Registered number: 03816842 Charty numbèr: 1077893 CQPI, ASSOCIATION OF BRITISH NEUROLOGISTS (A Company limited by guarantee TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 *A84Z2G9K 281Q5r2W22 COMPANIES HOUSE A19
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DorJJSW Envelo Kl.. D740YO(kS11F497th3E84E433501C939 ASSOCIATION OF BRITISH NEUROLOGISTS IA company limited by guarant••) CONTENTS Reference and admlnlstrallvo detalls of the Asr•oclallon. its Trustogs" and advlsgrs Trustees. report 3-10 Independent audllovs. rnport on the financlal slalements ststwnent of financlal acllvltles 16 Balance sheet 17-18 SLemenl of cash Ilows 19 Notes to tho flnanclal ststemgnts 20-41 Griffin Stcffie Moscrop& Co
[Cus9D En¥dcpe ID.. D74DWO-51 IF497A-A3E&8E433501W9 ASSOCIATION OF BRITISH NEUROLOGISTS IA company limited by guarantee) REFERENCE ANO ADMINISTRATIVE DETLs OF THE ASSOCIATION. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees Professr T. T. Wamer, President (from 20 May 2021) Professor D. J. Burn. Past President Dr. R. J. Davenport. President Elect (from 20 May 2021) Dr. J. Sussman, Honorary Secretary Dr. L. Kinlon, Honorary Secretary Elect {from 20 May 2021) Professor N. P. Robertson. HolTary Treasurer Dr. C. M."Gabriel, Meetings Secretary (from 20 May 2021) Dr. C. Mummery, Chair ofthe Servis Commrttee2 Professor M. Turner, Chair of the Research Committee2 Dr. C. Kipps. Chair of the Qualty Committee2 Dr. M. S. Jones. Chair of the Educatw)n CfJnmittee2 Dr. L Nashef. Ilo 20 May 2021} Dr. A. Nitkunan Dr. S. H. Erikss¢)n Dr. B. R. Stanton Or. D. Nicholl Or. P. N. Cooper. (from 20 May2021} Professor Saiju Jacob, {from 20 May 2021) Ms. E. l. Bakayl Ld S. Fink1 Council members All trustees lisled above seDRd as council mwnbets with excepts'on of lay trustees, Ms. E. l. Bakay and Lord S. Fink.2 Dr. A. Pereira, Neurology SAC Chair Ifmm June 2021) Dr. L. Mpjgley, ABNT Chair (from August 20211 Lay Irusl88 Non Voting Member Page 1 Griffin Stone thscrop& Co
DocuSvJD En¥dope ID.. D74D5A8rN511F497A-A3EE4335O1c939 ASSOCIATION OF BRMSH NEUROLOGISTS IA company Ilmited by guardnteel Company registered number 03816842 Charty rngistergd number 1077893 Registered office and prfnclpal operating office Ormond House, 4th Floor 27 Boswell Street London. WC1 N 3JZ Company secretsry Miss F. Pal81 Executlve Director A Wiight-Parke8 Independent auditots GTrfin Stone mOrOp & Co Chartered Accountsnls & SL2tutoryAuditors 21-27 Lamb's Conduit Street London, WC1N 3GS Page 2 iffin Ste Moscrop & Co
DoGwSiw Envelope ID." 074D5Aa(sl1FA97A48£E43350lcg39 AssocMnoN OF BRMSH NEUROLOGISTS IA company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 310ECEM8ER 2021 The Trustees (who are also directors of the charty the puwes of the Conyanies Acll present their annual report together with the audrted financial statements of the Assctiats"on for the 1 January 2021 10 31 December 2021. The annual report serves the purposes of both a Trustees. port and a directors. report under company law. The Trustees confirm that the annual report and financial statements of the charitabje rnpanY comply with the current slalulory requirements. the requirements of the charitable compan¥s goveming document and the prowsions of the Statement of Recommended Practice {SORPI applubfe lo charities preparing their accounts in aordanCe with the Financ1 Repotting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Sinc8 the Assttiatw quaifs as small under section 382 of the Companies Acl 2006, the strategic report required of medium and large companies under the CorNnieS Acl 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omrtted. STRUCTURE. GOVERNANCE AND MANAGEMENT a. Constitutlon The Association was incorporated as a Charitle company limiled by guarantee and not hwng a share capital on 30 July 1999 and is a registered thanty. The Association is govemed by its Memorand1 ar¥J Articles of Associat)n and by its Rules. The principal obj&ts of the ASsoaatn are to pr7Krte educalion in. and the advancement of. the nèurological sciences. induding (Wrtho limitation) the pr&tice of neurology in the United Kingdom and IrelaThJ. There have been no changes in Ihe Obl&trts since kst annual report. b. Methods of appolntment or •lectlon of Truste¢s The management of the AsKlat)n is ultimately the responsibilrty of the trustee5 who are appointed under the term$ of the Arti¢te$ of Associatson and the Rules. . Organisatlonal structuve and decision4naking' policies The ¢)ffws, being the Presidgrt the Presthnt Elrf the HonLYary Secretary, the Honorary Secretary Eled, the Honorary Treasurer, the Meeting Secretsry. tcgelher with the eleded councilbrs, are ex officio members of the trustee board of the Association. In addOn to the ex offioo members. the Iruslee t¥)ard includes 2 lay members appointed by the board. The chaits of the ServKes CorFMnittee. the Education Committee. the Research C¢Jnmittee. the Qualty Committee arKI the ABNT are rM)n voting membw5 of the trustee board enlilled to . receive notsce of all trustee w£elings. The trustee board and Council meet Ihree times a year {January. April and Septwnb8r) when slrntegic decisions and business matters are discussed. Decisk)ns are generally tabled for discussion al these meetings and then, if need be, tsken lo the annual generd meets"ng. Any urgent decisions are made by way of video conference call in which the officers of the A$sociatKffl partpate weekfy and council members monthfy. InforMaln is then di5seminat¢d to the trustees elèctronicalty to a dem(Krat apwoath is t. The day-trfrday management of the Asscrtialion 1$ detegaled to Joanne Lawrence. the ABN'S Executive Director (until 12 November 2021, she is replaced by Abby WrMJhl¥arkes. joined on 18 October 2021}. Page 3 cffin Stone Moscrop & Co
DowS¥Jn EnYeloFe ID.. D74t15P8Lk511F497A-A3EB4E433501C939 ASSOCIATION OF BRMSH NEUROLOGISTS {A company limited by 9uarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 310ECEMBER 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT l¢ontiDued) d. Induction and training of Trustees All twslees undergo an Induc1# programme whrch is pmvKled by Ihe Executive Director. This detail$ all the roles and SponsIbl11t1eS of the trustees of the Association. e. Pay poll¢y for key management petrnnel Staff salaries are rewewed annualty by the board of tnjstees and *Jreed. f. Risk management Thè truslees have assessed the major strateg& business and c4)erational risks to whKh the A$SlatIOn is eyposed. in particular those rdaled to the operations and finances of the Ass¢xia1n. and are satisfied that systems procedures are in place to monitor and control those risks in order to mttigate any impact they may have on the Association. The risk giSter. which is mairrtained and updated for review each council meeting. was amended during 202110 refied the risks relating to the gkibal pandemK. OBJECTIVES AND ACTivmES a. Objectives The principal aims and objectNes ofthe Associalion we to: Encourage nationwde availabilty of excellent and equitable neurobgical seNces'. Support neurologists and neuiol)yical trairS in their dinical Prte.. Support neurologists and neurokgic81 trainees in their Tesearch and academic actwities.. Increase knowledge of the nervous system and its dwrders.. Ensure the continuing professional development of ts members" Promote the gdu¢al#)n of neurologul trainees and support leaming of neurok•Jy throughout medical Ifainwig; Collaborate with the Royal College of Physicians {London. Edinburgh and Glasgowl., Foster communution with pats'ent interest groups". Maintain contads with neurologists in developed and deveknpirvj countries: Provide guidan, when required. for rnatte¥s relats.ng to neurology. Page 4 cffin Moscrop & Co
DocuS¥Jn Envd¢F10." 074DSAN11F497A-A3E8-8E43W1C939 ASSOCIATION OF BRITISH NEUROLOGISTS {A company Ilmlted by guarantsel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 OBJECTIVES AND ACTIVITIES (continued b. Publlc benefft In preparing this report. the trustees have considefed the Chaiity ConThission's general guKlance on public benefit. By seeking to improve the heahh arKI welbeIng of people wilh neurological disorders and by advancing the knoedge and piactice of neurolc9y Wrthin the United Kingtkn and Ireland. the Association's aims ensure that meets the Charity Commission's public benefft rterIa. The Association works ck)sely wth palient 9ftwps afKI organisations in order to provide a united approxh to the field of neurosoences and. in lum. an excellent mU-centred service for palients throughout the United King¢Jom. The AssLxiation has representation from awund the UK and, in Partular, via the Services Committee, whose regh)nal fepresenlalNes dete¢t and report on any PrC) within the trusts. The A5s0chation is therefore awaie of any issues within a trust which patient5 may be facing. These representstNes a150 act as Royal College of Physicians of London representatives, ensuring that any neurokJgy•relaled job advertisements are fair and appr¢)Priate. The Qualrty C¢)mmittee is COnrned wrth all matters related to qualty. quality improvement. innovation. audit and revalidath)n. supporting other ABN comMeeS in their role. The ABN Research Committee works to ensure that there is provisKJn and support for those wishing to undertake neurological research. Academic FQSts have been at some rtsk in the past, and the A$so¢ialion continues lo support Ihese posts. The Educats'on Committee is very much involved in attracting trainees into the field of neurology, and also offers an undergraduate prize which is well recetved by medical students across the UK. Thg ABN monitors the number of consuttanl neurologists throughout the Unsted Kingdom and will continu& to push for an increased number of consultant posls where needed. The Association continues r(s commitment to the provision of training for jurtior doctors. alkit in a drfferent bryrtual fomiat during 2021 when the Iraining provision for registrws. ftyJndation"do¢tors and ffledical sludents the forn of wrtual rneetings. Th? Association's tri85. wherever po1e. to assist with p*'ent lehone enquiries and its website includes information for palY&nls, Such as details of patient organisatN)ns and hdp groups. During tho COVID-19 pandemi¢, $ignifKanl resource was invested in provKling up to date guidance via the website for n8urologisl$, patients. carors and Allied Heamh ProfessionaL%. ACHIEVEMENTS AND PERFORMANCE a. Revlew of activities Highllghts from A8N's commlttees: ABNT . ABNT Acute N8urobw Bcc4 Camp ran for the 3rd year in a virtual format with over 109 live attendees and 185 on4emand viewngs. induding several intemational attendees. . The virtual ABN conference was supplemènted by a trainee moming session. This session induded clinical talks the management of Parkinson'5 disease and'top mistakes. from Senior colleagues. . ABNT representatives sil on the Neurdogy Speciaty Advisory Commitiee. In 2021 they were invow in the development of the new Curriculum fdltr•ving Ihe Shape of Training Changes as well as raisiThJ trainee concems on a national level. ABNT run a menlotship stheme. pwring Registrar5 with Foundation and IMT trainees wilh the aim of supporting their career5 in Neurology. In 2021 we sueSsful paired 10 mentees through our programme. . ABNT run a successful TvAtter account (@ABNTraineesl hvJhlighling cpportunitw wrthin Neurology in¢lLKling jjob opportunrties, research and edueation. We currently have 5867 followers. Page 5 Griffin Stone Moscrop & Co
Docusign Enbtkipe ID.. 074D5A80-511F497M3EUE433501C939 ASSOCIATION OF BRMSH NEUROLOGISTS IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 ACHIEVEMENTS AND PERFORMANCE lcontlnued) Con$ultationlAdvisory Groups With 61 wnsullations reSFod to 2021. this is still al kh¥er 18vd than prwandern. We expect thi5 to increase in 2022. . We renewed Advi50ry Group membership and added trainee reps to exh group. . We made a major conlribulK)ft to reviewing GIRFT NeUrokY report prwublicalion. . We continued to wntribute to national guidance on COVID-19 policy developmenL . We have ured a new opportunity lo WO wth NICE lo devebp programme for neurology-related guidance starting in 2022. Education Commlttee . We dgsigned and implwnented a system for ABN approval of posuFerCCT advanced clinical trainng fellowships. • We ran the secorKI wrtual ABN Undefgradue teaching day in Nov 2021 with over 180 student registrions. . We appointed the latest ABN AuslraL3sian Fellryw. . We SUPPDrted the Neurology SAC in submittir¥J to the GMC the final vthsion of the nwi Neurology higher specialist training currieulum. . We awarded undergraduate prizes lor best clinical case re1 audit. Equallty. Dlversty and Incluslvfty IED&II Committee . We carried out EDI research exerase wrth ABN membern. This was led by extemal agency, Busine88 in the Community. The rewt was published and shared with membets in 2021. . We are developing ABN EDI draft strategy to bé presented at ABN Annual Meeting May 2022. After consultation with members. Ihe ABN EDI strategy tfvrill be finalt5ed and published ty end of 2022. Flnanco, Audlt and Rlsk IFAR) Committoe . We have started a vIeW of the slructure and TOR of the FAR c(Thmittee to ensure we have the optimum mix uf expert support arKI advice. . We have reviewed and reStrtured the risk register lo help us manage the orgwbisation's risk profibe. . Developed an annual budget management strategy. . Working with professional advisors. we have entered wrto negotiati)ns to purchase a 50% share of Practical Neurology. as part of a nef$hiP arrangement with the BMJ. . Rebalanced our investment stralegy to build a resource for potential acquisiti and co4>wnership of Practical Neurologyjoumal, wlh the BMJ and to mtyate risks of hvjh interest rate environmenL Meetin9$ Cornmitt Planrd and delivered ABN'S online Annual Meeting 'ConneclM)ns' in May 2021. 11 v4a8 attended by 656 delegates Vlrtually, with 200 delegates presenb.ng posters. . Planned and delNer8d our Autumn training meets.ng in a h)rNI format in November, puttiNJ in place COVID-19 protocols for the 115 IpersOn delegates. They icined by 104 virtual delfj9es. 91% of delegates were very satisfied Mlh the event. Quallty Committee . Surveyed ABN members on weNbeing13rd ts"me). Comparing impact of pandemic in early and late phases with pre-pandemic respons85 Identified changes in work practice due to parylemic in relation to use cl remote consultations. advice and guidance options and appropriatenessldrffrcuty of implementation . Developed and pil014e5ted Neurclogy Safety Suryey for use in seff-assessment of safety n individual practK& and neurology services with aim of developing tool for use in appraisal . Developed structurelmechanism for NatAM Neurology AJ11$ for impknientalion in 'Jusl ask on8 thing, audit campaign. P4e6 Griffin Stone Moscrop & Co
DOWS3 EnvthJFe ID.. D74D5AB1I1F4g7A-A3EUE43JJ1C939 ASSOCIATION OF BRITISH NEUROLOGISTS IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 ACHIEVEMENTS AND PERFORMANCE l¢ontinued) Research Committee . A record 7 ABN FelkNA were apwnled to Pho prqttls after the largest nunber of appInts. involving more than 100 national and inlematKJnal peer revi8w request5. New charity funding partnerships wlh Episy Researth UK and Alzheimerfs Researeh UK, alongside renewed partners The Stroke AsSatn and our long•Standing scheme supporters The Guarantors of Brain and Patrick Berthoud Charitable Trust. . Development of the RegK)nal Opportunities F¢yum at the annual meeting lo showcase the diversity of activity in neurology centres across the UK_ . Ongoing support for the ABN Ra Diseases Ascertainmenl & Recnjitment online platform IRaDARI. Increase in the number of regional represenlatNes to ensure dinical neuroscience development across the whole ofthe ABN'S geograph1 membefship. S•rvic¢s Cornmitteè . Published ABN 9uidance on referral marwement and inpuited into NHSE guidance Built links with NHSE members leading work on OP transformation and the neurolw tran5fomiation NHSE work . Significant Contribution to safety with inviled seNice revtffws together with RCP in a number of areas, including major review in Belfast . With QC co4ed MeMbehIP suNey on worf(ing practice and wellbeing. with recent results ShoVn9 worrying IndS in wothforce . Cworking wrth GIRFT CRG to deveknp acLrte neurolw pthays for l¥hat gocé boks like, subscripts.on rates were rela1rd at the same knl as in 2019.. £250 for ordinary members. £100 for assctiate and affiliate membets. £45 for overseas and junKgr member5. £12 subscription rale for medieal students remained the same. A separate Alied Healih Professional category gave more eylensive membership rights, comparable to those of a Junior member, to UK and Ireland based Allied Health Professional with an annLbal subscription 01 £45. A vduntary donatton of £25 for Ordinary members and £5 for Associate and Affjliate members was collected with the annual subscriptk)n and supwted by over of consulianl members and trainee members. News is disseminated through a monlhty electronic newsletter sent out by email. Th8 new membership association software, inlroduced in 2019. tonlinued to enhance serv$ available lo ABN member although some planned developments were postponed due io cov119. An annud report {20201 was prepared for the webse. and disseminated to rnembers prior to the annual general meeting in May 2021. Affinity Events Ltd continues to assist the Assccialw with the organisation of scientific meetings. The Association corbtinues lo raise annual sponsorship from pharmace81 and ff*dical companies. The Association, in conjund]"on BMJ Publishirg. co-publishes and distributes copies of Practul Neurology to rt$ ordinary, associate and affiliate members free of charge. The online version of Practtil Neurology may also be accessed via the members, section of the ABN websrte. The A8N has additKinal office spe whKh has been a useftTrl kn.lty for members and officers requiring small meeting room facilrties in central London. The Assochqtson makes its boardroom available lo the Jn1' Neurosciences Council and the British A5s¢xiation of Stroke Physicians, as well as to other professional and charitable bodies. The ABN sublets part of its Ole space to the Guarantors of Brain for use by Ihe Brain Editofial team. Page 7 Griffin Stone Moscrop & Co
Docusign En%eW ID.. D7405A511F497KA3E43JSolC93g ASSOCIATION OF BRMSH NEUROLOGISTS (A MpanY limited by guarantee> TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 ACHIEVEMENTS AND PERFORIAANCE {eontinuedl b. Membership At 31 Decernber 2021 there were 826 ordinary mfjmbe of the AsslatIon. 273 senior members, 15 honorary members. 38 honorary foreign members. 74 overseas members. 328 associate members. 74 Affiliate members. 64 JunKir and 33 student members. Onty the ordinary members have a right to vote at the Association's general meetings though all members are nuraged to attend. c. Going ¢oncem After making approprie enquiries. the tntslees have a reasonabte expectation that the A$stxiion has adequate resources lo continue in operational gxFsten¢e for the foreseeable future. For IhFs reason, they onlinue lo adopt the going concem basts in preparing the financkql ststements. FINANCIAL REVIEW a. Revlew of the year In 2021. the ABN'S inwming resources were £872,0831£784.310 unre51Tieted income. È87.773 to the restricted A8N Clinical Research Training Felkmship fund}. Total resources expended were £706,76S (£593,845 unrestricted, £112.920 from the A8N CTRF fund) giving a nel surplus before revalu81ion of investment assets of £165,318. The income is an increase on 2020. where the bvJgest impact vras seen on the A8N. particularly its meetings that had lo move to a virtual plarforni. 2021 saw a retum to the autumn meetin9 in-person, and expenses for future in-person meetings. such as venue deposis. Staff costs increased due to matemty pay and Costs and the overfapping handover of the outgoin9 and new Executive Director. In 2021 the ABN m¢)ved £300.000 into the M&G Chanty Muth. Asset Fund. to help maximise the potential growth of reserves. Investments boed back in 2021 compared to 2020, contribukn.ng an increase of the ABN'S total fvnds from £1.423.153 in 2020 to £1,692.535 * lh& end of December 2021. The ABN Clinical Research Training Felkmship receNed £87.773 in 2021. In line with financial and legal ad¥e, the ABN'S objectNe is lo maintain a reserve of around 1-2 limes its normal annual expenditure. This is considered a safe margin which woukl allow forwhat had previousty been considered remote contingencies, such as the financiai faikne of an annud meeting. The impact of the pandemic on events will be monrtored dosely during 2022. . b. Re5eNes policy At 31 Decembef 2021 the Asslation,S unrestrided funds not invested in intangible or taThJible fixed assets totalled £1.360,300. As noted above, the trustees consider il prudent for the Aswcialion to maintain an available reserve in the region of 1-2 times its annual expenditure. The rationa has ahvays been thal, should the Assochglion's income fall Lsnexpectedly. this reserve woukj be used to enable the Association to plan and exeeute in good order either a reduction in ils aciimties or an improvement in its income stream_ The Association will continue to review its finanaal c¢)mmitff*nts the light of the new Cov119 related urKertainties. Page 8 &iffin Stone Moscrop &Co
DocuSwJn Envew ID.. D7405A85]IF49?AA3E8-eE433501Cg39 ASSOCIATION OF BRMSM NEUROLOGISTS (A company Ilmhed by guarnnteel TRUSTEES. REPORT {CONnNUEDI FOR THE YEAR ENDED 31 DECEIIIBER 2021 c. Grant making policy Cllnlcal Research Tralnlng Fellowshlp Applications open in the summer each year and are promoted the ABN website and newsletter. Typically, al lea$1 4 reviewers, selected on basis of their ac•Jemic stsnding and familiarity with the sub specralty. are used for each application. ABN Research CCfflmrt detemiines a shoruist of candN4es for interview based on bolh qualitative and quantitative feedback in the revivws. The inteNiew panel is comprised of ABN [In¢ll representatives {typically ABN President or President Elect. Chair Research Committee, Honorary Treasurer}, 1- 2 Scientific presentatIveS from each of the parknwats.ng furNling ttsjbes, and 2-3 addItnal Clinical experts {selected to ensure panel has at least one petson familrar with the subject of re5ear¢h for each applicant lo be inlerviewedl. Funding bodies are invrted to send a further atterKlee as observer. The inlemew panel scores each applicant on personal ICV. enthusiasm, kncA¥d98) and project {scienc8. transkition. feasibilty. training} attributes and add comments. Al the end of the inknigw process dl scores are reew by the interview pangl and agreement reached on succéssful Candates. d. Material Investfflents policy Any sianifiwt amounts of cash at bank which are not likety to be eypended in the th)rt lem a placed on deposit. If the trustees consider there lo be 5vJnrf¢ant amounts hehj on deposil which are unSikety to be expended in the mid-tTrlong4erm these are invested in awimulalKJn units in M & G's'The Equ'ty Investment Fund for Charities ICharifund}" vthich the trustees consKler gNes capital growth wtth relatively low risk. MEMBERS. LIABILITY The Members of the Assoaation guarantee to contiibutè an Munt not exceeding £1 to the assets of the Association in the event of winding up. PLANS FOR THE FUTURE The co publishing agreeffnt with the 8MJ. of Pradical Neurow ioumal. aLrthorised by the 2014 AGM. was updated in 2019 to relled current legal lenninology. BMJ has appToached the ABN lo review this arrangement, potentially m¢)ving to a ccwinership agre8ment in 2021. The ABN ha$ stsrted negotiat$ on this matter and hopes to condude this in 2022, it is hoped we'll bg able to pay the BMJ for our share through a lOneM7 interest free loan. Reserves were buitt up with this potential co-ownehip in nNnd. The Clinical Research Training Fdlowship fund has benefited from donakn.ons from ABN members. industy partners, ¢haritabl& trusts and from indivKluals. The ABN manage5 fundraising actmty an exterrsal fundraising onsullant. The Association's specific plans for 2022 a subject to afteratKin depending upon the course of the COVID-19 pandemic. The Annual Meeting is bèing planr+ed as an inyrson event in Harrogale. Trustees considered the risks or ttms and fett that on balance an inprson meeting was desirable. The 2022 auMn training meeting is being planned as a h)rI meeting. as it all takes pl in one room it is easier and more affordable to offer il as hybrid. The student day and neurcAcgy bootcamp 7wII remain Mrtual. as Ihey have helped us reach more attendees than when we delivered them in person. In 2022 wll we start planning our new organisational strategy. wthich will run from 2023- 2028. Page 9 Griffin Stone Moscrop & Co
Docusigm EnNTlope ID.. D74DSPW51IF497kKIEUE433501C939 ASSOCIATION OF BRITISH NEUROLOGISTS IA company Ilmlted ty guarantee) TRUSTEES. REPORT ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 Statement of Twsleos. responslbllitigs The Trustees Iwtho are also the directors of the ASSlatIOn for the purposes of company lawl are responsible for preparing the Trustees. report and the financ1 statements in acrdance with applicable and United Kingdom Acunting Standards (United Kingdom Generalty Accepted Accounting Practice). Ccynpany law require$ the Trustees to prepare financial statements for each financial . Under company law, th& Trustees musl not approve the financial statements unless they are satisfd that they give a true and fair view of the state of affairs of the Assctiation and of rts incoming resources and appltation of Sources, including ils income and eXperltu, for that penod. In preparing these financial slatemenls. the Trustees are required to." select suitable accounting policies and then appty them consistenty. obsefvo the melhc¥Js and principles ofthe Charibes SORP IFRS 102)., make judgments and accounting estimates that are reasonable and prudent,. state whethef applicable UK Accounting Standards {FRS 1021 have been follryw&J, subject to any fflaterial departures disclosed and explaned in the financial sts¢ernents.' prepare the financial staternenls on the wng concem basis unless it is inappropiiale to presu that the Assttiation wll continue in business. The Trustees are responsible for keeping adequate accounting records t are sufficient to show and explain the ASSoctIon,S transactions and disck)se reasonable accuracy at any tsme the financial position of the Association and enable them to ensure that the financial statements eknmpty with the Companies Aet 20C6. They are also responsible for safeguarding the assets of the A550crabon and hence for taking reasonable steps for the prevention arKI detection of fraud arHI other irregularttss. PROVISION OF INFORMATION TO AUDifoRS Each ofthe petsons who are Trustees at lh8 twnewhen this Twstees. rept is approved has confinned that.. so far as that trustee is alvare. there is no relevant a1 information of 1¢h the charitable compaWs auditors arg unaware. and that Iruslee has taken all th& steps that ought to have been as a trustee in order to be aware of wy inf0mtIOn need&J by the charitabte coMpanS auditus in connection with preparing their report and to establish that the eharrtabje companws atyJit aware ofthat informat)n. AUDITORS In accordance with the Association's ticleS. a resoluticm prcsJoswvJ that Grrffin Stone Moscrq) and Co be reappointed as auditors crfthe Association and that their remunerat)n be fixed by the trustees wtll be pul at the annual gen•1 meetin9. Approved by order of the members ofthe bowd of TTUStees on 19 May 2¢)22 and svJned on their behalf ty. Proiéswr T. T. Warner Presijenl Page10 Griffin Stone Moscrop & Co
Envdope ID.. D740s4al1F497KA3EB4E&1solC939 ASSOCIATION OF BRMSH NEUROLOGISTS IA company Ilmlted by guarante•) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS Opinlon We have audited the financk41 slalemenls of Associat)n of British Neurolc4Jists (the 'assctialion'l for the year ended 31 December 2021 which comprise the ststement of finawal ad1V((S. the balance sheet. the statement of cash flows and the related notes, induding a summary of significant accounting polics. The financial reporting framework that has been applted in their preparation is appIab law and United Kingdom Accounting Standards, including Financial Rwrtirg Standard 102 The Financial Reportin9 Standard applicable in the UK and Republ of IrelarKI' (Unrted lQn9Jrxn GerAc¢epted Accounting Prxti). In our opinion the finanrial sLements.. give a twe and fwr Mew of the stale of the dwrilable compan$ affairs as at 31 December 2021 and of rts incomirKJ resources and appltsbrM of resources, induding its income and expendituro for the year then ended., have been propedy prepared in accordanee ith Uned Kingdom Generally Accepted Accounting Praelic8'. and have been Prepared in accordance with the requirements ofthe Compan$ Act 2006. Basis for oplnlo We conducted our audit in accordance with Inlematronal Standard5 on Audrting (UK) (ISAS IUKI) and applicable law. Our respOnSlIleS under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of Ouf report. We are independent of the charitable company in accordance with the ethical requirements that are rebvant to our audit of the financial statements in the United Kingdom, in¢ludiThJ the Finanual Reportlng Counul'$ EthKal Standard, and we have fu111ed our other ethical responsibilit$ in accordan¢e with these wuirements. We belwe that the audit ewdence we have ¢)blained is sufficient and approprie to provKle a basis for our o&inion. Con¢luslons relating to golng Concern In auditing the financi slalemenls. have concluded that the Twstees. use of the going concem basis of accounting in the preparation of the finanaal sLemenls i8 appropriate. Based on the work we have perfOrnd. we have rnt identffied any material uncertainties relating to events or condrtions that, indMduaI or colleclivety, may cast srgnfficant doubl on the charitable cornpanls ability lo continue as a going concem a perj of ai least Iwdve months from when th8 statements are aulhorised for issue. Our responstjilrties and the responsthlit*s of the Tnjstees with respect to go#ig concern are described in the relevant sections of this report. Paye11 Griffin Stone M05crop & Co
O¢¢uSgh Envdope ID.. 07405A81%511F497A-A3EUE4335)1C939 ASSOCIATION OF BRITISH NEUROLOGISTS IA company Ilmlted by guarnnlee INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS (CONTINUED) Other Infornialion The other infomialion wnprises the informatk)n included in the annual report other than the financial statements and our auditors. report thereon. The Trustees are respolb fc the other infom)alion contained within the annual report. Our opinion on the ffinancial statements does not cover the other infomialion and, except to the extent olherwse explicitty slated in our report, we do not express any fom of assuranee conclusion Ihereon. Our responsibility IS to read the other informatton and. in doing so. conshler whether the other infomialion is materially inconsistent wlh the financid staternenls OT I[ knthyledge obtained in the course of the audit, or otherwise appears to be malervalty mi5stsled. If we Klentify such material inconsislenctes or apparent materkgl misstalemenls. we are required lo deternine whether this gwes rise to a material misstatement in the financial statements themselves. If, based on the work we have perfornied. we con¢lud8 that there is a material misstalemenl of this other information, we are required to report that fact We have nothing to report in this ragard. Opinion on ¢ther matter4 pr•scribed by the Companies Act 2006 In our opinion. based on the work undertaken in the coutse of the aJit.. the infonnation given in the TTLte8S, reF for" the ffinanual >ear for whKh the financial statentS are prepared is consistent with the finanoal statements. the Trustees, report has been prepared accordance with applicl818gal requirements. Matters on which we are requlred to r•port by ex¢ept•on In the Ih1 of our knowkdge and understanding of the tharItab company ils envronment obtained in the coutse of the audrt. we have not iderrttfied materiat misslalemenls in the TNstee8' report. We have rthing lo report in SpeCt of the foltrMng matt5 in relan lo which Companies Act 2006 requires us to report to you rf. in our opin•Jn= adequate accounting records have not been W or retums &Jequate for our audit have not been received from branche5 not visited by us", or the financial statements are not in agreement t*4th the accounting records and retums: or tertain disclosures of TnJslees' remuneiatK)n specified by I are nol made.. or we have not receNed am Ihe infomption and explanations we require for our au(tsl" or the Trustees nol entitw to prepare the financial staternts in aordanCe wrth the Small companies regime and lak& advantage of the small compantes. extyKins in preparing the Trustees, report and from the requirement to prepare a Strategic rewrL P4e 12 Griffin Str)ne Moscrop& Co
DocuSv4n EnvelopE D.. D74D5p1flF497M3E43350qc93g ASSOCIAnoN OF BRITISH NEUROLOGISTS (A company Ilmlted by guaranteel INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS (CONTINUED) Responsibllttles of Inte0$ As explained more fulty in the trustees. responsibilities statement, the TnJstees {who are also the directors of the charitable company fof the purposes of company lawl are responsible for the prgparalion of the financial slalements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees delemine is necessary to enab the preparatTh of finaKial slateff*nts Ihal are freg from material misstatement. whether due lo fraud or error. In preparing the finan¢k41 slatemenls, the Truslees are responsib for assessing the charitable companls abilty to continue as a gtyng ¢oncem, disdosing. as applicable. matters related to gn9 cor+cem and using the going concem basis of &¢ounling unless the Trustees erther intend to Irtiuidate the chalilable comparry or lo cease oper81i¢)ns, or have no redists"e 8ttemative but to do so. Page13 Cyiffin Stone Moscrop & Co
Do¢sj En¥ekiFe ID.. D74Dwl1F497A-A3EWE433501c939 ASSOCIATION OF BRMSH NEUROLOGISTS IA company Ilmited by guarantee) INDEPENDENT AUDITORS. REPORT TO ThE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS (CONTINUED) Audllors, rosponslbllltles for the audlt of the financial statements Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and to issue an audilors. report that includes our opinion. Reasonable assurance is a hyh levd of assUnce. but is not a guarantee that an audit conducted in accordance wtth ISAS {UKI will aw detecl a matenal misstatement when it exists. Misslalements Can arise from fraud or errof and are considered material rf. indNidualty or in the aggregate. they wuld reasonably be expected to infiuence the ewrKynic deosions of users tsken on the basis of these financial statements. Irregularities. including fraud. are Instan of non<omplrance with laws arKI reguktions. We desyn procedures in line with our responsibilitses. outlined ve. to detect Materi misslaterrEnts in re5pe¢l of irregularities. including fraud. The exient to which our procejjures are capab]e of detecting irregularrties. in¢lLKlin9 fraud is detailed bekJv'. Enquiry of management and those charged wrth governance. Reviewing financial ststemenl disclosu5 and leslin9 to Supporting documenlab'on to assess compliance. Perfomiing audit work over the risk of management override of controls. including lesling of joumal entries and other adjuslmenls fof apprOprtene$S. evaluatsng the business rat)na of significant transactions outside the nomial course of business and rewtrwing accounling estimales for bias. As part of an audit w) accordarKe with ISAS (UK), we exeruse professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of materi4 misstateffent of the financial ststements. whglher due to fraud or error. desyn and perfonn audit procedure5 resFK)nsive to those risks, and obtain audit evidence that is SLfficiont and appropriate to prowde a basis for our opinN?n. The risk of not detecting a malenal mis5tstemenl resulting from Iraud is htqher than for one results'ng from error. as fraud fflay invofve collusion, forgery. inlenl)nal omissvjns. misrepresentalw)ns. or the override of inlemal control. Obtain an undetstanding of inlemal control relevant to Ihe audit in order lo design audit procedures that are appropriate in the urcumstances, not for the purpose of expressing an cyinn of the effectiveness of the charitable companls inlemal conlrd. Evalue the approwiateness of a¢unting wlicies used aThl the reasonableness of accountin9 estsmates and lated disclosures made by the Trustees. Conclude on the appropriateness of the Trustees. use of the going concern basis of &counting and, based on Ihe audit evidence obtsirted. whether a matwial uncertainty exists related lo events or conditions thal may cast signrficanl doubt on the Chartsb companls abilty lo continue as a going concem. If we conclude Ihat a material uncertainty exists. we are required to draw attentn in OLEr auditors. report to the related disclosures in the financial statements or, rf such discbsures are inadeque, to modfy our ownion. Our ¢on¢lusions are based on the audrt evidence obtained up to thg de of our auditors, report. However. fLrture events or conditions may cause the charrtable company lo cease to continue as a going cOnrn. Evaluate the ovefall presentation, structure and Content of the financ1 statements, including the disclosures. and vthelher the financial slalernenls represent thè undedw'rkg transactions and events in a manner that achieves fair psentation. We Cmmun8te 7Mth those charged wth govemance regarding. On9 other matters. the planned scope and timing of the audrt arKI Signrfieanl audrt findings. MWudirvJ any signffieant deficieneiès in intemal control that we rdenlty during our au¢tht. Page 14 GrifFin stone tkncrop &Co
DocuSKJn Enyelcoe ID.. D74D&48l1F497A-A3E43lc939 ASSOCIATION OF BRMSH NEUROLOGISTS (A eompany limited by 9uararteèl INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS {COKtINUEO) Use of our report This report is made solely to the charrtable compan$ members, as a body, in a¢cordance with Chapter 3 of Part 16 of the Companies A¢t 20(. Our audit worf( has been undertaken so th we might state to the charitable company's members those matters we a required to state to them.in an auditors, report and for no other purpose. To the fullest extent pernrtted by I. we do nol acLept or assume responsibility lo anyone other than the charitable company and rts members. as a boty. for our audit work, for this report, or for the opinions we have formed. Re•ma Mistry ACA {senior ststutory auditOTI ft)r and on behalf of Grilfin Stone Moscrop & Co Chartgred Accountants & Statuiory Audbtors 21-27 Lamb's Conduit Street London. WC1 N 3GS 24 May 2022 Page 15 Griffin Stone Moscfop & Co
OowSkJn EnvelDFe10.. 07405AsI1F497A-A3EuE4335DIcg39 ASSOCIAMON OF BRMSH NEUROLOGISTS IA company Ilmited by guarantee) STATEMENT OF FINANCIAL AcnvrriES IINCORPORAMNG INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestrlcted funds 2021 Restricted funds 2021 Totsl funds 2021 Tol81 .funds 2020 Incorne frorn: Oonations and lega¢ie5 Charitable activities Other trading actimties Investments 120.000 608.361 16.461 39.488 120.000 696.134 16N61 39A88 96,840 649.611 15.228 299 87,T13 Tolal Income 784.310 87.773 872.083 761.978 Expenditure on: Raising funds Charrtable activ"eS 29.493 564,352 29,493 677372 23.852 588.436 111920 Total expendIre $93.84S 112.920 706,765 612.288 Net gainslllosses) on investr£nts 104.064 104.064 1104,3011 Nel movement In funds 294.529 125.1471 269.382 45,389 Reconciliation of funds: Total lunds brought ftmward Net movement in funds 1.080.975 294.529 342.178 125.147 1,423.153 269.382 1.377,764 45,389 Total funds carrled forward 1.375.504 317.031 1.692.535 1.423,153 The notes on page$ 20 to 41 fomi pwt of Ihese fthancial statements. Page 16 ffin Stone Moscrop & Co
Do¢uSKJn Envelope ID.. O74D5A817497A-A3E4E4J3501C939 ASSOCIATION OF BRMSH NEUROLOGISTS (A company limited by guardnlee) REGISTERED NUM8ER: 03816842 BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Flxed assets Intangible assets Tangible assets Inveslmenls 13 14 15 3.600 4.289 704.580 12.204 1242,361 1257,565 712.469 Current assets Stocks Debtors . Cash al bank and in hand 16 17 4,062 339.n4 470,200 570,835 7916 1.041,035 Creditors.. amounts falling due wtthin C 18 (356,590) {329.341) Net curront assets 711.694 Total a$$ets less current Ilabllllles 1,692.871 1,424.163 Creditors: amounts fallirvj due after more than one year 19 1336 (1.0101 T¢>tal net assets 1.692.535 1.423,153 Charity funds Restricted funds untricted funds 21 21 317.031 1.375.S04 342,178 1.080,975 Total funds 1.692,535 1,423.153 Page 17 ffin Stone M05crop& Co
DoEuSigh En¥dope ID.. D74DSA8lS11F497A43EB43350Ic539 ASSOCIATION OF 8RITISH NEUROLOGISTS (A company limited by guarantee BALANCE SHEET {CONTINUED) AS AT 31 DECEMBER 2021 The Truslees ackntrwledge their responsibilities for compl"ng with the reqUIrenIS of the Act with respect lo accounting records and prepafabon of financ1 statements. The financial slatemenls have been preparèj in fice with the provisions applicable lo enlilw subject lo the small Compan regime. The financial slalements were approved arKI aUthIsed for issue by the Trustee5 on 19 May 2022 and signgd on their behalf by.. Professor T. T. Wamer President Professor N. P. Robertson Honorary Treasurer The notes on p4es 20 to 41 fomi part of Ihese financial sL*nts. Page 18 ffin Stone M05crop & Co
DotuS9n ErtFe ID.. D74DsA8(Sl1F4g7A-A3É84E4j3Solc939 ASSOCIATION OF BRtnsH NEUROLOGISTS IA company limiled by guarantee) STATEMENT OF CASH FLOWS" FOR THE YEAR ENDEO 31 OECEM8ER 2021 2021 2020 Cash Ilows from opefallng actlvitles Net cash used in opefating actNities (see Note 23) 283.037 43.070 Cash flows from investJng activities Diwdends, inte$1$ and rents from investrnents Purchase of tangible fixed assels Purthase of investments 39,488 {11.5831 1433,7171 299 11.8051 Net $h used in investing activiti•s 1405.8121 11,5061 Cash flows from financing a¢tivltl95 Net cash provided by flnanclng athities Change ln cash and cash equlvalonts in the y•ar Ca$h and cash equNalonts al the beginning of tho year (122,775 570,835 41,$64 529,271 Cash and ush equlvalgnts at the end of the year ($99 Note 241 448.060 570.835 The notes on pages 20 to 41 fomi port ofthese financial $tsteff*nts Page 19 ffin Stone Moscrop& Co
OovJSv4n En¥dope10: D74D&4a0-511F4973EB4E4335o1C93g ASSOCIATION OF BRMSH NEUROLOGISTS IA company Ilmlted by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 General information The Association is a company limited by guarantee and is registered as a charity with the Charity Commission of England and Wales. The members of the eompany are the Iruslees named on page 1. In the event of the Association being wound up, the Irabilty in respect of the guarantee is limited to a maximum of £1 per merthr of Ihe Association. The financial statements are prepared in sterling and are rounded to the r1 £1. Accounting policie5 2.1 Basis of preparation of financial sLemènts The financ statements have been prepared in accordance with the Charities SORP IFRS 1021- A¢¢ounting and Reporting by Charrties.. Statement of Recommended Practice applicable lo charilres preparing Ih8ir accounts in awordance the Financial Reporting Stsndard applicablg in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191. the Financial Reporting Standard applicable in the UK and RepublTC of Ireland IFRS 102) and the Companies Act 20(. Association of Brilish NeUrOlJ1$ts meets the definition of a public benefft enlity under FRS 102. Asse15 and liabili(ies a inrtity recognised at historical cost or transaction value unless othewise ststed in the rdevanl &cwnb"ng 22 Fund accountlng General fvnds are unrestricted funds are wailable for use at the discreti¢)n of the Trustees in furtherance of the general otiiectives of the AssociKm and whth have not been desvJnated for other purF)ses. The revaluation reseNe is a reqU1ment of the Companies Ad 2006 and represents the amount by which the book valuè of the Association's investment exceeds rts historie Cost. See Note 28 for additional anatysis. Restrted funds are funds which are lo be used in accordance wilh specffic reslriclions imposed by donors or whh have been raised by the AssLxh*ion for partlar purposes. The costs of raising and administering suth funds are charged against the specffic fvnd. The aim and use of each restricted is set out in the rtotes to the financial statentS. Investmenl income, gains and losses are alocated to Ihe appropriate fund. 2.3 Going ry)ncern The trustees consider there are M malerial uncertainties ab(yJl the compa5 abilty lo continue as a going concem. 2.4 In¢om• All income resources. induding investment Ire and sponsorship donations, a included in Ihe statement of financial adivrties, before deductKJn of the associated expendrture. when the ASSClation has enlitlemenl to the income, rrt is probable that the income wdl be received and the amount of irKome receivable can be rrSured reliably. Page 20 Grifffin Stone Moscrop & Co
DouJSbJn Envdopelo.. D74D&484>511F497AA3EE433llC93g ASSOCIATION OF BRITISH NEUROLOGISTS IA company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng policies {contlnuedl 2ts EXnditre Expenditure is recognised once there 15 a legal OT constructive obligalK)n lo transfer economic benefrt to a third party, rt 15 probable that a transfer of economic beneffts will be required in settlement and thg amount ol the atIOn can be nwsured retthly. All fjxpendrture is a¢Unted for an accruals basis. Support costs aro alo¢ed befvleen $1S of generating voluntsry inwne and costs of charitable actiwhes on a basis consistent wlh th& estimated lime spent by the AssociatK•n's empknyees wi>rking in Ihese drfferent areas. Expenditure on charitable &tbVits is inewred ¢)n direraty undèrtating the activities which further the Asscciat1's obiectsves. as well as any asSCtHted supp)rt costs. Grants payable are charged in the year when the ¢)ffer made except in those cases where the offer is condbttonal. such grants beirg recognisgd as expenditure when the conditions 0tta¢hing are fulfilted. Grants offered sut4.ect to conditions wthich have not been met at the year erKI are noted as a mitmenl, but not accrued as exgenditure. 2.6 Interest receivable Interest on funds held ¢)n deprt is tyuded when recewable and the amount can be measured reliably by the Assoaation,. this is normal upon ncrtifvtK>n of the interest paid or payabte by the institution 0M the funds are deposrted. 2.7 Foreign curvencies Monetary assets and liabilit denominaled in foTepJn currenaes are translated into sterfing * rates of exchange ruling * Ihe repL*(ing date. Transactions in foreign currerKies are translated into sterting at th8 rate ruling on the dale of the Iransaclion. Exchange gains and Iwes are recognise(l in the statement of finarKial activrties. 2.8 Pensions The Association operales a defined contribution p¢n$ion scheme. Payments, whh are a fixed percentage of each empbyee's gross salary, are taken into xcount in the period which they relate. 2.9 Taxation The ASsocialn is considered to pass the lesls set out in Paragraph 1 Schedule 6 of thè Finance Act 2010 and therefore il meets the definitn of a charitabk cnpanY for UK eoTporation tax puiposes. rdingly, the Assocration is Frf)tentitY exempt Irom laxation in respect of income or capital gains received wrthin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Char9eable Gains Act 1992. to the extent that such income or gains are
plied ex¢lusNety lo chantable purpose5. Irr0ver¥b value added tax IVAf) is induded in the cost of those items to which rt relates. Page 21 Grrffin Stone mOrOP & Co
Docusigrs En%h)Fe10.. 074D5PSlIF497KK8&84É43fjOyC939 ASSOCIATION OF BRITISH NEUROLOGISTS (A company limited by guarantee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 c¢wn¢ing policies {contInu) 2.10 Tangible fixed assets and depTr¢ialion Tangible fixed asset$ costing £500 or more are capitalised and recognised when fulure econom benefits are probable and the cost or walue ofthe asset can be measured reliabty. Intangle and tsngibFe fixed assets. exduding those langibye fixed assels hekl under finance leases, are stsled al cost less depreciat ary wowsion for imp&rment. Depreciation is charged so as lo alktate the cost of tan9ts fixed assets less their residual vae over their estimatgj useful INes. on the fikn.ng basis: Short sehold propety Office fumiture. frttings and equipment Computer equipment Intangible ffixed assel Over the perd of the lease 20% on the $lfawJhl line basis 33% on the stiaighl line basis 5% on the Strah1 line basis 2.11 Investments Fixed asset investment5 are a form of instrument and are inibalty rec(>Jnised al their tranSactn cost and subsequenUy measufed at fair value at the balance sheet d*e. unle5S the value cannot be measured reliabty in whh case it is measured al cost les5 impaiment. Investrnenl gains and losses. whether reali5ed or unrealised, are combined and presented as 'GainsllLossesl on investments, in the statement of financial actsvities. 2.12 Stocks Slocks are valued at tr lTher of cost and net realisable value after making due allowance for obsolete and sh•movIng stocks. Cosl includes all direct costs. 2.13 Debtors Trade arKI ¢fv debtor5 are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade di8counls due. 2.14 Cash al bank and In hand Cash at bank and in hand includes cash and $Irt4ern hhlY IUld investments with a short maturty of three months or les$ from the date of acquisth.on or opening of the deposit or similar account. Page 22 ffin Stone M05crop & Co
DotxJSW En¥elope .. D74D5p1TlF457AA3E4335otc939 ASSOCIATION OF 8RrrisH NEUROLOGISTS IA company limited by guarantee) NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounting pollcles {¢ontlnuedl 2.15 Llabllllles and provlslons Liabilities are recogni%ed when there i£ an obligthon * the balar sheet date as a resuw of a past event. it is probable that a transfer of econ¢)mic benefft will be required i) settlement. and the amoljnl of the settlement can be estrnated relthty. Liabilities are recognised at the amount that the Association anlicipales il will pay lo settle the debt or the amount it has received as advanced payments ts the goods or services il rnusl provKIe. Provisions are measured at the best estimale of the amounts required to settle the obligion. 2.16 Flnance leases Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. As5els acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depClated over their useful INe5. Finance leases are those where Substantial 1 of the benefi15 and risks of ownership afe assumed by the Association. OblvJalions under such agreements are induded in credbtors. nel of the finance charge allocated to futu period5. The finance efemenl of the rental payment is charged lo the slalemenl of finanal actm1$ so as lo prU¢e a constant per rate of eharge on the net obligalKn outstanding in each period. 2.170perating l•ases Rentals paid under oper*ing leases are Charged to the statement of financial tItieS on a 5traighl line basis over the lease temi. 2.18 Financlal Instruments The Associalion only has finanei81 assets and financial liabilitres of a kind that qualify as basic financial in$trument5. Basic finanual instruments are Initial recognised at transaction value and subsequenlty measured al their setilemenl value with the exception of bank b)ans which are subsequenlty measured al amortised using the effectNe inleresl method. Page 23 cffin Stone Mosuop & Co
r)cuSKJn Enveleye ID.. D7405A8S1lF497A3E433j1c939 ASSOCIAnON OF BRITISH NEUROLOGISTS IA Company Ilmited by gu•ranteo NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 . Income from donations and l•gaci8s UnrestrTcted funds 2021 Total funds 2021 Total funds 2020 Sponsotship donation5 120,000 120.000 96.840 Total 2020 96.840 96.840 Incomè from charllable activities Unrèstricted Restricted lunds fund$ 2021 2021 Total funds 2021 Meetings income Annual subscriplions SFecial Certificate ExaminalK)n incow Clinical Research Training Fdltrwship Practical Neurology inc(Nne 223.114 266.151 34,054 223,114 266.151 34.054 87.773 85.042 87,773 8S.042 Total 2021 608,361 87,773 696.134 Meetings income comprises dewes fees. sponsorship and room hire. and hire of exhibrtion space. Unrestwided funds 2020 Restricted funds 2020 Totsl fvnds 2020 Meetings income Annual subscriptKx Special Certificate ExarninalJn income Clinieal Research Training Felowship Practical Neurology incorne 217.328 255.668 40.806 217,328 255,668 40,806 75,913 59,897 75,913 59,897 Total 2020 573.699 75,913 649.612 Page 24 cffin Stone Moscrop & Co
DOsj Envelope ID.. D74D5s1lF497A-A3WE4335Olc93s ASSOCIATION OF BRMSH NEUROLOGISTS {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Incorne from other trading actlvltle5 Income from fundraising events Unrestricted funds 2021 Total funds 2021 Total fvnds 2020 Hire and sthlel of office space RaDar income 15.576 350 15.576 350 15.228 Total 2021 15.926 15.926 1 5.228 Total 2020 15.228 15,228 Income from non ¢harttablo trading actfvlti8s Unrestricted funds 20 Total lunds 2021 Total funds 2020 Sales of merchandise 535 535 Invostment inc¢)mg Unr•stricted fvnds 2021 Total funds 2021 Total funds 2020 Inc(yno from Ial listed investments Gross interest received on bank deposits 39,426 62 39,426 62 299 39,488 39.488 299 Page 25 ffin Stone Moscrop& Co
Do¢AJSHJn Envekipe ID.. D7405AW11F497M3E84E43350JC939 ASSOCIATION OF BRMSH NEUROLOGISTS (A Company limited ty guarantee) NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Expenditurn on raising funds Fundraising trading expenses Unrestrl¢tsd fvnds 20 Total funds 2021 Total funds 2020 located centralty incurred supwt costs 28.719 2B.719 23,852 Ixher tradlng expens Unrestricted funds Total tunds 2021 Total fvnds 2020 Cost of merchandise sold 774 774 Analysls of resources expended on charitable acllvltles Grant fvndlng (Note 9 2021 Support costs 2021 Total funds 2021 2021 Charitable a¢tMties Grants payable to institution$ Grants payable to indmduals 222.072 112.920 330.273 665.268 865 11,142 11,142 222.072 124,927 330.273 677,272 Page 26 Griffin Stone Moscrop& Co
Enk)Fe ID.. D74DSA8fy51 IF4973Ee433501c93g ASSOCIATION OF BRITISH NEUROLOGISTS (A company Ilmlted ty guarantee} P40TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Anatysls of resources expended on charitable actlvltles (Continued Grarbl furIng (Note 91 2020 Support costs Total funds 2020 Direct costs 2020 2020 Charitsble activit 193.207 121.197 274,031 588,435 An•tysi8 of dlrect costs Total lunds 2021 Totsl fvnds 2020 Meetings expenditure Meetings consultancy General and committee meeting expen$8s Chade5 SyTnonds Prize Edueatmal support Professional Subript¥ Practical Neurclogy subscription Specialty CertTrfKate Examin*ion eypenditure 116,016 45,600 1,215 1,100 (4,1001 6.836 66,638 44,040 3,591 600 3.263 8.075 40.OIXI 27,000 15.405 222.072 193.207 Meetings expenditure indudes delegates costs. instalLqtion and stowe of dk%play equiwwnl. bcd(s. programmes elc. IrKluded above in EdUcatKaI sUPPOrt is £5,{ warthng a refund ofa 8utsary for Rxhel MG4ughtree. Analysls of support costs Page 27 Griffin Stone MDscrop & Co
Dovjslgfi En¥dope ID.. o740(511F497m3EB-8E43350lCgjg ASSOCIATION OF BRITISH NEUROLOGISTS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysis of rnsourw expended on chaiitable activiliès (continued) Analysis of support costs (continu> Total fund$ 2021 Total funds 2020 Staff costs Office rent. rates and service charg8s Consultancy fees Office running expenses Legal and professional Website Computer costs Fellowship support costs Staff training Audrt an¢J accountsncy Loss on disposaLs oftangible fred asset 8ank charges Finance lease Charges Los5 on foreign exchange Legal and professional Sundry expenses Reallocated lo fvndraising costs 201.310 60.234 26.295 11.448 16.996 15.427 6.128 3,239 570 6,856 183,649 58.857 12,904 7,085 15,502 3.216 1.216 199 6,300 3,S15 279 3,429 209 447 3,478 1,392 123,852} 4.266 2,426 128.7191 330.273 274,031 Total support costs for the year end 31 t)ecember 2021 amounted lo £358.992 (2020 - £297,883) bèfore re-allocations. Of the total costs 8% {2020- 8%) has been appOrt)ned lo expenditure on raising funds INole 71. P4e 28 Griffin Stone roP & Co
DOrSn En%lope ID.. D74D5As9IF497A1E4335oIc939 ASSOCIATION OF BRITISH NEUROLOGISTS IA company Ilmlted by guaranke) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Anatysis of grants Grants to Grants to Institutions Indlviduals 2021 2021 Total funds 2021 Clinical Research TTainirwJ Fellowship UEMS Section of Neurohjgy Cairo Teaching Cenlfe Fellrywship 112.920 112,920 864 11.142 11.142 124.062 124.928 Grants lo IndivK4ua15 2020 Total funds 2020 Clinical Research Training Felbjwship 121.197 121,197 Giants to indivlduals Clinical Research Tralning Felloship grants: Prowde support to students who want to study an aspect ol dinul neuroscience and obtain a MD or PhD degree. During 2021, grants were pabJ to 4 IlivlUa1$ {2020 - 3}. In 2021, of the totsl grants paid £NIL12020 - £NIL) was to unrestricted funds and £112,92012020 - £121.197) was to restrided furKI$. Calro Teachlng Centre Fellov•shlp gvants.. a contnbutK•n to the Wodd Federation of Neurologvs 'Teaching Centre Neurc4)gy Fdlchvship, in Cwro where a felhx in a l¢ywer irKome country Is supported th training. During 2021, grants were paid to 2 Ir¥JpdUals. In 221. of the total grants paHI £11.142 was to unrestricted funds and £NIL was to reslricted funds. 10. Audtt¢xs' remuneration The auditors. remuneration amrts to an auditor fee of £2.774 R020- £2.720), accountancy fees of £4.082 {2020- £3.580). Page 29 &iffin Stone M05crop & Co
Do¢uSvJn En¥*Jpe10.. 071D5511F497A3WE4335OIc939 ASSOCIATION OF BRITISH NEUROLOGISTS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11. Staff costs 2021 2020 Wages and salar$ Social securty StS Contn"buthin to defined contribution pension xheme5 173,112 12.073 16.125 157.221 10.707 15.722 201.310 183.650 The average number of persons employed by IheAssctiation during the ygar was as fcAbws." 2021 No. 2020 No. FulHi The number of empbyees whose emFAoyee benefits (excluding employer pensicffi costs) eeded £60.Q)O was." 2021 2020 In the barKI £60.1)01- £70.1 In the barbd £70,001 - £80.000 Remunerat& and benefits received ty key management personD81. being 2 indivxluals, was £88.395 12020- 1 indivKJual. £78.7731, induding enwloyer nattonal insurance and pensron contribution costs. 11 Trustees. r•muneratlon and expènrAs During the year. no Trustees receNed any femuneration or (ther bgnefrts {2020- £NIL). During the year ended 31 Decwthr 2021. expenses tolallirwJ £111 V•ere reimbursed or paid directly to 1 Trustee {2020- £846 10 6 Trustees). Trustees are reimbursed necessarly-incurrwj expenses. These are included in the appropriate caegory of resources expended. Paye 30 Griffin Stone Moscrop & Co
OorxJStrJn Envdope ID.. D74D5As11F4S7A-?E&8E411501CWa9 ASSOCIATION OF BRMSH NEUROLOGISTS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2021 13. Intsngible assets Co•t ol amls Cost Al 1 January2021 12.000 At 31 Deeember 2021 12.000 Amort¢satlon At 1 January 2021 Charge for the year 8,400 600 At 31 December 2021 9,000 Net book value At 31 December 2021 3,000 At 31 December 2020 3.600 Page 31 Griffin Stone Moscrop & Co
DoDJSlgn En¥dope ID: D740&451lF497A3e433s01c939 ASSOCIATION OF BRMSH NEUROLOGISTS IA company Ilmited by guarnntso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Tangible fixed assets Short4erm beasehold Fixtures and property rfftings Computer equlpment Total C1>5t or valuation At 1 January 2021 Additions Disposals 19,891 27.338 5,482 11,583 52,711 11,583 19931 (993) Al 31 December 2021 19.891 17.085 63,301 Oepreciation At 1 January 2021 Charge fof the year On disposals 19.890 23.691 1.828 1991) 4.841 1.838 48.422 3.666 19911 At 31 December 2021 19,890 24,528 6.679 51.097 Net book valu• At 31 December2021 1,817 10,386 12,204 At 31 Decembgr 2020 3,647 641 4.289 The nel book value of assets held uThkr finance leases or hire purchase contract5 included above are as foll¢)ws= Fixtures and fittings.. £673 {2020- £1.346) Page 32 &iffin Stone M05crop& Co
Do¢uSign En¥elope ID.. D740S48fh511F497KA3EUE43&fj01C939 ASSOCIATION OF BRMSH NEUROLOGISTS IA company 1wni1 by guaranteè} NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2021 15. Fixed asset investments Listed investments Cost or valuatton At 1 January 2021 AdditirMs Revaluations 704.680 433.717 104.064 At 31 t)ecember 2021 1.242,361 Net book value At 31 December 2021 1,242.361 At 31 Decener 2020 704,580 Malorfal Invostment At 31 December 2021 the above market value conyrised of 2.8¥2 accumulation units in M&G's 'The equity investment for charities {Charilund}, 335.7 income units in M&G's charrty mulli asset fund and 10.451 accumulation units in COIF'S charrties fixed Énterest fund. {2020 - 2,892 accumulation units in M&G'S'The Equty Inveslment FuThJ for charrt Ichaiilund).? Historul cost £583.71512020- £150.000). 16. Stocks 2021 2020 Finished gc*)ds and gcods for rwsale 4,062 Page 33 &ifffin Stone Moscrop & Co
DO$(gn Envetr)pe ID.. D74DS48m11F497A-A3EE433SOlC939 ASSOCIATION OF BRITISH NEUROLOGISTS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. Debtors 2021 2020 Due within one year Arrears of Subscriptions Othei debtors Prepayments and accnjed ineome Sponsorship incorne receivable 3.771 98.489 237,514 3,S49 79,417 287,457 99.777 339,774 470,200 18. Credltors: Amounts falllng due withln one year 2021 2020 Other laxalion and sorAal security Net obligations urKler finance kases Pension fund pay18 other creditors C5 and d8feTred income 3,876 673 716 79 673 1.090 33,757 293.742 54,747 2%,578 356.59LI 329.341 The above inc1L¢S deferred income of £114.777 12020 - £126,156) relating lo annual subscripts.ons received in advance whh may be anatysed as frAIows'.- 2021 2020 Deferred incomg al 1 January 2021 Amount deferred during the JEar Amounts leaSed to incorrung resources 126,1S6 123,898 114,7TI 126,156 (126.156} 1123,8981 114.777 126,156 19. Credltors: Amounts falling due after more than one y&¥ 2021 2020 Net obligali¢)ns under finarKe lease5 336 1.010 Page 34 iffin Stone Moscrop & Co
Dopjsty Erwdope ID.. 074D5A8SllF4973E43w1lc939 ASSOCIATION OF BRITISH NEUROLOGISTS IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 20. Financial instruments 2021 2020 Financial assets Financial assets measurgj at fair value through inwrTE arKI expertditure 570.835 Financial assets measured at fair value through the Statement of Financial ActNilies ccKnprise of cash at bank and in hand. Page 35 Griffin Stone Moscrop &Co
DOs Énvelope ID.. D74D&4aty511F497AA3WE4339J1C939 ASSOCIATION OF BRMSH NEUROLOGISTS IA mPanY limrted by guarantse} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 21. Statement ol funds Statement of funds. ¢urr•n¢ y•ar Balance at 31 GaIn D•cember {Losses) 2021 Balance at 1 January 2021 Income Expendithre Unrestrieted funds General Funds Revaluation reserve S26.395 784.310 (593.845} 716,860 658,644 104,064 1.080.975 784,310 (593.845} 104,064 1,375,504 Restrithd funds Clintcal Research Training Fellowship Roger Bannister Felhjwship 326,435 15.743 87,773 (112,920) 301.288 1S.743 342.178 87.773 1112.9201 317.031 Total of funds 1,423.153 872.083 1706.765) 104.064 1,692.535 Cllnlcal ReSeah Trainin9 Fellowship fund The ClinKal Research Training Fellowship fund (CRTFI is a restricted fund lo support trainees who want lo study an aspect of dinical neurosaence in depth for three or four years and obtain an MD or Pho degree. Support includes salary, unIvety fees. reasonable travel costs and laboratory consumables. The aim is to hokj unrestricted reser of approximately 1.25 times the annual opwaing costs. Resep4es above this figure may be tranSferd to the restrirAed reseNe for the CRTF fund. Roger Bannlster F•llowshlp The Roger BnIster fellrwship fund was introduced in 2018 in memory of SIT R¢>aer Bannister, athlete and neurologist, dd in 2018. tt 15 intended to create a speeific dinical research training fellowship in his honour. Page 36 ffin Stone Moscrop & Co
DorXjS Envelo Tr. D7405AAD-511F497A-A3WE433501C939 ASSOCIATION OF BRMSH NEUROLOGISTS (A company limlted by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIABER 2021 21. Stat•ffl8nt of lunds (continued) Statem•nt of funds- prior year Balance at 31 December 2020 Balance al 1 January 2020 Transfers inloul Gainsl (Losses) Income Expenditure Unrestricted funds General Funds Revaluation reseNe 531.420 (491.091) (200.¢)00) $26,395 658.881 1104,3011 554.580 1.190.301 (491.091} {200.000} (104.301} 1.080.975 Restricted funds Clinieal Research Training Fellowship Roger Bannister Feuowship 171.719 75.913 (121.197) 200,000 326.435 15,743 15,743 187.462 75.913 (121.19n 200.000 342,178 Total of funds 1.377.763 75.913 {612.2881 1104,301} 1.423,153 Page 37 cffin Stone Moscrop& Co
Dowslgn Envek)w IO". D74DW511F497A-A3EUE433501C939 ASSOCIATION OF BRITISH NEUROLOGISTS IA company lImft by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 22. Summary offvnds Summary of funds- current year Balance at 31 Galnsl December (Losses) 2021 Balance at 1 January 2021 Inc4Jme Expendlture General funds Restricted fvnds 1,080.975 342.178 784,310 87.773 (593,845) 1112.9201 104,064 1,375.504 317.031 1.423.153 872.083 1706.7651 104.064 1,692.535 Summary of lund$- prioryear Balanee al 31 December 2020 Baanee at 1 January 2020 Transfer5 wVout Gainsl (Losses) Inc(xne ExperKlrture General funds Restncted fvnds 1.190.301 187.462 {491.0911 (121,19n (2.000) 200,000 (104,301) 1.080.975 342,178 75.913 1.377,763 761.979 (612.288) 1104.301) 1,423,153 23. Anofysls of net assets bet*wn fvnds Analysls of net assets belween funds- current year Unrestricted Restrlcted funds fvnds 2021 2021 Totsl funds 2021 Tangible fixed assets Intangible fixed assets Fixed asset investments 12.204 12.204 1,242.361 1,242,361 275.161 516,735 791.896 {156,886) (199.704) {356.590) (336) (336) Current assets Credrtors due within one Creditors due in ff•3re than one Far Total 1.375,504 317.031 1,692,535 Page 38 &iffin Stone Moscrop& Co
Docusv E10 ID.. D74D5A8sl IF497M3E&8E4339)1C939 ASSOCIATION OF BRMSH NEUROLOGISTS (A company limited by guarnntsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 23. Analysis of net assets b8tween funds (contlnuedl Analysis of net assets between funds . prior year UnrestrKted Reslricled funds funds 2020 2020 Totsl funds 2020 Tangible fixed assets Intangible fixed assets . Fixed asset investments Current assets Credrtors due wthin one year Creditors due in more than one 4.289 3.600 704.580 547.498 (177.982) (1.010) 4,289 3,600 704,580 1,041,035 1329.341) 11.0101 493,537 1151.359) Total 1.080,975 342.178 1.423.153 Reconciliatlon of net movement in funds lo net Ilow fvom operating activities 2021 2020 Net incom& for the year {as per Statement of Financial Actiwtses) 269.382 4S.389 Adjustments for: Depreciation charges {Gains}I losses on investments DivJdeThJs, interests and Tents fr investnnts Decreasellin¢reasel in StkS De¢ase1(1ncrease1 in debtors In¢Teaselldecreasel in credito 4,267 1104.0641 139.4881 (4.0621 130.428 26.576 3.478 104,301 {2991 {42.8951 {66,905) Net cash provided by operaiing activfties 283.037 43.069 Page 39 Griffin Stone Moscrop&Co
DOS Envelope ITr. D7405A80-511F497KA3EWE433501C939 ASSOCIATION OF BRMSH NEUROLOGISTS IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 25. Anatysis of Cash and ush equivalents 2021 2020 Cash in hand 448,060 570.835 Total cash and ush oqulvalents 448,060 570.835 26. ' Anaty5is of change5 in n•t debt At31 D•cernbor 2021 January 2021 Cash flows Cash at bank and in hand Debt due within 1 year Fin leases 670.835 (1.0901 (1.6831 (122.7751 374 673 448.060 {716) 11,010) $68.062 (121.7281 446,334 Pension commitm•Thts The Association operates a defined contribution pension scheme. The assets of the scheme are held separately from those of Ihe AssocialK)n in an independentty administered fund. The pension cosl charge represents eonlributions payable by the AsscxiatHJn lo the fund and amounted to £716 (2020 - £1,090} payable to the fund at Ihe balan sheet date and are induded in ereAilors. Reconcillatlon of movements In unrealised gains on the investmont ass 2021 2020 Unrealised gains at 1 January Unrealssed gainl{1¢)sI on revaluation at 31 December 658.881 (104.3011 507.6 151,186 Unmllsed galns al 31 December 658.881 Page 40 Griffin Stone Moscrop&Co
Dowsw Envelope ID.. D74DW0ffj11F497m3EE433S01c>3S ASSOCIATION OF BRMSH NEUROLOGISTS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEM8ER 2021 Operatlng lease commitments Al 31 December 2021 the Association had commitments to make future minimum lease payments under nonvcancelLable operating leases as follows.. 2021 2020 Not later than 1 year Later than 1 yw arKI not later 5 years 32.250 32.250 32,250 64,500 64.500 96,750 R•latod party transactions Related parties include the charity trustees. close relatives and key management personnel. DOrlOn$ received during the year from related parties are noted bekyw.. 2021 2020 Donations received 42S 425 31. Material Incoming resources The major sources of material incoming resources are ccrtwthons aTrJ indmduals invofved w) the medical profession. Page 41 Griffin Stone Mosuop & Co