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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 08082786 (England and Wales) REGISTERED CHARITY NUMBER: 1150234

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR BRITISH NUCLEAR MEDICINE SOCIETY

E R Grove & Co Limited Grove House Coombs Wood Court Steel Park Road Halesowen West Midlands B62 8BF

BRITISH NUCLEAR MEDICINE SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 12

BRITISH NUCLEAR MEDICINE SOCIETY (REGISTERED NUMBER: 08082786)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

British Nuclear Medicine Society is dedicated to promoting the multidisciplinary practice of high quality nuclear medicine for the benefit of patients.

The specific objectives of the British Nuclear Medicine Society are to:

1 Raise the profile of nuclear medicine

2 Engage with all health care providers involved in the clinical use of radionuclides

3 Provide a forum for the communication of advances in nuclear medicine

4 Provide resources and encourage the provision of education and training to support continuing professional development.

5 Represent nuclear medicine with official bodies and on advisory committees

6 Develop and promote standards and guidelines for the safe and effective practice of nuclear medicine

7 Promote nuclear medicine research and development

8 Improve the level of support to isolated departments

9 Provide greater information for the benefit of patients

10 Promote and support the recertification/revalidation of practitioners 11 Maintain an appropriate charitable status.

Significant activities

In order for the charity to achieve its aim BNMS engage in the following activities:

Public benefit

The public benefits from the activities of the British Nuclear Medicine Society through the pursuit of its specific objectives including the development and promotion of standards and guidelines for the safe and effective practice of nuclear medicine, the promotion of nuclear medicine research and development and the provision of greater information for the public on the BNMS website.

Page 1

BRITISH NUCLEAR MEDICINE SOCIETY (REGISTERED NUMBER: 08082786)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The British Nuclear Medicine Society held three scientific and educational meetings this year around the UK, the results of which are as follows:

Liverpool
(cancelled)		 Virtual Total
£ £ £
Income
Commercial exhibition income - 4,500 4,500
Annual conference delegate registration fees - 5,900 5,900
- 10,400 10,400
Less: Scientific meeting expenses 489 -7,307 -7,917
Surplus / (deficit) -489 3,093 2,484

Fundraising activities

The British Nuclear Medicine Society generates income from membership fees, from royalties received through "Nuclear Medicine Communications" (the scientific journal of the BNMS) as well registration and exhibitor fees from those attendees at the annual and educational meetings of the Society.

Covid-19 Pandemic

The onset of the Pandemic caused significant disruption to the society's operations and scientific meetings.

The charity has introduced a few changes to our working practices to safeguard our employees and trustees. These include, closing the head office and moving to home working. Reducing the number of staff from three to two.

The charity made the difficult decision to cancel our annual spring meeting in Liverpool and convert our move our autumn meeting in Leeds to an online meeting.

We are pleased that membership numbers have been steady during the year and that most of the costs scientific meeting s that were cancelled, were recovered by the charity for future meetings.

The ongoing pandemic brings continued uncertainty to the wider economy and our own operations. However, the trustees are confident the charity is well placed to deal with these challenges.

FUTURE PLANS

The society will continue to promote the multidisciplinary practice of nuclear medicine for the benefit of patients. It plans to continue holding regular meetings throughout the country and will further encourage regional networks.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

08082786 (England and Wales)

Registered Charity number

1150234

Registered office

Royal College of Physicians 11 St Andrews Place Regents Park London London NW1 4LE

Page 2

BRITISH NUCLEAR MEDICINE SOCIETY (REGISTERED NUMBER: 08082786)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees

Mrs J Croasdale Radiopharmacist Dr R Graham Radiologist Dr S Redman Clinical Scientist Mr C S Kalirai Nuclear Medicine Physicist Dr J R Buscombe Nuclear Medicine Physician Mr N Gulliver Nuclear Medicine Technologist (resigned 23.9.20) Dr Y Du Nuclear Medicine Physician (resigned 23.9.20) Dr F X Sundram Physician Dr A G Irwin Clinical Scientist Mr C Mayes Trustee (appointed 23.9.20) Dr A Parthipun Trustee (appointed 23.9.20)

Independent Examiner

E R Grove & Co Limited Grove House Coombs Wood Court Steel Park Road Halesowen West Midlands B62 8BF

Approved by order of the board of trustees on 23 March 2021 and signed on its behalf by:

Dr J R Buscombe - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRITISH NUCLEAR MEDICINE SOCIETY

Independent examiner's report to the trustees of British Nuclear Medicine Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

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

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Steven Lomas Senior Statutory Auditor E R Grove & Co Limited Grove House Coombs Wood Court Steel Park Road Halesowen West Midlands B62 8BF

23 March 2021

Page 4

BRITISH NUCLEAR MEDICINE SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
-
Other trading activities
2
82,144
Investment income
3
1,291
Other income
69,981
Total
153,416
EXPENDITURE ON
Raising funds
4
170,544
NET INCOME/(EXPENDITURE)
(17,128)
RECONCILIATION OF FUNDS
Total funds brought forward
328,375
TOTAL FUNDS CARRIED FORWARD
311,247		 Restricted
fund
£
-
-
13
-
13
-
13
14,349
14,362		 2020
Total
funds
£
-
82,144
1,304
69,981
153,429
170,544
(17,115)
342,724
325,609		 2019
Total
funds
£
42
272,789
1,839
51,512
326,182
297,129
29,053
313,671
342,724

The notes form part of these financial statements

Page 5

BRITISH NUCLEAR MEDICINE SOCIETY (REGISTERED NUMBER: 08082786)

BALANCE SHEET 31 DECEMBER 2020

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
9
6,724
CURRENT ASSETS
Debtors
10
151,916
Cash at bank
218,350
370,266
CREDITORS
Amounts falling due within one year
11
(65,743)
NET CURRENT ASSETS
304,523
TOTAL ASSETS LESS CURRENT LIABILITIES
311,247
NET ASSETS
311,247
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
14,362
14,362
-
14,362
14,362
14,362		 2020
Total
funds
£
6,724
151,916
232,712
384,628
(65,743)
318,885
325,609
325,609
311,247
14,362
325,609		 2019
Total
funds
£
8,614
156,905
271,401
428,306
(94,196)
334,110
342,724
342,724
328,375
14,349
342,724

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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

The financial statements were approved by the Board of Trustees and authorised for issue on 23 March 2021 and were signed on its behalf by:

Dr J R Buscombe - Trustee

The notes form part of these financial statements

Page 6

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Exhibition income is recognised in the Statement of Financial Activities in the year that the exhibition is held.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Exhibition expense are recognised in the Statement of Financial Activities in the year that the exhibition is held.

Tangible fixed assets

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

Fixtures and fittings - 15% on reducing balance Computer equipment - 33% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. OTHER TRADING ACTIVITIES

Commercial exhibition income
Annual conference delegate registration fees
Commission received
Royalties received
Other project income		 2020
£
4,500
5,900
856
70,617
271
82,144		 2019
£
111,313
88,295
870
68,775
3,536
272,789

Page 7

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

3. INVESTMENT INCOME

4.

5.

Deposit account interest
RAISING FUNDS
Raising donations and legacies
Support costs
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Other assurance services
Depreciation - owned assets
Deficit on disposal of fixed assets		 2020
£
1,304
2020
£
114,832
2020
£
5,000
3,446
248		 2019
£
1,839
2019
£
104,235
2019
£
3,150
4,238
-

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

Expenses of £1,355 (2019: £6,135) were paid to the trustees during the year.

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

8.

Administrative
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
42
Other trading activities
272,789
Investment income
1,811
Other income
51,512
Total
326,154
EXPENDITURE ON
Raising funds
297,129
NET INCOME
29,025		 2020
3
Restricted
fund
£
-
-
28
-
28
-
28		 2019
3
Total
funds
£
42
272,789
1,839
51,512
326,182
297,129
29,053

Page 8

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
RECONCILIATION OF FUNDS
Total funds brought forward
299,350
TOTAL FUNDS CARRIED FORWARD
328,375
9.
TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 January 2020
789
Additions
-
Disposals
-
At 31 December 2020
789
DEPRECIATION
At 1 January 2020
579
Charge for year
32
Eliminated on disposal
-
At 31 December 2020
611
NET BOOK VALUE
At 31 December 2020
178
At 31 December 2019
210
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
Prepayments and accrued income
Restricted
fund
£
14,321
14,349
Computer
equipment
£
30,944
1,883
(2,725)
30,102
22,540
3,414
(2,398)
23,556
6,546
8,404
2020
£
2,773
60,015
15,067
74,061
151,916		 Total
funds
£
313,671
342,724

Page 9

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Ross Breen Fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Ross Breen Fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Ross Breen Fund
TOTAL FUNDS		 At 1.1.20
£
328,375
14,349
342,724
Incoming
resources
£
153,416
13
153,429
At 1.1.19
£
299,350
14,321
313,671		 2020
2019
£
£
51,736
19,074
66
-
-
7,119
10,941
65,003
3,000
3,000
65,743
94,196
Net
movement
At
in funds
31.12.20
£
£
(17,128)
311,247
13
14,362
(17,115)
325,609
Resources
Movement
expended
in funds
£
£
(170,544)
(17,128)
-
13
(170,544)
(17,115)
Net
movement
At
in funds
31.12.19
£
£
29,025
328,375
28
14,349
29,053
342,724

12. MOVEMENT IN FUNDS

Page 10

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Ross Breen Fund
TOTAL FUNDS		 Incoming
resources
£
326,154
28
326,182		 Resources
Movement
expended
in funds
£
£
(297,129)
29,025
-
28
(297,129)
29,053		 Resources
Movement
expended
in funds
£
£
(297,129)
29,025
-
28
(297,129)
29,053
29,053

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Ross Breen Fund
TOTAL FUNDS		 At 1.1.19
£
299,350
14,321
313,671		 Net
movement
in funds
£
11,897
41
11,938		 At
31.12.20
£
311,247
14,362
325,609

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Ross Breen Fund
TOTAL FUNDS		 Incoming
resources
£
479,570
41
479,611		 Resources
Movement
expended
in funds
£
£
(467,673)
11,897
-
41
(467,673)
11,938		 Resources
Movement
expended
in funds
£
£
(467,673)
11,897
-
41
(467,673)
11,938
11,938

The Ros Breen Fund was established in memory of Ros Breen, who was Superintendent Radiographer in Nuclear Medicine at Southampton General Hospital. The fund is invested in a capital reserve bank account and the interest earned is then used to provide grants to members of the Technology Group.

Page 11

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

Page 12