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← The British Transplantation Society

2023-10-31-accounts

Charity registration number 1098584

Company registration number 4691176 (England and Wales)

THE BRITISH TRANSPLANTATION SOCIETY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

THE BRITISH TRANSPLANTATION SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees N Torpey
C Wilson
K Menon
R Baker (Appointed 1 March 2023)
Secretary C Wilson
Charity number 1098584
Company number 4691176
Registered office St James House
Vicar Lane
Sheffield
S1 2EX
Auditor Mitchell Charlesworth (Audit) Limited
3rd Floor
5 Temple Square
Temple Street
Liverpool
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 - 6
Independent auditor's report 7 - 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 14 - 24

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 OCTOBER 2023

The trustees present their annual report and financial statements for the year ended 31 October 2023.

The financial statements have been prepared in accordance with the accounting policies set out in 1 to the financial statements and comply with the charity's Articles of Association, 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.

Public benefit

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

Strategic report

Achievements and performance

Kingston Smith Association Management (KSAM) continued to provide support as the BTS secretariat during 2021/22, but due to restructuring and rebranding changed their name to Moore Insight.

On November the 2nd the Trustees met with the Secretariat and Richard Jones, Director Moore Insight, to discuss the contract and review the services provided. This has become an ongoing annual review meeting after the new contract was signed in 2021. Events, membership, accounts, and media engagement were examined in turn and a small increase in hours agreed.

The Society had an active year in 2022/23, consolidating activities in line with the strategic plan, originally published in 2015 and reviewed in June 2017. Key priorities are to:

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

The Society in 2023 had 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 and in 2022 we welcomed the British Association of Renal Transplant Anaesthetists (BARTA) as a further affiliate. To consolidate the affiliates and ensure that Council meetings remain manageable, agreement was reached within the executive to maintain the current Council representation and for new affiliates to be assigned representation according to overlapping interest areas. BARTA will therefore be represented on council by the Renal Transplant Surgery Councillor.

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.

In 2023 a Memorandum of Understanding was signed between BTS and the European Society of Organ Transplantation to work together in delivering the ESOT Congress in 2025 which will be hosted in London at the Excel. There is no financial liability as part of this agreement.

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 years in dissemination of regular updates in relation to SARS-CoV-2. This is maintained and managed by Thumb Design who delivered the redesign. At that time, it was agreed that Moore Insight 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 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. An area of active development is a Social Media policy to split formal and informal communications. In 2022 a Society Communications group was formed consisting of a Councillor, the General Secretary and Secretariat representative to oversee all Social Media activity. For now the focus remains on “X” and Aimen Amer, Councillor for Social media leads the groups ensuring the activity is online with BTS policy.

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. A new Chair was appointed in 2021 and a pledge was made to continue producing guidelines to NICE accredited standards, which entails a commitment to commercial literature searches.

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.

Annual General Meeting

The Annual General Meeting (AGM) of the Society took place in person in Edinburgh on the 3[rd] of March 2023. The results of the 2023 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). 183 of eligible members voted, representing a turnout of 34%.

Four council positions were included in the election, and six sub-committee positions. The Vice-president election was won by Richard Baker and he became a Trustee of the Society at the AGM.

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

The next AGM will be held on Wednesday 6th March 2024.

Councillors appointed:

Education Committee Election

Clinical Trials Committee Members

Ethics Committee

Annual Congress

The 26[th] Annual Congress of the Society was held jointly with NHSBT at the Edinburgh International Congress Centre Feb 28[th] to 3[rd] March. The statistics are as follows:

The Roy Calne Award is made to the best clinical paper published in the academic literature. There were 5 submissions and the award was shared between Angus Hann “Outcomes of normothermic machine perfusion of liver grafts in repeat liver transplantation (NAPLES initiative) ”and Emily Thompson ““MicroRNA antagonist therapy during normothermic machine perfusion of donor kidneys”.

The Medawar Medal for the best clinical abstract presented was awarded to Richard Dumbill from Oxford for his paper entitled ““Prolonged duration normothermic perfusion of the kidney prior to transplantation – preliminary data from a phase 1 clinical trial” and the Scientific paper to Roy Zhang from Cambridge for “Assessment of ‘molecular organ age’ in retrieval kidney biopsies”.

The next Congress will be held in Harrogate between March the 6[th] and 8th 2024.

BTS Andrew Paris Memorial Fellowship

In 2021, the British Transplantation Society was approached by Susan Paris, widow of the late Andrew Paris, who had been instrumental in setting up and running the St John Ambulance Airwing. This service, provided by the well known charity, had been established in 1972 to provide a volunteer air service for the rapid transport of organs, drugs, blood supplies and patients when other means were not available.

Transplant healthcare professionals, and ultimately patients, benefit from the opportunity to travel and learn from best practice, establish new techniques and pass on lessons learned to their colleagues. This practice has been established and ingrained within the Society by the original St John Airwing Travelling Bursary. We will offer a single travelling fellowship up to a maximum value of £7.5k per annum to a member of the society who wishes to travel, for a short period of time, to another unit within the United Kingdom or abroad for a specific purpose. There will be an open competition administered by the BTS Education committee and General Secretary and overseen by the BTS Executive.

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

The Education committee, with support from the General Secretary, will distribute and promote the Fellowship, collate the application forms and provide a shortlist for the Award committee to score and award. The Award committee will be chaired by the Society President and include the BTS Executive and the chair of the Education committee.

In 2023 the award was made to Miss Miriam Cortes-Ceruiselo from Kings College to visit Italy and learn robotic hepatectomy for paediatric transplantation.

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 surplus for the year of £77,292 (2022: deficit £4,536) and total reserves now stand at £357,330 (2022: £280,038).

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 £120,000. 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.

Plans for future periods

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 2023

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.

Trustees

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:

N Torpey L Burnapp (Resigned 1 March 2023) C Wilson K Menon R Baker (Appointed 1 March 2023)

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 2023

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 (Audit) Limited be reappointed as auditor of the company will be put forward at the forthcoming Annual 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' report, including the strategic report, was approved by the Board of Trustees.

C Wilson Trustee

6 March 2024

THE BRITISH TRANSPLANTATION SOCIETY

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS 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 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows 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).

In our opinion, the financial statements:

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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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 contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

THE BRITISH TRANSPLANTATION SOCIETY

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE BRITISH TRANSPLANTATION SOCIETY

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 directors' report included within the trustees' report.

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

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

THE BRITISH TRANSPLANTATION SOCIETY

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE BRITISH TRANSPLANTATION SOCIETY

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

(i) The presentation of the charity's Statement of Financial Activities, (ii) revenue recognition including the deferral of income, and (iii) the overstatement of Congress and other costs. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and the Statement of Recommended Practice - 'Accounting and Reporting by Charities' issued by the joint SORP making body .

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty. These included Data Protection Regulations.

THE BRITISH TRANSPLANTATION SOCIETY

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF THE BRITISH TRANSPLANTATION SOCIETY

Audit response to risks identified

As a result of performing the above, we identified the presentation of the charity's Statement of Financial Activities, revenue recognition and overstatement of Congress and other costs as the key audit matters related to the potential risk of fraud. The key audit matters section of our report explains the matters in more detail and also describes the specific procedures we performed in response to those key audit matters.

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

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

Philip Griffiths (Senior Statutory Auditor) for and on behalf of Mitchell Charlesworth (Audit) Limited 6 March 2024

Accountants Statutory Auditor 3rd Floor 5 Temple Square Temple Street Liverpool L2 5RH

THE BRITISH TRANSPLANTATION SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
5,008
-
Charitable activities
3
508,289
-
Investments
4
1,151
-
Total income
514,448
-
Expenditure on:
Charitable activities
5
432,779
4,377
Net income/(expenditure) for
the year/
Net movement in funds
81,669
(4,377)
Fund balances at 1 November
2022
220,601
59,437
Fund balances at 31 October
2023
302,270
55,060		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
5,008
21
20,000
508,289
366,940
-
1,151
280
-
514,448
367,241
20,000
437,156
374,718
17,059
77,292
(7,477)
2,941
280,038
228,078
56,496
357,330
220,601
59,437		 Total
2022
£
20,021
366,940
280
387,241
391,777
(4,536)
284,574
280,038

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 2023

2023 2022
Notes £ £
£		 £
Current assets
Stocks 14 - 1,264
Debtors 15 186,385 146,710
Cash at bank and in hand 311,289 255,941
497,674 403,915
Creditors: amounts falling due within one
year 16 (140,344) (123,877)
Net current assets 357,330 280,038
Income funds
Restricted funds 18 55,060 59,437
Unrestricted funds 302,270 220,601
357,330 280,038

The financial statements were approved by the Trustees on 6 March 2024

N Torpey Trustee

Company registration number 4691176

THE BRITISH TRANSPLANTATION SOCIETY

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 OCTOBER 2023

Notes
Cash flows from operating activities
Cash generated from/(absorbed by) operations
22
Investing activities
Investment income received
Net cash generated from investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
1,151		 £
54,197
1,151
-
55,348
255,941
311,289		 2022
£
280		 £
(25,373)
280
-
(25,093)
281,034
255,941

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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 St James House, Vicar Lane, Sheffield, S1 2EX. 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 page 1 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, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. 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.

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.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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 the statement of financial activities.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

1 Accounting policies

(Continued)

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

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.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal 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 2023

1 Accounting policies

(Continued)

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 payments 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 charity Act 2011 and is considered to pass the test 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.

2 Donations and legacies

Unrestricted Unrestricted Restricted Total
funds funds funds
2023 2022 2022 2022
£ £ £ £
Donations and gifts 5,008 21 20,000 20,021

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

3
Charitable activities
Subscriptions &
memberships
Congress &
meetings
2023
2023
£
£
Corporate
subscriptions
82,500
-
Individual
memberships
62,585
-
Annual Congress
income
-
362,872
Other meetings
income
-
-
Other income
-
332
145,085
363,204
4
Investments
Interest receivable		 Total
2023
Subscriptions &
memberships
Congress &
meetings
Total
2022
2022
2022
£
£
£
£
82,500
58,750
-
58,750
62,585
59,630
-
59,630
362,872
-
222,196
222,196
-
-
13,575
13,575
332
-
12,789
12,789
508,289
118,380
248,560
366,940
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
1,151
280		 Total
2022
£
58,750
59,630
222,196
13,575
12,789
366,940

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

5 Charitable activities

Annual Congress
Other meetings and events
Other expenditure
Grant funding of activities
(see note 6)
Share of support costs (see
note 7)
Share of governance costs
(see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 Grants
payable
Congress &
other
meetings
2023
2023
£
£
-
330,912
-
1,365
-
4,021
-
336,298
6,345
-
-
82,908
-
11,605
6,345
430,811
3,333
429,446
3,012
1,365
6,345
430,811		 Total
2023
£
330,912
1,365
4,021
336,298
6,345
82,908
11,605
437,156
432,779
4,377
437,156		 Grants
payable
Congress &
other
meetings
2022
2022
£
£
-
254,923
-
12,818
-
26,568
-
294,309
4,914
-
-
78,488
-
14,066
4,914
386,863
1,500
373,218
3,414
13,645
4,914
386,863		 Total
2022
£
254,923
12,818
26,568
294,309
4,914
78,488
14,066
391,777
374,718
17,059
391,777

6 Grants payable

Grants payable Grants payable
2023 2022
£ £
Grants for
BTS Bursary 3,012 3,414
Medawar Medal 3,233 1,500
Nursing and AHP Awards 100 -
6,345 4,914

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

7
Support costs
Support costs
Governance
costs
2023 Support costs
Governance
costs
£
£
£
£
£
IT and software
8,736
-
8,736
13,548
-
Printing, postage and
stationery
-
-
-
142
-
Legal and professional
-
-
-
300
-
Secretariat
62,564
-
62,564
58,652
-
Bank charges
3,981
-
3,981
3,482
-
Irrecoverable VAT
5,941
-
5,941
943
-
Telephone
645
-
645
600
-
Miscellaneous expenses
1,041
-
1,041
821
-
Audit fees
-
6,750
6,750
-
6,309
Trustee expenses
-
619
619
-
893
Meeting and AGM
expenses
-
4,236
4,236
-
6,864
82,908
11,605
94,513
78,488
14,066
Analysed between
Charitable activities
82,908
11,605
94,513
78,488
14,066
8
Net movement in funds
2023
£
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
6,750		 2022
£
13,548
142
300
58,652
3,482
943
600
821
6,309
893
6,864
92,554
92,554
2022
£
6,309

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Expenses totalling £619 were reimbursed to three trustees during the year (2022 £1,388).

No goods were sold to the trustees during the year (2022 £108).

10 Employees

There were no employees during the year.

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

12 Intangible fixed assets
Website
£
Cost
At 1 November 2022 and 31 October 2023 28,250
Amortisation and impairment
At 1 November 2022 and 31 October 2023 28,250
Carrying amount
At 31 October 2023 -
At 31 October 2022 -
13 Tangible fixed assets
Equipment
£
Cost
At 1 November 2022 4,422
At 31 October 2023 4,422
Depreciation and impairment
At 1 November 2022 4,422
At 31 October 2023 4,422
Carrying amount
At 31 October 2023 -
At 31 October 2022 -
14 Stocks
2023 2022
£ £
Finished goods and goods for resale - 1,264

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
No bad debts were provided for during the year (2022 £Nil).		 2023
£
102,500
-
83,885
186,385		 2022
£
15,430
29,398
101,882
146,710

16 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
17
Trade creditors
Accruals
17
Deferred income
Other deferred income		 2023
£
7,530
112,043
10,769
10,002
140,344
2023
£
112,043		 2022
£
-
91,009
20,640
12,228
123,877
2022
£
91,009

Deferred income comprises membership deferrals and income relating to the 2024 Annual Congress and other meetings.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

18 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:

Movement in funds
Balance at
1 November
2021
Incoming
resources
Resources
expended
Balance at
1 November
2022
£
£
£
£
Clinical Trials Fund
19,521
-
(8,202)
11,319
Hoffenberg Memorial Lecture
Fund
23,274
-
-
23,274
BTS Bursary Scheme
13,701
-
(3,414)
10,287
Standards and Guidelines
Fund
-
20,000
(5,443)
14,557
56,496
20,000
(17,059)
59,437		 Resources
expended
Balance at
31 October 2023
£
£
-
11,319
-
23,274
(3,512)
6,775
(865)
13,692
(4,377)
55,060		 Resources
expended
Balance at
31 October 2023
£
£
-
11,319
-
23,274
(3,512)
6,775
(865)
13,692
(4,377)
55,060
55,060

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.

The charity received in 2022 two donations of £10,000, one from Warren's Wish, the other from Takeda for the development of guidelines in lung transplantation.

19 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
October 2023 are
represented by:
Current assets/(liabilities)
302,270
55,060
302,270
55,060		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
357,330
220,601
59,437
357,330
220,601
59,437		 Total
2022
£
280,038
280,038

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

20 Capital commitments

There were no capital commitments at 31st October 2023 (2022 - £Nil).

21 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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

22 Cash generated from operations
Cash generated from operations 2023 2022
£ £
Surplus/(deficit) for the year 77,292 (4,536)
Adjustments for:
Investment income recognised in statement of financial activities (1,151) (280)
Movements in working capital:
Decrease/(increase) in stocks 1,264 (1,264)
(Increase) in debtors (39,675) (60,735)
(Decrease) in creditors (4,567) (9)
Increase in deferred income 21,034 41,451
Cash generated from/(absorbed by) operations 54,197 (25,373)