Charity Number: 313785
THE OSTEOPATHIC FOUNDATION
REPORT OF THE TRUSTEES AND UIYAUDITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023

THE OSTEOPATHIC FOUNDATION
FOR THE YEAR ENDED 31 MAY 2023
llYDEX
Page
Management and administrdtive inforn)ation
Report of the Trustees
Independent Examiner's report
Statcm¢nt of financial activitics
Stateinent of financial position
Notes to the Financial Statements
8- 14
Detailed statement of financial activities
15-16

THE OSTEOPATHIC FOUNDATION
lI￿NAGEMENT AND ADMINISTRATION INFORMATION
Name of charity:
The Osteopathic Foundation
Charity Number:
313785
Principal address:
Osteopathic Foundation
3 Park Terrace
Manor Road
Luton
LUI 3HN
Trustees
The trustees and officers serving during the year and since the year-end Trvere as follows=
Institute of Osteopathy
Secretary
Maurice Cheng
Senior tllanagement
Sitnon Fielding {Chairtnan, Osteopailiic Foundation)
Duncan Empey
Nadinc Hobson
Tiiii Allard}'cc
Kerstin Rolfe
Petcr Bro¥den
Obi Ha5san
Independent examiDer5:
UHY Hacker Young LLP
Quadrant14ouse
4 Thotnas Morc Square
London
Elw IYW
Solicitors:
Moira Prolani Ltd
72 Woodboiirne A venue
Brighton
BNI 8EJ
Advisers:
Investec Wealth & Investment
30 Gresham Street
London
EC2V 7QN

THE OSTEOPATHIC FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ETr4DED 31 MAY 2023
The Ostcopathic Fouiidation. prei'iously the Osteopathic Educational Foundation, was entrustcd to the care
of th¢ In5titutc of 0st¢opathy by th¢ Ostcopathic Educational Foundation Trust¢cs on 31 January 2017.
The Institute of Osteopathy is the cory)orate trustce of The Osteopathic Foundation and b}. agrecinent with tl)e
outgoiiig Osleopailiic FAluvalion Foundation trustees, the Council of tl)e Inslitute has appointed an
indepcndently cl)aired iiianagement board, The Osteopathic Foundation Board, to iiianage the affairs of the
charity. The Board have pleasur¢ in presenting their r¢port and the financial slal¢ineiils for the oharilw for th¢
year ended 31 st May 2023. The Board have adopted the provisions of Accounting and Reporting by Charities:
Statemenr of Re¢ommended Practic¢ applicable ro cliarities preparing tli¢ir a¢¢ounls in a¢¢ordance with the
Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102: effective l January
2015).
Objectives And activities
Objeclives and aims
The piirpose of the charity as set out in its governing docunient is to advance and promote the development
and education of the science and practice of osteopathy for the benefit of the public, in particular by..
(l ) Raising and administering fui)ds in order to assist and support all aspects of osteopathic education,
development. promotion. research and practice for the benefit of the public.
(2) Assisting, conferring and cooperating with any established osteopaihic organisalion or Government
Department to support and improve osteopathic education. development, promotion, research and
practice.
(3) Protnoting the development of better training and systems to improve the practice of osteopaihy.
The Board l)as considcred the Charity Comtllission's guidance on public benefit, including the guidance
'public bcn¢fit'. running a charity (PB2)'.
Social ini'eslmeiits
The Foundatioii dccidcd to place on hold the studcnt loan provision inh¢rited from the Ostcopathic Education
Foundation Trustee Board for this year until it investigates the best steps to Inaxitnise its impact to thi5
bcncficiary group. Tl)c Foundation hop¢s to offer the loans provision or soin¢thing siinilar again next year.
Grant-making
Th¢ Osteopaihi¢ Foundation board has developed ali initial core strategy centr¢d on the funding of r¢search
and educational prograii)ii)es. By Il)e end of the financial year 2021122, there was one successfully
completed aiid closed grant, willi t¢n grants remaining live and in maiiageinent. In comparison, there were
three successfully completed and closed grants and nine remaining live at the end of the 202212J financial
year.
A¢hievements and performance
The results of the three projects successfully closed this year show that good investment has been made by
the Foundation to advance the protession, Ivith results continuing to be disseminated and shared widelN'.
One of the research siiidies investigated hoi¥ mild head injuries among rugby players can cause functional
and neurological changes in the brain.
The Foundation is now funding NCOR to develop a Practice-Based Research Network named POWER
(Patients and Osteopaths Working together to Enhance Research). This will bring together the profession to
look at best practices. Students experiencing financial hardship were also supported by the foundation
through several small grants.

THE OSTEOPATHIC FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ETr4DED 31 MAY 2023
Our objectives remain thc same, natnely the advancetnent of ostcopathy in the public interest, through
funding projccts that coiitributc to ¢ducation and to rcs¢arch, that promotes th¢ prof¢s510ll.
FOllo￿.ing thc receipt of thrce largc donations ill the )'ear to May 2022 w¢ have seen some rcduction in
donations for this financial year. There are plans hO￿.¢￿er in the next financial year to move fomard with
fundraising activities to incre&se donations to tlie cl)arity ill the future. A further donation of £70,000 was
received from tlie Dr Ratcliffe Suholarship Fund meaning we have now re¢eived £1 13,000 in total. Regular
small donations continue to be received via Eas)'fundraising and our advert in rhe Law Societ! has been
renewed for anoiher year.
With the Continued support and d¢di¢alion of th¢ Trusl¢¢s and staff team, we look forward to the Ost¢opathi¢
Foundation strengthening its position as a driving force for the profession.
Inve.glmekil i?erforiKance
The turbulence in the economy during and since Covid caused a downturn in the market resulting in both a
loss in value of the investment porttolio, and on sale of investments however there seems to be some recovery,
with an annual return betii'een January and May 2023 of 2.6 % and no particular concerns reported by Investec.
The year-end valuation of the fund was £2,978,912.
Fillaneial revieiv
Reserves andreservespolicy
The Accumulated Fund of the Osteopathic Foundalion, comprising principally the investment portfolio. is
regarded by the Trustee as the "pcrmancnt endowtnciit" of thc Charity. Hithcrto, the Trustcc has rcgarded
thc und¢rlyin¥ invcsttllciit portfolio, augmcntcd frotll time to timc by Icgaci¢s and doiiations, as providing a
Fund, tlie net incotne of which can be used to provide grants for osteopathic education pury)0ses and
rcscarch.
Up until 2000, the Ostcopatliic Education Foundatioii proN'ided, iii the maiii, grants to ostcopat])ic studcnts
to ¢nablc th05c who could not othcrwi5c fund thcir training to do so. After 2000, the 05t¢opathic Education
Foundation changed its policy to preserve its endow'tnent and, in addition to providing research grants,
utili5cd sub5tantiallv all it5. lict incom¢ in building up a loan portfolio. tlic stud¢nt loaiis of wliich werc to be
rcpayablc over a pcriod not cxcccding five ycars, following the successful conipletion of training.
Toral resetwes as of 31 Ma), 2023 ainouiiled to £3,149,186 {2022.. £3,316,838) with net loss for rhe period of
(£167,652) (2022: £245,279).
Structurei governance and management
Governing docum¥p71
The charity is ¢ontrolled by ils goveming document, a deed of trust, and ¢onstilules an unin¢orpornted ¢harily.
The charitv is organised $0 the Trustee and its members meet regularly to manage its affairs. The day to day
administration is managed by The Ost¢opathi¢ Foundation Project Manager.
The Trustee regularly identifies and reviews the risk to which the charity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and error. The principal risk's faced by the
charity lie in the performance of investments and operational risks from the inappropriate advancement of
loans and making of grants. The risk variabilit}, in investment returns is mitigated by the retention of expert
investment managers as custodians and advisors of a diversified portfolio of investments.

THE OSTEOPATHIC FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MAY 2023
Recruitment and appoip7lmenl ofirustee
The Ostec)pathic Foundatic)n Board was appoiiited thrc)ugh open advertisement, with the pr()c¢ss being
ovcrsccn by the Institutc of Ostcopath}' Appointmcnts Comiiiitt¢¢, with four lay mcmbcrs (with strong
healih backgrounds), one of wliom is Chair, and iliree osteopaths. The Chair left the Foiindation in April
2023. A new Chair was appointed in May 2023.
This reporr was approved by Ihe Board of Tn]stees and signed on their behalf by..
g_7
Simon Fielding
For the Institute of Osteopathy
29 September 2023
Dale..

INDEPENDENT EXAMINER'S REPORT
TO THE OSTEOPATHIC FOUP4DATION
I report to the trustees on my examination of the accounts of Th¢ Osteopathi¢ Foundation (the charity) for th¢
year end¢d 31 May 2023. wliich are set out on pages 6 to 14.
Responsibilities and basis of report
As the charity trustee, you are responsible for the preparation of the accounts in accordance with the
requireinents of the Charities Act 2011 ("the Act").
I report in respect of my examination of tlie charity's accounts carried out under section 145 of the 201 l Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Comtnission under section 145(5)(b) ot tlie 201 l Act.
Independent examiner's statement
I have completed my examination. I confirtn that no material tnatters have come to tlly attention in connection
with the cxaminatioii giving mc cause to bcli¢v¢ that in any material rc5PCCt=
accounting rccord5 wcrc not kept in rcspcct of th¢ charity as rcquircd by section 130 of th¢ Act- or
2. ti)e accounts do not accord with those records; or
the accounts do not coinply with the applicable requireinents concerning the form and content of
ac¢ounts ser out in the Charities (Accounts and Reports) Regulations 2008 other Ilian an! r¢quireinent
Il)at the accounts give a 'true and fair view, which is not a inatter considered as part of an independent
examination.
J have no eoncems and hav¢ ¢oine across no other matters in ¢onne¢tion with th¢ examination to whi¢h
attention sliould be draivn in this report in order to enable a proper uiiderstanding of the a¢eounls to be r¢a¢h¢d.
-00
Harriet Hodgson-Grove ACA
UHY Hackcr Young LLP
Independent Examiner
Quadrant House
4 Thomas More Square
London
EIWIYW
Date=
29 sep.tember 2023

THE OSTEOPATHIC FOUNDATION
STATEMENT OF FINANCL4L ACTIVITIES AND COMPREHENSTrT INCOME
FOR THE YEAR ENDED 31 MAY 2023
Year ended
31 May 2023
Year ended
31 May 2022
Notes
Unrestricted ineome and endowments from:
Donations and legacies
Investments
Otlier income
71,092
55,026
415,792
48,927
25
Total unrestricted income and endowments
126,118
464,744
Expenditure on:
Charitable activities
(222,575)
(169.455)
Total expenditure
(222,575)
(169,455)
Net unrestricted (105ses)Igaiiis on iiivesttnents
{71,195)
{50.010)
Net {loss)lincome
(167,652)
245.279
Reeonciliation of funds
l otal funds brought forward
3,316,838
3,071,559
Total unre$trieted funds carried forward
3,149,186
3,316,838

THE OSTEOPATHIC FOUNDATION
STATEMENT OF FINANCL4L POSITION
FOR THE YEAR ENDED 31 MAY 2023
31 May
2023
31 Mxv
2022
Notes
Fixed assets:
Investments
10
2,978,912
2,845,798
2,978,912
2,845.798
Current assets:
Cash at bank and in hand
194,779
505,330
194,779
505,330
Creditors: amounts falling due within
one year
14
(24,505)
{34,290)
Iyet current assets
170,274
471,040
Total assets less current liabilities
3,149,186
3,316,838
Net a$sets
3,149,186
3,316.838
The funds of the eh#rity
Unrestricted income funds
16
3,149,186
3,316,838
3,149,186
3,316,838
Th¢ finan¢ial statements wer¢ approv¢d and authorised for issue by the Board and signed on its behalf by..
Simon Fielding
For t]ic Iiistitutc of Osteopathy
Date:
29 September 2023

THE OSTEOPATHIC FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
Accounting policies
Charity information
The Osteopathic Foundation is a charit! registered in England and Wales and govemed by their
charity commission scheme dated 24 October 1996.
Basis of aecounting
The tinancial statements have been prepared under the historical cost convention, except for the
investments which are included at market value and the revaluation of certain fixed assets and in
accordance with the Charities SORP {FRS 102) "Accounting and Reporting by Charities.. Statement
of Recoinmended Practice applicable to charities preparing their accounts in accordance with the
Financial Rcportin¥ Standard applicable in tlic UK and Rcpublic of Ireland (FRS 1021, Financial
Reporting Standard 102 t]ie Financial Rewrting Standard applicable in the UK and Republic of
Ircland (FRS 102) and the Charities Act 2011.
The Osteopathic Foundation Inects thc definition of a public benefit cntity undcr FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy note(s).
Comparative period
The coinparative period is the 12 months to 31 May 2022.
Statement of cash flows
Tlie trustees have taken advantage of the exemprion iii SORP FRS 102 from including a cash flow
statement ii) the finaiicial statements on the groui)ds that the charity is small.
Incoming resources
All in¢oming r¢soiir¢es are incliided in the qlalenient of financial a¢tivilies when the charity is entitled
to the in¢oiii¢ and the ainounl can be quantified with reasoiiable acciiracy.
Resources expended
Liabilities are recognised as resolirces expended when there is a legal or constructive obligation
committing the charity to the expenditure.
Investments
Investments in listed securities (where shares are publicly traded or their fair value is reliably
measurable) are measured ai fair value through protit or loss. Where fair value cannot be measured
reliably, investments are measured at cost less impaim)ent.

THE OSTEOPATHIC FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
Social investments
Programme related investments are shown at cost, less provision for impairment.
Income from donations and legacies
Year ended
31 May 2023
Year ended
31 May 2022
Unrestricted funds
Donations received
Legacies received
71,058
34
415,367
425
71,092
415,792
Investment income
Year ended
31 May 2023
Year ende(I
31 May 2022
Ullro8tricted funds
Dividcnd iiicoillc frotll listed invcsttncnts
Bank intcrcst reccivable
Othcr intcr¢st ￿¢¢ivable
50,881
45,766
34
3,127
4,034
55,026
48,927
Other income
Year ended
31 May 2023
Year ended
31 May 2022
Unrestricted funds
Other
25
25

THE OSTEOPATHIC FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
Costs of charitable activities by fllnd type
Year ended
31 Lwlay 2023
Year ended
31 M¥Ay 2022
Unrestrieted fllnds
Direct costs
Sup]N)rt costs
93,630
128,945
I10,?04
222,575
169,455
Costs of charitable activities by actI￿ty type
Year ended
31 Mav 2023
Year ended
31 May 2022
Activities undertaken directly
Education
93,630
59,251
93,630
59,251
Analysis of support costs
Year ended
31 May 2023
Year ended
31 May 2022
Gov¢rnanc¢ costs
128,945
110?04
128,945
110,204
Net income for the year after ¢barging
Yeiir ended
31 Lllay 2023
Yeiir ended
31 May 2022
Independent examiner fees
Financial advice
Write off of irrecoverable debts
4,560
20,874
3,500
21,091
6.204
Comparative for the Statement of Fillancial Activities
Thc comparativc y¢ar values on thc Statcmcnt of Financial Activitlcs for unrestrictcd funds.
10

THE OSTEOPATHIC FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
10.
Investment$
2023
2022
Note
Listed investments
Social investments
2,876,599
102,313
2,717,900
127,898
13
2,978,912
2,845,798
Analysis of movement of eommereial investments
Listed
Investments
2U23
Market value at l June 2022
2,717,900
Additioiis to investment at cost
Disposals at carrving value
Nct loss on rcvaluation
1,041,999
(817.332)
{65,968)
Market value at 31 May 2023
2,876,599
Comparative analysi$ of movement of commercial investments
Listed
Investments
2022
Market value at l June 2021
2,647,823
Additions to investment at cost
Disposals al carrying value
Net loss on revaluation
913,783
(798,368)
(45,338)
Markel value at 31 May 2022
2,717,900

THE OSTEOPATHIC FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
12.
Analysis of investments between funds as at yekir ended 31 May 2023
2023
2022
Unrestrieted fllnds
Listed investments
2,876,599
2,717,900
2,876,599
2,717,900
13.
Analysis of movemellt of social investments
Programme
related
investments
2023
At l Jun¢ ?02?
Loans provided in the year
Loan repa)'ments in tl)e year
Writ¢ off irrecoverabl¢ loans
127,898
(25,585)
At 31 May 2023
102,313
Comparative analysis of movement of Social investments
Pro2ramme
related
investments
2022
At l June 2021
Loans pro￿]ded in the year
Loan repay'ments in the year
Write off irrecoverable loans
148,644
24,500
(39,042)
(6,204)
At 31 May 2022
127,898
Conc¢ssionary loan5 that wcrc proi'idcd to metnbers of thc Ostcopathic profession to further their
education i*ere granted intcrest free loans repayable within 5 years bcginiiiiig a year follois'in¥ their
graduation.
12

THE OSTEOPATHIC FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
14.
Creditors: amollnts falling dlle within one year
2023
2022
Unrestrieted funds
Trade creditors
Accruals
6,477
18,028
15,321
18,969
24,505
34,290
15.
Financial instruments
Carrying amount of financial assets:
Debt instruments tneasured at amortised cost
Instrumcnts mcasurcd at fair valu¢ through profit or loss
297,092
2,876,599
633,228
2,717.900
Carrying amount of financial liabilitie5:
Measured at amortised cost
24,505
16.
Movement in funds
Unrestricted fundy
Balance at
l June
2022
Ineoming
re$ource$
Olltgoing Gains lind
re$our¢es
losse$
Balxnee at
31 May
2023
General
3,316,838
126,118
(222,576)
{71,195}
3,149,186
3,316,838
126,118
(222,576)
(71,195)
3,149,186
Comparative unrestricted funds previous period
Balance at
l June
2021
Incoming
resources
Olltgoing Gains and
resources
losses
Balanec at
31 Ma).
2022
General
3,071,559
464,744
(169,455)
(50,010)
3,316,838
3.071,559
464,744
(169.455)
{50,010)
3,316.838
13

THE OSTEOPATHIC FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
17.
Purpose of unreslrieted funds
The adN'ancement and promotion of the development of and education in the science and practice of
Osteopathy for the benefit ot the public.
18.
Analysis of net assets between funds
Investments Net eurrent
assets
Net iissets
Unrestricted funds
General
2.978,912
170,274
3,149,186
2,978,912
170,274
3,149,186
Inve5tment5 Net current
a5set5
Lyet assets
Comparative unrestricted funds previous year
General
2,845,798
471,040
3,316,838
2,845,798 471,040
3,316,838
19.
Tru$teeslmembers expenses
Expenditure for members of The Osteopathic Fouiidations Board were met in the year totalling £2,475
(2092: £144). No members of the Board w¢re r¢inun¢raled.
20.
Related party tran$aetion$
During lh¢ prior year ¢osls in r¢lalion lo his PhD for Austin PlunketL a dire¢lor of the ¢ompany,
previously approi'ed by the Osteopathic Foundation Board, ￿'ere paid for by the Osteopathic
Foundation which amounted to £20,000 in total. There were £Nil payments tor such in the year ended
31, Ma! ?023. Further to this, The Institute ot Osteopathy is the sole TNstee of the charity and have
charged secretariat fees to The Osteopathic Foundation of £54,000 (2022.. £54,000) for the
administration ot the charity throughout the year. The Institute of Osteopathy also charged The
Osteopathic Foundation £30,338 (2022.. £19,675) for project management fees.
21.
Pos¢ balance sheet events
Following a review by HMRC in relation to the VAT supply iEtween the Institute of Osteopathy
'iO" the tru5teel and the Osteopathic Fouiidation ("OF") there lias been a V A T ruling that tlie OF is
not a legal cntity. and thcrcforc no supply cxists bctwcen thc io aiid thc OF. Any char¥¢s bctwccii
thein is seen merely froin a V AT persP¢Ctive as the tlloveinent of funds within the same entity.
The io hav¢ bccn authoriscd to submit an crror co￿tCtIon noticc to rcclaim VAT paid on invoices by
the OF to HM RC from 2017 to date, ￿,1]1¢h will then be reimburscd to the OF. This is expected to be
iii th¢ ￿gIOn of £78,000.
14

THE OSTEOPATHIC FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MAY 2023
2023
2022
Ineome and endowment
Donations and legaeies
Donations
Legacies
71,058
34
415,367
425
71,092
415.792
Investments
Income from listed investments
Bank interest receivable
Other interest receivable
50,881
45,766
34
3,127
4,034
55,026
48,927
Other income
Fees
25
Total incotlling resources
126,118
464,744
Expenditure
Charitable actiirytie5
Bad dcbt cxpcns¢
Grants
(6,204}
{53,047)
{93,630)
{93,630)
(59,251)
Support costs
Governance costs
A¢¢ountan¢y f¢¢s
Investment management fee
Legal fees
Cost of trustees, meeting
Other costs
Secretariat (Institute of Osteopathy)
{6,J60)
(20,874)
{6,J74)
(? 475)
(8.524)
(84,338)
(4,718)
(21,091)
(5,533)
{144)
(5,043)
{73,675)
(128,945)
(110,204)
Totydl resources expended
(222,575)
(169,455)
15

THE OSTEOPATHIC FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MAY 2023
2023
2022
Net ineomel(loss) before gains and losses
(96,457)
295289
Other reeognised gains and losses
(Lossyoain on revaluation of investments
(Lossygain on disposal of commercial investments
{65,968)
(5.227)
{45,338)
(4,672)
(71,195)
(50,010)
Net Gainl{iA*ss)
(167,652)
245,279
16