2020 Annual Review: Summarised financial statements

Summarised financial statements

Statement of financial activities for the year ended 30 June 2020.

	Total Funds 2020 £000's	Total Funds 2019 £000's
Income from:
College subscriptions	5,683	5,394
College examination fees	1,496	1,899
College courses and conference fees	593	1,064
Other education, training and examination income	140	825
Clinical quality and research	334	230
Faculty of Intensive Care Medicine	865	1,043
Faculty of Pain Medicine	180	356
Project income	377	536
Donations	27	30
Trading activities	531	1,291
Investments	644	612
Other	161	165
Total	11,031	13,445

Expenditure on:
Communications, external affairs and membership	2,505	2,456
Clinical quality and research	2,187	2,059
Education, training and examinations	4,760	5,150
Faculty of Intensive Care Medicine	886	924
Faculty of Pain Medicine	389	412
Project costs and research grants	377	537
Trading activities	682	1,344
Fundraising	31	29
Other	132	18
Total	11,949	12,929
Gains on investments	(713)	772
Net movement in funds	(1,631)	1,288
Total funds brought forward 01 July 2019	34,041	32,753
Total funds carried forward 30 Jun 2020	32,410	34,041

Consolidated balance sheet at 30 June 2020

	2020 £000's	2019 £000's
Fixed assets:
Tangible and intangible assets	14,955	15,050
Investments	11,667	10,518
Investment property	4,780	5,142
Total fixed assets	31,402	30,710

Current assets:
Stocks	6	6
Debtors	640	964
Cash and deposits	5,561	7,452
Total current assets	6,207	8,422

Liabilities:
Amounts falling due within one year	5,199	5,091
Net current assets	1,008	3,331
Net assets	32,410	34,041

The funds of the charity:
Endowment funds	5,449	5,767
Restricted income funds	1,493	1,555
Unrestricted – General funds	6,703	7,079
Unrestricted – Designated funds	18,765	19,640
Total charity funds	32,410	34,041

Staffing headcount

	2020	2019
Communications and External Affairs	16	15
Clinical Quality and Research	21	18
Education, Training & Examinations	39	40
Faculty of Intensive Care Medicine	7	7
Faculty of Pain Medicine	5	4
Other departments	31	31
	119	115

Staffing costs in 2020 were £5,635k (2019: £5,303k)

Report by the trustees on the summarised financial statements

The summarised financial statements above are an extract from the full statutory trustees’ annual report and financial statements, which the trustees approved and signed on 14 October 2020. The full financial statements, on which the auditors Crowe U.K. LLP gave an unqualified audit report on 18 November 2020, have been submitted to the Charity Commission.

These summarised financial statements may not contain sufficient information to gain a complete understanding of the financial affairs of the charity. The full statutory trustees report, financial statements and auditors’ report are available on the College website.