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← European Association For The Study Of Obesity

2023-12-31-accounts

Registered number: 05483950 Charity number: 1111288

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

TRUSTEE'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

CONTENTS

Page
Legal and administrative information 1 - 2
Trustee's Report 3 - 13
Independent Auditors' Report on the Financial Statements 14 - 17
Statement of Financial Activities 18
Balance Sheet 19
Statement of Cash Flows 20
Notes to the Financial Statements 21 - 34

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023

Current Executive Committee (Trustees)

President: President-Elect: Secretary: Treasurer: Regional Vice President Northern Region: Regional Vice President Middle Region: Regional Vice President Southern Region:

Jason Halford (UK) from May 2021 Volkan Yumuk (Turkey) from May 2021 Grace O’Malley (Ireland) Paolo Sbraccia (Italy) Tryggvi Helgason (Iceland) Lubomira Fabryova (Slovakia) Luca Busetto (Italy)

Ex Officio

Childhood Obesity Task Force Chair:

Obesity Management Task Force Chair: Prevention and Public Health Task Force Chairs: Scientific Advisory Board Chair: Executive Director/Company Secretary:

Jennifer Baker (Denmark) and Jens-Christian Holm (Denmark) Andreea Ciudin (Spain), Barbara McGowan (UK) Janas Harrington (Ireland) and Daniel Cauchi (Malta) Gema Frühbeck (Spain) and Gijs Goossens (Netherlands) Euan Woodward (UK)

Company registered number

05483950

Charity registered number

1111288

Registered office

10 Queen Street Place London EC4R 1AG

General Information

EASO C/OSPACES Causeway House, 13 The Causeway Teddington TW11 0JR United Kingdom enquiries@easo.org www.easo.org

Independent auditors

Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

LEGAL AND ADMINISTRATIVE INFORMATION (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Bankers

HSBC Bank plc (UK) 156-157 Tottenham Court Road London W17 7AY

Solicitors

Bates Wells & Braithwaite 10 Queen Street Place London EC4R 1AG

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees, who are also Directors of the Charity for the purposes of the Companies Act, submit their Annual Report and the audited financial statements for the year ended 31 December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005 in preparing the annual report and financial statements of the charity.

Objectives and activities

EASO Mission

To improve health outcomes across society, EASO empowers, advocates and educates to research, prevent, diagnose, treat and manage the chronic disease of obesity

EASO Vision

Identifying and solving the challenges of obesity through collaborative action with multidisciplinary stakeholders underpinned by a strong scientific understanding

EASO Overview

Established in 1986, EASO is a federation of professional membership associations from 36 European countries. EASO is Europe’s leading authority on obesity research, education and policy, representing a community of over 20,000 scientists, academics, health care practitioners, physicians, public health experts, early career researchers and students. EASO coordinates the scientific secretariats of the EU Parliament SIG in Obesity and Health Systems Resilience, and the EU Obesity Policy Engagement Network (OPEN); and is a member of the EU Health Coalition and the Biomedical Alliance in Europe.

EASO promotes action through collaboration in research, education and policy. The actions of EASO support the membership and wider community in the most effective and impactful way possible.

EASO Membership

Northern Region: Belgium; Denmark; Finland; Germany; Iceland; Ireland; Netherlands; Norway; Russia; Sweden; United Kingdom.

Middle Region: Austria; Croatia; Czech Republic; France; Georgia; Hungary; Lithuania; Poland; Romania; Slovakia; Slovenia; Switzerland.

Southern Region: Azerbaijan; Bosnia Herzegovina; Bulgaria; Greece; Israel; Italy; Malta; Montenegro; North Macedonia; Portugal; Serbia; Spain; Turkey.

EASO also has a network of over 150 Collaborating Centres for Obesity Management (COMs). These are specialist multi-disciplinary treatment centres, accredited by EASO to reach the highest standards of care, clinical education and research. The COMs network reaches over 400,000 patients annually.

EASO concentrates its activities in the areas of research, education and policy, and in 2023 continued to place a greater emphasis on policy impact, especially at the European level. In 2023 EASO also dedicated efforts to support the development of our COMs and Early Career networks.

Public Benefit Statement

The Trustees of EASO confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

2023 was a financially challenging year for EASO, due to the loss of a significant level of project based grant funding. The situation meant that EASO had to cancel or scale back a number of important policy and education initiatives, including our annual residential summer Masterclass, our COMs Summit, our COMs Exchange and Mentoring programme, and policy initiatives including the EASO Changemaker Programme, OPEN EU activities, and components of our policy evidence projects. Our annual congress, the European Congress on Onbesity, was also impacted, with lower sponsorship and registration income than anticipated.

There were however significant successes. We sourced new project funding to facilitate the organisation of our 2023 ECN Winter School, and were able to hold a specialist Masterclass in parallel, with the events taking place in Antalya in December 2023. We also sourced project funding to support the development of a ‘CPG Implementation’ project, helping us to build the capacity of our national members to assess, develop and implement Clinical Practice Guidelines nationally. We were also able to generate new policy evidence via our Cost of Inaction and Payer Survey studies, and continued to represent the European obesity community across a range of policy consultations and dossiers, and to influence relevant international institutions including the European Parliament and Commission, OECD and WHO. In addition, we secured a 3-year funding partnership with a major international Foundation to offer a programme of Excellence Prizes and New Investigator Awards, all of which are accompanied by significant research grants.

EASO was also part of six successful research consortia, gaining long-term EU research project funding with projects starting throughout 2023, and early 2024. EASO’s role in these projects will focus on policy mapping, policy recommendations, and scientific communications. EASO undertook the following projects in the three main categories of Education, Research and Policy.

Education

Education is one of EASO’s core objectives, and we build capacity through a range of projects and platforms. We are mapping education provision across Europe, delivering live and online training, promoting the development of better obesity education, and championing greater access to that training. The EASO education strategy includes:

European Congress on Obesity

The European Congress on Obesity is EASO’s annual conference. It is a platform for education and dissemination, and a networking hub for the entire European obesity community. The multidisciplinary programme covers key topics, the latest obesity science delivered by the best KOLs. The ECO is an interactive international congress, bringing together colleagues from every area of obesity research, prevention and management. Education is delivered in plenary and topic lectures, with practical teaching workshops, abstract presentation and industry session updates.

30th European Congress on Obesity: Dublin, Ireland

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

COMs Network

The EASO COMs network was established to recognise specialist treatment centres that reach the highest levels of patient care and clinical practice. Centres are accredited according to published criteria. EASO’s Research COMs also have the capacity to participate in clinical trials and clinical research. In 2023 we develop the COMs webinar series, and strengthened networking via a quarterly COMs Newsletter and regular informal discussion sessions.

We also supported a meeting of Spanish COMs organised by the EASO member association in Spain, SEEDO, in June 2023.

The network now comprises over 150 accredited centres, that together treat over 500,000 patients annually. Accredited centres are mostly university teaching hospitals with multidisciplinary teams. Centres from outside the EASO region are accredited via the International Affiliate Membership programme.

EASO COMs webinars are held online monthly, excluding over winter and summer breaks and during May, when many of the COMs community gather in person at the European Congress on Obesity. The COMs webinars offer regular opportunities for the COMs community to connect, network, build peer support, seek guidance, exchange knowledge, and engage with renowned obesity experts and other COMs members across Europe. In 2023, the following topics were covered:

In 2024, EASO will develop a COMs programme that includes:

Early Career Network

The EASO Early Career Network is a community for early career professionals to collaborate, network, learn and share. It supports training and career development. Education is provided through a residential winter school, ECO sessions and monthly webinars. Members are supported to attend teaching schools and the ECO through awards and travel grants.

The ECN is almost 1000 strong, with members coming from all EASO National Associations and beyond. It is coordinated by an elected Board that spans a variety of professional interests, national representation and expertise, from basic science, nutrition and medical practice, childhood obesity, and public health.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The following webinars were held in 2023:

The ECN hosted a residential Winter School in Antalya, Türkiye in December 2023. The ECN Winter School is a 3-day residential teaching course. The Programme for each School focuses on ‘Hot Topics in Obesity’, as determined by the ECN Board and specialist EASO Task Forces. Sessions address key issues in research, treatment, long-term management and public health, with additional advocacy training included. Teaching is interactive and delivered by recognised European KOLs, and includes both lectures and practical training. Poster sessions form an important part of the school, with each successful candidate presenting their work in special moderated discussion sessions, chaired by senior faculty. Upon completion of the course, participants will have received a thorough grounding in obesity and have learnt new skills to develop their research or clinical practice. The programme devotes significant time to ‘meet the expert’ discussions (thus encouraging mentoring) and practical teaching to aid career development. The EASO ECN offered 40 places for this prestigious residential course, via competitive application. There was no registration fee and EASO provided hotel accommodation and all meals for successful applicants.

In 2024, the ECN will develop a programme that includes:

Teaching Courses

In 2023 EASO hosted a residential Masterclass in Antalya, Türkiye in December 2023. The Masterclass ran in parallel to the ECN Winter School as a 3-day residential teaching course. We offered 40 places for this prestigious residential course, via competitive application. There was no registration fee and EASO provided hotel accommodation and all meals for successful applicants.

This multidisciplinary course comprised a mix of plenary overview lectures and clinical case study workshops, additional sessions for clinical management, childhood obesity, and public health/advocacy. Participants are experienced clinicians and practitioners who are active at the national level, and who seek additional knowledge and skills to help them become national leaders, educators and advocates.

In addition to our own teaching courses, Stakeholder Courses are organised with partner societies, as a platform for delivering obesity training to non-specialist professionals who work in related areas. In 2023 EASO has cohosted courses with the following partners: EFAD; EFIM; ESC; IFSO-EC; WONCA.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Education Impact

Our education impact has included:

Research

EASO facilitates and supports research. It participates in research projects and consortia; creates platforms for research dissemination; activates research networking; and convenes its Scientific Advisory Board to address research questions and develop recommendations. Our research work comprises

EASO is currently participating in the following projects: Better4U; BIO-STREAMS; Interact Europe; OBCP; PREVENT, SOPHIA; STAGE; SWEET; and TIMESPAN. PROTEIN finished in 2023. These projects are all multi-partner, multi-country research collaborations, funded via various EU research funding protocols, including H2020, Horizon Europe, and IMI. In 2023, our research impact has included:

Policy

Despite 2023 funding challenges, we continue to drive policy change at the European and national levels, our focus being to ensure that Obesity must be implemented as a chronic relapsing disease in NCD frameworks for national plans. Our expert policy team in Brussels continues to coordinate the scientific secretariat of the MEP Interest Group on Obesity and health systems resilience.

The EASO policy strategy focusses on fostering and embedding a narrative on obesity that reflects the scientific evidence, to inform policy and practice at EU and national levels. We build membership capacity, gather policy evidence, engage with an inform policymakers, and ensure that obesity is addressed across all relevant policy areas. In 2023 we undertook projects to improve policy evidence:

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

On 26 October EASO, in collaboration with the MEP Interest Group on Obesity and Health Systems Resilience convened a technical working session to discuss overcoming policy barriers to improve care for people with obesity and EU added value. The technical working session built on the work of over 100 stakeholders who previously participated in the MEP Interest Group Study Trip in 2021 resulting in A Joint Declaration Towards Applying an NCD Framework for Obesity National Plans Across Europe - Member of the European parliament Interest Group (mepobesityinterest.eu) as well as the EASO study on the Cost of inaction of not implementing obesity under the NCD framework whose initial results were discussed at the last MEP Interest Group meeting at the European Parliament on 12 April this year.

The EASO Policy Changemaker programme is aimed at building capacity of EASO Member Associations at national level with a view to not only providing basic training, but creating a sense of proactive community for knowledge sharing and joint policy advocacy. We coordinated policy update sessions and advocacy training at our 2023 European Congress on Obesity and at our 2023 Obesity Masterclass.

Additional relevant 2023 actions included:

Membership

EASO exists to serve its members – a membership to 36 European countries, via affiliated National Obesity Associations, representing over 5000 obesity professionals. EASO communicates with its membership via its website; e-newsletters (distribution >22,500); direct communications; and ECO meetings. EASO also prepares scientific statements/guidelines which are shared with and translated by members. EASO also provides resources to members, in the form of European/World Obesity Day materials and communication support. EASO members are active in the strategic development of the society, leading to the development of actions that meet membership needs and help to develop member knowledge and skills.

In 2023 we established an enhanced communication programme for members, with quarterly member webinars, and a ‘Presidents’ Strategic Discussion and Dinner’ at the ECO.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Finance Review

At the end of the year to 31 December 2023, the charity total funds stood at £298,901 (2022: £382,109) and £17,566 related to Unrestricted funds (2022: £155,180). The balance related to restricted funds at the year-end £281,335 (2022: £226,929).

Total income for the year was £1,028,915 (2022: £2,127,514), with the decrease being related to project activity which has resumed post lockdowns. Total expenditure has also decreased year on year to £1,112,123 (2022: £2,491,317).

EASO Reserve Policy

In order to secure the viability of the organisation beyond the immediate future, to provide reliable service and required funding over the longer term, EASO must be able to absorb financial setbacks. It is therefore necessary to set aside some of the current income as a reserve against future uncertainties.

In view of the financial needs of the organisation, the trustees have agreed to maintain a reserve policy to retain sufficient funds to cover the operating expenses of the organisation for one year. The reserve would cover: secretariat expenditure, supporting funds for agreed projects, agreed loan for ECO conference, and other liabilities such as executive travel expenses, legal expenses, and other miscellaneous expenses that are necessary for the operation of the charity.

The trustees will review the reserve policy at its 1st executive committee meeting each year to ensure that: 1) the policy is adequate for its need in the coming year; 2) reserve level is enough to cover one year operating expenditure; 3) take necessary steps if reserve falls short of the funding requirement.

Future Plans

GUIDELINE IMPLEMENTATION 5MIN CPD

Moving into 2024, and the future for EASO promises to be more stable than in 2023, with a strong portfolio of funding partners including industry partners, foundations and research project grants. Guiding everything we do will be our comprehensive long-term strategic plan, developed in consultation with our member associations and key stakeholders. It includes an improved structure and processes to ensure we deliver excellence in research, education and policy, while simultaneously continuing to build and support our 36 national members.

We will implement our comprehensive multi-year communications strategy to include society and policy-specific communications. And we will strengthen our collaboration with stakeholder societies, such as those related to disease areas closely linked to obesity.

At the top of our research agenda will be continuously promoting obesity-related research recommendations to relevant EU institutions, and building our international research networks. We will participate in EU Research projects (and proposals), and by 2025 we aim to facilitate and conduct our own EASO COMs-led research.

Equally ambitious will be EASO’s education programme incorporating live residential training, an online platform and certification. We are mapping education provision across Europe and our strategy will address knowledge gaps and help to provide the missing resources identified by healthcare professionals, academics and researchers.

We will further develop our education strategy, based on the results of our ongoing education mapping project. By 2030 we want all medical and HCP school graduates to have received a minimum number of hours of obesity training aligned with our published core competencies and according to a standardised obesity curriculum.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

All of this is on top of our increasingly busy schedule of educational events. These include our 31st Annual European Congress on Obesity, which will take place in Venice in May and looks set to be our biggest and most successful to date. We will continue to develop strong ECN and COMs programmes, with regular webinars, residential schools and teaching courses, and ongoing member communications. We will also commence two new education projects:

5-MIN CPD

Research has demonstrated that there are key elements that can facilitate effective clinical teaching. Online CME is accepted as a convenient education delivery method. It avoids unnecessary travel, it is easily updated, and is an accessible way to improve clinical knowledge and practice. The EASO 5-MIN CPD programme uses recognised international experts to deliver targeted content that HCPs need.

Content is 100% practical and actionable, making it easy for HCPs to apply learnings to their daily clinical practice.

Programmes will be adapted to country and health system settings, delivering to the HCPs that need it most. With strategic partnerships and a fully online model, the 5-MIN CPD concept has the potential to reach thousands of practitioners in every country.

CPG Implementation

EASO recognizes that many national associations are eager to develop new or adapt existing clinical practice guidelines. However, many EASO members lack the resources and capacity to be able to engage in such A resource-intensive research process. There is currently no systematic assessment of existing obesity clinical practice guidelines in Europe. Moreover, the process of promoting and mobilizing any CPG into practice is as critical as the development of the guidelines themselves. CPGs launched in jurisdictions that lack enablers can mean that the guidelines’ value is squandered.

But shifting current policy will be essential to make all of this happen. By 2025, EASO will have influenced EU Institutions, related Member States and WHO EURO Region countries to expand the NCD framework from 5 to 6 to include obesity as an NCD under the policy framework via UNGA NCD High Level Meeting. We will generate and use policy evidence and we will develop a policy landscape that readily accepts obesity as a chronic disease, ensuring that people living with obesity are treated like any other person living with an NCD. We know that managing and treating obesity in line with frameworks established for other NCDs would reduce its high economic impact. Therefore Obesity must be secured as a top agenda item as part of the next EU Strategic Research Agenda (2021 – 2027 and 2027 – 2035).

Importantly, we must deliver advocacy capacity to the stakeholder community at the regional and national levels, working to ensure “health literacy for all on obesity” and contribute to the global adoption of this narrative. We will publish a comprehensive taxonomy on obesity in 2023.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

EASO will facilitate obesity National Plans covering primary prevention, treatment and long-term management implemented across EURO Region by 2030 and we will generate policy evidence through projects including our Cost of Inaction Study and Payor Survey. In the meantime, by 2025, EASO expects to have influenced the EU Institutions, related Member States and WHO EURO Region countries to expand the NCD framework from five to six, including obesity as an NCD under the policy framework. We will work with global partners to do so.

We will build EASO national member policy advocacy capacities via the EASO Policy Changemaker Programme and Early Career Policy Changemaker Programme focusing on “Operation National Plans” and “Research Agenda” from a WHO as well as EU Member States perspective. Last but not least, we will use our policy evidence to underpin the EASO policy narrative, which is adopted by key policymakers and the wider related community

Above all, we continue to work together to improve the lives of individuals and communities living with obesity.

The Structure of European Association for the Study of Obesity

EASO is a ‘Company Limited by Guarantee and not having a Share Capital’ and is governed by its Memorandum and Articles of Association. The association is managed by its Executive Committee which reports to its General Council. The Trustees of EASO are the officers of the Executive Committee.

The Executive Committee Members shall each hold office from the close of the Annual General Council meeting at which they are appointed to the close of the relevant Annual General Council Meeting at which their successor is appointed, unless they are reappointed by the General Council for a further non-renewable term.

Members of the Executive Committee are elected by the General Council. Nominations for election to the office of the President, President Elect, Secretary, Treasurer and Regional Vice President shall be submitted to each Adhering Body by air mail, fax or email at least 90 days’ before the meeting of the General Council at which the election is to be held. Additional nominations may be submitted on behalf of Adhering Bodies at least one month prior to the meeting of the General Council.

Save in the case of Regional Vice Presidents, election of the Executive Committee shall be by secret ballot with a majority vote of those present required for election. Should there be more than 2 nominations, the nominee with least votes in each round will be deleted until a nominee receives a majority vote.

Regional Vice Presidents shall be elected by secret ballot of the delegates of Adhering Bodies in the relevant region (as determined by the Executive Committee) at a meeting of the General Council. The Executive Committee may with approval of the General Council vary the number of regions represented. If a casual vacancy arises in the office of President, President Elect, Secretary, Treasurer or Regional Vice President, this shall be filled by the Executive Committee for the unexpired term of office.

Upon appointment, Trustees receive a comprehensive Trustee Procedural Manual and independently delivered Trustee Training. Ongoing training and sector updates are available to all Trustees.

The General Council (voting membership) of EASO shall comprise the Adhering Bodies - the principal national society, academy, national research council or other appropriate scientific group for the study of obesity whose aims meet the objectives of EASO and which is duly recognised and approved by the Executive Committee as the Adhering Body designated for any European country. No nation may have more than one Adhering Body, but an Adhering Body may represent multiple countries.

The pay of the key management personnel, the CEO is reviewed annually by the President and Executive Committee considering appropriate sector benchmarks.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

LEGAL AND ADMINISTRATIVE INFORMATION

General Information EASO C/OSPACES Causeway House, 13 The Causeway Teddington TW11 0JR United Kingdom

Registered Office

haysmacintyre 10 Queen Street Place London EC4R 1AG

enquiries@easo.org www.easo.org

Registered Charity No: 1111288 Company No: 5483950

Current Executive Committee (Trustees)

President: President-Elect: Secretary: Treasurer: Regional Vice President Northern Region: Regional Vice President Middle Region: Regional Vice President Southern Region:

Jason Halford (UK) Volkan Yumuk (Turkey) Grace O’Malley (Ireland) Paolo Sbraccia (Italy) Tryggvi Helgason (Iceland) Lubomira Fabryova (Slovakia) Luca Busetto (Italy)

Ex Officio

Childhood Obesity Task Force Chair:

Obesity Management Task Force Chair: Prevention and Public Health Task Force Chairs: Scientific Advisory Board Chair: Executive Director/Company Secretary:

Jennifer Baker (Denmark) and Jens-Christian Holm (Denmark) Andreea Ciudin (Spain), Barbara McGowan (UK) Janas Harrington (Ireland) and Emma Boyland (UK) Gema Frühbeck (Spain) and Gijs Goossens (Netherlands) Euan Woodward (UK)

Auditor

Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

Solicitor

Bates Wells & Braithwaite 2-6 Cannon Street London EC4M 6YH

DX 42609

Bank

HSBC Bank plc (UK) 156 - 157 Tottenham Court Road London W17 7AY

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Responsibilities of Trustees

The Trustees, as directors of the charitable company, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each of the directors is aware at the time the report is approved:

AUDITORS

Haysmacintyre LLP have expressed their willingness to continue in office and offer themselves for reappointment at the next Annual General Meeting.

Approved by order of the members of the board of Trustee on _______ and signed on their behalf by:

Jason Halford Trustee

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

Opinion

We have audited the financial statements of European Association for the Study of Obesity (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Trustee's 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 charitable company'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.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustee 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.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustee's Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes 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 charitable company'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.

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EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 Auditors' 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements for GDPR, Charities Act 2011 and Companies Act 2006 and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, income tax and payroll tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that there was a very limited risk as Haysmacintyre prepare the accounts and post the year end journals, there are also few estimates and judgements involved in preparing the accounts. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Page 16

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (CONTINUED)

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Kathryn Burton (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditor 10 Queen Street Place London EC4R 1AG

Date:

Haysmacintyre LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 17

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Donations and Membership income
Charitable activities
Policy, Research & Education
2
Total income
Expenditure on:
Charitable activities
Policy, Research & Education
3
Total expenditure
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2023
£
-
333,892
333,892
89,710
89,710
244,182
(189,776)
54,406
226,929
54,406
281,335		 Unrestricted
funds
2023
£
17,188
677,835
695,023
1,022,413
1,022,413
(327,390)
189,776
(137,614)
155,180
(137,614)
17,566		 Total
funds
2023
£
17,188
1,011,727
1,028,915
1,112,123
1,112,123
(83,208)
-
(83,208)
382,109
(83,208)
298,901		 Total
funds
2022
£
17,241
2,110,273
2,127,514
2,491,317
2,491,317
(363,803)
-
(363,803)
745,912
(363,803)
382,109

The Statement of Financial Activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 21 to 34 form part of these financial statements.

Page 18

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee) REGISTERED NUMBER: 05483950

BALANCE SHEET AS AT 31 DECEMBER 2023

Note
Fixed assets
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
Net current assets
Total net assets
Charity funds
Restricted funds
12
Unrestricted funds
12
Total funds		 -
464,595
464,595
(165,694)		 2023
£
-
298,901
298,901
281,335
17,566
298,901		 11,556
488,030
499,586
(117,477)		 2022
£
-
382,109
382,109
226,929
155,180
382,109

The financial statements were approved and authorised for issue by the Trustee on _______ and signed on their behalf by:

Paolo Sbraccia Trustee

The notes on pages 21 to 34 form part of these financial statements.

Page 19

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

Cash flows from operating activities
Net cash used in operating activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2023
£
(23,435)
(23,435)
488,030
464,595		 2022
£
(1,843,240)
(1,843,240)
2,331,270
488,030

The notes on pages 21 to 34 form part of these financial statements

Page 20

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

European Association for the Study of Obesity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties in relation to going concern. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Company status

The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.5 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

1.6 Membership dues, advertising and publishing royalties

Income from membership dues, advertising and publishing royalties are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Page 21

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies (continued)

1.7 Conference organisation and media support

Income from conference organisation and media support is included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Conference income represents EASO’s share of the balance generated from the congress after deducting the relevant running costs.

1.8 Investment income

Investment income, including interest receivable, is included when receivable by the charity.

1.9 Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Direct costs, including directly attributable salaries, are allocated on an actual basis to the key strategic area of activity. Overheads and other salaries are allocated between the expenses headings on the basis of time spent.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and are allocated on the basis of staff cost. Governance costs are those incurred in connection with enabling the Charity to comply with external regulation, constitutional and statutory requirements and in providing support to the Trustees in the discharge of their statutory duties and are now apportioned on the same basis as the support costs.

1.10 Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the SOFA.

The companies functional and presentational currency is GBP.

1.11 VAT

The charity is not registered for VAT and expenses therefore include an element of irrecoverable VAT.

1.12 Pensions

There is no company pension scheme in operation but contributions are paid for the staff member into a personal pension scheme.

1.13 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 22

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies (continued)

1.14 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments.

1.15 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.16 Employee benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

1.17 Estimates and Judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the trustee’s best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Trustees do not consider there to be any material estimates and judgements.

2. Charitable activities

Corporate funded research and education
Advocacy income
General income
SWEET income
Timespan income
Awards income
Biostreams income
Better4U income
PREVENT income		 Restricted
funds
2023
£
-
-
-
22,755
-
-
68,044
135,861
107,232
333,892		 Unrestricted
funds
2023
£
391,548
236,053
8,536
-
-
41,698
-
-
-
677,835		 Total
funds
2023
£
391,548
236,053
8,536
22,755
-
41,698
68,044
135,861
107,232
1,011,727

Page 23

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Charitable activities (continued)

Corporate funded research and education
Advocacy income
General income
SOPHIA income		 Restricted
funds
2022
£
-
-
-
6,375
6,375		 Unrestricted
funds
2022
£
1,643,612
415,879
44,407
-
2,103,898		 Total
funds
2022
£
1,643,612
415,879
44,407
6,375
2,110,273

3. Analysis of expenditure on charitable activities

Summary by fund type

Policy & Research
Education – Charity
Total 2023
Policy & Research
Education – Charity
Total 2022		 Restricted
funds
2023
£
89,710
-
89,710
Restricted
funds
2022
£
33,605
-
33,605		 Unrestricted
funds
2023
£
439,251
583,162
1,022,413
Unrestricted
funds
2022
£
1,214,931
1,242,781
2,457,712		 Total
2023
£
528,961
583,162
1,112,123
Total
2022
£
1,248,536
1,242,781
2,491,317

Page 24

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type

Policy & Research
Education – Charity
Total 2023
Policy & Research
Education – Charity
Total 2022
4.
Analysis of expenditure by activities
Policy & Research
Education – Charity		 Staff costs
2023
£
55,950
68,382
124,332
Staff costs
2022
£
56,270
68,773
125,043
Direct
costs
2023
£
145,002
396,010
541,012		 Other costs
2023
£
473,011
514,780
987,791
Other costs
2022
£
1,192,266
1,174,008
2,366,274
Support
costs
2023
£
383,959
187,152
571,111		 Total
2023
£
528,961
583,163
1,112,123
Total
2022
£
1,248,536
1,242,781
2,491,317
Total
funds
2023
£
528,961
583,162
1,112,123

Page 25

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4. Analysis of expenditure by activities (continued)

Policy & Research
Education – Charity		 Direct
costs
2022
£
507,322
1,037,541
1,544,863		 Support
costs
2022
£
741,214
205,240
946,454		 Total
funds
2022
£
1,248,536
1,242,781
2,491,317

Analysis of support costs

Staff costs
Governance costs
Policy / Advocacy
Communications
EASO office costs
Website and marketing
Staff costs
Governance costs
Policy / Advocacy
Communications
EASO office costs
Website and marketing
EOD and ECO costs		 Policy &
Research
2023
£
55,950
14,429
180,830
81,793
44,183
6,774
383,959
Policy &
Research
2022
£
56,270
25,546
556,571
55,826
30,206
14,052
2,743
741,214		 Education –
Charity
2023
£
68,382
13,352
-
99,969
(2,831)
8,280
187,152
Education –
Charity
2022
£
68,774
10,789
-
68,232
36,918
17,175
3,352
205,240		 Total
funds
2023
£
124,332
27,781
180,830
181,762
41,352
15,054
571,111
Total
funds
2022
£
125,044
36,335
556,571
124,058
67,124
31,227
6,095
946,454

Page 26

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Governance costs

Audit & accountancy services
Executive Committee meeting expenses		 2023
£
24,277
3,505
27,782		 2022
£
19,617
16,718
36,335

6. Net funds for the year

This is stated after charging:
Auditors remuneration - charity
Accountancy fees		 2023
£
9,500
14,777
24,277		 2022
£
8,504
11,113
19,617

During the year, no Trustees received any remuneration (2022 - £NIL).

During the year, no Trustees received any benefits in kind (2022 - £NIL).

During the year, no Trustees received reimbursement of expenses (2022 - £NIL).

7. Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

8. Staff costs

Wages and salaries
Social security costs
Pension costs		 2023
£
105,472
8,300
10,560
124,332		 2022
£
105,472
9,011
10,560
125,043

Page 27

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

8. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
Capital for Employees 1 1

There was only one employee in the year, who received remuneration in the range of over £100,001 to £110,000 (2022: one in the range of £100,001 to £110,000).

Key management personnel is the Executive Director. The total employee benefits of the key management personnel of charity were £124,332 (2022: £125,043).

The costs above relate to the Executive Director who is the key management personnel. No benefits other than salary and pension above were received (2022: £nil).

9. Debtors

Due within one year
Prepayments and accrued income
Intercompany debtor		 2023
£
-
-
-		 2022
£
10,280
1,276
11,556

10. Creditors: Amounts falling due within one year

Other creditors
Accruals
Deferred income
OTSS		 2023
£
5,813
155,796
-
4,085
165,694		 2022
£
5,816
43,202
64,375
4,084
117,477

Page 28

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Deferred income at 1 January 2023
Resources deferred during the year
Amounts released from previous periods		 2023
£
64,375
-
(64,375)
-		 2022
£
1,545,985
64,375
(1,545,985)
64,375

Deferred income in the year related to project funding received in advance of projects starting.

11. Related Party Transactions

There were no related party transactions to note (2022- none to note).

12. Statement of funds

Statement of funds - current year

Unrestricted funds
General charitable funds
Restricted funds
NOHOW
PROTEIN
SWEET
SOPHIA
TIMESPAN
Biostreams
Better4U
PREVENT
OBCT
Total of funds		 Brought
Forward
£
155,180
59,396
154,656
(5,902)
10,724
8,055
-
-
-
-
226,929
382,109		 Income
£
695,023
-
-
18,343
-
4,411
68,044
135,862
107,232
-
333,892
1,028,915		 Expenditure
£
(1,022,413)
-
(24,276)
(13,067)
-
(1,000)
(20,380)
(11,369)
(18,048)
(1,570)
(89,710)
(1,112,123)		 Transfers
in/out
£
189,776
(59,396)
(130,380)
-
-
-
-
-
-
-
(189,776)
-		 Carried
Forward
£
17,566
-
-
(626)
10,724
11,466
47,664
124,493
89,184
(1,570)
281,335
298,901

Page 29

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

12.
Statement of funds (continued)
Statement of funds - prior year
Brought
Forward
£
Unrestricted funds
General charitable funds
492,285
Restricted funds
MooDFOOD
(127)
NOHOW
59,396
PROTEIN
177,660
SWEET
3,871
SOPHIA
4,773
TIMESPAN
8,055
253,628
Total of funds
745,913		 Income
£
2,121,139
-
-
-
-
6,375
-
6,375
2,127,514		 Expenditure
£
(2,457,712)
(405)
-
(23,004)
(9,773)
(424)
-
(33,606)
(2,491,318)		 Transfers
in/out
£
(532)
532
-
-
-
-
-
532
-		 Carried
Forward
£
155,180
-
59,396
154,656
(5,902)
10,724
8,055
226,929
382,109

Page 30

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

12. Statement of funds (continued)

PROTEIN

PROTEIN is a multicentre research project addressing the issue of personalised nutrition. This project has received funding from the European Union’s Horizon 2021 research and innovation programme.

Following the completion of this project, the balance has been transferred to unrestricted funds.

SWEET

SWEET is a multicentre research project addressing the issue of artificial sweeteners and wright management. This project has received funding from the European Union’s Horizon 2021 research and innovation programme. This project is still ongoing, and funding will be received in financial year end December 2023.

SOPHIA

The mission of the SOPHIA project is to enable healthcare professionals to reliably predict the complications of obesity and who will respond to treatment. Twenty-nine leading international players from academia, industry and civil society have joined forces to find better solutions to alleviate the burden and consequences of obesity. The project is supported with funding of EUR 16million from the Innovative Medicines Initiative (IMI), a joint undertaking of the European Commission and the European Federation of Pharmaceutical Industries and Associations (EFPIA), T1D Exchange, JDRF, International Diabetes Federation (IDF) and Obesity Action Coalition.

TIMESPAN

TIMESPAN’s main objective is to advance the management of patients with Attention Deficit Hyperactivity Disorders (ADHD), who also suffer from cardiometabolic disease - including obesity - by improving available treatments and risk stratification. Emerging evidence points at a strong association and shared genetic traits between adult ADHD and cardiometabolic diseases like Obesity, Type-2 Diabetes and cardiovascular disease, which, when inadequately treated can lead to adverse outcomes and substantial costs for society. Various national guidelines of cardiometabolic disease already stressed the importance of concurrent psychiatric disorders, however knowledge about appropriate management of cardiometabolic disease in ADHD is lacking. This is problematic given that ADHD is a common and serious condition, which affects between 2 and 5 % of adults. TIMESPAN seeks to address the main objective using existing large-scale cohort studies and linked electronic health record databases in multiple countries with different health care systems. We also make use of smartphones and wearable devices to obtain novel real-time and data rich measurements of ADHD medication treatment and cardiometabolic risks.

NOHOW

Following the completion of this project, the balance has been transferred to unrestricted funds.

Page 31

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13. Summary of funds

Summary of funds - current year

General funds
Restricted funds
Total funds		 Brought
Forward
£
155,180
226,929
382,109
Brought
Forward
£
492,285
253,628
745,913		 Income
£
695,023
333,892
1,028,915
Income
£
2,121,139
6,375
2,127,514		 Expenditure
£
(1,022,413)
(89,710)
(1,112,123)
Expenditure
£
(2,457,712)
(33,606)
(2,491,318)		 Transfers
in/out
£
189,776
(189,776)
-
Transfers
in/out
£
(532)
532
-		 Carried
Forward
£
17,566
281,335
298,901
Carried
Forward
£
155,180
226,929
Summary of funds - prior year
General funds
Restricted funds
Total funds
382,109

14. Analysis of net assets between funds Analysis of net assets between funds - current year

Current assets
Creditors due within one year
Total		 Restricted
funds
2023
£
281,335
-
281,335		 Unrestricted
funds
2023
£
183,260
(165,694)
17,566		 Total
funds
2023
£
464,595
(165,694)
298,901

Page 32

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14.
Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
Restricted
funds
2022
Unrestricted
funds
2022
£
£
Current assets
226,929
272,657
Creditors due within one year
-
(117,477)
Total
226,929
155,180
15.
Reconciliation of net movement in funds to net cash flow from operating activities
2023
£
Net expenditure for the year (as per Statement of Financial Activities)
(83,208)
Adjustments for:
Decrease/(increase) in debtors
(50,592)
Increase/(decrease) in creditors
115,733
Net cash used in operating activities
(18,067)
16.
Analysis of cash and cash equivalents
2023
£
Cash in hand
464,595		 Total
funds
2022
£
499,586
(117,477)
382,109
2022
£
(363,803)
13,947
(1,493,384)
(1,843,240)
2022
£
488,030

Page 33

EUROPEAN ASSOCIATION FOR THE STUDY OF OBESITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

17. Analysis of changes in net debt

Cash at bank and in hand At 1 January
2023
£
488,030
488,030		 Cash flows
£
(23,435)
(23,435)		 At 31
December
2023
£
464,595
464,595

Page 34