REGISTERED COMPANY NUMBER: 05987719 (England and Wales) REGISTERED CHARITY NUMBER: 1117470 Re ort of the Trustees and Unaudlted Flnanclal Statements for the Year Ended 31 March 2025 THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY A COMPANY UMITED BY GUARANTEE Elsby & Co IS5 Wellingborough Road Rushden Northamptonshire NNIO 9TB
THE AssoaATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Contents of the Financlal Statements for the ear ended 31 MARCH 2025 Page Report of the Trustees Independent Examlner's Report Statement of Flnancial Artivltles Balance Sheet 10 to 11 Cash Flow Statement 12 Notes to the Cash Flow Statement 13 Notes to the Flnan¢lal Statements 14 to 20 Detailed Statement of Flnan¢lal Actlvftles 21
THE ASSOUATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Re ort of the Trustees forthe ear ended 31 MARCH 2025 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 31 March 2025. The trustees have adopted the provisions of Accounting and Reportin8 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 IFRS 1021 (effective l January 20191. OBJEcfivES AND ACTIVITIES Objertlves and alms The Association for Respiratory Technology and Physiology'5 objective5 and activities are to advance for the publlc benefit the service and practice of Respiratory and Sleep Physiology and allied subjerts by: al Delivering and promoting education and training pro8rammes to ensure competence to practice, b} Establishing relevant standards of practice, C) Promoting audit and research and by making the results of such study and research available to the przctitioners and the general public. d} Promoting advances in diagnostlc, treatment and care of patients with respiratory and sleep diseases, el Communicating with all stakeholders. fj Representing the interests of practitioners at all levels. The Association for Respiratory Technology & Physiology IARTPI, through standard5 of training and quality assurance, is the professional guardian of physiological measurement in respiratory and sleep medicine in the UK. With over 40 years of experien¢e in the design and delivery of respiratory physiology services, ARTP provides the only national professionally recognised qualificatlons In Respiratory Function Testin8 and Spirometry in the UK. The Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity,. ARTP also recommends standards for the design and delivery of respiratory physiology services through position papers from ARTP Working Groups on the strurture. funrtion and content of respiratory physiology and sleep facilities and services in the UK. An important function of the ARTP is the provision of opportunities for continuing professional development. The ARTP organise5 an annual Conference, meetings and other educational courses on many respiratory and sleep physiolo8y topics. This actlvSty delivers continuing professional development/education for healthcare professionals and healthcare support workers furthering ARTP'S charitable objectives of advancing knowledge and standards in the area of Respiratory & Sleep Phy5io108y for the benefit of both our members and their patients. Nationally, the ARTP informs and influences major organisations about the delivery of respiratory physiology services. Furthem)ore, the ARTP links with equivalent national organisations around the world to deliver global standards in respiratory healthcare Involving respiratory technology and physiology. The ARTP sets standards for and administers the National Spirometry Register. hosted by the Academy for Healthcare Science. The ARTP works in conjunction with the Britlsh Thoracic Society to produce national guidelines and standards for good pra¢ti¢e in the performance of respiratory measurement. It works closely with the Department of Health and Academy for Healthcare Science in formulating pollcy and in the strategic directlon of the profession. The ARTP hosts the multi-disclplinary Sleep Apnoea Consortium and now has a membership section for sleep practitioners. The ARTP is a founder member of the Association of Clinical Scientists organisation, the Institute of Physiological Sciences and the Federation of Healthcare Scientists. Page I
THE AssoaATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Re rt of the Trustees for the ear ended 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Charitable activitie5 The Trustees are delighted to report that the membership reached 1731 in 2024-202512023-2024: 990). This increase is largely reflected by new spirometry register re8lStrations being offered free membership for a year but also reflects an ongoing trend of Increased core membership figures to 1216 in 2024-2025 12023-2024.. 9901, This is a result of ongoing promotional efforts and raising awareness of the profile of the ARTP through high quality courses. conferences and qualiflcatlons. The ARTP'S Professional Qualifications allow respiratory practitioners to update their skills and knowledge. By undertaking professional competency qualifications practitioners are able to demonstrate their competencies enabling them to follow career pathways and take advantage of professional opportunities. The Charity now offers three levels of Professional Qualification: Practitioner (Level 31 Clinical (Level 21 Associate (Level 11 In 2024-2025 there were 100 candidates 12023-2024: 581 that enrolled onto the professional qualifications and undertook the professional examinations. Enrolments include: Professional Qualification Practitioner- 72 Professional Qualification Associate - 20 Professional Qualification Clinical 8 The ARTP provides several certificates of competence that allow individuals to demonstrate competency in specific respiratory or sleep techniques. These include the following certlficates along with the number of candidates enrolled in 2024-2025: - Overnight Pulse Oximetry- 15 candidates12023-2024: 28 candidates) - Ovèrnight and Polygraphy Practitioner- 9 candidate$12023-2024: 2 candidatesl Practical Blood gas Samplin8- 12 candidates12023-2024: 15 candidates) CPAP Associate Ilntroductoryl - 4 candidates12023-2024.. 8 candidates) - CPAP Practitioner IAdvancedl - 5 candidates12023-2024: 11 candidates) - CPAP Progression Ilntroductory to Advanced) - no candidates12023-2024: no candldatesl PQ Enrolments- no candidates12023-2024: 58 candidates) The Association for Respiratory Technology and Physiology is the holder of the Spirometry national register of individuals that have obtalned certification in Spirometry. Thls register reached 244412023-2024: 24781 certified practitioners over various levels in 2024-2025. Enrolment totals in 2024-2025 reached 74312023-24: 12581, comprised of the following certificate levels,. - Performing & Reporting IAdultl- 41512023-2024: 7651 Performing & Reporting IAdult & Paediatricl - 66 {2023-2024: 941 - Performing & Reporting IPaediatricl - 441202>2024: 351 - Performin8 (Adult) - 9912023-2024: 242) Performing (Adult & Paediatricl - 1312023-2024: 61 Performing IPaediatri¢l - 412023-2024.. 41 Reporting {Adult & Paediatricl - 2112023-2024: 71 Reporting {Adultl - 4112023-2024: 78} Reportlng IPaediatricl - 412023-2024.. 11 - Top Up (Paediatricl - 1812023-2024,. 231 - RertIfiCation Performing & Reporting (Adult) - 9 {2023-2024: 11 Recertification Performing (Adult) - 712023-2024: 1} Recertlfication Reporting (Adult) - 112023-2024: 1) Recertification Perforrning & Reporting (Adult & Paediatricl - 112023-2024: 01 Page 2
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Re ort of the TNstees for the ear ended 31 MARCH 2025 The ARTP Annual Meeting for 2025 took place at Scottish Event Campus, Glasgow. The programme consisted of 28 talks. 4 Oral presentations, 9 Industry workshops. sponsored by 7 manufacturers, and an exhibition and poster area. The ARTP Conference 2025 comprised of 316 registered delegates, 123 exhibitor personnel, 35 companies supported the meeting with exhibition or sponsorship (includin8 two charities and an ARTP Stand) and 350 attendees at the gala dinner. A total of 77 abstracts were submitted, with 53 poster presentations. The ARTP is very 5ati5fied that the breadth and depth, as well as the level of delegatelcandidatelregistrant en8a8ement with the educational programmes, registrations and professional examinations, detsiled above. meet our core charitable objective5 by advan¢ing continuing professional development, assessing professional competence and promoting and maintaining standard5 through registration and certification. FINANCIAL REVIEW Financial posltion The Board of Trustees is satisfied that the Charity's assets in each fund are available and adequate to fulfil its obligations. The Statement of Financial Artivities show income of £796.12212024: £579,116) and expenditure of £791,613 (2024: £468,741). This equates to a net surplus of £4,509 (2024: £110,375). The total funds at the year-end stand at £548,24512024: £543.7361. Unrestricted funds amounted to £546,970 {2024: £532,268). Restricted funds amounted to £1,27512024: £11,468). Investment pollcy and obJe¢tlves Any funds invested should not exceed the reserves policy unless held for a specific purpose. All funds Invested should be only be invested for 12 months or less. Reserves policy The Charity aims to retain suffi¢ient re5erve5 to cover its fixed and recurring annual expenditure and to ensure continuity of its core activities. This in¢ludes twelve months of administrative support contract Costs, the ARTP examinationlassessment fees, and website maintenance. The reserves level was previously set at £450,000 based on historic expenditure patterns. Following a review of current core running costs, the Trustees have calculated that required reserves should be between £345,OLh)-£410,000 including an estimate of the non-recoverable portion of committed costs for the annual conference. At the year end. the Charity held unrestricted reserve5 of £546,970, of which £126,138 anticipated as being requires for future year expenditure in areas other than those identified above. This leaves £420,832 as free unrestricted reserves. Free reserves were therefore £75,832 above the required minimum level. The Trustees recognise that while the Charity's income remains generally stable, there are early slgns of a contraction in some Streams. Maintainlng free reserves above the minimum level provides a financial buffer to manage any short-term fluctuatlons in income while continuing essential activities and commitments. As part of their forward planning, the Trustees will also undertake a strate8ic review to identify areas where surplus reserves can be invested to enhance the Charity's impact and strengthen operational capacity. Page 3
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Re ort of the Trustees for the ear ended 31 MARCH 2025 FINANCIAL REVIEW Going concern The Trustees have assessed the Charity's ability to continue as a going concern. At the year end, free reserves amounted to £420,832, which is £75,832 above the minimum level required to meet its core, committed expenditure for a full year. The overall level of expenditure increased during the year compared with the previou5 financial year (from £468,741 to £791,613), reflecting higher venue and administrative costs. absence of the annual conference in the previous financial year, partial expenditure of a one-off HEE 8rant, and oneff expenditure on website and database development. The Trustees are reviewing these cost increases and considering options to mana8e expenditure in future years. The Trustee5 have reviewed cash flow forecasts and note a slight contraction in certain income streams. While this is not expected to compromise the Charity's operational ability, the Trustees will continue to monitor trends closely and adjust expenditure plans as necessary. The existing reserves provide sufficient headroom to absorb moderate reductions in income while maintainlng core operations and fulfilling contractual obligation5. The Trustees have reviewed cash flow forecasts and are satisfied that the Charity has sufficient funds and expected income to meet its obligation5 a5 they fall due for the foreseeable future. Income is expected to continue from the Charity's principal sources assuming that: - Membership fees and volumes remain broadly consistent with previous years; Conference attendance remaSns In Ilne with historical trends. Demand for Educational Courses and Professional Examinations continues at or above current levels,. and - Spirometry registrations remain stable or increase modestly. On this basis. the Trustees consider that the ¢harity has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements and therefore continue to adopt the going concern basis of accounting. FUTURE PLANS Income and expenditure have both increased during the reporting period, primarily due to the relocation of the annual conference to a larger venue to accommodate rising attendance and interest in the event. In addition, the Charity has made a significant investment in the development of a new website, scheduled for launch later in 2025. This represents a one-off computer cost expenditure spread across the 2024-2025 and 2025-2026 financial years. The educatlon grant received from Health Education England {HEEI wlll be fully utilised within the next financial year to enhance the Charity's educational programme. This will include the development of educational videos and resources to support trainees, healthcare professionals. and patients. The Trustees also plan to convene in the coming year to explore opportunities for developing new educational initiatives that will further advance the Charity's aims. As part of this process, the Trustee5 will consider how best to deploy the free reseNes identified to 5UPPOrt this work, ensurin8 that any investment 15 5U5tainable, strategically aligned, and maximises benefit for the professional community and the public. The Trustees are satisfied with the current strategic direction of the Charity and remain committed to ensuring that its activities contlnue to align with its charitable objettives. The Trustees also recognlse the importance of continued engagement with the professional community the charity represents in order to ensure its work remains relevant and responsive to sector needs. Page 4
THE AssoaATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Re ort ot the Trustees for the ear ended 31 MARCH 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming 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. The Charity structure comprises of the Council of Trustees. who determine the strategic direction that the Charity should take and oversee5 the Executive Board. The Council members comprise of: - An elected President Four independent non*xecutive directors {Legal. Financlal. Workforce / Human Resources and a Patient Representative) Four Primary Executive Board members (Chair, Vice Chair, Treasurer and Secretary I The Executive Board is responslble for the operational aspects of Charity- The Executive Board comprises of four prlmary board members. and then Committee Chairs. which are responsible for specific areas of the ARTP business. ARTP is broken into seven key areas. each of which may cover several areas of operation. these committees are: Comrnunication - Workforce Spirometry Standards Education and Training Events Paediatrlcs - Sleep Page 5
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Re ort of the Trustees for the ear ended 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMEThrr Recrultment and appointment of new trusteès The Treasurer, Secretary & Vice Chair will be elected by a ballot of the full {votin81 membership of the ARTP in accordance with by-laws set by the ARTP Council from time to time. Officers will (unless the ARTP Council decide5 otherwise) serve for a term of 2 years from the end of the AGM at which they were appointed. A Trustee may be eligible for re-election. On completion of their term of office the Vice Chair will take over the Chair role. The Executive Board will nominate and the ARTP Council will appoint the President who will usually, if willing to stand, be the outgoing Chair. The Executive Board could also choose to nominate another individual from physiolo8ical/scientific background who they believe would be an appropriate representative of the ARTP. The President does not necessarily have to be a member of the ARTP prior to bein8 nominated. The ARTP Council shall be entitled to appoint up to 4 Trustees to fulfil such skills criteria as the ARTP Councll shall consider necessary from time to time. The Executive Board shall assist the ARTP Council in recruiting such Trustees. The term of office for such Trustees shall be 2 years. At the conclusion of hi5 term of office a Trustee who is willing to continue in office may, if the ARTP Councils thinks fit, be re-appointed for a further term. The ARTP Councll may from time to time Copt a person to serve as a member of the ARTP Council, either to fill casual vacancy or to replace a retiring or disqualified Trustee, A Trustee so appointed shall retain his office only until the next Annual General Meetln& but he shall be eligible for re-election or re-appointment. Support Services A variety of support services are in place to support the work of the ARTP and its administration. Central support servites (secretariat. membership and flnancièlj is provided by Executive Business Services IEBSI. EBS are also contracted to administer the Spirometry Register. Policies and procedures for induction and trainin8 of trustees include the following: ARTP Articles of Association - ARTP Code of Conduct Declaration of Interests Indurtion and training of new trustees Trustees must be electedlappointed as detailed above and be aware of the role, duties and commitment required prior to undertaking the role. Individuals who have been elected to Trustee posts are required to make a declaration of interests and an undertaking of commitment a5 a Trustee to the ARTP. They are required to submit a Trustee declaration form to the Charity Commission and complete the process for appointment as an ARTP director by successful submission of an APOI form to Company House. All Trustee5 receive the Memorandum and Articles of Association, and the Association uses the extensive Information on the Charity Commission website to support the induction and training of Trustees. In particular, all Twstees are directed to read the Charity Commission guidance - the essential trustee: what you need to know ICC3}. The previous Trustee. with specific roles/ holdlng specific titles. such as Treasurer. are asked to stay as a past Trustee, to support the newly elected individual in their transition. REFERENCE AND ADMINISTRATIVE DETAILS Re8iStered Company number 05987719 (England and Wales) RegIsted Charity number 1117470 Page 6
THE CIATION FOR RESPIRA TECHPIOLOGY AND PIIYSIOLOGY .' Re ort of ttTrUStees for the ear ended 31 MAR Re8tste. r¢d c/0 Executtv Stowe House SLChad's Uthfleld staffordshlre sts srj Busi Support Trustees R J Harwood J Cooper Ires M R Hubboc K Hutchinson MHLan8 J Shakespea ned 25 4.24) 25.4.241 M A Rutter B h Batten (a AZDay (app R J Glover (a dRes poin Inted I polnted ratory Physiologist (appolnted 25.4:241- 11.1024) .10.241 .1.25) etary S M McArthu. 'Independe Elsby & Co SS Welllngb Rushden Northaiiipt NN109TB Examin oad shire Approved bv rder of e board of trustees oh..... . and s18ned on its behalf by. Gloyer- T stee Pag¢ 7
Inde endent Examlner's Re rt to the Trustees of The Assoclatlon for Res irator Technolo and Ph slolo Independent examlner's report to the trustees of The Assoclatlon for Re4>lratory Technology and Physlolo8y ('the CompanVI I report to the charitytrustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myselfthat the accounts ofthe Company are not required to be audited under Part 16 ofthe 26 Att and are eli8ible for independent examination, I report in resped of my examination of your charity's accounts as arried out under Section 145 of the Charities Act 2011 {'the 2011 Act'l. In Carrying out my examination I have followed the Directions given by the Charlty Commission under Section 14515) Ibl of the 2011 Act. Independent examlner's statement Since your charity's 8r055 income exceeded £250,OIKI your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act: or the accounts do not accord with those records- or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by charities lapplic3ble to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. LYL Leona Bateman ACA Elsby & Co 155 Wellingborou8h Road Ru5hden Northamptonshire NNIO 9TB 22 December 2025 Page 8
ThE AssoaATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Statement of Financlal Actlvhles oratin an Income and Ex endlture Account for the ear ended 31 MARCH 2025 Incor 2025 Total funds 2024 Total funds Unrestricted fund Restrirted funds Notes INCOME AND ENDOWMENTS FROM Donation5 and legacies Charitable activities Conference and education 439.357 439,357 318,833 Other trading attivities Investment income 351.382 2,383 351.382 2,383 255.085 2,198 Total 793,122 796.122 579,116 EXPENDITURE ON Charitsble actlvltles Conference and education 778,420 13,193 791,613 468,741 NET INCOMEI(EXPENDITUREI 14,702 110,1931 4,509 110,375 RECONCIUATION OF FUNDS Total funds brought forward 532,268 11.468 543,736 433.361 TOTAL FUNDS CARRIED FORWARD 546,970 1,275 548,245 543.736 The notes form part of these financial statements Pa8e 9
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIQLQGY REGisfERED NUMBER: 05987719 Balance Sheet 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted funds Notes CURRENT ASSErs Stocks Debtors Cash at bank li 12 13,265 283,878 622.856 13,265 283,878 624.131 7.180 323,899 600,628 1,275 919,999 1,275 921,274 931,707 CREDITORS Amounts falling due within one year 13 (373.0291 {373,029) 1387,9711 NET CURRENT ASSETS 546,970 1,275 548,245 543,736 TOTAL ASSEfs LESS CURRENT LIABILITIES 546,970 1,275 548.245 543.736 ASSErs 546,970 1,275 548.245 543,736 FUNDS Unrestricted funds Restrirted funds 14 546.970 1,275 532,268 11,468 TOTAL FUNDS 548,245 543,736 The charitable company is entitled to exemption from audit under Section 477 of the Companles Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the CompaniesAtt 2006. The trustees acknowledge their responsibilities for la) ensurlng that the charitable company keeps accountlng records that comply wlth Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these fin3ncial statements Page 10 continued...
THE AS%)C AND PHY ATION FOR RESPIIIATORY EGISTERED TECHNO Balanc• Sh@et- contlnue 31MA CH 202 These finandal statements have been prepared In accordance Tth the provlslons appllcable to charltsble companies subject to the *nall companles reglme. The financial statements were approved by the Board of Trustees and authorlsed for Issue on %%..l.Lk.l..ZS................ and were signed on its behalf by: J Glover- Trustee The notss form part of these flnanclal statements Pa8e 11
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Cash Flow Staternent ar ended 31 MARCH 2025 for the 2025 2024 Notes Cash flows from operating activities Cash 8enerated from operations 21.120 248,415 Net cash provided by operating activities 21.120 248.415 Cash flow5 from Investlng actlvltles Interest received 2,383 2,198 Net cash provided by investing activities 2,383 2,198 Change In cash and cash equivalents in the reportlng period Cash and cash equivalents at the beginnlng of the reportlng period 23,503 250,613 6(Ki.628 350.015 Cash and cash equivalents at the end of the reporting perlod 624,131 600.628 The notes form part of these financial ststements Page 12
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Notes to the Cash Flow Statement for the ear ended 31 MARCH 2025 RECONCIUATION OF NET INCOME TO NEf CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net Income for the reporting period (as per the Statement of Flnanclal Attlvities) Adlustments for: Interest received Increase in stocks Decreasellincreasel in debtors {Decreasel/increase in creditors 4,509 110,375 12.3831 16,0851 40,021 114,9421 12.1981 15,723} 1177.909} 323,870 Net cash provided by operations 21,120 248.415 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank 600,628 23,503 624,131 600,628 23,503 624,131 Total 600,628 23,503 624.131 The note5 form part of these financial statements Page 13
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Notes to the Flnanclal Statements forthe ear ended 31 MARCH 2025 ACCOUNTING POLICIES Basls of preparln8 the financial statements The flnancial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared In accordance with the Charities SORP IFRS 102} 'Accountin8 and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Art 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Artivities 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 a5 there is a legal or constructive obligation committing the charity to that expendlture. It Ss 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 direttly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Charltable activities Costs of charitable activities comprise all costs incurred In the pursuit of the charitable objects of the charity. These costs. where not wholly attributsble, are apportioned between the cate8ories of charitable expenditure in addition to the direct costs. Allocation and apportlonment of ¢osts Costs are allocated between restricted and unrestricted funds based on what the costs are relating to. Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost Includes all Costs of purchase, costs of conversion and other costs incurred Sn bringing stock to its present locatlon and condition. Taxatlon The charity is exempt from corporatlon tax on its charitable actlvlties. Fund accounting Unrestricted fund5 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 Wlthin the objects of the charity. Restrirtions arise when specified by the donor or when funds are raised for particular restricted purposes. Details of specific fund accountin8 is set out in note 14. Page 14 continued...
THE AssoaATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Notes to the Financial Statements- continued for the ear ended 31 MARCH 2025 DONATIONS AND LEGACIES 2025 2024 Donations 3,000 OTHER TRADING AcnviTIES 2025 2024 Courses Memberships 253,015 98,367 200.190 54,895 351,382 255,085 INVESTMENT INCOME 2025 2024 Bank interest receivable 2,383 2.198 INCOME FROM CHARITABLE ACTIVITIES 2025 Conference and education 2024 Total activities Sale5 of goods and services 439,357 318.833 CHARITABLE AcfiviTIES COSTS Direct Costs (see note 71 Support costs (see note 81 Tota15 Conference and education 404,867 386,746 791,613 Page 15 continued...
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOIOGY Notes to the Flnanclal Statements- contlnued for the ear ended 31 MARCH 2025 DIRECT COSTS OF CHARITABLE AcrnimES 2025 2024 Cost of charitable activities Venue costs Travel and hotels 105,592 161,978 137,297 64,751 44,500 12,905 404,867 122,156 SUPPORT Cosrs Governance ¢osts Management Finance Totals Conference and education 323.906 21.303 41,537 386,746 Support cost5. included in the above, are as follows: Management 2025 2024 Conference and educatlon Total activities Secretarial support costs Computer costs Postage and stationery 262,269 57,068 4,569 244,007 27,553 15,312 323,906 286,872 Finance 2025 Conference and education 2024 Total activities Bank charges 21,303 13.952 Governance costs 2025 Conference and education 2024 Total activities Sundrie5 Independent examination fees Professional fees 46 6,085 35,406 7,936 37,825 41,537 45.761 Page 16 continued...
THE AssoaATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Notes to the Flnanclal Statements- continued for the ear ended 31 MARCH 2025 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACrnIITIES Unrestricted fund Restrirted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 3,000 3.000 Charltable artlvltles Conference and education 318,833 318,833 Other trading activities Investment income 255,085 2,198 255,085 2,198 Total 576,116 3,000 579,116 EXPENDITURE ON Charitable actlvities Conference and education 468.741 468,741 NET INCOME 107,375 3,000 110.375 RECONCILIATION OF FUNDS Total funds brought forward 424,893 8,468 433,361 TOTAL FUNDS CARRIED FORWARD 532,268 11,468 543,736 Page 17 continued...
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Notes to the Financial Statements- continued for the ear ended 31 MARCH 2025 ii. STOCKS 2025 2024 Stocks 13,265 7.180 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Prepayments and accrued income 150,855 133,023 148,259 175,640 283,878 323.899 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Deferred income 2025 2024 Deferred income at l April 2024 Resources deferred during the year Amounts released from prior year 270,610 305,544 1270,610) 21,610 270,610 121.6101 Deferred Income at 31 March 2025 305,544 270,610 Deferred income relates to income received in the year specifically relating to performance conditions to be met in the following year. 14. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestrlrted funds General fund 532,268 14.702 546,970 Restricted funds Educational Bursary Lyn Davies 10,193 1,275 110,193) 1,275 11,468 110,193) 1,275 TOTAL FUNDS 543,736 4,509 548.245 Page 18 continued...
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Notes to the Financial Statements- continued for the ear ended 31 MARCH 2025 14. MOVEMENT IN FUNDS- contlnued Net movement in funds, included in the above are as follows: Incoming resource? Resources expended Movement in funds Unrestrlrted funds General fund 793,122 1778,420) 14,702 Restricted funds Educational Bursary 3,000 {13,1931 110,193} TOTAL FUNDS 796.122 {791,613) 4,509 Comparatlves for movement In funds Net movement in funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fvnd 424,893 107.375 532.268 Restrlrted funds Educational Bursary Lyn Davies 7,193 1,275 3,000 10,193 1.275 8,468 3.000 11.468 TOTAL FUNDS 433.361 110,375 543,736 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlrted funds General fund 576,116 1468.7411 107,375 Restrlcted funds Educational Bursary 3,(KlO 3,000 TOTAL FUNDS 579.116 1468,741) 110,375 Education grant The Charity recelves an annual grant which is restricted for use towards the support of individuals. The grant 15 fully utilised each year to fund qualifying expendÈture in accordance with the terms of the restriction, Page 19 continued...
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Notes to the Nnanclal Statements- contlnued for the ear ended 31 MARCH 2025 14. MOVEMENT IN FUNDS- continued In previous year5, the grant income was not offset against the corresponding expenditure in the financial statements. During the current year. this has been reviewed and correrted to ensure that the restricted grant income and the related expenditure are properly matched. The adjustment has been reflected in the Current year's account5 to present the use of restricted funds more accurately. This correction has no impact on the total funds of the Charity but improves the presentation and transparency of restricted fund movements. 15. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025 nor for the year ended 31 March 2024. Page 20
THE ASSOCIATION FOR RESPIRATORY TECHNOLOGY AND PHYSIOLOGY Detailed Statement of Financial Activities for the ar ended 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS Donations and lega¢les Donations 3,000 3,OIXI Other trading activities Courses Memberships 253,015 98,367 200,190 54,895 351,382 255.085 Investment income Bank interest receivable 2,383 2,198 Charitable activities Sales of good5 and services 439,357 318.833 Total incomlng resources 796,122 579,116 EXPENDITURE Charltable artlvtties Cost of charitable a¢tlvities Venue costs Travel and hotels 105,592 161,978 137,297 64,751 44.500 12,905 404,867 122,156 Support costs Management Secretarial support Costs Computer costs Postage and stationery 262.269 57.068 4.569 244,007 27,553 15,312 323,906 286.872 Finance Bank charges 21,303 13,952 Governance costs Sundries Independent examination fees Professional fees 46 6.085 35.406 7.936 37,825 41.537 45,761 Total resources expended 791,613 468,741 Net income 4,509 110,375 This page does not form part of the statutory financial statements Page 21