Grflfin Hou80, 63 RegontPlace, Blrmln 913NJ Tel.. 444 ID 1212361988 WebsIto".1l.tsS0c.org.uk Churfty N Ki93118 VAT NO.. 442 5855 40 BRITISH SOCIETY FOR • • ANTIMICROBIAL . • •CHEMOTHERAPY Rystorvdos o comporyNTI@dtygur¢Tnts• In ErtgknrtY& Wdes No. 444391tr Re9ilteMdaddfeS% tsrifNn I*Ju5¢ 53 ReyntPbK¢ rmrt]gl)um b13NJ AUDITED ACCOUNTS 2023 CONTENTS Referen¢tr and administrative detoils Trustees Report Independent Auditorfs report Financial Statements 3-10 14-31 Open to allmembersolthe BSAC Voting rights limited to Ordinary and Honorary Members of the Society
Brfdsh Soclety forAnliml¢roblol Chemother(py Reference and administrative details of the company, its trustees and advisers for the year ended 30 September 2023 Dr Michael Aller¥ Medlcal Aftoir$. Merck Ino Dr Tgm Ashlield, M¢dicol Adviser. London {Appointed 18 Moy 2023) Dr loannis Balto ID Micro Troinee, London {Appointed18 Muy 2023) Dr Jesslco Blair, Academie hAicrobio109isL Birmingham (Resigned 20 NOVemr 2022) Dr Matthew Oryllern Con5ult¢Jnt in Infectiory Porton Down (Appointed 18 Moy 20231 Dr Aoife Fleming, Consultant PharrnacisL Northern Ireland (Appointed 18 May 2023) DR Naomi Fleming, Communlty bos8d Pharmoci5¢ Towcester Dr hAork GilchrlsL Consultunt Phorma¢lsL London (Re$igned l May 2024) Dr lan Gould, Consultont Microbiologis¢ Aberdeen Or DoThel Hassan, PhD StudonL USA (Resigned 18 Jonuory 2024) Dr Oliver Van H8ck8, Academic General Practitioner, London Professor Philip Howurd OBE Consuiiont Phormccisl Leeds (Resigned18 2023) DT Dovid Jenkins, Consulttsnt Microbiologi$L Lelcester Dr Amelia (Annie) josep Consultont Medical MicrobFologiSL Nottinghtsm Professor Poul Long (Reslgned l Moy 20241 Dr Christopher LOngSlw. SenloT Dlrector. Sdgniitic Allairs, Shiono9i B.V. Dr Aimee Murroy, Lecturer. Exeter Dr Helena Parsons Consultant Microbiologis¢ Shellield Dr Sanjay Patel, Consultant Infectlous Diseases Paediutrielan, Southompton Dr Neil Powell, Consultant Antimicroblol Phtsrmoci5l Cornwall (Res5gned 18 Moy 2023) Professor Andrew Seatorn Consultant In Infectious Dlseoses & General Modleln, Glosgow (Appolnted 18 May2023) Dr Jonathan Sandoe, Asso¢late Cllnical Prof8ssor tdi¢roblglogy, Leecls Dr Louisa sweeney, Consultont Medicol MicrobiologisL Monch&ster Dr Sally Tlpping, Lead Antimicrobial Pharmrjcist, Swndon AOM 2024
Anrwul General Meetlng 2024 Trustees. Report for the period ended 30 SEPTEMBER 2023 The trltstees are pleased to sent their annual dirertor$' report together wlth the consolldated Ilnancial statements of the ¢hority and its subsidiary lor the yetsr ending 30 September 2023 which ore olso prepared to m8et thè r4uir8m8nts for a dlrectors, report ond occounts for Companies Act purposes. rhè financlal statemants ¢ompty Th the Chorities Act 2011, the Companies Act 2006.thè MernorarKlum ond Artlcles ol Assoclatiorn and Accounting and Reporting by Charitie Stotoment of Recommended Pruetice opplicoble to charittes preparing their oc¢ovnts in occordance with the Financiol Reporuro Stondord opO¢ablo in the UK and Republic ol Irel(Jnd (FRS 102) (eflectSvel January 2019. TTustee8' re8ponsibllities In relatlonto th8frnonclolststements The Trustees (who ore also Directors of Britssh Society lor Antimicrobial Chemgthergpy for thg purpo59s 01 compony law) are responsble lor pr8parin9 the Rgport ol tho Trustees (incorFKYating a dlr8Ctors' report) ond the tinaneiul stotements in occordance wlth oppli¢oblg low and Unlted Klngdom Aeeounttng Stondurd5 {Ltnlted Kingdom Gengrolly Accepted Accounting Practlcèl. Compony law requires tho trustees to prepare flnanciol stat8m8nt$ lor each ffnoncial yeor whth glve a tru8 (Jnd foir eW of the chority and the group ond of the incoming resourees ond opplicotion of r¢5tsurcès. Inelu(Jln9 the in¢orne and expèndsture, ol the gro¢Jp for thtst perlod, In preparing the linonci(21 statnentS the trustees 01 rèqulred ttr. Select sultoble accountlng F)olicles and opply them eon$istèntly. Obsetve the methods and principles In the Charities SORP. lake ludgments und estimotes thot are reasonable ond prudent state whether applicoble UK AccoLrnting Standards hove been followed, subject to any material departur•s disc105ed ancl explain8d in the financial Statements. Prepare thé financial stotements on the going concern basis unless It 1$ Inoppropriote to wesumè ihot th& charttubtg companywill Continue In business. The trusteos are responsible for keeping prop&r accountlng records that disclose wth reosonablg ¢Jccura¢y ot ony tlme rhe ffnanclol position of th? ¢haritoble company and enable tham to ensu¥& thot tho linonciol stotements comply with the Componi8s Act 2006. They are olso responslble lor soleguording the ossets ol the hority and the group gnd hence for toking reasongble steps for the preventlon and detection ol froud ond other irregularitiès. siutsmontastodls¢lo$ure to our oudltors Thg trustees are responsible for th8 moint8ntsn¢e and integrity of the corporate ond ffnonclol inlormotion Included on chorltys website. Leglslotlon In the Vnltgd Klngdorn governing the preparatson and dis5emlnotKJn ol tinanclgl statements moy diller fiom leglslatlons in otherjurisdictions. In $0 lar as thg trustegs ore owore.. Thère Is no felovant uvdit informotion of ¥yhrch thè charitable companvs o(Jditor gs unawgre,. and The trustees hove taken all steps thot they ought to have taken to moko thems85 oware ol any reknnt audit information and to èstablish thol the auditor Is aware of that informouon. RÈlereneeundudmlnlstroiived•tails The Brith$h Society for Antimicroblol Chémotheropy is both o company limited by guarantee (Registered Company 4443910) and a reglst6rèd chority (Registered ¢horlty1093118). It was incorporoted on 21 May 2001 having operated as on unincorptsrotèd charity since ng ft>unded in1971. The principal and registered adcfro$S cl the Chority is Griflin Houso, 53 Regant Pltsce. Blrrnlnghan 813NJ. The names ol the trustees ot tha dat8 of opproval ol the reporL and the nam95 of those who 5efftd durin9 the fi"nanciol year ore.. BSAC
8rltlsh Soclety forAntiml¢ioblol Chemotheropy J October2022-3Q Sept¢mber2023 Michogl Allen, Medieol Affoir& rck Inc Naomi Flerning Community bos8d PhaTmocis¢ Tow¢ester l¢Jn Gould, Consultont Miclobiologist, Aberdeen Donlel Hossory PhD Studen¢ USA Oliver Van Hecke, Academio General Practltloner, London Phllip Howard OBE, Consultant PharmacisL, Leeds Davld Jenkins, Consultont Microblologlst. Lelcester Amelia (Annie) josep Consultant Medleol Microbiologi5¢ 140ttinghom Chrlstopher Longshow, hAedicol Adviser, Shlongl Almee Murray. Lecturer, Exeter Holgna Parsons, Consultont Microbi¢logist. Shoffigld Sunjtsy Potel, Consultant Inloctious DIs8oses Poediotriciory Southampton Jonothon Sondoe. Asso¢iote Clinicul Professor kficrobiology, Leèds Sally Tipping lead Antimicrobiol Phormacis¢ Svrindon Louise Sweeney, C0ft5ultant Mediccl M*¢robiologis¢ Monchestei l October2022- 18 Muy 2023 Neil Powell. ConsLtltont Antimicrobial Pharmacist Cornwall Jessieo Bloir, Acodemlc MiciobiologisL Birminghom k4ork GTlchris¢ Consultont Phormaet5t, LondtsA Paul Long. Profess of Phormocogno$y, London 17May2023- 30 Septemb8r2023 loannis 8oltas. ID ljicro Troing9, Londor¢ Matthew Drydeo Consui¢ont In Inf8¢don, Porton Down Tom Ashfi'elLI Medlcal Adviser, London Aoife Fleming, Consultant Phormoci$L Northern Ireland Dr Andrew Seatory Infeetlon Diseoses Consultant Glasgow The rme ol the Socievs Chief ExecutIve Olficer, the senlor $toff member to whom the truste85 delegate doy to day management of Society offoirs. is Mrs Tro¢ey Guise. The names ond oddres$es ol the Sodety bunkers, audltors, Investment advisers and solicitor5 ore racorded below. Bonk•rs Uoyds-TSB Colmor? ROW Birminghom, B3 3BP Invostm•ntadvi$er$ Rathbones Monogement Investment Ltd 159 New Bond Street Londtsn, WIS 2UD Ac¢ountqnts HA Century Houso, 1 The Lakes Northampton. NN4 7HD Stsllcltors Hempsons Sollcitors 20 Embonkment Place Londory WC2N eNN STRUCTURE.GOVERNANCEAND MANAGEMENT Governlngdocument The governlng do¢ument Is the Memorandum and Articles ol A$sockndon (MAA} that Is regularly revlewed by Council. The Soctety Regulotions further define the MAA. These documents ote published on the Societywebsite. Eleetlonof Trustees Elected Members of Council act as Trustees and Directors of the Soclety. The procedure for the electlon ol Trustees is set down in the Articles of Assoclotion ond lurther defined by the Regulations. In summary, Council comprises Ordinory Members ofcwncil who are elected by an opon process of nomination and, when AGM 2024
Annuol Generql Meetng 2024 nomlnotlons exceed the number of vacancies, by postol balbt of the Membership.. this ballot Is conducted by the Electorol Rglorm Sgrvioes ond Officèrs oflhè Society who are elected by Councll. Indu¢tlon •fTru$tses An Interntsl Inductlon programrne for Trustees exists. Trusièes receive on Induction pock that Includes Information on the statutory r¢sponsibilitl8s ol trustees ond dliectors, stru¢tuie ol the Soclety ond time- commltmentldutie$ ol a Trustee. At the tirntr of appointment Trustees ale requlred to contirm rheir gli91lIty to serve a$ o Trustee and cornplete o decluration of interosts form lor inclusion on the Society Declarolion ol Intèrests Register. In additiory the Society ollers the opportunity lor CFII newly appointed ond existing Trustees to attend troinin9 coursès on the roles and responsibilltios tsl Trusteès. The cost of these courses is met by thg Soclety. Paypollcylor staff The poy ol the senror staff and oll other staft is reviewed annLtolly by the Remuneration Commtttee that compri58s senior oflicers of the sixiety ond normully increased in occordonce With overag8 earnings. In view ol th8 nature of the chortty, th8 directors benchmorkagalnst lovels ol r8munoiotion In other not lor profit oiganlsatlons and learned societies. Durtng the past yeor, the Remuneratlon Committee rece5ved. consld8Te(I ond made their decisions Tegording solory support&d by the results ol o Salary survey inlormcrtion publlshed by HR Expèrt and the Prof8ssional Associations Research Network Organisatitsnul StructureAnd D8clslon MakSng The Council meets three timgs annually to eonsldet Statutory and financlol business and to determlna policy for th8 Chority. AdvlsoFy B¢)aids ure overseen by el8Cttd Officers ondlor Trustees ond are each fesponsiblg lor a molor orea of BSAC actlwty. Each ol the Advisory Boords hos delegated outhorlty tts cory out work agreed by Council and etseh report Its octivitie$ btsck to Council. Details ol the overorching structure, composition ond r8mitof eh Committee ore published on the Society W8bsite. Rl$kManaggmgnt The Tiustees octhowledge th•ir rèsponsibslity tD o$ses$ ond munuge the risks thot the Soeièty laeos orrright loce in luture. A consolldated risk register, devèloped using Charity Commission guidoncè, Is maintalned by the Society. Officers gnd senior stotl a fequirecl to identify and onolysa risks ¥SIant to theii respDnsibilitl8s, ossess risks according to their likely occurrence and impacr and report on procedu$ thot ore in ploce to monage the risks. Th8 rrsk manogamént process is overseen ond revtgwed by Council. To minimlse conflicts ol intères¥ the Society maintalns o Register of Interests_ fhose appoint8d to tsct on bèhalf of the Soc¢ety (Trustees Choirs ol working parties. èditors, referees, èt¢.) are requir to completg o d¢clorotion ol interests. fofry which is recorded centrolly ot BSAC HQ. Dèta¢ls obout the risk regisier ore published on the Society website. The risk reglster ond transporency declaratlons are updoted on an ongolngl as required basis. R•vl•wOI¢)bfv¢tlvo$. A¢tlvltlo$. A¢hlpvementsAnd Porlormoneo ObJ•etlvo9 rhe purpose of ttbs BSAC, as described by the 04ects ol the Socigty Is to'lacllltate the QCqLtisitlon and dissèmination ol knowl8dge in the field of antimlcrobial ch9motherapy." Between October and Januaryol each year Council ogrees o wogramme ol work for the lorthcoming yeor. This programme ol work includes o ronge of eductstional. meetlngs. gronr giwng and other octivitie5 Ihatore In accordance with, and oimed ot furthèrlng the obiècts ol thè Society. During tho year Council r6terencÈd. cdjust8d, and worked towards fuifilm•nt ol Its agreed strote9ic Iramwork. The strote9lc Iromework includas Mission statements, key mèssugès, ond degir•d dellverables relevont to th• current agreed objectivès ol thè Soci8ty. The oim of the stratggic Iromework and tlmetoble 1$ to enoble oll elected officers ond Council Mgmbers Ihe opportunity Ip b$ ocuvely Involved Sn settlrg the ogendu lorthe 6SAC
rfrLsh soclety forAntlml¢robtol Chemoth¢ropy future, without hawng undu& influence over 1¢ and regularty measuring progress and outcomes against it. An increasing number ol meetiros and events held onlinè or in person wth the option of online. with oth8ronlin8 actiwtl85 incraosinj rMelY educatlon, e-leorning cours&$ ond virtuol eonlereneos ond workshops. The Socièty continued to evaluate the ion9• of rssks and extornol influgnces the soclety was exposed to, induding likety Changes to thg ocademlc publishing mork8t ond the ch¢3nging noture of deliveryfor educatjon ond avents. Publlc benollt Thè Trustee$ hove feod the 9uidonca on public b¢nofit provided by the Charity Commission. The Society ensures thot its acttvltles ore os far us posslble to the publlc benefi't by gn5urlng F)atlontlpublic Ènvolvtrment ond the development of gdu¢gttonol Initiatives dlrectly olmed ai members ol the public. Durlng the past yeor Dr Nicholas Brown contintses to serve as the BSAC Direct¢x lor Prolessionol and Public Eng(fgement Serving as a c opted member ol Council and overseeing the work of thè All-Poity Parliumentory Group on Antibiotics and the advucocy work it undertakos tts raise the prohla ol antimicrobial resistonce withtn civil society. onts Trustees and the Grants Committee (when In sesslon} go to great tengths to obtoln due dlligence In the refereelng of grant oppllcotiorss and continues to support its policy ol only supportlng those applications that are ol o hlgh standard. To ensuie that the grant award piocess is os transparent as possible, the Soclety h(5S developed Stondord Operational Procedures lor Grants that are regulorty reviewed and updoted. No research gront calls were issutd by thp Society durlng the period,. £179,000 was expended OTr quolity improvement Initiotyves under the umbr811a ol the Global Antlmicroblol Stewardship Accredltotion Progromme (GAMSAS), o collaborative dispartties programme initiatlV8 with Pfizer. Edu¢ution During the Or the Society continuad io s¢Jpport thè dev81opm8nt ol eléar wg11-lund•d InittIVeS In oducatlon thot org designed to support the education ond training neods ol cllnlclons,lunlor doctor4 $CnE1sts, and te¢hnician$, in addition to ollied health professionals and thot are ol wider bgnefltto ¢hè p¢Jblic. Th? Society continued to develop ond promote ¢3 wide ronge of COUfS8S on ontimieroblal resistonce, ontimicrobiol stewordship and the pventIO diagnosis, and treatment ol Infection. These courses were underwritten bv gronts from externol sources ondlor funding Irom chorirable income. All courses ure openly ond freely(woilab18 to health care professioncls and other interested stakeholders globolty. including members ol civll Soety ond are housed on the Society5 Infection Learning Hub {www.infactionlearninghub.com). The Courses have oitrccted over 300.000 actlve learners from 6 continents ond o wid range ol Countries and Independent territories across the glob Confv¢n¢s andweblnars Throu9hout the period the society hosted a ronge ol in per$oTh hybrid and onlin8 conterences and webinors, th outputs of which tsre ovoiloble on demand 0$ recorded evgnts, ond for the Inlection Clinical Dilemmas 58ries include o-legrning courses that extend the value ond reach of tho learning providèd. Wbb(z$ed ¢ducatlonolresour¢es During the period the Society maintained the range ol educ(rtionol resources available wa its wèbsite. These Include.. Webcasts ond PowwPoint sl¢d& sets.. This focslity incr8gSeS the number ol Sndiwduols oble to benefit from th8 Soclaws educoiSonal programmes ond provldès vallble learnlng materlals for those unablg to attend mo8tlngs In person. These ore ovollable vlo the ptsst èvents F)Ortol, the Global Antimlcroblol Stewardship Hub (GASPHI ond the Keep Antimicrobials Working portol. Educotion around anttmicrobilll presciibing remoin$ 0$ one of the key stiotegiè5 for supporting antimicrobiol steward$hp activities, and both resources ond other e-leurning modules aim to educL)te orKI emFX)werheolth core prolgssionols to provide hlgh quality ond sole Infection preventiori ond manogement ocross heollh¢ore communit¢es thot 11 enhonce the health of the populatlons thgy $erv8. During thtr yoar the Society estoblished Its tirstjoint courstr with the World Heolth orgonis00ry which l¢d ¢0 dellvery ol a facllltated edvcotion on establishing ontimicrobiol stewardship seNces in hospitals across Egypt AGM 2024
Annud GenÈrul Meetyng 2024 The Society maintoln8d on open access repository of peer revlew and non-pegr rev18w rgsourcgs to support health care prolessionols ocross the globe to support the Wortd Heglth Organlsation global action plan on ontimicroblul resistonce. Durin9 the yeor the Society worked on the development ol a series of access Mosterclass TraIn9 Courses, launch ofwhich are sch¢duled for Spring 202 su$¢•ptlbllhyTo$1ing The Society continued to $LIPPgrt the Unitèd Kingdorn contribution to tho European Antimicrobiol Susceptitrjlity Testing methodology- EUCAST and und$rwrot a service provislon controct in thls area with Public Health Wales. Thls octivity lullils the ihree-maln chorltable objectlve headings as th8 Sociéty sducatgs heolth prolessiongls in sus¢eptibillty testing methodology, cgmmunicgtes outputs to the Membership ond wlder profession ond undertakgs ie$earch to ensure the European methodology 15 oceurote ond continually updoted. OutpatientParenteral AntimlcroblaJThenJpy (OPAY) The Society published on o dedi¢a¢ed website the (Mrtputs of its Outpotient Parenteral Antlmlcroblal Therapy IOPATI prole¢L which supports establrshtng treatment servlces lor serious infections In the home environmen The Soclety continued to suppo¢ through meetings und prowston of free at ptsint of use re$ourcès, the development and ImpEem6ntation ol servl¢e5 Withln the UK. The progrumme continued to support the Drug stobilily Initiative during the yeor to provide open aoeèss data on the stobility ol medicinès in elastomer devices, dotu currenuy not openly ovallable to the held. Detolls of oll work in progress can be reM8wed at ¥Nww.e-oprtcom. M¢pting$ rhè Soctety hosted gndlor participoted in maT)y national and Internotionol meotings during the year. All Soclety organiiad mo8tings, e-leornlng courses und webinors ara accredited for Continulng Professlontrl Development under the stotutory sohgm¢ op8rut8d by tha Royol Collegg of Pathologists, ond when opproprlot•, the Royal College of Physicians of London. The Soclety Is requirod. gs part of ihlg process. to Issu• svoILtation qvestionnaires for Èach Èvent. The responses provided by these ononymous iotums allow the Soci¢ty to monltor the efiectsveness ol Its actsvltie$ in this area and enablès meosuies for improvèmènt to be introduetrd. Mojorworkstreums Durlng the yegr the Soriety worked on the delivery and onword development ol thè followsn9 five major workstreomslociptie'. The United Kingdom AntimieiDblal Reglstry (UKAR). developed In portnership with thè Unlverslty of Abèrdeen. Is a piosp8Cttve study thut wlll secure lon9lt¥dinal data on the use of new ontimicrobial a9gnts ocross the Vi)ited Ingdom. The Globol Antimicroblal St6wordshlp Accreditation Schem8 (GAMSASI is a continuo¢Js quality improvement programrne that will drive Improvements In oppropriote Ltse ol ontlmKrobial prèscribin9 at healtheore facilitls across th& globe. The Globol Antimi¢robial StewardshSp Portnershlp hub IGASPH) 1$ o globolly collobortstive inltiativg a¢med ot lostering meaninglLtI and irnpoctlul portnership working across oll stakehoSder groups engaged tha developmènt ond uso of anttmicrobiul og•nt$. Kegp Antimlc¥obials Working (KAW) is on inltiotwo with representation trom the Socl8ty, medleal the VK and the Brlrlsh Pharmocologl¢al Society. Whllst InltSolly UK locussed thtr initiotive has international applicability ond olms to ensur8 ontimtcroblal prascribing Is lofmauy gmbedd8d wlthin th8 und8rgroduate currieula. The Paediotiie workstreom has published pathways for tho monogernent I treatment of infections in paediatric populations and includes peer reviewed good prg¢tice iecomrner¢dotiofts supported by open access a-le(trnln9 courses. The UK Poediatric Antimicrobiol Stewardship Group agreed to Come under the a¢gi$ ond lead8rship ol the Socigty duting the financlol yeGr ended 30 Septembsi 2023. BSAC Intgrnatlonal Desprtè Its rItISh. title the Society has on Iniarnotlonal membgrshlp. ond its pe8r raviloUrrI is ir*temotionally recogni$ed and renowned. Th15 15 also rofl¢cted in the activ¢tlo5 undertaken by thè Soelety. manyol whKh 8SAC
Brltish SocletyforAntlrnrthol Chernotherapy tnfluenea nol only UK wactlc* but olso contribute to the Shaln9 of intemational practice. opinion ond research. During the period. the Society hosted sessions ondlor supporttrd sp6akers ot many internotK)nal mèetirtgs arKI developed collaborativ8 relationships With several external group& Full dotails ol coJlobgrativ8 relatk)n5hip4 espgcially those fostored through GASPH Qfg published on tho BSAC wobsite. Publltrfa¢lng actlvltles Councll contlnued to lulfil Its aim of Improving public èductstlon obout Infactlon preventlon and approprlate use ol antlbloti¢s through a ronge ol activltles. Including Its gltsbrjl communlty prolect locussed inltlative Stop Superbu9s and thin thg VK through prowsion ol the Secretariat to the All Porty ParliamentgryGroup on Antibiotics. During the period the Societycontinue to odvocote the u56 1)f the e-Bu9 educolit)nol website that contrthtes to notional gnd Europe-wide curricula for primory school children. The So¢iety worked wilh the United Kingdom Health Socurity Agency (UKHSA) to revisa tha ¢-Bug tgo¢hlng matgriuls ¢Jnd roluunch tha overarching webslte. In addltiorK the Soclety contlnues to support onward development of k4ould rhe Muslcal, l)oth ¥¢hool ond professlonal versions, engaging with Her Malesvs Government olh"¢es In the US to secure Int8rnatlonol run$ ol the musicol in Washington OC. Atlanta. and New York City. works which wll continue into 2023 tsnd beyond. stop Sijperbugs Continued to provide support to local projects ocross the globe, with th¢ aim belng to offer modest but Impactful support to local projects that oim to prevent intection and imwove understondin9 ¢JbDUt ontimicrobiul resistance. During the year, and under the leadership ol the Stops Superbugs Coordinotor, the initiotlV8 developed a network of community projects thot meet tog8ther ro shore exper¢ences ond discuss opportLtnltltts lor onword devekjpment and colluborarion. The 50clety contlnugd to serva os secretortot to thè All-Porty Porliamontury Group on Antibiotics ond the group eontinugs to ensure thot the toplcs ol onllbiotlc discovery, developmgnt. ond r8SlStanca ro¢0ive the political Interest required to ensure Current gnd future oction. The sociÈty also supported two Interns who sgrved in the office of Baroness Natolie Bennet¢' these intern$hip5 were successful anLI impacrful ond the ouieomes of the work undertoken wos published on the BSAC website. Communication Thè Society continues to communicate wlrh its membership via many diflerent mediu, in¢luding its journul email, website. e-newsl8tters, and scientiftc meatings. Th8 Society worked on development of o new content managèmènt system (CMS) to improve effieiencles In dota monogement ond m8mbershiplstakeholdar engogamenL 7h& Societys website$ rgmuin one of the prlmary routes through which 85AC commvnlcates with the membership and wider cornmunity. The sites ore open to Members ond non-members alike ond provide visltors with easy access to ra$ourcè$ on ontimierobial ehèmotherapy ond Sts allied fields. BSAC contlnues to recognlse thè Important ot. ond extend Its reach vlq social media ouN8ts such as Twitter, Linkedln und Facebook ond used vlrol networking opportunities to deliver messag¢s opproprlote use ol antibiotics to publlc oudl¢nc¢s. Worklngwlth others The Societ$ relatOnshIpS with its sistar orgoni$ations, industry and government arè kèy In ensuring the SLtceesslul dellvery the Soci¢W5 og&nda. Tho Society continued to work with rnany organisotions thot ocross the globe, divgrsilylng engoggments outside of health ond pharmacgutical industry to include Investment bonks ond Intemodonal organlsatlons such as WaterAld UNICEF, Bollle Gifford Invostm&nts arKI Mediclnes Son Fronriors. The S¢clety ¢ontlnued to develop Its relotionshlps with all health prolassionol groups engagod in onttmicrobial use ond prescribing includFng those outside ol humgn heolth such os veterlnarfans, Qnirnal husbandry and enmronmentul scignce. Through tho inclusion ol ull relevant stakeholders in its aCtvitieS 8SAC ontinu8S to ènsure that there15 a unifted vole¢ on Infection prevention. deteGtiory and manogement in the tIL in ddition to worklng on the wldor impuct ot antlmlcrobiol in other sèctors (one health). The So¢ietyis mlndlul ol thè need to èngogtr moanin9fulty wlth pgtients to take on boord thelr view5 and meet AGM 2024
Annual Generol eIng 2024 their needs and does so throu9h representation In its activities as ond when appropriate, and eontinues to champion the need to establish a Pattents Charter to support patientcharities to support their members in gaining a bettèr und8r5tanding ol the importon¢e ol antibiotics ond thgir appropriot8 Usg. JAC Antlml¢roblal ReStance The Soclevs lully open cesS lournal launched in 2019- JAC-Antimicrobiol Resistonce (JAC_AMRI contynued to develop during the yeor. The education component of JAC-AMR is on innovative onltnè 18POSltory lor educational resources intended to support leorning ond increuss thowl6dge about antimicrobtol stewordship pructica, antimicrobial resistonce, behaviour change ond more, lor o worldwde oudloncg. The research Component wlll publish cllnlcally orlentecl opinlon4 reviews ond original orticles thot odvance the sclen¢e and krW1?9e of antimicrobiol reslstonce, stewordshlp ond usa ieloting to antibacterial. antifungal. anltVIToI tsnd ontiprotozoal ogents. The Journcl pvblishes primarily In humon medicintr, but ortiel&s in vererinory medicine will be considtrre prowded they lall wthin the scope of o regional of gl¢)bal'one health, oppro¢Jch to untimicrobiols. Journal otArstlmkroblal Chpmotheropy The Journal continuos to be r8eognzéd os a leoder in Its tield and Is one ol the mgjor routes by whsch the Soriety lulfils its educotionul objective$ to diss8minate information obout antim¢crobiol chemotheropy. Thg Journal contgnt bgwrnes Iregly ovailable on-llne 12 months olter PLblleotlon, thus bonefitlng the profegslon and con$umèr$ alike. othar glgnlllcantmattws The Soclety ¢ontlnued to work towards dlversificatlon ol Income streams durlng thls perlod, to reduc8 rtsk ot relionce on Income from thelournol ond contlnued to rewew Its supplier bose to ensure best value lor money nd ensure spread of rfs Flnunclal r*vlow The audited accounts lor the perfod l October 2022- 30 September 2023 ore Included In this report The So¢lety romains tinanciolly sound ond to muintaln this posltion, TrtJste9s Continued to review the So¢ieVs linancial plunnlTrg and budgetSng prog8dures. 0$ defined in tho linanciol standing orders. the Socletyls ythIn the infection oreno and os such there Is o dèmand for the semces It prov(des which, thIn a diffi'cultyfinan¢lal cllmtste for 5¢)me, provides reassuronce for the linanclol viubillty ol the Society. The Society adh8res to the principles IOT expenditure and expense cloim guidance thot is published on the 8SAC websita. The Society continued to operote an onnuol budggting and planning process. which wos over58en ond opproved by Councll, ond as of this perlod bullt aeeord4ng to th8 naw govemoncg struetur&. During tha p6rk)d the prlnclpal sourcès of funding w8ra income from thè Journal ol A Trtimicrobiol Chemothgrapy, ond revenue from meetlngs octlvltles In the form of delegate reglstration lees and unrestrictod &ducoUonol grcfntsldonotions trom Irtrdustry, 01 philonthropic donatlons. Income Irom the extemol publishers ol theJournol of Anth'microb(ol Chemotheropywos £l292,109 less external publisherfs exp¢n$ès £24785 reollsln9 nel Iorne of É1,044724 before additionol in-house editoriol costs. The Soclety is very grot8ful to severol phormaceutwl ond diagnostic companie5 that generousty promded unre5tri¢lgd gduc¢Jtionol grants thot enoblgd the Society to deliver 8ducational banefits throu9h meetings to delegot$s gt greotly ièdu¢trd, or ¢omplimentary, rotos As planned, counell spent £2,555.098 from the deslgnatgd tunds. the majorlty ol whlch was expended on tho SocieV$ puL4ic èngugement progrtsrnme. The gen8ral fvnd Is lary?Iy represented by the Investm8nt portfalio. whtch perlormed well In (T difficult market with reall$ed and unreollsÈd goins of £203,296. The Society doveloped revised contractual arran9èrrienls tor the supply of isolatès to ocodemic and commercial ¢ontroctors, primorily lor use In research projects. The Trustees Intend to retarn the investment portlolio to generate incorne that wtll 5UPPOrt the lon9-term lulfilment ol the Socl¢tY$ ¢horitobla obj•ctlVO$. To 8nwre complianca with tho lawos estobllshed bylhe Bribgry Aet 2010, Councll hos developgd and opproved an Anti-Bribgry pollcy Stotom¢nL a copy ofwhich Is publlshed on tha Soclety webslte. cou[1 remolns mlndlul ol the need tg •n$ure lunrJ$ ore cllspersed In furtherance of It¥ olms thiough u Tae of 8SAC
5tilh SocietyforAntimicrobial Chemlheropy haritoblé aetiv(tltrs. The Society now hos designated funds for luture ollocatton of funds to gront, education ond meetin9 activities. Further, the Society hu$ o Festricted lund through which it Supports the nationgl progromme of resistancg surveillance. Council hos chorged ttsell wth continuing to exornine the ronge ol gènerol, dèsignated, orKI rostrlcted fltnds its holds to ensure that monies are trunslerred dispersed on gronts, resistonce SUTvelllance, ar¢d educotson and rn9gtings o¢tivities in on opproprlate and tlm8ty fashion. Inv•stment5 The Society investment porttollo Is monoged by Rathbones Munggement Invostmgnts Ltd, with whom Offfcers or the SociEty mest on an onnual basis to revlewand discuss future pollcy for Soclety Inv8Strnents. Torget Income from Invèstments is set at glOO,OOOpa. Th8 Chorftfs Investments are monaged occording to the powers deftned by the MeMorarum ond Article$ of Association. A bolan¢ed Investment portfolio is maintained, ond the investment advisers have b8en charged with In¢0$Ing income from investments whi15t protecting the capital value of the fund, this being the policy posltion of Council. The Society hus ploc8d certain rp5triction$ on the way Èrb which th8 fund 15 monoged, Inclucling prècludlng bnvestments In narn8d pharmaceutical compunles to ensure conftlcts ol interesL perceived or real. do not arlse. R¢srv8s The Tiustees. policy is to mointain a level of free re$erves equivrjlent io not less than 24 months Èxpènditurè ond oim to hove a reserve for 3G months trxpenditure. This policy would enablg tha Soci8ty to ramain operattonal for beiween 24-36 rnonths {estlmoted ot £8 milllon Qguinst total fro$ ies•rv¢s of £8,893,945 and lulfil ils commitrn&nt5 In terms ol ièsearctrL gronts, educotSon, and meetlngs OCtfvitle4 somg ofwhich ara subject io a 3-year planning I completlon eycle. Tha1Ure The T¥ustges remoln confident thot ¢he Soclèty Is. throtjgh tha actiwti¢$ d8seribèd in this roport, linonclolly robust and will continue in meating ond furthering the aims ond objectives ol the Society. Through careful plonning ond Claboration wlth the Nlembership ord relevont externol or9anssations, Trustees will continue to delpr and dwfftlop these actiwties. The Trustees hove o reosonable expectction thot the charity will continue in operational existen for the loreseeoble fvturg and have. therefore. used the going concern bosis In preparing the linanc(ol statements. IndopendentAudliors MHA has indicated thelr willingness to eontlnue in oflice. A resolution to reappoint MHA os Indeper¢dent ouolitor will be proposed ot the next Annual General Meeting. This report wo$ approved by the Tiustee4 <Md signed on thelr behcjll by. 1&151iy OrChrlstoph•rLongshuw Trustee 10 ASM 2024
Annuol General Meeung 2024 Independent Auditors. report to the members of British Society for Antimicrobial Chemotherapy Oplnlon Wwe hove oudited the Nnanclgl statements of Britlsh Soclety for Andmlcroblol Chemotheropy {Iho'choritablg comp(Fny'l lor the yeor ended 30 S8ptembeF 2023 whlch comprise the Statement of Inunclal actlvltles incorporatlng Income and expendlture accounl the Balance 5heeL the Stotement ol cosh flows and the reluted notes, Including a summary ol signilicont aecounting pollcle5. The financiol reportr'ng fromork that ho$ been opplied in their preparation is applicable law and United Kingdcm A¢cgunting Standards, including Financial Reporting Starard T02 Thè Finoncial Reporting Slandard applicabl8 in the UK and Rapublic of Ireland. (lJnit8d Kingdorn Generally Accepted Accounung Pr(Jcti¢g). In our opinion the linan¢iul statements.. glve a true and lairvlew of the state ol the charitoble companys affoSrs os at SO sept8rnr 2023 and of Its Incomlng SOUrceS ond oppliwtion of resources. including its Income and èxp8nditur8 for the year th8n ended. hcwe been propgrly prppgred In occordance Mth United Xingdom Ggnerally Accepted Accountlng Pra¢ti¢e- and hove been prepared ir¢ accordonce with the requirement3 of the Companitrs Act 2006. Basls foropinlon We Conducted our audit In o¢cord¢5nce wth Internationol Standards on Auditing (ux) (ISAS (UK)) and opplicable low. Our responsiblllties under thc•s• standards r7re furth8r described in the ALKlitor's responsibilities fort oudit of the financiol $totements section olour report. W¢ ore independent of the charitoble compony in aeeordance wtth tho ethical requirements thut ore relevant to our oudit of the linanciol statement5 In the United Kingdom. Including thg Financiol Reporting Council's Ethical Standord. and we htsvg fulfi.lled our other ethical responsibiliti8s In accord(Jnce wlth these requirements. We believe thtst the oudir evKlence we hovg obtained t5 suflicignt ond appropriate to Prade a basis tor our oplnion. Con¢lusSon$ relating to golng concern In auditing the flnanclal stotoments, we have eonclutjed thar the Trust¢es' use of the going concern bosis ol occounting Tn the preporotion of the ftnoncbol stotements is oppropriate. Bosed on th8 woikwe have performed, we hove not identih.ed ony moteiiol uncèrlaintlès ralollng to evènts or ¢onditSons tha¢ individuolly or collectively, moy cost signlficant doubt on tho eharltoble company's obillty trj eontinLie os o going concem for a period of ot leost tefve months from when the flnoncial stotem¢nts a uuthorised for issue. Our responsibilitie$ and the respon$ibilities cil the Trustees with respect to golng concern are described in the r6l8vont sections of Ekns reporL othr Informutlon The Trustges are rèsponsible lor the other information. Th8 Oth8r inlomation ¢omprises the inlomiation includgd In the Annual rapof¢ othor than the fintsnclol statements and our Atjdltors report therèon. C*Jr opinion Dn the fi"noncial stotèments does not eovor thè other rnlormatlon and, except to tha extent othetwse explicltly stoled In our rèptsrL we do not express any torm of ossurance eonclusion thefeon. In connection with our gudit of the financial statements. our re$ponslbility is to read the other information ond. In doing so, consider whether the other infomiation is materially ineonsistent with thg tinuncial statement4 OTour knedge obtoined in the oudit or otherwise oppeors to be moterially misstated. Il w8 id8ntify such mate01 Inconslstenclgs or apparent matorial missiatements, we are laquirod to determin8 whether th8re Is o mot8rial mlsstotement In the lingn¢lol stotements or a moterlal mlsstotomant ol the other Information.11, bas8¢J on tho work we have performed, we conclude thot there is o m¢teriol mlsstatement of th1$ othgr Inlomatloryweoré required to report that faet. We huve nothing to rèport In this regard. SAC
liish sle1YfOrAn15ErobIal Chemoiherapy Matters onwhl¢h we aro roqulred to reptsrtbYexpt00Th W8 hov8 nothlng to report In respect ol the lolltswing matters where th? ehcrities (Awounts and Report$} Regulotlons 20Q8 requiYe$ us te report to you if, in our opinion= the informotion 9iv8n in the Trustees. report is inconsistent in any moteriol respect with the finoncsul statemt$,. or suffici8nt tsccountFng records hove not been k8pL' 01 tho ftnancial statements ore not in agr88ment with the acvnI1ng records ond roturns,. or we hove not received oll th8 information ond explanatlons we reqltire lor our audlt Re5pon$ibllltlesof trust¢es As explainad more fully in th8 Trustegs. Respr)nsSbilltles SlOtèrnon[ th8 TnJst88s (who or6 0150 the directors ol the charit(trble compuny lor the Purposes ol ¢ompany law) ale re$ponslb16 for the prepaiotlon ol the finonctal statements and lor being satlsfled thot they give o true and talr view, ond lor such Intemal control os the Trustees detemiine is ne¢essory to enable the preporotion of finoneial statèments thot ore frè8 Irom motgriol migstat8m&n¢ whether dtJ8 tg fraud or error. In preFxiring the finan¢ial statements, the Trustees ore r8spon5ibl8 tor css8ssing the chaTiiubf6 componls otjility to contlnus as o golng concerry disclosing. os applicable, motters reloted to golng concern and using the going concern bosls ot accounting unless the Trustees either intend to liquidate the charitoble companyor to ceose operations, or have no realistic alternative but to do so. Audltorf$ r•$p?n¥ibilitigsfortheauditof the linunelal stut•ments We hove been appolntecs Cfs auditor under the Compae¥ Act 2006 and report in accordance with the Act ond relevont iegulotions mode or hoving efleet th¢reundèr. Our objectives ore to obtoin feosonoble assurance about whether the financial statement5 as u whde ore Iro0 from moteriol mis5tat8menL whether dug to Iroud or orror. and to Issuè an Auditors report thot includes o¥r opinion. Reo50natsle ossuranc8 is o high level of ossurance but is not a guorontee that ¢Jn gudit condu¢tgd in accordance with ISAS (UK) 11 alwoys detèct a material misstotem8nt when it exists. Misstatements can from froud or error ond ore considered moterial If, Individutslty or In the a999¢te, they could reasonrjbly be expected to Inlluence the ecormi¢ decisions ol users token on the basis ol these tinanclal 5totements. Irregularitses, including Iraucj, are instances ol non complioneè th l(sw$ ond regulotions. We design proeedures in line with ¢wr rÈspon5ibllitie* outlined above, to detect moterial misstotements in respectof irreguloritlè5. including fraud. The extent tu which our procedure$ are ¢opoble of dettIn9 irregularities. inclu¢Jing fraud 15 detail8d below. Enquiry ol ¥nano98ment and those chai9ed th governance around actual and potenltal litigath?n ond cloim$', Enqulry ol ¢ntity $tgll to Idontily any Instances ol non compllance with laws ond Tegulgtion$.' perfornn9 audlt work over the rlsk of manag8m8nt overrrd8 Ot controls, Including testing oljoumol entries ond other adjustments forapproprltstèrs@ss and retrng oecountlng estimotes for bS0$,' Reviewing minutes of megtings ol those chorged wth governon¢e.' Reviewing tinonciol stotement discjosures ond testing to supportlng documentation to as$es$ compliarKe Wtth applicable kiws ond regulations. A further ¢Jescriptlon ol our r8sponsibiltties for the ovdit of tho financial 5tat8mènts is l¢xatsd on the Financlol Reportlng Councll's webslte at.. www.Iroorg.uklauditorsre$ponsibilitièS. This doscription forms part ol our Auditor$ r8port U50 Otourt•port Thls report Is made Solely to the charitobla ¢ompony'$ TnJstees, os a body, In accordance wlth Part 4 0llJ)g Chorfties {Accounls and Reports) Regulations 2008. Our audit work hos been undertaken so thot W8 rnlght stote to the charltoble companys Trustees tIse motters we ore requlred to state to them in on Audltor's report and for no other purpose. To the fullest extent permitted by law. we do not occept or ossume re5ponslbility to anyone other tIKJn the chorltoble company and its Trusteè¥ 0$ a body, for our audit worK lol this repurl orlor the oplnlons wa have formed. 12 AGM 2024
Annud General Meellng 2024 Rebe¢co Hu9hes BS¢ (Hons) FC¢A {SenForStatutoryAudltor) I01 LL/J 18 June 2024 lor on beholl ol KIHA. stutlttory Auditors Northumptory United Kingdom MHA is the troding nome of Mo¢lntyre Hudson LIP. o lifnited liobility portn8r5hip in Er¥Jland ond Woles (fg9lSte¥ed number OC3123131. MHA are èligible to act as ouditors ot S8Ctlon12T2 ofthe Companies Act 2006. BSAC 13
Brit15h SOcty fcrAntimlcroblol Chemothercpy statement of financial activities (incorporating an income and expenditure account) for year ended 30 September 2023 Unrestrlcted Restrlded fund5 furhds Total funds Total fvnds 2022 2023 As restated 2023 2023 Note INCOPIE FROM: Donations Charitable activities Investments 42,996 2,103,245 137 168 188,725 252.388 231.721 2,355,633 137 168 237,622 2,393,391 150 469 TOTAL INCOME 2 283,409 2 724 522 2.781.482 EXPENDITURE ON: Raising funds Charitsble activltles TOTAL EXPENDITURE 24,213 2 080 167 24,213 2.530,884 25.173 2,640.086 516 450,717 2 104380 450.717 2 555.097 2 665 259 NET IEXPENDITUREI I INCOME BEFORE INVESTMENT GAINS 179.029 {9,604) 169.425 116,223 Nel gainslllos5es) on investments NET (EXPENDITURE) I INCOME BEFORE OTHER RECOGNISED {LOSSES) AND GAINS 203 296 203 296 515 638 382.324 (9.6041 372.720 1399,415) Transfers belween Funds 16 65 65 NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES 382.389 19.6691 372,720 1399,4151 NET MOVEMENT IN FUNDS 382,389 (9,669) 372,720 1399.415) RECONCILIATION OF FUNDS: Totsl funds brought forward 8 641250 1247 358 88 608 10.288 023 TOTAL FUNDS CARRIED FORWARD 9 023.639 1237.689 10 261328 9,888.608 The notes on pag8s 22 to 35 form part ol th858 llnancial statements. 14 A(JM 2024
Annual General Meeting 2024 Balance sheet as at 30 September 2023 2023 2022 Not• £ As restated Tangible assets Investment property 11 1.090.981 550.000 1,078.4D7 550.000 12 Total tangible assets 1.640,981 1.628.407 Invesknents 13 5.892.070 5,704.606 7,333.013 7.533.051 CURRENT ASSETS Debtors 14 419,083 2.673.825 3.292,908 740,544 2.366,890 3.107.434 Cash at bank and In hand REDITORS: amgunls falling due wlhin one year 15 {564,631) (551,839) NET CURRENT ASSETS 2,728,277 2.555.595 NET ASSETS 10,261,328 9.888.608 CHARITY FUNDS Restricted funds 16 1,237,689 9,023.639 1.247.358 8,641,250 Unrestrided funds 16 TOTAL FUNDS 10.261.328 9,888,608 B5AC 15
British Soclety forAnUmlcrolJlol Chemotheropy The companls finonclol statements h(wo beon pr8par8d in accordara With the piovisions opplicable to componies subject to the small companies regime. The Tiustees consider thot the company is entitled to exemptlon from the requlrement to have on audit undèr the provlslons ol section 477 of the Companies Act 2006 ('Ihe Aet") and mombers have not required Ihe company to obtoin an oudlt lor the year In questksn in accordancè with section 476 of ihe ACL However, on altt Is r4uired In occordance with sèction 744 of th• Chtsriti8s Act 2011. The Trustees ackntswtedgè thÈlr rèsptsnslbilltie$ for complwng Wlth the Tequirèments otthe Act wilh respect to aeeountln9 records and the preparatlon of linancial statements. The linanciol statements were approved ond authorlsed for ISS by tho Trust8e$ and svJned on theli behaw, by.. IS DrChristoph*rLongshtsw Trustee The notès on pog•$ 22 to 35 form F)art ol thesè tinonclal $toi&mants. 16 AGKI 2Q24
Annual General Maeung 2024 statement of cash flows for the year ended 30 September 2023 2023 2022 Note £As resialed Cash flows from operating activities Nel cash {used inyprovided by operating activS1i8s 18 350,491 1125.731} Cash flows from Investlng activities: DividerKls. interest and rents from investments Purchase of tangible fwed assets Proceeds from sale ol Inveslmènls 117,264 (57,9891 373,019 (275,8501 112.821 145,149) 387,962 1309.765) Purchase of investments Net ¢ash provided byllu5ed in) Investing activlti¢s 156,444 145,869 Chang¥ In cash and cash equlvalents In the year Cash and cash equivalents brought forward 506,934 2,366.890 20,138 2.346.752 Cash 8nd cash equlvalents ¢arrled forward 19 2,873,825 2.366.890 The notes on pages 22 to 35 torm PLlrt ot thesè tinan¢401 statement> SSAC
Pth Soclety for AnmIcrObl1 Chemotherapy Notes to the financial statements for the year ended 30 September 2023 .ACCOUNTING POUCIES l.l Ggngral inlormatlon British Society for Antimicrobial Chemothetopy Is o private limited company limlted by guarantee and registered in England and Wales. Registered company number 04443910 ond chority numb&r1093118. The registered offiee and principal trading oddress 15 Grirtin Hous4 53 R8gent Place. Btminghom Bl 3NJ. .2 Bosis ol preparation oflnanolal statements The linandal 5t¢Jt8ments hove been propurod in accordanc8 Wtth the Charities SORP {FRS T02) Accounting ond Reporting by Choritles". Stot8mEnt of Recommended Practice applicable to charities preporing their a¢¢ovnts in accordonce with the Finuncial Reporting Standord applicable in the VK and Republlc ol Irelrjnd (FRS 1021 and the Companies Act 2006. 8rltlsh Society lor Antlmlcioblol Chsmotherfjpy meets the defSnltion of a public benefitentity under FRS 102. Assets and Ilabil&tiès are initially iecognised at hlstorical cost or transoction value ursless othetwlse stated in the relevant accounting policy. 1.3 Company sttsius Th• Company Is o eompany limlted by guarantee. The members ol tho company ore the Tru$te&s named on F>oge l. In the ev8nt of the compony being wound up, thè liabllity in r•spectol the gyaranteg is limited to £1 per mèmber of the compony. 1.4 Golng concern Th¢ fjMn¢ial stotgmonts hove been prop(Yred on a goiry conc8fn bosis. Tho Tiustoes have considered relevant informotion, including thè p05t yeor 8n¢J performonce ond the imwct ol Sltbsoquent evgnts in moking their ossessment. Bused on these as585sments ornd hoving regard to the resources availoblg to the entity, the Trustees have eoncludod that there is no material uncertainty and thot they can continue to odopt the going concèrn bosls in prèpttring the annuol report ond occounts. 1.5 Income All income18 18cognised once the company hos entltlement to the Income, It Is proboble thott income will be received. and the amount ol Income re1voble can be measured rellobly. Donot?d ser¥l¢e$ No value has been attrlbutè(L as omounts Involvad. where on obj8cEive value eon bo datemiln8d, are not mclterlal. RèSgor¢hgrantfunding Income receivoble to support ieseurch studles Is recognlsed at falr volue when the charlty hgs entltlement after any performancg condltlons huve b88n met, It Is proboblo that the Incomg will be rgc8ived, ond thè income ¢an bo mea5urgd reliably. If entitlement 1$ not m¢L rel8vant omounts arè deferred. FoieSgn ¢urren¢les Monetory ossets and liobllities d8norninated in foreign Qurrgncies ore trcFnslatÈd ot the rate olexch(Jng8 ruling ot thè Falonce Sheet date. Transactlons in foreign currencles are recorded ot the rtste ruling ot the date of the transoctlon. All dlfferences aro token to tha Stotement of Flnonclal Actlvltles. Quoted Investments und Inve$lm*nt property Quot investments are stated ot market value Ot the year end. Guins ond losses on dtsposal and revaluolian ol inv8Stments are charged orcredited to th8 SOFA. vestment properties ore revalued onnvally.. therefore no depreelatlon Is provided In respgct ot Inv8Stmant propgrties. The Trustees consider tha¢ because th8S9 propert$85 ar8 not hold for consumption but lor their investment potential, to daprociute them would not give o true and f(Tir view. 1.6 Expenditure Expenditure is recognised once there Is a legol orconstructive obligotion to trgnslèr èconomSe berft to a thlrd party, It Is probable that a transler ol economlc bènefits wlll be requ¢red in settlementond the 18 AGM 2024
AnU01 General Meellng 2024 amoijnt of obligation can be measured rellaL)ly. Expencllture Is classlfled byactivity. Th cost$ ol eoch actlvity ore modg up of the total ol dlrect costs and shor&d costs, InclLKling support wst$ Invoed Sn undertgkin9 each octiv5ty. Dlrect cost$ attributabl8 to o singlg o¢tivity ¢Jre allocated directly lo thot activity. Shared costs Yrfhich contribute to mor¢ thon one actSvlty and support Costs which are nct attributable to a SigIe actiwty are apportioned between tho$e activities on o basis consistènt with the use of resources. Central stoll costs ore allocated on the bosis ol time spen¢ and deweclalon churges allocated on the portion ol the asset's use. Governa? costs ore those Incurred In connèction wlth adminlstsatlon ol thg company ond compliarte wlth constitutional ond stotutory requirernents. Costs of generoring lunds ore costs incurred in attracting volvnlury income. and those Incurred in iroding activlties ttJot ral$8 funds. Choritable octivities on¢J Governance costs are costs Incurred on the company's opergtion4 including support co$ts ond ¢osts relating to the gov&rnance ol the compc7ny apportioned to choritoble octiwties. Grants payoble are chorged in tho y8or when the offer 1$ modè excèpt in those cases where the offer is eondilionol, sutrh gronts bein9 recognised as expenditure wh8n tha conditions attaching ore fulfilled Gronts offered subject tg condltions whSch hove not been mot at th¢ y¢ar-end aro not8d as a commitrnenL but not accrued os expendSture. 7.7 Tan9lblg tixed Li$$et$ and depieelgtlon All assgts C05ting rTr)re thon £LOOO are ¢opitollsed. Tangible lixed assets ole eorried ot eosL net of d8preciclion ond ony provlsion for impairment. Depreciation is provsdèd at rates col¢ulated to write off the cost of fixed assèts. less their estimatsd residuol valuè. Over their eKpe¢ted useful lives on the followin9 bas8S'. Freehold property (exc. lond) 2% straight linè Property improvements- 20 ygors str05ght lin Computer and other equipment- 25% straighl lirse 1.8 Investm8ntB Flxèd osset Investments are a form of firianelol Instrument ond are Inltlally regnISed at thoir transoctlon cost and subsequently maosLtr8d at f(zir value at the Bolance sheet date, unless fair valu8 cunnot bg meosured reliably in which cas8 it is measured at cost18ss irnpairment. Investment guins ¢Jnd IDssE4 whether reolised or unreolised, ore combined ond shown in the htading'Goinsl{losse$) w Investments. In the Statement of finoncial octs"vities incorporoting income and expènditurè oceount. 1.9 Intsrestree*lvoble Inter85t on funds hekl on daposit 1$ Includ8d whan receivoble and the amount can b8 meosured reliabty by th8 coryony.. this 1$ rtormalty upon notificotion ol the Interest patd or payablo bytht Bon I.IODèbtors Tiode ond other debtors ore recognSsed at the Settlernent omount 0ft8r any trode dlscount ofiero(L Piepoyments ore valued tst tho omount proFJaid net of any trode discounts due. .11 Cts$h ot Bunkond In hond Cash ot bonk and in hand includes cash and short term highty liquid Investments with o short moturity of three months or less Irom the date of acquisition or opening of the dgposii or slmllar occounL .12 Llobllltle$ and provlslons Uabilitles ore recognlsed when there 1$ an obligotion ot the Balcnc• sheet date us o result ol a 5t ever)¢ It Is probable that a transfer of economic benefit will be required In settlement, ond the a?unt of the settlement ctsn be estimatéd reliably. tlabilities ore recognised at the omount that the company anticipates Ft will pay to settle the debt or thè tsmount It has recelved as advanced puyments for the goods or setvlces tt must prOde. Provlslons are measured ot the bèst 8stlmate of iho ompunts requlred to settle the obligatiork Where the ellect of thè time valLte ol money is matarial, Ihè provision is bosed on the present volue of those amounts, dlscounted at the pre-tox discount rot8 that lef1t$ th8 risks specific to th8 liabllity. The unwTrnding of th8 dlscount is recognrs8d withln interest poythjlg ond similor charges. BSAC 19
riti5h Soci8tyforAntmlcrobitsl Ch8motheropy 1.73 Flnun¢ial instrument5 The company only hos financial assets ond fina101 ITablllll•s of o kSnd that quolify os bosl¢ finan01 instruments, 8astc fi'nanelol Instruments are initially recogn1s8d ot transaction valué and subsequently m•asured ut their settJem8nt volu8 With the &xc6ption of bonk bon$ which ore subs8quentty meosured at ornortised cost using elfectiva interest method. 1.14 Fund occounllng General lunds are unrestricted funds whl¢h arg ovoiloble for Ltse at thg discrètion ol the Trusteas in lurtheron¢e rif the ganerol oblectives of the company and which have not boèn daslgnot8d lor other purposes. Restricted fund5 oro funds whlch or8 to be us8d in accordance wlth speclnc restrictions Imposed ty donors or which have b88n raised by the company lor particulor purposes. The costs ol raising and administerin9 such lunds are charged against the specihc fund. The olm ond u$8 01 e(tch restricted fund IS Set out In the notes to th8 fi'nanciol st(ttements. 1.15 Crltlcal a¢wuntlng •stlmate$ and aroa$ olludgment Estimat8s oncl judgments ore ¢ontirually evoluctod and ts based on historicol èxperience and other lactors, including expectotM)ns of future events thot ore believed to be reasonoble under th$ circiJmston¢es. Sources ol estsmatlon uncertalnly.. Depreciation on tgngible as58ts Investment property voluations are basod on property morketdata ot the year end. INmFRoM DONATIONS Vnrestrlcted Restricted funds funds 2023 2023 Total funds 2023 Total lunds 2022 Voluntary income.. subscripiions Sundry Income Antibiotic Guardian Grant income 7,124 35.872 7,124 35.872 9,745 178.980 S.500 50.172 2,029 179,921 9.745 178,980 Total donations and legacies 42.996 188.725 231721 237 622 Total 2022 207,567 30.055 237.622 INCOME FROMCHARifABLEA¢TivmES Unrestri¢ted fund5 2023 Restricted funds 2023 Totsl lund$ 2023 Total funds 2022 Education Comrnunicalions Research 792,829 1,292.109 18,307 17,388 810,217 1,292,109 253,307 570.931 1,317,460 505,000 235,000 2 103.245 252 388 2 355 633 2 393.391 Total 2022 1860.431 532.960 2 393.391 20 AGM 2024
Annual tsen&rtsf Meeting 2024 EDiICATION 2023 2022 MOOC OPAT Spring Meeting Winter Meeting E Bug Webslle Other meelingslworkshops E Leaming Project funding 10.888 29.712 121.628 138.062 12.338 175,139 317,397 5.050 56.023 84,444 151,199 81.418 169,887 27.960 Total 810.214 570,931 COMMUNICATION 2023 2022 Income arislng from the society joumal and supplements 1.292.109 1.317.460 Total 1292,109 1,317.460 RESEARCH 2023 2022 UI(AR AMR Consultsncy Services 235.000 18.307 505,000 Total 253 307 505.000 IHvÉ$rMENTINCOME Unrestrlcted Rastrlcted fund5 fund$ 2023 2023 Total funds 2023 ToL71 fiJn¢Js 2022 Rental incom Listed Investments Bank Interest and other investhienls 8,593 117,264 11.310 8.593 117,264 11,310 36.468 112.821 1,180 137 168 137.168 150,469 Total 2022 150469 150.469 BSAC 21
Br5tish Societyfor Antbnlcroblal Chemotheropy DIRECTCOSTS Communlca Total 2023 Total 2022 Education Research As restated Meetings Sensitivity lesling Resistance surveillae Joumal- edilorlal fees Journal- direct publishing Research grants Stewardship surveillance UKAR Staff training MISlIaneOUS Olhor indired costs Wages and salaries Natlonal rnsurance Pension costs E Learning NORS Drug stability Event refund Irrecoverable VAT Public professional and wlitical Engagement GAMSAS 422,916 422,916 20,733 29,630 243, 127 247.385 263,288 497.658 31.189 37,520 147,639 306.641 237,964 28.700 78.770 20,733 29.630 243.127 247,385 263,288 141,567 1.391 2.316 102,378 102.960 44.099 49,719 90,748 1,431 20,915 141.567 1,391 2,316 307.133 308.879 132.295 149,157 90,746 1,431 20,915 575 748,143 610.001 60,090 198.435 171.921 102,377 102.960 44,099 49.719 102.377 102,959 44.098 49.719 40.578 (20,277) 23.611 23,611 32,435 32,435 22.447 2 461,402 22,447 1026 496 822 102 612,804 2,575 547 Total 2022 1548,226 369.240 658 081 2.575.547 0ther1nd1rtl1tscUtedro¥ts Other in¢Yirect ollocated ¢gSts principally compris8 of prolèssloncEI f888. computer costs, prèmis&s und accomodation costs of the Soclews HooLlquart•rs. Wages. ntstional in5uranc• and penslon costs It has been d8eided, following on increase in ce st(fft. that stafling costs will from 2017-18 onwards be split equally across the three charitable obleetlve headings of research ¢ommuni¢otion ond 8ducoti(¥). 22 AGM 2024
Annuol Gen¢rtsl M99ting 2024 EDUCAYION- MEETINGS 2023 2022 Spring meeting Winter meeting ARM Mould the Musical underwrite ECCMID Paedialric Conference OPAT Conference and Workshops Intemallonal AMS Projects Antimicrobi81 Chemotherapy Conference Gram Negative Conference Infection Clinical Dllemmas Pneumonia Webinars Russia Round Tablè UTI Conferenco NAP Workshops BCP Project Funding 118,993 92.369 76.079 54.430 23,822 160.000 9.631 6,646 34,208 32,000 2.000 18.908 32,800 9,800 35,834 1,500 392 33.060 56,437 19,348 6,863 10,216 36.711 25.349 18.594 2,084 Total 422,916 497,658 RE$EARCHGRANVJ 2023 2022 Covid-19 263,288 237.964 6. GOVERNANCECOSYS Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total tunds 2022 Atjdiloi's femuneralion Audilorfs non audit costs Travel 51,209 11,791 6,483 51.2Q9 11.791 6,483 8,435 25.317 30,787 69,483 69,483 64.539 8SAC 23
BrEth Society lor Anrimlcmblol Chemotherupy ANALY$I$OFEXPENDifvREBYEXPENDITVRETYPE Other costs 2023 Total Total 2023 2022 £ £As reslaled Expenditure on investment management 24,213 24.213 25,173 Costs of ral$lng funds Education Communications Research 1,026,496 822,102 612,604 1,026.496 822,102 612,804 1,548,226 369,240 658,081 Charitable activities 2.461402 2 461402 2.575,547 Expenditure on governance 69,483 64.539 Totsl 2022 2.665.259 2.665,259 NETIN¢OMEI(EXPENDITIIRE) This is slated after charging-. 2023 2022 As restated Deweci81ion of tangible fixed assets- - owned by the charity Auditorts remunerElion- audit Audilorfs remuneratlon- other services 45.415 51,209 11.791 45,317 B.435 25.317 During the year. no Trustees reiVed any remuneralion12022- £NILI. During the year. no Trustees received any benefits in kind {2022- £NIL). STAFFCOSTS In thè year ended 30 September 2022 5 members of $tsff r8cafvad redundancy setuemenls tota1ng £126.494 (Penslon £29,901, redundanw £96,593) Th$ avera9e nLtmberof pèrsons employed by the tharitablo ¢ompany during the year was as follows: 2023 2022 Employees 13 24 AQM 2024
Annud Senwol Meeting 2024 The nUmr of higher paid employees was.. 2023 No. 2022 In the band £60,001- £70.000 In tha band £8Q,CN)1- £90,000 In the band £90,001- £100.000 In the band £100,¢J01- £110,000 One of the above employees Is consfdered to be a key management personnel. The total amounl of ernploye8 benefits (including employer pension contrfbutionsl received by key management personnèl for their services lo the charity was £110,450 (2022- £106,910). Total staff costs for the year arnounled to £59Ql.331 12022 - £868,526) including Employers National Insurance of £39,15112022- £60,090) and Employers pension contributions of 149,15712022-£198,4351. 10. GRANTCOMMITMENTS At 30 Seplernber 2023 the totsl of the Charitys futu gr8n15 payable We as follows.. 2023 2022 Grant eonwnilments 320 867 432.828 TANGIBIEFIXEDAS$ET$ Freehold property Computer and other equlpment Total Cost At 30.9.2022 a5 originally staled Prlor year adjustment At 1 O¢lober2022 r95ts1ed 1,295.954 37.924 1.333,878 193,328 7.225 200.553 1.489,282 45.149 7,534,431 Additions 56.526 57.989 At 30 September 2023 1.390.404 202,016 1.592.420 Depreclation AI 30.9.2022 8$ oiiginaly slated Prfor year adjuslmenl At 1 Ocl¢ber.2022 restated 257,791 2,783 260,574 192,289 3.161 195.450 450.080 456,024 Charge 42.921 2,494 45.415 AI 30 September 2023 303.495 197.944 50IA39 Not book Value At 30 September 2023 1,086.909 4,072 1,090,981 At 30 Seplember 2022 reslaled 1,073,304 5,103 1.078.407 Detail$ of prior year adjustments can be found at Note 23. B5AC 25
8rFtlsh So¢(etyforAnllmicroblol Chemotheropy 12. IKVESThIÈNTPROPERTY Long term leasehold investment propety Valuatlon At l October 2021 ond 30 Septemb8r 2022 550,000 The valuatign rellg¢ts market movemènts and takes into occount expected rentol yields since the Eost voluotion performed in 2017 by Mr M Cook of KW8 Propety Monogement Limlted, who is o churtered surveyor nd on RCIS Regl$ter6d Vuluer. The trLt$tges consider this io b8 an oecurute rèflection ol the propgrty vcslue 05 at the bolonce sheet dale. Durlng the yeor ended 30 September 2021, the society ogreed to gront L) purchase option on the propgrty to o third porty developer lor a value of £830,838 (exclusive of VAT). 13. FIXEDASSEfiNVESTMENTS Listed $ecurilie$ Market value At 1 October2022 Additions Disposals Revaluations 5,704.606 275,850 373.019 284.633 AI 30 September 2023 5 892 070 Quoted investments Cost 2023 Market value Cost 2022 Market value Fixed interest securities UK Equities UK Equlties overseas Altem8tive$ 1.019,958 1.280,870 1.405.183 552,659 982,260 1,784,764 2,442,190 682.857 1.117.125 1,279.698 1,403,952 552,658 1,043.804 1,636,fj86 2.305,350 718.764 Total 4.353,433 5.704.604 26 AGM 2024
Annuol General K4eeting 2024 14. DE8TORS 2023 2022 Trade debtors Prepayments and accrued income 361,047 58,036 674.527 66.017 419.083 750.544 15. cRrrORS.Am•untSIMll[9¢YAth1n0n*VoqI 2023 2022 Other tsxalion and social SeIlty Other creditors Accruals and deferred income 10,394 315,274 238.963 48,392 54,658 448,789 551839 Deferred Income Deferred income al 1 October 2022 Resources deferred during the year Amounts released from prevlous ye8rs 333.883 146,243 333 883 Deferred income at 30 September 2023 146,243 Deferred income comprises rentsi income and project incomo received in advance. BSAC 27
8ridsh SocietyforAnUmlcrobl Chgmothgropy 16. STATEMENTOFFUNDS STATEMENTOF FVND5- cuRRENTAR Balance at 30 G4lnsl September ILosse$} 2023 Balance at 1 October 2022 As restated Transfers Inlout Income Expenditur• Unrestrieted funds Genèral fttnds 8 641 250 2 283 409 2104381 65 203.296 9 023 639 Restrlcted funds Reslstance surveillance Donations re. Covid-19 Sponsor of Webinar EdLalloal grant Untversity ofAberdeen 11.938 432.828 125.453 79,026 (11.9381 62.814 263,288 232.354 125,453 79.026 IUKARI Drug stability EbLtg Website Antiblollc Guaidian Grants GAMSAS Proiect Gonts Income Abu Dhabi Quality Improvement 471.230 111,554 14.500 829 235.000 141.567 20,915 564,663 90,639 26,838 12.338 9.745 97.952 22.447 11,873 97.952 18,214 18.214 BCP Project Fundln9 5.050 2.5 2.550 1247 358 441 113 65 1.237 689 Total of funds 9,888,608 2,724.S22 2,S55.098 203296 10261,328 sTATEmETr0FFuND5- PRIOR YEAR RESTATED Balan at 30 Galnsl September (Losses) 2022 Balance al 1 Odober 2021 Tr8n51ers inlout Income Expenditure GeA8ral Funds- all funds 9.186.902 2.218.467 2.258.726 515.638 8 641250 Rastrlcted funds Rasrstance surveillance Donations re. Covid-19 Spanish translation of the EWMA Wound Management Course Sponsor ol Webinar Educational grant Unlvei&ty ofAberdeen IUKARI Drug Stablty Ebu9 Website Anlibioli¢ Guardlan 49.459 670.792 137,5271 {237,9641 11.938 432.828 10.245 97.493 76.000 {10.245) 27.960 3.026 125.453 79.026 45,000 152.132 505,000 {78.770) 140,5781 110.500) 11.200) 471,230 111.554 14.500 829 25.000 2,029 1.101,121 563.015 10.245 1.247 358 28 AQM 2024
Annu&l Ganeral Meetirg 2024 SUMMARYQFFVNDS- ¢URRENTYEAR Balance at 1 October 2022 A$ restated Balance at 30 Galnsl Septembèr {Loss05) 2023 Transfers inlout Incom• Expenditure General ftmds 8,641.250 2.283.409 2,104.381 65 203.296 9,023.639 R85tricted fund5 1.247.358 441.113 450,T17 {65) 1.237.689 9.888.608 2 724 522 255 098 2Q3 296 10 269 328 $LIMMARYOF FUNDS- PRIOR YEAR Balance at 1 October 2021 ¥$ restaled BalancE at 30 Gain51 Sepl¢mber (Losses) 2022 Transfers inloul Ineome Expenditure General funds Restricted funds 9.186.902 1.101,121 2.218.467 12,258.7261 563.015 {406.533) 10.245 (10245} (515.6381 8,641,250 1,247,358 10.288.023 2,781482 2.665 259 515,638 9,888.608 17. ANALV51$0FNEfAS5ÉYS BETWEEN FUNDS ANALYSISQFNET ASSETS BETWEENFUNDS- CURRENTAR Unrèstrlcted Restr5cted funds funds 2023 2023 Total funds 2023 Tangible fixed asstrts F¥xed asset investments Investment property Current assets Creditor5 due wlthln one year 1,090,981 5,892,070 550.(100 2.055.219 564,631 9 023 639 1.090,981 5,892.070 550,000 3,292.908 1,237.689 1237 689 10 269 328 ANALYSIS 0FMASsETs BETWEEN FUNDS- PRIOR YEAR-AS Mstot•d Unrestrided funds 2022 Restricted fvnds 2022 Total lunds 2022 Tangible fixed assets Fixed asset investments Inveslm8nt property Current assets Credltors due wlthln one year 1.076.407 5,704,606 550,OCNJ 1.860.076 IS51,8391 1.078.407 5.704.6D6 550.000 3.107.434 1551,839) 1.247,358 8.641.250 1247.358 29
grftlsh Socl8tylor Ant+rrlcrobkilChemotherapy 18. RECONCILIATION OFNETMOVEMENTIN FUNDSYONETCA$HFLOW FROMOPERATINGACTivmE$ 2023 2022 As restated Net (expendltureifincome for the year (as per Slatement of Financial Acttvities) 372,719 {399,415) Adjustmènt for: Depreciation charges Lossesl{Gains} on investments Dividends. interest and rents from Investments {Increase)Idècrease in debtors Increase in crediiors 45.415 (284,633) 1117.264) 321.461 12.792 45.137 514.298 1112,821} 1362,5521 189.622 Net cash {us¢d Inyprovided by operatlng activities 350 490 125731 ?9. ANAtYS150FCA$HANDeASHEQVIVALÉNTS 2023 2022 Cash in hand oney Held by Investment Manager 2.532.490 2.081.6B2 285.208 Total 2 B73 82S 2.366 890 2Q. PENSIONCOMMITMENTS The compony operotes a defined contributlon scheme. The pension cost ¢hargè for the year represents contrlbutSons payoble by the company to the scheme arsd amounted to £149,147 {2023- £198A351. 21. OPERATINGLEASE COMMifMENYS At 30 sèptember 2022 the totol ol the Charltys tLrture mlnimum leose poyments under non-canctlloble operoting leu$e$ was.. 2023 2022 Amounts payable: Within 1 year Befvleen 1 and 5 year5 13.981 13.981 24.466 Total 38.447 21 RELATED PARTYTRAM$A¢TIONS 9 Truste85 of the eharitoblè eompony receId £7.750 (2022 5 TTUSt89s elTS1} In relation to reimbursed expenses lor trgvel ond 5ubsistan¢e incurred 05 Purt tsf their role as trustees. In total thè charitable ¢ompony pald £9,686 (2022 £30,787) to thiid portSes lor trov81 ond subsistence ol trustees Ipr eKpenBes incurred os part of their rolo 05 Trustee and tar speoklng ut conferences, evgnls and otherwSse ièpresontlng BSAC. 30 AGM 2024
Annuul General IAeg1ing 2024 23. PRIOR YEARADJUSTMENT A ieview of past years" aecoLtntlng rècord$ has identified £37.924 of propertyand £7.225 of computer expendlture which should have been copltolised ut 30 September 2022. The 0s50¢sated depreelation is £1783 in r8sp8¢t of property expenditure und £3,161 in respect of Computer Eypenditvre. Thg nat ellect is tr) incr8ase reserves brought fOard by £39,205 incroose Fixed Assets brought lotword ond docreusg expenditure in the yeor ended 30 Sèptember 2022. 31