Charity Registration No. 1171659
THE BRITISH SOCIETY FOR PARASITOLOGY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE BRITISH SOCIETY FOR PARASITOLOGY
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Prof J V Hamilton (President) | |
|---|---|---|
| Prof H Price (Vice President) | ||
| Prof M Llewellyn (Honorary General | ||
| Secretary) | ||
| Prof P Lamberton (Honorary | ||
| Treasurer) | ||
| Dr J Pachebat (Temp Honorary | ||
| Treasurer) | ||
| Dr J LaCourse (Meeting Secretary) | ||
| Dr E Briggs (Ordinary Member) | ||
| Dr D Xia (Ordinary Member) | ||
| Dr P McCusker (Ordinary Member) | ||
| Dr C Tiengwe (Ordinary Member) | ||
| Dr J B Power (Ordinary Member) | ||
| Dr N Pionnier (Ordinary Member) | ||
| Dr V Yurchenko (Ordinary Member) | ||
| Dr V Marugan-Hernandez (Ordinary | (Appointed 4 April 2024) | |
| Member) | ||
| J Archer (Ordinary Member) | (Appointed 4 April 2024) | |
| Dr G Ebiloma (Ordinary Member) | (Appointed 4 April 2024) | |
| Dr G Oldrieve (Ordinary Member) | (Appointed 4 April 2024) | |
| Charity number | 1171659 | |
| Principal address | 87 Gladstone Street | |
| Bedfordshire | ||
| MK41 7RS | ||
| Independent examiner | Katie Squire ACA, Anova | |
| The Barn, Meadow Court | ||
| Faygate Lane | ||
| Faygate | ||
| Horsham | ||
| West Sussex | ||
| RH12 4SJ |
THE BRITISH SOCIETY FOR PARASITOLOGY
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
THE BRITISH SOCIETY FOR PARASITOLOGY
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Council of the BSP presents its annual report and financial statements for the year 1 January 2024 to 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Society's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The Society’s objectives are to advance the practice and study of Parasitology by facilitating contact between persons interested in the discipline, and to disseminate knowledge and information relating to Parasitology and the work of the Society. In furtherance of these objectives, and only these, we undertake the activities that are outlined in Note 4 of the Memorandum of Association.
Public benefit entity
The charity operates as a public benefit entity and the trustees have paid due regard to guidance issued by the Charity Commission, including guidance on the Public Benefit requirement under the Charities Act 2011, in deciding what activities the Society should undertake.
Reference and administrative details
The Society was incorporated as a charitable company in 1998 (Company Number 3530933). On the 22 March 2017, this charity was closed and the assets of the Society transferred to a new Charitable Incorporated Organisation (1171659). The Society is administered by the Secretariat, Fuller Solutions, of 87 Gladstone Street, Bedford MK41 7RS.
Achievements and performance
Scientific meetings
Liverpool 2024
The spring meeting in Liverpool which took place over the 2[nd] -4[th] April 2024. The meeting was hybrid in format and oral presentations were broadcast whilst posters were available to view both in person and online. Attendees, in person (384) and online (70+). The origin of attendees were 62% from the UK 22% from the EU, 2% from the USA and 14% from the rest of the world. The online nature of the meeting increased attendance from Low and Middle income countries ( LMICs) significantly. The meeting provided free childcare and discounted access for remote attendees from LMICs.
CA Wright Medal Recipient Prof. Andy Fenton and President’s Medal Recipient Dr Juan Quintana.
Autumn Symposium
The autumn symposium was held at the Natural History Museum dates which covered the challenging subject of ‘Highlighting female and male genital schistosomiasis in Africa’. Attendees in person (72) and online (60+).
2024 Annual General Meeting
The 2024 AGM took place at the annual Spring Meeting and was quorate. The annual accounts and officer reports were accepted by the membership.
Dr G Oldrieve, Dr Virginia Marugan-Hernandez, Mr John Archer and Dr Godwin Ebiloma were elected Trustees.
Membership of the Society
At time of preparing this report (25[th] February 2024), the Society has 989 paid members listed and 1001 members holding concession membership from LMICs, of the total 1990 members, 49 are active ‘Honorary Members’.
The current annual fee for ‘Ordinary’ membership is £75, whilst the annual ‘Student, Unwaged, and Retired’ membership fee is £25. This was raised this year after a vote at the 2024 AGM.
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THE BRITISH SOCIETY FOR PARASITOLOGY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Equality and diversity
The council stipulates that all bids for BSP-endorsed meetings should contain provision for childcare and be available online to facilitate diversity of attendance. The Equality and Diversity session ran successfully and is now institutionalised for future annual meetings and the meeting was hybrid enabling considerable attendance from LMIC members who otherwise might not have attended.
Financial review
Income
BSP income consists of donations and legacies, charitable activity, and investment income.
Donations and legacies
In 2024 the BSP received £24,472 in membership subscriptions (2023: £25,292), and deducted £2,500 in royalties and sponsorships from a debt previously owed in sponsorship (2023: £5,000). Thus in 2024, the total donations and legacies received were £21,972 (2023: £30,292).
Charitable activity
Meeting income, which includes registration fees and sponsorship, is counted as a charitable activity. In 2024, the BSP held two meetings, the Liverpool University Spring meeting and Natural History Museum Autumn Symposium (both hybrid in-person and on-line format). For 2024, meeting income was £111,443 (2023: £121,939).
Investment income
In 2024 the BSP received £11,713 income from the investment portfolio in the form of interest and dividends (2023: £11,473).
Income summary
In 2024, the society’s total income was £147,628, and after deducting an outstanding amount of £2,500 owed, the total reported income was £145,128 (2023: £163,704).
Expenditure
Expenditure includes the cost of running scientific meetings and secretariat costs, support costs, grants (student travel awards and the International Training and Fieldwork Award (ITFA) and awards.
Meetings expenditure
In 2024, meeting expenditure was £102,532 (2023: £116,536), with 50% of Secretariat fees charged to the meeting expenditure.
Support costs
Support costs include day-to-day office costs, banking and information technology charges, insurance and audits. For 2024, support costs were £43,247 (2023: £40,007), with 50% of Secretariat costs charged to the support costs.
Grants
Grant funding of activities include the Student Travel Awards and the International Training and Fieldwork Award. In 2024, the BSP grant funding was £8,033 (2023: £11,198).
Expenditure Summary
In 2024, the society’s total expenditure was £153,812 (2023: £167,741).
Investments
On the 31[st] December 2024, the value of the society’s investments with Brewin Dolphin was £570,099 (2023: £551,736), an increase of £18,363 in investment value.
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THE BRITISH SOCIETY FOR PARASITOLOGY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Overall financial summary
In 2024, the society’s total income was £145,128 (2023: £163,704) and total expenditure was £153,812 (2023: £167,741), resulting in an operating deficit of £8,684 (2023: £4,037). This operating deficit has been offset by an increase in the value of the society’s investments, contributing to an increase of £10,408 in the BSP’s total assets, less liabilities, to a total £624,353 (2023: £613,945). It is expected that the society’s investments will provide an increased investment return in subsequent years, which alongside the new increase in membership fees will ensure the BSP’s activities will continue to be financially viable.
Reserves policy
It is the policy of the Society that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Society’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Memorandum and Articles of Association of the Society govern the charitable incorporated organisation.
Management of the Society’s affairs is vested in its Council, members of which are trustees of the charity.
Members of Council are recruited from the membership of the Society by nomination by their peers. Where there are several candidates for vacancies, a ballot is held. Honorary Officers are elected by Council from those persons already duly elected as trustees in accordance with the Articles.
The appointment of trustees and election of Honorary Officers is subject to the approval of members at the next following AGM. Council members normally serve for three years from election/appointment, except the President and Vice President, who serve for two years. The post of President is filled by the retiring Vice President without any requirement for approval by the members in general meeting. The society is committed to maintaining a diversity in the council to best represent the diverse membership from which it is composed.
The processes are detailed in the Memorandum and Articles of Association, copies of which are available from the Society secretariat on request (https://bsp.uk.net).
The Council of the Society meets regularly during the year including for the Annual General Meeting at which business requiring the approval of the Society membership is presented and the independently examined accounts for the year are formally approved.
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THE BRITISH SOCIETY FOR PARASITOLOGY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees who served during the year and up to the date of signature of the financial statements were:
Prof J V Hamilton (President) Prof H Price (Vice President) Prof M Llewellyn (Honorary General Secretary) Prof P Lamberton (Honorary Treasurer) Dr J Pachebat (Temp Honorary Treasurer) Dr J LaCourse (Meeting Secretary) Prof P Walrad (Communications Secretary) (Resigned 13 April 2024) Dr E Briggs (Ordinary Member) Dr D Xia (Ordinary Member) Dr P McCusker (Ordinary Member) Dr C Tiengwe (Ordinary Member) Dr J B Power (Ordinary Member) Dr N Pionnier (Ordinary Member) Dr V Yurchenko (Ordinary Member) Dr V Marugan-Hernandez (Ordinary Member) (Appointed 4 April 2024) J Archer (Ordinary Member) (Appointed 4 April 2024) Dr G Ebiloma (Ordinary Member) (Appointed 4 April 2024) Dr G Oldrieve (Ordinary Member) (Appointed 4 April 2024)
Other people who served on the Council of the BSP during 2024 were:
Nada Abdalrahman (Student Member) (appointed April 2023) Isobel Gabain (Student Member) (appointed April 2023) Sophia DonVito (Student Member) (appointed April 2023)
In April 2024 Ordinary Member and Student Representative were elected to join Council.
During 2024 there were threer meetings of Council convened with two meetings held as a hybrid meetings with both face to face and online attendees.
No trustees received any remuneration for their services during this period in accordance with note 5 of the Memorandum of Association.
The trustees' report was approved by the Board of Trustees.
Martin Llewellyn ~~..............................~~ Martin Llewellyn (Apr 1, 2025 12:34 GMT+1) .............................. Prof M Llewellyn (Honorary General Secretary) Prof P Lamberton (Honorary Treasurer) Trustee Trustee Dated: ......................... 01/04/2025 Dated:......................... 24/04/2025
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THE BRITISH SOCIETY FOR PARASITOLOGY
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE BRITISH SOCIETY FOR PARASITOLOGY
I report to the trustees on my examination of the financial statements of The British Society for Parasitology (the Society) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the Society you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Society’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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 Society as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements 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 financial statements to be reached.
Katie Squire
Katie Squire (Apr 25, 2025 16:24 GMT+1)
Katie Squire ACA, Anova
The Barn, Meadow Court Faygate Lane Faygate Horsham West Sussex RH12 4SJ
25/04/2025 Dated: .........................
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THE BRITISH SOCIETY FOR PARASITOLOGY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 21,972 | 30,292 |
| Charitable activities | 4 | 111,443 | 121,939 |
| Investments | 5 | 11,713 | 11,473 |
| Total income | 145,128 | 163,704 | |
| Expenditure on: | |||
| Charitable activities | 6 | 153,812 | 167,741 |
| Net gains/(losses) on investments | 11 | 19,092 | 27,934 |
| Net movement in funds | 10,408 | 23,897 | |
| Fund balances at 1 January 2024 | 613,945 | 590,048 | |
| Fund balances at 31 December 2024 | 624,353 | 613,945 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE BRITISH SOCIETY FOR PARASITOLOGY
BALANCE SHEET
AS AT 31 DECEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Intangible assets | 12 | 4,200 | 6,600 | ||
| Tangible assets | 13 | 968 | - | ||
| Investments | 14 | 570,099 | 551,736 | ||
| 575,267 | 558,336 | ||||
| Current assets | |||||
| Debtors | 15 | 3,163 | 8,890 | ||
| Cash at bank and in hand | 53,476 | 53,834 | |||
| 56,639 | 62,724 | ||||
| Creditors: amounts falling due within | |||||
| one year | 16 | (7,553) | (7,115) | ||
| Net current assets | 49,086 | 55,609 | |||
| Total assets less current liabilities | 624,353 | 613,945 | |||
| Income funds | |||||
| Unrestricted funds | 624,353 | 613,945 | |||
| 624,353 | 613,945 | ||||
| The financial statements were approved by the Trustees on ......................... 01/04/2025 |
|||||
| ~~..............................~~ Martin Llewellyn (Apr 1, 2025 12:34 GMT+1) Martin Llewellyn |
.............................. | ||||
| Prof M Llewellyn (Honorary General Secretary) | Prof P Lamberton (Honorary Treasurer) | ||||
| Trustee | Trustee |
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THE BRITISH SOCIETY FOR PARASITOLOGY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
The British Society for Parasitology is a Charitable Incorporated Organisation and the principal address is 87 Gladstone Street, Bedfordshire, MK41 7RS.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Society's governing document, the Charities Act 2011 and "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 Society is a Public Benefit Entity as defined by FRS 102.
The Society has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Society. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Society has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Incoming resources
Income is recognised when the Society is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Donations are recognised once the Society has been notified of the donation, unless performance conditions require deferral of the amount.
1.5 Resources expended
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 an economic outflow 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 costs 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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THE BRITISH SOCIETY FOR PARASITOLOGY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.6 Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website development
25% on cost
1.7 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment 25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.8 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.9 Impairment of fixed assets
At each reporting end date, the Society reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.11 Financial instruments
The Society has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Society's balance sheet when the Society becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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THE BRITISH SOCIETY FOR PARASITOLOGY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
2 Critical accounting estimates and judgements
In the application of the Society’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Membership subscriptions | 24,472 | 25,292 |
| Royalties and sponsorship | (2,500) | 5,000 |
| 21,972 | 30,292 |
4 Charitable activities
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income from meeting activities | 111,443 | 121,939 |
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THE BRITISH SOCIETY FOR PARASITOLOGY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Investment portfolio dividend income | 11,583 | 11,473 |
| Interest receivable | 130 | - |
| 11,713 | 11,473 |
6 Charitable activities
| Meeting costs Grant funding of activities (see note 7) Share of support costs (see note 8) |
2024 £ 102,532 8,033 43,247 153,812 |
2023 £ 116,536 11,198 40,007 |
|---|---|---|
| 167,741 |
7 Grants payable
During the year total grants paid as part of the charitable activities of the Society amounted to £8,033 (2023: £11,198).
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THE BRITISH SOCIETY FOR PARASITOLOGY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
8 Support costs
| Support costs | ||
|---|---|---|
| Support costs Governance costs £ £ Depreciation 2,655 - Bank and credit card charges 2,330 - Insurance 985 - Computer software expenses 8,211 - Affiliations 850 - Legal and professional fees 5,387 - Independent examiner's remuneration 2,724 - Trustees' expenses 564 - Secretariat fees 19,108 - Committee meeting expenses 433 - 43,247 - Analysed between Charitable activities 43,247 - |
2024Support costs Governance costs £ £ £ 2,655 2,400 - 2,330 2,480 - 985 967 - 8,211 4,879 - 850 850 - 5,387 5,800 - 2,724 2,724 - 564 2,542 - 19,108 15,895 - 433 1,470 - 43,247 40,007 - 43,247 40,007 - |
2023 £ 2,400 2,480 967 4,879 850 5,800 2,724 2,542 15,895 1,470 |
| 40,007 | ||
| 40,007 |
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THE BRITISH SOCIETY FOR PARASITOLOGY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Society during the year.
During the year the trustees claimed expenses for travel and subsistence totalling £564 (2023: £2,542).
10 Employees
There were no employees during the year.
11 Net gains/(losses) on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Revaluation of investments | 19,092 | 15,218 |
| Gain/(loss) on sale of investments | - | 12,716 |
| 19,092 | 27,934 |
12 Intangible fixed assets
| Intangible fixed assets | |
|---|---|
| Website development | |
| £ | |
| Cost | |
| At 1 January 2024 and 31 December 2024 | 9,600 |
| Amortisation and impairment | |
| At 1 January 2024 | 3,000 |
| Amortisation charged for the year | 2,400 |
| At 31 December 2024 | 5,400 |
| Carrying amount | |
| At 31 December 2024 | 4,200 |
| At 31 December 2023 | 6,600 |
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THE BRITISH SOCIETY FOR PARASITOLOGY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 13 Tangible fixed assets Cost Additions At 31 December 2024 Depreciation and impairment Depreciation charged in the year At 31 December 2024 Carrying amount At 31 December 2024 14 Fixed asset investments Cost or valuation At 1 January 2024 Valuation changes Accrued income At 31 December 2024 Carrying amount At 31 December 2024 At 31 December 2023 Investments at fair value comprise: UK equities and other investments Overseas equities and other investments UK fixed interest securities |
Computer equipment £ 1,223 1,223 255 255 968 Listed investments £ 551,736 19,092 (729) 570,099 570,099 551,736 2024 2023 £ £ 137,930 131,188 304,965 266,973 127,204 153,575 570,099 551,736 |
|---|---|
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THE BRITISH SOCIETY FOR PARASITOLOGY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 15 Debtors Amounts falling due within one year: Prepayments and accrued income 16 Creditors: amounts falling due within one year Accruals and deferred income 17 Related party transactions |
2024 £ 3,163 2024 £ 7,553 |
2023 £ 8,890 |
|---|---|---|
| 2023 £ 7,115 |
||
There were no disclosable related party transactions during the year (2023 - none).
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KS/CL1074
The Board of Trustees The British Society for Parasitology 87 Gladstone Street Bedford Bedfordshire MK41 7RS
4 March 2025
The Barn Meadow Court Faygate Lane Faygate Horsham West Sussex RH12 4SJ 01403 214 780
anovagroup.co.uk enquiries@anovagroup.co.uk
Dear Sirs
The British Society of Parasitology (the Society)
You confirm, during the course of our independent examination of the financial statements of the charity for the year ended 31 December 2024, the following representations were made to us by management and trustees.
1. Accounting Records and Bank Financial Statements
You confirm you have fulfilled your responsibilities as trustees under the Charities Act 2011 for preparing financial statements, in accordance with the applicable financial reporting framework, Financial Reporting Standard 102 SORP, that give a true and fair view and for making accurate representations to us as your accountants and for the financial statements which we have prepared on your behalf for the charity.
You confirm that all accounting records have been made available to us for the purpose of our independent examination, in accordance with our terms of engagement, and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information have been made available to us. You have given us unrestricted access to persons within the charity in order to obtain evidence where required and have provided any additional information that we have requested for the purposes of our independent examination.
2. Accounting Estimates
You confirm that significant assumptions used in making accounting estimates, including those measured at fair value, are reasonable.
3. Actual and Possible Litigation
You confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to us and accounted for and disclosed in accordance with the applicable financial reporting framework.
4. Subsequent Events and Transactions
There has been no event since the balance sheet date which requires disclosing or which would materially affect the amounts in the Financial Statements.
Anova is a trading name of Anova Group Ltd. Company Number: 11923810. Registered in England & Wales. Registered Office Address: The Barn, Meadow Court, Faygate Lane, Horsham, West Sussex RH12 4SJ. Directors: Matthew Cleghorn FCA, Philip Sleight CTA. Consultant: Simon Hoy CA A member of the ICAEW Practice Assurance Scheme. Firm registration number is C006672437.
5. Related Party Disclosures
You confirm that you are aware that a related party of the charity is a person or organisation which either (directly or indirectly) controls, has joint control of, or significantly influences the charity or vice versa and as a result will include: trustees/directors, other key management, close family and other business interests of the previous.
You confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the applicable financial reporting framework.
6. Loans to Trustees
You confirm that the charity has had, at no time during the period, any arrangement, transaction or agreement to provide credit facilities (including advances and credits granted by the charity) for trustees, nor to provide guarantees of any kind on behalf of the trustees.
7. Capital Expenditure
You confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
8. Law and Regulations
You are not aware of any irregularities, including fraud, involving any Society member; nor are you aware of any breaches or possible breaches of statute, regulations, contracts or agreements which might prejudice the Society’s going concern status or that might result in the Society suffering significant penalties or other loss. No allegations of such irregularities, including fraud, or such breaches, other than noted above, have come to our notice.
9. Implementation of Internal Controls
You acknowledge your responsibility for the design and implementation of internal controls to prevent and detect fraud. You confirm that you have disclosed to us the results of your own risk assessment that the financial statements may be misstated as a result of fraud.
10. Income and Expenditure Account
You confirm that all incoming resources have been fully recorded and all amounts charged to Income and Expenditure Account in respect of purchases and other expenses are properly chargeable to the Society.
11. Grants and Donations
All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to us. There have been no breaches of terms or conditions during the period in the application of such income.
Yours faithfully,
Anova
We confirm that the contents of this letter are agreed and it accurately reflects the representations made to you during the course of the accounts preparation and independent examination.
Martin Llewellyn …………………………………… Martin Llewellyn (Apr 1, 2025 12:34 GMT+1) ……………………. } Prof M Llewellyn – Honorary General Secretary …………………………………………………………. } Prof P Lamberton – Honorary Treasurer 01/04/2025 Date: ………………………………………………… Signed for and on behalf of The Board of Trustees of The British Society for Parasitology
PRIVATE & CONFIDENTIAL
4 March 2025
To: Board of Trustees
The British Society for Parasitology 87 Gladstone Street Bedford MK41 7RS
The Barn Meadow Court Faygate Lane Faygate Horsham West Sussex RH12 4SJ
01403 214 780 anovagroup.co.uk enquiries@anovagroup.co.uk
Our reference: CL1074
Dear Board of Trustees
PROVISION OF PROFESSIONAL SERVICES
Thank you for engaging us for the provision of professional services. This letter and the attached detailed schedule[s] of service, together with our standard terms of business, set out the basis on which we are to provide those services.
We are bound by the code of ethics of the Institute of Chartered Accountants in England and Wales (ICAEW), and accept instructions to act for you on the basis that we will act in accordance with those ethical guidelines.
We have listed overleaf on the Summary Schedule of Services Provided the work which you have instructed us to carry out, the detail of which is contained in the attached detailed schedule[s]. The attached Key Facts schedule lists the specific facts relevant to your entity for the services we are to provide, and must be read in conjunction with the detailed schedules. Together these state your and our responsibilities in relation to the work to be carried out.
Only the services which are listed in the attached detailed schedules, as tailored for your specific circumstances in Key Facts , are included within the scope of our instructions. If there is additional work that you wish us to carry out, or the Key Facts do not accurately describe the services to be provided, please let us know as soon as possible. If we agree to carry out additional work for you, we will provide you with an amended engagement letter, Key Facts and, if relevant, new detailed schedules.
Limitation of liability
We would like to draw your attention to the limitation of liability schedule ( 1.02 ), which clearly sets out the terms of our limitation with regard to work we shall perform on your behalf, where applicable. This should be read in conjunction with section 18 of our standard terms of business schedule ( 1.01 ) which, in particular, excludes liability to third parties.
Agreement of terms
This engagement will start for the period commencing as detailed below:
Anova is a trading name of Anova Cleghorn Ltd. Company Number: 13212774. Registered in England & Wales. Registered Office Address: The Barn, Meadow Court, Faygate Lane, Horsham, West Sussex RH12 4SJ. Directors: Matthew Cleghorn FCA, Philip Sleight CTA. Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales.
Firm registration number is C009077789.
Service provided
Start date
3
Independent examination/other assurance
----- Start of picture text -----
|||
|---|---|
|3.03 Unincorporated charity/CIO: accruals accounts - independent|
|examination|1 January 2024|
|5|Accounting services|
|5.01 Production of annual financial statements only (NB. As part of audit|
|or assurance assignment)|1 January 2024|
----- End of picture text -----
We will also deal with matters arising in earlier years as appropriate.
This letter supersedes any previous engagement letter for the period covered. The terms set out in this letter shall take effect immediately upon you confirming your agreement as requested below. If we are instructed to start work before receiving your confirmation we will treat that as acceptance of all the terms of this engagement letter, unless we hear from you to the contrary within 14 days of you giving that instruction.
Further assistance
If at any time you would like to discuss with us how our service to you could be improved, or if you are dissatisfied with the service you are receiving, please let us know by contacting Katie Squire on 01403 214780. Further details are set out in our standard terms of business.
As you can see from the Summary Schedule of Services Provided , there are many other areas where we can be of assistance and we shall be pleased to discuss any matters with you.
Confirmation of your agreement
We are committed to ensuring the protection and privacy of personal data. We would like to draw your attention to our data protection clause in schedule 1.01 Standard Terms of Business (clause 14) which details how we treat personal data received by us in the provision of services during our engagement with you. By signing the Client Response, you confirm that you have read and understood clause 14 and any privacy notice to which it refers.
Please confirm your agreement to all the terms of this letter and the attached schedules by signing and returning the Client Response (CR) at the end of this letter. Once it has been agreed, this letter will remain effective until it is replaced.
This letter, together with the attached schedules, constitutes the entire contract between us. You or we may agree to vary or terminate our authority to act on your behalf at any time without penalty. Notice of variation or termination must be given in writing.
If this letter and the attached schedules are not in accordance with your understanding of our terms of appointment, please contact us.
Yours sincerely
Katie Squire Associate Partner
For and on behalf of Anova
Version: 2501
KF
The British Society for Parasitology
KEY FACTS FOR SERVICES PROVIDED
All the attached detailed schedules have been standardised for all our services.
Where it is necessary to tailor the schedules to the specific services being provided to you, those details are provided below, together on the left hand side with the version date (YYMM) when the detailed service schedule was last updated and the relevant paragraph number in the detailed service schedule.
1 Standard Terms of Business
Version:
1.01 Standard Terms of Business
2312
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1.1 Details of the firm's professional registrations, including audit registration where applicable, can be found at www.anovagroup.co.uk
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1.2, The firm is a member of ICAEW and its code of ethics can be found at www.icaew.com/regulations.
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4.1, 10.2
1.3 The firm’s professional indemnity insurer is AXA XL Insurance Company UK Limited, who can be located at 20 Gracechurch Street, London, EC3V 0BG. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.
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3.1 Where the firm or its associates earn commission in respect of transactions we arrange for you, our fees otherwise payable by you will not be abated by such amounts.
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4.2 Interest on client monies will be calculated using the prevailing rate applied by Barclays.
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4.5 The firm is not wholly owned and/or controlled by a single member.
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5.5 The firm accepts settlement of fees by certain credit cards.
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9.3 When dealing with HMRC, we will ensure that our quality control procedures match or enhance the suggestions in their Agent Toolkits.
10.1 The principal contact at the firm if you would like to discuss any aspect of our services is Katie Squire who can be contacted on 01403 214780.
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11.1 This engagement letter is governed by and construed in accordance with English law.
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14.3 A copy of the firm’s privacy notice may be found at www.anovagroup.co.uk.
14.7 The contact at the firm if you would like to contact us about any data protection issue is Katie Squire who can be contacted on 01403 214780.
24.1 We are not licensed or authorised for the reserved legal activity of non-contentious probate.
Version: 1.02 Limitation of liability
Version: 2501
KF
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1.3 The limitation of liability in respect of all other services provided in this engagement letter is £1,200,000.
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3 Independent Examination/Assurance Services
The relevant detailed schedule explaining our respective responsibilities is:
Version: 3.03 Unincorporated charity/CIO: accruals accounts - independent examination 1907
Introduction Katie Squire is the person Anova has assigned as your independent examiner.
2.3(c) The financial statements will be prepared in accordance with the FRS 102 accounting basis.
5 Accounting Services
The relevant detailed schedule(s) explaining our respective responsibilities are:
Version: 2211 5.01 Production of annual financial statements only
Intro The financial statements will be prepared in accordance with the FRS 102 accounting basis.
Intro Julian Fuller is the person you have informed us who will be your primary point of contact for the production of the financial statements.
1.6 In order to ensure we meet the HMRC’s deadline for the submission of the Tax Return, we must have your accounting records by 31 May.
- 2.4 We shall perform no bookkeeping services.
Version: 2501
SSSP
The British Society for Parasitology
SUMMARY SCHEDULE OF SERVICES PROVIDED
| Yes if | ||
|---|---|---|
| applies | ||
| 1 | 1 Standard Terms of Business |
Yes |
| 1.01 Standard Terms of Business | Yes | |
| 1.02 Limitation of Liability | Yes | |
| 2 | 2 Audit |
No |
| 2.01 Limited company | No | |
| 2.02 LLP | No | |
| 2.03 Charitable company audited under the Companies Act 2006 | No | |
| 2.04 Small charitable company audited under the Charities Act 2011 | No | |
| 2.05 Unincorporated charity/CIO: accruals accounts | No | |
| 2.06 Unincorporated charity/CIO: receipts & payments accounts | No | |
| 2.07 Academy | No | |
| 2.08 Friendly Society | No | |
| 2.09 Co-operative or Community Benefit Society | No | |
| 2.10 Housing Association | No | |
| 2.11 Pension scheme | No | |
| 2.12 Pension scheme: earmarked | No | |
| 2.13 Pension scheme: Small Scheme | No | |
| 3 | 3 Independent examination/other assurance |
Yes |
| 3.01 Limited company: assurance engagement | No | |
| 3.02 Charitable company: independent examination | No | |
| 3.03 Unincorporated charity/CIO: accruals accounts - independent examination | Yes | |
| 3.04 Unincorporated charity/CIO: receipts & payments accounts - independent | ||
| examination | No | |
| 3.05 Friendly Society: reporting accountant’s report | No |
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SSSP
| 3.06 Co-operative or Community Benefit Society: reporting accountant’s report | No | |
|---|---|---|
| 3.07 Housing Association - reporting accountants | No | |
| 4 | 4 Accountant’s report (NB. Includes production of financial statements) |
No |
| 4.01 Limited company (suitable for use for Community Interest Company) | No | |
| 4.02 Dormant company | No | |
| 4.03 Limited subsidiary company (suitable for use for Community Interest | ||
| Company) | No | |
| 4.04 LLP | No | |
| 4.05 Charitable company | No | |
| 4.06 Unincorporated charity/CIO | No | |
| 4.07 Friendly Society | No | |
| 4.08 Co-operative or Community Benefit Society | No | |
| 4.09 Housing Association | No | |
| 4.10 Pension scheme | No | |
| 4.11 Other entities requiring an accountant’s report (e.g. sole trader, partnership, | ||
| trust) | No | |
| 5 | 5 Accounting services |
Yes |
| 5.01 Production of annual financial statements only (NB. As part of audit or | ||
| assurance assignment) | Yes | |
| 5.02 Cash flows/profit forecasts | No | |
| 5.03 Management accounts | No | |
| 5.04 Bookkeeping services | No | |
| 5.05 Cloud-based accounting services | No | |
| 5.06 Provision of client portal service | No | |
| 5.07 Transition to a new accounting basis | No | |
| 6 | 6 Taxation services |
No |
| 6.01 Corporation tax, including preparation and filing of iXBRL accounts | No | |
| 6.02 Preparation of iXBRL tagged accounts only | No | |
| 6.03 Review of iXBRL tagged accounts only | No |
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Version: 2501
| SSSP | |||
|---|---|---|---|
| 6.04 Self-assessment (Partnerships and LLPs) | No | ||
| 6.05 Benefits-in-kind (P11D) returns | No | ||
| 6.06 Subcontractors Construction Industry Scheme (CIS) – client operated for | |||
| online submission by firm | No | ||
| 6.07 Subcontractors Construction Industry Scheme (CIS) – firm operated | No | ||
| 6.08 VAT | No | ||
| 6.09 Personal tax (individuals, sole traders & couples) | No | ||
| 6.10 Personal tax Credits | No | ||
| 6.11 Trust income tax and capital gains tax | No | ||
| 6.12 Direct taxation – charities & pension schemes | No | ||
| 6.13 Annual Tax on Enveloped Dwellings (ATED) | No | ||
| 6.14 Taxation of Community Amateur Sports Club (CASC) | No | ||
| 7 | 7 Other services |
No | |
| 7.01 Payroll | No | ||
| 7.02 Secretarial services for companies/LLPs | No | ||
| 7.03 Secretarial services for charities | No | ||
| 7.04 Secretarial services for societies | No | ||
| 7.05 Pension scheme - one-off auto enrolment services | No | ||
| 8 | 8 Specialist reporting requirements |
No | |
| 8.01 FCA Regulated entity | No | ||
| 8.02 Estate Agents | No | ||
| 8.03 Solicitors - Reports under the SRA Accounts Rules 2019 | No | ||
| 8.04 Appointment as Trustee | No | ||
| 8.05 Insurance Brokers/Intermediaries - Reports under CASS 5 | No | ||
| 8.06 Service charge accounts: agreed upon procedures | No | ||
| 8.07 Service charge accounts: Section 21 report | No | ||
| 8.08 Assisting with management buyout (MBO) | No | ||
| 8.09 Share valuations | No |
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Version: 2501
|8.10 Assisting with acquisition of company
8.11 Provision of Probate Services by licensed/authorised firm
8.12 Provision of Probate Services by unlicensed firm
8.13 Licensed Conveyancers|8.10 Assisting with acquisition of company
8.11 Provision of Probate Services by licensed/authorised firm
8.12 Provision of Probate Services by unlicensed firm
8.13 Licensed Conveyancers|SSSP
No
No
No
No
~~|~~|
|---|---|---|
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1.01
STANDARD TERMS OF BUSINESS
The purpose of this schedule is to set out the standard terms of business that apply to all engagements accepted. All work carried out is subject to these terms except where changes are expressly agreed in writing.
These standard terms of business are applicable to all types of entities (e.g. companies, LLPs, charities, friendly societies, academies, pension schemes, etc.). Any reference therefore to ‘director’ or ‘company’ should be interpreted as appropriate for the entity type (e.g. partner, trustee, governor, charity, LLP, etc.)
1 Professional obligations
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1.1 As required by the Provision of Services Regulations 2009 (SI 2009/2999), details of the firm’s professional registrations, including audit registration where applicable, can be found on our website address stated in Key Facts .
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1.2 We will observe and act in accordance with the bye-laws and regulations of our professional body (see Key Facts ) together with their code of ethics. We accept instructions to act for you on this basis. In particular you give us authority to correct errors made by HM Revenue & Customs where we become aware of them. We will not be liable for any loss, damage or cost arising from our compliance with statutory or regulatory obligations.
Professional indemnity insurance
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1.3 In accordance with the disclosure requirements of the Provision of Services Regulations 2009, details of our professional indemnity insurer are provided in Key Facts .
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2 Investment services
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2.1 We are not authorised by the Financial Conduct Authority to conduct Investment Business. If you require investment business services we will refer you to a firm authorised by the Financial Conduct Authority.
3 Commissions or other benefits
- 3.1 In some circumstances, commissions or other benefits may become payable to us or to one of our associates in respect of transactions we or such associates arrange for you, in which case you will be notified in writing of the amount and terms of payment. See Key Facts for whether the fees that would otherwise be payable by you will or will not be abated by such amounts. If we reduce the fees that we would otherwise charge by the amount of commission retained, we will apply the HMRC concession which allows VAT to be calculated on the net fee after deduction of the commission. You consent to such commission or other benefits being retained by us or, as the case may be, by our associates, without our, or their, being liable to account to you for any such amounts.
4 Client monies
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4.1 We may, from time to time, hold money on your behalf. Such money will be held in trust in a client bank account, which is segregated from the firm’s funds. The account will be operated, and all funds dealt with, in accordance with the Clients’ Money Regulations of our professional body (see Key Facts ).
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4.2 In order to avoid an excessive amount of administration, interest will only be paid to you where the amount of interest that would be earned on the balances held on your behalf in any calendar year exceeds £25. Any such interest would be calculated using the prevailing rate applied by the bank named in Key Facts for small deposits subject to the minimum period of notice for withdrawals. Subject to any tax legislation, interest will be paid gross.
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4.3 If the total sum of money held on your behalf is enough to give rise to a significant amount of interest or is likely to do so, then the money will be placed in a separate interest-bearing client bank account designated to you. All interest earned on such money will be paid to you. Subject to any tax legislation, interest will be paid gross.
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4.4 We will return monies held on your behalf promptly as soon as there is no longer any reason to retain those funds. In the unlikely event of us holding any unclaimed monies we reserve the
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Version: 2312
1.01
right to pay such monies to a registered charity in line with the guidelines set out in the Clients’ Money Regulations referred to above. We will not do this unless we have been unable to contact you for at least five years and we have taken reasonable steps to trace you and return the monies.
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4.5 If the firm is wholly owned and/or controlled by a single member, we are required under the client money regulations to appoint an alternate to administer the client bank account in the event of the death or incapacity of the principal. The alternate appointed by this firm is stated in Key Facts .
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5 Fees
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5.1 Our fees are computed on the basis of time spent on your affairs by the principals and our staff, including sub-contractors or consultants where necessary, and on the levels of skill and responsibility involved. Disbursements represent travel, accommodation and other expenses incurred in dealing with your affairs.
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5.2 If it is necessary to carry out work outside the responsibilities agreed with you for each service, we will advise you in advance. Any additional work will involve additional fees. Accordingly, we would like to point out that it is in your interests to ensure that your records etc. are completed to the agreed stage.
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5.3 Invoices are payable in full (including disbursements) in accordance with the terms set out on the invoice. If you do not accept that an invoiced fee is fair and reasonable you must notify us within 21 days of receipt, failing which you will be deemed to have accepted that payment is due.
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5.4 It is our normal practice to request that clients make arrangements to pay a proportion of their fee on a monthly standing order. These standing orders will be applied to fees arising from work agreed in this letter of engagement for the current and ensuing years. Once we have been able to assess the amount of work and time involved we would be grateful if you would agree to pay an amount to us on a regular basis.
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5.5 We reserve the right to charge interest on overdue accounts at the current rate under the Late Payment of Commercial Debts (Interest) Act 1998. We also reserve the right to terminate our engagement and cease acting if payment of any fees billed is unduly delayed. See Key Facts as to whether we accept settlement of fees by certain credit cards.
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5.6 If a client company, trust or other entity is unable or unwilling to settle our fees, we reserve the right to seek payment from the individual (or parent company) giving us instructions on behalf of the client, and we shall be entitled to enforce any sums due against the group company or individual nominated to act for you.
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5.7 Insofar as we are permitted to so by law or by professional guidelines, we reserve the right to exercise a lien over all funds, documents and records in our possession relating to all engagements for you until all outstanding fees and disbursements are paid in full.
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5.8 In the event that we cease to act in relation to your company’s affairs you agree to meet all reasonable costs of providing information to the company’s new advisers. In particular you agree to meet these costs where we are required by law to provide information to a successor firm.
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6 Retention of papers
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6.1 You have a legal responsibility to retain documents and records relevant to your financial affairs. During the course of our work we may collect information from you and others relevant to your tax and financial affairs. We will return any original documents to you if requested. Documents and records relevant to your tax affairs are required by law to be retained as follows:
Individuals, trustees and partnerships:
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with trading or rental income: five years and 10 months after the end of the tax year;
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otherwise: 22 months after the end of the tax year.
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Companies, Limited Liability Partnerships, and other corporate entities:
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six years from the end of the accounting period.
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Version: 2312
1.01
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6.2 Although certain documents may legally belong to you, we may destroy correspondence and other papers that we store electronically or otherwise that are more than seven years old, except documents we think may be of continuing significance. You must notify us in writing if you wish us to keep any document for a longer period.
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7 Conflicts of interest and independence
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7.1 We reserve the right during our engagement with you to deliver services to other clients whose interests might compete with yours or are or may be adverse to yours, subject to clause 8 below. We confirm that we will notify you immediately should we become aware of any conflict of interest involving us and affecting you unless we are unable to do so because of our confidentiality obligations. We have safeguards that can be implemented to protect the interests of different clients if a conflict arises. Where conflicts are identified which cannot be managed in a way that protects your interests then we regret that we will be unable to provide further services.
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7.2 During and after our engagement, you agree that we reserve the right to act for other clients whose interests are or may compete with or be adverse to yours, subject, of course, to our obligations of confidentiality and the safeguards set out in the paragraph on confidentiality below.
-
8
Confidentiality
-
8.1 We confirm that where you give us confidential information we shall at all times keep it confidential, except as required by law or as provided for in regulatory, ethical or other professional statements relevant to our engagement.
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8.2 You agree that, if we act for other clients who are or who become your competitors, to comply with our duty of confidentiality, it will be sufficient for us to take such steps as we think appropriate to preserve the confidentiality of information given to us by you, both during and after this engagement. These may include taking the same or similar steps as we take in respect of the confidentiality of our own information.
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8.3 In addition, if we act for other clients whose interests are or may be adverse to yours, we will manage the conflict by implementing additional safeguards to preserve confidentiality. Safeguards may include measures such as separate teams, physical separation of teams, and separate arrangements for storage of, and access to, information.
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8.4 You agree that the effective implementation of such steps or safeguards as described above will provide adequate measures to avoid any real risk of confidentiality being impaired.
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8.5 We may, on occasions, subcontract work on your affairs to other tax or accounting professionals. The subcontractors will be bound by our client confidentiality terms. You may additionally need to consider your data protection responsibilities.
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8.6 We will inform you of the proposed use of a subcontractor before they commence work, except where your data will not be transferred out of our systems and the subcontractor is bound by the confidentiality terms equivalent to an employee.
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8.7 If we use external or cloud-based systems, we will ensure confidentiality of your information is maintained.
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8.8 This clause applies in addition to our obligations as to data protection below.
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9 Quality control
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9.1 As part of our ongoing commitment to providing a high quality service, our files are periodically subject to an independent regulatory or quality review. Our reviewers are highly experienced and professional people and are, of course, bound by the same requirements of confidentiality as our principals and staff.
Dealing with HM Revenue & Customs
- 9.2 When dealing with HMRC on your behalf we are required to be honest and to take reasonable care to ensure that your returns are correct. To enable us to do this, you are required to be honest with us and to provide us with all necessary information in a timely manner. For more information about ‘Your Charter’ for your dealings with HMRC, see
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1.01
https://www.gov.uk/government/publications/hmrc-charter. To the best of our abilities, we will ensure that HMRC meet their side of the Charter in their dealings with you.
- 9.3 We will take account of the steps and checks suggested by HMRC in their ‘Agent Toolkits’. While use of the Toolkits is voluntary, we will ensure that our quality control procedures match or enhance the suggestions in the Toolkits so that, in the unlikely event that HMRC consider any of your tax returns with which we assist to be inaccurate, we will be able to help you demonstrate to HMRC that reasonable care has been taken in the preparation of the return, thereby significantly reducing the possibility of an inaccuracy penalty being imposed. To further reduce the possibility of an inaccuracy penalty, you will remain responsible for maintaining good quality supporting records for each return, for providing us with all relevant information and explanations and for acting on any advice that we give you.
10 Help us to give you the right service
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10.1 We are committed to providing you with a high quality service that is both efficient and effective. If at any time you would like to discuss with us how our service to you could be improved, or if you are dissatisfied with the service you are receiving, please let us know, by contacting the principal contact named in Key Facts .
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10.2 We undertake to look into any complaint carefully and promptly and do all we can to explain the position to you. We will acknowledge your letter within five working days of its receipt and endeavour to deal with your complaint within eight weeks. If we do not answer your complaint to your satisfaction you may of course take up the matter with our professional body (see Key Facts ).
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10.3 In order for us to provide you with a high quality service on an ongoing basis it is essential that you provide us with relevant records and information when requested, reply to correspondence in a timely manner and otherwise follow the terms of the agreement between us set out in this Standard Terms of Business and associated Engagement schedules. We therefore reserve the right to cancel the engagement between us with immediate effect in the event of:
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your insolvency, bankruptcy or other arrangement being reached with creditors;
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• failure to pay our fees by the due dates;
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either party being in breach of their obligations where this is not corrected within 30 days of being asked to do so.
11 Applicable law
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11.1 This engagement letter is governed by, and construed in accordance with the law as stated in Key Facts . The Courts will have exclusive jurisdiction in relation to any claim, dispute or difference concerning this engagement letter and any matter arising from it. Each party irrevocably waives any right it may have to object to any action being brought in those courts, to claim that the action has been brought in an inappropriate forum, or to claim that those courts do not have jurisdiction.
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11.2 If any provision in this Standard Terms of Business or any associated engagement schedules, or its application, are found to be invalid, illegal or otherwise unenforceable in any respect, the validity, legality or enforceability of any other provisions shall not in any way be affected or impaired.
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12 Changes in the law, in practice or in public policy
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12.1 We will not accept responsibility if you act on advice previously given by us without first confirming with us that the advice is still valid in light of any change in the law, public policy or your circumstances.
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12.2 We will accept no liability for losses arising from changes in the law or the interpretation thereof, practice, or public policy that are first published after the date on which the advice is given to the fullest extent permitted by applicable law.
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13 Internet communication
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13.1 Unless you instruct us otherwise we may, where appropriate, communicate with you and with third parties via email or by other electronic means.
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| 1.01 | |||
|---|---|---|---|
| 13.2 However, internet communications are capable of data corruption, non-receipt, delayed | 13.2 However, internet communications are capable of data corruption, non-receipt, delayed | ||
| receipt, inadvertent misdirection or interception by third parties. To reduce risk we have | |||
| firewalls and anti-virus software in place, however electronic communication is not absolutely | |||
| secure and we do not accept responsibility for any damage, loss, errors or problems that may | |||
| arise through the use of internet communication, including those caused by viruses or other | |||
| malware, and all risks connected with sending commercially sensitive information relating to | |||
| your business are borne by you. | |||
| 13.3 If you do not agree to accept this risk, you should notify us in writing that e-mail is not an | 13.3 If you do not agree to accept this risk, you should notify us in writing that e-mail is not an | 13.3 If you do not agree to accept this risk, you should notify us in writing that e-mail is not an | |
| acceptable means of communication. We will then communicate by alternate means, apart | |||
| from in situations in which electronic submission is mandatory. You accept that this is less | from in situations in which electronic submission is mandatory. You accept that this is less | ||
| time-efficient and will incur greater costs. | |||
| 13.4 We will never change our bank details without confirming this to you by posted letter. Any | 13.4 We will never change our bank details without confirming this to you by posted letter. Any | 13.4 We will never change our bank details without confirming this to you by posted letter. Any | |
| emailed or telephoned communications appearing to be from us which appear to include | |||
| changes to our bank details but which are not confirmed by post are fake and we accept no | |||
| liability for any loss caused to you through accepting such communications as genuine. | |||
| Similarly, always give us by hand or by post (as well as by email) details of your bank | Similarly, always give us by hand or by post (as well as by email) details of your bank | ||
| account. | |||
| 13.5 | It is the responsibility of the recipient to carry out a virus check on any attachments received. | ||
| 14 Data Protection | 14 Data Protection | ||
| 14.1 To enable us to discharge the services agreed under our engagement, and for other related | 14.1 To enable us to discharge the services agreed under our engagement, and for other related | ||
| purposes including updating and enhancing client records, analysis for management | |||
| purposes and statutory returns, crime prevention and legal and regulatory compliance, we | |||
| may obtain, use, process and disclose personal data about you / your business / company / | |||
| partnership / its officers and employees and shareholders (‘personal data’). | |||
| Data controller | |||
| 14.2 We confirm that we are each considered an independent data controller in relation to | 14.2 We confirm that we are each considered an independent data controller in relation to | ||
| personal data and that we will each comply with the relevant provisions of applicable data | |||
| protection legislation. | |||
| 14.3 You will also ensure that any disclosure of personal data to us complies with such legislation. | 14.3 You will also ensure that any disclosure of personal data to us complies with such legislation. | ||
| If you supply us with any personal data or confidential information you shall ensure you have | |||
| a lawful basis to pass it to us and will fully indemnify and hold us harmless if you do not have | |||
| such a basis and that causes us loss. If you are supplying us with personal data on the basis | |||
| of a power of attorney for anyone you must produce to us an original or certified copy of the | of a power of attorney for anyone you must produce to us an original or certified copy of the | ||
| power of attorney on demand. You must ensure you have provided the necessary information | power of attorney on demand. You must ensure you have provided the necessary information | ||
| to the relevant data subjects regarding its use. You may refer to our privacy notice at the web | |||
| address shown inKey Factsfor this purpose. | |||
| 14.4 As a separate data controller, we may receive subject access requests from data subjects | 14.4 As a separate data controller, we may receive subject access requests from data subjects | ||
| where they request copies of their personal data. We will co-operate with the request as per | |||
| our own internal procedures. Should an objection or request for data erasure happen, we will | |||
| assess each request on a case by case basis to establish the validity of the request. | |||
| 14.5 In the course of providing services to you, we may disclose personal data to other firms in our | 14.5 In the course of providing services to you, we may disclose personal data to other firms in our | 14.5 In the course of providing services to you, we may disclose personal data to other firms in our | |
| network, a regulatory body, a third party or a buyer of our business. As part of our operational | |||
| service, personal data supplied to us may be transferred between us and EEA/UK/USA where | service, personal data supplied to us may be transferred between us and EEA/UK/USA where | ||
| necessary. We will ensure that where any such data transfer takes place, it is covered by an | |||
| appropriate safeguard such as an adequacy decision. Where an adequacy decision is not | |||
| applicable another safeguard mechanism will be implemented, such as a standard contractual | applicable another safeguard mechanism will be implemented, such as a standard contractual | ||
| clause (SCC) to ensure that the transfer remains legal. Where cloud-based services are used | clause (SCC) to ensure that the transfer remains legal. Where cloud-based services are used | ||
| the relevant cloud services terms and conditions will apply. In some instances, the location of | |||
| data stored in the cloud may reside outside of the EEA/UK. |
On 28 June 2021, the European Commission approved the UK for adequacy. This means that the continuation of data flows between the UK and the EU will remain unaffected and we can rely on this mechanism for the terms under this agreement over the next four years until its review in June 2025.
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14.6 We confirm we have adequate security measures in place to protect personal data provided to us, including administrative, physical and technical safeguards.
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14.7 We will answer your reasonable enquiries to enable you to monitor compliance with this clause. If you need to contact us about any data protection issue, please contact the person detailed in Key Facts .
15 Limitation of third-party rights
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15.1 Persons who are not party to this agreement shall have no rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this agreement. This clause does not affect any right or remedy of any person which exists or is available otherwise than pursuant to that Act.
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15.2 The advice we give you is for your sole use and is confidential to you and will not constitute advice for any third party to whom you may communicate it, unless we have expressly agreed in writing that a specified third party may rely on our work. We will accept no responsibility to third parties, including any group company to whom the engagement letter is not addressed, your spouse, nor any family member of yours or your employer, for any aspect of our professional services or work that is made available to them.
16 Client identification
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16.1 In common with other professional services firms, we are required by the Proceeds of Crime Act 2002 and the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer) Regulations 2017 (MLR 2017) to:
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Maintain identification procedures for clients, beneficial owners of clients and persons purporting to act on behalf of clients;
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Maintain records of identification evidence and the work undertaken for the client; and
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Report in accordance with the relevant legislation and regulations.
We have a statutory obligation under the above legislation to report to the National Crime Agency (NCA) any reasonable knowledge or suspicion of money laundering. Any such report must be made in the strictest confidence. In fulfilment of our legal obligations, neither the firm’s principals nor may staff enter into any correspondence or discussions with you regarding such matters.
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16.2 If we are not able to obtain satisfactory evidence of your identity and where applicable that of the beneficial owners, we will not be able to proceed with the engagement.
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16.3 If you undertake business that requires you to be supervised by an appropriate supervisory authority to follow anti-money laundering regulations, including if you accept or make high value cash payments of €10,000 or more (or equivalent in any currency) in exchange for goods, you should inform us.
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16.4 Any personal data received from you to comply with our obligations under the MLR 2017 will be processed only for the purposes of preventing money laundering or terrorist financing. No other use will be made of this personal data unless use of the data is permitted by or under enactment other than the MLR 2017, or we have obtained the consent of the data subject to the proposed use of the data.
17 Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards
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17.1 Financial Institutions are required under Finance Act 2013, s. 222 (International agreements to improve tax compliance) and the International Tax Compliance Regulations 2015 (SI 2015/878), to carry out due diligence and reporting obligations in respect of:
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arrangements between the UK and another territory for the exchange of tax information for the purposes of the adoption and implementation of the Common Reporting Standard (CRS) developed by the Organisation for Economic Co-Operation and Development (OECD); and
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the agreement between the UK and the USA to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA).
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17.2 Under the regulations, Financial Institutions are required to collect and maintain information about the residence, and in the case of the USA the citizenship as well, of individuals and entities for whom they maintain financial accounts, and to report information to HMRC.
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17.3 The firm may offer corporate trustee services as a Financial Institution and so will have responsibility for compliance with the CRS and FATCA requirements for those trusts for which it provides a corporate trustee service.
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Most other firms will not be Financial Institutions, but may have clients that are Financial Institutions.
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17.4 Other Financial Institutions will require their clients to verify their tax residence for CRS and tax status under FATCA.
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17.5 If any member of the firm acts as a trustee, or the firm itself is a corporate trustee, the firm may have responsibility for compliance with the Regulations.
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17.6 Further guidance can be obtained from the HMRC, OECD and IRS websites.
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18 General Limitation of liability
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18.1 We will provide our services with reasonable care and skill. Our liability to you is limited to losses, damages, costs and expenses caused by our negligence or wilful default. However, to the fullest extent permitted by law, we will not be responsible for any losses, penalties, surcharges, interest or additional tax liabilities where you or others supply incorrect or incomplete information, or fail to supply any appropriate information or where you fail to act on our advice or respond promptly to communications from us or the tax authorities. Further, we will not be liable to you for any delay or failure to perform our obligations if the delay or failure is caused by circumstances outside our reasonable control. Subject to clause 18.5 below our liability to you shall be limited as set out in our engagement or other client letter.
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18.2 You will not hold us, our principal(s)/director(s), shareholders and staff, responsible, to the fullest extent permitted by law, for any loss suffered by you arising from any misrepresentation (intentional or unintentional) supplied to us orally or in writing. This applies equally to fraudulent acts, misrepresentation or wilful default on the part of any party to the transaction and their directors, officers, employees, agents or advisers. However, this exclusion shall not apply where such misrepresentation, withholding or concealment is or should (in carrying out the procedures which we have agreed to perform with reasonable care and skill) have been evident to us without further enquiry.
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18.3 You agree that you will not bring any claim in connection with services we provide to you against any of our partners, shareholders, directors or employees personally.
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18.4 Our work is not, unless there is a legal or regulatory requirement, to be made available to third parties without our written permission and we will accept no responsibility to third parties for any aspect of our professional services or work that is made available to them. You agree to indemnify us and our agents in respect of any claim (including any claim for negligence) arising out of any unauthorised disclosure by you or by any person for whom you are responsible of our advice and opinions, whether in writing or otherwise. This indemnity will extend to the cost of defending any such claim, including payment at our usual rates for the time that we spend in defending it and our legal fees on an indemnity basis.
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18.5 Nothing in this agreement shall exclude or limit our liability for death or personal injury caused by negligence nor for fraudulent misrepresentation or other fraud which may not as a matter of applicable law be excluded or limited.
19 Intellectual property rights and use of our name
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19.1 We will retain all intellectual property rights in any document prepared by us during the course of carrying out the engagement except where the law specifically states otherwise. You may only use such rights to the extent we agreed when engaged to provide services to you and may not resell or sublicense such rights without our further prior consent.
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19.2 You are not permitted to use our name in any statement or document that you may issue unless our prior written consent has been obtained. The only exception to this restriction would be statements or documents that in accordance with applicable law are to be made public.
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20 Draft/interim work or oral advice
- 20.1 In the course of our providing services to you we may provide advice or reports or other work products in draft or interim form, or orally. However, final written work products will always prevail over any draft, interim or oral statements. Where you request it, we will provide you with written confirmation of matters stated orally. Advice is valid as at the date it was given.
21 Interpretation
- 21.1 If any provision of our engagement letter or terms of business is held to be void for whatever reason, then that provision will be deemed not to form part of this contract, and no other provisions will be affected or impaired in any way. In the event of any conflict between these terms of business and the engagement letter or appendices, the relevant provision in the engagement letter or schedules will take precedence.
22
Internal disputes within a client
- 22.1 If we become aware of a dispute between the parties who own the business. or who are in some way involved in its ownership and management, it should be noted that our client is the business (unless we have agreed otherwise) and we would not provide information or services to one party without the express knowledge and permission of all parties. Unless otherwise agreed by all parties, we will continue to supply information to the registered office/normal place of business for the attention of the directors/proprietors/partners/trustees. If conflicting advice, information or instructions are received from different directors/principals in the business, we will refer the matter back to the board of directors/the partnership and take no further action until the board/partnership has agreed the action to be taken. In certain cases we reserve the right to cease acting for the business/client entirely.
23 Disengagement
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23.1 If we resign or are asked to resign, we will normally issue a disengagement letter to ensure that our respective responsibilities are clear.
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24 Probate-type services
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24.1 Key Facts specifies whether or not the firm is licensed or authorised for non-contentious probate services.
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24.2 As we are not licensed or authorised for the reserved legal activity of non-contentious probate, any work we do for you on closely aligned activities, such as estate administration or inheritance tax advice, will not be covered by a relevant Probate Compensation Scheme and you will not have access to the Legal Ombudsman, nor is our advice covered by legal professional privilege.
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1.02
LIMITATION OF LIABILITY
The purpose of this schedule is to set out the basis for limitation of liability as agreed with you.
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1.1 We have discussed with you the extent of our liability to you in respect of the professional services described within this engagement letter (the professional services), comprising the Summary Schedule of Services Provided , Key Facts and the relevant Engagement Schedules .
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1.2 The terms of the limitation of our liability in respect of our audit work, if applicable, is set out in Key Facts .
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1.3 Having considered both your circumstances and our own, we have reached a mutual agreement that the amount stated in Key Facts for the provision of all other services except audit represents a fair maximum limit to our liability as a firm in the event of any one claim arising in respect of the professional services. This maximum total liability includes any claims for loss or damage, however caused, whether in respect of breaches of contract, tort (including negligence) or otherwise in respect of the professional services and shall also include all other related costs including legal fees, interest, etc.
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1.4 We acknowledge that the limit in respect of our total aggregate liability will not apply to any acts, omissions or representations that are in any way criminal, dishonest or fraudulent on the part of the firm, its principals/directors/members or employees.
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1.5 You have agreed that you will not bring any claim of a kind that is included within the subject of the limit of our liability against any of our firm’s principals/directors/members or employees on a personal basis.
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3.03
UNINCORPORATED CHARITY / CHARITABLE INCORPORATED ORGANISATION (CIO) – ACCRUALS: INDEPENDENT EXAMINATION
The purpose of this schedule and the Standard Terms of Business is to set out the basis on which we are to act as accountant and advisors to the unincorporated charity/CIO (the charity) in respect to the independent examination you have requested us to carry out under the Charities Act 2011 (ChA 2011) and to clarify our respective responsibilities in respect of that work.
Our firm will act as independent examiners with the person listed in Key Facts acting as the independent examiner.
1 Your responsibilities as trustees
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1.1 Our independent examination will be conducted on the basis that you acknowledge and understand that you have responsibility:
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(a) to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of the incoming resources and application of resources of the charity in that year in accordance with the ChA 2011 and regulations thereunder;
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(b) in preparing the account and statement, to:
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(i) select suitable accounting policies and then apply them consistently;
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(ii) make judgments and accounting estimates that are reasonable and prudent; and
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(iii) prepare the financial statements on the going concern basis, considering in particular the charity’s ability to continue in operation for at least twelve months from the date when the financial statements are expected to be approved, unless it is inappropriate to presume that the activities of the charity will continue;
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(c) for ensuring that the charity maintains sufficient accounting records which disclose with reasonable accuracy at any time the financial position of the charity. You are also responsible for such internal control as you determine is necessary to enable the preparation of financial statements that are free from material misstatement whether due to fraud or error; and
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(d) for safeguarding the assets of the charity and hence for taking reasonable steps to ensure the charity’s activities are conducted honestly and for the prevention and detection of fraud and other irregularities.
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1.2 You have a duty to prepare an annual report for each financial year complying in its form and content with the ChA 2011 and regulations thereunder. You are also required to have regard to the relevant Statement of Recommended Practice Accounting and Reporting by Charities , published jointly by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulators, and any subsequent amendments or variations to this statement.
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1.3 You are responsible for ensuring that the charity complies with laws and regulations applicable to its activities, and for establishing arrangements designed to prevent any noncompliance with laws and regulations and to detect any that occur.
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1.4 You are also responsible for determining whether, in respect of the year, the charity meets the conditions for exemption from an audit set out in ChA 2011, s. 144, namely that:
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(a) the charity’s gross income in the current year is more than £25,000, but not more than £500,000 in the current year for years ending before 31 March 2015, or £1m for years ending on or after this date;
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(b) the gross assets of the charity are less than £3.26m; or where they exceed £3.26m, gross income is less than £250,000; and
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(c) no notice has been received from the Charity Commission requiring an audit.
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1.5 If, in respect of the year, the charity satisfies the above criteria, the availability of the exemption from an audit of the financial statements is conditional upon your causing an independent examiners’ report to be prepared in respect of the financial statements in accordance with ChA 2011, s. 145. You are responsible for deciding whether that report shall be made and for appointing us as independent examiners to make that report to the trustees of the charity.
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1.6 If gross income falls to £25,000 or less for the year, then, provided the other criteria set out above are met, you will need neither an audit nor an independent examiner’s report. However, if the charity is a CIO it will still need to file financial statements with the Charity Commission.
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1.7 You have undertaken to make available to us, as and when required, all of the charity's accounting records and related information, including minutes of trustees' meetings and of all appropriate management meetings, necessary to carry out our work. You will make full disclosure to us of all relevant information.
2 Our responsibilities as independent examiners
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2.1 We shall plan our work on the basis that an independent examiner’s report is required for the year, unless you inform us in writing that either:
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(a) the charity requires an audit of the financial statements; or
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(b) the charity requires neither an audit nor an independent examiner’s report.
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2.2 Should you instruct us to carry out an audit, then the terms of that assignment will be dealt with in a new engagement letter. Should you inform us that the charity requires neither an audit nor an independent examiner’s report, then we shall have no responsibilities to the charity, except those specifically agreed upon between us in respect of other professional services.
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2.3 As independent examiners, we have a statutory responsibility to report to the trustees of the charity whether, in our opinion, there is reasonable cause to believe that, in any material respect:
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(a) sufficient accounting records have not been kept, contrary to the requirements of ChA 2011, s. 130;
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(b) the financial statements do not agree with those accounting records; or
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(c) the financial statements do not comply with any of the accounting requirements specified in the Charities (Accounts and Reports) Regulations 2008 (SI 2008/629), Regulation 4 (or 5 for common investment funds or common deposit funds) and applicable accounting standards as stated in Key Facts , except to the extent necessary to show a true and fair view.
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2.4 Should our work indicate that the charity is not entitled to exemption from an audit of the financial statements then we will inform you. In such circumstances, we will not issue any report and will withdraw from the engagement to prepare an independent examiner’s report, notifying you in writing of the reasons. In these circumstances, if appropriate, we will discuss with you the possibility of appointing us as auditors.
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2.5 We have a professional responsibility not to allow our name to be associated with financial statements that are, or may be, misleading. Therefore, although we are not required to search for such matters, should we become aware, for any reason, that the financial statements are, or may be, misleading, if the matter cannot be adequately dealt with by means of qualifying our opinion (or by other appropriate modifications of the report), we will not issue any report. In such circumstances, we will withdraw from the engagement, and will notify you in writing of the reasons.
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2.6 Under ChA 2011, s. 156(2), we have a statutory duty to make a written report to the Charity Commission on such matters (which relates to the activities or affairs of the charity or of any connected institution or body) of which we become aware during the course of our
examination and which we have reasonable cause to believe is likely to be of material A
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significance for the purposes of the exercise by the Commission of its functions under ChA 2011, s. 156(3). In addition under s. 156(4) if we become aware of any matter which is not required to be reported under s. 156(2) but which we have reasonable cause to believe is likely to be relevant for the purposes of the exercise by the Charity Commission of any of its functions, then we may make a report on the matter to the Commission. We may have to make this report without your knowledge and consent and we cannot undertake to you to fetter this discretion in any manner.
Scope of independent examination
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2.7 Our work as independent examiners will be carried out in accordance with guidance for such engagements issued by the Charity Commission. It will consist of comparing the financial statements with the accounting records kept by the charity, and making such limited enquiries of the trustees and staff of the charity as we may consider necessary for the purpose of our report.
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2.8 As part of our normal procedures, we may request you to provide written confirmation of any information or explanations provided by you orally during the course of our work.
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2.9 Our work as independent examiners will not be an audit of the financial statements in accordance with International Standards on Auditing (UK). Accordingly, we will not obtain any independent evidence relating to entries in the accounting records, or to the amounts or disclosures in the financial statements. Consequently our work as independent examiners will not provide any assurance that the accounting records or the financial statements are free from material misstatement whether caused by fraud, other irregularity or error.
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2.10 Because we will not carry out an audit, nor otherwise confirm the sufficiency of the accounting records maintained by the charity, we will be unable to provide any assurance as to whether the financial statements that we prepare from those records give a true and fair view.
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5.01
PRODUCTION OF ANNUAL FINANCIAL STATEMENTS ONLY
The purpose of this schedule and the Standard Terms of Business is to set out the basis on which we are to act as accountants and advisors with regard to the production of the entity’s financial statements on an accruals basis in accordance with applicable accounting standards, and to clarify our respective responsibilities in respect of that work.
The entity’s financial statements will be prepared in accordance with the accounting basis stated in Key Facts . We will then go on to either audit or perform some other assurance work on those financial statements, as stated in Key Facts section 2 or 3, or another firm will perform such work on the financial statements.
We will communicate with the person named in Key Facts in relation to the entity’s affairs having agreed with you that he/she may represent the entity in its financial affairs.
1 Your responsibilities
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1.1 You have agreed that your staff will maintain all accounting records, except as detailed in paragraph 2.4 below.
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1.2 You are responsible for ensuring that, to the best of your knowledge and belief, financial information, whether used by the entity or for the financial statements, is accurate and complete. You are also responsible for ensuring that the activities of the entity are conducted honestly, and for safeguarding the assets of the entity and for taking reasonable steps to ensure the prevention and detection of fraud.
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1.3 You are responsible for ensuring that the entity complies with the laws and regulations that apply to its activities, for preventing non-compliance, and for detecting any that occurs.
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1.4 You have agreed to make available to us, as and when required, all your accounting records and related financial information, including any minutes of directors/partnership/management/trustee meetings, necessary to carry out our work. You have agreed to provide us with all information and explanations relevant to the purpose and compilation of the financial statements, and you will disclose to us all relevant information in full.
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1.5 You will approve and sign the financial statements, thereby acknowledging responsibility for them, including the appropriateness of the accounting basis on which they are compiled, and for providing us with all information and necessary explanations necessary for their compilation. It is your responsibility to ensure that these financial statements give a true and fair view, where appropriate, and have been prepared in accordance with the relevant statutory requirements.
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1.6 Financial statements need to be completed prior to submission of the tax return. Failure to submit the return on time will result in penalties and is likely to result in interest and surcharges. In order to avoid this, we must have your accounting records by the date stated in Key Facts , and queries raised on those accounting records must be answered promptly, otherwise we cannot guarantee the completion of the financial statements to ensure the tax return’s timely submission.
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1.7 You are also responsible for deciding whether, in each financial year, the entity meets the conditions for exemption from an audit, and for deciding whether the exemption can be claimed that year.
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2 Our responsibilities as accountants
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2.1 The financial statements are required to enable profits to be calculated to meet the requirements of the relevant tax legislation and that provide sufficient and relevant information to complete a tax return. We will compile the financial statements in accordance with the requirements of relevant laws and regulations.
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2.2 We will compile the financial statements for your approval based on the accounting records that you maintain and the information and explanations that you give us.
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2.3 If the entity is a company or LLP and qualifies, under CA 2006 s. 444(1), to file only the balance sheet and associated notes at Companies House, it is assumed that the company/LLP wishes to file the minimum of information at Companies House. Therefore the financial statements for filing purposes will be prepared on that basis unless you inform us otherwise.
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2.4 Unless stated otherwise in Key Facts , we shall carry out the following bookkeeping services:
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(a) write up the accounting records insofar as they are incomplete when presented to us; and
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(b) complete the postings to the nominal ledger.
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2.5 We will write to you on or around your year-end date to request the information and records we will need to prepare the financial statements.
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2.6 Unless stated in Key Facts , we will not be carrying out an audit and accordingly will not verify the assets and liabilities of the entity, nor the items of expenditure and income. To carry out an audit would require additional work to comply with International Standards on Auditing (UK) so that we could report on the truth and fairness of the financial statements.
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2.7 We would emphasise that we cannot undertake to discover any shortcomings in your systems or any irregularities on the part of your employees, although we will advise you of any such circumstances that we encounter in preparing your financial statements.
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2.8 We have a professional duty to compile financial information that conforms with the generally accepted accounting principles selected by the directors/partners/trustees as being appropriate for the purpose for which the information is prepared. The accounting basis on which the information has been compiled, its purpose and limitations will be disclosed in an accounting policy note to the financial information and will be referred to in any accountants’ report.
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2.9 We also have a professional responsibility not to allow our name to be associated with financial information which we believe may be misleading. Therefore, although we are not required to search for such matters, should we become aware, for any reason, that the financial information may be misleading, we will discuss the matter with you with a view to agreeing appropriate adjustments and/or disclosures in the financial information. In circumstances where adjustments and/or disclosures that we consider appropriate are not made or where we are not provided with appropriate information, and as a result we consider that the financial information is misleading, we will withdraw from the engagement. In these circumstances you agree that we have a right to invoice you for our time spent preparing and discussing the financial statements with you and for time spent on any other work that is not completed as a result of our resignation.
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2.10 To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than you for our work. If you wish, or are asked, to provide a copy of the financial statements to a third party you must seek our consent before you do this. You are not entitled to disclose our work to a third party without our express permission.
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CR
CLIENT RESPONSE
We acknowledge receipt of this letter and confirm we have read and understood the contents of this letter and the attached schedules. We also confirm that the Summary schedule of services provided, Key Facts and the Engagement Schedules , together with the Standard terms of business and the Limitation of liability schedules, fully records the agreement between us concerning your appointment to carry out the work described in the schedules.
martin llewellyn Martin Llewellyn 01/04/2025 Name _____ Signed ____ Date __ Martin Llewellyn (Apr 1, 2025 12:34 GMT+1)
Title Trustee
For and on behalf of The British Society for Parasitology
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Final Audit Report
BSP FY24 accounts
2025-04-25
Created: 2025-03-28 By: Katie Squire (katie@anovagroup.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAwZhxDArj3g6RZfJJT7HCVTub9NAT6atQ
"BSP FY24 accounts" History
Document created by Katie Squire (katie@anovagroup.co.uk) 2025-03-28 - 12:58:02 PM GMT
Document emailed to Martin Llewellyn (martin.llewellyn@glasgow.ac.uk) for signature 2025-03-28 - 12:58:09 PM GMT
Document emailed to Poppy Lamberton (poppy.lamberton@glasgow.ac.uk) for signature 2025-03-28 - 12:58:09 PM GMT
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Email viewed by Martin Llewellyn (martin.llewellyn@glasgow.ac.uk) 2025-04-01 - 11:32:39 AM GMT
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Email viewed by Poppy Lamberton (poppy.lamberton@glasgow.ac.uk) 2025-04-06 - 12:26:04 PM GMT Email viewed by Katie Squire (katie@anovagroup.co.uk) 2025-04-11 - 3:12:47 PM GMT
Email viewed by Poppy Lamberton (poppy.lamberton@glasgow.ac.uk) 2025-04-24 - 1:01:21 PM GMT
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Document e-signed by Poppy Lamberton (poppy.lamberton@glasgow.ac.uk) Signature Date: 2025-04-24 - 2:04:24 PM GMT - Time Source: server
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Agreement completed.
2025-04-25 - 3:24:51 PM GMT