EUROPEAN RENAL ASSOCIATION
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023

EUROPEAN RENAL ASSOCIATION-
CONTENTS
Page
Reference and Admlnlstrative Details
Report of the Council of Management
3-10
Report of the Auditors
Consolldated and Assoclatlon Statement of Flnanclal Activities
15
Consolidated and Assoclatlon Balance Sheets
16
Consolldated and Assoclatlon Statement of Cash Flows
17-18
Statement of Accountlng Pollcles
19-22
Notes to the Financlal Statements
23-32

EUROPEAN RENAL ASSOCIATION-
REFERENCE AND ADMINISTRATIVE DETAILS
Status
The following report and financial statements describe the combined affairs of the Association and its
subsidiary company consolidated together as a charitable group. A report and financial statements for the
subsidiary company is available separately.
Council of Management (all were in office at 31 December 2023)
a) Four ex-officio members. namely
Prof. Christoph Wanner (President)
Prof. Ivan Rychlik (Secretary-Treasurer}
Prof. Danilo Fliser (Renal scien￿ Chair)
Prof. Alberto Ortiz (Clinical Nephrology Governance Chair)
b) Nine ordinary members, namely:
Prof. Ana Carina Costa Ferreira (term started June 17. 2023)
Prof. Pieter Evenepoel
Prof. Giovanni Gambaro
Prof. Giuseppe Grandaliano (term started June 17, 2023)
Prof. Albert Ong
Prof. Alexander Rosenkranz
Prof. Pantelis Sarafidis
Prof. Roser Torra
Prof. Serhan Z. Tuglular
Executlve Dlrector Monica Fontana
Independent Auditor
PKF Littlejohn LLP
15 Westferry Circus
Canary Wharf
London E14 4HD
United Kingdom
Registered Charity Number
1060134

EUROPEAN RENAL ASSOCIATION -
REFERENCE AND ADMINISTRATIVE DETAILS
Main Bankers & Investment Advisors
HSBC UK Bank PIC
69, Pall Mall
St James
London SW1Y SEY
United Kingdom
UBS AG
45, Bahnhotstrasse
CH-8098 Zurich
Switzerland
Azimut Capital Management
4. Via Cusani
20121 Milano
Italy
Credit Agricole Cariparma
Piazzale Barbieri 291A
43125 Pa￿a
Italy
Reglstered Offlce
15 Wesffery Circus, Canary Wharf
London E14 4HD
United Kingdom
Operatlve Headquarters
Strada dei Mercati, 161A
43126 Parma
Italy
Sollcltors
Russell-cooke
2 Putney Hill
London SW15 6AB
United Kingdom

EUROPEAN RENALASsOc￿T10N-
REPORT OF THE COUNCIL OF MANAGEMENT
The members of the Council have pleasure in presenting their report, together with the audited financial
statements for the year ended 31 De￿mber 2023.
structure, Governance and Management
European Renal Association is an unincorporated association which was registered with the Charity
Commissioners on the 14 January 1997 under number 1060134. The General Assembly, on 7 June 2021,
decided to change the name of the Charity from European Renal Association - European Dialysis and
Transplant Association (ERA-EDTA) to European Renal Association (ERA), receiving formal approval by
the Charity Commission for this change.
The governing instrument is the Charivs Constitution, which was last revised and approved on 7 June
2021. The administration of the Association as determined by the Constitution is carried out by:
The General Assembly
The Council
b)
The President of the Association
d)
The Secretary-Treasurer
The Renal Science Chair
Election of Council Members
Ordinary members of the Council are elected by the General Assembly. The candidates must be fvll
members and supported by two other full members. The term of the ordinary council members is three
years. An ordinary member at the expiry of hislher period of office will be ineligible for re-election as an
ordinary member of the Council for a period of three years. There are nine 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 full members and also be supported by other full
members, furthermore the candidates must have at least five years seniority in the Association. There are
four ex-officio members:
1) The President of the Association is appointed for a period 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.
2) The Secretary-Treasurer is appointed for a period of three years and may be r&elected for a further
period not exceeding three years.
3) The Renal Science Chair is appointed for three years and may be re-elected for a further period not
exceeding three years.
4) The Clinical Nephrology Govemance Chair is appointed for three years and may be re-elected for a
further period not ex￿edIng three years.

EUROPEAN RENALASSOCIATION-
REPORT OF THE COUNCIL OF MANAGEMENT
Structure, Governance and Management (continued)
The minimum number of Council members is 7, the maximum 13,. there cannot be more than two people on
the Council 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. Associate 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.
Induction and Training of Council Members
All newly elected Council members receive a copy of the Constitution and Rules as well as a formal
presentation regarding the duties and the legal obligations as trustees with further links of relevant materials
all of which they are asked to read carefully. Finally, they must sign an official declaration that confimis that
they are suitable, according to the law. to act as Council members (being Trustees).
Council of Management's Aims, Objectives and Responsibilities
The Council meets on average twice a month (virtual Council meetings) and four times a year (in person),
plus there are other informal meetings as required. The virtual meetings started during the Covid-19
pandemic but have been instrumental to make sure that all decisions related to the many Charity activities
are closely followed thus this initiative continues.
The Council is the executive body of the Association and in furtherance of the objects of the Association the
Council may execute powers to:
Raise funds
b)
Buy, take on, lease or exchange any propety
Subject to consent, sell, lease or dispose of all or any part of the propety of the Association
Subject to consent. borrow and charge all or any part of the property of the Association
Employ and dismiss staff
Co-operate with other charrties
Support any charitable trusts
Incorporate a subsidiary company
Do all such other lawful things to achieve the objectives of the Association
d)
g)
h)

EUROPEAN RENALASSOCIATION-
REPORT OF THE COUNCIL OF MANAGEMENT
Council of Management's Aims, Objectives and Responsibilities (continued)
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the Charity and of its financial acts'vits'es ft)r that period. In preparing those
financial statements, the Trustees are required to:
Select suitable accounting policies and then apply them consistently
Make judgements and estimates that are reasonable and prudent
State whether the policies adopted are in accordance with the Statement of Recommended Practi￿ for
Charities, and with applicable accounting standards. subject to any material departures disclosed and
explained in the financial statements
Prepare the financial statements on the going con￿rn basis. unless it is inappropriate to assume that
the Charity will continue in business
b)
d)
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the Charity and to enable them to ensure that the financial statements comply
with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of
the Constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable
steps for the prevention and detects'on of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information included
on the charity's website in accordance with legislation in the United Kingdom governing the preparation and
dissemination of financial statements.
Decision making and the relationship between offices
Overall, it is the General Assembly that is the supreme authority of the Association. The General Assembly can
be ordinary and would be held at the time and place of the annual congress, or the General Assembly can be
extraordinary, and summoned in special circUmstan￿s. The Council however is the executive body of the
Association and acts on its 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 Council.
Foreign Currencies
The activities of the Association are transacted in various foreign currencies, the primary currency being Euros.
The financial statements of the Association are therefore translated into Euros where appropriate.
Subsidiary Trading Companies
The Association 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 exhibition space, industry symposia,
advertising and other seplices to companies mainly in conjunction with congresses arranged by the Association.
Objectives & Activities
The main purpose of the Association is the advan￿ment 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 benefft of the patients and thus the public. The Association achieves its
objectives by publishing medical joumals (Nephrology Dialysis Transplantation and Clinical Kidney Journal, both
published by Oxford Univ. Press), holding annual congresses, producing epidemiological data for research in the
field of interest of the Association through the ERA Registy. organising continuing medical educational courses,
supporting fellowships and grants for young professionals, supporting scientific research for important scientific
clinical trials that could bring exireme benefit to nephrology patients, but also supporting 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 clinical practice through its specific committee ERBP
(European Renal Best Practice), disseminating educational material through its congresses and e-seminars
(webinars) and co-operating with other scientific medical organisations to reach the objectives outlined above.

EUROPEAN RENALASSOCIATION-
REPORT OFTHE COUNCIL OF MANAGEMENT
Objectives & Activities (continued)
At the beginning of 2023 the new National Society Membership Project became a reality: 31 National Societies
joined the project allowing EFIA to reach over 20.000 members in 2023. The project is so successful that the
number of EU countries joining is growing and ERA is also re￿Iving requests from outside of Europe (South
America. India, etc.)-
In March 2023, under the umbrella of EKHA (European Kidney Health Allian￿). of which ERA is a founding
member, a special "Show your kidneys love. campaign featuring Tina Turner was launched with the aim of
creating a very much needed awareness on kidney disease among the general public, in particular for
prevention purposes.
In 2023 ERA celebrated its 60th anniversary and the Congress in Milan (Italy) was an excellent opportunity to
celebrate this important date. The Congress was a great success and a similar number of delegates decided to
participate, a number as we had pre-covid 19: we had over 9,400 participants <8,000 in person and 1,400
virtually connected). The networking component was even more enhanced by a number of new initiatives that
were very much appreciated by our members.
For the first time during our annual Congress, we organised "Learn by practi￿. sessions offering a wide range
of very practical tips for the younger generation of specialists (i.e. how to prepare a medical presentation, how
to manage family and career, how to set up a clinical trial, etc.). This novelty was very much appreciated, and it
will be featured also in the future.
The launch of the ERA Neph-manual (an educational online manual which is an ERA membership benefit) was
done during the annual Congress.
At the General Assembly, at the annual Congress, the first women President was nominated as President Elect..
Prof. Roser Torra (Barcelona, Spain) will officially take office at the time of the 2024 General Assembly.
The important EU Funded project, N-Path, which focuses on training in interventional nephrology presented its
final outcome during the ERA annual Congress.
Sustainability is extremely important. ERA has launched a campaign to make sure that this is taken very
seriously in all its activities, annual Congress included. An important article was recently published specifically
taking into consideration the 2023 ERA Congress: htt s'.Ildoi.or
110.10931ck'lsfae062
Last, but not least, during the Congress ERA gave a complimentary congress membership to all Turkish and
Ukrainian nephrologists- this decision was taken by the ERA Council following the catastrophic earthquake in
Turkey as well as the horrific ongoing conflict in Ukraine, thus allowing all our members living and working in
these countries to fully attend the Congress (which is hybrid).
2023 was also the year in which the restructuring of the ERA Headquarters in Pamia was finalized. Since then
the office hosted a number of very SUC￿ssful full day board meekn'ngs of all ERA bodies, including the ERA
Council, thus making full use of the new structure which has been called the "ERA Headquarters and
Educational Hub..
The Ukrainian Renal Disaster Relief Task Force (RDRTF), which was created at the beginning of 2022, was
transformed into a permanent task force with a new name (Kidney Relief in Disasters). This task force will focus
on all disasters (man-made and natural) and also provide education on preparedness, in particular with the
National Societies of Nephrology. In 2023 this task force supported members and thus also patients in the
Earthquake in Turkey (612123). the civil war in Sudan (with ASN - American Society of Nephrology and ISN -
International Society of Nephrology a joint statement in support to the population subject to any type of disaster
was issued - 1915123), the floods in Morocco and, finally. the ongoing Gaza-lsrael conflict.
Furthermore, on this very important topic, at the end of De￿mber 2023 at a leadership meeting with ASN and
ISN, it was decided to join forces in this area to synergize the three Soc. efforts in this very important area and
a very strong declaration against all man-made disasters was issued at the end of the year.

EUROPEAN RENALASSOCIATION-
REPORT OF THE COUNCIL OF MANAGEMENT
Networking and collaboration with other Societies is key for ERA and in 2023 ERA collaborated with patient
associab'ons (EKPF - European Kidney Patient Federation and PKD International Polycystic Kidney Disease
International) to create patient section on the ERA website, fvrthemiore, another outcome of the collaboration
with EKPF was an important document in Chinese to create awareness on kidney disease among the Chinese
communities present in Europe.
CKJ'S (Clinical Kidney Journal) Editor in Chief was nominated in 2023, Prof. J. Floege (Germany) and he will
officially take office during the General Assembly in 2024.
Two new task forces were estsblished in 2023: Sustainable Nephrology and Strong Kidneys, the first one will
focus on green practices in the field of nephrology and sustainability issues in all ERA'S activities, the second
one instead will focus more on public health issues and awareness campaigns.
A call for another task force was done in 2023 (the task for￿ will be created in 2024) called WERA = Women
in ERA. One of the objectives of this task force will be to make sure that all ERA activities reach gender balance.
as well as promote educational acb'vities in this field.
Public affairs is also a field that is becoming more and more relevant, for this purpose the ERA Council decided
to recruit an independent consultant in PA based in Brussels, his activities will allow ERA to be even more
effective in its contribution as a member both to EKHA as well as the Biomedical Alliance in Europe.
The ECC (Electronic Communication Committee) in the Fall of 2023 launched ERA'S official Podcast series
which has been extremely successful. It not only allows some of our KOIS to give their expert knowledge on
clinical cases and research topics, but it especially gives insight into their private lives (i.e. why did you become
a nephrologist?) which has been very much appreciated by our members.
For a full and detailed outline of the various activities of the Association performed in 2023 please go to our
web-site (wwN.era-online.org) to view the "2023 Annual Report..
We have referred to the guidance contained in the Charity Commissions, general guidance on public benefit
when reviewing our aims and objectives and in planning our future activities.
Financial Review
The net movement in group funds as shown by the Statement of Financial Activities on page 15 shows a surplus
of É2,558,931 (2022.. E1,722,909 as restated).
The Group's principal funding SoUr￿S 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. It is from these incoming resources that the Group is able to achieve and continue to support its
main objectives.
Investment Policy & Perfomiance
The day-to-day management of the Association's investment funds are delegated to professional investment
managers. The Council of Management's Investment policy is to preseniethe capital to furthertheAssociation's
educational and scientific activities investing a part of it in low I medium risk investments.
The Association's views concerning investments are that any financial investment made should not cause a
conflict of interest in the ethical or scients'fic aims of the Association.
Assets are managed by Azimut Capital Management.
Movements on investments for the year are disclosed at note 9 to the financial statements.

EUROPEAN RENALASSOCIATION-
REPORT OF THE COUNCIL OF MANAGEMENT
Reserves Policy
The Council of Management's policy on reserves is to accumulate surplus funds sufficient to sustain all the
activities of the Association for at least a year in the event of some natural or political catastrophe resulting in
the cancellation of the annual congress and therefore the loss of the majorsource of income forthe Association.
The reserves target is the annual turnover of at least two years of activities and at the year end the group held
accumulated unrestricted fvnds of É15,375,185 (2022: É12,816.254 as restated). The current level of reserves
are in linewith the target reserves of c.É10.5m. which would be at least two years of turnover.
The charity holds a 'Reserve Fund. within its reserves which comprises the total market value of investments
held at 31 December 2023 of E3,292,219, (2022: É3.060,090) together with cash funds of ÉNil, (2022 ÉNil).
Fundraising Policy
We are not currently engaging in any fundraising acts"vity, as such no complaints have been received either in
the current or the prior year.
Key management personnel remuneration
The trustees are deemed to be the key management personnel of the charity and are not remunerated for their
services to ERA.
Rlsk Management Policy
The Council of Management has examined the principal areas of theAssociation's activities and considered the
major risks faced in each of these areas. In the opinion of the Council of Management the Association has
reviewed systems which under normal circumStan￿S should allow these risks to be mitigated to an acceptable
level in its day-to-day operations.
The Council of Management has identified a number of risks and as a Consequen￿ has introduced the following
Risk Management Policy..
Congresses
a) Reductlon 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 and
ERA-Eurocongress Ltd. have the power to negotiate the variable costs in order to reduce considerably the
eventual penalty fees. Since 2020 ERA has invested in virtual IT applications and programmes that allow active
participation by congress attendants also remotely in a virtual matter thus limiting substantially the problem of
having a reduction in attendance. Furthemiore. ERA does not have a different congress membership fee for
in person I virtual attendees.
b) Congress Cancellation
Pandemic situations, acts of terrorism or political instability may result in the cancellation 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 can￿1 the annual congress for such reasons. As payments are
made over a long period of time and as political instability is difficult to predict. In case of cancellation
agreements with the major suppliers have been put in place to use any eventual down-payment for a future
annual congress thus avoiding any kind of penalty fee.

EUROPEAN RENAL ASSOCIATION -
REPORT OFTHE COUNCIL OF MANAGEMENT
c) Personal Safety
Contracts with congress centres and commercial exhibitors who construct exhibition stands or sub-contract
such work to be undertaken must provide evidence 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 has
a specific insurance to cover any liability against third parties.
Employees
a) Staff employed by the Association are issued with appropriate contracts which meet all legal requirements
of the countries where such staff are employed.
b) Obligatory Insuran￿ is included in contracts in all the countries where EFIA 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 instructed not to invest in high-risk funds and additionally are required to regularly
review the investment portfolio and provide a written report to the Council of the Association.
Records of the Association
a) Electronic Files
Files held electronically are copied on a regular basis, such that infomiation is held in at least bNO separate
places.
b) Paper Files
Important paper files are held in the administration offi￿S of the Association.
c) Confidentiality
Electronic data held by the Association is not disclosed to third parties without the permission of the Member
providing the data. All staff undergoes regular courses regarding confidentiality and strictly complies with the
EU GDPR rules. Furthermore, all Council members and members of the various ERA bodies sign a
confidentiality agreement regarding topics discussed during their meets'ngs, the same is also valid for the staff
that attends the meetings.
d) Virus and firewall Protection
All computers used by the Association are checked at intervals with the most up to date firewall and anti-
virus Sof￿are.

EUROPEAN RENALASSOCIATION-
REPORT OF THE COUNCIL OF MANAGEMENT
Future plans and activiti88
During the winter Councll m8eling a full half day was devoted to a strategic workshop aimed at Identifylng new
projects in Ilne with the strategic goals of ERA.
Below are the projects idenlified..
Educational meetings organiz8d in collaboration with the Nattonal Societies of Nephrology focuslng
on training the younger generation of nephrologists in lopics that are needed in the region. ERA aims
to start these meetings in 2025 with a pilot program of ￿0, the full programme will be ofthree each
year to ￿ held in areas of Europe in which our annual congress, due to Its size, never takes place.
One very scientiftcally relevant meeting lo be held once a year with the alm of producing a
declaratlonlwhite paper. This type of meeting will be focused on novelties in the leld of nephrology,
bringing top experts in th8 fi81d to create importanl statements about such topics.
Invest more funds in our Gurrent fellowship program. in particular the short-lerm ones including
interventional nephrology. Th1$ last type of activity is the result of a very important EU funded project
{N-Pathl in which ERA was a partner.
Investing more funds in the producllon of guidan￿ In the field of nephrology, al80 collaboratlng WFth
other medical societies when appropriate.
One of the main ERA membership benefits is the ne￿OrkIng opportunits'ès among colleagues and
peers. An exchange programme be￿een peers to leam best practices In various European centers
will be a new program that ERA will 8(y)n be lau1￿hing.
b)
d)
By Order of the Councll
..ISecretary-Treasurer)
Dale
fl, z( 2031
10

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EUROPEAN RENAL ASSOCIATION
Oplnion
We have audited the financial statements of European Renal Association (the 'parent charity,) and its
subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated and Parent
Charity Statements of Financial Activities, the Consolidated and Parent Charity Balance Sheets, the
Consolidated and Parent Charity Cash Flow Statements and notes to the financial statements. including
significant accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally A¢￿pted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the group's and of the parent charity's affairs as at 31 December
2023 and of the group's incoming resources and application of reSoUr￿s. including its income and
expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice. and
have been prepared in accordance with the Charities Act 2011.
Basls for oplnlon
We conducted our audit in accordance with International Standards on Audits"ng (UK) (ISAS (UK)) and applicable
law. Our responsibilities underthose standards are fijrther 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 to our audit of the financial statements in the UK,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit eviden￿ we have obtained is sufficient and appropriate to provide
a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, which includes the review of budgets and forecasts along with
challenging the adequacy of the reserves policy, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the group's or parent charity's
ability to continue as a going concern for a period of at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the
relevant sections of this report.
Other Inforniatlon
The other information comprises the infomation included in the Report of the Council of Management, other
than the financial statements and our auditorfs report thereon. The trustees are responsible for the other
information contained within the Report of the 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 form of assurance
conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the
other information is materially inconsistentwith the financial statements or our knowledge obtained in the course
of the audit, or otherwise

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EUROPEAN RENAL ASSOCIATION
Other information (continued)
appears to be materially misststed. If we identify such material inconsistencies or apparent material
misstatements. we are required to detemine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed. we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters 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 Charities (Accounts and
Reports) Regulations 2008 require us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any material respect with the trustees,
report., or
sufficient accounting records have not been kept., or
the parent charity financial statements are not in agreement with the accounting records. or
we have not received all the infomiation and explanations we require for our audit., or
Responsibilitles of trustees
As explained more fully in the trustees. responsibilities ststement, the trustees are responsible for the
preparation of the group and parent charity financial statements and for being satisfied that they give a true and
fair view, and for such intemal control as the trustees determine is ne￿SSary to enable the preparation of
financial statements that are free from material misstatement, whether due to 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 concern, disclosing, as applicable, matters related
to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate
the group or the parent charity or to cease operations, or have no realistic alternative but to do so.
Auditor's responslbllltles for the audit of the financial ststements
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 free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to Influen￿ the economic decisions of users taken on the basis of these financial statements.
12

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EUROPEAN RENAL ASSOCIATION
Auditor's responsibilities for the audit of the financial statements (continued)
Irregularities, including fraud, are instances of non-complian￿ with laws and regulations. We design procedures
in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities,
including fraud. The extent to which our prO￿dureS 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 to have a direct effect on the financial statements. We
obtained our understanding in this regard through discussions with management, sector research and
application of cumulative audit knowledge and experience of the sector.
We determined the principal laws and regulations relevant to the group and parent charity in this regard to be
those arising from the Charities Act 2011, Charities SORP 2019. Financial Reporting Standard 102 and UK
employment law.
We designed our audit procedures to ensure the audit team considered whether the￿ were any indications of
non-compliance by the charity with those laws and regulations. These procedures included, but were not limited
to enquiries of management, review of minutes and review of legal and regulatory correspondence.
We also identified the risks of material misstatement of the financial statements due to fraud. We considered,
in addition to 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 correspondence with debtors
and discussion of recoverability with management. We also identified potential for management bias in the
allocation of support costs against charitable activity categories. We addressed this through reviewing the
method used for reasonableness and re-performing the calculation to ensure it had been performed accurately
and in line with the stated method.
As in all of our audits, we addressed the risk of fraud arising from management override of controls by
performing audit procedures which included, but were not limited to: the testing of journals,. reviewing
accounting estimates for evidence 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 limitations of an audit. there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial ststements or non-complian￿ with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions 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 irregularits'es occurring due to fraud rather than error, as fraud involves intentional
concealment, forgery, collusion. omission or misrepresentation.
A further description of our ￿Sponsibl11t1es for the audit of the financial ststements is located on the Financial
Reporting Council's website at: www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
auditor's report.
13

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EUROPEAN RENAL ASSOCIATION
Use of our report
This report is made solely to the charity's trust*s. as a body, in accordan￿ with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's
trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the
fullest extent permitted by law, we do not ac￿pt or assume responsibility to anyone, other than the charity and
the charity's trustees as a body. for our audit work, for this report, or for the opinions we have formed.
15 Westferry Circus
Canary Wharf
London E14 4HD
PKF Llttlejohn LLP
Statutory Auditor
Date:
PKF Littlejohn LLP is eligible 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
14

EUROPEAN RENAL ASSOCIATION
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2023
Group
Group
Charity
(Restated)
(Restated)
2023
2022
2023
2022
Total
Total
Total
Total
unrestricted unrestricted unrestricted unrestricted
funds
funds
funds
funds
Charity
Income from:
Donations
Donations
Gift aid payments from subsidiary
Note
53.330
53,330
2,455,370
1,450,603
Charltable activities
4.811.170
4.308.242
4.811,170 4,308,242
Other trading activities
Trading activity - Exhibition spa￿, industry
syrnposia, sponsorship and other ancillary
services
Other trading activity - Euromeetings
4.250,628
3,849,945
Investments
Income from investments
Interest received
Other Income
9a
19,791
34.783
376
47,492
19,791
34,783
376
47,492
Total
9,169,702
8,206,055
7,374,444 5,806,713
Expendlture on:
Ralslng funds
Promotional activities
Other trading activity - Euromeetings
248,954
213,273
240,953
165,332
Charitable activit1•8
6,538,777
5,861,987
5,203,429 4,386,991
Total
6,787,731
6,075,260
5,444,382 4,552,323
Net Income before other gains and losses
2.381,971
2,130,795
1,930,062 1,254,390
Currency movements on translation
Net gainsl(losses) on investments
{61,288)
238,248
{18,918)
(388,968)
(4,445)
238,248
(18,918)
(388,968}
9a
Net income and net movement Sn funds
2,558,931
1.722,909
2,163,865
846,504
Reconciliation of funds:
Total funds brought forward as previously stated
Prior year adjustment
12,918,390 11,093,345 10,223,353 9,274,713
(102,136)
(102,136)
19
Total funds brought forward - Reststed
12,816,254 11,093,345 10,121,217 9,274,713
Total funds carried forward
15.375,185 12.816,254 12,285,082 10,121,217
The Group has no gains or losses that are not shown above and all activities are continuing.
The accompanying notes form part of these accounts.
15

EUROPEAN RENAL ASSOCIATION
CONSOLIDATED AND ASSOCIATION BALANCE SHEErs
YEAR ENDED 31 DECEMBER 2023
Group
Group
(Restatèd)
2022
Charlty
Charity
(Restated)
2022
Notes
2023
2023
Fixed assets
Tangible fixed assets
Intangible fix8d assets
Investm&nts
929,561
929,561
14,162
14,162
3.292,219 3,060.090 3,292,223 3,060,095
534,095
534,095
4,235.942 3,594,185 4,235,946 3,594,190
Currenl A8sel8
Debtors
Cash at bank and in hand
10
1,276,769
1,249.812
718.687
616,746
11 11,704,440 10.329,553 8,811.822 7,725,871
12,981,209 11,579,165 9,530.509 8,342,617
Llabllltlas
Creditors.. Amounts falllng due withln
one year
12 1,666,404 2,213,939 1,305,811 1,672,433
Nèt Current A388t8
11,314,805 9,365,226 8,224,698 6,670,184
Total assets less current liabllltle8
15,550,747 12,959,411 12,460,644 10,264,374
Creditors.. Amounts falling due aft8r more
one year
12
175,562
143.157
175,582
143,157
Net Assets
15,375.185 12.816,254 12,285,082 10,121,217
Funds of the Charity
Unrestricted fund8
15.375,185 12.816.254 12,285,082 10,121,217
Total Charlty Funds
15.375,186 12.816.254 12,285,082 10,121,217
The financial slatemenls were authorised and approved for issue by the Counal of Management and slgned
on their behalf by..
Prof. I
an Ry¢hlik (Secretary-Treasurer)
2024
The accompanyin
otes fomi part of these a￿Ounts.
16

EUROPEAN RENAL ASSOCIATION
STATEMENT OF CASH FLOWS
YEAR ENDED 31 DECEMBER 2023
Group
Group
(Restated)
2022
Charity
Charity
(Restated)
2022
Notes
2023
2023
Net cash from operating activities
1,799,429 2,334,784
1,510,493 1,279,615
Cash flows from investing activities:
Purchase of fixed assets
Interest received
PrO￿ed$ from sale of investments
(450,453) (538,299) (450,453) (538,299)
19,791
376
19,791
376
6,120
6,906
6,120
6,906
Cash used by investing activities
(436.782) {531,017) (424,542) (531,017)
Change in cash and cash equivalents
in the year
1,374.887 1,803,391
1,085,951
748,598
Cash and cash equivalents brought forward
10,329,553 8,526,162 7,725,871 6.977,273
Total cash and cash equivalents carried foThvard 3 11,704.440 10,329,553 8,811,822 7,725,871
17

EUROPEAN RENAL ASSOCIATION
NOTES TO THE STATEMENT OF CASH FLOWS
YEAR ENDED 31 DECEMBER 2023
1 Reconciliation of net movements in
funds to net cash flow from operating
activitles
Group
Group
(Restated)
2022
Charlty
Charlty
(Restatedl
2022
2023
2023
Net movement in funds for the reporting
period (as per the statement of financial
actlvltles
2,558,931
1,722,909 2,163,865
846,504
Adjustments for..
Net {gaInS)￿oSseS on investments
Depreciation
Amortisation
Interest received
(Increase)Idecrease in debtors
(Decrease)fincrease in creditors
(238,248)
33,745
7,080
(19.791)
(27.158)
(515,130)
388,968
13,384
(238.248) 388,968
33,745
13,384
7,080
(376)
(19,791)
(376)
(29.198) (101,941) (242,005)
238,721
(334,217) 273,140
Net cash generated from operating
activities
1,799,429 2,334,408 1,510,493 1,279,615
2 Reconciliatlon of net cash flow to
movement in net funds
Group
2023
Group
2022
Charlty
2023
Charlty
2022
Balance at 1 January
Net cash inflow
Exchange (losses) I gains on cash
10,329,553 8,526,162 7,725,871 6,977,273
1,436,175 1,822,309 1,090,396
767,516
(61,288)
(18,918)
(4,445) (18,918)
Balance at 31 De￿mber
11.704,440 10.329,553 8.811,822 7,725,871
3 Analysls of cash and cash and
cash equivalents
Group
2023
Group
2022
Charity
2023
Charity
2022
Cash at bank and in hand
11,704,440 10,329,553 8,811,822 7.725,871
18

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. Accounting Policies
The Association is an unincorporated charity registered in England and Wales and with its principal office
and operative headquarters disclosed on page 2. The charity's 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. Basls of preparation
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise stated in the relevant accounting policies
below or the notes to these accounts.
The financial statements have been prepared in accordance with the Statement of Recommended
Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in
October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic
of Ireland (FRS 102) 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 Eurocongress Limited as well as Euromeetings Srl up to the
date it was placed into liquidation on 4 September 2020.
The financial statements are prepared in Euros which is the functional currency of the charity and to
the nearest É.
The Charity constitutes a public benefit entity as defined by FRS 102.
The financial statements have been prepared to gtve a 'true and fairf view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fair view,. This departure has involved following the Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued
on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended
Practice effective from 1 April 2005 which has been withdrawn.
b. Going concern
The financial statements are prepared on the going concem basis. ERA has consolidated reserves
of 15,375,185 at 31 De￿mber 2023 including net current assets of É11,314,805 and cash at bank
of É11,704,440.
The Trustees have reviewed the financial position of the charity at 31 De￿rnber 2023 and
considered their forecasts and consider the charity is a going concern for a period of at least ￿e1ve
months from the date of signing these financial statements and that there are no material
uncertainties to note.
c. Fund structure
Unrestricted funds are general fvnds that are available for use at the Council of Management's
discretion in furtherance of any objectives of the charity.
19

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. Accounting Policies (continued)
d. Income recognition
All income is recognised in the period in which the charity is entitled to re￿ipt, the amount can be
measured with reasonable certainty and it is probable that the income will be re￿ived, and
specifically as follows..
i) Income from trading activities is income receivable by the subsidiary company on selling
exhibition space, industry symposia, sponsorships and other ancillary servI￿S in connection
with those congresses held by the Association or with other events organised by the subsidiary
company. Turnover is stated after trade discounts, exclusive of VAT and other sales taxes.
li) Investment income includes income from investments and bank interest and is recognised in
the year in which it is receivable.
iii) Membership fee income is recognised in the year to which fees relate.
iv) Congress proceeds are recognised in the year that the congress was held.
v) Donations from the Association's subsidiary undertaking are recognised on a receivable basis
and third paty grants and donations are recognised in the year in which they are due.
vi) Nephrology Dialysis Transplantation (NDT) and Clinical Kidney Journal (ckj). The Association
utilises the services of Oxford University Press to print and to distribute Nephrology Dialysis
Transplantstion (NDT) and to publish the online journal Clinical Kidney Joumal. Each year
Oxford University Press prepares audited financial statements of their activities and the results
and the net result is either remitted to the Association or invoiced to the Association. This year
the Journal has made a profit. The net financial effects of these activities are disclosed as an
incoming resource of the Association and is recognised in the year these are received.
e. Expendlture recognltlon
Liabilities are recognised as expenditure as soon as there is a legal or constructive 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 expenditure 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 funds are those costs attributable to generating incoming resources for the charity,
other than those costs incurred in undertaking charitable activities or the costs incurred in
undertaking trading activities in furtherance of the charity's objects.
ii) Charitable activities comprise all costs incurred in the pursuit of the charitable objects of the
charity. These costs, where not wholly attributable are apportioned be￿een the categories of
charitable expenditure in addition to the direct costs. The total cost of each category of
charitable expenditure therefore includes support costs and an apportionment of overheads.
Grants payable are accrued insofar that the beneficiary has an expectation of receiving a grant
as at the balance sheet date, but only if such grant is unconditional. Where the charity retains
its discretion over grants to be made, and the grants are conditional on the beneficiary satisfying
certain requirements. then such grants are not accrued.
iii) Support and governan￿ costs and allocation
Support costs have been allocated to direct charitable expenditure based on proportion of direct
costs. Govemance costs comprise all costs involving the public accountability of the charity and
its compliance with regulation and good practi￿. These costs include costs related to statutory
audit and legal fees together with an apportionment of overhead and support costs.
20

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. Accounting Policies (continued)
Fixed assets
Fixed assets, including property, plant and equipment and intangible assets. costing more than É500
are capitalised and accounted for at historical cost. The assets are written off over their useful
economic lives as follows-.
Buildings - 2 % on cost per annum.
Furniture and Fittings - 330/0 on cost per annum
Electronic equipment and Software - 33 % on cost per annum
Website development_ 33 % on cost per annum
ere the recoverable amount of an asset is found to be below its net book value, the asset is
written down to its recoverable amount and the loss on impairment is 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 service potential on its initial
acquisition. In the year the charity currently has no tangible fixed assets to which impairment
provisions apply.
g. Flxed asset Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction
value and subsequently measured at their fair value as at the balance sheet date using the closing
quoted market price. The statement of financial activities includes the net gains and losses arising
on revaluation and disposals throughout the year.
The Charity does not acquire put options, derivatives or other complex financial instruments. The
main form of financial risk faced by the charity is that of volatility in equity markets and investment
markets due to wider economic conditions, the attitude of investors to investment risk, and changes
in sentiment concerning equities and within particular sectors or sub sectors.
h. Reallsed gains and losses
Realised gains and losses on investments are calculated as the difference between sales proceeds
and their market value at the start of the year, or their subsequent cost, and are charged or credited
to the statement of financial activities 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 at the year
end.
Foreign currencies
Transactions in foreign currencies are translated at an average rate calculated for the year.
Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at
the Balance Sheet date. All other 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 chargeable gains. as they fall within the various 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 place in order for a donation of profit from
subsidiary to parent to be recognised in the financial staternents. There was no legal obligation in
pla￿ at 31 December 2023 and so the donation of the subsidiary company's profit to ERA has
correctly not been recognised within these financial statements. Where 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 subsidiary company.
21

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. Accounting Policies (continued)
k. Critical judgements and estimates
In the application of these accounting policies, the TrUSt￿S are required to make judgements,
estimates and assumptions about the carrying value of assets and liabilities that are not readily
apparent from other SoUr￿s.
Estimates and judgements are continually evaluated and are based on historical experience and
other factors, including expectations of future events that are believed to be reasonable under the
circumStan￿s. Although these estimates are based on management's best knowledge of the
amount, events or actions, actual results may ultimately differ from those estimates. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the revision
affects only that period or in the period of the revision and future periods if the revision affects current
and future periods. The Trustees consider the following items to be areas subject to estimation and
judgement..
i) Income recognition in respect of the deferral of income
ii) Accruals and commitments in respect of grants payable
iii) The allocab'on of expenditure between reportable categories
Financlal Instruments
Basic financial instruments are initially recognised at transaction value and subsequently measured
at amortised cost with the excepb'on of investments which are held at fair value. Financial assets
held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A
specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is
defined as all cash held in instant access bank accounts and used as working capital. Financial
liabilities held at amortised cost comprise all creditors except social security and other taxes.
Debtors
Trade and other debtors are recognised at the settlement due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Credltors and provlslons
Creditors and provisions are recognised where the charity has a present obligation resulting from a
past event that will probably result in the transfer funds to a third party and the amount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are nomially
recognised at their settlement amount after allowing for any trade discounts due.
Employee benefits
Short tsrm bener
Short term benefits including holiday pay are recognised as an expense in the period in which
the Servi￿ is re￿ived.
Employee terniination benefts
Termination benefits are accounted for on an accrual basis and in line with FRS 102.
Prior year adjustment
A prior year adjustment has been made to reflect the transactions previously omitted from the 2022
financial statements. As a consequence. the 2022 balan￿S have been restated. Further information
on the change has b￿n disclosed in Note 19.
22

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
2 Income- Donations
Group
2023
Group
2022
Charity
2023
Charity
2022
Working Groups
53,330
53,330
53,330
53,330
3 Income- Charltable activities
Group
Group
(Restated
2022
Charity
Charity
(Restated)
2022
2023
2023
Congress Proceeds..
Direct- Congress Membership Fees
Membership
Journals and Editorial Offices
2,713,213
656,873
1,441,084
2,262,501
497,735
1,548,006
2,713,213 2,262,501
656,873
497,735
1,441,084 1,548,006
4,811,170
4,308,242
4,811,170 4,308,242
4 Expendlture- Support Costs
Group
2023
Group
2022
Charity
2023
Charlty
2022
ERA HQ and staff management
Professional Fees - Governance costs
Administration Management
Miscellaneous
Staff costs
Bank Charges & Other Commission
Bad Debts
89,943
195,304
658,385
31,715
969,240
69,790
24
43,587
262,212
384,700
31,338
899,007
56,231
651
89,943
153,913
618,552
31,715
969,287
69,449
43,587
221,437
384,700
31,338
899,007
54,924
2,014.401
1,677,726
1,932,859
1634,993
Support costs have been allocated to direct charitable expenditure based on proportion of direct costs.
Staff costs are allocated as support costs in furtheran￿ of all charitable objectives of ERA.
23

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
4 Charitable Expenditure- Group
Support
cost
2023
Total
Total (Reststed)
2023
2022
Direct cost
2023
Congresses and other trading
Education
Research
Meetings
Relations with Societies and Institutions
3.091.522 1,376.447 4,467,969 4,298,050
360,737
160,612
521,349
288,266
991,663
441,521
1,433,184 1,179,036
26,454
11,778
38,232
24,586
54,000
24,043
78.043
72.049
4,524,376 2.014,401 6,538.777 5,861,987
Charitable Expenditure- Group Comparative (Restated)
Support
cost
2022
Direct cost
2022
Total
2022
Congresses and other trading
Education
Research
Meetings
Relations with Societies and Institutions
3,082,073
203,156
830,928
17.327
50,777
1,215,977 4,298,050
85,100
288,266
348,108
1.179,036
7,259
24,586
21.272
72,049
4.184,261
1,677,726 5.861,987
Charltable Expendlture- Charity
Support
cost
2023
Total
Total (Reststed)
2023
2022
Direct cost
2023
Congresses and other trading
Education
Research
Meetings
Relations with Societies and Institutions
1.837,716 1,086,064 2,923,780 2,584,274
360.737
213,190
573,927
332,278
991,663
586.058 1,577,721 1,359,049
26,454
15,634
42,088
28,340
54.000
31,913
85,913
83,050
3,270.570 1,932,859 5,203,429 4,386,991
Charitable Expendlture - Charity Comparative (Restated)
Direct cost
Support
cost
2022
Total
2022
2022
Congresses and other trading
Education
Research
Meetings
Relations with Societies and Institutions
1,649,810
203.156
830.928
17,327
50.777
934,464 2.584,274
129,122
332,278
528,121
1,359,049
11,013
28,340
32,273
83,050
2,751,998
24
1.634.993 4,386,991

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
5 Staff Costs
Group
2023
Group
2022
Wages and salaries
Social security costs
Pensions costs
513,527
451,618
4,141
530,634
368,373
969,286
899,007
The average number of employees during the year was 13 (2022.. 11) with all employee time involved
in providing either support serrfices to its governan￿ and charitable activities.
During the year ended 31 December 2023. termination payments totalling É1,965 (2022.. É122) were
paid to 2 (2022.1) employees. There were no termination payments outstanding at the year end.
The number of employees whose total employee benefits exceeded ￿0,000 for the year ended
31 December 2023 and fell within the following band was:
2023
2022
70,001- f80,000
80,001- É90,000
110,001- É120,000
120,001- É130,000
140,001- £150,000
ERA considers its key management personnel to comprise three from the ex-officio members (President,
Secretary-Treasurer, Renal Science Chair (former Chair of Administrative Offices)) detailed on page 1.
No key management personnel received any remuneration for their services. No Trustees were
remunerated by the charity (2022: ÉNil).
DL5ring the year ended 31 De￿mber 2023 sums totalling É50,654 were paid to 15 {2022: E1,745 paid to
2) Council members in relation to the reimbursement of travel and subsistence expenses.
6 Auditors. Remuneration
Group
2023
Group
2022
Fees payable to the Companvs auditor and its associates for the
audit for the Group's annual financial statements (including
subsidiary companies)
Fees payable to the Company's auditor and its assoclates In
respect of:
Taxation compliance services
All other ServI￿S
5,735
5,330
4125
25

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
7 Tangible Assets - Group & Charlty
Land &
Furniture Electronics &
Building & Fittings
Software
Total
Cost
At 1 January 2023
Additions
529,608
350.225
15.363
44,713
34,890
34,273
579,861
429,211
At 31 December 2023
879,833
60,076
69,163
1.009,72
Depreciation
At 1 January 2023
Charge in year
7,944
21.142
13.399
3,992
24,423
8,611
45,766
33,745
At 31 December 2023
29,086
17,391
33,034
79,511
Net Book Value
31 December 2023
850,747
42,685
36,129
929,561
31 December 2022
275
1,964
10,467
534,095
8 Intangible Assets- Group & Charity
Website
Development
Total
Cost
At 1 January 2023
Additions
21,242
21,242
At 31 De￿mber 2023
21,242
21,242
Amortisation
At 1 January 2023
Charge in year
7,080
7,080
At 31 December 2023
7,080
7,080
Net Book Value
31 De￿mber 2023
14,162
14,162
31 December 2022
26

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
9 Investments - Charity & Group
2023
2022
Grou
- Listed non-UK investments on recognised
stock exchanges (note 8a)
3,292.219 3,060,091
Investment in Subsidiary
Charl
3,292,223 3,060,095
Historical Cost
Group - Listed non-UK investments on recognised
stock exchanges (note 8a)
2,386,974 2,393,094
Investment in Subsidiary
Charity 2023
2,386,978 2,393,098
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 statements to
31 December and has reported the following:
2023
2022
Net assets
Turnover
Expenditure
Profit
3,090,107 2,695,142
4,250,628 3,849,945
(3,920,372) (2,868,023)
330,256
981,922
27

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
10 Debtors: Amounts falling due within one year
Group
Group
(Reststed)
2022
Charity
Charlty
(Restated)
2022
2023
2023
Amounts due from subsidiary undertaking
Trade debtors
Future congress expenses paid in advan
Accrued income
Other debtors
498,624
663,855
40.417
6,582
246,419
23,222
254.508
417,180
40,417
6,582
246,419
23,222
27,128
27,128
1.209.478
296,769
718,687
296,769
Debtors: Amounts falllng due after more than one year
Trade debtors
Future congress expenses paid in advan
486,130
466,713
67,291
319,977
67,291
952,843
319,977
Total Debtors
1,276,769
1,249.612
718,687
616,746
11 Cash at bank and In hand
Group
2023
Group
2022
Charlty
2023
Charity
2022
Bank accounts
Petty cash accounts
11,699,498 10,328,107 8.806,880 7,724,425
4,942
1.446
4,942
1,446
11,704,440 10,329.553 8,811,822 7,725,871
12 Credltors: Amounts falling due within one year
Group
Group
(Restated)
2022
Charity
Charity
(Restated)
2022
2023
2023
Other creditors
Accruals and deferred income
249,035
369,799
1,417,369 1,844,140
249,035
258,246
1,056,776 1.414,187
1.666.404 2,213.939 1.305,811 1,672,433
Creditors: Amounts falling due after more than one year
Defeffed salary
175,562
143,157
175,562
143,157
29

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Deferred Income
Group
2023
Group
2022
Charity
2023
Charity
2022
At 1 January
Resources deferred in the year
Amount received from previous year
1,704,487
1,485,044
1,303,500
993,757
1,099,906
1,704,487
803,665 1,303,500
(1,704.487) (1,485.044) (1,303.500) (993,757)
At 31 December
1,099,906 1,704,487
803,665 1,303.500
Deferred income mainly relates to membership income received in advan￿ of the following year along
with Congress income received in advan￿ of the following year.
13 Net Assets
2023
Reserve
Fund
2022 (Restated)
Reserve
Fund
General
Fund
General
Fund
Total
Total
Fixed Assets
Fixed assets
Investments
943,723
943.723
3,292,219 3,292.219
534,095
534,095
3,060,090 3,060,090
943,723 3,292,219 4,235,219
534.095 3,060,090 3,594,185
Net current assets
11,314.805
11,314,805 9,365,226
9,365,226
Creditors due after more
than a year
{175.562)
(175.562) {143,157)
(143,157)
Total
12,082,966 3,292.219 15.375.185 9,756.164 3,060,090 12,816,254
In accordance with the Council of Management Report the 'Reserve Fund, which comprises the total
market value of the investments at the year together with cash funds held in those investments totalled
3,292,219 (2022: f3,060,090) which is below the 'Reserve Fund Maximum Amount of É6,000,000.
14 Glfts
The Association receives services for which no costs are charged. No monetary amounts have been
included within the financial statements 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.
30

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
15 Related Partles
As at 31 December 2023 the Association was owed ÉNil (2022.. ÉNil) from its subsidiary company ER4
Eurocongress Limited which includes ÉNil (2022: ÉNil) as a gift aid payment.
During the year, the spouse of the Executive Director. Monica Fontana, was paid É11,302 (2022..
19,152) for sep11￿S provided to the charity on an arm's length basis.
There were no other related party transactions during the current or the prior year.
16 Contlngent Liabilities
As noted in the Report of the Council of Management, the Association has indicated its intention to
support research projects into the future through the payments to outsourced professional companies in
charge of preparing the application for EU funds. At the year end the Association had indicated its
intention to set aside funds for this purpose.
17 Capital Commltments
There was no committed expenditure at either year end.
18 Operatlng Leases
The group had the following future minimum lease payments under non-cancellable operating leases
for each of the reporting periods..
2023
2022
Payments due
Not later than one year
Later than one year but not later than five years
31

EUROPEAN RENAL ASSOCIATION
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
19 Prior year reststement
A restatement of prior year balances (for both the Charity and the Group) was carried out during the
current year in order to account for transactions in 2023 that related to the year ended 31 December
2022. The restatement has resulted in an increase, from grants not recognised, in income and debtors
of É77,419' an increase in expenditure and creditors of E179,555 from expenditure not accrued at the
prior year end,. and a resulting reduction in the net assets of the Charity and the Group of É102,136. The
errors only relate to transactions that should have been recorded in the prior year. As a result, there is
no impact to the opening reserves of the prior year that need to be disclosed.
These restatements are summarised in the tables below:
Group:
As prevlously stated
at 31 December 2022
Restatement
As restated at 31
December 2022
SOFA".
Income
8,128.636
77.419
8,206,055
Expenditure
5,895,705
179,555
6,075,260
Balance Sheet:
Debtors due under one
year
1,172,193
77,419
1,249,612
Creditors due under
one year
2,034,384
179,555
2,213,939
Net assets:
12,918,390
(102,136)
12.816,254
Charity:
As previously ststed
at 31 December 2022
Restatement
As restated at 31
December 2022
SOFA..
Income
5,729,294
77,419
5,806,713
Expenditure
4,372,768
179,555
4,552,323
Balance Sheet:
Debtors due under one
year
539.327
77,419
616,746
Creditors due under
one year
1,492,878
179,555
1,672,433
Net assets:
10,223,353
(102.136)
10.121,217
32