The Society Of Musculoskeletal Medicine - Charities report

REGISTERED COMPANY NUMBER: 01700787 (England and Wales)

REGISTERED CHARITY NUMBER: 802164

Trustees' Report and

Unaudited Financial Statements for the Year Ended 31 December 2025

for

The Society Of Musculoskeletal Medicine

(A Company Limited by Guarantee)

Page

Reference and Administrative Details

1

Trustees' Report

2

to

5

Independent Examiner's Report

6

Statement of Financial Activities

7

Balance Sheet

8

to

9

Notes to the Financial Statements

10

to

15

TRUSTEES

L Entwistle Chartered Accountant

E L Atkins Physiotherapist

G Cameron Medical Practitioner

G Hebenton Chartered Physiotherapist

J Neilson Health Care Manager

D A Reid General Practitioner

J P Smith Physiotherapist

N Worth Physiotherapist

REGISTERED OFFICE

Somm 4th Floor

151 Dale Street

Liverpool

L2 2AH

REGISTERED COMPANY
NUMBER

01700787 (England and Wales)

REGISTERED CHARITY
NUMBER

802164

IINDEPENDENT EXAMINER

Peter Wilson FCA

Rockfield Business Centre

512 Darwen Road

Bromley Cross

Bolton

BL7 BDX

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 2025. 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 activities

The Society of Musculoskeletal Medicine (SOMM) - formerly the Society of Orthopaedic Medicine - is an educational charitable company that was formed in 1979 to develop the seminal work of Dr James Cyriax MRCP and to promote the theory and the practice of musculoskeletal medicine.

SOMM provides a comprehensive programme of post graduate courses for physiotherapists and doctors that run primarily throughout the UK but invitations further afield are always considered and courses in Europe and South East Asia have been delivered in the past.

The Society has a committed team of tutors who have many years of experience practicing musculoskeletal medicine in many different arenas - NHS, sport, private practice and the armed forces. This brings diversity and interest in the courses and ensures a stimulating and varied learning experience.

The main objective of the Society during the past 12 months has been to sustain our ability to provide high quality musculoskeletal medicine training to result in better medical treatment for patients.

Our strategy has continued to focus on the need to strengthen our existing offering to current markets, in particular our international courses and our injection therapy courses

Public Benefit

The objects for which The Society of Musculoskeletal Medicine has been established are:

To benefit the public through the promotion and advancement of musculoskeletal medicine.

We will provide education to facilitate the practice, study and publication of research within this field.

The trustees have paid due regard to the Charity Commission guidance on public benefit in deciding SOMM activities to be undertaken and have only pursued activities with a public benefit outlined below.

The core activity of the Society is the teaching of musculoskeletal medicine through Foundation course modules, which aim to provide students with a practical approach to the clinical diagnosis and treatment of musculoskeletal conditions.

The outcome is a public benefit through being diagnosed or treated by medical practitioners or allied health professionals that are trained in SOMM principles and subsequently have confidence to practise this important area of medicine.

There is public benefit gained through sharing knowledge in this way so that patients receive the best possible diagnosis and treatment from fully informed doctors and allied health professionals.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During 2025, SOMM continued to strengthen its educational delivery and tutor support structures. A Chair of Education was formally appointed, reinforcing our commitment to high quality teaching, improved academic governance, and enhanced support for our tutor team. This appointment also helped us stabilise teaching capacity following the loss of several experienced tutors.

Across the financial year, the Society delivered 11 Foundation Courses, training 175 students. A further 67 students completed the Theory and Practice of Injection Therapy module, while 45 students attended the Injection Therapy CPD Update Day.

In total, 297 students received SOMM training during 2025.

FINANCIAL REVIEW

Financial review

Total income for the period was £228,114 (2024: £281,704).

Total expenditure for the period was £254,197 (2024:£274,289).

The net loss for the year prior to gains and losses on investments was £26,083 (2024: gain £7,415). Gains on our investments of £23,741 during the year (see note 9) meant that our final position was a loss for the year of

£2,342 (2024 gain for the year of £19,440 following gains on investments of £12,025).

At the end of 2025 the fixed asset investments were valued at £213,531 (2024: £228,790) this is after a cash withdrawal from the investment fund of £39,000 in October 2025 (see note 9).

The Society has a current bank account which at the year-end totalled £29,251 (2024: £37,088).

Investment policy

£213,531 is held in a broad range of investment funds, with an overarching conservative objective in order to minimise risk and safeguard the funds.

Quilter Cheviot is the appointed investment advisor, and they manage SOMM funds on a discretionary basis. This enables an improved speed of decision-making as the appointed investment managers are authorised to move funds according to market conditions.

The Council has requested that portfolio of investments be managed cautiously, within agreed parameters.

The Society Manager and Treasurer receive regular investment performance reports from Cheviot Asset Management, and can access real time valuations at any given juncture

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Risk Policy

The Council undertakes an annual review of the key risks facing the organisation. The main risks identified include:

- Dependency on key funders, NHS budget pressures, and the possibility of not meeting income targets

- Dependency on key personnel, highlighting the need for robust succession planning

- Potential decline in course bookings or failure of the course programme

- Poor investment performance

Measures implemented during the year to mitigate these risks include:

- Positioning our education programme to support NHS priorities in the management of musculoskeletal conditions

- Strengthening academic leadership through the appointment of a Chair of Education

- Maintaining our relationship with our investment manager, who acts on a discretionary basis within agreed parameters to optimise investment decisions

- Ensuring strong control systems remain in place for HR, legal, IT, and Health & Safety compliance

All risks continue to be reviewed annually to ensure appropriate mitigation and oversight.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure, governance and management

The organisation is a charitable company; limited by guarantee (registered in England and Wales No.01700787) originally formed in 1979 and was incorporated on 11th January 1983. The company was established under a Memorandum of Association, which established the objects and powers of the company and is governed by its Articles of Association.

The charitable company was registered with the Charities Commission (registered number 802164) on 17th January 1990 as a charity for the benefit of the public in relieving sickness by promoting and advancing the use, study and science of orthopaedic medicine and by providing facilities for treatment, education, study and research therein.

The charitable company changed its name from The Society of Orthopaedic Medicine on 21 January 2013.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Dr E L Atkins MBE

Dr D A Reid

Dr G Cameron

Mr G Hebenton

Mr N Worth

Mr L Entwistle

Mr J P Smith

Mrs J Neilson

Members of the Council are elected/re-elected at the Annual General Meeting by the membership.

According to SOMM's constitution, 1/3 of elected Councillors will retire by rotation at each Annual General

Meeting, with those that have been longest in office being first to retire. Officers of the Society are exempt from retiring for re-election partway through their term of office.

Some of the trustees are remunerated by the Society of Musculoskeletal Medicine (SOMM) for their professional services in teaching musculoskeletal medicine on behalf of SOMM. The Society governance includes strict policies and procedures that are in place to safeguard the organisation against any potential conflict of interest that might arise through such remuneration.

No Council members are remunerated for their trusteeship services.

Trustee Recruitment and Appointment

SOMM's constitution requires that Councillors be elected to office by the membership.

A call for nominations is sent to all SOMM members in advance of the Annual General Meeting.

Additionally, SOMM Council has the power to co-opt individuals.

All co-options are valid for 1 year until the date of the next Annual General Meeting, at which point Council may decide to renew the co-option.

Trustee Induction and Training

All newly-elected trustees are sent an induction pack which includes the following items:

- Trustee job description

- Council terms of reference

- Minutes from last twelve months council meetings

- SOMM governance review

- SOMM constitution

- Business plan

- Risk assessment

- Charity Trustee's Handbook

- Code of Good Governance

- SOMM contacts list

- Charity Commission information and link to their website

- Council performance review

SOMM trustees are the main decision-makers for the organisation, and the trustee board is known as Council.

Trustees are updated on SOMM activities and performance through regular email communications from the Society Manager, at Council meetings, strategic planning meetings, and any other ad hoc meetings.

Sub-committees include the Education Committee.

All Committees have specific Terms of Reference which outline their responsibilities and reporting structure. All sub-committees report to SOMM Council.

Council has agreed a target that all incoming trustees should attend formal trustee training, and has also proactively encouraged current trustees to attend such training. To date, 50% of current trustees either have already received formal training or are planning to attend a training course in the coming year.

The Society Manager manages the performance and administration of the organisation, and attends all Council and Committee meetings.

Annual budgets are prepared by the Society Manager in collaboration with the office lead for finances and the Treasurer for approval by Council.

Council receives regular management accounts reports throughout the year.

Council has delegated authority for financial decisions up to the value of £10,000 to the Treasurer, and Society Manager, providing there is unanimity across the group. This policy is beneficial operationally because it enables timely decisions to be made and implemented.

Many action points have arisen including increasing financial, business and marketing skills on the Council, clarifying the relative roles of Society Manager and Council, increasing strategic activity, improving communications and decision-making.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Approved by order of the board of trustees on 24 March 2026 and signed on its behalf by:

L Entwistle - Trustee

I report to the trustees on my examination of the financial statements of The Society Of Musculoskeletal Medicine (the charity) for the year ended 31 December 2025.

This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

Peter Wilson FCA

24 March 2026

31.12.25

31.12.24

Unrestricted

Total

fund

funds

Notes

£

INCOME FROM: FROM

Charitable activities

Charitable

221,217

274,748

Investment income

2

6,897

6,956

Total

228,114

281,704

EXPENDITURE ON

Raising funds

3

1,886

26

Charitable activities

Charitable

252,311

274,263

Total

254,197

274,289

Net gains on investments

23,741

12,025

NET INCOME/(EXPENDITURE)

(2,342

)

19,440

RECONCILIATION OF FUNDS

Total funds brought forward

159,655

140,215

TOTAL FUNDS CARRIED FORWARD

157,313

159,655

31.12.25

31.12.24

Unrestricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

8

4,567

3,465

Investments

9

213,531

228,790

218,098

232,255

CURRENT ASSETS

Stocks

10

3,994

5,144

Debtors

11

16,968

24,509

Cash in hand

29,251

37,088

50,213

66,741

CREDITORS

Amounts falling due within one year

12

(110,998

)

(139,341

)

NET CURRENT ASSETS

(60,785

)

(72,600

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

157,313

159,655

NET ASSETS

157,313

159,655

FUNDS

13

Unrestricted funds

157,313

159,655

TOTAL FUNDS

157,313

159,655

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 24 March 2026 and were signed on its behalf by:

L Entwistle - Trustee

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.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.	INVESTMENT INCOME

31.12.25

31.12.24

£

Income from listed investments

6,522

6,627

Interest receivable

375

329

6,897

6,956

3.	RAISING FUNDS

Investment management costs

31.12.25

31.12.24

£

Investment management

1,886

26

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.25

31.12.24

£

Depreciation - owned assets

1,523

1,156

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.12.25

31.12.24

Charitable Activities

4

No employees received emoluments in excess of £60,000.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME FROM: FROM

Charitable activities

Charitable

274,748

Investment income

6,956

Total

281,704

EXPENDITURE ON

Raising funds

26

Charitable activities

Charitable

274,263

Total

274,289

Net gains on investments

12,025

NET INCOME

19,440

RECONCILIATION OF FUNDS

Total funds brought forward

140,215

TOTAL FUNDS CARRIED FORWARD

159,655

8.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

COST

At 1 January 2025

5,646

8,604

9,289

23,539

Additions

-

2,625

At 31 December 2025

5,646

8,604

11,914

26,164

DEPRECIATION

At 1 January 2025

5,612

8,228

6,234

20,074

Charge for year

9

94

1,420

1,523

At 31 December 2025

5,621

8,322

7,654

21,597

NET BOOK VALUE

At 31 December 2025

25

282

4,260

4,567

At 31 December 2024

34

376

3,055

3,465

9.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 January 2025

228,790

Valuation changes

23,741

Movement capital & cash a/cs

(39,000

)

At 31 December 2025

213,531

NET BOOK VALUE

At 31 December 2025

213,531

At 31 December 2024

228,790

There were no investment assets outside the UK.

10.

STOCKS

31.12.25

31.12.24

£

Finished goods & for resale

3,994

5,144

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

16,650

19,475

Prepayments and accrued income

318

5,034

16,968

24,509

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade creditors

11,427

39,232

Other tax and social security

3,778

4,127

Other creditors

30,993

30,852

Deferred income

63,660

64,050

Accrued expenses

1,140

1,080

110,998

139,341

13.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

Unrestricted funds

General fund

159,655

(2,342

)

157,313

TOTAL FUNDS

159,655

(2,342

)

157,313

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

228,114

(254,197

)

23,741

(2,342

)

TOTAL FUNDS

228,114

(254,197

)

23,741

(2,342

)

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted funds

General fund

140,215

19,440

159,655

TOTAL FUNDS

140,215

19,440

159,655

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

281,704

(274,289

)

12,025

19,440

TOTAL FUNDS

281,704

(274,289

)

12,025

19,440

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.1.24

in funds

31.12.25

£

Unrestricted funds

General fund

140,215

17,098

157,313

TOTAL FUNDS

140,215

17,098

157,313

A current year 12 months and prior year 12 months combined 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

509,818

(528,486

)

35,766

17,098

TOTAL FUNDS

509,818

(528,486

)

35,766

17,098

14.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.