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2025-12-31-accounts

Registered number: 03816842 Charity number: 1077893

ASSOCIATION OF BRITISH NEUROLOGISTS (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

CONTENTS
Page
Reference and administrative details 1
Trustees' report 3
Independent auditors' report on the financial statements 12
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19

(A company limited by guarantee)

ASSOCIATION OF BRITISH NEUROLOGISTS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE ASSOCIATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

Trustees

Dr R.J. Davenport, President (to 9 May 2025) Professor N.P. Robertson, President (from 9 May 2025) Dr S.H. Eriksson², President Elect (from 9 May 2025) Dr B.R. Stanton, Honorary Secretary Dr R. Dobson, Honorary Secretary Elect (from 9 May 2025) Dr J. Rees, Honorary Treasurer Dr N. Giffin, Meetings Secretary (to 9 May 2025) Dr A. Johnston, Meetings Secretary (from 9 May 2025) Dr A. Batla, Chair of the Education Committee (from 1 November 2025) Professor E. Coulthard, Chair of the Research Committee (from 9 May 2025) Professor T. Griffith, Chair of the Research Committee (to 9 May 2025) Dr H. Grote, Chair of the Quality Committee (from 9 May 2025) Dr M. S. Jones, Chair of the Education Committee (to 31 October 2025) Dr A. Nitkunan, Chair of the Services Committee Dr. A Carr (from 9 May 2025) Dr. K. Farrell Professor S. Jacob (to 9 May 2025) Professor M. Lunn Dr A. T. Misbahuddin Dr G. Stewart Dr. S. Slaght (from 9 May 2025) Ms E. I. Baltay[1] (to 9 May 2025) Mr S. Croall[1] (from 9 May 2025 Mr A. Curl[1] (from 9 May 2025) Ms L. Evans[1] (from 9 May 2025) Lord S. Fink[1 ] (to 9 May 2025)

Council Members

All trustees listed above served as council members with the exception of lay trustees: Ms. E. I. Baltay, Lord S. Fink, Mr S. Croall, Mr A. Curl and Ms L. Evans. Dr A. Pereira, Chair of the Neurology SAC² Dr A. Khetarpal, Chair of the Association of British Neurologists Trainees (ABNT)[ 2] Dr Omar Mustafa, RCP Registrar[2 ]

1 Lay trustee

2 Non Voting Member

Page | 1

ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE ASSOCIATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

Company Registered number

03816842

Charity registered number

1077893

Registered office and principal operating office

Ormond House, 4[th] Floor 27 Boswell Street London, WC1N 3JZ

Company secretary

Miss F. Patel

Executive Director

Dr E. Linnemann

Independent Auditors

Goldwins Limited 75 Maygrove Road London NW6 2EG

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of the Association for the year 1 January 2025 to 31 December 2025. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Association qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Association was incorporated as a charitable company limited by guarantee and not having a share capital on 30 July 1999 and is a registered charity.

The Association is governed by its Memorandum and Articles of Association and by its Rules.

The principal objects of the Association are to promote education in, and the advancement of, the neurological sciences, including (without limitation) the practice of neurology in the United Kingdom and Ireland.

There have been no changes in the objectives since the last annual report.

Methods of appointment or election of Trustees

The management of the Association is ultimately the responsibility of the trustees who are appointed under the terms of the Articles of Association and the Rules.

Induction and training of Trustees

All trustees undergo an induction programme which is provided by the Executive Director. This details all the roles and responsibilities of the trustees of the Association.

Organisational structure and decision-making policies

The officers, being the President, the President Elect, the Honorary Secretary, the Honorary Secretary Elect, the Honorary Treasurer, the Honorary Treasurer Elect, the Meetings Secretary and the Meetings Secretary Elect, together with the elected councillors, are ex officio members of the trustee board of the Association. In addition to the ex officio members, the trustee board includes 3 lay members appointed by the board. The chairs of the Services Committee, the Education Committee, the Research Committee, the Quality Committee and the ABNT are non-voting members of the trustee board entitled to receive notice of all trustee meetings.

The trustee board and Council meet three times a year (February, June and October) when strategic decisions and business matters are discussed. Decisions are generally tabled for discussion at these

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

meetings and then, if need be, taken to the annual general meeting. Any urgent decisions are made by way of video conference call in which the officers of the Association participate weekly and council members monthly. Information is then disseminated to the trustees electronically to ensure a democratic approach is met.

The day-to-day management of the Association is delegated to Dr Emily Linnemann, the ABN's Executive Director.

Pay policy for key management personnel

Staff salaries are reviewed annually by the board of trustees and agreed.

Risk management

The trustees have assessed the major strategic, business and operational risks to which the Association is exposed, in particular those related to the operations and finances of the Association and are satisfied that systems and procedures are in place to monitor and control those risks in order to mitigate any impact they may have on the Association. A risk register is maintained and updated for council meeting at which time it will be reviewed and discussed in detail.

OBJECTIVES

Objectives

The ABN’s mission is to support neurologists to improve the lives of people with neurological disorders. We achieve this by connecting the neurological community, advocating for high-quality services and promoting excellence in education and research. By pursuing these aims, we ensure that the Association meets the Charity Commission’s public benefit criteria.

The principal aims and objectives of the Association are to:

Public benefit

In preparing this report, the trustees have considered the Charity Commission’s general guidance on public benefit.

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

2025 IN NUMBERS

STRATEGIC PRIORITIES AND THEIR IMPACT

ABN’s Priorities: CARE

Following a strategy day held in June 2025, the ABN Council agreed on 4 major priorities for the Association. These are:

By structuring our activities around these 4 strategic priorities, we have ensured that we have impact on our members, on the wider neurological community and on service delivery for patients. Some work in these areas has been steered by the EDI, Education, Quality, Research and Services committees, whilst other initiatives have been spearheaded by the ABN Executive and the ABN office.

Below, we have laid out how the work of the ABN in 2025 has clustered around our strategic priorities and the impact that this has had.

Community

ABN’s events, in particular the Annual Meeting and the Autumn meeting, attracted over xxxx delegates in 2025. These events are highlights of the calendar and contribute to building a strong community across UK neurology.

The ABN fellowships have fostered a community of academic neurologists since 2010. Each year we bring them together at the annual meeting for a fellows’ lunch, giving them the opportunity to network with their peers and build professional connections. In 2025, 20 people attended the fellows’ lunch.

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

The fellowships continue to support the neurology workforce by supporting academic career pathways and growing the next generation of clinical academic neurologists.

Our commitment to diversity is evident across the ABN community. Our dedicated EDI committee has undertaken a lot of work throughout 2025 to improve our understanding of the ABN’s membership and to promote equity and inclusion. Initiatives have included: data collection and analysis, updating guidance for the ABN annual meeting and publishing a series of video vignettes showcasing our members’ work.

By understanding the data about our members, we can continue to look for ways to reduce barriers to joining and getting more involved with the ABN.

Through the ABN Services Committee, we published ABN Advice and Guidance (A&G) Frequently Asked Questions , providing those in the neurology workforce with an important toolkit for triaging referrals from GPs, ultimately with the aim of reducing patient waiting times. This has now been used to develop the GIRFT A&G document, broadening the impact of our work in this area.

During 2025, the ABN Services committee also developed the Workforce report that was published in early 2026. This important document highlights the lack of good data on the neurology workforce, the disparity across regions of the UK and clear need for a definitive workforce census to be conducted.

In 2025, the ABNT continues to build a community of neurology trainees through its mailing lists and designated WhatsApp groups allowing trainees to share ideas and opportunities.

The training day held in Liverpool on 6 May 2025 welcomed over 200 trainees, allowing neurology trainees to foster important professional connections with their peers. This was reinforced by the annual trainee dinner.

Advocacy

In 2025 we raised awareness of the pressure on academic neurologists whilst attending a meeting of the Specialist Advisory Committee for SpR training.

The ABNT sent representatives to all ABN’s committees and the ABNT chair attended Council meetings and meetings of the SAC to ensure trainees’ voices shape the future of neurology training and the neurology workforce.

As part of our EDI work, we contributed to a Pan-European survey on gender parity in leadership roles, in collaboration with the European Academy of Neurology.

Through the ABN Services Committee, ABN contributed to multiple documents including the NHS England Service Specification and the NHS England Acute Neurology. We also responded to a consultation on the NHS’s 10-year plan.

The ABN’s Quality committee supported a NICE standard on rare diseases and has partnered with GIRFT to launch a national neurology audit that will have a significant impact on future NHS policy and commissioning decisions. The pilot for the national neurology audit will be launched in 2026.

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Members of ABN Council and the ABN office team attended receptions at the Houses of Parliament run by Neurological Alliance, Parkinsons UK, National Tremor Foundation and Sanofi.

Research

The continued success of our fellowship programme, which saw a further £1.2m of funding pledged in 2025, underscores our commitment to neurology research.

In 2025 the following ABN fellows were appointed: Dr Christopher Gilmartin (Nottingham, co-funded by MS Society & Guarantors of Brain), Dr Harry Knights (UCL, funded by Patrick Berthoud Charitable Trust), Dr Linda Lei (UCL, funded by MSA Trust) and Dr Abidemi Otaiku (Imperial, funded by Guarantors of Brain).

In total, the scheme has distributed over £10.5m to clinical research since its inception. We have achieved this level of financial contribution through work with partners including Guarantors of Brain, the Patrick Berthoud Charitable Trust, MSA Trust, PSPA, MS Society, Epilepsy Research Institute, Stroke Association, Dunhill Medical Trust and the Berkeley Foundation. The partnerships we have cultivated ensure that the work of our fellows has impact beyond the ABN and across a broad range of neurological conditions.

We strive to make the ABN fellowships more inclusive by supporting a diverse group of fellows. We monitor data on gender, ethnicity and geography of our fellows and we continue to develop strategies to broaden our reach.

We are proud that our fellowships are increasing the critical mass of academic neurologists, strengthening the pipeline for clinician researchers. The work being undertaken by ABN fellows has enhanced the clinical impact of research and contributed to improving disease outcomes.

Education

The ABN’s flagship events, the Annual Meeting held in Liverpool and the Autumn Meeting held in London, were not only about building the ABN community but also intended to offer key educational opportunities for our members.

The ABNT has contributed a huge amount to ABN’s educational offering during 2025. From providing information on the ABN website, to events such as the training day which attracted 200 attendees, Neurology bootcamp and preparing for consultancy course, the ABNT ensured that trainee members are well-provided with educational initiatives. These events equip doctors with the knowledge and skills to manage neurological emergencies, ultimately leading to better care for patients.

Our educational events extend beyond those already in neurology training, with our Student Day organised in collaboration with NANSIG allowing ABN to reach medical students across the UK and the world.

Our EDI efforts ensure that our meetings and events are as inclusive and accessible as possible.

Aside from events, the ABN’s Quality committee has provided important tools for trainees including the Lumbar Puncture Audit. The development of guidance documents that the Quality committee oversees supports ongoing CPD for neurologists at all levels. In 2025, the QC endorsed 2 new guidance

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

documents (on Myasthenia Gravis and MS in Pregnancy) and approved 1 further document (on the management of neurogenic urinary and sexual symptoms).

Membership

As of 31 December 2025, there were 886 ordinary members of the Association, 303 senior members, 55 honorary members, 52 overseas members, 387 associate members, 11 Fellow members, 72 Affiliate members, 158 Junior, 56 student members and 16 Allied Health Professional members. The total number of active members was 1996. Only the ordinary members have a right to vote at the Association’s general meetings though all members are encouraged to attend.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

FINANCIAL REVIEW

In 2025, the ABN’s incoming resources were £1,687,337 (£1,385,304 unrestricted income, £302,033 to the ABN Clinical Research Training Fellowship fund). Total resources expended were £1,448,845 (£1,137,481 unrestricted, £311,364 from the ABN CTRF fund) giving a net gain before revaluation of investment assets of £238,492.

ABN investments grew at a rate that outstripped the UK market in 2025, increasing in value by £228,264. The ABN’s unrestricted reserves increased from £1,395,565 at the beginning of the year to £1,862,321 at the end.

In line with financial and legal advice, the ABN’s objective is to maintain a reserve of around 1 times its normal annual expenditure. This is considered a safe margin which would allow for what had previously been considered remote contingencies, such as the financial failure of an annual meeting.

In 2025, ABN established a trading subsidiary, ABN Events Ltd, to manage sponsorship income from events, allowing us to reduce our corporation tax and VAT liabilities.

Reserves policy

At 31 December 2025 the Association's unrestricted funds not invested in intangible or tangible fixed assets totalled £1,862,321. As noted above, the trustees consider it prudent for the Association to maintain an available reserve in the region of 1 times its normal annual expenditure. The rationale has always been that, should the Association's income fall unexpectedly, this reserve would be used to enable the Association to plan and execute in good order either a reduction in its activities or an improvement in its income stream.

Grant-making: Clinical Research Training Fellowship

Applications open in June/July each year and are promoted via the ABN website and newsletter. Typically, 4 reviewers, selected on basis of their academic standing and familiarity with the subspecialty, are used for each application. ABN Research Committee determines a shortlist of candidates for interview based on both qualitative and quantitative feedback in the reviews. The interview panel comprises ABN council representatives (typically ABN President or President Elect, Chair of the Research Committee, Honorary Treasurer), 1- 2 scientific representatives from each of the participating

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

funding bodies, a lay assessor (typically an ABN lay Trustee or representative from neurological patient charity) and 2-3 additional clinical experts (selected to ensure panel has at least one person familiar with the subject of research for each applicant to be interviewed). Funding bodies are invited to send a further attendee as an observer. The interview panel scores each applicant on personal (CV, enthusiasm, knowledge) and project (science, translation, feasibility, training) attributes and add comments. At the end of the interview process all scores are reviewed by the interview panel and agreement reached on successful candidates.

Material investments policy

Any significant amounts of cash at bank which are not likely to be expended in the short term are placed on deposit. If the trustees consider there to be significant amounts held on deposit which are unlikely to be expended in the mid-to-long-term these are invested in accumulation units in M & G's "The Equity Investment Fund for Charities (Charifund)" which the trustees consider gives capital growth with relatively low risk. The ABN current account is now attracting 4% interest following an application to Lloyd’s Bank.

PLANS FOR THE FUTURE

Future developments

A major focus in 2026 will be the pilot and subsequent roll-out of a comprehensive workforce census intended to provide key insights into the state of the neurology workforce across the UK.

In 2026, the ABN will hold its Annual Meeting in Birmingham from 5-8 May. This includes a Training Day on 5 May. Instead of an Autumn meeting, the ABN is delighted to be partnering with SBNS to deliver a joint meeting as part of their 100[th] anniversary celebrations. Smaller meetings, including the Acute Neurology ‘Boot Camp’ (1-2 July) and the Student day (18 November) will take place virtually. ABN will organise the 4[th] Preparing for Consultancy Course (25 September). We are also launching a brand-new series of student webinars.

Plans are in development for spring meetings in Belfast (2027) and Wales (2028).

ABN’s Education committee is currently developing a Global Travel Grants scheme which will enable neurologists from low/middle-income countries to attend our meetings. As agreed by the FAR committee, the budget for this scheme will be £10,000 per annum.

The programmes for the Association’s annual meetings are reviewed on an on‑going basis to ensure that symposia and teaching sessions remain relevant to, and attract, the widest possible audience. Each annual conference also includes a training day aimed at specialty trainees and junior doctors considering a career in neurology.

The ABN will continue its work in the area of EDI to ensure that the work of the Association remains relevant to, and inclusive of, a wide group of neurologists and medical professionals.

The ABN office will continue the long-term project of redeveloping the ABN website to ensure information about the Association reaches a broad audience, and updating the customer database to allow staff and trustees to communicate better with members and understand the demographics that make up the ABN. The office is also focusing on a review of major suppliers and refurbishment works to ensure that the office can continue to serve ABN members into the future.

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

We are building on existing relationships with the World Federation of Neurology and the European Academy of Neurology to improve our international outreach.

The Association will continue to support trainees on issues regarding training and provide a lead to its members in preparing for revalidation and recertification.

MEMBERS' LIABILITY

The Members of the Association guarantee to contribute an amount not exceeding £1 to the assets of the Association in the event of winding up.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also the directors of the Association for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Association and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Association's transactions and disclose with reasonable accuracy at any time the financial position of the Association and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PROVISION OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

preparing their report and to establish that the charitable company's auditors are aware of that information.

AUDITORS

In accordance with the Association's Articles, a resolution proposing that Goldwins be reappointed as auditors of the Association and that their remuneration be fixed by the trustees will be put at the annual general meeting in May 2026.

Approved by order of the members of the board of Trustees on 7 May 2026 and signed on their behalf by:

................................................ Professor N. Robertson President

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS

Opinion

We have audited the financial statements of Association of British Neurologists (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence 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 director’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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 directors with respect to going concern are described in the relevant sections of this report.

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS

Other information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charity for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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 assurance 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 influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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ASSOCIATION OF BRITISH NEUROLOGISTS

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS

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 statements or non-compliance 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 irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

…………………………… Anthony Epton (senior statutory auditor) for and on behalf of Goldwins Limited Statutory Auditors Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG Date: 13 May 2026

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Association of British Neurologists

Statement of financial activities

(incorporating an income and expenditure account)

For the year ended 31 December 2025

Note
Income from:
Donations
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
7
Net gains on investments
Net income / (expenditure)
8
Transfers between funds
Net movement in funds
Reconciliation of funds:
17
Total funds brought forward
Total funds carried forward		 Restricted
funds
Unrestricted
funds
Total
funds
Total
funds
2025
2025
2025
2024
£
£
£
£
855
3,000
3,855
13,785
301,178
804,287
1,105,465
1,093,827
-
561,301
561,301
506,392
-
16,716
16,716
17,040
302,033
1,385,304
1,687,337
1,631,044
-
524,056
524,056
459,124
311,364
613,425
924,789
1,060,232
311,364
1,137,481
1,448,845
1,519,356
-
228,264
228,264
97,694
(9,331)
476,087
466,756
209,382
9,331
(9,331)
-
-
-
466,756
466,756
209,382
15,743
1,395,565
1,411,308
1,201,926
15,743
1,862,321
1,878,064
1,411,308

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

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Association of British Neurologists

Balance sheet

As at 31 December 2025

Note
Fixed assets:
Intangible assets
11
Tangible assets
12
Investments
13		 2025
£
44,506
3,597
1,299,660		 2025
£		 2024
£
1,201
5,596
1,071,396		 2024
£
Current assets:
Stock
14
Debtors
15
20
Cash at bank and in hand		 320
691,736
410,144		 1,347,763 1,000
614,503
414,689		 1,078,193
Liabilities:
16
Creditors: amounts falling due within one year		 1,102,200
(571,899)		 1,030,192
(697,077)
Net current assets 530,301 333,115
Total net assets 1,878,064 1,411,308
17
Total unrestricted funds
Funds:
Unrestricted funds:
General funds
Restricted funds		 1,862,321 15,743
1,862,321		 1,395,565 15,743
1,395,565
Total funds 1,878,064 1,411,308

The financial statements were approved and authorised for issue by the trustees on 7 May 2026 and signed on their behalf, by:

Professor N. Robertson President

Dr Jeremy Harry Rees Honorary Treasurer

Company registration no. 03816842

The attached notes form part of the financial statements.

Page | 17

Association of British Neurologists

Statement of cash flows

For the year ended 31 December 2025

Note
Net cash provided by / (used in) operating activities
19
Cash flows from investing activities:
Interest from investments
Sale of investments
Purchase of fixed assets
Cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
20		 2025
2025
2024
£
£
£
22,644
16,716
17,040
-
290,000
(43,905)
(5,332)
(27,189)
(4,545)
414,689
410,144		 2024
£
(343,989)
301,708
(42,281)
456,970
414,689

Page | 18

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP - FRS 102) and the Charities Act 2011.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

Page | 19

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

1 Accounting policies (continued)

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

All expenditure is inclusive of irrecoverable VAT.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance and governance costs which support the charity's charitable activities. These costs have been allocated to charitable activities.

Intangible fixed assets

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. The amortisation rate in use are as follows:

Intangible fixed asset

5% on the straight line basis

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Short leasehold property Over the period of the lease Office furniture, fittings and equipment 20% on the straight line basis Computer equipment 33% on the straight line basis

Listed 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. Any change in fair value will be recognised in the statement of financial activities.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page | 20

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

1 Accounting policies (continued)

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortized cost using the effective interest method.

Page | 21

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

2 Detailed comparatives for the statement of financial activities

Income from:
Donation
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net (losses)/gains on investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Restricted
funds
Unrestricted
funds
Total funds
2024
2024
2024
£
£
£
2,280.00
11505
13,785
321,482
772,345
1,093,827
-
506,392
506,392
-
17,040
17,040
323,762
1,307,282
1,631,044
-
459,124
459,124
448,847
611,385
1,060,232
448,847
1,070,509
1,519,356
-
97,694
97,694
(125,085)
334,467
209,382
1,927
(1,927)
-
(123,158)
332,540
209,382
138,901
1,063,025
1,201,926
15,743
1,395,565
1,411,308

Page | 22

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

3 Income from donations

Donations
4
Income from charitable activities
Meetings income
Annual subscriptions
Special Certificate Examination income
Clinical Research Training Fellowship
Hire and sublet of office space
Practical Neurology income
5
Income from other trading activities
Sponsorships and exhibition
Sales of merchandise
6
Income from investments
Income from local listed investments
Gross interest received on bank deposits		 Restricted
funds
Unrestricted
funds
Total
funds
Total
funds
2025
2025
2025
2024
£
£
£
£
855
3,000
3,855
13,785
855
3,000
3,855
13,785
Restricted
funds
Unrestricted
funds
Total
funds
Total
funds
2025
2025
2025
2024
£
£
£
£
-
451,989
451,989
435,102
-
288,749
288,749
271,211
-
12,067
12,067
23,949
301,178
-
301,178
321,482
-
20,948
20,948
17,410
-
30,534
30,534
24,673
301,178
804,287
1,105,465
1,093,827
Restricted
funds
Unrestricted
funds
Total
funds
Total
funds
2025
2025
2025
2024
£
£
£
£
-
560,381
560,381
506,392
-
920
920
-
-
561,301
561,301
506,392
Restricted
funds
Unrestricted
funds
Total
funds
Total
funds
2025
2025
2025
2024
£
£
£
£
-
11,125
11,125
13,419
-
5,591
5,591
3,621
-
16,716
16,716
17,040

Page | 23

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

7 Analysis of expenditure current year

Audit and accountancy
Bad debts
Bank charges
Clinical Research Training
Fellowship - Grants to individuals
Consultancy fees
Depreciation
Fellowship support costs
General and committee meeting
expenses
Irrecoverable VAT
IT costs
Legal and professional
Loss on disposal of tangible fixed
asset
Meetings costs
Office rent, rates and service
charges
Office running expenses
Practical Neurology subscription
Professional subscriptions
Repair and maintenance
Sponsorships and exhibition costs
Staff costs - meetings
Staff costs - Sponsorships and
exhibition
Staff training and recruitment costs
Sundry expenses
Website and internet expenses
Support costs
Governance costs
Total expenditure 2025
Total expenditure 2024		 Raising funds -
Sponsorships
and Exhibition
costs
Raising
funds -
Others
Charitable
activities
Support
costs
Governance
costs
Total 2025
Total 2024
£
£
£
£
£
£
-
-
-
-
8,967
8,967
6,567
-
-
-
30,150
-
30,150
-
-
-
-
4,419
-
4,419
3,767
-
-
313,414
-
-
313,414
451,097
-
-
-
-
-
-
-
-
-
-
2,599
-
2,599
3,514
-
-
-
-
-
-
-
-
-
15,773
-
-
15,773
9,928
38,154
-
-
60,702
-
98,856
44,768
-
-
-
26,745
-
26,745
21,639
-
-
-
26,412
-
26,412
29,384
-
-
-
-
-
-
210
-
-
176,145
-
-
176,145
252,948
-
-
-
56,899
-
56,899
53,429
-
-
-
9,660
-
9,660
12,716
-
-
10,000
-
-
10,000
22,500
-
-
12,834
-
-
12,834
12,601
-
-
-
764
-
764
652
293,493
-
-
-
-
293,493
243,403
-
-
215,536
-
-
215,536
204,680
128,000
-
-
-
-
128,000
128,000
-
-
-
11,604
-
11,604
9,298
-
-
-
240
-
240
1,848
-
-
-
6,335
-
6,335
6,407
459,647
-
743,702
236,529
8,967
1,448,845
1,519,356
44,769
19,640
172,120
(236,529)
-
-
-
-
8,967
-
(8,967)
-
504,416
19,640
924,789
-
-
1,448,845
430,795
28,329
1,060,232
-
-
1,519,356

Of the total expenditure, £1,137,481 was unrestricted (2024: £1,070,509) and £311,364 was restricted (2024: £448,847).

Meetings expenditure includes delegates costs, installation and storage of display equipment, books, programmes etc.

Of the total support and governance costs, 8% (2024: 8%) has been apportioned to expenditure on raising funds.

Grants to individuals

Clinical Research Training Fellowship grants : provide support to students who want to study an aspect of clinical neuroscience and obtain a MD or PhD degree.

Page | 24

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

7 Analysis of expenditure continued

During 2025, grants were paid to 7 individuals (2024: 5). In 2024, all of the total grants paid were from restricted funds (2024: all from restricted funds).

Analysis of expenditure - prior year

Audit and accountancy
Bank charges
Clinical Research Training
Fellowship - Grants to individuals
Consultancy fees
Depreciation
Fellowship support costs
General and committee meeting
expenses
Irrecoverable VAT
IT costs
Legal and professional
Loss on disposal of tangible fixed
asset
Meetings costs
Office rent, rates and service
charges
Office running expenses
Practical Neurology subscription
Professional subscriptions
Repair and maintenance
Sponsorships and exhibition costs
Staff costs - meetings
Staff costs - Sponsorships and
exhibition
Staff training and recruitment costs
Sundry expenses
Website and internet expenses
Support costs
Governance costs
Total expenditure 2024		 Raising funds -
Sponsorships
and Exhibition
costs
Raising
funds -
Others
Charitable
activities
Support
costs
Governance
costs
Total 2024
£
£
£
£
£
-
-
-
-
6,567
6,567
-
-
-
3,767
-
3,767
-
-
451,097
-
-
451,097
-
-
-
-
-
-
-
-
-
3,514
-
3,514
-
-
-
-
-
-
-
-
9,928
-
-
9,928
34,076
-
10,692
-
-
44,768
-
-
-
21,639
-
21,639
-
-
-
29,384
-
29,384
-
-
-
210
-
210
-
-
252,948
-
-
252,948
-
-
-
53,429
-
53,429
-
-
-
12,716
-
12,716
-
-
22,500
-
-
22,500
-
-
12,601
-
-
12,601
-
-
-
652
-
652
243,403
-
-
-
-
243,403
-
-
-
204,680
-
204,680
128,000
-
-
-
-
128,000
-
-
-
9,298
-
9,298
-
-
-
1,848
-
1,848
-
-
-
6,407
-
6,407
405,479
759,766
347,544
6,567
1,519,356
25,316
28,329
293,899
(347,544)
-
-
-
-
6,567
-
(6,567)
-
430,795
28,329
1,060,232
-
-
1,519,356

Page | 25

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

8 Net income / (expenditure) for the year

This is stated after charging:
Depreciation
Auditor's remuneration		 2025
2024
£
£
2,599
3,514
4,167
4,167

9 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes		 2025
2024
£
£
288,789
280,951
26,172
24,226
28,575
27,503
343,536
332,680

The following number of employees received employee benefits (excluding employer's national insurance and pension costs) for the reporting period between:

£60,000 - £69,999
£70,000 - £79,999		 2025
2024
No.
No.
-
1
1
-

The total employee benefits of key management personnel including the employer's pension contributions and national insurance were £95,454 (2024: £84,322).

Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 7 (2024: 7).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2024: £nil). Expenses totalling £3,041 were reimbursed or paid directly to 6 Trustees (2024 - £2,501 to 6 Trustees). Trustees are reimbursed for necessarily incurred expenses. These are included in the appropriate category of resources expended. No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

10 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Page | 26

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

11 Intangible fixed assets

Cost
At the start of the year
Additions
At the end of the year
Depreciation
At the start of the year
Charge for the year
At the end of the year
Net book value
At the end of the year
At the start of the year
12
Tangible fixed assets
Cost
At the start of the year
Additions
At the end of the year
Depreciation
At the start of the year
Charge for the year
At the end of the year
Net book value
At the end of the year
At the start of the year		 Coat of
arms
Customer
relationship
management
and Content
management
system
Total
£
£
£
12,000
-
12,000
-
43,905
43,905
12,000
43,905
55,905
10,799
-
10,799
600
-
600
11,399
-
11,399
601
43,905
44,506
1,201
-
1,201
Short term
leasehold
property
Computer
Equipment
Total
£
£
19,891
6,832
26,723
-
-
-
19,891
6,832
26,723
19,891
1,236
21,127
-
1,999
1,999
19,891
3,235
23,126
-
3,597
3,597
-
5,596
5,596

All of the above assets are used for charitable purposes.

Page | 27

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

13 Investments

Listed investments - UK
Movements
Market value at the start of the year
Disposals at carrying value
Net gain / (loss) on revaluation
Market value at the end of the year
14
Stock
Finished goods and goods for resale
15
Debtors
Accounts receivables
Prepayments
Accrued income
Other debtors
16
Creditors: amounts falling due within one year
Accounts payables
Other taxation and social security
Other creditors
Accruals
Deferred income
Deferred income
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2025
2024
£
£
1,299,660
1,071,396
1,299,660
1,071,396
1,071,396
1,263,702
-
(290,000)
228,264
97,694
1,299,660
1,071,396
2025
2024
£
£
320
1,000
320
1,000
2025
2024
£
£
11,269
145,533
281,215
122,860
394,852
346,110
4,400
-
691,736
614,503
2025
2024
£
£
36,155
35,871
9,195
20,207
4,225
3,080
375,922
457,129
146,402
180,790
571,899
697,077
2025
2024
£
£
180,790
127,407
(180,790)
(127,407)
146,402
180,790
146,402
180,790

Page | 28

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

17 Movements in funds

Restricted Funds:
Clinical Research Training
Fellowship
Roger Bannister Fellowship
Total restricted funds
Unrestricted funds:
General funds
Total funds		 At the start
of the year
Income and
gains
Expenditure
and losses
Transfers
At the end
of the year
£
£
£
£
£
-
302,033
(311,364)
9,331
-
15,743
-
-
-
15,743
15,743
302,033
(311,364)
9,331
15,743
1,395,565
1,613,568
(1,137,481)
(9,331)
1,862,321
1,411,308
1,915,601
(1,448,845)
-
1,878,064

Clinical Research Training Fellowship fund

The Clinical Research Training Fellowship fund (CRTF) is a restricted fund to support trainees who want to study an aspect of clinical neuroscience in depth for three or four years and obtain an MD or PhD degree. Support includes salary, university fees, reasonable travel costs and laboratory consumables.

The aim is to hold unrestricted reserves of approximately 1.25 times the annual operating costs. Reserves above this figure may be transferred to the restricted reserve for the CRTF fund.

17 Movements in funds

Movements in funds for the prior year

Restricted Funds:
Clinical Research Training
Fellowship
Roger Bannister Fellowship
Total restricted funds
Unrestricted funds:
General funds
Total funds		 At the start
of the year
Income and
gains
Expenditure
and losses
Transfers
At the end of
the year
£
£
£
£
£
123,158
323,762
(448,847)
1,927
-
15,743
-
-
-
15,743
138,901
323,762
(448,847)
1,927
15,743
1,063,025
1,404,976
(1,070,509)
(1,927)
1,395,565
1,201,926
1,728,738
(1,519,356)
-
1,411,308

Page | 29

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

18 Analysis of net assets between funds

Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Net current assets
Net assets at the end of the year
Analysis of net assets between funds (prior year)
Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Net current assets
Net assets at the end of the year
19
Reconciliation of net income / (expenditure) to net cash
Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation
losses/(gains) on investments
Interest from investments
Loss on the sale of fixed assets
Decrease/(increase) in stock
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
Net cash provided by / (used in) operating activities		 Restricted
funds
Unrestricted
funds
Total
funds
£
£
£
-
44,506
44,506
-
3,597
3,597
-
1,299,660
1,299,660
15,743
514,558
530,301
15,743
1,862,321
1,878,064
Restricted
funds
Unrestricted
funds
Total
funds
£
£
£
-
1,201
1,201
-
5,596
5,596
-
1,071,396
1,071,396
15,743
317,372
333,115
15,743
1,395,565
1,411,308
flow from operating activities
2025
2024
£
£
466,756
209,382
2,599
3,514
(228,264)
(97,694)
(16,716)
(17,040)
-
210
680
1,233
(77,233)
68,157
(125,178)
(511,751)
22,644
(343,989)

Page | 30

Association of British Neurologists

Notes to the financial statements

For the year ended 31 December 2025

20 Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
At the start At the end
of the year Cash flows of the year
£ £ £
Cash at bank and in hand 414,689 (4,545) 410,144
Total cash and cash equivalents 414,689 (4,545) 410,144
Analysis of cash and cash equivalents (prior year)
Cash at bank and in hand		 At the start
of the year
£
456,970		 Cash flows
£
(42,281)		 At the end of
the year
£
414,689
Total cash and cash equivalents 456,970 (42,281) 414,689
Operating lease commitments
Total future minimum lease payments under non-cancellable
Less than 1 year
Between 1 and 5 years		 operating leases are as follows:
Property
Property
2025
2024
£
£
37,625
37,625
75,250
112,875
112,875 150,500

21 Operating lease commitments

22 Legal status of the charity

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 company are the trustees. In the event of the Association being wound up, the liability in respect of the guarantee is limited to a maximum of £1 per member of the Association.

23 Related party transactions

There are no related party transactions to disclose for the year other than noted in note 9.

Page | 31