REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
The Egyptian Medical Society (UK) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
The Egyptian Medical Society (UK) |
The Egyptian Medical Society (UK) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 | to | 8 |
The Egyptian Medical Society (UK) (Registered number: 06268147) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
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 January 2024. 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 |
For the benefit of the public generally and, in particular, the inhabitants of the United Kingdom and Egypt: |
1. To advance the education and training of medical professionals and health care personnel in general medical practice and related disciplines, with particular reference to those persons of Egyptian descent or origin; |
2. To promote research and report advances in all medical disciplines and to disseminate the results of such research beyond the charity for the improvement of the medical care of the public at large; |
3. To promote equality of opportunity and good relations between persons of difference nationality, race or ethnicity, in particular (but not exclusively) by the organization of social and cultural activities with other Arab associations in the United Kingdom, other Egyptian societies operation outside Egypt and with other medical authorities and inside organizations; |
4. To relieve persons in need, hardship or distress by such means as the trustees think fit; and |
5. To provide facilities and organism activities in the interests of social welfare, particularly for those persons of Egyptian descent or origin, with the objective of improving conditions of their life. |
Public benefit |
All our charitable activities focus on the education and training, research and reporting of medical care, relief of poverty, promotion of equality of good relations between different nations, races or ethnicity and various other activities. |
The trustees have given due consideration to the Charity Commission's published guidance on the Public Benefitrequirement under the Charities Act 2011. |
Grantmaking |
The charity collects general donations and is distributed in pursuance of the charity's objectives to support education and training, relief of poverty, promotion of equality of good relations between different nations, races or ethnicity's and various other activities. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The charity provides facilities and organizes activities in the interests of social welfare, particularly for those of Egyptian descent or origin, with the objective of improving the conditions of their life. |
Fundraising activities |
Once a year, the charity hosts an annual dinner event to raise donations to promote the research of medical care of the public at large, to advance the education and training of medical professionals and health care personnel in general medical practice, and to promote equality of opportunity and good relations between persons of different nationality, race or ethnicity. |
FINANCIAL REVIEW |
Principal funding sources |
The charity's main sources of income are collections of donations and membership fees from their members, as well as the general public. During the year, the charity received membership of £1,197 and donation of £10,000. |
Reserves policy |
The general reserve represents unrestricted funds reserve, that is maintained to cover expenditures on raising funds and charitable activities. |
Restricted fund reserves (if any) are held to be used within certain restrictions of the relevant funds. |
In setting up the Charity Reserve policy, the trustees have identified various unrestricted funds as detailed in the Statement of Financial Activities (SOFA). The restricted funds (if any) are distributed strictly in accordance with the religious restriction or other restrictions imposed on the relevant fund. |
FUTURE PLANS |
We aim to continue our work, expanding our activities, subject to the availability of resources and means. |
The Egyptian Medical Society (UK) (Registered number: 06268147) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006 and therefore is controlled by its article and memorandum of association. |
Recruitment and appointment of new trustees |
Trustees are appointed by resolution of the existing trustees. When a new trustee is so appointed, a memorandum of his appointment shall be prepared. Following the appointment, new trustees are introduced to their new role and given copies of the trust deed/articles of association and a guide to the policies and procedures adopted by our charity. Many publications from the Charity Commission are also provided including the guidance on charities and public benefit. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act. Initially, new trustees work with existing trustees assisting with particular activities and projects run by the Charity. After satisfactory feedback from existing trustees, they are then given the task of leading a particular activity or project and reporting progress at trustees' meetings. |
Organisational structure |
The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely & receive no remuneration or other financial benefits. The trustees meet together as a body and are responsible for all decisions taken in relation to the affairs of The Egyptian Medical Society UK Ltd in the United Kingdom. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
The Trustees examine the major strategic, business, and operational risks, which the charity faces regularly. The charity actively reviews the major risks that it faces on a regular basis and believes that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Approved by order of the board of trustees on |
The Egyptian Medical Society (UK) |
Statement of Financial Activities |
for the Year Ended 31 January 2024 |
2024 | 2023 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Voluntary Income | 2 |
Activities for generating fund | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 31,886 |
The Egyptian Medical Society (UK) (Registered number: 06268147) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
CURRENT ASSETS |
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 | 31,886 |
TOTAL FUNDS | 31,886 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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. |
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 |
The Egyptian Medical Society (UK) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
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. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
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. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | VOLUNTARY INCOME |
2024 | 2023 |
£ | £ |
Donations |
Membership fees | 1,197 | 1,020 |
3. | ACTIVITIES FOR GENERATING FUND |
2024 | 2023 |
£ | £ |
Function Income |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
The Egyptian Medical Society (UK) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
5. | SUPPORT COSTS |
Other |
£ |
Support costs | 2,703 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
7. | STAFF COSTS |
The average number of employees during the year was NIL (2023: NIL). |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestrict |
funds |
£ |
INCOME AND ENDOWMENTS FROM |
Voluntary Income |
Activities for generating fund |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 31,886 |
The Egyptian Medical Society (UK) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Merali's Accountants |
Accrued expenses |
10. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/2/23 | in funds | 31/1/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 31,886 | 4,227 | 36,113 |
TOTAL FUNDS | 4,227 | 36,113 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 20,550 | (16,323 | ) | 4,227 |
TOTAL FUNDS | ( |
) | 4,227 |
Comparatives for movement in funds |
Net |
movement | At |
At 1/2/22 | in funds | 31/1/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 38,411 | (6,525 | ) | 31,886 |
TOTAL FUNDS | 38,411 | (6,525 | ) | 31,886 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 8,164 | (14,689 | ) | (6,525 | ) |
TOTAL FUNDS | 8,164 | (14,689 | ) | (6,525 | ) |
The Egyptian Medical Society (UK) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
10. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1/2/22 | in funds | 31/1/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 38,411 | (2,298 | ) | 36,113 |
TOTAL FUNDS | 38,411 | (2,298 | ) | 36,113 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 28,714 | (31,012 | ) | (2,298 | ) |
TOTAL FUNDS | 28,714 | (31,012 | ) | (2,298 | ) |
11. | RELATED PARTY DISCLOSURES |