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← The Society Of British Neurological Surgeons

2023-12-31-accounts

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F 

REGISTERED COMPANY NUMBER: 05879644 (England and Wales)
REGISTERED CHARITY NUMBER: 1119431

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Report of the Trustees and

Audited Financial Statements

for the Year Ended 31 December 2023

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Contents of the Financial Statements
for the Year Ended 31 December 2023
Page
Report of the Trustees 1 to 7
Report of the Independent Auditors 8 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 27

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Report of the Trustees

for the Year Ended 31 December 2023

Thetrusteeswhoarealsodirectorsof thecharityforthepurposesof theCompaniesAct2006,present their
reportwiththefinancialstatementsofthecharityfortheyearended31December2023.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Purposes and Aims

The Society'spurpose,as set out in the objectin the charitablecompany'smemorandumof association,is  the
advancement of neurosurgery for the public benefit and the benefit of the community generally.

Society'spurposeisthestudyandadvancementofneurosurgery.TheSocietyaimstoadvance expertise,
knowledgeand trainingamongsurgeons,othermedicalpractitionersand all professionalsallied or concerned
with general public health generally having a qualification recognised by the National Health Service.

The Society thereby aims to relieve the sickness of persons suffering from surgical neurological disorders.

TheSocietypromotestheconductofresearch,tuition,mentoring,adviceandassistancegenerallyfor the
relief of sickness of persons suffering from neurological disorders.

The Societypromoteseducationand disseminationof knowledgeamongstthe communityby associating with
voluntary and other organisations and individuals with particular skills.

Fundingresources:Thesociety'sprincipalregularsourceofincomeisthesubscriptionfromits members.
Voluntarygiftsanddonationsincomearereceivedoccasionally.Hospitaltrustssupportthe National
NeurosurgeryAuditProgram.Fundsarecollectedbythecharityanddisbursedfromit.SBNSholds both
restricted and unrestricted funds, as mentioned below.

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Report of the Trustees
for the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES

Significant activities

Bursaries:

TwotravelBursariesto Nepaleseneurosurgicaltraineeswereawardedlast year.The SBNS has reinstated ten
UK bursariesand thefivenon-Europeancountries'travelconservatorshipsupportbursariesfromthe current
year.

A newSBNSPresident'sBursaryhasbeenintroduced,alongwithdoublingtheamountofthebursary budget
to support UK trainees.

SBNS mentorship

The SBNS council worked to develop a peer-to-peer mentorship program. It is now operational.

SBNS helpline

Thecouncilispursuingtooffer'members-inneed'afreephonehelpservicetopromotementalhealth and
well-being at the workplace.

SBNS Global

TheSBNSGlobal,withTheDianaandAlanKarterFund,hasdevelopedinternationalbursariesto sponsor
neurosurgeonsfromLowandmedium-incomecountriestovisittheUKandsupportlocaltraineesto visit
LMIC countries to gain experience.

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Report of the Trustees

for the Year Ended 31 December 2023

STRATEGIC REPORT

Achievement and performance

Charitable activities

TheSocietyofBritishNeurologicalSurgeonsundertakesawiderangeofactivitiesthataffect the
neurosurgicalcommunityin general.The SBNS is involvedin research,standardsand deliveryof  neurosurgery
carein theGB& IRE.TheSBNScharityis focusedonthewell-beingofitsmembers,equality& diversity, and
promotes a workplace free from bullying, with empowerment and equality in opportunity.

Namechangeballotresults:67%of the membersvotedto retainthe nameof 'Societyof British Neurological
Surgeons.'

The Society's constitution is being updated, to be discussed in the next AGM.

Membership Activities:

SBNS council meeting and executive committee meetings .

Fourmeetingswereheldthroughouttheyeartoformulate,reviewanddiscusspoliciesforneurosurgery in
the United Kingdom,the implicationsof governmentpolicyproposals,issues aroundtrainingand the  financial
position of the society.

SBNSsubcommitteesdeliberatedonthetopicsofResearch,NationalAudit,GlobalNeurosurgery and
neurosurgical trainee matters.

SBNSconferenceswereheldinCork(spring)andLondon(autumn).SBNSmembersandother delegates
attendedthesescientificconferencestoexchangeknowledgeoncurrentneurosurgicalpractice.The SBNS
AGM was held during the autumn meeting.

SBNS Equality and Diversity

TheEqualityandDiversitygroupexploredpracticesintheworkspacesandwithinthecharity.The findings
have been disseminated.The EDI reporthas now been submittedto the RCS and placedon the SBNS  website.
ThereportwassharedwiththemembersduringtheSBNSconference.Focusgroupsarenowlooking at
dropout rates for training via the FSSA and the demographics.

Green surgery meeting

TheSBNSrepresentativecontinuedtoengagewiththegreensurgeryinitiative.SBNSwishestobe a
stakeholderinthisaspirationalenterprisetoreduceitscarbonfootprintduringtheoperativeprocess by
making sustainable changes.

National Neurosurgical Audit Programme

TheNationalNeurosurgicalAuditProgrammeproducedareportonunit-levelperformanceanda further
report on COVID recovery. These reports were shared with respective trusts.

Clinical Pathways/Guidelines

TheSBNScouncildeliberatedonvariousclinicalpathwaysduringtheyear.Thefollowingareof special
mention:

-Suspected Cauda Equina Syndrome Pathway

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Report of the Trustees

for the Year Ended 31 December 2023

-Perioperative Management of Anticoagulation and Antiplatelets in Spinal and Cranial Neurosurgery
-NICE (Subarachnoid Haemorrhage Guidelines)

The SBNS Archivist

The society appointed two members as Archivist in preparation for SBNS100.

Financial review

Principal funding sources

TheSociety'sprincipalregularsourceoffundsis thesubscriptionincomefromitsmembers.Other voluntary
giftanddonationincomeis receivedfrombothprivateandcommercialdonors.TheNNAPis now supported
by hospital trusts, donations from which are collected by the charity and disbursed from it.

Investment policy and objectives

TheSocietyhasadoptedareserveandinvestmentpolicy.SBNSwillpursueanethicalinvestment policy
commensurate with its founding principle. The investment policy is attached.

INVESTMENT 2023

SBNShasinvested£500,000in cashreserve(FD)withLloydsBank.Theinterestearnedis plannedto expand
SBNS charitable activities, benefitting the membership.

SBNShasinvesteda restricteddonation- 'TheDianaandAlanKarterFund'withAFHwealthmanagement as
an SBNS Global Neurosurgery fund for charitable activities related to neurosciences in LMIC countries.

Reserves policy

TheSocietyseekstomaintainitsuncommittedreservestocoverthreemonthsofourfixed office
expendituresplusacontingencyreservefortheestimatedcostsofthefollowingyear'sacademic meetings
and commitments regarding charitable work, as mentioned above.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Societyis a charitablecompanylimitedby guaranteeas defined by the CompaniesAct 2006, incorporated
on18July2006andregisteredasacharityon31May2007.ItsMemorandumestablishedthe Society's
objects and powers and is governed under its Articles of Association.

Recruitment and appointment of new trustees

Forcharitylaw,theSociety'strusteesarethedirectorsofthecharitablecompanywhoarethe elected
Officersof theSociety,exceptfortheSecretaries.All officersarenominatedfromamongand electedby Full
Members of the Society and serve in office for two years

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Report of the Trustees
for the Year Ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

TheSocietyhasa CouncilofManagementofelectedOfficers(whowiththeexceptionoftheSecretaries are
alsothe directorsof the companyand for purposesof charitylaw are the trusteesof the charity),ten elected
membersappointedby nominationand election,five membersex-officioas appointedby the relevant bodies
approved by the Council from time to time, and one lay member appointed by invitation.

The Directorsare responsiblefor the managementof the businessof the Society.The Councilmeets regularly
to develop and review the Society's strategic direction and policy.

Wider network

InfurtheranceofitscharitableobjecttheSocietyhasdevelopedandmaintainsrelationshipswith other
bodiesengagedintheadvancementofexpertise,knowledgeandunderstandingofneurosurgeryby the
promotionandstudyofneurosurgery.TheWFNS,EANS,UEMS,BNTA,SACinNeurosurgery,and the
IntercollegiateExaminationBoardareallrepresentedontheCounciloftheSocietybyex-officio members.
The Societyis affiliatedto the WFNS,EANS,and UEMS,and throughits ProfessionalDevelopment, Standards
&EducationCommitteeislinkedwithotherorganisationsinvolvedintheadvancementof education,
knowledge and training of medical and allied professionals.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

05879644 (England and Wales)

Registered Charity number

1119431

Registered office

7 Swallow Place
London
W1B 2AG

Trustees

Mr N D Mendoza Consultant (resigned 1.2.2023)
Mr A J Jenkins Consultant (resigned 15.9.2023)
Mr P L Grundy Consultant (resigned 15.9.2023)
Mr P C Whitfield
Mr S Basu (appointed 1.2.2023)
Mr P J A Hutchinson (appointed 15.9.2023)
Mr C C Wigfield (appointed 15.9.2023)

Senior Statutory Auditor

Andrew Millet BA MBA FCA

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Report of the Trustees

for the Year Ended 31 December 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Solicitors

Sherrards LLP
7 Swallow Place
London
W1B 2AG

Auditors

Millet Accountants Ltd
Beyond Aldgate Tower
2 Leman Street
Aldgate, London E1 2FA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Thetrustees(whoarealsothedirectorsofTheSocietyofBritishNeurologicalSurgeonsforthepurposes of
companylaw)areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatements in
accordancewithapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
Accepted Accounting Practice).

Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgivea true
andfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesand application
ofresources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.In preparing
those financial statements, the trustees are required to

Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonable accuracy
atanytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthe financial
statementscomplywith the CompaniesAct 2006.They are also responsiblefor safeguardingthe assetsof the
charitablecompanyandhencefortakingreasonablestepsforthepreventionanddetectionoffraud and
other irregularities.

In so far as the trustees are aware:

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Report of the Trustees

for the Year Ended 31 December 2023

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 30 August 2024

==> picture [99 x 37] intentionally omitted <==

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

Mr S Basu - Trustee

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Report of the Independent Auditors to the Members of The Society of British Neurological Surgeons

Opinion

WehaveauditedthefinancialstatementsofTheSocietyOfBritishNeurologicalSurgeons(the 'charitable
company')fortheyearended31December2023whichcompriseStatementOfFinancialActivities, Balance
SheetandCashFlowStatementandnotestothefinancialstatements,includingasummaryof significant
accountingpolicies.The financialreportingframeworkthat has been appliedin their preparationis applicable
lawandUnitedKingdomAccountingStandards,includingFinancialReportingStandard102The Financial
ReportingStandardapplicableintheUKandRepublicofIreland(UnitedKingdomGenerally Accepted
Accounting Practice).

Basis for opinion

WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and
applicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe Auditors'
responsibilitiesfortheauditofthefinancialstatementssectionofourreport.Weareindependentof the
charitablecompanyin accordancewith the ethicalrequirementsthat are relevantto our audit of the  financial
statementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourother ethical
responsibilitiesin accordancewith these requirements.We believethat the audit evidencewe have obtained
is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasis of
accounting in the preparation of the financial statements is appropriate.

Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingto events
orconditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany's ability
to continueas a goingconcernfor a periodof at leasttwelvemonthsfromwhen the financialstatements are
authorised for issue.

Our responsibilitiesand the responsibilitiesof the trusteeswith respectto goingconcernare describedin  the
relevant sections of this report.

Other matters

The previousyear was unauditedand as such our audit reportdoes not extendto the corresponding amounts
withintheStatementOfFinancialActivities,BalanceSheet,CashFlowStatementandnotestothe financial
statements.Whereappropriatewehavecarriedoutworkontheopeningbalancestoensurethatthey do
not contain material misstatements that would affect the current year's financial statements.

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Report of the Independent Auditors to the Members of The Society of British Neurological Surgeons

Other information

Theotherinformationcomprisestheinformationincludedintheannualreportotherthanthe financial
statementsandourauditor'sreportthereon.Thetrusteesareresponsiblefortheother information
containedwithintheannualreport.Ouropiniononthefinancialstatementsdoesnotcoverthe other
informationand, exceptto the extentotherwiseexplicitlystatedin our report,we do not expressany form of
assuranceconclusionthereon.Ourresponsibilityistoreadtheotherinformationand,indoingso, consider
whethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorour knowledge
obtainedinthecourseoftheauditorotherwiseappearstobemateriallymisstated.Ifweidentify such
materialinconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhether this
givesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedontheworkwe have
performed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequired to
report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtained in
the course of the audit, we have not identified material misstatements in the Report of the Trustees.

WehavenothingtoreportinrespectofthefollowingmattersinrelationtowhichtheCompaniesAct 2006
requires us to report to you if, in our opinion:

Responsibilities of trustees

As explainedmorefully in the Statementof Trustees'Responsibilities,the trustees(who are also the  directors
ofthecharitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationof the
financialstatementsand for being satisfiedthat they give a true and fair view, and for such internalcontrol as
thetrusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefree from
material misstatement, whether due to fraud or error.

Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitable company's
abilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernand using
the going concernbasis of accountingunless the trusteeseitherintend to liquidatethe charitablecompany or
to cease operations, or have no realistic alternative but to do so.

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Report of the Independent Auditors to the Members of
The Society of British Neurological
Surgeons

Our responsibilities for the audit of the financial statements

Our objectivesare to obtain reasonableassuranceabout whetherthe financialstatementsas a whole are free
frommaterialmisstatement,whetherdue to fraud or error,and to issue an auditor'sreportthat includes our
opinion.Reasonableassuranceis a highlevelofassurance,butis nota guaranteethatan auditconducted in
accordancewith ISAs (UK)will alwaysdetecta materialmisstatementwhen it exists.Misstatementscan arise
fromfraudorerrorandareconsideredmaterialif,individuallyorin theaggregate,theycouldreasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our planning process:

- We enquiredof managementthe systemsand controlsthe charitablecompanyhas in place, the areas of  the
financialstatementsthatare mostlysusceptibleto the risk of irregularitiesand fraud,and whetherthere was
anyknown,suspectedorallegedfraud.Thecompanydidnotinformusofanyknown,suspectedor alleged
fraud.

-Weobtainedanunderstandingofthelegalandregulatoryframeworksapplicabletothe charitable
company.Wedeterminedthatthefollowingweremostrelevant:FRS102,CompaniesAct2006,Charity Act
2011 and UK employment law.

- We consideredthe incentivesand opportunitiesthat exist in the charitablecompany,includingthe extent of
managementbias,whichpresentapotentialforirregularitiesandfraudtobeperpetuated,andtailored our
risk assessment accordingly.

-Usingourknowledgeofthecharitablecompany,togetherwiththediscussionsheldwiththe charitable
companyattheplanningstage,weformedaconclusionontheriskofmisstatementdueto irregularities
includingfraudandtailoredourproceduresaccordingtothisriskassessment.Thekeyprocedures we
undertook to detect irregularities including fraud during the course of the audit included:

-Identifyingandtestingjournalentriesandtheoverallaccountingrecords,inparticularthosethat were
significant and unusual.

-Reviewingthefinancialstatementdisclosuresanddeterminingwhetheraccountingpolicieshave been
appropriately applied.

-Reviewingandchallengingtheassumptionsandjudgementsusedbymanagementintheir significant
accountingestimates,inparticularinrelationtodoubtfuldebtprovision,stockprovisionand depreciation
methods.

-Assessingtheextentofcompliance,orlackof,withtherelevantlawsandregulations,inparticular those
that are central to the entities ability to continue in operation.

Owingtotheinherentlimitationsofanaudit,thereisanunavoidableriskthatwemaynothave detected
somematerialmisstatementsinthefinancialstatementseventhoughwehaveproperlyplanned and
performedour audit in accordancewith auditingstandards.The primaryresponsibilityfor the prevention and
detection of irregularities and fraud rests with the directors.

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Report of the Independent Auditors to the Members of The Society of British Neurological Surgeons

A furtherdescriptionof our responsibilitiesfor the audit of the financialstatementsis locatedon the  Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionformspartof our
Report of the Independent Auditors.

Use of our report

Thisreportis madesolelytothecharitablecompany'smembers,asa body,in accordancewithChapter3 of
Part16oftheCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstateto the
charitablecompany'smembersthosematterswe are requiredto stateto themin an auditors'reportand for
nootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibility to
anyoneotherthanthecharitablecompanyandthecharitablecompany'smembersasabody,forour audit
work, for this report, or for the opinions we have formed.

==> picture [94 x 37] intentionally omitted <==

Andrew Millet BA MBA FCA (Senior Statutory Auditor)

31 August 2024 

Date: .............................................

For and on behalf of Millet Accountants Ltd, Statutory Auditor
Beyond Aldgate Tower, 2 Leman Street, Aldgate, E1 8FA

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Statement of Financial Activities for the Year Ended 31 December 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
32,979
Charitable activities
6
Educational and academic
671,793
Other trading activities
4
41
Investment income
5
2,795
Other income
5,822
Total
713,430
EXPENDITURE ON
Charitable activities
7
Bursaries and awards
4,150
Project support
-
Educational and academic
674,693
Governance costs
16,410
Other
217,531
Total
912,784
NET INCOME/(EXPENDITURE)
(199,354)
RECONCILIATION OF FUNDS
Total funds brought forward
1,142,817
TOTAL FUNDS CARRIED FORWARD
943,463		 Restricted
funds
£
1,250,000
-
-
1,493
-
1,251,493
-
1,000
-
2,000
-
3,000
1,248,493
67,230
1,315,723		 2023
Total
funds
£
1,282,979
671,793
41
4,288
5,822
1,964,923
4,150
1,000
674,693
18,410
217,531
915,784
1,049,139
1,210,047
2,259,186		 2022
Total
funds
£
1,706
732,081
352
-
7,397
741,536
38,242
-
315,505
3,695
354,028
711,470
30,066
1,179,981
1,210,047 
The notes form part of these financial statements

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Balance Sheet

31 December 2023

Notes
FIXED ASSETS
Intangible assets
16
Investments
18
CURRENT ASSETS
Debtors
19
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
22
Unrestricted funds:
General fund
Restricted funds
TOTAL FUNDS		 2023
£
3,066
1,248,000
1,251,066
100,006
971,743
1,071,749
(63,629)
1,008,120
2,259,186
2,259,186
943,463
1,315,723
2,259,186		 2022
£
3,407
-
3,407
44,537
1,191,934
1,236,471
(29,831)
1,206,640
1,210,047
1,210,047
1,142,817
67,230
1,210,047

The financial statements were approved by the Board of Trustees and authorised for issue on 30 August 2024 ............................................. and were signed on its behalf by:

==> picture [99 x 37] intentionally omitted <==

.............................................
Mr S Basu - Trustee

The notes form part of these financial statements

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Cash Flow Statement

for the Year Ended 31 December 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of fixed asset investments
Interest received
Dividends received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
1,023,521
1,023,521
(1,248,000 )
2,795
1,493
(1,243,712 )
(220,191)
1,191,934
971,743		 2022
£
(10,672)
(10,672)
-
-
-
-
(10,672)
1,202,606
1,191,934		 
The notes form part of these financial statements

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Cash Flow Statement for the Year Ended 31 December 2023

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Dividends received
Increase in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operations		 ACTIVITIES
2023
£
1,049,139
341
(2,795)
(1,493)
(55,469)
33,798
1,023,521		 2022
£
30,066
379
-
-
(35,202)
(5,915)
(10,672)		 
2.ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand
Total		 At 1/1/23
£
1,191,934
1,191,934
1,191,934		 Cash flow
£
(220,191)
(220,191)
(220,191)		 At 31/12/23
£
971,743
971,743
971,743		 
The notes form part of these financial statements

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THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. CURRENCY

The Functional currency is Great British Pounds

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been preparedunder the historicalcostconvention,with the exceptionof investmentswhich are
included at market value.

Income

All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.

Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.

Allocation and apportionment of costs

CostsareallocatedbetweencategoriesofexpenditureoftheStatementofFinancial Activities
reflectingtheapplicationoftheresources.Costsrelatingtoa particularactivityareallocated directly,
others are apportioned on bases appropriate or on estimated usage.

Intangible fixed assets - website

Depreciationisprovidedat10%perannumoncostinordertowriteofftheassetoverits estimated
useful life.

Tangible fixed assets

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost 
continued...

Page 16

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Taxation

The Society is a registered charity and as such is exempt from taxation on its charitable activities.

Financial instruments

TheCompanyonlyentersbasicfinancialinstrumenttransactionsthatresultintherecognition of
financialassetsandliabilitiesliketradeandotherdebtorsandcreditors,loansfrombanksand other
third parties, and investments in ordinary shares.

Financialassetsthataremeasuredatcostandamortizedcostareassessedattheendoof each
reportingperiod for objectiveevidenceof impairment.If objectiveevidenceof impairmentis found, an
impairment loss is recognised in the Profit and Loss Account.

Financialassetsand liabilitiesare offsetand the net amountreportedin the BalanceSheet when there
isanenforceablerighttosetofftherecognisedamountsandthereisanintentiontosettleona net
basis or to realise the asset and settle the liability simultaneously.

3. DONATIONS AND LEGACIES

4.

Donations
Legacies
OTHER TRADING ACTIVITIES
Insignia & merchandise		 2023
£
32,979
1,250,000
1,282,979
2023
£
41		 2022
£
1,706
-
1,706
2022
£
352		 
continued...

Page 17

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

5.
INVESTMENT INCOME
Other fixed asset invest
Fixed term deposit interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Conference income
Educational and academic
NNAP
Educational and academic
Membership subscriptions
Educational and academic		 2023
£
1,493
2,795
4,288
2023
£
433,107
72,000
166,686
671,793		 2022
£
-
-
-
2022
£
365,406
198,000
168,675		 2022
£
-
-
-
732,081 
7.CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct
activities
Support
Costs (see
(see note
costs (see
note 8)
9)
note 10)
£
£
£
Bursaries and awards
-
4,150
-
Project support
-
1,000
-
Educational and academic
521,416
-
153,277
Governance costs
-
-
18,410
521,416
5,150
171,687		 Totals
£
4,150
1,000
674,693
18,410
698,253 
continued...

Page 18

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Affiliations & memberships
Conferences
9.
GRANTS PAYABLE
Bursaries and awards
Project support
10.
SUPPORT COSTS
Other resources expended
Educational and academic
Governance costs
r
Other resources expended
Educational and academic
Governance costs		 2023
2022
£
£
63,613
27,687
457,803
283,438
521,416
311,125
2023
2022
£
£
4,150
38,242
1,000
-
5,150
38,242
Information
Management
Finance
technology
£
£
£
26,005
333
1,823
-
-
-
8,250
-
-
34,255
333
1,823
Human
Governance
esources
Other
costs
Totals
£
£
£
£
699
51,596
137,075
217,531
153,277
-
-
153,277
-
-
10,160
18,410
153,976
51,596
147,235
389,218		 2022
£
27,687
283,438		 2022
£
27,687
283,438
311,125
2022
£
38,242
-
38,242
1,823
Totals
£
217,531
153,277
18,410
389,218 
continued...

Page 19

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

11. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):
2023 2022
£ £
Website amortisation 341 379

12. TRUSTEES' REMUNERATION AND BENEFITS

Therewereno trustees'remunerationor otherbenefitsfor the yearended31 December2023nor for
the year ended 31 December 2022.

Trustees' expenses

There were £2,447 of Trustee expenses paid in the year relating to travel costs. (2022 - Nil)

13. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Administrators		 2023
£
149,046
4,231
153,277
2023
2		 2022
£
166,929
4,380
171,309
2022
2		 
Thenumberofemployeeswhoseemployeebenefits(excludingemployerpensioncosts) exceeded
£60,000 was:
£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000		 2023
1
1
-
2		 2022
-
1
1
2 
continued...

Page 20

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
500
Charitable activities
Educational and academic
732,081
Other trading activities
352
Other income
3,634
Total
736,567
EXPENDITURE ON
Charitable activities
Bursaries and awards
36,348
Educational and academic
315,505
Governance costs
3,695
Other
354,028
Total
709,576
NET INCOME
26,991
RECONCILIATION OF FUNDS
Total funds brought forward
1,115,826
TOTAL FUNDS CARRIED FORWARD
1,142,817		 Restricted
funds
£
1,206
-
-
3,763
4,969
1,894
-
-
-
1,894
3,075
64,155
67,230		 Total
funds
£
1,706
732,081
352
7,397
741,536
38,242
315,505
3,695
354,028
711,470
30,066
1,179,981
1,210,047 
continued...

Page 21

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

15. GOING CONCERN

TheCharity'sfinancialstatementshavebeenpreparedon a goingconcernbasis.TheOrganization has
more than sufficient funds to continue operating for the foreseeable future.

16. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Website
£
COST
At 1 January 2023 and
31 December 2023 30,370
AMORTISATION
At 1 January 2023 26,963
Charge for year 341
At 31 December 2023 27,304
NET BOOK VALUE
At 31 December 2023 3,066
At 31 December 2022 3,407

17. TANGIBLE FIXED ASSETS

Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 January 2023 and
31 December 2023
3,528
4,459
DEPRECIATION
At 1 January 2023 and
31 December 2023
3,528
4,459
NET BOOK VALUE
At 31 December 2023
-
-
At 31 December 2022
-
-		 Totals
£
7,987
7,987
-
- 
continued...

Page 22

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

18. FIXED ASSET INVESTMENTS

The companyhas invested£1,248,000in a fund that in turn investsin listedsharesand gilts.The fund
is managed by fund managers.  The shares and gilts are restricted to ethical assets.

19. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
VAT
Other creditors
Accruals and deferred income
Accrued expenses
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
fund
£
Fixed assets
3,066
Investments
-
Current assets
1,004,026
Current liabilities
(63,629)
943,463		 Restricted
funds
£
-
1,248,000
67,723
-
1,315,723		 2023
£
175
99,831
100,006
2023
£
3,550
20,440
31,429
8,210
63,629
2023
Total
funds
£
3,066
1,248,000
1,071,749
(63,629)
2,259,186		 2022
£
26,331
18,206
44,537
2022
£
8,265
281
16,985
4,300
29,831
2022
Total
funds
£
3,407
-
1,236,471
(29,831)
1,210,047

20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

continued...

Page 23

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

22. MOVEMENT IN FUNDS

At 1/1/23
£
Unrestricted funds
General fund
1,142,817
Restricted funds
Cairns Campbell Connolly Prize Fund
1,500
Hugh Cairns Memorial Fund
61,967
The British Neurological Trainee
Research Collaborative
3,763
Global Neurosurgery
-
67,230
TOTAL FUNDS
1,210,047
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
713,430
Restricted funds
Hugh Cairns Memorial Fund
1,493
Global Neurosurgery
1,250,000
1,251,493
TOTAL FUNDS
1,964,923		 Net
movement
in funds
£
(199,354)
-
493
-
1,248,000
1,248,493
1,049,139
Resources
expended
£
(912,784)
(1,000)
(2,000)
(3,000)
(915,784)		 At
31/12/23
£
943,463
1,500
62,460
3,763
1,248,000
1,315,723
2,259,186
Movement
in funds
£
(199,354)
493
1,248,000
1,248,493
1,049,139		 
continued...

Page 24

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

22. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Cairns Campbell Connolly Prize Fund
Hugh Cairns Memorial Fund
The British Neurological Trainee
Research Collaborative
TOTAL FUNDS
Comparative net movement in funds, included in the above
Unrestricted funds
General fund
Restricted funds
Cairns Campbell Connolly Prize Fund
Hugh Cairns Memorial Fund
The British Neurological Trainee
Research Collaborative
TOTAL FUNDS		 At 1/1/22
£
1,115,826
2,500
61,655
-
64,155
1,179,981
are as follows:
Incoming
resources
£
736,567
-
1,206
3,763
4,969
741,536		 Net
movement
in funds
£
26,991
(1,000)
312
3,763
3,075
30,066
Resources
expended
£
(709,576)
(1,000)
(894)
-
(1,894)
(711,470)		 At
31/12/22
£
1,142,817
1,500
61,967
3,763
67,230
1,210,047
Movement
in funds
£
26,991
(1,000)
312
3,763
3,075
30,066
ar
r		 
continued...

Page 25

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

22. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Cairns Campbell Connolly Prize Fund
Hugh Cairns Memorial Fund
The British Neurological Trainee
Research Collaborative
Global Neurosurgery
TOTAL FUNDS		 At 1/1/22
£
1,115,826
2,500
61,655
-
-
64,155
1,179,981		 Net
movement
in funds
£
(172,363)
(1,000)
805
3,763
1,248,000
1,251,568
1,079,205		 At
31/12/23
£
943,463
1,500
62,460
3,763
1,248,000
1,315,723
2,259,186 
A currentyear12 monthsand prioryear12 monthscombinednet movementin funds,includedin  the
above are as follows:
Unrestricted funds
General fund
Restricted funds
Cairns Campbell Connolly Prize Fund
Hugh Cairns Memorial Fund
The British Neurological Trainee
Research Collaborative
Global Neurosurgery
TOTAL FUNDS		 Incoming
resources
£
1,449,997
-
2,699
3,763
1,250,000
1,256,462
2,706,459		 Resources
expended
£
(1,622,360 )
(1,000)
(1,894)
-
(2,000)
(4,894)
(1,627,254 )		 Movement
in funds
£
(172,363)
(1,000)
805
3,763
1,248,000
1,251,568
1,079,205		 
continued...

Page 26

Docusign Envelope ID: FD9C73C1-B96C-4C20-8992-308FE6EA636F

THE SOCIETY OF BRITISH NEUROLOGICAL SURGEONS

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

23. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

24. AUDIT COSTS

Audit costs in the year were £3,000 (2022 - nil)

Page 27