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 pract1￿5 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 unde￿raduate 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 P￿stOn. 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 ret1￿ment 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 AC￿55 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 rese￿eS 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 2￿hOrItY 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 hea￿hcare
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 ac￿ssible 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 P￿tIng 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 ex￿lIent 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 o￿aniserS
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 Menopau￿1 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 ConSu￿ant, 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 De￿rnber 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 PrdCtI￿I.
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 Un￿rtaIntieS 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
othe￿iSe 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 2￿6
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£eff￿nt
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 FINANCIALSTATEME￿S
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