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 2025
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 12|
|Independent Auditors' Report|13 to 17|
|Statement of Financial Activities|18|
|Balance Sheet|19|
|Statement of Cash Flows|20|
|Notes to the Financial Statements|21 to 32|
## **Association of Breast Surgery**
## **Reference and Administrative Details**
|**Trustees**|Miss L Chagla (Chair to 19/05/2025)|
|---|---|
||Prof J Benson (to 19/05/2025)|
||Miss K Cox|
||Miss S Down|
||Ms S Downey (Chair from 19/05/2025)|
||Mrs K Ellis|
||Mr D Ferguson (to 19/05/2025)|
||Miss T Irvine|
||Mrs I Karat|
||Prof C Kirwan|
||Mr Y Masannat|
||Mr S Thrush|
||Miss R Vidya|
||Prof L Wyld|
||Mrs R James (from 19/05/2025)|
||Mr H Cain (from 19/05/2025)|
||Miss C Courtney (from 19/05/2025)|
|**Senior Management /**|Ms L Davies, Chief Operating Officer|
|**Leadership Team**||
|**Registered Office**|The Royal College Of Surgeons|
||38-43 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 Flagstone 1st Floor, Clareville House 26-27 Oxendon Street London SW1Y 4EL **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, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2025.
## **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 regards to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
## _**Membership**_
The membership of the Association continues to increase and now numbers 2399. There are 713 full members, 1227 nurse members, 189 Mammary Fold senior members, 62 Mammary Fold junior members, 42 Mammary Fold non deanery members, 8 non-surgical interspecialty members, 97 overseas members, 43 senior retired members, 5 affiliate members and 13 honorary members. ABS offers free membership to nurses and trainees of ST3 and below. It offers reduced membership fees to senior trainees and surgeons from low and middle income countries. Having been held for two years, the subscriptions were increased slightly in 2025 to cover inflationary increases in the ABS’ expenditure.
The ABS Service Agreement with BASO ~ ACS remains unchanged and the ABS continues to subscribe its members to the EJSO through BASO ~ ACS. It also continues to offer ESSO affiliate membership to its members for an additional fee.
ABS members, who pay a subscription, continue to benefit from reduced delegate fees for the ABS Conference and most ABS courses and events. The ABS also offers free access to its webinars for members, as well as the ability to watch the webinars and talks from the ABS Conference back via its website.
A members’ area has now been set up on the ABS website. Members can now access their details online, make changes to their membership record and also download receipts for their subscriptions and event registrations. The area also provides tailored content to the members about ABS events and projects.
Page 3
## **Association of Breast Surgery**
## **Trustees' Annual Report**
## _**Events and Courses**_
The ABS continues to deliver its programme of course and events. This has expanded in recent years, but there have also been concerns about the delegate numbers at some of its events, so the trustees continue to actively review its educational offering.
In September 2025 the ABS ran a Practical Ultrasound for Breast Surgeons course for the first time. This proved to be very popular. It was also intended to run a Fundamental Breast Skills course in 2025 for early years trainees. This did not recruit well and was cancelled ahead of the event. The Medico-Legal Symposium, which was due to run in London in November, also suffered the same issues and was cancelled ahead of the event. Parts of this course have been recorded and will be provided as an online resource for ABS members. There were also three ABS events, which ran, but with lower numbers of delegates than in previous years; the Nursing Conference, the Trainees Meeting and the Advanced Skills in Breast Disease Management. A review of the ABS’ course and events has been carried out and consideration is being given to the timing, frequency, duration and venues for all its portfolio of course and events. OOPS, Levels 1 and 2 Specialty Skills in Breast Surgery, the Advanced Implant Based Breast Reconstruction course and the Breast Augmentation course all ran with the expected number of delegates in 2025.
In addition the Mammary Fold continues to run its Pre-ABS Meeting and its Communication Skills Course. The ABS currently supports the running of these events and the trustees are looking at ways to collaborate further with the Mammary Fold on its programme of events.
In January 2025 the ABS ran its MDT Meeting at the QEII Centre in London again. It was on the theme of the axilla and was attended by nearly 300 multidisciplinary delegates.
The ABS Conference was held at the ICC Birmingham in 2025. The booking was carried forward from 2021 when the ABS Conference was held online due to the pandemic. It was attended by 900 delegates and attracted good sponsorship, with 43 companies attending. The sponsorship income remains vital to the financial success of the meeting and enables the ABS to offer discounted registration fees to members and provide bursaries for nurses, medical students and delegates from low and middle income countries to attend the event. 25 bursaries in total were awarded, providing free registration and a grant towards travel and accommodation.
In 2025 the ABS also ran a Global Health Symposium on the day prior to the ABS Conference. This event was well attended and was subsidised by the profit made from the CoBrCa meeting in 2024. The event was not intended to be annual and consideration is being given as to whether it should be a separate event in future or whether themed sessions should be incorporated in the main Conference programme.
The ABS Conference was again delivered by its Professional Conference Organiser (PCO), Profile Productions, in 2025. The ABS’ Chief Operating Officer is responsible for selling the exhibition stands and sponsorship packages. She continues to work closely with the PCO in order to deliver all aspects of the Conference. The programme for the Conference has input from the ABS’ committees through the Conference Working Group.
The Trustees continue to review the ABS’ courses and events on a regular basis. In addition, the course directors meet annually to review their courses. There are a number of challenges being addressed; venue costs are increasing at rates above inflation, many members seem to be struggling to access study leave and budgets to attend events and there are a wide range of courses and events being provided by other organisations.
Page 4
## **Association of Breast Surgery**
## **Trustees' Annual Report**
## _**Committees**_
There are six permanent committees of the ABS. These are Academic & Research, Aesthetic Breast Surgery, Clinical Practice & Standards, Education and Training, International and Nursing. The International Committee had no face to face meetings in 2025 and the other committees had two virtual and two face to face meetings. It is felt that a mix of meeting formats promotes attendance and participation in the committees. The committee dinner was again held in 2025. This event supports networking across the committees now that the committees can no longer all meet on the same day.
The Aesthetic Committee continues to promote the role of ABS members in the provision of aesthetic breast surgery. The ABS submitted written evidence to the Women and Equalities Committee about cosmetic procedures but were disappointed not to have been asked to give evidence in person as complications resulting from cosmetic breast procedures are an increasing burden on breast clinics in the UK. The ABS has written to the clerk of the committee to highlight breast surgeons’ and nurses’ roles in managing this caseload. The committee continues to look at ways to support training and mentorship. It is also looking at ways of auditing the impact of cosmetic complications on breast services and providing good quality patient information.
The Academic & Research Committee continues to administer the ABS Research Grants, which are awarded annually. Three grants were awarded in 2025, one of which was supported by Prevent Breast Cancer. The committee is also looking at how it supports trials and audit, as well as how new techniques and technologies are safely introduced into clinical practice.
The Clinical Practice & Standards Committee is the forum for feedback from the full members to the ABS. This is submitted by the Regional Representatives and is reviewed ahead of time, with the key issues being discussed in the meetings. The committee reviewed and updated the guidelines on the ABS Information Hub in 2025 and is currently looking to update a number of existing ABS guidelines. The guidance on phyllodes tumours was published in 2025 as was job planning guidance for consultant surgeons. Guideline groups are currently working on new guidance on the management of the axilla, inflammatory breast cancer and the male breast cancer and gynaecomastia. Guidance on care of trans and gender-diverse individuals in breast services will be published in the first half of 2026.
The Education and Training Committee continue to oversee the training needs of the members and the courses portfolio. The first of the new online CPD tests have been developed and will be available to the members early in 2026. In 2025 it was confirmed that the TIG Oncoplastic Breast Surgery training posts would not be funded after 2026. The committee is looking at ways to support good quality training for breast trainees in the absence of these posts. The committee also continues to look at ways to support breast trainees in accessing the surgical opportunities they need to meet the requirements of the breast curriculum.
The International Committee has been working on developing its terms of reference and outlining a code of practice by which it can support future overseas projects. The ABS has been progressing its work on two Global Health Partnerships grants in 2025. One was progressing the long standing project in Zimbabwe to establish three breast clinics in Matabeleland South. To date 6 fellows have visited the UK to be trained in ultrasound and other techniques. A short extension to this grant was awarded in November 2025, but the funding will cease in 2026 and at present it is unclear as to whether further funding will be available. The second project was to establish a global breast cancer training package, initially focusing on Zambia and Uganda. 19,000 women have now undergone screening and breast examination as a result of this project and data is being collected to assess the effectiveness and outcomes of the programme.
Page 5
## **Association of Breast Surgery**
## **Trustees' Annual Report**
The Nursing Committee’s focus in 2025 was its workforce survey. This was circulated to all members and over 150 good quality responses were received. It is hoped that the data will help inform the committee as to what roles are being undertaken by nurses, what training and supervision they are receiving and the main challenges they are facing. It is hoped that this information will inform job planning guidance for nurses in the near future. Following a drop in the number of attendees at the ABS Nursing Conference in the last two years, the committee is also looking at how best to deliver educational content to the nurse members.
## _**Other ABS projects and contributions**_
The ABS regional meetings continue to be a useful way to keep members updated as to the work the ABS is undertaking on their behalf and also to provide educational updates. In 2025 meetings were held in the Scotland, South West, Eastern, London and Merseyside & North West. Some regions are yet to hold their first meeting and efforts are being made to give all members access to these educational meetings.
The ASPIRE (Breast Pain Pathway Rapid Evaluation) project has been ongoing throughout 2025. Additional funding was provided to enable analysis of the data by a statistician and the first results will be presented at the ABS Conference in 2026.
The ABS fellow continues to work, as part of the team in the Royal College of Surgeon’s Clinical Effectiveness Unit, on the NAoPRI and NAoME audits. The ABS also part-funds the two breast Surgical Specialty Lead posts. They are planning on creating stronger links to the Mammary Fold Academic Committee in 2026 and it is intended to hold a joint meeting in September.
The ABS awarded lifetime achievement awards for the first time in 2025. The recipients were nominated by the membership and the awards were made at the ABS Conference. At the same time the Mammary Fold awarded its Trainer of the Year prize. Both awards will be run again in 2026.
Page 6
## **Association of Breast Surgery**
## **Trustees' Annual Report**
## **Financial review**
Detailed financial statements are set out on pages 18 to 32. Income in 2025 totalled £1,250,358 (2024 - £1,146,045) and expenditure totalled £1,408,653 (2024 - £1,144,292), resulting in a deficit in 2025 of £158,295 (2024 - surplus £1,753). As noted in this report the ABS has expanded its team of staff and has also made two considerable grant awards to projects, which are still ongoing and this has led to increases in its expenditure. It has also incurred some costs in this financial year on courses and events, which were cancelled. The courses and events programme for 2026/2027 has been reviewed in light of this.
The ABS holds its funds in Lloyds Bank and the Flagstone IM investment platform. The use of the investment platform allows the ABS to hold its reserves securely, whilst also ensuring that it receives a good rate of interest on it. The money is held in a mix of fixed term, notice and instant access accounts to ensure that the funds are available when needed, but the return on the ABS’ reserves is maximised.
In June 2025 the ABS moved onto dual authorisation of all payments. The Honorary Treasurer now co-authorises payments in the online banking platform, as well as approving the bills on Xero, the accountancy software used by the ABS. The ABS’ risk register is reviewed annually.
The budget is reviewed annually by the trustees and the subscriptions for approval by the AGM are set based on the predicted ABS overheads. The ABS’ staff and office overheads continue to be higher than the subscriptions income. The shortfall is covered from the profit made by the ABS Conference, events and courses. The trustees continue to monitor this position to ensure that the annual income meets expenditure. As three of the four staff members regularly input to the running of the courses and events portfolio it is felt appropriate that some of their overheads are covered from this income rather than from the subscriptions. It is proposed to start charging the Nurse Members a small subscription and consideration is being given as to when to implement this.
## _**Policy on reserves**_
The reserves policy is reviewed annually and has been changed to state that the ABS should hold up to £400,000 in reserve, with an additional £100,000 being available to fund suitable projects. Total funds held at the year end amounted to £599,826 of which £23,816 were restricted, £91,223 designated and £484,787 general unrestricted. Free reserves at 31 December 2025, being general unrestricted funds, less those represented by fixed assets, totalled £460,705. The Trustees continue to monitor the level of reserves held to ensure that they meet the stated levels. Consideration is being given to the funding of other projects in future.
Page 7
## **Association of Breast Surgery**
## **Trustees' Annual Report**
## **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.
## _**Organisational structure**_
The trustees meet as the Executive Board (EB) on a regular basis in order to progress the Association’s work. The chairs of all six committees report into the EB, as do the Honorary Officers. The EB reviews the Association’s financial position and confirms the new members’ applications.
New trustees are appointed by means of a call for nominations and then an election if there is more than one candidate. An electronic ballot is run by Civica, with full and senior retired members being given four weeks to cast their vote. The President holds an induction session with new trustees and a handover is also held with the outgoing post holder. Trustees are encouraged to undergo media training during their term and this is now being run every 12-18 months to facilitate this.
Trustees sit on each of the ABS’ six committees and each committee is allocated to a specific member of staff, who provides administrative support.
The ABS also has a number of working groups inputting to the conference, courses, developing guidance and progressing overseas projects. These all report into the relevant committee as required.
Page 8
## **Association of Breast Surgery**
## **Trustees' Annual Report**
## _**Association staff and office**_
The ABS team was made up of four full time members of staff in 2025. The ABS Conference continues to be organised by the PCO, Profile Productions, with the Chief Operating Officer acting as the main link with them and providing necessary oversight.
The Chief Operating Officer also oversees the day to day running of the Association in liaison with the Honorary Officers. The other three staff members oversee the course and events portfolio, membership and communications.
The ABS staff continue to work in a hybrid model. They now work three days per week in the office at the Royal College of Surgeons of England. The ABS has desk space for each member of staff, to support good team working. The current desk licences are due to be renewed in May 2026 and the Royal College of Surgeons of England has notified that there will be an increase in the cost of each licence in the region of 25%. The ABS has free access to meeting rooms as part of their agreements with RCS England, which means that its face to face committee meetings can be held without payment of a room hire charge. The storage space in the Barry Building of RCS England continues to be limited and the ABS retains some items in off site storage. The volume of items held in storage is decreasing year on year due to increasing use of electronic records management.
The ABS continues to award its staff an annual pay increase in line with CPI.
The main business of the Association is discussed by the committees and at Executive Board meetings. Day to day work is progressed by e-mail, telephone and video conferencing. All staff members are provided with a laptop and mobile phone to facilitate hybrid working. The ABS’ IT is provided by the Royal College of Surgeons of England.
## **Risk Statement**
The Trustees have considered the major risks to which the charity is exposed. Systems and procedures have been established to manage those risks. The risks register is reviewed annually and amended as required.
Page 9
## **Association of Breast Surgery**
## **Trustees' Annual Report**
## _**Plans for future periods**_
The ABS has agreed to fund two additional fellows. It will contribute towards the cost of a GIRFT Breast Surgery Fellow, who will use the GIRFT data to look at quality improvements in patient outcomes and service efficiency. The post will be for one year initially and the ABS’ contribution will be in the region of £30,000.
The ABS is also looking to support a breast research collaborative research coordinator post. This will also be for one year initially and the appointed individual will coordinate trainee collaborative meetings and all trainee collaborative research; providing the secretarial and managerial infrastructure to support trainees across the UK to undertake research science.
The trustees are looking to develop an overarching strategy for all aspects of the ABS’ work. It is hoped that this will facilitate decision making as to which projects the ABS supports in future, and also to enable the trustees to plan what work it wants to undertake in the short, mid and long term.
The ABS President, Sarah Downey, has met with the chair of the All Party Parliamentary Group for Breast Cancer to discuss the new Cancer Plan. It is hoped that the ABS will be able to increase its links to key organisations and charities in order to be able to advocate for its members and improve standards of breast cancer care for patients.
The ABS is appointing health inequity representatives on all its committees and is looking to develop its work to support access for all to breast services both in the UK and internationally. It has created a new section on its website and will share examples of good practice with the membership. The Trustees continue to be concerned about the dropping rates of attendance within the NHS Breast Screening Programme, the changes to the audit of screen detected breast cancers and the alterations to the QA processes for screening units in the UK. It will also continue to support the Sloane Project. The Trustees continue to engage with NHS England and others in relation to the provision of the screening programme in the UK.
The ABS continues to review the benefits of membership. Its website provides access to guidance, a publications library and webcasts from previous events for its members. It is also providing regular updates to its members; a monthly general bulletin, a research bulletin and regular courses and events updates. The ABS Conference has venues booked through to 2030, with the event moving around the country to support regular access to it by all members. Future venues include, ICC Wales, ACC Liverpool, the Bournemouth International Centre and ICC Birmingham.
Page 10
## **Association of Breast Surgery**
## **Trustees' Annual Report**
## **Statement of Responsibilities**
The trustees (who are also the directors of 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. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019 (FRS102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, have been followed and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can 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.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditor is unaware; and
• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 11
## **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 15 June 2026 and signed on their behalf by:
......................................... Mr H Cain Trustee
Page 12
## **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 2025, 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:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **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 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 13
## **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. Our opinion on the financial statements does not cover the other information and 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:
- the information given in the Trustees' Annual Report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities (set out on page 11), 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 14
## **Association of Breast Surgery**
## **Independent Auditor's Report to the Trustees of Association of Breast Surgery**
## **Auditor responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (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:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows; • The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by; • Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud.
To address the risk of fraud through management bias and override of controls, we;
•Performed analytical procedures to identify any unusual or unexpected relationships
•Tested journal entries to identify unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
•Agreeing financial statement disclosures to underlying supporting documentation
•Reading the minutes of meetings of those charged with governance
•Enquiring of management as to actual and potential litigation and claims.
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.
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## **Association of Breast Surgery**
## **Independent Auditor's Report to the Trustees of Association of Breast Surgery**
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company’s internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
- Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (ie gives a true and fair view).
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.
Page 16
## **Association of Breast Surgery**
## **Independent Auditor's Report to the Trustees of Association of Breast Surgery**
## **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: 17 June 2026
Edmund Carr LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
Page 17
## **Association of Breast Surgery**
## **Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account)**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Investment income
4
Total income
**Expenditure on:**
Charitable activities
5
Total expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
15|**Unrestricted**
**£**
2,940
1,205,066
29,202
1,237,208
1,354,515
1,354,515
(117,307)
2,921
(114,386)
690,396
576,010|**Restricted**
**£**
13,150
-
-
13,150
54,138
54,138
(40,988)
(2,921)
(43,909)
67,725
23,816|**Total**
**2025**
**£**
16,090
1,205,066
29,202
1,250,358
1,408,653
1,408,653
(158,295)
-
(158,295)
758,121
599,826|**Total**
**2024**
**£**
61,488
1,049,017
35,540|
|---|---|---|---|---|
|||||1,146,045|
|||||1,144,292|
|||||1,144,292|
|||||1,753
-|
|||||1,753
756,368|
|||||758,121|
All of the charitable company's activities derive from continuing operations during the above two periods.
Page 18
## **Association of Breast Surgery**
## **(Registration number: 7207053) Balance Sheet as at 31 December 2025**
|**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
11
**Creditors: Amounts falling due within one year**
12
**Net current assets**
**Net assets**
**Funds of the charitable company:**
**Restricted income funds**
Restricted funds
15
**Unrestricted income funds**
Unrestricted funds
Designated funds
Total unrestricted funds
**Total funds**
15|**2025**
**£**
24,082
208,387
748,364
956,751
(381,007)
575,744
599,826
23,816
484,787
91,223
576,010
599,826|**2024**
**£**
32,109
237,128
731,043|
|---|---|---|
|||968,171
(242,159)|
|||726,012|
|||758,121|
|||67,725
526,030
164,366|
|||690,396|
|||758,121|
For the financial year ending 31 December 2025 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 is subject to an audit under the Charities Act 2011.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with FRS102.
The financial statements on pages 18 to 32 were approved by the trustees, and authorised for issue on 15 June 2026 and signed on their behalf by:
.........................................
Mr H Cain Trustee
Page 19
## **Association of Breast Surgery**
## **Statement of Cash Flows for the Year Ended 31 December 2025**
|**Note**
**Cash flows from operating activities**
Net (expenditure)/income
**Adjustments:**
Depreciation
Investment income
4
**Working capital adjustments**
Decrease/(increase) in debtors
10
Increase in creditors
12
(Decrease)/increase 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
9
Net cash flows from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December|**2025**
**£**
(158,295)
8,027
(29,202)
(179,470)
28,741
152,168
(13,320)
(11,881)
29,202
-
29,202
17,321
731,043
748,364|**2024**
**£**
1,753
6,467
(35,540)|
|---|---|---|
|||(27,320)
(110,961)
67,485
7,646|
|||(63,150)|
|||35,540
(24,620)|
|||10,920|
|||(52,230)
783,273|
|||731,043|
All of the cash flows are derived from continuing operations during the above two periods.
Page 20
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **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 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.
## _**Deferred income**_
Deferred income represents delegate and trade fees received for future events (conferences and courses) and is released to incoming resources in the period in which the events takes place.
Page 21
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## _**Investment income**_
Investment income relates to interest receivable on bank deposits and is accounted for on an accruals basis.
## **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 unless conditions linked to the award are yet to be met. 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 22
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **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.
## **2 Income from donations and legacies**
|Donations receivable
Grants receivable|**Unrestricted**
**funds**
**£**
-
2,940
2,940|**Restricted**
**funds**
**£**
3,150
10,000
13,150|**Total**
**2025**
**£**
3,150
12,940
16,090|**Total**
**2024**
**£**
5,532
55,956|
|---|---|---|---|---|
|||||61,488|
Page 23
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
In 2024 donations receivable were split between £61,488 being restricted and £Nil being unrestricted. In 2024 grants receivable were split between £55,956 being restricted and £Nil being unrestricted.
## **3 Income from charitable activities**
|Events and courses delegate
fees
Events and courses trade fees
Other conference income
Members' subscriptions|**Unrestricted**
**funds**
**£**
499,984
454,550
700
249,832
1,205,066|**Restricted**
**£**
-
-
-
-
-|**Total**
**2025**
**£**
499,984
454,550
700
249,832
1,205,066|**Total**
**2024**
**£**
420,747
364,357
27,641
236,272|
|---|---|---|---|---|
|||||1,049,017|
All income from charitable activities in 2024 was unrestricted.
## **4 Investment income**
|Interest receivable on bank
deposits|**Unrestricted**
**funds**
**£**
29,202|**Restricted**
**funds**
**£**
-|**Total**
**2025**
**£**
29,202|**Total**
**2024**
**£**
35,540|
|---|---|---|---|---|
Interest receivable in 2024 was unrestricted.
Page 24
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **5 Expenditure on charitable activities**
|**Note**
**Unrestricted**
**funds**
**£**
**Events costs:**
Venue, catering & accommodation
474,908
Speaker expenses
31,015
Audio visual costs
45,356
Printing, postage & stationery
5,262
Other direct conference costs
112,319
ABS conference event organiser
35,750
704,610
**Membership costs:**
EJSO Journal costs
19,990
ESSO membership subs
2,607
22,597
**Grants and awards:**
Fellowships and awards
6,350
Research grants
95,000
101,350
**Other charitable expenditure:**
Surgical Specialty Lead
30,000
Yearbook expenditure
6,342
Other charitable projects
11,072
ASPIRE Project
19,028
66,442
**Support costs**
6
443,222
**Governance costs**
6
16,294
1,354,515|**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
3,000
3,000
-
-
51,138
-
51,138
-
-
54,138|**Total**
**2025**
**£**
474,908
31,015
45,356
5,262
112,319
35,750
704,610
19,990
2,607
22,597
6,350
98,000
104,350
30,000
6,342
62,210
19,028
117,580
443,222
16,294
1,408,653|**Total**
**2024**
**£**
327,636
26,754
47,144
6,179
88,511
34,078|
|---|---|---|---|
||||530,302|
||||19,640
2,463|
||||22,103|
||||5,137
98,000|
||||103,137|
||||-
8,165
14,539
53,220|
||||75,924
394,764
18,062|
||||1,144,292|
All research grants were awarded to institutions to support research projects. Research grants includes the grant for the NATCAN audit fellow.
In 2024 total expenditure was split between £9,016 being restricted and £1,135,276 being unrestricted.
Page 25
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **6 Analysis of governance and support costs**
|**Charitable activities expenditure**
Trustee & committee costs
Staff costs
Other staff costs & training
Staff recruitment
Trustee media training
Office, Trustee & event
insurance
Printing, postage & stationery
IT, telephone & website costs
HR
Sundry & office running
expenses
Rent
Legal & professional fees
Depreciation, amortisation and
other similar costs
Irrecoverable VAT
**Governance costs**
Audit fees
Audit of the financial
statements
Other fees paid to auditors
Bank charges
Other governance costs|**Unrestricted**
**funds**
**£**
41,398
246,390
3,569
-
-
5,864
2,756
31,200
1,250
1,123
15,576
81
8,027
85,988
443,222
**Unrestricted**
**funds**
**£**
4,421
8,842
806
2,225
16,294|**Restricted**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**Restricted**
**funds**
**£**
-
-
-
-
-|**Total**
**2025**
**£**
41,398
246,390
3,569
-
-
5,864
2,756
31,200
1,250
1,123
15,576
81
8,027
85,988
443,222
**Total**
**2025**
**£**
4,421
8,842
806
2,225
16,294|**Total**
**2024**
**£**
30,664
214,539
1,640
5,600
3,000
8,735
645
23,032
1,250
535
12,578
48
6,467
86,031|
|---|---|---|---|---|
|||||394,764|
|||||**Total**
**2024**
**£**
4,698
9,396
2,153
1,815|
|||||18,062|
Page 26
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **7 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 £3,509 (2024: £3,913) were reimbursed to 12 Trustees (2024: 11) during the period.
## **8 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2025**
**£**
208,535
16,625
21,230
246,390|**2024**
**£**
182,650
15,344
16,545|
|---|---|---|
|||214,539|
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:
||**2025**|**2024**|
|---|---|---|
||**No**|**No**|
|Administrative|4.00|3.92|
The number of employees whose emoluments fell within the following bands was:
|£90,001 - £100,000|**2025**
**No**
1|**2024**
**No**
1|
|---|---|---|
The total employee benefits of the key management personnel of the charitable company were £98,163 (2024 - £101,548). This included remuneration in respect of 66 hours of paid overtime (2024 - 178 hours).
Page 27
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **9 Tangible fixed assets**
|**Cost**
At 1 January 2025
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for the year
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024
**10 Debtors**
Trade debtors
Prepayments
Accrued income
**11 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**
**£**
53,228||**Total**
**£**
58,492
58,492
26,383
8,027
34,410
24,082
32,109
**2024**
**£**
15,660
144,418
77,050|
|---|---|---|---|---|---|
||5,264||53,228|||
||5,264
-||21,119
8,027|||
||5,264||29,146|||
||-||24,082|||
||-||32,109|||
||||**2025**
**£**
42,329
150,498
15,560
208,387
**2025**
**£**
748,364|||
||||||237,128|
||||||**2024**
**£**
731,043|
Page 28
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **12 Creditors: amounts falling due within one year**
|**12 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 2025
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end|**2025**
**£**
-
12,796
5,316
54,308
82,097
226,490
381,007
**2025**
**£**
95,417
82,097
(95,417)
82,097|**2024**
**£**
1,188
8,949
1,118
33,487
95,417
102,000|
|||242,159|
|||**2024**
**£**
87,771
95,417
(87,771)|
|||95,417|
Deferred income relates to trade and delegate fees received in advance for events held after the year end.
## **13 Obligations under leases**
## **Operating lease commitments**
Total future minimum lease payments under non-cancellable operating leases are as follows:
|**Other**
Within one year|**2025**
**£**
8,500|**2024**
**£**
11,354|
|---|---|---|
## **14 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 2025**
## **15 Funds**
|**Balance at**
**1 January**
**2025**
**£**
**_Unrestricted funds_**
General unrestricted funds
526,030
**_Designated funds_**
a) Mammary Fold Trainees
Group
16,796
b) Support for RCS Surgical
Specialty Lead
15,000
c) Educational Fellowships
13,100
d) ASPIRE Project
44,470
e) NATCAN audit fellow
75,000
164,366
**Total Unrestricted**
690,396
**Restricted**
f) International Forum
3,973
g) Research development
grant fund
50
h) Zimbabwe project Global
Health Partnerships
55,956
i) Matabeleland South
Project
7,746
**Total restricted**
67,725
**Total funds**
758,121|**Incoming**
**resources**
**£**
1,219,703
17,505
-
-
-
-
17,505
1,237,208
-
3,150
10,000
-
13,150
1,250,358|**Resources**
**expended**
**£**
(1,235,031)
(10,456)
(15,000)
-
(19,028)
(75,000)
(119,484)
(1,354,515)
-
(3,000)
(51,138)
-
(54,138)
(1,408,653)|**Transfers**
**£**
(25,915)
-
30,000
-
(1,164)
-
28,836
2,921
(2,202)
-
3,676
(4,395)
(2,921)
-|**Balance at**
**31**
**December**
**2025**
**£**
484,787
23,845
30,000
13,100
24,278
-|
|---|---|---|---|---|
|||||91,223|
|||||576,010|
|||||1,771
200
18,494
3,351|
|||||23,816|
|||||599,826|
Page 30
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
|**_Unrestricted funds_**
General unrestricted funds
**_Designated funds_**
a) Mammary Fold
Trainees Group
b) Support for RCS
Surgical Specialty Lead
c) Educational Fellowships
d) ASPIRE Project
e) NATCAN audit fellow
**Total unrestricted funds**
**Restricted**
f) International Forum
g) Research development
grant fund
h) Zimbabwe project
Global Health Partnerships
i) Matabeleland South
Project
j) Overseas bursary
**Total restricted funds**
**Total funds**|**Balance at**
**1 January**
**2024**
**£**
473,801
20,636
10,000
13,100
72,578
150,000
266,314
740,115
3,973
50
-
11,230
1,000
16,253
756,368|**Incoming**
**resources**
**£**
1,074,887
9,670
-
-
-
-
9,670
1,084,557
-
3,000
55,956
2,532
-
61,488
1,146,045|**Resources**
**expended**
**£**
(983,546)
(13,510)
(10,000)
-
(53,220)
(75,000)
(151,730)
(1,135,276)
-
(3,000)
-
(6,016)
-
(9,016)
(1,144,292)|**Transfers**
**£**
(39,112)
-
15,000
-
25,112
-
40,112
1,000
-
-
-
-
(1,000)
(1,000)
-|**Balance at**
**31**
**December**
**2024**
**£**
526,030
16,796
15,000
13,100
44,470
75,000|
|---|---|---|---|---|---|
||||||164,366|
||||||690,396|
||||||3,973
50
55,956
7,746
-|
||||||67,725|
||||||758,121|
Page 31
## **Association of Breast Surgery**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
The specific purposes for which the funds are to be applied are as follows:
a) Money held on behalf of the Mammary Fold Trainees Group.
b) Support for the Royal College of Surgeons Surgical Specialty Lead.
c) Funds allocated for educational fellowships.
d) A national platform evaluation study of breast pain pathways. Money is funding two clinical leads and a research assistant.
e) Funding provided for one fellow to work on two audits being undertaken by the RCS Clinical Effectiveness Unit. Work started in Autumn 2024 for a period of two years.
f)The International Forum raised funds and were the recipients of fundraising that are restricted for their charitable and educational projects.
g) Prevent Breast Cancer and other donations received towards ABS's research grant programme. h) Project to achieve the earlier detection, diagnosis and treatment of patients developing breast cancer in the Matabeleland South and Bulawayo Metropolitan Provinces of Zimbabwe.
i) Project to establish three pilot breast clinics in Matabeleland South in Zimbabwe. j) A donation to fund an individual as part of an overseas bursary.
## **16 Analysis of net assets between funds**
## _**Current year:**_
## **Unrestricted**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets|**General**
**£**
24,082
841,712
(381,007)
484,787|**Designated**
**£**
-
91,223
-
91,223|**Restricted**
**£**
-
23,816
-
23,816|**Total funds**
**2025**
**£**
24,082
956,751
(381,007)|
|---|---|---|---|---|
|||||599,826|
## _**Prior year:**_
## **Unrestricted**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets|**General**
**£**
32,109
736,080
(242,159)
526,030|**Designated**
**£**
-
164,366
-
164,366|**Restricted**
**£**
-
67,725
-
67,725|**Total funds**
**2024**
**£**
32,109
968,171
(242,159)|
|---|---|---|---|---|
|||||758,121|
## **17 Related party transactions**
There were no related party transactions in the year.
Page 32