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2025-10-31-accounts

Company registration number 4691176 (England and Wales) Charity registration number 1098584 (England and Wales)

THE BRITISH TRANSPLANTATION SOCIETY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

THE BRITISH TRANSPLANTATION SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees R Baker
R Ravanan
C J Callaghan
N P Torpey (Appointed 12 March 2025)
Secretary C J Callaghan
Country of incorporation United Kingdom 4691176
(England and Wales)
Charity registration England and Wales 1098584
Registered office St James House
Vicar Lane
Sheffield
S1 2EX
Auditor Mitchell Charlesworth (Audit) Limited
Suites C,D,E, & F
14th Floor The Plaza
100 Old Hall Street
Liverpool
L3 9QJ
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
Statement of cash flows 13
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 2025

The trustees present their annual report and financial statements for the year ended 31 October 2025.

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 UK organ transplantation through six strategic objectives:

By being the voice of transplantation for all solid organ transplant communities 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

Moore Engage continued to provide support to the Society as the BTS Secretariat during 2024/25. On 12 November 2025 the Trustees met with the Secretariat and Hilary Laing, Managing Director Moore Engage, to discuss the contract and review the services provided. This is an ongoing annual review meeting after the new five-year contract was signed in 2024. The review included events, membership, accounts, and media engagement were examined in turn and, where relevant, adjustments to hours were agreed.

The Society had an active year in 2024/25, consolidating activities in line with the strategic plan, originally published in 2015 and reviewed in June 2017 and November 2025.

The Society in 2025 had eight affiliated organisations: The UK Association of Lung Transplant Physicians, British Association for the Study of the Liver & the British Liver Transplant Group, The Herrick Society, Solid Organ Transplant Pharmacists Association, British Urology Transplant Society, British Association of Renal Transplant Anaesthetists, British Society of Histocompatibility and Immunogenetics, and the British Transplant Physician Trainees. The Chapter of Surgeons and the Chapter of Nurses & Allied Health Care Professionals sit fully within the structure of the BTS.

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

The Society continues to welcome applications from other potential affiliate organisations, 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: 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. Furthermore, the BTS has responded to a Coroner’s request via a Regulation 28 Prevent Future Deaths report. During the past four years, the BTS has also been invited to co-host an increasing number of joint sessions at other professional society meetings and Congresses, for example the Indian Society of Organ Transplantation (ISOT).

The BTS maintains an active public-facing website at bts.org.uk. The website provides updates on events of interest, a link to the Executive newsletters and links to minutes of relevant meetings. Moore Engage facilitates operational control of the website with more complex re-designs undertaken by Thumb Design.

The BTS has a Councillor for Social Media, who leads the Society’s presence on ‘X’ and is exploring other platforms such as LinkedIn and BlueSky. An Equality, Diversity and Inclusivity (EDI) Councillor was co-opted in 2024. A Sustainability Councillor was co-opted in 2024, and they will work with NHS Blood and Transplant on the Environmental Sustainability in Transplantation (ESiT) project. All three positions have been converted into long-term Council posts at the Annual General Meeting in March 2025.

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 2024 (Stephen O’Neill), confirming our pledge to continue producing guidelines to NICE-accredited standards, which entails a commitment to commercial literature searches.

Annual General Meeting (AGM)

The AGM of the Society took place in person in Brighton on 12 March 2025. The results of the 2024/25 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). 237 of eligible members voted, representing a turnout of 30%.

Eight council positions were included in the election, and two committee positions. The Vice-President election was won by Nicholas Torpey, and he became a Trustee of the Society.

Councillors appointed:

Clinical Trials and Research Committee election:

Education Committee election:

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

The next AGM will be held on Wednesday 4[th] March 2026 in Llandudno.

Annual Congress

The Annual Congress of the Society was held at the Brighton Convention Centre, 12-14 March 2025. The 2025 congress was held jointly with NHSBT. The statistics are as follows:

The Roy Calne Award is made to the best clinical paper published in the academic literature. The prize was awarded to Serena MacMillan for ‘Enzymatic blood group conversion of human kidneys during ex vivo normothermic machine perfusion’.

The Medawar Medal for the best clinical abstract presented was awarded to Weiyi Tan for her paper entitled “Willing to donate? A quantitative and thematic analysis of public attitudes to deceased organ donation in different circumstances” and the scientific paper to Sumoyee Basu for “Getting a sense of sensitisation: IFN-gamma and IL17-A antigen-specific T cell responses distinguish between sensitisation following renal transplantation compared to pregnancy”.

The Calne-Williams Medal for the best presentation in the field of liver transplantation was won by Sahil Gupta for ‘HTK is associated with higher post-reperfusion syndrome in deceased donor liver transplantation: time for a global re-think?’.

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 next Congress will be held in Llandudno between 4-6 March 2026.

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 (SJA). 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. In 2025, the SJA transferred £142,966 to the BTS towards SJA travel bursaries for BTS members.

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 now offer up to four travelling fellowships up to a maximum value of £2.5k per annum to members of the society who wish to travel, for a short period of time, to another unit within the United Kingdom or abroad for a specific purpose. There is an open competition administered by the BTS Education Committee and General Secretary and overseen by the BTS Executive.

In 2025 awards were made to Georgia Wilding, Natalie Clark, Serena MacMillan, and Mohamed Elzawahry.

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 £168,416 (2024: £78,048) and total reserves now stand at £603,794 (2024: £435,378). The majority of the increase in reserves in this year are as a result of the SJA fellowship transfer of circa £143k.

THE BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

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 £220,000. 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. A further strategic ‘mini-review’ will be undertaken by the Trustees in January 2026 and discussed with Council.

It is recognised that the website is becoming outdated in design and layout, and we hope to undertake a re-design process in the coming years. The EDI Councillor will be involved in a strategic review of EDI practices at the Society to ensure that they meet the highest standards.

A Conflict of Interests policy has been added to the BTS website.

The bursary scheme will be 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.

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 BRITISH TRANSPLANTATION SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

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:

K Menon (Resigned 12 March 2025) R Baker R Ravanan C J Callaghan N P Torpey (Appointed 12 March 2025)

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.

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).

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.

THE BRITISH TRANSPLANTATION SOCIETY

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

FOR THE YEAR ENDED 31 OCTOBER 2025

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 J Callaghan British Transplantation Society General Secretary

Trustee

4 March 2026

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 2025 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, Statutory Auditor Accountants Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ 4 March 2026

THE BRITISH TRANSPLANTATION SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
75
142,966
Charitable activities
3
622,574
-
Investments
4
8,208
-
Total income
630,857
142,966
Expenditure on:
Charitable activities
5
600,162
5,245
Total expenditure
600,162
5,245
Net income and movement in
funds
30,695
137,721
Reconciliation of funds:
Fund balances at 1 November
2024
383,073
52,305
Fund balances at 31 October 2025
413,768
190,026		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
143,041
9
-
622,574
459,560
-
8,208
1,661
-
773,823
461,230
-
605,407
380,427
2,755
605,407
380,427
2,755
168,416
80,803
(2,755)
435,378
302,270
55,060
603,794
383,073
52,305		 Total
2024
£
9
459,560
1,661
461,230
383,182
383,182
78,048
357,330
435,378

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE BRITISH TRANSPLANTATION SOCIETY

BALANCE SHEET

AS AT 31 OCTOBER 2025

2025
Notes
£
Current assets
Debtors
14
229,458
Cash at bank and in hand
659,179
888,637
Creditors: amounts falling due within one year
15
(284,843)
Net current assets
The funds of the charity
Restricted income funds
17
Unrestricted funds
18		 2024
£
£
343,604
499,994
843,598
(408,220)
603,794
190,026
413,768
603,794		 £
435,378
52,305
383,073
435,378

The financial statements were approved by the trustees on 4 March 2026

C J Callaghan

Trustee

THE BRITISH TRANSPLANTATION SOCIETY

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 OCTOBER 2025

Notes
Cash flows from operating activities
Cash generated from operations
22
Investing activities
Investment income received
Net cash generated from investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
8,208		 £
150,977
8,208
-
159,185
499,994
659,179		 2024
£
1,661		 £
187,044
1,661
-
188,705
311,289
499,994

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

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 or grantors 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 2025

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 2025

1 Accounting policies

(Continued)

1.8 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.

1.9 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.

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.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

1 Accounting policies

(Continued)

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.

1.10 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 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
75
142,966
Income from charitable activities
Subscriptions & memberships
Corporate subscriptions
Individual memberships
Congress & meetings
Annual congress income
Other meeting income		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
143,041
9
-
9
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
101,340
99,990
67,553
62,295
400,009
281,325
53,672
15,950
622,574
459,560		 Total
2024
£
9
459,560

3 Income from charitable activities

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

4 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 8,208 1,661

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
2025
2025
£
£
-
415,222
-
58,998
-
481
-
474,701
10,000
-
-
102,373
-
18,333
10,000
595,407
4,755
595,407
5,245
-
10,000
595,407		 Total
2025
£
415,222
58,998
481
474,701
10,000
102,373
18,333
605,407
600,162
5,245
605,407		 Grants
payable
Congress &
other
meetings
2024
2024
£
£
-
259,013
-
13,973
-
220
-
273,206
4,355
-
-
89,171
-
16,450
4,355
378,827
1,600
378,827
2,755
-
4,355
378,827		 Total
2024
£
259,013
13,973
220
273,206
4,355
89,171
16,450
383,182
380,427
2,755
383,182

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

6 Grants payable

Grants payable Grants payable
2025 2024
£ £
Grants for
BTS Bursaries 8,000 2,755
Medawar Medal 1,000 1,500
Nursing and AHP Awards - 100
Roy Calne Award 500 -
Calne-Williams Award 500 -
10,000 4,355
-
7 Support costs allocated to activities
2025 2024
£ £
IT and Software 8,036 8,187
Legal and professional 205 -
Secretariat 75,330 65,866
Bank charges 5,380 4,348
Bad and doubtful debts 1,693 -
Irrecoverable VAT 6,458 5,584
Telephone 677 672
Miscellaneous expenses 4,594 4,515
Governance costs 18,333 16,449
120,706 105,621
Analysed between:
Charitable activities 120,706 105,621
8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 8,475 8,716

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

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 £2,891 were reimbursed to three trustees during the year (2024 £2,607 were reimbursed to four trustees).

No goods were sold to the trustees during the year (2024 £Nil).

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.

12 Intangible fixed assets

Intangible fixed assets
Cost
At 1 November 2024 and 31 October 2025
Amortisation and impairment
At 1 November 2024 and 31 October 2025
Carrying amount
At 31 October 2025
At 31 October 2024		 Website
£
28,250
28,250
-
-

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

13 Tangible fixed assets

13
Tangible fixed assets
At 1 November 2024
Disposals
At 31 October 2025
Depreciation and impairment
At 1 November 2024
Eliminated in respect of disposals
At 31 October 2025
Carrying amount
At 31 October 2025
At 31 October 2024
14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
There was an impairment of debtors during the year amounting to £1,693 (2024 £Nil).		 Equipment
£
4,422
(4,422)
-
4,422
(4,422)
-
-
-
2025
2024
£
£
145,362
243,454
899
-
83,197
100,150
229,458
343,604
-
4,422
(4,422)
-
-
-
2024
£
243,454
-
100,150
343,604

15 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
16
Trade creditors
Accruals		 2025
£
14,040
246,457
6,776
17,570
284,843		 2024
£
29,535
331,403
38,855
8,427
408,220

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

16 Deferred income

2025 2024
£ £
Other deferred income 246,457 331,403

Deferred income comprises membership deferrals and income relating to the 2025 Annual Congress and other meetings.

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 November
2024
Incoming
resources
Resources
expended
At 31
£
£
£
Clinical Trials Fund
11,319
-
-
Hoffenberg Memorial Lecture Fund
23,274
-
-
BTS Bursary Scheme
4,620
-
(4,620)
Standards and Guidelines Fund
13,092
-
(200)
Andrew Paris Memorial Fellowship
-
142,966
(425)
52,305
142,966
(5,245)
Previous year:
At 1 November
2023
Incoming
resources
Resources
expended
At 31
£
£
£
Clinical Trials Fund
11,319
-
-
Hoffenberg Memorial Lecture Fund
23,274
-
-
BTS Bursary Scheme
6,775
-
(2,155)
Standards and Guidelines Fund
13,692
-
(600)
55,060
-
(2,755)		 October
2025
£
11,319
23,274
-
12,892
142,541
190,026
October
2024
£
11,319
23,274
4,620
13,092
52,305

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

17 Restricted funds

(Continued)

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 purpose of the Andrew Paris Memorial Fellowships is to enable the recipient to visit other transplant centres in the United Kingdom or abroad to widen their knowledge and experience.

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 November
2024
Incoming
resources
Resources
expended
At 31
£
£
£
BTS Bursary Fund
-
20,000
(3,380)
General funds
383,073
610,857
(596,782)
383,073
630,857
(600,162)
Previous year:
At 1 November
2023
Incoming
resources
Resources
expended
At 31
£
£
£
General funds
302,270
461,230
(380,427)		 October
2025
£
16,620
397,148
413,768
October
2024
£
383,073

The BTS Bursary Fund has been set aside by the trustees to provide bursaries for individuals to attend the BTS Congress.

THE BRITISH TRANSPLANTATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 October 2025:
Current assets/(liabilities)
413,768
190,026
413,768
190,026
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 October 2024:
Current assets/(liabilities)
383,073
52,305
383,073
52,305		 Total
2025
£
603,794
603,794
Total
2024
£
435,378
435,378

20 Capital commitments

Amounts contracted for but not provided in the financial statements:

There were no capital commitments at 31st October 2025 (2024 - £Nil).

21 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

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

22
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Movements in working capital:
Decrease/(increase) in debtors
(Decrease)/increase in creditors
(Decrease)/increase in deferred income
Cash generated from operations		 2025
2024
£
£
168,416
78,048
(8,208)
(1,661)
114,146
(157,219)
(38,431)
48,516
(84,946)
219,360
150,977
187,044		 2025
2024
£
£
168,416
78,048
(8,208)
(1,661)
114,146
(157,219)
(38,431)
48,516
(84,946)
219,360
150,977
187,044
187,044