REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
A P A G B I LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
A P A G B I LIMITED |
A P A G B I LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 DECEMBER 2022 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 14 |
A P A G B I LIMITED (REGISTERED NUMBER: 05933974) |
REPORT OF THE TRUSTEES |
for the year ended 31 DECEMBER 2022 |
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 2022. 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 |
As per our governing document, the main purpose of the charity is to further the study of the science and practice of paediatric anaesthesia, and the proper teaching thereof, and towards this end: |
Organise regular scientific meetings. |
Promote original research in paediatric anaesthesia and encourage its presentation. |
Provide expert advice to other professional bodies and interested parties on matters pertaining to paediatric | anaesthesia. |
Encourage national and international links with like-minded groups. |
Collect and disseminate information regarding paediatric anaesthesia. |
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit. |
Significant activities |
We held the rescheduled annual scientific meeting (ASM) in Cardiff in May 2022, previously delayed due to the Covid-19 pandemic and subsequent restrictions. This attracted 216 paying delegates and received very positive feedback. We also provided a parent and baby facility for the first time. |
The rescheduled 2020 ASM is due to take place in London in May 2023. This will be our 50th ASM and is being held in conjunction with SPANZA, the Society for Paediatric Anaesthesia of New Zealand and Australia. There are already over 360 delegates registered to attend, including representatives from 17 countries. The focus, as per usual, will be upon education, the sharing of good practice and the presentation of research, and much of the content will be accessible after the event. |
The series of virtual educational meetings and monthly online tutorials have been phased out as physical meetings have been reinstituted, however the recorded material is still available to access via our website. The education and training committee lead has supported two educational webinars delivered in conjunction with the Association of Anaesthetists. |
We have continued to support the development of patient information resources, in conjunction with the Royal College of Anaesthetists as previously, and also in conjunction with the Beano; an online comic of Dennis the Menace undergoing a tonsillectomy was launched in 2022 and includes the full processes of preoperative preparation as well as the hospital events and recovery. This has proved very popular with children and families and has led to another related initiative which will be launched in 2023. |
During the year the various sub committees have continued to work to improve educational material, develop guidelines for better patient care and the Charity has also been able to advise other bodies about paediatric anaesthesia when requested. |
We have continued to support a small number of regional educational forums, trainee prizes and trainee grants for APLS. |
Grantmaking |
We have funds available for making research grants and participated in NIAA R2. Two projects were considered but the decision was made not to fund either in the current form. It is hoped we may be able to fund one in the next application round. |
One travel grant of £500 was made in support of an invited speaker to present work overseas. |
A P A G B I LIMITED (REGISTERED NUMBER: 05933974) |
REPORT OF THE TRUSTEES |
for the year ended 31 DECEMBER 2022 |
OBJECTIVES AND ACTIVITIES |
Volunteers |
The Charity benefits greatly from the involvement and enthusiastic support of its many volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. |
ACHIEVEMENT AND PERFORMANCE |
The Charity has held a variety of successful and well attended virtual scientific meetings and events at discounted costs, or free to delegates, and this received very positive feedback. The Charity continues to develop new educational material for paediatric anaesthetists to improve the education of trainee doctors, for revalidation for consultants and for the sharing of good practice. Some of the projects which were delayed by the pandemic have been revived. The Charity continues to contribute collective expert opinion when sought by the NHS and other organisations. |
FINANCIAL REVIEW |
Financial position |
The Charity's main source of income is membership subscriptions from its members which this year totalled £82,577 (2021 - £81,137) based on membership numbers of 1,077 (2021 - 1,049). |
During 2022, there has been one payment of £7,200 for the patient information resource aimed at the 6-10 years age group, in collaboration with the RCoA and the Beano comic.This involved the modernisation of existing resources into a digital cartoon based resource, which was deemed desirable by recent RCoA studies. Also, there was £1,345 spent providing medals for Jackson Rees Speakers and honorary members. Educational prizes were awarded to trainees totalling £550. |
Charitable donations were made in March to DECS (Ukraine appeal) and 2-Wish-upon -a Star in May, totalling £4,000. |
We continue to subscribe to the Journal of Pediatric Anaesthesia as a membership benefit which costs £10,000. |
A small number of regional meetings received support in the year. |
Reserves policy |
It is the Trustees policy to operate at a surplus each year, wherever possible, and to use these reserves to make grants or donations as approved by the Council. At the year end the Charity held £450,534 in unrestricted funds. |
FUTURE PLANS |
Going forward the Charity has reverted to holding physical Annual Scientific Meetings again, as before the Covid pandemic; the next will be the 50th Anniversary Meeting in London in May 2023 followed by Newcastle in 2024. The usual reduced rates for all members and early bookers will apply, and the recently introduced initiative of free registration for all delegates applying from countries defined as non-high income economies will continue. |
The free online trainee tutorials continued into the first half of 2022, and were phased out as face to face meetings were reinstituted. |
Support for regional meetings, whether physical or virtual will continue, as will provision of trainee prizes and educational grants for paediatric life support courses. |
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. |
A P A G B I LIMITED (REGISTERED NUMBER: 05933974) |
REPORT OF THE TRUSTEES |
for the year ended 31 DECEMBER 2022 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
Elected Directors (Trustees) will be elected by postal ballot and be directors of APAGBI. All bar the Trainee Member shall be elected from the Full Members and Honorary Members of APAGBI. The Trainee Member will be elected from amongst the Trainees Members of APAGBI. |
The Council will elect a President, a Secretary and a Treasurer, these will be known as "Special Office Holders". The President Elect, Immediate Past President, Immediate Past Secretary and Immediate Past Treasurer shall also be Special Office Holders. Special Office Holders shall also be Directors of APAGBI. |
If an Elected Director is appointed a Special Office Holder, he shall cease to be an Elected Director, but remains a Director of the Company and an election for a replacement Elected Director will be held in accordance with Article 9.6 of the Articles of Association. |
Organisational structure |
The board of trustees together with co-opted members and a lay person form the council of the charity. The members of the council meet quarterly and have responsibility for all strategic decisions of the charity. |
Induction and training of new trustees |
AAGBI run regular charity governance workshops, to which, all council members (Trustees), are invited. These are attended as and when necessary. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
A P A G B I LIMITED (REGISTERED NUMBER: 05933974) |
REPORT OF THE TRUSTEES |
for the year ended 31 DECEMBER 2022 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
Thomas Barrie & Co LLP |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
A P A G B I LIMITED |
Independent examiner's report to the trustees of A P A G B I Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022. |
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. |
Martin Greig BA CA |
Thomas Barrie & Co LLP |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
26 July 2023 |
A P A G B I LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
for the year ended 31 DECEMBER 2022 |
2022 | 2021 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities |
Other |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 469,956 |
A P A G B I LIMITED (REGISTERED NUMBER: 05933974) |
BALANCE SHEET |
31 DECEMBER 2022 |
2022 | 2021 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Investments | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 469,956 |
TOTAL FUNDS | 469,956 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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. |
A P A G B I LIMITED (REGISTERED NUMBER: 05933974) |
BALANCE SHEET - continued |
31 DECEMBER 2022 |
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 |
A P A G B I LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 DECEMBER 2022 |
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. |
The presentational and functional currency of the financial statements is Pounds Sterling (£) |
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
Going concern |
After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. |
Critical accounting judgements and key sources of estimation uncertainty |
In preparing these financial statements, the trustees are required to make judgements, estimates and assumptions that affect the application of the Charity's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
There are no significant judgements or estimates used in the preparation of these accounts. |
Fixed asset investments |
Investments are measured at fair value with changes in fair value recognised in profit or loss. |
Income |
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. |
Subscriptions |
Income from subscriptions are recognised in the period to which they relate. |
Delegate Income |
Delegate income in relation to the attendance at the Annual Scientific Meeting is recognised in the period in which the meeting is held. |
Grants |
Grants are recognised when the charity has been notified in writing of both the amount and settlement date. Grants are deferred if terms or conditions must be met before the charity has entitlement to the resources. |
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. |
A P A G B I LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 DECEMBER 2022 |
1. | ACCOUNTING POLICIES - continued |
Expenditure |
Grants |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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. |
Financial instruments |
The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances. |
Creditors |
Short term trade creditors are measured at the transaction price. |
Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
2. | OTHER TRADING ACTIVITIES |
2022 | 2021 |
£ | £ |
Sponsorships | - | 590 |
3. | INVESTMENT INCOME |
2022 | 2021 |
£ | £ |
Other fixed asset invest - FII | 156 | 655 |
Deposit account interest |
A P A G B I LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 DECEMBER 2022 |
4. | RAISING FUNDS |
Investment management costs |
2022 | 2021 |
£ | £ |
Portfolio management | 163 | 246 |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. |
Trustees' expenses |
2022 | 2021 |
£ | £ |
Trustees' expenses |
During the year, trustees received reimbursement of expenses for travel and accommodation costs where appropriate. |
In addition, the Charity received £1,203 in membership subscriptions from its Trustees. |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
Net gains on investments |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
A P A G B I LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 DECEMBER 2022 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
TOTAL FUNDS CARRIED FORWARD | 469,956 |
7. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
MARKET VALUE |
At 1 January 2022 |
Additions |
Revaluations | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 | 104,749 |
At 31 December 2021 | 97,636 |
There were no investment assets outside the UK. |
Cost or valuation at 31 December 2022 is represented by: |
Unlisted |
investments |
£ |
Valuation in 2021 | 1,111 |
Valuation in 2022 | (8,976 | ) |
Cost | 112,614 |
104,749 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
A P A G B I LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 DECEMBER 2022 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
Accrued expenses |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 469,956 | (19,422 | ) | 450,534 |
TOTAL FUNDS | (19,422 | ) | 450,534 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 160,631 | (171,077 | ) | (8,976 | ) | (19,422 | ) |
TOTAL FUNDS | ( |
) | ( |
) | (19,422 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.21 | in funds | 31.12.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 446,871 | 23,085 | 469,956 |
TOTAL FUNDS | 446,871 | 23,085 | 469,956 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 111,184 | (90,895 | ) | 2,796 | 23,085 |
TOTAL FUNDS | 111,184 | (90,895 | ) | 2,796 | 23,085 |
A P A G B I LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 DECEMBER 2022 |
11. | RELATED PARTY DISCLOSURES |
Other than expenses outlined in Note 5 to the Accounts, there were no related party transactions during the year. |