EUROPEAN SOCIEfY FOR VASCULARSURGERY REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
European Society For Vascular Surgery Reports and financial ststements for the year ended 31 December 2024 Contents Page Trustees, report Report of the Independent auditor Statements of financial activities 12 Balance sheets 14 Consolidated statement of cash flows 15 Notes to the financlal statements 16
European Society For Vascular Surgery Trustees, rÈport for the year ended 31 December 2024 The trustees. as directors of the charitable company for the purposes of company law, present their report and financial statements for the year ended 31 December 2024. This report meets the requlrements for a Directors, Report for the purpose5 ofthe Companies Act. Alms and objertlves Purposes ond oims The Society defines its misslon as being to improve vascular health for the public benefit by: Promotin8 high quality research,. Providlng educatSonal opportunities including weblnars. workshops and h3nds-on courses. Organising meetings seminar5, workshops. lectures and conference5, both on-line and In person,. Sponsoring its Journals (Europeon Journol of Vosculor ond Endovasculorsurgery IEJVESI & EJVES Vascular Forum); Issuing Clinical Practlce Guldelines on the treatment of vascular disease,. Promoting dialogue with National Societies and others involved In the treatment of vascular d15ease; and Advisin8 regulatory authorities on matters relatln8 to vascular disease. In order to further Its objects and achieve its mission, the Soclety and Its subsldlary companies undertake a varlety of activities, details of which are 8iven below.. Annual Conference The Annual Conference has been held every year slnce 1987 in different European citles lonllne In 2020). Venues are Usually selected around flve years in advance to allow for the necessary plannin8. The programme of each Annual Conference includes scientiflc sessions, workshops and symposla, abstract presentations, a trade exhlbltlon together with a Social Programme and opportunltles for informal networking. The SocSety contract5 wlth a Professional Congress Organiser {PCOl to manage the logistical aspects of the Conference. Tronslotional Vascular Science Meetlng The Soclety held Its flr5t Spring Conference In 2013. The event wa5 concelved on a smaller scale than the Annual Conference comprising a number of Sclentlflc Sesslons Includlng a keynote lecture and a serles of abstract presentations. In 2019, the declslon was taken to change the format of the event so that it became a biennial event, alternatlng with the biennial European Symposium Of Vascular Blomaterlals Symposium. The first meetin8 due to be held in thls way was scheduled for 2020, but became an online event as a result of the Covld-19 pandemic wlth subsequent meetin8s, In 2022 and 2024, bein8 in person. Educutionol progromme The society offers a programme of training courses not only at the annual conference but also at other times through the year. Surgeon5 Wlth skills in the specific area belng covered act as tutors, and, whilst the courses are offered to all members of the Society, they are primarily aimed at surgeon5 Still in tralnln8. A sulte of short on-llne courses Is also offered. During the year, the Soclety launched a two-year programme called Fellowship available at both basic and advanced levels. In each case the programme comprises seven hands-on workshops and between six and eight online workshops. It also announced a Certification scheme, which in its pilot phases will concentrate on Endovasular procedures on the lower Ilmb. ESVS Mastercl@ss Live was launched In 2019 as a two day event whlch included commentary on Ilve operations with dlrect vldeo Ilnk to the operation rooms as well as discussions and lectures. Slnce 2019 the format has changed sllghtly and, in 2024, the event took the form of four evening sessions, all virtual. Edited videos of the event are avallable in the on-llne ESVS Library, which is available to members of the Society. The ESVS Library includes a Wirtual Va5cularf' textbook, which Is belng wrltten with individual chapter5 being launched as they are completed or updated. It 0150 includes a serles of podcast5 and other resources, made avallable to members. The Society also offers a series of webinars. which featured vascular experts discussing specialist topics. These are avallable publlcly after the Ilve "broadcast" There is also a series of Podcasts available to members.
European Society For Vascular Surgery Trustees. report for the year ended 31 December 2024 (contlnuedl Alms and objectives (contlnued) Journols All members of the Society have elertronlc access to the SocIe5 Journals, European Journal of Vascular and Endovascular Surgery IEJVESI and EJVES Vascular Forum IVF}. These journals are owned by the Society and have been managed from the start of 2024 by European Vascular Sur8ery Tradlng Llmited IEVSTLI, a subsidiary company of the Society. For an additlonal fee, members can elect to recelve a paper copy of European EJVES each month. Guidelines The Society commissions and publishes in EJVES and an App a series of Clinical Prattice Guldelines on vascular procedures. Industry partnerships The Charty actively works with a number of medlcal device and pharmaceutical companies, which make a contrlbutlon to the Society {or one of Its subsidiaries) and become "Industry Partners". The Society also welcomes sponsorship of partlcular events, although it maintalrss its scientific Independence from such sponsors. The Society thanks It5 four industry partners from 2024 (Cook Medical, Gore, Phlllps and Medtronlc) for their support. Gronts The Society currently offers Educatlonal Travel Grants, whlch aim to allow the successful applicant to travel to an institution in a dlfferent country from where they work for a short period of tlme, to look at a particular technique or research prolect. Vascunet Vascunet Is a collaboration of vascular reglstrles that was established to Improve the quality, safety and effectiveness of vascular healthcare In Europe and Australasia. The focus of Vascunet Is the development of high-quality International reglstry data in vascular Surgery, which supports analysis of vascular surgical outcomes on an Internatlonal level and feed5 Into quality improvement project5 In multidisciplinary vascular medlclne nationally and intematlonally. Europeon Reseorch Hub The European Research Hub seeks to increase partlclpatlon In hlgh quality clinical research In vascular disease throughout Europe and internationally. European Venous Reglstry A new project started In 2024 was the creation of the European Venous Registry, whlch Is an international repository of venous treatment data that informs the outcomes of venou5 interventlons, with the ultimate 8oal to provlde patlent5 With the best P0551ble treatment accordin8 to scientlflc evldence. It is intended that the registry wlll be open for ten years. Administration. subcommlttees ond volues In 2018 the Trustee5 took a declslon to re-establish the SocieW5 own adminlstrative office as had been the case until 2015 fter which an A5s¢xiation Management company was used. The office, located in Bordeaux. France. operate5 through an wholly-owned French subsidiary ISASU ESVS France). SASU ESVS France Is responsible for employin8 Staff and provldlng the offices and equipment for those staff. The Soclety Itself has one employee Ithe Accountant) who is based in the United Klngdom. In addition to the work undertaken by the Executive Committee (Trustees), Councll and office staff, a significant amount of dministrative, planning and management work is undertaken by the Societys subcommlttees, which at the end of 2024 comprised the Pro8ramme Committee, the Industrial Relatlons and Business Development Commlttee, the Journal Committee, the ESVS Academy Committee, the Guidelines Steering Committee, the ESVS Library Committee. the National Societies Commlttee, the EJVES Editorial Board. the VF Editorial Board as well as meetings of Editors of EJVES and VF. Members ofthese commlttees are surgeons who give theirtlme voluntarily to the Society. In 2023 the Charity implemented a set of values: Integrity; Transparency- Re5pett and Sustainability. The Trustees also instituted an Equality, Diversity and Inclusion task force. The Tru5tees' aim is that the ESVS is an inclusive organisation which value5 and seeks out a diverse membership pool and promotes inclusion among member5. They believe that diversity enriches perspectives, improves performance and makes everyone feel safe and valued.
European Society For Vascular Surgery Trustees. report for the year ended 31 December 2024 Icontlnued} Achlevemefits and performance The Soclety's athievements and performance are based on the activities stated above. Membership At the end of 2024 the SocSety had just over 3,300 member5 preSentIng an increase of IO% on 2023. Of these just under 900 were trainee5. The Trustees and offlce staff continue to work to increase the number of members, concentrating on those countries where the proportion of Vascular Surgeons electin8 to join the Society15 lower than might be expected. Annuol Conference The 38 Annual Conference took place in Krakow, Poland, In September 2024. 1,578 delegates attended the meeting. 64 countries were represented and there were 41 Industry Sponsors. The Scientific Programme comprised 7 Fast-track sessions, 24 Symposia, two sesslons specifically for TraSnees, one Honorary Lecture and 228 e-poster sessions. The ESVS Academy ran 43 workshops. Tronslotional Meeting The ESVS Translatlonal Meeting took place in 2024 In Stockholm, Sweden, as a fully onslte event. The programme featured five sessions over the course of 1% days, dedlcated to advances in translatlonal science, The meetin8 brought together 98 delegates from 25 countries and received some financial support from two Industry partners. Ma5tercl@ss The 6, ESVS Mastercl@ss took place In four sessions between January and Aprll 2024. The first two sesslons focused on Aortlc Vascular Surgery and the Second two on Perlpheral Arterlal Disease. Vascunet In 2024, the Vascunet commlttee met once as usual, this year in Bordeaux and held a session at the Annual Conference. Journols The most recently published 151 Impact Factor of the European Journal of Vascular and Endovascular Surgery IEJVESI Is 6.8. The impact factor Is a measure of the citations from a given source, as deflned by the Institute for Scientific Information. Around one quarter of the Society's membershlp chose to receive EJVES in paper form In 2024. A new publlshlng contract for EJVES slgned durln8 2023 took effecl on l January 2024. EJVES Vascular Forum, In Its flfth year of publication, Saw Its Impart factor Increase from 1.4 to 1.8. Dr Melina Vega de Ceniga completed her term of office as Edltor-ln-chief in December 2023 and was replaced by Mr Arindam Chaudhuri. Two sets of Clinical Guidelines were completed during the year on Abdominal Aortic Aneurysm IAAA) and Peripheral Arterlal Dlsease IPADI. At the end of 2024 work was underway on Six new or updated guidelines. Educational progromme The ESVS Academy organised a series of 12 onllne events, which were attended by 137 people and covered a range of subject5 under nlne pathways. In addition 170 dele8ates attended eleven hands-on courses whlch were run In Copenha8en, Warsaw, Barcelona, Trondheim, Alkmaar, Belgrade, Stockholm, Athens and Zuyderland. The number of chapters in the Soclety's Wrtual Vascularf textbook remained at 41 at the end of 2024 whllst further material in the form of videos, podcasts and Abstract5 from the Annual Conference were added to ESVS Library. In add6tlon some out4ated material from the Library was deleted. All of these resources are avallable to the Societ¢s members. European Reseorch Hub (ERHJ The main output from the ERH during the year was the foundation of the European Venous Registry IEVeRI covered in the next section.
European Society For Vascular Surgery Tyustees. report for the year ended 31 December 20241continued) Achievements and performance (contlnued) European Venous Reoistry The European Venous Registry Was established during 2024 and Is an international repository of venous treatment data that infomis the outcomes of venous interventions. with the ultimate 8021 to provide patients with the best P0551ble treatment according to scientific evidence. It is intended that the registry will be open for ten years. During the year the flrst centres jolned and data started to be received. Gronts Details of the grants awarded durlng 2024 are shown in note 7 of the financial statements. Industry Partnerships The number of Industry partnerships and the income generited from them increased In 2024, much of which came in the form of sponsorship for speclfic events. The Trustees thank the Industrial Partners and sponsors for thelr support. Administrotion The ESVS office started the year wlth eight staff, wlth an addltlonal staff member joining In the mlddle of the year to provide support for the Reglstry work. This gave a total of nine staff In addition to the Group's accountant. How the Charft$ artlvltles delfver publlc benefit The Trustees confirm that they have consldered the 8uidance Issued by the Charlty Commission appertalnlng to PublSc Benefit. They conslder that as all of the activltles of the Charity are condutted wlth the aim of improving the knowledge of and standard of work performed by Vascular Surgeons not onlythrou8hout Europe but the whole world thereby promoting health, It exists for the public beneflt. In order to ensure that member5hlp of the Society is available to surgeons in less affluent countries, the Society offers a reduced rate membership to sur8eons in a small number of countrles. The countries included are reviewed regularly to ensure that the discount is still valid. In addltlon a reduced membership rate is charged to surgeons in tralnlng and to retired members and reduced registration fees are offered to trainees vascular surgeons for the Annual Conference. Flnanclal Revl•w The con501idated and charity Statements of Financial Activity are set out on pages 12 and 13 of the Flnanclal Statements and show the flnancial result for the year. The group's main fundin8 sources continue to be subscriptions from members, the profits 8enerated by the EJVES, income generated by Its various charitable actlvltles and funds received from industry partners. Its main items of expenditure are staff and direct Costs for events. In 2024, the Group reported a surplus of É385,000 compared with (107,000 In 2023. This increase reflected a positive result from the Annual Conference matched by tl8ht control of costs and continued support from members and industrial partners. The charity had no restricted funds at the end of the year {2023: É20,0001. Reserves pollcy At the end of the period. the Group had funds amounting to É2,117,26712023.' É1,732.2671 of whlch É2,027,019 were free reserves la5 defined by the Charity Commlssionl. During the year the Trustees reviewed the level of free reserves that the Society should hold and concluded that an appropriate level would be between É2,200.000 and É2,600,000 in order to enable it to continue It5 activities and to mitigate agalnst the potential financial consequences of the need to provide flnancial support for its Annual Conference, as well as enable It to continue to meet it5 obligations to Its staff and running Its activities. The Trustees expect to reach thi5 increased target ran8e within the next few years. Plans for the future The 39 Annual Conference of the Society 15 due to be held in September 2025 in 15tanbul, Turkey. The Trustees and Pro8ramme Commlttee are a150 planning the 2026 Conference in Bel8rade. Serbla, and the 2027 Conference in Lisbon, Portugal, where, following a decision taken in 2023, the 2029 and 2031 Conference5 will also be held.
European Society For Vascular Surgery Trustees. report for the year ended 31 December 2024 (continued) Plans for the future (continued) The Mastercl@ss event will take place in a number of sesslons throu8hout the year in 2025. Courses and podcasts continue, along with the journals 2nd e-library Includlng the on-line vascular textbook. Admin15tratively. the maln focus of 2025 is the creation of a new web51te for the Society, followinB 5i8nificant leve15 of dlssatisfaction with the existing website. The Trustees have also taken the decision to discontlnue the blannual Translational Meeting, meanlng that it will not be held In 2026. There wlll be a number of changes in the composition of the Executlve Commlttee as four Trustees reach the end of their terms of office, in addition to the annual changes assoclated wlth the role of President. In September 2025, Maarit Venermo {HelslnkS, FSnlandl will be succeeded as Secretary General by Robert Hinchliffe (Bristol, UKI, after servlnE as a Trustee for five years whilst Martln Blorck (Uppsala. Swedenl,18or Koncar and Petar Zlatanovic (both Belgrade, Serbia) have all served as Trustees for three years. Reference and adrnlnlstratlve deta115 Reoistered Company Number.. 4524120 Req15tered Charlty Number., 1093753 Address of Secretariot.. ESVS, 275 Boulevard Albert 1°, 33130 Bè8les IBordeauxl. France Reglstered offlce.. 18 Saxon Way, Romsey, Hampshire, 50515PT, Unlted Klngdom Audltor5.' Azet5 Audlt Services Limited, Gateway House, Tollgate, Chandler's Ford, Eastlei8h, Hampshlre, S053 3TG, UK BNP Paribas SA, 14 Chemin de Magret, Merlgnac. 33700, Bordeaux, France www.esvs.orB 8anker5.' Website.. Trustees The followlng Offlcers served as Trustees and made up the Executive Committee of the Soclety for the whole of the period from l January 2024 to the date of thls report unless stated otherwise.. The Presldent luntll September 20241 The Presldent Ifrom September 20241 The President Elect (from September 20241 The Deputy President-Elect (from September 20241 The Treasurer The Secretary General VES Edltor In Chlef Editor in Chief EJVES V05culor Forum Chairrnan of ESVS Academy Committee EVST Representative lan Loftus Sebastian Debus {Presldent-Elect to September 20241 Armando Mansilha (Deputy Presldent-Elett to September 2024} Nabil Chakfé Ireslgned I September 20251 Vincent Jongkind Maarit Venermo Martin 8jorck Arlndam Chaudhurl IBor Koncar Petar Zlatanovic The ESVS Council exlsts as an advlsory body to the Trustees wlth certaln speclfic responsibilities as deflned In the Article5 of Assoclatlon. It met twlce durlng the year, once on-line in May 2024 and then in person durlng the Annual Conference in Krakow in September 2024. The Societls Chief Executive Officer is Anastasia Mercherz, and the Chief Operatin8 Office 15 Natalie Helene, both based in Bordeaux, France.
European Society For Vascular Surgery Trustees, report for the year ended 31 December 20241continued) Structurè, Governance and Management Governing document The European Soclety for Vascular Surgery I"ESVS"} was incorporated on 2 September 2002 and registered with the Charlty Commission on 9 September 2002 as a charity whose purpose is to relieve sickness and to preserve and protect health by advanclng for the public benefit, the sclence and art and research Into vascular disease including (wlthout limitation) vascular surgery. On 30 September 2002, the actlvltle5 of an unincorporated charlty, The European Society for Vascular Surgery (registered number 10035341, were transferred to the Society, and the latter charity was dissolved. ESVS is a company limited by guarantee govemed by its Memorandum and Articles of Association dated 28 October 2002 and amended In September 2005, September 2011, October 2020 and September 2024. Since 2020, the nine members of the Executive Committee have formed the Board of Trustees land Directors for the purposes of Company Lawl whilst the Councll (which includes the Trustees) operates as an advisory body elected directly by members. The Articles of Assoclatlon authorise the Council to create Bye Laws, which were most recently updated in 2023. These cover a number of matters relatlng to the operation of the Soclety Including categorie5 of membershlp. The liablllty of the members of the company Ifull members of the Socletyl Is Ilmlted by their guarantee. In the event of the company belng wound up durlng the period of thelr membership lor wlthln the year followln81 they undertake to contrlbute such amounts as may be required, to a maximum of Él each. Subsldlories The charity has two artive sub51dlaries. European Vascular Surgery Trading Llmlted (EVSTLI manages a number of the Socletws actlvities and in turn owns SASU ESVS France, which operates the Society's administrative office. Durlng 2023 the charity had another actlve subsidiary, European Vascular Surgery Journals Limited. whlch managed its Journals. At the end of 2023 the actlvltles of this company were transferred to EVSTL. Appolntment of trustees ond offlcers The Board of Trustees is the Executive Commlttee, comprising the Presldent, Pre5ident-Elect, Deputy President-Elert, Secretary, Treasurer, Chalrman of the Academy Commlttee. Secretsry of the EVST {tralnee section of the Society) and Edltors In Chlef of the Society's two journal5. Officers (Presldent, Secretary and Treasurer) of the Charity are proposed for electlon at the Annual General Meetln8 on the nomlnation of the Councll and take office thereafter. The President serves a one-year term of office followin8 one year as Presldent Elect and one year a5 Deputy President Elert, 8lvin8 a three year period of servlce. An indivldual may only serve as Presldent once. The Secretary and the Treasurer are elected for a five-year term of office 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 Chairman of the ESVS Academy who are elected by member5 of the relevant committees. Succe550rs to the Secretary and Treasurer are elected at the Annual General Meeting one year in advance of when they assume duties and serve informally as Secretary- elect and Treasurer-elect in the year before they take office. Trustee induction and trainlng When new Trustees are appolnted, they recelve information from the Secretary advising them of thelr responslbllitie5 including informatlon supplied by the Charity Commlssion of England and Wales. They also receive the minutes of the previous meetings of the Executive Committee. New Councll Members receive information about their role as Countillors and mlnutes of the previous meeting of the Council. Orgonisatlon The Trustees meet In person at least six times each year. Three of these meetings are on-line whilst the other three are in per50n. Ad hoc on-line meetings are called if there is urgent business to be transacted between planned meetings. The ESVS council meets in person at the Annual Conference and on one other occasion online. The President chairs meetlngs of the Council, the Executive Committee and General Meetlngs. The organisation of the annual conference is undertaken by the Prrarnrne Committee, which works in conjunction wlth the Executive Committee and a Professional Congress Organiser IPCOI. The Trustees thank the large number of Sur8eons lestlmated to be around 2001 who voluntarily give of their tlme and expertise to enable the Society to further its charitable oblects.
European Society For Vascular Surgery Trustees, report for the year ended 31 December 2024 (Continued) Structure. Governante and Mana£ement (contlnued) Rlsk monogement policy The Trustees continue to monitor the major risk5 to which the Society might be exposed and take appropriate action as necessary to manage those ri5k5. The Charlty's Staff consider regularly the management of risk and using Key Performance Indicators report on a re8ular basis to the Trustees. Steps continue to be taken to reduce over-reliance on key individuals with wider sharing of Snformation. Related parties The Trustees have identified the Society's two wholly owned subsidiary companies, European Vascular Suryery Journals Limited and European Vascular Surgery Trading Limited, and the wholly owned subsldiary of the latter, SASU ESVS France, as being related parties. Members of the Executive Commlttee (listed above) are also related parties. In addition, some of the Trustees hold office withln their national Vascular Societies meanlng that these entities are also related parties. Details of transactions with related partie5 are provided in note 17 of the Financial Statements. Poy policyfor senior stoff With the exceptlon of the Secretary General all Trustees 8lve freely of thelr tlme to undertake their role as Trustees of the Soclety and none received remuneration In the year. Details of the Honorariurn pald to the Secretary General, honoraria paid to other Trustees for speclfic roles that they undertake for the Society and its subsidiarles and expenses paid to Trustees are given in note 8 of the flnanclal statements. The staff employed by SASU E5VS France and the Society are paid salaries commensurate wlth local rnarket conditions and the experlence of those employed. A number of other Indlvlduals are paid modest honor3rla for undertaklng specific ta5k5 for the Society and Its subsldlaries, but these In no way reflect the time commltment or the knowledge required of those Involved but are rather intended to make good some of thelr possible lost earnings in undertaking what is effectively voluntary work for the Soclety. Statement of Trustees, responslbllltles The Trustees (who are also dlrectors of the European Soclety for Vascular Sur8ery for the purposes of company lawl are responslble for preparing the Trustees, Annual Report and the financial statements In accordance with appllcable law and United Kin8dom Accountlng Standards (United Kin8dom Generally Accepted Accountin8 Practice). Company law requires the Trustees to prepare financlal statements for each financial year, whlch give a true and falr vlew of the state of affairs of the charitable company and of the Incoming resources and appllcatlon of resources, In¢ludlng the income and expendlture, of the charitable company for that perlod. In preparlnB these financlal statements, the Trustees are required to: select suitable accounting policies and then apply them conslstently; observe the methods and principles in the Charltles SORP IFRS 102}; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any materlal departures disclosed and explalned In the flnancial statements; prepare the financial statements on the goln8 concern bas15 unless it is inapproprlate to presume that the charitable company will contlnue In operation. The Trustees are responsible for keeplng adequate accounting records that disclose with reasonable accuracy at any time the flnanclal posltlon of the charitable company and enable them to ensure that the financial 5tatement5 comply wlth the Companies Act 2006. They are also responslble for safeguarding the assets of the charltable company and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularitie5.
European Society For Vascular Surgery Trustees, report for the year ended 31 December 2024 (contlnued) Auditors The Trustees have taken all of the steps that they ought to have taken to make themselves aware of 3ny inforniation needed by the cornpanrfs audltor5 for the purposes of their audit and to establish that the auditors are aware of that information. The trustees are not aware of any relevant audlt informatlon of which the auditors are unaware. A resolutlon proposlng the reappolntment of Azets Audlt Servlces will be put to the forthcoming Annual General Meetin8. In preparlng thSs report the Trustees have taken advantage of the exemptions applicable to small companies. Thi5 report was approved by the Trustees on 12 September 2025 and Is slgned on their behalf by Professor Maarlt Venermo Secretary and Trustee
European Society For Vaxular Surgery Independent Auditorfs Report to the members of the European So¢lety for Vascular Surgery for the year ended 31 December 2024 Oplnion We have audlted the financial statements of European Society for Vascular Surgery {the 'parent charitable cornpan) and its subsidiarie5 Ithe 'group'l for the year ended 31 December 2024 whlch comprise the Consolidated Statement of Flnancial Activity, Charity Statement of Financial Activity, Balance Sheets. Consolidated Statement of Cash Flows and notes to the financial statements, includlng si8nificant accounting policies. The financial reporting framework that has been applled in their preparation is applicable law and Unlted Kin8dom Accounting Standards, Including Financial ReportinB Standard 102 The Financial Reporting Stondord applicoble In the UK ond Republic of Irelond (United Klngdom Generally Accepted Accounting Practice). In our opinion the financial statements: glve a true and fair view of the state of the group's and parent charitable company's affalrs as at 31 December 2024, and of the group's incoming resources and applltatlon of resources, including its Income and expendlture, for the year then ended,, have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requlrements of the Companies Act 2006 and the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance wlth International Standards on Audltlng IUK) IISAS IUKII and applicable law. Our responsibilities under those standards are further descrlbed In the Audltor's responslbllltles for the audlt of the flnanclal statement5 section of our report. We are Independent of the group and parent charitable company In accordance with the ethical requlrements that are relevant to our audlt of the financial statements in the UK includlng the FRC's Ethical Standard, Ind we have fulfllled our other ethical responsibilities In accordance with these requlrements. We believe that the audlt evldence we have obtained Is sufflclent and appropriate to provide a basls for our opinlon. Concluslon$ relatlng to Kolnz concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accountlng In the preparation of the f inancial statements is appropriate. Based on the work we have performed, we have no identified any material uncertainties relatlng to events or ¢ondltlon5 that, individually or collectively, may case significant doubt on the group's or parent charitable companvs ability to tontinue as a goln8 concern for a period of at least twelve months from the flnancial statements are authorlsed for issue. Our responsibilities and the responsibilities of the trustees wlth respect to 80in8 concern are descrlbed in the relevant settlons of the report. Other Informatlon The other information comprlses the information included in the Trustee5' Report, other than the financial statements and our audltor's report thereon. The trustees are respon51ble for the other information contained within the Trustees, Report. Our opinion on the financial statement5 does not cover the other Informatlon and, except to the extent otherwise expllcltly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility Is to read the other infomiation and, in dolng so, conslder whèther the other Information is rnaterlally inconsistent wlth the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially mlsstated. If we Identify such material Inconslstencles or apparent material mi55tatements, we are required to determlne whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other informatlon, we are requlred to report that fact. We have nothing to report in this regard. Oplnlons on other m•tter5 prescrlbed by the Companies Art 2006 In our opinion. based on the work undertaken in the course of the audit: the Informatlon glven in the trustees, report Ilncorporatin8 the directors. report) for the financial year for which the financial statements are prepared is consistent wlth the financial statements; and the directors, Report has been prepèred in accordance wlth applicable legal requirements.
European Society For Vascular Surgery Independent Auditor's Report to the members of the European So¢lety lor Vascular Surgery for the year ended 31 December 2024 (contlnued) Matters on which we are requlred to report by exception In the light of our knowledge and understanding of the group and parent charltable company and Its environment obtained in the course of the audit, we have not identified material misstatements in the Directors, Report. We have nothing to report in respect of the followln8 matters in relation to whlch the Companie5 Act 2006 and the Charities Act 2011 requires us to report to you if. in our opinion: adequate and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or the parent charltable company's financial statements are not in agreement wlth the accounting record5 and returns; or certain dlsclosures of directors, remuneration speclfied by law are not made: or we have not received all the informatlon and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions In preparing the dlrectors, report and from the requirement to prepare a strategic report. Responslbllltles of trustees As explained more fully In the trustees, responsibllltles statement set out on page 7, the trustees (who are also the directors of the charltable company for the purposes of company lawl are responsible for the preparation of the flnancial statements and for belng satlsfled that they glve a true and falr vlew, and for such Internal control as the trustees determlne Is necessary to enable the preparation of financial statements that are free from materlal mlsstatement, whether due to fraud or error. In preparlng the financial statements, the trustees are responsible for assessing the group's and parent charltable companvs ablllty to continue a5 a golng concern. dlsclosin& as applicable, matters related to going concern and using the going concern basls of accountlng unless the trustees elther intend to liquldate the group or the parent charitable companv or to cease operations. or have no realistic alternatlve but to do so. Audltorfs responslbllltles for the audlt of the flnanclal statements We have been appointed auditor under the Companies Act 2006 and section 151 of the Charlties Act 2011 and report in accordance wlth those Acts. Our objectives are to obtaln reasonable assurance about whether the flnancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor'5 report that includes our opinion. Reasonable assurance is a high level of assurance, but 15 not a 8uarantee that an audit conducted in accordance with ISAS IUKI will always detect a material mi5Statement when it exists. Misstatements can arise from fraud or error and are considered materlal If, Individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, Including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responslbllltles, outlined above, to detect material misstatements in respect of irregularltSes, includin8 fraud. The specific procedures for thls engagement and the extent to whlch these are capable of detectlng Irregularities, including fraud Is detailed below: Enquiry of management and those charged with governance around actual and potentlal litigation and claims as well as actual, suspected and alleged fraud,. Reviewing minutes of meetlngs ofthose charged with governance; Assesslng the extent of compliance with the laws and regulations consldered to have a direct material effect on the financial statements or the operations of the 2roup through enqulry and inspection; Reviewing financlal ststement disclosures and testing to supporting documentatlon to a55ess compliance with applicable laws and regulatlons; and Performing audit work over the rlsk of management bias and override of controls, including testing of journal entries and other adjustments for approprlateness, evaluating the business rationale of significant transaction5 outside the normal course of business and reviewing accountlng estimates for indicators of potential bia5. io
European Soclety For Vascular Surgery Independent Audltorfs Report to the members of the European Sodety for Vas¢ular Suryery for the year ended 31 Dqcember 20241conllnued} Audltorfs re5ponslbllltles for the auth of the fln•nd•l statements (contlnued) Because of the Inherent Ilmltatlons of an audlt, there is a rlsk that we wlll not detert all Irregularities, Includln8 those leadlng to a materlal mlsstatement in the financial statements or non<ompllance th re8ulation. Thls rlsk increases the more that compllance with a law or regulation is removed from the events and transartlons reflected In the financial statements, as we wlll be less Ilkely to become aware of Instances (rf non-compllance. The rlsk Is also 8reater regardlnB irregularities occurrlng due to fraud rather than error. as fraud Involves Intentlonal concealmenL forgery• collusion. omlsslon or misrepresentatlon. A further descr•ption of our responslbllltles for the audlt of the flnanclal statements Is located on the Flnanclal Reportln8 Councll'5 website at: htt Jwww.frc.org.uk Our-work Audit Audit-and-a55urance Standards-and- uidance Standards- and-£uid2nce-for-3uditorslAuditors-responsibilities-for-audit Descri tion-of-auditors-res nslblllties-f r-audlt.as Thls descrSptlon forms part of our audltorfs report. of our report Thls report 1$ made solely to the charltsble compJnV5 rnernbers, as a body, In aceordance wlth Chapter 3 of Part 16 of the Companles Act 2006 and to the charltable companvs trustees, as a body, In accordance wlth Part 4 of the Charltles (Accounts and Reports} Regulatlons 2008. Our audlt work has been undertaken so that we mlght state to the charStable companvs members and Its trustees those matters we are requlred to state to them in an audltor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responslblllty to anyone other than the charitable company and the charltable compan(s members as a ldY and the charltable companrfs trustees as a body, for our audlt worl for thls report, or for the oplnlons we have formed. 4,J ALI kn,- Jon Noble FCCA15enlor Statutory Audltor) For and on behalf of Azets Audlt Services, Statutory Audltor. Gateway House, Tollgate, Chandler's Ford, Eastlel8h, Hampshlre, SO53 3TG li
European Soclety For Vascular Surgery Consolldated staternent of flnan¢lal activltles (Incorporatlng an Income and expendlture account) forthe year ended 31 Dernber 2024 Notes Unrestrlcted funds 2024 Restrirted funds 2024 Total funds 2024 Totsl funds 2023 Income Charitoble artivitie5.' Subscrlptions and donations Courses and meetings Publications and projects 484,333 2,021,445 80,000 484,333 2,021,445 80,000 405.764 1,685,163 Other trading actlvities: Commerclal trading operation5 450,903 450,903 459.863 Investment income 16,477 16,477 4,859 Other Income- exchange rate gains 13,298 13,298 Total Income 3.066.456 3,066A56 255,649 Expendlture on Ralslngfvnds,. Ralsln8 funds 326,268 326,268 343,247 Charltoble octivities.. Publlcatlons and projects Courses, meetlngs and re8lStry Grants 459,475 1,865,474 30,239 459,475 1,865,474 30,239 252,738 1,828,300 24.364 Total expendlture 2,681AS6 2,681.456 2,448,649 Net Income 385,000 385,000 107,000 Transfers between funds 20,000 {20,0001 Net movements In funds 405.IXIO (20.000) 385,000 107,000 Funds brought forward 1,712,267 20,000 1.732.267 1,625,267 Funds Carrled forward .117.267 2.117,267 1.732267 All amounts relate to continuing activitie5. The surplus for the year for the purposes of the Companies Act 2006 comprises the net movement in funds and amounted to £385,000 12023., £107,000). Detailed comparatlve informatlon 15 shown In note 20. The notes on pa8es 16 to 28 form part of these financial statements. 12
European Society For Vascular Surgery Charity statement of flnanclal actlvltles lineorporating an income and expenditure account) for the year ended 31 December 2024 Notes Unrestrlcted funds 2024 Restrlcted funds 2024 Total funds 2024 Total funds 2023 Income Chorituble ortivities.. Subscriptions and donations Courses and meetings 484,333 294,925 484,333 294,925 405,764 235,570 Investment Income 287.340 287,340 279,774 Other income- exchange rate gains 13,298 13,298 Total Income 1,079.896 1.079.896 921,108 Expendlture on Rolslngfunds.. Ralslng funds 121,907 121,907 104.228 Charltable octlvities.. Publicatlons and projects Courses and meetings Grants 259,018 333,852 30.239 259,018 333.852 30,239 195,951 308,796 215,656 Total resources expended 745,016 745.016 824.631 Net ifitome 33480 334,880 96A77 Transfers between funds 20,000 {20,000) Net movements In funds 354,880 {20.000) 33480 96077 Funds broughtforward 1,457,483 20,000 1,477,483 1,381.006 Funds carrled forward 18 (112.363 1,812,363 IA77,483 All amounts relate to contlnuln8 attlvltles. The surplus for the year for the purp05es of the Companies Act 2006 comprises the net movement in fund5 and amounted to É334,88012023'. £96,477}. Detalled comparatlve Information is shown in note 20. The notes on pages 16 to 28 form part ofthese financial statements. 13
European Society For Vascular Surgery Balance sheets as at 31 December 2024 Company number: 4524120 Notes 2024 Group 2024 Charfty 2023 Group 2023 Charlty Flxed assets Tangible assets Investments io li 9,039 7.731 9,039 7,731 cuTNt assets Debtors - due within one year Cash at bank and in hand 12 1.483,316 1,265,856 1,019,032 1,239,311 968,397 1,209,492 693,901 1.084,583 2,749,172 2,258,343 2,177,889 1,778,484 Credltors: amounts f•llln8 due wlthln on• year 13 1640,9441 1445,9821 1453,353) {301,003} Net current assets 2,108,228 1,812,361 1,724,536 1,477,481 Net assets 2,117,267 1012,363 1,732,267 ¢IA77A83 Fund$ Unrestrltted funds Restrlcted fund 18 2,117,267 18 1,812,363 1,712,267 20,000 1,457,483 20,000 Total funds 117,267 1,812,363 1.732,267 1,477,483 These financlal statements have been prepared In accordance wSth the provlslons appllcable to companies subject to the small companies, re8lme. The Trustees have prepared group flnanclal stalements In accordance wlth Section 398 of the Companies Art 2Ci16 and Sectlon 138 of the Charltles Act 2011. These financlal statements are prepared In accordance wlth the special provlslons of Part 15 of the Companles Act 2006 relatlng to small companles and constltute the annual accounts requlred by the Companles Art 2006 and are for clrculatlon to members of the company. Approved by the Trustee5 and authorlsed for155ue on 12 September 2025 and 518nÈd on thelr behalf by: Professor Maarft Venermo Trustee and Secretary General The notes on pages 16 to 28 forrn part of these financial statements. 14
European Soclety For Vascular Surgery Consolldated statement of $h flows for the year ended 31 December 2024 2024 2023 Net cash Inflow/(oufflow) from operatln8 artivitles (below) 45.211 (312.403) Coshfvwsfrom Investlng urtlvltles Investment income received Purchase of furniture and equipment 16,477 15,324 4,859 11,595) Net cash flow from Inve5tlng actlvltles 11,153 3,264 Cashflowsfromfinanclnq octlvltles {Decreaselllncrea5e In cash and cash equlvalents In the year 56,364 {309,1391 Cash and cash equlvalents brought forward 1,209,492 1,518,631 Cash and cash equlvalents carrled f¢rw•rd 1,265.856 1.209A92 Reconclllatlon of surplus to net cash Inflow from operatlng actlvltles Surplus for the year 385,000 107,000 Adjustments to recondle surplusfvr the year to net coshllowfmm opemtlnq ortlvltle5 Increase In debtors 1514,9191 Increaselldecrease) In credltors 187,591 Depreclation of tanglble fixed assets 4,016 Investment Income recelvable {16.477} {337,669} 80,4921 3,617 14,8591 Net cash Inflowl(outhow) from operatlng artlvltle$ 211 (312.4031 Analysls of chan8es In net debt Cash at l January Cash flows 1,209,492 56,364 1,518,631 1309,1391 Cash at 31 December 1,26S,856 1.209.492 There were no overdrafts, cash equSvalents or borrowings in either the current or comparative years. 15
European Society For Vascular Surgery Notes to the flnancial statements for the year ended 31 December 2024 Accountlng pollcles The princlpal accounting properties adopted, judgements and key sources of estimation uncertainty In the preparation of the financial statement5 are as follows: Basis of ottounting The financial statement5 have been prepared under the h15torical cost conventlon. with the exceptlon of investments, which are included at market value. The financlal statement5 have been prepared In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charitie5 SORP IFRS 1021}, the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the requirements of the Companies Act 2006. The charity exists as an entity for the public benefit and Is considered by the Trustees to be a 80in8 concern. The functional currency of the charity is the Euro. Groupfinanciol statements These financlal statement5 con501idate the results of the charity and its wholly owned sub51diaries, European Vascular Surgery Journals Limited, European Vascular Surgery Tradlng Llmlted IEVSTLI, and SASU ESVS France, whlch is wholly-owned subsidiary of EVSTL, on a line by Ilne basis. Income recognition Items of income are recognised and Included in the accounts when all of the followlng criteria are met: The charity or its subsidiaries have entitlement to the funds., Any performance conditlons attached to the Items of Income have been met or are fully withln the control of the charlty or Its subsidlaries,. o Recelpt of the income is consldered probable; o The amount can be measured reliably. Investment income is included when receivable and the amount can be measured reliably by the charltv. The charity beneflts from a contribution made by volunteers, who are not remunerated for their time. The value of services provided by volunteers Is not incorporated into these flnancial statements. Income Is deferred when the donor attaches condltions outside the charlty's own control or specifies that the resources are to be used in a future accountlng perlod. In addition future years, memberships or course fees are deferred until the year to whlch they relate is reached. Expenditure Expenditure is recognised once there is a le8al or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obllgation can be measured reliably. Expenditure is classified under the following activity headln85: o Costs of ralslng funds comprise the costs of commercial tradlng and admlnlstering the membership function,. Expenditure on charitable actlvltles includes the costs of publlcatlon5, courses, 8rants, Mastercl@ss. Translatlonal Meeting, the Annual Conference and other events. Irrecoveroble Volue Added Tox All resources expendeé are classified under attlvity headings that a88regate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which It was Incurred. Support Costs Support costs are derived from those funrtions, which assist the work of the charlty but do not directly undertake charitable activities. Support Costs include office cost5. finance. personnel, payroll and governance cost5 which 5UPPOrt the charity'5 activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities as set out in note 9. 16
European Society For Vascular Surgery Notes to the flnanclal statements lor the year ended 31 December 2024 {continued) Accounting pollcles (continued) Tongiblefixed osset5 Tangible fixed assets are stated at cost less deprecation. A55ets with a cost of less than Él.000 are not capitalised. Depreciation is provided at the rate of 25% or 33% per annum on cost In order to write off fixed assets over their estimated useful live5. Foreign currency Foreign currency transactlons are translated into Euros at the rates rullng when they occur, Foreign currency monetary assets and liabilltie5 are translated at the rates ruling at the balance sheet dates. Any dlfferences are taken to the Statement of Flnancial Activities. Investments Listed investments are valued In the balance sheet at their mid-market value at the balance sheet date. Investments In subsldlarles are valued at cost. The Statement of Flnanclal Activities includes the net gains and losses arlslng on revaluation and dlsposals throughout the year, Investment mana8ement t05ts are char8ed as expenditure as they are Incurred, Debtors Debtors are recogn15ed at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid after taking account of any trade dlscounts due. Cash ot bonk ond in hond Cash at bank and in hand includes cash and short-term hl8hly liquid investments with a short maturlty of three months or less from the date of acquisition or opening of the account. Credltors and provislons Credltors and provlslons are recognlsed when the charlty has a present obli8ation resultln8 from a past event that will probably result in a transfer of funds to a thlrd party and the amount due to settle the obll8atlon can be measured or estimated reliably. Creditors and provlslons are normally recognised at their settlement amount after allowing for any trade dlscount5 due. Operoting let75e5 Rentals appllcable to operatln8 leases are charged to the Statement of Financlal Actlvltles over the period to whlch the cost relates. Funds Unrestrlcted funds comprise those funds, whlch the trustees are free to use for any purpose in furtherance of the charltable oblects. Annual Conference All revenues and expenses associated with the Society's Annual Conference are included within the Consolldated Statement of Financlal Actlvities as Incoming resources and Resources expended even when an agent working on behalf of the Society incur5 them. Thls treatment Is adopted because the SocietV5 5ub5idiary Is ultlmately responsible for any deficlt whlch arlses from, and retain5 any surplus generated by, the Annual Conference. 17
European Society For Vascular Surgery Notes to the financlal statements for the year ended 31 December 2024 (contlnued) Courses and conferences 2024 2023 Group Income Conference events Courses and webinars 1,726,520 294,925 1,459,783 225,380 Total income 2.021,445 1,685,163 Expenditure Conference events Courses Webinars & e-library Support Costs (note 9) 1,126,793 181,949 2,703 554,029 1,066,536 119,615 36,405 605,744 Total expendlture 1,865,474 1,828,300 Net Income from / (cost of) courses and conferences 155,971 1143,137) Charlty Income Courses and webinars Conference events 294,925 225,380 10,190 Total income 294,925 235,570 Expendlture Conference events Courses Weblnars & e-library Support Costs Inote 91 19,178 119,615 36,405 133,598 181,949 2,703 149,200 Total expenditure 333,852 308,796 Net cost of courses and conference5 138,927} 173,2261 18
European Society For Vascular Surgery Notss to the flnancial statements for the year ended 31 December 2024 {continued} Investment income 2024 2023 Grnup Income from Ilsted investments and bank Interest 16.477 4,859 Chority European Vascular Surgery Journals Llmlted- Glft Aid Donation Income from listed investments and bank interest 273.177 14,163 279,774 287,340 279,774 Ralslng funds 2024 2023 Group Membershlp management servlces Support costs (note 91 Marketlng & Busine55 Development Costs of generatlng Income from subsldlarles 16,666 88,323 31,455 189,824 118,002 37,758 187,043 326,268 43.247 Charlty Membership management services MarketlnB & Busine55 Development Support costs (note 91 66,666 31,455 23,786 40,444 37,758 26,026 121,907 104,228 Publlutlons and projects- 8roup 2024 2023 Income European Venous Registry 80.000 Expendlture Journal subscription costs Guldellnes Guldellne App Vascunet European Research Hub European Venous Registry Support costs (note 91 148,629 46.392 24,099 20,750 226 58,791 160,588 134,399 27,556 4,500 20,116 3,233 62,934 Total expenditure 59,475 252,738 Net C05t of publication5 and projerts 1379,4751 {252,738} 19
European Soclety For Vascular Surgery Notes to the financial ststements for the year ended 31 December 2024 (continued) Publlcatlons and projerts- charlty 2024 2023 Expenditure Journal subscription costs Guideline5 Vascunet Support costs (note 9} 148,629 46,392 20,750 43.247 134,399 27,556 20.116 13,880 Total expendlture and net cost of publicatlons and projects 259,018 195.951 6 Net movement In funds 2024 2023 The net movement In funds for the year is stated after charging.. Audltors, remuneration - for servlces as auditors- Eroup Auditors, remuneratlon - for services as audltors- charity Depreclatlon- 8roup only 26,582 24,726 4,016 30,421 28,651 3,617 Grants 2024 2023 Group and chorlty Educational travel grants Direct support for Vascular Surgeons in Ukraine Amounts paid to partner organlsations 19,017 6,500 4,722 17.673 1,980 4,711 Totsl lor Group 30,239 24,364 Charlty Subvention to European Va5culor Sur8ery Tradin8 Limited 191,292 Total for Charlty 30,239 215,656 Grant5 were payable to nine 12023,, ten) Individuals. In 2023, É1,340 of Direct 5UPPOrt for Vascular Surgeons in Ukraine was paid from restricted funds12024'. Énil). Employee costs 2024 2023 Group Wages. salaries and honoraria Social security costs Pension contrlbutions 578,347 109,906 28,151 599,770 107,601 31,924 Tot31 716,404 739,295 20
European Society For Vascular Surgery Notes to the financlal statements for the year ended 31 December 2024 {contlnued) Employee Costs (continued) 2024 2023 Chorlty Wages, salarles and honoraria Social security costs Penslon contributions 67,962 1,797 2,586 66.257 2,553 72,345 68.810 The avera8e number of employees during the year was 2912023: 271 for the Group and four (2023: four) for the Charity. One employee12023- one) wlthln the group (not within the charity) received remuneration of more than 0,000. One Trustee recelved an honorarium amounting to (20,400 12023: one recelved (20,4001. Permlssion for these payments was prevlously obtalned from the Charity Commlsslon. The payment reflects the time spent by the Secretary In undertakin8 work on the Socletys behalf. Another Trustee recelved an honorarium amountlng to 12,00012023: £12,000) In respect of time spent lialslng wlth potential Sponsors and industry partners and not for work as a Trustee, which Is undertaken voluntarily, Elght 12023: ten) Trustees recelved relmbursement of expenses for travel or honorarla for pre5entlng courses amounting to É16,15012023: (28,1841. One Trustee recelved an honorarium amounting to (27.00012023: £24,200) and another Trustee received an honorarium of ,000 12023: ,000) from one of the Society's subsidiarles In connection with roles undertaken for the Societvs Journals in addition to their belng Trustees of the Charitv. Support costs 2024 2023 Charlty Travel costs Office costs Including webslte Employee costs Audit and accountancy Bank char8es, legal fees and insurance Exchange rate dlfferences 75,139 36,751 60,345 24,726 19,272 57,230 9,550 56,810 29,044 10,469 10,401 Total for Charfty Addltlonal Group support Costs Office costs including website Employee costs Audit and accountancy Bank charges, legal fees and insurance French Corporation Tax Depreclatlon 16,233 173,504 70,973 482,880 8,344 13,736 6.758 4,016 64,918 513,280 8.875 22,486 3,617 Total for Group 802,940 786.680 Support costs have been apportioned agalnst the artivities of the charty in accordance with estimated management tlme spent on each attivity as shown on the next page. 21
European Soclety For Vascular Surgery Notss to the financlal statements for the year ended 31 December 2024 (contlnued) Support tosts Icontlnued) AlltKotion of 5UPPOrt costs 2024 2023 Group Raising fund5 (note 41 Publications Inote 51 Courses and conferences (note 21 88,323 160,588 554,029 118,002 62,934 605.744 802,940 786,680 Churlty Raising funds (note 41 Publications {note 51 Courses and conferences (note 2} 23,786 43,247 149,200 26,026 13,880 133,598 216,233 173,504 10 Tan8lble fixed assets- £roup Offlce equlpment C05t At l January Additions Dlsposals 19,660 5,324 14,9621 At 31 December 2024 20,022 Depreciotlon At l January 2024 Provlded in year Eliminated on disposals 11,929 4,016 14,9621 At 31 December 2024 10,983 Net Book Volue At 31 December 2024 9,039 At 31 December 2023 7.731 11 Investments- Charlty Investments In Subsldlorle$ Cost At ljanuary and 31 December 2024 Historic cost at 31 December 2024 was É2 {2023: £21. The Investments in subsidlaries represent the whole of the issued share capital of European Vascular Sur8ery Journals Limited and European Vascular Surgery Trading Limited, both companies registered In England and Wales. 22
European Society For Vascular Surgery Notes to the financlal Statements for the year ended 31 December 2024 (contlnued) 12 Debtors 2024 2023 Group Trade debtors Other debtor5 28,727 1,454,589 25,019 943,378 1,483,316 968.397 Charlty Trade debtors Other debtors Due from sub51dlary companies Inote 17) 14,961 698,174 305,897 25,019 38,888 629,994 1,019,032 693,901 13 Credftors: amountsfalllng due wlthln one year 2024 2023 Group Trade creditors Other taxation and soclal security French Corpoiation Tax Accruals and deferred income 6,202 29.877 6,758 598,107 13,661 39,349 400,343 640,944 453,353 Charlty Trade credlto Other taxation and social securlty Accruals and deferred Income Amounts owed to subsidiary {note 17) 1,923 705 434,232 9,122 6,965 477 293,561 445.982 301,CQ3 14 Deferred Income- 8roup and ¢harlty 2014 2023 Balance at l January Amounts released to incoming resources Amounts deferred In the year 67,663 167.6631 131,599 39,054 139,054) 67,663 Balance at 31 December 131,599 67,663 Deferred income relates to membership and course fees and sponsorship received for future years. 23
European Society For Vascular Surgery Notes to the financial statements for the year ended 31 December 2024 (contlnued) 15 Exchange rate The accounts have been prepared using the Euro currency. The year-end rate of exchange used was É1.2092731£ 12023.. É1.15331£}. 16 Controlllng party The Society Is controlled by its Trustees, who are appointed by pr¢xedures explalned in the Tru5tees' report. 17 Related party transartlons During the year the charity received income under gift aid of the tradin8 proflts from European Vascular Surgery Journals Limited amounting to £273.17712023: É279.774}. During the previous year the charity made a subvention of 191,292 to European Vascular Surgery Tradin8 Llmlted wlth no such payment in 2024. At 31 December the charity owed É9,122 to European Vascular Surgery Journals Limited12023.' the charity was owed £238,459) and was owed 305,89712023: É391,5351 by European Vascular Surgery Tradin8 Limited. Durlng the year European Vascular Surgery Tradin8 Limited was involced É569,02512023: £568,732) and the charity was invoiced (56,759 (plus Irrecoverable VATI12023: (40,0001 by SASU ESVS France In respert of admlnlstratlon services and associated rechar8es. In 2023 the charlty pald £554 for catering services to The Royal College of Sur8eons of whlch Professor lan Loftus, then a Trustee of the Society, wa5 a Council Member. Thls transaction was on normal tradlng terms. There were no other transactions with related parties during the year and no other outstanding balances wlth related parties at 31 December 2024 or 2023. 18 Funds Atl January Transfers & Expendlture At31 December Income 2024- Group Unrestricted general funds European Venous Re8iStry Fund- deslgnated Open Access fee fund- designated 1,692,267 2,966,456 80,000 20.OIXI 12,622,665) (58,791} 20,000 2,036,058 21,209 60,000 20,000 Total unrestricted fund5 1,712,267 3,066,456 {2,661,4561 2,117.267 Open Access fee fund - restrlcted 20.000 120,01)01 Total restrirted funds 20,000 120,0001 Total funds 1,732.267 ,066,4S6 12,681,456) a,117,267 2024- Charlty Unrestricted funds Open Access fee fund - designated 1,437,483 20,000 1,059,896 20,000 1745,0161 20,000 1,752,363 60,000 Total unrestricted funds 1,457,483 1,079,896 1725,0161 1,812,363 Open Acces5 fee fund - restrlcted 20,000 120,000} Total restricted funds 20,000 120,0001 Total funds aA77,483 1,079,896 1745,016) 1,812,363 24
European Soclety For Vascular Surgery Notss to the financial statements for the year ended 31 December 2024 Icontinued 18 Funds (continued) Atl January Transfers & Expendlture At31 December Income 2023- Group Unrestricted 8eneral fund5 Open Acce55 fee fund- designated 1.605,267 2,534,309 20,000 {2,447,3091 1,692,267 20,OIX) Total unrestritted funds 1,605,267 2,554,309 12.447,309) 1,712,267 Open Access fee fund - restricted Ukraine relief fund - restrlrted 20,000 20,000 1,340 11,3401 Total restrlcted funds 20,000 1,340 (1,340) 20,000 Total funds ,625,267 Q,555,649 2A48.649) a.732.267 2023- Charlty Unrestrlcted funds Open Access fee fund- designated 1,361,006 899,768 20,000 1823,2911 1,437,483 20,000 Total unrestrlcted funds 1,361,006 919,768 1823,2911 1,457,483 Open Access fee fund - restricted Ukraine relief fund- restricted 20,000 20,000 1,340 11,340) Total restricted funds 20,000 1,340 {1.3401 20,000 Total lunds 1381.006 921.108 (824.631) 1,477,483 The Open Access fee funds (de5i8nated and restrlrted) represent amounts set aslde by the Trustees Ideslgnatedl or the Directors of EVSJL Irestrictedl to be used at the discretlon of the Editors of EJVES to cover publicatlon fees for papers whose authors are not in a posltlon to pay such fees themselves, if at some point in the future, the EJVES becomes an entlrely Open Access Journal. During the year, the Directors of EVSJL released the restricted fund and the Trustees transferred the balance to the designated fund. The Ukralne rellef fund represents amounts to be used to provide support for Vascular Surgeons workin8 in Ukraine. Analysis Qf net ossets byfund 2024-Group Fixed assets Current Assets Current Llabilitles Totsl Vnre5tricted general funds European Venous ReBlStry Fund - designated Open Access fee fund- deslgnated 9,039 2,667,963 21.209 60,000 1640.9441 2,036.058 21,209 60,000 Totals 9,039 2,749,172 1640,944) 2,117,267 25
European Soclety For Vascular Surgery Notss to the flnanclal statements for the year ended 31 December 20241continued} 19 Net Income from tradlng activitie5 of subsldlarles The Charlty has two directly owned subsidiaries, European Vascular Sur8ery Journals Llmlted and European Vascular Sur8ery Tradlng Limited, both of which are incorporated in England and Wales. European Vascular Surgery Trading Limlted has one wholly owned Subsidiary, SASU ESVS France, which is incorporated in France. Europeon V05cular5urqery Journ015 Limited Its principal activity until 31 Decernber 2023 was the management of the Society's Journals after whlch it ceased trading. A summary of the subsIdiaS trading results is shown below. The company's accounts are exempi from statutory audit and have been filed with the Reglstrar of Companies. 2024 2023 Profit und loss account Turnover and other Income Administrative expenses Gift ald payment to European Society for Vascular Surgery 464,722 1191.5431 1279,7741 1273,1771 Loss reported by subsldlary 1273,177} {6.5951 The net assets of the Subsidiary at 31 December 2024 were É2,408 {2023: £275,585). The charity owns the whole of it5 subsidiarf5 Share capltal, European V05cular Trading Limlted Its prlnclpal activity IS the organisation of conference5 and events as required by the Charity and, since l January 2024, the management of the Societ¢5 Journals. A summary of the subsidlarvs tradin8 results Is shown below. The company's accounts are exempt from statutory audit and have been filed wlth the Registrar of Companles. Proflt ond Ios5 account Turnover Subvention from European Soclety for Vascular Surgery Admlnlstratlve expenses 2,259,737 1,449,593 191,292 11,640,885} 11,969,277) Profit retained in subsidiary 290,460 The net assets of the subsidiary at 31 December 2024 were Q90,46112023: Éll. The charity owns the whole of its subsidiary's share capital. SASU ESVS Fronce Its prlnclpal activity is the provision of administratlon services. A summary of the sub51diary'5 trading results is shown below. The company's accounts have been audited and have been filed with the appropriate authorlty In France. Pmflt ond loss account Turnover Administrative expenses Corporation Tax Divldend paid to European Vascu lar Sur8ery Trading Limited 635,784 1596,1891 16,7581 608.732 1591,6141 Profit retained in subsidiary 32,837 17.118 The net assets of the Subsidiary at 31 December 2024 were É12,03912023'. net liabilities É20,7981. European Vascular Surgery Trading Limited owns the whole of the subsidiarfs share capital. 26
European Soclety For Vascular Surgery Note5 to the financlal statements for the year ended 31 December 2024 (contlnued) 20 Comparatlve Informatlon Consolldotedstotement offlnanclol octlvitiesfvr the year ended 31 December2023 Note$ Unre5tr1rted funds 2023 Restrlcted fund$ 2023 Total funds 2023 Incorne Choritoble ortivitie5.' Subscriptions and donations Courses and meetings Other trading actlvlrles.. Commercial trading operatlons Investment income 404,424 1,685,163 1,340 405,764 1,685,163 459,863 4,859 459,863 4,859 Total Income 2,554,309 1,340 2.555,649 Expendlture on Roislngfunds.. Raisin8 funds Charltable octivities.. Publications and apps Courses and meetin8s Grants 343.247 343,247 252,738 1,828,300 23.024 252,738 1,828,300 24,364 1,340 Total expendlture 2.447.309 1.340 2,448.649 Net movements In funds 107,000 107,000 Funds brousht forwird 1,605,267 20,000 1,625,267 Funds farrled forward 1,712,267 0,000 ,732,267 27
European Society For Vascular Surgery Notes to the financlal statements for the year ended 31 December 2024 (eontlnuedl 20 Comparatlve Information (continued) Chorlty stotement oAllnan¢iol ortlvltlesfvr the year to 31 December2023 Notes Unrestricted funds 2023 Restrirted fund5 2023 Total funds 2023 Income Chorftable a¢tlvltles.' Subscriptions Courses and meetlngs 404,424 235,570 1,340 405,764 235,570 Investment income 279,774 279,774 Totsl Income 919,768 1.340 921,108 Expendlture on Roisingfunds.. R3i5in8 funds Choritable activities.. Publlcatlon5 Courses and meetin85 Grants 104,228 104,228 195,951 308,796 214,316 195,951 308.796 215.656 1,340 Total resources expended 823,291 1,340 824,631 Net movements In funds 96,477 96,477 Funds brought forward 1,361.006 20,000 1,381,006 Fund$ tarried forward IA57.483 20.000 UA77N83 21 General Inlormatlon The entity Is a charStable company limited by guarantee Incorporated in England and Wales. The address of its re8lStered office is 18 Saxon Way, Romsey, S0515PT. 22 Operatln8 lease commltments At 31 December 2024, the charlty had no commitments under non-cancellable operating lea5es12023: none}. 28