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← British Nuclear Medicine Society

2023-12-31-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 2023

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 2023

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 9 to 14
Detailed Statement of Financial Activities 15 to 16

BRITISH NUCLEAR MEDICINE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023. 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

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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:

Spring Autumn Online
Harrogate London Educational Total
£ £ £ £
Income
Commercial exhibition income 159,973 26,048 1,000 187,021
Annual conference delegate registration fees 105,468 25,466 17,546 148,480
265,441 51,514 18,546 335,501
Less: Scientific meeting expenses 187.789 43,683 7,135 238,607
Surplus 77,652 7,831 11,411 96,894

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.

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 NW1 4LE

Trustees

Who are also directors Mrs J Croasdale Dr R Graham Dr S Redman Dr J R Buscombe (Resigned 17 May 22) Mr C S Kalirai (appointed 17 May 22)

Radiopharmacist Radiologist Radiologist Nuclear Medicine Physician Clinical Scientist

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 8 May 2024 and signed on its behalf by:

Page 2

BRITISH NUCLEAR MEDICINE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

Mr C S Kalirai - 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 2023.

Responsibilities and basis of report

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

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

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

  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

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

8 May 2024

Page 4

BRITISH NUCLEAR MEDICINE SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
fund
fund
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
4,400
-
Other trading activities
3
412,849
(83)
Investment income
4
5,768
165
Other income
90,564
-
Total
513,581
82
EXPENDITURE ON
Raising funds
5
422,080
217
NET INCOME/(EXPENDITURE)
91,501
(135)
RECONCILIATION OF FUNDS
Total funds brought forward
390,382
14,408
TOTAL FUNDS CARRIED FORWARD
481,883
14,273		 2023
Total
funds
£
4,400
412,766
5,933
90,564
513,663
422,297
91,366
404,790
496,156		 2022
Total
funds
£
3,500
319,943
1,706
64,036
389,185
339,483
49,702
355,088
404,790

The notes form part of these financial statements

Page 5

BRITISH NUCLEAR MEDICINE SOCIETY

BALANCE SHEET 31 DECEMBER 2023

Unrestricted
Restricted
fund
fund
Notes
£
£
FIXED ASSETS
Tangible assets
11
2,415
-
CURRENT ASSETS
Debtors
12
168,525
-
Cash at bank
418,872
14,273
587,397
14,273
CREDITORS
Amounts falling due within one year
13
(107,929)
-
NET CURRENT ASSETS
479,468
14,273
TOTAL ASSETS LESS CURRENT LIABILITIES
481,883
14,273
NET ASSETS
481,883
14,273
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2023
Total
funds
£
2,415
168,525
433,145
601,670
(107,929)
493,741
496,156
496,156
481,883
14,273
496,156		 2022
Total
funds
£
3,129
189,273
346,722
535,995
(134,334)
401,661
404,790
404,790
390,382
14,408
404,790

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 8 May 2024 and were signed on its behalf by:

Mr C S Kalirai - Trustee

The notes form part of these financial statements

Page 6

BRITISH NUCLEAR MEDICINE SOCIETY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
80,923
80,923
(433)
5,933
5,500
86,423
346,722
433,145		 2022
£
90,998
90,998
-
1,706
1,706
92,704
254,018
346,722

The notes form part of these financial statements

Page 7

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023
£
Net income for the reporting period (as per the Statement of Financial
Activities)
91,366
Adjustments for:
Depreciation charges
1,147
Interest received
(5,933)
Decrease in debtors
20,748
(Decrease)/increase in creditors
(26,405)
Net cash provided by operations
80,923		 2022
£
49,702
1,494
(1,706)
14,638
26,870
90,998

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£ £ £
Net cash
Cash at bank 346,722 86,423 433,145
346,722 86,423 433,145
Total 346,722 86,423 433,145

The notes form part of these financial statements

Page 8

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Grants and donations are only recognised in the statement of Financial Activity when the charity has unconditional entitlement to the resources. Where the donor imposes conditions that the resource is expended in a future accounting period, income is recorded as deferred income at the balance sheet date and a creditor is included under deferred income.

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 are available of use at the discretion of the trustees In furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.

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.

Page 9

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

2. DONATIONS AND LEGACIES
2023 2022
£ £
Donations 4,400 3,500
3. OTHER TRADING ACTIVITIES
2023 2022
£ £
Commercial exhibition income 187,021 148,658
Annual conference delegate registration fees 148,480 98,356
Commission received 4,124 169
Royalties received 71,861 72,760
Other project income 1,280 -
412,766 319,943
4. INVESTMENT INCOME
2023 2022
£ £
Deposit account interest 5,933 1,706
5. RAISING FUNDS
Raising donations and legacies
2023 2022
£ £
Support costs 141,820 106,165
Other trading activities
2023 2022
£ £
Purchases 239,557 189,112
Awards and prizes 1,432 775
Journal subscriptions 39,488 43,431
280,477 233,318
Aggregate amounts 422,297 339,483
6. SUPPORT COSTS
Governance
Management Finance Other costs Totals
£ £ £ £ £
Raising donations and
legacies 133,668 2,934 1,147 4,071 141,820

Page 10

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Other assurance services 3,831 4,383
Depreciation - owned assets 1,146 1,494

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

Payments totalling £4,761 (2022: £1,645) were made to trustees to reimburse travel costs to conferences and council meetings.

9. STAFF COSTS

Wages and salaries
Other pension costs		 2023
£
86,558
3,079
89,637		 2022
£
65,168
2,947
68,115

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

2023 2022
Administrative 3 2

No employees received emoluments in excess of £60,000.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3,500
Other trading activities
319,943
Investment income
1,666
Other income
64,036
Total
389,145
EXPENDITURE ON
Raising funds
339,483
NET INCOME
49,662
RECONCILIATION OF FUNDS
Total funds brought forward
340,720
TOTAL FUNDS CARRIED FORWARD
390,382		 Restricted
fund
£
-
-
40
-
40
-
40
14,368
14,408		 Total
funds
£
3,500
319,943
1,706
64,036
389,185
339,483
49,702
355,088
404,790

Page 11

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. TANGIBLE FIXED ASSETS

COST
At 1 January 2023
Additions
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses
14.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Ross Breen Fund
TOTAL FUNDS		 Fixtures
and
Computer
fittings
equipment
£
£
905
30,102
-
432
905
30,534
685
27,193
33
1,113
718
28,306
187
2,228
220
2,909
2023
£
49,542
39,132
79,851
168,525
2023
£
4,160
1,959
13,989
82,440
5,381
107,929
Net
movement
At 1.1.23
in funds
£
£
390,382
91,501
14,408
(135)
404,790
91,366		 Totals
£
31,007
432
31,439
27,878
1,146
29,024
2,415
3,129
2022
£
70,732
40,428
78,113
189,273
2022
£
5,897
2,177
20,665
100,959
4,636
134,334
At
31.12.23
£
481,883
14,273
496,156

Page 12

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 513,581 (422,080) 91,501
Restricted funds
Ross Breen Fund 82 (217) (135)
TOTAL FUNDS 513,663 (422,297) 91,366

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Ross Breen Fund
TOTAL FUNDS		 Net
movement
At 1.1.22
in funds
£
£
340,720
49,662
14,368
40
355,088
49,702		 At
31.12.22
£
390,382
14,408
404,790

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
Movement
resources
expended
in funds
£
£
£
389,145
(339,483)
49,662
40
-
40
389,185
(339,483)
49,702

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		 Net
movement
At 1.1.22
in funds
£
£
340,720
141,163
14,368
(95)
355,088
141,068		 At
31.12.23
£
481,883
14,273
496,156

Page 13

continued...

BRITISH NUCLEAR MEDICINE SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

14. MOVEMENT IN FUNDS - continued

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
Movement
resources
expended
in funds
£
£
£
902,726
(761,563)
141,163
122
(217)
(95)
902,848
(761,780)
141,068

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.

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 14

BRITISH NUCLEAR MEDICINE SOCIETY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Commercial exhibition income
Annual conference delegate registration fees
Commission received
Royalties received
Other project income
Investment income
Deposit account interest
Other income
Members subscriptions
Total incoming resources
EXPENDITURE
Other trading activities
Scientific meeting expenses
Other project expenses
Awards and prizes
Journal subscriptions
Support costs
Management
Wages and social security
Pensions
Rent
Insurance
Subscriptions
Telephone
Postage and stationery
General meeting and travelling expenses
Sundries
Computer costs
Advertising and website costs
Finance
Bank charges
Direct debit processing costs
Other
Fixtures and fittings
Carried forward		 2023
£
4,400
187,021
148,480
4,124
71,861
1,280
412,766
5,933
90,564
513,663
238,607
950
1,432
39,488
280,477
86,558
3,079
1,280
1,033
678
709
867
19,711
355
19,398
-
133,668
1,681
1,253
2,934
33
33		 2022
£
3,500
148,658
98,356
169
72,760
-
319,943
1,706
64,036
389,185
183,663
5,449
775
43,431
233,318
65,168
2,947
1,265
813
1,332
517
615
7,051
113
16,493
796
97,110
1,419
1,069
2,488
39
39

This page does not form part of the statutory financial statements

Page 15

BRITISH NUCLEAR MEDICINE SOCIETY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Other
Brought forward
Computer equipment
Governance costs
Auditors' remuneration for non audit work
Professional charges
Payroll costs
Total resources expended
Net income		 2023
£
33
1,114
1,147
3,831
-
240
4,071
422,297
91,366		 2022
£
39
1,455
1,494
4,383
450
240
5,073
339,483
49,702

This page does not form part of the statutory financial statements

Page 16