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REGISTERED COMPANY NUMBER: 07326046 (England and Wales) REGISTERED CHARITY NUMBER: 1138385
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
FOR
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
Johnson Tidsall Limited Chartered Accountants 81 Burton Road Derby Derbyshire DE1 1TJ
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 30 September 2021. The trustees have adopted the provisions of 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 (FRS102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the Society are:-
To promote for the public benefit the education of those involved in the field of coronary angloplasty, cardiac valvuloplasty and other interventional cardiovascular procedures ("the Field") and
To protect, promote and maintain the health and safety of the community by carrying out medical research in the Field and helping to maintain and raise standards of care in the Field.
In setting the objectives of the company and planning its activities the trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
BCIS continues to pursue its objectives in education, training, research and supporting the development of the care of patients with cardiovascular disease. The society's long standing national meeting - Advanced Cardiovascular Intervention - goes from strength to strength and attracted more delegates then ever. Additional educational meetings through the year attend to the educational needs of trainees and allied health professionals.The remit of the advanced meeting has been expanded beyond coronary intervention and we now provide education on a wide range of other issues such as structural heart disease intervention and service organisation.
FINANCIAL REVIEW
Financial position
The funding of the charity's activities during the year has been conducted wholly from income received during the current and previous years, unrestricted funds have increased by £80,074 during the year.
Investment policy and objectives
The trustees' policy is to invest funds in easy access and low risk bank accounts.
Reserves policy
At the year end the Society has unrestricted reserves of £364,826 (2020: £284,752).
The trustees consider this level of resources sufficient to cover immediate expenditure requirements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The British Cardiovascular Intervention Society was incorporated on 26 July 2010 as a company limited by guarantee and registered with the Charity Commission on 12 October 2010.
The Society is governed by its Memorandum and Articles of Association.
Recruitment and appointment of new trustees
Trustees are appointed by ordinary members as per the Articles of Association.
The council may appoint a trustee to fill a vacancy or as an additional trustee. A trustee so appointed holds office only until the next annual general meeting.
Organisational structure
The charity is administered and managed by a council, who are directors of the charity, in accordance with the governing document.
Induction and training of new trustees
No formal trustee induction and training procedures have been adopted.
Page 1
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management
The trustees confirm that the major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems established to mitigate the risk.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07326046 (England and Wales)
Registered Charity number 1138385
Registered office Unit 8 Midland Court Lutterworth LEICESTER LE17 4PN
Trustees
Professor N P Curzen (Director) Dr C E Appleby (Director) Dr D G W Fraser (Director) Dr D McKenzie (Treasurer)
Professor P MacCarthy Dr P Ludman (Audit Secretary) Dr D Muir Professor R Kharbanda Dr G Clesham Professor C Berry Dr S Nijjer
Independent Examiner Johnson Tidsall Limited Chartered Accountants 81 Burton Road Derby Derbyshire DE1 1TJ Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Professor N P Curzen - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
Independent examiner's report to the trustees of British Cardiovascular Intervention Society ('the Company') I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Richard Minns FCA Institute of Chartered Accountants in England & Wales Johnson Tidsall Limited Chartered Accountants 81 Burton Road Derby Derbyshire DE1 1TJ
Date: .............................................
Page 3
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 35,803 Charitable activities Cardiovascular care 189,800 Investment income 3 272 Total 225,875 EXPENDITURE ON Charitable activities Cardiovascular care 144,766 Other 1,035 Total 145,801 NET INCOME 80,074 RECONCILIATION OF FUNDS Total funds brought forward 284,752 TOTAL FUNDS CARRIED FORWARD 364,826 |
2020 Total funds £ - 359,237 857 |
|---|---|
| 360,094 323,732 - |
|
| 323,732 | |
| 36,362 248,390 |
|
| 284,752 |
The notes form part of these financial statements
Page 4
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
BALANCE SHEET 30 SEPTEMBER 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 7 19,665 CURRENT ASSETS Debtors 8 144 Cash at bank 349,917 350,061 CREDITORS Amounts falling due within one year 9 (4,900) NET CURRENT ASSETS 345,161 TOTAL ASSETS LESS CURRENT LIABILITIES 364,826 NET ASSETS 364,826 FUNDS 10 Unrestricted funds 364,826 TOTAL FUNDS 364,826 |
2020 Total funds £ - 11,804 277,678 289,482 (4,730) 284,752 284,752 284,752 284,752 284,752 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
N P Curzen - Trustee
The notes form part of these financial statements
Page 5
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
1. STATUTORY INFORMATION
British Cardiovascular Intervention Society is a private company limited by guarantee and a charity, registered in England and Wales. The registered company and charity numbers, and the principal office address can be found under the reference and administrative details in the Report of the Trustees.
The presentation currency of the financial statements is the Pound Sterling (£)
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements have also been prepared in accordance with the Charities Act 2011.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is accounted for on a receivable basis. There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.
Expenditure
All expenditure is accounted for on an accruals basis.
The following principles have been applied in attributing costs to different headings:
i) Items of expenditure which involve more then one cost category have been apportioned on a basis consistent with the estimated use of the item within each category.
ii) No past expenditure incurred on activities falling directly within one cost category has been attributed to any other cost category.
Support costs have been allocated between governance and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
As a registered charity the Society is exempt from taxation on its income and gains where they are applied for charitable purposes.
The Society is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021
2. ACCOUNTING POLICIES - continued
Debtors
Short term debtors are measured at transaction price, less any impairment.
Cash at bank
Cash at bank comprises current and deposit accounts.
Creditors
Short term creditors are measured at transaction price.
3. INVESTMENT INCOME
4.
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Deposit account interest | 272 | 857 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2021 | 2020 | |
| £ | £ | |
| Computer software amortisation | 1,035 | - |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020.
Trustees' expenses
The following expenses were reimbursed to trustees:-
£Nil in total was reimbursed for directly incurred expenditure to 2 trustees (2020:£145 to 2 trustees).
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Cardiovascular care | 359,237 |
| Investment income | 857 |
| Total | 360,094 |
| EXPENDITURE ON | |
| Charitable activities | |
| Cardiovascular care | 323,732 |
| NET INCOME | 36,362 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 248,390 |
Page 7
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued TOTAL FUNDS CARRIED FORWARD 7. INTANGIBLE FIXED ASSETS COST Additions AMORTISATION Charge for year NET BOOK VALUE At 30 September 2021 At 30 September 2020 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accruals and deferred income 10. MOVEMENT IN FUNDS At 1/10/20 £ Unrestricted funds General fund 284,752 TOTAL FUNDS 284,752 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 225,875 TOTAL FUNDS 225,875 |
Unrestricted fund £ 284,752 Computer software £ 20,700 1,035 19,665 - 2021 2020 £ £ 144 11,804 2021 2020 £ £ 200 200 4,700 4,530 4,900 4,730 Net movement At in funds 30/9/21 £ £ 80,074 364,826 80,074 364,826 Resources Movement expended in funds £ £ (145,801) 80,074 (145,801) 80,074 |
|---|---|
Page 8
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/10/19 £ Unrestricted funds General fund 248,390 TOTAL FUNDS 248,390 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 360,094 TOTAL FUNDS 360,094 |
Net movement At in funds 30/9/20 £ £ 36,362 284,752 36,362 284,752 Resources Movement expended in funds £ £ (323,732) 36,362 (323,732) 36,362 |
At 30/9/20 £ 284,752 |
|---|---|---|
| 284,752 | ||
| 36,362 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/10/19 £ 248,390 248,390 |
Net movement in funds £ 116,436 116,436 |
At 30/9/21 £ 364,826 |
|---|---|---|---|
| 364,826 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 585,969 585,969 |
Resources Movement expended in funds £ £ (469,533) 116,436 (469,533) 116,436 |
Resources Movement expended in funds £ £ (469,533) 116,436 (469,533) 116,436 |
|---|---|---|---|
| 116,436 |
Page 9
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2021.
12. LIMITED BY GUARANTEE
The company is limited by guarantee without share capital. In the event of being wound up each member undertakes to contribute such amount as may be required (not exceeding £10) for the payment of the charity's debts and liabilities.
Page 10
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest Charitable activities Subscriptions Fellowship contributions Site visits Total incoming resources EXPENDITURE Charitable activities Administration fee Fellowships Education programme Travel expenses Meetings expenses Website development and maintenance costs Sundry expenses Bank charges Advertising and marketing Grants to institutions Other Computer software amortisation Support costs Management Insurance Governance costs Accountancy fees Legal fees Total resources expended Net income |
2021 £ 35,803 272 189,800 - - 189,800 225,875 34,850 25,015 43,200 - - 7,737 369 90 28,488 3,000 142,749 1,035 184 1,800 33 1,833 145,801 80,074 |
2020 £ - 857 242,237 115,000 2,000 |
|---|---|---|
| 359,237 | ||
| 360,094 46,250 80,000 3,270 843 182,688 6,948 1,250 143 - - |
||
| 321,392 - - 2,340 - |
||
| 2,340 | ||
| 323,732 | ||
| 36,362 |
This page does not form part of the statutory financial statements
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