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2024-12-31-accounts

Report and Accounts 2024

Year ended 31 December 2024

Registered Charity No. 1019969 10-18 Union Street, London SE1 1SZ Tel: 0207 724 5534 Email: info@fsrh.org Website: www.fsrh.org

FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2024

CONTENTS

President’s and CEO’s Statement Page 3-5
Reference and Administrative Details Page 6
Structure, Governance & Management Page 7
Objectives and Public Benefit Activities Page 10
Achievements and Performance Page 12
Financial Review Page 17
Trustees’ Responsibilities Page 20
Independent Auditor’s Report Page 22
Statement of Financial Activities Page 25
Balance Sheet Page 26
Statement of cash flows Page 27
Notes to the Accounts Page 28

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

PRESIDENT’S STATEMENT

The FSRH Hatfield Vision campaign achieved significant milestones in 2024, marked by the publication of our "Two Years In" document and the appointment of the first Hatfield Vision Ambassador, Dr. Aziza Sesay. The campaign garnered substantial support from the healthcare community, securing 67 endorsements from prominent organisations, and established working groups to implement specific goals. We were proud that our efforts were recognised with the MemCom Best Lobbying Campaign award, demonstrating the initiative's impact and effectiveness, and is also testimony to the power of collaboration.

In the political sphere, the FSRH saw important developments with the reconstitution of the All Party Parliamentary Group (APPG) on Sexual and Reproductive Health in the UK. Under the leadership of Dr. Rupa Huq MP and Baroness Barker as Chairs, alongside Maya Ellis MP and Baroness Sugg as Vice-Chairs, the group quickly began its work, notably supporting the implementation of safe access zones in England and Wales. The APPG's formation with 27 MPs and Peers showed strong parliamentary engagement with sexual and reproductive health issues.

Education continued in 2024 as a key aspect of our work. The organisation made an investment to enhance access to training, launching a programme to upskill staff in maternity and abortion care through a cost-effective "two for one" offer via our charitable funds on the Letter of Competence in Sub Dermal Implant Insertion. We oversaw growth in the speciality of Community of Sexual and Reproductive Healthcare, with 71 training posts across England, Wales and Scotland and 12 candidates passed the MFSRH examination. We introduced a new postpartum contraception taught course for Obstetricians and Gynaecologists trainees, with 68 delegates joining the first two courses, over 900 delegates attended a Hot Topic event and we closed the year with over 350 attendees joining our Annual Conference.

The FSRH significantly expanded its international presence in 2024, beginning with our inaugural International Webinar in April, which served as a platform to connect with and update our global membership base about ongoing initiatives and developments. This marked an important step in in our outreach to the international sexual and reproductive healthcare community. We were pleased to attend The European Society of Contraception and Reproductive Health (ESC) conference in Bilbao, Spain, in May, and present at conferences in Riyad and Cairo. It is vital the FSRH engages with global partners in sharing expertise across borders in our collective pursuit of high quality SRH.

The new London-based Clinical Effectiveness Unit (CEU) launched in 2024. Throughout the year, the CEU demonstrated its value by producing seven comprehensive clinical statements, covering important topics ranging from new contraceptive options like the Drospirenone progestogen-only pill to critical safety information about paternal valproate exposure.

We developed our clinical quality work internationally influence through a notable collaboration with RANZCOG (Royal Australian and New Zealand College of Obstetricians and Gynaecologists), resulting in the adaptation of FSRH guidelines for healthcare providers in the Oceania region. This partnership demonstrated the FSRH's growing global impact and commitment to sharing clinical expertise. Additionally, we took ownership of the Contraception Choices initiative, enhancing our ability to provide factual, evidence based information to the public, helping to combat the rise of misinformation through social media platforms.

We were pleased to be able to continue the Membership Support Fund, which provides funding to access FSRH courses and events that a member may not otherwise be able to afford. We do understand the financial pressures that are impacting people and very hope this fund, which will continue in 2025, is a source of help.

A historic change came in November when members voted to rename the organisation from the FSRH to the College of Sexual and Reproductive Healthcare (CoSRH). This decision reflects the organisation's evolution and its commitment to better serving both its members and the communities they support, marking a new chapter in our history.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

As always, my enormous thanks to our members. Without you, the FSRH cannot deliver its purpose to improve SRH for all. Our membership is the FSRH. I look forward to working with you all in 2025 and beyond, as we become the College of Sexual and Reproductive Healthcare.

Dr Janet Barter, President

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

Chief Executive’s statement

In 2024, the FSRH made significant strides in our digital transformation by launching a comprehensive new membership platform and corporate website. These improvements were specifically designed to enhance the experience of our multidisciplinary membership base, making it easier for healthcare professionals to access resources and manage their professional development.

A key feature of this digital upgrade was the introduction of a dedicated Member Portal, which serves as a centralised hub for members to access various resources. The portal includes an integrated CPD (Continuing Professional Development) diary, allowing members to track their learning activities, as well as providing easy access to current news stories, upcoming events, and a system of alerts and reminders to help members stay up to date with important developments in sexual and reproductive healthcare.

The platform also introduced innovative features to improve accessibility and convenience for members, including on-demand access to personalised certificates and audio summaries of guidelines and guidance documents. This audio format option represents a progressive step in making clinical guidance more accessible to busy healthcare professionals who may prefer to engage with content while on the move or during other activities.

Following a comprehensive review of our membership model, we launched a new Candidate Membership category, creating a pathway for practitioners studying toward FSRH qualifications to join the broader community of sexual and reproductive healthcare professionals, fostering early professional connections and support networks. This is the first of series of developments we will be making to our membership model

2024 saw further expansion to our events and courses, which are crucial to providing continued professional development to the SRH workforce. We were delighted the Events Team were recognised at the Annual MemCom Excellence Awards as winners of the Team of the Year.

Our financial position continued to improve in 2024 with the continuation of activities to ensure we operate in a sustainable manner. Achieving a surplus position for the second year running marks a positive trend for the organisation, enabling us to invest further in the support we provide to members, enacting our purpose and our charitable objects. We were pleased to be able to make further investments in the FSRH Hatfield Vision, our flagship advocacy campaign to influence and enact positive change.

I am extremely grateful to all our members and staff for the continued support and commitment. Gary Waltham, CEO

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

REFERENCE AND ADMINISTRATIVE DETAILS COMPANY DIRECTORS

Dr J Barter[1] Ms R Bailey[1] Mr S Bowen[2] Ms D Burdass[1] Dr T Donati[1] (appointed January 2024) Dr H Edge[1] (resigned January 2025) Ms A Godfrey[1] Dr Z Haider[1] Dr A Howell[1] (appointed January 2024) Dr S Kama-Kieghe 2 Ms N Patel Arjuna[2] Mr S Wilson[1] (appointed January 2024) Dr Deepali Misra-Sharp1 (appointed January 2025)

Term of office: ¹ first term[2] second term

CHIEF EXECUTIVE OFFICER

Mr Gary Waltham

COMPANY SECRETARY

Mr Tim Coppard

AUDITORS

Crowe U.K. LLP R+ Building, 2 Blagrave Street, Reading, RG1 1AZ

BANKERS

CAF BANK, 25 Kings Hill Avenue Kings Hill, West Malling, Kent, ME19 4JQ

National Westminster Bank Plc London Bridge

SOLICITORS

Bates Wells 10 Queen Street Place London, EC4R 1BE

REGISTERED OFFICE

10-18 Union Street London, SE1 1SZ Registered Company Number: 02804213 Charity Number: 1019969

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

DIRECTORS' REPORT

The Trustees (who are also directors for the purposes of Company Law as listed on page 6) of the FSRH have pleasure in presenting their report together with the accounts for the year ended 31 December 2024.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Faculty is a registered charity in England and Wales (Charity No.1019969) and company limited by guarantee (Registered in England and Wales, No. 02804213). It is governed by a Board of Trustees who are the Directors. Membership of Council is as follows:

Officers

President:

President: Dr Janet Barter Vice President: General Training Dr Cindy Farmer Vice President: Workforce & Membership Dr Zara Haider Vice President: Clinical Quality Dr Helen Munro-resigned April 2024 Dr Manisha Singh-appointed July 2024 Vice President: Global Dr Maryam Nasri Dr Charlotte Porter

Vice President: Global Vice President: Specialty

Elected members (16) Elected
 Completes term
Fellow/Member representative: Dr Nikki Jeal October 2021 20272
Diplomate representative: Dr Emily Simon September 2022 20251
Diplomate representative: Dr Sharon Porter September 2022 20251
Fellow/Member representative: Dr Sinead Cook May 2024 20272
Diplomate representative: Dr Georgina Forbes June 2023 20261
Fellow/Member representative: DrSiobhan
Kirk(Nagar) January 2024 20261
Diplomate representative: Dr Rebecca Rea May 2024 20271
Fellow/Member representative: Dr Ulrike Sauer May 2024 20271
Fellow/Member representative: Dr Marion Norbrook May 2024 20272
Fellow/Member representative: Dr Tessa Malone May 2024 20271
Diplomate representative: Dr Ruth Guest May 2024 20271
Diplomate representative: Dr Rosemary Page May 2024 20271
Diplomate representative: Dr Kiran Sihre May 2024 20271
Diplomate representative: Dr Nabil Acladious May 2024 20271
International: Dr Catriona Melville May 2024 20271
RCOG representative (1): Dr Ranee Thakar December 2022 20251

RCOG representative (1):

Co-opted members:

Ms Ruth Bailey, Nurse Representative [March 2022-2027[1] ] Ms Maria Viner, Lay Representative [January 2023-2027[1] ] Dr Nikki Kersey, Chair, CSRH Trainees Committee [resigned June 2024]

Dr Rachael Viney, Chair, CSRH Trainees Committee [June 2024-2026[1] ]

Dr Sophie Nicholls, SAS Lead [resigned August 2024] Dr Sanjiva Dharmaratne, SAS Lead [August 2024-2026[1] ]

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

Invited members:

Dr Michael Mulholland, RCGP representative [April 2023ongoing[1] ] Mr James Woolgar, Commissioner representative [April 2023-2025[1] ]

Term of office: ¹ first term[2] second term

The role of Council is to have oversight of all professional and clinical matters related to sexual and reproductive healthcare and the specialty and to make recommendations to the Board of Trustees in each of these areas.

Committee Structure

Much of the work of the FSRH is carried out by the committees that report into FSRH Council or the Board of Trustees. Committee members provide their time and expertise on a voluntary basis, without which the FSRH would not be able to fulfil its charitable objectives. The FSRH benefits from the contribution of over 400 volunteers who sit on or contribute to committee work. During 2023 the Committee structure was changed with five Boards of Council being introduced in order to simplify and streamline governance and reporting. All five Boards of Council report into the Council and the previous committee structure was remodelled as below. As a result a number of the previous Committees had changed reporting lines and some were closed

Newly appointed Trustees, Council and Committee members are familiarised with the workings of the charity and its policies through induction training, liaison with members and meetings with the Chair, other Board Directors and members of the Senior Leadership Team.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

Membership

Total membership at the end of 2024 was 13,551 paying members and 89 Honorary Fellows. This was down 2.2% from 13,867 paying members with 5 more of Honorary Fellows from the end of 2023.

Category Members
at 31 December
2024		 Members at 31
December
2023		 (Decrease)/
Increase %
Diplomate DFSRH 10,882 11,276 (3.5)%
Member MFSRH 154 155 (0.6)%
Fellow FFSRH 178 193 (7.8)%
Associate 1,975 1,906 3.6%
Affiliates 256 201 27.4%
Retired 106 113 (6.2%)
International affiliates 0 23 (100)%
Paying members 13,551 13,867 (2.3)%
Honorary Fellows 89 88 1.1%
Total Members 13,640 13,955 (2.2)%

Staffing

The staffing to support the work of the FSRH continues to be reviewed and developed by the CEO as we respond to the needs of our membership.

By the end of 2024 we had a total of 38 staff 23 full time staff members and 15 part-time although this is a relatively small staff team for the size of the membership.

Staff Pay

The Remuneration Committee has responsibility for approving the remuneration package for the CEO and any proposals for increases in pay for the other employees of FSRH. This includes basic salary, bonuses, pensions contributions and other employee benefits. It is the policy of the FSRH that all staff should be placed at the ‘median’ of their pay bands by the end of their first year subject to a satisfactory probation outcome.

Fundraising Statement

Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. Although FSRH do not undertake fundraising from the public, the legislation defines fundraising as “soliciting or otherwise procuring money or other property for charitable purposes.” Such amounts receivable are presented in our accounts as donations £0 in 2024 (£0 in 2023).

In relation to the above we confirm that all solicitations are managed internally, without

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

involvement of commercial participators or professional fund-raisers, or third parties. The day- to-day management of all income generation is delegated to the Senior Management Team, who are accountable to the trustees.

We have received no complaints in relation to fundraising activities (2023 nil). Our terms of employment require staff to behave reasonably at all times; we do not approach individuals for funds nor do we consider it necessary to design specific procedures to monitor such activities.

OBJECTIVES AND PUBLIC BENEFIT ACTIVITIES

The Faculty of Sexual and Reproductive Healthcare (FSRH) is the leader in the field of sexual and reproductive healthcare, and we are the voice for professionals working in this area. As a multi-disciplinary professional membership organisation, we set clinical guidance and standards, provide training and lifelong education, and champion safe and effective sexual and reproductive healthcare across the life course for all.

The main function of the FSRH is to provide public benefit by advancing medical knowledge in sexual and reproductive health care, by advancing the education and training of registered healthcare practitioners and by promoting and maintaining high standards of professional practice. The trustees of the charity have given due regard to the guidance issued by the Charity Commission on the subject of public benefit. The trustees are satisfied that the primary purpose of the FSRH is to improve and support standards in patient care through the publishing of standards and guidance and by providing training and professional support to health care professionals working in sexual and reproductive health, to benefit of service users.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

The income and property of the company is applied solely towards the promotion of the company’s objects as set out in the Memorandum of Association.

Our Strategic Plan 2023-26 as approved by the Board of Trustees has at its heart the following vision. ‘ Our vision is of high-quality sexual and reproductive health at every stage of our lives’.

Our strategic aims for 2023-26 are:

An annual review of performance against the strategy objectives is undertaken, as well as an assessment of whether any objectives may need amending due to external or internal developments.

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ACHIEVEMENTS AND PERFORMANCE IN 2024

We outline our key achievements and performance, based on our 2024 strategic goals. Highlights

56 doctors sat an MFSRH exam Part I paper and 17 completed the Part II . This exceeded the targets.

82 HCPs applied to undertake the MCPC and 14 applied for the MCPD achieving the targets, which demonstrates an

increased awareness of the need for training in menopause care across services and settings.

379 HCPs attended the BASHH & FSRH joint online conference. This shows a positive established relationship between the organisations and the programme content was well received.

Increased endorsements of the FSRH Hatfield Vision to 67 total organisations . eAe

Secured the establishment of safe access zones

around abortion clinics in Northern Ireland, and continued advocacy efforts with partners on this issue in England, Scotland and Wales.

Reaching out – Bringing the benefits of FSRH training, qualifications, membership and community to a wider audience. 2.4 million page views of the FSRH website.

|

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

Key numbers – qualifications, courses and events

The FSRH offers a range of learning and development to healthcare professionals (HCPs).

External Affairs

In 2024, our work continued to build on the momentum of the FSRH Hatfield Vision Taskforce, driving policy change and public awareness around women’s health issues. We saw significant advocacy successes and we strengthened parliamentary engagement, while expanding our influence across the UK nations. Our media presence grew, amplifying our voice on key SRH topics.

FSRH Hatfield Vision

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

Meetings with Influencers

Engagement via the All-Party Parliamentary Group on SRH (APPG SRH)

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

Influencing Across Nations

FSRH in the press

Clinical Quality

Fellowships, awards and events

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

ASM (hybrid) and the FSRH Annual Conference (hybrid), a Post Birth Contraception Conference (hybrid), a Hatfield Vision Conference in Scotland (online).

Supporting and Growing our SRH community

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

FINANCIAL REVIEW

Financial result for the year

The financial results for 2024 show a net deficit on all funds of £69,696 compared to the surplus of £40,588 in 2023, an overall decline of £110,284. This primarily reflects the spending from designated reserves

The FSRH core income stream of subscriptions and registrations was £2,238K, an increase of 4.5% on 2023, part of this reflects increases in fees but also a good performance on education products. Whilst the financial performance shows the second year of an operational financial surplus after deficits for seven years, the operating environment and that for our members continues to be challenging with a still concerning economic outlook and in particular the sustained cost of living crisis making an especially challenging operational environment to operate in. With return to surplus FSRH is on a much stronger financial footing to continue to meet and growing needs of its members.

Interest and dividends receivable of £121,338 in 2024 have increased by £2,493 from the level of 2023. The higher level reflects the higher prevailing interest rates.

Total expenditure of £3,017K (2023: £2,768K) reflects greater investment in our Designated reserves projects.

FSRH continues to invest in both intangible as well as tangible assets representing both a continued expansion in operations as well as a need to modernise its IT infrastructure which are at the heart of delivering services to its members. During the year the FSRH made further investments in the CRM and Exams Systems software of £172,275.

The market value of FSRH investments increased in 2024 and, as a result, FSRH have achieved investment gains of £286,600 (£244,725 in 2023) helping to offset an investment loss in 2022 of £945,644. With this increase in the market value of the investment portfolio £216,902 has been added to overall Reserves levels

Going Concern

The Trustees have reviewed the cost of living crisis and the general economic outlook on the FSRH’s operations and finances. Taking into consideration the projected cash flows and forecast activity of the FSRH, the Trustees have a reasonable expectation that the FSRH has adequate resources to continue its activities for the foreseeable future and consider that there are no material uncertainties over the FSRH’s financial viability. Accordingly, the Trustees continue to adopt the going concern basis in preparing the financial statements.

Investment policy

The Finance, Risk & Investment Committee oversee the application of FSRH investment policy and monitor the performance of FSRH investments. Following the appointment of Evelyn Partners as investment managers and advisers a detailed review of the current investment policy has been undertaken through workshops involving Trustees and members of the Finance Risk and Investment Committee and the policy revised. The investment remains focused on longterm growth. The fund performance is reviewed at each Committee meeting against the ARC Steady Growth Index (this being the relevant category for our risk tolerance), the Evelyn Partners

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

composite benchmark Strategy 5 (comprising, fixed income, equity, and alternative assets), as well as the FTSE 250.

The investment objectives are:

The new wording for the FSRH Ethical Policy shall therefore be as follows:

*This includes the manufacturing, supply, transshipment and brokerage of conventional (including depleted uranium), biological/chemical, or nuclear weapons systems and components. This includes companies that provide support systems and services, as well as those with indirect ties to weapons production through ownership.

The FSRH recognises that there is a significant number of companies with only a modest involvement in these areas and that a total exclusion of all such companies would exclude companies which are primarily involved in the supply of products that are not subject to investment exclusions and may be of considerable social benefit and this could conflict with the objective to achieve the best financial return within the level of risk considered to be acceptable.

Guideline: When investing in companies involved in the extraction and production of fossil fuels, the FSRH will seek to invest in companies deemed to be best-in-class among their industry peers. for example, companies which have a clear trajectory to increase investment in renewable energy sources such as solar and wind, aiming for a significant portion of their energy mix.

Guideline: When investing in companies involved in the production and supply food products, the FSRH will seek to invest in companies deemed to be best-in-class among their industry peers – for example, companies making a tangible positive effort to improve customer health.

Reserves policy

The FSRH reserves policy is to maintain a sufficient level of reserves to enable operating activities to be maintained considering the following potential risks that may arise:

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

Based on these specific risks the level of reserves has been defined as free reserves of at least 12 months of budgeted expenditure (2025: £2,883,000) in addition, the FSRH will hold reserves of £500,000 for one-off expenditure to continue with the transformation of the FSRH through agreed and monitored programmes (subject to approval in accordance with Standing Financial Orders). The FSRH reserves policy will be reviewed again in 2025.

As at the end of December 2024 total unrestricted and non-designated funds stood at £4,326,884. After deducting the carrying value of tangible and intangible fixed assets held to support the FSRH work in the future, unrestricted free reserves amounted to £3,836,644.

Historically, the FSRH have built up reserves to keep the accommodation strategy flexible. In 2019, the FSRH moved to the RCOG’s new building in Southwark. Reserves will continue to be invested in the modernisation programme which will include additional educational products as well as enhancements to the members Training Hub. Additionally reserves will be used to support healthcare professionals to better deliver sexual and reproductive healthcare. The free reserves exceed the amount required by the reserves policy by £371,000. Trustees will consider this excess again in 2025 as part of the review of the risks facing the Faculty and the review of this strategy

Risk Review 2024

During 2022 the Board of Trustees developed and adopted a Board Assurance Framework (BAF) in place of the previous risk register. The BAF is a more comprehensive way of recording, measuring and monitoring strategic risks. On adoption it comprised 14 risks. The risks are reviewed monthly by the Senior Leadership Team and the full BAF is presented at each meeting of the Finance, Risk and Investment Committee as well as the Board. At each meeting the BAF shows the changes in any aspect of each risk since reported at the previous meeting. On a rotational basis risks are reviewed in depth at least annually.

In the last quarter of 2024 a full review of the BAFs was commenced and a further two BAFS were added, one on the use of as well as the threat of Artificial Intelligence (AI) and the second concerning the risks around reputational damage.

In summary the key risks along with key controls and mitigations are:

Key risks Key controls/mitigations
Meeting targets to return to financial surplus 5 year financial model with income
growth and expenditure reduction targets
Financial Processes policy
Delegation of financial authority Regular
review of accounts
Inclusion in budget of tolerance for cost
of living crisis impacts
Income diversification workstream
enacted
Falling membership Monthly instalment payments option for
renewing members
Annual renewals campaign
Refreshed
member
social
media community
Reducing overall expenditure to offset
any decline in renewal income

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

Resilience to unscheduled events Fully scaled up remote working
capability along with associated policy
and procedures
Staff hybrid working arrangements to
allow flexibility in contracted place of work
Digital/virtual connectivity to
negate/reduce time out of service
Ability to withstand cyber attack Firewalls and virus protection software
regularly reviewed and updated
Mandatory cyber training for all staff
Cyber insurance including expert help
should we suffer an attack
Mandatory GDPR/IG training and testing
for all staff
Appropriate use of artificial intelligence AI policyis in place for staff to support
adoption
Extensive legal support to ensure careful
implementation

TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Annual Report and the financial statements of the charitable company in accordance with the Companies Act 2006 and for being satisfied that the financial statements give a true and fair view. The Trustees are also responsible for preparing the financial statements in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that year. In preparing these financial statements, the Trustees are required:

The Trustees are responsible for keeping adequate accounting records that show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.

They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

Provision of Information to the Auditor

Each of the persons who are directors at the time when this directors’ report is approved has confirmed that:

The annual report and financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the Board of Directors and signed on its behalf:

Nikki Patel Arjuna Director, FSRH

Date: 10 July, 2025

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE OF THE ROYAL COLLEGE OF OBSTETRICIANS AND GYNAECOLOGISTS

Opinion

We have audited the financial statements of Faculty of Sexual and Reproductive Healthcare of the Royal College of Obstetricians and Gynaecologists (‘the charitable company’) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit:

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

consistent with the financial statements; and

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 15, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud 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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were employment laws, taxation laws and General Data Protection Regulation (GDPR).

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Council of Management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, sample testing of income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

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 Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s 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 company’s members as a body for our audit work, for this report, or for the opinions we have formed.

Janette Joyce

Partner, Social Purpose and Non-Profit For and On Behalf of Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL 21 July, 2025

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 December 2024

Unrestricted Funds Unrestricted Funds Designated
Funds		 Restricted
Funds		 Total
Funds		 Total
Funds
Notes 2024 2024 2024 2024 2023
£ £ £ £ £
Income from: 1(b)
Grants and Donations - - 94,501 94,501 84,800
Charitable Activities
Subscriptions and registration fees 2,237,510 - - 2,237,510 2,140,346
Conference income 252,755 - - 252,755 259,267
BM Journal of SRH 54,185 - - 54,185 35,520
Examination fees 112,825 - - 112,825 107,952
Other income 74,326 - - 74,326 62,346
Investments
Interest and dividends receivable 121,338 - - 121,338 118,845
Total income 4 2,852,939 - 94,501 2,947,440 2,809,076
Expenditure on: 1(d)
Raising funds
Investment management 31,200 - - 31,200 21,983
Charitable activities
Conferences, meetings and
membershipservices		 2,532,232 - 150,801 2,683,033 2,463,150
BM Journal of SRH 78,240 - - 78,240 77,052
Examinations 151,057 - - 151,057 184,265
Research and Designated Projects - 73,606 - 73,606 22,038
Total Expenditure 4, 5 2,792,729 73,606 150,801 3,017,136 2,768,488
Net expenditure before gains
and losses		 60,210 (73,606) (56,300) (69,696) 40,588
Transfers between funds (1,225,000) 1,225,000 - - -
Gains on investments 9 286,600 - - 286,600 244,725
Net movement in funds (878,190) 1,151,394 (56,300) 216,904 285,313
Fund balances
Total funds brought forward 13,1
4,15		 5,205,074 92,962 120,487 5,418,523 5,133,210
Total funds carried forward 13,1
4,15		 4,326,884 1,244,356 64,187 5,635,427 5,418,523

All amounts derive from continuing activities.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

As at 31 December 2024
Notes 2024 2023
£ £
FIXED ASSETS
Intangible assets 7 310,234 243,083
Tangible assets 8 180,006 237,829
Investments 9 5,080,789 4,791,206
5,571,029 5,272,118
CURRENT ASSETS
Debtors 10 160,378 135,228
Cash at bank and in hand 408,465 605,985
568,843 741,213
CREDITORS
Amounts falling due within oneyear
Creditors excludingdeferred income 11 (223,608) (350,088)
Deferred income 17 (280,837) (244,720)
(504,445) (594,808)
NET CURRENT ASSETS 64,398 146,405
Provisions - -
NET ASSETS 5,635,427 5,418,523
FUNDS OF THE CHARITY
~~——~~		 ~~——~~ ~~——~~ ~~——~~
Unrestricted funds
~~——~~		 ~~——~~ ~~——~~ ~~——~~
General fund
~~——~~		 13,14,15
~~——~~		 4,326,884
~~——~~		 5,205,074
~~——~~
Designated Funds 13, 14, 15 1,244,356 92,962
Restricted Funds 13, 14, 15 64,187 120,487
TOTAL FUNDS 5,635,427 5,418,523

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved and authorised for issue by the Board of Directors and signed on its behalf:

Nikki Patel Arjuna Director, FSRH

Date: 10 July, 2025

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists

STATEMENT OF CASH FLOWS

For the year ended 31 December 2024

STATEMENT OF CASH FLOWS
For the year ended 31 December 2024
Notes 2024 2023
£ £
Cash flows from operating activities
Surplus for the year 216,904 285,313
Adjustments for:
Depreciation and amortization 159,782 124,957
Loss on Disposal of Fixed assets 12,600 -
Gains on investments (286.600) (244,725)
Investment management costs 31,200 21,983
Interest and dividends received (121,338) (118,845)
(Increase)/decrease in debtors (25,150) 27,980
(Decrease)/increase in creditors (90,363) 106,833
Net cash (used in) / generated by operating
activities		 (102,965) 203,496
Cash flows from investing activities
Purchase of fixed assets (181,710) (199,711)
Interest and dividends received_(NET)_ 118,591 96,862
Net cash used in investing activities (63,119) (102,849)
Net (decrease)/increase in cash & cash
equivalents		 (166,084) 100,647
Cash & cash equivalents at beginningofyear A 1,217,679 1,117,032
Cash & cash equivalents at end ofyear A 1,051,595 1,217,679

A. COMPONENTS OF CASH AND CASH EQUIVALENTS

2024 2023
£ £
Term deposits 643,130 611,694
Cash at bank and in hand 408,465 605,985
1,051,595 1,217,679

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES

STATUS OF COMPANY

The company is limited by the guarantee of its members; the guarantee of each member being restricted to £1. The company is a registered charity, registration number 1019969.

(a) Accounting convention

The financial statements have been prepared under the historical cost convention in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP (FRS 102)), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) and the Companies Act 2006.

(b) Income

Donations are accounted for as received. Income received from subscription and registration fees is recognised over the period to which the subscription relates. Grants for our supported projects are recognised when these are entitled and contracted, probable these will be received and are measurable. Income from conferences and exam fees is recognised in the period in which the conference or examination takes place. Journal income is accounted for in the accounting period in which the charity earns entitlement under the contract with the BMJ. Amounts invoiced in excess of the amount earned during the period are recognised as income in advance. The income from the Revised Diploma is recognised on application as at this point it is considered in substance a sale as there are no significant further obligations for the charity to fulfil.

(c) Investment income

Investment income and interest on bank deposits are accounted for based on the ex-dividend date of each investment.

(d) Expenditure

Expenditure is recognised on an accruals basis. A liability is recognised when the charity enters into a legal or constructive obligation to a third party. Staff costs are allocated between cost headings according to the function of each employee. All other costs are allocated directly to activities. Activities in furtherance of the charity’s objects include costs relating to conferences, meetings and members’ support services. Governance costs have been apportioned across other expenditure headings in proportion to direct expenditure costs.

(e) Research and education grant expenditure

Expenditure on research and education grants is accounted for at the time at which there is a legal or constructive obligation to make a grant and so the Faculty considers a liability exists.

(f) Investments

Investments have been valued at bid price at the Balance Sheet date. Realised and unrealised gains and losses are included in the Statement of Financial Activities.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

(g) Depreciation

Individual fixed assets costing £1,000 or more are capitalised at cost. The cost of tangible fixed assets (office equipment) and intangible fixed assets (website and database development costs) are depreciated by equal instalments over the estimated useful life of the assets, being five years. The cost of the new (in 2024) CRM system is being depreciated over seven years. The cost of office improvements are depreciated by equal instalments over the estimated useful life of the asset, being ten years. Depreciation is charged for a full year in the year of acquisition of an asset.

(h) Pensions

The cost of providing pension benefits is charged to the income and expenditure account over the period benefiting from the employee service. The Faculty participated in a multiemployer defined benefit pension plan which was closed to new members in 2005 and accruals in 2015. The plan’s actuary has advised that it is not possible to separately identify the assets and liabilities relating to the Faculty and so the scheme is accounted for as a defined contribution scheme.

(i) Operating lease rentals

Expenditure in respect of operating leases is accounted for in the period to which it relates.

(j) Funds

Restricted funds are unexpended cash balances and donations held on trust to be applied for specific purposes. Unrestricted funds comprise the accumulated surplus or deficit from the Statement of Financial Activities, which are not restricted. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

(k) Going concern

The Trustees have reviewed the cost of living crisis and the general economic outlook on the FSRH’s operations and finances. Taking into consideration the projected cash flows and forecast activity of the FSRH, the Trustees have a reasonable expectation that the FSRH has adequate resources to continue its activities for the foreseeable future and consider that there are no material uncertainties over the FSRH’s financial viability. Accordingly, the Trustees continue to adopt the going concern basis in preparing the financial statements.

(l) Financial instruments

The charity holds only financial assets and liabilities described as basic, initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments which are held at fair value.

Only investments are accounted for at fair value through income and expenditure as disclosed in Note 9.

(m) Judgements and Estimates

In the application of the accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis and include:

The decision to capitalise development expenditure relating to websites and other information systems. The criteria for capitalisation as set out in FRS 102 is considered from the perspective of the furtherance of the Faculty’s charitable objectives. The useful economic lives of such assets are also considered and reassessed annually.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

The valuation of the defined benefit pension scheme liability is subject to actuarial assumptions. These are considered in note 17 to the financial statements

2 EMOLUMENTS OF TRUSTEES

The trustees of the Faculty received no emoluments for their services during the year (2023:nil). Expenses reimbursed to 1 trustee amounted to £1,292 (2023: 3 – £1,187). These expenses relate to travel and accommodation costs. Professional indemnity insurance is part of a wider combined commercial insurance policy and for all cover amounted to £8,094 (2023: £6,897 for Combined Commercial Insurance) and includes trustees’ liabilities.

3 STAFF NUMBERS AND COSTS

The average number of permanent persons employed by the company during the year was 38 (2023: 33).


(2023: 33).
2024 2023
£ £
Wages and salaries 1,549,043 1,282,777
Redundancy - -
Social security 161,237 134,491
Pension contributions 109,553 86,383
Other staff costs 84,787 110,718
1,904,620 1,614,369
Number of employees whose salaries were above £60,000:
2024 2023
No No
£110,000 to £119,999 1 1
£90,000 to £99,999 2 2
£70,000 to £79,999 2 2
£60,000 to £69,999 3 1

The organisation’s key management comprised the Chief Executive Officer, the Director of Education and Training, the Director of Membership and Marketing, the Director of External Affairs and the Director of Finance and Operations. The aggregate pay of the key management, including social security and pension costs, was £488,250 (2023: £461,343). In 2023, the charity paid no redundancy and termination payments (2023: £nil). All payments were monetary. All redundancy and termination payments are recognised as an expense in the year in which a legal or constructive obligation exists.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

4 PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES

The SOFA provides prior year comparatives in total; this note provides prior period comparatives for each of the types of funds.

Unrestricted Funds Unrestricted Funds Designated
Funds		 Restricted
Funds		 Total
Funds
Notes 2023 2023 2023 2023
£ £ £ £
Income from: 1(b)
Grants and Donations - - 84,800 84,800
Charitable Activities
Subscriptions and registration 2,140,346 - - 2,140,346
Fees
Conference income 259,267 - - 259,267
BM Journal of SRH 35,520 - - 35,520
Examination fees 107,952 - - 107,952
Other income 62,346 - - 62,346
Investments
Interest and dividends 118,845 - - 118,845
Receivable
Total income 4 2,724,276 - 84,800 2,809,076
Expenditure on: 1(d)
Raising funds
Investment management 21,983 - - 21,983
Charitable activities
Conferences, meetings and 2,372,950 - 90,200 2,463,150
membership services
BM Journal of SRH 77,052 - - 77,052
Examinations 184,265 - - 184,265
Research - 22,038 - 22,038
Total Expenditure 4,5 2,656,250 22,038 90,200 2,768,488
Net expenditure before gains
and losses		 68,026 (22,038) (5,400) 40,588
Transfers between funds (65,000) 65,000 - -
Gains on investments 9 244,725 - - 244,725
247,751 42,962 (5,400) 285,313
Fund balances
Total funds brought forward 12,13
,14		 4,957,323 50,000 125,887 5,133,210
Total funds carried forward 12,13
,14		 5,205,074 92,962 120,487 5,418,523

All amounts derive from continuing activities.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

5. EXPENDITURE

5. EXPENDITURE
Staff
costs		 Governance Printing &
Publications		 Other Total Total
2024 2024 2024 2024 2024 2023
£ £ £ £ £ £
Conferences,
meetings,
membership
support		 1,787,132 67,647 - 859,454 2,714,233 2,485,133
Journal of SRH - 2,090 76,150 - 78,240 77,052
Examinations 108,940 4,035 - 38,082 151,057 184,265
Designated
Projects		 8,548 - - 65,058 73,606 22,038
Total 1,904,620 73,772 76,150 962,594 3,017,136 2,768,488
2023 1,605,679 96,562 74,228 992,019 2,768,488

Support Costs total £629,448, consisting of Depreciation £159k, Office Premises costs £101k, Other Office Overheads including IT and Systems Support £210k, and Finance and Administration staff costs of £159k. Support Costs wholly relate to Membership Support. Governance Costs are allocated on the basis of Turnover.

6. NET EXPENDITURE

Net expenditure is stated after charging: 2024 2023
£ £
Depreciation 159,782 124,957
Audit fee 24,131 20,324
Non-Audit Fees 2,700 831
Rentalspayable under operatingleases:
Office rental 72,991 66,847
Office equipment 3,573 3,548

7. INTANGIBLE FIXED ASSETS

Website Development Development
In Progress		 Products Total
£ £ £ £
Cost
At 1 January2024 250,141 166,423 30,235 446,799
Additions - 172,275 - 172,275
Disposals (14,178) - - (14,178)
Transfer from Development 338,698 (338,698) - -
At 31 December 2024 574,661 - 30,235 604,896
Depreciation
At 1 January2024 197,669 - 6,047 203,716
Charge for theyear 96,243 - 6,047 102,290
Disposals (11,344) - - (11,344)
At 31 December 2024 282,568 - 12,094 294,662
Net book value
At 31 December 2024 292,093 - 18,141 310,234
At 31 December 2023 52,472 166,423 24,188 243,083

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

8. TANGIBLE FIXED ASSETS

Office
Premises		 Office
Equipment		 Total
£ £ £
Cost
At 1 January2024 384,120 146,906 531,026
Additions - 9,435 9,435
Disposals - (60,164) (60,164)
At 31 December 2024 384,120 96,177 480,297
Depreciation
At 1 January2024 182,984 110,213 293,197
Charge for theyear 39,501 17,991 57,492
Disposals - (50,398) (50,398)
At 31 December 2024 222,485 77,806 300,291
Net book value
At 31 December 2024 161,635 18,371 180,006
At 31 December 2023 201,136 36,693 237,829

9. FIXED ASSETS – INVESTMENTS

Investment National Total Total
Portfolio Savings 2024 2023
£ £ £ £
Market value at 1 January2024 4,150,559 500 4,151,059 3,934,787
Disposal at market value - - (3,993,659)
Additions at cost - - 3,993,659
Realisedgain - - 59,372
Unrealisedgain 286,600 - 286,600 185,353
Term Deposits 643,130 - 643,130 611,694
Market value at 31 December 2024 5,080,289 500 5,080,789 4,791,206
Cost at 31 December 2024 4,793,688 500 4,794,188 4,507,007
Cost at 1 January2024 4,790,706 500 4,791,206 4,879,221

In 2023 all the investments previously held with Fidelity and Columbia Threadneedle Investment Fund were sold and the proceeds transferred to our investment managers Evelyn and Partners. Evelyn then reinvested the funds predominantly in directly held investments. Fixed Assets Investments are managed directly through the investment managers Evelyn and Partners. In 2024 short term deposits were also placed into a Treasury Bills Portfolio, also managed by Evelyn and Partners. There are also 3 Short Term Savings Deposit Bank Accounts.

A split of types of investment in the Evelyn Managed Portfolio as a percentage is shown below:

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

2024
Cash 11%
Time deposit 4%
Bonds 20%
Alternatives 8%
Global equity 5%
European equity 36%
UK equity 15%
100%
10 DEBTORS AND PREPAYMENTS 2024 2023
£ £
Accrued income 65,693 41,064
Prepayments 94,685 94,164
160,378 135,228
11 CREDITORS AND ACCRUALS 2024 2023
£ £
Amounts falling due within oneyear:
Trade creditors 66,871 78,468
Social securityand other taxes 52,195 45,747
Accruals 104,542 225,873
223,608 350,088

12 TAXATION

The company is a charity within the meaning of Para 1 Schedule 6 Finance Act 2010. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

13. MOVEMENT OF FUNDS

Balance
b/f		 Income Expenditure Gains Transfers Balance
c/f
Restricted Funds £ £ £ £ £ £
Equivalence DHSC
Fund		 15,260 - (15,260) - - -
Support for APPG 14,500 35,992 (50,492) - - -
HEE for esrh modules 19,200 - - - - 19,200
Four-O-Eight
Sheffield
Fund		 56,325 - (21,338) - - 34,987
E-Bulletin Funds - 12,000 (12,000) - - -
David Bromham Fund 202 - (202) - - -
Hatfield Vision Fund 15,000 46,509 (51,509) - - 10,000
Restricted Funds 120,487 94,501 (150,801) - - 64,187
Unrestricted Funds 5,205,074 2,852,939 (2,792,729) 286,600 (1,225,000) 4,326,884
Designated Funds
CSRH trainingfund 24,944 - (7,850) - - 17,094
Research fund 3,018 - (15,488) - 50,000 37,530
Presidents fund 65,000 - (2,975) - 62,025
Name change - - (68) - 50,000 49,932
FSRH Hatfield vision - - (47,225) - 825,000 777,775
Membershipreview - - - 150,000 150,000
MFSRHQA review - - - - 60,000 60,000
Education & Training (E&T)
Products		 - - - - 50,000 50,000
Office redecoration - - - - 40,000 40,000
Designated Funds 92,962 - (73,606) - 1,225,000 1,244,356
Total Funds 5,418,523 2,947,440 (3,017,136) 286,600 - 5,635,427

14. PRIOR YEAR COMPARATIVES MOVEMENT OF FUNDS

Balance b/f Income Expenditure Gains Transfers Balance
c/f
£ £ £ £ £ £
Restricted Funds
Equivalence
DHSC Fund		 15,260 - - - - 15,260
Support for APPG 26,500 38,200 (50,200) - - 14,500
HEE for esrh modules 9,600 9,600 - - - 19,200
Four-O-Eight
Sheffield
Fund		 62,325 - (6,000) - - 56,325
E-Bulletin Funds 7,500 7,000 (14,500) - - -
David Bromham Fund 4,702 - (4,500) - - 202
Hatfield Vision Fund - 30,000 (15,000) - - 15,000
Restricted funds 125,887 84,800 (90,200) - 120,487
Unrestricted funds 4,957,323 2,724,276 (2,656,250) 244,725 (65,000) 5,205,074
Designated funds
CSRH trainingfund 25,000 - (56) - - 24,944
Research fund 25,000 - (21,982) - - 3,018
Presidents fund - - - - 65,000 65,000
Total funds 5,133,210 2,809,076 (2,768,488) 244,725 - 5,418,523

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

14 MOVEMENT OF FUNDS continued

Restricted funds

The Four-O-Eight Sheffield Fund provides bursaries to doctors and others unable to take part in education and training without financial help. The interest, and an amount not exceeding 5% of the capital per annum, can be used to fund the core activities of the Faculty. In 2024 this fund was used to cover the overhead costs allowed for within the terms of the reserve and costs of supporting Specialty Trainees attendance at FSRH events.

The brought forward fund balance of £15,260 on the Equivalence DHSC Fund received from the Department of Health & Social Care has been used to address the consultant workforce deficit by supporting trainees close to achieving the ‘equivalence’ or CESR route. These funds remain available to support those doctors interested in undertaking the Certificate of Eligibility for Specialist Registration (CESR) route to registration on the specialist medical register with the GMC. For example, funds can be used to support the costs of training programmes that can be used as evidence of their competencies. In 2024 this fund has been utilised to meet the needs of a number of members requesting support via our Member Support Fund.

The E-Integrity e-learning Fund is specifically for 2 e-SRH’ learning resources projects which we will deliver in 2025.

The David Bromham Memorial Fund is for a prize acknowledging a significant contribution in the field of family planning, in particular in the fields of clinical practice, education and ethics. In 2022 a Research prize-winner was identified, and the funds were paid over in 2023 leaving a final balance of £202 for small awards in future years, which was utilised in 2024.

E bulletin Funds are to help fund the Sexual Health & HIV Policy eBulletin which FSRH took over at the start of 2017. Four bulletins were produced during 2024 (2023-6), for which Gilead Sciences Ltd provided support of £12,000.

Support for the All Party Parliamentary Group on SRH was received from RCOG £9,500, Marie Stopes Reproductive Choices £9,500, Bayer £18,700 and Organon Pharma £12,792.

The Hatfield Vision Restricted Fund was set up in 2023. In 2024 we had continuing support from Perrigo (£30,000), NUPAS (£15,000) and Organon Pharma are also supporting the project in 2025.

Designated Funds

Research Designated fund

This designated fund is allocated for research activity to support the advancement of SRH clinical practice. This budget is accessible through a competitive bidding process annually, with bids considered against set criteria and assessed by a subset of Council. In 2023 £21,982 was used in association with Wellbeing of Women for a jointly funded programme of Entry Level Research. In 2024 £15,488 was granted to Wellbeing of Women for scholarships to support Charlotte Deakin and Amy Hough. Of the £3018 left from 2023, a further £50K was added, less the £15,488 grant. A further £25K was added for 2025.so £75K has been set aside of which to date £37.47K has been granted out.

CSRH Training Designated fund

This designated fund is allocated to support the developmental activities amongst CSRH trainees, who are the immediate future of the SRH consultant workforce and future leaders. This budget is accessible through a process overseen by the Education Strategy Board on behalf of Council, working to criteria for appropriate usage. In 2024 funds were spent totalling £7,850 which supported 9 Trainees directly along with the Specialty Trainee Day in Glasgow in October which was attended by 63 Trainees.

Presidents Designated fund

This designated fund is allocated to the FSRH President to support initiatives designed to achieve FSRH’ charitable objects. Applications to the Fund are subject to satisfying the terms described in

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

the Terms of Reference and via the agreement of the Finance, Investment and Risk Committee (FR&IC). In 2024 £2,900 was used as part of a Buy One Get One Free offer on LOCs which was taken up by about 15 candidates

In 2024 a further set of Designated Funds were set up to allow for strategic use of Reserves.

Name Change Designated Fund

This designated fund has been set up to cover the operating costs of changing the Charity’s Name from Faculty of Sexual and Reproductive Healthcare to the College of Sexual and Reproductive Healthcare (CoSRH), which is planned for August 2025.

Hatfield Vision Designated Fund

This designated fund has been set up to adequately resource FSRH’s 19 charitable Goals and 10 Actions embodied within the FSRH Hatfield Vision programme. £825K has been set aside between 2024 to 2030, to better resource the programme and account for the overheads it creates.

Membership Review Designated Fund

This designated fund has been set up to address a series of recommendations to overhaul the benefits offered to the Membership.

Education and Training Products Designated Fund

This designated fund has been set up to fund the design and build of new Training products.

Office Redecoration Designated Fund

This designated fund has been set aside for necessary updates to the Union Street Office premises.

15 ANALYSIS OF NET ASSETS BY FUNDS ANALYSIS OF NET ASSETS BY FUNDS
Tangible
and
Intangible
fixed assets		 Investment Net
current
assets		 Total
£ £ £ £
Restricted funds
Support for APPG - - - -
Equivalence DHSC Fund - - - -
David Bromham Memorial
Fund		 - - - -
E-Integrity E Learning - - 19,200 19,200
Four-O-Eight Sheffield Fund - - 34,987 34,987
E Bulletin - - - -
Hatfield Vision Fund - - 10,000 10,000
Total Restricted funds - 64,187 64,187
Designated Funds - 1,244,145 211 1,244,356
General funds 490,240 3,836,644 - 4,326,884
At 31 December 2024 490,240 5,080,789 64,398 5,635,427

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE

of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

Prior Year Tangible and
Intangible
fixed assets		 Investment
s		 Net
current
assets		 Total
£ £ £ £
Restricted funds
Support for APPG - - 14,500 14,500
Equivalence DHSC Fund - - 15,260 15,260
David Bromham Memorial Fund - 202 - 202
E-IntegrityE Learning - - 19,200 19,200
Four-O-Eight Sheffield Fund - - 56,325 56,325
Hatfield Vision Fund - 15,000 15,000
Total Restricted funds - 202 120,285 120,487
Designated Funds
CSRH TrainingFund - - 24,944 24,944
Research Fund - - 3,018 3,018
Presidents Fund - - 65,000 65,000
Total Designated Funds - - 92,962 92,962
General funds 480,912 4,791,004 (66,842) 5,205,074
At 31 December 2023 480,912 4,791,206 146,405 5,418,523

16. OPERATING LEASE COMMITMENTS

At 31 December 2024 the company had total commitments under operating leases which expire:

2024 2024 2024 2023 2023 2023 2023
Office license Office
equipment		 Office license Office
equipment
£ £ £ £
Withinone year - - 60,825 3,525
In second to fifthyears inclusive 72,471 - - -
72,471 - 60,825 3,525

17. DEFERRED INCOME

£
Balance at 1 January2024 244,720
Amount released to income (244,720)
Amount deferred in theyear 280,837
Balance at 31 December 2024 280,837

FSRH Membership renewals are due annually on 1 January. Each year a proportion of members pay in advance during December, this membership income is held in advance until the new year when it is released in full to income.

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FACULTY OF SEXUAL AND REPRODUCTIVE HEALTHCARE of The Royal College of Obstetricians and Gynaecologists NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024 (CONTINUED)

18. PENSION COSTS

The Faculty of Sexual and Reproductive Healthcare (“the Faculty”) participates in the Royal College of Obstetricians and Gynaecologists Pension Scheme (“the Scheme”), a UK registered trust-based pension scheme providing defined benefits based on service and final pay. The Scheme was closed to new entrants during 2005 and to future accrual of benefits from 1 January 2015. The Trustees are responsible for running the Scheme in accordance with the Scheme’s Trust Deed & Rules, which sets out their powers. The Trustees are required to act in the best interests of the Scheme’s beneficiaries. The Scheme is a multiemployer scheme as defined in Financial Reporting Standard 102 (FRS 102), and under the provisions of FRS 102 relating to multi-employer schemes, the Faculty accounts for contributions paid to the Scheme as though it were a defined contribution scheme. Future funding obligation The Trustees are required to carry out an actuarial valuation every 3 years. The last actuarial valuation of the Scheme was performed by the Scheme Actuary as at 1 April 2022. This valuation revealed a funding shortfall of £1.7 million. A funding update as at 30 November 2022 revealed a funding shortfall of £106,000. A Schedule of Contributions, which was based upon the updated funding position at 30 November 2022, was certified by the Actuary for the Trustees on 27 January 2023. This required total contributions to the Scheme of £27,500 per month from 1 April 2022 to 31 March 2023 (of which 2% was met by the Faculty). These contributions have now ceased. There are therefore no future deficit contributions due from the Faculty under the current Recovery Plan although the Faculty is required to meet 2.25% of the Scheme’s ongoing administration expenses. These reimbursements will need to be accounted for outside of the pension scheme disclosures. The Faculty therefore does not expect to pay anything to the Scheme during the accounting period beginning 1 January 2025, other than its share of the contributions required to reimburse Scheme expenses.

19 Pharmaceutical Support

The FSRH receives sponsorship from pharmaceutical and other organisations exhibiting at conferences and supporting online events. Before such sponsorship is accepted it is considered through a scrutiny process to ensure that it is in line with the Corporate Sponsorship and Partnership Policy. In total FSRH received events sponsorship amounting to £56,875 (2023: £46,144). Monies received from external organisations via sponsorship and grants is used either for a restricted purpose or to fund the general outputs of the FSRH. Such monies are not used to fund any aspect of the work of the Clinical Effectiveness Unit or the development of clinical products.

Pharmaceutical Support for Restricted Fund Projects is disclosed within the restricted funds note.

20 Post balance sheet event

On 2 April 2025 the FSRH surrendered its current office lease which would expire 7 November 2029 and signed a new one which will expire on 7 November 2039. The financial arrangements within the lease including rent and service charge provisions as well as all of the major terms are the same as the lease that was surrendered.

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