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COMPANY REGISTRATION NUMBER: 01970827
CHARITY REGISTRATION NUMBER: 294072
The British Association of Aesthetic Plastic Surgeons
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2021
The British Association of Aesthetic Plastic Surgeons
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2021
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
3
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6
Notes to the financial statements
7
The British Association of Aesthetic Plastic Surgeons
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021 .
Reference and administrative details
Registered charity name
The British Association of Aesthetic Plastic Surgeons
Charity registration number
294072
Company registration number
01970827
Principal office and registered
Royal College of Surgeons
office
Lincolns Inn Fields
London
WC2A 3PE
The trustees
S Hamilton
D Marsh
C O'Brien
M Pacifico
The charity is controlled by its governing document, a deed of trust, and constitutes a company, limited by guarantee.
Independent examiner
Hardcastle Burton
36 Dene Road
Northwood
Middlesex
HA6 2DA
Objectives and activities
Objectives and aims
The objects for which the Association is established are advancement of education in , and the practice of, Aesthetic Plastic Surgery for public benefit, in particular:
a) To promote an interchange of knowledge for the advancement of Aesthetic Plastic Surgery among suitably qualified surgeons.
b) To stimulate training in this aspect of Plastic Surgery among Plastic and Reconstructive surgeons and their trainees.
c) To ensure that Aesthetic Plastic Surgery remains a recognised and respected discipline.
Significant Activities
Educational courses are held regularly by the Association and meetings involving distinguished overseas speakers are organised and promoted. The main meeting in the year is the Annual instruction meeting.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Financial review
The charity made a surplus of £73,382, (2020:£59,696). Reserves stood at £270,431, (2020:£197,049).The charity maintains enough reserves to cover one year's overheads.
Plans for future periods
Other educational meetings and courses are scheduled for the coming year.
The trustees' annual report and the strategic report were approved on 5 August 2022 and signed on behalf of the board of trustees by:
S Hamilton
Trustee
The British Association of Aesthetic Plastic Surgeons
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The British Association of Aesthetic Plastic Surgeons
Year ended 31 December 2021
I report to the trustees on my examination of the financial statements of The British Association of Aesthetic Plastic Surgeons ('the charity') for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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 charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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 financial statements 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.
Independent Examiner
36 Dene Road Northwood Middlesex HA6 2DA
5 August 2022
The British Association of Aesthetic Plastic Surgeons
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2021
2021
2020
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Charitable activities
5
374,524
374,524
315,634
Investment income
6
602
602
694
---------
---------
---------
Total income
375,126
375,126
316,328
---------
---------
---------
Expenditure
Expenditure on charitable activities
7,8
301,744
301,744
256,632
---------
---------
---------
Total expenditure
301,744
301,744
256,632
---------
---------
---------
---------
---------
---------
Net income and net movement in funds
73,382
73,382
59,696
---------
---------
---------
Reconciliation of funds
Total funds brought forward
197,049
197,049
137,353
---------
---------
---------
Total funds carried forward
270,431
270,431
197,049
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The British Association of Aesthetic Plastic Surgeons
Company Limited by Guarantee
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
Fixed assets
Tangible fixed assets
12
30,645
34,133
Current assets
Debtors
13
126,912
89,214
Cash at bank and in hand
226,457
158,050
---------
---------
353,369
247,264
Creditors: amounts falling due within one year
14
111,024
80,866
---------
---------
Net current assets
242,345
166,398
---------
---------
Total assets less current liabilities
272,990
200,531
Creditors: amounts falling due after more than one year
15
2,559
3,482
---------
---------
Net assets
270,431
197,049
---------
---------
Funds of the charity
Unrestricted funds
270,431
197,049
---------
---------
Total charity funds
17
270,431
197,049
---------
---------
For the year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 5 August 2022 , and are signed on behalf of the board by:
S Hamilton
Trustee
The British Association of Aesthetic Plastic Surgeons
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Royal College of Surgeons, Lincolns Inn Fields, London, WC2A 3PE.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from meeting and training days is recognised in the year in which the events occur. - income from membership fees are recognised in the calendar year. This is classified as unrestricted funds .
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The charity is a company limited by guarantee.
5. Charitable activities
Unrestricted Funds
Total Funds 2021
Unrestricted Funds
Total Funds 2020
£
£
£
£
Subscriptions
286,851
286,851
277,210
277,210
Meeting income
83,566
83,566
5,600
5,600
Regional aesthetic meeting
2,480
2,480
10,290
10,290
Psychology course income
10,300
10,300
Other income
1,627
1,627
12,234
12,234
---------
---------
---------
---------
374,524
374,524
315,634
315,634
---------
---------
---------
---------
6. Investment income
Unrestricted Funds
Total Funds 2021
Unrestricted Funds
Total Funds 2020
£
£
£
£
Bank interest receivable
602
602
694
694
----
----
----
----
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2021
Unrestricted Funds
Total Funds 2020
£
£
£
£
Promotion of Aesthetic Plastic Surgery
167,510
167,510
141,996
141,996
Support costs
134,234
134,234
114,636
114,636
---------
---------
---------
---------
301,744
301,744
256,632
256,632
---------
---------
---------
---------
8. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2021
Total fund 2020
£
£
£
£
Promotion of Aesthetic Plastic Surgery
167,510
134,234
301,744
256,632
---------
---------
---------
---------
9. Net income
Net income is stated after charging/(crediting):
2021
2020
£
£
Depreciation of tangible fixed assets
13,238
8,865
Operating lease rentals
2,458
5,782
--------
-------
10. Staff costs
The average head count of employees during the year was 2 (2020: 2 ).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees;
No trustees have claimed expenses or had their expenses met by the charity.
12. Tangible fixed assets
Equipment
£
Cost
At 1 January 2021
61,860
Additions
9,750
--------
At 31 December 2021
71,610
--------
Depreciation
At 1 January 2021
27,727
Charge for the year
13,238
--------
At 31 December 2021
40,965
--------
Carrying amount
At 31 December 2021
30,645
--------
At 31 December 2020
34,133
--------
13. Debtors
2021
2020
£
£
Trade debtors
23,958
8,757
Prepayments and accrued income
66
Other debtors
102,954
80,391
---------
--------
126,912
89,214
---------
--------
14. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
19,584
11,153
Accruals and deferred income
24,203
7,126
Other creditors
10,737
10,737
Other creditors
56,500
51,850
---------
--------
111,024
80,866
---------
--------
15. Creditors: amounts falling due after more than one year
2021
2020
£
£
Social security and other taxes
2,559
3,482
-------
-------
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 11,136 (2020: £ 7,738 ).
17. Analysis of charitable funds
Unrestricted funds
At 1 January 2021
Income
Expenditure
At 31 December 2021
£
£
£
£
General funds
197,049
375,126
(301,744)
270,431
---------
---------
---------
---------
At 1 January 2020
Income
Expenditure
At 31 December 2020
£
£
£
£
General funds
137,353
316,328
(256,632)
197,049
---------
---------
---------
---------