Register￿ ¢ompany nurnbtr.. 07941827 Chailty number: 1146162 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE IA Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 *￿E￿E21$ 3011012024 COK*ANIES HOUSE A19 #104 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE (A Company Limited by Guarantee) CONTENTS Page Reference ond Admini$tra)v* Detslls Tru8tee$' Rep?rt 4-17 1ndepw￿nt Auditors. R*port 18-21 Stalement of Flnanclal Actmtfjes 22 8alanGe Sh•et 23 Statement ol Cash Flows 2S Not•s to th• Flnaneial Stat•mortts 26-40 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE (A Company Limited by Guarantee) Reference and Administrative Details Charity number 1146162 Company numb•r Register￿ office and operatsonal ddre Trustees 07941827 Ground FkK)r. Office Suite 1 21 John Slreet Lond(x) WC1 N 2BF President Professor Jimmy Whitwoth MD Fmedso" FRCP FFPH DTPI&H (from 28 September 20231 Mr S¥mon Bush (to 28 September 2023) e4>r¢$ldent Ms Sarah Raff•ty 8A Msc PHD Hofvor￿ Tf•asurnr Mr Tim Hazell BA (Honsl CGMA Trustees Dr Buddha Basnayet Or Quudus Yusuff Dr Said Abdallah J(￿ Karen Brady Bsc Hons Ito 23 thjne 20241 Mr Simon Bush BA Msc Mr Tim Hazell BA (Honsl CGMA Ms Sarah Rafferty BA Msc PHD Profess￿ Bridget Wills. DM. FRCPCH. OTM&H Professor David Mabey CBE OM FRCP FM*JSa Professor Gail Davey OBE Profèssor George Varghese Professor Janet Hemingway CBE. FRS. DSC. PhD. Bsc. NAS {Foreign Associate). Fmedsu FRCP IHonl, FRES (Hon). FAAM (to 28 September 20231 Professor Jimmy Whitworth MD FK4edSci FRCP FFPH DTM&H Professor Margafet Gyapong lfrorn 23 June 20231 Professor OlaoKMa Pheabian Akirwate Prolessor (Xufemi O. Adewo Professor Pramd Samantaray Dr Wendy Harrison from 28 September 2023 Tamar Ghosh Bsc Msc PIBA National Westminster 8ank r 1 Cavendtsh Soua London W1A4NU Up io 28 June 2023 Eden Investment Management Beaufort Hous¢ Brunswick Ro*J Gh)ucester GL1 IJZ Bales We115 & 8raithw8ite London LLP 10 Queen Street Place London EC4R 18E Knox Croppèr 155 Lond(x) Road Hemel Hempstead Hertlordsh*e HP3 9SQ Chief Ex•¢utlv¢ 8ank•rs Investm•nt IAanagers Sollcltors Auditors ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom Limited b Guarantee TRUSTEES. REPORT For the ear ended 31 March 2024 rt ot the Trus For th• y•ar •nd•d 31 March 2024 Th8 Trustees present their report and the audited fina￿￿al statements for the ye¥ ended 31 March 2024. Referenco and administratr¥e del&"Is on page 3 lorn parl OF this rep The financial ststements have been wepared the accounting pol￿e5 set out in note 1 to the financial slaternènts and CL¥npty with the Soei8ty's M8morandum aThJ A￿leS ofAssooation. appluble law and the requiremenls of the FRS102. ,Structure and go¥emance The Royal Sooety of Trop￿1 Medthe and Hygw* IRSTMHI registe￿d chartty 1146162 is a professional body founded in 1907. Its Objects a￿"t0 promote and advance the study. control and p￿ventIOn of disease in man and other animals in the tropKs and dtsadvantaged communities arwnd the globe by facilitsb discussion and the exchaThJe of infc*rnabon amorwj those ¥•ho are Interested in di5ea585 of such communrtie5." The charity is constituted under the Mernwandum & Articles ofthe Swety as revised gnd adopted al the EGM of 14 December 2011 and amended 26 January 2018. 29 May 2019 and 21 Sèpiember 2020. It is a charitable company. incorporated in Ihe United ￿￿Jd0rn. The Board of Trustees. suprthed by its Ccrnittees (Financt and ALwJil. Grants and AwAffls. Meetings and Evènts, Edueation and Training, Pdicy and AdvrKacy. 1ntemats.onal Members. and the Editorial 8oards lor both of (he Ic¥Jmals thai are owned and managed by the Swetyi sets Ihe slra¢egic direction of the charity which is further devebped and imtyemented by ihe RSTMH stsff team. The Board indudes ￿ to sxteen Tw51ees. ol wh￿￿ no than nine a￿ elecle(l from Ihe net￿r)rt of members and Fellows and no MO￿ Ihan seven are apprAnled from outside Ihe pwl of members and Fellows. to bring addit￿81 expert skills. Each Trustee is enb.lled to serye Ihree-ye8f terms, whth can ￿ extended by the Board of Trnstees. Trustees re￿1Ve an and have acces5 to trxlemal goveman(t training. IObjective5 and activities The Trustees have ￿ler￿￿ to guidance ¢onlained in Ihe Charity Commission's general guidance on publi benefit when reviewing the thanty's aims and obJe¢bves and In pLqnning it5 fvtvre activitie5. In particular, Ihè Twstee5 consid8rwJ how planned acts￿118$ v•iU ojnlritrxth to aiffts objeth.vos that havo boon sgt: The Trustees ￿VieW the aims. obJ"ecbves and acbwt*s of the charity eath year. This Trustees Report looks back at b¥hat the charity has aCh￿ved and the (Mrtcomes of its work wthin tha last monihs. It maps th• succes5 of each key acb'v4ty and the benefits the tharity has br<¥Jght to those ctsmmunibes that it exists to help. The report also helps the Trnstees enwre the chanvs airr6. obJ"ethves and actiwties rernain fO￿$&y on its stated purth%es. ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee TRUSTEES. REPORT (continued This was the first year of ojr new &year strategy. I*￿h l¥JibJ5 on Ihe succAsses ofthe last strategy. making improvèments 4there we can, and devew'ng new actmbes wtr think wll Tncrease the progrèss towards achieving our goals. This straiegy was develoFed after consumaknon wilh our members and Fellows, netsvorks aThJ Oiher Stskehdders. Our approach ￿11 be defvere(I thrwjh three main aims, under which a number of areas ol focus. These aims will prov*Ye a sense ofdireC￿oO 1hr(w￿)Ut the fNe-year period. Within this, we will produc* an annual plan of key acti￿tieS and targets. sharing our main priorities for the year with our Me￿*19r5 and Fel¢ows, and th8 budget and performance indicakys arTrJngst lh8 Board of Twstoe5. Our first strategic aim IcKuses on improwNJ the skills. exwence. and ne￿￿Ik$ ofour Members and Fellows. Ouring Ihg year we continued to develop and showcase resources for members and Felbws to grow new skilL8 and knoYAedye, throu9h gu￿anCe webinars, and virtual meetings. We sucrA8ssfulty implernented addItK￿8l memter and Felkjw benefits, Ind￿jir￿j exdusve giant funding for RSTMH Tnembers and the pledge that all existing and new athwtses woukd PfoTrride addrth)nal value to our mertjers and Felbws. In addifyon to this, we started planning our first Regional Meeting whth ￿ o¢curring nexi year in Nigeria. OuriThJ the yew of our members arnd Fellows were affected by tonflict, we contsnue to support them by extending their memberships. and ¢h•cking rf Ihere was mor• w• COU￿ do to he*. Our second Strateg￿ aim focu5es on delivemg impact for Ihose in krw-resource setting5 and for Ihe global health and tropical rnediune commut7ity. Thi5 year we started to develop athiwires and benefits to encoura MO￿ people across the community to beccvme members of Ihe Society grow th*r skn.lls and negtworks. aThJ help us lulfil ouc goals. We also utilised our profile and neh¥orks to promote and ?￿Ven¢ more mu di5ciplinwy discussions and xtNiti85 and strengthen our nefvnrks and partnerships across region5. organisalions and disa￿lnes. We initiated nKJre guKlance and mentoring CfJFKJrtvnit￿5 Onli￿ and at our events. and in particular for those applwng 10 our Earfy Career Grants Progfamrnè. Wè were p￿aSed that Ihe number of submissions to thè Grants Programme increased from 1.914 to 2.127 and we were able to in￿aSe the number of awafds to 229 so far, ￿th over 95% of awardees based in LMIC'S. and 52% being awarded to ferna￿ researchers with the help of our ijonor partner5. This year we worked with partner5 to champion Wortd NTD Day, aloTrJ with rnany other focus days induding the Intemats)nal snakets.te Awareness Day on September 19th. which we c founded. The website wvrt¥. lobal.heath continues to attracl rn0￿ partners and is a useftjl iesource lor those looking lof oppc*iunities in global health. Thls year, reC￿lled on• new Ctyjnty Ambassadof. t￿.￿3￿9 our totsi to 27 10 W us strerKJth8n ntemational connecknns with countries important lo wo￿. We witwiue lo to ￿eruIt Regional Ambassadors. The final strategic aim is to ensu￿ RSTMH has the capaLyty and resource5 to sustainably ¢JelNèr rts strategy. This year we conts.nued to work iwrds our goal ofdelNering a surplus bJdget. where our income covers wr operational oxts. Due to S￿ne timiThJ differen￿ SO￿ of Ihe efforts we spent on partnerships and activit￿$ will show as income nexi year, vthich accounis for around £150,OCN). We make prcsress with some of our systems. starts.ng to work with a new CRM company to help manage our database, which we inlegraled with our finance sothvafe. W8 hope io fwwlis• th• inlegrat*)n of our granl ￿bmisSIcffl platform and￿￿rnal dalabase next year. A consKJeobl¢ part of the year S￿nt on e¥alu*ing the RSTMH offic* move as Ihe base on our existing office came to an end in Decernbw 2023. after 13 years. After evaluating optlons of leasirvj. buying or working rèmotely the Board decidéd to find 8rM)ther leasè and agreed lor RSTMH to relocat8 10 a ground floor office a short walk away at Jcthn Street. LorKlon. This move, cm a five-year kase, represents a ￿5t saving ol around 33%. The Board met in person in Seplember 2023 before and after wr Annual Meetirvj lo finalise the overall KPI'S that will be used to maasui• the success ol th• strategy. and help th• L•am set KPI'S for our ath"vibè$. Nèxt ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom Limited b Guarantee TRUSTEES. REPORT continued an In rnernorlum This year, fv40 of (¥Jr I￿3.StandIn9 m8mb8r5 thed. Professor Athny Bryreson and Dr Oavwj Evan5 and w8 offw our condolences lo their farn11￿ and (Tiends. P•rforrnantè of kèy aeti¥itios Please find below a summary of pro9￿$$ on the main activitses Ihis year. Once again. we did have some periods of time %there we hail vacanryes in the leam of 8. %thich brought the average headcounl for the year down to 7.7 1. Supporting membets and Fellows This year, the t(Aal nunknr of membets and Fel￿ gvew by 278 to 1,876. ￿￿eSenting a 17.4% increase Compa￿ to lasi year. The growth can be attribuied to the successlul inK)lemenlaiion ol ad¢Jib"onal member and Fellow beneffts. indu¢in9 exclusive grant fvJndiThJ for RSTK4H members and the assurance that all existing and new activi￿.e$ provbje additional value lo wr ffernbets and F￿k￿$. In addilion, our to er￿urage tIN￿e in wr nelwuk5. pethap5 receww w nww51eHer or attending our e¥ent5. to j(xn Ihe society. started to show success. Wg madg irnprovgmgnts to our P8yTWt plaV¢)nn this year. has led lo fewgr paymgnt ISSU￿. P8rtutl3rfy among members fvom Iow-income tountries. This continues to be an area of focus to ensurè èveryonè w￿) wants toioin the society is a￿e to. in li9ht of currency. platfom) anL1 payment challer¥Je$ across many countrie5. We a150 Continued fo enhance our er￿a9ernent wth members and Felk)ws through inuea5ing onlinè and in person networking meetings and prtividirrfJ greater opptsrtunities for membets and Fellows to improve their S￿"11s. experience, and ne￿orkS through webinars and gtsida￿ ses&ons. Enhancements to the pr(Kesses have led to an ovefall in¢xease in wr ￿tention raies. This year our current Pre5Klenl, Mr Siryw)n Bush oversaw the Presidents FurKI. which enabK%s peoph who a not members of RSTMH. bul see a benefit of it. to appty for f￿ membetship ol Ihe sc*iety for up to 3 years. This year we were able to award 4 new members thfough the Fund. DurirvJ the year we ¢Jevek)ped M(Lls ¥rith 7 insts"tuiK)ns acmss India. whose goals itlude incr￿ng rrembership ol RSTMH. and we k)ok fO￿￿d to stre￿ening Ihese. and broadening wr MOUS in other countrvas next year. Finalty. we stsrtsd worknng dvriThJ the year many new innovations to make membetship ol the Sociely easier and rnore benefiryal. including a new type of felk)wship. lrfeb.rne rnembership and irynt rnembership wilh other socieb'es. We are working io implemenl the 8xFert series events. lo enable [r￿mterS aThJ fellows 10 share their exp8rtlS8 Wrth on8 another and are developng other n8W eV8nts and activit￿5 fLY memb8rs and F8lbw5. 2. M••￿n9$ and •v•nts RSTMH meetings and events are overseen by Ihe Meetings and E¥ents C(MnmiNee. This year we were ab￿ to delwer meetings and events bolh in wson and online. We have strengthened our prograrrrfne ol Onli￿ event5 aThJ through Ihis we have been able to engage a wider group of our rnernb8￿, Fdkjws and supporter5 gk&alty through tyjr Lvwn events aTrJ those of our partn8rs. We attend events oufside of Ihe UK 8nJ I￿k part in pather evenls in Japan atwj India. Next year we hope to be able to deliver programrnes of online iF1-perx￿ events. ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom Limited b Guarantee TRUSTEES. REPORT continued) r Annual Meeting in Sepiember was orl Ihe theme'TropKalMedicine and GlobalHeallh." Prion1￿$ lorlhe next 5 years.. The in-wson rneetings meanl we deliver sessions for attendees on Iheir careers. speufvty on how to W fLThl•d. how to get published and how to communKat• their*th. The events we were able to deliver induded" RSTMH Strategy 2023- 2028.. Onhr* launth event- 27 April 2023 Online Research in Progress 2023- 11 & 12 May 2023 OiagTh)sli¢s for NTDS.. ts curTent laTrJscape. emerging resewch and wl-W(KhJ SLKcesses aThY challenges- 15 JurE 2023 48th Annual Topics In InfeC￿on- 6 June 2023 RSTMH Online Mernber Netwoth"ng- 20 July 2023 President's Leciure and Receptw 2023- 2 Augysl 2023 RSTMH Annual Meeting 2023- 28 & 29 Sepknber 2023 RSTMH Annual General Meetin9 2023- 28 September 2023 RSTMH Online Member Netr￿rking.. AMR- 23 November 2023 Donald Mackay Medal talk.. Professor RashKYa Ferrand- 1 Decembw 2023 Research in Progr8ss London- 7 Oec8mb8r 2023 Trachoma." Accelerating prr4ress lo elimination as a p￿)liC health problem-23 January 2024 491h Annual Topics in Infection- 26 January 2024 World Lewosy Day. Ending s￿'gm8. Embracing DvJntV- 2 February 2024 RSTMH 2024 Early Career Grants Prc¥ramme'. guidancè wetiwiarfor applie*￿- 20 February 2024 Sif Ri¢kard Christophers Medal Winners- 22 February 2024 Intèmalional Women'5 Day." RsfMH Pand Di50Jssion- 7 March 2024 RSTMH Earfy Career Grants Programme". Member gUKlan￿ webinar- 20 Marth 2024 Wor*J TB Day.. HIghl￿￿ts frorn the RSTMH joumals- 21 March 2024 We delivered the folbwing training meetings. RSTMH 2024 Early Career Grnnts Prr4ramrne". ￿ldance Web￿arlOr applicants- 20 February 2024 RSTMH Earfy Careaf Grants Prtsjramrne.. ￿ern￿ guidance webinar- 20 M3fd) 2024 We delive￿ the following meetings ￿th Option￿ guidance seswns". Onlinè Research in Progress 2023- 11 & 12 May 2023 Research In Progress London- 7 Decembef 2023 W¢ also d¢fiv¢red Ihe foifowing events ts or with our partners_ Diagnos￿¢$ for NTDS.. the currenl landsca￿. em•rging resewth and raal-worfd succe5S8s and challenges- 15 June 2023 TraChfx￿.. Accekraling pr￿e$S to elwnimtion as a pubhc health problem- 23 January 2024 3. RSTMH lourna15 Durfng this fina￿al year. ￿OfeSsOr Nick Day continuod as EdIt￿- in-chief ol Traftsadths of the Royal Society of T￿￿Cal ￿ed￿ne ènd Hyg*ne (Transactions). To 511PP)rt Nick, we apwnted Or Boakye Boatin a5 D•puty Editor in Chiaf of Transèctw)ns in April 2023. Dr Sl•fanie Merediih continued in Ihè role as Editor-in- Chief of Intemational Health. The Editors in Chief c¢￿tinUed to be supp(Mted by our Associate Editors and wider Editorial Boards, akn9 with a kvje gTOUP of revie*ers. them ensure the p)umals continue to publish hi9h qualty science. ROYAL SOCIEry OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee TRUSTEES. REPORT ¢onlinued) Lhjring the year, the folkN4iThJ speoal issues and supp*ments were pubthshed across tsur stsèntfft joumals. Aprd 2023- suwement ol International Heatth gntitled 'Lessons frc￿￿ CouNTDown'. Implèmentstion research supwtrng Ihe WHO NTD roadmap" on behalf of Ihe COUNTDOWN partnership. Dècember 2023- supplèment of kntemabonal HeaAh enlrtb8d"Ment21 H8anh. Stigrna and Neglocted Tropical Diseases." Part A" Decernber 2023- 5uppkment of knlemational Hearth entided Yrachoma.. Acceleratm9 wogress to eliminalion as a wblic health woblem" in p*1nerthp wilh Sigthlsavers. The Impacl Factc￿ ftx Transactions is 2.2 and Ihe Impad Factor lor Intema¢ky￿I Health rs 2.5. meaning both journals remain listed as 03 joumals in Ihe Suence Citalion Index Expanded ISCIEI and Social Saences cital￿n Index {SSCII. We also saw an increase in the numberof lull tèxt dcthvn1￿3$ for both joumals- Transaclv)ns= 304.849.. Iniematw)nal Health= 436.816. This year 373 papers wer8 submitted to TranSaCt￿n5 Compa￿ to 308 last year. In the same Feriod. 426 papers were submitted to International Health compared lo 259 submissions last year. These increases reflect increased commissioning activths by the Edrtoiial Board, tavgèted rnarkèt1￿ campaigns by our wblishers Oxford University Press. and increased r￿OtIon ofioumal Content in Ihe RSTMH ntrwsletler and on social media. We Siarted wolk on a Speual Issue due to the published later thts year. focused w Ihe snakebite challenge. whKh we have been tr￿ng to deliver wnce 2018. We also finali5ed a partnership to See a collection of papers from the Gbbal Trachoma Mapping Prr4e¢t. At the same ¥¥e are delwJhted to have exlended our dissemination partnership Sightsavers whKh WbchJ(les Sup￿eMents. over the next year5. This yearwe spent sorne consK*erable time *xJthng. *iih ￿ extemal ¢J)nsuttanL on a teThJer pr￿$$ to sefect a new publishing contract. as our contract with OUP end$ in December 2024. This is a very ￿mprehenSive pi•¢e ol work which will be conc￿ed next year. Early Care•r Grants progr•mm• The Grants and Awards Commrttee oversees the RSTMH Early Career Grants Prograrnrne, and Ihis was another successftjl year for the Programme. We received 2.127 awical￿ns by the deadline in W"1, which is an inuea5e of 11% from Sa5t year. (her 1.700 of these passed thr(wh to assessment anLI of Ihese. 229 grants have beèn paid out so far. Ovèr Ihe last ltyjr yèars the ratio of success (awards to appliCa￿'onSI has irnprovèd from 1..39 up lo 1..6 and now is at 1".9. Although this 6 a lair ratio of success, we are slill keen to ensure Ihal every high-quality application receives an award. This year lhe￿ were than 500 high quality applications ith w* wère unaile to fur￿. This remains an s*)al of Ihe Grants Pro9rarnme. Th• inrx8a5e in Earfy Care8r Grants given to early cweer researchers anLI professionab arwnd the workl was mad8 possib18 by supwrt from a nurnber of partn8rs. th prwded total lunding for grants of£1,205,495. Thts breaks down as £996.S70 from National Institute for Heath R8search INIHRI, £140,000 frc¥ll Children's Investment Fund Foundation ICIFFI. £49.993 from WellCcx￿. £14.788 from the Intemational Trachcxna Initialive IITII, and £4.144 frorn the InlernalM)nal Atsance lor the Contrd of Scatses IIACSI. r Grant Pro9ramrne relies on the expwbse ol an Intema￿On8T of volunlews. called Global As5e5sor5, who give up ih8ir time to ensure eath application is by experts and that the quality of our assessments remains high. We recruileé 43 new Ghjbal Asses￿ ￿ Ihe year, and we are extreme grateful to all of our Assessors for their time and efforts. ThKs year we continue to of gf the grant prgects we funded in FWOUS years, and are building a picture ol the short arKJ bnger t8rm outcomes of the grants for awardees. ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee TRUSTEES. REPORT {continued 5. M•dal$ and awanl$ The Grants and Awards Committee ove￿$ Ihe RSTKIH medal and awards pwramme Thi5 year the following RSTIAH medaL8. awards and prizes were presented.. Hefflingway Award to Prolessor Mark Ta￿( George Macdon8bJ Medal iointy awarded to Professor ￿1￿￿ Dondorp and Professor Christine Stabèll Benn. chalmers Medal 19 Professor Failh Hope Among'MI Osièr Emerying Leadw5 Award lo Dr Bipin Adhikar Student Essay Competition on ConflKt and Heahh to Hannth Lin P￿Sidents Fund awthts io Gaularn Salh8e5h, Ogethukwu Akatyjthe. Rthdle W. lfjhoro and Dr Shey Robert Adamu. The medal and award W￿nerS were recc¥JThsed as part ofthks yearfs AGM or ann¢)unced on oww¢b¥t¢. They have been delNeriThJ their related speeches this year. an¢J into the next finanual year. 6. Diytsl communication r ￿8th through our rI￿rtaI ComM￿l¢8t10nS VKJrt conb.nues to 9row. Our number of Linkedln followers has 9rown si9nifieanlty this past year. up to 11.371 followers- an intyeaye of 56%_ Our number of Twitteflx followers has also grown over the past year. by 3.5% to 32,100 followers. Thi5 is a slxer rate of increase than last year. pethaps due to a move way from T¥ritterlX ￿ the lasl due to new leadership at th• soual netyvork. The number of subsuibers to our n(Trmember newslelter at the end of Ihe year was 10.375. an increase 016% on last year. The non-member newsletter is a round-up of our n8ws and Ihat of Ouf sector. Since January 2024, it has ￿en sent monthly, vAth rrK)re of a push to*ards wr￿Mbef5hlp recruitment. The non-m8mber newslettgr remains a fortnightly emal, and conl&"ns wrLYe detaikd, exdusbve member4)nty content. Duriry the year we were able io h*3hlght and woduce t>￿tent fcff a nbjmber ol imp(wknt day5 within the global health cakndar through our communicatsons channels. including lor Wortd NTD Day. 8Jogs f8aturiTrJ on the RSTMH website thr(yJghout the year We￿ on topics induding tuberculosis. Iniemational Women's Day, negle¢teiJ tropical diseases, refugees. RSTMH activities in Japan. HW aThJ AIDS. artiftial intelligence and world anlirnicrob*al resistance awarenes5. LLK)kirrtJ at anaW"(s for the RSTMH website. we received rnost vt5itrys from users in United Kingdom121kl. Nigeria113kl. United States112kl. lTrJia110kl and U9anda17.Skl. Website pagts rtThist rxjpular in thi5 puictyj were.. Earfy Career Grants pa9e$. our homepage and membership registration and bJ9in pages. 7. Infrastructure RSTMH system$ haw ba¢n updated thts year lo irwsè c0labcYati￿ ond thiancy aeross all our area5 of work. Our fi*s and records wefè m¥ed from a ithysical seryer lo a cloud-based system in December 2023 making them more accesgble to the tearn antl more secu￿. We rnoved to new a ￿%￿panY to manage oJr CRM database and ace c(￿tinu1￿j Ihe pri)￿S of w1atin9 our database so aclivibe5 can be more aligr*d and efficient acr05S Ihe sOc￿lY. 8. Volunt•Ms We estimate there are over 1,￿0 peoF4e based across Ihe WLvld who give Iheir time to supwrt us vthh our governanc•, grants, events and ioumals activrfie5. Thi5 is a crucial facior in howwe are 8b￿ to deliver so much being a small staff team of eight, base(1 In the UK. This is espeually true a5 our work and goals ar8 ambit￿￿5 and cover so many wi¢xts of the wortl. Our Board of Tnjslees and Committee membefs all gNe their time throughout the year lo 0￿See and guide Ihe work ol Ihe Society. an(J ensure we compty wilh al regulaliws and best pradices. ROYAL SOCIEry OF TROPICAL MEDICINE AND HYGIENE Acom Limiled b Guarantee TRUSTEES. REPORT ontinued an The rdes of Country and Student AmbassadL¥ ts)ntinued to help us ensure we have rewesentslh)n, dLsseminaUon and advu Ihe countyies nw)st ¥mpacted by Ihe diseases and heakn k$$￿$ we focus on. As of the end ol this year we have 38 RSTMH Student knbassadors acr055 32 countri85. Acting 35 a voice for their lelbw students. Student Antsssadors ¢(￿￿"nue to be iTh115pensable in raIS￿g awafeness ol RSTMH thrgughout their instilubons and beyond. They are Ihe instrumenlal link bewrt students. InStitut￿)n3 and RSTMH and rnake the rnost valuabk wntrIbu￿0n to assisb.ng us in a¢hiev4ng ¢)ur VIS￿ and rni$5￿n. We look foMard to growiThJ the twogramme arvj expantjing (¥Jr reath nexi year. We recruited one Country Ambassador this year. represenlin9 Brazil. bringing our lotal number to 27. This nefv40fk helps us understand Ihe success and c*alengÈ5 in gknbal healih in thtir ctsuntriès, and we a￿ able to Sha￿ that with members and Fel￿#￿ Whe￿ we can. They akn r&se aweness of tyjf work and ways we can support those working in or inlerested in our sector, ¢specolly those earty in their careers. They provide advi¢¢ on how we could impfove our work and shape our deosion making IhroLtrJh their regular report5. We would like to extend our support and gratitude for all they have done duriThJ the year for u5. This year we have started a review of Ihe role. as it has been in pl3r* tor ￿)ffle to see howwe can make tmprovements to it. The results of this year will be shared next year. For ourjournals we have ￿f0 EditrKial Boards Cornw￿1r*J Editors in Chief and Assoriate Editors. Th8 hvo j¢yJmats are also supported by a netw* of peer reviewers, who ensure the qualty of our 5Cl8lltffjc journals mains high. We are so gratefvl for Iheir Support. whith we wovkj ￿t be abk to deliver this e￿￿ence+ based scientthc content lo our rnernbers, Felkxv5, and wlller Defy￿rks. We remain indebted to our netr•th ofVo￿ntsry Gknbal Asse5S0ts. èXP•rt5 based al￿Thd the w¢yhJ in all a￿a$ of tropical medicine and global heatth. who review all technical subm6sH)ns lo RSTMH in¢luding for our earfy career grants, travel 5chofar5hip5, event abstracts and P￿Sen￿t￿)ns. This year we have recruited 43 new Gbbal Assessors from all regions of the worhj. As ff@ntioned abo￿, w¢ would not be able to ccrfbknt our WO￿ 7•rith(wl the help of our volunteers and we are irTwnensety gfalelul to all of them for gNir¥J LP th￿r time energy to he*J RSTMH deliver its and g)als. Fundroi$ing and i￿Orne dNerJffi¢aiJon This year we ¢ontinued io woth to optinwse the InC(￿ne 9enerated Ihrough our current achvilies induding mernbership. events. grants. and wrna15. Thi5 was despite a challenging enmronrnent for charityès in the UK wlh tsrganisations prtsviding less support to charities. indmduals being affected by inflation and uncertainties and costs of operaty.ng r￿sIr￿a. In terms of the areas o15uccess in the year we were abk to grow suprKJrt for our Earfy Career Grants Programme through partn•rships with th• NIHR, Wellcome, ITI and ￿CS. This support enab￿ us lo support m¢ye of the h4gh.qualty ap￿i¢8b0nS we received and pro￿de awardee5 with RSTMH membership ¢JurirwJ their proiecls. Fundin9 also w0¥￿ed support for us to rnanage this 9roMThJ PwranNme and contributed towards our overall costs trf cornrnunitstion. Ma￿etift￿, monittiring aThJ evaluation. D￿n9 the year we were deli9hted to conclude disojssons wth NIHR arwnd a &year partnership for our Gwts Programme. startirvJ Ihkq year. Thi5 year we also continued our partnership with Swjhtsavers as drsseminaiw partners across a number of their ongoing programmes. Ouf disseminatr)n channels include our website. social rnedia, events. and scientrficioumals and c¢Ykctivety provide a ￿8¢h of many th￿SandS of Pet4)￿ frorn a variety of sectors. disr9￿l￿e5 and subject areas. We woukj like to utithse ths nKJre to th"sseminate 7•th in our sector across SCi8ntific and nOn-S￿entIfiC audier￿S. This year wg were also delighted to finalise wr >year partnersh￿ wrth CIFF wknich kyowjes support for eady career researchers in Africa, wcrfking on 7 key NTOS. the 5UPPOrt wll provide grants as part ol our Early Career Grant5 Prograrnmè as wdl as O¢h8r support induth'ng worksw and gimdance and neh4rwkirvJ opportunities. io ROYAL socIErY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee TRUSTEES. REPORT continued We continued to establish and re4slablish Iw*s to r• partnors and sup[￿er$ whKh couk1 result in partner a¢￿Vity and fundir*J and k)ok foThArd to ¢cffilknuirg conversats)ns nexl year. Other areas of incoma generalion such 35 donati￿$ tegacies. w• paused when COVIt>19 start￿, are being developed and will be launched next year. utur• plans Ai a 5tralegi¢ kvel. the ofthe next finanrial year is to to implement the new 5-year strategy and monitor its SUCC85s against the agreed goals. We will ensure members antj Felows benefft Irom all our currenl and n* actiwties and that membership is valuable for those at all career stages. and they have oppwhjn1l￿S to share their expertise and network even more. We hcpe to bring the Board ol Truslees together lor Ihe second face-lO-ts￿ meeting. and to have the chance for a strategy woikshop lo finalise any remaining areas of the new strategy the team, and discuss progres$. The souety needs to Continue to fc*us on income diversthation ant1 work ¢0 ensure the organ¢sat#)n is nanry8lly sustainable, so that operab.onal inc￿rr￿ ujvers operalional expenditure. We hope that next year we are able to dernon5trate this dearty and sustainably, throuqh more mults"_year partnerships. GO￿rnan¢? Our Annual General Meeting IAGM) took F4ace C￿ th• 28 Septeffl￿r 2023 in pe￿on. Vot¢s were casl in person at the meeting an(J also Wb advanc* of the rneets.ng by prD¥y. Thi5 year ProlessorJaMt HemiThJway completed her term a5 P8St President. Mr Swnon Bush completed his term as PTesident started Ihe role of Past P￿siden1. Professor Jimmy Whitworth completed his temi as President Elect an¢J started the role of p￿sident. Professor Marga￿t GyatKJng and Dr Wendy Harrison started the role of President-Ekct, whith is first Iwne we have seen a joint Presmlew. Sarah Rafferiy conlinL*d in her rde as Vice President. In September 2023, Professor Jan8t Hemingwdy coM￿eted her iern of office as App¢ynled Trusle8$ and wè thank her ts all ol her support. Karen Brady stepped th)wn from her role as Appointed Trustee on 16 June 2023. due lo a rethation to the US, aThY we afe also immensdy 9raleful for all she hag tjone to SUPFKJrt the souety. Karen's Appointed seal on the Board was taken by Dr Wendy Harrtson. This year the Board topther in pEr5Lm at the kn"￿ of our Annual Meeb"ng. AGM and Septernbe¥ Board Meeting. li ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee TRUSTEES. REPORT continued IFinanclal rnvl•w Please find bebw a naryatNe of the key finanoa ThJmber5 for this finar￿la1 year. 11 is worth wK>ting that one of the Important goaLs ol Ihe kst strategy was lo ch)$0 the gap baiween op•raiional income and operats.onal sp¢nd, and a narrative aboul this has been induded. Total fvnds carriecl foAvard {Jec￿aSe¢l Ihis year by £173.162 to £1,334.365. compared v•ith £1,507,527 last year. 01 this loss. £52.040 relates lo the movement in our investment fvnds. Total income this year i￿￿aSed by £335.548 to £1,895,470. compared with £1,559,922 last year. Exduding investment inwie. inccmne was £1.838.014 compareLI wilh £1,482.241 last year. 11 exdude the income and of the grants paid to earty career researchers ts irtome is £689.975, compared vAth £240.55S kist year. Al income headings have in¢￿ased in the SOFA. which is due to increased wKome from p3rlnets lor our Grants Programrre and inc¥eases in income frIMm meebrKJ5 events. joumals and membership sub5criplions compared with 185t year. The support for our Grants Programme was generousty provided by NIHR, Wellcome. ITI 8￿j IACS. Thrs yeaf we had Ihe third year of SUPFth Irorn S(ght58vers a5 part of our first dissemination partnersh¥, which led lo an inclease in joumals Irrfx)￿. Total expenditure increased this year again by £396.460 to £2.016.592. conwared to £1,620,132 last year. which Is mainly due to us payivJ more grnnts out. but also indudes some incr83ses in the cost5 nè8dèd to run the Society. This year the Val￿ of grants being paid Lxrt Wa5 É1,218.466 ￿Mpare{l with £959.085 lasl year, mÈaning totsl txpenditure èxduding wants paKI w&$ £798.126 this year ¢￿pared with £661.048 last year. The direct cosls ￿laled to Member$￿p decTease(I Ihis year dv8 to rno¥e costs rela￿r0 10 development of new lunctionality lor ￿Jr datab35e, whKh are recognised over a knger term. The direcl c4)5t5 Qf meetings and events, and joumals increase(J this yeav due to Increased overall activily and downward we55ure on prices. The support costs last year amunted lo E565.682 and this has increased to £690,823 thts year. This is due to the speryfic incre358s in costs of payroll. property costs ￿ale￿ to ow move and rew *ase. fees for accounting and audit, IT an(J phone costs. For payrdl this 15 due to their being a headcount of 7.7 Ihis year ¢omp8fed with 5.9 last year affects ovefall costs. The premises cost bnclude5 around £45.000 ol costs ieiating ￿ ￿8V￿g our cAd office and moving. induding legals, d1[a￿datA￿ works and ￿￿￿)¥81$. In tefms of our g)al around financial sustsinabilty. thts year shrws an cperal•Jnal105s 01 £121,122 compared to £60.210 last year. Th*s worsening is mainly due lo timing ￿￿eren￿$ and also ts¥o large pieces of woth in the yèar for whith eorrÈwth"ng Incomè ￿11 not be recognised until next year. The w(wk to Idenbfy our new joumals contract took a C￿S￿lerable amount ol lirne Ihis year. however the ggning bonus of £100.000 will be seen next year. crte the CA)nlrad is svjned. arouThJ 9 ftN)nths after was started. SimiLady, the move to a new office which will save the Society around 33% of toial costs a year ￿11 not show its value until next year, Yth Ihis year shO¥YW￿ additional costs of arourKI E45.OCKI ￿￿￿ted lo ts move. AS the Cost base of the organis8t￿n is quiie stabk the louJs ol the resl of the strategy peric¥J is lo ensure Ihe ineornè intrèase5, in parti¢JJlar unr•stnct•d int>￿e grows aThJ covers we costs. This year we again saw an increase in income lor the Grants Programn* fvum our pariThers and this remain5 a cruc481 area of income as it prowdes the oppc*tunity Io SUFWrt more eaty career researehers. 12 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom Limiled b Guarantee TRUSTEES. REPORT continued an isk and miligatlon The Trustees continue to the rnapjr r￿kS to which the Society 15 exp)sed and Klentify measures required to mitigate th058 risks prospectivety. This year the main iisks continued to be Operat￿al In¢(#ne not Covering operational costs. kck ol dtversty in fund$. IT and cyber se¢uiity. arKI the risk of nol deliverin9 our actNibes due to vacanoes in the ieam. At the siart of the year the volatility in our investments, and growing interest rale$ feduced one of our eL¥e risks through r[￿VIng savin95 from a mixed ￿￿(AID invÈsbnent lo a number of C￿r￿nt accounts. securing around 5% interesl. The risk regisler is nK)nitored quartety by the Finarte aThJ Audit Comrniilee. and rew8wed quaterty at the Board ol Trusiees meetings. The Truswes view their posrtw)n as one of trust in rdal¥)nship to the Socièty's rinan¢ial integrity and rxjntinued stsnding_ This relates to all forms of financaal probity and extends to their positi.on on Iraud. The Trustee5 recognise thal they have. and have a￿yS had. a n8ed io ensure thal. in all ways. the financial dealings ol the Society a￿ tfanspafent and above board. TlyJs, Mal￿Oe￿$1Ons r•wding the dealings of the S(tiety are extensively di$￿ssed by the Trustees. The risk register include5 risks to Ihe areas of strate9y. finance5. reputalx)n. P8We, gov8ffjance. IT, infrastructure and adherence lo regulati¢￿$ and each risk is evaly8led by impact and likelihood and then a mitvJai¥)n is provbjed. The cash fiow was more stsb￿ this year though we still have fflyctuatK>ns of In￿)me ¢urin9 Ihe year due to the timings of support for our Grants Prryjramme. SawThJs were $tsNe being in ihe savings accounts and that means the capitsl is not ai risk. and wft were a￿e lo secure inlewi at an average 015%. Next yearwe will continue to work to develoD a more rotwst cashfkmf oroces5. IRemun¢ratlon polScy ' The Sogety bases remuneration leveL8 offered in tharit*s of simik¥ sizg, slfuctu￿. aThY scope. The rernunerat￿ ol Key Management Personnel is ijis(Josed in Note 10. The Society ￿11 review its rernuneraiw polKy next year. -Rèser¥es policy The reserves policy was rewewed in line with ihe inveslment re¥￿w. The for the Society is io hold frge reseryes to cover 6 monlh5' operab.rg actsvty. anund £400,000. The curnent level of free re5erve5, meaning the totsl wnount ol reserves ￿1¢h ar• ￿￿tricted is £1.288.9151£1.439.027 in 20231. Chanty Commis5K)n requirements indicale thar caprtal sum5 Shou￿j bè invested to achi8v8 cawial grcwth to defray Ihe effects of Infiatron. Tftjstees spe¢ifie(I this in the investment ma￿ale approximately £1.1M vthich could be ￿adity IiquKgated if Ihe need were to arise. The ¢ash reserves a￿ considered adequate and available to meet expenses arising from conti￿1ng acbvitie5 forthe next ffinancial yea￿. at which pc¥nt they shouk1 not be needed. The reslricted lund reserves o1th2 Soclety o)n7pw £45.450 (£68.51)O in 2023) with lotal f￿J$ amounting lo È1,334.3651£1.507,527 in 20231, %¥hich irKlude5 fixed a$5et investrnents. Funds are held across a number of savings accounts and our Oj￿￿¢ ac(yyJnts. The welj from Ihese savings acumjnts ￿u$ income frixn subscr1ptic￿s, meelings and evenls. partnerships and ￿￿malS is more Ihan l￿ded to meet the Sl￿￿ty's expenses. 13 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee TRUSTEES. REPORT (continued !Investm•nt poli¢y This inveslmenl policy 9uides Investn￿￿1 decisions of RSTMH. It updates thé ￿veStMent bwrtt8n prior to 2017. whKh ￿ now out old8te due to 8 ¢harvJe in sltslegy. 111 General 8ackground and Flnancial Obj•cttves The overall 8nK)unt of lunds that RSTMH has availabkd 15 arouTrJ £1.3m- as of 1 August 2023, indudiThJ balance ol c£O.1m that is required lor ong¢ing Opera￿￿1a1 reqU1￿ments Up to June 2023 the majority of these fvnds were held in an Edentree mixed invèstment prfolio, ￿1th enabled capilal gain and income to be eame(I, o¥eT the lorvJer tem. on the fvThJs whth were not needed for day to day IMJv￿￿lty or cyerat*)ns. The had a medATh nsk profi￿ bth was svt4.ect to Ihe volatilty of the equitie5 market. The balance ol the funds were kepl in a gn)up of instsnl accAss a(Ywits. to be dtr•m as r￿8ded over Ihe 5 years for operatDns aryj cashfkn¥. They ￿aYed an important rol8 for RSTMH subsidising core spending to meet obiects've$. In 202212023. Ihe operational der￿l was-£60.CKKI and a new &year strategy. starting last year, 2023, aims for the net position to be at least break even. with income tovwlng costs for the c(MJtse of the 5 year strategy. The balance held in instant access has now been use(l. as expected. and a decisi¢)n was also made tts remove the funds in Ihe Edenlree mixed investmenl r*NifoJv). This was primarity due to th8 existing fur￿ dosing and equity volatility over recent ye￿5 meaning Ihat retums had been very h)w. Following consuttation with the Board and a Ihird paty charity advice company (Yokel, th8 conclusion was that in view of the higher levels of wjterest availabk on cash at presen¢ (about 4%>. invesb.ng entirely in saler assets would be appfopriate until our kJr*Jer te￿ financ£ requirements berThie [￿re certain. The ¢Jecision was made to p*e this lund ofamund £1.2m. w a mix offixed int¥est accounts. the InS￿niS plaffomi. for a range ol ierms be￿een 3 monlhs and 12 m(mths. This policy seeks to rnaximi50 inleresl eamed bul ensure fuThls are av3ilab18 when rtquired. 1111 Restrlctlon on RSTMH assets There are few restrictions on the us• of RSTMH fjn&Kial assèts 8XC•Pt for a commrtment lo ￿sIn"¢tell funds in a nvrnbef ol a￿a$. These a￿ mostty funds eslablished many years ago lo recognise or commemorate Fellow of RSTMH vtho have died. Their families donated an amount of money to RSTMH to be used in Specific ways, as agreed by the Couneil of Ihe time. Now, many years on, some of these funds ￿MaIn. anLI a￿ liste(1 in o accounts. RSTMH has been spending d(Y•m these fvnds as per their guidance and in 2023 there Terna￿e £68.500 out of totsl funds ol the Swety of £1.581,059. Each year some restricted fund5 are re￿1ve{l for the purposes of our grants and jouma15 programrne5. In 22123 thi5 amounted to £988.282 and we anlicipale these funds lo be lully drnwn down in the year they received. or the financial year diwuy. after as they are linked to Ihe Current adiwties of Ihe swety. Over the course of ￿ 5 year¥ we exped this prcvss to conlinue. There are no olher r*stn"et￿S on th• use of RSTMH assets. The ￿tiCleS ofAssocialion of RSTKtrI skn"pulat• that the management and oversight of investments of RSTMH fvnds be led by the Finance and Audit Comrnittee. whose d8CaSKJns must be raIrf￿￿ by the main RSTMH Board. Illil Governan Day lo day deri510ns aboLrt thè ulilisation of funds. w)chyJirwJ any investments. namoly.. - The fomi of investrnenl meth(*l and thannd thal $h(KthJ be used - The timing of any depjsits aThJ withdrawa15 - Any impact ol monlhly or quarterly perfo￿lanCe are L*scussed wth the T￿aSU￿r and al the FinatKe and Audit Comrnittee and matters of slralegy a￿ Ihen escalateLI to the Board. 14 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee TRUSTEES. REPORT continued Inveslm•nt Obl*¢ti¥es Over the next 5 years, 2024-2028, the RSTMH would likt ils remaining funds to remain accessible vAth a maximum temi being 12 monlhs. $0 they can be drawn upon shwld they be required. An operatiThJ baL4nce wll be kept in the RSTMH ¢JJr￿t to al short ttrrm {kss Ihan 90 days) whi15t 8aming a basic inler8sl relurn rf p￿ble. The iisk profile ol RSTMH investments is k)W•risk. with the goal of ￿uardIng ￿mainIng fvnds ar#J managin9 its cashflow requirements. Liquidity R•qulr•m•nts The ￿'quIdity requirement of RSTMH to tjalats ¢2sh peaks arml Iroughs ts estimated to be M3￿mU £150,000 per year. To manage our ongK)Ing ¢ashfflow needs. this operating amwnt of around £150,000 is to be kept in the main Natwest bank ac¢(wJnt to ensure ongoing lAU￿￿ty aThJ eover for the Fis• and fall of cashlkn¥ during the financial year ￿S￿lting from the timing of our act&￿tieS. SIKJrt tefft savings accounts wlhin Nat West portfol￿ ￿11 be Used to maXirn￿e the a￿￿Unt of funds e2min9 interest wknen the￿ is an operatin9 SU￿lUs. A 90 (Jay cashflow tracking mtsael v•ill bts each ffl¢)nth to trac* upcomirrfj cash needs and place funds accordingty. Ethical engagement and in¥eslmenl RSTMH has an ethic21 engagement policy. to rellect its afr￿$ of assOciatK￿ and its ststegy. This is relevant for its inve5tment5, Partnership and otherw)Tk. Under this policy arrnarr￿nts and tobar￿0 are excluded industri8s and al other compani8s arè r•vw*d on a ca58 by cas• basis. RSTMH believes strOThg￿ that it should not accept donation$ or sponsorship or inv85t funds in compan￿$ that harm the cofflmunities whith it 5UPPOrt5 through it5 wo¥k. Thi5 indud8s communibes wh) are affected by tropical diseases. Man49emenL Reporting and MonltorSng lil Management RSTMH will manage its hJnd5 alongside its l¥)uidity requirefflents ￿ a monlhly basis and report to the Finance and Audit Committee quarterty. lill Reportirrfj RSTMH will Sts funds wtrekly, th casMk)w I￿e￿ts prcrfJue8d for a roNing go-day period and ièviawad with the Treasurer at least once a wwth. liiil Monituir The Finance and Audrt Commrttee. whth ¢>¥ersees RSTMH finarKes meets every quarter and ¥*ill indude a revièw of both managerT*nl acujunts aThJ cashfkyw requireirents as a siandin9 ￿efida itern. Appmval and Review This investment policy *ill lje reviewed every 2 yeJ5 in advance of the AGM and any thanges in the policy will need lo be lo be approved by Bo*d ol Tnjstees. lil Reporbng RSTMH reports its investments [l￿th￿, lo be into management a￿o￿nIS. 15 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom n Limited b Guarantee TRUSTEES. REPORT continued lill Monitoring The Finance and Audit CornmitlÈe, which IwttsÈes the invtStrnÈnt strategy and delNery, meèts every quarter. Currenlly no external guest5 are required lo attend. Return5 on investment ￿11 be reviewed at these quarterfy meetings. With a review of the performance of investment to be carried oul every year. Appmval and Review This investment policy was lasl revivwed in September 2023 aThJ Mll be rtwewed again ￿ Septernter 2025. Grant-making policy The Society launched a new 9rant round in January 2024. inf¢xmed by Ihe outcune5 and *miTh3$ from the 2022-23 grnnts rounds. Grants continue to be assessed by a group ofvolunt3ry Global Assess0￿. se￿Cted by the Grants and Awards Committee. and approved by the Trustees. Grant appltats.ons are ￿vieWed by at least 2 Gknbal AsSesSc￿. Going concern The Truslees have assessed wholhw thè use ofthe gong concom basis is appropriate and have considered P0S5ible events or condrtions Ihat mwjht cast Slgnrficant doubt on the ability of the company to continue as a going conc8m. The Trustees have made this asSessrr￿I foT a period ofat least one year trorn the dale of approval tsl the financial statements. In partDJlar the Trustees have consKlered the companls forecast and projections and have taken into accthjnt the irnpa￿ of the C￿ona￿rUS pandernic on all of its actT¥ilies and investrnent income. Investment value has been rn￿e stable in this pericMI. The Truslees moved investmenl funds Irom a managed portlolio fund on June 2nd to a (olecl•Jn of current accounts which have paid int8rest at just over 5%, for the remainder of the year. and reinoved Ihe risk of IDSINJ capital. In lemis of Ihe mov•mant in overall funds Ihe soriety made a bss of £173.162 OF which £52.040 was due to the loss of value of inveslments at the point of sale. The society expected to break even in th15 year bul due to the timings of payment5 of around £150.000 of income vthich is now going lo be rewved in 24125. bthich should erKI with a healthy surplus. As of 31 March 2024 the charitable o)mpany has free lunrestricieLII reserves of £1.288.915 therelore thè tnJste•s bèlieve the ccrnpany has adequate resources io continue in op8rati¢)n for at least ￿e1ve month$ from the approval of the ￿anual staternenis. The company thèrefore continues to adopl the going cortcern basis in preparing its ffinar￿1 statements. 16 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee TRUSTEES. REPORT continued ststement ol the Trustees. responsibililies Rele￿n￿ aThY adnMntstratNe information sel 0￿ on pagt trffee fms part of ttws rewjrt. The financial $t8ternents compty wth CAJrrent ststutory requirwrents. the Menvandum and ol A$s￿latiOn and thg Financi￿ R¢portiThJ Standard IFRS1021. Company law requires the Trusle85 to Prepa￿ finanoal 5taternents foT each firwncial year which give a tru* and fair wew ol the state of affairs of the charitable company aThJ the incomirKJ resources and applicab.on of resources, including the irKA)rne and expenditure, ofthe charitth company, for that period. In preparing these finanoal ststernents the Tn￿let$ are required to-. Select suitable arU￿ntir￿j pohcw and then apply them cmsistenuy: Observe th8 tnelh(Kls and pnncipks in the FRS102,. Make jud9emenl5 and esb"males that are reasonable pwdent., Stste whether applicaue UK Accounting Standards and the FRS102 have b88n followed. subject to any material departures disdosed explaine(l in the finanLyal statements,. and Prepare the finana81 sta¢ements on the going con(*m basis, un18SS it is inappropriate to presume that thè chanty wll continu8 in (Wa￿￿. The Twstees are respcmisibb for keepi￿ woper a¢counling re￿r(l$ that dwlose vith ￿asonable accwacy at any *'rne Ihe financt81 p051tion ol Ihe charitalAe company 8nd enalAe Ihem io ensure that the fjnancsal statements cornply with the Compani8s Acl 2Cth. They are also ￿ponSIble for safeguardmg the a5S8t5 01 the charitabt¢ ¢rJmpany and hence taking reasonable st¢ps fty the preventi￿ and detection of Iraud and other irrt9ularilie$. In so far a5 the Trustee5 are aw3re- The￿ is no rebvanl audit information ofwhich Ihe charitabk company's auditors are awa￿.. and The trustees have taken all sleps Ihat tr￿Y ou9ht io have tsken to make themselv8s aware of any levant audit infrymatH)n and to *sta￿lsh that Ihe audit￿$ are aware ol that Infomialion. The Trustees are resp)nsible for the maintenance and integity of the charity an¢J financial inf0m￿ti￿ included On Iht charity's website. Legislation in the United Kingdom governing the preparatw and dissernination of financial statements may dtffer from *islat*Jh in Other￿n$dIction$. mefflbe￿ gf the charity guaranlee lo contribute an amowjt Tr)t exceeiling £1 to Ihe assets of the Charty in Ihe event of winding up. Th8 Trustees are memb8rs of the tharity, but this ent￿e$ Ihem onty to votiNJ rights. The Trustees hav• no bene￿"al interest in the tharity. Auditors Knox Cropper were appointed as the clwiiable o)rryany's audrtors in Octrkn 2021. Approved by Trusie*s ort and sigft¢d ￿ Ih•"r behall ty Professor Jimmy Whih4vth. Presidenl ol the ROY￿ Sc¢iety of Trr4*cal IAethcine and Hygiene Date.. ,J,,12+ 17 ROYAL socIErY OF TROPICAL MEDICINE AND HYGIENE A Company Limited b Guarantee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL SOCIETY TROPICAL MEDICINE AND HYGEINE FOR THE YEAR ENDED 31 MARCH 2024 ¢)pinion We have audited the finanoal statements of Ihe Royal ol Tropical MedTrcin• aThl Hyyiène Ilhe 'charitsble Companll for the year ended 31 March 2024 whith comprise the Statement ol Financial Actiwties. the Balance Sheet, Staternent of Cash Fknws and notes Io Ihe financk81 statements. including a summary of significant accounting policies. The ffinanual reportiNJ framework that has been appts'ed in Iheir preparation is applicable law and United lQwYom Accwnting Standards. induding Finanual Reporting Standard 102 The Finan¢ial Reporbng Standard appli¢0È4e in the UK and Re￿bI￿ of Irelants IUnrte(l Kingdom Generaly Accepted Accounting Praclicel. In our opinion the finar￿JaI slat*ments= give a true and fair thew of the state of the charrtable affairs as at 31 March 2024 and of its income and expenditure for th8 year then ended.. have been propeity P￿pa￿d in accordance *ilh United knngjom Generalty Accepted Aceoun16ng PraclKe: and have been prepareLI in accordancè Ihe reqY￿en￿ts of Iho Corrpanies Act 2(Th. Basis fof opinion We conijucted our audit in aeeordanee wlh Intemaiic¥)al Stsndards on Audiknn9 (UK} IISAS IUKII and applicable law. thjr resrthsibilities undev those stsndard5 are furlher described in the Aud[IL￿5 re5POW15ibilith"es for Ihe audit of the financial statements seolion of wr report. We are indepen¢leni of the charitable ￿rnpany in accordance vlith the ethical requirement5 thal are relevant to audit of the finanrial 5ts1err*nts in the UK, including the FRC'S Ethical Standard. and we have luffilled our other ethtcal r8sponsibihb"e5 in accordance wrth these requiremenls. We beI￿ve thal the audil evKJen¢e we have obtsined is sufficienl and 4)propnate to provide a basis for our ownion. Con¢lu$ion$ r•latin9 to goin9 ¢onc•m In audilin9 Ihe financial slatements. we have CO￿U￿e￿ that Ihg Irust•&s' us• of th• gx)iffJ corKem basis of accoyntin9 in the preparati¢)n of the finarKial staterwits is appropriate. Based on th8 woth have portomwd, w• have nol thn11t￿ 4ny malgrial unc8rtainb8s relakng lo •vants or conditions Ihat. indNidually or collecbvely. may casl signrftsnl ¢Joubl on Ihe Charitab￿ c4)mpanls ability to continue a5 a wng concem for a Fenod ofat least tsvelve months from when the financial statements are authrised f(¥ issue. Our r95ponsibiliti95 and th¢ resFwgbilits¢s olthe I￿￿tee$ wilh resped to 9(￿n9 conwn are described in Ih? rel￿an1 $ecti¢xts ol this rewt. O¢h•r inforn)ation The othèr inlorrnation fL¥nprisgs Ih8 info￿nati￿ inckthd in the annual ￿pryI. olher than the fiwrial stat•monts and tsjr audit￿.$ rep(￿ thawi. Thè tnjsteès ￿ feSF4Jnsiblé lor ihè sthèr infomiation. Our opinion on the finanaal slatemenls thes not cover the other lnfomial￿n a￿1 we do eX￿s$ any lonn of assurance cont￿$1￿ Ihereon. 18 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL SOCIETY TROPICAL MEDICINE AND HYGEINE FOR THE YEAR ENDED 31 MARCH 2024 Our responsilMIty is lo ￿ad the other inforrnation and. in d￿r￿j so. rA)nsider whether the other information is materially Inconsistent with the ffinanoal statements. or rMJr kfi￿￿eége obtainèd in the coutse af the audr( or othemise ap￿a￿S to be materialty misstated. If we identsfy such material in￿nsisten¢t$ or apparent material rnisstalements, we are wuired io delennine whether Ihis gives rise to a material misstatement in the financk81 slaternent5 themselves. If. based on the *YMk we have performed. we concknde that Ihere is a materhgl missiatement of Ihis other infom)atK)n. we are required to report that tsct. We have nothin9 to r8port in this regard. Opinions on oth¢¢ matt•rs pr•$¢rlbed by th• Conwni•s Ad 2006 In ow opinion, baséd ￿ the undertaken in the course of the audit.. Ihe Inf￿rna￿0rt given in the Report of Ihe Tntstees, which wicludes the directors. ￿port prepared for the purposes of company law. for th8 finawal year for whi(* the finatKwl ststements a￿ P￿pared. is c￿nsIStent wthh the financial ststements.. 8nd the diw¢or$' report indu¢Jed within Ihe Rew1 01 the Trustees has been li accordance with applKatAe 18gal requirements. Mattgrs on which we are requlred to report by ex¢epllon In the light ol the knowledge and understarnlin9 ofthe charitsbb ¢r*wny and ils enwronment oblained in the course of Ihe 3udrt. we have not wjentffied materia misstatements in the d￿eCtO15. r8WJrt Ir￿l￿ded the tru51ees' report. We have nothing to reF*Jrt in respecl of Ihtt fc4b*M'ng maiters where the Companies Act 20C6 requires us to report to you if, in our opinion-. adequate accountin9 records have not been kept. C￿ relvms adequate for audrt have not been receive(I from branches not visiled by us.. thè financial statemènts are not agreement with the aco)unltng recor¢Js and retums,. or rtain disdosure$ ol tnJslees' remuneration speofied by are not rnade,. or we have not received all the Inlomia¢w)n and explanatK)n$ we require lor our auL*I. the tntstees were not ent￿e￿ to prepare the fin3rri21 statements in accordance with the small CoMpan￿S regimè and take advantage of the Small companies. exemption from the requirement lo prepare a StrategK Report or In p￿Pari￿j the Rèwt of the Difeciiys. Rgsponslbllltles of Trnst•¢$ As explained rnore fully in the Statement ofTrustees' Re¥￿n$￿Il￿tieS. Iwho are aLso the directors of the chariiable company lor the purposes of cornpany lawl are responsible for the preparatKJn r>f the financial ststements and for being Sa￿"$fied Ihal Ihey gbve a true and fair view, and for such intemal contrd as the trustees tle¢efmine is necessary to enable the preparaknn ol financial 5tatement5 thal a￿ free from material mtSsl8te￿￿nt. wheltrwdue to fraiKI or eThor. In weparir¥J the financkal statements, the trustees responsible lor assesyng the tharitable cornpany'5 ability to continue as a ￿Ing concem, discloyng. as appluble. matters relal*d to going COI￿rn and using th8 90ing o)ncem basis of a¢c¥Junting unless the twstees ether inteThJ to W4ul￿ate the Charitab￿ company or to ase operations, or have reathsbc aiemative but io do so. 19 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL SOCIETY TROPICAL MEDICINE AND HYGEINE FOR THE YEAR ENDED 31 MARCH 2024 Auditor's re$ponsibilitie$ lor the audit of the financi•l stslements Our objectives are to obtain reasonable assurance about whelher the finantial statements as a %thok are free from matenal mksslatement. whether dve io Ira￿j or errc¥. and to k%sue an audrtc¢s rerM)rt that in¢I￿leS our opinion. Reasonable a$5urance is 3 h￿h level of assuran￿. but is not 0 9iJarantee that an aLKlit conducted in accordance wth ISAS IUK} will a￿ayS detect a mateiial rni%slatement when it e￿Sts. Misstatements can arise Irorn fraud or error and are considered material rf. individually or in aggregate. they could reasonably be expected to influence the economic decbsions ol users l&ken the basis ol Ihese ￿a￿rial statements. Irregularikn"es, Ind￿*r￿j fraud. ar8 instanc*5 of non-comp1ar￿e wth laws and ￿gUlat￿)￿s. We de￿9n procedures in lina wth our r8spollsibihlies. i¥Jth"ned above. to detect material rnisslatern8nts in respect of irregulants"es, including fvaud. The exlenl to whth ow ptocedures arè Capab￿ of delockn.ng iriewlaiities, including fraud is detaile)st relatgs diredly to that activity. Support costs ara alwxated to exh of lh8 aclNits8$ on lh8 followng basi5 whKh is an estimale, based on stalf of lh8 amount attribulabk lo each core activity. 2024 2023 Mernber5hip costs Joumals Meetsngs and events Grants. meda15 aThJ awards 27% 20% 17% 36% 25Y• 22% 31% AN 8xpenditure r5 ￿￿s1¥e oftrrecoverabl8 VAT. Grants payable a￿ ¢*wged yearwhen the offer t5 made. 1.6 Inlangibl• fix•d ass•ts and ￿n￿rt1$allOn Intangible assets costs.ng £1,OCKJ or wr￿e are cawtalised and r*￿TriSed vthen fubjrè economic benefits a￿ probatle aThJ the cost or value of the asset can be measured ￿llabty. Intangible asset5 a￿ initially re￿gniSed ?1 cos1 and are subsequenlly rnea5ured a¢ u)st nel of arn￿￿58t10n and any provis￿ for Nnpairm8nt. Current amcfbsalion rates are as follows.. Webste and CRM sy*ms straighl linè 1.7 Tangitsh fixed a55ets and depreciation All assets costing more than £500 are capilalised. Tangible fixed assets are carried at ￿51 or valuation, nei of depreciation and any provisiC￿ for impaimient. DepreciatK)n is provhltd at rates cakulated to write off the cosi or valuaiion of fixed assets. less thwr estimated res¥Jual val￿. over their expected useful INes Ihe fdbwing bases.. Equipment and frjmiture 0￿ refurbtshmenl 20% 5traKJht line 10% stravJht line 1.8 In¥•slmwts Fixed a558t investrnent5 are a form of finanLial inslwwnenl antl are Initially recLwJn15ed at th8ir trav5action Cost ard subsequently measured at fair value al the Ba13nce Sheet date, unless lair value cannol be measured ￿lIab￿ in vttl￿h case 1¢ is measured at cost less imparm*nl. Investmen¢ 9ain$ and losses. whether realised or uNealised. are combbned and SW ts) Ihe headIn9'GaIn￿lI0sSesI on investments, in the Statemenl ol Finanoal ktmties. 27 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guaianlee Notes to the financial $tatem¢nt$ For the ear ended 31 March 2024 1.9 Debtorn Trade and other deblors a￿ recognised ai the settitm8nt a￿nI after any tradè di5COUTrt offe￿. Prepayments we value(l at the amount prepaHY nei of any trade ijiscounts due. 1.1D Cash at bank al￿ in hand Cash at bank a￿1 in hand includes Gqsh and short temi highty liquKI investments with a Short maturity of Ihree months or less from thè date of acquisition or opersing of the depo%t or sirni18r accL)unt. Cash al bank ￿th a maturity of over three rTh)nths bJt less Ihan one year is sh¢)wn as'Lash deposits, in current assets in Ihe balance sheeL 1.11 Cr•diloYs and prnvlslg Liatslits"es ale rewnised *then there is an oblvjalion at the BaLqrTrce Sh8el date as a resutt of a past èvent, it is probable Ihat a transfer ol ecornmic benefft wll ￿ required in a seiuement, and the amount of the sethement can be estsmaled celiabty- Liabilities we wntsed at the amount that the Charitable Company anticipat8s il wll pay to settle the debl or the affwnt it has r￿1V&￿ as advanced payments for the goc*Js or services bt must provide. Provi5K)ns are rneasured at the best èstirnale of the amounts required to setue the obliga11￿. Wherè thtr effecl of the ￿"rne value of money is material. the Provisir￿ 15 based on Ihe [￿esent value of Ihose amounls. ¢Yix¢)unted al the pre-18X discount rate that rellects the risk5 specific to the liability. The unwnding of the discount is recognised within interest payable and chwges. 1.12 Finaneoal instnHnents The Charitable Conwany onty has ￿anual assets aThJ lia￿.1￿*$ of a kn.nd Ihat walify as bas financial instruments. Basic financial instwments are inib.ally reo)gnised at trar￿a¢b"on value and subse(WOnlly maasured at Ihw settlement va￿￿. wmth Ihe gwplw ol.. Frxèd assèts whtth are Measured at O)5t less depr￿911￿. Inlangbi k assets are measuret1 at cost less amortisation; Investments m the charity's pothh'o wthich are measured at thwr fair value as at Ihe balance sheel dale. The valu• of Investn￿ts is stated in rwjl? 13. 1.13 Foreign currencies The finaNal slaternents pre58nt8d in is Ihe functional Trjrrency of the Chaiitab Cc¥npany. Monetsry assets and liabilitw denominated in fore¥Jn currenues are translated into sterfing at r*es of gxtharge ru&r#J at the ba*ncE sheet date. Transactions in foreKJn cuwr•rteiès afv translated into sterfing at the rate ruling on the date of the transaction. Exchange gains and rosses are ret￿N$ed ihè Statement Of Finaroal Actmt1￿. 1.14 Op•iatln9 1•a￿8 Renta15 under operaling ￿SeS are charged trj ts Statenwt ol Financial Actiwtyes in¢orporatirvJ Income and EXpeThJItu￿ Acce￿rt on a straight b8515 over the lease tern. 28 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom an Limited b Guarantee Notes to the financial staternents For the ear ended 31 March 2024 1.15 P•nsion$ The Charitsble Company operates a defined benefrt pensKJn s¢herne and the pension tharge represents the amounts payab￿ by Ihe ChantaNe Company to the fvnd In respect ofthe year. 1.16 Fund accounting General hJnd5 are unreslricted funds *thich are available fr*use 8t the disc￿11￿ of Ihe Tmstees in furtherance of the general objective5 of the Charitable Company and whth have not been desKJnated for other purposes. Designated funds comprise un￿trI￿ed fvnds that have been set aside by the Truslees for particular purpos8s. Thg aim and use ofeath dg$wJr￿teil is set out in th8 notes to the fiThanck81 stalemenis. Restrided funds a￿ funds which a￿ lo be used n acc4ydance vAth 5peufic restrictions imposed by donors ar which have been raised by the Charitsble Cornpany for parts¢JJlar purposes. The eosts ol raisiThJ administering such furKJs are chaw againsi the speufic fuThJ. The aim and use of each restricted ftjnd is set out in the notes to the financwl Stslements. 1.17 Crltical accountin9 eswmales and areas of jud9emen¢ In Ihe wew of the trUs￿eS In applying the accounting pol￿e$ adopted. no cntieal aeetyJnting estmates and judgements weo requi￿ Ihat have a shJnifi¢ant effed on the amounts recognised in the finanrial 5taternents nor do any 851imates or assumptions carry a %gnifKant risk of rnalerial adjustment In the next financkil year. 29 ROYAL SOCIEry OF TROPICAL MEDICINE AND HYGIENE Acom Lirnited b Guarantee Notes to the financial slatements Fcrthe ear ended 31 March 2024 an I Income from donatlons and grants Unr85tricted fvnds 2024 Restricted fund$ 2024 Total funds 2024 Total funds 2023 DonatK¥)s and legaciès Grants 7.195 288,116 29S.311 7.195 1,493.611 1.$00.806 4.849 1,172,491 1.177.340 1,205,495 1205.495 Total 2023 240.555 936.785 1,177,340 In 2023 donations and legacies of £4,849 were in rektion to unr85tricled funds. G￿ts w*+ £1,172,491 of whth £235.7￿ We￿ unrestricle(l and £936,785 We￿ festricted. Income from ¢haritable aetiviiits Unr•strl¢ted R•strlcted lunds fund5 2024 2024 Total funds 2024 Total funds 2023 Menknrship subS￿p1K)nS Joumals 8nd PublICa￿On￿ Meetings and Events 52,844 209.280 37,234 12,350 Is.￿0 65,194 234.780 37.234 49,086 232,521 21,589 299.358 37.850 337.208 303,196 Total 2023 251.699 51.497 303.196 In 2023 Memt*rsh¥) subsulpt￿ IFelowKs Annual Sub5cripb"on51 were £49.086. of which £40,139 were unrestricted and £8.947 We￿ reslrtcted. Jwmals and Publications were £232.521 01 which £189,971 We￿ Un￿tricted and £42.5￿1 was reslricted. Meetings and Evenls of £21.589 was Un￿$trI￿e￿. In¥estment in¢ome Unre5trict•d Restrict fund$ lunds 2024 2024 Totsl funds 2024 Ttstal fun¢Js 2023 knvestment irKorné 57,456 57.456 77,681 Total 2023 77.681 77.681 2023. inveslment income of £TI,6B1 was unrestwthd. Trading Incom* Unrestrlcted Restrl¢ted nds fund$ 2024 2024 Total fund$ 2024 Total funds 2023 Income frcmn room hiro 1,453 Total 2023 1.453 1.453 in 2023 incorne from r(xJm trmre of £1.453 was Un￿striCte 1.43*027 125 (741•7) 113,05•1 1M36,$02 152.0401 651135 13.VJJ 1314 1163 2.314 2.1 23.551 30.355 ChattvrtkLettu¢ Funo Pres￿￿￿¥$ FL 11230,4•SJ (25,5•D) 1m1470 37 (Acryany LrfNEU by NOTESTOTHE FlN￿￿LsTATEIIENTs FOR ThEVEARENtW31 *4RCH2424 17. Stat￿laI￿rA11 (Cthln￿dl 4or42 Éwln9L•adÉrsAwatd Fw 1s.oo •n•rnlfur Gèn8￿ funth Iwi,n6 571 161&1 14150 1.542.624 112J.s•n 114B.WI 140.003 Totsl unr•itiKMdfur 1.619,IB2 571 621. 16.150 1314 11$3 24JOI 1314 Chad¥M& LEduie Fu￿j Pros￿￿ Fund FL 19.4211 5.7321 I￿.55D> FuDds 1415• {141W 9MJS0 T￿￿lundS 1.713,1 1.5$9.92Z 1.621.1)2 148.OSJ 1.507.527 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Ststement of funds l¢ontinued) Restricted fvnds The Chalmers Memorial Fund was established to suppxl the cost of an annual awa￿ in recogniti￿ of researth or outsianding o)ntribub"ons in Iro￿¢31 medKine or hy9￿The. The Chadwck Le¢lur8 Fund was eslablished lo th• cost of a lecttjreship on some aspect of tropic￿ medicin8. Thè Sir Leonard Rogèr5 Fund was aS￿bl￿h8d to Supp￿ ￿ cost ofo¥ors6as ￿￿￿"¥•$ or expeditions to tropical c￿￿ntiles by m8dKal or xience sluderts. The P￿s￿entS Fund was establishad to support tho S￿*s¢nptsjTh o)st for ¢knor¥ing 4)￿l¢ants from devel)ping ctyJntries. The Denis 8urkitt Felb)wship Fund was establishe(I lo suppwt Ihe cost of h¥0 awards a year for practical tr￿"￿ing, travel or th.reci assistance in relath.on to specrfic ffiekhvork. This year RSTMH received £1.217,845 of total restricted fvnds from the Na￿.on31 Instiiule for Health Research INIHRI. Chi￿ren$ Investment Fund Foundakn"on. the Wellcome Trust. the Intemalional Trachoma Initiative IITII. and the 1nternaty.onal Al￿1n¢e for the tstrol of Scabies IIACSI wth grants of £1,006.482. £141,773. £50.484. £14.915 and £4.192 ￿$￿Il¥ely to tr* used for grant awards as part of IPre RSTMH Earfy Career Grants Programme 2024 and RSTMH membership. The movement of£13,050 ￿tateS to a tim￿9 difference rela￿Tr9 lo a gr￿t award whth retumed and ro awarded. Designated funds The Emerging Leaders Award Fund reptesents lunds that have been ¢j￿gnated to r8cognise $Kjnrf￿ant contributws in leadership and seThKe. incwirg mentoring and olher forms of capauty-building. io the r￿Id$ of Iropic￿ medione and gIc￿81 health. A £S,(Kl) cash prize is awarded annually. 39 ROYAL SOCIETY OF TROPICAL MEDICINE AND HYGIENE Acom Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 an 18. Anatysls of n•t assets bel**•n funds Unrestricted Restricted funds funds 2024 2024 Total fund$ 2024 Intan9ible fixed assets Tangible fixed assets Fixed asset investment8 Curr8nt a5S8tS Creijitors due in than one year 37.982 10.71S 37,982 10.715 1246.932 {19.7641 1.305.432 (19,7641 1.275,865 58.500 1.334.365 Comparavve note Unr•stri¢t•d Restricted funds 2023 Total funds 2023 2023 Intan￿b￿ fixed assets Tangible fixed assets Fix8d asset inve51ments Currenl assets Creditors due in more than one year 46.728 10,615 1.449.081 150.5531 116,8441 46.728 10,615 1,449,081 17.947 {16,8441 1.439.027 68.500 1.507,527 19. Pension eommitrnents The Charity operates a defined contribukns pensi(￿ thme. The assets of the scheme affj hel Separately from those ol lh8 Chanty ￿ an independenly administered fvnd. The pertsion ¢ost char98 rep￿SentS contributKJns payaNe by the Charity to the fvThJ and amounted to £16,871 12023.. £14,716). C￿tribUtiOnS I￿￿11r0 £2,06012023: £1.9)71 were payable to the fund at Balance Sheet date. ￿n5￿)n costs a￿ alk)¢aleiJ to Supp￿ costs and are ￿￿tricted funts. 20. Opwaling hase ¢ommi¢rnents At 31 March 2024 the total of Ihe Charivs fuiure mini￿rn knse payments under ￿n￿nCelIabl9 operatin9 leases was.. 2024 2023 Land and bulldlngs Within 1 year 2 and S ytsars 79,311 118,967 198,2TB 33.073 33.073 21. R•lat¢d party di5c105ufes There have been no related party transxiions in the reportry peri&J12023.' none) other Ihan Ihe TnJstees' expenses already disck>5ed in Th)te 10. 40