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2021-03-31-accounts

Company Registration No. 06853971 Charity No. 1134589

British Association of Stroke Physicians

Company Limited by Guarantee

Unaudited financial statements for the year ended 31 March 2021

British Association of Stroke Physicians Company Limited by Guarantee Contents

Page
Trustees' annual report 1 - 11
Independent examiner's report 12 - 13
Statement of financial activities (including Income and Expenditure account) 14
Statement of financial position 15
Notes to the financial statements 16 - 21

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) For the year ended 31 March 2021

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name British Association of Stroke Physicians
Company number 06853971
Charity number 1134589
Trustees Dr Elizabeth Warburton
Professor Rustam Al-Shahi Salman
Professor Gillan Mead
Professor Thompson Robinson
Professor David Werring
President Professor Thompson Robinson
Secretary Professor David Werring
Registered office 71 Queen Victoria Street
London
England
EC4V 4BE
Principle office Fitwise Management Limited
Blackburn House
Seafield
West Lothian
EH477AQ
Bankers Bank of Scotland Plc
43 Comely Bank
Edinburgh
EH4 1AF
Independent examiner Kenneth McDowell CA
Saffery Champness LLP
Edinburgh Quay
133 Fountainbridge
Edinburgh
EH3 9BA

Page 1

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

Structure, governance and management

The British Association of Stroke Physicians (BASP) was set up in April 1999 to promote better care for people with stroke in the UK. The five objectives of BASP are:

Training: improving and assuring the training of doctors in Stroke Medicine Research: promoting and disseminating research in Stroke

Medicine Research: promoting and disseminating research in Stroke

Clinical Standards: leading on clinical standards for Stroke Services and for doctors practicing Stroke Medicine

Policy: developing and influencing local and national policy for Stroke Services

Expertise: providing expert advice to external bodies on all aspects of Stroke Medicine.

BASP is a charitable company limited by guarantee (Company No. 06853971), incorporated on 20 March 2009, and registered as a charity on 02 March 2010. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. The charitable company operates from the following address:

Blackburn House Redhouse Road Bathgate West Lothian EH47 7AQ

Page 2

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

BASP Executive Committee April 2020 to March 2021:

Scientific Subcommittee April 2020 – March 2021

Clinical Standards Subcommittee April 2020 – March 2021

Training & Education Subcommittee April 2020 – March 2021

Page 3

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

Trainee Subcommittee April 2020 – March 2021

BASP Overview

TThe British Association of Stroke Physicians BASP was established in 1999 to promote the advancement of stroke medicine within Great Britain. Our members are all practising doctors who care for patients with stroke, with the aim of providing the highest standard of care. We value our diverse membership including physicians from a range of backgrounds and clinical roles. Some stroke physicians look after patients throughout the pathway, while others have expertise in a particular specialist area. Some stroke physicians provide care exclusively for patients with TIA/stroke, whilst others provide care to patients from their parent speciality: for example, general medicine, geriatric medicine, neurology or rehabilitation medicine. Many of our members have academic roles in stroke research. Our members also contribute to continuously improving the quality of stroke care according to the best available evidence.

BASP was formed with a less than full-time administrator and a modest membership fee. Over almost two decades, BASP has made considerable progress. The membership has grown. Scientific meetings have occurred every year. BASP was a founding major coalition partner in the UK Stroke Forum, and the BASP annual scientific meeting has merged into the UK Stroke Forum coalition’s annual conference. BASP participated in developing and leading the NIHR stroke research network. BASP members participated in developing and delivering major evidence based improvements in the care of people with stroke and at risk of stroke. BASP also helped to establish stroke medicine as a sub-speciality. During this time, an elected, un-paid executive committee has directed and conducted BASP’s activities. This BASP executive committee currently comprises 17 people: president, past president, president elect, service development and quality subcommittee chair, scientific subcommittee chair, trainees subcommittee chair, training and education subcommittee chair, national representatives (one for Wales, Scotland, and Northern Ireland and two for England), honorary secretary, honorary assistant secretary, and honorary treasurer.

In 2019-2020, the BASP executive committee added a new external engagement lead, and included a one-off, time limited ‘member without portfolio’. The BASP executive committee is supported by 22 members of the subcommittees.

Page 4

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2020

BASP strategic direction

BASP’s mission of ‘advancing stroke medicine’ for the good of the public, patients and professionals is guided by a strategic plan.

The BASP strategy 2017-2020 included five ambitions:

  1. Developing and influencing local and national policy for stroke

  2. Providing expert advice on all aspects of stroke care

  3. Leading on clinical standards for stroke

  4. Promoting and disseminating research in stroke; and

  5. Improving and assuring the training of doctors in stroke medicine.

During the spring and summer of 2020, the BASP executive committee chairs and BASP President reviewed BASP’s progress and execution of the aims of the BASP strategy during 2017-2020. We found clear evidence of satisfying almost all of the aims of the BASP strategy 2017-2020.

Following this review of the execution of the 2017-2020 strategy, the president drafted this quadrennial update of the strategic plan with input from the executive committee (18 May – 6 October 2020). The president created the final version of the strategic plan 2021-2024 following a consultation with the public (via the BASP website), relevant stroke organisations (who were alerted via email) and BASP full, associate, and retired members between 6-30 October 2020.

The consultation yielded responses from five organisations (Intercollegiate Stroke Working Party, Different Strokes, Association of British Neurologists stroke advisory group, British Cardiovascular Society, and The Stroke Association) and 17 individuals via an online form or email. This strategic plan 2021-2024 was launched after the president presented it at the annual general meeting on 8 December 2020.

Moving Forward

In 2020, there were several opportunities for BASP to develop further. After reviewing and refining the contract with BASP’s secretariat following its first year 2019-2020, the secretariat can support the executive committee to develop the Association. The secretariat helped the president and executive committee to respond to the SARSCov- 2 pandemic by: organising a series of urgent meetings; setting up a COVID-19 online resource hub; conducting regular surveys of members; organising national surveillance for COVID-19-associated stroke; and disseminating guidance about how stroke services could adapt. Responding extensively and rapidly would have been a challenge for BASP without the dedication of some of its executive members and sufficient capacity within the secretariat. The shift to remote/virtual working during the pandemic accelerated the acceptance and availability of the necessary software and the acquisition of the skills required, which provides BASP with opportunities to implement education, research, accessibility, and inclusivity, and improved environmental sustainability. Finally, the pandemic provoked a need for people in national stroke leadership positions to share information, not just in the four UK nations, but also the Republic of Ireland, where stroke training and stroke services are similar to the four nations of the UK. The “5-nations stroke calls” supported national leaders in the UK and Ireland to share information and campaign together, which would have been much more challenging for these nations to do alone.

Page 5

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

Moving Forward (continued)

Opportunities to grow the stroke physician workforce have also arisen from recent changes to medical training. Internal Medicine Training for three years (replacing two years of Core Medical Training) is required for entry to a larger number of parent specialties, which will enhance training in internal medicine and will prepare doctors for the management of the acutely unwell patient, with an increased focus on chronic disease management, comorbidity and complexity; this may increase the number of trainees who develop a sub-specialty interest in stroke medicine. Opportunities for trainees in Care of the Elderly and Acute Medicine to train in stroke will continue, with the option of a six month extension to their four-year specialty training programme. Furthermore, in October 2019 the GMC Curriculum Oversight Group approved the embedding of stroke sub-specialty Capabilities in Practice into the neurology curriculum (August 2022 onwards) so that all future neurology trainees will undertake a 6-month stroke medicine placement, enabling them to contribute to stroke as consultants.

Furthermore, the appointment of 10 BASP “Take Up Stroke” Fellows in 2019 throughout the UK should promote Stroke Medicine as a career amongst undergraduate medical students and early year trainees. The SARS-Cov-2 pandemic brought unanticipated opportunities to respond rapidly to the climate emergency by reducing travel as well as delivering digital healthcare (e.g. telemedicine for hyperacute reperfusion and rehabilitation, remote consultation for TIA, and brain imaging analysis software)

BASP Meetings

The BASP Executive meets three times during the year to oversee and provide direction to the Association, to determine the Association's strategy and support the work undertaken by the sub- committees. In other months there is a tele-conference. The sub-committees meet in person or by tele-conference at least three times a year. During 2020 – 2021 all meetings were conducted virtually due to COVID-19.

Page 6

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

BASP Committee representation

Group BASP Representative
Association of British Neuroloqists
Council		 BASP Exec & ABN SIG member
Joint Clinical
Neurosciences Committee		 England Representative x2, trainee committee chair
Joint Neurosciences Council Training and Education
Clinical Standards (alternate)
Stroke Action Plan for Europe (SAP-E)
implementation		 Clinical Standards Chair
Stroke PSP Steering Group
(Stroke Association’s James Lind		 Rustam and Nick in Rustams absence
Cross Party Working Group on Stroke
Scotland		 Scotland Representative
Intercollegiate Stroke
Workinq Partv		 President
Joint Stroke Medicine Committee President Elect & BASP Trainee
NHSE&I Stroke Delivery Board England Representative
NIHR Stroke National Specialty Group Scientific Committee Chair
NI Stroke Committee Northern Ireland Representative
Scotland Stroke Research Network Scotland Representative
UKSF Steering Committee President
President Elect
UKSF Scientific Promamme Committee Scientific Committee Chair
Wales Association for Stroke Physicians Wales Representative
Stroke Speciality Advisory Committee
(SAC)		 Training and Education
Chair
Royal College of Radiologists MT
Credentialing		 Clinical Standards Chair
BASP/SA/GIRFT liaison meeting* President & Past President
British Geriatric Society President
RCP Medical Specialties Board President
NICE Stroke rehab guidance Scientific subcomittee member

Page 7

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

Scientific Subcommittee

The Scientific Committee has been involved in the following activities:

UK Stroke Forum

The UKSF was held virtually in 2020, with the Scientific committee preparing the BASP stream content. The programme content was contributed to by the Scientific, Training and Education and Trainee subcommittees.

The scientific committee is actively involved in the planning of the programme for the next UKSF. Professor David Werring was Chair Elect of the UKSF 2019.

BASP/NIHR Writing groups are supported through a grant from BASP (£8000).

BASP is working with colleagues in the Identification & Prioritisation team at NIHR's NETSCC and in The Stroke Association, to identify pathways to commissioning more research on stroke. The Stroke Association's consultation on their new Research Strategy has identified a real appetite across the research community to develop a definitive and robust set of research priorities in stroke research. The reference standard for this process is a James Lind Alliance Priority Setting Partnership (www. jla .n ih r.ac.uk/). The Stroke Association has taken the lead and will fund this, working in partnership with BASP.

Training & Education Subcommittee

The Training & Education Committee have been involved in the following activities in addition to its duty to the UKSF:

The Training and Education committee were responsible for running monthly free webinars, starting in November 2020. Attendance peaked at 329 people attended the March 2021 live webinar. These recordings are then made available to members post webinar via the BASP website.

To promote pursuing a career in Stroke medicine BASP previously recruited 10 BASP Up Stroke Fellows to be ambassadors for stroke in their region covering England, Scotland, Wales and Northern Ireland. They are to engage locally and nationally in selling the concept of stroke. They will engage with medical students and junior doctors to talk up the merits of a career in stroke. Due to COVID-19 resulting in redeployment for many of the TUSFs, this was was haulted for some time. It was decided to extend their post by 1 year to enable them to fulfil the remit.

Page 8

British Association of Stroke Physicians

Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

Clinical Standards Subcommittee

Areas of work have included:

National CEA review completed Website page for peer review drafted

Comments have been submitted for the following:

Stroke GIRFT Report Neuro GIRFT Report NICE Stroke Rehab Guideline draft RCSLT Risk Feeding Draft Guidance

Trainee Subcommittee

The trainee committee prepared a workforce redeployment survey to accertain how effected trainee education and progression has been affected by COVID-19.

The 2020 trainee weekend was held virtually, with over 200 attendees and 3 exhibiting companies. The feedback was excellent and it has been decided that the meeting will continue to be held virtually.

Bursaries and competitions

Warlow Prize

The winner of the BASP Warlow Prize 2020 was awarded a certificate and receives support to attend the annual conference of the European Stroke Conference in order to present their prize-winning research.

BASP President’s Award

In celebration of the British Association of Stroke Physicians’ 20th Anniversary in 2019, BASP introduced an annual ‘President’s Award’ to reward excellence in clinical standards (including clinical practice and/ or quality improvement), training and education, and/ or research related to Stroke Medicine.

BASP members are asked to nominate a UK Stroke Physician, who is a BASP member, and demonstrates excellence in clinical standards (including clinical practice and/or quality improvement), training and education, and/ or research related to Stroke Medicine.

BASP Medical Student Essay Prize

Entrants must submit 250-word case report on a patient they have seen or been involved with that has suffered a stroke and they have an important message to tell. The prize for the winner is free attendance at the BASP Trainees’ meeting with the opportunity to present their case.

Page 9

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

Financial review

The charity's incoming resources for the year were £103,088 (2020: £93,223) mainly comprising subscription income of £87,346 (2020: £40,720) and UKSF conference registrations of £3,657 (2020: £52,033). Spending in support of charitable activities was £110,808 (2020: £112,774). Support related costs were £64,613 (2020: £61,889). Governance fees were £4,143 (2020: £2,220). Net deficit for the year of £7,720 (2020: net deficit £19,551).

Reserves and funds carried forward at 31 March 2021 were £257,607 (2020: £265,327).

Reserves policy

Currently BASP is required to retain a significant liquid capital reserve to be able to discharge its obligations in underwriting the UK Stroke Forum (see below) without jeopardizing its other activities.

Investment policy

The Honorary Treasurer shall deposit or invest any funds which are not immediately required for the Company's activities in such investments as may be considered appropriate (and to dispose of, and vary, such investments) which may include investing in one or more collective investment scheme(s), such as unit trusts, open ended investment companies or common investment funds for charities. In keeping with the BASP strategy aims any such investments will be scrutinized to ensure these are compatible climate sustainability.

Risk management

The Trustees annually review the risks that the charity faces. To date these have mainly related to the Association's joint underwriting of the UK Stroke Forum. This is the premier educational academic and clinical stroke conference in the UK. It seeks to bring together members from medicine, nursing, the therapies and other healthcare professionals to share knowledge and enhance practice in stroke medicine. The conference costs are very high (approximately £500,000) and BASP is liable for underwriting a substantial proportion should conference income fail to cover these costs. Large conference venue bookings are made for three years at a time to take advantage of favorable rates of hire, but with the effect that the Association is committed to its share of the costs for up to three years at a time, increasing the amount of liquidity demanded of the charity's reserves. In 2020, there was the added risk of the event being hosted virtually, this did produce a small surplus for BASP.

Future plans

The Association remains strategically committed to furthering its broad objectives by whatever appropriate means in accordance with its charitable status. The profile of stroke medicine in the UK has risen sharply, supported by political initiatives such as the English National Stroke Strategy and the equivalent policy documents in the devolved nations of the UK. With this rising profile is a corresponding demand upon the Association to put forward the views of the profession to political bodies, other healthcare professions and the wider public; to liaise with an increasing number of interested national bodies; to support and develop the scientific credibility of the practice of stroke medicine; and to improve the training of physicians in stroke medicine. These demands will continue or increase in the years to come, drawing on the financial and other resources of the Association.

Page 10

British Association of Stroke Physicians Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) For the year ended 31 March 2021

Trustee’s responsibilities statement:

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for the period. In preparing these financial statements, the trustees are required to:

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

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption. The trustee’s annual report was approved on and signed on behalf of the board of trustees by: ‐

Elizabeth Warburton Treasurer

20 January 2022

Page 11

British Association of Stroke Physicians Company Limited by Guarantee Independent examiner’s report For the year ended 31 March 2021

I report to the charity trustees on my examination of the financial statements of the Charity for the year ended 31 March 2021.

Respective responsibilities of trustees and examiner

As the charity’s trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s qualified statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 12

British Association of Stroke Physicians Company Limited by Guarantee Independent examiner’s report (continued) For the year ended 31 March 2021

Use of our report

This report is made solely to the charitable company’s members and the trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our examination has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an independent examiner’s 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, the charitable company’s members and trustees as a body, for our examination, for this report, or for the opinions we have formed.

Kenneth McDowell CA Saffery Champness LLP Chartered Accountants

24 January 2022

Edinburgh Quay 133 Fountainbridge Edinburgh EH3 9BA

Page 13

British Association of Stroke Physicians

Statement of Financial Activities (including Income and Expenditure account) For the year ended 31 March 2021

Notes
Income and endowments
3
Charitable activities
4
Total income
Expenditure on:
British Association of Stroke Physicians
5
Total expenditure
Net (expenditure)/income
Transfers between funds
Total funds brought forward
Total funds carried forward
9		 Unrestricted
funds
£
-
103,088
103,088
110,808
110,808
(7,720)
-
265,327
257,607		 Total funds
2021
£
-
103,088
103,088
110,808
110,808
(7,720)
-
265,327
257,607		 Total funds
2020
£
460
92,762
93,223
112,774
112,774
(19,551)
-
284,878
265,327

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Page 14

British Association of Stroke Physicians

Statement of financial position

For the year ended 31 March 2021

Current assets
Notes
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due within one year
8
Net current assets
Total assets less current liabilities
Net assets
Funds of the charity
Unrestricted funds
9		 £
2021
£
15,371

312,917
328,288

70,681

257,607
257,607

257,607

257,607

257,607		 £
2020
£
29,878
295,380
325,258

59,931

265,327
265,327

265,327

265,327

265,327		 £
2020
£
29,878
295,380
325,258

59,931

265,327
265,327

265,327

265,327

265,327
265,327

265,327

265,327

265,327

For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of trustees and authorised for issue on 20 January 2022 and are signed on its behalf by:

Professor Rustam Al‐Shahi Salman

Trustee & President Company Registration No. 06853971

Page 15

British Association of Stroke Physicians

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting Policies

Company information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England. The address of the registered office is 71 Queen Victoria Street, London, England, EC4V 4BE.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - Charities SORP (FRS 102), the 2020 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

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

1.2 Going Concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Income and expenditure

Income representing membership subscriptions, interest and branch income receivable is accounted for on an accruals basis. Donations and gift aid claims are recognised on receipt of proceeds.

Resources expended are included in the statement of financial activities on an accruals basis.

All costs have been directly attributed to one of the functional categories of resources expended in the statement of financial activities as follows:

Charitable activities

These are costs relating to expenditure on preserving and maintaining the assets of the charity and the associated trade.

Other expenditure

These are costs associated with the running of the regional branches of the charity.

1.4 Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Page 16

British Association of Stroke Physicians

Notes to the financial statements

For the year ended 31 March 2021

1.5 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as 'creditors: amounts falling due within one year' if payment is due within one year or less. If not, they are presented as 'creditors: amounts falling due after more than one year'. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6 Fund accounting

The funds of the charity are held in unrestricted and restricted funds. Unrestricted funds represent funds which can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds represent funds which must be used in accordance with the specific objectives that were laid out by those parties providing the funds to the charity.

Page 17

British Association of Stroke Physicians

Notes to the financial statements

For the year ended 31 March 2021

1. Accounting Policies (continued)

1.7 Taxation

The company is a registered charity and is not liable for United Kingdom income tax or corporation tax on charitable activities.

2. Limited by guarantee

British Association of Stroke Physicians is a company limited by guarantee and accordingly does not have share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

3. Income from donations and legacies

3. Income from donations and legacies
Donations
Paypal giving
Membership subscriptions
Conference
Trainee conference
4. Charitable activities		 2021
£
-		 2020
£
460
- 460
2021
£
87,346
3,657
12,085		 2020
£
40,720
52,043
-
103,088 92,762

Page 18

British Association of Stroke Physicians

Notes to the financial statements

For the year ended 31 March 2021

5. Expenditure on charitable activities

5. Expenditure on charitable activities
Charitable activities
Conference
Secretarial expenses
Travel & subsistence
Subscriptions
Awards
Consultancy
Events
Advertising
Website
Trainee conference
Donations
Insurance
Printing, postage, advertising & stationery
Share of support costs
Share of governance
Note 6
Support costs
Bank charges
Professional fees
Administrative costs
Bookkeeping
Fees payable to the independent examiner for:
Independent examination of the financial statements
Trade debtors
Prepayments
6. Independent examination fees
7. Debtors		 2021
£
18,744
-
-
1,320
-
-
-
252
5,500
15,287
-
647
301
64,613
4,143		 2020
£
-
10,800
6,149
294
-
1,050
2,775
18,888
4,022
-
3,000
462
1,225
61,889
2,220
110,808 112,774
597
1,500
52,063
10,453		 708
3,914
39,341
17,926
64,613 61,889
2021
£		 2020
£
4,143 2,220
2021
£
14,911
460		 2020
£
2,288
27,590
15,371 29,878

Page 19

British Association of Stroke Physicians

Notes to the financial statements

For the year ended 31 March 2021

8. Creditors: amounts falling due within one year

8. Creditors: amounts falling due within one year
Trade creditors
Accruals & deferred income
Analysis of deferred income account
Memberships
Conference receipts		 2021
£
20,894
49,788		 2020
£
9,995
49,935
70,681 59,931
27,924
18,744		 39,780
9,028
46,668 48,808

During the year brought forward deferred income of £48,808 was released to the statement of financial activities and a further £46,668 of income was deferred.

9. Analysis of charitable funds

9. Analysis of charitable funds
Unrestricted funds
General funds		 As at 1 April 2020
Income
Expenditure
£
£
£
265,327
103,088
(110,808)		 As at 31
March 2021
£
257,607
265,327
103,088
(110,808)		 257,607

10. Transactions with trustees

No trustees received remuneration in the year.

Travel and subsistence expenses reimbursed to trustees or paid directly to third parties totalled £Nil (2020: £7,059).

11. Analysis of net assets between funds

11. Analysis of net assets between funds
Current assets
Creditors less than 1 year
Net assets		 Unrestricted
funds
£
328,288
(70,681)		 Total Funds
2021
£
328,288
(70,681)
257,607 257,607

Comparative analysis of net assets between funds for prior year

Current assets
Creditors less than 1 year
Net assets		 Unrestricted
funds
£
325,258
(59,931)		 Total Funds
2020
£
325,258
(59,931)
265,327 265,327

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British Association of Stroke Physicians

Notes to the financial statements

For the year ended 31 March 2021

12. Comparative Statement of Financial Activities for the year ended 31 March 2020

12. Comparative Statement of Financial Activities for the year ended 31 March 2020
Income and endowments
Donations and legacies
Charitable activities
Total income
Expenditure on:
Expenditure on charitable activities
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
-
76,239		 Total funds
2020
£
460
92,762
76,239 93,223
49,215 112,774
49,215 112,774
27,024 (19,551)
- -
27,024
257,854		 (19,551)
284,878
284,878 265,327

13. Company limited by guarantee

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up while he or she is a member, or within one year after he or she ceases to be a member, is limited to £1.

14. Post balance sheet events and going concern

Subsequent to the year end the charity, like many entities throughout the UK, continues to be affected by the COVID-19 pandemic.

At the date of approval, the trustees have prepared and approved up to date management accounts, and have also considered future cash flow including key income and cost assumptions that the trustees consider reasonable and prudent.

Having considered the matters above the trustees are of the view that, at the date of approval of the financial statements, the charity will have sufficient resources to continue to operate and meet debts as they fall due for the foreseeable future. The financial statements have therefore been drawn up on a going concern basis.

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