REGisfERED CHARrrY NUMBER: 1016118 REPORT OF THE TRusfEES AND FINANCIAL sfATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2023 FOR THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY HareV Fowler LLP awrtered AcCntants 4th Floor Tuition House 27-37 St Ge(Kge'5 Rckid Wimbledon London SW19 4EU
THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY CONTENTS OF THE FINANCIAL sfATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees I to 5 Independent Examine$ Report statement of Finandal Activltles Balan Sheet Nots8 to the Financl)I Statements 9 to 15 Detslled Ststement ol Finandal Acuvltles 16
THE EUROPEAN FEDERAnON OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the th8rity for the year ended 31 December 2023. The tnLStees have adopted the provisions of Accounting and ReportirKJ by uritieS-. Ststement of Recommended Prartice applicable to charities preparing their accounts in accordan wth the Financial Rep)rtlng Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effethve l January 2019). OBJECTIVES AND ACTivrriES Objertives and aims EFSUMB'S objectlves are to.. promote the science, the research and development of ultrasound in Mediane and Biology and to publish the results of research - to propose standards and to glve advi concemlng criteria for opumum equipment and techniques and clinical application5 to arrange congresses and study and development meetings on an international level both in and outslde Europe by the member organisattons, includlng organlsing, in co-operation with a kjcal committee, a European or Wodd Congress ft)r ultrasound In Medicine and Biology (WFUMB) - to work with organisations wlth shared objectNes to harmonise guldelines and to foster a closer relationship almed at promotlng the best of education in ultrasound across the European communlty to represent the Interests of its mernbershlp In WFUMB and In any other International organlsotion whose purposes are conslstent wlth those of EF5UM8. Public benefit The trustees hove complled wlth the duty In section 17 of the Charits'es Act 2011 to have due regard to publlc benefit guklance published by the Charlues Cornmlssion, ACHIEVEMENT AND PERFORMANCE Research activitles The last twefve months has seen the submlssion for publicatlon of the followlng EFSUMB papers.. I, EFSUMB Technlcal Revlew Update 2023., Ltynamic Contrast-Enhanced Ultrasound (DCE-CEUS) f(x the Quantiflcation of Tumor Perfuslon 2023 2. The EFSUMB Guldeline5 and Recommendatlons for Musculoskeletal Ultra50und Part II.. joint Pathologles, Pediatrlc Appllcations, and Guided Procedures 2022 The followlng papers are submitted or work In progress for publlcatlon In 2024,. l. Mults'pararnetrlc Ultrasound Small Parts hyrOld, Test6s) 2. ProfeSsIal Standards in MedScal Ultra50und Part B 3. Point of Care Ultrasound CPOCUS) for Primary Care Users 4. Thor7cic Ultrasound Training Recommendations 5. Curriculum for Sonographers Safety Ststements in US The following have been updated and are the most visited safety Statements on the EFSUMB webslte.. l. Best Prattice GUIdan for the Safe use of Doppler Ultra9)und [Last revlslon 2021] 2. Best Practlce recommendations for cleanlng and dlsinfectlcn of Ultra)Und transducers whllst malntaining transducer integrty [20211 3. EFSUMB Reccffnmendatlons on Non-medlcal Use of Imaglng Ultrasound [Last rev15ion 2021] 4. The use of ultrasound for cosmetlc or aesthetic b(xly shaping (2024) 5. Doppler ultrasound devices - Safety Aspects - Update 2022 The Safety Committee has a representative in WFUMB and Is invofved In harmonising safety guidelines between the intemational Federations.
THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Courses and congresses The EUROSON 2023 took ptace very successfully in Riga, Laa in May 2023. The war in Ukralne may have affected attendan in addition to the high registration fee for non-Baltic countries but there We vlsltors from 44 countrles and a highly successf Student Ultrasound Congress (sruo organised by the students themsefves and a SonoC2ve with thetTEd ultrasound hands c training with experts. The next COngsS tskes Pla In Naples, Italy 9- 11 November 2024 again with an incorporated Student Ultrasound Congress, Sonocave and the Young Investigator session to find the best cllnScal andlor technical presentation which will then be entered for the WFUMB Ywng InvestatOr Sesslon at WFUMB 2025 Kyoto, Japan. There will be no congress In 2025 as EFSUMB moves to blennial Cong9Se5 (alternang wlth WFUMB) but a Student Ultrasound Congress Is planned for Berlln, Germany 4- 6 September 2025. If Susul thls will lake pl In years altemating with the EFSUMB Congress. Nearly all of the 13 EUron *hools proeded as planned (with the eXptIon of a CEU5 course planned for SLa, Bulgarla) with topics ranging from US, Musculoskeletal, Paedlatric Radiology, Gastrointestinal Ultrasound, Point of Care Ultrasound and Demiatologic31 Ultrasound. Endorsed cr5e5 pred as planned offering specialist education In head and neck ultrasound, neonatal ultra50und and an Interventlonal Cadaver Course. All commlttee meetlngs contlnue to be he onllne extrpt when a COngsS is taklng pla. Online eduGition EFSUMB continues to offer educauonal webinars. The tradiuon of Contrast Enhanced Ultrasound webinars wlth 5UPPOrt from Bracco is contlnued wlth 2 focusing on Euran research aThJ 2 on Chlnese research developments. At the end of 2023 a new serie5 of CEUS courses was launthed featurlng one Chinese and one European speaker in each webinar on a 5peoflc toplc shanng internatlonal perspective& The Chinese team led by Prof Xie at Sun Yat Sen University trnnslate the presentstions Into Mandarln and these are on the website wlth subiltles in the weblnar arthlve sectlon. The onllne CordingS attract a lot of Interest. Cooperation wlth international oryanisations and Industry The Cooperaon agreement wlth European Soclety of Radiology has been renewed and a jolnt ESRIEFSUMB Ultrasound fLU5ed selon was held in 2024 whlch was well reIved, ESR is consl<lering an Ultrasound Diploma to which EFSUMB is hoping to be ited to contribute to the currlculum. The agreement with Unlted European Gastroenterology Is being renewed following the successful Ultrasound Learning Area at UEG Week which hos attracted more attendees than In past years to the lecture serk5 followed by hands-on 5e551ons wth machines loaned by industry. EFSUMB Is also involved in the UEG ultrasound summer School which is oversubscribed. An agreement has been slgned with ESNCH in 2023. ESNCH provldes a subsidised sesslon on neurosonolcyjy at EFSUMB'S congresses suppcrtlng thelr speakers and In 2024 It is h)ped thijt EFSUMB will send M speakers wlth vascular expertlse to the ESNCH c(ryress in AugusL The Objette Is to cordInate research and guldelines and promote each organisatlons, actsvities at congresses. EFSUMB continue5 to cwperate by sharing infoThatlon on EFSUMB actNitie5 with Industry partners to encourage flnanclal support of webinars, congresses and sCtK)ols. An Industrial Board Meetlng with Industry representatives wlll tske place In early 2024 to discu55 an indu5ty SpOnred technolffjy cLYner on the EFSUMB website as well as having a physlcal mtiThJ at EUROSON 2024. The EFSUMB Newsletter 15 publlshed in eath bssue of UiMIE]U (six times per year) with informatlon on EFSUMB artivities, The Publication CCnMIttee has intrOdUd a Journal Club which receives contrlbutions on recendy published artlcles which are reviewed and reccffnmended a5 relevant to members. eNew51etter5 are emailed up to gx times a year to alert members to cuent a(tivities. EFSUMB Website The EFSUMB website contlnues to see increased visitor numbers. Indmdual members, whith numbered 267 in 2023, slgn up to a55 the website and benefft fr(Mn congress registration reductions. Dlfferent rates are offered f(ff sbAent membershlp and knv-income cwntrfes along wth a dIOunt for 5-year membershlp.
THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Regular statlstical analysis is conducted to understand the Inte5t5 of EFSUMB website users - Webinar Archive is currenuy the m05t visited site, followed by Guidelines and Recommendations and the ullrasound course book (currentty undergoing the thlrd edition to indude videos). This information encourages EFSUMB to make these areas a priority. The main visltor traffic is from the United States of America folb)wed by Italy, China, UK, Gemiany and Taiwan. FINANCIAL REVIEW Financial position Totsl Income was £126,119 (2022 £126,318) and totsl expendlture was £145,756 (2022 £145,756). Net gains on Investrnerts were £616 (2022 £5,760 deficit). In 2023 EFSUMB incurred a deficit of £19,021 (2022 surplus £15,454). Membership at the end of 2023 totalled 17,208 with the vast majority from the 29 Natlonal Societie5, the Swiss Society which is an Affillate k(tety and individual membership accounting for 267. The Board of Delegates agreed to waive the fees for the Ukrainian sIety for 2023 and will continue to do so for 2024. The Russian Federation has made the membership payments which were Thjt possible with international banking restricttons In place. EFSUMB contlnues to promote Schools and Courses online for a small fee to cover the costs of promotion on soclal pnedia aThJ the website but the chapters from the EFSUMB Course Btyjk are again freely downloadable from the webslte. EFSUMB is adjustlng to reduced income by encouraging new National S¢xieties and Indivldual members to loin and cOnnUIng to use the strategles Imposed by the pandemlc such as use of onllne meeting& The direct expenditure relatlng to the Soclety's activities indude the stable (virtual) Offi and Webs costs, followed by the 1.5 USD for eath EFSUMB member paid to WFUMB. 2024 may cont6nue to see a continued reduction In costs by supportlng EFSUMB Committee meetlngs onllne but commlttee and offir attendan * the EUROSCMN coThJress wlll be encouraged and 5UPPOrted. Investsnent pollcy and objectives The trustees, Investment pollcy is so far as posslble, to malntain and Increase the real value of capltsl, whil* generating a stable and sustsinable retum to fund grart activltées. Investments are held In M&G Charlbond Charftses Fixed Interest Fund Income unlts and Sthrimlers Cazenove Charity Multi-Assel Fund accumulation units. Reserves pollc EFSUMB hohjs assets of approxlmatety £443,000 which is equivalent to three years administratlon costs. This reserve is maintained to ensure that the Federation can continue for a further three years using these funds to contlnue the work in progress and restnjcture to a new sltuation if the situauon required this FUTURE PLANS The plans for the future period Include continuallon of Guldellnes prgjects, extending the P(£US project to other organs, Multiparametric Imaging of the Pancreas and Liver O'oinUy with WFUMB) and updates of other existing guldellne5. Increased onllne material wlll be made available to members indudlng school recording5 where sponsored, safety statements and position paper5. The EUROSON 2024 congress will see a full prograrrime of leciure5 and sessions In a wide range of topirs, from Elastography to Veterinary Ultrasound as well as the Student CoryJre55 and SoTr)Cave SUPFQrted with loaned industry ultrasound machines and simulator5. STRucfuRE, GOVERNANCE AND MANAGEMENT Goveming document The tharity is controlled by its governlng document, a deed of trusi and constitutes an unincorporated charity.
THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 srRucfuRE, GOVERNANCE AND MANAGEMENT Organisational structure The European Federation of Societies for Ultrasound Sn Medicine and Biology (EFSUMB) is a Registered UK Charity number 1016118 with the Administrative Office, PO Box 72718 LCdOn SW19 9HD. The registered Trustees, Prof Paul Sidhu, Prof Adrian Llm and Prof Gimel Moran are based in the UK and have partldpated dutlrvJ this reporting perlod and within EFSUMB mtij$ and a cognisant with EFSUMB pollcy. EFSUMB is governed by its updated Constitutlon which determines the sthciure of the Federatlon and 15 obseNed with elections held every Iwo years which will be held electronlcally In 2025. These are reviewed from time to tlme and amendments prcwsed e.g. It was agreed that there should be a separatson behveen the ExUtfve and Board of Delegates in order to Increase checks and balance5 and give corporate govemance real Integrity. Nomlnatlons are requested from all the member Natlonal ScKieties. In order to increase the rePSentIon of smaller Sctleties within EFSUMB Cornmittees, members may be c(wted who have been unsUC5ful In the elecbon or who have skilLs that are required withln the Committees, Declsion making The admlnlstrative decisions are taken by the Executive Bureau vAth flve elected posltions, Presldent, President Elect, Past PresidenL Honorary Secretary and Treasurer and co-opted members, currently a General Practitioner and Radiologl*. Speciallst commlttee5 exlst for Educabon and Professl¢yal Stsndards, Publications, Safety and Student matters. Day to day administratlon is corrted out by the Executive Secretary an(i a web51te AdministrBtor accountable to the Executsve Bureau In accordance wlth the Constitution. The remunerauon of these workers Is the remit of the Executlve Bureau and Is reviewed annually in the context of simllar operatlng organlsaJons and folh)wlng a review of thelr efficlency and performance. The EFSUMB Guldelknes App Is now avallable to be freely downloaded by all ultrasound users. EFSUMB also promoted two Important guldelines for incluslon in the United European Gastroenterdogists (UEG) App. In 2024 the App wlll invite the World Federation of UILrasound in Medicine and Biology and Its Federation members to share thelr guidellnes on the App. Reference and administrative details The Trustees delegate the day-to-day administratlve management of the charity to the General Secretary (bt the time of writing thls report) Mrs Lynne Fiudd who has served In this capaoty slnce 2009. Frequent meetlngs are held by the ExecutSve Bureau to whom the General Secretary Is accountable. The website Admlnislrator, Mrs Suzanne Caln of Kosmos Design has sewed In thls capaaty since 2008 and is accountable to the General Secretsry in the first Instance. The General Secretary Ilalses wth the accountant and Independent Examiner to produce the annual flnanclal report. Hartley FOer LLP, Tultion House, 27137 St Georye's Road, Wimbledon SWI9 4EU. Exempttons from dlsclosurn No exempuons from d15dosure are clalmed as there are no payments to Trustee5 or EFSUMB commlttee members eXpt for rcessarIty Incurred expenses which are reimbursed according to EFSUMB approved policy. REFERENCE AND ADMINIsfRATIVE DEfAILS Re9iStered Charity number 1016118 Principal address P O Box 72718 Wimbledon LOTh SW19 9HD
ThE EUROPEAN FEDERATION OF SOCIETIES FOR ULTrASOUND IN MEDICINE AND BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAII ENDED 31 DECEMBER 2023 Pff)f Pdul Sdhu Lorth, UK Trustee arrfl past ert PrfAdrkn Li Lth, UK TnLStee arnl ctrcd EYB memtr Prof Canrl lthtrdn TNstee aTrJ commlitee meftlj Edinbjrgh, UK Independa Examlner Hath Fovler LLP Charter&l Acc(MJntsnts 4th Fknr TuIt House 27.37 St fNge's R(d WlnJledon Loth SWI9 4EU FUNDS HELD AS ciisfoDIAN FOR OTHERS EFSUMB Is the custtslian trustee an endowment fund provthl by the Ffenth UltraUnd Scrldy for a Frenth Sodety nominat8J Thèrè Pl)n kthjre to be hebj at a EUROS(hN Con9$5 15 provlth to cover travel and aC£lr)datiOn. The fvThl currath stsnds at £311. The annual 15 Sclw)ol held in Munlth, Germany reLehfs the asthno of EFSUMB wlth a fee to JM8 of 1000 eurn lor adMlnlatm to srIsO15hlp and TelmIx wkas. A ban frnm the 2023 Munith CEU5 Sth¢Jol of E20S56 15 carrkd lomayd to 2024 arKI EFSUMB as a re4thctul fund for tr Prof Dirkclvrt and Prnf Han5-r Weskot Ard ty rxder of Ihe ird of busts on 23 My 2024 and 51gnal on Its by: PPsKI
INDEPENDEKf EXAMINER'S REPORT TO THE TRusfEES OF THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND XN MEDICINE AND BIOLOGY Independent examinevs report to the trustees of The European Federation Of societi For Ultrasound In Medlclne And Blology I report to the chority trustees on my examinalion of the accounts of The European Federation Of Sodeties For Ultra9)und In Medicine And Biology (the Trust) for the year ended 31 December 2023. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requlrements of the atsritles Act 2011 (the ACV). I POrt In SpeCt of my examinatlon of the Trust's accounts carried out under Sectlon 145 of the Act and in carrying out my examinaVon I have followed all applicable Directions given by the Charlty MmIssion under Section 145(5)(b) of the Act. Independent examlner's statement I have completed my examination. I confimi that no materi81 matters have cCe to my attention In connecuon wlth the examinatlQn giving me cause to believe that In any material respett: accountlng records were not kept In respect of the Tnjst as required by Secknffl 130 of the Act; or the accounts do not accord with those record5. or the accounts do not comply wlth the applicable requirements concerning the form and content of ac£ounts set out In the Charities (Accounts and Reports) Regulatlons 2008 other than any requirement that the accounts gfve a true and falr vlew which is not a matter considered as part of an independent examlnatlon. I have no concerns and have come across no otsr matters in connection wlth the examlnauon to whlch attentlon shwid be dTrwn In thls report in order to enable a proper understandlThJ of the accounts to be reached. Jonathan kew FCA Hartley Fowler LLP Chartered Accountants 4th Floor Tultlon House 27-37 st George's Road Wlmbledc London SW19 4EU 23 July 2024
THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY srATEMENT OF FINANCIAL AcfIvITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDQWMENTS FROM Donations and legacies 107,764 107,764 96,750 Other tr3dlThJ actlvltles Investment Income 13,831 4,524 13,831 4,524 28,311 1,257 Totsl 126,119 126,119 126,318 EXPENDrruRE ON Charitsble activlties General activities 145,756 145,756 105,104 Net gainsl(losses) on investments 616 616 (5,760) NEf INCOMEI{EXPENDITURE) (19,021) (19,021) 15,454 RECONCILIATION OF FUNDS Totsl funds brought fotward 459,210 3,011 462,221 446,767 TOTAL FUNDS CARRIED FORWARD 440,189 3,011 443,200 462,221 The notes fonn part of these financial statements
THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY BALANCE SHEEr 31 I>ECEMBER 2023 2022 Unrestrf(led R&trIcl fu fur Total fur Tang assets Inveknts io li 1,253 141,191 1,253 141,191 1,670 138335 142.444 141444 140,005 12 6,435 336,030 6,435 339,041 S,134 360,058 Cash at bank 3,011 342,465 3,011 345,476 365.192 CReDThORS Arnounts fall1 the wthln cTh 13 (44,720) (44,no) (42,976) 297.745 3,011 300,756 322,216 440,189 3,011 443,2LYJ 462221 NEf ASSErs 440,189 3.011 44320) 462,221 FUNDS Unrestrlcted fvrnls Restrled fvnds 14 440.189 3,011 4S9,210 3,011 TOTAL FUNDS 443.2LY 462,221 The fin¥4dal aternts aFprmd by the Bc41rf dTrn#4¢S and ttrf$al ts issue on 23 Juty 2024 ar %ffre ¥gr on Its btha by: CLJIJL
THE EUROPEAN FEDERATION OF SOCIEfEES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL sfATEMEMrs FOR THE YEAR ENDED 31 DECEMBER 2023 GENERAL INFORMATION The charity Is a UK based charltsble tnjst. The athjress of ts reglstered Offi is P O Box 72718, Wimbledon, London, SW19 9HD. The registered number of the tharity 15 1016118. The flnancial Infomiauon presented is for the year ended 31 March. The pre5entstion currency of the financial statemerts is the Pound Sterling (£). Monetsry amounts In the financial siatements are rounded to the nearest Pound (£). AccouKfING POLICIES Basis of preparing the finanaal statements The financial &atements of the charity, whlch is a public benefit entyty under FRS 102, have been prepared in accordance with the Charitle5 SORP (FRS 102) 'Accounting and Reporting by Chariues: Ststement of Recommended Practi applicable to charities preparlng their accounts In accordance with the Finandal Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Finandal Reporting Stsndard 102 The Financial Reportlng Stsndard appllcable in the UK and Republlc of Ireland. and the Charitles Act 2011. The financial ststements have been prepared under the historical cost convention, th the excepuon of Investments which are included at market value, as rmdined by the revaluatlon of certain assets. Going concern The trustees consider that there are matedal UnrtaIntleS aut the chadty's abilty to continue as a going conM. In futu years, the key risk5 to the charity are a fall In income. The trustee5 have a serles of measures to control, mitigats and minlmlse the effects of a fall In Income, Includlng a prudent reserves policy. Financijl reportlng stsndard 102 - reduced disclosure exemptions The chartty has taken advantage of the fc41owing disclosure exemption In preparing these financlal statements, as permltted by FRS 102 The Financial Repjrtlng Stsndard applicable In the UK and RepublSc of Ireland.: the requirements of Section 7 Ststement of Cash Flow5. Income All Irne is recognised in the Statement of Financial Actlvltles once the charty has enutlement to the funds, Is probable tfrklt the incoffE will be received and the amount can be measured rellably. Expenditure LlabiliLies are recognised as expendlture as SC*)n as there is a legal or constructive obllgation commlttlng the charfty to that expenditure, it Is probable that a transfer of economSc benefits will be required in settlement and the amount crf the obligatlon can te measured reliab. Expenditure Is accounted for on an accrua15 basis and ha5 been das5ifled under heading5 that aggregate all cost related to the category. Where costs cannot be directly attrlbutsd to partlculor headings they have been allted to activities on a ba45 conslstent wlth the use of resources. Tanglble fixed assets Depreciation Is provided at the following annual rntes in order to write off each asset over its estimated useful life. Computer equlpment 250/0 cn reducing balae Fixed asset investments L6sted investments are initlalty recognlsed at transaction pri and subsequentty measured at falr value with referen to market value. Both realised and unrealised galns are recognlsed in the statement of financial activities. Foreign cuThencies ts and liabilrties in foreign currencies are translated into sterling at the rates of exchange rullng at the balan sheet date. Transaction5 in foreign currencies are translated into Sterling at the rnte exchange rullrrfJ at the date of transaction. Exchange differences are recognised in expenditure on charitable activities in the statement of rinancial acbvtties. Tantion The charity is exempt from lax on its charKable activities.
THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- contlnued Fund accourting Unrestricted funds can be used In accordance wfch the charitsble objectives at the discretion of the trustees. Re5tr1tted funds can only be used for particular resirlcted purposes Withln the objects of the charfty. Restricuons arlse when spedfled by the donor or when funds are ralsed for particular restrlcted purp05e5. Further explanauon of the nature and purpose of each fund is induded In the notes to the financial statements. Flnancial Instruments The charlty only has flnancial instruments of a klnd that qualify as baslc financial Instruments. Basic flnanclal instrwments are initially reCnised at transaction value ar¥J subsequently measured at their settlement value. Invegtments Investments are stated at fair value. Income arising on the investments is shown under Investnt IKome in the statement of Financlal Activltles. Galns and losses on Investment assets dIspd of in the year are shown as reallsed galns and losses In the ststement of Flnanclal Actlvltles. Galns and losses on Investment assets held at the year-end are unreallsed and are also shown In the Ststement of Flnanclal ALtlwties, Cash at bank Cash at bank includes bank deposlts and short term highly liquld investments with a short maturtty of three months or less from the date of acquisition or openlng of the deposlt or slmilar account. Trade and other debtors are recognlsed at the settlement amount due. Prepayments are recognlsed at the invoiced cost prepaid. Credltors Creditors are recognised when the charity has a present obllgation resultlng from a past event that will probably results In the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estlmated reliabty. Creditor5 are normalty recognised at the %ttlement amount. Impairment sets not measured ot fair value are revlewed for any indlcation that the asset may be impaired at each balance sheet date. If such indicatlon ex15ts, the recoverable amount of the asset, or the asset's cash generating unit, is e5tlmated and compared to the carrylng amount. Where the carrying amount exceed5 Its recoverable omount, an impalrment 1055 Is recogni5ed In profit or Soss unless the asset Is carried at a revalued amount where the impalrment1055 is a revaluation decrease. DONATIONS AND LEGACIES 2023 2022 Subscriptlons 107,764 96,750 -iO-
THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL STATEMEKfs - continued FOR THE YEAR ENDED 31 DECEMBER 2023 iJrHER TRADING ACnVITIES 2023 2022 Eur¢)gJn schojls, congresses and 55milar CEUS income 3,978 9,853 6,646 21,665 13,831 28,311 INVESTMENT INCOME 2023 2022 Invesbnent income Deposlt account Interest 4,524 1,256 4,524 1,257 CHARrrABLE AcfIvITIES COSTS Support costs (see note 7) Direct Costs Totals General actlvities 136,121 9,635 145,756 SUPPORT cosrs Infomiation technology Governance costs Flnance Totals General activities 6,818 417 2,400 9,635 Induded In Governan costs are fees (irKludlng Irrecoverable VAn to the Independert examlner of £1,200 for the Independent examlnatlon and £1,200 for accountsrLy servlces. Support co*s, Induded in the above, are as fcAIows,' Flnance 2023 General activities 2022 Totsl activitie5 Bank charges Lossl(gain) on foreign exchange 673 6,145 646 (18B19) 6,818 {17,673) -li-
THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 TRusfEes' REMUNERATION AND BENEFrrs There were no tNstees' remuneration or other bets for the year ended 31 December 2023 nor for the year ended 31 Dember 2022. Trustees, expenses The tNstees were reimbursed a total of £688 (2022 - £802) for exFenses Incurred on beha of the charty. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrivrrIES Unrestritted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donatbns and legacies 96,750 96,750 other tradlng actfvldes Investrnent income 28,311 1,257 28,311 1,257 T¢)tal 126,318 126,318 EXPENDrruRE ON Charitable artlvities General activitles 105,104 105,104 Net gainsl(losses) on Investments (5,760) {5,760) NEf INCOME 15,454 15,454 RECONCILIATION OF FUNDS Total funds brought forward 443,756 3,011 446,767 TOTAL FUNDS CARRIED FORWARD 459,210 3,011 462,221 io. TANGIBLe FIXED ASSErs Computer equipment cosr At l January 2023 and 31 December 2023 25,786 DEPRECIATION At l January 2023 Charge for year 24,116 417 At 31 December 2023 24,533 NEf BOOK VALUE At 31 Dernber 2023 1,253 At 31 December 2022 1,670 -12-
THE EUROPEAN FEDERATION OF SOCIEfIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 IL FIXED ASSEf INvEmENTs Listed investments MARKEf VALUE At l January 2023 Additions Revaluauons 138335 2,240 616 At 31 December 2023 141,191 NEf BOOK VALUE At 31 December 2023 141,191 At 31 Dember 2022 138,335 Investments are held In the M&G Chadbond Charities Flxed Interest Fund and Schroders tharity Multi-Asset Fund. or valuation at 31 December 20231$ represented by., Listed Investments Valuatlcm in 2021 valUatic In 2022 valuat1( in 2023 Cost (2,559) {5,760) 616 148,894 141,191 12. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2023 2022 Trade debtors Prepayments and accrued Income 6,435 4,868 266 6,435 5,134 -13-
THE EUROPEAN FEDERATION OF SOCIErrES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 13. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2023 2022 Cther creditors 44,720 42,976 Funds held as agents Induded In other creditors are funds held as agents. The annual Us Schvol held In Munich, Germany receives the invoiced assistan of EFSUMB administration to ralse Sp)nsh1p and reimburse speakers, The balance carried fOard Is hekl by EFSUMB as a fund for the course oryanIr5. The mvement In funds held as agents durfng the year were as follows.. £ 2023 20,225 23,000 (22,669) £ 2022 27,865 29,Ocl (36,640) Balance brought forward Income Expendlture Year end fOIgn currenoi translati¢Jn 20,556 20,225 MOVEMENT IN FUNDS Net movement in fund5 At 31112123 At 111123 Unrestrfrted fund5 General fund 459,210 (19,021) 440,189 Restricted funds Therese Planiol Fund 3,011 3,011 TOTAL FUNDS 462,221 (19,021) 443,200 Net mvement in funds, Included In the above are as follows., Incoming re9)UeS Resources expended Gains and losses Movement in funols Unre5trtcted funds General fund 126,119 (145,756) 616 (19,021) TOTAL FUNDS 126,119 (145,756) 616 (19,021) -i+
THE EUROPEAN FEDERATION OF SOCIETIES FOR ULTRASOUND IN MEDICINE AND BIOLOGY NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 14. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31112122 At 111122 Unrestricted funds General fund 443,756 15,454 459,210 Restritted funds These Planlol Fund 3,011 3,011 TOTAL FUNDS 446,767 15,454 462,221 Comparatfve net movement In funds, induded in the alx)ve are as follows., Incomlng regJurces Resources expended Gains and losses Movement in funds Unrestrlcted funds General fund 126,318 (105,104) (5,760) 15,454 TOTAL FUNDS 126,318 (105,104) (5,760) 15,454 The There Planlol fund is provlded by the French Ultra93urvJ Society for a French Soclety nomlnated Thérèse Planlol lecture to be held at a EUROSON Congress and Is provided to cover travel and accommodation costs. RELATED PARTY DISCLOSURES 15. There were no related party translons for the year ended 31 December 2023. -15-