to provide such care, under the supervision of (c) registered osteopaths : this trio of opportunity to be reliably (d) funded and administered including statutory accreditation.
Council is currently assessing whether all the factors (a-d) can be assembled with the readiness of doctors to undertake training being the crucial factor and live issue.
Treatment
The Osteopathic Association Clinic, now in Marylebone, is continuing to provide treatment by registered osteopaths including doctors trained in osteopathic methods as it has for over ninety years. This continued clinical fusion is viewed by the trustees as a unique example of medical osteopathic practice available for observation; an educational resource available to other doctors and health commissioners.
Treatment using osteopathic methods has been available, to those not able to afford usual professional fees, at the Osteopathic Association Clinic, a registered charity founded in 1927 that became part of OT in 1998.
During the year 2023, 988 consultations were provided by registered osteopaths, a 21% reduction through the year when compared with 1247 in 2022 and 1523 in 2020.. During lockdown and slowly progressive partial resumption of clinic work, the requirements of protective equipment and social distancing had reduced the allowable patient flow. The two clinicians most active in the clinic suffered from infection with the virus and were not able to work for many weeks. They presently are working to full capacity, while further recruits to their highly specific role are sought.
Research
Without the facilities or funds to establish a research team, OT has had to be more an advocate and promoter of research into osteopathic concepts and treatments but nevertheless had funded the first positive randomised controlled trial of osteopathic manipulation, for back pain, published in the world literature in 1990.
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED (REGISTERED NUMBER: 00308084)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES
Consulting space and administrative support had been provided for a randomised controlled trial of a specific osteopathic manipulative treatment for Restless Legs Syndrome, a condition that seriously affects the sleep of upto 2% of the population. A considerable benefit, approaching a cure, for the majority of patients has been the highly satisfying result and the trial report has been peer-reviewed, and published in International Musculoskeletal Medicine in 2012. Analysis of long-term outcomes, at least three years, has shown that the majority of responders to the treatment maintain that benefit. Next in the programme of evaluations usual for any new treatment, clinical audit, is planned. .
FINANCIAL REVIEW
Financial Review
The Trustees limited aim through adverse conditions over the last four years is to maintain a clinic; self-financing through consulting room rental and osteopathic patient care; to provide a stable base for running medical osteopathic training courses. A 50% increase in rental income further supported this aim. The business model for such a course would be for it to be financed by the course fees.
The progress, moving from the £23,000 loss in 2021, to a modest profit in 2022 was continued by a surplus of £24,000 in 2023.
Investment policy and objectives
The directors have the power to invest any monies not immediately required for the charitable company's purpose in such investments, securities and property as may be thought fit.
The investments are held with the objective of providing income to cover the operational deficit incurred by the charitable company in pursuing its charitable objectives.
Reserves policy
Following extensive refurbishment and re-organisation over recent years the reserves of the charity were reduced below a level that the directors would have chosen. They took note of the Charity Commission former advice to maintain the unrestricted funds, not committed or invested in tangible fixed assets ('the free reserves'), to between 12 and 18 months of normal resources expended. However this is clearly not possible in the company's present situation and they took the view that the intent of the Commission's policy was more directed at charities with longer term commitments and less likely fluctuations of income and should not apply to charities that relied on meeting their objectives from income as it is received, and with few commitments much exceeding a year. They were encouraged that this view accorded with that of William Shawcross, then Chairman of the Charity Commission, giving evidence to a parliamentary select committee in November 2017.
FUTURE PLANS
Throughout 2022 the trustees maintained an expectation that, should an adequate demand for training be forthcoming and a viable business plan developed, there were hopes that an MLCOM course could be re-started. In the event neither of these requirements could be achieved and a fallback policy was maintained of providing clinical services through the Osteopathic Association Clinic and renting out consulting and lecturing rooms. At present this policy is maintaining a balance between income and costs without having to draw on reserves. However continuing contact with alumni of the LCOM confirms the persistence of the ability and intention to run a course maintaining previous standards. Expressions of interest in training continue to be received.
Meanwhile the trustees are aware of a shrinking demand for osteopathic training to GOsC standards in the UK against a background of increasing health service interest in improving the provision of musculoskeletal services. NHS England and other agencies are developing standards and assessments for clinicians but training is generally delivered through knowledge-based initiatives. The hands-on clinical expertise, so valued by graduates of the LCOM, is not being delivered and trustees are considering means by which this need could be met.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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OSTEOPATHIC TRUSTS LIMITED (REGISTERED NUMBER: 00308084)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
Previously the charity's trustee recruitment has been largely from graduates of the college, as they understand the significance of its contemporary role in the healthcare community, have experience of the necessary ways of working of a small voluntary clinical training unit, and have the motivation to help it survive and succeed.
The professional grouping of graduates, the Association for Medical Osteopathy, maintains contact with members who receive regular invitations to be involved in the charity. Membership of OT is open to LCOM graduates who wish to attend general meetings and keep in touch with decision-making and election of trustees. Trustees can be nominated for election at a general meeting or be co-opted during the year by the board pending confirmation at the next general meeting.
Induction of trustees has been arranged by the Chair but somewhat challenging necessarily with limited physical contact with premises or personnel. They are introduced to Charity Commission guidance, such as brochure CC3.
Management team
The loss of the management team was necessarily a challenge but mitigated by the circumstance that much of their work was in preparation for the upcoming course which didn't take place. However the chair and trustees were called on to work considerably beyond their expected responsibilities earning the gratitude and appreciation of the council.
In the aftermath of these stresses, Council, recognised a need to resolve a tension, perhaps inevitable in an organisation of its size, between affording professional management but thereby seriously burdening the organisation's survival.
Wider network
The company is independent of any other organisation although maintaining cooperative relationships with bodies with overlapping objectives such as the Council for Osteopathic Educational Institutions, General Osteopathic Council , Institute of Osteopathy and the National Council for Osteopathic Research.
Risk management
The directors consider the major strategic and operational risks that the company faces and review the steps that could be taken to minimise those risks. With the recent abeyance of courses leading to registration with the GOsC, risks related to responsibilities to students admitted to those courses cease and those concerned with a treatment clinic continue.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
00308084 (England and Wales)
Registered Charity number
313751
Registered office
8-10 Boston Place London NW1 6QH
Trustees
Dr A Allcock Dr J Neaves (appointed 5/11/2023) Ms C J Surridge Dr J A Tanner Dr J Inklebarger (appointed 5/11/2023)
Company Secretary
Dr R S Macdonald
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED (REGISTERED NUMBER: 00308084)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Dr Shona F Wardrop CA Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Bankers
HSBC Bank Plc 186 Baker Street London NW1 5RU 26 September 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Ms C J Surridge - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OSTEOPATHIC TRUSTS LIMITED
Independent examiner's report to the trustees of Osteopathic Trusts Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Dr Shona F Wardrop CA The Institute of Chartered Accountants of Scotland
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA 26 September 2024
Date: .............................................
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OSTEOPATHIC TRUSTS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted Endowment fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,982 - Charitable activities London College of Osteopathic Medicine - - Osteopathic Association Clinic 57,484 - Other trading activities 2 55,281 - Investment income 3 3,525 - Total 118,272 - EXPENDITURE ON Charitable activities London College of Osteopathic Medicine - - Osteopathic Association Clinic 93,908 - Total 93,908 - Net gains/(losses) on investments (1,412) - NET INCOME 22,952 - RECONCILIATION OF FUNDS Total funds brought forward 221,213 47,942 TOTAL FUNDS CARRIED FORWARD 244,165 47,942 |
2023 Total funds £ 1,982 - 57,484 55,281 3,525 118,272 - 93,908 93,908 (1,412) 22,952 269,155 292,107 |
2022 Total funds £ - 29,716 72,840 36,825 3,395 142,776 22,344 116,547 138,891 (3,545) 340 268,815 269,155 |
|---|---|---|
The notes form part of these financial statements
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED (REGISTERED NUMBER: 00308084)
BALANCE SHEET 31 DECEMBER 2023
| Unrestricted Endowment fund fund Notes £ £ FIXED ASSETS Tangible assets 8 235,164 - Investments 9 10,747 47,942 245,911 47,942 CURRENT ASSETS Debtors 10 - - Cash at bank and in hand 33,319 - 33,319 - CREDITORS Amounts falling due within one year 11 (22,644) - NET CURRENT ASSETS 10,675 - TOTAL ASSETS LESS CURRENT LIABILITIES 256,586 47,942 CREDITORS Amounts falling due after more than one year 12 (12,421) - NET ASSETS 244,165 47,942 FUNDS 14 Unrestricted funds Endowment funds TOTAL FUNDS |
2023 Total funds £ 235,164 58,689 293,853 - 33,319 33,319 (22,644) 10,675 304,528 (12,421) 292,107 244,165 47,942 292,107 |
2022 Total funds £ 235,164 60,102 295,266 147 23,695 23,842 (28,940) (5,098) 290,168 (21,013) 269,155 221,213 47,942 269,155 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED (REGISTERED NUMBER: 00308084)
BALANCE SHEET - continued 31 DECEMBER 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26 September 2024 ............................................. and were signed on its behalf by:
............................................. C J Surridge - Trustee
The notes form part of these financial statements
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
The charity does not capitalise fixed assets with a cost less than £1,000.
The charity does not depreciate its freehold property as it is considered that the asset will retain its value over the period of ownership.
Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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OSTEOPATHIC TRUSTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES - continued
Going concern
The trustees consider that there are no material uncertainties about the company's ability to continue as a going concern. The trustees have taken advantage of the various sources of Government support during the COVID-19 pandemic and consider that it will not have a significant impact on the company's ability to continue trading. Income from trading activities is expected to reduce due to the lockdown conditions and steps are being taken to make cost savings. The trustees regard any impact to be short term rather than affecting the company's ability to continue as a going concern. There are no material uncertainties affecting the current year's accounts.
2. OTHER TRADING ACTIVITIES
| Room rental 3. INVESTMENT INCOME Dividends Deposit account interest 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Independent examination fee |
2023 £ 55,281 2023 £ 3,497 28 3,525 2023 £ 2,628 |
2022 £ 36,825 |
|---|---|---|
| 2022 £ 3,395 - 3,395 2022 £ 2,436 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
6. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 19,428 | 18,046 |
| 19,428 | 18,046 | |
| The average monthly number of employees during the year was as follows: | ||
| 2023 | 2022 | |
| 2 | 3 | |
| No employees received emoluments in excess of £60,000. | ||
| There were no employed key management personnel during 2023 or 2022. |
| Wages and salaries The average monthly number of employees during the year was as follows: |
2023 £ 19,428 19,428 |
2022 £ 18,046 |
|
|---|---|---|---|
| 18,046 | |||
| No employees received emoluments in excess of £60,000. There were no employed key management personnel during 2023 or 2022. 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities London College of Osteopathic Medicine 29,716 Osteopathic Association Clinic 72,840 Other trading activities 36,825 Investment income 3,395 Total 142,776 EXPENDITURE ON Charitable activities London College of Osteopathic Medicine 22,344 Osteopathic Association Clinic 116,547 Total 138,891 Net gains/(losses) on investments (3,545) NET INCOME 340 RECONCILIATION OF FUNDS Total funds brought forward 220,873 TOTAL FUNDS CARRIED FORWARD 221,213 |
No employees received emoluments in excess of £60,000. There were no employed key management personnel during 2023 or 2022. |
2023 2 |
2022 3 |
| Endowment fund £ - - - - - - - - - - 47,942 47,942 |
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
8. TANGIBLE FIXED ASSETS
| COST At 1 January 2023 and 31 December 2023 DEPRECIATION At 1 January 2023 and 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Freehold property £ 235,164 - 235,164 235,164 |
Fixtures and fittings £ 94,288 94,288 - - |
Totals £ 329,452 |
|---|---|---|---|
| 94,288 | |||
| 235,164 | |||
| 235,164 |
The directors believe that the cost of obtaining a valuation of the property would exceed any benefit the user may gain from having the extra information and so is an unjustifiable expense. The present insurance value of £700,000 is regarded as being the putative rebuilding cost and takes no account of the site value.
9. FIXED ASSET INVESTMENTS
| 2023 | 2022 | ||
|---|---|---|---|
| Quoted Investments: | £ | £ | |
| Market value at 1 January 2023 | 60,102 | 63,647 | |
| Less: disposals at market value | - | - | |
| Net unrealised investment gain/(loss) | (1,412 ) |
(3,545 ) |
|
Market Value at 31 December 2023 |
58,690 | 60,102 |
|
Included in the above are the following investments which represent over 5% of the total value of investments:
| Market value Market value 2023 2022 Unit Trusts: £ £ M&G Securities Limited Charifund Inc 58,690 60,102 58,690 60,102 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ Prepayments and accrued income - 147 |
Market value Market value 2023 2022 Unit Trusts: £ £ M&G Securities Limited Charifund Inc 58,690 60,102 58,690 60,102 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ Prepayments and accrued income - 147 |
Market value Market value 2023 2022 Unit Trusts: £ £ M&G Securities Limited Charifund Inc 58,690 60,102 58,690 60,102 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ Prepayments and accrued income - 147 |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| 58,690 | 60,102 | |
| 58,690 | 60,102 | |
| 2023 £ - |
2022 £ 147 |
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 £ Bank loans and overdrafts (see note 13) 9,251 Trade creditors 2,436 Other creditors 3,830 Accruals and deferred income 4,500 Accrued expenses 2,627 22,644 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Bank loans (see note 13) 12,421 13. LOANS An analysis of the maturity of loans is given below: 2023 £ Amounts falling due within one year on demand: Bank loans 9,251 Amounts falling between one and two years: Bank loans - 1-2 years 12,421 14. MOVEMENT IN FUNDS Net movement At 1/1/23 in funds £ £ Unrestricted funds General fund 221,213 22,952 Endowment funds Endowment Fund 47,942 - TOTAL FUNDS 269,155 22,952 |
2022 £ 9,251 - 9,600 4,500 5,589 28,940 2022 £ 21,013 2022 £ 9,251 21,013 At 31/12/23 £ 244,165 47,942 |
2022 £ 9,251 - 9,600 4,500 5,589 |
|---|---|---|
| 28,940 | ||
| 2022 £ 21,013 |
||
| 2022 £ 9,251 |
||
| 21,013 | ||
| 292,107 |
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 118,272 118,272 |
Resources expended £ (93,908) (93,908) |
Gains and Movement losses in funds £ £ (1,412) 22,952 (1,412) 22,952 |
|---|---|---|---|
Comparatives for movement in funds
| At 1/1/22 £ Unrestricted funds General fund 220,873 Endowment funds Endowment Fund 47,942 TOTAL FUNDS 268,815 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 142,776 (138,891) TOTAL FUNDS 142,776 (138,891) |
Net movement At in funds 31/12/22 £ £ 340 221,213 - 47,942 340 269,155 Gains and Movement losses in funds £ £ (3,545) 340 (3,545) 340 |
|---|---|
The Rosalind Stacey Endowment Fund was originally held in investment assets, from which the income was available for general purposes. During 2008 these investment assets were sold in order to carry out the refurbishment of 8-10 Boston Place and so the funds are now invested in the property.
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Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318
OSTEOPATHIC TRUSTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
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