OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Company registration number: 7207053 Charitable company registration number: 1135699

Association of Breast Surgery

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 December 2020

Edmund Carr LLP Chartered Accountants & Statutory Auditor 146 New London Road Chelmsford Essex CM2 0AW

Association of Breast Surgery

Contents

Reference and Administrative Details 1 to 2
Trustees' Annual Report 3 to 11
Independent Auditors' Report 12 to 15
Statement of Financial Activities 16
Balance Sheet 17
Statement of Cash Flows 18
Notes to the Financial Statements 19 to 33

Association of Breast Surgery

Reference and Administrative Details

Trustees Miss J Doughty (Chair)
Prof J Benson
Miss L Chagla
Prof R Cutress
Ms S Downey
Prof P Drew (demitted 15 June 2020)
Mr A Gandhi
Prof C Holcombe
Mrs S Holcombe
Miss M Mullan
Mr S Narayanan
Miss N Roche
Mr D M Sibbering (demitted 15 June 2020)
Miss A Tansley
Mr D Ferguson (appointed 15 June 2020)
Senior Management Team Ms L Davies, Association Manager
Principal Office The Royal College Of Surgeons
35-43 Lincoln's Inn Fields
London
WC2A 3PE
The charitable company is incorporated in England and Wales.

Page 1

Association of Breast Surgery

Reference and Administrative Details

Company Registration Number 7207053 Charitable company 1135699 Registration Number Bankers Lloyds Bank Plc 25 Gresham Street London EC2V 7HN Nationwide International Ltd 5-11 St Georges Street Douglas IM99 1RN Virgin Money Savings Jubilee House Gosforth Newcastle upon Tyne NE3 4PL Manchester Building Society 125 Portland Street Manchester M1 4QD Auditor Edmund Carr LLP Chartered Accountants & Statutory Auditor 146 New London Road Chelmsford Essex CM2 0AW

Page 2

Association of Breast Surgery

Trustees' Annual Report

The trustees, who are directors for the purposes of company law, have pleasure in presenting their report and the audited financial statements and auditor's report for the charity for the year ended 31 December 2020.

Objectives and activities

Objects and aims

The Charity’s objects are restricted specifically to the following:

  1. to advance the practice of breast surgery for the benefit of the public; and

  2. to advance education, research and training in relation to breast conditions and breast surgery for the benefit of the public

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements and performance

Membership

The ABS’ membership continues to grow and currently totals 1,737. There are 619 full members and 166 senior trainees are ABS members. Free membership is offered to nurses working in the UK and Ireland and early years breast surgery trainees. Reduced membership fees are paid by overseas members in low and middle income countries and senior years trainees.

The trustees continue to evaluate the membership benefits offered in order to ensure that membership offers good value for money. In 2020 it obtained sponsorship to ensure that its webinar series could be provided for free to ABS members.

Events and Courses

Due to the Covid-19 pandemic it proved impossible to run many of the planned events in 2020. The Level 1 and Level 2 Cadaveric Courses were run successfully in February. However all other events and courses had to be cancelled because of the pandemic. The ABS trustees felt it was vital to continue to support its members with educational content during the pandemic and ran a series of 3 Covid-19 webinars in May & June and then monthly webinars after that. In addition it supported the running of monthly Mammary Fold webinars for breast trainees.

Page 3

Association of Breast Surgery

Trustees' Annual Report

Committees

The ABS has five active committees; Academic & Research, Clinical Practice & Standards, Education & Training, Aesthetic Breast Surgery and the International Forum. As it has been impossible to meet in person for much of 2020, the committees have met by video conference.

The Academic & Research Committee continues to badge and endorse new trials and offer research development grants. It is also working with the James Lind Alliance to complete a priority setting partnership for breast cancer surgery. This consults with patients and clinicians to identify the key areas for future research. It is working with iBRA-NET to look at how new techniques and devices are introduced and assessed. This is an ongoing project but the need for it has been emphasised by the recommendations of the Cumberlege Review.

The Clinical Practice & Standards Committee (CPSC) has played an important role in supporting ABS members during the Covid-19 pandemic. It has assessed the situation across the UK throughout the year by the reports it receives from the Regional Representatives. This committee and the Executive Board have produced clear guidance from the ABS in relation to how its members should manage and prioritise patients during the pandemic. It has also worked with the Royal College of Surgeons of England (RCSE) and the Federation of Specialty Surgical Associations (FSSA) to support safe and equitable guidance in surgical prioritisation for patients during the pandemic. In addition, the CPSC worked with national bodies to look at breast referrals and to try to establish safe and supportive pathways for the management of breast pain. The Committee has produced and updated guidance as required and a number of updates of ABS guidelines will be issued in 2021, having been worked on throughout 2020.

The Education and Training Committee (ETC) is responsible for the ABS’ portfolio of breast courses, many of which were postponed in 2020 due to the pandemic. It has been evaluating how these courses can be run if social distancing is still in place and consideration has been given to whether aspects of the courses could be delivered online. The pandemic affected breast trainees in many ways, with many being redeployed or not being able to access the operating theatre experience they would normally expect to receive as part of their training. In addition, exams have been cancelled and courses postponed. The ETC assisted the Mammary Fold in setting up and running a series of webinars to support trainees throughout the year. The committee continues to work with the GMC Curriculum Advisory Group on the introduction of the new breast surgery curriculum, which was postponed due to the pandemic. It is also continuing to work with the JCST and the Curriculum Advisory Group to explore the option of a breast specialty curriculum and the implications this would have on trainees and the delivery of emergency General Surgery.

The Aesthetic Breast Surgery committee did not meet in 2020 because of the Covid-19 pandemic, which affected the delivery of aesthetic surgery in the private setting. Members of the committee have been working on developing new oncoplastic, ADM and lipomodelling guidance and this will be published in 2021. A call for expressions of interest has been circulated for new committee members and it is hoped the committee can meet more regularly in 2021 to progress its workstreams.

Page 4

Association of Breast Surgery

Trustees' Annual Report

The International Forum has continued to meet online in 2020 and has also held network meetings online, which have been well attended by the members. Its needs analysis project, funded by THET, in Bulawayo, Zimbabwe, was able to continue during the pandemic and the report is in the process of being published. This identifies a number of issues in relation to the diagnosis and treatment of women with breast cancer in Zimbabwe. The planned course in Uganda in the summer of 2020 had to be cancelled, but the International Forum has been continuing to look at ways of providing education in low and middle income countries by working with the University of East Anglia to provide an online course for nurses and healthcare workers to promote awareness and understanding of breast cancer symptoms to improve diagnosis and treatment.

Other ABS projects and contributions

The ABS is increasingly using digital communication to correspond with its members and this has increased because of lack of access to the office in 2020. The ABS is aware though that some members do not seem to receive e-mail communication and that many NHS e-mail addresses have changed in recent years. It is in the process of contacting members to ask them to check and confirm the details the ABS holds for them in order to improve access to its e-mail bulletins and other communications.

Page 5

Association of Breast Surgery

Trustees' Annual Report

Association Staff and Office

The ABS’ staff have been working from home since mid-March due to the Covid-19 pandemic. Due to various changes in IT provision in recent years, including the use of a cloud server and laptops, this was a relatively seamless transition and the ABS has continued to function well.

During restructuring in 2019 it had been decided that the ABS would employ a professional conference organiser, Profile Productions, to run its annual conference and that the ABS would employ only 3 staff (2 full time, 1 part time) rather than the 4 (2 full time, 2 part time) it had employed between November 2017 and January 2019. This was to provide better cover for the conference workload and to ensure that the remaining ABS workload could be balanced better between staff and throughout the year.

As a result of the pandemic the 2020 ABS Conference did not go ahead and an agreement was reached with Profile Productions as to the work they had undertaken in relation to the conference. They have been employed again to run the 2021 ABS Conference. The trustees will continue to review the workload of the Association in order to ensure there is adequate staffing and cover to deliver the work of the Association.

In 2020 the ABS staff have produced a series of operations manuals, which set down the key aspects of the running of the Association. These will be reviewed annually in order to ensure that they are kept up to date and so are available if cover is required for absent staff or for staff training. They have already been used as part of the handover between trustees.

The ABS Office is still located in the Nuffield Building of the Royal College of Surgeons England (RCSE). A refund of part of the service charge was paid for the first lockdown period, when the College was closed, but similar refunds have not been made for the subsequent lockdowns since the College has remained accessible even if Government advice has been for staff not to travel for work unless strictly necessary.

The redevelopment of the Barry Building at the RCSE has continued during the pandemic and it is still anticipated that the recant to the newly developed building will take place in May 2021. The RCS has made assurances that if necessary this can be done in a Covid-secure way, even though the office space is open plan. The ABS trustees continue to evaluate its office accommodation requirements and it is anticipated that staff will be able to work from home more in future. The trustees continue to evaluate the cost of rental against the value of being located within the RCSE. However it is felt that a base is still necessary and that time in the office will enhance team working.

It is intended to digitise many of the remaining paper records. However that process has been held up by lack of access to the office and appropriate scanning equipment in 2020. Once the staff return to the office this will be prioritised. It is anticipated that some of the ABS’ archive, including the accountancy documents which it has a legal responsibility to hold onto for 6 years, may need to be stored off site after the recant. In future many more of the ABS’ accountancy records will be held online and so it is anticipated that the storage requirement for these will decrease over time. The ABS will ensure that all records continue to be stored in a GDPR compliant way and in secure locations.

Page 6

Association of Breast Surgery

Trustees' Annual Report

The ABS continues to share an office space with BASO ~ ACS, but has made further efforts in 2020 to separate off other functions. The two Association’s databases were separated off in 2020 as were their servers.

Financial review

The cancellation of ABS’ 2020 Conference and other events in 2020 presented the ABS with a challenge as its financial model is now to meet its annual running costs from both the subscriptions and also its courses and events.

When it became apparent that the ABS Conference and other courses and events would need to be cancelled in 2020 a thorough review of the likely year end position was undertaken and it became apparent that the ABS would be able to see out any short term losses thanks to the reserves it holds in line with its reserves policy.

The situation was improved by the sponsorship it sought and obtained for its webinar series, which were run in house and also by other refunds and savings which were made. Refunds were obtained from the HQ hotel in Bournemouth and for most of the travel booked for speakers. The Bournemouth International Centre carried forward the booking to 2024 without penalty. Other savings have been made during the year. Online meetings have saved money on travel expenses and it may be that the ABS wishes to consider in future whether to use virtual meetings more than they did before the pandemic.

The ABS was able to award the research development grants it had proposed for 2020 but did not award its educational travelling fellowships. The 2019 recipients of these awards have not been able to complete their proposed fellowships as yet and it seemed unlikely that any awards made in 2020 would be able to be fulfilled in the near future.

As we move into 2021 the ABS has received a refund of its deposit from the QEII Centre in London for the MDT Meeting which was due to be held there in January and continues to work with the ICC Birmingham in relation to the contract to hold the ABS Conference there in May 2021 which, of course, may not be possible. The Trustees are exploring all options to minimise any costs that the Association may be forced to bear. The ABS trustees are mindful that the position still remains very uncertain as to when events will be able to restart as face to face meetings and that it has contracts with various venues to hold its ABS Conference through to 2024.

The ABS trustees met monthly from April to December 2020 and reviewed their finances at these meetings. Detailed assessments of the likely year end position were undertaken in April and September. The trustees continue to carefully monitor the Association’s financial position and will allocate funds to projects in 2021 based on these reviews.

It was decided in 2020 that the ABS should use an online management platform to enable it to invest its funds more effectively and to ensure that FSCS protection was available to more of its funds at any one time. The Association is in the process of moving its reserves to Flagstone IM, which provides a platform to invest funds across different banks and building societies. The day to day funds will continue to be held in two Lloyds bank accounts.

Page 7

Association of Breast Surgery

Trustees' Annual Report

Policy on reserves

The reserves policy of the Association remains unaltered and states that the ABS should hold £300,000 in reserves. The need for this policy has been tested during the pandemic and it was felt that it provided adequate cover should the ABS’ income decrease. The trustees will continue to assess the level of reserves it requires and will update the policy if it is felt its financial requirements have changed. It is still the position that the ABS is required to make prepayments in relation to its conferences, events and courses and so a proportion of its reserves continue to represent these deposits and are not held as cash in the bank. These deposits currently amount to more than £100,000.

At the end of the year the charitable company held general unrestricted funds of £417,750, designated funds of £72,859 and restricted funds of £7,521.

Plans for future periods

Aims and key objectives for future periods

Due to the ongoing pandemic the ABS trustees have not allocated funds as they would normally have done for 2021 and continue to review their financial position. They are considering requests on a case by case basis and will produce a budget for 2022 in the near future in order to set the subscriptions for approval at the AGM in May. It is hoped that by the mid year point it will be clearer what the position is with regards the resumption of events and the income the ABS will be able to achieve from its events in 2021. At that point the trustees will consider more generally what monies can be allocated to support the work of its committees for the rest of the year.

Structure, governance and management

Nature of governing document

The Association of Breast Surgery was established as a company limited by guarantee (Company number 7207053 and Registered as Charity 1135699) on the 1st July 2010 and constituted under a Memorandum and Articles of Association.

Page 8

Association of Breast Surgery

Trustees' Annual Report

Organisational structure

The ABS continues to focus on how it can support and engage its members. Calls for nominations for trustees and regional representative posts and calls for expressions of interest for committee posts are circulated to all relevant members. Interest in these posts generally remains high and in 2020 over 50% of the full and senior retired members voted in the trustee elections for the first time. The ABS will continue to strive to ensure that all of its members feel their needs and expectations are being met. In particular the ABS is looking at how it can provide better support for its nurse members. The Breast Nurse Advisory Board is looking at ways to meet their professional and educational needs as well as support their role and career progression.

The day to day administration of the Association continues to be overseen by the Association Manager in liaison with the Honorary Officers. Areas of work, including the courses portfolio, are managed by the Senior Administrator and the day to day membership work is largely undertaken by the Membership and Registrations Administrator. During the pandemic staff have continued to meet virtually on a weekly basis and have undertaken online training where necessary.

The main business of the Association is discussed by the committees and at the Executive Board. Decisions in between times are made by telephone or e-mail communication between the Honorary Officers, Trustees and committee members. Video conferencing has been used during the pandemic for meetings and for working groups to progress work such as guideline writing.

In 2020 the ABS approved a more detailed and up to date risk register and this will be reviewed annually at its strategy day. In 2020 the Executive Board met more regularly and consideration will be given to whether this model should continue after the pandemic to maintain the effectiveness of the Association. The trustees review the reserves policy annually, unless a more urgent review is required, and there is an annual review of the controls over key financial systems carried out through an internal audit programme. The issues with regards income streams from events have been carefully considered in the past year but no other major risks have been identified by the trustees. The trustees pay due regard to the Charity Commission’s guidance on public benefit when deciding what activities the Charity should undertake.

Remuneration for all staff is set by the Board of Trustees and this was formalised in 2020 with the setting of clearer pay scales and a more standardised system for annual pay awards. The system does however allow the trustees to consider these in light of the Association’s financial position and alter these if required.

Page 9

Association of Breast Surgery

Trustees' Annual Report

Statement of Responsibilities

The trustees (who are also the directors of the Association of Breast Surgery 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 give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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 irregularities.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

In so far as the trustees are aware:

Page 10

Association of Breast Surgery

Trustees' Annual Report

Compliance with prevailing laws and regulations

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published on 16 July 2014.

This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

The annual report was approved by the trustees of the charitable company on 17 May 2021 and signed on its behalf by:

......................................... Mr D Ferguson Trustee

Page 11

Association of Breast Surgery

Independent Auditor's Report to the Trustees of Association of Breast Surgery

Opinion

We have audited the financial statements of Association of Breast Surgery (the 'charitable company') for the year ended 31 December 2020, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Page 12

Association of Breast Surgery

Independent Auditor's Report to the Trustees of Association of Breast Surgery

Other Information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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 course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters 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 opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 10), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 13

Association of Breast Surgery

Independent Auditor's Report to the Trustees of Association of Breast Surgery

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under 154 of that Act.

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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Page 14

Association of Breast Surgery

Independent Auditor's Report to the Trustees of Association of Breast Surgery

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 Reports) 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 auditor’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 and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Edmund Carr LLP Statutory Auditor

146 New London Road Chelmsford Essex CM2 0AW

Date: 27 May 2021

Edmund Carr LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Page 15

Association of Breast Surgery

Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
4
Other income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
16		 Unrestricted
£
4,288
341,326
1,112
1,933
348,659
349,279
349,279
(620)
(620)
491,229
490,609		 Restricted
£
3,150
-
-
-
3,150
9,517
9,517
(6,367)
(6,367)
13,888
7,521		 Total
2020
£
7,438
341,326
1,112
1,933
351,809
358,796
358,796
(6,987)
(6,987)
505,117
498,130		 Total
2019
£
35,663
796,786
2,493
1,548
836,490
798,897
798,897
37,593
37,593
467,524
505,117

All of the charitable company's activities derive from continuing operations during the above two periods.

Page 16

Association of Breast Surgery

(Registration number: 7207053) Balance Sheet as at 31 December 2020

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
12
Creditors: Amounts falling due within one year
13
Net current assets
Net assets
Funds of the charitable company:
Restricted income funds
Restricted funds
16
Unrestricted income funds
Unrestricted funds
Total funds
16		 2020
£
7,322
117,118
462,357
579,475
(88,667)
490,808
498,130
7,521
490,609
498,130		 2019
£
4,247
72,732
607,388
680,120
(179,250)
500,870
505,117
13,888
491,229
505,117

For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies but as this company is a charity, it has opted for an audit under the Charities Act 2011.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with FRS 102.

The financial statements on pages 16 to 33 were approved by the trustees, and authorised for issue on 17 May 2021 and signed on their behalf by:

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

Mr D Ferguson Trustee

Page 17

Association of Breast Surgery

Statement of Cash Flows for the Year Ended 31 December 2020

Note
Cash flows from operating activities
Net (expenditure)/income
Adjustments:
Depreciation
Investment income
4
Working capital adjustments
(Increase)/decrease in debtors
11
(Decrease)/increase in creditors
13
Decrease in deferred income
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
4
Purchase of tangible fixed assets
10
Net cash flows from investing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 2020
£
(6,987)
1,888
(1,112)
(6,211)
(44,386)
(51,764)
(38,819)
(141,180)
1,112
(4,963)
(3,851)
(145,031)
607,388
462,357		 2019
£
37,593
1,416
(2,493)
36,516
58,487
34,567
(11,129)
118,441
2,493
-
2,493
120,934
486,454
607,388

All of the cash flows are derived from continuing operations during the above two periods.

Page 18

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Association of Breast Surgery 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.

Going concern

The trustees have considered the impact of the covid-19 pandemic in their assessment of the charity’s ability to prepare accounts as a going concern. Because of the uncertainties surrounding the effects of the economic slowdown it is difficult to predict the impact on the charity and its members, but having taken all the factors into account, the trustees are of the opinion that the charity has sufficient resources to continue trading for the next 12 months from the date of signing these accounts.

Income and endowments

Income from conferences held during the year is accounted for on an accruals basis. Income from annual membership subscriptions is accounted for as received.

Donations and legacies

Donations are recognised when the charitable company has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charitable company before the charitable company is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charitable company and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the Charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Page 19

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Investment income

Bank interest in recognised when received.

Expenditure

All expenditure is accounted for on an accruals basis. Fellowships and awards are accounted for in the period in which they are notified to the recipient. Governance costs are associated with the governance arrangements of the Charity.

Charitable activities

Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

Governance costs

These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees' meetings.

Taxation

The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Major expenditure on tangible fixed assets is capitalised. The cost of other items is written off as incurred.

Page 20

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

Depreciation and amortisation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class Computer equipment Fixtures & fittings

Depreciation method and rate 25% reducing balance 25% reducing balance

Trade debtors

Trade and other debtors are recognised at the settlement amount due.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand, bank accounts and bank deposits.

Trade creditors

Creditors are recognised at their settlement amount.

Fund structure

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designated funds – these are funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.

Restricted funds – these are funds that are given to the Charity for use in a particular area or for a specific purpose, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charitable company operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charitable company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 21

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

2 Income from donations and legacies

Donations receivable
Grants receivable
Sponsorship		 Unrestricted
funds
£
4,288
-
-
4,288		 Restricted
funds
£
3,150
-
-
3,150		 Total
2020
£
7,438
-
-
7,438		 Total
2019
£
19,553
8,610
7,500
35,663

In 2019 sponsorship income was restricted and donations and grants receivable were unrestricted.

3 Income from charitable activities

Events and courses delegate fees
Events and courses trade fees
Corporate sponsorship of
conferences
Members' subscriptions		 Unrestricted
funds
£
32,985
117,000
-
191,341
341,326		 Restricted
£
-
-
-
-
-		 Total
2020
£
32,985
117,000
-
191,341
341,326		 Total
2019
£
409,027
199,195
12,000
176,564
796,786

All income from charitable activities in 2019 was unrestricted.

Page 22

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

4
Investment income
Unrestricted
funds
£
Interest receivable on bank
deposits
1,112
Interest receivable in 2019 was unrestricted.
5
Other income
Unrestricted
funds
£
Payment for distribution of literature
-
Other
1,933
1,933		 Restricted
funds
£
-
Restricted
funds
£
-
-
-		 Total
2020
£
1,112
Total
2020
£
-
1,933
1,933		 Total
2019
£
2,493
Total
2019
£
1,502
46
1,548

Other income in 2019 was unrestricted.

Page 23

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

6 Expenditure on charitable activities

Events costs:
Venue, catering &
accommodation costs
Speaker expenses
Audio visual costs
Printing, postage &
stationery
Other direct conference
costs
ABS Conf - Event
Organiser
Membership costs:
EJSO Journal costs
ESSO membership
subs
Grants and awards:
Fellowships and
awards
Research grants		 Unrestricted
funds
£
44,042
5,131
2,891
3,071
8,576
24,000
87,711
11,123
2,259
13,382
-
25,039
25,039		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
3,150
3,150		 Total
2020
£
44,042
5,131
2,891
3,071
8,576
24,000
87,711
11,123
2,259
13,382
-
28,189
28,189		 Total
2019
£
252,318
38,304
30,237
21,988
55,201
-
398,048
10,207
1,330
11,537
5,000
60,141
65,141

Page 24

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

Other charitable
expenditure:
Surgical Specialty Lead
Yearbook expenditure
Other charitable
projects
THET Grant
Expenditure
Support costs
7
Governance costs
7		 Unrestricted
funds
£
5,000
-
1,186
-
6,186
205,359
11,602
349,279		 Restricted
funds
£
-
-
-
6,367
6,367
-
-
9,517		 Total
2020
£
5,000
-
1,186
6,367
12,553
205,359
11,602
358,796		 Total
2019
£
5,000
6,018
7,112
1,275
19,405
289,708
15,058
798,897

All other grants and awards were paid to institutions to support research projects. In 2019 fellowships and awards totalling £5,000 were paid to individuals.

Page 25

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

7 Analysis of governance and support costs

Charitable activities expenditure

Trustee, Council & Committee costs
Staff costs
Other staff costs & training
Office, Trustee & event insurance
Printing, postage & stationery
IT, telephone & website costs
HR
Sundry & office running expenses
Rent
Legal & professional fees
Depreciation and loss on disposal of
fixed assets
Irrecoverable VAT		 Unrestricted
funds
£
8,684
138,731
219
1,952
8,277
12,493
1,250
457
5,687
2,345
1,888
23,376
205,359		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2020
£
8,684
138,731
219
1,952
8,277
12,493
1,250
457
5,687
2,345
1,888
23,376
205,359		 Total
2019
£
34,997
146,146
2,610
4,191
7,480
16,275
1,250
1,239
6,370
9,580
1,416
58,154
289,708

Governance costs

Governance costs
Audit fees
Audit of the financial statements
Other fees paid to auditors
Bank charges
Other governance costs		 Unrestricted
funds
£
2,700
6,355
727
1,820
11,602		 Restricted
funds
£
-
-
-
-
-		 Total
2020
£
2,700
6,355
727
1,820
11,602		 Total
2019
£
2,520
7,572
450
4,516
15,058

Page 26

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

8 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charitable company during the year.

Trustees are reimbursed reasonable travel and subsistence expenses incurred when acting on behalf of the charity.

Expenses totalling £1,867 (2019: £10,552) were reimbursed to 9 Trustees (2019: 13) during the period.

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2020
£
118,573
8,742
11,416
138,731		 2019
£
125,206
11,058
9,882
146,146

The monthly average number of persons (including senior management team) employed by the charitable company during the year expressed by head count was as follows:

2020
No
Administrative
3
The number of employees whose emoluments fell within the following bands was:
2020
No
£70,001 - £80,000
1
£90,001 - £100,000
-		 2019
No
3
2019
No
-
1

The total employee benefits of the key management personnel of the charitable company were £79,263 (2019 - £105,100).

Page 27

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

10 Tangible fixed assets

Cost
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
11 Debtors
Prepayments
VAT recoverable
Other debtors
12 Cash and cash equivalents
Cash at bank		 Furniture and
equipment
£
5,264
-
5,264
5,264
-
5,264
-
-		 Furniture and
equipment
£
5,264
-
5,264
5,264
-
5,264
-
-		 Computer
equipment
£
10,321
4,963		 Total
£
15,585
4,963
20,548
11,338
1,888
13,226
7,322
4,247
2019
£
66,725
-
6,007
5,264 15,284
5,264
-		 6,074
1,888
5,264 7,962
- 7,322
- 4,247
2020
£
114,745
2,373
-
117,118
2020
£
462,357
72,732
2019
£
607,388

Page 28

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

13 Creditors: amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income
Accruals for grants payable
Deferred income at 1 January 2020
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2020
£
139
3,526
3,762
6,335
47,576
27,329
88,667
2020
£
86,395
47,576
(86,395)
47,576		 2019
£
14,264
14,326
1,865
6,114
86,395
56,286
179,250
2019
£
97,524
86,395
(97,524)
86,395

14 Obligations under leases

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Within one year 2020
£
1,327		 2019
£
1,327

15 Charitable company status

The charitable company is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charitable company in the event of liquidation.

Page 29

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

16 Funds

Current year:

Unrestricted funds
General unrestricted funds
Designated funds
a) Mammary Fold Trainees
Group
b) Support for RCS Surgical
Specialty Lead
c) DCIS margin review
d) Professional Advice
e) Educational Fellowships
f) James Lind Alliance
application
g) Support and development
funds
Total Unrestricted
Restricted
i) THET fund
j) International Forum
k) Research development
grant fund
Total restricted
Total funds		 Balance at
1 January
2020
£
421,595
684
2,500
10,000
18,950
4,000
10,000
23,500
69,634
491,229
7,335
6,553
-
13,888
505,117		 Incoming
resources
£
344,459
-
-
-
-
100
-
4,100
4,200
348,659
-
-
3,150
3,150
351,809		 Resources
expended
£
(343,304)
(5,000)
-
-
-
-
(975)
-
(5,975)
(349,279)
(6,367)
-
(3,150)
(9,517)
(358,796)		 Transfers
£
(5,000)
5,000
-
-
-
-
-
-
5,000
-
-
-
-
-
-		 Balance at
31
December
2020
£
417,750
684
2,500
10,000
18,950
4,100
9,025
27,600
72,859
490,609
968
6,553
-
7,521
498,130

Page 30

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

Prior year:
Unrestricted funds
General unrestricted funds
Designated funds
a) Mammary Fold Trainees
Group
b) Support for RCS Surgical
Specialty Lead
c) DCIS margin review
d) Professional Advice
e) Educational Fellowships
f) James Lind Alliance
application
g) Support and development
funds
Total unrestricted
Restricted
i) THET fund
j) International Forum
k) Research development
grant fund
Total restricted
Total funds		 Balance at
1 January
2019
£
466,685
839
-
-
-
-
-
-
839
467,524
-
-
-
-
467,524		 Incoming
resources
£
808,327
-
-
-
-
-
-
-
-
808,327
8,610
6,553
13,000
28,163
836,490		 Resources
expended
£
(784,467)
(155)
-
-
-
-
-
-
(155)
(784,622)
(1,275)
-
(13,000)
(14,275)
(798,897)		 Transfers
£
(68,950)
-
2,500
10,000
18,950
4,000
10,000
23,500
68,950
-
-
-
-
-
-		 Balance at
31
December
2019
£
421,595
684
2,500
10,000
18,950
4,000
10,000
23,500
69,634
491,229
7,335
6,553
-
13,888
505,117

Page 31

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

The specific purposes for which the funds are to be applied are as follows:

c) Grant to support DCIS margin review

d) Funds set aside for professional advice with BAAPS and BAPRAS

e) Funds allocated for educational fellowships

g) Support and development funds have been allocated to support iBRa Net, Clinical Practice and Standards Committee, International Forum, Course Portfolio development, Medical School Champions and Breast Nurse Advisory Board.

h) Surplus held in relation to the Oncoplastic Trainees Meetings.

i) THET provided a grant for a needs assessment project in Bulawayo.

j) The International Forum raised funds and were the recipients of fundraising that are restricted for their charitable and educational projects.

k) Prevent Breast Cancer and other donations received towards ABS's research grant programme.

17 Analysis of net assets between funds

Current year:

Unrestricted

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Prior year:
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 General
£
Designated
£
7,322
-
499,095
72,859
(88,667)
-
417,750
72,859
Unrestricted
General
£
Designated
£
4,247
-
596,598
69,634
(179,250)
-
421,595
69,634		 Restricted
£
-
7,521
-
7,521
Restricted
£
-
13,888
-
13,888		 Total funds
2020
£
7,322
579,475
(88,667)
498,130
Total funds
2019
£
4,247
680,120
(179,250)
505,117

Page 32

Association of Breast Surgery

Notes to the Financial Statements for the Year Ended 31 December 2020

18 Related party transactions

There were no related party transactions in the year.

19 Taxation

The charitable company is a registered charity and is therefore exempt from taxation.

Page 33