Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
**Charity No. 1159476**
**Trustees' Report and Unaudited Accounts**
**31 March 2025**
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA Contents**
||Pages|
|---|---|
|Trustees' Annual Report|2 to 8|
|Independent Examiner's Report|9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes to the Accounts|12 to 19|
|Statement of Cash flows|20|
|Detailed Statement of Financial Activities|21 to 22|
Page 1
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
**Trustees Annual Report**
British Society For Spondyloarthritis
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2025.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity No. 1159476**
## **Principal Office**
C/O Professor JK Gaffney
Dept of Rheumatology, Level 2 Outpatients East
Norfolk and Norwich University Hospital Colney Lane, Norwich NR4 7UY
## **Trustees**
The following trustees served during the year:
A. Bennett
J.K. Gaffney H. Marzo-Ortega R. Sengupta S. Siebert D.R.A. Webb
## **Accountants**
Andrew Parker Associates Ltd Unit 7
Beech Avenue Business Park Beech Avenue, Taverham Norwich NR8 6HW
Page 2
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
**Trustees Annual Report**
## OBJECTIVES AND ACTIVITIES
The Trustees present their annual report together with the financial statements of the British Society for Spondyloarthritis (the charity) for the period ended 31 March 2025. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## Chair's report 2025
BRITSpA-supported national research studies are under development and the charity continues to collaborate with a partner charity and academic groups to promote a range of studies. We were delighted to see the progress of the BAxSIC study looking at the impact of the delay of diagnosis in the inception cohort of axSpA patients. Membership continues to increase steadily and includes the full range of health care professionals and scientists committed to the advancement of knowledge and treatment of spondyloarthritis. The 2024 Annual Scientific meeting was well-attended and attracted very positive feedback. BRITSpA continues to support Travelling Fellowships for members to facilitate sharing of best practice in axSpA. BRITSpA has also established a regular education programme for healthcare professionals in the UK.
Prof Raj Sengupta, Chair of Trustees
## OBJECTIVES OF THE CHARITY
The objectives of the charity are to promote the education of health care specialists and the public in relation to all aspects of the spondyloarthritis group of diseases including axial spondyloarthritis, psoriatic arthritis, reactive arthritis, arthritis related to inflammatory bowel disease and undifferentiated peripheral arthritis, to share information and skills among different medical disciplines that deal with these types of conditions and related disorders and to enhance research, diagnosis and treatment of spondyloarthritis for the benefit of those suffering from these conditions.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## ACTIVITIES FOR ACHIEVING OBJECTIVES
The principal activities for achieving these objectives are:
- Provision of multidisciplinary educational meetings
- Establishment and advocacy of best practice for clinicians
- Sharing of information and skills among different medical disciplines
- Facilitation of research into aspects of spondyloarthritis
- Improvement of diagnosis and treatment of spondyloarthritis for benefit of those suffering from these
- conditions.
- Conform to GDPR regulations
- Broaden Executive Committee to reflect membership and broaden expertise
- Extend representation of BRITSpA and axSpA on professional bodies.
Page 3
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
**Trustees Annual Report**
MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT FOR THE PERIOD 2024-25
## (i) Provision of multidisciplinary educational meetings
The two-day Annual Scientific Meeting's programme is designed to benefit and be accessible to all members across their various professional roles. A further separate educational day has been established, the first of which to take place 14th May 2025 at Goodenough College, London.
(ii) Establishment and advocacy of best practice for clinicians
The Annual Scientific meeting allows the sharing of best practice. Delegates are able to interact and network with the lecturers via Q&A. The latest developments and guidelines are shared with the membership.
(iii) Sharing of skills among the different medical disciplines Current membership continues to grow, standing currently at 207, following a revalidation exercise, with approximately equal numbers of Rheumatology Consultants and allied health professionals. The Travelling Fellowship grant is available for all members to visit other centres to share best practice.
(iv) Facilitation of research into aspects of spondyloarthritis BRITSpA members are contacted regularly by email and website notifications regarding studies of interest.
v) Improvement of diagnosis and treatment of spondyloarthritis All of the activities of BRITSpA are aimed at improving the recognition of SpA amongst clinicians and allied health professionals, and refining and understanding current and emerging treatment modalities, particularly with a view to reducing the delay to diagnosis. Guest speakers at the Annual Scientific Meeting share expertise from across the UK and Europe.
## vi) Conform to GDPR regulations
The charity’s policy is shown on the website. Members are advised regularly how to request deletion of their details. A revalidation process took place early in 2025 to update the membership and conform to GDPR.
(vii) Broaden Executive Committee to reflect membership and broaden expertise The Executive Committee currently comprises eight Rheumatology Consultants, one scientist, and one physiotherapist. A further AHP role is being advertised.
(viii) Extend representation of BRITSpA and axSpA on professional bodies
Page 4
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
**Trustees Annual Report**
Executive committee members sit on:
- BSR Heberden Committee
- BSR PsA Treatment Guideline group
- BSR National Early inflammatory arthritis audit working project group
- BSR Research Engagement working group
- Executive Committee of Assessment of Spondyloarthritis International Society (ASAS).
- BSR Biologics Guidelines Group
- Associate editor Rheumatology (Oxford) and Clinical Therapeutics (Elsevier)
- Group for Research and Assessment of Psoriasis and Psoriatic Arthritis (GRAPPA)
- British Psoriatic Arthritis Consortium (BritPACT) member
- British Society of Lifestyle Medicine
- Versus Arthritis Research Advisory Group for Adult Inflammatory Arthritis
- Advisory Board ASAS Executive Committee
- EULAR Advocacy Communications Subcommittee
- EULAR working party (MSK imaging)
- EULAR working parties (PsA treatment guidances, PtC transition from Pso to PsA)
- GRAPPA global steering group,
- Trustee of Brit-PACT
- Fellow of the Royal Society of Medicine NIHR UK MSK Translational Research Collaboration - ASAS MRI working group
- NASS medical advisory board;
- Arthritis and Musculoskeletal Alliance (ARMA)
- Member of ASAS Executive Committee
- Convenor EULAR working party D2M/TR PsA
- NICE TA committees on new SpA biologics / small molecules
- Member of Health Literacy UK Group (2023-)
- Fellow of the Higher Education Academy
- NRAS member- Scottish Society for Rheumatology
- Medical Advisor to ASIF
- Medical Advisor to SAA
- Executive Committee SpA International Congress - Member of Outcome Measures in Rheumatology Equity Working Group - American College of Rheumatology member
Page 5
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
## **Trustees Annual Report**
Structure, governance and management CONSTITUTION The principal objective of the charity is to promote the education of the public and health care specialists in relation to all aspects of the spondyloarthritis group of diseases, and to share information and skills among different medical disciplines. The registered charity, number 1159476, is constituted under a Trust deed dated 3rd December 2014. The British Society for Spondyloarthritis (BRITSpA) was set up as a charitable Trust by five of the current Trustees who are also founder members of the Executive Committee governing the activities of the Trust.
The Trust actively fundraises. In the first instance this is mainly through approaches to pharmaceutical companies with an interest in advancing knowledge of spondyloarthritis. There is a donate button the charity website. The risk of potential conflicts of interest has been acknowledged from the inception of BRITSpA; there is no representation of pharmaceutical companies or other potential donors on the Executive Committee and the measures taken to ensure that all funding and expenditure are transparent and in line with the society’s charitable status and objectives and set out in the financial report below.
The Trustees and Executive Committee have met quarterly since the charity's inception, together with regular minuted teleconferences and e- meetings. The Executive Committee has two in-person meetings annually and 6-9 Teams meetings. Any practical changes to the charity bylaws are circulated prior to the AGM and voted upon by the attending membership. All Trustees give their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in the accounts. Neither the Trust nor any of the Trustees have interests with the pharmaceutical industry but any such interests would be disclosed. Members of the Executive Committee (EC) were affirmed. At the Trustees’ meetings, the broad strategy and areas of activity for the charity and plans for research, education and links with other professional and patient groups are agreed. The day to day administration of the charity’s activities is managed by the Executive Committee members, assisted by the administrator.
METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the charity Bylaws, which are published on the BRITSpA website.
## ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Executive Committee is responsible for overall policy and direction of BRITSpA, and delegates responsibility for day-to-day operations to the administrator. Sub-committees are formed for separate research projects, as applicable. All the Executive Committee will be eligible for re-election, with no more than half of the Executive Committee to be changed at one time.
## EMPLOYEES OF THE CHARITY
BRITSpA employs a part-time administrator (appointed 7th January 2015), originally for three days a week: this role was reduced to one day a week from May 2020, then reviewed and increased to two days a week from March 2021 until the present day.
MEMBERSHIP AND LINKS WITH RELATED PROFESSIONAL GROUPS
Recruitment to membership of BRITSpA continues to be successful with a current membership of 209 including Rheumatologists, both Consultants and trainees, nurses, radiologists, physiotherapists and occupational therapists, scientists, Research Fellows, epidemiologists, chiropractors and general practitioners with an established interest.
We maintain our close relationship with patient-centred charity National Ankylosing Spondylitis Society (NASS), and count the CEO and three other staff among our membership. BRITSpA EC members remain as trustees and/or medical advisors to NASS.
Page 6
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
**Trustees Annual Report**
## **FINANCIAL REVIEW**
## GOING CONCERN
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, with a minimum balance of £5,000.
The Trustees have considered the Charity's position at the time of signing the financial statements, and in particular the current issues caused by the continuing Covid-19 pandemic and its impact on the Charity and the wider economy. The administrator's working hours have been temporarily reduced.
Based on this, the Trustees have concluded that they have a reasonable expectation that the Charity will have adequate resources to continue in operational existence for the foreseeable future, and the date of signing these financial statements, they continue to adopt the going concern basis of accounting in preparing these financial statements.
## RESERVES POLICY
The Treasurer continues to be successful in attracting funding for the Annual Scientific Meetings. Following discussion at the 2022 AGM, a decision was made for member delegates to make nominal contributions to the cost of the meeting by means of delegate fees.
Future options for core funding are continuously explored and are debated during the annual general meeting.
The Trustees have set a reserves policy of a minimum balance of £5,000.
Total unrestricted funds at 31 March 2025 amounted to £51,175 (2024: £36,052 ). Restricted funds amounted to £2,669 (2024: £5,294). Restricted funds are in respect of Travelling Fellowship funding to provide additional training for members, and a donation to fund medals.
## **PLANS FOR FUTURE PERIODS**
The charity’s main focus will be to progress and develop opportunities for members to engage in research, in order to continue share knowledge with regard to all aspects of the spondyloarthritis group of diseases. An annual Educational meeting has been established with meetings organised for May 2025 and 2026.
## **Statement of trustees' responsibilities in relation to the financial statements**
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 7
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
## **Trustees Annual Report**
The charity Trustees are responsible for preparing a Trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles of the Charities SORP (FRS102);
- Make judgements and accounting estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards (FRS102) have been followed, subject to any material departures disclosed and explained in the financial statements; - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
R. Sengupta Trustee 12 December 2025
Page 8
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA Independent Examiners Report**
## **Independent Examiner's Report to the trustees of BRITSpA**
I report to the trustees on my examination of the financial statements of BRITSpA for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I can 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:
- the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Andrew Parker ACCA Andrew Parker Associates Ltd
Unit 7
Beech Avenue Business Park
Beech Avenue, Taverham
Norwich
NR8 6HW
12 December 2025
Page 9
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
## **Statement of Financial Activities**
## **for the year ended 31 March 2025**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
3
Other trading activities
4
**Total**
**Expenditure on:**
Charitable activities
5
Other
6
**Total**
Net gains on investments
**Net income**
7
Transfers between funds
**Net income before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|||||
|---|---|---|---|---|
||**Unrestricted**
**funds**|**Restricted**
**funds**|**Total funds**|**Total funds**|
||**2025**|**2025**|**2025**|**2024**|
||**£**|**£**|**£**|**£**|
||||||
||97,567|-|97,567|62,550|
||300|-|300|-|
||97,867|-|97,867|62,550|
||||||
||58,323|2,625|60,948|40,218|
||24,421|-|24,421|17,243|
||82,744|2,625|85,369|57,461|
||-|-|-|-|
||15,123|(2,625)|12,498|5,089|
||-|-|-|-|
||15,123|(2,625)|12,498|5,089|
||||||
||15,123|(2,625)|12,498|5,089|
||||||
||36,052|5,294|41,346|36,257|
||51,175|2,669|53,844|41,346|
||||||
||||||
||||||
Page 10
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
**Balance Sheet**
## **at 31 March 2025**
|**at 31 March 2025**
**BRITSpA**
**Balance Sheet**
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D||||
|---|---|---|---|
|**Charity No. 1159476**||**2025**|**2024**|
|||**£**|**£**|
|**Fixed assets**||||
|Tangible assets|9|633|144|
|||633|144|
|**Current assets**||||
|Debtors|10|179|792|
|Cash at bank and in hand||54,530|41,538|
|||54,709|42,330|
|**Creditors:**Amount falling due within one year|11|(1,498)|(1,128)|
|**Net current assets**||53,211|41,202|
|**Total assets less current liabilities**||53,844|41,346|
|**Net assets excluding pension asset or liability**||53,844|41,346|
|**Total net assets**||53,844|41,346|
|**The funds of the charity**||||
|**Restricted funds**|12|||
|Restricted income funds||2,669|5,294|
|||2,669|5,294|
|**Unrestricted funds**|12|||
|General funds||51,175|36,052|
|||51,175|36,052|
|**Reserves**|12|||
|**Total funds**||53,844|41,346|
Approved by the trustees on 12 December 2025
And signed on their behalf by:
R. Sengupta Trustee 12 December 2025
Page 11
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
**Notes to the Accounts**
## **for the year ended 31 March 2025**
- 1 **Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Change in basis of accounting or to previous accounts**
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
## **Fund accounting**
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes.
- Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
- Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 12
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
**Notes to the Accounts**
## **Expenditure**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Tangible fixed assets and depreciation**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Office equipment 25% Reducing balance
## **Freehold investment property**
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
## **Stocks**
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 13
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
**Notes to the Accounts**
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other 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 due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Research and development**
Expenditure on research and development is written off in the year in which it is incurred.
## **Foreign currencies**
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure.
## **Leased assets**
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
## **Pension costs**
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 14
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
## **Notes to the Accounts**
## 2 **Statement of Financial Activities - prior year**
|**Income and endowments from:**
Donations and legacies
**Total**
**Expenditure on:**
Charitable activities
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
3
**Income from donations and legacies**
Donations & sponsorship
4
**Income from other trading activities**
Sundry income|**Unrestricted**
**funds**
**2024**
**£**
52,550
52,550
37,167
3,597
40,764
11,786
11,786
11,786
24,266
36,052
**Unrestricted**
**£**
97,567
97,567
**Unrestricted**
**£**
300
300|**Restricted**
**funds**
**2024**
**£**
10,000
10,000
2,971
13,726
16,697
(6,697)
(6,697)
(6,697)
11,991
5,294
**Total**
**2025**
**£**
97,567
97,567
**Total**
**2025**
**£**
300
300|**Total funds**
**2024**
**£**
62,550|
|---|---|---|---|
||||62,550
40,138
17,323|
||||57,461|
||||5,089|
||||5,089|
||||5,089
36,257|
||||41,346|
||||**Total**
**2024**
**£**
62,550|
||||62,550|
||||**Total**
**2024**
**£**
-|
||||-|
Page 15
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
## **BRITSpA**
## **Notes to the Accounts**
## 5 **Expenditure on charitable activities**
|_Expenditure on charitable_
_activities_
Event organisation
Travelling
_Governance costs_
6
**Other expenditure**
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
7
**Net income before transfers**
This is stated after charging:
Depreciation of owned fixed assets
8
**Staff costs**
Salaries and wages
Pension costs|**Unrestricted**
**£**
58,323
-
-
58,323|**Restricted**
**£**
-
2,625
-
2,625
**Unrestricted**
**£**
14,736
1,881
521
211
5,549
1,523
24,421
**2025**
**£**
211
**2025**
14,176
560
14,736|**Total**
**2025**
**£**
58,323
2,625
-
60,948
**Total**
**2025**
**£**
14,736
1,881
521
211
5,549
1,523
24,421|**Total**
**2024**
**£**
37,167
2,971
80|
|---|---|---|---|---|
|||||40,218|
|||||**Total**
**2024**
**£**
13,730
958
259
202
316
1,778|
|||||17,243|
|||||**2024**
**£**
48
**2024**
13,086
560|
|||||13,646|
No employee received emoluments in excess of £60,000.
Page 16
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
## **Notes to the Accounts**
## 9 **Tangible fixed assets**
|**Cost or revaluation**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation and**
**impairment**
At 1 April 2024
Depreciation charge for the
year
At 31 March 2025
**Net book values**
At 31 March 2025
At 31 March 2024
10 **Debtors**
Other debtors
11 **Creditors:**
amounts falling due within one year
Other taxes and social security
Accruals|**2025**
**£**
179
179
**2025**
**£**
370|**Office**
**equipment**
**£**
539
700
1,239
395
211
606
633
144|**Total**
**£**
539
700|
|---|---|---|---|
||||1,239|
||||395
211|
||||606|
||||633|
||||144|
||||**2024**
**£**
792|
||||792|
||||**2024**
**£**
-|
||1,128||1,128|
||1,498||1,128|
Page 17
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
## **Notes to the Accounts**
## 12 **Movement in funds**
|**Restricted funds:**
**Restricted income funds:**
_Total_
**Unrestricted funds:**
**General funds**
**Total funds**
13 **Analysis of net assets between funds**
Fixed assets
Net current assets
14 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**At 1 April**
**2024**
5,427
(133)
5,294
36,052
41,346|**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
-
-
-
97,867
97,867
**At 1 April**
**2024**
**£**|**Resources**
**expended**
**£**
(2,758)
133
(2,625)
(82,744)
(85,369)
**Unrestricted**
**funds**
**£**
633
53,211
53,844
**Cash flows**
**£**|**At 31**
**March**
**2025**
**£**
2,669
-|
|---|---|---|---|---|
|||||2,669|
|||||51,175|
|||||53,844|
|||||**Total**
**£**
633
53,211|
|||||53,844|
|||||**At 31**
**March**
**2025**
**£**|
|||41,538|12,992|54,530|
|||41,538
41,538|12,992
12,992|54,530|
|||||54,530|
||||||
Page 18
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
**Notes to the Accounts**
## 15 **Commitments**
## _**Operating lease commitments**_
Annual commitments under non-cancellable operating leases are as follows:
||**2025**|**2025**|**2024**|**2024**|
|---|---|---|---|---|
||**Land and**||**Land and**||
|||**Other**||**Other**|
||**buildings**||**buildings**||
||**£**|**£**|**£**|**£**|
|Operating leases with expiry date:|||||
|**_Pension commitments_**|||||
|||**2025**||**2024**|
|||**£**||**£**|
|The pension cost charge to the charity|||||
|amounted to:||560||560|
Page 19
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D **BRITSpA**
**Statement of Cash flows**
## **for the year ended 31 March 2025**
|**Cash flows from operating activities**
**Net income per Statement of Financial Activities**
**Adjustments for:**
Depreciation of property, plant and equipment
Loss on disposal of tangible fixed assets
Decrease in trade and other receivables
Increase in trade and other payables
**Net cash provided by operating activities**
**Cash flows from investing activities**
Payments for property, plant and equipment
**Net cash used in investing activities**
**Net cash from financing activities**
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**|**2025**
**£**
12,498
211
-
613
370
13,692
(700)
(700)
-
12,992
41,538
54,530|**2024**
**£**
5,089
48
154
2,411
156|
|---|---|---|
|||7,858
-|
|||-|
||||
|||-|
||||
|||7,858|
|||33,680|
|||41,538|
||||
|**Components of cash and cash equivalents**|||
|Cash and bank balances|54,530|41,538|
||||
||54,530|41,538|
Page 20
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
**BRITSpA**
## **Detailed Statement of Financial Activities**
## **for the year ended 31 March 2025**
|**Income and endowments from:**
Donations and legacies
Donations & sponsorship
Other trading activities
Sundry income
**Total income and endowments**
**Expenditure on:**
Charitable activities
Event organisation
Travelling
Governance costs
**Total of expenditure on charitable**
**activities**
Employee costs
Salaries/wages
Pension costs
Staff welfare
Motor and travel costs
Travel and subsistence
Premises costs
Rent
General administrative costs,
including depreciation and
amortisation
Depreciation of Office
equipment
Loss on disposal of tangible fixed
assets
Bank charges
Software, IT support and related
costs|**Unrestricted**
**funds**
**2025**
**£**
97,567|**Restricted**
**funds**
**2025**
**£**
-|**Total funds**
**2025**
**£**
97,567|**Total funds**
**2024**
**£**
62,550|
|---|---|---|---|---|
||97,567|-|97,567|62,550|
||300|-|300|-|
||300|-|300|-|
||97,867
58,323
-|-
-
2,625|97,867
58,323
2,625|62,550
37,167
2,971|
||58,323|2,625|60,948|40,138|
||-|-|-|80|
||-|-|-|80|
||58,323
14,176
560
-|2,625
-
-
-|60,948
14,176
560
-|40,218
13,086
560
84|
||14,736|-|14,736|13,730|
||1,881|-|1,881|958|
||1,881|-|1,881|958|
||521|-|521|259|
||521|-|521|259|
||211
-
103
334|-
-
-
-|211
-
103
334|48
154
105
200|
Page 21
Docusign Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F39650D
## **BRITSpA**
## **Detailed Statement of Financial Activities**
|**BRITSpA**
**Detailed Statement of Financial Activities**
Envelope ID: A42F3C34-58B8-4ECF-ABB1-523D8F3965|0D||||
|---|---|---|---|---|
|Stationery and printing
Subscriptions
Sundry expenses
Legal and professional costs
Accountancy and bookkeeping
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**
**Net income before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|4,395
180
537|-
-
-|4,395
180
537|11
-
-|
||5,760|-|5,760|518|
||1,523|-|1,523|1,778|
||1,523|-|1,523|1,778|
||||||
||24,421|-|24,421|17,243|
||82,744
-|2,625
-|85,369
-|57,461
-|
||15,123|(2,625)|12,498|5,089|
||15,123
-|(2,625)|12,498
-|5,089
-|
|||-|||
||||||
||15,123|(2,625)|12,498|5,089|
||||41,346|36,257|
||36,052|5,294|||
||||||
||51,175|2,669|53,844|41,346|
Page 22