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2022-12-31-accounts

Annual Report and Financial Statements 31 December 2022

Charity Registration Number 1149074 Company Limited by Guarantee Registration Number 08124892 (England & Wales)

CONTENTS

Reports

Financial statements

The British Society of Gastroenterology | Annual Report

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Reference and administrative details of the Society, its Trustees and advisers

Ms M Azdejkovic

Trustees

Mr T Budd

Prof J Dillon

Ms J Flitcroft

Dr H Gordon (resigned 23 June 2022) Mr T Jones

Mr R P Lanyon

Mrs R Lloyd

Dr M Lockett (resigned 23 June 2022) Dr A McKinlay (resigned 23 June 2022) Dr J Morris (appointed 23 June 2022) Dr B Oates

Dr I Penman (resigned 23 June 2022) Prof C Rees (appointed 23 June 2022) Dr L Scovell (appointed 23 June 2022) Prof A Stanley

Prof D Tripathi (appointed 23 June 2022) Prof A Veitch

Chief Executive

Registered/Principal office Telephone E-mail website Charity registration number Company registration number Auditor

Solicitors

Bankers

Investment managers

Mr M Hacker (resigned 31 October 2022) Mrs S Linnington (appointed 30 March 2023) 3 St Andrews Place, Regent’s Park, London, NW1 4LB 020 7935 3150

enquiries@bsg.org.uk

www.bsg.org.uk

1149074

08124892 (England and Wales)

Haysmacintyre LLP 10 Queen Street Place, London, EC4R 1AG

Druces LLP, Salisbury House, London Wall, London, EC2M 5PS

National Westminster Bank Plc, PO Box 2021, 10 Marylebone High Street, London, W1A 2AS

CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET

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Report from the BSG Trustees

The Trustees are pleased to present the annual report alongside the financial statements of the British Society of Gastroenterology (the ‘Society’ or ‘BSG’) and its subsidiary company, BSG Limited (together the ‘Group’ or ‘consolidated’) for the year ended 31 December 2022.

Governance, structure and management

This report has been prepared in accordance with Part 8 of the Charities Act 2011 and constitutes a director’s report for the purposes of company legislation.

The British Society of Gastroenterology is a charitable company limited by guarantee (Company Number 08124892 (England and Wales), Charity Number 1149074). The Memorandum and Articles of Association is BSG’s governing document.

The financial statements have been prepared in accordance with the accounting policies set out on pages 35 to 37 of the attached financial statements and comply with the charitable company’s Memorandum and Articles of Association, applicable laws and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (second edition).

The charity controls the subsidiary entity, BSG Limited (Company Number 3021266) (England and Wales).

The purpose of the British Society of Gastroenterology is the promotion of good health through high standards of patient care, clinical service provision, research and education in gastrointestinal and liver disease in the United Kingdom and internationally.

Charitable Objects

The Society primarily pursues its charitable objects by giving support to its members in their professional capacities. Its purpose is achieved through a series of work streams related to its charitable objects of research, education and training, clinical standards and membership support.

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Research

Education and Training

The BSG promotes the discovery and dissemination of scientific knowledge by supporting its membership to participate in clinical and basic research; encouraging clinicians to undertake research; defining research priorities for investigation, working with other national stakeholders and by the publication of research in our scientific journals (GUT, Frontline Gastroenterology and BMJ Open Gastro).

The BSG is responsible for the implementation of programmes of training for the specialty workforce working alongside the Royal College of Physicians. Additionally, it promotes high quality educational opportunities through its own annual meeting and the endorsement of symposia, meetings and other digital educational materials through the BSG website. It co-owns scientific journals working in partnership with the BMJ.

The BSG also owns in partnership with the Federation of Royal Colleges the rights to the Specialty Examination in Gastroenterology (European Specialty Examination in Gastroenterology and Hepatology or ESEGH).

Clinical Standards

The Society develops and disseminates guidelines of best clinical practice in gastroenterology and hepatology and encourages methods of peer review and audit of clinical practice. It provides technical guidance on specialist areas of practice.

Membership Benefit and Workforce

Providing support to the professional community, the BSG connects members through an active professional network, the dissemination of relevant specialty information and supports lifelong professional learning.

EQUALITY AND INCLUSION:

“The British Society of Gastroenterology (BSG) believes that equity of opportunity is of fundamental importance for everyone involved in our organisation. We welcome and actively seek to recruit individuals to our activities regardless of race, religion, ethnic origin, disability, age, gender, sexual orientation or working pattern. The BSG aims to encourage diversity of membership in all committees, senior roles and staff.”

The BSG not only seeks to promote equal opportunities for all its members but also actively tries to encourage members who might not immediately see themselves as potential contributors to the Society’s work, to take on roles.

ED&I is at the heart of the organisation’s plans and activities. We recognise that there are inequalities in representation and opportunity within gastroenterology and are committed to addressing these both inside and, where possible, outside the organisation.

The President is leading a diverse multidisciplinary working group to build on previous work, and to develop a comprehensive ED&I strategy for BSG. This strategy will be class-leading among professional medical organisations, including key performance indicators and timelines which will be performance managed at Executive level and reported at Board level. This strategy is due for launch in time for the June 2023 annual meeting.

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MEMBERSHIP

In December 2022 the numbers in different membership categories were as follows:

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2022 NO. 2021 NO.
Honorary 98 96
Full 1,614 1,579
International 104 87
Trainee 692 794
Senior 89 91
Associate 882 782
Taster 537 465
Undergraduate 11 -
4,027 3,894
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In October 2022 the BSG launched an undergraduate membership programme giving students the opportunity to join the BSG free of charge, giving them access to BSG events at discounted rates and opportunities to apply for bursaries to attend events.

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IMPACT REPORT FOR 2022 AND PLANS FOR 2023

Meeting our Charitable Objectives

The BSG has continued to deliver its charitable objectives through its key workstreams.

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ANNUAL CONFERENCE

The BSG Annual Meeting, BSG Live 2022, took place in June 2022 in Birmingham run by the new conference organisers, TFI Lodestar. With over 2,200 attendees, the event was a huge success with members enjoying being back face to face, despite train strikes and potential COVID waves.

to network and interact with speakers, virtual events, allow members who cannot travel because they are “on-call” or have other commitments, to maintain their Continuing Professional Development. Virtual events have better “carbon footprints” in line with the Society’s policy on sustainability and environmental responsibility. It is often easier for high prestige overseas speakers to attend virtually which also reduces the need for international travel. The Virtual meetings gives more choice about how, when, and where members can participate in BSG events, which is an important part of the Society’s policy on Equality, Diversity and Inclusion. The BSG, therefore, intends to continue two meetings each year for the foreseeable future, one of which will always be virtual.

In November 2022, BSG delivered an online conference, BSG Campus, with a studio in the BSG office enabling live interaction between speakers and the panels. There were over 600 registrations for this conference and feedback received indicated that BSG Campus was a good complement to, and different from, the Live meeting with hot topic live discussions, no abstracts and the opportunity to invite international speakers.

While face-to-face events offer better opportunities

Preparation for BSG Live 2023 to be held in Liverpool is well underway.

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REPORT FROM THE BSG TRUSTEES

ORGANISATIONAL GOVERNANCE

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EDUCATION AND TRAINING

Trainees Weekends and Taster meetings

The Trainees section has gone back to face-to-face events last year with the Management and Leadership Weekend in March, and the Taster Course in November. To minimise our environmental impact, we opted to keep the Education Weekend as a virtual event which was well received. This has increased accessibility to UK trainees, but also the global reach allowing low-income countries to also access educational material. We collaborated for the first time with Sheffield Teaching hospitals to deliver the Taster Weekend, and the course received excellent feedback. Our equality, diversity and inclusion officer continued to monitor our events to ensure they are as representative of the members at wide. We also ran three stand-alone endoscopy taster days at three centres nationally to cater for pre-specialty doctors who are pursuing gastroenterology as a career. The first annual research day was delivered in April of last year which we hope to organise it again this year in collaboration with the research and nursing committees. To support registrars, we are also producing new educational and endoscopy videos aimed at those in the early stages of their training. We continue to be actively involved in monitoring the impact of the Shape of Training and representing the views of trainees to the BSG.

Education Committee, Mentoring and Wellbeing Programme

The Education Committee has been busy in the last 12 months with restructuring of the web Education portal for easier navigation. The web education team has also expanded with two new enthusiastic trainee online Editors. Journal watch is one new feature which highlights the latest articles from high impact factor journals with a succinct summary.

BSG Educational videos has been launched with the first video on how to use and set up an ERBE machine. This is in addition to the masterclass video series which has one release per calendar month. The Web offering continues to augment the current articles which encompass updates on topics in gastroenterology and hepatology. These include BSG Bite size, nurse and trainee focussed articles, clinical cases and articles on liver disease, inflammatory bowel disease and sustainability and green endoscopy.

The Education Committee endorses a good breadth of high quality Educational events within the UK, providing a discounted rate to members to attend.

The mentoring programme offers members the opportunity to train and upskills as mentors or obtain mentoring from established mentors.

In 2022, in conjunction with Pharma, the BSG offered 25 bursaries to trainees, nurses and AHP to attend BSG Live and this will be increased for 2023 to provide even more opportunity for our members.

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REPORT FROM THE BSG TRUSTEES

Clinical Services and Standards Committee

Training Committee

The main focus of the Training Committee has been the preparation for, and supporting the implementation of, the 2022 curriculum for Higher Specialty Training. Although the clarification of training pathways for hepatology and luminal gastroenterology are welcome, the reduction in the training time associated with the new curriculum remains a concern for trainees. Initiatives, such as the Endoscopy Academies and similar schemes in the devolved nations, that aim to offer some mitigation for this, are now operational in many regions. In collaboration with the Specialist Advisory Committee and the Trainees’ Section, the Training Committee will be proactive in monitoring the progression of trainees.

The CSSC strategy incorporating regional networking, and engagement, guidelines and quality improvement was approved in early 2022. The Climate Change and Sustainability and Workforce workstreams also report through the CSSC. Significant improvement work and service development continues across the 4 nations with many examples of adopting new practice and innovative working including development of endoscopy dashboards particularly in Northern Ireland and Mersey region.

The BSG Workforce Lead has published the annual workforce report which is available on the BSG website. The CSSC together with the BSG executive has supported setting up a Workforce Advisory Group in order to discuss how the BSG can influence workforce development across gastroenterology and develop a BSG Workforce Strategy.

The Barber’s Company prize to support a trainee to undertake additional specialist training has been awarded and a further round is planned for next year.

The National Introduction Day was again hosted by the RCP with excellent attendance and speakers.

Guidelines and guidance continue to be developed at pace and the process is being refined. The committee are looking to enhance training for guideline committee members, and ensure ED&I, climate change and sustainability and potential new components of the quality standards framework are all considered during guideline development. Going forward there are plans to introduce more simple English version and pilot the translation of guidelines into foreign languages.

Quality Improvement work has progressed from prepilot, with refinement of the standards and following feedback to full pilot phase with 17 units taking part from across the four nations.

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Research

BSG research committee has progressed on all the KPIs for year 1. The BSG supported grants (research database platform support, BSG research scholars programme) has been initiated. The successful projects are expected to be initiated in collaboration with BiCOPS in Q3 of 2023. The pilot trainee multicentre project (EVOLVE) has included 90 sites across country and recruiting. The trainee and nurse research support programmes are well under way with second annual meeting in April 2022. Collaborations with NIHR is yielding results with 4 HTA commissioned calls in GI and hepatology. The NIHR associate PI scheme has exceeded the target of 40 news associate PIs. The elections to the CRGs have been concluded with new members taking on their roles within the CRGs.

Delivering support through the International Programme

The International work of the Society is led by its International Committee. The International Strategy supports delivery high quality education and training, research, and service development. A BSG ‘International Grand Round’ series is in development to support specialty training, with invited international contributors, with the aim of increasing networking opportunities and awareness of the benefits of BSG International membership. In the 2023/4 round of BSG International Grants seven project proposals have been funded. The projects span the fields of endoscopy, inflammatory bowel disease, liver, and bowel cancer screening, with a mix of training, service improvement and primary research goals. All will be aligned with existing project work within our defined Global Development Zones. Through longer-term established partnerships we are developing our capacity to use web-based support tools, within LMIC settings, to record clinical training and service-based activity. This allows a data-based approach where UK teams can provide real-time training interventions and guide service improvement. Our work on a registry of members interested in International partnership work, environmental sustainability, and highlighting international research opportunities continues, supported by the BSG Research Committee.

The 2022 European Specialty Examination in Gastroenterology and Hepatology

The 2022 European Specialty Examination in Gastroenterology and Hepatology was sat on 6 April 2022.

The 2022 examination consisted of two sessions of 3 hours. During each session candidates answered 100 best-of-five questions, which were displayed in a random order. A total of 480 candidates completed both sessions, 113 of those sitting in European centres other than the UK.

For this examination 64 questions were new i.e. they had not been pre-tested or used before and 136 items were re-used from a previous diets.

The results of the 2022 examination were equated using the performance of the 2019 UK trainees as the base form excluding from which trainees self-declared as OTH (Other) were excluded. All future exams will be equated with the same base form until the ESEGH Board decides a change in standards.

The standards of the examination and the equated pass score are reviewed every three years by the ESEGH Standard setting group. The next review meeting is planned for 2022.

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REPORT FROM THE BSG TRUSTEES

Climate Change and Sustainability

Environmental sustainability remains a key factor in the activities and aims of the organisation. We have appointed a BSG Sustainability Lead to implement and develop our Climate Change and Sustainability Strategy, and this is on track with its objectives for year 1 and beyond. Sustainability is being effectively embedded into our culture and activities. Internationally, the BSG Strategy is recognised as a leading exemplar, and has inspired and informed sustainability strategies for similar organisations throughout the world. BSG guidelines on green endoscopy are similarly influential, and sustainability has become a key component of our research strategy.

Delivering impact through medical publications

Gut - Under the continued inspirational leadership of Professor Emad El-Omar, the journal achieved its highest ever impact factor in 2022 (31.795). It is acknowledged as one of the most highly ranked specialist journals in the world, and retains a leading position in the SJR gastroenterology & hepatology category (4/93) with an outstanding Citescore of 40.1. This was another outstanding year of achievement. Gut is a Plan S compliant Transformative Journal.

SUMMARY

BSG is currently in a strong position, with a stable administrative leadership, sound financial position, and the highest level of membership in its history. For the first time, we have welcomed undergraduates into the Society, and we are actively welcoming new members of the NHS workforce such as Physician Associates. The wellbeing of our members, representing various disciplines, and facing great challenges in the workplace, is of paramount importance to us. Support, advocacy, and innovation in working practices will form a basis for our Workforce Strategy in development.

Frontline Gastroenterology

(FG) - The journal increased in frequency from quarterly to bimonthly publication in 2020 in line with Editor-in-Chief Professor Mark Beattie’s vision for the expansion of the journal and inclusion of a wider variety of content. FG

has affiliated with BAPEN and BSPGHAN, helping to strengthen its presence in clinical nutrition and paediatrics. There is a long-term focus on social media, with regular podcasts being produced. Throughout the year FG has published on COVID and its clinical impact. Frontline Gastroenterology has continued to evolve as a major publisher of predominantly clinically based research and advice.

BMJ Open Gastroenterology (BMJOG) - Under the leadership of Editor-in-Chief Prof Mark Beattie, BMJOG has seen a continued growth in submissions. The journal continues to consolidate its position in terms of open access publications.

Having been indexed in Web of Science’s Emerging Sources Citation Index for several years, both FG and BMJOG will be receiving their first official impact factors in June of this year.

A class-leading outcome-based ED&I Strategy is near completion, and will further support our members within the organisation, and within the NHS more generally. Our strategy on sustainability in gastroenterology is an exemplar globally, and BSG members are working collaboratively with partners around the world to raise awareness, and to reduce the carbon footprint of gastroenterology, hepatology and endoscopy.

BSG higher committees and sections continue to produce excellent work to deliver the BSG Strategy, and to educate and innovate for the benefit of our patients.

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STRUCTURE OF THE CHARITY

TRUSTEES

Ms Marina Azdejkovic

Independent Lay Trustee

The business of the Charity is managed by the Board of Trustees subject to the provisions of the Companies Act and the Society’s Articles. The Board of Trustees consists of six independent Trustees, two elected members of Council and five Society officers. One of those officers, the BSG President chairs the Board. The Trustees who served in the year are detailed below

Marina has worked for a number of international organisations in finance roles. She is currently working in London for the Standard Chartered Bank as a Director, Operations and Governance for a Sustainability function. She is also responsible for looking after governance and finance of the Standard Chartered Foundation which she helped set up in 2019.

Mr Thomas Budd

Prof Andrew Veitch

Independent Lay Trustee

BSG President

After qualifying as a solicitor, Tom studied for a postgraduate law degree at the University of Cambridge before joining Slaughter and May and two subsequent law firms. He was until recently a partner in the London office of an international law firm, Gibson, Dunn & Crutcher, where he served as co-chair of the firm’s Global Finance practice group. Tom is also an honorary legal adviser to the Order of St John and a trustee of Foothold (The Institution of Engineering and Technology Benevolent Fund).

Andy Veitch is a Consultant Gastroenterologist at The Royal Wolverhampton NHS Trust with interests in advanced endoscopy, endoscopy training, endoscopy research and guidelines. In Wolverhampton, he set up the first centre in the national bowel cancer screening programme in England and has had a national leading role in the programme. He is currently leading on quality improvement in endoscopy services for the European Society of Gastrointestinal Endoscopy, and he has a global role as a member (former Chair) of the endoscopy committee of the World Gastroenterology Organisation.

Prof John Dillon

BSG Vice President Hepatology

John Dillon is Professor of Hepatology and Gastroenterology and a principle investigator, in the Division of Molecular and Clinical Medicine, School of Medicine, University of Dundee. He is also a Consultant Gastroenterologist and Hepatologist with NHS Tayside, delivering a busy general hepatology service and a research group. His award winning research interests included; new pathways of care for patients with abnormal LFTs, for people infected with HCV, new therapies for HCV infection, as well as novel diagnostics and treatments for NAFLD. He has published over 200 peer reviewed original research papers. He chairs the Scottish HCV Action Plan Clinical Leads Group.

Prof Colin Rees

BSG President-Elect

Colin Rees is Professor of Gastroenterology at Newcastle University and an Honorary Consultant at South Tyneside and Sunderland NHS Trust. He is a National Institute for Health Research Senior Investigator and his research interests include endoscopy and colorectal cancer (CRC) screening, prevention and early diagnosis. He has led many large endoscopy studies recruiting around 15000 patients and believes the UK should be a world leader in endoscopy and CRC research. Colin was BSG Vice President from 2015-17 and established the BSG Endoscopy Quality Improvement Programme (EQIP). He has a strong interest in patient reported experience measures and led development of the Newcastle ENDOPREM.

Ms Joanne Flitcroft

Independent Lay Trustee

Joanne is a qualified solicitor and having trained in London, has spent almost 20 years as an in-house lawyer before setting up her own company Opallios in 2016. Joanne provides consultancy advice to companies in the life sciences sector and in particular advice on issues concerned with pharmacovigilance, compliance and risk management.

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REPORT FROM THE BSG TRUSTEES

Mr Trevor Jones

Independent Lay Trustee

Following ten years as an academic social researcher, Trevor moved into the private sector in the mid-1980s, having developed an interest in statistical analysis and the commercial use of census and other large official data sets. He had a 35-year career running a number of marketing services companies, latterly focussing on ‘big data’ analytics. He has previously been a Trustee at the Woodland Trust and Cats Protection and will shortly step down after two terms as Lay Trustee at the British Society for Haematology. Last year he was appointed as a Lay Member of Council at the Royal College of Radiologists.

Mr Richard Lanyon

Independent Lay Trustee

Richard spent his entire career in investment management, initially at the stockbrokers Laurence Prust followed by Framlington where he was the Director in charge of Pension Management. In 1992 he joined Rathbones where he was Head of Investment Management for 10 years. He has now retired and able to devote more time to charitable activities.

Mrs Rosemary Lloyd

Independent Lay Trustee

Rosemary has extensive experience in Human Resources in the Retail, Consultancy and Financial sectors, with experience in a full range of HR activities including recruitment, training, reward, benefits and employee relations. In her most recent role as HR Director, she led a team of 20.

Dr John Morris

BSG Vice President Endoscopy

John Morris is a Consultant Gastroenterologist at Glasgow Royal Infirmary, Honorary Clinical Senior Lecturer at Glasgow University Medical School and Clinical Lead for Gastroenterology for Greater Glasgow and Clyde health board. He is Director of the West of Scotland Endoscopy Training Centre and has an international reputation for education and quality in delivery of all types of gastrointestinal endoscopy. He was visiting Associate Professor at the Medical University of South Carolina in 1995, developing advanced endoscopy practice. He has written several original papers, reviewed articles and contributed to national guideline development in the field of GI endoscopy.

Dr Louise Scovell

BSG Elected Councillor

Louise Scovell is a Consultant Gastroenterologist at the Ipswich Site ESNEFT. She is clinical site lead for gastroenterology, UGI cancer and nutrition. She has a specific interest in education.

Dr Beverly Oates

BSG Treasurer

Bev Oates qualified from Birmingham University in 1993 and undertook her Specialist Registrar training in Mersey Region, including completing a Doctorate of Medicine at Liverpool University. She has been a Consultant Physician & Gastroenterologist at Wirral University Teaching Hospital since 2003 and has been Clinical Service Lead for Gastro and Endoscopy at WUTH. Bev was Training Programme Director for Gastro in Mersey for 11 years and National Recruitment Lead for Gastro for 10 years. Bev is passionate about high quality patient care and became the National Clinical Lead for Gastro on the Getting it Right First Time (GIRFT) programme in 2017. She has been a trustee at Wirral Hospice for 9 years and Deputy Chair of the board of trustees there for 6 years.

Prof Adrian Stanley

BSG Senior Secretary

Adrian Stanley was appointed Consultant Gastroenterologist at Glasgow Royal Infirmary in 1999 and Honorary Professor at the University of Glasgow in 2018. Prof Stanley has active research interests and has published over 140 peer-reviewed papers spanning endoscopy and hepatology. He has co-authored four national and international guidelines and has advised SMC and NICE. Prof Stanley has been an invited speaker and performed live endoscopy at numerous national and international meetings. He is Director of the annual Royal College of Physicians and Surgeons of Glasgow Glasgow-Gastro Conference. He was appointed Vice President (Medical) of the Royal College of Physicians and Surgeons of Glasgow in December 2019.

Prof Dhiraj Tripathi

BSG Elected Councillor

Dhiraj Tripathi is a Consultant Hepatologist at University Hospitals Birmingham. He has particular interests in liver transplantation, portal hypertension and vascular liver disease. He is lead author of the BSG guidelines on variceal bleeding in cirrhosis and TIPSS in the management of portal hypertension, and is actively involved in two further BSG guidelines in development. He is an elected member of the BSG Council and member of The Board of Trustees. Other committee roles include member of NICE Interventional Procedures Advisory Committee and Regional Councillor for RCPSG. He is a number of active national and international collaborations related to cirrhosis and its complications and vascular liver diseases. He is Chief Investigator of national clinical trials on portal hypertension. He has over 80 publications in peer review journals and book chapters.

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No Trustee received any remuneration for services as a member of the Council.

Thirteen Trustees were reimbursed expenses totalling £9,684 (2021 – Twelve Trustees received expenses totalling £4,746). All expenses were incurred on Society business. No Trustee had any beneficial interest in any contract with the Society whilst serving on the Board.

New Trustees receive an induction pack. This includes the BSG’s Memorandum and Articles, last audited annual report and financial statements, Charity Commission guidance on the responsibilities of charity Trustees, and a copy of the Good Trustee Guide, published by the National Council of Voluntary Organisations, for their reference. Trustees are also required to attend training sessions on various topics relevant to Trustees’ duties and responsibilities.

The Trustees met twice face to face, and twice remotely in 2022.

THE BSG EXECUTIVE

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MEMBERS OF THE EXECUTIVE
Prof A Veitch (President 2022-2024)
Prof C Rees (President-elect 2022-2024)
Dr J Morris (Vice-President Endoscopy 2022-2024)
Prof J Dillon (Vice President Hepatology 2021-2023)
Dr B Oates (Treasurer 2021-2024)
Prof A Stanley (Senior Secretary 2021-2023)
Prof H Steed (Secretary 2021-2023)
Dr B Brett (Chair, CSSC 2022-2024)
Prof R Sidhu (Chair, Education Committee 2021-2023)
Prof S Sebastian (Chair, Research Committee 2021-2024)
Dr M Cowan (Chair, Training Committee 2021-2023)
Dr N Hawkes (Chair, International Committee 2019-2023)
Mrs S Linnington (Acting COO)
----- End of picture text -----

All members of this board are appointed by open competitive interview, chaired by a lay member of the Board of Trustees and hold delegated authority from the Trustees. This is the Society’s operational board.

The BSG President serves two years, having previously served two years as President Elect. The Current President, Prof Andrew Veitch will serve to June 2024, when he will be succeeded by the current President-Elect Prof Colin Rees. The Vice President (Endoscopy) and the Vice President (Hepatology) currently serve for two years. The Secretaries of the Society serve for two years as Secretary and two years as Senior Secretary. The Treasurer serves for two years with the option to extend for a further year and the Chairs of the Education, Research, Training, CSSC and International Committees currently serve for two years.

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REPORT FROM THE BSG TRUSTEES

THE COUNCIL

The professional activities of the Society are overseen by a Council with delegated authority from the Trustee Board. The Council has particular responsibility to advise the Trustee Board on all matters pertaining to professional practice and the reputation of the Society. All members of the Executive are voting members of Council.

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MEMBERS OF THE COUNCIL
Prof A Veitch (President 2022-2024)
Prof C Rees (President-elect 2022-2024)
Dr J Morris (Vice-President Endoscopy 2022-2024)
Prof J Dillon (Vice President Hepatology 2021-2023)
Dr B Oates (Treasurer 2021-2024)
Prof A Stanley (Senior Secretary 2021-2023)
Prof H Steed (Secretary 2021-2023)
Dr B Brett (Chair, CSSC 2022-2024)
Prof R Sidhu (Chair, Education Committee 2021-2023)
Prof S Sebastian (Chair, Research Committee 2021-2024)
Dr N Hawkes (Chair, International Committee 2019-2023)
Dr M Cowan (Chair, Training Committee 2021-2023)
Dr P Phull (Guidelines Lead, CSSC, 2022-2024)
Dr N Michell (Secretary, QI Lead, CSSC, 2022-2024)
Dr M Nayar (Elected member 2022-2025)
Dr D Gaya (Elected member 2022-2025)
Dr U Basavaraju (Elected member 2022-2025)
Prof A Dhar (Elected member 2022-2023)
Prof M Brookes (Elected member 2020-2023)
Dr P Smith (Elected member 2020-2023)
Dr L Scovell (Elected member 2020-2023)
Prof D Tripathi (Elected member 2021-2024)
Dr Y Haddadin (Chair, Trainee Section 2022-2023)
Ms L Scarisbrick (BSG Nurses Association 2022-2025)
Dr S Samji (Workforce Lead 2022-2025)
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THE COUNCIL (CONTINUED)

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OBSERVER MEMBERS
Prof E El-Omar (Editor, GUT)
Prof M Beattie (Editor, Frontline Gastroenterology)
Prof J Mclaughlin (Chair, Guts UK)
Mr C Maxwell-Armstrong (ACPGBI)
Mr B Kumar (AUGIS)
Dr T Smith (BAPEN)
Dr R Jones (BASL)
Dr K Lindley (BSPGHAN)
Dr M Sloan (PCSG)
Prof A Hart (PSGBI)
Dr I Gee (Chair, SAC)
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The business of Council is informed by five higher committees and their sub-committees.

The Society is represented at regional level by regional leads within the CSSC. Separately there are sections for the academic and professional advancement of particular specialist interests. These sections are: Endoscopy, Gastroduodenal, Inflammatory Bowel Disease, Liver, Neurogastroenterology/Motility, Oesophageal, Adolescent & Young Persons, Pancreatic, Pathology, Radiology, Small Bowel/Nutrition, Colorectal, Trainees, Nurses Association, Gastrointestinal Physiology Associates and a new section SWiG (Supporting Women in Gastroenterology). Section Chairs sit on the CSSC and are represented on the Education (and Programme) Committee and Research Committee.

The Organisation

The Society is administered from an office in London, staffed by eleven FTE employees. The Society also maintains a number of contracts for specialist professional services, including HR, accountancy and web development. The staff support the Executive (operational Board) formed of key portfolio leads and the Senior Officers of the BSG Trustees, the activities of the Council and the key committees.

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REPORT FROM THE BSG TRUSTEES

Operational Staff

In October 2022 the CEO resigned from the BSG and this position has temporarily been filled by an Acting COO already employed by the BSG, who was subsequently appointed as CEO from April 2023. Within the BSG Office, the key appointments in 2022 have been a new Head of Committee Services, and another appointment to strengthen the Committee Services team. In addition, consultants are contracted to fulfil specific needs or workstreams. Remuneration for key management personnel is set by benchmarking exercises, which are carried out by external HR Consultants. Annual performance reviews are carried out by employees’ line managers, or in the case of the Chief Executive, by the President. Ultimate responsibility for all staff (delegated authority from the Trustees) lies with the President.

Fundraising

The charity does not actively solicit donations and therefore is not registered with the Fundraising Regulator and does not subscribe to any fundraising codes of practice. On occasion, when donations from individuals are received, the charity aims to protect personal data and never sells data or swaps data with other organisations. During 2021, the charity received no complaints about fundraising activities.

Risk management

The Trustees of the Society have overall responsibility for risk management within the Society.

Key Risks and Mitigation

A review the Society’s formal risk register is a standing item at every meeting of Board of Trustees, which implements mitigations as and when required. The Risk Register is maintained by the operational team under the leadership of the CEO. The CEO holds overall responsibility for the oversight and maintenance of the risk register.

Financial

A Finance and Investment Committee (FIC), consisting of the BSG Treasurer, two of the Society’s independent Trustees, the President, President-Elect, and the Chief Executive reviews the financial activities of the Society, including investment decisions, to mitigate the risk of loss of income and reports directly to the Trustee Board.

Failure of Annual Meeting

The Annual Meeting is the main event in the BSG’s calendar. As well as being a major source of revenue, it is key to

maintaining and enhancing the reputation of the Society. The risk to the Society should the meeting be cancelled, go ahead without an optimal programme or fail to attract sufficient numbers or sponsorship, is therefore substantial but had never occurred prior to 2020.

The Society has prepared for such an eventuality by assiduous planning, led by its senior executive officers, and careful project management through its professional conference organisers. In addition, the BSG has, as part of its free reserves, £1,000,000 designated to cover expenses in the event of a meeting failing to take place, or having to be curtailed.

Potential for a reduction in the annual publishing revenues

The Society relies on its publishing partnership with the BMJ for a significant percentage of its income. However, the nature of the publishing landscape is changing and an initiative called ‘Plan S’ is likely to have a material impact on this revenue stream in the future. Plan S is an initiative for open-access science publishing launched in 2018 by a consortium of national research agencies and funders from twelve European countries. The plan requires scientists and researchers who benefit from state-funded research organisations and institutions to publish their work in open repositories or in journals that are available to all by 2021.

The Society has continued to work closely with BMJ publications. After discussion, it was agreed to make GUT and Frontline Gastroenterology hybrid journals, designating them as being “in transition” allowing them to continue to publish all types of material. The future of Plan S is still not clear and the situation is complicated by other long term trends in publishing, such as a move away from paper to electronic copies. Some reduction in income seems probable over the coming five years but the Society is aware and taking measures to minimise the impact. Meanwhile, income from BMJ has reduced in 2022, partly due to higher costs of production in association with global events.

Risk Mitigation, Guidelines, and Professional Advice

The Society never gives advice to individual members of the public. All its advice is generic. The Society publishes Guidelines and Professional advice. There is a risk that a company or individuals might disagree with the findings and attempt to contest them.Guidelines are developed by working groups of professionals usually including lay members of the public, using strict evidence-based criteria based on literature searches and the grading of evidence. The BSG is accredited by NICE, and its advice is generally subject to external review and published in peer reviewed journals. The risk is judged to be small, but the Society is seeking professional advice as to how it can indemnify itself in the future.

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19

FINANCIAL REPORT FOR THE YEAR

Results for the year

involved in drug development is desirable, all such investments should be held at “arms length” (i.e. in funds). Details of the Society’s investments are set out in note 12 to the financial statements.

The consolidated statement of financial activities is shown on page 27 of the annual report and financial statements.

The Trustees consider the fund to have performed adequately during 2022 within the context of the economic environment but reserve the right to review and tender for alternative providers as part of an active approach to investment oversight. There is an ambition to look again at both the ethical and sustainability aspects of the portfolio.

~~Income for the year was £3,302,054~~ ~~(2021 restated - £2,247,369)~~

The increased income in 2022 is as a result of the annual conference having taken place in person for the first time since the COVID-19 pandemic.

Reserves and going concern assessment

~~The Society incurred expenditure of £3,223,223~~ ~~(2021 - £1,923,825)~~

The Trustees continue to actively address the issue of reserves in the context of future plans and requirements of the Society. The cash needs of the Society are well within the assets it holds and the income it generates.

The increased cost in 2022 relates to the direct costs of events, including the annual conference, having taken place in person.

The objective is to maintain sufficient funds to support the key activities of the Society for one calendar year. This includes the annual meeting, requiring approximately £1,000,000, 12 months’ staff costs approximating £650,000, and funds sufficient to discharge essential operating expenses estimated at £250,000, giving a total minimum required free reserve of approximately £1,900,000. The general funds, or free reserves, of the group at the year end were £2,017,919 (2021 – £2,144,962) and this is broadly in line with the target set out above. The level of free reserves is regularly reviewed by Trustees.

The results for the year show an overall decrease in funds of £880,169 (2021 restated – increase of £1,149,369). This includes unrealised losses on investments of £959,000 (2021 – unrealised gains of £825,825) (see note 12). Net income before investment gains and losses for the year was £78,831 (2021 restated – net income of £323,544).

The profit within BSG Limited amounted to £120,331 (2021 – profit of £183,986).

Total funds of the charity at the year end were £7,802,633 (2021 - £8,635,663). This included restricted funds of £120,697 (2021 - £132,655) and designated funds at the year end totalled £5,664,017 (2021 - £6,358,046). Details of the designated funds are given in note 15 to the financial statements.

Investment policy and performance

In May 2020, after a retender process, the Finance & Investment Committee awarded the management of the Society’s investment portfolio to CCLA. The Society’s investment strategy is medium risk and aimed at protecting the funds from depreciation in the short to medium term. The policy takes account of ethical considerations such as restrictions on tobacco and alcohol-related investment. In addition, the Trustees agreed that whilst supporting companies

There is a reasonable expectation that BSG has adequate resources to continue in operational existence for the foreseeable future. The Trustees believe that there are no material uncertainties that call into doubt the Group and the Charity’s ability to continue operating as a going concern. In

The British Society of Gastroenterology | Annual Report

20

REPORT FROM THE BSG TRUSTEES

making this decision, the Trustees have also taken into consideration the risks and uncertainties arising from the COVID-19 pandemic and conclude that the Group and the Charity can sustain their operations for a period of at least twelve months from date of signing these financial statements. Consequently, the financial statements have therefore been prepared on the basis that the Group and the Charity remain a going concern.

Statement of Trustees’ responsibilities

The Trustees (who are also directors of the British Society of Gastroenterology for the purposes of company law) are responsible for preparing the Trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the group for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Each of the Trustees confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

Approved by the Trustees and signed on their behalf by:

Chair of the BSG Board of Trustees

Approved by the Trustees on: 18 June 2023

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21

Independent auditor’s report to the members of British Society of Gastroenterology

The British Society of Gastroenterology | Annual Report

Opinion

We have audited the financial statements of British Society of Gastroenterology (the ‘charitable parent company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2021, which the comprise the group statement of financial activities, the group and charitable parent company balance sheets and statements of cash flows, the principal accounting policies and notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees for the financial statements

As explained more fully in the Trustees’ responsibilities statement set out on pages 21 and 22, the trustees, who are also the directors of the charitable parent company for the purposes of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the group’s and the charitable parent company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the charitable parent company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to company and charity law and GDPR regulations, and we considered the extent to which non-compliance might have a material effect on the

The British Society of Gastroenterology | Annual Report

24

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRITISH SOCIETY OF GASTROENTEROLOGY

Use of our report

financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and the Charities Act 2011 and consider other factors such as payroll taxes.

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to improper recognition of revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:

Vikram Sandhu (Senior Statutory Auditor)

For and on behalf of Haysmacintyre LLP, Statutory Auditor, 10 Queen Street Place, London, EC4R 1AG Approved on: 30 June 2023

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc. org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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25

Consolidated statement of financial activities (Year to 31 December 2022) Incorprating income and expenditure

The British Society of Gastroenterology | Annual Report

Notes Unrestricted
£		 Restricted
£		 2022
Total funds
£		 Unrestricted
(Restated)
£		 Restricted
£		 2021 -
Restated
Total funds
£
Income
Donations and legacies
. Membership subscription
1
Donations
Government grants
. CJRS grant
Investment income
2
Other
Charitable activities
3
. Education and training
. GI research
. Service standards
Total income
Expenditure
Cost of raising funds
4
Cost of charitable activities
5
. Education and training
. GI research
. Service standards
. International
Total expenditure
Net income before gains (losses) on
investments
8
Gains (losses) on investments
12
Realised losses on investments
Unrealised gains on investments
Net income and net movement in
funds for the year
Reconciliation of funds
Fund balances brought forward at 1
January (as previously stated)
Prior year adjustments
Fund balances brought forward at 1
January (as restated)
Fund balances carried forward at 31
December		 538,766
-
-
214,366
58,924
1,634,817
758,791
-		 -
84,000
-
-
-
12,390
-
-		 538,766
84,000
-
214,366
58,924
1,647,207
758,791
-		 520,612
123
4,513
187,817
51,935
554,082
857,549
—		 —
828
—
—
—
66,230
—
3,680		 520,612
951
4,513
187,817
51,935
620,312
857,549
3,680
3,205,664 96,390 3,302,054 2,176,631 70,738 2,247,369
78,520
2,044,647
612,800
277,983
100,925		 -
108,348
-
-
-		 78,520
2,152,995
612,800
277,983
100,925		 48,629
954,643
579,595
286,379
44,867		 —
9,712
—
—
—		 48,629
964,355
579,595
286,379
44,867
3,114,875 108,348 3,223,223 1,914,113 9,712 1,923,825
90,789
-
(959,000)		 (11,958)
-
-		 78,831
-
(959,000)		 262,518
—
825,825		 61,026
—
—		 323,544
—
825,825
(959,000) - (959,000) 825,825 — 825,825
(868,211)
8,550,147		 (11,958)
132,655		 (880,169)
8,682,802		 1,088,343
7,415,110		 61,026
71,629		 1,149,369
7,486,739
47,139 - 47,139 47,139 - 47,139
8,550,147 132,655 8,682,802 7,461,804 71,629 7,533,433
7,681,936 120,697 7,802,633 8,550,147 132,655 8,682,802

All of the charity’s activities derived from continuing operations during the above financial year. All recognised gains or losses are included in the above statement of financial activities. A comparative statement of financial activities for the previous year is included in the notes to the financial statements.

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27

Balance Sheets (31 December 2022)

The British Society of Gastroenterology | Annual Report

Notes Group Group Charity Charity
2022
£		 2021
(Restated)
£		 2022
£		 2021
(Restated)
£
Fixed assets
Intangible assets
11
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due
within one year
14
Net current assets
Total net assets
The funds of the charity:
Unrestricted funds:
. General funds
. Designated funds
15
Restricted funds
16
17		 25,352
44,958
6,799,809		 40,580
56,235
6,958,809		 25,352
44,958
6,799,810		 40,580
56,235
6,958,810
6,870,119 7,055,624 6,870,120 7,055,625
485,792
810,744		 899,794
1,046,177		 715,515
438,728		 895,397
1,003,151
1,296,536
(364,022)		 1,945,971
(318,793)		 1,154,243
(221,730)		 1,898,548
(271,371)
932,514 1,627,178 932,513 1,627,177
7,802,633 8,682,802 7,802,633 8,682,802
2,017,919
5,664,017
120,697		 2,192,101
6,358,046
132,655		 2,017,919
5,664,017
120,697		 2,192,101
6,358,046
132,655
7,802,633 8,682,802 7,802,633 8,682,802

Approved by the Trustees and signed on their behalf by:

Approved on: 18 June 2023

British Society of Gastroenterology Registered Company Number: 08124892 (England and Wales)

Chair of the BSG Board of Trustees

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29

Statement of cash flows (31 December 2022)

The British Society of Gastroenterology | Annual Report

Notes 2022
£		 2021
£
Cash fow from operating activities:
Net cash (used in) provided by operating activities
A
Cash fow from investing activities:
Dividends and interest from investments
Purchase of tangible fxed assets
Purchase of intangible fxed assets
Purchase of investments
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 January
B
Cash and cash equivalents at 31 December
B		 360,641 (391,936)
207,847
-
(3,921)
(800,000)		 187,372
(53,734)
—
—
(596,074) 133,638
(235,433)
1,046,177		 (258,298)
1,304,475
810,744 1,046,177

Notes to the statement of cash flows for the year to 31 December

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31

A Reconciliation of net movement in funds to net cash flow from operating activities

2022
£		 2021
£
Net movement in funds (as per the statement of fnancial activities)
Adjustments for:
Depreciation charge
Amortisation
(Gains) losses on investments
Dividends and interest from investments
Defcit on disposal of tangible fxed assets
Decrease in debtors
Decrease in creditors
Net cash (used in) provided by operating activities		 (880,169)
13,750
13,784
959,000
(214,366)
2,892
420,521
45,229		 1,149,369
9,363
13,784
(825,825)
(187,817)
3,896
24,497
(579,648)
360,641 (391,936)

The British Society of Gastroenterology | Annual Report

32

STATEMENT OF CASH FLOWS

B Analysis of changes in net debt

Cash at bank and in hand
Total cash and cash equivalents		 1
January
2022
£		 Movement
in year
£		 31
December
2022
£
1,046,177 (235,433) 810,744
1,046,177 (235,433) 810,744

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33

Principal accounting policies 31 December 2022

The British Society of Gastroenterology | Annual Report

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year to 31 December 2022, with comparative information for the year to 31 December 2021, and are presented in sterling and rounded to the nearest pound.

The comparatives for the year to 31 December 2021 have been restated to reflect a correction in the recognition of investment income from ‘on receipt’ to an accrued basis. This timing difference has resulted in income being recognised earlier than previously reported. The impact of this restatement is to increase both unrestricted and total reserves at 1 January 2021 by £46,694 from the amounts previously stated. Investment income for 2021 has increased £445 from the amount previously stated and debtors have increased £47,139 from the amount previously reported. Unrestricted reserves and total reserves as at 31 December 2021 are £47,139 higher than previously reported.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102) – second edition effective 2019 , the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the Trustees and management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

The full impact following the emergence of the global coronavirus pandemic is still unknown. It is therefore not currently possible to evaluate all the potential implications for the charity’s activities, beneficiaries, funders, suppliers and the wider economy. Estimates used in the accounts, particularly with respect to the value of listed investments (see note 12) are subject to a greater degree of uncertainty and volatility. As set out in these accounting policies under “going concern”, the Trustees have considered the impact of the pandemic on the charity and have concluded that although there may be some negative consequences, it is appropriate for the charity to continue to prepare its accounts on the going concern basis.

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.

The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the group and the charity to continue as a going concern. They are of the opinion that the group and the charity will have sufficient resources to meet its liabilities as they fall due. The Trustees do not have material concerns regarding the group and the charity’s ability to continue as a going concern.

With regard to the next accounting period, the year ending 31 December 2022, the most significant areas that affect the carrying value of the assets held by the charity are the level of investment return and the performance of the investment markets.

Basis of consolidation

The consolidated financial statements of the group incorporate the financial statements of the Society and the trading subsidiary it controls, BSG Limited. These have been consolidated on a line by line basis. A separate statement of financial activities and income and expenditure account are not represented for the charity itself following the exemption afforded by section 4 of the Companies Act 2006.

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35

Income recognition

Income is recognised in the period in which the group and the charity have entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Subscription income – Subscription income is accounted for in the financial period for which it is due.

Publication income - The Society has a contract with BMJ Publications for the publication of the journals, which gives 50% of any surplus on a quarterly basis to the Society. The Society also receives advertising income from the publications, via BSG Limited. All publication income is accounted for on a receivable basis.

Scientific meetings - The income arising from scientific meetings is recognised on a receivable basis.

Donations - Donations are credited to the statement of financial activities in the year in which they are received.

Investment income - Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the group and the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

purposes as described in the Trustees’ report. The costs for each activity include grants payable, other direct costs and support costs, which are apportioned on the level of activity in each area.

All expenditure is stated inclusive of irrecoverable VAT.

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprises the costs directly attributable to the governance of the charity, including audit costs and the necessary legal procedures for compliance with statutory requirements.

Support costs and governance costs are allocated between activities with the allocation based on staff time use.

Pension costs

The charity operates a defined contribution scheme on behalf of its employees. The assets are held in separately administered funds. Costs are charged to the statement of financial activities in the period to which they relate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life:

The British Society of Gastroenterology | Annual Report

36

PRINCIPAL ACCOUNTING POLICIES

Items used in the day to day running of the Society and with a cost in excess of £500 are capitalised, and are stated at cost less accumulated depreciation.

Intangible fixed assets

Amortisation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life, amortisation is charged from the date the asset comes into use:

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand represents such financial statements and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the group and the charity anticipates it will pay to settle the debt.

Fund structure

The Society has various types of funds for which it is responsible, and which require separate disclosure. These are as follows:

General funds - Funds which are expendable at the discretion of the Trustees in furtherance of the objects of the Society.

Designated funds - Funds which are set aside as part of the Society’s unrestricted funds for particular purposes in the future.

Restricted funds - Funds raised for, and their use restricted to, a specific purpose, or donations subject to donor imposed conditions.

Investments - Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

The charity does not acquire put options, derivatives or other complex financial instruments.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Financial instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:

Financial assets – other debtors are basic financial instruments and are debt instruments measured at amortised cost. Listed investments are a basic financial instrument as detailed above. Prepayments are not financial instruments.

Cash at bank – classified as a basic financial instrument and is measured at face value.

Financial liabilities – accruals and other creditors are financial instruments, and are measured at amortised cost.

Taxation

The Society is a registered charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

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Notes to the financial statements 31 December 2022

The British Society of Gastroenterology | Annual Report

1. Subscriptions

Unrestricted funds Unrestricted funds
2022
£		 2021
£
Membership subscription
Total funds		 538,766 520,612
538,766 520,612

2. Investment income

Unrestricted funds Unrestricted funds
2022
£		 2021
£
Income from listed investments
Interest receivable
Total funds		 211,985
2,381		 187,668
149
214,366 187,817

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39

3. Income from charitable activities

Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£
Education and training
. Annual Conference and
Campus
. Trainee events and
meetings
. Other education events
. Sponsorship income
. Other income
GI Research
. ‘GUT’, Frontline
Gastroenterology and
Open Gastro
journals
Service standards
. Other income
Total funds		 1,542,923
66,325
12,219
13,350
-		 -
-
-
7,500
4,890		 1,542,923
66,325
12,219
20,850
4,890		 547,319
-
-
6,763		 -
66,230
-
—		 547,319
66,230
6,763
1,634,817 12,390 1,647,207 554,082 66,230 620,312
758,791 - 758,791 857,549 — 857,549
758,791 - 758,791 857,549 — 857,549
- - - — 3,680 3,680
- - - - 3,680 3,680
2,393,608 12,390 2,405,998 1,411,631 69,910 1,481,541

4. Cost of raising funds

Unrestricted Funds Unrestricted Funds
2022
£		 2021
£
Investment manager’s fees
Staf costs (note 9)
Total funds		 —
78,520		 —
48,629
78,520 48,629

The charity now holds investments within pooled funds, as a result investment management fees are not separately identifiable.

The British Society of Gastroenterology | Annual Report

40

NOTES TO THE FINANCIAL STATEMENTS

5. Expenditure on charitable activities

Un-
restricted
funds
£		 Designated
funds
£		 Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£		 Designated
funds
£
Restricted
funds
£		 Total
funds
2021
£
-
-
-
-
21,015
-
-
24,047		 -
87,336
5,911
-
-
-
6,759
8,342		 1,294,476
87,336
62,606
39,415
21,060
166,574
16,938
464,590		 380,234
20,973
25,546
—
11,713
131,786
—
299,855		 —
—
—
9,158
—
554
—
—
—
—
—
—
—
—
84,536
—		 380,234
30,131
26,100
—
11,713
131,786
—
384,391
1,999,585 45,062 108,348 2,152,995 870,107 84,536
9,712		 964,355
243,601
109,435
2,457
3,800
9,786
-
-
54,545
5,000
-
144,257		 -
-
-
-
-
649
15,000
-
-
16,396
7,874		 -
-
-
-
-
-
-
-
-
-
-		 243,601
109,435
2,457
3,800
9,786
649
15,000
54,545
5,000
16,396
152,131		 237,258
107,034
2,067
500
—
—
—
43,091
5,000
—
98,044		 —
—
—
—
—
—
—
—
—
27,686
6,274
—
—
—
—
25,000
—
27,641
—		 237,258
107,034
2,067
500
—
27,686
6,274
43,091
5,000
25,000
125,685
572,881 39,919 - 612,800 492,994 86,601
—		 579,595

Service standards

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41

5. Expenditure on charitable activities (continued)

Direct costs
. Guidelines
. Newsletter
. Meeting and
other costs
. Membership
Development
. Staf costs (note 9)
Support costs
(note 6)
International
Direct costs
. Staf costs (note 9)
. Other costs
Grants & awards
Support costs
(note 6)
Total funds		 2,903
-
18,880
-
57,748
152,726		 37,389
-
-
-
-
8,337		 -
-
-
-
-
-		 40,292
-
18,880
-
57,748
161,063		 2,971
450
19,412
1,368
68,272
155,339		 2,823
—
—
—
(10,000)
—
1,950
—
—
—
43,794
—		 5,794
450
9,412
3,318
68,272
199,133
232,257 45,726 - 277,983 247,812 38,567
—		 286,379
25,978
-
-
68,704		 -
-
2,493
3,750		 -
-
-
-		 25,978
-
2,493
72,454		 10,561
—
—
24,031		 —
—
—
—
3,500
—
6,775
—		 10,561
—
3,500
30,806
94,682 6,243 - 100,925 34,592 10,275
—		 44,867
2,899,405 136,950 108,348 3,144,703 1,645,505 219,979
9,712		 1,875,196

The British Society of Gastroenterology | Annual Report

42

NOTES TO THE FINANCIAL STATEMENTS

6. Support costs

Education
and
training
£		 GI
research
£		 Service
standards
£		 Inter-
national
£		 2022
Total
£
Premises expenses
Administration and ofce expenses
Website
Legal and professional fees
Human Resources
Consultancy
Accountancy and bookkeeping
Staf costs
Recruitment and training
Marketing
Bank charges and foreign currency (gain)
Depreciation and disposal of assets
Sundry expenses
Irrecoverable VAT
Governance costs (note 7)
2022 Total		 44,051
56,173
18,067
27,517
10,989
14,176
14,162
178,295
17,028
21,146
2,209
16,625
2,968
24,007
17,177		 14,424
18,394
5,916
9,010
3,599
4,642
4,637
58,383
5,576
6,925
723
5,444
972
7,861
5,625		 15,271
19,474
6,264
9,539
3,810
4,914
4,909
61,811
5,904
7,331
766
5,764
1,029
8,323
5,954		 6,870
8,760
2,818
4,291
1,714
2,211
2,208
27,806
2,656
3,298
344
2,593
463
3,744
2,678		 80,616
102,801
33,065
50,357
20,112
25,943
25,916
326,295
31,164
38,700
4,042
30,426
5,432
43,935
31,434
464,590 152,131 161,063 72,454 850,238

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6. Support costs (continued)

Education
and
training
£		 GI
research
£		 Service
standards
£		 Inter-
national
£		 2021
Total
£
Premises expenses
Administration and ofce expenses
Website
Legal and professional fees
Human Resources
Consultancy
Accountancy and bookkeeping
Staf costs
Recruitment
Marketing
Bank charges and interest payable
Depreciation and disposal of assets
Sundry expenses
Irrecoverable VAT
Governance costs (note 7)
2021 Total		 84,535
45,261
13,245
16,530
11,052
22,956
13,241
127,989
6,540
3,415
1,634
14,047
3,068
2,736
18,142		 27,641
14,799
4,331
5,405
3,614
7,506
4,329
41,849
2,138
1,117
534
4,593
1,003
894
5,932		 43,794
23,447
6,862
8,563
5,726
11,893
6,859
66,304
3,388
1,770
846
7,277
1,589
1,417
9,398		 6,775
3,627
1,061
1,325
886
1,840
1,061
10,257
524
274
131
1,126
246
219
1,454		 162,745
87,134
25,499
31,823
21,278
44,195
25,490
246,399
12,590
6,576
3,145
27,043
5,906
5,266
34,926
384,391 125,685 199,133 30,806 740,015

7. Governance

7. Governance
Unrestricted funds
2022
£		 2021
£
Council meetings
Trustees’ meetings
Auditor’s remuneration
Total funds		 7,945
8,289
15,200		 16,220
4,806
13,900
31,434 34,926

None of the Trustees received remuneration from the charity in respect of their services as Trustees (2021 - none).

The British Society of Gastroenterology | Annual Report

44

NOTES TO THE FINANCIAL STATEMENTS

8. Net income before gains (losses) on investments

This is stated after charging:

2022
Total funds
£		 2021
Total funds
£
Staf costs (note 9)
Depreciation (note 11)
Loss on disposal of tangible fxed assets
Auditors’ remuneration (group basis)
. Audit fees – current year
. Non-audit fees		 735,603
27,534
2,891
15,200
-		 592,934
23,147
3,896
13,900
—

9. Staff costs, remuneration of key management and Trustees’ remuneration

remuneration
2022
Total funds
£		 2021
Total funds
£
Wages and salaries
Social security cost
Pension cost
Redundancy and severance costs
Consultancy costs		 591,331
58,641
38,728
20,000		 472,950
43,606
20,474
8,692
708,700
26,903		 545,722
47,212
735,603 592,934

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9. Staff costs, remuneration of key management and Trustees’ remuneration (continued)

Staff costs analysed by activities

Staf costs analysed by activities
2022
Total funds
£		 2021
Total funds
£
Cost of raising funds
Charitable activities
. Education and training
. GI research
. Service standards
. International
Support costs		 78,520
166,574
54,545
57,748
25,978
352,238		 48,629
131,786
43,091
68,272
10,561
290,595
735,603 592,934

The average number of employees, excluding agency and self-employed consultant staff, during the year was:

2022
No.		 2021
No.
Employees 12.6 10.3

The number of employees who earned £60,000 or more per annum (including taxable benefits but excluding employer pension contributions) during the period was as follows:

2022
No		 2021
No
—
1
—
£60,001 - £70,000
£100,001-£110,000
£120,000-£130,000		 1
-
1

Pension contributions for these employees totalled £27,783 (2021 – 9,363).

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the Trustees, the CEO and the Governance and Operations Director and the Head of Marketing. The total remuneration (including taxable benefits and employer’s pension contributions) of the key management personnel for the year was £299,890 (2021 – £241,172). No Trustee received any remuneration from the Society in their ongoing role as a Trustee. Travelling and subsistence expenses were reimbursed to thirteen Trustees amounting to a total of £9,684 (2021 – £4,746 to 12 Trustees). At the year end a balance of £nil (2021 – £nil) was owed to Trustees.

The British Society of Gastroenterology | Annual Report

46

NOTES TO THE FINANCIAL STATEMENTS

10. Net income from subsidiaries

The Society has one wholly-owned subsidiary, BSG Limited, which is incorporated in England and Wales (Company Registration Number 03021266). BSG Limited conducts scientific meetings on behalf of the Society. A summary of BSG Limited’s results is shown below:

Statement of income 2022
£		 2021
£
Turnover
Cost of sales
Gross proft
Administration
Interest receivable
Net proft (loss)
Gift Aid to BSG
Proft/(loss) for the period		 1,671,584
(1,508,918)		 700,314
(481,942)
162,666
(43,570)
1,235		 218,372
(34,408)
22
120,331
(120,331)		 183,986
(85,068)
- 98,918

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47

11. Fixed assets

Intangible fixed assets

Intangible fxed assets
Group and charity Database
& website
£
Cost
At 1 January 2022
Disposals
At 31 December 2022
Amortisation
At 1 January 2022
Charge for the year
Eliminated on disposal
At 31 December 2022
Net book values
At 31 December 2022
At 31 December 2021		 68,920
(4,125)
64,795
28,340
13,784
(2,681)
39,443
25,352
40,580
Tangible fxed assets
Group and charity
Cost
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
Eliminated on disposal
At 31 December 2022
Net book values
At 31 December 2022
At 31 December 2021		 Ofce
equipment,
fxtures and
fttings
£


Total
£
66,829
3,921
(7,088)		 218,467
53,734
(205,372)
63,662 66,829
10,594
13,750
(5,640)		 202,707
9,363
(201,476)
18,704 10,594
44,958 56,235
56,235 56,235

The British Society of Gastroenterology | Annual Report

48

NOTES TO THE FINANCIAL STATEMENTS

12. Investments

Total funds
2022
£		 Total funds
2021
£
Market value at 1 January
Additions at cost
Disposals at opening market value
Unrealised (losses)/gains
Market value at 31 December
Group
Investment in BSG Limited
Society		 6,958,809
800,000
-
(959,000)		 6,132,984
—
—
825,825
6,799,809 6,958,809
1 1
6,799,810 6,958,810

At 31 December, the Group and Society’s listed investments comprised the following:

2021
£		 2020
£
Unit funds (COIF Charity Fund)
Historical cost of investments (excluding cash held with investment managers)		 6,799,809 6,958,809
6,799,809 6,958,809
6,557,113 5,757,113

The total unrealised gains as at 31 December constitutes movements on revaluation and are as follows

2022
£		 2021
£
Unrealised gains included above:
On investments
Total unrealised gains at 31 December
Reconciliation of movements in unrealised gains
Unrealised gains at 1 January
In respect to disposals in the year
Net gains arising on revaluation arising in the year
Total unrealised gains at 31 December		 242,696 1,201,696
242,696 1,201,696
1,201,696
—		 375,871
—
1,201,696
(959,000)		 375,871
825,825
242,696 1,201,696

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13. Debtors

Group Group Charity
2022
£
2021
(Restated)
£
8,240
4,576
11,652
29,193
213,552
241,764
150,000
150,000
332,071
469,864
715,515
895,397		 Charity
2022
£
2021
(Restated)
£
8,240
4,576
11,652
29,193
213,552
241,764
150,000
150,000
332,071
469,864
715,515
895,397
2022
£		 2021
(Restated)
£		 2021
(Restated)
£
4,576
29,193
241,764
150,000
469,864
895,397
Trade debtors
VAT
Amount due from subsidiary
Loan to subsidiary
Prepayments and accrued income		 13,590
48,283
-
-
423,919		 30,376
64,052
—
—
805,366
485,792 899,794

14. Creditors: amounts falling due within one year

Group Group Charity Charity
2022
£		 2021
£		 2022
£		 2021
£
Trade creditors
Accruals and deferred income
Social security & other taxation
Other creditors		 165,684
184,216
13,042
1,080		 215,160
74,445
13,061
16,127		 155,052
53,636
13,042
-		 208,190
50,120
13,061
—
364,022 318,793 221,730 271,371

Included within the above is deferred income as set out below:

2022
£		 2021
£
Deferred income brought forward at 1 January
Additional income deferred during the year
Brought forward funds released in the year
Deferred income carried forward at 31 December		 22,500
45,907
(22,500)		 183,004
22,500
(183,004)
45,907 22,500

The British Society of Gastroenterology | Annual Report

50

NOTES TO THE FINANCIAL STATEMENTS

15. Designated funds

The income funds of the group include the following designated funds which have been set aside out of unrestricted funds by the Trustees for specific purposes:

At 1
January
2022
£		 New
designations
£		 Utilised
in year
£		 At 31
December
2022
£
1,221,077
129,934
4,000,000
242,696
70,310
Clinical Projects
Membership development
Investments
Investment unrealised gains
Tangible and intangible assets		 984,601
74,934
4,000,000
1,201,696
96,815		 343,000
55,000
-
-
3,921		 (106,524)
-
-
(959,000)
(30,426)
6,358,046 401,921 (1,095,950 ) 5,664,017
At 1
January
2021
£		 New
designations
£		 Utilised
in year
£		 At 31
December
2021
£
Clinical projects
Refurbishment of ofces
Membership development
Property
Investments
Investment unrealised gains
Tangible and intangible assets		 671,852
149,175
74,934
4,000,000
—
375,871
70,124		 370,000
(13,490)
—
—
4,000,000
825,825
53,734		 (57,251)
(135,685)
—
(4,000,000)
—
—
(27,043)		 984,601
—
74,934
—
4,000,000
1,201,696
96,815
5,341,956 5,236,069 (4,219,979) 6,358,046

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15. Designated funds (continued)

Clinical Projects

Amount have been designated for various projects including:

Refurbishment and sinking fund

A sum of money has been designated to fund the potential refurbishment of the new offices.

Membership development

This has been designated for membership development.

Property fund

A sum of money had been designated to secure alternative office accommodation for the Society, following consideration in 2021 this fund has been released since the charity is not currently seeking to move premises.

Investments

The Society considers the income from their investment portfolio to subsidise the general operations of the charity. Holding the investment portfolio helps to mitigate the risk of cyclical reductions in other income streams. The Society has determined that a minimum of £4,000,000 should be designated as an investment fund to ensure an ongoing level of supplementary income sufficient to contribute towards the cost base of the Society can be generated in perpetuity.

Investment gains

The Society has also designated the unrealised gains from investment holdings as it is not the intention to draw down on these amounts in the short term.

Tangible and intangible assets

This fund represents the net book value of the tangible and intangible assets of the Society.

The British Society of Gastroenterology | Annual Report

52

NOTES TO THE FINANCIAL STATEMENTS

16. Restricted funds

At 1
January
2022
£
3,540
828
2,603
-
-
2,850
1,300
13,721
3,627
99,547
957
3,682
132,655
At 1
January 2021
£		 Income
£		 Expenditure
and transfers
£		 At 31
December
2022
£
Endoscopy - Paul Brown travel fund
Presidents travel fund
Pathologists Group fund
Barretts Oesophagus Registry
Galapagos Travel Bursary
Section funds
. Oesophageal Section
. IBD Section
. Clinical Measurement
. NGM
. Trainees in Gastro
. SWiG
Other		 -
-
-
84,000
7,500
-
-
4,890
-
-
-
-		 -
-
-
(1,921)
(4,024)
-
-
(2,856)
-
(99,547)
-
-		 3,540
828
2,603
82,079
3,476
2,850
1,300
15,755
3,627
-
957
3,682
96,390 (108,348) 120,697
Income
£		 Expenditure
and transfers
£		 At 31
December
2021
£
Endoscopy - Paul Brown travel fund
Presidents travel fund
Pathologists Group fund
Section funds
. Oesophageal Section
. IBD Section
. Clinical Measurement
. NGM
. Trainees in Gastro
. SWiG
Other		 3,540
—
2,603
2,850
1,300
10,176
3,627
42,894
957
3,682		 —
828
—
—
—
3,680
—
66,230
—
—		 —
—
—
—
—
(135)
—
(9,577)
—
—		 3,540
828
2,603
2,850
1,300
13,721
3,627
99,547
957
3,682
71,629 70,738 (9,712) 132,655

Restricted funds are as follows:

The Paul Brown travel fund represents a donation received from Keymed for small travel grants to UK doctors to visit Endoscopy Centres abroad to enable them to learn specific techniques.

The presidents travel fund represents donations received to be utilised on travel expenses for the BSG president. The Pathologists Group fund is a donation to support the annual Basil Morson Lecture.

The Barretts Oesophagus Registry is a donation from the Barretts Oesophagus Registry to fund Trainees to attend DDW. The Galapagos Travel Bursary is to fund trainees and nurses travel expenses to the Annual Meeting.

The Section funds represent the income and expenditure in relation to the activities of these sections of the Society.

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53

17. Analysis of net assets between funds

Group Unrestricted funds Unrestricted funds Restricted
funds
£
—
—
—
120,697
—
120,697
Restricted
funds
£
—
—
—
132,655
—
132,655		 Total
funds
£
General
fund
£		 Designated
funds
£
Fund balances at 31 December 2022
are represented by:
Intangible fxed assets
Tangible fxed assets
Investments
Current assets
Current liabilities
Total net assets		 —
—
2,557,113
(175,584)
(363,610)		 25,352
44,958
4,242,696
1,351,423
(412)		 25,352
44,958
6,799,809
1,296,536
(364,022)
2,017,919 5,664,017 7,802,633
Group (restated) Total
funds
£
General
fund
£		 Designated
funds
£
Fund balances at 31 December 2021 are
represented by:
Intangible fxed assets
Tangible fxed assets
Investments
Current assets
Current liabilities
Total net assets		 —
—
1,757,113
748,488
(313,500)		 40,580
56,235
5,201,696
1,064,828
(5,293)		 40,580
56,235
6,958,809
1,945,971
(318,793)
2,192,101 6,358,046 8,682,802

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54

NOTES TO THE FINANCIAL STATEMENTS

18. Ultimate control and related party transactions

The charity has no ultimate controlling party.

No Trustee received remuneration from the group and charity in respect of their services as Trustee.

19. Guts UK Charity

The Society works closely with Guts UK Charity (previously known as Core – The Digestive Disorders Foundation) (Charity Registration No 1137029 and Company Registration No 07274105 (England and Wales)) to support Guts UK’s mission to support research training for young doctors and scientists, the application of new knowledge to practice and the provision of patient information to the public; Guts UK is the only charity dedicated to the whole of gastrointestinal diseases. The Chairman of the Research Committee of the BSG is a Trustee of Guts UK. The President of Guts UK is an exofficio member of the BSG Council.

Transactions between the two charities during the year were as follows:

The Society gave one grant of £16,396 to Guts UK during the year (2021 – one grant of £25,000 which remained payable at 31 December 2021).

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