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 2024
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 2024
| 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 | 11 |
| Detailed Statement of Financial Activities | 12 |
BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 30 September 2024. 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 decreased by £2,868 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 £132,014 (2023: £306,586).
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.
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
No formal trustee induction and training procedures have been adopted.
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
Dr D B McKenzie Consultant Cardiologist (resigned 30/1/2025) Dr D Hildick-Smith Cardiologist Dr G J Clesham Cardiologist Dr P D O'Kane (appointed 30/1/2025)
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 30 June 2025 and signed on its behalf by:
Dr P D O'Kane - Trustee
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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 2024.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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
Johnson Tidsall Limited Chartered Accountants 81 Burton Road Derby Derbyshire DE1 1TJ Date: .............................................
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Cardiovascular care 400,727 Investment income 3 2,795 Total 403,522 EXPENDITURE ON Charitable activities Cardiovascular care 544,444 Other 2,070 Total 546,514 NET INCOME/(EXPENDITURE) (142,992) RECONCILIATION OF FUNDS Total funds brought forward 306,586 TOTAL FUNDS CARRIED FORWARD 163,594 |
2023 Total funds £ 329,755 1,723 331,478 384,780 2,070 386,850 (55,372) 361,958 306,586 |
|---|---|
The notes form part of these financial statements
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
BALANCE SHEET 30 SEPTEMBER 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Intangible assets 7 13,455 CURRENT ASSETS Debtors 8 15,144 Cash at bank 209,982 225,126 CREDITORS Amounts falling due within one year 9 (74,987) NET CURRENT ASSETS 150,139 TOTAL ASSETS LESS CURRENT LIABILITIES 163,594 NET ASSETS 163,594 FUNDS 11 Unrestricted funds 163,594 TOTAL FUNDS 163,594 |
2023 Total funds £ 15,525 15,144 295,817 310,961 (19,900) 291,061 306,586 306,586 306,586 306,586 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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 30 June 2025 and were signed on its behalf by:
P D O'Kane - Trustee
The notes form part of these financial statements
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
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 exemption 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.
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.
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
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 | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 2,795 | 1,723 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2024 | 2023 | |
| £ | £ | |
| Computer software amortisation | 2,070 | 2,070 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.
Trustees' expenses
The following expenses were reimbursed to trustees:-
£Nil in total was reimbursed for directly incurred expenditure to 0 trustees (2023:£266).
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Cardiovascular care | 329,755 |
| Investment income | 1,723 |
| Total | 331,478 |
| EXPENDITURE ON | |
| Charitable activities | |
| Cardiovascular care | 384,780 |
| Other | 2,070 |
| Total | 386,850 |
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. INTANGIBLE FIXED ASSETS COST At 1 October 2023 and 30 September 2024 AMORTISATION At 1 October 2023 Charge for year At 30 September 2024 NET BOOK VALUE At 30 September 2024 At 30 September 2023 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors |
Unrestricted fund £ (55,372) 361,958 306,586 Computer software £ 20,700 5,175 2,070 7,245 13,455 15,525 2024 2023 £ £ 15,000 15,000 144 144 15,144 15,144 |
|---|---|
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 10) Other creditors Accruals and deferred income 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 11. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1/10/23 £ 306,586 306,586 Incoming resources £ 403,522 403,522 At 1/10/22 £ 361,958 361,958 |
2024 2023 £ £ 6,907 - 200 200 67,880 19,700 74,987 19,900 2024 2023 £ £ 6,907 - Net movement At in funds 30/9/24 £ £ (142,992) 163,594 (142,992) 163,594 Resources Movement expended in funds £ £ (546,514) (142,992) (546,514) (142,992) Net movement At in funds 30/9/23 £ £ (55,372) 306,586 (55,372) 306,586 |
2023 £ - 200 19,700 19,900 2023 £ - At 30/9/24 £ 163,594 |
2023 £ - 200 19,700 |
2023 £ - 200 19,700 |
|---|---|---|---|---|---|
| 19,900 | |||||
| 2023 £ - |
|||||
| 163,594 | |||||
| (142,992) | |||||
| At 30/9/23 £ 306,586 |
|||||
| 306,586 |
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 331,478 331,478 |
Resources Movement expended in funds £ £ (386,850) (55,372) (386,850) (55,372) |
Resources Movement expended in funds £ £ (386,850) (55,372) (386,850) (55,372) |
|---|---|---|---|
| (55,372) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| At | movement | At | |
| 1/10/22 | in funds | 30/9/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 361,958 | (198,364) | 163,594 |
| TOTAL FUNDS | 361,958 | (198,364) | 163,594 |
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 £ 735,000 735,000 |
Resources Movement expended in funds £ £ (933,364) (198,364) (933,364) (198,364) |
Resources Movement expended in funds £ £ (933,364) (198,364) (933,364) (198,364) |
|---|---|---|---|
| (198,364) |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2024.
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2024
13. 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.
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BRITISH CARDIOVASCULAR INTERVENTION SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Deposit account interest | 2,795 | 1,723 |
| Charitable activities | ||
| Subscriptions | 281,615 | 229,427 |
| Fellowship contributions | 119,112 | 100,328 |
| 400,727 | 329,755 | |
| Total incoming resources | 403,522 | 331,478 |
| EXPENDITURE | ||
| Charitable activities | ||
| Administration fee | 34,134 | 48,129 |
| Fellowships | 60,000 | 77,123 |
| Education programme | 362,073 | 210,569 |
| Travel expenses | 560 | 280 |
| Meetings expenses | 1,898 | 3,838 |
| Website development and maintenance costs | 8,307 | 30,535 |
| Sundry expenses | 25 | 1,320 |
| Bank charges | 334 | 77 |
| Advertising and marketing | 64,858 | 972 |
| Computer expenses | 2,855 | 9,643 |
| Clinical standards | 7,440 | - |
| 542,484 | 382,486 | |
| Other | ||
| Computer software amortisation | 2,070 | 2,070 |
| Support costs | ||
| Governance costs | ||
| Accountancy fees | 1,960 | 2,294 |
| Total resources expended | 546,514 | 386,850 |
| Net expenditure | (142,992) | (55,372) |
This page does not form part of the statutory financial statements
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