EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION CONTENTS Page RefeRnce and Admlnlstratlve Detai18 Report of the Council of Management Report of the Auditors 10-13 Consolidated and Association Statement of Financial Activities 14 Consolidated and Association Balance Sheets 15 Consolidated and Association Ststement of Cash Flows 16&17 Statement of Accounting Policies 18-21 Notes to the Financlal Statements 22-30
EUROPEAN RENAL ASSOCIATION - REFERENCE AND ADMINISTRATIVE DEfAILS EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION status The following report and financial statements describe the combined affairs of the Association and its subsidiary o)mpanies consolidated together as a charitable group. A report and financial statements for the subsidiary company is available separately, Council of Management al Five ex-officio members, namely Prof. Carmine Zoccali (President} Ilerm ended 08.06.2020} Prof. Christoph Wanner" (Presidenll Iterm stsrted 08.06.20201 Prof, Ivan Rychlik" ISecretary-Treasurerl Prof. Danilo Fliser, (Renal Science Chair (Chair of Administrative Offices)} Prof. Denis Fouque. (Editor-in-chief of "Nephrology Dialysis Transplantab'on") Prof. Ziad Massy. (Chair of the Registry (Clinical Nephrology Governan Chairl} bl Eight ordinary members, namely.. Prof. Petrijs Johannes Blankestsjn (term ended 08.06.20201 Prof. Annette Noemi Bruchfeld (term ended 08.06.2020) Prof. Mario Gennaro Cozzolino. Prof. Ronald Teunis Gansevoort. Prof. Dimilrios &)umenos' Dr. Maria Jose Soler Romeo. Prof. Alexander Rosenkranz. (term started 08.06.20201 Dr. Kathryn Isabelle Stevens" Prof. Roser Torra. (term started 08.06 20201 Prof. Serhan Z. Tuglular. (term started 08.06.2020} Prof. Christoph Wanner {term ended 08.06.20201 I'in office at 31 December 2020} Executlve Manager Monica Fontana Audltors PKF Liltlejohn LLP 15 Westferry Circus Canary Wharf London E14 4HD United Kingdom Registered Charity Number 1060134
EUROPEAN RENAL ASSOCIATION - REFERENCE AND ADMINISTRATIVE DAlLs EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Maln Bankers & Investment Advisors HSBC UK Bank PIC 69, Pall Mall Sl James London SW1Y SEY United Kingdom UBS AG 45, Bahnhofstrasse CH-8098 Zurich Switzerland Azimutcapitsl Management 4, Via Cusani 20121 Milano Italy Credit Agricole Cariparma Piazzale Barbieri 291A 43125 Parma Ilaly Prlncipal Office 15 Westferry Circus, Canary Wharf London E14 4HD United Kingdom Operatlve Headquarters Via XXIV Maggio, 38 43123 Parma Italy Solicitors Russell-Cook6 2 Putney Hill London SW15 6AB United Kingdom
EUROPEAN RENAL ASSOCIATION- REPORT OF THE COUNCIL OF MANAGEMENT EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION The members of the Council have pleasure in presenting their repofL together with the audited financial statements ft)r the year ended 31 $1 Dember 2020. Structure, Govemance and Mana9ement European Renal Association European Dialysis and Transplant Association is an unin¢orporaled association whh was registered with th8 Charity Commissioners on the 14th January 1997 under number 1060134. The goveming in$trum&nt is the Charity's Constibjtion, which was completely revised and which was finally approved on June 8, 2020. The administration of the Association as determined by the Constitution is carried out by.. The Gener81 Assembly The Council b} The President of the AssocAation dl The Secretary-Treasurer The Renal Science Chair (Chair of Adminisliative Offices) Election of Council Membe Ordinary members of the Council are elected by the General Assembly. The candidates must be full members and supported by two otherfull members. The lem ofthe ordinary council members isthree years bul no more than three ordinary Council members may change each year. Therefore, if more than three members end their term of office at the same lime, the members necessary lo satisfy this requirement will remain in office for one more year. The decision as to who will continue will be made by lol or by secret ballot by the Council members. An ordinary member at the expiry of hislher period of Offi will be ineligible for re-election as an ordinary member of the Council for a priod of three years. There are eight ordinary council members. Ex-officio members of the Council are nominated one year in advance by the Council and must then be elected by the General Assembly. They must be fvll members and also be supported by two other ftjll members, furthermore the candidates must have at least five years seniority in the Association. There are five ex-offfcio members.. 11 The President of the Association is appointed for a perd of three consecutive years and cannot be re- elected. He or she can only be appointed if he or she was elected as an ordinary council member 21 The Secretary-Treasurer is appointed for a period of three years and may be reelected for a further period not exceeding three years. except in the special circumstance described below. 3) The Renal Science Chair (Chalr of Administrative Offices) is appointed for three years and may be re- elected for a fijrther period not extreding three years, except in the special circumstance des¢ribed below. 4) The Edltor in Chief of the official ERA-EDTA Joumal (Nephrology Dialysis Transplantats"on apF)oinled for three years and may be relected for a fvrther period not exceeding three year5. NDT) is 5) The Chair of the Registy Iclinical Nephrology Governanc2 Chair} is apFJointed for three years and may be re-elected for a further FerKJd not exedIng three years. No more than one of the ft)Ilowing ex-Off10 members can end their term al the same time.. the Secretary- Treasurer and the Renal scien Chair (Chair of Administrative Offices}.' unsS one of these eX-off10 members will main on the Council as a result of being elected for another ofthe ex-officio posts. Therefore. if one of these ex-officio members end their term of office at the same lime and is not elected lor another of the ex-officio posts, the ex-offKio member essary to satisfy this requirement will remain for one mo year. The decision as lo who will continue will be taken by the Council upon proposal by the President.
EUROPEAN RENAL ASSOCIATION - REPORT OF THE COUNCIL OF MANAGEMENT EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Structuro, Governance and Management l¢ontinu¢d The minimum numter of Counal members is 7. the maximum 13,. there ¢annot be more than people from the same County. The Association is represented by its President. or by any other person appointed by the Council. Members of the Association are Honorary members, Senior members, Full members, A$$ociate members and Congress members. The General Assembly is the supreme authority of the Association. The meetings of the General Assembly can be ordinary or extraordinary. Inductlon and Training of Councll Members It is not a requirement that newty elected Council members be trained. All newly elected Council members received a copy of the Constitution and Rules as well as a presentation regarding the duties and the rule as trustees with further links of relevant materials all of which they are asked lo read carefully. Council of Management's Alms. ObJectNgs and Responslbllltles The Council meets on average three to four b'mes a year, plus there are other informal meetings as required. The Council is the executive body of the Assoaation and in furtherance of the objects of the Assoaation the Council may execute powers to.. Raise fvnds bl Buy, take on, lease or exchange any property Subject lo o)nsent, sell, lease or diswse of all or any part of the propety of the Association Subject lo consent, borrow and charge all or any part of the Property of the Association Employ and dismiss Staff c0-0rate with other charities Support any charitable trusts Incorporate a subsidrary company Do all such other lawful things to achieve the objects'ves of the ASsocialn. dl gl h) Charity law requires the Trustees to prepare financial statements for eath financial year which give a true and fair view of the stale of affairs of the Charity and of ils financial activities for that period. In preparing those financial stslements, the Trustees are required to: Select suitsble accounting policEs and then apply them consistently Make judgements and estimates that are reasonable and prudent Stale whether the F¢)liaes adopted are in accordance with the Statement of Recommended Practice for Charities, and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements Ppare the financial stslements on the going COnM basis, unless it is inappropriate to assume that the Charity will continue in business. b) dl The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the financial position of the Charity, and enable them to ensure that the financkgl statements Comp with relevant legislation. They are also responsible for safeguarding the assets of the Charity, and hence ft)r taking reasonable steps for the prevention and detection of fraud or other irregularities.
EUROPEAN RENAL ASSOCIATION- REPORT OF THE COUNCIL OF kfjANAGEMENT EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Struclure, Governance and Management IcontSnued) Decislon maklng and the relatlon$hlp between offices Overall il is the General Assembly that is the supreme authority of the Association. The General Assembly can be ordinary and would be held at the lime and place of the annual congress. or the General Assembly can be extraordinary, and summoned in special circumstances. The Council however is the executive body of the Association and acts on ils behalf. The group has offices in various European countries, these offices are simply executive and not decisional. in fact staff follows the instructions outlined and decided by the Councll. Foreign Currencies The activib'es of the Assoaation are transacted in various foreign currencies, the primary currency being Euros. The financial statements of the AssocIatn are therefore translated into Euros where appropriate. Subsldiary Trading Companies The Associatbn has a trading subsidiary company, ERA Eurocongress Limited, a company registered in England and Wales number 03431245. The company's primary activity is to sell exhibits'on spacE. industry symposia, advertising and other services to companies mainly in conjunction with congresses arranged by the Association. ERA Eurocongress Limited received, as a donation. on 4 April 2016 Euromeetings Srl, a small limited Italian eompany which. on September 4, 2020 wa$ put into liquidation with the aim of closing it during 2021 at the late$t. Objeetlves & Activities The main purpose of the ASslatIon is the advancement of medical knowledge for professionals by promoting scientific and clinical advances in the field of nephrology, dialysis, renal transplantation. hypertension and related subjects and consequently is for the benefit of the p8tienls and thus the public. The Association achieves ils objectives by publishing medicaljournals (Nephrology Dialysis Transplantation and Clinical Kidney Journal, )th published by Oxford Univ. Press). holding annual congresses. producing epidemiological data for research in the field of interest of the Association through the ERA-EDTA Registry, organising continuing medical educats'onal courses, supporting fellowships and grants for young professionals, supporb'ng scientific research ftir important scientific clinical trials that could bring extreme benefit to nephrology patsents, bul also SUPF)Orting specific working groups and committees that engage both in research projects as well as in educational courses, producing advise and implementation guidance as well as position statements for dinical practi thmugh ERBP (European Renal Best Praclicel. disseminating educational material through its congresses and courses which in 2020 were done all virtually and co-operating with other scientific organisalions to reach the oth'ectives outlined above. 2020 was a challenging year due to the global Covid-19 pandemic that heavily impacted some of our major initialive5, among these our fellowship programme but, in particutar, our annual Congress which we were able lo Iransfom from a traditional live meeting into a fully virtual one in only 11 weeks. The 2020 Congress was extremely succ8ssfvI both from an income point of view and also a participation point of view, with over 5.000 delegates attending virtually from all over the world and we were able to keep the same full scientific programme and key features, including the annual General Assembly at which the new Constitution was approved for a second time and thLJS became effective. The pandemic however underlined how hawng within the group a limited company that was in charge of the organizalion of the annual Congress was a gat liability. Al the beginning of September EurThneets'ngs srl. a limited o)mpany fully owned by ERA-Eurocongress Ltd (owned by ERA-EDTAI was closed and a formal agreement for the organization of the 2021 Congress was signed with an external professional Congress organizer IPCO} thus transforming the fixed costs of Euromeelings srl into a variable one and, in summary, prole¢ling the assets of the Charity.
EUROPEAN RENAL ASSOCIATION - REPORT OF THE COUNCIL OF MANAGEMENT EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Objectives & Activsties Icontinuedl This oplimizalion was done also with one of the committees transfomiing its tasks. In September of 2020 il was decided to change the $¢ope and tasks of ERBP thus no 5onger creating guidelines. which are an exlrernely costly initiative for a relatively low outcome taking also into consideration that in the fEld of nephrology there are already other guideline bodies. ERBP is now being restructured to make sure that iys exlIent group of experts within ils Advisory Board fvlfil their role lo support our members with posilK)n statements and implementation of already existent guidelines in the field thus delivering excellent advice for clinical practice for the advancement of nephrology in particular in Europe. 2020 also saw the initsalion of our currently very successful E-seminar programme. having both general hot topics of interest freely available for all professionals as well as specifi¢ highly educational seminars ft)r our members that give formal CME accreditation for professional development. this second programme started in 2021. This programme has also generated an income for the Society thus going into the direction of allowing the Charity to diversify ils income and thus not to be so dependent on the annual Congress revenues for its many initiatives. An important decision taken by Council that went into effect in 2020 was charging author fees for the Society's Open Access Journal {Clinical Kidney Joumal - CKJI which saw a steady increase in submissions thus demonstrating how the recently acquired Impact Factor has allowed a higher recognition and reputation In the nephrology community of our Journal as well a5 becoming a source of income of our Society. In 2020 two ERA-EDTA supportedlendorsed inilialives received EU funding support.. NEPHROPATH (Nephrology Pathway} and CONNECT (Cognitive decline in Nephro-Neurology'. European Cooperative Targell. Furthermore, a project created by our committee NNPC (Nephrology and Public Policy Committee) PANACEA limProving clinical mANagement of pAlients with CKD using rEal-world dAlal - received an excellent rating by the EU commission even if. unfortunately, no funding. The long-term final aim of all these projects 1$ to benefit the patlent outcomes with rogard to survival as well as quality of life. 2020 saw the finalization of grouping under one single website many other external sites of core inib'alNes of our Society.. Registry, ER8P and all the webcasts of the many talks of our courseslcongresses. We wll continue our efforts with the aim of making it even more 'swnple anKI easy.. ERA-EDTA fully supports the ERA-EDTA Registry that collects dats from various Dialysis Cenlres in Europe lo produce epidemiological studies and many excellent papers published in world renown scientific Journals. It also produc1 extmelY relevant statistical annual reports that are freely awessible through our website. ERA-EDTA also supports the ESPNIERA-EDTA Regislrywhich is one oflhe most comprehensive paediatric nephrology databases worldwide and allows for many important publications. Creating awareness which is much needed in the field of Nephrology. In 2020, together with ASN (American Society of Nephrology) and ISN Ilnlemational Soaety of Nephrology) an infographicwas created to illustrate the huge impact that nephrology ailments have woildwide. in fact. al any given time there are 850.000.000 people who have some kind of kidney diseasel Creating awareness is essential and. again, also for this reason. ERA-EDTA is part of various Alliances together with other medical Societies.. 11 Biomedical Allianee.. ERA-EDTA is actively involved in the CME Icontinuous Medical Education} Experts Permanent Committee., in the evolvement of Data Protection issues for medical researth in Europe., in funding opportunities for Research in Europe - BioMedScape', in the Policy Officers Task Force,. in the Clinical Trial Task Force and in the Journal Publication Committee specifically created to closely monitor the evolulton of "Plan S.; 2) EKHA- European Kidney Health Alliance. together with the European Dialysis nur5es' association, the patient's association and the Dutch Kidney Foundation., 31 KHI IKidney Health Iniliats'vel. For a fvll and detsiled oulline of the various activities of the AssoclatK)n perfonned in 2020 please go to our web-site Iwww.era-edta.orgl to view the"2020 Annual Reporf. We have referred to the guidants contained in the Charity Commissions. general guidan on public beneflt when reviewing our aims and objectives and in pknning our fvlure activitses.
EUROPEAN RENAL ASSOCIATION - REPORT OF THE COUNCIL OF MANAGEMENT EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Financial Review The net movement in group funds as shown by the Ststement of Financial Activities on page 14 shows a surplu5 Of É1.083,01612019.' É729,1591- The Group's principal funding sour$ are membership fees. congress memberships, congress exhibitions, various sponsorships mainly linked to the annual congress, unrestricted grants as well as the NDT and CKJ Journals. 11 is from these incoming SOurceS that the Group is able to achieve and continue to supp)rt its main obje¢lives Investment Policy & Perfomiance The day lo day management of the Association's investrnent fvnds are delegated to professional investment managers. The Council of Management's Investment policy is to pre*rve the capital to further the Association's education81 and scientific activities investing a part of il in low I medium risk investments. The Association's views contsrning investments are that any financial investment made should not cause a conflict of interest in the ethi[21 or scientific aims of the Association. Assets are managed by Azimut. Movements on investments for the year are disclosed at note 8 to the financial statements. Reserves Policy The Council of Managemenvs policy on reserves is to accumulate surplus funds sufficient lo sustain all the activities of the Association for at least a year in the event of some natural or politscal catsslrophe resulting in the cancellation of the annual congress and therefore the loss of the major source of income for the Association. The reseNes target Is É6m and al the year end the group held accumulated unrestricted funds ofÉg,339,67312019'. É8,256,657}. In accordance th the constitution. the charity holds a 'Reserve Fund, wlhin its reserves which comprises the total market value of investments held at 31 December 2020 of Q,709,033 {2019.' &.668,2781 together with cash fvnds of ÉNil. {2019 éNill,' tolalling Q,709,033 {2019'. Q,668,2781 which is below the 'ReseNe Fund Maximum Amount, ofÉ6,000,000 allowed by the Constitution. Fundraising Pollcy We are not currently engaging in any fundraising a¢b"vity. Risk Management Policy The Council of Management has examined the principal areas of the Association's actimties and considered the major risks fa(Ed in each of these areas. In the opinion of the Council of Management the Association has reviewed systems which under normal cireumstances should allow these risks to be mitigated to an acceptable level in its day-to4ay operations. The Council of Management has identified a number of risks and as a ¢onsequence has introduced the following Risk Management Policy- Congresses al Reduction in Attendance The financial viability of a congress is dependent on the number of registered congress members that attend. Circumstances out of the control of the Association may arise which significantly reduces the number of congress members attending the annual congress. To restrict the financial loss which would ensue, ERA-EDTA and ERA Eurocongress has in place a contract with congress venues and associated suppliers which allows for 8 reduction in the rental space, temporary staff. and catering, wilhoul incurring any penalty.
EUROPEAN RENAL ASSOCIATION - REPORT OF THE COUNCIL OF MANAGEMENT EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Risk Management Policy Icontinuedl ERA-EDTA has the power lo negob'ale the variable costs in order to Teduce considerably the penalty fees. Since 2020 ERA-EDTA has invested in virtual IT applications and programmes that allow active participation by o)ngress attendants also remotely in a virtual matter thus limiting substantially the problem of having a reduction in attendance. bl Congrgss Cancellotion Pandemic situations. acts of terrorism OT political instability may result in the (ancellalion of a congress. To limit the consequences of this a 'force majeure clause, is included in contracts with all suppliers to avoid the payment of penalties in case there is a need to cancel the annual congress for such reasons. As payments are made over a long period of lime and as political instability is difficult to predict. In case of canlIatIOn agreements with the major suppliers have been put in pla to use any eventual down- payment for a future annual congress Ihus avoiding any kind of penalty fee. cl Personal Safety Contracts with congress cenlres and commercial exhibitors who construct exhibition stands or sub- contract such work to be undertaken musl provide eviden of adequate insurance cover for any personal injury which may arise as a result of accidents occurring to any congress members, speakers. or temporary staff. ERA-EDTA has a specific insurance to (x)ver any liability against third parties. Employees a) Stafl employed by the Association and Euromeelings Srl are issued wilh appropriate contracts which meet all legal requirements of the countries where such staff are employed. Staff employed by Euromeetings Sd were dismissed on 4 Seplemt*r 2020 when Euromeelings was put in liquidation. b) Obligatory Insuran is included in contracts in all the countries where ERA-EDTA staff are employed. Additional insurance is available for employees who are required to travel as a consequence of their employment. Financial Risks Investment Managers are inslTUCted not to invest in high-risk funds and additionally are required to regularly review the investment porttolio and provide a written report lo the Council of the Associab'on. Records of the Association al Electronic Files Files held electronically are copied on a reguL8r basis. such that infomiatB)n is held in at least two separate centres. bl Paper Files Important paper files are held in the administration offices of the Associab'on.
EUROPEAN RENAL ASSOCIATION - REPORT OF THE COUNCIL OF MANAGEMENT EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Risk Managom•nt Policy (continued) cl Confldentlallty Electronic data held by the Association is not disclosed lo third parties without the permtssion of the Member providing the data. d) Vlrus and flrowall Prots¢tion All computers used by the Association arè checked at interyals with the most up to date firewall and anti-virus sothvare. COVID-19 Pandemlc The COVID-19 pandemic present$ a number of key risks to the operations of ERA-EDTA and ils trading subsidiary ERA-Eurocongress. The travel bans in pla have meant that Congress 2020 which was due to take place in Milan was switched to a fvlly virtual Congress. Staff are able to work remotely and records and Systems needed to ensure the business eontinues are in place. Congress 2021 is planned lo go ahead in Berlin bul in a hybrid version allowing ERA-EDTA lo switch to a fully virtual congress if needed. The same will be also valid for the Congress 2022 in Paris and the Congress 2023 in Milan (which was moved from 20201. Whilst there is expected lo be an impact on subscriptions and memberships, this is not antiCiP81ed to be significant based on current assessments. Management and the Trustees are regularty reviewing the financial impact of the COVID-19 pandemic and taking appropriate ath'ons to miligale the risks arisng, to ensure the business can continue lo grow and thrive. Future plans and aellvStle8 One of the most important aims of the AssocIatn is to provide excellent education and $cien¢e to professionals working in the field of fiephroltsgy with the final aim of benefitting the patient, this is even more important in challenging times such as the ones that we are living in since 2020. We have learned very usefijl lessons during the year, for example, the Council decided, from now on, to keep a very substantial virtual component in our annual Congresse$ thu$ making it more inclusive and sustainable. In 2020 Council held meetings every tsvo weeks. This inits'alwe, driven by ne$Sity, will be kept even in the future as il allows a much better collaboration among all Counal members for a better understsnding and thus implementation of all the many inilialives of the Society. Another key element is the optimEation of the Charity reSoUrs, the Council is very attents've lo this governance aspect of the Association and continuous improvements and measurement are being pul in place to make sure that the best costleffeetiveness is reached so that more funds can be used for special new initiatives. like educational webinars supth)rted by our working groups and eommittees, which were actually implemented in 2021. Finally, awarenes$, especially among the general population to educate them on kidney health and disease is key to our fvIU plans and initiatives 50 of whith will be laun¢hed in 2021. y Order of the Councll .{Se¢Rtary-T¥$urerI
INDEPENDENf AUDrroR'S REPORT TO THE TRUSTEES OF EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Oplnlon We have audited the financial statements of European Renal Association European Dialysis and Transplant Association (the 'parenl charity,) and its subsidiaries {the 'group'l for the year ended 31 Dember 2020 which comprise the Consolidated and Parent Charity Statements of Financial Aclivilies. the Consolidated and Parent Charity Balan Sheets, the Consolidated and Parent Charity Cash Flow Statements and notes to the financial statements, including significant accounting p)licies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Unitod Kingdom Generally Accepted Accounting PraCts.l. In our oplnlon, the financial stslemenls: give a true and fair view of the state of the group's and of the parent charity's affairs as at 31 Detsmber 2020 and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in acwrdance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordan with the Charities Act 2011. Ba¥1$ for opinion We conducted ou¥ audit in accordance with International Standards on Audib'ng IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK including the FRC'S Ethical Standard, and we have fulfilled ourother ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opini)n. Con¢luslon$ relating to golng concern In auditing the financial statements, we have Concluded that the trustees, use of the going concern basis of aco)unb'ng in the preparation of the ffinancial statements is appropriate. Based on the work we have performed, we have not identified any material UnrtaIntieS relats'ng to events or conditions that, indiwdually or ¢olle¢lively, may cast significant doubl on the group's or parent charity's ability to continue as a going concem for a period of at least twelve months frorn when the financial ststements are authorised for issue. Our responsibilities and the re¥)onsibilities of the trustees with respect to going concem are descrild in the relevant sections of this report Othor information The other information Comprises the information induded in the Report of the Council of Managemen( other than the financial statements and our auditor's report thereon. The tru51ees are resFX)n5ible for the other information contained within the Report ofthe Council of Management. Our opinion on the group and parent charity financial statements does not Cover the other information and we do not express any fomi of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with tre ffinancial statements or our knowledge obtained in the course of the audit, or otherwise 10
INDEPENDEfrif AUDrroR'S REPORT TO THE TRUSTEES OF EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION other Infomiatlon l¢ontinued) appears lo be materiglly misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misststement in the financial slalements themselves. If, based on the work we have perfotmed, we conclude that there is a material misslatemenl of this other information, we are required to reF)Ort that fr4¢1. We have nothing to report in Ihis regard. Matter8 on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charitvès {A¢xounls and Reports) Regulatsons 2008 require us to report to you if, in our opinion.. the information given in the financial statements ig inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept., or the parent charity financ¢al statements are not in agreement with the accounting records.. or we have not received all the inforMatn and explanations we require for our audiL' or The Counc41 of Management were not entiued lo take advantage of the exemption from preparing a Strategic ReporL Responslbllltles of tru$tees As explained more fvlly in the trustees. responsibilrf(ies sL2tement, the Iruslees are responsible for the preparation of the group and parent charity financial slalements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial slalements that are free from material misstatement, whether due lo fraud or error. In preparing the group and parent charity financial statements, the trustees are responsible for assessing the group's and the parent charity's ability to continue as a going COnM, disclosing, as applicable. matters related lo going COnM and using the going concern basis of accounting unless the trustees either intend lo liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so. Auditor's re8pon8lbllltle8 for the audlt of the flnancial statements We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and the relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are ffft from material misstatement. whetherdue to fraud or error, and to issue an auditorfs reportthat includes our opinion. Reasonable assurance is a high level of assuran, bul is not a guarantee that an audit conducted in accordan with ISAS (UK} will always detect a materk81 misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 11
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Auditorf8 responsibililig$ for the audit of the financlal statements Icontinuedl IrreguSarilies, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of iffegularilies, including fraud. The extent to whi¢h our procedures are capable of detecting irregularities, including fraud is detailed below.. We obtained an understanding of the group and parent charity and the sector in which they operate to identify laws and regulations that could reasonably be expected lo have a dirert effect on the financial slalements. We obtained our understsnding in this regard through discussions with management, sector research and application of cumulalive audit knowledge and experience of the sector. We determined the principal laws and regulations relevant lo the group and parent charity in this regard to be those arising from the Charlties Act 2011. Charities SORP 2019, Financial Reporting Standard 102 and UK employment law. We designed our audit prOdureS to ensure the audit team considered whether there were any indications of non-compliance by the charity wth those laws and regulations. These prOdureS included, but were not limited to enquiries of management. review of minutes and remew of legal and regulatory correspondence. We also identified the risks of material misstatement of the financial ststements due to fraud. We considered, in addition lo the non-rebuttable presumption of a risk of fraud arising from management override of controls, that there was potential for management bias in the judgements made around recoverability of debtors. We addressed this through examination of post year end cash received, review of Corresponden with debtors and discussion of recoverability with management. We also identified potential for management bias in the allocation of support costs against charitable activity ¢8legories. We addres$ed this through reviewing the method used for reasonableness and re- performing the calculation to ensure it had been perfoTmed accurately and in line with the ststed method. As in all of our audits, we addressed the risk of fraud arising from management override of controls by perfoiming audit prOdureS which included, bul were not limited to.. the lesling of joumals.. reviewing accounting eslimales for eviden of bias,. and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Because of the inherent limitstions of an audit, the is a risk thatwe will notdetect all irwularilies, induding those leading lo a material misststemenl in the financial statements or non-compliance with regulation. This risk increases the more that Complian with a law or regulation is removed from the events and transaction$ reflected in the financial statements, as we will be less likely to become aware of instances of non- compliance. The risk is also greater regarding irregularities occurring due to traud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A furtherdescription of our responsibilities for the audit of the financial statements is located on the Finaneial Reporting Council's website aL www.frc.or -ukJaudilorsres nbilItieS. This description foms part of our auditorfs reporL 12
INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION Use of our report Thls report is made solely to the charity's trustees, as a l)ody, in accordan wth Part 4 of the Charities (Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might slate to the Gharity's trustees those matters we are reqUId to slate to them in an auditols 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 charity and Ihe ¢harity'$ trustees as a body. for our audit worK for this report, or for the opinion$ we have formed. ¢KI LJ¥L IL 15 Westferry Circus Canary Wharf London E14 4HD PKF Llttlelohn LLP ststutory Auditor Dale.. 16 July 2021 PKF Littlejohn LLP is ellgible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006 13
EUROPEAN RENAL ASSOCIATION - CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES EUROPEAN DIALYSIS AND TRANSPLANT YEAR ENDED 31 DECEMBER 2020 ASSOCIATION Group Group Charlty Charlty 2020 2019 2020 2019 Total Total Total Totsl unrestricted unrestricted unre8trlcted unrostricted funds funds funds funds Income from: Donations Donations Gift aid payments from subsidiary Note 79.177 104.515 79,177 999,114 104,515 Raising funds Corporate Spon50r 35,839 35.839 Charitable activities 3.154,928 4.041,935 3,104,657 4,024,521 Other trading activities Trading activity - Exhibition space, industry symposia, sponsorship and other ancillary services Other trading activty- Euromeetings 1,346,862 158,961 3,523,484 580,609 Investments Income from investments Intere51 received 8a 374 374 Other Incom 37,016 {14,3311 10,090 Total 4.776,947 8,272.425 4.193.038 4.165.248 Expenditure on: Raising funds PromolDnal activities other trading activity- Euromeetings Corporate Sponsor 74,340 7,530 142,724 543,689 74.340 131,513 Charitable actSvltle8 Other Awards 3,546.333 7.120,104 3,036,695 4,545,574 10,280 10.280 Totsl 3,628,203 7,816,797 3,111,035 4.687,367 Net galns l (expenditure) before net (losses) I gains on investments 1, 148,744 455.628 1.082,003 1522,1191 Curtency movements on translation Net gains l (losses) on investments 1106,4831 40,755 60.265 213,266 132,1791 40,755 8a 213,266 Net gains I lexpenditure} and net movement in fund$ 1,083,016 729,159 1.090,579 1308.853) Reconclliation of funds.. Total funds brought forward 8,256,657 7,527,498 6.683.873 6.992,726 Totsl fund$ Carried forward 9,339.673 8.256,657 7.774,452 6.683,873 All operations are classed as continuing. The notes on pages 18 10 30 fomi part of these accounts. 14
EUROPEAN RENAL ASSOCIATION - CONSOLIDATED AND ASSOCIATION BALANCE SHEETS EUROPEAN DIALYSIS AND TRANSPLANT YEAR ENDED 31 DECEMBER 2020 ASSOCIATION Group 2020 Group 2019 Charty 2020 Charlty 2019 Notss Flxed a88ets Property, plant and equipment Invesknenls 6,641 23.970 2,709,033 2,668,278 6,641 21,330 2,709,307 2,668,282 3,715,674 2,692,248 2,715,678 2,689,612 Curront Assets Debtors Cash al bank and in hand 698.951 1,128,980 10 7,031,788 5,467,544 416,911 283,504 5,630,979 4,145.073 7,730,739 6,596,524 6,047,890 4,428,577 Llabllltle8 Creditors.. Amounts falling due within one year 11 964,515 916,870 846,891 319.071 Not Current Assgts 6,766,224 5,679,654 5,200,999 4,109,506 Total a88ets1888 curront Ilabllltl08 9,481,898 8,371,902 7,916,677 6,799.118 Creditors.. Amounts falling due after more one year 11 142,225 115,245 142,225 115,245 Net A88ets 9,339,673 8,256,657 7,774,452 6,683,873 Fund8 of the Charlty Unrestricted frjnds 9,339,673 8,256,657 7,774,452 6,683,873 Totsl Charlty Funds 9,339,673 8,256,657 7,774,452 6,683,873 The financial statements were aulhorised and approved for issue by the Council of Management and signed on their behalf Prof. Iva Rythlik jsecrelary-TreasurI j[ 25, 2021 The notes on pages 18 to 30 fomi part of these aCunts. 15
EUROPEAN RENALASSOCIATION- EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2020 Group 2020 Group 2019 Charty 2020 Charity 2019 Notgs Nel cash (used inllfrom operating aclivitres 1.565.410 900,093 1,487,072 978,663 Cash flows from Investing activities.. Interest from investments Dividends from investments (Purchase} of fixed assets Proceeds from sale of investrnents Purchase of investsnents 374 374 (1,1661 15,5911 11,166) 11,6481 11.800,000) {1,800,0001 Cash provided by investing activities 1,564.224 11,805,217) 1,485,906 {1,801,2741 Change in cash and cash equwalents in the year 1,564,244 1905.1241 1,485,906 1822,6111 Cash and cash equivalents brought forward 5,467,544 6,372.668 4,145,073 4,967,684 Total cash and cash equivalents carried forward 3 7,031.788 5.467,544 5.630,979 4,145.073 16
EUROPEAN RENALASSOCIATION- EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2020 1 Reconclliation of nèt movements in funds to net cash flow from operatin9 activitles Group 2020 Group 2019 Charity 2020 Charity 2019 Net movement in funds for the reporting period {as per the statement of financial activities) 1,083,016 729.159 1.090,579 {308.8531 Adjustments for: Nel Igainsl I Ilossesl on investments Charges adjustment on investments Interest re1vable Investment income Ireinvesledl Deprecialh)n Loss on disposal of fixed assets Decrease l {increasel in debtors Increase I Idecreasel in creditors 146,0911 {213.2661 5,337 660 (374} {46,091) 1213.2661 5,337 660 13741 15,855 2,638 430,029 74,626 27,934 15,855 22,339 874,847 (518,8671 1133,407) 1,748.840 554.799 {271,057} Net cash genoratsd from operating activities 1,565,410 900.093 1 N87,072 978.663 2 Reconciliation of net cash flow to movement in net funds Group 2020 Group 2019 CharSty 2020 Charity 2019 Balance al 1 January Net cash loufflowl l inflow Exchange gains I Ilossesl on cash 5,467,544 6,372,668 4,145,073 4,967,684 1,670,727 1965,3891 1,518,085 1822.6111 1106.4831 60.265 132,179) Balance al 31 Dember 7.031,788 5.467,544 5.630,979 4.145,073 3 Analysls of ca8h and cash and cash equlvalents Group 2020 Group 2019 Charlty 2020 Charity 2019 Cash at bank and in hand 7,031,788 5.467,544 5,630,979 4.145,073 17
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 1. Ac¢ounting Pollcles The charity is an unincorporated charity registered in England and Wales and with its principal office and operatlve he&Jquarters disclosed on page 2. The charitys principal objectives are disclosed on page 5. The principal accounting policies, all of which have been applied consistently throughout the year, are set out below. a. Ba818 of preparation The financial statements have been prepared under the historical cost conventn with items recognised at cost or transaction value unless otherwise slated in the relevant accounting policies telow or the notes to these accounts. The financial ststements have been prepared in accordan with the Statement of Recnmmended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republi¢ of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The financial statements consolidate those of the Charity and its wholly owned non-charitable subsidiary trading companies. ERA EurongresS Limited a1 Euromeetings Srl up to the date il was placed into liquidab'on. The financial statements are prepared in Euros which 1$ the functional currency of the charity and to the nearest£. The Charity constitutes a pubfic benefit entity as defined by FRS 102. b. Going concern The finanaal slalements are prepared on the going concern basis. ERA-EDTA has nSo11d2ted reserves of E9.339,673 at 31 DeMter 2020 including net current assets of &,766.224 and cash al bank of f7,031,788. The Trustees have reviewed the financial position of the charity al 31 December 2020 and considered their forecasts in relation lo the potential impact of COVID-19 and rA)nsider the charity is a going concem. The travel bans in place due lo COVID-19 meant that Congresg 2020 which was due to take pla in Milan was switched to a fvlly virtual Congress. Staff are able to work remotely and records and systems needed lo ensure the business continues are in pla. Congress 2021 is planned to go ahead in Berlin but In a hybrid version allowing ERA-EDTA to switch lo a fully virtual congress if needed. The same will be also valid for the Congress 2022 in Paris and the Congress 2023 in Milan (which was moved from 20201. Whilst there is expe lo be an impact on subscriptions and memberships. this is not anb'cipated to be signifieanl based on current assessments. Management and the Trustees are regularly revpwing the finanaal impact of the COVID-19 pandemic and taking appropriate actions to mitlgate the risks arising. to ensure the business can continue lo grow and thrive. ¢. Fund structure Unrestricted fvnds are general funds that are available for use at the Councll of Management's discretion in furtherance of any objeclNes of the charity. 18
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 1. A¢¢ounting Policies (continued) d. Income recognitlon All income is recognised in the period in which the charity is entitled to receipt, the amount can be measured with reasonable certainty and it is probable that the income will be received, and specifically as follows.. il Income from trading activities is income receivable by the subsidiary company on selling exhibition space, industry symposia, sponsorships and other ancillary Se1$ in connection with those congresses held by the Assoaalion or with other events organised by the subsidiary company. Turnover is stated after trade discount9, exclusive of VAT and other sales taxes. ill Investsnent income includes income from investsnents and bank interest and is recognised in the year in which il is receivable. iiil Membership fee income is Tecognised in the year to which fees relate. iv) Congress proceeds are recognised in the year that the congress was held. vl Donations from the Association's subsidiary undertaking are recognised on a recelvable basis and third party grants and donations are recognised in the year In which they are due. vi) Nephrology Dialysis Transplantation (NDT) and Clinical Kidney Joumal Ickjl. The Association utilises the seNices of Oxford University PsS lo print and to distribute Nephrology Dialysis Transplantation {NDTI and to publish the online joumal Clinical Kidney Joumal. Each year Oxford University Press prepares audited financial statements of their activities and the results and the nel result is either rnItted to the Association or invoiced to the Association. This year the Journal has made a profit. The net financial effects of these aclivits.es are disdosed as an incoming resour of the Association and is recognised in the year that the Journal relates. e. Expenditure recognition Liabilities are recognised as expenditure as soon as there 1$ a legal or ¢on5tNctive obligation committing the charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expendilure is accounted for on an accruals basis. All expenses including support costs and governan costs are allocated or apportioned to the applicable expenditure headings. i) Raising fvnds are those costs attributable lo generating incoming reSoUrS for the charity, other than those costs incurred in undertaking charitable activities or the costs incurred in undertaking trading activities in fvrtheran of Ihe charity'$ objects. ill Charitable activities comprise all costs incurred in the pursuit of the charitable objects of the charity, These costs, where not wholly attributable are apportioned beeen the categories of charitable expenditure in addition lo the direct costs. The total cost of each Galegory of charitable expenditure therefore includes support costs and an apportionment of overheadg. Grants payable are accrued insofar that the beneficiary has an expectation of receiving a grant as at the balance sheet dale, but only if such grant is unconditional. Where the charity retain$ its discretion over grants lo be made, and the grants are conditional on the beneficiary satisfying certain requirements, then such grants are not accrued. iii) SupFX)rt and govemance costs and allo(2tion Support costs have been allocated to direct charitable expènditure based on proportion ofdirecl costs. Governance costs comprise all cos15 involving the public accountability of the charity and its Complian with regulation and good practice. These costs include costs related lo statutory audit and legal fees together with an apportionment of overhead and Support costs. 19
EUROPEAN RENAL ASSOCIATION- EUROPEAN DL4LYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 1. Accounting Policieg Icontinuedl Property, plant and equlpmenl Property. plant and equipment costing more than É500 is capitalised and valued at its historlcal cost. Depreciation is charged over useful economic lives as follows.. Software- 330h on cost perannum. Office equipment- 330A on cost Fer annum Electronic equipment_ 330h on cost per annum Where the recoverable amount of an asset is found to below its net book value, the asset is written down to its recoverable amount and the loss on impairment 15 charged to the relevant expenditure category of the statement of financial activities. Where an asset is not primarily used to generate income, its impairment is assessed by reference to its Servi potential on ils inib'al acquisition. In the year the charity currently has no tangible fixed assets to which impairment provisions apply. g. Fixed asset Investments Investments are a fomi of basic financial instrument and are initially recognised al their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market PTice. The statement of financial activities includes the nel gains and losses afising on revaluat¢on and disposals throughout the year. The Charity does not acquire put options, derivatives or other complex financral instruments. The main form of financial risk fad by the charity is that of volablily in equity markets and investment markets due lo wider economic ¢ondilions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. h. Reallsed galns and losseg Realised gains and losses on investments are calculated as the difference beiween sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the stalen%nt of financial acb"vities in the year of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value al the year end. Foreign currencies Transaction5 in foreign currencies are translated at an average rate Ca1lated for the year. Monetary assets and liabilities in foreign currencies are translated al the rates of exchange ruling at the Balance Sheet date. AIS tsther exchange differences are dealt with through the Statement of Financial Activities. Taxation The Association is registered as a charity under the Charities Act 2011 and it is not liable to UK tax on its income and ehargeable gains, as they fall within the varicws exemptions available to registered charities. Following the triennial review of FRS 102 applicable for accounting periods commencing on or after 1 January 2019, there must be a legal obligation in Pla in order for a donation of profit from subsidiary lo parent lo be regnised in the financial statements. There was no legal obligation in place at 31 December 2020 and so the donation of the subsidiary company's profit lo ERA-EDTA has correctly not been recognised within these financial statements. Were the post year end payment of the profit for the previous financial year is deemed probable, this is taken into account within the tax computation of the subsKliary company. 20
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 1. A¢¢ounting Policies Icontinuedl k. Critical judgemgnts and gstimates In preparing the financial slalements Trustees make estimates and assumplons which affect reported results, financial position and disclosure of contingencies. While the assumptions are believed to be reasonable under current Circumstan actual results could differ from such estimates. The main areas ofjudgemenl that coijld give rise lo a significant adjustment are.. il Income recognition in respect of the deferral of income ill Accruals and ¢omrnitrnenls in respect of grants payable iiil The allocats.on of expenditure beeen reportab categories 21
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 2 Incomè- Donatk*ns Group 2020 Group 2019 Charity 2020 ChaTity 2019 Working Groups Other 79,177 61,549 42,966 79,177 61,549 42.966 79,177 104,515 79,177 104,515 3 Income- Charltable actlvltles Group 2020 Group 2019 Charlty 2020 Charity 2019 Congress Proceeds.. Direct - Congress Membership Fees Ancilliary - Grants receThied Donations for"Run for Kidneys" pr(4t Membership Journals and Editork81 Offices ENP Grants received 1,516.209 101,200 2,682.390 210,923 1.516.209 2,682,390 101,200 210,923 428,003 1,059,245 358.708 772.500 17,414 428,003 1.059,245 358,708 772.500 50,271 3,154,928 4,041,935 3. 104,657 4.024,521 4 Expendbture- Support Costs Group 2020 Group 2019 Charlty 2020 Charlty 2019 Officers. Expenses ERA-EDTA HQ and staff management Professional Fees Council Meeting$ Administration Management Council Regulations & Constitution Miscellaneous Bank Charges & Other Commission Bad Debts 128,200 129,955 462,078 32.147 157,016 7,455 24 48,175 8,140 50.068 425,012 459.402 81,077 50.023 6.455 53,157 71.927 23.173 105,630 101,676 379,645 32,147 119,769 7,455 25,237 85.901 163,431 69,607 39.8D5 6.455 997 22,310 46,618 973.190 1.197.121 792.940 413,743 22
EUROPEAN RENAL ASSOCIATION- EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 4 Charitablo Expenditure- Group Dlrect cost Support cost 2020 Total 2020 Total 2019 2020 Congresses and other trading Membership Education Guidelines Journals and Editorial Offi$ Registry ENP Websites, Publicat#)ns & Comms Fellowships Research Working Groups ComlA YNP Relations with Societies and Inslilulions European Kidney Health Alliance Participation in Committees 1,502,150 568,129 2,070,279 5.053,058 7,404 12,941 164,745 151,902 888,735 346 354,036 172,137 18,266 177.652 34 4.068 38.225 50,356 26,201 82.345 31,144 113.489 940,828 355.831 1,269,659 47,820 18,086 65.906 2,573,143 973.190 3.546,333 7,120,104 Charltable EXPendire- Charity Direct cost Support cost 2020 Totsl 2020 Total 2019 2020 Congresses and other trading Membership Education Guidelines Journals and Editorial Offi$ Registry ENP Websites, Publicab"ons & Comms Fellowships Research Working Groups ComlA YNP Relations with Societies and Inslilulions European Kidney Health Alliance Participation in Committees 1,172,762 414,453 1,587,215 2,911.479 6,775 11,843 150,769 139,015 813,341 317 66,404 157,534 16,717 162,582 31 3,723 34,982 46,084 23,979 82,345 29,101 111,446 940,828 332,487 1,273,315 47,819 16,900 64,719 2,243,754 792,941 3,036.695 4,545,574 23
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 5 Staff Costs Group 2020 Group 2019 Wages and salaries Social security costs 661,164 463,425 813,682 533,828 1.124,589 1,347.510 The average number of employees during the year was 12 12019.. 15) with all employee time involved in providing either support lo the direct operations of the charity or support services lo its governan and charitable activities. The number of employees whose total employee benefits exceeded 0,000 for the year ended 31 December 2020 and fell within the following band was.. 2020 2019 70,001-É80,000 80,001-É90,000 90,001- É100,0110 100,001 - É110,000 150,001 - É160,000 ERA EDTA considers its key rnanagement personnel comprise three from the ex-officio members (President, Secretary-Treasurer. Renal Science Chair (Chair ofAdminislrative Offices}} detailed on page 1. No key management personnel reiVed any remuneration for their services. No Trustees were remunerated by the charity12019: ÉNill. During the year ended 31 Dernber 2020 sums totalling é7.500 were paid to 10 {2019'. É127,955 paid to 171 Council members in relation to the reimbursement of travel and Subsisten expenses. 6 Auditors. Remuneration Group 2020 Group 2019 Fee$ payable to the Company's auditor and its associates for the audit for the Group's annual financial statements {including subsidiary companies) Fees payable to the Company's audltor and its associatgs in respect of: Taxation compliance ServIS All other setvices 4,000 3,800 24
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 7 Tangible Assets - Group Computer SOfare Furnlture Electronic & Flttlngs Equipment Totsl Cost At 1 January 2020 Additions Disposals 1,648 24,842 145,642 172.132 1,166 1.166 116,9861 123,459) 16,4731 At31 Dember 2020 1,648 18,369 129,822 149.839 Depreclatlon At1 January 2020 char in year Disposals 275 549 20,332 4,000 15,9721 127.555 148,612 11.306 15,855 114.847} {20,819) At 31 Dember 2020 824 18,360 124,014 143,198 Net Book Value 31 December 2020 824 5,808 6,641 31 December 2019 1.373 4,510 18.087 23,970 Tangible A88ets- Charfty Computer SofIare Furniture Electronlc & Fittingg Equipment Total Cog1 At 1 January 2020 Additions Disposals 1,648 18,369 128,657 1,166 148.675 1,166 At 31 December 2020 1.648 18,369 129,823 149,841 Depreclatlon At 1 January 2020 Charge in year Disposals 275 549 14,380 4,000 112,709 11,306 127,345 15,855 At 31 December 2020 824 18,360 124,015 143,200 Net Book Value 31 December2020 824 5.808 6,641 31 DeMber2O1g 1,373 4,009 15.948 21,330 25
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 8 Investments - Charity & Group 2020 2019 Group - Listed non-UK investments on recognised stock exchanges Inole 8a) 2,709.033 2,668.278 Investment in Subsidiaries Charity 2019 2,709,037 2,668,282 Subsidiary Undertakings ERA Eurocongress Limited is a company registered in England and Wales under the company number 03431245 and is wholly owned by the Charity. The company prepares financial stslemenls lo 31 Dember and has reported the following.. 2020 2019 Net assets Tumover Expenditure Profit 1.540,144 1,546,613 1.561,521 3,552,794 11,485,344) 12,528,254) 76,177 1,024,541 Euromeelings Srl is a company registered in Italy. 100Qh of the issued shares of this company were gifted to Era Eurocongress Lim11ed on 4th April 2016 and from this date the results and net assets of the company have been consolidated into the group financial stalemenl$ At the date of gift the net as*ts of Euromeetings Srl amounted to É101,011. The Company, that was put in liquidation at 4 September 2020, prepares financial statements lo 31 December and the following is a summary." 2020 2019 Net assets Tumover Expenditure (Lossl I Profit 91,351 318,847 214,309 940,946 1441,8041 {884,0871 1227.4951 56.859 26
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EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STA TEMENTS YEAR ENDED 31 DECEMBER 2020 g Debtor8 Group 2020 Group 2019 Charlty 2020 Charlty 2019 Amounts due from subsKliary undertaking Trade debtors Future Congress expenses paid in advance Membership fees receivab Other debtors VAT 16,934 586,054 7,576 86,902 21,485 566,626 403,814 7.576 129.082 21.882 322,534 7,576 86,801 228,364 7,576 47,564 698,951 1,128,980 416.911 283,504 10 Cash at bank and in hand Group 2020 Group 2019 Charty 2020 Charty 2019 Bank accounts Petty cash accounts 7,029,345 5,457,441 2,443 10.103 5,628,759 4,142,550 2,220 2.523 7,031,788 5,467,544 5.630,979 4,145,073 11 Creditors: Amounts falling due wlthln one year Group 2020 Group 2019 Charlty 2020 Charlty 2019 Other creditors Accruals and deferred income Amounts due to subsidiary undertaking 123.658 840,857 358,754 558,115 37,550 796,644 12,697 40 306,059 12,697 964,515 916,870 846.891 319.071 Creditors: Amounts falling due after more than one year Deferred salary 142.225 115,245 142,225 115,245 28
EUROPEAN RENAL ASSOCIATION- EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 Deferred Income Group 2020 Group 2019 Charty 2020 Charlty 2019 At 1 January Resources deferred in the year Amount received from previous year 103,759 116,378 103.759 116,378 77,218 103,759 77.218 103,759 1103,759} 1116,378) (103,7591 1116,378) At 31 December 77,218 103.759 77.218 103.759 Deferred income mainly relates to membership income received in advan of the following year along with Congress and grant income received in advance of the following year. 12 Net Assets 2020 Reserve Fund 2019 ReseThe Fund Ggngral Fund Goneral Fund Total Total Fixed Assgts Property, plant and 8quipmenl Investments 6,641 6,641 2.709,033 2,709,033 23,970 23.970 2.668,278 2,668,278 6,641 2,709,033 2.715,674 23,970 2.668,278 2,692,248 Net current assets 6.766.224 6,766,224 5,679,654 5,679,654 Creditors due after rr¥)re than a year 1142,225) (142,225) {115,2451 1115,2451 Total 6,630,640 2,709,033 9,339,673 5,588,379 2,668,278 8.256.657 In accordance with the Council of Management Report the 'ReseNe Fund. which comprises the total market value of the investments at the year together with cash fund$ held in those investments tolalled 2,709,03312019: Q,668.2781 which 18 below the'Reserve Fund Maximum Amount of &,000,000. 13 Gifts The AssocIatn receives servres for which no costs are charged. No monetary amounts have been included within the financial slalemenls as it is difficult to quantify these benefits and in the opinion of the Members of the Council, these benefits are not material to the accounts. 29
EUROPEAN RENAL ASSOCIATION - EUROPEAN DIALYSIS AND TRANSPLANT ASSOCIATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 14 Related Parties As al 31 December 2020 the Association was owed É12.697 12019.. É12,697} from its subsidiary mpany ERA Eurocongress Limited which indudes ÉO 12019= ÉOI as a gift aid payment. The balance dIfferenS are due to feIgn exchange. 15 Contlngent Liabilities As noted in the Report of the Council of Management, the Association has indicated its intention to support research Fyojecls into the future through the payments of grants. These grants are conditional on the cash flows of the Association and if satisfactory progress of the research projects. Al the year end the Association had indicated its intention to pay grants tolalling É61,05912019'. É372.1141 in the lure. 16 Operating Leases The group had the following future minimum lease payments under non-cancellable operating leases for each of the reporting periods-. 2020 2019 Payments due Not later than one year Later than one year bul not later than five years 16,392 77,800 26,352 59,292 94.192 85,644 30