**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
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## **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:
- Support neurologists and neurological trainees in their clinical practice
- Support neurologists and neurological trainees in their research and academic activities
- • Increase knowledge of the nervous system and its disorders
- Ensure the continuing professional development of its members
- Promote the education of neurological trainees and support learning of neurology throughout medical training
- Collaborate with the Royal College of Physicians (London, Edinburgh and Glasgow)
- Foster communication with patient interest groups
- Maintain contacts with neurologists in developed and developing countries
- Provide guidance, when required, for matters relating to neurology.
## **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**
- 1996 ABN members
- 2077 delegates registered across all our events
- 55 clinical consultations responded to
- £1.2m funding secured for ABN's 2025 Clinical Research Training Fellows
- 22,249 page views on the ABN website
- 281 committee and advisory group members
- 2 new guidance documents endorsed
- 1 new guidance document approved
- 11 guidance documents in process into 2026
## **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:
- **Community** – Fostering a community of neurologists and looking after the neurology workforce
- **Advocacy** – Advocating for neurologists’ concerns, raising the profile of neurology and the work of neurologists to policymakers and the wider public
- **Research** – Promoting research in neurology
- **Education** – Driving excellence in education and providing educational resources and support to trainees
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:
- select suitable accounting policies and then apply them consistently
- observe the methods and principles of the Charities SORP (FRS 102)
- make judgments and accounting estimates that are reasonable and prudent
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Association will continue in business.
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:
- so far as that trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware, and
- that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any information needed by the charitable company's auditors in connection with
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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:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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:
- the information given in the Trustees' Report which includes the directors’ prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report included within the trustees’ report has [have] been prepared in accordance with applicable legal requirements.
## **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:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic 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**
## **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:
- We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
- Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
- The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
- We inspected the minutes of meetings of those charged with governance.
- We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
- We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
Page | 14
## **ASSOCIATION OF BRITISH NEUROLOGISTS**
## **(A company limited by guarantee)**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASSOCIATION OF BRITISH NEUROLOGISTS**
- In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial 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**
Page | 15
## **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.
Page | 16
## **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:
- Costs of raising funds comprise of trading costs and the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
- Expenditure on charitable activities includes the costs of delivering services to further the purposes of the charity and their associated support costs.
- Other expenditure represents those items not falling into any other 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