OpenCharities

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

2020-08-31-accounts

Charity Registration Number: 1148145 Company Registration Number: 06672185 (England and Wales)

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

CONTENTS

Page
Legal and administrative information 2
Trustees’ Report 3 to 7
Independent examiners report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 to 17

1

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

LEGAL AND ADMINSTRATIVE INFORMATION

Trustees

Prof J Newell-Price Prof J Ramage Prof T H Shah Prof C Thirwell – appointed 2 December 2019 Prof J W Valle – resigned 2 December 2019

Registered Office

Athenia House 10-14 Andover Road Winchester Hampshire SO23 7BS

Charity number: 1148145

Company number: 06672185 (registered in England and Wales)

Independent Examiner

BVSC 138 Digbeth Birmingham B5 6DR

2

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 AUGUST 2020

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and unaudited financial statements of the charity for the year ending 31 August 2020.

Trustees

The trustees, who are also the directors for the purposes of company law, and who served during the year and up to the date of signature of the unaudited financial statements were:

Prof J Newell-Price

Prof J Ramage

Prof T H Shah

Prof C Thirlwell – appointed 2 December 2019

Prof J W Valle – resigned 2 December 2019

None of the directors has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of winding up.

The Society has two main categories of membership as follows: Clinician and Consultant Members; Trainee, Nurse, Scientist and Allied Health Professional Members. The latter are given the option of membership with or without inclusive ENETS membership. Membership of the charity is open to any medical professionals or organisations interested in promoting the objects.

Governing document

The UK and Ireland Neuroendocrine Tumour Society Limited (UKI NETS) is constituted by its Memorandum & Articles of Association, adopted by the membership on 1 December 2014, and is a registered charity. UKI NETS became a company limited by guarantee on 13 August 2008 and was subsequently registered as a charity on 16 July 2012.

Organisational structure

The Society has two main categories of membership as follows: Clinician and Consultant Members; Trainee, Nurse, Scientist and Allied Health Professional Members. The latter are given the option of membership with or without inclusive ENETS membership. Membership of the charity is open to any medical professionals or organisations interested in promoting the objects.

The Society is governed by four Executive Officers, who are the directors and trustees (Chair, Past Chair, Treasurer and Secretary), supported by a wider Executive Committee, which includes chairs of the sub committees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

3

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 AUGUST 2020

Objectives and activities

The charity’s objects are to promote for the public benefit research, education and clinical practice in neuroendocrine tumours by the organisation of conferences, training courses and publications, by raising public awareness, liaison with national and international legislators, and by any other appropriate means. The Society aims to improve the diagnosis and therapy of patients with neuroendocrine tumours within a national multidisciplinary and scientific context.

In furtherance of its objects, the Society shall have the following powers:

  1. To arrange and provide for the holding of meetings, lectures and seminars.

  2. To procure to be written and print, publish, issue and circulate gratuitously or otherwise such papers, periodicals, pamphlets or other documents.

  3. To raise funds and to invite and receive contributions from any person or persons whatsoever by way of subscriptions and otherwise provided that the Society shall not undertake any permanent trading activities in raising funds for its primary charitable objectives.

  4. To co-operate, associate or affiliate with any other charitable institutions.

  5. To do all such other lawful things as are necessary for the attainment of the above objectives.

The summary of main activities in relation to the charity objectives are as follows:

Achievements and performance

UKI NETS 17[th] Annual Conference: Birmingham, December 2019

The 17th Annual Conference of the Society was held on 2 December 2019 at the MacDonald Burlington Hotel in Birmingham. This was the third time that the conference had been held outside London and the Society welcomed 229 people to the event, with the biggest number of delegates seen at a UKI NETS conference. The morning sessions focused on Daily Clinical dilemmas in NEN & NEN disease from patients’ perspective and Optimal surgical approach for GEP-NEN in 2019. A Challenging the Experts session in the afternoon gave the opportunity for delegates to quiz a range of experts, including a gastroenterologist, endocrinologist, oncologist, surgeon, histopathologist, radiologist, nuclear medicine physician and nurse specialist. Following this was a session on translational science where the international guest speaker, Prof Eric Raymond from France, gave an insight into Translational science in NETS opportunities and pitfalls, while previous UKINETS Research Grant winners gave updates on their projects and the grant for 2019 was awarded. Also in the afternoon, the 3 selected oral presentations all addressed important topics. The final session focused on Liver Transplantation for NEN. The day ended with a Clinical Trials Update and a Prize Giving session.

4

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 AUGUST 2020

Provision of travel grants

The 10 highest scoring abstracts submitted to the 17[th] Annual Conference were awarded travel grants to attend the conference. Non-members were awarded this grant in the form of complimentary membership for the next membership year.

Provision of meeting awards

Prizes were awarded to the best scoring clinical and scientific posters and oral communication at the 17[th] Annual Conference.

Provision of Research grants

UKI NETS and the NET Patient Foundation awarded one research grant of £25k to provide pumppriming funds to support research a project aimed at improving outcomes for patients with Neuroendocrine Tumours.

Public Engagement

UKI NETS members speak regularly at regional events aimed to help NET patients across the UK in collaboration with the NET Patient Foundation and other organisations.

Educational activities

UKINETS organised a NETs for Newcomers Training Day (formerly NET Basics Day) in September 2019, in London, with 55 attendees. The aims of this training day were to give participants (including trainees and consultants who may have little or no experience of NETs) an introduction to NET medicine and:

  1. To feel confident to plan outpatient care and initial investigations for a patient with a NET

  2. To be able to present the patient to the NET MDT including awareness of terminology

  3. To independently manage side effects of carcinoid syndrome and commonly used treatments for NET tumours

UKINETS continues to expand its Library of Bitesize Guidance which is available on the UKINETS website. These are accessible clinical documents relating to specific areas of NET management.

Dietitians’ Working Group

The chair of the dietitians’ working group remained as a co-optee on the Executive Committee.

Sponsor Support

There was financial support to the Society in the form of sponsorship from companies throughout the pharmaceutical industry. The majority of the funding was provided as sponsorship for the National Conference and NETs Basics Training Day. Sponsorship packages were developed by the Treasurer to give companies options for different levels and areas of support moving forwards.

5

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS REPORT) YEAR ENDED 31 AUGUST 2020

Website

The charity’s website provides an important tool to inform members and the general public about the activities of the Society. http://www.ukinets.org.

Communications

UKI NETS communicates with its members by means of a newsletter containing highlights from previous conferences, information on clinical trials and other Society news. In addition, the charity highlights on its website news stories from the media relating to the field of neuroendocrine tumours. The charity also has its own Twitter account @UKINETS.

PROMNET app

Along with the NET Patient Foundation, UKINETS continued to be involved in a project to develop a mobile application to empower patients with regards to managing their neuroendocrine tumour. The app gained IRAS approval in 2020 and will act as a tool for patients to track their symptoms, collect data and communicate with the clinical team. The development of the app was funded by Imaging Equipment Ltd.

Clinical Trials

The NET Clinical Studies Group which monitors and compiles summaries of clinical trials presents updates and reports at the UKINETS Annual Conference. The Research Sub-Committee of UKINETS also aims to keep the UKINETs website and NET Patient Foundation up to date with trials that are currently recruiting.

UKI NETS worked with the Liver Advisory Group to secure approval of a pilot study for liver transplantation in NET liver metastases. This is a major new development in management of NETs and will provide significant research opportunities. The pilot programme will be overseen by UKINETS in collaboration with and participation by the UK and Ireland ENET Centres of Excellence as well as Liver Advisory Group and Specialist Interest Group for Transplant Oncology. UKINETS will need to provide leadership and logistics through a national delivery board.

COVID-19

UKINETS released guidance and statements regarding the evolving COVID-19 pandemic and its impact on NET patients and their HCPs.

Link with the European Neuroendocrine Tumour Society (ENETS)

UKI NETS continues to provide free membership to its members to its European partner Society, ENETS. Through membership of ENETS, UKI NETS members have access to the journal Neuroendocrinology and a reduced rate for the ENETS annual conference . This inclusive membership is optional for trainees, nurses, scientists and allied health professionals.

Financial review

Principal funding sources

Income to the Society is mainly generated through industry support, the annual conference and membership subscriptions. Personal donations/legacies are received on an ad hoc basis.

6

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS REPORT YEAR ENDED 31 AUGUST 2020

Reserves policy

The reserve policy takes into consideration the major risks that could face the Society.

It is the policy of the Society to maintain unrestricted funds, which are the free reserves of the charity. The reserves are held at a level that ensures the financial viability of the Society. That level is deemed to be one that equates to a minimum of one year’s expenditure. The balance sheet indicates that there are £110,711 unrestricted funds as at 31 August 2020. This provides sufficient funds to cover management, administration and support costs.

Plans for future periods

The UKI NETS 18th Annual Conference is scheduled to be held virtually in December 2020 due to the coronavirus pandemic, with content being released over four days. The first day will celebrate 20 years of UKI NETS and Advances in NET Diagnostic Approach.

Abstracts have been submitted as usual and prizes will be awarded to the highest scoring presentations during the conference.

Other plans for the coming year include:

Working with other societies and foundations to fund and promote NETS knowledge and research

The Trustees Report was approved by the Board of Trustees and signed on its behalf by:

Prof T H Shah

Dated:

7

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

INDEPENDENT EXAMINERS REPORT

TO THE TRUSTEES OF UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

I report to the trustees on my examination of the financial statements of UK and Ireland Neuroendocrine Tumour Society Limited for the year ending 31 August 2020.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for an independent examination. I report in respect of the examination of the charity’s financial statements carried out under section 144 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011Act.

Independent Examiner’s Statement

I have completed mu examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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

  4. the financial statements 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 financial statements to be reached.

Paul Bowater ACA Birmingham Voluntary Service Council 138 Digbeth Birmingham B5 6DR

Dated:

8

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 AUGUST 2020

Note
Income from;
Donations and legacies
3
Charitable activities
Sponsorship
4
Grants
4
Total income
Expenditure on;
Charitable activities
Research grant
Other charitable expenditure
5
Total charitable expenditure
Other resources expended
Total resources expended
Net income for the year/Net
movement in funds
Fund balances at 1 September
2019
Fund balances at 31 August
2020		 Unrestricted
funds
2020
£
16,544
117,983
134,527
-
87,638
87,638
68
87,706
46,821
57,048
103,869		 Restricted
funds
2020
£
-
-
-
-
-
10,053
10,053
-
10,053
(10,053)
44,378
34,325		 Total
2020
£
16,544
117,983
-
134,527
-
97,691
97,691
68
97,759
36,768
101,426
138,194		 Total
2019
£
43,664
78,620
-
122,284
25,000
120,716
145,716
62
145,778
(23,494)
124,920
101,426

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

9

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

BALANCE SHEET AS AT 31 AUGUST 2020

Note
Fixed assets
9
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due with one year
12

Net current assets
Total assets less current liabilities
Income funds
Restricted funds
14
Unrestricted funds		 2020
£
-
13,599
136,439
150,038
(11,844)

138,194
138,194
34,325
103,869
138,194		 2019
£
-
30,416
86,537
116,953
(15,527)
101,426
101,426
44,378
57,048
101,426

For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of the financial statements for the year ending 31 August 2020 in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on , and signed on behalf of the board by:

Prof T H Shah

Trustee

10

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020

1. Accounting Policies

Accounting convention

The accounts have been prepared in accordance with the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a “Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis if accounting in preparing the financial statements.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Incoming resources

These are included in the Statement of Financial Activities (SOFA) when:

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Charitable income includes sponsorship of the annual conference and contributions towards the charity’s objectives.

11

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020

1. Accounting Policies (continued)

Resources expended

Charitable activities includes all costs relating to the conference, newsletters and general administration, which support the charitable purpose.

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.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings that have been allocated to activities on a basis consistent with the use of the resources.

Incoming resources with related expenditure

When incoming resources have related expenditure (as with fundraising or contract income) both are reported gross in the SOFA.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values their useful lives on the following bases:

Computers – straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with bankers, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charity has elected to apply the provisions of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Issues” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

12

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020

1. Accounting Policies (continued)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price, including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market value of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

De-recognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2. Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Donations and legacies

Donations and gifts
Membership fees
Total for the year		 Unrestricted
Funds
2020
£
2,188
14,356
16,544		 Restricted
funds
2020
£
-
-

-
 Total
2020
£
2,188
14,356
16,544		 Total
2019
£
31,112
12,552
43,664

13

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020

4. Charitable activities

Sponsorship
2020
£
Sales within charitable activities
117,983
Performance related grants
-
Total for the year
117,983
Analysis by fund
Unrestricted funds
117,983
Restricted funds
-
117,983
5. Charitable activities
Depreciation and impairment
Conferences and newsletters
Share of support costs (note 6)
Share of governance costs (note 6)
Application developments costs
Analysis by fund
Unrestricted funds
Restricted funds		 Grants
2020
£
-

-
-

-

-
-
 Total
2020
£
117,983
-
117,983
117,983
-
117,983
2020
£
-
42,720
42,720
27,602
20,169
7,200
97,691
87,638
10,053
97,691		 Total
2019
£
78,620
-
78,620
78,620
-
78,620
2019
£
-
54,144
54,144
19,188
22,834
24,550
120,716
92,016
28,700
120,716

14

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020

6. Support costs

ENET membership subscriptions
Website
Management fees
Independent examiner and
accountancy fees
Other operating costs
Committee meetings
Analysed between
Charitable activities		 Support
costs
2020
£
7,723
3,679
16,200
-
-
-
27,602
27,602		 Governance
costs
2020
£
-
-
-
1,440
18,260

469
20,169

20,169
 Total
2020
£
7,723
3,679
16,200
1,440
18,260
469
47,771
47,771		 Total
2019
£
320
5,405
13,463
2,185
18,741
1,908
42,022
42,022

7. Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2019 - £nil).

8. Employees

There were no employees during the year. (2019 – nil).

9. Tangible fixed assets

Cost
At 1 September 2019 and 31 August 2020
Depreciation and impairment
At 1 September 2019 and 31 August 2020
Carrying amount
At 31 August 2020
At 31 August 2019
Charitable activities		 Computers
£
10,420
10,420
-
-

15

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020

10. Financial instruments

Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying value of financial liabilities
Measured on amortised costs
11. Debtors
Amounts falling due within one year
Other debtors
Prepayments and accrued income
12. Creditors: amounts falling due within one year
Deferred income
Accruals
13. Other deferred income
Other deferred income		 2020
£
-
-
2020
£
10,000
3,599
13,599
2020
£
2,312
9,532
11,844
2020
£
2,312		 2019
£
-
-
2019
£
30,417
-
30,417
2019
£
2,312
13,215
15,527
2019
£
2,312

16

UK AND IRELAND NEUROENDOCRINE TUMOUR SOCIETY LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020

14. Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Grants
TransNET
Mobile app development		 Balance at 1
September
2019
£
14,003
4,925
25,450
44,378		 Movement
in funds
Incoming
resources
£
-
-
-
-		 Resources
expended
£
(2,853)
-
(7,200)
(10,053)		 Balance
at 31
August
2020
£
11,150
4,925
18,250
34,325

15. Analysis of net assets between funds

Fund balances at 31 August 2020 and 31 August 2019 are represented by current assets/(liabilities.

16. Related party transaction

There were no disclosable related party transactions during the year (2019 – none).

17