Charity number: 1058821
BRITISH SOCIETY FOR GENETIC MEDICINE
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
BRITISH SOCIETY FOR GENETIC MEDICINE
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 7 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 18 |
BRITISH SOCIETY FOR GENETIC MEDICINE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021
| Trustees | Prof Anneke Lucassen, Vice Chair (resigned 20 January 2021) |
|---|---|
| Prof Eamonn Sheridan, Chair | |
| Dr Gemma Chandratillake, Vice Chair (appointed 20 January 2021) | |
| Dr John Dean, Secretary | |
| Prof Peter Farndon, Treasurer | |
| Charity registered number 1058821 Principal office British Society for Genetic Medicine 1 Naoroji Street Islington London WC1X 0GB Independent examiner Helen Blundell LLB FCA FCIE DChA Accountants MHA MacIntyre Hudson Chartered Accountants Rutland House 148 Edmund Street Birmingham B3 2FD |
Page 1
BRITISH SOCIETY FOR GENETIC MEDICINE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2020 to 31 March 2021.
Objectives and activities
Policies and objectives
The objects of the charity as set out in the 2017 constitution are:-
For the public benefit, the promotion, protection and preservation of good health, by any means deemed appropriate by the Executive Committee from time to time, including by:
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a) the promotion, encouragement and advancement of the study and practice of clinical genetics and genomics.
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b) the advancement of education, research and innovation in clinical genetics and genomics.
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c) the promotion of public awareness of genetics and genomics as they relate to health and disease.
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d) the support of the professions contributing to applications of genetics and genomics in the health care systems of the United Kingdom.
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e) the making available of informed opinion on issues of public interest in relation to genetics and genomics
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f) the provision of a forum to co-ordinate and assist as appropriate the activities of the Constituent Groups.
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g) the co-operation and collaboration with other national and international societies which promote the study and practice of clinical genetics and genomics.
The British Society for Genetic Medicine is an independent professional body. It is an umbrella organisation of professional associations, including the Clinical Genetics Society (CGS), Association for Clinical Genomic Science (ACGS) and Association of Genetic Nurses and Counsellors (AGNC) and special interests groups including the Cancer Genetics Group (CGG) and newly formed Fetal Genomics Group (FGG). The member associations are referred to as constituent societies or specialist interest groups. In addition, the BSGM has its own individual members who are not necessarily members of a constituent group. The common purpose of the membership is the promotion, encouragement and advancement of genetic and genomic science in clinical and research practice for the public benefit.
In particular, the Society has an interest in the provision of genetic and genomic services at a national level, and through the National Health Service, and is asked for reports and advice on important current or emerging issues. It has an active role in the Joint Committee for Genomic Medicine (a tripartite committee together with the Royal Colleges of Physicians and Pathologists). In conducting the society’s activities, the Trustees have given due regard to the guidance published by the Charity Commission on public benefit.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Page 2
BRITISH SOCIETY FOR GENETIC MEDICINE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Achievements and performance
Response to the COVID-19 Pandemic
2021 was a very c hallenging year for members of the society, both as professionals and as individuals. Theadvent of the COVID-19 pandemic has had a major effect on the professional activity: scientists, counsellorsand doctors have been redeployed into roles that they had not anticipated to support the NHS efforts to managethe pandemic. Many members of the clinical community were directly deployed to in-patient wards to help dealwith the greatly i ncreased workloads, scientists have been involved in setting up SARS-CoV-2 testinglaboratories to track the disease.
The activity of BSGM has largely moved online in 2020. The accompanying loss of direct contact has been a blow, but the Executive has continued to meet monthly online. The administration by the Royal Society of Biology (RSB) – since March 2017 - continues to be a great success. Online meetings have been well attended and the Executive Committee has been expanded over the past year.
Review of activities
Working with external bodies
The BSGM has continued to act as a source of expert advice, particularly nationally, raising the profile of genomics in clinical and research practice in the following ways:
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BSGM has continued to work with the NHS Genomics Unit to develop a new Service Specification for the NHS Clinical Genetics Service. The most recent Service Specification was published in 2014 and there have been extensive changes to the provision of Genomic Services since that time. The new service specification is under development at present and will seek to particularly review the following areas:
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Equity of Access
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Workforce planning
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New models of working
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o Gaps in the present service
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The Specification has been completed and sent out for formal stakeholder consultation. At present assessments to identify the financial, clinical and patient impacts are taking place. An implementation plan is being developed.
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BSGM has also conducted support sessions with NHS England (NHSE) to clarify the complex issues of consent and confidentiality in clinical practice that have been thrown up by the new NHSE Genomic Medicine Service.
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BSGM has worked with NHSE to develop a model to make amendments to the NHSE genomic Test Directory. This underpins the provision of Genomic Testing across NHSE.
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Working with the European Society of Human Genetics (ESHG) on the European Human Genetics Conference 2021, which is scheduled for Glasgow, and will run from June 12-15, 2021. Details will be available from the ESHG website in due course.
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BSGM is a member of the UK Rare Disease Forum. The purpose of the UK Rare Disease Forum is to provide mechanisms for supporting meaningful engagement and collaboration between members of the rare disease community in the Forum, the UK Rare Disease Framework Board, and the Delivery Group/ implementation boards for England and the devolved nations.
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BRITISH SOCIETY FOR GENETIC MEDICINE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Achievements and performance (continued)
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The Chair of BSGM was invited by Baroness Blackwood, Deputy Chair of Health and Life Sciences at Public Policy Projects to a series of sessions to bring together the rare diseases community to build consensus on implementing the new UK Rare Diseases Framework. The new five-year UK Rare Diseases Framework, released in January 2021 presents an opportunity for the rare diseases community to support the creation of each UK nations action plans, ensuring the framework is implemented successfully.
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Joint Committee on Genomics in Medicine – JCGM is a key organization which links BSGM into the wider clinical community. This year we have contributed to responses to several initiatives of the Department of Health and Social Care, including on technical issues regarding the management Achondroplasia, PKU, and on screening for metabolic conditions. JCGM also made important contributions to the ongoing issue of testing for defective mismatch repair in both germline and tumour samples, and to DPYD testing in cancer patients. This latter has been very important for the GLHs which have responsibility for providing this service.
Communications
We have continued to interact well with the media. Members of the executive have given interviews to major media outlets over the last year. Our Twitter account continues to gain followers [now 1600, up 25% on 2019] and initiates tweets on a regular basis. We have worked together with constituent societies to develop a protocol for tweeting, and have different members of BSGM Council posting BSGM relevant information. BSGM vice chair took part in two podcasts on the subject of DTC genetic testing: https://www.bmj.com/content/367/bmj.l5688 and here: https://www.theguardian.com/science/audio/2019/oct/11/the-dangers-of-diy-genetic-testing-science-weeklypodcast.
Page 4
BRITISH SOCIETY FOR GENETIC MEDICINE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Financial review
Reserves policy
Our accounting policy is to clear debts, ensure that expenditure can be met within year from income, maintain reserves for regular and necessary liabilities and to earmark resources in line with policy objectives.
a) Reserves
Two regular and necessary liabilities are the annual conference and the administration. Reserve for the unrecoverable cost of a one day conference remains at £20,000 and reserve for one half year of payment to RSB for administration has been increased to £17,400.
b) Assistance with travel to educational events
£8,000 has been placed in a fund for applications to assist with travel expenses for educational events, to be assessed through an awards scheme.
C) Doreen Fox Legacy Fund
£62,843 received as a legacy from a benefactor, Doreen Fox, has been placed in a fund whilst the executive committee agree the purposes to which this legacy should be put, for instance for specific educational or public awareness initiatives.
D) Genetics and Insurance Fund
The UK Forum on Genetics and Insurance passed on to BSGM their remaining funds when the organisation was disbanded. The £8,799.59 received has been placed in a fund to be used for work on genetics and insurance issues.
Measure of performance
At the end of this financial year 2020-21 the income and expenditure accounts show a positive balance of income over expenditure, and the reserves have been able to be maintained.
The incoming resources for the year were £105,553 (2020: £152,115).
The society's activities have resulted in a surplus of £15,222 (2020: £31,969).
Structure, governance and management
Constitution
The Society is a registered charity and governed by its constitution dated 1 January 1996 as amended by resolution in September 1996, September 1999, January 2013 and October 2017.
The Charity Commission approved an updating of the Society’s objects to reflect advances in the practice and science of genetics and genomics and these were ratified at the AGM in October 2017.
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BRITISH SOCIETY FOR GENETIC MEDICINE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Structure, governance and management (continued)
Organisational structure and decision-making policies
The Trustees are the officers of the Society and have overall responsibility for the Society. They are assisted in their function by an executive committee.
The Trustees comprise the chair, vice- chair, general secretary and treasurer of the society.
The Executive Committee consists of the officers (the "trustees"), one representative from each of the Constituent Societies and Specialist Interest Groups (usually the chair), and the chairs of sub-committees set up by the Executive Committee with specific remits (for example, Scientific Programme Committee, Conference Co-ordination, Education and Training; Ethics and Policy; Media and Communications).
The British Society for Genetic Medicine Executive Committee has adopted the Charity Governance Code (https://www.charitygovernancecode.org/en). as the basis for its governance principles.
The administration of the BSGM is carried out on its behalf by the Royal Society of Biology.
Trustees
Trustees serving during the year were as stated on page 1.
Executive committee (as at 31 March 2021):
Chair, BSGM: Prof Eamonn Sheridan Vice-chair BSGM: Dr Gemma Chandratillake Secretary, BSGM: Dr John Dean Treasurer. BSGM: Prof Peter Farndon
Chair, Association for Clinical Genetic Science: Dr Simon Ramsden Chair, Association of Genetic Nurses and Counsellors: Nicola Taverner Chair, Cancer Genetics Group: Dr Marc Tischkowitz Chair, Clinical Genetics Society: Prof Sarah Smithson Chair, Fetal Genomics Group: Dr Alison Male
Scientific Programme Committee Chair: Dr Emma Baple Conference Co-ordination Chairs: Flora Joseph/Julie Sibbring Education and Training Chair: Jennie Bell Ethics and Policy Chair: Alison Hall Media and Communications Chair: Dr Michelle Bishop
Devolved nations’ representatives: Northern Ireland: Dr Tabib Dabir Wales: Sian Morgan
Page 6
BRITISH SOCIETY FOR GENETIC MEDICINE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Plans for future periods
The core professional activities of the BSGM will continue in 2021-22, and be developed through the work of the five sub-groups of the executive committee as outlined above.
A major review of communications, and particularly of the website, including logo, continues.
Two away days for the executive are planned for Summer 2021 to refocus the activities of the Executive to ensure we continue to meet the objectives of the Society.
The BSGM is due to take administrative responsibility for the Joint Committee on Genomic Medicine (JCGM) from 1 January 2022. It has been agreed that these responsibilities should be covered by the RCP and RCPath, with BSGM contributing appropriate costs. From 1 January 2022, RCP will continue the practical administrative functions of JCGM until 1 January 2024.
Taking all these measures into account, the Trustees, executive committee and AGM all believe that the BSGM remains a going concern, and these accounts have been prepared on that basis.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Prof Peter Farndon
Trustee Date: 6 December 2021
Page 7
BRITISH SOCIETY FOR GENETIC MEDICINE
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021
Independent examiner's report to the Trustees of British Society for Genetic Medicine ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Helen Blundell
Dated: 20 December 2021
LLB FCA FCIE DChA
MHA MacIntyre Hudson
Chartered Accountants Rutland House 148 Edmund Street Birmingham B3 2FD
Page 8
BRITISH SOCIETY FOR GENETIC MEDICINE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Income from: Donations and legacies Other charitable activities Investments Other income Total income Expenditure on: Charitable activities 3 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward Note |
Unrestricted funds 2021 250 93,526 576 2,401 96,753 90,331 90,331 6,422 226,932 6,422 233,354 £ |
Restricted funds 2021 8,800 - - - 8,800 - - 8,800 - 8,800 8,800 £ |
Total funds 2021 9,050 93,526 576 2,401 105,553 90,331 90,331 15,222 226,932 15,222 242,154 £ |
- 144,758 769 6,588 Total funds 2020 £ |
|---|---|---|---|---|
| 152,115 | ||||
| 120,146 | ||||
| 120,146 | ||||
| 31,969 | ||||
| 194,963 31,969 |
||||
| 226,932 |
The notes on pages 11 to 18 form part of these financial statements.
Page 9
BRITISH SOCIETY FOR GENETIC MEDICINE
BALANCE SHEET AS AT 31 MARCH 2021
| Note Current assets Debtors 6 Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total net assets Charity funds Unrestricted funds 8 Total funds |
216 266,849 267,065 (24,911) |
2021 £ 242,154 242,154 233,354 242,154 |
10,287 220,913 231,200 (4,268) |
2020 £ 226,932 |
|---|---|---|---|---|
| 226,932 | ||||
| 226,932 | ||||
| 226,932 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Prof Peter Farndon Trustee Date: 6 December 2021
The notes on pages 11 to 18 form part of these financial statements.
Page 10
BRITISH SOCIETY FOR GENETIC MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. General information
The British Society for Genetic Medicine is a charity registered and domiciled in England and Wales with the Charity Commission.
The Charity’s principal address is 1 Naoroji Street, Islington, London WC1X 0GB.
The British Society for Genetic Medicine purpose is the promotion, encouragement and advancement of genetic and genomic science in clinical and research practice for the public benefit.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
British Society for Genetic Medicine meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income from subscriptions is recognised at the point of annual renewal. Income from conferences is recognised when the conference takes place.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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BRITISH SOCIETY FOR GENETIC MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Charitable activities comprises of cost incurred by the charity in the delivery of its activities and services for its beneficiaries.
All expenditure is inclusive of irrecoverable VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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BRITISH SOCIETY FOR GENETIC MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
2. Accounting policies (continued)
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
3. Analysis of expenditure by activities
| Direct costs Total 2020 |
Activities undertaken directly 2021 £ 49,404 84,871 |
Support costs 2021 £ 40,927 35,275 |
Total funds 2021 £ 90,331 120,146 |
Total funds 2020 £ 120,146 |
|---|---|---|---|---|
Analysis of direct costs
| Subs to constituent societies Membership of ESHG Society meetings Media Training Course Support of constituent groups Working party |
Total funds 2021 £ 32,965 5,778 10,112 - - 549 49,404 |
Total funds 2020 £ 28,184 5,897 36,878 6,679 7,233 - |
|---|---|---|
| 84,871 |
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BRITISH SOCIETY FOR GENETIC MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
3. Analysis of expenditure by activities (continued)
Analysis of support costs
| Administration fees Bank charges Office costs Stationery and postage Governance costs 4. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
Total funds 2021 £ 36,084 1,763 - 20 3,060 40,927 2021 £ 3,060 |
Total funds 2020 £ 28,800 2,959 823 - 2,693 |
|---|---|---|
| 35,275 | ||
| 2020 £ 2,693 |
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 March 2021, expenses totalling £NIL were reimbursed or paid directly to Trustee (2020 - £303). The amounts reimbursed were for travel expenses.
6. Debtors
| Due within one year Prepayments and accrued income |
2021 £ 216 216 |
2020 £ 10,287 |
|---|---|---|
| 10,287 |
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BRITISH SOCIETY FOR GENETIC MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
7. Creditors: Amounts falling due within one year
| Due to constituent groups Accruals and deferred income |
2021 £ 6,448 18,463 24,911 |
2020 £ 1,575 2,693 |
|---|---|---|
| 4,268 |
Included in accruals and deferred income is £14,776 (2020 - £Nil) of deferred income relating to subscriptions received in advance.
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BRITISH SOCIETY FOR GENETIC MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
8. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Travel awards fund Conference fund Administration fund Doreen Fox Legacy fund General funds General Funds Total Unrestricted funds Restricted funds Genetics and Insurance Fund Total of funds |
Balance at 1 April 2020 £ 8,000 20,000 12,600 62,843 103,443 123,489 226,932 - 226,932 |
Income £ - - - - - 96,753 96,753 8,800 105,553 |
Expenditure £ (250) - (36,084) - (36,334) (53,997) (90,331) - (90,331) |
Transfers in/out £ 250 - 40,884 - 41,134 (41,134) - - - |
Balance at 31 March 2021 £ 8,000 20,000 17,400 62,843 |
|---|---|---|---|---|---|
| 108,243 | |||||
| 125,111 | |||||
| 233,354 | |||||
| 8,800 | |||||
| 242,154 |
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BRITISH SOCIETY FOR GENETIC MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
8. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Designated Funds Travel awards fund Conference fund Administration fund General funds General Funds Total Unrestricted funds |
Balance at 1 April 2019 £ 6,959 20,000 12,500 62,843 102,302 92,661 194,963 |
Income £ - - - - - 152,115 152,115 |
Expenditure £ (1,972) - (28,800) - (30,772) (89,374) (120,146) |
Transfers in/out £ 3,013 - 28,900 - 31,913 (31,913) - |
Balance at 31 March 2020 £ 8,000 20,000 12,600 62,843 |
|---|---|---|---|---|---|
| 103,443 | |||||
| 123,489 | |||||
| 226,932 |
Travel awards funds
In place specifically to assist applicants with travel expenses for educational events, assessed through an awards scheme.
Conference fund
Reserve for the annual one day conference which is an unrecoverable cost.
Administration fund
Reseve for the annual administration payment to RSB in respect of administration.
Doreen Fox Legacy fund
The income received as a legacy from a benefactor, Doreen Fox, has been placed in a fund whilst the executive committee agree the purposes to which this legacy should be put, for instance for specific educational or public awareness initiatives.
Restricted Fund
Genetics and Insurance Fund
Income received to be used to facilitate a constructive dialog between the insurance industry, the genetics community and the public.
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BRITISH SOCIETY FOR GENETIC MEDICINE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
9. Related party transactions
There were no related party transactions other than those per Note 5.
Page 18