516. RSA: Scientific and Medical Network (2005 Financial Statement) 1 Manchester Court Moreton in Marsh

8/3/2019 516. RSA: Scientific and Medical Network (2005 Financial Statement) 1 Manchester Court Moreton in Marsh

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THE SCIENTIFIC AND MEDICAL NETWOR K31ST DECEMBER 2005


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Company Registratio n

THE SCIENTIFIC AND M E DICAL NETWORKREPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2005

4544694


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THE SCIENTIFIC AND MEDICAL NETWORKOFFICERS AND PROFESSIONAL ADVISERSON 31ST DECEMBER 2005

President : Dr Peter Fenwick MB, B .Chir, BA, DPM, FRC .Psych

Vice President : Professor Brian Goodwin M .Sc, MA, Ph .DGeoffrey Letham MA, AFBPs . SDiana Clift MA . M.PhilMax Payne MA, B .S c

Directors : Dr Bart van der Lugt MD, Ph .D (Chairman)Dr Bo Ahrenfelt BA, MDP r o f e s s o r J o h n C l a r k e B A , M ADr Michael King B .Sc, M.Sc, Ph .D, MADr Stephan Krall rer, na tDr Chris Lyons B.Sc, MB, BS, MRCGP M .ScClaudia Nielsen MAJaqueline Nielsen BA, BLMartin Redfern B .ScOliver Robinson MA, MS cDr Natalie Tobert BA, MA, ATC, Ph .D, M.Sc

Company Secretary :

Registered Office :

Auditors :

Bankers :

Charity Registration No :

Rupert Stewart-Smith MA

1 Manchester CourtMoreton in MarshGloucestershire GL56 OBY

Bright Grahame Murray124/130 Seymour PlaceLondon W 1 H 1B G

Lloyds TSB PlcShrewsburyShropshire

110117 1

Company Registration No : 4544694

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THE SCIENTIFIC AND MEDICAL NETWORKDIRECTORS' REPORTFOR THE YEAR ENDED 31ST DECEMBER 2005

The Directors submit their report and the audited financial statements of The Scientific a d MedicalNetwork for the year ended 31st December 2005 . The Directors have adopted the provis ons of theStatement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued inOctober 2000 in preparing the annual report and financial statements of the Charity .Legal StatusThe Scientific and Medical Network is a Company limited by guarantee . The Directc~rs of theCompany are Trustees in accordance with the Charities Act 1995 . IObjectsThe Charity's objects as set out in the Memorandum and Articles of Association are :- for the enefit ofthe public, to advance education in the study and application of science and medicine, in part cular butnot exclusively, by adopting an inter-disciplinary approach .

Review of the yearDuring the year, the Company continued the activities previously undertaken by arranging lec res andseminars on subjects relevant to its charitable purposes . These were open to the general pubic, apartfrom one meeting held for members of the Network only at the time of the AGM . Work o variousprojects jointly with partners in these fields continued . Further details of the projects are giv n in theNetwork Review, which is edited, published and distributed to members of the Network and othersthree times a year .In the coming year the Company is planning to expand its education programme . It will continue tofocus on expanding its membership, particularly in continental Europe . The three day AnnualGathering for 2005 was held in Germany . It is planned to hold at least one seminar there each ear (inRotterdam in 2006) and the Annual Gathering every third year .Directorate and members' interest sThe Directors of the Company on lst January 2005 were Dr Bart van der Lugh (Dutch) (Cha~rman),Professor John Clarke and Mrs Claudia Nielsen (Brazilian) (Deputy Chairmen), Dr Christophe Lyons(Treasurer), Dr Bo Ahrenfeld (Swedish), Mr Bernhard Harrer (Austrian), Mr Keith James n, MrMartin Redfern, Dr Michael King and Dr Natalie Tobert .Mr Keith Jameson resigned as a Director on 26th January 2005 . Mr Bernhard Harrer resign ~d as aDirector on 7th July 2005, but remains available as a Consultant .The Directors retiring by rotation at the third Annual General Meeting held on Sunday 10th Jul~ 2005were Dr Michael King, Mrs Claudia Nielsen and Mr Martin Redfern . Being eligible, they dfferedthemselves for re-election and were re-elected . At the Annual General Meeting Mr Stephanl Krall(German) was also elected a Director to fill the remaining vacancy .At a Board Meeting held on the 10th July 2005, Ms Jaqueline Nielsen (Irish) and Mr Oliver Rowere appointed Directors by co-option .

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THE SCIENTIFIC AND M EDICAL NETWORKDIRECTORS' REPORTFOR THE YEAR ENDED 31ST DECEMBER 2005

Directorate and members' interests (continued)On the 31st December 2005, the members of the Company were the Directors listed abve . Themembers are the guarantors, each in sum not exceeding l .At the fourth Annual General Meeting to be held at the University of Plymouth on Sunday 16th July2006, the Directors retiring by rotation are Professor John Clarke, Dr Bo Ahrenfelt and r NatalieTobert . Professor Clarke and Dr Ahrenfelt have indicated that they do not wish to offer the selves forre-election . Ms Jaqueline Nielsen and Mr Oliver Robinson, who were co-opted during the ear, alsoretire under the Articles of Association . Dr Tobert, Ms Nielsen and Mr Robinson, being elig ble, offerthemselves for re-election . There are three vacancies for Directors to be elected at the Annu 1 GeneralMeeting . There are three further vacancies available by co-option by the Board .SMN Projects LimitedOn the 23rd January 2005 all the ordinary shares in SMN Projects Limited were transferrd to theCompany by the Trustees of The Scientific and Medical Network Charitable Trust . SMNI ProjectsLimited had ceased to undertake new business from 31st December 2004 .Risk assessmentThe Directors review financial and other risks, when appropriate, and have established procedures toensure that all transactions and projects are properly authorised .AuditorsOn 5th December 2005, Spofforths, Chartered Accountants of Courtyard House, 30 Worthin Road,Horsham, West Sussex, RM12 1SL resigned as Auditors of the Company . At the adjourned ThirdAnnual General Meeting it was resolved that Messrs . Bright Grahame Murray, Chartered Acco ntants,of 124/130 Seymour Place, London, W1H 1BG be appointed Auditors to the Company in the _r placeuntil the conclusion of the next following General Meeting and that their remuneration should e fixedby the Board .Statement of Directors' responsibilitiesUnder the Charities Act 1993 and the Companies Act 1985 the Directors are required to pr pare astatement of accounts for each financial year which gives a true and fair view of the state of af airs ofthe Charity at the end of the year and of its incoming resources and application of resources in thl year .In preparing the statement, the Directors are required to :-

select suitable accountin g policies and then app ly them consistently ;- make judgem ents and estimates that are reasonable and p rudent ;- state whether applicable accounting st andards and statements of recommended practic have

been followed, subject to any material departures disclosed and explained in the state nt ofaccounts ;prepare the accounts on the going concern basis, unless it is inappropriate to presume t at theCharity will continue its operations .

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THE SCIENTIFIC AND MEDICAL NETWORKDIRECTORS' REPORTFOR THE YEAR ENDED 31ST DECEMBER 2005

Statement of Directors' responsibilities (continued )The Directors are responsible for keeping proper accounting records, which disclose withaccuracy at any time the financial position of the Charity at that time and to enable the Iensure that any statement of account prepared by them complies with the regulations un42(1) of the Charities Act 1993 . They are also responsible for safeguarding the assets ofand hence for taking reasonable steps for the prevention of fraud and other irregularities .

By order of the Board

R. STEWART-SMITHSecretary

Date : 10TH JULY 2006

sonablec tors toSectionCharity

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OFTHE SCIENTIFIC AND M E DICAL NETWORKYEAR ENDED 31ST DECEMBER 2005

We have audited the financial statements of The Scientific and Medical Network for the year ended 31stDecember 2005 which comprise the Statement of Financial Activities, the Balance Sheet and he relatednotes set out on pages 7 to 14 . These financial statements have been prepared under the hist rical costconvention and the accounting policies set out on pages 9 and 10 .This report is made solely to the charitable company's members, as a body, in accordance w4 h Section235 of the Charities Act 1993 and Companies Act 1985 . Our audit work has been undertak n so thatwe might state to the charitable company's members those matters we are required to state t them inan auditor's report and for no other purpose . To the fullest extent permitted by law, we do ot acceptor assume responsibility to anyone other than the charitable company and the charitable c mpany'smembers as a body, for our audit work, for this report, or for the opinions we have formed .Respective responsibilities of Directors and Auditor sAs described on pages 3 and 4, the directors are responsible for the preparation of financialin accordance with United Kingdom law and accounting standards .

Our responsibility is to audit the accounts in accordance with relevant legal and regulatoryand United Kingdom Auditing Standard .We report to you our opinion as to whether the accounts give a true and fair view and are properlyprepared in accordance with the provisions of the Statement of Recommended Practice (SORP)"Accounting and Reporting by Charities" issued in October 2000 . We also report to you if in ouropinion, the Directors' Report is not consistent with the accounts, or if the Directors have ot keptproper accounting records, if we have not received all the information and explanations we req ire forour audit, or if information specified by law regarding remuneration and transactions with Directors isnot disclosed . IWe read the Directors' Report and consider the implications for our report if we become awarel of anyapparent misstatements within it .Basis of opinio nWe conducted our audit in accordance with Auditing Standards issued by the Auditing PracticesAn audit includes examination, on a test basis, of evidence relevant to the amounts and disclo :the financial statements . It also includes an assessment of the significant estimates and judlmade by the Directors in the preparation of the financial statements, and of whether the accpolicies are appropriate to the charitable company's circumstances, consistently applied and ad(disclosed .

i n

l y

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OFTHE SCIENTIFIC AND M EDICAL NETWORKYEAR ENDED 31ST DECEMBER 2005

Basis of opinion (continued )We planned and performed our audit so as to obtain all the information and explanationsconsidered necessary in order to provide us with sufficient evidence to give reasonable assuthe financial statements are free from material misstatement, whether caused by fraudirregularity or error . In forming our opinion we also evaluated the overall adequacy of the piof information in the financial statements .Opinion

micn wea n c e t h a tor others e n t a t i on

In our opinion the accounts give a true and fair view of the state of the company's affairs a's at 31stDecember 2005 and of its incoming resources and resources expended for the year then ended ~nd havebeen properly prepared in accordance with the Companies Act 1985 and the Charities Act 1993 1

Bright Grahame MurrayChartered Accountantsand Registered Auditors124/130 Seymour PlaceLondonW1H 1B GDate: 19th July 2006

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THE SCIENTIFIC AND MEDICAL NETWORKSTATEMENT OF FINANCIAL ACTIVITIESFOR THE YEAR ENDED 31ST DECEMBER 200 5

Un-Restricted RestrictedNotes Funds Funds 2005

Incoming resourcesDividends from SMN Projects

Limite dSubscriptionsDonationsDonations from the Scientific and

Medical Charitable TrustIncome tax recoverabl eActivities in the furtherance of the

Charity's objects :Lectures, meetings etc

Activities for generating funds :Investment income

Total incoming resources

Resources expende dCharitable expenditure :

Costs in furtherance of the Charity'sObjects

Man agement and administration

2 , 7 1 1 - 2,714 9 , 4 3 2 - 49,4322 0 , 2 2 7 - 20,2218592 - 185926967- 6967

2004

51,77570,40490,30 94,570

94797- 94797 7,5911469- 146962194,195 - 194,195 225,278

1 6 4 , 0 3 81 0 , 3 0 5

2 174,343

18,4574 1 4

1 8 , 8 7 1

1 8 2 , 4 9 51 0 , 7 1 9

1 9 3 , 2 1 4

154,33911,609

165,948otal resources expended

Net movement on fundsTransfersFund balances brought forwardFunds at 31st December 2005

1 9 , 8 5 2 (18,871) 981 5 9 , 3 3 01 , 8 1 6 (1,816) - -

13,917 45,413 59,330 -

835585 24,726 60,311 59,330

The notes on pages 9 to 14 form part of these financial statements .

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THE SCIENTIFIC AND MEDICAL NETWORKBALANCE SHEET AS AT 31ST DECEMBER 200 5

N otes 2 0 0 5 2 60 4 FIXED ASSETSTangible fixed assets 3 2,150 2,98 7Investments 4 - -

2 ,150 2,98 7CURRENT ASSETSDebtors 5 4,763 11,28 7Cash at bank and in hand 6 63,932 58,369

68,695 69,656CREDITORS : amounts falling du e

within one year 7 1( 0,534 ) 1 3 ( , 3 1 3 )NET CURRENT ASSETS 58,161 56,34 3

60,311 59,33 0

FUNDSUnrestricted funds: General funds 8 35,585 3,91 7Restricted funds 8 24,726 ~5, 41 3

60,311 19,33 0

These accounts were approved by the directors on 10th July 2006 and signed on their behalf .

DR . C . LYONSDirector

C. NIELSENDirector

The notes on pages 9 to 14 form part of these financial statements .

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THE SCIENTIFIC AND M E DICAL NETWORKNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31ST DECEMBER 2005

1 . ACCOUNTING POLICIESBasis of accountingThe financial statements have been prepared under the historical cost convention . The fi ~ ancialstatements have been prepared in accordance with the Statement of Recommended P lactice"Accoun ting and Reporting by C harities" pub lished in O ctober 2000 and the Charities Act 1 ;993 .Fund accountingThe unrestricted funds are those which are available for use at the discretion of the direct~rs infurtherance of the general objectives of the charity and which have not been designated for othe rp u r p o s e s .

Restricted funds are funds which are to be used in accordance with specific restrictions ilby donors or which have been raised by the charity for particular purposes . The cost ofand administering such funds are charged against the specific fund .Investment income and gains are allocated to the appropriate fund .Incoming resource sDonations and subscriptions are recognised as income when received .Investment income is included in the accounts on a receivable basis and includes amountsfor outstanding refunds of tax deducted at source .Resources expendedAll expenditure is accounted for on an accruals basis and has been classified under headings thataggregate all costs related to the category .DepreciationDepreciation is provided on a basis which will write off the cost of fixed assets overestimated useful lives by the following methods .Computer equipment -Office equipment -

Stock

25 % per annum on cos t25 % per annum on reducing balanc e

No value has been ascribed to the stock of publications on the basis that the majority of thesenormally given away and therefore it is prudent to account for all publication costs in the perthey are incurred .

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THE SCIENTIFIC AND MEDICAL NETWOR KNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31ST DECEMBER 2005

1 . ACCOUNTING POLICIES (continued )Foreign currenciesTransactions in foreign currencies are recorded at the rate ruling at the date of the trans~ction .Monetary assets and liabilities denominated in foreign currencies are translated at the r te ofexchange ruling at the balance sheet date . All differences are taken to the profit and loss ac ount .

2 . TOTAL RESOURCES EXPENDED ManagementCharitable anprojects administration 2005 F 004

I

Consultancy fees 10,947 - 10,947 5, 773Legal and professional fees - - - 49 9Staff salaries 45,741 - 45,741 45,00 9Board of directors meetings - - - 1,84 8Event rooms and catering 54,397 - 54,397 56 8Advertising 2,111 - 2,111 1,13 3Postage 3,566 - 3,566 2,875Stationery 2,002 - 2,002 1,489Other printing costs 6,046 - 6,046 13 1Review costs 27,104 - 27,104 28,52 9Book purchases 3 51 - 3 51 26 2Audit fees - 3,854 3,854 ,525Payroll costs - - - 24 7Depreciation 1,000 - 1,000 9 9 6Telephone and e-m ail services 1,3 70 - 1,370 ,682Rent - Office and associated costs - 4,797 4,797 ,144Travelling 3,855 - 3,855 ,088General expenses 1,618 - 1,618 9 0 7Website maintenance 1,649 - 1,649 ,653Bank and credit card charges - 2,068 2,068 845Theoria to theory fund 5,500 - 5,500 ,800GP library project 15 3 - 153 235Character education project 9,443 - 9,443 3I , 473

1 23 7eonardo project 3,361 - 3,361 5 ,Retreat 2,281 - 2 , 2 8 1

1 8 2 , 4 9 5 1 0 , 7 1 9 1 9 3 , 2 1 4 165~948

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2 . TOTAL RESOURCES EXPENDED (continued) 2005

Is stated after charging :Auditors remuneration - audt fees32313- oher servces 623Dpecaon100

2005No .

The average number of employees was :

Fu m 2

Pr

No director received any remuneration in respect of their services as a director during thel(2004: Nil) .No travelling expenses were reimbursed to the Directors during the year (2004 : 606 ) .

3 . TANGIBLE FIXED ASSETS Office andcompute requipmen tCost :

At lst January 2005 3 ,98 2Additions 16 4At 31st December 2005 4,146Depreciation :At 1 st January 200 5 99 6Charged in the year 1 ,00 0At 31st December 2005 1,996Net book value :At 31 st Dec ember 200 5 2,150

At 31st December 2004 2,987

2

yea r

P a g e ' r 1 1


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4 . INVESTMENTSOn 23rd January 2005 the ownership of SMN Projects Limited, a dormant compan wastransferred to The Scientific and Medical Network for no cost . The net assets of SMN PojectsLimited at 31st December 2005 are 1,000 .

2005 0045 DEBTOR

Other debtors 2,690 ,430Prepayments 2,073 $,85 7

4 , 7 6 3 1 ,28 7

6 . CASH AT BANK AND IN HAN DBank current account 7,160 31,653Barclays tracker account 56,185 5 4 ~ , 7 1 6Euro account 56 7 -Other accounts 20 -

63,932 5 8 3 6 9

7 . CREDITORS: amounts falling due within one yea rTadecedos6565Amounts owed to associated undertakings 1,000 3,036Other creditors - I203Accruals and deferred income 9,469 1 0 , ~ , 0 0 9

10,534 13, 13

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THE SCIENTIFIC AND MEDICAL NETWOR KNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31ST DECEMBER 200 5

8 . FUNDS

Unrestricted fundsGeneral fund

Restricted fundsThe Theories to Theory FundCharacter education projectLeonardo projectGP library project

A tlst January

2005 Incoming Transfers 13,917 194,195 1,81 6

9 . ANALYSIS OF ASSETS BETWEEN FUNDS

Fund balances at 31st December 2005 arerepresented by :Tangible fixed assetsDebtor sCashCurrent liabilities

Outgoing

( 1 7 4 , 3 4 3 )

RestrictedFund s

2 , 1 5 04 , 7 6 3

39,206 2 4 , 7 2 61 ( 0 , 5 3 4 )

35,585 24,726

2 1504 7 6 3

6 3 9 3 2'1 0 . i 5 3 4

1 1

10 . SHARE CAPITA LThe company is limited by guarantee, with each member being a guarantor in the sum of 1 .

11 . RELATED PARTIESThe Scientific and Medical Network Charitable Trust :During the year, the Scientific and Medical Network Charitable Trust (charity registranumber 295267) made a donation of 18,592 (2004: 90,309) to the company. The trust is olNil (2004 : 2,960) by the company at the year end .

Unrestrictedfund s

At31 t December

2005

3 5 , 5 8 5

24,026 - (,816) ( 5 , 50 0 ) 16,71 010,806 - - (9443) 1,36 33,775 - - (3,7756 ,8 06 - - (153) 6 65 3

45,413 - (1,816) (18,871) ~ 2 4 , 7 2 6

2 4,

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THE SCIENTIFIC AND MEDICAL NETWORKNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31ST DECEMBER 2005

11 . RELATED PARTIES (continued )SM N Projects Limited:SMN Projects Limited (company registration number 3011944) is a subsidiary company f TheScientific and Medical Network . During the year, SMN Projects Limited invoiced Nil 2004 :476) to the company, and the company received a gift aid donation of Nil (2004 : 4,000) and adividend of 2,711 (2004: Nil) from SMN Projects Limited . SMN Projects Limited is owed1,000 (2004: 76) by the company at the year end . Control of SMN Projects Limiteyl wastransferred to the company by the Scientific and Medical Network Charitable Trust onll 23rdJanuary 200 5 .

Documents

516. RSA: Scientific and Medical Network (2005 Financial Statement) 1 Manchester Court Moreton in Marsh