CHARITY REGISTRATION NUMBER: 1058821 British Society for Genetic Medicine Unaudited Financial Statements For the year ended 31 March 2025
British Society for Genetic Medicine Financial Statements Year ended 31 March 2025 Pages Trustees, annual report 1to7 Independent examiner's report to the trustees .%tatement of financial activities Balance sheel 10 Notes to the financial statements 11to18
British Society for Genetic Medicine Trustees. Annual Report Year ended 31 March 2025 The truslees presenl their ieport and the unaudited financial slatemenls of the charity for the year ended 31 March 2025. Reference and adminlstratlve details Registered Gharity name Brilish Society for Genetic Medicine Charity regislratlon number 1058821 Prlncipal offlGe 1 Naoroji Street Islington London WC1X OGB The trustees Dr Karen Lynn Greenhalqh, Vice (Appointed 25 March 20251 Chair Dr Gemma Chandralillake, (Resigned 25 March 20251 Vice-chair Ms Dimitra Georgiou, Chalr Dr John Dean, Secretary Prof Peter Farndon. Treasurer Independent examiner Philip Owen FCCA ACA Roslance Edwards Limited 1 & 2 Heritage Park Hayes Way Cannock Slaffordshire WS117LT
British Society for Genetic Medicine Trustees, Annual Report (¢ontipuedJ Year ended 31 March 2025 Structurei governance and management Constitution The Society is a regislered charity and goveriied by its constitution daled 1 January 1996 as amended by resolution in September 1996, Seplembei 1999, January 2013, OGtober 2017 and October 2023. Organisational structure and docision.making policies The Trustees are the officers of Ihe Society and have overall responsibilily for the Society. They are assisted in their function by an executive commiltee. The Trustees comprise the chair, vic8- chair, general secretary and treasurer of Ihe society. The Execulive Committee con51sls of Ihe officers (the Iruslees.), one representaliv8 from each of the Consliluent Societies and Specialisl Interest Groups (usually the chairl, 8nd the chairs of sub-committees set up by the Executive Committee with specific remits (for example, Scientific Programme, Conference, Education and Training, Elhics and Policy, Media and Communications). In order lo ensure that tho Execulive Committee mainlains an overview ol genomics policy and delivery in all nations of tho UK, represenlalives from Northern Ireland, Wales and SGolland also participatè. The Brilish Sociely for Genelic Medicine Executive Committee has adopted the Charity Governance Code (hltps.'Iwww,charitygovernancecode.org as the basis for its governance Pfin¢iples. The administration of Ihe BSGM is carried out on its behalf by the Royal Society of Biology. Executive Gommiltee las al 31st March 2025): Chair, BSGM.. Dimilra Georgiou Vice-chalr, BSGM.. Dr Lynn Greenhaloh Secretary, BSGM.. Dr John Dean Tre3surèr, BSGM.. Prof Peter Farndon Chair. Associatlon for Clinical Genetic Sclence.. Dsjvid Moor8 Chair, Association of Genetic Nurses and Counsellors- Roberta Rlzzo Chair, Cancer Genetics Group.. Dr Katie Snape Chair, Clinical Genetics Society: Dr Mohnlsh Suri Chair. Felal Genornics Group.. Dr Slephanie Allen and Dr Samantha Doyle Scientific Programme Commillee Chair.. Dr Vanessa Sancho-shimizu Conference Co-ordination Chair.. Natalie Ellery Education and Training Chair.. Jennie Bell Ethics and Policy Chair.. Dr Tara Clancy Media and Communications Chair.. Evangclicl Karampelsou Ein&rging Technologies Committee.. Dr Kale ljownes Devolved nations, representalives.. Northern Ireland.. Dr Shirley Heggarty Wales- Sian Morgan Scotland.. Calriona Corsie
British Society for Genetic Medicine Trustees. Annual Report (conlinu8d) Year ended 31 March 2025 Objectlves and activities The objectives of the Gharily as set OLJt in the 2023 constitution are:. For the public benefit, the promotion, protection and preservalion of good health, by any means deemed appropriate by the Execulive Commillee from time to lime. including by- a) The promolion. encouragement and advancement of the sludy and practice of clinical genelitss and genomics. b) The advancement of educalion. research and innovation in clinical genetics and genomics. c) The promotion of public awareness of genetics and genomics as they relale to health and diseas8. d) The support of professions contributing to applications of genetics and genetics In Ihe health care systems of the United Kingdom. e) The making available of infoimed opinion on issues of public interest In relalion lo genetics and genetics. f) The provision of a forum to co-ordinate and assist as appropriate Ihe activilies of the Constituent Groups. g) The co-operation and collaboration with other nBlicnal and International societies which promote the study and practice of clinical genetics and genetics. The British Society for Genetic Medicine is an independent professional body. 11 is an umbrella organisalion of professional associations, including the Clinclal Genetics Sociely (CGS), Association for Clinical G8nomic Scienc8 IACGS) and Association of Genelic Nurses and Counsellors (AGNC) and special interest groups including the Cancer Genelics Group (CGGI and newly formed Felal Gonomics Group {FGG). The member assoclatlons are referred to as consliluent societies or specialist inleresl groLrps. In In addition, the BSGM has ils own individual members who are nol necessarily members of a constiluenl group. The common purposes of the membership is the promotion, encouragement and advanGement of genetic and genomic science in clinical and research practice for the public benefit. In parllcular, the Soclety has an Interest In the provision of genetic and genomic services al a national level, and through the Nalional Health Service, and is asked for reporls and advice on important current or emerging issues. 11 has an active role in the Joint Committee for Genomic Medicine (a tripariile committee together wilh the Royal Colleges of Physicians and Palhologistsl- In conducting the SoCetY,5 aGlivilies, the Trusl&es have given due regard to the guidance published by the Charity Commissic>n on public benefit. In 5etling objeclives and planning for aclivilies. Ihe Truslco5 have given due consideration to general guidance published by the Charity Commission relating to public benefst, including the guidance 'Public benefit.. running a charity (PB2)'.
British Society for Genetic Medicine Trustees. Annual Report (conllnuedj Year ended 31 March 2025 Achlevements and performance The Executive has continued to meet monlhly online. supported by the Royal Society of Biology (RSB)- The monthly online educational offering lo members continues lo be a great success and has consislenlly been attracting mole regislralions. The Society has established a new committee named 'Ernerging Technologies" with partlGipation from external stakeholders. Its current focug is Al in Genomics and Gene Therapies. The committee will explore implications of these technologies in practice as well as address awarenessleducalion gaps within our membership,. to enablo both lechnologies to be embedded in practice safely, The new membership Tier, known as "aifiliale member" offering membership tu non genetics specialists who have an interest in our field, has gain8d Iraclion. Our sociely now has x affiliate members. Thè BSGM executive has agreed to commission a stralegic review ol BSGM'S rnission and vision- with involvement from all consliluenl groups, a number of palienl charities, governrnenl officials and colleagues from Royal Colleges. This work is undeTway and we expect results lo be shared later in the year. with a summary of key actions to be available by end of year. Our n8wly formed EDI Gommiltee (Ethnicity. Dlverslly and Inclusion} has already shown impact in our society through.. shared good practices. the review of our travel award ellgibilily crlleria. resulting in more equitable provision of supporl to members an improved abslracl scoring system used in BSGM 2024 conference. which encourag8S researchers lo consider EDI factors in sludy design. Worklng wlth external bodies BSGM has Gonlinued lo aGI as a source of expert advlce, raising the profile of genomics, and supporting professionals in clinical and research practice by.. Working with the NHS England Genomics Unil lo develop a new Service Specification for the NHS Clinic81 Genetics Service, and participating in various activities across the four devolved nalions (Genomic M8dicine Service Clinical Reference Group, Genomlcs Strategy and Scientific Worklorce groups) to support genomic medicine practice and development across Ihe UK. Working wilh Genomics England, offering feedback lo short and long lerm strategy and activities Participating in various inilialives relating to the evolving roles ol Clinical Genelicists, Genomic Laboratory staff and Genetic Counsellors, and co-developed Ihe"CGS Report 2024,, Maximising the Patient Benefit of Genomics the evolving rDle of thè Clinical Genetics Services" Working with represenlalives from the devolved nations, Genomic Laboratory Hub Direclors in England, and the NHS Enqland Genomics Unit to coordinate genetic lesling services in the devolved nations. Working with the European Society of Human Genetics (ESHG) to amplify our advocacy efforts. Participating in Ihe Department of Health and Social Care's UK Rare Diseases Forum. The purpose of the UK Rare Diseases Forum is to provide mechanisms for supporling meaningful engagement and collaboration between members of the rare disease community. the UK Rare Disease5 Framework Board, and nalion-specifiG delivery or implementation boards lo develop nalion-specific aclion plans.
British Society for Genetic Medicine Trustees, Annual Report (continvedj Year ended 31 March 2025 Participating in Ihe Genomics Professional Partnerships Group hosted by the Acaderny of Medical Royal Colleges. Engaging with patienl support groups and charities to onsure a close collaboration and alignment. We have held several meetings with Unique, Genetic Alliance and Breaking Down Barriers in the last yeai. Invited to attend alongside olher key stakeholders to the Mulliomics, Al and Health roundlable on 3rd March 2025, or9anised by the PHG. Joint Committee on Genomics in Medicine (JCGM).. JCGM is a key organizalion which links BSGM Into the wider clinical community. It is 8 joint initiative of th& BSGM, Ihe Royal College of Physicians and the Royal College of Palhologisls, and provides a roule of communication to the Medical Director and Chair of NHS England. BSGM assLimed the rotating responsibility foi. Chairing JCGM in January 2022, wilh Professor Anneke Lur.assen serving as Chair. Discussions have bègan lo help expand this group and strengthen ils impact. The BSC?M has been considering ol hosting this committee. BSGM ConferenGoslMeeting51Education BSGM has been plannlng Ihls years conference whlch wlll be hosted in London in November 2025. BSGM 2024 conference has b8en d81ivered successfully, and has hosled talks from key stakeholders in the space of genomic medicine, Including NHS SROS, Senior academics from UK and Europe. The theme wa5 Al and Gene Therapies. a plenary was jointly hosted by Ihe British Sociely for P&ell and Gene Therapy, BSGM was invited to host a workshop on Al in genomic5 at The Festival of G8nomics h81d in January ?.024. The emergin9 lechnologi8s commille8 allended and ha5 led a highly interactive session, I"he constituent and special interest groups of BSGM held conferences during the year as follows.. Associalion for Clinical Genomic SGlence.' 10-11th June 2024 Clinical Genetics Society; 11th March 2025 Associalion of Genetic Nurses and Counsellors.. 17-18th Septebe 2024 UK Cancer Genelics Group {UKCGGJ.' 15th May 2023 and 5-61h December 2024 Felal Genomics Group (UKFGG).. no meeling held The BSGM conference, along with Ihose of the consliluent and sp8cial interest groups, have been routiriely recofded with recordings being made available to members via the BSGM website. L.unch and Learn sessions are ongoirbg., feedback from sessions rernain posilive with high level of engagement from our membership (150-500 regislralions per session). Policy BSGM worked to produce Iwo importanl slalemenls lo guide clinical practice this year.. Familial genomic information= Scope, Gonlexl and impliGations for practice, Dec 2024 Iwilh the PHG and The Cenlre for Personalised Medicine-oxford University) The changing landscape of genelics and insurance in the UK, Nov 2024 (with The Centre for Personalised Medicine - Oxford University) ACGS also has produced a key doGument.' ACGS Best Practice Guidelines for Constitutional Karyolype Analysis and Targeted Chromosome Analysis
British Society for Genetic Medicine Trustees. Annijal Report (continued) Year ended 31 March 2025 Communications The newly appoinled comms chair has built a comrris team, with distinct Toles.. which will benefit Ihe coordination of our comms activities. We have continued to interact well with the media. Our Comms Cornmillee has completed a suNey of our membership in view of exploring preferred comms practices as well as media channels. Our membership noted they are less engaged on X - which was also observed Ihrough our metrics, as engagement has been significantly lower Ihan Linkedin. The decision lo stop using X was made by our executive following membèrship opinion. Our Linkedln page which has 1316 follow&rs (4x more than last y8arl and is conllnuing lo grow. The Comms committee has organised meelings with comms groups Irom all constiluenl groups lo di5Guss website upgrade as well as a comins plan. Following agreemenl at exec, we have commissioned The Works to undertake an upgrade for all consliluenl group wÈbpagos. We have also commissioned a communications agency to work with us to prepare a newsletter te,mplale and update our bianding kit. A new51elter is expected lo b8 sl)ared later in 2025. This year has seen our society approached by medla for commenl on topics related to our aclivilies. We have engaged with a number of media oullels including the Guardian, Daily Mirror. Financial revlew Measure of pgrformance At the end of this financial year 2024-25 the Income and expendlture accounts show a negative balance of Income over expendilure, The incoming resources for the year were £171,626 (2024.. £124,156) The society's aclivilias hav8 r8sulled in a deficit of £19.616 (2024.. surplus £26>. Reserves policy Our accounting policy is lo clear debts, ensure that expenditure can be mel wilhin the year from income, maintain reserves for regular and necessary liabilitles and lo earmark resources in line with policy oblectives. A) Reserves Two regular and necessary liabilities are Ihe annual conference and the admiiiislralion. Because of increased costs, the reseNe for the unrecoverable cost of a one day conference remains at £27,000 and reserve for one half year ol payment lo RSB for adminislralion is £22,000. Bl Assistance with travel to educalional events £10,000 has been placed in a fund for applications lo assist with travel expenses lor educalional evenls, lo be assessed through an award scheme. Cl Doreen Fox Legacy Fund The executive committee and AGM agreed that the legacy of £62.843 from a benefactor, Doreen Fox, would be used lo assist the provision of specific educational iniliatives. During this financial year, £Nil (2024: £6,586.80) from the legacy was used lo fund recordings of educational events which were made available online for all members of the sociely. D) Genetics and Insurance Fund This fund is being used to support a workshop on genetics and insurance issues.
British Society for Genetic Medicine Trustees. Aiinual Report {cont(nuedJ Year ended 31 March 2025 Plans for future period5 The core professional activities of the BSGM will continue in 2024-25, and be developed throu9h thè work of Ihe five sub-groups of Ihe executive commillee as outlined above. A major review of communications continues, wilh our Websle upgrade and newsleller build ds we would like to amplify our online presence. Following disconlinualion or the Societies. X account, Ihe Comms team will work to develop BSGM'S Blue5ky account, 'Ihere is consideration as to how thè Society can maximise ils impact and consider IssuÈ8 of equalitylequity, diversity and inclusion through ils newly esldblished EDI group. The education81 support to members has been slrengthened with the conlinualion of monlhly "Lunch and Learn" webinars, which are well all¢n(led and will continue lo b8 provided. BSGM is looking forward to hDsling our annual conference in November and will endeavour lo support altendance by BSGM members. Several pieces of policy work are nearing comp181ion and will be published during 2025-2026. The BSGM strategy supported by all constiluenl groups will be finalised by end of financial year and this shall idenlify our future priorities. Further pieces of work will be initiated during the coming year. The Ethics and Policy group has becn working on a n8w policy on DireGI to Consum8r18sting which will be expected lo be published later in the year. The Prenatal Genetics Group is workiny towards the development of new guidance on X linked conditions for Prenatal Diagnosis and Preimplanlation Genetic Testing, and consensus guidelines document. The Emerging Technologies Committee has already scheduled a membership engagement event in 2025-2026 and will aim lo priorilise work based on memberfeedbaGk. The commitlee will also slrengthen BSGM'S relationship wilh BSCC?T by attending the conference in June 2025,. where BSCM was offered a sponsorship stand. Discussions on offering BSCGT Membership, BSGM afflliale member status are underway. The BSGM will engage wllh Colleges linked wlth JCGM and identify tho best roule towards sustaining and expanding the committee. Taking all these measures into account. Ilie Trustees. executive committee and AGM all believe thal the BSGM remains a going Concern, and these accounts have been prepared on that basls. The Iruslees, annual report was approved on 02 December 2025 and slgned on behalf of the board of trustees by: Dr John Dean Trustee
British Society for Genetic Medicine Independent Examiner's Report to the Trustees of British Society for Genetic Medicine Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of Brit15h Society for Genelic Medicine {'the charity.) for the year ended 31 March 2025. Responsibllitles and basis of report As the Iruslees ol the charity you are responsible for the preparalion of the financial slalemenls in accordance with the requirements of the Charities Acl 2011 {'Ihe Acl'l. I report in respect of my examination of the charity's financial slatemenls carried oul under section 145 of the 2011 Acl and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b> of the Act. Independent examiner's statement Your attention 15 drawn to Ihe facl that the Charity has prepared the accounts in accordance wSlh Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charitie5 preparing Iheir accounls In accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in prefererbce lo the Accounting and Reporting by Charilies.. Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the axlanl règulations bul has been withdrawn. l understand that this has been done in order for the accounts lo piovlde a true and fair view in accordance with the Generally Accepted Accounting Practice pffe¢live lor reporting periods beginning on or after 1 January 2019 I have completed my examinatlon. I confirm that no matters have come to my attention In connection wilh the examination giving me cause lo belleve.. 1. accounting records were not kept in accordance with section 130 of the Charities Act. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requSremenls concerning the form and conlenl of the accounls set out in the Charities (Accounts and Reports) Regulalions 2008 other than any requirement that the accounts give a 'true and fair, view whlch Is not a matter consid8red as part of an independent examination. I hav8 no Goncerns and have come across no other matters in conneclion with the examination to which attention should be drawn in this report in order to enable a propèr understanding of the accounts to be reached. This report is rnade solely to Ihe Company's Tnislees, as a body, in accordance with Pail 4 of the Charities {Accounls and Reports) Regulations 2008. My work has been underlaken so that I might slate to the Company's Truslees those mallers l am required lo slate them in an Independent examiner's report and for no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility lo anyone other than the Company and Ihe Company's Trustees as a body, for my work or for this report. Philip Owen FCCA ACA Rostance Edwards Limited Independent Examiner 1 & 2 Herilage Park Hayes Way C2nnock Staffoidshire WS117LT 2 December 2025
British Society for Genetic Medicine Statement of Financial Activities Year ended 31 March 2025 2025 Rèstricted funds Total funds Total funds 2024 Unrestricted funds Note Income and endowment5 Donations and legacies Other charitable activities Investment income Other income 17,985 152.058 1,583 17,985 152,058 1,583 3,125 116,526 1,205 3,300 Total income 171,626 171,626 124,156 Expendilure xpendilure on charitable activities Total expendlture 191,242 191,242 191,242 124,130 191,242 124,130 Net (expenditure)lincome and net movement in funds (19,616) (19,616) 26 Reconclliation of funds Total funds brought forward Total funds ¢arriod forward 260,131 4.400 264,531 264,505 240,515 4,400 244,915 264.531 The statement of financial aclivilies ir)¢ludes all gains and Ioss8s reGognised in the year. All income and expenditure derive froin continuing aclivilies, The notes on page5 11 to 18 form part of these f inancial statements.
British Society for Genetic Medicine Balance Sheet 31 March 2025 2025 2024 Current assets Deblors Cash at bank and in hand Note 13 16,595 258,165 18,739 261.592 274,760 280,331 Creditors: amounts falling due within one yoar Net current assets 14 29,845 15,800 244.915 264,531 Total assets less current liabilities Nel assets 244,915 264,531 244,915 264,531 Funds of the charlty Reslricled funds Unrestricted funds Total charity funds 4,400 240,515 4,400 260,131 15 244,915 264,531 These financial slat&meiils were approved by the board of Iruslees and authorised for issue on 2 December 2025, and 8r8 signed on behalf of Ihe board by: Dr John Dean Trustee The notes on pagos 11 to 18 form part of these financial slatements. 10
British Society for Genetic Medicine Notes to the Financial Staternents Year ended 31 March 2025 General Informatlon The charity is a public benefit enlily and a registered charity in England and Wales and is unincorporated. The address of the principal office is British Society for Genetic Medicine. 1 Naoroji Slreet, Islington, London, WC1X OGB. Statement of compliance These financial statèments have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in tho UK and the Republic of Ireland,, the Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard aps)licable in the UK and Republic ol Ireland (FRS 102) (Charities SORP IFFi,$ 102)) and the Chariti8s Act 2011. Accounting pollcles Basis of preparation The financial slalemenls have been prepared in accordance wilh the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Slalerrtenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102), the Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland (fRS 1021 and the Charities Act 2011. The financial sl<ilemenls have been prepared lo give a 'lrue and fairf view and have depart6d the Charities (Accounts and Reports) Regulations 2008 only to the exlent required lo provide a 'lrue and f8ir' view. This departure has involved following the Charities SORP (FRS 1021 published October 2019 ralher Ihan the Accounting and Reporling by Charities: Statement of R8Gommended Practice effective from 1 April 2005 which has since been withdrawn. British Society for Genetic Medicine mee15 the definition of a public benefit entily under FRS 102. Assols and liabilities are initially recognised al historical cosl or Iransaclion value unless otherwise slated in the relevant accounting policy. The financial statements are prepared in slerling, whlch is the functlonal curfency of the enlily. Golng concern There are no material uncertainties about the charity's ability lo continue. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affecl the amounts reported. These eslimales and judgements are continually reviewed arjd are based on experience and other factors, in¢luding expect3tions ol future events Ihal are believod lo be reasonable under the circumstances. 11
British Society for Genetic Medicine Notes to the Financial Statements (continugd) Year ended 31 March 2025 Accountlng pollcies (conlinu•d) Fund accounting Unrestricted funds are available for use at the discretion ol Ihe trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by Ihe trustees for particular future project or commilrnenl. Restricted funds are subjected lo reslriclions on Iheii expendiluie declared by the donor or Ihrough the lerms of an appeal, and fall into one of two siib-classes.. reslricled income fund5 or endowmenl funds. Incomlng resources All incoming resources ar& included in the statement of finaricial activities when entitlement has passed lo the charity,. it is probable Ihal the economic benefits associaled with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories ol income.. income from donations or grants is recognised when there is 8vidence of entillemenl to the gift, receipt is probable and ils amounl can be measured Teliably. legacy income is recognised when receipt Is probab18 and enlSllemenl is eslablished. income from donated goo(Js is measured at the fair value of the goods unless this Is impracllcal lo measure reliably, in which case the valu8 is derived from the cost lo the donor or Ihe eslimaled resale value. Donated facilities and seNices are recognis8d in the accounts when received if tPie value can be reliably measured. No arnounls are includ8d for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the conlracled service. This is classified as unrestricted funds unless there is a contractual requiremenl for il lo be spent on a parlicular purpose and returned if un5penl, in which case il may be regarded as restricted, 12
British Society for Genetic Medicine Notes to the Financial Statements (contlnvedj Year ended 31 March 2025 Accounting policles (continu) Resources expended Expenditure is recognised on an accruals basis as 8 liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings ol the slatemenl of financial activities lo which il relates.. expendilure on raising funds iiicludes the costs of all fundraising aclivilies, events, non-charilable trading activities, and the Sale of donated goods. expenditure on charitable aclivilies includes all costs incurred by a charity in undertaking aLlivities Ihat further ils charitable aims for the benefit of Its beneficiaries, including those support costs and costs relaling to the governance of the charity apportioned to charitable aclivilies. other expenditure includes all expenditure Ihal is neither related to ralsirig funds for Ihe charily nor part of ils expenditure on charitable activities. All cosls are allocated to exp8nditure categories reflecting the use of the resource. Direct Costs allribulable to a single aclivily are allocated directly to that activity. Shared costs are apportioned between the activities they Gontrlbule to on a reasonable. justifiable and consisl8nl basls. Flnanclal Instruments A financial asset or a financial liablllly is recognised only when the charSty beLorri8s a party to the contractual provisions of the instrument. Basic linanclal instruments are initially r8Gognised al th8 amount receiv8ble or payable including any relal8d transaction costs. Current ass?Is and Current liabilities are subsequently measured al the cash or other consideration exp?.cled to be paid or received and not discounted. Debt instruments are subsequenlly measured at amortised cost. Wher8 investments in shares are publicly traded or their fair value can otherwise be measur8d rellably, the investment is subsequently measured al fair valu8 with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment. Other financial instruments, including derivalives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed dl a rale of interest that is not a market rate, in which case the asset is measured al the present valuo of Ihe future payments discounted al a market rate of inl&resl for a similar debt instrumenl. Other financial Instruments are subsequently measured 81 fair value, with any changes reGognised in the stalemenl of financial aclivilies, with the exception ol hedging instruments in a designated hedging relalionship. Financial assets Ihal are measured al cost or amortised cost are reviewed lor objective evidence of impairment al the end of each reporiing dale. If there is objeclive evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which Ihe initial gain wa5 recognised. 13
British Society for Genetic Medicine Notes to the Financial Statements (conllnued) Year ended 31 March 2025 Accounting pollcles IntInuedj Financial instruments (conflnu*d) For all equity instruments regardless of significance, and other linancial assels that are individually significant, these are assessed individually for impairment. Other financial assels are either assessed individually or grouped on the basis of similar credit risk characteiislics. Any reversals of impairment are recognised immediately. lo the exlenl Ihal the reversal does nol result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment nol previously been recognised. Donatlons and legacles Unreslricled Total Funds Unreslricl8d Total Funds Funds 2025 Funds 2024 Sponsorshlp Sponsorship 17,985 17.985 3,125 3.125 other charltable actlvlties Unrestricted Total Funds Unreslricled Total Funds Funds 2025 Funds 2024 Subscriptionsljoining fees BSGM AGM fees 113,688 38,370 113,688 38,370 152,058 116,528 116,526 152,058 116,526 116,526 Investinent Income Unrestricted Total Funds Unreslricled Total Funds Funds 2025 Funds 2024 Bank interest 1,583 7,583 1.205 1,205 Expenditure on charitable activities by fund type Unreslricled Funds Restricted Total Funds FLtnds 2025 Direct costs Support cosls 106,978 84,264 106,978 84,264 191,242 191,242 Unreslricled Funds Restricted Tolal Funds Funds 2024 Direct costs Support costs 59,841 59,889 4.400 64,241 59,889 119,730 4,400 124,130 14
British Society for Genetic Medicine Notes to the Financial Statements (continuèd) Year ended 31 March 2025 Expenditure oti charitable activitles by activity type Activities underlaken directly Support Total funds costs 2025 Total fund 2024 Direct costs 106,978 84.264 191,242 124.130 Analysis of direct cosls 2025 2024 Subs to conbtiluenl societies Membership of ESHG Society meelings 42,010 8,757 56,211 106,978 44,800 8,501 10,940 64,241 Analysls of support costs Analysis of support costs Total 2025 Total 2024 Administralion costs Printing & marketing Travel & subsisleiiGe Governance costs Bank Gharges Legal and prof8ssional fees 42,139 31,225 2,084 3,580 4.936 300 42,139 31,225 2,084 3,580 4,936 300 39,662 11,247 275 3,500 5,205 84,264 84,264 59,889 10. Independant examinatlon fees 2025 2024 Fees payable to the independent examiner for- Independent examiiialion of the financial slatemeri15 3,580 3,500 11. Staff costs There are no employees of the company and therefore no individual received remuneration of more than £60.000. 12. Trustee remuneration and exp8nses During the year, no Trustees received any remuneration or other benefits {2024 £Nil). During the year travel expenses were reimbursed lo one 12024.. one} trustee amounting lo a value of £701 12024 - £275). 15
British Society for Genetic Medicine Notes to the Financial Statements fconlinu8dJ Year ended 31 March 2025 13. Debtors 2025 2024 Prepaymen15 and accrued incoine 16,595 18,739 14. Creditors., amounts falling due withln one year 2025 2024 Trade creditors Amounls owed to constituent groups Accruals and deferred income OlheT creditors 517 15.065 13,423 840 1,120 1,180 12.035 1,465 15,800 29,845 Included in accruals and deferred income is £6,110 {2024:£7,090) of deferred income relating to subscriptions received in advance. 15. Analysis of charitable funds Unrestrlcted funds At 1 April 2024 Income Expendilure At 31 March 2025 Transfers General funds Travel awards fund Conference fund Adminstration fund Doreen Fox Legacy fund 154,169 8.000 27,000 22,000 133.256 (101,9431 {1,9681 {45,192) (42,1391 (52,929> 3,968 6,822 42,139 132,553 10,000 27,000 22,000 38,370 48,962 48,962 240,515 260,131 171,628 (191,2421 Al 1 April 2023 Income Expendilure At 31 March 2024 Transfers General funds Travel awards lund Conference fund Adminslralion fund Doreen Fox Legacy fund 143,156 8.000 27,000 22,000 124,156 (68.440) {5,04 1) <44.7031 5.041 154,169 8,000 27,000 22,000 189,6621 39,662 55,549 16.587) (119,730) 48.962 255,705 124,156 260,131 16
British Society for Genetic Medicine Notes to the Flnancial Statements (¢ontlntsed) Year ended 31 March 2025 15. Analysis of charitable fund5 (contlnued) Travel awards funds In place specifically lo assist applicants with travel expenses foi educational events, assessed through an awards scheme. Conference fund Resetve for the annual one day conference which is an unrecoverable cosl. Admlnistralion fund Reserve for the annual administration payment to RS8 in respect of administration, Doreen Fox legacy fund The incorne received as 8 legacy from a b8nefaclor, Doreen Fox. has been placed in a fund for educational or public awareness initiatives. Restricted fund Genetics and Insurance fund Income received to be used lo facilitate a constructive dialog beeen Ihe insurance Iriduslry, the genetics community and the public. Restrlcted funds At 1 April 2024 At 31 March 2025 Incom8 Expendilure Transfers Genetics and Insurance fund 4,400 4,400 At 1 April 2023 Al 31 March 2024 Income Expenditure Transfers Genetics and insurance fund 8,800 (4,4001 4,400 16. Analysls of net assets between funds Unrestricted Funds Reslricled Total Funds Funds 2025 Current assets Creditors less Ihan 1 year Net assets 270,360 {29,8451 240,515 4,400 274,760 (29,845) 244,915 4,400 Unreslricled Funds Restricted Total Funds Funds 2024 Currenl assets Creditors less than 1 year Net assets 275.931 (15,800) 260,131 4,400 280,331 (15,800) 264,531 4,400 17
British Society for Genetic Medicine Notes to the Financial Statements (conlinued) Year ended 31 March 2025 17. Related parties There were no related party transactions duririg the currenl or prior year. 18