**COMPANY REGISTRATION NUMBER 02260991** **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** **(LIMITED BY GUARANTEE)** **FINANCIAL STATEMENTS FOR THE YEAR ENDED** **31 JULY 2020** **Charity Number 800238** Abbey House Hickleys Court South Street Farnham Surrey GU9 7QQ ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** |**CONTENTS**|**PAGE**| |---|---| |Trustees’ annual report|1 to 7| |Independent auditor’s report to the members|8 to 10| |Statement of financial activities (incorporating the|| |income and expenditure account)|11| |Balance sheet|12| |Cash flow statement|13| |Notes to the financial statements|14 to 21| ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2020** The trustees (who are also directors of the charity for the purposes of the Companies Act 2006), present their report and the audited financial statements of the charity for the year ended 31 July 2020. Legal and administrative information set out below and on page 2 form part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 2015). The trustees confirm that they have complied with the duty in s17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission, when reviewing the Charity’s aims and objectives and in planning future activities. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered Charity Name** The Association of Dental Implantology Limited **Charity Registration Number** 800238 **Company Registration Number** 02260991 (England and Wales) **Registered Office** Abbey House Hickleys Court South Street Farnham Surrey GU9 7QQ ## **DIRECTORS AND TRUSTEES** The trustees who served the charity during the year were as follows: Dr A Faqir Mr G Margaritis Ms E Keenan Dr Z Kanaan Mr A Patel Dr P George Miss J Wilson Mr A Byrne Professor N Donos Mr G Laffan Dr P Shenfine Dr A Ferhan (appointed 23 November 2019) Dr S Dattani (appointed 23 November 2019) Mr S Manjooran (appointed 23 November 2019) Dr A Mistry (appointed 23 November 2019) Mrs S Nelson (appointed 23 November 2019) Dr Z Sacranie (appointed 23 November 2019) Dr C Parker (resigned 23 November 2019) Dr S Jones (resigned 23 November 2019) Dr D Bingham (resigned 23 November 2019) Dr I Amrore (resigned 23 November 2019) Mr W Schaeffer (resigned 23 November 2019) Mr H Elassar (resigned 23 November 2019) **Executive Director** Dr T Hogan **-1-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2020** ## **Auditors** **Auditors** TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN **Bankers** National Westminster Bank Plc Richmond Branch 22 George Street Richmond Surrey TW9 1JW **Place of business** 20 Hill Rise Richmond Upon Thames London TW10 6UA ## **PUBLIC BENEFIT** ADI’s charitable objects as stated in its Articles of Association are “To advance education in the field of dental implantology for the benefit of the public”, and ADI has the following charitable purposes: - Advancement of education - Advancement of health or saving of lives ## _Advancement of health_ A dental implant is an artificial replacement for a tooth root, usually made from titanium. The main aim during the placement of any implant is to achieve immediate close contact with the surrounding bone. Over time further growth of bone onto the implant surface enhances the stability of the implant. In order to support replacement teeth, dental implants normally have some form of internal screw thread or post space that allows a variety of components to be fitted. Once fitted, these components provide the foundation for long-term support of crowns, bridges or dentures. Dental implantology is the field of dentistry covering the placement, restoration and maintenance of dental implants. It continues to gain recognition in mainstream dentistry as it is no longer acceptable for edentulous patients simply to be offered dentures to replace missing teeth, since for patients with broken or missing teeth dental implants can offer important advantages over dentures or bridges, such as prevention of bone loss and preservation of the facial structure. ## _Advancement of education_ ADI seeks to educate the public about the potential benefits of dental implants. ADI seeks to communicate with members of the public both directly and through the dental professionals which make up the ADI’s membership. The patient website www.consideringdentalimplants.co.uk was launched in January 2015, and the 16-page booklet ‘Considering Dental Implants? A Patient’s Guide to Dental Implant Treatment’, has been distributed widely in the UK (ADI was pleased to offer 50 free patient information leaflets to members in 2018). Members of the public regularly call the ADI office for information. **-2-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2020** In 2016, ADI Committee formed its Public Awareness Sub-committee, whose main remit is to develop and oversee programmes of activity that will increase awareness (by both the public and the dental profession as a whole) of dental implants as an alternative to other treatment options, and to increase understanding of the benefits of dental implantology. Every dental professional must be able to provide information to their patients on dental implants as a possible treatment option, and one of ADI’s key roles is to advance the education of dental professionals in the field of implant dentistry. As dental professionals increase their surgical skills and knowledge, patients will benefit with increased access to quality care at a local level. ADI contributes to education in the field by organising educational events (regional Study Clubs, Masterclasses, Focus meetings, Members’ National Forums and Team Congresses) and by facilitating mentoring through the ADI Register of Mentors. As a membership organisation, ADI provides a forum for discussion and sharing of information via the ADI Members’ Facebook Group. ADI’s events and other educational activities are discussed in the Activities section of the Trustees’ Report below. ADI is a totally impartial organisation, with no commercial allegiances, and hence ADI is respected as a source of unbiased information. ADI also acts as a portal to events and courses provided by other organisations through the online Events & Courses Calendar. Hence, in line with its charitable purposes, ADI advances health through its activities dedicated to advancing education for both the public and dental professionals in the field of dental implantology, as dental implants in many cases offer patients advantages compared to traditional methods of treatment. Through advancing education, ADI will contribute to increasing public awareness of the potential benefits of dental implants and to increasing the availability of dental implant treatment and the standard at which it is delivered. ADI Committee has regard to the Charity Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant. ## **IMPACT OF COVID-19 PANDEMIC** The Covid-19 pandemic has impacted on the activities of ADI, as noted in the sections below. In summary: - Events were cancelled/postponed, including the ADI Focus Meeting planned for 14 March 2020, which was cancelled the day before the event in response to the worsening Coronavirus position. - In person Study Club events have been replaced with Zoom webinars. - Committee met with greater frequency, but using Zoom rather than meeting in person. - ADI staff worked from home. - ADI cashed in half its investments to guard against potential future operational losses. Despite setbacks in 2020, ADI remains stable financially, with a strong membership base, and is looking forward to 2021 when it plans to restart its physical events and hold its next Team Congress. ## **GOVERNANCE** The ADI is administered by a nationally elected body of trustees (the Committee), all of whom are Dentists, Dental Care Professionals or Dental Technicians who have volunteered their time to meet regularly in order to develop and implement the strategy of the ADI. Normally, Committee meets four times per year. However, since the pandemic lockdown in March 2020, Committee has held more regular meetings using Zoom. This has proved to be an effective way for Committee to conduct its business. **-3-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2020** Committee has created the following sub-committees to assist with the development of its activities: Congress Sub-committee, Masterclasses Sub-committee, Study Clubs Sub-committee, Public Awareness Sub-committee, Guidelines Sub-committee and Membership Sub-committee. ADI Committee has formed a Working Party to formulate an ADI position statement on the subject of mentoring in dental implantology, which will be submitted for inclusion in the next revision of the FGDP(UK) “Training Standards in Implant Dentistry”. ## **ACHIEVEMENTS AND PERFORMANCE** ## **A) New ADI website/CRM system** Because of the impending closure of the ADI’s previous website host and developer, Canterbury Web, LightMedia Communications Ltd were appointed to develop a completely new website and membership/events management system for ADI. In March 2020, the ADI website was re-launched (see www.adi.org.uk). This is a significant investment for ADI, which will provide a platform for effective administration and enhanced member services and communication for many years to come. ## **B) ADI Dental Implant Placement Guidelines** Formally 'The Dental Implant Protocols' and available to members for purchase in print form, the updated document, renamed 'ADI Dental Implant Placement Guidelines', is now freely available in electronic format to members via the members’ area of the ADI website. The 42-page reference document comprises background information, examples of letters, medical and dental history questionnaire templates, and guidance on treatment planning, which can complement existing protocols and can be tailored to suit individual practices. It is not prescriptive, rather a collection of recommendations to promote best practice. ## **C) Mentor Register** The Training Standards in Implant Dentistry document published by FGDP(UK) in 2008 stated that "before undertaking implant treatment, a dentist should be familiar with the procedures involved in clinical assessment, treatment planning and the placement and restoration of implants in conjunction with an experienced mentor, as part of a training course in implant dentistry". With this in mind, the ADI recognised the need for an impartial mentor register available to dentists who wanted to embark on this ever-growing field of dentistry. This relationship between the mentor and mentee can be established, assisting the mentee in developing their skills as an invaluable stage in learning. It is an initiative that ultimately focuses on the delivery of quality care to patients. The ADI Register of Mentors was therefore established through which ADI is acting as a facilitator to enable members who wish to pass on their knowledge and clinical expertise to dentists who wish to extend their knowledge in dental implants. (ADI does not vet mentor applications and does not appoint or recommend mentors, and is not involved in any contractual or financial relationships between mentor and mentee.) The ADI Register of Mentors currently includes 100 mentors who are willing to provide mentor services. ## **D) Members’ Forum Facebook Group** The ADI Members' Forum Facebook Group, which was formed in April 2016 to provide a platform for ADI members to collaborate and discuss implant related matters, has become a very popular and active resource for members. A new Forum code of conduct was introduced in January 2020. **-4-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2020** ## **E) Study Clubs and Webinars** Study Clubs continue their pivotal role in the ADI’s meetings programme, and from January 2018 ADI Study Clubs became free for members to attend as part of the ADI membership package. Selected study club meetings have been livestreamed, with recordings made available to members via the ADI website. Unfortunately, owing to the Coronavirus pandemic, Study Club meetings arranged for mid-March to the end of 2020 had to be cancelled; however, since July 2020, ADI has run a well-received series of Zoom webinars, including a very popular ‘An Evening with the ADI Presidents’. It is planned to resume in-person Study Club meetings as early as possible in 2021. ## **F) Members’ National Forum** The biennial ADI Members’ National Forum provides members, both experienced and new to implantology, with the opportunity to present oral presentations on any implant related topic, including case studies, short research papers (including systematic reviews), audit, novel clinical ideas and useful adjuncts to clinical implantology. The event includes 24 presentations in two parallel streams. From the 2017 event the Members’ National Forum has been free for members to attend as part of the ADI membership package. The ADI Members’ National Forum 2019 was held on 23 November 2019 at the Royal College of Physicians in London, and was attended by 317 delegates. Full details of the meeting are available at https://www.adi.org.uk/events/495/members_national_forum_2019. ## **G) Masterclasses and Focus Meetings** Unfortunately, the ADI Focus Meeting ‘Medicolegal and Human Factors in Dental Implantology’ planned for 14 March 2020 had to be cancelled owing to the Coronavirus pandemic. For the same reason, regrettably it was not possible to plan an ADI Masterclass for November 2020. ## **H) Team Congresses** The biennial ADI Team Congress aims to involve and educate the entire dental implant team, with a high-quality scientific Plenary Programme and dedicated programmes for technicians, nurses/practice managers and hygienists/therapists, as well as a major Exhibition showcasing the latest technological developments. Following the huge success of the ADI Team Congress 2019 held at EICC, Edinburgh on 2-4 May 2019 (see www.adi.org.uk/events/congress19/), planning has proceeded for the ADI Team Congress 2021, to be held on 6- 8 May 2021 at Manchester Central. The 2021 Congress will be entitled ‘The Great Debate: Current Dilemmas in Dental Implantology’, with the following description: _‘The ADI Team Congress 2021 has brought world renowned speakers together to discuss and evaluate current dilemmas in implant dentistry. A unique mix of presentations, moderated discussions and debates, with evidence based as well as clinically based approaches, which will critically appraise emerging treatment concepts and techniques. This is a special event and a fantastic opportunity for the whole dental team to be part of The Great Debate.’_ Full details are available at https://www.adi.org.uk/congress21 **-5-** **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2020** ## **I) Membership** As of 31 July 2020, the ADI had 1997 members comprising: 1,368 Clinicians 56 Technicians 52 Technician laboratories 41 Companies 58 Nurses 56 Hygienists/Therapists 8 Practice Managers 35 First Five Years 298 Students 25 Honorary Students can join ADI free of charge, and a 50% discount is available for clinicians within their first 5 years of graduating. Free attendance at ADI Study Clubs and the Members’ National Forum is now included as part of the ADI membership package. In addition, from 2019 Clinician members and First Five Years members have received premium membership of Dentinal Tubules as part of their membership package; this was extended to DCP members during 2020. ## **J) Finances** There was an operating deficit of £125,289 in the 2019/20 financial year (2018/19 – surplus of £19,444). Careful financial stewardship over the years has enabled ADI to undertake a wide range of activities whilst developing sufficient financial reserves to plan for future Congresses, and to sustain the organisation in the long term should there be a downturn in income. The ADI Committee agrees that reserves of the order of £625,000 are required to underpin the Association’s activities over the next 5 years, to cover costs related to public awareness initiatives, future Congresses, premises and IT. ADI are currently meeting their reserves policy, which the Committee will review on an annual basis. As at 31 July 2020, the total unrestricted funds stood at £729,613 (2019 – £854,902), of which £648,477 are free reserves (2019 - £845,150). Specially appointed fund managers, who deal with charities, are overseeing the invested funds. Following a downturn in the markets at the start of 2020, and in discussion with its investments adviser, ADI Committee decided to convert half its investments into cash, to manage risks related to potential future market downturns and potential future decline in revenue from events and membership subscriptions. The value of the investments as at 31 July 2020 was £280,683. The investments are medium risk, and the funds can be accessed any time by the ADI. ## **K) Risk Assessment** The Committee regularly assesses the level of risk to which the organisation and its activities is exposed, taking remedial action as necessary. **-6-** **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 JULY 2020** ## **RESPONSIBILITIES OF THE TRUSTEES** The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources (including the income and expenditure) of the charitable company for that period. In preparing those financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2015 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditor is unaware; and - the trustees have taken all steps that they ought to have taken as trustees to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. This report, which has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, was approved by the board and signed on its behalf on 17 November 2020 Registered office: Signed by order of the trustees Abbey House Hickleys Court South Street Farnham Surrey GU9 7QQ Ms E Keenan President **-7-** **INDEPENDENT AUDITOR’S REPORT** ## **TO THE MEMBERS OF THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **OPINION** We have audited the financial statements of The Association of Dental Implantology Limited (the ‘charitable company’) for the year ended 31 July 2020 which comprise the Statement of Financial Activities (incorporating the Income and Expenditure Account), the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including 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). In our opinion the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 31 July 2020 and of its incoming resources and application of resources for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **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 are 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **CONCLUSIONS RELATING TO GOING CONCERN** We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: - the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. ## **OTHER INFORMATION** The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report, other than the financial statements and our auditors 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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. **-8-** **INDEPENDENT AUDITOR’S REPORT** ## **TO THE MEMBERS OF THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** _**(continued)**_ ## **OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Trustees’ Annual Report (incorporating the Directors’ Report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Directors’ Report (included within the Trustees’ Annual Report) has been prepared in accordance with applicable legal requirements. ## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION** In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption in preparing the Trustees’ Annual Report and from the requirement to prepare a strategic report. ## **RESPONSIBILITIES OF TRUSTEES** As explained more fully in the trustees’ responsibilities statement [set out on pages 7 - 8], 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. ## **AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** Our objectives are to obtain reasonable assurance 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. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilties. This description forms part of our auditors’ report. **-9-** **INDEPENDENT AUDITOR’S REPORT** ## **TO THE MEMBERS OF THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** _**(continued)**_ ## **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. Mark Cummins FCCA (Senior Statutory Auditor) For and on behalf of TC Group Office: Sussex Date: 15 January 2021 TC Group is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. **-10-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)** ## **YEAR ENDED 31 JULY 2020** |||**Total Funds**|Total Funds| |---|---|---|---| |||**2020**|2019| ||**Note**|**£**|£| |**INCOME AND ENDOWMENTS FROM:**|||| |Donations and legacies|**3**|**492,681**|478,030| |Charitable activities|**4**|**66,425**|756,245| |Investments|**5**|**12,200**|17,663| |||-----------------------------------------------------|--------------------------------------------------| |**TOTAL**||**571,306**|1,251,938| |||-----------------------------------------------------|---------------------------------------------------| |**EXPENDITURE ON:**|||| |Raising funds|**6**|**(10,062)**|(12,985)| |Charitable activities|**7**|**(639,617)**|(1,246,224)| |||---------------------------------------------------------|--------------------------------------------------| |**TOTAL**||**(649,679)**|(1,259,209)| |||-----------------------------------------------------|--------------------------------------------------| |Net (loss)/gain on investments|**16**|**(46,916)**|**26,715**| |||--------------------------------------------------|--------------------------------------------------| |**Net income/(expenditure)**||**(125,289)**|**19,444**| |||--------------------------------------------------|--------------------------------------------------| |**NET MOVEMENT IN FUNDS**|**18**|**(125,289)**|**19,444**| |||--------------------------------------------------|--------------------------------------------------| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||**854,902**|835,458| |||--------------------------------------------------|--------------------------------------------------| |**TOTAL FUNDS CARRIED FORWARD**||**729,613**|854,902| |||=**==================**=**================**|=**==================**=**================**| |**NOTE:**|||| |Total incoming resources||**571,306**|1,251,938| |Total resources expended||**(649,679)**|(1,259,209)| |||--------------------------------------------------|--------------------------------------------------| |**NET INCOMING/(OUTGOING) RESOURCES**|**BEFORE**||| |**MOVEMENT IN INVESTMENTS**||**(78,373)**|(7,271)| |||=**==================**=**================**|=**==================**=**================**| The Statement of Financial Activities includes all gains and losses recognised in the year. All funds in the current and prior year were unrestricted. All income and expenditure derives from continuing activities. **The notes on pages 14 to 21 form part of these financial statements** **-11-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **BALANCE SHEET** ## **31 JULY 2020** |||**2020**|2019| |---|---|---|---| ||**Note**|**£**|£| |**FIXED ASSETS**|||| |Intangible assets|**13**|**71,040**|-| |Tangible assets|**14**|**10,156**|752| |||--------------------------------------------------|--------------------------------------------------| |||**81,196**|752| |**CURRENT ASSETS**|||| |Debtors|**15**|**99,978**|111,089| |Investments|**16**|**280,683**|717,976| |Cash at bank||**513,341**|257,257| |||**--------------------------------------------------**|--------------------------------------------------| |||**894,002**|1,086,322| |**CREDITORS: Amounts falling due within one year**|**17**|**(245,585)**|(232,172)| |||**--------------------------------------------------**|--------------------------------------------------| |**NET CURRENT ASSETS**||**648,417**|854,150| |||--------------------------------------------------|--------------------------------------------------| |**TOTAL ASSETS LESS CURRENT LIABILITIES**||**729,613**|854,902| |||--------------------------------------------------|--------------------------------------------------| |**NET ASSETS**||**729,613**|854,902| |||=**===** **===============**=**===============**|=**==================**=**================**| |**FUNDS**|||| |Unrestricted general fund|**18**|**729,613**|854,902| |||--------------------------------------------------|--------------------------------------------------| |**TOTAL FUNDS**||**729,613**|854,902| |||=**==================**=**==================**|=**==================**=**==================**| These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small charitable companies and were approved by the members of the committee and are signed on their behalf on 17 November 2020 by: Ms E Keenan President Company Registration Number: 02260991 **-12-** **The notes on pages 14 to 21 form part of these financial statements** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **CASH FLOW STATEMENT** ## **FOR THE YEAR ENDED 31 JULY 2020** ||**2020**|2019| |---|---|---| ||**£**|£| |**Reconciliation of net (expenditure) to net cash flow from operating activities**||| |**Net income (as per the statement of financial activities)**|**(125,289)**|19,444| |**Adjustments for:**||| |Depreciation charges|**8,348**|4,217| |(Gains)/losses on investments|**46,916**|(26,715)| |Dividends and interest from investments|**(12,139)**|(17,235)| |Interest received|**(61)**|(428)| |(Increase)/decrease in debtors|**11,111**|(19,122)| |Increase/(decrease) in creditors|**13,413**|(15,680)| ||--------------------------------------------------|--------------------------------------------------| |**Net cash inflow/(outflow) from operating activities**|**(57,701)**|(55,519)| ||=**===** **===============**=**===============**|=**==================**=**================**| |**CASH FLOW STATEMENT**||| ||**2020**|2019| |**Cash flows from operating activities:**||| |**Net cash provided by (used in) operating activities**|**(57,701)**|(55,519)| ||**--------------------------------------------------**|--------------------------------------------------| |**Cash flows from investing activities:**||| |Interest received|**61**|428| |Dividends and interest from investments|**12,139**|17,235| |Proceeds from sale of investments|**471,293**|87,983| |Purchase of investments|**(80,915)**|(66,328)| |Payments to acquire tangible fixed assets|**(11,993)**|(859)| |Payments to acquire intangible assets|**(76,800)**|-| ||**--------------------------------------------------**|--------------------------------------------------| |**Net cash provided by (used in) investing activities**|**313,785**|38,459| ||**--------------------------------------------------**|--------------------------------------------------| |**Change in cash and cash equivalents in the reporting period**|**256,084**|(17,060)| |Cash and cash equivalents at the beginning of the period|**257,257**|274,317| ||--------------------------------------------------|--------------------------------------------------| |**Cash and cash equivalents at the end of the reporting period**|**513,341**|257,257| ||=**===** **===============**=**===============**|=**==================**=**================**| **-13-** **The notes on pages 14 to 21 form part of these financial statements** **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** ## **1. ACCOUNTING POLICIES** ## **a. Basis of accounting** The Association of Dental Implantology Limited is a charitable company registered in England and Wales. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office is Abbey House, Hickleys Court, South Street, Farnham, Surrey, GU9 7QQ. The financial statements have been prepared in accordance with 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 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Association of Dental Implantology Limited meets the definition of a public benefit entity under FRS 102. The financial statements are prepared on a going concern basis under the historical cost convention. After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This includes taking into account any potential impact of the COVID-19 pandemic. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. ## **b. Fund accounting** General funds are unrestricted funds, which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. ## **c. Incoming resources** All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: - Voluntary income is received by way of grants, donations and gifts and is included in full when receivable. - Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these financial statements. - Investment income is included when receivable. - Membership income received throughout the year is deferred by five out of twelve months as membership runs to December. - Money received for the biennial congress and any study courses which take place after the year end is deferred in order to recognise the income when the event takes place, and any associated prepaid costs are accounted for as prepayments. **-14-** **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** ## **1. ACCOUNTING POLICIES** _**(continued)**_ ## **d. Resources expended** All expenditure is accounted for on an accruals basis as a liability is incurred. Expenditure includes VAT, which cannot be recovered, and is reported as part of the expenditure to which it relates. - Costs of generating funds comprise the costs associated with attracting voluntary income. - Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. - Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity. - All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. ## **e. Intangible assets and amortisaton** Intangible assets are amortised on a straight line basis over their useful lives, which for the CRM and website is five years. ## **f. Tangible fixed assets and depreciation** Fixed assets are recorded at cost less accumulated depreciation. The costs of minor additions or those costing below £750 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life. The rates used are as follows: Fixtures, fittings and equipment at a rate to write off the value fully over four years on a straight line basis. ## **g. Investments** Stocks and shares quoted on a recognised stock exchange are included in the balance sheet at their midmarket value at the year end. The difference between market value and the original cost of the investments are shown as unrealised investment gains or losses on the Statement of Financial Activities. The difference between the Balance Sheet value and the proceeds of investments disposed of are shown as realised gain or loss on the Statement of Financial Activities. ## **h. Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **i. Cash at Bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **j. Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. **-15-** **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** ## **l. Operating leases** Rentals payable under operating leases are charged to income on a straight line basis over the term of the relevant lease. ## **2. ACCOUNTING ESTIMATES AND JUDGEMENTS** In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised. The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements. ## 3. **INCOME FROM DONATIONS AND LEGACIES** ||**Unrestricted**|**Total Funds**|Total Funds| |---|---|---|---| ||**Funds**|**2020**|2019| ||**£**|**£**|£| |Membership subscriptions|**492,681**|**492,681**|470,530| |Sponsorship|**-**|**-**|3,500| |Gifts & Donations|**-**|**-**|4,000| ||--------------------------------------------------|--------------------------------------------------|--------------------------------------------------| |Total|**492,681**|**492,681**|478,030| ||=**==================**=**================**|=**==================**=**================**|=**==================**=**================**| ## **4. INCOME FROM CHARITABLE ACTIVITIES** ||**Unrestricted**|**Total Funds**|Total Funds| |---|---|---|---| ||**Funds**|**2020**|2019| ||**£**|**£**|£| |Leaflets and Publications|**1,835**|**1,835**|2,765| |Exhibitions|**36,000**|**36,000**|326,455| |Meetings (Congress/Masterclasses/Study Clubs)|**28,590**|**28,590**|389,167| |Social Events|**-**|**-**|37,858| ||--------------------------------------------------|--------------------------------------------------|--------------------------------------------------| |Total|**66,425**|**66,425**|756,245| = **==================** = **================** = **==================** = **================** = **==================** = **================** ## **5. INVESTMENT INCOME** ||**Unrestricted**|**Total Funds**|Total Funds| |---|---|---|---| ||**Funds**|**2020**|2019| ||**£**|**£**|£| |Dividend income|**12,139**|**12,139**|17,235| |Interest income|**61**|**61**|428| ||--------------------------------------------------|--------------------------------------------------|--------------------------------------------------| |Total|**12,200**|**12,200**|17,663| ||=**==================**=**================**|=**==================**=**================**|=**==================**=**================**| **-16-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** ## **6. EXPENDITURE ON RAISING FUNDS** ||**Unrestricted**|**Total Funds**|Total Funds| |---|---|---|---| ||**Funds**|**2020**|2019| ||**£**|**£**|£| |Promotional cost|**1,067**|**1,067**|1,958| |Investment management costs|**8,995**|**8,995**|11,027| ||--------------------------------------------------|--------------------------------------------------|--------------------------------------------------| |Total|**10,062**|**10,062**|12,985| - = **==================** = **================** = **==================** = **================** = **==================** = **================** ## **7. EXPENDITURE ON CHARITABLE ACTIVITIES** ||**Unrestricted**|**Total Funds**|Total Funds| |---|---|---|---| ||**Funds**|**2020**|2019| ||**£**|**£**|£| |Venue|**43,735**|**43,735**|139,572| |Events|**32,068**|**32,068**|275,291| |Speakers|**10,746**|**10,746**|151,943| |Printing and Newsletters|**14,781**|**14,781**|47,516| |Journal|**67,206**|**67,206**|58,778| |Course Materials|**-**|**-**|13,680| |Exhibition|**-**|**-**|49,359| |Advertising and Marketing|**31,012**|**31,012**|61,501| |Development Costs (Logbook)|**2,226**|**2,226**|2,076| |Insurance|**3,245**|**3,245**|4,387| |Salaries and Wages|**201,472**|**201,472**|197,481| |Temporary Staff|**13,633**|**13,633**|10,652| |Telephone|**1,434**|**1,434**|2,517| |Postage and Stationery|**21,330**|**21,330**|24,086| |Website Maintenance|**19,974**|**19,974**|9,383| |Staff Recruitment|**-**|**-**|3,301| |Couriers and Taxis|**1,471**|**1,471**|2,391| |Sundry Expenses|**1,062**|**1,062**|57| |Staff Expenses|**27,214**|**27,214**|28,561| |Computer Costs|**21,478**|**21,478**|9,474| |Depreciation of Equipment|**2,588**|**2,588**|4,217| |Amortisation|**5,760**|**5,760**|-| |Office Costs|**65,846**|**65,846**|60,726| |Bank Charges|**2,139**|**2,139**|2,140| |Credit Card Charges|**1,056**|**1,056**|6,565| |Governance costs|**48,141**|**48,141**|80,570| ||--------------------------------------------------|--------------------------------------------------|--------------------------------------------------| |Total|**639,617**|**639,617**|1,246,224| - = **==================** = **================** = **==================** = **================** = **==================** = **================** **-17-** **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** ## **8. ANALYSIS OF GOVERNANCE COSTS** ||**Unrestricted**|**Total Funds**|Total Funds| |---|---|---|---| ||**Funds**|**2020**|2019| ||**£**|**£**|£| |Auditor’s fee|**3,705**|**3,705**|3,705| |Committee Expenses|**27,283**|**27,283**|33,154| |Legal and Professional fees|**17,153**|**17,153**|43,711| ||--------------------------------------------------|--------------------------------------------------|--------------------------------------------------| |Total|**48,141**|**48,141**|80,570| = **==================** = **================** = **==================** = **================** = **==================** = **================** ## **9. STAFF COSTS AND EMOLUMENTS** **Total staff costs were as follows:** |**Total staff costs were as follows:**||| |---|---|---| ||**2020**|2019| ||**£**|£| |Salaries and wages|**180,144**|176,480| |Social Security costs|**14,528**|14,339| |Pension costs|**6,800**|6,661| ||--------------------------------------------------|--------------------------------------------------| |Total|**201,472**|197,481| ||=**==================**=**================**|=**==================**=**================**| One employee received emoluments of between £60,000 to £70,000 (2019: one). The average number of contracted employees during the year, was as follows: ||**2020**||2019| |---|---|---|---| ||**No.**||No.| |Total||**5**|5| ||=**==================**=**================**||=**==================**=**================**| The total employee benefits (including employers’ national insurance) of the key management personnel of the charity was £75,233 (2019: £69,751). ## **10. TRUSTEE REMUNERATION AND EXPENSES** Expenses totalling £8,484 (2019: £8,702) were reimbursed to 13 (2019: 13) trustees. These represented payments for travel and subsistence to attend trustees’ meetings. No other trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2019: £nil). ## **11. RELATED PARTY TRANSACTIONS** There were no transactions with related parties during the year (2019: nil). ## **12. TAXATION** No corporation tax has been charged on the surplus for the year because the activities of the Association of Dental Implantology Limited are not liable to corporation tax. **-18-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** ## **13. INTANGIBLE ASSETS** |||**CRM and**| |---|---|---| |||**website**| |||**£**| |**COST**||| |Additions||**76,800**| |||--------------------------------------------------| |**At 31 July 2020**||**76,800**| |||=**==================**=**================**| |**DEPRECIATION**||| |Charge for the year||**5,760**| |||--------------------------------------------------| |**At 31 July 2020**||**5,760**| |||=**==================**=**================**| |**NET BOOK VALUE**||| |**At 31 July 2020**||**71,040**| |||=**==================**=**================**| |**TANGIBLE FIXED ASSETS**||| ||**Fixtures,**|| ||**Fittings and**|| ||**Equipment**|**Total**| ||**£**|**£**| |**COST**||| |At 1 August 2019|**19,647**|**19,647**| |Additions|**11,993**|**11,993**| ||--------------------------------------------------|--------------------------------------------------| |**At 31 July 2020**|**31,640**|**31,640**| ||=**==================**=**================**|=**==================**=**================**| |**DEPRECIATION**||| |At 1 August 2019|**18,895**|**18,895**| |Charge for the year|**2,588**|**2,588**| ||--------------------------------------------------|--------------------------------------------------| |**At 31 July 2020**|**21,483**|**21,483**| ||=**==================**=**================**|=**==================**=**================**| |**NET BOOK VALUE**||| |**At 31 July 2020**|**10,156**|**10,156**| ||=**==================**=**================**|=**==================**=**================**| |At 31 July 2019|752|752| ||=**==================**=**================**|=**==================**=**================**| **14. TANGIBLE FIXED ASSETS** **-19-** ## **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** ## **15. DEBTORS** |||**2020**|2019| |---|---|---|---| |||**£**|£| ||Trade debtors|**1,800**|-| ||VAT recoverable|**3,937**|15,412| ||Prepayments|**94,241**|95,677| |||--------------------------------------------------|--------------------------------------------------| ||Total|**99,978**|111,089| |||=**==================**=**================**|=**==================**=**================**| |**16.**|**INVESTMENTS**||| ||**Movement in market value**||| ||||**2020**| ||||**£**| ||Market value at 1 August 2019||**717,976**| ||Acquisitions at cost||**80,915**| ||Disposal proceeds||**(471,293)**| ||Profits on disposals||**69,503**| ||Unrealised gain/(loss) in year||**(116,418)**| ||||--------------------------------------------------| ||**Market Value at 31 July 2020**||**280,683**| ||||=**==================**=**================**| ||**Historical cost at 31 July 2020**||**220,014**| ||||=**==================**=**================**| |**17.**|**CREDITORS:** **Amounts falling due within one year**||| |||**2020**|2019| |||**£**|£| ||Trade creditors|**4,527**|-| ||Accrued expenses|**12,888**|30,819| ||Deferred income (see below)|**228,170**|201,353| |||--------------------------------------------------|--------------------------------------------------| ||Total|**245,585**|232,172| |||=**==================**=**================**|=**==================**=**================**| Deferred income comprises two aspects as follows: - a) advance sales relating to the 2021 Congress - b) Memberships are paid in advance in relation to the calendar year. Therefore membership income for the period 1st August 2020 to 31st December 2020 has been deferred. **-20-** **THE ASSOCIATION OF DENTAL IMPLANTOLOGY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 JULY 2020** ## **18. ANALYSIS OF CHARITABLE FUNDS** ## **ANALYSIS OF MOVEMENT IN UNRESTRICTED FUNDS** ||**Balance at**|**Incoming**|**Outgoing**||**Balance at**| |---|---|---|---|---|---| ||**1 August 2019**|**resources**|**resources**|**Transfers**|**31 July 2020**| ||**£**|**£**|**£**|**£**|**£**| |**_Unrestricted funds:_**|||||| |General fund|**854,902**|**571,306**|**(696,595)**|**-**|**729,613**| ||=**==================**=**================**|=**==================**=**================**|=**==================**=**================**|=**==================**=**================**|=**==================**=**================**| |**ANALYSIS OF MOVEMENT IN UNRESTRICTED FUNDS – Previous year**|||||| ||**Balance at**|**Incoming**|**Outgoing**||**Balance at**| ||**1 August 2018**|**resources**|**resources**|**Transfers**|**31 July 2019**| ||**£**|**£**|**£**|**£**|**£**| |**_Unrestricted funds:_**|||||| |General fund|**835,458**|**1,278,653**|**(1,259,209)**|**-**|**854,902**| ||=**==================**=**================**|=**==================**=**================**|=**==================**=**================**|=**==================**=**================**|=**==================**=**================**| All the charity’s funds are unrestricted and held in the general fund. ## **19. OPERATING LEASE COMMITMENTS** At the reporting end date the company had the following outstanding commitments for future minimum lease payments under non-cancellable operating leases: ||**2020**|2019| |---|---|---| ||**£**
|£| |Under one year|**35,799**|17,500| |Within two to five years|**54,545**|-| = **==================** = **================** = **==================** = **================** **-21-**