British Menopause Society ILlmlted by Guarantee) Financial Statements for the year ended 31 December 2025 Charity No: 1015144 Company No: 02759439
BRITISH MENOPAUSE SOCIETY Flnandal Statements for the year ended 31 December 2025 CONTENTS Report of the Trustees 1-14 Audltor< Report 15-17 ststement of Financlal Actlvltles 18 Balance Sheet 19 Statement of Cash Flow 20 Notes to the Flnandal Stalements 21-27
ITISH MENOPAUSE SOCIE ol thg Trustees for the Year Ended 31 December 2025 Re The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present thelr report wSth the financlal statements of the charity for the year ended 31 December 202S. The Trustees have adopted the provision5 of Accounting and ReportinE by Charities: Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021. REFERENCE AND ADMINISTRATIVE INFORMATION REGISTERED COMPANY NUMBER 02759439 TRUSTEES Kathy Abernethy Professor Paula BrigES Miss Gill Cheesbrough Dr Heather Currle Mr Haltham Hamoda Mr Tim Hillard Mr Eddie Morris Profe550r Janice Rymer Mr Patrick SheNington Mr Paul Simpson Professor John Stevenson Nina Wilkins Sara Moger Immediate Past Chair Deceased 30 November 2025 (Non-medical Trustee) Chalr (Non-medical Trustee Chair Elect.. elected 26 June 2025 Appointed 26 June 2025 (Non-medlcal Trustee) Chief Executive (Ex officiol MEDICAL ADVISORY COUNCIL Dr Juliet Balfour Dr lane Clarke-williams Professor Melanie Davie5 Mr5 Rebecca Hall Dr Olivia Hum Professor MaryAnn Lumsden Dr Krlstyn Manley Dr ColSnette Margerlson Dr Shilpa McQuillan Professor Nick Panay Dr Claire Phipps Professorjanlce Rymer Dr Zoe Schaedel Miss Angela Sharma Mr Paul Simpson Dr Clare Spencer Elected 26 June 2025 Elected 26 June 2025 Elerted 26 June 2025 Elected 26 June 2025 Chalr Re-elected 26 June 2025 Chair elect CHIEF EXECUTIVE Sara Moger
REGISTERED OFFICE Flrst Floor, Spracklen House, Dukes Place, Marlow, Bucklnghamshire SL7 2QH AUDITORS Knox Cropper LLP, 65-68 Leadenhall Street, London, EC3A 2AD LAWYER5 Bales Wells, 10 Queen Street Plaee, London EC4R IBE BANKERS Lloyds plc, l Readlng Road, Henley on Thames, Oxfordshlre RG9 IAE
STrUCTURE. GOVERNANCE AND MANAGEMENT The organlsatlon is a charitable company limited by Buarantee and is registered as a charity. Trustees Trustees are therefore both company directors and tNstee5. Under the amended Memorandum & Articles of Associatlon adopted at the 2008 AGM al least 50% of the board of trustees must be healthcare professlonals. The board is formed by the chair and the immediate past chair/chair elect of the British Menopause Society IBMS) medical advlsory councll, together wlth other elected mernbers of the Medical Advlsory Council (MACI. Those with expert15e in areas Other than medicine, including finance. legal. publlshin& marketlng/PR, media, busine55 and charity may be appointed a trustee by the board. The BMS board of eleven trustees, with combined rnedical and non-medical skills continues to provide balanced and effective governing body. Trustees are inducted to the policies and procedures of the charity by the chlef executive and tralnSng 15 provlded as appropriate. In May 2025, Professor Melanie DavSes and Mr Paul Slmp50n put themselves forward to stand for BMS Chair. Paul Slmpson was the successful candidate and takes up office at the AGM in 2026. The board offers commlseratlons to Melanie and congratulatlons to Paul. We greatly look forward to worklng wlth you, The board leamt with great sadness of the untlmety death5 of two long-standingi active and 5UPPQrtive members of the soclety. Anthony Mander, Consultant Gynaecologist who, since retirin8 from the NHS, specialised in menopause hèalth and lifestyle and had speclallst pract15 In both In Oxford and Oldham. Tony worked as a Consultant Obstetrlcian & GynaecoloBist at The Royal Oldham Hospital for many years, where he developed a partlcular Interest In medical education, both at underaduate and postgraduate level. Tony also had a special interest in nutrition and the menopause, publishing a nurnber of books on the topic and becomlng Presldent of the Food & Health Forum at the Royal Society of Medicine belween 2019 and 2021. Tony was a lonE-standlng BMS member and a stalwart of the soclety from the beglnnlng. He seNed on the British Menopause Soclety council from 1997 until 2008, holding the 5t of Treasurer. He was Associate Editor of the BMS journal, Post Repmdijctive Health, a registered BMS menopause speciallst and a BMS menopause trainer and many members wlll have been trained by him over the years. Gill Cheesbrough. a non-medical trustee of the British Menopause Society, died suddenly at the end of November 2025. Glll became a Trustee in 2012, providing many years of sensible, pragmatic advice Dn BMS and WHC fir)ance5. In the early day5 of her tenure, finances were problematic, wlth the future of the Soclety uncertaln and her sound approach was Invaluable. Gill graduated from Nottlngham Universlty and took a job in the local Midland Bank in PstOn. In 1985 she moved to London to work in the city for HSBC in the newly formed Group Economics department where she specialised in internatiorbal economic affairs. She took early ret1ment to help look after her father when he became ill. She took great interest in art, the theatre, music and ballet and enjoyed trips to the theatre5 in London and the provlnce5. She was algver of fine dining and fine wine and would arrange get-tOBethers with her unlversity friends in various parts of the country. She also continued to follow rugby and became an ardent supporter of Esher Rugby Club. Both Tony and Glll are sadly missed. Full obituarie5 for Tony and Gill were published respectively in the September 2025 and March 2026 editions of PDSt Reproductive Health, the Societls Journal.
Rlsk Management The trustees undertake thelr dutles to revlew the rlsks to wh5ch the charlty Is exposed and to ensure approprlate controls are in place to provide reasonable assurance against fraud and error. The CE consults closely wlth our lawyer5, Bates Wells, who provlde an excellent and comprehenslve servlce. The BMS engaged Bate5 Wells during 2025 to aS5iSt wlth a Data Subject AC55 Request IDSARI. The Soclety also engaged a DSAR 5eNices company to assist in the handling and response to the DSAR. In September 2025, the Society was issued with a request for Judicial Revlew and again Bates Wells was enEaEed. Costs to the charity for 2025 total £171, 962. Reseryes Pollcy Until four years ago our poliry was predlcated on the Imperative to remain flnanclally vlable as a soclety. Since then, the board has directed that reserve5 should be built up year-on-year to a target of 12 months operatin8 costs which equates to £1,275,ac4J. At the current year end free reseeS are £2,856,761 leaving surplus fund5 of £1,581,761 which will be allocated for use in 2026 and 2027 towards the Societls educational actlvlties and the lrnplementation of a CRM. Medlcal advisory councll IMAC) Medical advisory countil members are elerted by the members of the BMS for a term of three years. With the exception of the chair, immediate past chair and chair elect, one third of council members retire from Offi at each AGM. A retirin8 council member 15 eligible for re-election for one further term of three years, After serving two terrns, a council member is eligible for re-election after a period of 12 months. Council members are appointed at the AGM, although they can be co-opted by the board in the interim. Annual General Meeting IAGMI At the AGM at Chesford Grdnge held on 26 June 2025, Sara Moger, Chief Executive, thanked those standin8 down from the medical advisory council. Paula Briggs stood down from council having completed two terms together wSth her time as Chair and Immediate Past Chair. The Board offered sincere thanks to Paula for her vibrant chairing of the society over a partlcularly challenglng couple of years. The Board is delighted that Paula has agreed to remain on the board of trustees. Kate Panter a150 Stood down from council after completing two terms a5 did Katie Barber and Annice Mukherjee who both stood down after completlng one term. Many thanks to Kate, Katie and Annice for their sound common sense and their support of our eduiation programme. Zoe Schaedel and Paul Simp50n completed their first term of three years on council and offered them5elve5 for re-election. Therefore, six places were avallable on the medlcal advisory councll wlth ten candidates standing. We are pleased to confirm that Zoe and Paul were re*lected for a second term of three years and Jane Clarke-Wllliam5, Rebecca Hall, Colinette Margeri50n and Shilpa McQuillan were also elected. Congratulations to all six car)didates. Nadira Awal, Annie Hawkins, Gidon Lieberman and Mlke Savvas were unsuccessful. 316 votes were cast from 2,399 members which represents 13.2% of the membership. Thi5 is a drop on last year of 4%.
OBJECTIVES AND ACTIVITIES The Memorandum & Artlcles ot Assoclatlon (Mem & Arts) of the 8MS, which were incorporated on 27 October 1992, and amended on 2 July 2008 and S July 2012, deflne the objects for whlch the company wa5 established. These are.. To facilitate the advancement of education by the promotion of interest in all matters relating to the menopause Imeaning the short- and long-term consequences of ovarian insufflclency and the assoclated life events occurring in women) and gynaecological disorder To facilitate the mijlti-di5clpllnary study of matters relating to the menopause and exchange of information and ideas betsveen persons working in this field To promote high standards of trainlng for those involved in advising women about the menopause and its consequences To relieve women suffering from gynaecological disorders The Brltlsh Menopausé Soclety IBMS) is the specialist 2hOrItY for menopause and post reproductive health In the UK. Established In 1989, the BMS educates, Informs and guides healthcare professiona15, wothing in primary and secondary care. on menopause and all aspects of post reproductNe health. This is achieved through.. Our Education Programme, which includes the annual scientific conference, the WHC annual symposSum on women's health, 8MS Masterclasses and BMS certlficated educatlon and training in the Principle5 & Practice of Menopause Care and in Cognitive Behavioural Therapy for menopause symptoms. Our interactive website which features BMS TV.. the menopause expltiined and the online re8lSter of BMS menopause speclallsts, Our range of resources and publication5 including Joint Guideline5, Consensu5 Stotements, Too15 for clinicians. BMS bulletin5 and new5 alert5. the quarterly journal Post Reproductive Health and the deflnltive handbook Man(eMent of the Menopause. Women's Health Concern IWHCI, established in 1972 and ihe patlent arm of the BMS slnce 2012. WHC provides independent advice to inform and reassure women about their gynaecological, sexual and post reproductive health. WHC offers trusted InfomiatSon to women and thelr partners via.. The web51te, which contains a wide ranBe of downloadable resources, Including factsheets and Infographics and a separate menopause sertlon, Menopause.. Giving you confidencefor understanding ond urtion Llnks to a series of short videos, BMS ni.. the rnenopouse exploined and the BMS menopause speclallst onllne regSster wlth detalls of NHS and private clinics and services As recorded In last yearfs Trustees, Annual Report, the board made the decSslon to dereglster Women's Health Concern as a charity at the trustees, meeting on 26 June 2024. The BMS engaged our lawyers, Bates Wells. to undertake the process. Notlficatlon was recelved from CompanSes House of the dlssolutlon of WHC on 15 April 2025. 5imllarly, the Charity Commlssion notlfled us that WHC was closed on 14 May 2025 and as sult, was removed from the Charlty Commisslon register. At the Women's Heafth Concern annual symposlum, held on 27 November 2025, Professor john Stevenson formally stood down as chair of WHC. John was thanked for his years of dedication and commitment to the charity and for his clinical expertise and input. In recognition of John's service. the GerLyldSwyer Memorlol Lerture was renarned the Professorjohn Stevenson Lecture. John delivered the inaugural lecture entitled HR Tand coroniyrydiseu5e.' between o rock and o hord placeP
ACHIEVEMENT AND PERFORMANCE Educatlon programme BMS Management ofthe Menopause Ceruficate As awareness of menopause continues to grow, so too does the demand for specialist training - something traditional competency-based programmes have struggled to kèep up with. Long waitin8 lists have made it harder for HCPS to access the education they need, creating gaps in care. Therefore, to brldge the menopause tralning gapj in June 2024, the BM5 launched the BMS Management of the Menopause Certificate IMMCI. It was elghteen months in development and It provides comprehenslve new BMS online education. This in-depth menopause education should provide the eliBible HCP learner with everything that they need to treat 95% of thelr patlents, leaving only the 5% of patients with eomplex Issue5 to be referred for sperialist care. This evldence-based menopause education, developed by healthcare professiona15 for heahcare professionals, is peer reviewed and incorporates recommendations for best practice from both national and Snternational guidelines. A total of 2,708 delegates have enrolled to date, and 1,672 have completed the 38 hours on-line education to achleve the new MMC. Demand in 2025 contlnues at around Itx) new delegates per month, wlth no sign of Interest or demand declining. Total income £1,194,37612024- £957,026) with expenditure of £51,831 12024.. £96,397). The certificate content was developed by Haltham Hamoda an(1 Heather Currle, wlth slgniflcant Snput from those on the board and the rnedlcal advi50ry council. Haltham's vlsion and (Irlve- in tonjunctlon with the BMS team- ensured that the tertificate offers high-quallty content, which was unlquely peer reviewed and Is easily acssible to delegates. The board warmly thanks Haitham and Heather for their contlnuing commitment to this important and slgniflcant ad(Iltlon to the BMS educatlon programme. Conference & Meetings The BMS once again organised an active, varled and highly evaluated education programme throughout 2025. As in 2024, the annual scientlflc Conferen and WHC annual symposSum were held face-to-face, whlle all other educational rneetiriB5 and courses continued vlrtuallv. Annual 5clentlfic conference The 34th annual scientific conference. Menopause.. uchlevlng an equlllbrlum. took place at Chesford GranBe in Kenilworth on Thursday 26 and Friday 27 June 2025. Chesford Grange has become the reBular'home' to the conferen, being situatetl centrally wlth good transport Ilnks. Dr Katie Barber and Professor Nick Panay, the Jolnt chairs of the programrne planning group IPPGI, and the PPG members are to be congratulated on securing excellent speakers and PtIng together a first-class programme. Special thanks go to Dr Claudio Soares, Professor, Department of Psychlatry, Queen's Unlverslty School of Medicine, Kingston, Ontario, Canada,. Clinical Lead, Mental Health & Addittions, Ontario Health East,. Dirertor, Centre for Psychedelics Health & Research, Queen's Unlversity and Provldence Care Hospital: President, the Menopause Society who delivered the BMS annual lerture: Monugement of PerimenopausLTI Depre55ion. In addition to thi5 keynote lecture, Claudio also delEvered a second lecture.. EnhL7nclng quulity of life oftercuncer. Our thanks to Claudio for both excellent lectures. We also thank Professor Robin Daly, Professor of Exercise and Ageing, Institute for Physical Actlvity and Nutrition, Deakin University, Melbourne, Australia who delivered the Pat Patterson Memorlal Lecture: Stronger Through Menopause.. 5xercise and Nutrltion Solutions In the Eru of Incretin-bosed Wejght Loss Thert7Py.
Both keynote lectures were extremely well-evaluated and achleved 'Hlghllght of the dav from a large proportion of delegates. Claudlo and Robin not only delivered superb lectures. but dellvered them ex gratla. Our pollcy, In line with uther medical charltles and societles, is that we pay expenses, but do not offer speakers, fees. Thls policy applles throughout our education programme. The entlre conference was well-evaluated, wlth some excellent recommendations for future topics. The flgures for the face-to-face If2fj and on demand conference are as follows.. Annual $¢lentlllc conferèncè t2t.. Delegates 407lsold outl.. Income: £169,06212024: 4401£167,0951 Exhlbllors: 171£42,60012024.' 171£32,8501 Totsl Income £ 169,062 Total Expenditure £ 142,034 Surplus: É 27,028 Annual sclentlflc Conference on demand: Delegates: 363,. Income.. £128.76012024.' 4151 £135,242> Total Income £ 128,760 Total Expendlture £ 13,361 Surplus: £ 115,399 Totsl annual sclentlfl¢ conference Income £297,822 wlth a surplus for both f2f and on demand of £142.427. We held two Cognitive BehavlourTherapy {CBTI for menopause symptoms course& Both courses filled up quickly and a vIeW wlll take place to investSgate the potentlal for an onllne versSon of the course. Our thanks to Melanle Smith and Janet Balabanovic for deliverinE Ihls exlIent course. There Is no doubt that CBT Is an essentSal component Sn the overall educatSon of HCPS. It is also an important alternatlve for those women who are not able or choose not to take HRT. Four BMS Mastsrclasses- practl¢al pre6¢ribinB workshops took place virtually, again a combination of pre- recorded presentations and a1Sve and Interactive 2-hour sessSon. These took place In February, Aprll, September and October, 558 delegates lolned these workshops, and the evaluations were excellent across the board. Thank you to all those who chalred. facllltated and contributed. The Royal College of Obstetrl¢lans & Gynae¢ologlsts IRCOGI IBMS Post Reproductlve Health meeting took place remotely and was attended by 137 delegate512024.' 1961. It generated a surplu5 of £20,38312024- £23.0521 whlch was shared between the BMS and the RCOG. Once again thanks to the course oaniserS Mike Savvas, Haitham Hamoda and Nick Panay. The Women's Health Concern 35th Annual Symp051um on women's health was held at the Cavendish Conference Centre in London on Thursday 27 November 2025 and 136 delegates attended12024: 1711. We also offered an on-demand option making recording5 of the actual day avallable from 8 December 2025- 8 February 2026. Chaired by Professor Janice Rymer, a wide-rdnging programme wa5 produced and highlights included the inaugural Professor John Stevenson Lecture, HRT tind coronory diseose.. between o rock ond o hordplace? delivered, as previously reported, by John himselfl Our thanks to John and all other speakers who contributed to an excellent day.
The figures for the WHC symposium are: WHC symposium f2f.' deleBates.' 136,. income.. £39,705 Exhibltors.. 9,. income: £12,150 WHC symposlum on demand: delegates: 112; Income: £24,580 Total WHC symposium income: £64,285 Total educatlon Income: £1,663,155 (2024 EI,437,548) Total Income". £2.225fi76 (2024 £1,953.555 NS.. income generated by exhlbltors at ourtwo f2f meetlngs totalled £54,75012024-. £44,500). Thi5 represents 2.5 % of total annual income, broken down as follows Non pharma- £23,9)0 1.1% Pharma- £30,850 1.4% Our edueatlon programme continues to be the core actSvlty of the BMS. Over4,200 HCPS accessed BMS training and education- remotely and face-to-frdce. Both primary and secondary care were well represented,. especSally encouraging was the Increased range of healthcare professlons in attendance, e.6. pharmacists, SAS doctors, physlotherapists, dietitians, etc, all wwth an interest in women's mid-life health and well-belng. Membershlp Membershlp numbers continued to grow slgnSficantly and as at 31 December were 2691, 587 new in 2025 fcf 2024.. 2702.. 2023.. 2625,. 2022.. 2154,. 2021.. 1568,. 2020.. 1167.. 2019.. 1058., 2018.. 905,. 2017.. 717,. 2016.. 665,. 2015.. 616..). Membershlp Income In 2025 totalled £425,15812024: £420,143). Membership isthe highest it has been sSnce records were Introduced in 1996. Prlmary care, GPS and Nurses total 1673 and account for 62% of our members12024- 1660161%,. 2023.. 1610161%,. 2022: 1,245158%). This significant increase in membership demonstrates the continuing developlng interest in this area of women's health and the demand for authorltative Informatlon, educatSon and guidance, based on national and international guidplines. Post Reprodurtlve Heulth IPRHI-the quarterly Journal of the Brltlsh Menopause Society Eddie Morrls and Heather Currle, the editors, together wlth associate editors, Tony Mander and Paul Slmpson, traSnee editor Babu Karavadra and news editor Simon Brown are to be congratulated on their hard work and dedication to the joumal thmughout 2025. PRH Is an Increaslngly well-received Sour of news, research and opinion and is a valued and important part of BMS membership. Post Reproductive Health, the journal of the BMS, has been publlshed by Sage 51nce 2013. The current publishing agreement was due for renewal on 31 December 2025 and we were contractualty requlred to give one year's notlce to Sage if we wished to terminate the contract. The board, in conjunction with the editor5, made the declslon to termSnate the contract and put the publishlng of the journal out to tender. This involved a lengthy process of putting together a tender document, 5eekings interviewing and appointing new publishers. A shortlisf of three publishers was selected.. Sage (contractually sage had the right to tenderl, Taylor & Francis and Bi05cientifica. Taylor & Francis were appointed as publisher5 of the journal in September. There was a transition period though until the end of 2025 and, as we go to print, the first PRH published by Taylor & Francls Is appearlng through your letterbox.
Publlcatlons New BMS and WHC resources publlshgd In 2025: BMS Tool for Clinicians.. Measurement of serum estradiol durin8 the menopBu5e transition BMS Tool for Cllnlcians,. Use of Incretin-based therdpies in wornen using HRT BMS Tool for ClinSclans.' Managlng sleep dlsturbance during the menopause transitlon WHC Fact Sheet: Heart health and cholesterol In menopause WHC Fact Sheet: Digestive health and menopause WHC F8Ct Sheet: Alcohol and menopause BMS and V4lHC resources updated In 2025: BMS Consensus Statement.. Genitourinary Syndrome of Menopause IGSMI BMS Tool for Clinicians.. Pre5cribable alternatives to HRT BMS Tool for Cliniclan5.' Cognitlve Behaviour Therapy ICBTI for Menopausal Symptoms BMS Tool for Clinicians.. HIV and the menopause BMS Tool for Clinicians.. Menopause in the workplace guidance WHC Fact Sheet.. Sur8ical Menopause WHC Fact Sheet.. Contraception for women overthe age of 40 WHC Fact Sheet- Understanding and managing sleep problems during the menopause WHC Fact Sheet: Menopausal hair loss Management of the Menopause 7th Edltlon Work began on the seventh edltion of the BMS handbook, Monogement of the Menopouse. Haitham Hamoda kindly a8reed to be the boovs editor and publication of the revlsed edltion Is due In June 2026. Websltes The BMS webslte Is an invaluable source of informatlon and guidance for healthcare professionals. The importance of on demand registration for the annual scientific conference and other courses became increasingly apparent, as was the facility to renew and sign up for membership. An important benefit of membership 15 the members, forumi gwing the opportunity to raise general best practice clinital queries and recewe responses from council member5. The forum 15 Somewhat underused but is slowly increasing and is a faclllty of Ereat potentrdl. The WHC web51te continues to be an excellent resour for women with gynaecologltal and sexual health issues. BMS Menopause Specialists The register, established in June 2016, continues to grow with 512 HCPS recognised as registered BMS specialists by 31 Decernber 202512024.. 446,. 2023: 3861. The online register of BMS menopause specialists comprises 247 NHS clinics12024'. 2131 and 420 private Clini{2024- 3371. The online reglster was launched on World Menopause Day, 18 October 2018 and thi5 interactive, easily navigable register is unique to the BMS. Considerable work went into the onllne register from MAC definition of a 'menopause specialisy post the publication of the 2015 NICE guideline,. to webslte development and to the revlewln& assesslng and administrative process involved In registration. The process is ongoing with new specialists being added on a regular basls. Every three years, BMS menopause specSalists are requlred to apply for rere8Sstratlon. io
The NICE Guideline, Menopuu5e.' identlfic(rtlon and management ING231 was revlewed and updated in November 2024 and the levised guideline stated.. Healthcoreproftssional with experttse in menopouse Heolthcore profe55iona15 Wlth speciallst knowledge, skills and trolnlng who fln tollaborrtion wit the relevuntspeciolistsl manage, or advise colleogues in managingi complex menopause-reloted needs ond rlskfoctors affetting declslon maklng, includirtg.. complex medicolproblems thatpotentially affect Use of treatmentsfor menopause os50CiOted symptoms menopouse ossoclotedsymptomsfor those atelevatednsk of breostor ovarion concer, or wlth t7 personalhlstory of hormone dependent cancer. Thelr trolnlng should be recognlsed by u profrsslonolbody such os the Britlsh Menopt7USE Society, the Faculty of Sexuol t7nd Reproducttve Heolthcore or the Royul College of Obstetricians ond Gyn(Jecologists. The focus has therefore changed and NICE has revlsed Its termlnology, no longer referrlng to 'Menopause Spetialistg. The board is conslderlng the Impllcations of thls change of focus and in terminology and will review the BMS speclallst prograrnme accordlnglv. Medla Menopause enloyed an unprecedented amount of medla coverage during the year. Numerou5 lebritIeS, Journalists and others published books and gave interviews across all medla, in particular social media. This increased profile was welcomed by the BMS. tt has become apparent however, that the heightened profile has also generated the dlssemination of far more informatlon- and mlslnfomiation. This 15 Potentially unhelpful when women and their partners are seeklng sound advice and trustworthy guidance. In October 2023, the BMS engaged Transform Communications, a media company, to generate medla Interest In the work of the BMS and to handle media enqulrfes. The Transfomi team provided a good service, but it became apparent that the Society needed a full-tlme member of staff to manage the comrnunicatlons function. Therefore, Transform were given notice at the end of March 2025 and planning began to recruit new stsff member. World Menopause Day The 2025 World Menopause Day theme was'The Role of Lifestyle Medicine In Menopau1 Health,. The Menopause Wellness Hub on the Women's Health Concern website was promoted extensivelyi highlighting Ihe videos & factsheets on nutrition, exercise, weight management, digestive health and sleep generally and how lifestyle medicine can make a difference specifically. Management & Admlnistratlon BMS team The BMS team of ei8ht members of staff, work under the direction of the chief executive and cover the broad, busy and challenging management and admlnistratwe functions necessary to run the Society. The BMS is Iri the fortunate position to have a hard-working team who relish their responsibilities and work over and above their contracted hours with passion and with commitment. Five of the team are part-tirne, with the office administrator. membership administrator and chief executive working full-time. li
The requirement for high quality menopause education, Informatlon and guldance contlnued to Increase durlng 2025, Attendance at the face-to-face annual Scientific conference, the virtual educational rlleetings and courses- membership numbers. enqulries and requests from HCPs- members and non-members- women, their partners and the me(iia were at an all-time hiEh and the team responded efficientlyi effertively and with gooij humourl In November 2024,10 Oxley was appointed as membership administrator. We were saddened to leam at the beginnlng of the year of her untlmely death on 23 December. In the few weeks she worked with us, Jo proved to be conscientlous and fitted in really well with the team. There was a celebration of her life in January 2025 and It was encouraging to learn from her father and brother that she was really enjoying her newjob and working with her new colleagues. Interviewing be8an for a new membership adminlstrator on 30 January and we are delighted to report that Jenni McGill started with u5 Qn 3 March. Jenni has rnade a very good start, is providing excellent support to Nadine and Blready'owns, the day-to4ay membership functlon. Nadlne Verstringhe, BMS Membership and Educatlon Programme ManaEer, contlnues to develop the educatlon programme, maintaining the high standard of the online education package and direrting the Management of the Menopause CertifScate IMMCI. A comprehenslve revlew of the BMS Advanced Certificate began In October. We are grateful to Anne MacGregor for the phenomenal arnount of work and dedication she has expended on this revlew. Anne Is now formally Educational Adviser to the BMS. Haitham Hamoda and Heather Currie are also integral to the review as are Nadine and Hazel Riley. In addition, Nadlne has Snvested conslderable tlrne, energy and commltment In, researchinEi sourcing and managing the process of Implementlng a Client Relationship Management ICRMI System, supported by Hazel. Hazel Riley was promoted to BMS Education Technical Lead to reflert her increased expertise and responsbblllty, together wlth her support of Nadlne and the education function generally. Sarah Haveron lones seamlessly managed the recrultment of Jennl MCGIII, the new Membership Administrator and also worked closely with Kate Ellis on the journal tender document Sarah very successfully contlnues her role as Conference and Events Manager organising the online meetings, together with the two f2f flagshlp events.. the annual scientific conference and the WHC annual SyrnPDsium. Sarah and Nadine, together with Hazel Riley and Helen KSrkaldSe, manage the education programme efficlently effectively and with great good humour. In addition to her support to the educatlon team, Helen Kirkaldie is integral to the smooth running of the office. Kate Elli5 wa5 the maln polnt of contact wlth the medla company Transform Communltatlons. Followlng thelr departure, Kate worked with Barbara Halstead, our marketing ConSuant, to ensure the smooth running of the communlcations funrtlon before the appolntment of a CommunlcatSons Manager. Kate is responsible forthe BMS and WHC websites and all resources contalned thereln. In October, Kathy Abemethyft a former chair of the BMS and a trustee, undertook the rule of BMS Resources Advisor. Thls has been a transformative development for the Society. Kathy can provlde regular and tlmely clinical Input and expertise, together with a clinical overview. Kate provide5 excellent Support to the Chief Executive and, in addltion. she sits in an ex officio capacity on the board of tnJ5tees and medical advisory eouncil. Kate's meticulous attention to detail, excellent writing ski115 and conscientious approach make her an invaluable member ofthe team. Sara Burns manages the financial funrtion of the Society- and so much morel 2025 saw the Societvs end-of- year results show a turnover in excess of £2.2 million. Sara manages all aspects of the audit with calm, pragmatic efficiency. 12
In addltion to her finance and audlt role. Sara manages HR, the IT function, the managernent of the bulldlng and, in 2025, yet another office rnovel As the soclety grows, there is a need to future-proof our business. The opportunity arose to move 'acmss the car park, to larger, newly refurbished offices. Sara managed the move with her usual commltted, positlve aplomb. The Society could nat operate wlthDUt S3ra. Consultant Barbara Halstead has provlded marketing support to the BMS and WHC for alrnost twenty years. Barbara works dili8ently and with great care, managln8 marketlng, social media, the conference and symposium exhibitors and WHC webslte advertising. In addition, this year, Barbara worked closely with Kate to ensure the smooth runnlng of the communScations. functlon. With the imminent appointment of a full- tlme tommunications manager, the board made the declsSon to bring the marketing role in-house a5 part of this new post. Barbara leaves the BMS with sincere thanks and all good wlshes for her next venture. The commitment, hard work and dedlcation demonstrated throughout 2025 has been exemplary and the board congratulates the whole team, Five organi5ations work behind the scenes and contrlbute to our work and to our success. Jockson Bone is a design and web management agency in Brighton. Andy Bone is responslble for BMS branding and designs all BMS literature, including the conference programme. Ably assisted by Andyi the BMS and WHC enjoyed a rebrand. The logos were'freshened up and the new look is clean and modern. Mariette Jackson has managed the BMS and WHC website5 for more than 10 year5. Its up-to-date content and fresh style 15 largely down to her. We have recelved excellent seNice from KCS itd, our n IT support tompany. KCS, under the direction of MD Dan Gregor, specialise In IT solutions and support for not-for-profit and charltles. Crunch Accountlng provides an efficient accountancy service to the charity- Lynn Sheppard's charity knowledge is invaluable and she and her team work closely wlth us on our bookkeepin& as well a5 management and the annual accounts. Knox Cmpper undertakes the annual audit of the BMS and the financial statements preparation. The fifth 'behind-the-5cene< organisation is Ventrls TV. Bjorn Ventri5 has once agaln been integral to the BMS throughout 2025, recordinE and editing numerous presentatlons for our education programme. Bjorn has helped the BMS deliver our high*uallty education in a m05t professional way. As there are only two f2f meetings and we are settled in venues, it was with regret that we ended our association with Global Venue Solutions. We have worked with Andrew Whiteley for more than ten year5 and he has sourced most venues for our educational programme over that perlod. Andrew's negotiating ski115 in keeping costs down, his follow up and hls attention to detail are second to none. Ourthank5 to Andrew for hls Invaluable help over a long period. We wish him well. The board offers its thanks to Andy and Mariette, Andrew, Dan and h55 team, Lynn, Nita & Tracyi Richard, Anna & Corina and Bjorn for their support. Commerclal 5UPPOrters Durfng 2025, exhibition stands and WHC website advertising were provided by- Andro Pharmaceuticals, Aspen Pharma, Astellas, Bayer, Besins Healthcare. Consilient Healthcare, Dr Wolff, Exeltis, Gedeon Ritcher, Harley Street At Home, Indorsia, Orion Pharma, Pelvic Relief, Pharmacare, pharmacierge, Theramex, Vernacare, Vitabiotics, Viveca Biomed and The Yes Company. FINANCIAL OVERVIEW The end of year figures show income of £2,225,67612024'. £1,953,555), expenditure of £1,274,56812024'. £1,204,080), 3 surplus of £953,49912024'. £750,9201 and therefore reserves are £2,900,80412024'. £1,947,305). The board of trustee5 records it5 formal thanks to ourchlef executive for managing the society so efficiently throughout another challenging year. 2025 was another busy year in terrns of activities, educational output and also our continued ensagement in the wider worl(l of women'5 health. Our Standing and respect throughout the medical profession, the media and the general publlc Is second to none. 13
Interest in the menopause and the appetite for eVIden-based, peer-reviewed educatlon continues to increase. The proliferation of misinformation is also Increasin& and it Is Important that HCPS and women alike have access to authorltatlve education and information which adheres to r>ational and international guidance. The BMS continues to be a key source. via consensus 5tstements and guidelines, our website, rnembers, bulletins and news alerts and through our Journal, Post Reproductive Heolth. We wlll continue to provide education, Information, guldance and 5UPPOrt for our members, the wlder world of healthcare professionals and for women and their partners and family. statement of Trustees. Responslbllltles The trustees (who are also the director5 Of the BMS for the purposes of company lawl are responsible for preparing the Report of the Trustees and the findnclal statements in accordance with applicable law and United Kingdom Accounting Standard5 Iunlted Kingdom Generally Accepted Accounting Practlcel. Company law and Charity law require the tru5tee5 to prepare financial statements for ea¢h financSal year, which give a true and fairview of the state of affalrs of the charitable company and of the incomlng resources and applltaiion of resources. including the income and expenditure of the charilable company for that perlod. In preparing those financlal statements, the trustees are required to Select suitable accounting policles and then apply them consistentlyi Observe the methods and principles in the Charity SORP,. Make judgements and estlmates that are reasonable and prudent,. Prepare the financial statements on the goin8 concern basls unless it is inappropriate to presume that the charitable company will continue in buslness. The trustees are responslble for keeping proper accounting records which disclose with reasonable accuracv at any time the financial position of the charitable company an(1 to enable them to ensure that the financial statements comply wlth the Companie5 Act 2006. They are also responsible for safeguarding the asset5 of the charitable company and hence fortaking reasonable steps for thÈ prevention and detection of fraud and other irregu13ritles. In 50 far as the trustees are aware.. There is no relevant audlt informatlon of which the charitable company's audttor5 are unaware,. and The trustees have taken all Steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that informatlon. This report has been prepared in accordance with the special provisions of Part 15 of the Companie5 Att 2006, relatlng to sm411 companies, By Order of the Trustees on 24th June 2026 JanSce Rymer ITrusteel 14
Independent oudltorfs report to the trustees of the Brltlsh Menopause Soclety forthe year ended 31 December 2025 Oplnlon We have audited the financial statements of the BrStlsh Menopause Society Ithe 'charitable compan) for the year ended 31 Dernber 2Q25 which cornprise the statement of financial activities lincluding the income and expendlture accountl, the balance sheet, statement of cash flows and notes to the financlal 5tatement5, including a surnmary of significant accounting pollcie5. The financial reporting frawllework that ha5 been applied In their preparation is appllcable law and United Kingdom Accounting Standards, Including Financial ReportinB Standard 102 The Financial Reporting StondL7rd applicable the UK and Republic of Irelond (United Kingdom Generally Accepted Accounting PrdCtII. In our opinion, the financial statements.. give a true and frdir vlew of the state of the charitable companls affalrs as at 31 December 2025 and of its incomlnE resources and applicatlon of resources for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pradice,. have been prepared in accordance with the requlrerllents of the Companies Act 2006. Basls for oplnlon We conducted our audSt Sn accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitie5 under those Standards are further described in the Auditorfs responsibllitles for the audlt of the financial statements section of our report. We are Independent of the charitable comparry in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, Including the FRC.'s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe that the audit evidence we have obtalned is sufflclent an(1 approprlate to provide a basis for our opinlon. Concluslons relatlnl to golng Concern In auditing the financial statement5. we have concluded that the trustee5' Use of the golng concern basls of accounting In the preparatSon of the financial statements is approprlate. Based on the work we have performed, we have not identified any material UnrtaIntieS relatlng to events or conditions that, Sndividually or collettivelyi may cast slgnrficant doubt on the charitable companvs ability to continue as a going concern for a period of at least twefve months from when the financial statements are authorlsed for issue. Our re5ponsibilitles and the responslbilitles of the trustees with respect to going concern are described in the relevant sectlons of thls report. Other Informatlon The other infom)ation comprises the information Included in the annual report. other than the financlal statements and our audStorfs report thereon, The trustees are responslble forthe other infoymation. Our opinion on the flnanclal statements does not cover the other information and, except to the extent otheiSe expl1c1t stated In our report, we do not express any form of assurance concluslon thereon. In connection with our audit of the financial statements, our responsibility 15 to read the other informatlon and, in dolng so, conglder whether the other information Is materlally inconsistent with the financial statements, ur our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such materlal Inconsistencies or apparent material misstatements, we are required to determlne whether there is a material mlsstatement in the financial statements or a material rnisstatement of the other information. IF, based on the work we have performed, we conclude that there 15 a material rnisstatement of this other information, we are requlred to report that fart. We have nothing to port in this regard. 15
Independent audltorfs report to the trustees of the Brltlsh Menopause Soclety for the year ended 31 December 2025 Oplnlon5 on other matters pre$rylbed by the Companies Act 2006 In our opinion, based on the work undertaken in the Course of the audlt: the Information given in the report of the trustee5', which includes the dlrettors, report prepared for the purposes of company law, for the financial year for whlch the financlal statements are prepared Is conslstent with the financial statements,. and the directDf5' report Included within the report of the trustees, has been prepare(I In accordance wlth applicable legal requirements. Matters on whkh we arn requlred to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment obtslned In the course of the audit, we have not identified any material misstatements in the dlrectors, report Included within the trustees, report, We have nothing to report In respert of the followin8 matters Sn relation to which the Companies Act 26 requires u5 to report to you if, in our opinlon.. adequate accounting records have not been kept, or returns adequate for our audlt have not been received from branches not vlsited by us,. or the finantlal statements are not in Bgreement wlth the accounting record5 and returns; or certain disc105ures of trustees, remuneration specified by law are not made; or we have not recelved all the information and explanatlons we require for our audit,. or the trustees were not entitled to prepare the financial statements in accordance wlth the small companies regime and take aijvantage of the small companie5, exernption from the requirement to prepare a Strategic Report or In preparlng the Report of the Directors Responsibilitles of trustees As explained more fully In the statement of tru5teeg responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for belng Satisfied that they give a true and fairview, and for such internal cor)trol as the trustees determine is necessary to enable the preparation of financial statements that are free from material mi55taternent, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the companVs ablllty to continue as a going concern, disclosing, a5 applicable, matters related to going concern and uslng the golng concern basis of accounting unless the trustees elther intend to liquidate the company orto cease operations. or have no realistic alternative but to do so, 16
Independent auditorfs report to the trustees of the British Menopause Society for the year ended 31 December 2025 Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether dLJe to fraud nr &rrt)r. and to issijp an 31Jditnr'% rppnrt that inr.liJdp4 nijr opinion. Reasonable assurance 15 a high level of assurance but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material mi5Statement when it exists. Misstatements can arise from fraLJd or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularllles, Includlng fraud, are In51ance5 of non-compllance wlth laws and regulatlons. We deslgn procedures in line with our responsibilitie5, Outlined above, to detect material misstatements in respect of irregularitie5, including fraud. The extent to which our procedures are capable of detecting irregtjlarities, including fraud is detailed below.. The Charitable Company is required to comply with both company law and charity law and, based on our knowledge of its artivities, we identified that the legal requirement to accurately account for restricted funds was of key significance. We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls. The audit team, which is experienced in the audit of charities. considered the charitable company's 5Usceptibility to m&terial iiii55tateiiient aiTrd liow fraud iiiay occur. Oui- coiisidei-atioiis iiicludèd ilie risk of management override. Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure wa5 charged to restricted funds. This included reviewing journal adjustments and unusual transattions. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or auditorsres onsibilitie5. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Art 2006. Our audit work has been undertaken, so that we might state to the charitable companws members those matters we are required to state to them in an auditor'5 report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable companvs members as a body, for our audit work, for this report or for the opinions we have formed. Richard BillinghL*rst FCA (Senior Statutory Auditor) for and on behalf of Knox Cropper LLP Chartered Accountants and Statutory Auditor 65 Leadenhall Street London, EC3A 2AD 0910712026 17
rri ti t rrio ! I! Ln o) f olno
BRITISH MENOPAUSE SOCIErY BALANCE SHE AS AT 31st DECEMBER 2025 Notes 2025 2024 FIXED ASSETS Tan8lble Assets Investments io li 44,043 5,469 49,512 15,418 3,078 18,496 CURRENT ASSrrs Stock Debtors Cash at Bank and in hand 12 13 258 40,174 3,040,357 3,080,789 1,505 45,160 2,205,446 2,252,111 CREDITORS.. Amounts falling due within one year NET CURRENT A55Ers 14 1229,4971 1323,3021 2,851,292 1,928,809 NET ASSErs 2.900,804 1,947,305 FUNDS Restricted Fund5 Unrestricted Funds 15 15 2,900,804 2,900,804 1,947,305 1,947,305 The flnanclal statements We approved by the Trustees on 24 June 2026 and were slgned on thelr behalf by: Janlce Rymer (Chalrl Company Registratlon Number.. 02759439 Charity Reglstration Number.. 1015144 The notes form part of these financial statements 19
BRITISH MENOPAUSE SOCIErY STATElVtENT OF CASH FLOW AS AT 315T DECEMBER 2025 2025 2024 Cash flows from operatlng artlvltles: Nèt cash provlded byllused in) op8ratlng artfvltles 803,152 910,170 Cash flows from Investing actlvltles: Dlvldends and interest from Investments Purchase of property, plant and equipment Net cash provided byllused In) In¥estin8 a¢tivitl¢s 70,027 138.2681 31,759 29,559 11451 29,414 Chan#e In cash and cash equlvalents In the reportlng perlod 834,911 939,584 Cash and cash equlvalents at the baglnnlng of tho reporting perlod Cash and cash equlvalenls at the end of the reportlng perlod 2,205,446 1,265,862 3,040,357 2.205.446 Re¢on¢iliatlon of net Incomellexpendlturel to net ¢ash flow from operatin8 activities 2025 2024 Net incomellexpenditurel for the reportlng perlod Depreciation charge5 IGalnsl/losses on Investments Dividends and interest from investments IlncreaselldeeYÈase In stock Ilncreaselldecrease in debtors Increaselldecreasel in creditors Net cash provldedby/(used In) operatlng artlvltles 953,499 9,643 12,3911 170.0271 1,247 4,986 193,8051 803,152 750,920 5,203 11,4461 129,5591 2,057 79,740 103,255 910,170 20
BRITISH MENOPAUSE SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025 Accountlng Policies Basls of prnparatlon of accounts The flnancial statements of the charitable companyi which is a public benefit entity under FRS 102, have been prepared in accordancè with the Financial Reporting Standard 102 and with the Charities SORP IFRS 1021 "Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Flnancial Reportlng Standard applicable In the UK and Republit of Ireland IFRS 1021 (effective l January 20191" and the Companies Act 2006. A55ets and liabilities are initially recognised at historical c05t or transactlon value unless otherwise stated Sn the relevant accounting polley note. The Trustees consider that there are no material uncertalntles about the Charity's ability to continue as a going oncern. Incoming resources All incoming resources are Included on the Statement of Flnancial Actlvltles when the charity Is legally entltled to the income and the amount can be quantified wtth reasonable acturacy. Deferred income represents amounts received for future periods and is released to incoming resources in period for which it has been recelved. Resources Expended Liabilities are recogni5ed as expenditure, intlusive of iryecoverable VAT, as soon as there is a legal or cDnstructive obligation committlng the chariiy to that expendfture, It Is probable that a transfer of economlc beneflts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accruals basis and has been classlfied under the headings that aggregate all cost related to the category. Where costs cannot be dlrectly attributable to particular headlngs they have been allocated to activities on a basis conslstent wlth the use of resources. Fund 8ccountin¥ UnrestriLted funds can be used in accordance wfth the charltable objectives at the discretlon of the trustee5. Restricted funds can be used for particular restricted purposes within the objects of the charlty. Restriction5 arise when specified by the donor or when funds are ralsed for particular restrleted purposes. Tan8ible fixed assets Depreciation is provided at the following annual rates In order to write off each asset over its estimate(l useful IIFe. Plarst and machinery et£. Computer equipment 20% reducing balance 33% straight line 21
BRITISH MENOPAUSE SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025 Stock5 Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxatlon The charity Is exempt from corporatlon tsx on it5 charltable activities. Pension The charllable cornpany operates a deflned contributlon pension scheme. Contributions payable to the eharitable compan¢s penslon scheme are charged to the Statement of Financial Activitie5 in the period to which they relate. Judgements and key sources of estlmatlon uncertalnty No judgements (apart from those Involving estimates) have been made in the process of applying the above accounting pollcies that have a significant effect on amounts recognised in the financial statements. Grants and donatlons 21)25 2024 Donatiorbs 1,052 3,654 1,052 3,654 Investment Income 2025 2024 Deposrt account Interest Imie5tment income 69,929 98 29,465 94 70,027 29,559 22
BRITISH MENOPAUSE SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T DECEMBER 2025 Income from ¢harltable actlvltlès Total 2025 Totsl 2024 Membershlp fees Membership fees Educatlon MMC CBT meeting Income Annual conference WHC symposium Income WHC other income PPMC Advanced Certificate RCOG rneeting BMS masterclass Exhlbltion Income Other income Royalties Other incomlng resources Publication intome 425,158 420.143 1,194.376 45.675 297,822 64.285 6,800 19,630 10,192 31,175 54,750 957,026 39,425 302,337 76,145 7,723 10,20] 11,526 39,805 44,5CQ 2,399 550 1,785 3,537 2,124 5,851 2,154,597 1,920,342 5. Expendlture from charltable a¢tivitles Dirert Support Total 2025 Total 2024 Education Publication costs Legal costs IDSARI 310,404 94,136 171,962 576.502 527,429 113,987 56,650 698,066 837,833 208,123 228,612 1,274,568 1,016,064 188,017 1,204,081 Compurative 2024 Direct Support costs Total 2024 Conference and meetinBsIEducatlon Publication custs 508,554 94,105 602,659 507,510 93,912 601,422 1,016,064 188,017 1,204,081 23
BRITISH MENOPAUSE SOCIErY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2025 6. Support costs Management Flnance Governance costs Totsl 2025 Other resources expended 641,168 42,694 14,204 698,066 Comparative 2024 Mana£effnt Flnance Govemance 5ts Total 2024 other resources expended 551,708 32,125 17,589 601,422 7. Nel Income/lexpenditure) Net income/lexpenditurel is stated after charging: 2025 2024 Depreciation- owned assets Operating leases Auditor5, remuneration for audit 9,643 21,555 10,500 5,203 19,361 10,020 8. Staff and Related costs 2025 2024 Wages and Salaries Social Security Costs Pension Costs 382,835 36,896 6,388 426,119 313,260 27,700 4,813 345,773 No No The average number of employees during the year was: The number of employee5 whose employee benefits Includlng employerfs natlonal Insurance (excluding employer pension costs) exceeded £60,OLKJ wa5.. £90,001- £lOO,ot The Chief Executive Officer represents the Senior Management. The total employee benefits paid to key managemenl personnel during the year amounted to £108,51312024.' £107,424). 24
BRITISH MENOPAUSE SOCIETY NOTESTO THE FINANCIALSTATEMEfrirs R THE YEAR ENDED 1ST DECEMBER 2025 Trusiees, expenses Nine trustee512024- four trusteesl were reimbursed expenses totalllng £2,58212024.' £5,9931- 10. Tanglble fixed assets Plant and machinery Computer e4uipment Totsls Cost At l January 2025 Additions Disposals At 31 December2025 20.216 2,060 15,615 36,207 35,831 38.267 22,276 51,822 74,098 Depreciation At l January 2025 Charge for the year Disposals At 31 December 2025 13,485 3.059 6,927 6,584 20,412 9,643 16,544 13,511 30,055 Net book value at 31 December 2025 5,732 38,311 44,043 Net b¢KJk value at 31 December 2024 6,731 8,688 15,418 11. Flxed assets Investments Llsted investments Mèrket Value At ljanuary 2025 Galnslllossesl on market value 3,078 2,391 5,469 Net book value At 31 Oecember 2025 At 31 December 2024 5,469 3,078 There were no investments assets outside the UK. 25
BRITISH MENOPAUSE SOCIETY NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025 12. Stocks 2025 2024 Finished good5 258 1,505 13. Debtor5: Arnounts lalllng due within one year 2024 2024 Trade debtors Prepayments and accrued income Other debtors 2,870 37,304 35,160 10,000 45,160 40,174 14. Credltors: Amounts fallln8 due withln one yèar 2025 2024 Trade credltors Accruals and deferred income 76,327 153,170 61,447 261,855 229,497 323,302 15. Funds Balance 01101125 Income Expenditure Galnsl Iloosesl on Investment Balance 3111¥25 General funds Restricted funds 1,947,305 2,225,676 11.274,5681 2,391 2,900,804 1,947,30S 2,225.676 11.274.568) 2,391 Galnsl Ilossesl on Investment 2,900,804 Comparative 2024 Balance 01101124 Income Expendlture Balance 31112124 General funds Restricted funds 1.196,385 1,953,555 11,204,081) 1,446 1,947,305 1,196,385 1.953,555 11,204,081 1.446 1,947,305 26
BRITISH MENOPAUSE SOCIETY NOTESTO THE FINANCIALSTATEMES FOR THE YEAR ENDED 31ST DECEMBER 2025 16. Analysis of net assets between funds Unrestrlcted Restrirted Total 2025 Flxed Assets Net Current Assets 49,512 2,851,292 2,0,804 49,512 2,851.292 2,900,804 Cornparative 2024 Unrestrlcted Restricted Totsl 2024 Flxed Assets Net Current Assets 18,496 1,928,809 1,947,305 18,496 1,928,809 1,947,305 17. Related Party Transaction$ One trustee 12024: three trustee) recelved remLtneratlon for facilitating service5 totslling £2,480 12024- £2,500). There were no other related party transaction5 in either the current or the prior year. 18. Golng concern The trustees have reviewed the financial position of the charlty, and in particularthe level of reserves, and on the basls of current prolectlons, they are satlsfled that the charlty remains a going concern for the foreseeable future. 19. operatIr leases Minimum lease payments under non-cancellable operating leases fall due as follow5.. 20Z5 2024 Land and bulldlng Other Land and building Other Falling due within one year Falllng due between one and five years Falllng due later than five years 27,000 108,000 1.116 2.756 17,( 68.(hJO 389 680 42,750 177,750 5,667 90,667 3,872 1,069 27