# **European Federation of Societies for Ultrasound in Medicine and Biology (EFSUMB) Registered UK Charity 1016118** # **Trustees’ Report March 2021** This report has been prepared by the EFSUMB Trustees registered with the Charity Commission according to the Statement of Recommended Practice requirements that all charities must follow: ## **• Objectives and activities** ## EFSUMB’s objectives are to: - promote the science, the research and development of ultrasound in Medicine and Biology and to publish the results of research - to propose standards and to give advice concerning criteria for optimum equipment and techniques and clinical applications - to arrange congresses and study and development meetings on an international level both in and outside Europe by the member organisations, including organising, in co-operation with a local committee, a European or World Congress for ultrasound in Medicine and Biology (WFUMB) - to represent the interests of its membership in WFUMB and in any other international organisation whose purposes are consistent with those of EFSUMB. ## **• Achievements and performance** ## _Research activities_ The last twelve months has seen the publication of the following EFSUMB papers: 1. Guidelines and Good Clinical Practice Recommendations for Contrast Enhanced Ultrasound (CEUS) in the Liver Update 2020 WFUMB in cooperation with EFSUMB, AFSUMB, AIUM and FLAUS 2. Dermatologic Ultrasound Position Statement 2020 3. Gastrointestinal US in Intestinal Emergencies 2020 4. Contrast-Enhanced Ultrasound-Adapted Bosniak Cyst Categorization 2020 5. Update on the use of contrast enhanced ultrasound in children 2021 1 The following papers are work in progress for publication in 2021 1. Gastrointestinal US Functional Disorders Part 7 2. Musculoskeletal (MSUS) Ultrasound two parts 3. Point of Care Ultrasound (PoCUS) Guidelines in Chest and Lung 4. Dynamic CEUS Ultrasound ## _Standards in US_ Training Recommendations work in progress for publication in 2021 1. Professional Standards in Ultrasound two parts 2. Head and Neck Training Recommendations 3. EFSUMB Safety Committee compiled information on safe performance of ultrasound scans and disinfection issues in context of COVID-19 ## _Courses and Congresses_ The EURSOSON 2020 congress planned for Bergen, Norway was cancelled along with a number of planned Schools in 2020 and 2021. One School proceeded as a hybrid meeting and EFSUMB recorded this for free access on the EFSUMB website. The EUROSON 2021 Timisoara, Romania meeting has been postponed to 2022. However, EFSUMB still organised some lectures online and the annual EFSUMB Young Investigator Session proceeded as an online competition. ## _Online Education_ EFSUMB has adapted to the pandemic with all committee meetings held online and by offering more webinars. Some were directly related to COVID-19 lung ultrasound but others continue the tradition of Contrast Enhanced US webinars and promoting newly published guidelines such as Dermatologic and Gastrointestinal Ultrasound. EFSUMB took advantage of the reduced external meeting activities to launch an upgraded and modernised website platform. The Student Committee contributed a Basic Ultrasound Atlas of Images for the site. ## _Cooperation with international organisations and Industry_ The next EFSUMB congress will be held jointly with the WFUMB and the Romanian National Society congresses in 2022. The cooperation agreement with European Society of Radiology has been renewed and an EFSUMB MSUS session will be held at European Congress of Radiology this year. 2 EFSUMB continues to cooperate sharing information on EFSUMB activities with Industry Partners through its elected representatives to encourage financial support of webinars, congresses and schools. ## _Impact of COVID19_ The pandemic has disrupted the physical meetings and reduced EFSUMB’s income but this has been offset by replacing physical committee meetings to online meetings. - EFSUMB’s annual congress EUROSON 2020 Bergen, Norway was cancelled and EUROSON 2021 Timisoara, Romania postponed to 2022. The knock effect was to require the date change of the planned EUROSON 2022 Riga Latvia to 2024 - Of the 13 planned Euroson Schools for 2020 only 3 were able to take place (one as a hybrid school offering online participation which was recorded and freely available on the EFSUMB website) - All of the planned Endorsed courses were cancelled as physical meetings and a few offered online - All Committee meetings have been held online thereby offsetting any reduction in income from external events and at the same time protecting all EFSUMB members with no contact. It is noticeable that the Committees have met more frequently and with greater number participation with online meetings - The web administrator and General Secretary have continued working from home. The EFSUMB website, despite the changes restricting some material in a members’ only section, saw increased visitor numbers. EFSUMB utilized and capitalized on this interest by offering more webinars and free access to the COVID19 website section with international links to safety information. The website restructuring was completed during the pandemic to provide a faster website platform. The prospects for 2021 are uncertain. Some Schools and Courses have been rescheduled for later in the year but it is too early to tell if these will be able to proceed as normal or will need to be switched to hybrid or purely online meetings. An Industrial Board Meeting has taken place this year to encourage Industry to support more webinars in 2021 (10 planned to date) and future school recordings. ## **• Financial review** Following several years with an annual surplus income, EFSUMB in 2019 had a net loss of 65,317 GBP (71,960 €). This loss was the result of a fall of around 21,000 GBP in membership income as the Swiss Society left EFSUMB and the amended Constitution reduced the membership fees payable by DEGUM to 33% of the total membership. Membership at the end of 2020 totals 15,365 with the vast majority from the 30 National Socieites. EFSUMB has 3 responded by inviting individual membership, continuing to promote Schools and Courses online for a small fee and selling individual chapters from the EFSUMB Course Book online. It is believed that EFSUMB can adjust to the reduced income by encouraging new National Societies and individual members to join and continuing to use the strategies imposed by the pandemic such as use of online meetings. The direct expenditure relating to the Societies’ activities include the stable (virtual) office and website costs, followed by the 1.5 USD for each EFSUMB member paid to WFUMB. 2020 will see a significant reduction in costs for supporting EFSUMB Committee meetings and attendance at the EUROSON congress. All guidelines consensus meetings have taken place online and with electronic voting. EFSUMB has invested income of approximately 150,000 GBP which is equivalent to three years administration costs. This reserve is maintained to ensure that the Federation can continue for a further three years using these funds to continue the work in progress and restructure to a new situation if required. ## _Plans for future period_ Guidelines projects are proposed to extend the PoCUS project to other organs, Multiparametic Imaging of the Pancreas, Liver and Small Parts and updates of existing guidelines. Increased online material will be made available to members including school recordings, book chapters, safety statements and position papers. The EUROSON 2022 congress will see EFSUMB lectures and sessions in a physical or hybrid meeting. ## **• Structure, governance and management** European Federation of Societies for Ultrasound in Medicine and Biology (EFSUMB) is a Registered UK Charity number 1016118 with the Administrative Office PO Box 72718 London SW19 9HD. The registered Trustees, Prof Paul Sidhu, Prof Adrian Lim and Prof Camel Moran are based in the UK and have participated during this reporting period and within EFSUMB Committees and are cognisant with EFSUMB policy. EFSUMB is governed by its Constitution which determines the structure of the Federation and is observed with elections held every two years which will be held electronically in 2021. Nominations are requested from all the member National Societies. In order to increase the country representation within EFSUMB Committees, members are co-opted from National Societies who have been unsuccessful in the election or who have skills that are required within the Committees. The administrative decisions are taken by the Executive Bureau with five elected positions, President, President Elect, Past President, Honorary Secretary and Treasurer and two coopted members. Specialist committees exist for Education and Professional Standards, 4 Publications, Safety and Student matters. Day to day administration is carried out by the Executive Secretary and a website Administrator accountable to the Executive Bureau in accordance with the Constitution. The remuneration of these workers is the remit of the Executive Bureau and is reviewed annually in the context of similar operating organisations. ## **• Reference and administrative details** The Trustees delegate the day-to-day administrative management of the charity to the General Secretary (at the time of writing this report) Mrs Lynne Rudd who has served in this capacity since 2009. Frequent meetings are held by the Executive Bureau to whom the General Secretary is accountable. The General Secretary’s liaises with the accountant to produce the annual financial report. Mr Christian Cooray of Hartley Fowler LLP, Tuition House, 27/37 St George’s Road, Wimbledon SW19 4EU. ## **• Exemptions from disclosure** No exemptions from disclosure are claimed as there are no payments to Trustees or EFSUMB committee members except for necessarily incurred expenses which are reimbursed according to EFSUMB approved policy. ## • **Funds held as custodian trustee on behalf of others** EFSUMB is the custodian trustee for an endowment fund provided by the French Ultrasound Society for a French Society nominated Thérèse Planiol lecture to be held at a EUROSON Congress and is provided to cover travel and accommodation. The fund currently stands at 3011 GBP. The annual CEUS School held in Munich, Germany receives the invoiced assistance of EFSUMB administration to raise sponsorship and reimburse speakers. A balance from the 2020 School of 34,463.60 euro is carried forward to 2021 and held by EFSUMB as a restricted fund for the course organisers Prof Dirk Clevert and Prof Hans-Peter Weskott. 5 ## **Report prepared on 30 April, 2021 by EFSUMB Trustees** **Prof Paul Sidhu Prof Adrian Lim Prof Carmel Moran London, UK London, UK Edinburgh, UK Trustee and Past President Trustee and Publications Trustee and Safety Committee Chair Committee Member** 6 REGIsT￿D CXARIfY NUMBEIL. 1016118 IOR Thl YIAR INDID 31 DEC2MBER 2020 FOR ULTRASOUND IN MEDICINE Ala) BZOLOGY H•rlJey LLP 27-37 st Ge￿ge,$ Rcod mb*dc Lonth SW19 4EU THE EUROPEAN FEDERATION OF ￿EriEs FOR ULTRASOUND IN MEDICINE AND BIOLOGY CONTEiifs OFTHE FINANCIAL sfATEMEPllS FOR THE YEAR ENDED 311)ec£MBER 2020 I to 4 Balanc• Sh••t Nots•tolh• FlnMd•l *atam•rt• 8 to 14 15 to 16 THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 D￿MBER 2020 The Injstees orewt thelr rewrt flnvAKlal staternents of ￿ charlty f{￿ the ￿ eThled 31 [￿mber 2020. The trust￿ have *rted ￿ prnviskjrs of AccounUNJ and RetyJtsNJ ty Charths.. Statement d R￿0MM￿￿￿ P appjkable to charities pwariTrJ thelr accounts In th2 ￿nandal RewrtkYJ StsThJaTd awllGth In UK and RepuiAk of ￿￿alKI IFRS 1021 leffert￿e l January 2019), OBJEcnvES At4D AcnvIfiES Objective5 and ain EFSUM8's oblethves are to.. . womote the sdeKe, researth aThl thvekpTh*rt of In Mad￿ne aTrJ and to publbth the rtsjlts of researth - to prr¥w *￿jarts to gfve &lvte cor£emlThJ crlterta fc* OFiOmum equIFfi￿t and t￿hnhI￿ dknkal appltstlo - to arrnNJe o)wresses and stt*Jy and d￿ment m2eUThJs on an Intematml *vel tth In and Europe ty the M￿tser organLsgU¢)ns, Induding organlslrvJ, In ctroreratic¥) wlth a Sxal ccmmlttee, a or Wc*fd corrtj￿s lor In med￿ne arnl (WFUMB) - to rep￿sent Interests of In WFIJMB aryl In ary other Intemthl cfjanlsauon ¥¥lw purpgses a Can￿stert wlth Ij￿ of EFSUMB. Publlc b•nofft The have wlth the (kty In s￿￿On 17 of tr* Chart*s kt 2011 to have due regard to pu￿* beneft a)ath Conwnlssbn. ACHIEVEMENT AND PERFOR1￿cl The List ￿1ve mnths has seen the wblkal&)n of tl* fc4th￿rwj EFSUMB paFets.' l. Gulde11￿$ aTha CJe [￿uStry to support mre ￿nats In 2021 {10 tD datel arn1 lubjre sthod rncordlws. FINANcfAL REVIEW Flnanclal ijosttlon Fc4thNJ seveRI year5 wlih an annual swF4LLq Incm, EWMB In 2019 had a r*t loss las restated) of Sl,584 GWJ 156,301 fl. loss was re5uYc d a f&1 of ary￿nd 21,000 GBP In rnernberth￿ Income a5 the gwL8s ￿ety le EFSUMB arr￿ded Con511tuUon rojucej the membershlp fee5 payable by DEGUM to 33% 01 the totsl membeTsIIp. Membershlp at end of 2020 trtals 15,365 wth ￿ vast malorlty from the 30 Natio￿ knieltes. EFSUMB has spoThled ty In￿tIng IndI￿Ual memkrthlpi corrtlnuing to promote sch￿1$ and Courses onllne for a srnall fee and selllrrfj IndMdLo1 chapters frryn ￿ EFSVMB Course Bcpjk onllne. It Is t*lleved thot EWMB (an adjust to the redLKed Irthne by ermjraglrg rth NaVNal *¢leties and 1ndhid￿l members to i￿n and ¢x)ndnulwJ tts Use ￿ Strategles ImpKEed ty the p￿¥￿em￿ S￿h as L*e olmllne dI￿rt eKFendltwe rekitirrfj to the ￿letie￿ actfvlues IKlth8e th2 stable (￿rbjalI Of￿ aThJ cc6ts, fdllxed 1.5 USD for each EFSUMB men*r pald to WFUMB. 2020 ￿11 see a sljnrflont reduthm In costs for gJPF¥)rtlr EFSUMB Comrnlttee meetiThJs aThJ at V* EUROK)N e¢ngress. gulde11￿ consensus meeUThJs have taken Pla￿ online and wlth ¥oW. EFSUMB has IrNe5ted Incorr* Gl aFvoXImate￿ 150,OthJ GBP ts]ulvalent to three ￿ aJthLstrath)n cots Th reserve ts malrtalwl to ersure that the FederatKm can continue for ) fithr tfvee years uslN4 ilw furnls to continue tl* WO￿ In rryress and reStr￿tyre to a If requtred. THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY REPORT OF The TRUSTees FOR THE YEAR ENDED 31 DECEMBER 2020 Gulddlnes projects a￿ propc6ed to ex￿nd P￿s projett to c4h¥ orgar￿, MLd1ipara￿tiC tnkiglr4J of the Parueas, U¥er Small Parts and updates of exisiing 9￿d￿kn￿. I1￿￿Se￿ Onli￿ material wlll k TThide avalhtle to n￿MberS indudlrg reL0rd1￿6, boc& thapters, safety ststanents >w￿rS. The E1￿C60N 2022 cowss s EFSUMB and sessh)rts In a p￿ty￿cal or hY￿id meebng. Governlng do¢ument The charfty Ls ccrtrdled ty fG g)veN¥rs a d*J d tru* and consttiutes an unltKowaW thirty. O￿nI￿tional struthm EFSUMB ts &b)Ven￿ by ts Co￿￿tUr￿n whlch deterrr*& stULknre of the Ftskntkjn and ts obs￿￿ wlth ek hekl every years wlkh wlll te hekd e*ctrontally in 2021. NomlnatScffjs reque*eLI fmm all the Nauonal S)detles. In order to lTrJease the cwnty re￿￿￿￿on wlthln EFSUMB Commlttees, mernbers ¥e CCrOPted frorn NaU¢ml Sxleoes hwe uNiccessful In ￿ dectm or have skjlls are T8Julred Yjlthin the Crynrnlttee& l>•dthM makin9 The ?￿r￿n￿tratsve dedslTh are taken ty the Exeathe Bumau wfth fve electsl t￿￿r￿, p￿S￿￿t, PfeskJErt Ele¢ Pa# Pre51kn¢ &¢Jetsry TreaSu￿r and ts%r) Co￿p￿j mernbu5. SpedalL5t committees exL¢ fcf Educath)n and Profes4wl StsTrJard8 Publtsuons, S31ety aTrJ Student mattets. Day to thy adn￿nL5traIS￿ Ls canled by the Secretary aTrJ a ￿te ￿￿mInIStratOr acccwntsÈ4e to the ExKuilve Bureau In ar￿anTr th the CNSU￿0n. Tne rem￿￿ of these wot*ers Is rernlt d the EX￿the BL￿u aThY 15 tedkwal In the centext of s(mllar cperaVrwJ organlsath)Th REFeRENCE ANDADMINisfRATIVE DEfAILS Regist¢r￿ Charfty numb•r 1016118 Prlnclpal ad(trw• P O Box 72718 Immwc SW19 9HD Trust• Prof Paul &Jhu L0Thjc￿, UK Tru*ee aThJ pst presthnt Prof Llm Londcn. UK Pmfcam￿I f•ffin Ed1ntr￿rgh, UK Tru*ee aTrJ 5Jfety comrthttee rn￿ber Ind•p•nd•rt Ex•mln•r ma￿eY FO￿￿r LLP O*rtered Acojuntants 4th Fhjor Tuf(lon House 27-37 St Ge￿$ Rc4d SW19 4EU THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND EN MEDICINE AND BIOLOGY REPORT OF ThE TRusfEES FOR THEYEAR ENDED 31 DECEMBER 2020 FUNDS H&D AS cusfoDIAN FOR OTHERS EFWM8 15 ￿ oJ*odlon trustee for an en(hJrnt pn)VKknJ Fre￿ Ultrn￿und gxlety for a Frenth &tlety nomlnated Thérè5e Hankl ￿c￿j￿ to be hebj & a EUROSCIN CongrÉqs aTrJ Is provlded to cover tsavel and actDmcthlJon. fund c￿n￿y siaThls & 3011 GBP. The annua CEUS SdKK)I hdd In MLnkh, Gern￿nY rece￿ts Itwolced asIStsn￿ cl EFSUMB admlnl*rntth to ralse swn50th1p arKI relmbjrse Speak￿5. A balarKe from tt* 2020 &hYJl of 34,463.60 ojro 15 carrted to 2021 arxl hdd by EFSUMB as a resiricted fuThl for the COLxse or93￿￿5. The tnjstees are reswtslble for pwparfng the Repcrft cl the frustees aThl the flrtanfJal statements In accordan￿ appllcabk Unlted ￿Tr3dOM Ac¢ounUrrfJ starKJa￿s (Unlted KJngdom Generdlty Accepted ACCO￿tI￿ Prattke) Ir￿￿￿r@ Anwi*l Repordng Stsndard 102 'Tr Fkna￿I Repor￿ng StaThlard appllcaile In tr* UK and Republt L irdaTrf law to tharIt￿ In England and Wles, ￿ CharfUe5 Art 2011, thatlty (ACC￿rtS and Reprt) Reguladons 2¢)08 and the pr¢￿￿on$ of the trust deed requlres the trustees to prepa￿ fina￿al staternents for each fina￿la1 year ¥¥hkh glve a true and flr view of stste of affalTS of the th)riiy and of the I￿orn1r0 re￿jUr￿ and appllcatkm of re￿￿s, I￿ud1￿j ￿ I￿Yfie ex[￿1th, of the tharfty fcf that pertod. In ￿part￿j those nnarfal statements, are requI￿d to se* Sutsb￿ accryjntlng pdkle5 aTrJ Il*n apply COn￿Sten￿. obseNe the n￿th￿ts and pr1ndp￿S In the Charfty SORP,. make ludgerrents aTrJ estlmates that a￿ ￿sOnable aTrJ prLRlent,' p￿pare t￿ flnandal 5taiements on t￿ g)Irq COn￿M basls unless * ts Injpwcwlate to prewrne tr* diarfty wll ccfiYnuE In tAtslness. The tru#ees are ￿￿oft￿b￿ fcr keeplng proper a¢ctyJnUng rectrds whth dlxkn5e wth rta93nable acrurB¢y at any ￿rre t￿ flnanc4al Wtton of the tharfty and to enable them to ensure that the knndal ststements cornNy wlth the 0￿￿treS Act 2011, Charfty (Accounts and Repoits) Regulalong 2008 and Ihe FrovWons of the tnjst deed. They are a19) resP)r￿ts1e for safeguardlrKJ the assets of the dwrtty aTrJ for trktNJ Tea9JnJtle steps for preverfjon and detectlon of fraud and other Irre9uL4rt￿es. by cKdErrfts kard cl trustees on 30 WII 2021 sb>ièJ cffl ts tehalf by.. PrdPS hu. Trustee INDEPENDENT EXAMINER'S REpoi¥f TO THE TRUStEES OF THE EUROPEAN FEDERATION OF SoCI￿]Es FOR ULTRLSOUND IN MEDICINE AND BIOLOGY Indep•nd•nt examinevs ￿P￿t ts tht of The Europtan F¢d¢rntlon 01 SoLielle5 For ullro$0￿ In Medklne And Biology I ￿x)rt to ￿ d)artty tnjstees on my exaMirWti￿ accojnts of The Ewrwn Fojernlbjn (Y ￿elIe5 For Ultra%MJnd In Medi￿t￿ And Bic4¢)3y (theTrust) for the yearerk*d 31 t)&ern￿r 2020. Responslbllltles and basljof As ts chartty trustee5 of you are wns*1￿ for the prepa￿On ￿thJnts In aCt￿L￿r[e wfth the requIren￿ts ￿arIt￿SALt 2011 {'the Prt). I rer*Jt In res¥*tt cl my examina1￿) c(the Trus¥s ac(wnts cam8J iyjt under 145 cl the Act arKI In carrylThJ crf my eYAmlnadon I have followed all ap[￿Kab￿ ￿rectths gfven Charlty Comnmsson Ul￿r 14515}Ibl of tt Independent •xamlnerfs siJtsm•nt I l¥ave my exwnlnaljon. I ccrfirm that Tr) n*rfal r￿tte￿ o)me to my In t￿neCi￿ examlnaUcn gmrrfj me cause to tdeve that In any materlal respKt.' a¢(￿ntIng were I￿t kept In reyct d the TrL& as requked by sedlc4) 130 of ts A4. Ihe xcounts th) nLt accord wth tfv)5e r￿[￿S,. or C￿nts th• Trjt Cempty wlth t1￿ app1kab￿ YequtrerrErts the fcffm cortert ol 3cttyJnts set In the C1¥3rit4es (Aco)unts and Rep￿ts) Rejulatth 200B other than any wuIrem￿t tst the xcounts gfve trL* ONI falr vlew whlch Is rK* a matter cw4dered as Fert of an Indep&￿ert examinalcfj. I have nts 0)￿emS aTrJ come ￿￿OSS Th) skn matters In ccnnethc￿ tl* examInJ¥￿ to wl*th attertbjn i* drawn In thb rw In orderto eTr3tle a prcyr uTrJerstsndlng c(the acwunts to be reach&J. Jonathan Ask Harw Fowler ¢JarteraJ AccounLalts 4th Fh))rTuit+)n Hc 27-37 st Ge￿e'S Wlmbledjn SW19 4EU 30 4Jrll 2021 THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY srATEMENT OF FINANCIAL AcrivrrIES FOR THE YEAR ENDED 31 DECEMBBi 2020 20 Totsl fuTrls 2019 Totsl fijnds fuTh fij INCOME AND EMDOWMENTS FROM t%JnaucLq￿d lega*s 93J69 93 98,824 IM36 Im6 (X￿r trndlrKJ artwes 8,901 8,901 1,783 53,967 1,752 T¢thl 105,089 105,089 154,615 EXPENDrruRE ees dur1￿ the year as fdl)ws: 2020 2019 SuFWt siaff ) erry)hws In excess of £￿,Co). THE EUROPEAN FEDERATION OF SOClEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL ￿ATEMENTs- contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 COMPARAllVES FOR THE sfATEMENT OF FINAf4CIAL ACTIVTr Totsl fijnds as r*teJ fvnd fuTrJ INCOME AfKI ENDOWMEritS FROM t*)nations aTrJ leg 98,824 Ger￿TrI adj￿￿eS 72 C*lv tr•Jing athties 53,967 1,752 S3,967 1,752 Totsl 154.615 154,615 EXPENDrnIRE ON arttable actlvltl•B Ge￿TrI activ1*5 207,295 207,295 Net galns on IrNethents 1.096 NEr ItlCOMEI(EXPENDrnIRE) {51,584) (51,5841 Tatsl fundB bwought ft4nvanl 450,576 3,011 453,587 398,992 3,011 402,￿3 10. PRIOR YEAR ADJUSTMRrir CompaRVve fkJure5 have t*1 9) as to m¢%e the flxed asset Insttherts that h*re knd￿ Wknln ca at ￿nk. The w eThl valujucn clfixed asset Invethnts h9s al*¢ i*en axrected. Fl*1 asset Inveknts have teen ￿stated frorn £57,104 to £70,837 as at 31 De￿rn￿er 2019 and Ihe c(rfntkirnUve gal￿(￿￿*5) on In¥eth￿ has be￿ from {£12,637) to £1,096 kn thE Staternert of flnandal ¥Uvttf&. TL*al fund5 ovT*d fcThgrd as * 31 D￿err￿er 2019 l￿fore Increa￿￿ ty £13,733, from £388,270 to £402,LIJ3. THE EUROPEAN FEDERATION OF SOCIEfiES FOR ULTRASOUND IN MEDIaNE AND BIOLOGY PIIJTES TO THE FINANCIAL STATeMewrs- contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 ii. Computer U1￿]ent At l January 2020 and 31 c￿rnber 2020 24,230 At l January 2020 Charge ts year 23,577 163 At 31 Decemtw 2020 23,740 MEr eooK VAWE At 31 DecemÈv 2020 At 31 C*ernbw 2019 653 11 FIXED ASSEf INVESTMENTS Inv8Stments MARKEf VALUE At l january 2020 70037 817 At 31 Cecember 2020 71,6S4 NEf BOOK VALUE At 31 Oecemtéy 2020 71,654 At 31 Eecernbw 2019 70,837 I In¥*th￿ts are l*hJ In M&G Ctorljes Flwj Intu& Furxl. 2020 2019 Trade deths Other debtor5 3M5 1,753 -12- THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY H￿rE5 TO THE FINANCIAL STATEMeNTS- conunued FOR THE YEAR ENDED 31 DEc￿BER 2020 aiEDifoR&' AMOUPllS FALUNG DUE VIrnIIN ONE YEAR 2020 2019 0￿r ¢JedIt￿5 ouals and dthed IrKcffle 29,Hl 26,910 24P)3 53?72 %351 Funds held Js •g•ts I￿lu(*d In thr uedltrys 15 É28,569 to hekl as èJent& The annual ￿￿5 ￿001 W In MU￿Ch, Gemwy rece￿￿ the InVoE￿j of EFgJMB *minl*Bkn to raise aTrJ ￿lM￿j1￿ speaket5. The ba13rKe carri8J lowrd to 20216 hdd by. EFSUMB as a fuTrJ the cowse organLsers.. The movem￿￿ kn kn(ts hebj a5 agents ¢*JriTrJ the year wtte as fclltrws: e 2020 26,799 23,706 {18,895) £ 2020 22,756 21,017 116,7821 1,578 BakrKe brWI￿ fThard Expernliture Year eTrJ foretgn oJrerKY trar&atbn 31,610 28,569 I& MOVEMENT IN FUMDS movemw In funds At 111120 adjustment 31112120 GenetBI fuTrJ 385,259 13,733 44,468 443,460 Therese Ha￿cl Furyj 3,011 3MII 3￿,270 13,733 44,468 446,471 tt nvy•V(*rt In lunts, ITrjud￿ In ts abrNe are as folws: IncomlTrJ R￿JrCeS Galns and Movunent in funds (knrnl fu 105,069 {61,438) 817 TOTAL FUNDS 105,089 161,438) 817 -1> THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDlaNE AND BIOLOGY NOTES TO THE FINANCIAL sfATEMENTS. contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 MOVEMENT IN FUNDS- eantlnued Comparntl%*sfor mD¥¢mtht In fvndB Net movement In fuThJs At 31112119 At 111119 GerERI fvTr 450,576 (Si,584) 398.992 Therese PL7￿4 FuTrl 3.OLI 3,011 TOTAL FUNDS 453,587 (SiA84) 402,C¥)3 Cryarthe rt mmMt In IndLKbJ In fv above as fc4M: Incomlng Resc4Jr res￿r￿ exFend Galns a￿1 losses Movemert In funds UnrnstllL￿ fvn Gethrnl fund 154,615 (207,295) 151,584) 154,615 (207,295) 1,096 (51,584) The Thértse Ffank4 Ls provlded by the FMch 5)c￿ty fcf a Fre￿ Wety n￿nInated PhNol rectu￿t0 be ￿ld at a EUROSThN Congress Jnd ts to travel ard accommcthvon CO#& re relatyj ￿rtY tsarnactk)ns for the year &wJed 31 ce￿rnber 2020. -14- REGIsT￿D CXARIfY NUMBEIL. 1016118 IOR Thl YIAR INDID 31 DEC2MBER 2020 FOR ULTRASOUND IN MEDICINE Ala) BZOLOGY H•rlJey LLP 27-37 st Ge￿ge,$ Rcod mb*dc Lonth SW19 4EU THE EUROPEAN FEDERATION OF ￿EriEs FOR ULTRASOUND IN MEDICINE AND BIOLOGY CONTEiifs OFTHE FINANCIAL sfATEMEPllS FOR THE YEAR ENDED 311)ec£MBER 2020 I to 4 Balanc• Sh••t Nots•tolh• FlnMd•l *atam•rt• 8 to 14 15 to 16 THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 D￿MBER 2020 The Injstees orewt thelr rewrt flnvAKlal staternents of ￿ charlty f{￿ the ￿ eThled 31 [￿mber 2020. The trust￿ have *rted ￿ prnviskjrs of AccounUNJ and RetyJtsNJ ty Charths.. Statement d R￿0MM￿￿￿ P appjkable to charities pwariTrJ thelr accounts In th2 ￿nandal RewrtkYJ StsThJaTd awllGth In UK and RepuiAk of ￿￿alKI IFRS 1021 leffert￿e l January 2019), OBJEcnvES At4D AcnvIfiES Objective5 and ain EFSUM8's oblethves are to.. . womote the sdeKe, researth aThl thvekpTh*rt of In Mad￿ne aTrJ and to publbth the rtsjlts of researth - to prr¥w *￿jarts to gfve &lvte cor£emlThJ crlterta fc* OFiOmum equIFfi￿t and t￿hnhI￿ dknkal appltstlo - to arrnNJe o)wresses and stt*Jy and d￿ment m2eUThJs on an Intematml *vel tth In and Europe ty the M￿tser organLsgU¢)ns, Induding organlslrvJ, In ctroreratic¥) wlth a Sxal ccmmlttee, a or Wc*fd corrtj￿s lor In med￿ne arnl (WFUMB) - to rep￿sent Interests of In WFIJMB aryl In ary other Intemthl cfjanlsauon ¥¥lw purpgses a Can￿stert wlth Ij￿ of EFSUMB. Publlc b•nofft The have wlth the (kty In s￿￿On 17 of tr* Chart*s kt 2011 to have due regard to pu￿* beneft a)ath Conwnlssbn. ACHIEVEMENT AND PERFOR1￿cl The List ￿1ve mnths has seen the wblkal&)n of tl* fc4th￿rwj EFSUMB paFets.' l. Gulde11￿$ aTha CJe [￿uStry to support mre ￿nats In 2021 {10 tD datel arn1 lubjre sthod rncordlws. FINANcfAL REVIEW Flnanclal ijosttlon Fc4thNJ seveRI year5 wlih an annual swF4LLq Incm, EWMB In 2019 had a r*t loss las restated) of Sl,584 GWJ 156,301 fl. loss was re5uYc d a f&1 of ary￿nd 21,000 GBP In rnernberth￿ Income a5 the gwL8s ￿ety le EFSUMB arr￿ded Con511tuUon rojucej the membershlp fee5 payable by DEGUM to 33% 01 the totsl membeTsIIp. Membershlp at end of 2020 trtals 15,365 wth ￿ vast malorlty from the 30 Natio￿ knieltes. EFSUMB has spoThled ty In￿tIng IndI￿Ual memkrthlpi corrtlnuing to promote sch￿1$ and Courses onllne for a srnall fee and selllrrfj IndMdLo1 chapters frryn ￿ EFSVMB Course Bcpjk onllne. It Is t*lleved thot EWMB (an adjust to the redLKed Irthne by ermjraglrg rth NaVNal *¢leties and 1ndhid￿l members to i￿n and ¢x)ndnulwJ tts Use ￿ Strategles ImpKEed ty the p￿¥￿em￿ S￿h as L*e olmllne dI￿rt eKFendltwe rekitirrfj to the ￿letie￿ actfvlues IKlth8e th2 stable (￿rbjalI Of￿ aThJ cc6ts, fdllxed 1.5 USD for each EFSUMB men*r pald to WFUMB. 2020 ￿11 see a sljnrflont reduthm In costs for gJPF¥)rtlr EFSUMB Comrnlttee meetiThJs aThJ at V* EUROK)N e¢ngress. gulde11￿ consensus meeUThJs have taken Pla￿ online and wlth ¥oW. EFSUMB has IrNe5ted Incorr* Gl aFvoXImate￿ 150,OthJ GBP ts]ulvalent to three ￿ aJthLstrath)n cots Th reserve ts malrtalwl to ersure that the FederatKm can continue for ) fithr tfvee years uslN4 ilw furnls to continue tl* WO￿ In rryress and reStr￿tyre to a If requtred. THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY REPORT OF The TRUSTees FOR THE YEAR ENDED 31 DECEMBER 2020 Gulddlnes projects a￿ propc6ed to ex￿nd P￿s projett to c4h¥ orgar￿, MLd1ipara￿tiC tnkiglr4J of the Parueas, U¥er Small Parts and updates of exisiing 9￿d￿kn￿. I1￿￿Se￿ Onli￿ material wlll k TThide avalhtle to n￿MberS indudlrg reL0rd1￿6, boc& thapters, safety ststanents >w￿rS. The E1￿C60N 2022 cowss s EFSUMB and sessh)rts In a p￿ty￿cal or hY￿id meebng. Governlng do¢ument The charfty Ls ccrtrdled ty fG g)veN¥rs a d*J d tru* and consttiutes an unltKowaW thirty. O￿nI￿tional struthm EFSUMB ts &b)Ven￿ by ts Co￿￿tUr￿n whlch deterrr*& stULknre of the Ftskntkjn and ts obs￿￿ wlth ek hekl every years wlkh wlll te hekd e*ctrontally in 2021. NomlnatScffjs reque*eLI fmm all the Nauonal S)detles. In order to lTrJease the cwnty re￿￿￿￿on wlthln EFSUMB Commlttees, mernbers ¥e CCrOPted frorn NaU¢ml Sxleoes hwe uNiccessful In ￿ dectm or have skjlls are T8Julred Yjlthin the Crynrnlttee& l>•dthM makin9 The ?￿r￿n￿tratsve dedslTh are taken ty the Exeathe Bumau wfth fve electsl t￿￿r￿, p￿S￿￿t, PfeskJErt Ele¢ Pa# Pre51kn¢ &¢Jetsry TreaSu￿r and ts%r) Co￿p￿j mernbu5. SpedalL5t committees exL¢ fcf Educath)n and Profes4wl StsTrJard8 Publtsuons, S31ety aTrJ Student mattets. Day to thy adn￿nL5traIS￿ Ls canled by the Secretary aTrJ a ￿te ￿￿mInIStratOr acccwntsÈ4e to the ExKuilve Bureau In ar￿anTr th the CNSU￿0n. Tne rem￿￿ of these wot*ers Is rernlt d the EX￿the BL￿u aThY 15 tedkwal In the centext of s(mllar cperaVrwJ organlsath)Th REFeRENCE ANDADMINisfRATIVE DEfAILS Regist¢r￿ Charfty numb•r 1016118 Prlnclpal ad(trw• P O Box 72718 Immwc SW19 9HD Trust• Prof Paul &Jhu L0Thjc￿, UK Tru*ee aThJ pst presthnt Prof Llm Londcn. UK Pmfcam￿I f•ffin Ed1ntr￿rgh, UK Tru*ee aTrJ 5Jfety comrthttee rn￿ber Ind•p•nd•rt Ex•mln•r ma￿eY FO￿￿r LLP O*rtered Acojuntants 4th Fhjor Tuf(lon House 27-37 St Ge￿$ Rc4d SW19 4EU THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND EN MEDICINE AND BIOLOGY REPORT OF ThE TRusfEES FOR THEYEAR ENDED 31 DECEMBER 2020 FUNDS H&D AS cusfoDIAN FOR OTHERS EFWM8 15 ￿ oJ*odlon trustee for an en(hJrnt pn)VKknJ Fre￿ Ultrn￿und gxlety for a Frenth &tlety nomlnated Thérè5e Hankl ￿c￿j￿ to be hebj & a EUROSCIN CongrÉqs aTrJ Is provlded to cover tsavel and actDmcthlJon. fund c￿n￿y siaThls & 3011 GBP. The annua CEUS SdKK)I hdd In MLnkh, Gern￿nY rece￿ts Itwolced asIStsn￿ cl EFSUMB admlnl*rntth to ralse swn50th1p arKI relmbjrse Speak￿5. A balarKe from tt* 2020 &hYJl of 34,463.60 ojro 15 carrted to 2021 arxl hdd by EFSUMB as a resiricted fuThl for the COLxse or93￿￿5. The tnjstees are reswtslble for pwparfng the Repcrft cl the frustees aThl the flrtanfJal statements In accordan￿ appllcabk Unlted ￿Tr3dOM Ac¢ounUrrfJ starKJa￿s (Unlted KJngdom Generdlty Accepted ACCO￿tI￿ Prattke) Ir￿￿￿r@ Anwi*l Repordng Stsndard 102 'Tr Fkna￿I Repor￿ng StaThlard appllcaile In tr* UK and Republt L irdaTrf law to tharIt￿ In England and Wles, ￿ CharfUe5 Art 2011, thatlty (ACC￿rtS and Reprt) Reguladons 2¢)08 and the pr¢￿￿on$ of the trust deed requlres the trustees to prepa￿ fina￿al staternents for each fina￿la1 year ¥¥hkh glve a true and flr view of stste of affalTS of the th)riiy and of the I￿orn1r0 re￿jUr￿ and appllcatkm of re￿￿s, I￿ud1￿j ￿ I￿Yfie ex[￿1th, of the tharfty fcf that pertod. In ￿part￿j those nnarfal statements, are requI￿d to se* Sutsb￿ accryjntlng pdkle5 aTrJ Il*n apply COn￿Sten￿. obseNe the n￿th￿ts and pr1ndp￿S In the Charfty SORP,. make ludgerrents aTrJ estlmates that a￿ ￿sOnable aTrJ prLRlent,' p￿pare t￿ flnandal 5taiements on t￿ g)Irq COn￿M basls unless * ts Injpwcwlate to prewrne tr* diarfty wll ccfiYnuE In tAtslness. The tru#ees are ￿￿oft￿b￿ fcr keeplng proper a¢ctyJnUng rectrds whth dlxkn5e wth rta93nable acrurB¢y at any ￿rre t￿ flnanc4al Wtton of the tharfty and to enable them to ensure that the knndal ststements cornNy wlth the 0￿￿treS Act 2011, Charfty (Accounts and Repoits) Regulalong 2008 and Ihe FrovWons of the tnjst deed. They are a19) resP)r￿ts1e for safeguardlrKJ the assets of the dwrtty aTrJ for trktNJ Tea9JnJtle steps for preverfjon and detectlon of fraud and other Irre9uL4rt￿es. by cKdErrfts kard cl trustees on 30 WII 2021 sb>ièJ cffl ts tehalf by.. PrdPS hu. Trustee INDEPENDENT EXAMINER'S REpoi¥f TO THE TRUStEES OF THE EUROPEAN FEDERATION OF SoCI￿]Es FOR ULTRLSOUND IN MEDICINE AND BIOLOGY Indep•nd•nt examinevs ￿P￿t ts tht of The Europtan F¢d¢rntlon 01 SoLielle5 For ullro$0￿ In Medklne And Biology I ￿x)rt to ￿ d)artty tnjstees on my exaMirWti￿ accojnts of The Ewrwn Fojernlbjn (Y ￿elIe5 For Ultra%MJnd In Medi￿t￿ And Bic4¢)3y (theTrust) for the yearerk*d 31 t)&ern￿r 2020. Responslbllltles and basljof As ts chartty trustee5 of you are wns*1￿ for the prepa￿On ￿thJnts In aCt￿L￿r[e wfth the requIren￿ts ￿arIt￿SALt 2011 {'the Prt). I rer*Jt In res¥*tt cl my examina1￿) c(the Trus¥s ac(wnts cam8J iyjt under 145 cl the Act arKI In carrylThJ crf my eYAmlnadon I have followed all ap[￿Kab￿ ￿rectths gfven Charlty Comnmsson Ul￿r 14515}Ibl of tt Independent •xamlnerfs siJtsm•nt I l¥ave my exwnlnaljon. I ccrfirm that Tr) n*rfal r￿tte￿ o)me to my In t￿neCi￿ examlnaUcn gmrrfj me cause to tdeve that In any materlal respKt.' a¢(￿ntIng were I￿t kept In reyct d the TrL& as requked by sedlc4) 130 of ts A4. Ihe xcounts th) nLt accord wth tfv)5e r￿[￿S,. or C￿nts th• Trjt Cempty wlth t1￿ app1kab￿ YequtrerrErts the fcffm cortert ol 3cttyJnts set In the C1¥3rit4es (Aco)unts and Rep￿ts) Rejulatth 200B other than any wuIrem￿t tst the xcounts gfve trL* ONI falr vlew whlch Is rK* a matter cw4dered as Fert of an Indep&￿ert examinalcfj. I have nts 0)￿emS aTrJ come ￿￿OSS Th) skn matters In ccnnethc￿ tl* examInJ¥￿ to wl*th attertbjn i* drawn In thb rw In orderto eTr3tle a prcyr uTrJerstsndlng c(the acwunts to be reach&J. Jonathan Ask Harw Fowler ¢JarteraJ AccounLalts 4th Fh))rTuit+)n Hc 27-37 st Ge￿e'S Wlmbledjn SW19 4EU 30 4Jrll 2021 THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY srATEMENT OF FINANCIAL AcrivrrIES FOR THE YEAR ENDED 31 DECEMBBi 2020 20 Totsl fuTrls 2019 Totsl fijnds fuTh fij INCOME AND EMDOWMENTS FROM t%JnaucLq￿d lega*s 93J69 93 98,824 IM36 Im6 (X￿r trndlrKJ artwes 8,901 8,901 1,783 53,967 1,752 T¢thl 105,089 105,089 154,615 EXPENDrruRE ees dur1￿ the year as fdl)ws: 2020 2019 SuFWt siaff ) erry)hws In excess of £￿,Co). THE EUROPEAN FEDERATION OF SOClEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL ￿ATEMENTs- contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 COMPARAllVES FOR THE sfATEMENT OF FINAf4CIAL ACTIVTr Totsl fijnds as r*teJ fvnd fuTrJ INCOME AfKI ENDOWMEritS FROM t*)nations aTrJ leg 98,824 Ger￿TrI adj￿￿eS 72 C*lv tr•Jing athties 53,967 1,752 S3,967 1,752 Totsl 154.615 154,615 EXPENDrnIRE ON arttable actlvltl•B Ge￿TrI activ1*5 207,295 207,295 Net galns on IrNethents 1.096 NEr ItlCOMEI(EXPENDrnIRE) {51,584) (51,5841 Tatsl fundB bwought ft4nvanl 450,576 3,011 453,587 398,992 3,011 402,￿3 10. PRIOR YEAR ADJUSTMRrir CompaRVve fkJure5 have t*1 9) as to m¢%e the flxed asset Insttherts that h*re knd￿ Wknln ca at ￿nk. The w eThl valujucn clfixed asset Invethnts h9s al*¢ i*en axrected. Fl*1 asset Inveknts have teen ￿stated frorn £57,104 to £70,837 as at 31 De￿rn￿er 2019 and Ihe c(rfntkirnUve gal￿(￿￿*5) on In¥eth￿ has be￿ from {£12,637) to £1,096 kn thE Staternert of flnandal ¥Uvttf&. TL*al fund5 ovT*d fcThgrd as * 31 D￿err￿er 2019 l￿fore Increa￿￿ ty £13,733, from £388,270 to £402,LIJ3. THE EUROPEAN FEDERATION OF SOCIEfiES FOR ULTRASOUND IN MEDIaNE AND BIOLOGY PIIJTES TO THE FINANCIAL STATeMewrs- contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 ii. Computer U1￿]ent At l January 2020 and 31 c￿rnber 2020 24,230 At l January 2020 Charge ts year 23,577 163 At 31 Decemtw 2020 23,740 MEr eooK VAWE At 31 DecemÈv 2020 At 31 C*ernbw 2019 653 11 FIXED ASSEf INVESTMENTS Inv8Stments MARKEf VALUE At l january 2020 70037 817 At 31 Cecember 2020 71,6S4 NEf BOOK VALUE At 31 Oecemtéy 2020 71,654 At 31 Eecernbw 2019 70,837 I In¥*th￿ts are l*hJ In M&G Ctorljes Flwj Intu& Furxl. 2020 2019 Trade deths Other debtor5 3M5 1,753 -12- THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY H￿rE5 TO THE FINANCIAL STATEMeNTS- conunued FOR THE YEAR ENDED 31 DEc￿BER 2020 aiEDifoR&' AMOUPllS FALUNG DUE VIrnIIN ONE YEAR 2020 2019 0￿r ¢JedIt￿5 ouals and dthed IrKcffle 29,Hl 26,910 24P)3 53?72 %351 Funds held Js •g•ts I￿lu(*d In thr uedltrys 15 É28,569 to hekl as èJent& The annual ￿￿5 ￿001 W In MU￿Ch, Gemwy rece￿￿ the InVoE￿j of EFgJMB *minl*Bkn to raise aTrJ ￿lM￿j1￿ speaket5. The ba13rKe carri8J lowrd to 20216 hdd by. EFSUMB as a fuTrJ the cowse organLsers.. The movem￿￿ kn kn(ts hebj a5 agents ¢*JriTrJ the year wtte as fclltrws: e 2020 26,799 23,706 {18,895) £ 2020 22,756 21,017 116,7821 1,578 BakrKe brWI￿ fThard Expernliture Year eTrJ foretgn oJrerKY trar&atbn 31,610 28,569 I& MOVEMENT IN FUMDS movemw In funds At 111120 adjustment 31112120 GenetBI fuTrJ 385,259 13,733 44,468 443,460 Therese Ha￿cl Furyj 3,011 3MII 3￿,270 13,733 44,468 446,471 tt nvy•V(*rt In lunts, ITrjud￿ In ts abrNe are as folws: IncomlTrJ R￿JrCeS Galns and Movunent in funds (knrnl fu 105,069 {61,438) 817 TOTAL FUNDS 105,089 161,438) 817 -1> THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDlaNE AND BIOLOGY NOTES TO THE FINANCIAL sfATEMENTS. contlnued FOR THE YEAR ENDED 31 DECEMBER 2020 MOVEMENT IN FUNDS- eantlnued Comparntl%*sfor mD¥¢mtht In fvndB Net movement In fuThJs At 31112119 At 111119 GerERI fvTr 450,576 (Si,584) 398.992 Therese PL7￿4 FuTrl 3.OLI 3,011 TOTAL FUNDS 453,587 (SiA84) 402,C¥)3 Cryarthe rt mmMt In IndLKbJ In fv above as fc4M: Incomlng Resc4Jr res￿r￿ exFend Galns a￿1 losses Movemert In funds UnrnstllL￿ fvn Gethrnl fund 154,615 (207,295) 151,584) 154,615 (207,295) 1,096 (51,584) The Thértse Ffank4 Ls provlded by the FMch 5)c￿ty fcf a Fre￿ Wety n￿nInated PhNol rectu￿t0 be ￿ld at a EUROSThN Congress Jnd ts to travel ard accommcthvon CO#& re relatyj ￿rtY tsarnactk)ns for the year &wJed 31 ce￿rnber 2020. -14-