Company Registration Number: 60210831En8land and Wales) Charity registration number- 1118829 INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES la company Ilmlted by guarantee) REPORT OFTHE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 'ADiUY68Q' 2711212024 COMPANIES HOUSE A8
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Registered Address: 54A Castle Road. Isleworth. Middlesex. TW7 6QS
CONTENTS PAGE REPORT OF THE TRUSTEES STATEMENT OF THE TRUSTEES, RESPONSIBILITIES 12 INDEPENDENT AUDITOR'S REPORT 14 STATEMENT OF FINANCIAL ACTIVITIES 19 BALANCE SHEET 20 STATEMENT OF CASH FLOWS 21 NOTES TO THE FINANCIAL STATEMENTS 22
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also directors of the charitable company for the purposes of the Companies Act 2006, present their report and financial statements of the charitable company for the year to 31st March 2024 and confirm they comply with the requirements of the Companies Act 2006, Charities Act 2011 and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland (Charities SORP IFRS 1021). REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number: 6021083 (England and Wales). Reglstered Charlty number: 1118829 Re81stered offlce: 54A Castle Road, Isleworth, LONDON TW7 6QS TRUSTEES IN THE PERIOD APRIL 2023 TO MARCH 2024 AND UP TO THE DATE OF SIGNING OF THESE ACCOUNTS: Rebbeca COX, Deputy Chair Alan HAY. Treasurer {ex-officio} Frederlck G HAYDEN, Deputy Chalr (appointed 11 January 2024) Jackie KATZ (resigned 26 October 2023) Ultan POWER, Deputy Chair (oppointed I l January 2024) John M Wood (resigned 26 October 2023) Marla ZAMBON, Cha5r
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Document The charitable company is governed by its Memorandum and Articles of Association of 6 December 2006 as amended by the special resolution dated 14 February 2007 and the amendments of Articles dated 5 September 2010, 11 September 2017, 6 September 2018, 29 August 2019 and 11 November 2020. Recruitment and Appolntment of New Trustees According to the Articles of Association of the charitable company, the number of trustees shall be not less than five. After each AGM one-third of the trustees who are subject to retirement by rotation shall retire from office, although they can be re-appolnted. The trustees may appoint a person who is willing to act to be a trustee either to fill a vacancy or as an additional trustee for specific purposes agreed by the Council. With the intention of achieving both a full global balance and representation of researchers at all career stage5 on the Council, each year there is a call for new members that are not represented. Annual General Meeting The 17th AGM was held via video call on 26 October 2023. During the meeting Rebecca Cox {Norwavl, Maria Zambon IUKI, Sook-san Wong (Hong Kongl, Nelson Lee {Canadal, John Mccauley IUKI, Jude Jayamaha (Sri Lankal and Norio Sugaya {Japan} were re-appointed to Council, and Erik Karlsson {Cambodial and Ultan Power (Northern Ireland, UK) were appointed as new members of Council. Formal thanks for many years, service were given to Jackie Katz {USAI and John Wood IUKI who completed their terms as Trustees at the AGM. Governance Ih The Society's Articles of Association were amended followlng the 14 AGM In 2020, During the period covered by this annual report, the society operated following a cadence of meeting5 involvin8 the Trustees, the Executive Committee and Council. The Executive Committee is comprised of the Directors and Trustees of the Society, and the Chairs of the Societvs Special Interest groups. Council is comprised of the Executive Committee and members of Council elected by the ISIRV membership. Durin8 the year the Trustees have been Involved in extensive discussions regarding the operational structure of the Society, assurance and compllance processes. Followin8 a strategy away day in Valencia in September 2023. the bu51ness of the Executive Committee has focused on the operational, financial and strategic direction of the Society. The business of the Council has been reviewed and revised as part of the ISIRV strategy for 2024-2026 and the delivery of activitie5 underpinning the strategy. Objectives and Aims The objects of the charitable company are the relief of slckness and the preservation and protection of health by promoting the prevention, detection, treatment and control of influenza and other respiratory virus diseases throughout the world. The aims of the charitable companyare generally achieved by the sharing of information and stimulating interaction between researchers and others regarding influenza and other respiratory virus disease5 through a scientific journal. a website, and scientific conferences including the Society's flagship congress, Options for the Control of Influen2a, and a variety of other Special Interest Group1SIGI conferences and activities dependent on specialist knowledge. In recent years the Society has developed an increasing
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 breadth of focus, with the School of Influenza being expanded to include other respiratory viruses, event planning for International Meetings on Respiratory Pathogens IIMRPI and the inclusion prominence of the International Respiratory Syncytial Virus Society IIRSVS) as a SIG with RSV conferences planned every 2 years. A rolling programme of events is essential to meeting the 5ocietrfs objectives. whereby scientists and clinicians can share the latest research and clinical applications in the treatment and prevention of influenza and other respiratory virus diseases and to raise awareness amon8 policy-makers. Another of ISIRV'S charitable aims is to provide financial support to enable early career scientists and scientists from developing countries to attend ISIRV meetings and other respiratory virus-related conferences, who otherwise tould not afford to do so. The Society continues to look at ways to intrease this type of support, including recognition awards for early career scientists and setting up designated funds for this purpose. During September 2023, Council attention was given to revising our S-year strategic plan for the Society to include the elements discussed above. help guide the development and growth of the Society and provide a focus for prioritisation of activities over the next 3 years. Partnership development and collaboration with other professional societies and groups was considered an important area to develop further and is reflected in some of the activities over the course of 2023124. Virtual educational webinars. currently 6 per year, are now firmly part of ISIRV'S future operating model, noting that hybrid solutions may reach a more diverse audience than before. Publlc benefit Statement ISIRV'S charitable purposes are to facllltate the relief of sickness and the preservation of health bv promoting the prevention. detection, treatment and control of Inf luenza and other respiratory virus diseases throughout the world. From April 2023 to March 2024 the Society has carried out its objectives bv convening conferences and schools, hosting webinars free to all, and the publication of its society journal Influen20 ond Other Respirotory Viruses, alongside the provision of grants and bursaries for attendance at ISIRV events. The Trustees of ISIRV confirm they have given regard to the Charity Commission's public benefit guidance when planning its activities and when preparing this report. Overvlew of April 202>March 2024 8etween Aprll 2023 and March 2024, In a return to normality post pandemic, influenza and other respiratory virus actlvlty fluctuated globally, with seasonal outbreaks returning towards pre-pandemic levels. Regions in the Northern Hemisphere, particularly North America and Europe. experienced typical influenza seasons, now with co-circulation of SARS Cov-2 which has become another circulating respiratory virus, endemic in the human population, putting additional strain on healthcare systems. In the Southern Hemisphere. influenza cases were comparable to previous years. New seasonal and zoonotic influenza strains also emerged,avian HSNI influenza virus has caused massive mortality among poultry and in some species of wild birds and marine mammals across the globe. One strain (83.13) of avian influenza clade 2.3.4.4b has spread widely in dairy cattle in the USA with associated spillover human infections, posing an unanticipated threat to human and veterinary sector, once again emphasisin8 the ever present pandemic threat posed by influenza A. Overall, 2023-2024 emphasized the need for ongoing surveillance, Improved glob31 vaccination coverage, and adaptable public health strategies to manage respiratory viruses, especially in vulnerable populations. Efforts are now focused on strengthening pandemic preparedness and seasonal vaccination campaigns worldwide. noting the necessity for vaccine updates for SARS-CoV-2 as an addition to the global public health agenda. All of these natural events, and consequent impacts on scientific work, healthcare and human societies shape the activities and direction of the society
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Events April 2023-March 2024 As we entered the period of this report, we left behind the tumultuous years of the COVID-19 pandemic following WHO'S declaration on S May 2023 that the global health emer8ency was over. This created the opportunity for reflection and celebration of scientific developments and contributions from ISIRV members via a return to face to face and hybrid events. Advancing Respiratory Virus Therapeutics: Lessons Learned from cov119 th The 7 AVG Conference Antiviral was hosted by the AVG ISIRV SIG In May 2023 In Seattle, USA. The event was a resounding success (attracting almost 200 attendees) and brought tO8ether local US expertise and 81obal perspectives on advantes in the development of antiviral and other therapeutics for respiratory virus infections and the therapeutics to reflect on the lessons from the pandemic. Topics included Iprelcllnlcal development, utilisation of existing therapeutics, regulation for new drugs, surveillance including antiviral resistance, sequencing, and implementation. The event culminated with a very lively discussion around scientific misinformation and how this can be handled. Three domestic and two International travel grants were awarded. Weblnar serles Andres Pizzorno from the International Center for Research in Infectious Diseases in Lyon, France, has overseen the ISIRV webinar series since 2022. Durlng the year the following webinars took place: The resent and future of treatment-oriented surveill nce- Jun 202 Winter lannin and influenza with the Healthcare Infection Societ Se tember 2023 Challen e5 and romise of clinical trials for res irato antivirals - Ortober 2023 RSV vaccination in the elderl ulation - Janua 2024 Emer Influenza threats and the human-animal interface- March 2024 The webinar series, whlch Is freely available, was attended cumulatlvely by several thousand resplratory virus scientists from across the globe. Recordings are available on demand via the links above. Organlsatlonal Strategy In July 2023 the Society engaged a consultant to work with the Executive Committee and Council to review and strengthen the Society's governance structure and processes. and to work with the Executive Committee and Council to review exi51tin8 Strate8V. During a focussed strategy away day session in Valencia in September 2023. it was agreed: l. The mission of society remained constant: ISIRV should maintain independence and scientific excellence The scope needs to broaden to give emphasis to other respiratory viruses A minor name change for the Society will be proposed
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 2. We anticipate growth of the Society.. Which required urgent investment in society infrastructure and business support Greater support for the financial management 3. We need plans for governance, leadership renewal and support of SIGS 4. There need5 to be 5eriou5 investment to enhance visibility and communications capabilitv Following the September meetin8, the Society began to deliver its revised strategy in earnest, and has enga8ed two consultants to strengthen its finance and communications operations. Journal: Influenza and Other Resplratory Vlruses Influenza and Other Respirotory Viruses IIORVI, the official journal of ISIRV, is an Open Access journal. It 15 the first journal to specialise exclusively on influenza and other respiratory viruses and strives to play a key role in the dissemination of information in this broad and challenging field. It is aimed at laboratory and clinical scientists, public health professionals, and others around the world involved in a broad range of activities in this field. The journal is wholly owned and published by Wiley and provides a modest royalty stream to the Society. The journal has seen a steady rise In Impact factor Since 2016 to a high of 5.6112021 Impact Factor). As anticipated, the 2023 Impact Factor (released in July 20241 fell slightly from 4.4 to 4.3 as the publlcatlons relating to COVID-19 dropped out of the citation window timeframe. The Editorial 8oard is comprised of 30 international editors, Dr Ben Cowling as Editor-in- Chief and Senior Editors Drs Alan Hampson, Rebecca Cox and Calum Semple who facilitated the publication of 138 articles during 202312022..1201. The total number of submissions in 2023 increased (30.4%} compared with 2022. This compares with an increase 18.5%) across all Wiley journals in the Infectious Disease and Microbiology subject area. Desplte the sli8ht decrease in the 2023 Impact Factor, the journal rankings have improved to 11/41 in Virology {Q21 and 261132 in Infectious Diseases (Qll - up from Virology 17/36 {20221 and Infectious Diseases 4019612022). Partnershlps One of the area5 of development for the society, hlghlighted In Its 5-year strate8ic plan, are the opportunities afforded by partnerships wlth other professional sclentlflc organisations and societies with similar interests. Progress has been made in this area through the partnership with European Societ for Clinical Microbiology and InfectlQUs Di5ea5es IESCMIDI and hosting of focused ISIRV symposia in the huge ECCMID annual conference during April 2023 in Copenhagen and in ESCMID Global in April 2024 In Barcelona. In addition, during the year ISIRV also ran a joint webinar on the tDPiC of Infection Prevention and Control IIPC) challenge5 and solutions webinar - Winter planning and influenza with the Healthcare Infection Society. A mini isirv symposium on the topic of genomic surveillance was hosted at ESWI meetin8 in Valencia October 2023. Ourin8 2023, ISIRV took part in discussions with R VINET in order to establish a shared set of principles for the forward planning of scheduling for major international RSV meetlngs hosted by ISIRV and the Internatlonal Respiratory Syncytial Virus Society liRSVs, a special interest group of ISIRV} and ReSViNET. It was agreed that the organisations would run their respective meetings focused on RSV during alternate years. Both organisations agreed there was a mutual benefit to be gained from such an agreement to benefit our shared scientific communities. ISIRV will continue to partner with BMGF to support delegates from low-and middle-income countries to attend
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 the Options Xll conference and other ISIRV meeting5, including RSV2025. Future Plans ISIRV activitles. collaborations and future strategy The Society has a full calendar of events planned for the next 5 years, with the intention to move forward with the development of ISIRV'S infrastructure to support excellent meetings and conferences. th 5 Internatlonal Symposlum on Neglerted Influenza Vlruses Ih Durin8 8-10 April 2024. the 5 International Symposium on Neglected Influenza Viruses will take place In Lexin8ton USA and include sesslons focused on Clinical and Experimental Vlrology, Emer8in8 Issues and New Developments, Surveillance and Disease Investl8ation and Virus Transmission and Control. In view of ISIRWS commitment to encouraging the attendance of early career scientists, early career researcher travel awards will continue to be made available. ISIRV Weblnar serfes Buildin8 on the success of the webinars that have already taken place In 2024, several further webinars wlll take place focused on "hot topics" World Influenza Conference IWIC) 2024 The World Influenza Conference 2024, will be held in Boao, Hainan, China, in Julyi focused on"Inte8rated Prevention and Control From Influenza to Respiratory Infectious diseases." The meeting will be jointly organised by the Chinese Society for Preventative Medicine, Asia Pacific Alliance Combatin8 Influenza IAPACI), ESWI and ISIRV The event will gather experts. to discuss global challen8es in respiratory disease prevention, vaccine development, and internatlonal cooperation. Optlons Xll tions Xll in Brisbane, Australla wlll be held between 29 September-2 October 2024. The prestiglous event will continue to build on the success of its predecessors with a 4-day format to deliver a strong scientific programme with four parallel tracks, addressing a full range of 'real-world' issues relevant to the 'flu communlty, plus additional spotlights on the latest research on SARS-CoV-2 and RSV. Ih Schools of Influenza As part of Options Xll 2024, ISIRV wlll hold a one-day mini school of respiratory vlruses on 28 September, This educatlonal event will be aimed at graduate students and young scientists who are starting. or in the early stages of a career in influenza, public health, surveillance. research or product development and will provide comprehensive preparatory background to maximise understanding at the conference as well as opportunity for networking and meeting some of the Options invited speakers. The Soclety has several collaborative partnerships whlch it intends to develop and enhance, in partlcular with NGOS IWHOI and funders Includlng the Bill and Melinda Gates Foundation who are committed to support low- and middle-income countries. and Flu Lab who funds and advances innovative solutions to influenza challenges.
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Planning for a full School of Influenza at Qatar University is underway for January 2025. 13 International RSV Symposium (R5V2025) This Symposium, taking place in 18uazu Falls, Brazil, 12 - 15 March 2025 will build on the success of RSV2022. There will be the opportunity to submit abstracts for a number of oral presentations in each session as well as poster presentations. IMRP, Singapore 2025 We are excited to be hosting the 3, International Meeting on Respiratory Pathogens in Singapore in September 2025, targeted broadly at respiratory viruses with possible focus on diagnostics and genomics analysis. Options Xlll Conference, Washington D.C.. USA Plannin8 for the 2026 Options conference is underway and is set to take place in Washington D.C. in September. Calls for interest in hosting Options 2028 and RSV 2029 will be made in early 2025. Areas of focus In addition to our events portfolio. plans are being made to strengthenlfocus on.. Further developing the operating infrastructure of ISIRV Strengthening 8overnance arrangements, including the management of risk, creation and adoption of new Articles of Association and terms of reference for SIGS, the Scientific Meetin8s Committee and newly-formed Education Committee Developing the ISIRV website, with a refresh of the Society's Vlsual identity accompanying the proposed name change Financial planning for planned expendlture and a review of the Society's investment policv Succession planning for. and maximizing input from Council members Increasing the global and career-stage diversity of Council Forward planning for events in beyond 2025 Recruitment of a new Editor-in-chief for IORV & strengthening the link between the journal and societv activities Financial Revlew th This fiscal period began with the 7 AVG meeting in Seattle, In May 2023. The year proceeding was a quieter year for the society in terms of events hosted, as it sat between years which host the ISIR V's headline events. Nevertheless. the society was busy and focused on planning for the next events on the th horizon incuding the 5 NIV Symposium in Kentucky. USA. hosted in April 2024. as well as the next Options conference in Brisbane. in September 2024. Because the large biennial meetlngs Ioptlons and RSVI did not take place during the year, income from charitable activities reduced in comparison to the previous year and totalled £225.362 [2023.. £1,743,712]. Thi5 income was largely was driven by conference registration fees and sponsorship income from the 7 AVG meeting. Membership income for the year was £14,96012023.' £111,308]. and this reductlon In fees can be attributed to the year ended 31 March 2024 being a non-options year. ISIRV is committed to developing its membership strategy to ensure there are clear membership benefits. The Council remains committed to attracting new member5 to the Society and will continue to review membership benefits as part of the Society's 5-year Strategic Plan.
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Royalty receipts from operation of the IORVJournal increased during the period to £42.615. an increase of over 30% on the previous year12023: £32,601). The increase in royalties wa5 largely due to an ongoin8 rise in the submission and acceptance of hi8h-quality general research. The unrealised gain from investments of £16,55112023: £30,50410s5] help5 to fortify the Societrfs investment balances and is reassuring in comparison with the devaluation in the previous year. The reduction in income from registration fees as explained by FYE being a non-options and RSV meetin8 year mean that the Society realised a financial deficit of £116,684 for the year. Thls deflcit was anticipated because of ISIR V's ongoing commitment to SUPPOrting the delivery of its charitable activities. Despite the overall deficit of £116.684 for the year, the Trustees are pleased to report that funds carried forward at the end of the period remain healthy at £1,891,52312023.' £2,008,207]. Investments The continuation of the war in Ukraine coupled with political tensions in the Middle East and other reglons worldwide has resulted in market uncertainty. With Increases in inf lation, the economic backdrop remains difficult, but Increasing interest rates has improved the prospect of investing in high-yield fixed interest bonds. However, the Society recognises that the portfolio of stocks and shares are long term investments and any short-term market volatility will be dampened by the longer term outlook. The overall position is reviewed on a regular basis and the performance of individual shareholdings is monitored, but a balanced view of the overall portfolio is taken and expectations of grovrth in the short- term are modest. For 2023124, dividend income is recorded as £24,89412023', £21,564). The portfollo of stocks and shares was valued at £547,134 set against a cost of £673,775 and, as reported above. an unrealised gain of £16,55112023: £30,50410551 has been recognised in these accounts. Reserves Policy The Society's designated reserves balance Is £675,000. This is the equivalent of at least 2 years, operatlng expenditure and can be used to underwrlte the Soclevs flagshlp conference, OPTIONS for the Control of Influenza, a meeting at the heart of the SocietTrls mi$5ion. The frequency of thi5 conference has been changed from every three year5 to every two years. and this factor will challenge financial resources and cashflow management significantly. The biennial conference life cycle of the OPTIONS meeting is planned to be matched by the International RSV Symposium which has seen unprecedented growth in attendance. The impact of these chan8es will be fully assessed at the annual review and it is anticipated that an increase in the reserves balance will be required in the coming year to ensure sustainability. Flnanclal Posltlon Despite the challenges of recent years. the Society continue5 to grow in resilience. For this period, funds carried forward are £1,891,52312023: £2,008,207]. This provides confidence in forward planning and exploring ways of expanding the educational portfolio of the Society. Considerable investment has been made and will continue to be made in ensuring the right talent, resources and infrastructure are secured to support the 50cieVs charitable grovrth in the coming years. Society reserves are strong and general funds will underwrite the ISIRV Programme 2025126, as we look forward th to an impressive line up of global events, which includes Options Xll (Brisbane, Australia), the 13 Internatlonal 10
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 RSV Symposium Ilguazu Falls, Brazil), the International Meeting on Respiratory Pathogens (Singapore), Correlate5 of Protection Ivienna. Austrial, Neglected Influenza Virus Meeting (Cambodial, and Options Xlll (USA). Going forward, the Trustees will remain vigilant to the change5 that can impact the work of the Society. The ongolng Russia/Ukraine war and the unfolding crisis in the Middle East together with the economic conditions of the global economy will continue to challenge both investments and event planning.
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES STATEMENT OF TRUSTEE'S RESPONSIBILITIES The trustees (who are also directors of the International Society for Influenza and Other Respiratory Viru5 Diseases for the purposes of company law} are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which 8ive a true and fair view of the State of affairs of the charitable company and of the incoming resources and applicatlon of resources. including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to: select suitable accountln8 policles and then apply them consistently. observe the methods and principles in the Charities SORP,. makejudgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to anv material departure5 disc105ed and explained in the financial statements- prepare the financial statements on the 8oin8 concern basis unless It is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. Each of the trustees has confirmed that so far as they are aware, there is no relevant audit information las defined by section 418 of the Companies Act) of which the charitable company's auditor is unaware and that they have taken all the required steps as trustees to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Audltor Appolntment Following a review of our audit requirements. we have decided to seek a new auditor to support our financial oversight. The process to identify and appoint a sultable firm is underway, and we will provide an update once the appointment has been finalised. We thank our current auditors for their services and commitment to ensuring accuracy and transparency in our financial reporting. 12
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES TRUSTEES. RESPONSIBILITIES STATEMENT Small Companies Provision Statement TheTrustees have taken advantage of the small companies, exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the Trustees, report on the grounds that the charitable company is entitled to prepare its accounts for the year in accordance with the small companies. regime. The Trustees, Report was approved on 12 December 2024 and signed on their behalf by: Professor Ultan Power. Treasurer and Trustee 13
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES OPINION We have audited the financial statements of the International Society for Influenza and Other Respiratory Virus Oiseases I'the charitable companw) for the year ended 31 March 2024 which comprise the Statement of Financial Activities. the Balance Sheet, the Statement of Cash Flows and Notes to the financlal statements. Including significant accounting policies. The financial reporting framework that ha5 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: 8ive a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incomin8 resources and application of resources, includlng its income and expenditure, for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requlrements of the Charlties Act 2011. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing IUK) IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. includlng the FRC'S Ethical Standard, and we have fulf illed our other ethical re5ponsibilitles in accordance with these requirements. We believe that the audlt 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 identlfied 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 directors With respect to 80ing concern are described in the relevant sections of this report. OTHER INFORMATION The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 14
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES 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 audlt or otherwise appear5 to be materlally misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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. mAERs ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters in relation to which the Charities {Accounts and Reports) Regulations 2008 require us to report to you if, in our oplnion., the information given in the Trustees, Report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records: or we have not received all the information and explanations we require for our audit. RESPONSIBILITIES OF THE TRUSTEES As explalned more fully in the Statement of Trustees, Responsibilltles (set out on page 121, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responslble for the preparatlon of the flnancial 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 companvs ability to continue as a going concern, disclosingi as applicable. matters related to goin8 concern and using the golng concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operation5. or have no realistic alternative but to do so. AUDITOR'S RESPONSIBIUTIES 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 auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI 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. 15
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES Irregularities, includlng fraud. are instances of non-compliance with laws and regulations. We design procedures in line wlth 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: EXTENT TO WHICH THE AUDIT WAS CONSIDERED CAPABLE OF DETECTING IRREGULARITIES, INCLUDING FRAUD Our approach to Identlfying and assessing the risks of materlal misstatement in respect of Irre8ularities, including fraud and non-compliance with laws and regulations, was as follows: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations,. we assessed the extent of compliance with the laws and re8ulations identifled above through making enquiries of management and inspectin8 le8al correspondence; and • we identified laws and re8ulatlons which were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We considered the nature of the charitable company's sector and its control environment, and reviewed the charitable companvs documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also identified the laws and regulations applicable to the charitable company through discusslons With the Trustees and other management, and from our cumulative audit, knowledge and experience of the charitable company. We obtained an understanding of the legal and regulatory framework that the Charitable company operates in, and identified the key laws and regulations that: had a direct effect on the determination of material amounts and disclosures in the financial statements. These included the Companies Act 2006, the Charities Act 2011, the Charities SORP, and UK financial reporting standards a5 Issued by the Financial Reporting Council,. and do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charitable company's ability to operate or to avoid a material penaltv. These included the Charitable companvs regulatory requirements, employment and taxation legislations, the Data Protection Act and the Bribery Act. We assessed the susceptibility of the charitable compan¢s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by.. making enquiries of management as to where they considered there was susceptibility to fraud, their knowled8e of actual, suspected and alleged fraud; and • considering the internal controls and policies in place to mitigate risks of fraud and non- compliance with laws and regulations. 16
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: • reviewing financial statement disclosures by testing to supporting documentation to assess compllance with provisions of relevant laws and regulations described as having a dlrect effect on the financial statements; performing analytical procedures to identify any unusual or unexpected relationships that mav indicate risks of material misstatement due to fraud; • enquiring of the Trustee concerning actual and potential litigation and clairns, and instances of non-compliance with laws and regulations: and • reading minutes of Trustee meeting5, reviewing internal audit reports and reviewing correspondence with the Charities Commission. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactlons, the less likely it is that we would become aware of non- compliance. Auditing standards also limlt the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations {irregularitiesl is from the events and transaction5 reflected in the financial statements, the less likely the inherently limited procedures required by audltlng standards would identify It. In addition, as with any audlt, there remained a higher risk of non- detection of Irregularities, as these may involve collusion, forgery, intention31 omissions, misrepresentations, or the overrlde of Internal controls. We are not responsible for preventing non- compliance and cannot be expected to detect non-compliance with all laws and regulations. A further descrlptlon of our responsibilities is available on the Financial Reporting Councll's webslte at- www.frc.org.uk/auditor5responsibilities. Thi5 description forms part of our auditorfs report. 17
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES 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 Records) 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 the charitable company's trustees as a body. for our audit work, for this report, or for the opinions we have formed. SHAW GIBBS (AUDITI LIMITED Statutory Auditor Salatin House 19 Cedar Road Sutton, Surrey SM2 SDA Date: Shaw Gibbs (Audit) Limited is eligible for appointment as auditor of the charity by virtue of its eligiblllty for appointment as audltor of a company under sectlon 1212 of the Companles Act 2006. 18
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024) Unrestricted Funds Restricted Funds Notes 2024 2023 Income Irom: Charitable activities Investments 225,362 29,561 215.362 1,743,712 29.561 23,621 Total income 2S4,923 254.923 1,767,333 Empendlture on: Charltable actlvltles Support and Governance 212,933 175,225 212,933 175,225 883,835 121,020 Total expendSture 388,158 388,158 1,004,855 Net galnllloss) on Investments li 16,551 16,551 130,504) Net (deftdtl/surplus {116,6841 (116,6841 731,974 Transfers between funds Net movement In funds 1116,6841 (116,6841 731,974 Re¢onclllatlon of Funds: Total funds brought forward 1,907,887 100,320 2,008,107 1,276,233 Total funds ¢arrled forward 1.791,203 100.320 1,891,523 2,(X)8,207 All of the results derive from continuing activities. The Statement of Financlal Activitles Includes all gains and10sses recogni5ed in the year. The notes on pa8es 22 to 30 form part of the financial statements. 19
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES BALANCE SHEET AS AT 31 MARCH 2024 (COMPANY REGISTRATION NUMBER 06021083) Notes 2024 2023 Cuirent a55ets Debtors Current asset investments Cash at bank and in hand io li 19,320 554,749 1,460,113 151,698 494,254 1,545,056 2,034,183 2,191,008 Creditors: amounts falling due wlthin one year 12 1142,6591 (182,8011 Net ¢urrent assets 1,891,523 2,IJ08,207 Total assets less current Ilabllitles 1,891,523 2.008,207 Funds Restricted funds Oesi8nated funds General fsjnds 13 14 14 100,320 675,000 1,116.203 100,320 717,557 1,190,330 Total lunds Carrled forward 1,891,523 2,008,207 These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charitles SORP {FRS 10211 and constitute the annual accounts requlred by the Companles Act 2006 and are for the Circulation to members of the charitable company. The trustees are satisfied that the charitable company was entitled to exernption from audit for the year ending 31 March 2024 under section 477 of the Companies Act 2006 and the trustees have not requested an audit in accordance with section 476 of the same act. However, an audit is required in accordance with section 144 of the Charities Act 2011. The trustees. who are regarded directors for the purpose of the Companies Act 2006, acknowledge their responsibilities for complying With the requlrements of the Act with respect to accounting records and the preparation of accounts. The accounts were approved and authorised for issue bythe Trustees on 12 December 2024 and 518ned on their behalf by.. Profe$50r Ultan Power- Trustee and Dlrertor. Treasurer of ISIRV The notes on pages 22 to 30 form part of the finèncial statements. 20
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 Net ¢ash used in operatin8 artivities 17 (65,894) 721,972 Cash flows from Investment artlvltles; Dividends and interest received from investments Proceeds from sale of investments Purchase of investments Cash used in Investing artlvitles 24,894 23,621 22.933 li IDecrea5e)lincrease in cash and cash equlvalents (89,219) 753,474 Cash and cash equivalents at beginning of year 1.556,946 803,472 Total cash and cash equlvalents at end of year Cash and cash equivalents beln8: Cash at bank and in hand Liquid resources held in current asset investments 1.460.113 1,545,056 li Cash used In Investing actlvltles The notes on pa8es 22 to 30 form part of the financial statements. 21
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES The principal accounting policies are set out below. The accounting policies have been adopted conslstently in all the years presented, unless Otherwise stated. Going concern Having considered a period of more than 12 months from the signing of these financial statements. the trustees assessment is that the charitable company Is a 8oln8 concern and these accounts have therefore been prepared on a goin8 concern ba51S. Basls of aecountlng The financial statements have been prepared in accordance wlth Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charities preparlng their accounts in accordance with the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland- (Charites SORP IFRS 10211, the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021. the Charities Act 2011 and the Companie5 Act 2006. International Society for Influenza and Other Respiratory Virus Diseases meets the definition of a public benefit entity under FRS 102. These flnancial statement5 have been prepared usin8 the hlstorical cost conventlon except that as dlsclosed in the accountin8 pollcles certaln items are shown at fair value. The functional currency of the charitable company is considered to be pounds sterling {£) because that is the currency of the primary economic environment in whlch the charitable company operates. The financial statements are presented in pounds sterlin81£1. Judgements and key sources of estlmatlon uncertalnty In the opinion of the trustees there are no judgements or key sources of estimation uncertainty which could materially affect the financial statements. Income The principal policies on income are as follows: Donotions- Donations are credited in the year in which they are received. Grant income - Grant income Is generally related to specific conferences and. where thls Is the case, Is reco8nised In the period in whlch the conference is run in line with grant terms and matched expenditure. Unspent grants are returned or repurposed in Ilne with grant terms. Membership income Direct membership income is recognised when received. Membership is also included as part of conference attendance fees paid by non-members. Since the amounts are not refundable. they are recognised in the year they are received. 22
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Conference ottendonce and sponsorship Attendance fees and sponsorship income are recognised in the period in which the conference is run. Investment income- Interest and dividends are recognised in the perlod in which they are receivable. Expendlture Expenditure on charitable activities includes: Conference c05ts- those incurred in organising and running medlcal conferences and accounted for in the period in which the conference is run. School of Respirotory Viruses costs - those incurred in relation to the ongoing activity of or8anisin8 and running a school providing specialised training on influenla and other respiratory virus diseases and accounted for in the period to whlch they relate. Governonce costs those Incurred In the governance of the charltable companvs assets, primarily associated with constitutional and statutory requirements and accounted for in the period to which they relate. Support C05t5 those incurred on central functions. allocated to activity cost categories on a basis consistent with the use of resources and accounted for in the period to which they relate. Support costs include consultancy cost5, general office costs and bank charges. Irrecoverable VAT Is charged as a cost against the activity for vthich the expenditure was incurred. Fund strurture The fund5 held by the charitable company are elther.. Generalfunds- these are unrestrlcted funds which can be used in accordance with the charltable objects at the discretion of the trustees and include des18nated funds. Designated Junds - form pèrt ot the unrestricted funds and represent funds embarked by the trustees for specific future project5 or purpose. Restrictedfund5- these are funds that can only be used for partltular restricted purposes within the objects of the charitable company. Restrictions arise when specified by the donor or when funds are raised for partlcular purposes. Oebtors Oebtors are recognised initially at the transaction price. They are subsequently measured at amortised cost, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the charitable company will not be able to collect all the amounts due according to the original terms of the debt. 23
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Prepaid expenditure and accrued income is valued at the amount prepaid or accrued and calculated in line with the charitable companvs stated policies on expendilure and income. Current Asset Investments Current asset investments are recognised initially at the transaction pri¢e and subsequently measured at the market value. Gains and losses on current asset investments are recognlsed in the Statement of Financial Activitles. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and In hand as disclosed In the balance sheet and liquid resources included in current asset investments held by Investment managers as part of the normal course of managing the charitable companvs investments. Credltors Creditors are recognised where the charitable company 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. Accrued expenditure and deferred income Is valued at the amount accrued or deferred and calculated In Ilne wlth the charitable company's stated policies on expendlture and income. Flnanclal Instruments The charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. 8asic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 2 Legal status of the charlty The charltable company is a company limited by guarantee and has no share capital. The Ilability of each member In the event of a winding up is limited to £10. 3 Taxation The charitable company is exempt from tax on income and 8ains falllng wSthin section 505 of the Taxes Act 1988 or section 256 of the Taxation of Char8eable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges hève arisen in the charity. Related party transactlons Details of Trustees and key management personnel emoluments and expenses are disclosed in note 9. There were no outstanding balances with related parties as at 31 March 202412023: Nill. 24
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Net incomellexpenditure) forthe year 2024 2023 Thls 55 Stated after char8ln8'. Auditors remuneration.. Audit of these financial statements Other financial servlces provlded by the auditor 3,9CQ 1,620 Incomefrom charitable activities Year ended 31 March 2024 Unrestricted Funds Restricted Funds 2024 Membership subscriptions Royalties Conference attendance fees Conference sponsorship and grants 14,960 42,615 89,589 78,198 14,960 42,615 89,589 78,198 225,362 225,362 Year ended 31 March 2023 Unrestricted Funds Restricted Funds 2023 Membership subscriptions Royaltles Conference attendance Fee5 Conference sponsorship Grants 111,308 32,601 876,827 400,867 322,109 111,308 32,601 876,827 400,867 322,109 1,743,712 1,743,712 7 Expendlture on tharitable activities Year ended 31 March 2024 Unrestricred Funds Restricted 24 Conferences Web51te costs Gain on foreign exchange 197.405 15,273 255 197A05 15,273 255 212, 933 212,933 25
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitsble artivities {continued) Year ended 31 March 2023 Unrestricted Restricted Fund5 Conferences Website costs Gain on foreign exchange &85,533 14,103 115,8011 88S,533 14.103 (15.801) 883,835 883,835 8 Support and governance Year ended 31 March 2024 Support Governance 8asls of Apportlonrn•nt Consultancyfees General office costs Bank char8es Accounlancy services Audit fees ISIRV strate Day 96,940 14,827 1.063 34,723 131,663 14,827 1,063 Time Ihoursl Time Ihoursl Support Governance Governance 4,800 4,800 22,872 135.702 39,523 175.225 Year ended 31 March 2023 Support Governance Costs Costs Basls of Total Apportlonment ConsuStancyfees General office costs Bank charges Independent Examination Audit fees 75,234 14.290 718 25,078 100,312 Time Ihoursl 14,290 Time Ihoursl 718 Support 1,800 Governance 3.900 Governance 1,800 3,900 90.242 30,778 121,020 26
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs, trustee remuneration and expense5 and key managernent personnel The charltable company had no employees during the year12023'. no employee51. No trustees or persons connected with them received any emoluments in their role as trustees from the charitable company. No trustee received reimbursement of expenses12023- £nlll incurred in carrying out their duties. 10 Oebtors Prepayments and accrued income 19,320 151,698 11 Current Ass•1 Investments 2024 2023 Listed investments.. Carrying value (market value) at l April Additions to investments at cost Oisposals at carrying value Gain on disposal of investments Gainlllossl on revaluation 482,364 48,219 510,749 15,052 (22,933) 3,749 134,253) 16,551 Carrying value (market value) at 31 March 547,134 482,364 Liquid resources 7,615 11,890 Total Current asset investments at 31 March 554,749 494.254 Historical cost at 31 March 2024 was £673,77512023: £628.6641. 27
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12 Credltors: amounts falllng due wlthln one year 2024 2023 Accrued expenditure Deferred income 109,216 33,443 126.036 56.765 142,659 182,801 Deferred Income comprises grants and conference attendance fees relating to conference5 to be held in a subsequent accounting perlod. 13 Restrlrted fund5 Transler beeen fvnds Balance at IApr23 Balance at 31 Mar 24 Year ended 31 March 2024 Income Expendlture Restricted 8rants and le8acies'. G.C,Schlld Fund l(X).320 100,320 IW.320 100,320 Transfer between funds Balance at I Balance at 31 Year ended 31 March 2023 Apr 22 Income Expenditure Mar 23 Restrlcted grants and legacles: G.C.Schild Fund 10).006 314 100,320 ItK),006 314 100,320 Restricted funds represent the balance on G Schild legacy received in 2020. The legacy will be used to fund two pre5ti8lOUs ISIRV Awards- The Geoffrey Schild Lecture Award and The Geoffrey Schild Award. 28
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 Unrestrlcted lunds Year ended 31 Marth 2024 Transfer between funds Balance at I Apr 23 Gain on Investments Balance at 31 Mar 24 Income Expendlture Designated funds.. DesignatedreseThes fund Lors Hooheim Fund ISIRVEducation Fund General funds 675,OCX) 24,912 17.645 1,190,330 675,000 24,912 17,645 1,073.646 254.923 1388,1581 16,551 Total 1,907,887 254.923 1388,1581 16,551 1,791,203 Year ended 31 March 2023 Transfer between funds Bal•nceat I Apr 22 LOn Investments Balance at 31 Mar23 In¢ome Expendilure Designated funds: Designatedre5erves fund Lor5 Ht70heim Fund ISIRV Education Fund General funds 675,000 24,912 17.645 4S8.670 675,000 24,911 17.645 1,190,330 1.767,019 (l.1))4,8551 {30,5041 Total 1,176,227 1.767,019 [1,,855) 130,5041 1,907,887 Name of lund Descii tlon nature and oses of the fund Designated reseThies fund Unrestricted funds earmarked for specified use. Lars Haaheim fund Initially established as a restricted fund with a donation from Vigdis Haaheim, widow of Lars Haaheim. a founder of the School of Influenza for the education and ongoing development of young Scientists. ISIRV Education Fund A general fund to support the development of awards for early career researchers. 29
INTERNATIONAL SOCIETY FOR INFLUENZA AND OTHER RESPIRATORY VIRUS DISEASES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 IS Anjlysls of net assets between funds Year ended 31 March 2024 Unrestiicted fund Restricled fund Total Current assets Current liabillties 1,933,862 1142,659) 100,320 2,034,182 {142,6591 1,791,203 100,320 1,891,523 Year ended 31 March 2023 Unrestrlcted Restrlcled fund Total Current assets Current liabilities 2,090,688 1182,8011 100,320 1,191,008 1182,8011 1,907,887 100,320 2,008,207 16 Transfers between fvnds At 31 March 2024 no funds were transferred from restricted funds to unrestricted funds 12023.. £01. 17 Reconciliation of net Income to net cash flow from operatlng artmtles 2024 2023 Net movement in funds Adju5tmentfvr.' IGain)/loss on investments Deduct income from investments Decreasellincreasel in debtors Increaselldecreasel in creditors {116.6841 731.974 116,5511 124,8941 132.377 140.1421 30.504 123,6211 171.3141 54.429 165,8941 721.971 30