OpenCharities

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

2023-12-31-accounts

REGISTERED CHARITY NUMBER: CIO 1156435

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

INTERNATIONAL MENOPAUSE SOCIETY

Haines Watts Chartered Accountants Old Station House Station Approach Swindon Wiltshire SN1 3DU

INTERNATIONAL MENOPAUSE SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Report of the Trustees 1 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Statement of Financial Position 13
Statement of Cash Flows 14
Notes to the Statement of Cash Flows 15
Notes to the Financial Statements 16 to 23

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees 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).

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 encourages the interchange of research and knowledge between individual members. Membership of the IMS is open to health care professionals with an interest in menopause and mid-life women’s health.

OBJECTIVES AND ACTIVITIES 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.

Significant activities

The IMS plans and reviews its strategic objectives and activities via aa strategic planning cycle. The organisation's primary work to deliver its mission and vision include:

Page 1

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

OBJECTIVES AND ACTIVITIES, cont.

ACTIVITIES

The IMS’s activities centre on promoting menopause awareness and equipping health care professionals with the knowledge to improve understanding and treatment of the condition. These efforts are integral to fulfilling our charitable objectives for public benefit. Regular reviews of our work help us assess its impact and ensure alignment with our goal of advancing health standards for midlife women. Planned initiatives are designed to meaningfully contribute to our established goals.

Public Benefit

The primary focus of the IMS’s work aligns with our charitable purpose of delivering public benefit. We annually evaluate our initiatives to ensure they effectively contribute to improving health care standards for mid-life women and remain aligned with our mission. Planned activities are carefully assessed to support our overarching aims and objectives.

ACHIEVEMENT AND PERFORMANCE Charitable activities

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, mid-life women's health. It is aligned with the IMS’s 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 Level 1 course was developed in June 2017 and updated in July 2020. The Level 2 course was launched on 18[th] October 2021.

Level 1 has been translated into Spanish, Portuguese, Chinese, Vietnamese, Arabic and Russian. Level 1 and the first five modules of Level 2 are available on the learning platform. Certificates of completion are provided for both levels, one-year free Limited Professional Membership to the IMS is awarded with completion of Level 1. As of 31[st] December 2023 there were 10,400 registrations for Level 1 and 400 registrations for Level 2. Registrants were from 116 countries.

Online Education Events

The IMS produced a wide range of online educational resources in 2023, including live webinars, interviews in video and podcast formats (for professionals and for women), and the Clinical Colloquium in Menopause and Midlife Women’s Health.

The objective of all online resources is to provide scientific information, including potential treatment and management, thereby increasing the participants’ and viewers’ knowledge and practical skills in providing best practice care for women in midlife and beyond. Ten webinars, eighteen interviews (two versions for each of the ten different topics), and seven Colloquium sessions were delivered in 2023. These are listed on the following pages.

The recordings of all of these resources, with the exception of the Clinical Colloquium recordings, which are available only for IMS members, are available for free on the IMS website, YouTube channel, and podcast platforms.

Page 2

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2023

Webinars

To Sleep, Perchance to Dream Moderator: Professor Wendy Wolfman Speakers: Professor Hadine Joffe and Professor Tommaso Simoncini Menopause and Work Moderator: Professor Peter Chedraui Speakers: Professor Kathleen Riach and Dr Marije Geukes Reproductive Conditions and Consequences for Menopausal Health Management Moderator: Professor Ang Seng Bin Speakers: Professor Bart Fauser and Dr Ludwig Kiesel The Microbiome and Nutrition in Midlife Women Moderator: Professor Pauline Maki Speakers: Dr Kelsey Gabel and Professor Jack Gilbert Management of Menopause in Patients with Obesity Moderator: Professor Katrin Schaudig Speakers: Professor John Stevenson and Dr Santiago Palacios Pay Attention on Your Way In! The vulva is an important organ too Moderator: Professor Rossella Nappi Speakers: Dr Jan Shifren and Dr Tami Rowen Genetic Causes of POI Moderator: Professor Wendy Wolfman Speakers: Professor Joop Laven and Professor Randi Hagerman Clinical Climacteric Conundrums Moderator: Professor Wendy Wolfman Speakers: Professor Peter Schnatz and Dr Michelle Jacobson Reproductive Milestones Across the Lifespan and Cardiovascular Risk in Women Moderator: Professor Peter Schnatz Speakers: Professor Samar R El Khoudary and Professor Cynthia Stuenkel Brain Teasers: Challenges in the Cranium Moderator: Professor Pauline Maki Speakers: Professor Anne MacGregor and Dr Riley Bove

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2023

Clinical Colloquium Bone health is not just bone mass Professor Steven Goldstein Breast screening and prevention Dr Lisa Larkin Cardiovascular health in midlife women Professor Peter Schnatz A personalized treatment approach to cognitive and mood symptoms of menopause Professor Pauline Maki Pharmaceutical management of early menopause symptoms Dr Tobie de Villiers Non-pharmaceutical approaches to treating menopausal symptoms: What does the evidence tell us? Associate Professor Carolyn Ee GSM (Genitourinary Syndrome of Menopause) and pelvic floor health Dr Tim Hillard

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2023

Interviews

Scientific advances in early cancer detection what the future holds Dr Lisa Larkin Menopause and abnormal bleeding Professor Wendy Wolfman Hormonal therapy and cardiovascular disease: Why all the confusion? Professsor Peter Schnatz A simple approach to menopause: The Menopause Quick Six (WWW.MQ6.CA) Professor Susan Goldstein Menopause and Work Professor Kathleen Riach Menopause in Obese Patients and Cardiovascular Risk Professor John Stevenson Long term Implications of PCOS Professor Bart Fauser Cardiovascular Disease in Women Professor Cynthia Stuenkel How should manage menopausal women with Endometriosis Professor Ludwig Kiesel

World Menopause Day

World Menopause Day is held every year on the 18th of October. The day was designated by the IMS and the World Health Organization (WHO) to raise awareness of 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, leaflets for consumers and an Engagement Toolkit. Organisations, professionals and women are encouraged to participate in this global awareness-raising campaign by sharing the educational resources, organising events and engaging with social media posts.

The theme of World Menopause Day 2023 was ‘Cardiovascular Disease’. 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 IMS. As an international peer-reviewed 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 menopause and mid-life women’s health. Climacteric is published bi-monthly.

The editorial review board of Climacteric includes leading scientific and clinical experts in the field of midlife medicine and research and was headed by the 2023 Editor-in-Chief, Professor Rodney Baber (Australia) until his retirement in October 2023. Dr Timothy Hillard (UK) was appointed Editor-in-Chief from that date. The Editor and team of Associate Editors acted independently to set a clear editorial process, co-ordinate peer reviews, and ensure a rapid response to submitted papers. At the end of 2023, the Impact Factor of the journal was 2.9

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2023

Endowment for Education and Research (EER)

The EER builds on the organisation’s well-established history of funding endeavours that promote education and research. This has included the Research Bursary, World Congress Travel Bursaries, and monetary prizes for IMS Awards. With the EER, the Board of Directors recognise the important role that funding plays in supporting vital initiatives to increase awareness and knowledge of menopause and mid-life women’s health. The EER was established on 4th August 2022, with the Young Scholars’ Bursary for the 18th World Congress on Menopause in Lisbon, Portugal as the first funded project.

In addition to the IMS’s own financial contributions to the EER, it secures unrestricted funds via a variety of sources, including grants and donations. In addition to generating funds, this brings broader opportunities to grow support for the organisation’s mission and to build partnerships.

Menopause Info

Menopause Info is the IMS website for women. It provides reliable information about menopause and midlife women’s health from the world’s leading experts. The content is curated and developed by the IMS with the aim to ensure that trusted, scientifically evidenced information is easily accessible to women across the globe. The resources published in 2023 include factsheets and expert interviews.

Page 6

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW Financial position

The financial position of the charity at the year end is set out on page 13.

The Trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. The biennial World Congress, the primary income generating activity for the organisation, was held in 2022 and the organisation achieved an in-year surplus of £167,399. In 2023 there was an in-year deficit of £159,552. The organisation prepares its annual budget cycle to carry forward the surplus from World Congress years to non-Congress years as income to balance or achieve a surplus in the budget for each financial year. Therefore, with the 2022 surplus carried forward, the 2023 budget also resulted in a surplus. The total funds carried forward for the year is £1,627,093 of which £16,146 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 £1,551,081 (2022 £1,704,493).

FUTURE PLANS

The IMS Strategic Plan for 2022-2026 sets out the following strategic goals for the organisation:

1. Broadening Our Reach

The IMS delivers a valued offering to benefit women’s health in midlife and during the menopause transition. We offer a range of products and benefits and the information we disseminate is evidence-based and comes from trusted sources. Given this offer, increasing awareness of its importance, and the need to counteract misinformation in this arena, we want to reach more women and professionals working with women.

This will be achieved by:

2. Increasing Our Impact

We want women to achieve optimal health and wellbeing through their menopause transition and postreproductive years. To this end, what we deliver should have maximum impact on all our audiences by increasing visibility, continuous improvement and evidencing the quality of our educational offerings.

This will be achieved by:

3. Diversifying Our Resources

Given the rapidly changing external landscape within which we operate, as well as emerging needs and the new ways in which people engage with information, we are committed to ensuring we adapt and remain responsive to the needs of all our stakeholders so they can access trusted and valuable information. We will secure funding and engage with new partners to support us to do this.

Page 7

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2023

This will be achieved by:

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.

The IMS Constitution is its governing document.

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 8

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT 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).

Secretariat

The CEO is responsible for the strategic management and day to day running of the organisation. Pay and remuneration reviews are led by the President with support from the Officers.

Risk management

As part of the periodical strategic review, the Trustees identify major risks to the Society and take 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 Committee, chaired by the Treasurer. The Society does not anticipate any factors likely to affect future performance, other than cancellation or disruption of a World Congress. Reserves are designed to cover running costs to ameliorate this potential risk, and insurance is in place to recuperate any potential losses from a World Congress.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

CIO 1156435

Principal address

13 Leechwell Street Totnes Devon TQ9 5SX

Page 9

INTERNATIONAL MENOPAUSE SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

Board of Trustees 2023

Professor Nicholas Panay (UK) -President Dr Ang Seng Bin (SG)-General Secretary Professor Pauline Maki (USA)-Treasurer Professor Rosella Nappi (IT)-President elect Professor Tommaso Simoncini (IT) Dr Sonia Cerdas (CR) Professor Peter Chedraui (ECU) Professor Nicole Jaff (SA) Professor Wendy Wolfman (CAN) Professor Xiangyan Ruan (CH) Professor Amanda Vincent (AU) Professor Amos Pines (IL) Dr Marla Shapiro (CAN) Professor Santiago Palacios (ESP) Ex-officio Members Professor Steven Goldstein (USA)-Immediate Past President Professor Duru Shah (IND)-Chair, Council of Affiliated Menopause Societies

Chief Executive Officer (CEO)

Rebecca Cheshire

Independent Examiner

Haines Watts Chartered Accountants Old Station House Station Approach Swindon Wiltshire SN1 3DU

Approved by order of the board of trustees on 24[th] December 2024. and signed on its behalf by:

................................................................. Nick Panay - President

Page 10

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 2023.

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 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 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

  2. 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

The Institute of Chartered Accountants in England and Wales

Haines Watts Chartered Accountants Old Station House Station Approach Swindon Wiltshire SN1 3DU

Date: 2 January 2025

Page 11

INTERNATIONAL MENOPAUSE SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
World Congress
Investment income
3
Total
EXPENDITURE ON
Charitable activities
5
World Congress
Support costs
IMPART Program
Webinars
EER
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
272,756
-
692
273,448
-
473,356
11,172
38,411
-
522,939
84,940
(164,551)
1,775,498
1,610,947		 Restricted
funds
£
4,999
-
-
4,999
-
-
-
-
-
-
-
4,999
11,147
16,146		 2023
Total
funds
£
277,755
-
692
278,447
-
473,356
11,172
38,411
-
522,939
84,940
(159,552)
1,786,645
1,627,093		 2022
Total
funds
£
262,601
400,886
11,478
674,965
81,025
203,416
83,882
30,853
12,600
411,776
(95,790)
167,399
1,619,246
1,786,645

The notes form part of these financial statements

Page 12

INTERNATIONAL MENOPAUSE SOCIETY

STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023

Notes
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Debtors
12
Cash at bank
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
3,038
1,406,773
1,409,811
316,120
82,627
398,747
(197,611)
201,136
1,610,947
1,610,947		 Restricted
funds
£
-
-
-
-
16,146
16,146
-
16,146
16,146
16,146		 2023
Total
funds
£
3,038
1,406,773
1,409,811
316,120
98,773
414,893
(197,611)
217,282
1,627,093
1,627,093
1,610,947
16,146
1,627,093		 2022
Total
funds
£
3,005
1,136,833
1,139,838
432,279
341,114
773,393
(126,586)
646,807
1,786,645
1,786,645
1,775,498
11,147
1,786,645

The financial statements were approved by the Board of Trustees and authorised for issue on 24[th] December 2024 and were signed on its behalf by:

............................................. Nick Panay - President

The notes form part of these financial statements Page 13

INTERNATIONAL MENOPAUSE SOCIETY

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Dividends received
Net cash used in 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
£
(51,350)
(51,350)
(792)
(190,891)
692
(190,991)
(242,341)
341,114
98,773		 2022
£
(7,196)
(7,196)
(2,785)
-
(2,785)
(9,981)
351,095
341,114

The notes form part of these financial statements

Page 14

INTERNATIONAL MENOPAUSE SOCIETY

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Dividends received
Decrease/(increase) in debtors
Increase in creditors
Net cash used in operations		 2023
£
(159,552)
759
(84,940)
(692)
116,159
76,916
(51,350)		 2022
£
167,399
-
86,047
(11,478)
(341,589)
92,425
(7,196)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/23 Cash flow At 31/12/23
£ £ £
Net cash
Cash at bank 341,114 (242,341) 98,773
341,114 (242,341) 98,773
Total 341,114 (242,341) 98,773

The notes form part of these financial statements

Page 15

INTERNATIONAL MENOPAUSE 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 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 are no significant uncertainties regarding the ability of the charity to continue as a going concern.

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.

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.

Page 16

continued...

INTERNATIONAL MENOPAUSE SOCIETY

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

1. ACCOUNTING POLICIES - continued

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.

2.

DONATIONS AND LEGACIES

Regional meetings
Membership
Educational grants
EER donations
3.
INVESTMENT INCOME
Income from listed investments
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
World Congress		 2023
£
50,000
122,186
100,570
4,999
277,755
2023
£
692
2023
£
-		 2022
£
53,624
102,517
82,713
23,747
262,601
2022
£
11,478
2022
£
400,886

Page 17

continued...

INTERNATIONAL MENOPAUSE SOCIETY

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

5. CHARITABLE ACTIVITIES COSTS

Support costs
IMPART Program
Webinars
SUPPORT COSTS
Support costs		 Direct
Costs
£
-
11,172
38,411
49,583		 Support
costs (see
note 6)
£
473,356
-
-
473,356		 Totals
£
473,356
11,172
38,411
522,939
Other
£
473,356
473,356

6. SUPPORT COSTS

7. 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

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

8. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2023
£
175,422
14,187
3,301
192,910		 2022
£
148,736
11,472
2,304
162,512

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

2023 2022
Administrative 3 3

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

One employee received emoluments between £100,000-£110,000 during the year. (2023 one employee received emoluments between £90,000-£99,999)

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 £101,364 (2022: £99,134.

Page 18

continued...

INTERNATIONAL MENOPAUSE SOCIETY

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

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
238,854
Charitable activities
World Congress
400,886
Investment income
11,478
Total
651,218
EXPENDITURE ON
Charitable activities
World Congress
81,025
Support costs
203,416
IMPART Program
83,882
Webinars
30,853
EER
-
Total
399,176
Net gains/(losses) on investments
(95,790)
NET INCOME
156,252
RECONCILIATION OF FUNDS
Total funds brought forward
1,619,246
TOTAL FUNDS CARRIED FORWARD
1,775,498		 Restricted
funds
£
23,747
-
-
23,747
-
-
-
-
12,600
12,600
-
11,147
-
11,147		 Total
funds
£
262,601
400,886
11,478
674,965
81,025
203,416
83,882
30,853
12,600
411,776
(95,790)
167,399
1,619,246
1,786,645

Page 19

continued...

INTERNATIONAL MENOPAUSE SOCIETY

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

10. TANGIBLE FIXED ASSETS

Fixtures
and
fittings
£
COST
At 1 January 2023
362
Additions
-
At 31 December 2023
362
DEPRECIATION
At 1 January 2023
130
Charge for year
47
At 31 December 2023
177
NET BOOK VALUE
At 31 December 2023
185
At 31 December 2022
232
11.
FIXED ASSET INVESTMENTS
Listed investments
Cash
Additional information as follows:
MARKET VALUE
At 1 January 2023
Revaluations/income
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Computer
equipment
£
4,754
792
5,546
1,981
712
2,693
2,853
2,773
2023
£
1,215,882
190,891
1,406,773		 Totals
£
5,116
792
5,908
2,111
759
2,870
3,038
3,005
2022
£
1,136,833
-
1,136,833
Listed
investments
£
1,136,833
79,049
1,215,882
1,215,882
1,136,833

At the year-end all listed investments represent unit trusts held by Shroders.

Page 20

continued...

INTERNATIONAL MENOPAUSE SOCIETY

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

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Taxation and social security
Other creditors		 2023
£
252,767
63,353
316,120
2023
£
6,333
191,278
197,611		 2022
£
429,946
2,333
432,279
2022
£
3,976
122,610
126,586

Included in accruals and deferred income above is £121,847 (2022 £58,301) of deferred income. All deferred income is released in the following year.

14. MOVEMENT IN FUNDS

Unrestricted funds
General fund
IMPART Program - On-line training
Restricted funds
EER
TOTAL FUNDS		 At 1/1/23
£
1,707,498
68,000
1,775,498
11,147
1,786,645		 Net
movement
in funds
£
(153,379)
(11,172)
(164,551)
4,999
(159,552)		 At
31/12/23
£
1,554,119
56,828
1,610,947
16,146
1,627,093

Page 21

continued...

INTERNATIONAL MENOPAUSE 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:

Unrestricted funds
General fund
IMPART Program - On-line training
Restricted funds
EER
TOTAL FUNDS		 Incoming
resources
£
273,448
-
273,448
4,999
278,447		 Resources
expended
£
(511,767)
(11,172)
(522,939)
-
(522,939)		 Gains and
Movement
losses
in funds
£
£
84,940
(153,379)
-
(11,172)
84,940
(164,551)
-
4,999
84,940
(159,552)

Comparatives for movement in funds

Unrestricted funds
General fund
IMPART Program - On-line training
Restricted funds
EER
TOTAL FUNDS		 At 1/1/22
£
1,476,246
143,000
1,619,246
-
1,619,246		 Net
movement
in funds
£
231,252
(75,000)
156,252
11,147
167,399		 At
31/12/22
£
1,707,498
68,000
1,775,498
11,147
1,786,645

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

Unrestricted funds
General fund
IMPART Program - On-line training
Restricted funds
EER
TOTAL FUNDS		 Incoming
resources
£
651,218
-
651,218
23,747
674,965		 Resources
expended
£
(324,176)
(75,000)
(399,176)
(12,600)
(411,776)		 Gains and
Movement
losses
in funds
£
£
(95,790)
231,252
-
(75,000)
(95,790)
156,252
-
11,147
(95,790)
167,399

Page 22

continued...

INTERNATIONAL MENOPAUSE SOCIETY

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

14. MOVEMENT IN FUNDS - continued

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.

EER - Endowment for Education and Research

The IMS has a well-established history of funding endeavours that promote education and research. This has included the Research Bursary, World Congress Travel Bursaries, and monetary prizes for IMS Awards. The Board of Directors recognizes the important role that funding plays in supporting vital initiatives to increase awareness and knowledge of menopause and midlife women's health. We also recognize that we are in a position to enhance our contribution to the field by generating and awarding more funding.

Therefore, the IMS Endowment for Education and Research (EER) was established on 4th August 2022, with the Young Scholars Bursary for the 18th World Congress on Menopause in Lisbon, Portugal as the first funded project. The EER is a vehicle through which the IMS provides funding for initiatives that support the delivery of the 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.

In addition to the IMS's own financial contribution to the EER, we aim to secure unrestricted funds via a variety of sources, including trusts and foundations grants, individual and major donor contributions, and fundraising campaigns. In addition to generating funds, this brings broader opportunities to grow support for our mission and build partnerships.

15. RELATED PARTY DISCLOSURES

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

Page 23