ReglsteTed number 1100372 European Venous Foundatlon Trustees. Report and Accounts 31 December 2024
European Venou8 Foundatlon Roport and accounts Contents Page Legal and admlnlstrallve infomation Trustees. Annual Report statemènt of Financial Activlliès Bolance sheel Notes lorming part of the financial slatements 2to3 7t010
Europoan Venous Foundatlon Trustee's Annual Report for the yfyar onded 31 December 2024 The Trusteès. present thelr report anfj acctsunls for the year ended 31 De¢embtsr 2024. The Irustees hav* adopted the provlslon of ihe Statement of Recommonded Piaclice ISORPI Accounting and Reporting by Charities" IFRS 1021 in preparing the annual roport and financial statemant of the ¢harity- Thè financAal stsl8ments have been propared in accordance with the Bccounling policie$ set out in notes lo the accounts and comply with the challws governing document. the Charities A¢1 2011 and Accounting and Reporbng by Charities.. Stalemenl of Recommended Praclico applicable lo charities preparing their accounts in accordance lo the Financial Rerportiftg Standards appllcablg in the UK and Republic ol Ireland published on 16 July 20141 as amended by Update Bulletin 1 published on 2 FebNary 2016). R•forenc¢ and admlnl¥tratlon dotalls Charlty name- European Venous Foundation Registration number- 1100372 Principal addrèss- 37 Rosed8ne Avenue. Gr¢enford. Middlesex, U86 9SD Trustees Thè tru8t¥es who man8ge the ¢harity are named on page 1. Structure. governance and management European Venous Foundation is conslltuted by Trust Deed dated 19 July 2002 as amand 8 Octobor 2003. The Trust obtained ch8ritabl8 status on 28 October 2003 INO. 11003721. The managem¢nl committee is responsible far the day to day running of the charfty. The trustees shall initially hold office for Ihe first flve yeors and may subsequgnlty b8 reappfgnted. The body of Iruslees shall not exceed ten persons and there shall ba at least five persons. Future tnJ$tees shall be nominated or appointed. In respect of a tnjstee being appointed to replace a truslee leaving office. th8 retiring trustee shall not be ontsded to vote in respect of the appointment of his successor. The trLl8tees actlvely raview the major rk which Ihe Chanty f8¢es on a regular b8sls and believe that maintalnin9 raserves at the deslredlovel. combined wlth an annual review of the controls ov8r the key financial Systeffls, will provide sufficient resource$ in thè event of adverse condilions. The iTusloes have also ¥xaminod other operational and busin9ss risks faced by the Charity and Gonfimi that they have established systems to mSUgale Ihe significant risks. Obj¢ctive$ and a¢tlvllie8 The charily was lomed lor thè prornoUon of research into the causes. 8ffecls, troalment and management of venous disèase and to disseminate the useful results thereof. The d)arily continue lo support the annual scignlffic meetings of the EuTopoan Venous Forum, the annual Hands-on Workshop on Venous Disea50, EVF HOW Plus Courses and Updates of Internaliongl Consensus ststements on both Chronic Venous Disease and Venous Thromboembt)lism. It continuo to suppori a number of Travelling Fellowships, EVF Prize and EVF Research Gr8nts. The Trustees have promoted the eharity through their contacts vAih the intention of using these funds in the fijlure for the furtherance of its objectives. n the pursuit ol the ¢h8rttable oblecliv8s the trustees have powers to pèrmit Inv8slmenls in any dèaring bank, trust ¢orporation or stock broking company which is a mernb8r of th8 Stock Exchang6,
Europèan Venous Foundatlon Trustoe's Annual Report for tho year ended 31 D•cember 2024 Achl•vements and porfornian¢e During the year the charity has conlinued lo support the annuol l•tIn¢ meetings ol the Europgan Venous FoNrn. Travelling Fèllowships, Research Grants and the annual HandsThon Workshop on Venous Disease. The Trustees have prorlloted the charrty through their contacts wlth the intenuon ol using these funds in the luture for the luitheranc8 of Its objectlve8. Flnanclal Revlow It is the policy of the charity lo maintain unresliicled funds at a asOnable lev81 to provide gufficient luntjs to cover managemenl and administration support costs to continuè the 8ducatlonal activities. At the bglance she61 date the unrestricted fund$ of £785,026 are healthy and al a level above that would ba expected in the future due to the charitys modest cash flow position. The free reserve is Ime same amount. This rowi was approve(I by the board of trustees on 2Slh June 2025 A Nlcotsidos Trusteè
European Venous Foundatlon Legal & Admlnistrative Informatlon Twstetr8 Professor Andreas Nicos Nicolaldes - Chalr Dr Michael Perrin (Deceased on 7th March 20231 Professor Arrnando Mansilha Ms Anne Taft- Sacretary Df Mafianne Vandendriessche-Hobbs- Treasurer Dr Arkadiusz Jawien Dr Dominik Helm (Appolnted on 26th of June 20241 Ind•p•ndont Examlngr Andrew Georgiades Nicholas Peters & Co Lirnitsd 2nd Floor 10-12 Boudgt Clos& W1W 78R 8ankèrs Bardays Bank Soli¢ltors Nich(Aas & Co Solicitors Ground Floor 1&12 8ourlel Closé W1W 7BR Charlty Offlcgs 37 Rosedgne Avenue Grgenford iddles4x U86 9SD Charlty r•gl$t•red number 1 ?00372
European Venous Foundatlon Independent Examlnerfs Roport to the Trustees of European Vgnous Foundatlon I report on the accounts ol the Trust for the year ended 31 Decèmb8r 2024, which are sei Out on pages 5 to 10. R85P8Ctlve ro$ponslbilltles of truste¢s and èx*mlner The charltys Iru$tees are responsible for the preparation of the accounts. The ehariws trustees ons?der that an audit is not requlred for this year under section 144121 ol the Charities Act 2011 Ilhe 2011 Acll and that an independent exarnination is needed. It is my responsibility lo.. examine the accounts under Section 145 of the 2011 Act. lo follow the procedures laid down in the general Direcllons given by the Charity Commission (under section 14515llbl of the 2011 Act, and - to state wh8ther partlcular rnatters have Gome to my attention. Basls of Indep#ndent examlner's r•port My èxamination was ¢arried c>ul in accord8nc8 VJtth general Directions given by the Charity Commission. An examination indudes a review of the accountin9 records kept by the charity 8nd a Gomparison of the aceounls presenlad with IhDse records. 11 also Includos consideration of any unusu81 518ms or disclosures in the accounts, and seeking explanations from the trU8te8s concerning 8ny such mattèrs. Tho procgdures undertaken do not provide all th8 8videnc¢ that would bè required in an audit, and ¢onsequantly AO oplnion is given as lo whgthei the accounts piesent a 'true and fairf view and thè report is limlted lo those matters set oul in the slalement below. Ind8pendent oxamingfs statsffltnt In CDnneEtion with my examlnation, no matter has come lo my attenknon.. 1. which gives me r&ason8bl& Gause to beli&ve that in, any maierial respect, the raquirements.. lo keep accountsng records in aGcordance with section 130 of the 2011 Act., and lo prepare accounts which ac¢ord with the 8¢counting records and comply with tho accounting rèquirements ofthe 2011 Act have not been mel., or 2. to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mr Andrew Georgiades FCCA Nicholas Peter$ & Co Llmlted Independent Examlner 2nd Flotrr 10-12 Bourlet Closo London W1W 78R Datè.. 25th June 2025
Europoan Venous Foundation Statement of Flnanclal A¢tivltie$ for the year ended 31 December 2024 Unrestrfct8d Funds 2024 Unr•strf¢tod Fund6 2023 Nots$ Income Donaiion6 Interest receivablè Total Income 34.648 760 35,408 44,793 296 45,089 Exp•ndltur* on.. Other expendilsJr8 Expenditure on charitable activities Totsl 10,947 50.047 60,994 7,381 14,184 21.565 io Net Income 125,5861 23,524 Transfers bee¢n funds Net movgm•nts In funds 125.5861 23,524 Total funds brought foN4ard 13 810.612 787,088 Total funds rrI•d forward 785,026 810,612 The nel movement in funds refgrred to above Is thè net inc1ng resources as delined In the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commission for England & Wales and 15 reconciled lo the total funds as shown in th6 Balanco Sh8et on pag8 6 8$ requlred by the said statement. Tho Statomonl of flnanclal a¢tlvltles includes all galns and lossos In thè y•ar. All Incoming rgsources and r•$ourc¢s oxpgnded d•rivè from contlnulng actlvities.
European Venous FoundatSon Balance She8t as at 31 Docember 2024 Notss 2024 2023 Currgnt a$$ets Debtors Cash al bank and in hand 11 193,174 603.472 796,646 149.107 663,Oe5 812,172 Crgdltors,. arnounts falllng due within one year 11.620 1.560 Not currènt as$*tg 785.026 810.612 N•t assets 785,026 810,612 Funds: Unr8$trictgd funds 13 785.026 810.612 Total fundg 785,026 810.612 Thè flnancial stal8ments were approvgd ond authotised for is8Ug by the Board on 25th June 2025 Signed on behalf of the board of trustees. A Nicolaid•8 Tru$t•o
European Venous Foundation Notes to tha Accounts for the year ended 31 De¢omb8r 2024 1.1 88sls of accounting The Gharity constitutes 8 publlc benefit enllty as defined by FRS 102. The f1nancial slaternents have been prepared in accordance wih Accounting and Reporting by Charities.. Stslement ol Recommenoed Pracbc8 applicable to charities preparing thèir accounts in accordance with the Financlal Reporting Stsndard appli¢able In the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 las updated through Update Bulletin 1 PL¢blished on 2 February 20161. The address of the registered office is glven in the charity informafjon on page 101 these financial stsl&ments. The nature of the charitrfs (>p8r8lions ond principal actiwitias ar8 as s8t out in the Trugtees. annual rgport on page 2 of these financial ststements. Tl)e financlal ststemtrnts are prepared on a going concern basis under the historical cost convention, modified to includo certain itgms at fair value. The financial statements are pre8$nted in sterting which is the fun¢tional currency ol the charity and are not rounded. The 5ignific8nt accoLtnting policles applied in the preparation of these finan¢ial statements are set out below. These policies have been consislenuy applled to all years pres8nted unless Otherwise stated. The charty adopted SORP IFRS 1021 in the currgnl year and an explanation of how Iransitlon to SORP IFRS 1021 has affected the r8POrted financial posillon and perfomiance is givèn in note 13. 1.2 Recognltion of Incomlng rèsources These are induded in the Statement of Finanaal Aclivilles ISOFAI when-. the charity becomes enlilled to the resources., the Iruslees are virtually certain thoy will receive the resources.. and the mongtary value ¢8n be measured with sufficient reliabllity. For donatitsns to be recognlsèd thg charity will have bts notified of the amounts and Ihe settlement date in writing. If there are conditions att8ched lo ihe donation Bnd this requires a level of performance before entiU8ment can be ubtainfyd th8n income is dgferred until those conditions are lully mel or the fulfilmenl of those condititsns B wlthin the control of the charity and 11 is probable Ihat they will bg fulfilled. Donated facilities and donalgd professional serwces are regniSed in income at thèir fair value when their economic benefil is probable, it can be measured reliably 8nd the charity has Control over the item. Falr valu8 is determined on the basis ol the value of the gift to the charity. For xample the amount the charity would be willing lo pay in the open market for such facilities and services. A corresponding amoufil Is iecognised lrt exp¢nditure. 1.3 Donatlon$ and Mèmbership Donations and memberships are only incltjded in the SOFA vthen the chaflty has unctsnditionAI entitlement to the resources. 1.4 Uabiiity rn¢ognttlon All 8xpendilure is accounted lor on an accruals basis and has been dassified under heading8 that aggT•gale all costs related lo the category. Expenditure is recognised wher8 Ihere is a legal or constructive obllgalion lo make payments to third parties, il is probable Ihal the setuemenl will be required and the amount of the obligation can be measured reli8bly.
European Venous Foundatlon Notes to the Account$ for the year ended 31 Do¢embfrr 2024 1.5 faxa(ion As a registered charity. the organisation is exempt from income and corporation lax lo the eernI Ihal Its income ènd gains are applicable lo charitsble purposes only. Value Added Tax is not recoverable by th8 charity, and Is thorefDrè Includad in tha relevant Costs In Ihg SOFA. 1.6 Management and adminlstr4tion expendlture Support Costs are those that assist the wod( of the charity bul do not dlrectty represent charitable acdvf(ies and include office costs, governance costs, administrative payroll Costs. They ale incurred directly in support ol expenditure on the obj6cts of the charity and includè proj8cl management carried out at Headquarters. Where support costs cannot be directly attrlbuted lo particular headings thay have been allocated lo cost of faising funds and &xp8nditure on charitable activities on a ba51s consistent wllh use of the rBsour¢es. Premis&s ovtsrheads havg been allo¢aled on an insert dgtail basis and other overheads have been allocated on an in$8rt datail basis. Debtor& and ¢r8dltors re¢•lvable /payable wllhin on• year Debtors and creditors wrth no stsled Interest ral& and receivable or payable within one year are recorded at transaction pri¢e. Any losses arising from impaimenl are recognised in expèndilura. 1.8 Golng conc&rn Thè financial ststements have been prepared on a golng concèrn b8SiS 8$ the trustee$ believ$ that no material uncertalnties exisL The trustees have ¢onsider8d the 18wel of funds held and tho expected level of income and expendilufè for 12 months from authori$ing these financial Statements taking into consideration the impact of COVID-19. The budgèted income and expenditure is sufficient with the level ol reserves lor thè charity lo be able to contlnue as a going concern. Judggments and koy sources of •stlrnatlon un¢wtalnty No judgernenis lapart from those involving estimates) have been made in th8 prgcess of applyng the above accounting policies that have had the most 81gnificanl effect on amounts recognised in the financial $18lem8nls. No key assumptions conceming the future and other key Sources of estimation uncertalnty at the reporting d*p that have a significant risk of causing a material adjustment to the Carrying amount8 of ossets and liabilities within the n8Ki financlal year. Loan Included Sn othèr debtors Isee note f11 Foreign currencles Transactions in fof&ign currencles are recorded at the rate ruling 81 the dal& of the trans8Ction. Monetary assets and liabilities denomlnaled in foreign currencies are translated al the rate of exchange ruling usin9 the averago yeady rate. All differences are tsken lo the SOF
Europ6an Vonous Foundatlon Notes to the Accounts for the year endod 31 December 2024 Stru¢turn of funds The charity maintains a general unreslricled fund which represents funds av8iloble lo spend on activrtie5 that further any of the pUOSe8 of the charity. The designated funds are unreslrlcted funds ol the charity which the Iruslees have decided al their dis¢relion to sel aside lo use lor a specific purpose. The funds may be held in order to finance both Wofking Capital and capital invèstment. Restricted funds have bogn provided lo the charity for particular purposes, and il is the policy of the board of trustees lo ¢arefully the monitor the 8pplication of those funds in accordance wlth the restrictions placad upon them. On completion of any reslri¢ted project funds. 8ny funds not usfjd arg transferred to unreslTlCted fvnds for the use on the charitys generèl Dbjects. Any other proposed transfer tre88n funds would be conslder8d on the parti¢ular circumstances. Concèsslonary loan Concessionary loans Include those payable a thlrd party which are interest free or below market interest rates and are made to advance chari18ble purposes. Al loans are repayable on demand within one year, the loan is moasur&d at cost. less impairnient. Where the loan is repayBble more than one year. the loan is initially measured at fair value and subseouenuy measured at amortised cost using the effective interest rate method, less impaiment. 2023 Donations 2024 Corporate donadons 34,648 34,648 44,793 44.793 Tru$tg0'3 and key managgm¢nl personnel remun•ratlon and exp•nw4 The trustees neither re¢8ived nor waived any remun$ration during the year12023: £Nill. The trustees are the key management personnel. There are no other stsff costs. Independent oxamlnèr romunoratlon The independent ex8miners ramun8rats.on amounts to an independent examination fee of £1,680 12023. £1,560). No other servicos arg provided.
European Vonous Foundatlon Notes to th8 AGGounts for the year Onded 31 De¢embor 2024 Other •xpènditu 2024 2023 15 4,978 826 1,560 7,381 8ank charges Forelgn exchange gainAoss lfjsuranco Accountancy 28 8.572 667 1,680 10 Expendlturn on charltable actlvltlès 2024 2023 Gr8nts Donations Conference contributions 4,901 18,844 28,302 50,047 5.600 8,584 14,184 2023 11 D•btors 2024 Other debtors and prepaymeAI$ 193,174 149,107 12 Credltors: amounts falllng due wlthln on¢ yoar 2024 2023 Oiher creditors and accruals 11,620 11,620 1,560 1,560 13 Unre$trlcted fund$ 2024 2023 General Dèsignated 687.728 97,298 785,026 662.794 97,300 760.094 13 Transactions wlth tnJst•&8 Included in other dgblors is the amount (rf £148.440 whTrch is a loan mad8 to Europ$an Venous Forum Ltd, a Gompany thich some of tho trustees are the directors. 10