EUROPEAN SOCIEfY FOR
VASCULAR SURGERY
REPORTS AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021

European Society For Vascular Sur8ery
Reports and ftnandal ststementslorthe year ended 31 December 2021
Contents
Pale
Trustees. report
Report ol the independent auditor
Stolernent5 of financial activ￿e5
io
Balance sheets
12
Consolldated statemtnt of cash Iltsws
13
Notes to the financial 5tstements
14

European Society For Vascular Sur8ery
Trustees, report lor the year ended 31 December 2021
The tnjstees, as directois of the tharltsble tompany for the purposes of company law, preseni their report and financial
staternents for the year ended 31 December 2021. ThLs report meets the requlrements for a Directors. Res)ort for the
purposes of the Companles ACL
A1rn5 and oblertl¥
Purposes ond aims
The Society delines its mission as being to Improve vascular health for the publlc beneflt by..
Promotlng high qualtty research,.
Provldlng educatlonal opportunftles,-
Or£anlslng meetlngs semlnars. workshops. lectures and conferences. both on-llne and in pers¢Jn;
Sponsoring Its Journals (European JourrtoloA Vostulorond Endovostulorsurgery IEJVÉSI and EIVES Voscular Forum;
15suin8 Clinical Practice Guidelines on the treatrnent of vascular disease..
Promoting dialogue with National Societies and others involved in the treatment of ¥ascular disease,. and
Advlslng regulatory authorlties on matters relating to vascular disease.
In order to lurther its objects and athleve its mlsslon, the k<lety and subsldlary companles undertake a varlrty of
attivltles. detalls of whlth are glven btlow:
Annuolconjereftce
The Annual Conference ha5 been held every year 51nce 1987 In dffterent European cities. which are selected oround fve
years In advance to allow for the necessary plannln8. The Annual General MeetOn8 of the 5gciety Is also held during the
Annual Conference, The pvogramme ol the Annual Conference con51sts of scientifi¢ 5esslons, workshops and symposla,
b5tract presentatii)ns, a trade exhibffiion together with a Social Programme ond opportUb)itles for informal networkln8.
Tronslotionolmeeting (previotssfy Spring Conftrentej
The Society held its first Sprin8 Conference in 2013 and the event has been repeated annualty since then. The event was
conceived on a smaller xale than the Annual Conlerence and consists of a number of Sclènt5flc Sessions Includln8 a
keynote lecture and a serles of absiract presentatlons. In 2020, the declslon was taken to chan8e the format of the event
50 that It becamè a blennlal evént. altemating wilh the b￿nn1a1 European Symposium Of Vascular Biomateda15 Symposlum.
Edurotionolpro¢romme
The Soclety offers z programme of tralnlng courses not only at the annual conference but also at other tlme5 tfrrough the
vear. Sur8eons wlth skllls In the specific area beln8 covered act as tutors. and, whi15t the courses are offerèd to all
n*mbtrs of the S(Kbety, they are prlmarily alm*d at surgeons 5tlll In tralnlng.
In 2019. a new concept for tralning was Introduced with the launch of ESVS Masterd@ss Livt. a two day event whlth
Included commentary on live operation5 wilh direct vldeo link to the operation room5 as well as dTstU$5i0ns and lectures. It
wa5 possible not only to attend the event in person. but also to attend -virtually" by re8lSterin8 on 1088ln8-on through the
Societ15 web￿te. Edited vide05 of the event are è150 available and constituted the embryonlc sta8e of an on-line reference
e-library. which is available to members of the Society-
The e-library referred to in the para8raph above now also indudes a Yirtual Vascular. textbook. which Is In the procèss of
bein8 written with individual chapter5 being Izunched a5 they are cornpleted. It 3150 includes a series of podcasts and other
resource5, made avallable to members.
The Soclety offer5 a series of wèb5nars. which featured vascular expert5 discussing speeiallst topics. These are also
avallable to members after the Ilve"broadcasf.
All members of the Society have elettronk acctss to the Societys ioumals, which are owned by the Soclety and managed
by European Vascular Surgery Journals Limited IEVSILI. a subsidiary company of the Society. The profits generated by this
company a￿ returned to the Society. For an addttional fee, members can elecr to receive a paper copy of EJVES each
month.

European Society For Vascular Surgery
Trustees. report for the Yearended 31 December X121 Icontlnuedl
Aims and objètlivtt lu>ntinued)
Industryportnerships
The Charity activdy works with a number of medical device and phamaeeutical companies. which make a donatlon to the
Society lor one ol its subsidtariesl and become -Industry Partners~. The Society 3150 welcomes sponsorship of particular
events, although It malntain5 its suentifK independence from such sponsors.
Gronts
The Socl*ty Current￿ offers Educational Travel Grnnts whith alm to allow successful applicant, over a short pedod of
tlme, to look at a partlcular technique or research project in a European in5tltution.
Voscunet
Va%uThet is a collaboration of vaxular reglstries that Was established to improve the quality, safety and effectiveness of
vascular healthcare In Europe and Australasla. The focus of Vascunet is the development of high-quality international
regittry data in vascular surgery. whlch supports anafysis of vascular sur8lcal outcomé on an international level and feeds
Into quality improvement projects in multidisuplinary vascular mediune nationally and intematlonallv.
Adrninistrtst￿rt
In 2018 the Trustees took a declsion to re-establlsh an admlnlstratlve office speclfically for the Society, which assumed
rt5POn5ibility foi the So¢ieWs adminisiraiiort in December 2018. The office is located in Bordeaux, France, and operates
through an wholly-owned French subsidiary ISASU ESVS France). SASU ESVS France is responslble for *mployin8 the staff
who work In the office and lor pro¥ldln8 the offlces and equlpment for those staff.
A<hl•vements and pertorniance
The Soclèty's achle¥tments and performance are based on thé actfvltles stated above.
Membershrp
At the end of 2021 the Soclety had almost 2.8￿ members of whom over 700 were tralnees. The Trustees Ore actively
workln8 to Increase the number of members, concentratln8 on rhose countrles where the proportlon ot vasc￿lar Surgeons
elertlng to loln the Society Is lower than ml8ht be expected.
Annut71 Conference
The 35 Annual COnfe￿nce was or1g1nal￿ planned to take place In Bewast. Unired Kln8dom in September 2021, and Inltial
preparations were underway when the Covid-19 Pandemic struck. Earfy In 2021. having staged an on.llne event in plate of
the planned 2020 Annual Conference, the Trustees took the decision to repl￿ the planned event with a Hybrid Meeting
amprf￿Th8 an on-slte element based In Rotterdam. Netherlands. and a parallel vlrtual prtsgramme.
Tronslotionalmeetlnq
The ESVS Translational Meetln8 is a biennial èvent and was not dué to take plate in 2021.
Vuscurtet
In 2021, Vascunet invesied in new systems to ensure Ihat its data-collection remained fully GDPR-compliant. It 3150 tssued
port on PAD treatment.
Journals
The most recent￿ published ISI Impart Factor of the European Journal of Vasculai and Endovascular Surgery IEJVESI Is
7.069. once again the highest ever recorded by the Journal. The impart factor is a measure of the citations from a 8iven
source. as defSned by the InstStute for SCIen￿fic Informatlon. Slnce January 2020 Members have actively had to choose to
receive EJVES in prlnted fom and pay an additional fee for doin8 $0. Around one ihird of the rnembershlp chose thls
option in 2021.
Ouring 2019 the declslon was taken to r&launch the Socletvs second lovrnal from January 2020 a5 an interactlve on-llne
publication EJVES Vosculor Forum. Thu$ 2021 was ihe second year of publlcatlon for EJVES Vosculor Forum, whlch
continues to develop it5 content as an alternatwe to EJVE&

European Society For Vascular Surgery
Trustee< reput for the year ended 31 December 2021 {contlnu•d)
hlevements and p•rtormance (contln¥edl
Educotionolpiooromme
The ESVS Academy had planned ¢0 provide a number of trainin8 courses durin8 2021, althou8h only one actually took pla
la person and a serfes of on-15ne Interyentoons was organlsed. CME tredrts wete awardÈd to those who attended thè
workshops.
The two initlative5 launched in 2019. ESVS Mastercl@Ss Livè 3nd ESVS Webinars, contlnued In 2021 both of whlch were
able to contlnue throu8h the pandemlc
6ronts
Details of the £rants awarded durlng 2021 are shown In note 7 of the flnancial statements.
Industry Portnershlp5
The number of industry partnerships and the Income eenerated from them Increased ￿gnIfiCantlY In 2021, although more
of these tame In the lomi of sportsorshlp tor spetlfic events. The Trustets thankthe Indu5tdal Partners for their support.
Adrnlnlstrutton
The ESVS oflice, established In December 2018, continued to operate Inltialty wlth five staff. who continued to work
remotely for much of the year. Ourin8 the year one member of staff was on maternrty leave and on her return to work an
additional post was created brin8lng the number of stafl employed to six. The Trustees thank the staff team for thelr work
and 5UPPOrt durin8 another difficult and unusuil year. A particular focus lor the offKe team was thè launch of 3 new
webslte In December 2021.
How the Charlty'i artl¥ltkn d•ll¥tt publk benefit
The Trustees conflrrn that they have considered the 6uidance issued by the Charity Commlsslon appertainlng to PublSc
Benefit. They consider that as all of the actfvities of ihe Chafifv are conducted wlth the aim of improvlng the knowledge of
and standard of work performed by Vascular Surgeons not only throughout Europe but the whole World therebv
promotlng health, It exists for the publlc benefit. In order to ensure that membership of the Soclety Is avallable to sur8eons
In less affluent European countrles, the Soclety offers a reduced late membershlp to a small number of Eastem European
countrles. The countries included are revlewed Te8ularfy to ensure that the discount Is stlll valld. In add5tion a reduced
membership rats is char8ed to sur8eons in trainin8.
Flnandal Revl•w
The consolldated and charlty Statements of Financ131 Activlty are set out on pages 10 and 11 of the Financial Statements
and show the financial re5uh for the year. The group's main fundin8 sources tontinue to be subscription5 from members.
the prolits 8enerated by the ENES, income 8enerated by its various charitable actiwties and funds rècèived from industry
partners.
In 2021. the Group reported 3 surplus of C2CKI.000 compared with ￿.792 in 2020. This Increase in 5urplu5 reflected the
additional support received from industrial partneis relerred to above. balanced by idditional costs generated by more
actwities.
Reserve5 polity
At the end of the period, the Group had fund5 amountin8 10 É1,502,26712020.. É1,302,2671 of which £1.498.916 were free
reserves las defined by the Charity Commissionl. The Trustees considered in detsil at the rtart of 2019 the level of free
reserves that the Soclety should hold and concluded that an appropriate level would be between £1,8W.OLY) and
,200,Cm in order to èrtable it to tontinue its aclNities and to fflitigate against the potential financial tonsequentes of the
need io provide financial support for its Annual ￿ferenCe, as well as enable it to contSnue to meet Its obligations to irs
staff and running ils activilies. The level of free reserves is still somewhat below the target range, notwithstanding the
Increase achloved In 2021. and It Is the alm of the Trustees that they should Increase In the medium term to within the
r8et ronge.

European Society For Vascular Surgery
Trustee5' report forthe year ended 31 De￿Thber 2021 {contlnuedl
Plans forthe future
The 36 Annual Conference of the Society is due to bÈ hdd in September 2022 in Rome. Italy. The meetlng Is expected to
take place in its traditional lin person) lorm althou8h an on-line option may be made available if infectlons arlsln8 from the
Covid-lg pandemic requi￿ there to be such a provision. The Tru5tee5 provisionally expect the 2023 Conference to be
based in Belfast (originally planned for 20211 and the 2024 Conference to be IoGlted In Krakow185 orlglnally planned for
20201.
The Mastercl@S5 event took Pla￿ in January 2022 and the Spiln8 Translatsonal Conferènce took place In Stotkholm,
Sweden, In June 2022. Courses, podcasts and weblnars continue. as do the journals and e-library Includins the on-llne
vasculaf textbook.
Refefence and adrnlnlstTatl¥e deta115
Reglstered Compony Number.. 4524120
Registered Charity Number..
1093753
Address of Serretoriot..
ESVS. 244 8oulevard Albert 1-, 33800 Bordeaux, France
Reglstered offlce..
18 Saxon Way. Romsey. Hampshlre. S0515PT, ijnited Kln8dom
Audltors..
Azets Audit Services Llmited, Camac Place. Cams Hall Estate, Fareham, P016 8UY, UK
Bonkers..
BNP Pariba5 SA. 14 Chernln de Maqrel. Merf8nac, 33700, &7rdeaux, France
ING 8ank, Cours Salnt-mlchel 40, 1040 8russels, Bel8lum
Nordea Bank Danmark AIS. J*8ersborgAllè 22. 2920 Charlottenlund, Denmark
Webslte..
www.esvs.or8
Tru5tee5
The followin8 Officers served as Trustees and made up the Executive Commlttee of the Soclety for the whole of th• period
from l January 2021 to the date of this report Un￿$$ stated otherwi5e=
The Presldent luntll October 20211
The President (from October 20211
The President Elert (from Ortober 20211
The Deputy Presldent-Elect lfrorn Ortober 20211
The Treasurèr
The Secretary General
EJVES Editor in Chief
Editor in Chief EJVES Vosculor Forum
Chairman- ESVS Academy
EVST Representative
Hence Verha8en
Mauro GargiLJlo IPresidenl-Elect to October 20211
Phlllppe Kolh (Deputy Presldent-Elert to Otlober 20211
lan Loftus
Pirkka Vikatrnaa
Maarit Venemo
Fltirian Dick
Melina Ceniga de Ve8a
Ramon Vila Coll
Stefano Ancettl
Slnce November 2020, there has been a Councll, which ￿ an *Jvis0ry body io the Trustees wlth certain specrfic
responsibilities as defined In ihe rewsed Articles of Association.

European Society For Vascular Surgery
Trustee< reportft>rihe year ended 31 December zozl {conti￿ed)
Structur•. Governan¢• and Mana8ement
6ovemlno document
rhe European Soclety fol Vascular Sur8ery I'ESVS-I was IncO￿lIated on 2 September 21XJ2 and registèred with the Charity
Commission on 9 Septembèr 2002 as a charity whose purpose is to relieve sickness and to preserve and protect health bv
aLfvancing for the public benefrt. the science and art and research Into vascular d15ease includin£ Iwlthout limitation)
vascular surgery. On 30 September 2002, the actmtles ol an unincorporated charlty, The European S¢xiety foi V05cular
Suryery Ireglstered number 10035341. were transferred to the Society. and thelotter charlty was dissolved.
ESVS Is a tompany limlted by zuarantee govemed by its Memorandum and Articles of Association dated 28 October 2002
and amended on 18 September 2005. During 2011 the Tru5tee5 undertook a review of the Charity's Memoiandum and
Articles of Association using a professional a(fvisor and new governln8 documents were prepared. These were approved
and adopted at the Annuèl General Meeting in September 2011 and were subsequently 5ubrnitted to ihe Charity
Commission, which requested an addr(ional change to be made, whlch was approved by members at the AGM In
September 2012.
Durlng 2020, the Trustees agaln rewewed the Artlcles of Assodatlon, In the118ht of the latest 8uitsnce Issued by the Charity
Commisslon and other advice on best pradice for the Governance of charltles. Thls resulted in an updatèd sét of Artldes
belng prepared. whlch were approved by the members of the company at the 2020 Annual General Meetlng and
Subsequent￿ approved by the Charity Comrnlsslon. The most $18nificant chan8e In the artlcles was to redeflne the Board of
Director5 (who are also Trusteesl from a var6able nurnber (but always In excess of 30 in recent years) to a flxed number.
The Councll, whlch prèvlousfy formÈd the Board ol Dlrertors was then reforrned as an odv150ry body eletted dIreC￿V bv
members.
The Ilablllty of the members of the company lfvll mernbers of the Socletyl Is 11m￿e￿ by thelr guarantee. In the event ot the
company belng wgund durin8 the perfod of thelr membershlp lor wlthln the year followingl they uThdertake to
contrfbute suth amounts ès may be requlred, to a maxlmum of Él each.
The Artlcle5 of Ass¢xiatlon authortse the Councll to create 6ye Laws. whlch were updated in 2019 and 2020. Thése ¢over a
number of matters relatlng to the operatlon of the 5otiety including tategoriès of membershlp.
The charity has three subsidiaries, two of which are owned directly. European Vastular Sur8ery Journa15 Umlted, whlch
mana8es the EJVES publication5, European VaKular Sur8ery Tradin8 Limited IEVSTLI, whlch mana8es the malorlty of lis
other activitie5 and which own5 SASU ESVS France, which operates the SocleW5 admlnlsirative office.
Appointment of trustees ondofflcers
Slnce November 2020. the Board ol Trustees has been ihe Executive Comffllttee. comprlsing the Presldent. Presldènt-Elect,
Deputy Presldent-Elect, Secretary, Treasurer, Chalrnian of the Academy C<Mnmrtree, Secretsry of the EVST Itralnee sectlon
of the Souetyl and Editors in Chief of the Socievs two journals.
Officers of the Charfty are proposed for elettion at the Annual General Meetfjn4 on thè nomination of the Council and take
offieÈ thereafter. The Presldent serves a one year tem of offitè hawng prèviousty served as Deputy President Elect and
Piesldent Elect for ane year each. giwng a three year terni of office in total. He or she may not be re-elected to succeed
himself. The Secretary and the TreaSU￿r are elected for a fwtryear term of offitt and are not normally re-elected for a
further term. The Editors in Chief serve terms of three years as do the Secretary of EVST and the Chalrman of the ESVS
Academy who are elected by members of the relevant committees. Successors to the Secretary and Treasurer are elected
at the Annual Conference at least one ytsr in advance of their assumption of duties and serve informally as Secretaryolect
and frèasurerolett the in year before they take office.
Trustee Induction and trolnlng
When new Trustees are appointed. they receive information from the Secretsry 4dvisin$ them of thelr re5ponsibllltles
including information Suppli￿ by the Chartty QJrnmi55ion of England and Wale5. They also receive the mlnutes of the
previous rneelin85 of the Executive Cornmittee. Council Members a150 receive information about thelr role as Counollors
and minutes of prevKius meetings of the Council.

European Society For Vascular Surgery
Trustee5' report for the ye•r •nd•d 31 D•¢•mber 2021 {coThtlnuedl
Structure. Gowrnance and ManJ8em•rnt (contlnu•dl
Oroonisotlon
The Trustees meet in person at least three times each year and then deal wlth other buslness by virtual means between
suth meetlngs.
The ESVS councll. now an advlsory body for the tharlty. meets twice each year. Other sub40mmlttees exlst for a varlety of
purpose5 and meet as often as Ss needed to transact buslness. These currently Include ESVS Academy. whlch manages Ihe
Soclety's tralnlng provlslon, ESVT, the Societrfs Tralnee sectlon, Programme Committee, Guldelines Committee, e-
committee and Industry Relauons and Business D￿eloPMent Committee. The President Is Chairman of meetlngs of the
Council and of General MeetinB5. The oreanisalion of the annual conference is undertaken by the Programme Committee,
whlch works in conjunction with the Executlve Commlttee. and a Professlonal Congress Or8aniser IPCOI.
Rlsk rnonqoementpollcy
The Trustees and Executive Comrnlttee Con￿rtue to monitor the malor r65ks to whlth the Society might be exposed and take
approprlate artlon a5 necessary to rnanage those rlsks. The risks considered most Sl8nificant over the past 18 rnonlhs have
been financial. beciu5e of the Covid-19 pandemic and the gradual move to an opèn acce&s buslness model of sclentlfi
journals. The Éxecutlve Commlttee and Council took an earty decislon to Postpone the Annual Conference planned to take
place In Bellasl In 2021 to mlnlmise the potential financial105s¢s whi15t the Dirertors of European Vascular S¢Jr8ery Journa15
are reviewin8 the business model of the Societvs maln journal to mana8e the effects ol these changes.
Reloted porties
The Soclety has two wholly owned Subsidlary companles. European Vascular Sur8Èry Journals Llmlted Is responslble for
mana8ln8 the contract between the Publlsher of the EJVES publications and Ihe Society. European Vascular Surgery
Tradinq Limited is résponslble for the or8anisatlon of the Anntsal Conference and other artlvltles and ha5 one wholly owned
subsidiary being SASU ESVS France. Other related parties are consldered to be the rnembers ol the Executtve Commlttee
(listed above), who are in a posltion to exert Sl8nificant influence on the Charivs affalrs. Detalls of transactlons wlth
related parties are provided in note 17 of the Financial Statements.
Pay pollcy Jor sen￿r$to￿l
Wlth the exception of the Secretary General and Chalrman of the Industrtal Relatlons and Buslnèss Developmènt
Committee. all Trustees 8lve freely of theli tlme to undertake thelr role as Trustees of the Sotlèty and noné received
remvneraiion Sn the year. Detalls of the Honorarlum pald to the Secretary General, honorarfa pald io other Trustee5 for
specSflc ro1è5 that they undertakt ftsr the Souety and its subsidiaries and expenses pabd to Trustees are 8iven in note 8 of
the flnanclal staternents. Since December 2018, SASU ESVS Frante has empbyed Staff at salaries eomrnensurate with local
market conditlons and the experience of those employed.
Stat•m•nt of Tru5tees' r¢4￿n51bl1tt1e$
The Trustees (who are a150 dlrertors of the European Soclety for Vascular Surgery for the purposes of company lawl are
responsible lor preparfng the Trustee¢ Annval Report and the financial statements in accordante wf(h applicable law and
United Kin8dom Atcounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law require5 the Trustees to prepare financial statements lor each financial year. which glve a twe and farr ￿eW
of the state ol affair5 of the charitable company and of the incomln8 re50urce5 and appllcatlon of resources. Includln8 the
Income and expenditure, of the charitable company for that period. In preparing these finantial statements, the Trusteès
are requlred to..
select suitable accountirvA policies and then apply them conslstently-
observe the methods and principles In the Charknes SOAP IFRS 1021-
make judgements and estimates that are reasonable and prudent..
state whether appllcable UK ACCOUn￿nI Standards have been followe(I, subiert to any material departures
dlsclosed and explained Sn the flnandal statements-
prepare the financial statements on the going concern basis unless it is inapproprlate to presurnè that the
Charitable company will contrnue in operation.

European Sodety For Vascular Surgery
report forthBy•arwd•d 31 Deombw2021 lcontlh￿Èd)
Staternert o1TTUlt￿. ￿SPOnsIbl1[11QS {coAthuÈd)
The TrU￿ee$ are fespor6ible lor keepin8 adequate accountkng records that di5cknse reasonable accyra¢y at any time
the financlal po4ilon ol the charitable company and enabfe them to ensure that the financial statements compty wirh the
Companies Act 2(X]6. They are also re5ky)nsible for sale8varding the a55ets of the charltable company and henre for taking
reasonable steps for the prevention and deteC￿n of fraud and other lffe8ularffies.
ln so far as the Tnjstees are aware:
there Is no rdewdnt audSt information of whkh the charbtable compan￿5 audltor Is unaware- and
the Trnstees h￿e taken all Steps that they ought to have rdken to make th8m5elvÈs aware of arby relevant >Jdlt
Inforrnatlon and to estabbsh that the auditor Is awère of that information.
Aydltors
The Trusttes have taken *1 ol the step5 that thry ou¢hi io hwe taken to make thern5efve5 aware of any Informatbn
needed by the companV5 auditors for the purposes of thelr audit and to establish that the audllor5 ale aware of that
Intormatlon. The trustees are not aware of any relevant audit Informa￿on of vthlch the audltors are unawafe. A resoluilon
proposln8 the reappolntmentof ￿tt$ Audlt Servlces wlll be PLrt to the forthcom*n8 Annual Gtner¥l Meetlrq.
In wep•rfnB thls report th*Trustees hat&E t*en advantage of the ex*mpt10ry5 8pp]l¢able to small cornpanles.
Thbs report was approved by the Trustees on 27 June 2022 andls 5i8ned on thdr behalf bv
Plrkka VIk￿Ma•
Treasurer and Trustee

European Society For Vascular Surgery
IDdepEndentAUdrro￿S Repwrio thernernber5 of the Ewopean Souetyforvaxular Suryeryfor ihe ye*rènd•d 31 DK•mber 2021
Opinion
We h4ve audlted the fln3ndal st3tements of European Sodety*orVascul3r Surgery Ithe'p3rent charrtable company'l andlts 5ubsldlarle5
Ithe'group'l for rhe ￿ar ended 31 Decembef 2021 v4hich cunprtye the Consolhlated Starement of Finanilal Affli¥Aty, Charllv Statement
of Financial Artllity. ￿lanCe Sh¢et% Consolidat¢d StaterThemt of Cash Flows notes to the finanoal statements. lttdudin8 signifiunt
accountln8 pollcles. The financlal rèportln8 framework that has been applled In thek prep3ratlon is applkabk law and United KiThEdom
Accounting Standard5, including FinarKial ReportinB Standard 102 Tre FinoKiolReporting StondordopplKuble the Vkond Republk ol
Irelondlunlted Kln8dom GenerallyAc(epted Accountlng Pratticel.
In our opinion the financial statements..
ve a true and farr view of the state of the grou￿5 parent charitable companV5 affalrs as at 31 December 2021. ond of the
group's Incemln8 resources and appllcatlon of resources. Includln81ts Income and expendltufe. for the year then ended.,
have been Proper￿ prewed in accordance with United Kin8dorn Generally kcepled Acco¥nbng Practlce., and
have been prepared In a￿Ord￿rKe with the vequlrefflentsof the Companie5 Act 2ffj6 and the Charities Ad 2011.
Basls foroplnlon
We condLfted our audit In accordance with Intematkjnal Standards on Auditing IiiKI IIsA5 IUKII and appllcable law. Our re5pon5ibilitles
under those stsnéards are further described in the Audrtorfs re5ponsiblllties for the audit of the financial statement5 seciion of our
r¢port. We are Independent of the 8toup and parent charltable company In accordancé whh the ethkal requSrements thèt are rèlevant
to our audlt of the flnanc5al staiements In the UK Indudini the FRCS Ethical Stsndard, and we have fulfilled our other ethl¢al
responslb511tles In accordance wlrh these requlrement5. We bdleve that the audlt evldeTrce we have tsbtaln•d Is sufflclent and
appropriate to prO￿￿e è basis lor oUr0￿￿10Th.
Concluslons relatIn¢ioyl￿ concern
In auditlTr8 the finaniial ststements. we ha¥e conduded that thetrustees. useof the8￿ne eonc•rn b•sL% ot•ccountln4 In the prepar•tion
of the fknand•l stètements Is •ppropfL4te.
Bas?d the wor* WÈ have perlormed. we h•ve ho iéet)iified any materlal uThcÈrtainties reljrlw to events or condltlons thit.
￿nd￿IduallY or collectlvely, mèy Case slgnlflcant doubt on the 8rrNJp's or parent charltable ¢oMpan￿5 ablllty to Corfinue as a
concern far i perK)d of Jt least t￿1ve manths from ihe financial statements I￿•￿thoriSed for tssue.
Our respons1￿1￿1¢S and the responslbllw ol the trnsthes wlth respert to ¢onc¢m •rt desrrfbed In the relevant ￿ttIOnS of the
report.
Ot￿r Ihlorm*tlon
The other Informatlon cornprlses the Inlormatlon Included In th• Tfvst•e5' Report. othtr th¥Tr the finandal statements ind our audltorfs
report thereon. The trustees are responslble for the other infonnation contalned withln the Tru5tee5' Report. Our oplnlon on the
rinaneial statemenES does not co%*r the other infoimat¢on and, except to ihe exteni oihen¥ise Èxpllcltly silted In our report, we do not
express any lom of •$5ur•n¢¢ ¢ty¢lwon ther¢ort. Our rtsptyulbllity 15 t¢ read the other informatlon and. in doin8 so, conslder thether
the other Inform*lon Is marerlalty Incon51steni wilh the flnandal ttatements or wr *nty￿ed6e obtalned In tht course of the audlt or
otherwise appears to ￿ mèttrially misstated. IF we vjenitly such material incansi5tencies or apparerrt moterlal mlsstaiements, we are
required to determine whether thi5 gives lo a materi31 misstatement in the financial statements them5elvts. If, based on the work
we h3w performed, conJudt that there L4 a Material MI￿11t*man¢ of this other Information, we are re4uireO to reportthat facL
We have nothln8 to ¥em In thls regard.
Qplnlons on other m•ttets pleK￿bed bythe(omp•nles Aci 2L*J6
In our oplnlon. based ¢n the work undertaken In the course of the audh=
the information liven In the trv5tee5' repoTI lincorporatyTrg the dwectors. rep)rtl for the finandal year lor whlch the flnanclal
5t4tements are wepèred ls£onslstent with the financlal statements.. and
the dlrectors. Report has been prepared In ac£ordance w(th applicable leRal requlrernents.
Matters on whlth we4re requlred to byucoplkn
In the liO)t of Qur knovAed8e and understandlng of ihe group and parent charftable company and ks eth￿rOnment obtalned In the Course
of the audlt, we have not Identwied rnatertal rn155tstements In tho thrertors, Report.
We have nothln8 to report In respert of the foll￿￿￿£ matters In re￿￿(¥* to whkh ihe Compani¢s A¢t and the Char￿leS Att 2011
requlre5 US to reportto you if. in our opinion..
adequate and sufficient accounting records have not been kept by the parent charitawe wmpany. or retums odequate for ouraud
have not been recelved frorn iK4nches not vigted byus,. or
the parent char5t3￿¢ companvs financial staterrtents are rbot in a8reement ￿th the accoundng records and relurn5,' or
£ertain dlsclosures of dlrertors, remuneratSon speofied by are not made.. or
we have not recefved all the infthrmation and explanatw)nswe rewire forour audiL or

European Society For Vascular Surgery
Ind¢p•hd•htAydhrfs Reporttothi m•mbvs olthe Sod¢tyfor V•s¢uhr Sur88ryfor thè y•*r •nded 31 De¢ember2021
l¢onttnuedl
the twstees were not enthled to prepare the financkl siatements In xcordance ￿th the Small companleg re8lrne èhd takè
advantage ol the small C1￿￿￿nI￿ exernptiorLS in weparing the director￿ report and from the requlrement to prepare 4 5trateEIC
report.
Pwponslbllltlu of trust•
As explained rnore fvlly in the trustees. responsibilities ststernent set out on pages 7 and 8. the trustees l%¥ho arè atso the dlrettors of
the charIta￿e company for the purposes ol compat)y lawl are respon￿ble for the Pfeparatlon of the financial statements bnd for being
satisfied that they 8Nè a true and fair *￿tw. and forsuch 5nternal control a5 the tru5tee5detqrmkne Is r￿Ssary to *na￿e the prepara￿On
of financial 5tatementsthat are free from rnarerial mwtatement. t•therher due to fraud or eThor.
In prepaTIfi8 the flnaneial siatements. the trustees are respon￿￿* lor assessln8 the group's and parent charltable tomp•nl5 ablllty to
continue a5 a goinB concern, di5closin& a$ 3pplicable. matrers related to 8oinB concefn and usin8 the 8oinB conc•rn ba51s of accountln8
unle55 Ihe tfU5tee5 Elthér intend to Ilquld•te the ytyjp ar the pwént tharitable torn￿￿ or to cease operatlons. or have no reillstl
altern4tlve but to do 54.
Audltorfi respon￿￿￿11*0•$for the wdtt ofth•thandal st•tsm•nts
We havè beèn appolnttd lUd￿￿r und* the Companle5 Act 2￿6)￿￿ 5e¢llon 151 of the Choritle5 Act 2011 and report In x¢ordance wlth
those Acts.
Our oblettl¥es are to obtaln reasonable assuranee abtyjt whtth¢r the fftnanclal ￿llementS a5 a whole are free from materfal
mi$5tatement, W￿ther due to fraud or trror, and to issue an avditor's report that Include5 wr opinlon. Reasonable assurance Is a hl8h
level ol assurance, but Is not a 8u8raniee thai In audit condutted In accordance wlth ISAS IUKI ￿11 always deteti a material
mlsstatement when It exlst& Mlsstaternents C8fv arlsÈ from fraud or error and are consldered m•terial11. indl¥ldually or In the aBgre8ate.
they could reax)nably be ¢xpe¢ted tts infftuence th¢ecor￿rnk d¢d51onsOt U59r5talenon the basls of these finan¢iol Statements.
lrrt6utsr￿Ies. Includin8 fraud. are Instances of nan-eompliance with laws ind ￿s￿lI1*0￿s. We éesi4n protedurei kn line ￿th our
responslbllitles, Outlined above, to delert rnated31 mis5taternents In respeci of Irr￿ularItI￿ Includln8 fraud. The specific procedures for
thls enga8ement and the to whkh these are capab￿ DI detectln8 Irre8vlirftlt5. IncJudln8 fraud Is deta51ed below..
Enqulry of manaKement and those tharyd 1￿MOnce around and poteThiial Iltlg*lon and clalms as well gs Irt￿11.
susp¢tted and 4lle8ed fraud..
Rev&N￿nI mSnuies ol meetln8s of those ch4r8ed ￿th 8ty4ern3nce'
A55esSlW the exteTht of comF41an£e wrth the law5 and re8ulatlons consKlered to have a dlrert miteTlal effect on the ftnantial
statements ￿ the operat*nsofthe group through en9uiry and lfvsporth)n,'
ReviN￿n6 Iinancial stitement dts(lowies ond testSnA to sup[￿1n￿ thxumentlti￿ to assess COM￿1¥￿(e wlth appllcaNe law5
and re8ulatlons.' and
Performln8 •udh work over the rlsk 01 mana8em¢nt and ¢)verridt of rontrols, in¢ludkn4 testlnq ollournol entrles and other
odju51ments for oppropriatene55. evalu4tin8 the l>uyne5s rationak of Signi￿ant tfansaCtk*ns tymsldé the normal course ol
buslne55 and reylewlni accountin8 estlmatesfor Indkawrs of potenial bia
8erau5e ef the inherent limitations ol an audit. there i5 a risk that we wlll r*it dete£t all Irre8ularfties. Indtsdln8 those leadln8
rnaterhl mlsstaternent In the flnanclal statements or nor￿￿mpl￿anE￿ whh regvladon. Th15 rlsk Increases the more that compllance wlth
¥ law Dr reaulaikjn is rerM¥ed from the E¥*nts and trèns•ctions reflected rn the fin¥nti*l stattments. as we wlll be less Ilkely to become
aware of Instances of non<ornpliance. The risk is a150 greater reRardln8 Irwularlties rxcurrlw due to fraud r•ther than error, as fraud
Involves Intentional concealment, f￿Bery. Collus￿n. OMIS￿On or misrepresentstion.
A further de￿rIptION ol duf re5paDslbilities for the au¢Jit of the ftnarKiol 5tstements T5 located on the Finantlal Reporting Councll's
webslte
httF6.'lthw.frc.or&ukPvr-Wor*lAvdillAwJil-and-a55Uranccl%and¥ds-and-8ulda￿l5￿nd¥ro$￿￿0-£V￿lnce-tOr-audI1ors1AL￿knr$-
res￿$1￿1￿1￿￿￿￿r4udft LHIMf•au¢lit0￿r•$P?_mltr11kntfr￿￿￿￿X￿. Thi5 deSCriPth￿ fonn5 Part ofouraudrtor's report.
Use of ourr•port
Thi5 report is made solelyto the CharItab￿ companrfs members. as 8 body. inxcordantewith Chapter 3 of Part 16 olihe Companiè5 Att
2th6 and to the £harhablÈ compart￿$ trustÈÈs, as a body. In aetordaNtÈ wlth Part 4 of the Charities (Accounts and Reportsl Regulations
2tQ8. Our audlt work has been undertaken $0 ihai we might state to the charitable companvs mernber5 and its trustees ihosÈ rnatiers
we are required to st*e to thern in an auditorfs rewi and rbD other purpose. To the hjllest extent permitted by law, we do not
ac¢ept or •$$vmÈ respmslblltty to anyoné other thart 1hè charttable compafiy and thÈ tharltable compan¥Ks member5 as • body and the
charitsble company's trust@es as 3 body. for our audit wth, for thts report, or for the opinions we have formed.
Izots S￿J I tL4
Zara FCA (Senior Statutory Audilorl
For and on of ￿et5 Audit SeNtes, s¢atutoryAudit(K. Camac Hao. Cams Hall Estate. Fareham, Harnp5hire. P016 BUY
Date..26.August.2022

European Sodety For Vascular Surgery
Consolld*ed staternent gf finan¢tsl artl¥llles IkKorpQr*l￿ an In￿rne and expeThJlture account)
for the year ended 31 Oe¢ember 2021
Notes Unrestrfcted
2021
Restrbcted
fund$ 2021
Total fuThd5
2021
Total funds
2020
Income
Chorfftta)le urtlvfrtle5'.
SubscrlplSons
Industry partnership
Courses and meetin85
286.689
289.100
572,720
286.689
289.100
572.720
253.177
232,375
247,534
Othertradin8 activitle5'.
Commercial trading operations
419,797
419.797
385,535
Investment income
20
20
Other Income
47
47
Total Income
1,561,573
1.568.373
1,118,632
Exp•ndltur• on
Roisingfund5.'
Ralsln8 funds
213.485
213,485
234,060
Chorftoble octlvltle5.'
Publ5￿tiOns and apps
Course5 and meetln85
Grants
169.697
947.353
37,838
169,697
947.353
37,838
148,635
690,149
37,996
Total *xpendltur•
1.368.373
1,368.373
1.110,840
Net movements In lunds
2￿,0
200Jh)O
7,792
Funds brouihtforw•rd
IJ02,267
1,302,267
1,294,475
Ful￿$ ¢arrled lorward
.S02.267
I￿02,26?
1.302.267
All amounts relate to contlnuln8 artlvltles.
The surplu5 for the year for the purpose5 of the Companies Act 2CX)6 comprises the net movement In lunds less unrealised
gains or losses on investments and amounted to C200,(MKI 12020= ￿.7921.
Detalled comparztlve Informatlon Is shown In note 20.
The notes on pages 14 to 24 form part of these finanual ststements.
io

European Society For Vascular Surgery
char￿ smement ot flnandal ac￿e5 Ilncorporatlnl an Income and expendlture ¥countl
forthe yearendtd 31 D*c•mber 2021
Notts Unrestrlrted
funds 2021
Total funds
1021
Total lunds
2020
funds 2021
Income
Choritoble gvivlties..
Subscription5
Industry partnerships
Courses and meetlngs
286,689
fIJ.C￿0
212,718
286.689
253,177
97,821
51,020
212,718
Investment income
202.253
202,253
255.589
Other Income
40
Totsl Incom•
761.71x1
761,700
657,611
Exp•ndlture on
Ruisinglunds..
Raising funds
S7.257
57,257
49,967
Churitable ortlvities..
Publitatlons
Courses and mettln8s
Granis
138.330
148,(*)3
261.180
138,330
148,C4)3
261,180
122,493
158,017
237,950
Total resources •xp•nd•d
604.770
604.770
568A27
Nei movements In funds
156.930
156,930
89,184
Funds brought forward
1,119,619
1,119,619
1,030,435
Funds carrl•d forward
1,276.519
Cl.276.549
¢A.119.619
All amounts relate to contlnvin8 3ctNtties.
The surplus for the year for the purposes of the Companies Art 21J)6 comprlses the movemènt in funds less unrealised
8alns or1055es on investmenls and amounted to (156.930 12020.. (89.1841.
Detailed comparatlve Information is shown in note 20.
The notes on pages 14 to 24form part of these finanoal statemen
li

European Society For VaKular Surgery
B•l•nt• shtets ￿ •131 Ilec￿ber2oll
Company nwnber. 4524120
Z021
Gro
zozi
a4rrty
2020
¢knup
2010
Chartty
Fl¥ed 4>sets
Tan8lble assets
Investments
io
li
3.351
5.517
3,351
5,517
Curr•ntass•ts
Debtor5 - due w￿h1￿ one year
C8$h xt bank and in hand
12
493,755
1.365.307
376,307
L133,280
309,974
1.393.983
191,195
.231,280
1.859,062
1509587
1.703,957
1.422,475
Q•dliors: amounts I411￿ du• Wlthln Ijne ye•r 13
1360.1461
1233,0401
1407,2071
1302,8581
Net cuThent •55ets
1.498,916
1.276547
1.296,750
1.119,617
lrt as5•ts
¢I.S02267
276yg
1302267
CL119.619
VDrestslctrd fur49
General funds
Re5trlrted funds
1502.267
1.276,$49
1302,267
1.119,619
Tot￿ fun
UJ02.267
0276.549
IJIK267
L119.619
These financlal statements have been prepared In accordarKe the provl4ons applkable to companles subiètt ta the
small £ompanIe￿ ftRlme.
The TrustÈes hwe prepared group finandal staiements In accordance *lth Seclk>n 398 of the Companles Art 2006 and
5ertion 138 of the tharlties Act 2011. These financial statemtnts are prepaitd wi attordance wrth the special provlslons ol
Part 15 of thè COm￿leS Aet 2006 relatlng to small Comp￿leS and constitute the anhual accounts requlred by the
Companiès Art 2006 and are frjr circulotion tp members ofthe cwtrpany.
Appiove(I by ¢he TruMee5 and authorfsed for155ue on 27 June 2022 •)d 98ned on their behalf by..
Plrkki Vlkatm
Tre3surer
The notes on pays 14 to 24 fo￿ part of the3e financial 5tstements.
12

European society For VaKular Surgery
Consolidat•d statement of ush flows for th• ¥•arended 310è£ember 2021
2021
2020
Net ¢ash louffiowllinflow fvorn operatiry actikn {belowl
{26A591
74.379
Cashflowslmm In￿st￿nI 4Trtivit
Investment Income reteived
Purchase of furniture and equipment
20
11,8371
N•t cash flow from Investlni arthrftles
11,8171
Cashllowsyromjlnonclnq artlvttles
IDecre•selllncrease In ush •nd cash equl¥•lents In Ihe ye•r
128.6761
74,386
Cash ar)d cash Èqulvalents brs)ught forward
1,393,983
1,319,597
Cash and cash egulval•nts urrf•d fonw•rd
IJ65,307
lJ93.983
R•¢ontlllatlon af surplus to nei cash Inflow from 0￿￿tIn8 artlvltles
Surplus lor the year
2C¥),OC#)
7,792
Adjustments ta reconclle SU￿￿1 the to net cashllowfrom opefQtlnq artlvttles
Ilncreaselldecrease In debtors
1183,7811
IDecreas*l In creditors
147.0611
Depreclatlon of tangible flxed assets
4.003
Investment Income recelvable
1201
124,706
161,8881
3,776
171
Net cash loyffl¢wlllnftow from 0￿rat1￿ artl¥ltl•s
126,8591
74.379
Analysls ol chanzes In n•t d•bt
Cash at l January
Cash flows
1,393.983
128,6761
1,319,597
74.386
Cash * 31 Dècèmber
1.365.307
1,393.983
There were no overdrafts, cash equivalents or borrowines in ef(herthe current ortomparative years.
13

European Society For Vascular Surgery
Ngtes tothefinaTrdal staternents for the ¥e•r eJKled 31 Decernber 2021
Atcountin8 Oldes
The prlncipal attountlng properties adopted. jud8ements and key Sources of estirnatlon uncertainty In the preparation
of the flnantlal statemÈnts are as folk)ws'.
8osls oAaccounting
The financial staternents have been prepared under the historical cost conventlon. wlth the exceptlon of
investments. which are included at market value. The firbancial statements have been prepared In atcordance with
the Financial Reportln8 Standaid appllcable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211,
the Financial Reporting Standard applicable in the LIK and Republk of Ireland IFRS 1021 and the requlrements of the
Companle5 Act 2006. The charity ex￿t5 a5 an entity for the publlc benefft and Is considered by the Trustees to be
golng concern. The functlonal cuirency of the tharity is the Euio.
Groupflnonclalstatements
These flnanclal sratements conso15date the results of thè charity and Its wholly owned subsidiaries, European
Vascular Surgery Journals Limited. European Vascular Sur8ery Tradin8 Umlted IEVSTLI. and SASU ESVS France. which
is who11y￿Wned subsidiary of EVSTL, on a15ne by line ba515.
Inconte recognitlon
Items of Income are recognlsed and included In the a¢¢ounts whèn all of the ft>llowlng crlterla are rnet..
o The charity or it5 Subsidiaries have entitlement to the funds:
o Any perfomionce condf(lons attached to the Irems of Income have bÈ*n met or are fully wlthin the
control of ihe charity 01 Its subsidiaries;
Receipt of the income is considered Probab￿,.
o The amount can be measured reliab￿.
Investment Income Is included when rttelvable and the amount can bè measured rellably by the charlty.
The charlty benefits from a contribution made by woluntèers, prlntipally mernber5 of Coun¢ll, who are not
remunerated for thelr tlme. The value of 5￿CeS wovlded by volunteers Is not Intorporated Into these flnandal
statements.
Income is deferred when ihe donor attaches conditions outside the charity's own control or specifies that the
resoufce5 are to be used in a future accounting period. In addltion fvture years, membershlps or course fèès are
deferred untll the year to whlch they relate Is reached.
Expenditure
Expenditure 15 recoBnised once there is a legal or con5trurtfve obligation to make a payment to a thlrd party, It Is
probabty that settlement wlll be required and the amourrt of the obligation can be measured rellably. Expenditure is
classified under the following actiwy headin8S'.
o Costs of raising funds comprise the costs of commerclal tradin8 and administerln8 the membership
function-
o Expenditure on charilable activities includes Ihe costs of publications, etyjrses, 8rants, Masterd@ss,
Translational Meetin¥ and the Arnnual Conference.
Irrect7ven7ble Volue Added Tox
All resources expended are classified under activity headings that a88re8ate all costs ￿lated to the cateAOry.
Irreeoverable VAT Is thar8ed a8ainst the category of resource5 expended for whlch it was Incurred.
support costs
Support COSIS are derived from those funclion5. which assist the work of the charfty but ijo rM)t directly undertake
charitable artivitie5. Support costs include office costs. finance, personnel, payroll and governanee costs which
support the charlvs aulvltles. These costs have been alloeated between tost of raislne fvnds ané expenditsjre on
Char￿ble actiwtles as set out In note 9.
14

European Sodety For Vascular Surgery
Notes to the financlal statementsforihe year ended 310ttember 2021 Icontlnuedl
I kcountlng pollcles I￿￿￿￿￿4￿)
Tonglblefved a55ets
Tangible fixed assets are 5tsted at cost le55 deprecation. Assets with a cost of less than Cl.000 are not capitallsed.
Depreciatlon Is provltled at the rate of 25% or 33% per annum on cost In order to write off flxed assets over thelr
estimated useful lives.
Foreign currencv
Foreign currency transartlons are translated Into Euros at the rates ruling when the¥ occur. Forei￿ currency
monetary assets and liabililies are translated at the rates rulin8 at the balanee Sheet dates. Any differences are
tsken to the Staiement of Finantial Artivltits.
Investments
Listed investments are valued in the balance shtet at their mid-market value at the balance sheet date. Inve51ment5
in subsidiaries are valued al cost. The Statement of Financial Activitles includes the net gains and losses arisln8 on
revaluatlon and dlsposals throughout the year. Invesiment management costs are charged as expendlture as thev
are incurred.
Debtors
Debtors are recognlsed at the settlement amount due after any trzde d15count offered. Prtpayment5 are valued at
Ihe amount prepaid after takln8 accouni of any trade dlscounts due.
Cash atbonk undln hond
Cash at bank and In hand Includes cash and short-temi hl8hly Ilquld Investmènts a short maturlty of three
rnonths or less from the date of acquLsltlon or openlng of the account.
Credltors ondpfovtslons
Creditors and provlslons are recognlsed when the charlty has a present obllgatlon resultln8 from a past Èvent that
will probalAy re5utt In a iransfer ot funds to a thlrd party and the amount due to settlè the obli£atlon can be
measvred or esilmated reliably. Crèditors and pro￿$10n5 are normally let￿nISed at thelr settlement amount after
allowing for any trade discounts due.
Operatlng leose5
Rentals applScable to operatlng leases arè d)ar¢ed to the Statemèni ol Flnantial Activitles over the period to which
the cost relates.
Funds
Unrestricted funds cornprise those funds. which the trustees are free to use for any purpose In fvrtherance of the
charitable objects.
Annuol Confrfence
All revenue5 and expenses a5XKiated with the Sotbetvs Annual Conference are IrKluded wiihln the Consolidated
5tstement of Finanual Actsvltie5 as IncominB resources and Resources expended even when an agent working on
behalf of the Society Incvrs them. Thls treatment Is adopted because the Societ￿$ subsldlary Is uhlmatèlv
responsible for any deficit which arises from, and retaln5 any surplus 8enerated by, the Annual Conference.
15

European Society For Vascular Surgery
Plotes to the financial statements forthe year ended 31 December 2021 lcontlnued)
Courses and conferences
1021
1020
Group
Income- unre5trirted
Annual Conference. Sprlng Meetin8 & Masterrl@
Courses and weblnars
363,034
209.686
196,514
42,620
572.720
239,134
RestrKttdAundincome-Annual Conferènce Grants
Total Income
572.720
2d7,534
Expenditure- unrestricted
Annual Conference, Sprin8 Meetlng & Mastercl@ss
Coursès
Webinars & e-llbrarv
Support Costs Inote 91
437,915
22,716
35,869
450.853
272,476
47.886
29.532
331.855
947,353
681,749
8,40)
Re5trirtedfundexpenditure- Annual Conference GTrnts
Total expenditure
947,353
690,149
Net C05t of courses and conferences
374,633
442,615
Chtsilty
Income- unre5trkted
Courses and webinars
Annual Conference. Sprlng Meetln8 & Masterclass
209,686
3,032
42,620
212,718
42,620
RestrktedJund In¢ome- Annual Conferente Grants
Total income
212.718
51.020
Expenditure- unrestricted
Annual Conference. Sprin8 Meetin8 & Masterclass
Cour5e5
Webinars & e-library
Support Costs InDte 91
22.716
35,869
89.418
47.886
29,532
72,199
148,C*J3
149,617
8,400
Restrlttedlundexpendlture- Annual Conference Grants
7otal expenditure
148,CQ3
158,017
Net income from (cost on courses and conterence5
64,715
1106,9971
16

European Society For Vascular Surgery
Notes to the financlal statements forthe year ended 31 Decernber 2021 Icontlnued)
Investment Income
2021
2020
6roup
Income frorn listed investments bonk interest
20
Choilty
ESVS Conferences Limited- Gift Aid Donaiion
Income from Ilsted Investments and bank Interest
202.233
20
255,589
Q02,253
255,589
Ratslni funds
2021
2020
Group
Membershlp management Se￿te$
Support costs Inoie 91
Marketing & 8u5ine55 Develgpment
Costs ol 8eneratln8 Income ftom subsidiarles
4,000
39,983
17,268
172,809
54,320
16,484
137.681
213,485
234,060
Chorlty
Membershlp management sefvices
Marketln8 & Buslness Oevelopmènt
Support Costs (note 91
24,IK
17,268
8,699
16.484
10,773
57.257
49.967
PubllcatlonJ-8roup and ch•rSty
2021
2020
Expenditure- chorlty
louinal sub5CriPtion £osts
Guldelines
Vascunet
Support costs (note 91
113.063
11.880
108,085
10.(K13
56
4,349
5,387
Total expendlture- chadty
138,330
122,493
Expendlture- 9roup
Addltional support Costs Inote 91
Guideline App
21,773
9.594
15,642
10.500
Total expenditure-group
169,697
É148,635
17

European Soclety For Vascular Surgery
Notes to ihÈ financial statÈfflents for the year ended 31 December 2021 Icontlnuedl
6 Net movement In lunds
2021
2020
The net movement in fvnds for theyear is stated after charging..
Audltors. remuneratlon - for servlces as audltors- 8roup and tharity
Depreciation- group onty
13,283
4,003
10,893
3,776
Grants
2021
2020
Group und charlty
Educatlonal travel grants and Annual Meetln8 Grants
All¢xated support costs (note 91
26,975
10,864
30,C
7,996
Totsl for Group
(37,839
37,996
Churlty
Subvention to European Vascular Sur8eryTradin8 Limited
Reductlon In allocated Sup[￿ costs compared wlth Group Inote 91
232,050
18,7091
206,210
16,2561
Total lor Charlty
261,180
237,950
Grants were payable to ten12020= ten) indiwduals. One Brant for whkh a commitment had prevlously been made
was returned the Char￿ oft account of the Ca￿d.19 pandemlc.
Eryloy•e costs
2021
2020
Group
Wages, salarie5 and honorarla
Sotial sectsrlty costs
Pension conlribution5
415,130
92.448
20,138
329.￿8
64,021
14.276
Total
527,716
407.305
Chorfty
Wa8es, salarles and honorarla
7.875
The average number ol employees durin8 the year was 2612020: 261 for the Group and three12020.. three) for the
Charity. One efnployee 12020.. onel within the 8roup Inot wr(hin the charltyl received remuneratlon of more than
70,OTrJ. One Trurtee received an honorarlum amounting to (12.OC￿l2O20.. one reteivÈd C12,IX)01. Permlssion lor
these payments to be madè has previously been obtained from the Charity Commission. The payment refiert5 the
tlme spent by the Secretary in undertakin8 work on the So¢iety'S behalf. Another Trustee recelved an honorarlum
arnounting to l12,(KM)12020: C12.C(K)l in respect of tlme spent Ilaising with wtential 5pollsofS industry partneTS
and not for work as a Trustee. whlch Is undertaken vuluntarily. These amounts are not induded wlthln the fiRures
shown above. Slx12020.. ninel Trustees receiveé reimbursement of èxpenses for travel Of hono¥arla for presenting
courses amountln8 to É3,475 12020.. (4.5621. One Trustee received an honorarium amounting to É22.000 12020..
22,1XX)l and another Trustee received an honorarlum of C8,LhXI12020= (8,c￿l from one of the Societ¢s subsidiaries
In conneuion wlth roles undertaken In connertion with work for the Society's Journals in addition tc their being
Trustees of the Charity.

European Society For Vascular Surgery
Notès to thè IlnarKlal statements for the year ended 31 De￿rnber 2021 Icontlnuedl
Support costs
2021
2020
Charity
Travel costs
oirice costs including website
Employee cosis
Audit and accountancy
Bank char8es, le8al lees and insurance
Exchange rate difference5
22.447
19.410
21.000
33.283
10,557
1.036
18.770
4,272
18,875
30,893
5A57
8,720
Toial lor Charfty
107,733
6.987
Addltlonol Gioup support costs
Office costs including website
Employte costs
Audlt and accountancy
Bank char8es, ￿gaI fees and Insurance
Corporatlon tax (Frantel
Depreclatlon
22,120
401.206
7,210
925
23,692
278,292
5,894
1.184
4,C¥)3
3,776
Total for Gfoup
543,197
399,825
Support cosis have been apportioned a8alnst the aclrvities of the tharity in accordance wlth estimated management
time Spent on each artivity as shown bebw..
2021
2020
6ioup
Rai51ng funds (note 41
Publlcatlons (notè 51
Grants Inote 71
Courses and confeientÈs Inoie 21
54,320
27,160
10,864
450.853
39.983
19,991
7.996
331,855
543,197
399,825
Chorlty
Raisin8 lunds (note 41
Publlcations Inote 51
Grants Inote 71
Courses and tonfèrences (note 21
10.773
5,387
2.155
89,418
8.699
4,349
1,740
72,199
107,733
86.987
19

European Sodety For Vascular Surgery
Notesto the finandol stst•m•nts forthe year •Nled 31 D4c•mber 2021 Icontlnuedl
10 Tangible fixed assets-zToup
Offke ewlpment
Cost
At l January
Addlt5ons
14,621
1.837
At 31 December 2021
16,458
Depreclation
Ai i January 2021
Provided in year
9.104
4,003
At 31 Oétembèr 2021
13.107
Net Book Vulue
At 31 December 2021
3.351
At 31 De￿rnber 2020
5,517
11 InTK5tments- Charlty
In¥estm•nt In
Subsldlarle$
Cost
At l January and 31 December 2021
£2
Hi5torl¢ ￿5t al 31 Drfember 2021 was (212020.. al.
The Investment in subsidlaries represents the wholè of thè Issued share capltal of Europèan Vascular Surgery Journa15
Llmlteij and European Vascular Surgery Tradln8 Limlted, both Companies re8lStered in England and Wales.
12 Debt
2021
2020
6roup
Other debtor5
93,7S5
309,974
ChOTity
Other debtors
Due from subsidiary tompaniès (note 171
24,573
351,734
70.936
120.259
376.307
191,195
20

European Society For Vascular Surgery
Notes to the Ilnanclal 5taternents forthe ye3r eTrded 31 December 2021 Icontlnuedl
13 Credltors: amounts fairing due wlthln one year
2021
2020
Group
Trade creditors
Corporatlon tsx
Other taxatlon and s￿13[ Security
Accruals and deferred inwme
15,179
35,107
325.039
39.830
352.198
360,146
(407,207
Chuilty
Trade creditors
Accruals and deferred 5ncorne
Amounts owed to subsidlarles
10.592
185.389
106,B77
204,541
28.499
233,040
302,858
14 D•f•rr•d Incom•- group •nd (harfty
2021
2020
Balance at l January
Amounts released to Incornlng resourtes
Amounts deferred in the year
15.963
115,9631
21,901
47,965
147,9651
15,963
Balance at 31 December
21.901
15,963
Deferred incorne relates to membership and course fees received for future years.
IS Exc￿￿￿e rnte
The accounts have been prepared u51ng the Euro currency. The Year￿nd rate of exchange used was Cl.1921051£
12020.. £1.1085V£i.
16 Contr￿[fi8 party
The Soclety Is Controlled by Its Trustees. who are appointed by pr￿edureS explained In the Trustees, report.
17 Relatéd party iransa¢tlons
Durlng the year ihe charlry ￿te1Ved Income under gfft ald of rhe tradlng PToffts from European Vascular Surgery
Journals Limited amounling to (202,233 12020- Q55.5891. During the year the tharlty made a subvention of
232,05012020.. (206.2101 to European Vascular Surgery Tradin£ Limited. At 31" December the tharity owed É28.499
by 12020: É89.259 was owed tol Euiopean Vascular Sur8ery Joumals Llmtted and was owed <351.734 by12020..
106.877 awèd tol European Vascular Surgery Tradlng Llmtted. In addrtlon, European Vascular Surgery Trading
lIm￿ed was owed Énil 12020.. É5,0(Xll by SASU ESVS France and the tharity was owed Énil 12020.. É31,0001 bv
European Vascular Surgery Trnding Limtted. During the year European Vascular Surgery Trading Limited was invoiced
(366,50012020.. U70,OCKJI and the charity wa5 rnvoiced É25.iJKI (plu5 irrecoverable VATI12020.. £20.0001 by SASU
ESVS France in respect of administration services. There were no other transactions with related partles durin8 ihe
year and no other outstanding balances with related parties at 31 Detember 2021 or 2020.
21

European Society For Vascular Surgèry
Notes to the financlal statements forthe yearended 31 Dttember 2021 Icontlnu•d)
18 Operaling lease commltrnents
At 31 December 2021. the tharity had no comrnitrnents under non-cancellable operatin8 leases12020'. none).
19 Net income from tr4din8 Ortivlliesof subsldlarEes
The Charity has two directly owned subsidiaries. European Vascular Sur8ery Joumals ￿rnited and European Vascular
Sur8ery Trading Limiied, both of which are intorporèted in En8land and Wale5. European Vascular Sur8ery Tradin8
Limited has one whdly owned subsidiary. SASU ESVS France. which is incorporated In France.
European VosculorStsrgeryJournols Ilmlted
Its principal activity is the management ol the &xietVs Journals. A summary of the sub51dlarfs tradin8 results 5s
shown below. The tompan¢$ attounts are exempt from statutory audit and have been flled with the Reglstrar of
Companies.
2021
2010
Profit ondloss occount
Turnover
Administrative expenses
Gift aid payrnent lo European Society lor Vascular Surgery
419,798
1147,2751
1202,2331
385,542
1183,3Q9
1255,5891
Profitlllossl reportèd by subsidiary
70,290
153,3461
The rtet assets of the subsldiary at 31 December 2021 were (274.92812020.. (204.6381. The charlty owns the whole
of it5 5ubsidiary'5 share capital.
Europeun Vosculor Trodinq Limited
Its prtnclpal activlty is the orEanisation of conferences as requlred by the cha￿ty. A summary of the subsldlarfs
tradlng résults Is shown below. The tompanlls atcounts art exèmpt from statutory audlt and have been filed with
the Registrar of Companie5.
2021
20ZO
Profit ond1055 occount
Turnover
Subvention Irorn European Society lorvascular Sur8ery
Adrninlstratlve expenses
589.103
232.050
1821.1531
337,068
206.210
1543,2781
Profit retsined in subsidiary
The net assets of the subsldlary at 31 De￿rntser 2021 were Él 12020: Éll. The charity owns the whole of Its
subsidiarf5 share capital.
SASU ESVS Fronce
Its principal artivity 15 the prowsion of administration 5eMces. A 5urnmary of the subsidiarfs trading results Is shown
below. The companvs accounts have ￿en audited and have been filed with the appropriate authorlty In France.
22

European Society For Vascular Surgery
Notes to the flnanclal statements forthe year ended 31 December 2021 Icofttlnued)
19 Nèt Incorne from tradln8 *rtlvltlés of subsldbarles Icontlnued)
SA5U ESVS Fronce (¢ontitrJued)
Z021
zoio
Profit ond loss occount
Turnover
Adminlstrative expenses
Corporation Tax
Dividend paid to European Vascular Sur8eryTradln8 L6mlted
391,506
1418.7261
290.000
1312.0361
16,0001
ILossl/proflt retalned In sub51dlary
127,2201
128,0361
The net Ilabilities of the subsidiary at 310ecember 2021 were (49,20912020.. (21,9891. European Vascular Surgery
Trading Limited owns the whole of the 5ub5idiarfs share capital.
20 Cornyratlye 5Thform•tlon- Consolldatedstatemeni ofjlnanclalortlvlrfeslor the ye¢7rended31 De￿rnber2o2o
Vnrestrfcted
funds 2020
A￿trIcted
fund5 2020
Total funds
2020
Incom•
Charitoble octNitles.'
5ub5crlptlons
Industry partner5hlp
Courses and rneeiln8S
Other tmding octivitles..
Commercial trodlnB operallon5
Investment Income
her Income
253,177
232.375
239,134
253,177
232.375
247,532
385,535
385.535
Total Income
iio,
1.118.632
Expendlture
Rolsirtofvnds..
Ralsing funds
234,060
234,060
Churituble ortivftles..
Publications and apps
Courses and meetln85
Grants
148,635
681.749
37.996
148,635
690.149
37,996
Total expendltur•
1,102,440
1.110.840
N•t rnovements In fvnds
7,792
7,792
Funds brnu8hi lorward
1,294,475
1.294.47S
Funds tarrfed lorward
1302.267
1302.267
23

European Society For Vascular Surgery
Notes to the flnarKlal statements forthe yearended 31 December 2021 Icontlnuedl
20 Compar•tlve infomiatlon l¢onllnued)- ChoritystotsmentoAJ7nunwl ortwitiesfor the yeor to 31 De¢emlKr2020
Unrestrkted
fund5 2020
Restrlrt•d
funds 2020
Total funds
2020
Income
Chorltoble artlvltles..
Subscriptions
1ndL￿ry partnerships
Courses and meeting5
253.177
97,821
42.620
253.177
97,821
51,020
8.400
Inves¢rnent income
Other Income
255,589
255,589
Totsl In¢ome
649.211
657,6LI
E¥pendltsre on
Roi5ingfunds.'
Ralsln8 funds
49,967
49,967
Cl￿rIt￿ble ortlvltles.-
Publlcatlons
Courses and meetin85
Grants
122,493
149.617
237.950
122,493
158,017
237,950
TO1￿ resourrAs empended
560,027
568,437
Net movements in fund5
89.184
89,184
Funds brought forward
1,030.435
1,030,435
Fund$ ¢arrléd lonmard
1,119h19
1,119.619
21 General Inlorniatlon
The entlty is a charita￿e company limited by guarantee Incorporated In England and Wales. The address of Its
reglstered offlce Is 18 Saxon Way. Romsey. S0515PT.
24