REGISTERED CHARITY NUMBER: CIO 1156435 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 FOR INTERNATIONAL MENOPAUSE SOCIETY Haines Watts Chartered Accountants Old Station House Station Approach Newport Street Swindon Wiltshire SN1 3DU INTERNATIONAL MENOPAUSE SOCIETY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ||Page| |---|---| |Report of the Trustees|1 to 8| |Independent Examiner's Report|9| |Statement of Financial Activities|10| |Statement of Financial Position|11| |Notes to the financial statements|12 to 20| ## INTERNATIONAL MENOPAUSE SOCIETY ## REPORT OF THE TRUSTEES ## FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees 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 2020). The International Menopause Society (IMS) has been registered as a Charitable Incorporated Organisation (CIO) with The Charity Commission of England and Wales since 28th March 2014. The organisation is governed by its Constitution and Rules. The Board of Directors of the charity are its Trustees for the purposes of charity law and throughout this report are collectively referred to as Trustees. The IMS was founded in 1978 and aims to promote education, study, and research into midlife women's health. It organises, prepares, and contributes to international meetings and congresses on menopause and climacteric, and encourages the interchange of research and experience between individual members. Membership of the IMS is open to individual physicians with an interest in menopause, Scientists and other health professionals involved in basic research or clinical work in the menopause field or an interest in other aspects in the field of menopause management. The Trustees present their annual report together with the audited financial statements of the organisation for the year ended 31 December 2020. The Trustees confirm that the Annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing documents and the provisions of the Charities Statement of Recommended Practice (SORP) FRS102. ## MISSION AND VISION The principal object of the organisation as set out in its Constitution is: the relief of sickness and the preservation and protection of good health by the promotion and co-ordination of information, education and scientific studies of the health and well-being of peri- and post-menopausal women during and after mid-life. This object is encapsulated within the IMS Mission and Vision Statements, which were updated in December 2019. The MISSION of IMS is to work globally to promote and support access to best practice health care for women through their menopause transition and post-reproductive years, enabling them to achieve optimal health and well-being. The VISION of the IMS is that all women across the world will have easy and equitable access to evidencebased knowledge and health care, empowering them to make fully informed mid-life health choices. Page 1 ## INTERNATIONAL MENOPAUSE SOCIETY ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 ## OBJECTIVES The IMS plans and reviews its strategic objectives and activities via an annual business planning cycle. The organisation's primary objectives to deliver its mission and vision include: - disseminating evidence-based knowledge to doctors and health care professionals all over the world through multi-lingual and multi-cultural educational resources, programs and events including the World Menopause Congress; - supporting and promoting research into all aspects of the menopause and aging in women; - facilitating collaboration and information-exchange between health care professionals, medical societies and organisations with shared interests and goals; - supporting and promoting excellence in the multi-disciplinary delivery of health care to women through the menopause transition and post-reproductive years; - development of evidence-based guidelines and position statements on issues related to the menopause and post-reproductive health; - increasing awareness and understanding of the menopause amongst the global community, health care professionals and policy makers; - providing multi-lingual, culturally sensitive health information to the global community, health care professionals and policy makers; and - guiding the media in the communication of new research findings and consistent health messages to the global community. ## ACTIVITIES All IMS activities focus on supporting the awareness of menopause and the education of health professionals, so they can offer better understanding and treatment of the condition. These activities are undertaken to further our charitable purposes for the public benefit. We review our activities each year and monitor the impact of our work to ensure that we continue to fulfil our purpose of helping raise the standards of treatment of health for women in midlife. We consider how planned activities will contribute to the aims and objectives we have set. Page 2 ## INTERNATIONAL MENOPAUSE SOCIETY ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 ## ACTIVITIES IN 2020 ## World Congress on Menopause The IMS holds a World Congress on Menopause every two years to bring together the world’s leading experts on menopause to present the latest science and innovation in the field of midlife women’s health. The 17th World Congress on Menopause was due to be held in Melbourne, Australia in May 2020 but was cancelled due to the COVID-19 pandemic. In late 2020, the Scientific Committee was selected, and planning began for the next World Congress in 2022, to be held in Lisbon, Portugal. The Trustees agreed to hold the World Congress 2024 in Melbourne. ## Educational Activities and Resources ## IMPART The International Menopause Society Professional Activity for Refresher Training (IMPART) is the first educational initiative pertaining to menopause that is internationally applicable to health care professionals working in, or with a special interest in, midlife women’s health. It is aligned with the International Menopause Society’s (IMS) mission to work globally to promote and support access to best practice health care for women through their menopause transition and post-reproductive years, enabling them to achieve optimal health and well-being. The course was developed in June 2017 and hosted on a learning platform by the organisation that was originally contracted to create it. In March 2020, the Trustees decided to take the management and further development of this course in-house and to move the course to a new learning platform. In July 2020, the Level 1 course was updated and launched on the new platform and the Spanish translation of the course was launched in September 2020. By December 2020 nearly 2,000 people had registered for the course. This was a great success considering that the original version had 1,321 registrations between June 2018 and May 2020. Translations in Portuguese, Russian, Chinese, Arabic and Vietnamese, and the launch of IMPART Level 2 are planned for 2021. ## Webinars Following the cancellation of the 17[th] World Congress on Menopause, the Trustees agreed to pilot a series of free livestreamed webinars. Since people were unable to travel due to the pandemic, the purpose of the webinars was to bring the world’s leading experts on midlife women’s health into homes and workplaces to present the latest science, and to offer participants the opportunity to engage in question-and-answer sessions with the speakers. The webinar series was an outstanding success and was extended up to the 18[th] World Congress in October 2022. The webinars delivered in 2020 are listed below: |DATE|TITLE|REGISTERED|DATE|TITLE|REGISTERED| |---|---|---|---|---|---| |23.06.20|Menopause Hormone
Therapy Dos and Don’ts|1,202|15.09.20|Actualización del
manejo de la
osteoporosis|858| |21.07.20|Lessons from the Global
Consensus on
Testosterone for Women|1,161|13.10.20|POI: A New Era|1,582| |25.08.20|VVA– The Silent Epidemic|1,180|10.11.20|Managing Menopausal
Bleeding|1,176| ||||15.12.20|Dealing with A Big
Issue: Weight Gain At
Midlife|958| ## INTERNATIONAL MENOPAUSE SOCIETY ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 ## World Menopause Day World Menopause Day is held every year on the 18[th] of October. The day was designated by the International Menopause Society (IMS) and the World Health Organisation (WHO) to raise awareness of the menopause and to support options to improve health and well-being for women in mid-life and beyond. Every year, the IMS selects a theme and publishes a White Paper, and leaflets and posters for consumers. Organisations, professionals and women are all encouraged to participate in this global awareness raising campaign by sharing our educational resources, organising events and engaging with social media posts. The theme of World Menopause Day 2020 was Premature Ovarian Insufficiency (POI). The resources were translated into fifteen languages. The White Paper was published online and in print in the IMS journal, Climacteric. ## Climacteric Climacteric is the official journal of the International Menopause Society (IMS). As an international peerreviewed journal, it publishes original research and reviews of all aspects of aging in women. Climacteric was founded by the IMS in 1998 and today has become a leading journal in the publication of peer-reviewed papers on the menopause, climacteric and mid-life health. Topics covered include endocrine changes, symptoms attributed to the menopause and their treatment, hormone replacement and alternative therapies, lifestyles, and the counselling and education of peri- and postmenopausal women. Climacteric, published bimonthly, also features regular invited reviews, editorials and commentaries on recent developments. The editorial review board of Climacteric includes leading scientific and clinical experts in the field of midlife medicine and research and is headed by its Editor-in-Chief, Professor Rod Baber of Australia. He and his team of Associate Editors act independently to set a clear editorial policy, co-ordinate peer review, and ensure a rapid response to submitted papers. At the end of 2020, the Impact Factor of the journal was 3.005. ## Online Engagement A new website was being developed in late 2020, to be launched in 2021. The new website was designed to streamline the membership application process, enhance accessibility of educational resources and actively engage IMS members. Regular engagement with members continued successfully throughout 2020 via the monthly editions of Menopause Live, a scientific review of publications, and Our Menopause World, the newsletter. Page 4 ## INTERNATIONAL MENOPAUSE SOCIETY ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 ## FINANCIAL REVIEW ## Financial position The Trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. The organisation has achieved an in-year deficit of £126,278, which was due to costs for cancellation of the World Congress on Menopause in May 2020. The total funds carried forward for the year is £1,295,038 of which £6,210 are restricted funds. ## Reserves policy The Society has a reserves policy whereby the organisation seeks to hold reserves sufficient to meet one year’s operating costs during a period of difficulty. The aim is to increase the reserves overtime to meet more than one year’s operating costs to ensure we have sufficient to run the Society in the event that a World Congress, our main source of income, is ever disrupted, and to help sponsor more research in the future. The finance subcommittee of Trustees reviews the reserves policy on an annual basis. At the year-end free reserves (unrestricted funds less designated funds and functional fixed assets) amounted to £182,824 (2019 £393,141). ## FUTURE PLANS The IMS Strategic Plan for 2020-2021 sets out the following strategic goals for the organisation: 1. Knowledge and Education: Broaden the reach and increase the impact of IMS by enhancing current activities and developing new initiatives. 2. Membership and Stakeholders: Build and maintain a diverse and active membership, and productive partnerships with stakeholders. 3. Finances: Diversify income streams and optimise operational costs to sustain and grow the organisation. 4. Governance: Maintain robust operational policies and procedures to ensure consistency, quality, accountability, transparency and corporate memory. ## STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing document IMS legal seat and charitable registration has been in England and Wales when accepted by the Charity Commissions as a Charitable Incorporated Organisation (CIO) on 28th March 2014, with a registered charity number of 1156435. IMS has two governing documents – the IMS Constitution and the Rules. The Constitution can only be amended by resolution agreed in writing by all members of IMS and then by a resolution passed by a 75% majority of votes cast at a general meeting of the members of IMS. The Rules are designed to provide practical guidance for the day-to-day management of the Society, and can be changed by full IMS Board approval, with subsequent notification to the Charity Commission. In the event of the charity being wound up, no member would be liable to contribute towards the organisation’s costs or payment of debts or liabilities. Page 5 ## INTERNATIONAL MENOPAUSE SOCIETY ## REPORT OF THE TRUSTEES ## FOR THE YEAR ENDED 31 DECEMBER 2020 ## Organisational structure ## Board of Directors The oversight of the organisation's assets and strategic direction is the responsibility of its Trustees who are elected to the Board of Directors by the members of the Society. The Trustees serve a two-year term and may seek re-election for up to two additional terms. The Trustees elect a President, General Secretary and Treasurer who, along with the chairman of CAMS and the past President, form the Executive Committee of the Board. The Trustees have complied with their duty outlined in section 4 of the Charities Act 2006 to have due regard to public benefit guidance issued by The Charity Commission. All Trustees engage in an induction programme that involves Trustee training on the organisation's work. This is coordinated by the President and the Chief Executive Officer (CEO). Continued training and development is regularly reviewed and offered to the Trustees as needs are identified. ## Secretariat The CEO is responsible for the strategic management and day to day running of the organisation. Pay and remuneration strategy is headed by the Treasurer with support from the Officers and discussed and agreed annually. ## Risk management As part of the periodical strategic review the Trustees identify major risks to the Society and takes steps to mitigate the identified risks. The Board of Trustees have an ongoing brief to review all risks and assess them on a regular basis to ensure that their financial or ethical impact have been identified and monitored. All financial impacts are reviewed regularly by the Finance subcommittee headed by the Treasurer and the IMS reserves policy provides contingency cover should any risk materialise. Although we are only required by the Charity Commission to run the Society for one year, we have enough reserves to cover a much longer period in case a World Congress should fail completely. The current ethical code for the organisation is available on the IMS website and a new Ethical standards subcommittee for the Board has started to review the current code and make recommendations for future improvements in our Code of Practice documents e.g. Disclosure of Conflicts statement. The Society does not anticipate any factors likely to affect future performance, unless a world congress is cancelled or disrupted in any way, which might affect the incomes to support the charity's activities. However, our reserves are designed to cover running costs to ameliorate this potential factor and insurance is in place to recuperate any potential losses from a World Congress. Page 6 ## INTERNATIONAL MENOPAUSE SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 ## REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number CIO 1156435 ## Principal address 13 Leechwell Street Totnes Devon TQ9 5SX ## Trustees Board of Trustees to October 2020 Professor Susan Davis (AU) President Mr Nicholas Panay (UK) General Secretary Professor Sunila Khandelwal (IN) Treasurer Professor Steven Goldstein (USA) President elect Dr Ang Seng Bin (SG) Dr Sonia Cerdas (CR) Mr Tim Hillard (UK) Professor Robert Langer (USA) Professor Pauline Maki (USA) Dr Camilo Rueda (COL) Professor Xiangyan Ruan (CH) Professor Tommaso Simoncini (IT) Professor Rosella Nappi (IT) Professor Wendy Wolfman (CAN) Professor Mary Ann Lumsden Immediate Past President Professor David Archer Chairman, Council of Affiliated Menopause Societies ## Board of Trustees from October 2020 Professor Steven Goldstein (USA) President Professor Rosella Nappi (IT) General Secretary Dr Ang Seng Bin (SG) Treasurer Mr Nicholas Panay (UK) President elect Professor Pauline Maki (USA) Dr Sonia Cerdas (CR) Professor Robert Langer (USA) Professor Sunila Khandelwal (IN) Mr Tim Hillard (UK) Professor Xiangyan Ruan (CH) Professor Amanda Vincent (AU) Professor Amos Pines (IL) Dr Marla Shapiro (CAN) Professor Santiago Palacios (ESP) Professor Susan Davis (AU) Immediate Past President Professor Tommaso Simoncini (IT) Chairman, Council of Affiliated Menopause Societies Chief Executive Officer (CEO) Rebecca Cheshire Page 7 ## INTERNATIONAL MENOPAUSE SOCIETY ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 ## Independent Examiner Susan Plumb ACA, Haines Watts Chartered Accountants Old Station House Station Approach Newport Street Swindon Wiltshire SN1 3DU Approved by order of the Board of Trustees on 17[th] October 2021 and signed on its behalf by: ................................................................. Professor Steven R. Goldstein Trustee and President, IMS 2020 Page 8 ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INTERNATIONAL MENOPAUSE SOCIETY ## Independent examiner's report to the Trustees of International Menopause Society I report to the charity Trustees on my examination of the accounts of International Menopause Society (the Trust) for the year ended 31 December 2020. ## Responsibilities and basis of report As the charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 registered member of ACA which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Susan Plumb ACA Haines Watts Chartered Accountants Old Station House Station Approach Newport Street Swindon Wiltshire SN1 3DU Date: 25 Oct 2021 Page 9 ## INTERNATIONAL MENOPAUSE SOCIETY ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 |Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
240,824
Investment income
3
39,199
Total
280,023
EXPENDITURE ON
Charitable activities
World Congress
252,611
Support costs
190,136
IMPART Program
-
Androgen Task Force
-
Total
442,747
Net gains on investments
36,657
NET INCOME/(EXPENDITURE)
(126,067)
RECONCILIATION OF FUNDS
Total funds brought forward
1,414,895
TOTAL FUNDS CARRIED FORWARD
1,288,828|
Restricted
funds
£
-
-
-
-
-
-
211
211
-
(211)
6,421
6,210|2020

Total
funds
£
240,824
39,199
280,023
252,611
190,136
-
211
442,958
36,657
(126,278)
1,421,316
1,295,038|2019
Total
funds
£
174,136
46,580| |---|---|---|---| ||||220,716
-
259,871
21,078
9,344| ||||290,293
79,708| ||||10,131
1,411,185| ||||1,421,316| The notes form part of these financial statements Page 10 ## INTERNATIONAL MENOPAUSE SOCIETY ## STATEMENT OF FINANCIAL POSITION ## 31 DECEMBER 2020 |Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
7
853
Investments
8
1,095,670
1,096,523
CURRENT ASSETS
Debtors
9
85,045
Cash at bank
214,843
299,888
CREDITORS
Amounts falling due within one year
10
(107,583)
NET CURRENT ASSETS
192,305
TOTAL ASSETS LESS CURRENT LIABILITIES
1,288,828
NET ASSETS
1,288,828
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS|
Restricted
funds
£
-
-
-
-
6,210
6,210
-
6,210
6,210
6,210|2020

Total
funds
£
853
1,095,670
1,096,523
85,045
221,053
306,098
(107,583)
198,515
1,295,038
1,295,038
1,288,828
6,210
1,295,038|2019
Total
funds
£
978
1,020,776
1,021,754
112,909
336,671
449,580
(50,018)
399,562
1,421,316
1,421,316
1,414,895
6,421
1,421,316| |---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 17[th] October 2021 and were signed on its behalf by: ............................................. Professor Steven R Goldstein Trustee and President, IMS 2020 The notes form part of these financial statements Page 11 INTERNATIONAL MENOPAUSE 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 charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £. ## Going concern The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charity's operations, funding, suppliers and wider economy. The Trustees' view on the impact of COVID-19 is that, given the measures that could be undertaken to mitigate the current adverse conditions and the current resources available, they can continue to adopt the going concern basis in preparing the financial statements. ## 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. ## 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. ## Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment 25% straight line ## Taxation The charity is exempt from tax on its charitable activities. ## Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. continued... Page 12 INTERNATIONAL MENOPAUSE SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020 ## 1. ACCOUNTING POLICIES - continued ## Fund accounting 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. ## Foreign currencies Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. ## Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## Investments Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. ## Debtors and prepayments Trade and other debtors are recognised at the settlement amount due after any trade discounts. Prepayments are valued at the amount prepaid net of any discounts. ## Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably. continued... Page 13 ## INTERNATIONAL MENOPAUSE SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS - continued ## FOR THE YEAR ENDED 31 DECEMBER 2020 ## 2. DONATIONS AND LEGACIES |Regional meetings
Membership
Educational grants
3.
INVESTMENT INCOME
Income from listed investments|2020
£
50,000
37,381
153,443
240,824
2020
£
39,199|2019
£
71,832
45,533
56,771
174,136
2019
£
46,580| |---|---|---| ## 4. 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 The total amount of travel expenses reimbursed to 2 Trustees (2019 13 Trustees) during the year was £1,616 (2019 £27,789). ## 5. STAFF COSTS |Wages and salaries
Social security costs
Other pension costs|2020
£
85,939
9,327
922
96,188|2019
£
79,413
5,590
-
85,003| |---|---|---| The average monthly number of employees during the year was as follows: ||2020|2019| |---|---|---| |Administrative|2|2| No employees received emoluments in excess of £80,000. ## Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £78,562 (2019: £72,336). continued... Page 14 ## INTERNATIONAL MENOPAUSE SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS - continued ## FOR THE YEAR ENDED 31 DECEMBER 2020 |6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
137,293
Investment income
46,580
Total
183,873
EXPENDITURE ON
Charitable activities
Support costs
259,871
IMPART Program
-
Androgen Task Force
-
Total
259,871
Net gains on investments
79,708
NET INCOME
3,710
RECONCILIATION OF FUNDS
Total funds brought forward
1,411,185
TOTAL FUNDS CARRIED FORWARD
1,414,895|
Restricted
funds
£
36,843
-
36,843
-
21,078
9,344
30,422
-
6,421
-
6,421|
Total
funds
£
174,136
46,580| |---|---|---| |||220,716
259,871
21,078
9,344| |||290,293
79,708| |||10,131
1,411,185| |||1,421,316| continued... Page 15 ## INTERNATIONAL MENOPAUSE SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS - continued ## FOR THE YEAR ENDED 31 DECEMBER 2020 ## 7. TANGIBLE FIXED ASSETS |COST
At 1 January 2020
Additions
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
8.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2020
PROVISIONS
Revaluation adjustments
NET BOOK VALUE
At 31 December 2020
At 31 December 2019|Computer
equipment
£
1,810
159
1,969
832
284
1,116
853
978
Listed
investments
£
1,020,776
(74,894)
1,095,670
1,020,776| |---|---| At the year-end investments represent unit trusts held by Schroders. continued... Page 16 ## INTERNATIONAL MENOPAUSE SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020 ## 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |Trade debtors
Prepayments and accrued income
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Taxation and social security
Other creditors|2020
£
57,200
27,845
85,045
2020
£
2,739
104,844
107,583|2019
£
53,705
59,204
112,909
2019
£
2,620
47,398
50,018| |---|---|---| Included in accruals and deferred income above is £9,189 (2019 £905) of deferred income relating to membership for 2021. All deferred income is released in the following year. ## 11. MOVEMENT IN FUNDS |MOVEMENT IN FUNDS|||| |---|---|---|---| |Net
movement
At 1/1/20
in funds
£
£
Unrestricted funds
General fund
1,414,895
(126,067)
Designated fund - IMPART Program
-
-
1,414,895
(126,067)
Restricted funds
Androgen Task Force
6,421
(211)
TOTAL FUNDS
1,421,316
(126,278)
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
280,023
(442,747)
Restricted funds
Androgen Task Force
-
(211)
TOTAL FUNDS
280,023
(442,958)|
|Transfers
between
funds
£
(9,481)
9,481
-
-
-
Gains and
losses
£
36,657
-
36,657|
At
31/12/20
£
1,279,347
9,481
1,288,828
6,210
1,295,038

Movement
in funds
£
(126,067)
(211)
(126,278)| ||||| ||||| ||
||| continued... Page 17 INTERNATIONAL MENOPAUSE SOCIETY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020 ## 11. MOVEMENT IN FUNDS - continued ## Comparatives for movement in funds |Unrestricted funds
General fund
Restricted funds
Androgen Task Force
TOTAL FUNDS|At 1/1/19
£
1,411,185
-
1,411,185|Net
movement

in funds
£
3,710
6,421
10,131|
At

31/12/19
£
1,414,895
6,421| |---|---|---|---| ||||1,421,316| Comparative net movement in funds, included in the above are as follows: |Unrestricted funds
General fund
Restricted funds
IMPART Program
Androgen Task Force
TOTAL FUNDS|Incoming
resources
£
183,873
21,078
15,765
36,843
220,716|Resources
expended
£
(259,871)
(21,078)
(9,344)
(30,422)
(290,293)|Gains and
Movement
losses
in funds
£
£
79,708
3,710
-
-
-
6,421
-
6,421
79,708
10,131| |---|---|---|---| continued... Page 18 ## INTERNATIONAL MENOPAUSE SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020 ## 11. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows: |Unrestricted funds
General fund
Designated fund - IMPART Program
Restricted funds
Androgen Task Force
TOTAL FUNDS|At 1/1/19
£
1,411,185
-
1,411,185
-
1,411,185|Net
movement

in funds
£
(122,357)
-
(122,357)
6,210
(116,147)|Transfers

between

funds
£
(9,481)
9,481
-
-
-|
At
31/12/20
£
1,279,347
9,481
1,288,828
6,210
1,295,038| |---|---|---|---|---| 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
IMPART Program
Androgen Task Force
TOTAL FUNDS|Incoming
resources
£
463,896
21,078
15,765
36,843
500,739|Resources
expended
£
(702,618)
(21,078)
(9,555)
(30,633)
(733,251)|Gains and
Movement
losses
in funds
£
£
116,365
(122,357)
-
-
-
6,210
-
6,210
116,365
(116,147)| |---|---|---|---| ## IMPART Program IMS received a grant from Pfizer (India) to create IMPART (International Menopause Society Professional Activity for Refresher Training). It is a self-learning, interactive, online course from IMS on Menopausal Health targeting health of 'aging' women. The course will be accessible free of cost to medical professionals globally - including PG students, Family Physicians and Practicing clinicians who treat post-menopausal women with a view to prevent or mitigate their health issues. continued... Page 19 INTERNATIONAL MENOPAUSE SOCIETY ## NOTES TO THE FINANCIAL STATEMENTS - continued ## FOR THE YEAR ENDED 31 DECEMBER 2020 ## 11. MOVEMENT IN FUNDS - continued ## Androgen Task Force The Task Force, consisting of the International Menopause Society, The Endocrine Society, The European Menopause and Andropause Society, The International Society for Sexual Medicine, The International Society for the Study of Women's Sexual Health, The North American Menopause Society, The Federacion Latinoamericana de Sociedades de Climaterio y Menopausia, The Royal College of Obstetricians and Gynaecologists, The International Society of Endocrinology, The Endocrine Society of Australia, and The Royal Australian and New Zealand College of Obstetricians and Gynaecologists, came together to produce a Global Consensus Position Statement on the Use of Testosterone Therapy for Women. Each Society was asked to pay towards the cost of the meeting and the production and promotion of the Position Statement. IMS, as the instigator of the concept, collected the money and was responsible for the resulting expenditure. The Position Statement was developed, by consensus between the participating organizations, to inform healthcare professionals of the known benefits and potential risks of testosterone therapy for women. The aims were to provide clear guidance as to which women might benefit from testosterone therapy, to identify symptoms, signs, and conditions for which evidence does not support the prescribing of testosterone, to explore areas of uncertainty, and to identify any prescribing practices that have the potential to cause harm. ## 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2020. Page 20