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** **----- Start of picture text -----**
Page
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
**----- End of picture text -----**
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. Page 1 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. Page 2 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. Page 3 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** ## **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 Page 4 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 Page 5 Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318 ## **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: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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: ............................................. Page 6 Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318 ## **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 Page 7 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 - (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 continued... Page 8 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 Page 9 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. continued... Page 10 Docusign Envelope ID: 7E723F51-E5C9-4F23-AAE6-65C761818318 ## **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. continued... Page 11 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|| continued... Page 12 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| continued... Page 13 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|| continued... Page 14 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. Page 15 continued... 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. Page 16