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← The Society For Cardiothoracic Surgery In Great Britain And Ireland

2024-09-30-accounts

REGISTERED COMPANY NUMBER: 05685735 (England and Wales) REGISTERED CHARITY NUMBER: 1113536

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

Page
Report of the Trustees 1 to 7
Report of the Independent Auditors 8 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 29

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND (REGISTERED NUMBER: 05685735)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of 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 Society is established to facilitate scientific communication within the specialty, enhance quality of delivery of care and improve the standard of education and training of cardiothoracic surgery in Great Britain and Ireland.

The Society represents the views of cardiothoracic surgeons and other members of the multiprofessional cardiothoracic workforce on all major topics of interest in the specialty. It develops guidelines on clinical management and working practices.

The Society has taken a lead in data collection and analysis for over 25 years. Comprehensive data on activity and outcomes are available through national audits.

With the Royal College of Surgeons, the Society helps monitor standards and investigate problems that are highlighted by this. It has taken the lead in developing a system of Quality Assurance for the Hospitals involved in Cardiothoracic Surgery.

The Society holds an annual meeting in the spring where lectures are given and papers presented in order that members are updated on current developments within the specialty.

The 2025 meeting is due to be held at the EICC in Edinburgh between 16 and 18 March 2025. The 2026 meeting is due to be held at the ICC in Belfast between 15 and 17 March 2026.

ACHIEVEMENT AND PERFORMANCE

Fundraising activities

We believe that fundraising should be done in an ethical manner. We never share, sell, swap or rent data to third parties for marketing purposes. We will only send communication to those who want it in the method they have agreed to.

We are committed to protecting privacy and will only use personal data that we collect in line with applicable laws, including the General Data Protection Regulation (GDPR).

We ensure we adhere to all charity sector guidelines and regulations including the Fundraising Code of Practice and take appropriate action if we find any failure to meet these standards.

Achievements

The charity continued to run educational courses. It recognises the deficit in SCTS Education funding and has taken steps to manage this by seeking additional educational income and reducing expenditure.

Page 1

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND (REGISTERED NUMBER: 05685735)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

FINANCIAL REVIEW

Principal funding sources

The Charity needs a steady income in order to achieve its objectives. This is achieved by an annual subscription from all Full and Associate members of the Society and by income generation at the annual meeting of the Society for which a registration fee is paid by all attendees and fees are charged to exhibitors.

The total income from the 2024 annual meeting was £490,875 (2023: £568,307). Expenditure was £394,880 (2023: £297,357) resulting in a surplus of £95,995 (2023: £270,950).

Total income from Education was £344,217 (2023: £258,975). Expenditure was £191,650 (2023: £576,607), resulting in a surplus of £152,567 (2023: deficit of £317,632).

Other charitable income totalled £186,150 (2023: £219,935).

The costs of management and administration of the Society's affairs for the year was £348,133 (2023: £407,857). The cost of governance for the year was £49,147 (2023: £39,268).

Investment policy and objectives

The investment policy of the Society is to maintain adequate funds to fulfil its educational objectives and secondly to achieve maximum return on its investments whilst avoiding high risk investments. Certain types of investments, for example, in the tobacco industry or the arms industry are excluded as are any investments which could give rise to a potential conflict of interest within the overall aims of the Society.

Reserves policy

It is the aim of the trustees to increase the income of the Society in the future in order to maintain the reserves and to be in a position of providing more sponsorship to surgical and nursing & allied health professional members and to enhance the development of cardiothoracic surgery in Great Britain and Ireland.

The trustees have satisfied themselves that the charity has the resources to meet its commitments. Sufficient resources are held in an appropriate form to enable each restricted fund to be applied in accordance with the restrictions for their use. Sufficient unrestricted funds are held to enable the charity to cover unforeseen day-to-day operational costs or to mitigate against a reduction in a source of income.

Reserves at 30 September 2024 were as follows:

Unrestricted funds - (£12,642) (2023: (£29,072)) Restricted funds - £726,108 (2023: £593,122) Total funds - £713,466 (2023: £564,050)

The charity's free reserves represent unrestricted reserves less fixed assets. These amount to (£13,010) (2023: (£29,490)).

Page 2

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND (REGISTERED NUMBER: 05685735)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

FUTURE PLANS

The current objectives of the Society include dissemination of information into the public domain on outcomes following cardiothoracic surgical procedures in the UK. This is available to patients and other healthcare professionals alike. A second current objective involves reviewing quality of care by use of new outcome measures based on the composite of mortality and morbidity rather than focusing on an individual surgeon's mortality figures. A third objective involves the Society engaging in discussion with patient groups in order to engage them in regular discussions with the Society and thereby promote patient agenda within healthcare workers in our specialty.

The objectives for the Society are reviewed on a regular basis and are normally set out by the President each year. The educational objectives of the Society including its commitment to education and the provision of scholarships remain an ongoing imperative.

The Trustees have concluded that the charity is a going concern for at least 12 month following the signature of these financial statements.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Appointment of new trustees is governed by the articles of association of the charity, dated 28 March 2024. The Board of Trustees is authorised to co-opt new trustees to fill vacancies arising through resignation or death of an existing trustee.

Page 3

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND (REGISTERED NUMBER: 05685735)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

The Society is governed by an Executive who are elected or appointed from the membership of the Society. The President Elect is elected by the Full Members and the other senior officers (Honorary Secretary, Honorary Treasurer, Meeting Secretary and Communication Secretary) are appointed by a panel of officers and trustees. Decisions are made by the Executive, which meets thrice-yearly chaired by the President of the Society.

During the year to 30 September 2024 there were 1,979 members (2023: 1,616). If the charity is dissolved, any member who has held office within 12 months of dissolution will be liable to pay an amount up to £10 towards the costs of dissolution and the liabilities incurred by the charity while they were a member.

The SCTS Executive Committee for 2023-24 was comprised as follows:

Narain Moorjani (President) Amar Coonar (President Elect) Rana Sayeed (Honorary Secretary) Mark Jones (Honorary Treasurer) Cha Rajakaruna (Meeting Secretary) Betsy Evans (Elected member) Andrew Parry (Elected member & Congenital Sub-committee Co-Chair) Vipin Zamvar (Elected member) Manoj Purohit (Elected member) Attilio Lotto (Elected member) Karen Redmond (Elected member and Thoracic Surgery Co-Chair) Sarah Murray (Lay representative) Deborah Harrington (Joint Education Secretary) Elizabeth Belcher (Joint Education Secretary) Bhuvana Krishnamoorthy (Nursing & AHP Representative) Bassem Gadallah (Trainee Representative) Walid Mohamed (Trainee Representative) Sri Rathinam (Communication Secretary) Hunaid Vohra (Innovation Sub-Committee Co-Chair) Eric Lim (Research Sub-Committee Co-Chair) Mahmoud Loubani (Research Sub-Committee Co-Chair) Steven Tsui (Transplantation Co-Chair) Manoj Kuduvalli (Adult Cardiac Surgery Co-Chair) Uday Trivedi (Adult Sub-Committee Co-Chair) Indu Deglurkar (Equality, Diversity & Inclusion Co-Chair) Ralitsa Baranowski (WICTS Co-Chair)

Induction and training of new trustees

All new Trustees of the Society are informed of their obligations under Charity Law as a Trustee of the Society. They are encouraged to read a copy of the booklet "What Trustees need to know" and a copy of the Good Trustee Guide (NCVO Publications) is available for their perusal. Because the Society is a fairly small activity no further specific training is offered at the current time in this area of their responsibility.

Key management remuneration

The key management of the charity are considered to be the trustees who receive no remuneration except the reimbursement of expenses.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05685735 (England and Wales)

Page 4

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND (REGISTERED NUMBER: 05685735)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

Registered Charity number 1113536

Registered office

The Royal College of Surgeons of England 35-43 Lincoln's Inn Fields London WC2A 3PE

Trustees

J Nowell (appointed 18.3.2025) S Schueler (appointed 18.3.2025) E F Akowuah (appointed 18.3.2025) A S Coonar V Y Zamvar (resigned 18.3.2025) C Rajakaruna (resigned 19.3.2024) Ms I Deglurkar (appointed 1.4.2024) E Khoshbin (appointed 1.4.2024) S Bhudia (appointed 1.4.2024) Ms T Bartley (appointed 21.6.2024) G Qsous (appointed 21.6.2024) Miss R Purmessur (appointed 21.6.2024) N Moorjani (resigned 18.3.2025) R A Sayeed J M Jones Prof. A A Lotto Prof. K C Redmond Miss B Evans (resigned 1.4.2024) A J Parry (resigned 1.4.2024) M Purohit (resigned 18.3.2025)

Senior Statutory Auditor

Michaela Johns FCCA

Auditors

Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR

Bankers

Barclays Bank plc PO Box 104 St Albans Hertfordshire AL1 3AN

Page 5

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND (REGISTERED NUMBER: 05685735)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

REFERENCE AND ADMINISTRATIVE DETAILS Investment Managers

JM Finn 4 Coleman Street London EC2R 5TA

PayPal

PayPal UK Ltd Whittaker House Surrey TW9 1EH

PUBLIC BENEFIT

The Society provides a benefit to the public through the development of cardiothoracic surgery, the enhancement of quality and standards in the specialty, and the collection, analysis, and publication of data on activity and outcomes in cardiothoracic surgery.

The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Society for Cardiothoracic Surgery in Great Britain and Ireland for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

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

In so far as the trustees are aware:

Page 6

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND (REGISTERED NUMBER: 05685735)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

....................................................................

J M Jones - Trustee

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

Opinion

We have audited the financial statements of The Society for Cardiothoracic Surgery in Great Britain and Ireland (the 'charitable company') for the year ended 30 September 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 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 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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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 the audit:

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where 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 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.

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

Our 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 a Report of the Independent Auditors 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:

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. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, and the industry in which it operates. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Practice, Charity SORP and the relevant tax compliance regulations for the company.

We obtained an understanding of how the company is complying with these frameworks through discussions with management.

We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures including but not limited to a review of legal and professional costs, correspondence and a review of board minutes.

We assessed the susceptibility of the company's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.

We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the industry in which the company operates in, and their practical experience through training and participation with audit engagements of a similar nature.

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 Report of the Independent Auditors.

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

Use of our report

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

Michaela Johns FCCA (Senior Statutory Auditor) for and on behalf of Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR 08 May 2025 Date: .............................................

Page 11

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
120
Charitable activities
5
Annual meeting
490,875
Education
130,028
Other charitable activities
186,150
Other trading activities
3
29,505
Investment income
4
14,740
Other income
3,254
Total
854,672
EXPENDITURE ON
Raising funds
4,468
Charitable activities
6
Annual meeting
394,880
Education
78,363
Other charitable activities
421,493
Total
899,204
Net gains on investments
57,353
NET INCOME/(EXPENDITURE)
12,821
Transfers between funds
19
3,609
Net movement in funds
16,430
RECONCILIATION OF FUNDS
Total funds brought forward
(29,072)
TOTAL FUNDS CARRIED FORWARD
(12,642)		 Restricted
funds
£
-
-
214,189
-
-
4,165
-
218,354
2,803
-
113,287
-
116,090
34,331
136,595
(3,609)
132,986
593,122
726,108		 2024
Total
funds
£
120
490,875
344,217
186,150
29,505
18,905
3,254
1,073,026
7,271
394,880
191,650
421,493
1,015,294
91,684
149,416
-
149,416
564,050
713,466		 2023
Total
funds
£
30
568,307
258,975
219,935
13,166
11,121
1,715
1,073,249
8,353
297,357
567,607
461,833
1,335,150
13,472
(248,429)
-
(248,429)
812,479
564,050

The notes form part of these financial statements

Page 12

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND (REGISTERED NUMBER: 05685735)

BALANCE SHEET 30 SEPTEMBER 2024

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
14
368
Investments
15
452,113
452,481
CURRENT ASSETS
Debtors: amounts falling due within one year
16
196,394
Cash at bank
(517,330)
(320,936)
CREDITORS
Amounts falling due within one year
17
(144,187)
NET CURRENT ASSETS/(LIABILITIES)
(465,123)
TOTAL ASSETS LESS CURRENT
LIABILITIES
(12,642)
NET ASSETS
(12,642)
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
233,986
233,986
1,315
601,973
603,288
(111,166)
492,122
726,108
726,108		 2024
Total
funds
£
368
686,099
686,467
197,709
84,643
282,352
(255,353)
26,999
713,466
713,466
(12,642)
726,108
713,466		 2023
Total
funds
£
418
817,395
817,813
110,752
121,766
232,518
(486,281)
(253,763)
564,050
564,050
(29,072)
593,122
564,050

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. J M Jones - Trustee

The notes form part of these financial statements

Page 13

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of fixed asset investments
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
(270,244)
(270,244)
(38)
225,000
8,159
233,121
(37,123)
121,766
84,643		 2023
£
(58,000)
(58,000)
(382)
100,000
1,505
101,123
43,123
78,643
121,766

The notes form part of these financial statements

Page 14

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
2024 2023
£ £
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities) 149,416 (248,429)
Adjustments for:
Depreciation charges 88 252
Gain on investments (91,684) (13,472)
Loss on disposal of fixed assets - 123
Interest received (8,159) (1,505)
Investment management fees 8,726 10,022
Dividends received (10,746) (9,616)
(Increase)/decrease in debtors (87,711) 408,367
Decrease in creditors (230,174) (203,742)
Net cash used in operations (270,244) (58,000)
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.10.23 Cash flow At 30.9.24
£ £ £
Net cash
Cash at bank 121,766 (37,123) 84,643
121,766 (37,123) 84,643
Total 121,766 (37,123) 84,643

The notes form part of these financial statements

Page 15

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Raising funds

Cost of generating funds are included in the Statement of Financial Activities on an accruals basis, exclusive of Value Added Tax and relate to Annual General Meeting expenses.

Charitable activities

Charitable activities are included in the Statement of Financial Activities on an accruals basis, exclusive of Value Added Tax and relate to the costs of the annual meeting, the costs of grants and scholarships, and the general management and administration of the charity.

Governance costs

Governance costs are included in the Statement of Financial Activities on an accruals basis, exclusive of Value Added Tax.

Allocation and apportionment of costs

All support costs relate to the general management and administration of the charity.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures and fittings - either 15% or 33% straight line

There is no value below which assets are not capitalised.

Page 16

continued...

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. ACCOUNTING POLICIES - continued

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Fixed asset investments

Fixed asset investments comprise the charity's investments in listed equities. Fixed asset investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Cash and cash equivalents

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Financial assets

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 assets are recognised in the balance sheet when the charity becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

continued...

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THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.
DONATIONS AND LEGACIES
Donations
3.
OTHER TRADING ACTIVITIES
Advertising
4.
INVESTMENT INCOME
Income from fixed asset investments
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Registrations
Annual meeting
Sponsorship
Annual meeting
Exhibitors
Annual meeting
Grants
Annual meeting
Educational income
Education
Grants
Education
Subscriptions
Other charitable activities		 2024
£
120
2024
£
29,505
2024
£
10,746
8,159
18,905
2024
£
116,195
36,833
337,847
-
176,688
167,529
186,150
1,021,242		 2023
£
30
2023
£
13,166
2023
£
9,616
1,505
11,121
2023
£
181,888
6,452
369,967
10,000
213,904
45,071
219,935		 2023
£
30
2023
£
13,166		 2023
£
30
2023
£
9,616
1,505
11,121
1,047,217

continued...

Page 18

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Annual meeting
Education
Other charitable activities		 Direct
Costs (see
note 7)
£
394,880
292,650
24,213
711,743		 Grant
funding of
activities
(see note
8)
£
-
(101,000)
-
(101,000)		 Support
costs (see
note 9)
£
-
-
397,280
397,280		 Totals
£
394,880
191,650
421,493
1,008,023

7. DIRECT COSTS OF CHARITABLE ACTIVITIES

Advertising
Venue hire
Audio visual
Travel and accommodation
Printing
Other annual meeting costs
Educational expenditure		 2024
£
6,070
137,447
463
67,673
74,626
132,814
292,650
711,743		 2023
£
159
137,768
3,437
59,750
55,844
107,711
344,880
709,549

8. GRANTS PAYABLE

Grants to individuals Grants to individuals
2024 2023
£ £
Heart Research UK 32,000 79,000
ACT - SCTS Travelling Fellowship - 20,000
The AstraZeneca Scholarships - 66,000
The Ionescu Education and Quality Trust (123,000) -
The Mr M and Dr C Ionescu Travelling Fund (10,000) -
(101,000) 170,000

Negative grants, noted above, represent grants previously awarded which have remained unclaimed for a period of time and have now been written back into the relevant fund.

continued...

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THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. SUPPORT COSTS

SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Other charitable activities 348,133 49,147 397,280

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£ £
Depreciation - owned assets 88 252
Deficit on disposal of fixed assets - 123
Accountancy fees - audit 18,500 13,200
Accountancy fees - other services 8,151 6,909

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.

Trustees' expenses

Expenses totalling £9,234 (2023: £9,179) were reimbursed to eleven (2023: ten) trustees in respect of costs attending trustees and executive meetings.

There were no Fellowships awarded to trustees in the year (2023: £25,000 to two trustees).

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
200,505
16,333
5,470
222,308		 2023
£
137,384
9,379
3,964
150,727

The average monthly number of employees during the year was as follows:

2024 2023
Administration 5 5

No employees received emoluments in excess of £60,000.

No remuneration was paid to persons considered to be Key Management in either year.

continued...

Page 20

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
30
-
Charitable activities
Annual meeting
568,307
-
Education
18,473
240,502
Other charitable activities
219,935
-
Other trading activities
13,166
-
Investment income
7,441
3,680
Other income
1,715
-
Total
829,067
244,182
EXPENDITURE ON
Raising funds
4,581
3,772
Charitable activities
Annual meeting
297,357
-
Education
272,767
294,840
Other charitable activities
461,833
-
Total
1,036,538
298,612
Net gains on investments
1,204
12,268
NET INCOME/(EXPENDITURE)
(206,267)
(42,162)
RECONCILIATION OF FUNDS
Total funds brought forward
177,195
635,284
TOTAL FUNDS CARRIED FORWARD
(29,072)
593,122		 Total
funds
£
30
568,307
258,975
219,935
13,166
11,121
1,715
1,073,249
8,353
297,357
567,607
461,833
1,335,150
13,472
(248,429)
812,479
564,050

continued...

Page 21

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

14. TANGIBLE FIXED ASSETS

14.
TANGIBLE FIXED ASSETS
COST
At 1 October 2023
Additions
At 30 September 2024
DEPRECIATION
At 1 October 2023
Charge for year
At 30 September 2024
NET BOOK VALUE
At 30 September 2024
At 30 September 2023
15.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 October 2023
Revaluations
At 30 September 2024
NET BOOK VALUE
At 30 September 2024
At 30 September 2023
The movement in the fair value of listed investments is as follows:
Fair value at 1 October 2023
Investment income
Investment gains on disposals
Change in market value
Investment management fees
Investment withdrawals
Fair value as at 30 September 2024		 Fixtures
and
fittings
£
2,877
38
2,915
2,459
88
2,547
368
418
Listed
investments
£
817,395
(131,296)
686,099
686,099
817,395
£
817,395
10,746
42,455
49,229
(8,726)
(225,000)
686,099

continued...

Page 22

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

15. FIXED ASSET INVESTMENTS - continued

==> picture [453 x 73] intentionally omitted <==

Investments comprise: 2024 2023
£ £
UK equities 316,305 423,851
Overseas equities 254,404 273,970
Gilts 106,881 99,438
Cash 8,509 20,136
686,099 817,395

The historic cost of the above fixed asset investments are £515,862 (2023: £696,710)

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
VAT
Prepayments and accrued income
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income		 2024
£
57,846
-
5,979
133,884
197,709
2024
£
20,994
10,938
-
16,855
206,566
255,353		 2023
£
49,830
2,305
754
57,863
110,752
2023
£
11,299
30
3,454
11,000
460,498
486,281

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

continued...

Page 23

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Deferred Income

Deferred Income
2024 2023
£ £
Deferred income at the start of the year 48,330 46,214
Resources deferred during the period 55,407 48,330
Amounts released from the prior period (48,330) (46,214)
Deferred income at the end of the year 55,407 48,330

The deferred income relates to subscriptions received in advance.

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2024
£
28,374
17,770
46,144		 2023
£
19,983
32,573
52,556

19. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net Transfers
movement between
At 1.10.23 in funds funds At 30.9.24
£ £ £ £
Unrestricted funds
General fund (29,072) 12,821 3,609 (12,642)
Restricted funds
The Ionescu Education and Quality Trust 156,720 158,694 - 315,414
Risk modelling 8,150 - - 8,150
Ethicon Trainee Scholarships 113,641 - - 113,641
Cardio Solutions Fellowship 6,541 (916) (3,609) 2,016
The Mr M and Dr C Ionescu Travelling
Fellowship for Consultant Surgeons 240,280 10,000 - 250,280
Ethicon Courses 58,790 (22,183) - 36,607
Medtronic 9,000 (9,000) - -
593,122 136,595 (3,609) 726,108
TOTAL FUNDS 564,050 149,416 - 713,466

continued...

Page 24

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
The Ionescu Education and Quality Trust
Cardio Solutions Fellowship
The Mr M and Dr C Ionescu Travelling
Fellowship for Consultant Surgeons
Ethicon Courses
Heart Research UK
Medtronic
TOTAL FUNDS		 Incoming
resources
£
854,672
4,165
-
-
182,189
32,000
-
218,354
1,073,026		 Resources
expended
£
(899,204)
120,198
(916)
10,000
(204,372)
(32,000)
(9,000)
(116,090)
(1,015,294)		 Gains and
losses
£
57,353
34,331
-
-
-
-
-
34,331
91,684		 Movement
in funds
£
12,821
158,694
(916)
10,000
(22,183)
-
(9,000)
136,595
149,416

Comparatives for movement in funds

Net
movement
At 1.10.22 in funds At 30.9.23
£ £ £
Unrestricted funds
General fund 177,195 (206,267) (29,072)
Restricted funds
The Ionescu Education and Quality Trust 144,544 12,176 156,720
Risk modelling 8,150 - 8,150
Ethicon Trainee Scholarships 113,641 - 113,641
Cardio Solutions Fellowship 6,541 - 6,541
The Mr M and Dr C Ionescu Travelling
Fellowship for Consultant Surgeons 240,280 - 240,280
Ethicon Courses 43,128 15,662 58,790
Heart Research UK 79,000 (79,000) -
Medtronic - 9,000 9,000
635,284 (42,162) 593,122
TOTAL FUNDS 812,479 (248,429) 564,050

Page 25

continued...

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
The Ionescu Education and Quality Trust
Research and Clinical Trial Education
Ethicon Courses
Heart Research UK
Michael Warburg SCTS Fellowship
Medtronic
TOTAL FUNDS		 Incoming
resources
£
829,067
3,680
66,000
129,502
-
20,000
25,000
244,182
1,073,249		 Resources
expended
£
(1,036,538)
(3,772)
(66,000)
(113,840)
(79,000)
(20,000)
(16,000)
(298,612)
(1,335,150)		 Gains and
losses
£
1,204
12,268
-
-
-
-
-
12,268
13,472		 Movement
in funds
£
(206,267)
12,176
-
15,662
(79,000)
-
9,000
(42,162)
(248,429)

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between
At 1.10.22 in funds funds At 30.9.24
£ £ £ £
Unrestricted funds
General fund 177,195 (193,446) 3,609 (12,642)
Restricted funds
The Ionescu Education and Quality Trust 144,544 170,870 - 315,414
Risk modelling 8,150 - - 8,150
Ethicon Trainee Scholarships 113,641 - - 113,641
Cardio Solutions Fellowship 6,541 (916) (3,609) 2,016
The Mr M and Dr C Ionescu Travelling
Fellowship for Consultant Surgeons 240,280 10,000 - 250,280
Ethicon Courses 43,128 (6,521) - 36,607
Heart Research UK 79,000 (79,000) - -
635,284 94,433 (3,609) 726,108
TOTAL FUNDS 812,479 (99,013) - 713,466

Page 26

continued...

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
The Ionescu Education and Quality Trust
Cardio Solutions Fellowship
The Mr M and Dr C Ionescu Travelling
Fellowship for Consultant Surgeons
Research and Clinical Trial Education
Ethicon Courses
Heart Research UK
Michael Warburg SCTS Fellowship
Medtronic
TOTAL FUNDS		 Incoming
resources
£
1,683,739
7,845
-
-
66,000
311,691
32,000
20,000
25,000
462,536
2,146,275		 Resources
expended
£
(1,935,742)
116,426
(916)
10,000
(66,000)
(318,212)
(111,000)
(20,000)
(25,000)
(414,702)
(2,350,444)		 Gains and
losses
£
58,557
46,599
-
-
-
-
-
-
-
46,599
105,156		 Movement
in funds
£
(193,446)
170,870
(916)
10,000
-
(6,521)
(79,000)
-
-
94,433
(99,013)

The general fund represents the free funds of the Society which are not designated for particular purposes.

The only restricted funds in place at the year end were as follows:

The Ionescu Education and Quality Fund

The purpose of this fund is to award scholarships to young consultants (normally within 5 years of appointment) wishing to add on to their educational experience and in particular for the purpose of bringing new techniques back to their department.

During the year awards totalling £123,000 that had previously been accrued, but not taken, have been written back against expenditure.

The Mr M and Dr C Ionescu Travelling Fellowship for Consultant Surgeons

The Society has received a donation in order to fund £10,000 per annum for the annual Mr M and Dr C Ionescu travelling fellowships for consultant surgeons.

During the year awards totalling £10,000 that had previously been accrued, but not taken, have been written back against expenditure.

Risk Modelling

The Society has received a donation to undertake risk modelling to predict mortality outcome for high risk aortic valve implantation from the Society database. The outputs of the research will inform the development of a national evaluative process for the roll out of Transcatheter Aortic Valve Implantation (TAVI), an emerging alternative therapy for patients with severe symptomatic aortic stenosis who are at high risk from conventional surgical aortic valve replacement.

continued...

Page 27

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. MOVEMENT IN FUNDS - continued

Ethicon Trainee Scholarships

The Ethicon Trainee Scholarships offers individuals a scholarship with the purpose being to enable an individual to finesse surgical skills in a "Finishing School" scholarship over a targeted experience of six months.

Cardio Solutions Fellowship

An annual sum of £10,000 has been donated by Cardiosolutions in 2015/16 and 2016/17 to promote educational activity pertaining to mechanical circulatory support. The funding will be divided equally between the three National PeriCCT Transplant Fellowship post holders to be used during the 18 month tenure of their post. The funds may be used to attend designated courses, visits, and meetings.

During the year expenditure relating to this fund was found in previous year to have been posted to general funds. A transfer has been made to correct the carried forward fund balance.

BD Interventional Training Fund

The BD Interventional Training Grant was received to support educational training programmes.

Research and Clinical Trial Education Fund

The Research and Clinical Trial Education Fund offers individuals a scholarship with the provide the necessary grounding in research methodology and hands on-experience to develop future leaders of thoracic surgery clinical trials.

Ethicon Courses Fund

The Ethicon Courses Fund has been provided to support independent medical education.

Heart Research UK

The Heart Research UK Fund was received to support for fellowships in Audit and Paediatric Cardiac Surgery, fellowships in Academic Research, fellowship for Medical Students Travelling and fellowships for Patient Education and Awareness project.

Medtronic

The Medtronic Educational Grant has been provided to support Speciality Advisory Committee approved National Training Courses.

Michael Warburg SCTS Fellowship

The Michael Warburg ACT fund was received to support a visit to a centre specialising in aortovascular surgery and interventions, which may be in the UK, Ireland or elsewhere in the world. It is designed to enhance the experience of the applicant in preparation for a career as a Consultant Cardiothoracic Surgeon with a specialist interest in aortic surgery.

continued...

Page 28

THE SOCIETY FOR CARDIOTHORACIC SURGERY IN GREAT BRITAIN AND IRELAND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024

20. RELATED PARTY DISCLOSURES

During the year, the Society provided bookkeeping services totalling £nil (2023: £750) to Cardiac and Thoracic Surgery UK (CTSUK). £750 (2023: £750) was due to the Society at the year end for accounting services in 2023. Also, accounting fees paid by of the society of £3,694 (2023: £nil) were owed by CTSUK at the year end. CTSUK shares common administration, although all trustees are separate. The two charities shared a common trustee until 20 March 2023.

Page 29

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Thu, 8th May 2025 10:03:36 BST This envelope has been signed by all parties (20.162.227.186} Thu, 8th May 2025 10:03:36 BST Document emailed to matt.pickett@hwb-accountants.com (35.179.108.238)