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← The British Transplantation Society

2020-10-31-accounts

Charity Registration No. 1098584

Company Registration No. 4691176 (England and Wales)

THE BRITISH TRANSPLANTATION SOCIETY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

THE BRITISH TRANSPLANTATION SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr N Torpey (Appointed 4 March 2020) Professor S J Wigmore Miss L Burnapp Dr S V Griffin Secretary Dr S V Griffin Charity number 1098584 Company number 4691176 Registered office Chester House 68 Chestergate Macclesfield Cheshire SK11 6DY Auditor Mitchell Charlesworth LLP 3rd Floor 5 Temple Square Temple Street Liverpool Merseyside L2 5RH Bankers Bank of Scotland plc West End Office 14-16 Cockspur Street London SW1Y 5BL

THE BRITISH TRANSPLANTATION SOCIETY

CONTENTS

Page
Trustees' report 1 - 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 - 23

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT)

FOR THE YEAR ENDED 31 OCTOBER 2020

The trustees (who are also the directors of the company for the purposes of company law) present their report and the audited financial statements of the charity for the year ended 31 October 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The principal activities of the company are to advance transplantation by: -

By being the voice of transplantation for all solid organs within the UK, the Society aims to benefit the general public and patients by ensuring that up-to-date knowledge and best practice in transplantation is shared widely between all professional groups, that research that advances the understanding of transplantation is supported and encouraged and that the media is engaged to promote the benefits of organ donation and transplantation and to ensure accurate representation of topical news items.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

Achievements and performance

Kingston Smith Association Management (KSAM) continued to provide support as the BTS secretariat during 2019/20.

The Society had an active year in 2019/20, consolidating activities in line with the strategic plan , originally published in 2015 and reviewed in June 2 0 17. Key priorities are to:

No area of clinical care has escaped the appalling impact of the COVID 19 pandemic, and transplantation is no exception to this. The contribution of the Society to the response of the transplant community is detailed below.

Enhanced Council representation across all organ groups has continued to encourage engagement with the Society, increase membership and integration between all professional groups , including those that have been traditionally under - represented within BTS. The Chapter of Nurses is increasingly active and offers membership support for more academic activities .

The Society has four affiliated organisations: The Herrick Club, Solid Organ Transplant Pharmacists Association , British Liver Transplant Group and the British Urology Transplant Society (which became an affiliated society in 2019) . The Society continues to welcome applications in line with the policy agreed in 2016.

The Executive and Council continue to represent the Society’s views to a number of organisations including: the NHS Blood and Transplant advisory and strategy groups and National Organ Donation Committee; The Association of Surgeons of Great Britain and Ireland; The National Institute of Health and Clinical Excellence; The Renal Association; The British Renal Society; the UK Renal Registry; the Renal Transplant Clinical Reference Group for NHS England; the Kidney Health Partnership and other professional organisations . During the past four years , the BTS has been invited to co - host an increasing number of joint sessions at other professional society meetings and Congresses, for example UK Kidney Week (run by the Renal Association and British Renal Society) . A policy is now in place to engage in these events, whilst ensuring that there is mutual benefit to all Societies involved .

The redevelopment of the public-facing website in 2016 was welcomed by members and has enhanced the profile of the Society. The website has been crucial over the last year in dissemination of regular updates in relation to SARSCoV-2. This is maintained and managed by Thumb Design who delivered the redesign. At that time, it was agreed that KSAM would retain operational control of the more complex members' area of the website and update it to ensure that it was fit for purpose. This was successfully completed in 2017 and the continuity of these essential membership functions has been maintained throughout. The website provides updates on events of interest, a link to the Executive Committee newsletters and links to minutes of relevant meetings at which the society has representation.

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

The BTS appointed a Communications Officer for the first time in 2016 on a sessional basis. This provided a useful point of contact to facilitate responses to media and news enquiries in a timely and consistent manner and in developing social media communications and policies for the Society. The current Officer will be standing down and the Council is considering her replacement.

The Society continued its on-going work drafting and revising standards and guidelines either alone or in collaboration with other societies for the clinical management of various aspects of transplantation. The Guidelines and Standards produced by the Society are accredited by NICE and have developed a global reputation. 2019 saw the publication of the Guidelines for the Management of Pancreas and Islet Transplantation. The current Chair of the committee is standing down and his successor appointed in early 2020.

The Society has an active bursary scheme, which supports a maximum of 10 non-consultant members up to £500 each to attend national and international meetings and educational events. The bursary scheme has been reviewed and criteria for applications revised to improve awareness of the scheme and to ensure equitable allocation and representation across all sectors of the Society. Seven bursaries were awarded in 2019/20.

Strategic Report

Review of activities

Annual General Meeting

The Annual General Meeting (AGM) of the Society took place on Wednesday 4 March 2020 during the 23rd Annual Congress in Belfast. The results of the 2020 elections to the Council and Sub-Committees were announced. The election was run on-line by Civica Election Services (formerly known as the Electoral Reform Services). 269 of 606 eligible members voted, representing a turnout of 44.4%. Seven Council positions (one Executive) were included in the election, and seven sub-committee positions. The following changes to the Trustees took place at the AGM:

Stood down at end of term: Dr R Hilton

Appointed: Dr N Torpey (to treasurer)

The next AGM will be held on Tuesday 23 February 2021.

Annual Congress

The 2 3rd Annual Congress of the Society was held between 6 and 8 March 2020 at the International Convention Centre, Belfast. Over the three days, 549 delegates attended (compared to 851 in 2019, when the Congress was held jointly with NHSBT, and 574 in 2018, our last stand-alone Congress). A total of 233 abstracts were submitted for presentation (compared to 296 in 2019). 226 abstracts were accepted, 49 for oral presentations and 177 as posters (37 moderated, 140 standard).

The overall theme of the Congress was “It’s good to talk: collaboration in transplantation” and was opened by Mary Jo McCanny, Director of Visitor Servicing, Visit Belfast. We were delighted to welcome Professor Steve Yule to the opening plenary session when he spoke about teamworking and human factors.

The Congress opened with a new session, the BTS Dragon’s Den: clinical trials and research for trainees in transplantation. Six studies were shortlisted for presentation to the “Dragons” - four clinical trials and two cohort studies. There were three educational sessions, focussed on Collaborative Research, Organisational and Systems Collaboration and Clinical MDT Collaboration. The two industry-sponsored symposia were “Matching donors and recipients: are we there yet” and “How can we achieve optimum outcomes for highly sensitised kidney transplant candidates?”

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

There were seven submissions for the Sir Roy Calne Award for the best peer-reviewed paper. The winner was Zubir Ahmed from Guy’s and St Thomas’ for his paper “Prophylaxis of Wound Infections Antibiotics in Renal Donation (POWAR): A UK Multicentre Double-Blind Placebo Controlled Randomised Trial”, published in the Annals of Surgery (272 (1):65-71, 2020).

The Medawar Medal for the best clinical abstract presented was awarded to Siobhan McKay, University Hospitals Birmingham NHS Foundation Trust for her paper “Normothermic Machine Perfusion of the Liver to Enable transplantation in difficult recipients (NAPLES)”, and for the best science abstract to Hannah Wilkinson, King’s College London, for her paper “Thrombin fine tunes innate immune cell function in models of localised antigen”.

The next Congress was originally confirmed as being held between 24 and 26 February 2021 in Manchester. Due to the on-going impact of the COVID-19 pandemic, the decision was taken to move to an on-line platform. The revised virtual Congress will take place on 24 and 25 February 2021.

Research Network development

The inaugural meeting of the UK Organ Donation and Transplantation Research Network was held at the Royal Free Hospital on 11 February 2020, jointly sponsored by the BTS and NHSBT. All UK transplant units were represented. The morning board meeting established the terms of reference for the Network and discussed key metrics and future measurements of success. The afternoon focussed on Patient and Public Engagement, with discussions of patient priorities for future research. The Network has matured over the year, appointed a project manager (funded by NHSBT and Kidney Research UK) and supported 14 grant applications.

Living Donor Forum and Winter Ethics Symposium

The combined Living Donor Forum and Winter Ethics Symposium was held in York on 28 November 2019. The theme was Expanding the Living Donor Pool: Incentives and Beyond. The Hoffenberg Lecture was delivered by Dr Julian Koplin, Research Fellow with the Biomedical Ethics Research Group, University of Melbourne.

Education

Several members of the society have contributed to the online educational resources of the European Society of Organ Transplantation (ESOT).

COVID-19

The majority of UK transplant units closed for a variable period at the start of the pandemic and there was an urgent need to provide information to the transplant community about the safety of donation and potential risk to the incident and prevalent recipient populations. The society has worked closely with NHSBT to ensure the provision of timely, accurate and consistent information. Early in the pandemic the clinical guidelines were updated every two weeks, reflecting the speed at which knowledge was increasing. We contributed to two webinars explaining the background to the pandemic and the impact on transplantation services. More recently, the BTS has provided representation to the vaccine implementation group established by the Renal Association.

NHSBT Strategy Document

Following stakeholder events held across the UK in 2018, the BTS Executive and many Council members have contributed to the NHSBT strategy document - Organ Donation and Transplantation: Meeting the Need. A ten-year vision for organ donation and transplantation in the United Kingdom.

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

How the Charity operates for the public benefit

By being the voice of transplantation for all solid organs within the UK, the Society aims to benefit the general public and patients by ensuring that:

  1. Up-to-date knowledge and best practice in transplantation are shared widely between all professional groups and throughout the wider transplant community.

  2. Research that advances the understanding of transplantation is supported and encouraged.

  3. The media is engaged to promote the benefits of organ donation and transplantation and to ensure accurate representation of topical news items.

Financial review

The results for the year and the charity’s financial position at the end of the year are shown in the attached accounts .

The statement of financial activities shows a net deficit for the year of £6,711 (2019: surplus of £ 33,081 ) and total reserves now stand at £ 262,099 (2019: £2 68,809 ).

Reserves policy

The Council reviews its reserves policy on a yearly basis .

The Council has established that the target level of general funds (being unrestricted and undesignated) in the Society is £12 0,000. These are required to: -

The current level of general funds remains above the reserve.

The reserves policy will continue to be monitored by the trustees .

Investment Powers and Policy

Under the Memorandum and Articles of Association , the charity has the power to invest in any lawful way the trustees wish .

Risk review

The trustees continually assess the major risks to which the Society is exposed , particularly those related to the operations and finances of the organisation and are satisfied that systems are in place to mitigate the Society’s exposure to the major risks.

The trustees regard the major risks to be the loss of one or more corporate sponsors , and having to cancel the Annual Congress requiring reimbursement of the income generated resulting in a deficit from costs that will have been incurred and which would not be recoverable .

Future developments

The Society will continue to be the voice of solid organ transplantation in the United Kingdom and aim to deliver and review its Strategic aims to reflect the views and requirements of the membership . It has committed to exploring the options for increasing patient and public engagement in its future activities .

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

Structure, governance and management

The charity is constituted as a company limited by guarantee and governed by its Memorandum and Articles of Association. There is no share capital and every member of the company undertakes to contribute to the assets of the company while he/she is a member or within one year after he/she ceases to be a member, such amounts as may be required, not exceeding £1.00 in the event of winding up. The company is registered under the Charities Act 2011 (No. 1098584) and as such is not liable to income tax, corporation tax and capital gains tax.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr N Torpey Dr R Hilton Professor S J Wigmore Miss L Burnapp Dr S V Griffin

(Appointed 4 March 2020) (Resigned 4 March 2020)

Appointment of trustees

The trustees of the Society are appointed at general meetings, each individual appointment being for a term of office not exceeding the number of successive years as specified in the Rules.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisation

The business of the Society is managed by the Trustees , who may exercise all the powers of the Society. The Trustees of the Society shall be the President, Vice President, Treasurer and General Secretary .

The Council consists of the four Trustees together with elected councillors and other persons co - opted to Council for specific tasks or in support of the work of the Council. The Council has responsibility for the strategic direction of the Society and is the forum for discussion regarding specific issues , which may affect the Society or its members. The Council also has responsibility regarding the planning and management of the annual meeting of the Society . Some of the organisation of this meeting is delegated to the Congress Organising Committee but final decisions rest with the trustees .

The Society has established Committees to manage specified aspects of the Society’s activities . There is a minimum of Ethics , Education , Clinical Trials and Research and Standards Committees. Each Committee has a chairperson who is either co - opted by Council or elected by the members for a period of three years. The responsibilities of the Committees and the Committee chairpersons are set out in the rules of the Society . No Committee shall act independently of the Council and final authority , including overall financial matters of the Society , rests with the trustees .

Trustee induction and training

A standard induction procedure and training is provided to all new trustees taking up office.

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

Statement of trustees' responsibilities

The trustees, who are also the directors of The British Transplantation Society for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

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

Auditor

In accordance with the company's articles, a resolution proposing that Mitchell Charlesworth LLP be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' r eport, including the strategic report, was approved by the Board of Trustees.

Dr S V Griffin

Trustee Dated: 23 February 2021

THE BRITISH TRANSPLANTATION SOCIETY

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE BRITISH TRANSPLANTATION SOCIETY

Opinion

We have audited the financial statements of The British Transplantation Society (the ‘charity’) for the year ended 31 October 2020 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

THE BRITISH TRANSPLANTATION SOCIETY

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE BRITISH TRANSPLANTATION SOCIETY

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the d irectors ' r eport included within the trustees' r eport.

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

Responsibilities of trustees

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

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

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http s ://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

THE BRITISH TRANSPLANTATION SOCIETY

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE BRITISH TRANSPLANTATION SOCIETY

Use of our report

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

Mitchell Charlesworth

Philip Griffiths (Senior Statutory Auditor) for and on behalf of Mitchell Charlesworth LLP

23 February 2021

Chartered Accountants Statutory Auditor

3rd Floor 5 Temple Square Temple Street Liverpool Merseyside L2 5RH

THE BRITISH TRANSPLANTATION SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2020

Unrestricted
Restricted
funds
funds
2020
2020
Notes
£
£
Income from:
Donations and legacies
3
1,503
-
Charitable activities
4
334,652
-
Investments
5
592
-
Total income
336,747
-
Expenditure on:
Charitable activities
6
337,340
6,117
Gross transfers between
funds
-
-
Net (expenditure)/income for
the year/
Net movement in funds
(593)
(6,117)
Fund balances at 1
November 2019
205,617
63,192
Fund balances at 31
October 2020
205,024
57,075		 TotalUnrestricted
Restricted
funds
funds
2020
2019
2019
£
£
£
1,503
839
-
334,652
405,960
-
592
921
-
336,747
407,720
-
343,457
372,941
1,698
-
(2,377)
2,377
(6,710)
32,402
679
268,809
173,215
62,513
262,099
205,617
63,192		 Total
2019
£
839
405,960
921
407,720
374,639
-
33,081
235,728
268,809

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE BRITISH TRANSPLANTATION SOCIETY

BALANCE SHEET

AS AT 31 OCTOBER 2020

2020 2019
Notes £ £ £ £ £ £
Fixed assets
Intangible assets 13 - 900
Current assets
Debtors 16 70,239 70,239 90,487 90,487
Cash at bank and in hand 263,951 263,951 281,753 281,753
334,190 334,190 372,240 372,240
Creditors: amounts falling due within one
year 17 (72,091) (104,331)
Net current assets 262,099 267,909
Total assets less current liabilities 262,099 268,809
Income funds
Restricted funds 19 57,075 63,192
Unrestricted funds 205,024 205,617
262,099 268,809

The financial statements were approved by the Trustees on 23 February 2021 NIP UU Mr N Torpey Trustee

Company Registration No. 4691176

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

1 Accounting policies

Charity information

The British Transplantation Society is a private company limited by guarantee incorporated in England and Wales. The registered office is Chester House, 68 Chestergate, Macclesfield, Cheshire, SK11 6DY. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The nature of the charity's operations and principal activities are described in the Trustees' Report on pages 1 to 7 of these financial statements.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income from charitable activities incorporating membership fees is deferred until entitlement to the income has passed when received in advance.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

1 Accounting policies

(Continued)

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

Investment income is earned through holding assets for investment purposes such as bank deposits and largely comprises interest. Interest income is recognised using the effective interest method.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised when there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a pro-rata basis consistent with the use of the resources.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website

33% per annum

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment

20% per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

1 Accounting policies

(Continued)

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

The charity is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1, Schedule 6 of the Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

1 Accounting policies

(Continued)

1.12 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value , the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Donations and gifts 1,503 839

4 Charitable activities

Subscriptions &
memberships
Congress &
meetings
2020
2020
£
£
Corporate subscriptions
50,000
-
Individual memberships
59,770
-
Annual Congress income
-
212,276
Other meetings income
-
12,606
109,770
224,882		 Total
2020
Subscriptions &
memberships
Congress &
meetings
2019
2019
£
£
£
50,000
31,667
-
59,770
56,775
-
212,276
-
301,674
12,606
-
15,844
334,652
88,442
317,518		 Total
2019
£
31,667
56,775
301,674
15,844
405,960

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

5 Investments

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Interest receivable 592 921

6 Charitable activities

Annual Congress
Other meetings
Grant funding of activities
(see note 7)
Share of support costs (see
note 8)
Share of governance costs
(see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 Grants
payable
Congress &
other
meetings
2020
2020
£
£
-
209,359
-
16,096
-
224,328
4,978
-
-
101,664
-
11,360
4,978
338,479
2,079
335,261
2,899
3,218
4,978
338,479		 Total
2020
£
209,359
16,096
225,455
4,978
101,664
11,360
343,457
337,340
6,117
343,457		 Grants
payable
Congress &
other
meetings
2019
2019
£
£
-
249,881
-
14,729
-
264,610
1,918
-
-
96,491
-
11,620
1,918
372,721
1,554
371,387
364
1,334
1,918
372,721		 Total
2019
£
249,881
14,729
264,610
1,918
96,491
11,620
374,639
372,941
1,698
374,639

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

7 Grants payable

Grants payableGrants payable Grants payableGrants payable
2020 2019
£ £
BTS Bursary 2,899 364
Medawar Medal 2,079 1,554
4,978 1,918

8 Support costs

Support costs
Governance
costs
2020Support costs
Governance
costs
£
£
£
£
£
Depreciation
900
-
900
8,760
-
IT and software
10,964
-
10,964
6,713
-
Printing, postage and
stationery
1,491
-
1,491
1,372
-
Legal and professional
-
-
-
300
-
Secretariat
64,788
-
64,788
63,520
-
Bank charges
3,772
-
3,772
3,671
-
Bad debts
518
-
518
2,000
-
Irrecoverable VAT
19,231
-
19,231
10,155
-
Audit fees
-
6,045
6,045
-
6,522
Trustee expenses
-
1,447
1,447
-
1,266
Council member expenses
-
3,868
3,868
-
3,832
101,664
11,360
113,024
96,491
11,620
Analysed between
Charitable activities
101,664
11,360
113,024
96,491
11,620
9
Net movement in funds
2020
£
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's auditor for the audit of the company's financial
statements
6,045
Amortisation of intangible assets
900		 2019
£
8,760
6,713
1,372
300
63,520
3,671
2,000
10,155
6,522
1,266
3,832
108,111
108,111
2019
£
6,522
8,760

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. The total amount of reimbursed expenses was £1,447 (2019 £1,266) made to four trustees (2019 - four). At 31st October 2020 the balance outstanding was £Nil (2019 £Nil).

11 Employees

There were no employees during the year.

12 Taxation

The company is a registered charity and no provision for taxation is considered necessary.

13 Intangible fixed assets

Cost
At 1 November 2019 and 31 October 2020
Amortisation and impairment
At 1 November 2019
Amortisation charged for the year
At 31 October 2020
Carrying amount
At 31 October 2020
At 31 October 2019		 Website
£
28,250
27,350
900
28,250
-
900

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

14
Tangible fixed assets
Cost
At 1 November 2019
At 31 October 2020
Depreciation and impairment
At 1 November 2019
At 31 October 2020
Carrying amount
At 31 October 2020
At 31 October 2019
15
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
16
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 Equipment
£
4,422
4,422
4,422
4,422
-
-
2020
2019
£
£
306,956
313,774
13,959
10,731
2020
2019
£
£
42,885
31,621
27,354
58,866
70,239
90,487		 Equipment
£
4,422
4,422
4,422
4,422
-
-
2020
2019
£
£
306,956
313,774
13,959
10,731
2020
2019
£
£
42,885
31,621
27,354
58,866
70,239
90,487
4,422
4,422
4,422
-
-
2019
£
313,774
10,731
2019
£
31,621
58,866
90,487

Bad debts totalling £518 were provided for during the year (2019 £2,000).

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

17 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
18
Trade creditors
Accruals and deferred income		 2020
£
5,697
52,435
8,140
5,819
72,091		 2019
£
733
92,867
3,409
7,322
104,331
18 Deferred income
2020 2019
£ £
Other deferred income 52,435 92,867

Deferred income comprises membership deferrals and income relating to the 2021 Annual Congress and other meetings.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 November
2018
£
Clinical Trials Fund
19,521
Hoffenberg Memorial Lecture
Fund
27,480
BTS Bursary Scheme
15,512
62,513		 Resources
expended
£
-
(1,334)
(364)
(1,698)		 Transfers
Balance at
1 November
2019
£
£
-
19,521
346
26,492
2,031
17,179
2,377
63,192		 Resources
expended
Balance at
31 October 2020
£
£
-
19,521
(3,218)
23,274
(2,899)
14,280
(6,117)
57,075		 Resources
expended
Balance at
31 October 2020
£
£
-
19,521
(3,218)
23,274
(2,899)
14,280
(6,117)
57,075
57,075

The Clinical Trials Fund represents income from the National Kidney Research Fund which is available for use by the Clinical Trials sub-committee.

The Hoffenberg Memorial Lecture Fund represents a donation to fund an annual lecture on transplantation in honour of the memory of Sir Raymond Hoffenberg.

The BTS Bursary Scheme balance represents monies previously provided by the pharmaceutical companies, Astellas and Novartis, for a bursary scheme to allow members to attend the American Transplantation Congress and the European Society for Organ Transplantation Congress. The schemes have not been renewed but the companies concerned have allowed the Society to retain the balance of monies to fund future bursaries for attendance at BTS's own meetings.

20 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2020
2020
£
£
Fund balances at 31
October 2020 are
represented by:
Intangible fixed assets
-
-
Current assets/(liabilities)
205,024
57,075
205,024
57,075		 TotalUnrestricted
funds
Restricted
funds
2020
2019
2019
£
£
£
-
900
-
262,099
204,717
63,192
262,099
205,617
63,192		 Total
2019
£
900
267,909
268,809

21 Capital commitments

There were no capital commitments at 31st October 2020 (2019 - £Nil).

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

22 Related party transactions

There were no disclosable related party transactions during the year (2019 - none).

In the opinion of the trustees there is no ultimate controlling party.