REGISTERED COMPANY NUMBER.. 10056475 (Ei IiglAiid and W42les)
REGISTERED CIIARITY NUMBEI R: 1167764
Report of tlie Trustees and
Uiiaudited Finaneial Stalemeiils foi. (he Year Fnded 31 Mai'ch 2024
foi"
Liverpool Medicgl Students, Soeiety
Kinsella Clarke Liiiiited
61 Stanley Iload
Booile
Merseyside
L20 7BZ

LiiTei"pool Medical Studeiits, Society
Contents of the fi iiianeial Statenieiits
foi. tlie Ycai. Endcd 31 MAI'ch 2024
Pxge
Repoi't of the Trustees
Iiidepeiideiil E+ xamiiiei s Repoi'l
Stlltenienl of Finaneial Aelivities
Statemeilt of Finailcial Positioii
Notes to tlie Finaiici81 Statements
10 10 14
Det￿lled Slateinent of Fiiittiicial Activities

Livei'pool Medical Students, Society
Report ofthe Trustee5
ror tlie Yeai. Eiided 31 Mai'eli 2024
The ts-LlStees who al'e also diirctors of the chai'ity foi. the purposes of the Coinpanies Act 2006. pi'esenl tl)eii' report willi
the f inaiici81 statenieiits OF tlie cliai'ity foi. the year ended I l March 2024. Tlie trustees liave adopted Ilie pi'ovisioiis (if
Accountiiig and Repotting by Cliarities: Stateinent of Recojnmended Practice applicable to chai'ities pi'epariiig tl)eii'
accouiils iii accoi'daiice with the fiiiancial Reporting Slaiidayd applicable iii the UIC aiid Republic of Irelaiid (FRS 102)
(effective l January 2019).
Page I

Livei'pool Medical Studen15' Society
Repoi'l of tlie Ti'iJ5tees
foi- tlie Yeai. Elided 31 MAt'el1 2024
OBJE+ CTIVES AND ACTIVITIES
Sti'uctiii'ey govei'iiaiicc aiid Inaiiagetnent
Natui'e of Govei-iiii)g Dociiii)ent and Iiow the Charity is Constituted
'I"he Livci'pool Medical Sttidents, Society is a cliai'itable student%, Society, whicli is devoted aiid Colni￿]tted Lo tlie
acadeniie, welfai'e, social. exlra-cui'i'lCLilar. developiiieiil<il and chai'ilable giving needs of its Meinbei's. It pi'ovidcs tli8
sli'iicliiit and platfoiiii foi, all Mcilical Students stiidying iii Ilie Mei'seyside area to becoiiie involvcd iii a variety of
actlvkties aiid Olltlets, allowing Iliem lo enricli their lives ¢ll)d becoinc divei%e and well-l'ounded p¢opl¢.
Tlie So¢icty is a C1181'11able Coinpany limited by Guai?ntee. witlTroiit shal'e capilal, and govei'iied by Ai'ticles of
Association and a Meinoi'aiidiiin. It was incoi-porated on l Oth Mai'cli 2016, and i'egistei'ed by tl)e Cliai'ity Coiiiinission
foi. Englaiid aiid Wales on 21 st June 2016.
'riiese aiticles slate that-
l. Tlic Livei'pool Medical Students, Society is col￿nItted to the acadeinic, welfai-e, social, extra-Guri'iculai',
developJ)ieiital and charitable giving iieeds of ils Members. I"hese Aiticles have b¢eii ci'ealed to give tlie Ti'ustees
8utlioi.ity lo Inanage the affairs of the Society in a rnal￿er appi'opriate to those esiablished iii this docuineiit and tlie ethos
of tlie Society,
11. Wheii the Trustees set to enacl constitiitional cliai)ge to Ihc Inake-iip of the Society's governance or structure, IL shall
do so appi'opi'iately aiid pi'operly and with consideration to it5 Meiiibers. ii)ierests al all Liiiies.
111, The Society sl)all not affiliate lo any political party or religioiis organisation.
IV. Tlie Society einbrace8 aiid endorses the proleclions, entitleii)enls and provisioiis of the Equality Act 2010 iii all
So¢i¢l'y biisin¢s5 and imatters.
V, Tlic Society endorses Ihe UK Govei'nineiit's & Cl)ief Medical Officers, guideliiies and i'ecoinineiidatioiis foi.
I'esponsible alcohol Loiisiimplion in all of its eveiits aiid activities.
Vl. The Society shall encolirage social integrntion at all levels. The Officers, Truslees, and Pull co1￿]71ttce sliall
eiicoui'agc incliisively and represenlatioii of all Meinbers at all tiines.
In addilioii, the Objectives of the Socieiy, approved by Ilie Charity Coiiunission for EJ)glaiid and Wales, are..
I , The pi'olection, advanceiiient, fiiitheiynce and piM)snotion of the iiiterests of ils Mei)Ibei's and Aluinni Associaies 41 all
titiie5'
2. '1'he tuithei'ing and piY)Inotion of acadeinic excellence amoi)g its Meinbers tlii'oiigli the l)olding of I'egulai. teaching
pi'ogi-ammes gild the promotion of aCade1￿le events, rcvision lecliires, and othei. siich seiiiinai's, pi'esenlalioi)s aiid
tuloi'ials.
3. The eiicoiirageinent and oi'ganisation of fundrdisuig for local and natiODal iEgistei'ed charities.
4. Providing pastoi'al support lo protect, thrther, advance and proinote the physical, iiieiital, eillotioiial aiid
develoi)niental wellbeing and welfai'e of tts Meii)bers at all linies.
5. The encoiirageinent of social integi'ation and eamardderie omong its Meinbers in the organisation of a I'hnge of
ciirriculai. ai)d exli'acuii'icular activities ¢liid events of a .wcial, sporling, acadeniic, vocational. cultui'al, cliai'itable aiid
pi'ofessioiial nature.
6. Tlie holding of nieetings al which the mordl, illtellectual. vocational, teGlmical and al'listic intei'ests ot its Meiiibei's al'e
encoui'aged.
7. Tlie encoui?gement and organisatTOli of sporting activities ainong its Meiiibei's.
8. Tlie disseimin8tion of infoi'ination Itgarding the Society and its Meiiibers tly'ougl) tlie publicatioii of an official Society
jourii81, namely ' Sphinctei and Iliroiigh the iise of ali 0￿1ClaI Society inteinet website, and appi'opriale social iiiedia,
Page 2

Livei'po()l Medical Students, Society
Report of the TTU5tees
foi. tlle Year li iided 31 Ma I'eli 2024
Govei'iiance The Boai'd of Ti'uslees
Oiir Boai'd of Ti'iistees is responsible for ei)siiring the organisation I'einaiiis fil for piirp05e, and foi. 5ettiiig the sti'ategy or
the orL?anisatioi) in consultation with the Officers of the Society and the Full Conunittee. It also appi'oves all chaiiges to
Ilie Ai'ticles of Association, Ihc aiinual trustees, repoit aiid accounts (this docuineiit), and Iiionitors the Society's activity,
throligh the 0￿]Ce].s.
The Boai'd sliall ireet at least once pei. year aiid be I'esponsible for ovei'seeing the governaiice aiid adiniiiisti'alioii ot the
Society ¢iiid iiiay exei-cise all tlie poweis of the Society. A Meeling of tlie TI￿SteeS at wliich a quoruii) is pi'eseiil, iii
accoi'dai)ce witli Ai'licle I l. I I, Inay exci'cise all powers exei-cisable by the 'fi'ustees. Thc Ti'uslee5 shall defei. to tlie
Officers of the SocieLy With biisiness relating to the day-to-day I'iiimiiig of Ilie Society. Tlie Officei'8 sliall ddvise tlie
Boai'd I'egarding Society conv¢ntioii not codified iii these ￿tiCleS, I'elating to every Inattei. I'eqliested.
The Meinbership of tlie Boai'd of Trustees is defiiled as follows:
At least S ineinbei-s who previoiisly lield, or ciii'i'ently hold stlidenl ii)einbersliip of the Society
One iiieiiibei. iiiusl liave a legal qualification
Onc Ineii)ber will be the ciii-renl l.loiioraiy Life Pi'esident (when in use)
One ineinbei- will be, oi. liave beei). ai) Honoraiy President of Ilie society
At least 3 ineinbers will liave pi'eviously been, or curi'ently air Officeis or Ineinbei's of the society
A staff meinber from the Liverpool School of Medicine, noiminated by tlie University.
Governance - The Officers of th¢ Soci¢ty
'riii'ee student OffiLei's riiii tlie day-to-day biisiness of tlie Society, The President, The Tieasurei, aiid Tlie Seci'elaiy.
Tlie5e al'e Ilie de-lacto execlilives of the Chai'ity and Iwn all aclivilies. They ale IEplaced once evely 12 11)oiitlis fol lowii)g
eleclioiis via seci'el bal lol ev¢i'y Mai'ch. We follow the convcntion laid out in the Education Acl 1994 iii that Ihey cg11
sei've a Inaxiiniiin of two teiins of office. The Otficeis are affoi'ded considerdble delegated powers by Ilie Ti'ustees lo
carl'y out their diities effectively, and report back to Ihein regularly, as duly constituted iii Il)e Ai'Licles of AssociatlOLI.
Governaiice - The Full Coixinittee
Filial ly, The FLIII Coiminittee of the Socfftety coi)sisls of 37 Inembei's who are led by tlie Officei3 and cai'iy out a wide
poi'lfolio of I'ole5 Irlated to the woi'kinES and eveiils of the Society.
Goveriiance- A[￿Ual General Meeting (AGM)
The Society's AGM is held each March, wheie all business of the previous year 15 discLissed and saw tlu'ee iiew O￿l¢e1'S
elecl'ed and tlie new Coi)Iinitte¢ Mei)Ibers al'e installed as appi'opi'iale. The Aimlial Genei'al Meeliiig took place oil the
21st of Mai'ch 2024.
Page 3

LivL41'pooI Medical Studeiits, Soeie(y
Rep()rt of tlle Trllstees
for the Ye#i' Ci Jideil 31 Mdi'eh 2024
OBJlli CTIVES AND ACTIVITIES
Cliai'ity objectives aild activities uiiderlal<ei) iii i'elatioii lo tliese objects
'riie Socicly's objeLts al'e the advaiiceinent of educatioi) of Medical Students in Mei'seyside foi. tlie i)ublic benefit by in
particulai. biit not exclusively by..
Tl)e pi'oleclioi), advancemeiit. furthei'aiice ai)d promotion of the iiiteresls of its Meinbei's and AILiiniii Associalcs at all
liine8,'
The tiirthei'iiig and pi'oimolion of acaden)ic excellence ainong ils Meii)bei¥ Il)rough Ihe holdiiig of regiila1' teacl)iiig
i)I'oy'aiiiiiies and the proiiiotion of academic events, revisioii lectUlES, ond otliei. such seininars, pi'eseiilations aiid
tiitoi'ials.
The eiicourageinent aiid orgaiiisation of fiindi'aising for local and national I'egislered cliarities-
Providii)g pastoral siipport lo protect, further. advance and proinote the physic<il, meiilal. einottoiial and developiiienlal
wellbeing and welfare of ils Meinbeis al all lin)es'
The eiicourageliieiit of social integ]'ation aiid cainaradei'i¢ &mong its Members in the oi'gaiiisation of a l'ange of
CLifi'icLilai' and ¢xli'a¢LlI'I'iciilar a¢liviti¢s and events of a social, spoiting, acadciiiic, vocalioi)al, ciiliui'al, chai'ilabl¢ aiid
professioiial natui'e.
Tlie lioldiiig of in¢elitigs at which Ili¢ mordl, int¢llectual, vocational, technical and aitistic int¢resls of its Meinbei's al'e
ei)COLlI'aged,
'rhe eiicoui'ageiii¢iil and oi'ganisation of sporling activities amoiig its, Meinbei's.
The disseniiiiatioii of infortnation regarding the Society and it5 Meiiibers Iliroiigl) the publication of an oificial Society
jOLlI'iial, iiamely 'Spliiiictei and tl)I'oiigh the use of an official Society internet websiie, aiid 8ppI'opI'iale social iiiedia,
Piiblic Beiiefil Slateineiit
'rhe 'l'i'iistees liave given diie considei'alioi) lo Chai'ity Coininission publislicd guidaiice 01) Ilie opei'alioii of tlie public
benefit i'¢quii'¢iii¢iit aiid air satisfied that Ihe charity Ineets these I'equiren)enls.
I.MSS Activities 202312024
Tlie 2021124 fiiiancial year was ai)oiher siicce55fi11 year foi- the LMSS pi'oviding social, acadeinic, pastoral and
chai'ilable oppoi'tunities fur all Ineinbei's, studeiils at tlie University of Livei-pool Scliool of Medicine and Alu1￿111.
We have contiiiiied to collaboi'ate with the Medical Scliool and value oiii- relatioiisliip with and guidance froii) Pi'ofessoi.
Hazel Scott, Il)e Dean of Livei'pool Medical School.
The pi'ocess of tinancial supervisioi) from oiir Truslees ha5 Colltinued. Any spending less thali £250 is appi'oved by oiii,
Olficei's, willi any spendiiig ovei. Iliat amount approved by Ihe Cliair or DepuLy Chaii. of Ilie Bo81'd (Di. Bi'iaii O'coiinoi.
aiid Di. Cathei'ine Lewis-jones).
We hktve niainlained good relations with the Deiiti5t's and Vet's societies as pait of the A550ciation of Cllliical Societies
(AC8) nieelings. We held oiii. anniial Medics vs Dentist5 vs Vets vs Pliysios Cliarity Spoils day iii Oclobei., Il was ali
excelleiit day, raising moDey aDd collecting doi)ations for Soiith Liv¢rpool food Baiik. We hav¢ also ¢ontlliiied to i'aise
work with the Liverpool Guild of Students to provide Bystander Ti7iniiig lo all coniinittee Inenibei3,
Oiice again, Ihe LMSS lias liosled its favourite social evenls iiicluding Siiii)Inei' Ball 2023, Gi?d Ball 2023, Eiid of 4tli
Year Pai'ty. Gl'and RoLiiid. Am)LIAI Ball aiid Midcourse Ball. A iiew social event was added tliis yeai. iii aid of Woi'ld
Ment21 Flealth Day, this was a tiifting woi'kshop and was very well r¢ceived by our meinbers.
Fi'oin an acadeinic pei'spective, in March we hosted our atlliiial Surgical Case Pitsentation Evening, wl)ich Mi.. Johti
Tayloi. kii)dly siippoits us with. We also hosted an Ordinary Meeting with oui. guest speakiiig beiiig Iiol'able Aliiii)ni Di.
Nigel Jones, who spoke about his esteeined careei. in the field of Spoits MeAJicine.
The Society continiied it5 fundraising effort5 tliis year. Oui. Novemb¢r ClTrarity Dinners raised £1181 foi. the Puik Ribbon
Fuuiidalioii aiid £1125 foi. tlie Whilechapel Ceiitre.
Page 4

Livei'pool Medical Studeiits, Society
Report ofthe Ti'ustces
foi. the Ye21- EiidLd 31 Mxrch 2024
OBJEf CTIVEI S AND ACTIVITIES
Oiii. Cliarity Repi-eseiitative5 1'ai5ed an iinpressive £1 1,000 for their choseii chai'ities of Claii'e Hoiise Children's Hospice
aiid KIND T.iveipool. Tliis was acliieved Illi￿li￿} a variety of eveiit4 ovei. the year. includiiig i-affles at ii)any of oiii.
events and also dedicated charity evLiits. Tl)e fii-st of these events was tlie Yoi'k5hire Th]'ee Peaks liike wliich I'aised
£6702.56. This was followed by Sti-iclly Coiiie Dancing wliicl) I'dised £2359. Theii. filial eveiit of Ilie year was a Chai'ity
Cycle whicli L'aised £200. '1"his is 8noth¢i' extreinely successfLEI yeai- foi. Ihe LMSS Cliarities, and we al'e extreiiiely pi-oud I
11)is year we welcomed 157 new iiieinbei's lo tlie society witli gi'eat engageinent froin ineinbei3 aci-oss all five yeai.
gi'oiii)s tliroligliout Iliv yeai.. We welcoined oui. new ineii)bers witli a vai-iety of eveiils diii'iiig Fi'esheis'lW¢lcoille Wcek,
ii)cliidii)E oul. Welcoine Eveniiig and Leclui-e, Livei'pool Bus Toui., Bowling and Biles event and Mentoi. Mentec.
New foi. Ihis yeai. is the creolion of our Elective Fuiid, wl)icli gives grants lo iwo foui'th year 5tLtdeiits. This allows Iliei)I
to coiiiplele an Elective placeineiit in Disaster Medicine, in collaboi'ation with ihe cllai'ily Saviiig Lives Inteiiiational.
I'lie Trustees and Officers have Qonliniied to woi'k together to et]sure the longevity of tlie Society, as well as
sti'eiigtheni11g I'elationships witl) Alu1]￿11 and with the Ui)ivei'sity to #ckiiowledge and honour our history. bLIt also Inove
the LMSS foiivai'ds as it celebrate5 Its 150th aiiiiiversary.
Tlie Flonoi'ai'y Li fe Pi'esidenl was Pi'ofessor Louise Kenny.
STRUCTURE, GOVERNANCE AND MANAGEMINT
Govei'iiiiig docuineiit
TELe cliai'ity is controlled by its governing docuineiit, a deed of trust, and constitLiles & liiniled coinpany> IiLnited by
Liai'ill)lee, a5 defiiied by the Coinpanies Act 2006.
RCI FEI Rli NCC AND AT)MINISTRATIVE DE%TAIL
Registei'ed Compaiiy iiutThbei'
10056475 (Ei)glaiid aiid Wales)
Registered Cl)ai'ity nuniber
1167764
Registei'ed office
l.MSS office, School of Medicine
Cedai. Hoiise
Ayliloii Stiret
Livei'pool
Merseyside
L69 3GB
Trustees
Di. IC Kelly Doctoi. (re8igned 21.5.24)
Di. r J Cole Doctoi.
Pi'ofessor J P Icingsland Doctoi.
Dr A J Booiie Doctoi- (i'esigned 2.6.23)
Dr C M Lewi5-Jones Doctor
Di. T .[ Gi'eeiilialgli Doctoi.
C A Findl(iy Doctoi.
Di. C A Waldon Docloi.
Di. A M Gi'iffin Doctor
Di. B D O'coiinoi. Doctor
Dr J D O'Doniiell Doctor
Di. M J Paton Doctor (i'esigned 23.6.23)
Di- J M Cul'ti3 Doctor (appointed 20.2.24)
Di. J C Doughty Doctor (appointed 20.2.24)
Di. P J Hall Doctor
Di. D P JokLnson Doctoi- (appointed I1.5.23)
Page 5

Livei'pool Medical Studeiits, Society
Rcpoi-t of the Trustees
(or the Year Ei)ded 31 M2rLlI 2024
Rfi FEI11[I NCE AND ADMINISTRATIVE DEITAILS
Coiniiany Seei'etg I'y
E( W Bani)ei'
Iiidei)endeIit Ci xa niiiiei.
Siiiioii Kii-kl)ain FCCA
Kinsella Clai'ke Liinited
61 Stanley Road
Bootle
Mei'seyside
L20 7BZ
Appi'oved by order of Ihe boai'd of kn￿Stees on.......
i.l.l Il.l..ly. ................
and signed oil its behalf by:
Di. B D O'connoi" . Ti"ustee
Page 6

Indei)ekideiit Ei xxiniiiei s Ileport to tlie Ti'ustees ()f
Livei'pool Medical Students, Society
liidepclldei)t examiiier's report to tlie li'iistees of Livei'pool Medical Studeiit5' Society ('the Coiiipaiiy,)
I I'epoi't to tlie chai'ity tiiistees on Iny exatninatioji of the accouiits of the Con)paiiy for Ilie yeai. ended 31 Mai'ch 2024,
Respoiisibilities and basis of report
As Ilie chai'ity's Ii'LlStees ot tlie Coiiipany (and also its diyectois for the piii'poses of coinpany law) you al'e I'espoiisible toi.
tl)e i)i'eiJ8r8tioti of the aeeounls in accoi'dance with the requiieinents of the Companies Act 2006 (Ihe 2006 ALt').
Having satisfied niyself that 11)e accoiints of the CoInpany are not i'eqiitred to be audited undei. Part 16 of tlie 2006 Act
and al'e eligible for indeperLdeiit exaiiiiiialioii, I Irport lll IEspect of niy exaillination of youi. cliai'ity's accouiits as cai'ried
out uiidei. Section 145 of the Chai'iti&s Acl 2011 ('Il)e 2011 Act,). In cai'ryiiig out iiiy exainiiiatioii I l)ave folloived tlie
Dii'cctiuns given by tlie Charity Commission undei. SectTOn 145(5) (b) of the 201 l Act.
Indepen(lent examiner's 5tatemei)t
I liave coJni)leted Iny exaininalion. I confwm that no inatters l)ave conie to niy atteiition in coiinectlOT) Witli Ilie
examiiiation Eiving IMe calise to believe:
accountinL) i'ecords wei'e not kept in respect of the Company I'equired by Seclion 386 of Ilie 2006 Act. oi,
tlie accoiiiils do not accord with those records. or
Ilie accounts do not ¢oinply with Ihe accouiiting i'eqiiireinents of Seclioii 396 of the 2006 Act otlier tliaii aiiy
I'eqiiireii)ei)I Ilial Ilie accoiinls give a true and fair view whicli is not a Inatter considei'ed as pait of an iiidepeiideiit
exainination. oi.
Ilie accoui)t% l)ave not been pi'epared in accordance with the Ineihods and pi'inciples of the Stateineiit OF
RecoiThiiended Pi'8¢¢ice foi, accoiinting and I'epoiiing by cliai'ities (applicable lo cliai'ilies pi'epaillng Ilieir accouiits
ILI accoi'(lan¢e with the Financial Reporting Standard applicable in the UK ai)d Republic of li'eland (fRS 102)),
I have no conceiilq and have coine ac1.0￿ no other matters in coni)eclion with the exainination to wljicli atteiitioii slioiild
be drawn iii tliis I'eport in oi'dei. to eiiable a piDper understai)ding of the accounts to be iiaclied.
Siinoii Kii'khain FCCA
Kinsclla Clai'ke Liinited
61 Stanley Road
Bootle
Mei'seyside
L20 7BZ
Dalc..
Page 7

Liverpool Medical SliÉ(leiits' Society
Stateiiient of fi inancial Activities
foi. the Yeai. Ei nded 31 Mai'eli 2024
31.3.24
Uiireslricled
fund
31..3.23
Total
ruiids
Notes
INCOME AND CI NDOWMCI NTS FIIOM
Doiialions and legauies
143,693
139,457
Othei. trading activities
Iiivesliiienl iiicome
3.367
234
2,525
46
TotAI
147,294
l42,028
EXPENDITUIIE ON
Raisii)g funds
162,449
131,973
Othei.
275
682
TotAI
162,724
132,655
NCI T INCOMEI(CI XPENDITURI)
(15,430)
9,373
REICONCILIATION OF FUNDS
Total fvnds broiight foiivard
51,443
42,070
TOTAL FUNDS CARIIIED VORWART)
36,013
51,443
The notes foi'm part of these Iinancial stateinents
Page 8

Liverpoi)l MediLdl Studeiits, SoLiety
Statemei)t of Fiiiaiieial Positioii
31 Mai-ch 2024
31.3.24
Total
fuiids
31.3.23
'rotal
fuiids
Noles
41XEI D ASSEITS
Tangible assets
533
808
CURREI NT AssftTS
Stock5
Debtot3
Cash al baiik aiid in haiid
1,793
4,056
32,085
2,610
126
5I,702
37,934
54,438
CREDITORS
Aiiioiiiils falliiig due withiii one year
io
(2,454)
{3,803)
NET CURREINT ASSEITS
35,480
50,635
TOTAL AS.SEI TS LESS CURRENT
LIABILITll%S
36,013
51,443
NET ASSEI TS
36,013
51,443
FUNDS
Iliii'esli'iclcd fLiiids
36,013
51,443
TOTAL fuTr4DS
36,013
51,443
Tlie cliarilable conipat]y is entitled to exen)ption fi'om alidit under Section 477 of the Compaiiies Act 200(? Foi. (lie yeai.
elided 31 Mairh 2024.
The Ineinbers have not I'equii'ed the conipany to obtain ali audil of its fiiiaiicial slaleinents foi. the year elided
31 Mai'ch 2024 in accoi'dance with Section 476 of the Coiiipanies Act 2006.
The tii?slee5 ackniowledge their resp0115ibilities foi.
(a)
eiisiii'ing that the charitable coinpany keeps accounting i'ecoi'ds that comply witli Seclions 386 Bnd 387 of tlie
Coinpaiiies Act 2006 and
pi'epai'iiig finaiicial slateiiienls wliicli give a true at]d fair vi¢w of the slate of affaii's of Ihe cliaritable coinpany as
at the end of each fiiiancial yeai. Hnd of its siiip1115 or deficit for each flliancial y¢ar in accoi-daiice willi the
reqLiiremeiits of Seclioiis 394 ai)d 395 and which otlierwise coiiiply will) tl)e reqliiiriiieiils of tiie Coiiipaiiies Act
2006 1'elaliIig to financial slaleineiils. so far as applicable to the charitable coiiipaiiy.
(b)
Tl)cse financi¥11 .stateineiits l)14 ve beei) prei)ai'ed in accoix121Ice with the provisiolls applicablc to chai'ilible coiiii)aiiies
SLibjeGt to tli¢ small conipanies i'egiine.
The finaiicial slalemeiils weil appi'oved by tiie Boai'd OF Tiustees and aiitliorised for issue
on
'Il.[IL.I. L
and were signed on its behalf by..
B D O'connor- Ti"iistee
The notes foiin pai-l of these financial statelneiits
Page 9

LiiTei'pool MedicAI Students, Society
Note5 to the Finai)ei#l Statements
loi. tl)e Year li i)(led 31 Ma I'ch 2024
ACCOUNTING POLICIES
BIisi5 of pi'epai'iiig tlie fiiianci81 statemei)ts
Tlie fiiiancial stateinent5 of the chai'itable coinpany, wl)icli is a public benefit enlity uiidei. FRS 102, have been
pi-epaiEd in accoi'dance with the Chai'ities SORP (FRS 102) 'AccouiitinL) and Repoiting by Cliai'ities.. Slateineiil
of Rccoininended Practice applicable lo charities prepai'ulg tlieii. accounis iii a¢cordaii¢e will) Ilie Fiiiaiicial
Reporling Staiiddrd applicable in the UK aiid Repliblic of Ireland (FRS 102) (effective l Januai'y 2019),,
Fiiiai)cial Reporting Standard 102 "rhe financial RepoilinL Slandill'd applicable iii the UK aiid RepLiblic of
Ireland, and the Compaiiies Act 2006. The finaiicial slalemenls have been pi'epared undei. tlie hiyloi'ical cost
convetition.
Iliconie
All iiitioine is ircogiiised in tlie Staleinenl of Financial Activities once the cliai'ity has entitleimeiit to Ilie fuiids, it
is pi'obable that the income will be received aiid the ainoiinl cali be measiii-ed I'eliably,
I xpenditui'e
Liabilities al'e i'ecogtiised as expenditure as soon as there is a legal or consti'uctive obligalioii coinlnittiiig th¢
cliai'ity to Ihal cxpeiiditui'e, it is probable that a Iransfei. of ecoiioinic be￿erItS will be I'equiitd iii sclLleineiit and
the aiiioiiiil ot the oblig?ation can be IMeasLired I'eliably. Expeiidilui'e is accouiited foi. on ali accruals basis and lias
b¢on classified linder lieadii)gs that 9ggregale all cost ielated lo tlie calegoi'y. W]ieit cost8 caniiot be dit'ectly
atti-ibiiled lo particiilai. headings they have been allocated to activities oli a basis consisleiit willi tlie use ot
Irsources,
Taiigible fixed assets
Depi'eciatioi) is pi'ovided at the following annual rates in order to write off each asset over its est'iinated Lisefvl
life.
Fixtlires and fittin85
Coi)Ipul¢r equipinenl
250/0 011 reducing balance
33ty/0 on cost
Sloeks
Stocks al'e valiied at the lower of cost and net realisable value, aftei. iiiaki1￿ due allowance foi. obsolete and slow
iiioviiig ileiiis.
TAxAIiiJii
lThe cliai'ity is exempt froin corporation tax on ils cl)arilable activilies.
Fiiiid ACLounling
Uill'esti'icted fuiids can be used in accordance with the charitable objectives at the disci'etioii of tlie ti'l￿tee￿.
Restt'icted fui)ds can oiily be used foi. pai'licular resti'icted piirposes within the objeclb of (he ¢liarily. Resti'ictions
arise wl)ei) specified by the doi)oi' or when fiinds are raised for pailiculai. IEsh'ictcd piirposes.
Fui'tliei. explanation of the nature and purpose of each fuiid is inclLided in the iiotes to the financial stateilleiils.
Hii-c puj-chasc and le￿$111g eommitmeiits
Rentals paid under operatiiig leases al'e chai'ged to Ihe Statciii¢nt of FinBncial Activities on a sh'aiglit line basis
ovei. the pei'iod of tlie lease.
Page 10
coiitiiiued...

Livei'pool Medical Studeiits, Society
Iyotes to tlie Finaneial Statenieiits - evntinued
foi. Ilic Yeai. If iided 31 Mareli 2024
OTHER TRADING ACTIVITIES
31.3.24
31.3.23
Spoiisoi'ships
3.367
2,525
INVEISTMENT INCOMC
31.3.24
31.3.23
Deposit account inteirst
234
46
NKT INCOMEI(EXPCI NDITUIIE)
Net incoine/(expenditui-e) is stated aftei. chargiti￿(cl.edit1n8j:
31.3,24
31.3.23
Depi'eciation - owned assets
Fvenls aiid venlie hii'e
275
119,312
681
99,631
TRUSTEEI S, RFMUNERATION AND BENEFITS
Tliei'e wei'e no tl'LlStees' ieinlinei'ation or othei- bei)efils for the yeai. ended 31 March 2024 nor for the yeai. eiid¢d
31 March 2023.
Ti'ustees, e.xpeiises
There wei'e no trustees, cxpenses paid for the year ended 31 Mairh 2024 iior foi. the year ended 31 March 2023.
COMPARATIVEI S FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unt'esli'icted
fund
INCOME AND ENDOWMENTS FROM
Donations aiid legacies
l39,457
Olliei- ti-ading actLVities
Inve5tsn¢nt lllcome
2.525
46
Total
142,028
EXPCI NDITURI ON
Raising fuiids
131,973
Otl)ei'
682
Total
1.32,655
NET INCOME
9,373
IIICONCILIATION OF FUNDS
Total ILEiids bi'oughi foi'wai'd
42,070
Page 11
coiiliiiiied...

Liyci'pool Medical Studeiits, Socicti,
Notes to Ilie Fiiiancial Statements - coiitiiiued
foi. tlie Yexr i)ded 31 Ma I'ch 2024
COMPARATIVEIS FOR THE STATEMENT OF FINANCIAL AcfiviTIES- coiitinued
Uw'esti'icled
fiiiid
TOTAL FUNDS CARRIE( D FORWAIID
51,443
TANGIBLE filXED ASSETS
Fixlui'es
and
fitliiigs
Coii)putei'
eqLllI)Ineiit
'I'otals
COST
At l Api'il 2023 and 31 March 2024
1,092
1,700
2,792
DF.PIIECIATION
Al l Api'il 2023
Cliai'ge toi. yeai.
851
86
1.133
189
1,984
275
At 31 M41'cli 2024
937
1,322
2,259
NET BOOK VALUE
At 31 Mai'cli 2024
155
378
533
At 31 Mai'ch 2023
241
567
808
STOCI<S
31.3.24
31.3,23
Slocl(s
1,793
2,610
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
31.3.23
Othej. debtors
'epayiMents
3,840
216
126
4,056
126
Page 12
continued...

Livei'p<iol Medical Studeiits, Society
Tr4otes to tlie fi inllneial Statements~ eontinued
foi- tlie Ycai- Elided 31 Mai'ch 2024
io.
CREDITORS: AMOUNTS FALLING DUC WITHIN ONE YE( AR
31.3.24
31.3.23
Ti'ade ci'edilors
Acci'uals and deferred income
1,379
2.424
2.454
2,454
3,801
MOVEMENT Iiy FUNDS
Net
Inoveinent
in fiii)ds
At
31.3.24
At 1.4.23
Uni'estricted fuiids
Genei'al fui)d
51,443
(15,430)
36,013
TOTAL f4UNDS
51,443
(15,430)
36,013
Net Inovenient in ftiiids, included in the above are as follows:
Incoining
Irsouires
Resources
expeiided
Moveineiil
in fiii)ds
Uii I'esli'lcled fiinds
Geiiei'al tiind
147,294
(162,724)
(15,430)
TOTAL fiUNDS
147,294
(162,724)
(15,430)
CoinpAI'atlves foi. movement in funds
Net
Inoveinent
in fiinds
At
31.3.23
At 1.4.22
Uni"estrieted fiinds
Genei'al fiiIid
42,070
9,373
51,443
TOTAL FUNDS
42,070
9,373
51,443
Coimporalive net Inovement in fiinds, incllided in the Ab(Jve 8re as follows:
Incoinii)g
resoiirces
Resoui'ce5
expeiided
Moveiiient
iii funds
UIire5tricted funds
CJenei'al fuiid
142,028
(132,655)
9,373
TOTAL fi UNDS
142,028
(l32,655)
9,373
Page 13
coi)tiiiiied.

Livei'pool Medical Studeiits, Society
Notes to tlic Fiilaiicial Statemeiils - coiilihlued
roi. the Yeai. Ei Jided 31 Mai'cli 2024
12.
REI LATED PARTY I)ISCLOSURES
Tlieiy ivere no i'elated party transactions for tlie yeai. ended 31 Marcli 2024.
Page 14

Liverpool Medical Studei)ts' Society
Detailed Statenieiit of Finxilcial Aettvities
fot. 11)e Ye21. Fiided 31 Mai'cli 2024
31.3.24
31.3.23
INCOME AND ENDOWMCI NTS
Doiiatioiis and legacies
Doiifilioiis
Cliai'ity eveiit incume
ii)einbei'ships
16.168
29,434
98,091
11,387
52,239
75.83l
143,693
139,457
Othei. tradiiig aLtiviti¢s
Spoiisoi'ships
3,367
2,525
Ii)vestmeTIt inLome
Deposit account int¢i'est
234
46
Total ii)comiiig i'csoui'ces
147.294
142,028
IXPCI NDJTURE
Ilxisijig doiialioiis and legacies
Bveiils aiid veniie l)ire
Coin]iiittee eypenses
Postage ai)d stationery
Mei'chandise
Bonatioiis given
Accouiilancy
SLibs¢ription
Baith chai'ges
Iiisuraiice
119,312
2,965
1,281
7,759
23,600
2,527
1,164
1,672
1,352
99,631
1,858
505
9,736
14,329
2,220
1,12f)
2.972
1,291
161,632
133,668
Otliei" ti'Ading activities
Opeiiiiig slock
Closing stock
2,609
(1,792)
914
(2,609)
817
(1.695)
Other
Fixtui'es and fittings
Computei. eqliipiment
86
189
115
567
275
682
Total I'csoui'ces expended
162,724
112,65fj
Net (expeiiditure)liiicoine
(15,430)
9,373
This page does not foiTh part of the statiitoiy fiiiancial stateinents
Page 15