|CONTENTS||||Page| |---|---|---|---|---| |Trustees'
Annual|Report (including|administrative|details)|| |Independent
Auditor's
Report||||16| |Group Statement|of Financial Activities|||20| |Balance Sheets||||21| |Group Statement|ofCashflows|||22| |Notes forming
part ofthe financial||statements||23| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Charity registration|Charity registration|Charity registration|number|number|1172020|| |---|---|---|---|---|---|---| |Company||registration||number|10523525|| |Trustees|||||Kostas Papagiannopoulos|| ||||||Alessandro|Brunelli| ||||||Prof Jaroslaw Kuzdzal|| ||||||Isabelle Schmitt-Opitz|| |Registered||Address|||Centenary
House|| ||||||Peninsula
Park|| ||||||Rydon Lane|| ||||||Exeter|| ||||||EX27XE|| |Executive||director|||Mrs SHesford|| |Address|||||PO Box159|| ||||||Exeter|| ||||||EX25SH|| |Bankers|||||Royal Bank|ofScotland (RBS)| ||||||Drummond|House| ||||||1 Redheughs|Avenue| ||||||Edinburgh|| ||||||EH12 9JN|| |Statutory|auditor||||PKF Francis|Clark| ||||||Centenary
House|| ||||||Peninsula
Park|| ||||||Rydon Lane|| ||||||Exeter|| ||||||EX27XE|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||Year|| |---|---|---|---|---|---|---| ||||||ended 31|Year ended| ||||Unrestricted|Restricted|March|31March| ||||Funds|Funds|2022|2021| |Income||Note||||| |Donations and legacies||||||| |Donations
and sponsorship||||308,000|308,000|121,720| |Charitable
activities||||||| |Membership
fees|||278,029||278,029|270,603| |Registration
fees|||73,299||73,299|75,480| |Teaching school fees|||51,325||51,325|3,500| |ESMO ELCC profit share
8'" International
Thoracic Oncology|||96,174||96,174|40,380| |Symposium
profit share|||3,157||3,157|| |Other trading activities||||||| |Website advertising|||6,500||6,500|| |ESTStextbook||||||215| |Income from Investments||||||| |Interest receivable|||33||33|108| |Exchange rate gains/(losses)|||(110)||(110)|15,860| |Total Income|||508,407|308,000|816,407|527,866| |Expenditure
on||||||| |Raising Funds||10|206||206|264| |Charitable
activities||11|141,204|308,000|449,204|461,824| |Total expenditure|||141,410|308,000|449,410|462,088| |Net income and net movement|offunds|||||| |for the period|||366,997||366,997|65,778| |Reconciliation
offunds||||||| |Total funds brought
forward|||1,138,969|12,165|1,151,134|1,085,356| |Total funds carried forward|||1,505,966|12,165|1,518,131|1,151,134| ## ## ## |||||||31 March 2022|31 March 2022|31 March|2021| |---|---|---|---|---|---|---|---|---|---| |||||||Group|Charity|Group|Charity| ||||||Note||||| |Fixed assets|||||||||| |Tangible assets
Investments|||||15
16|2,208|2,208
100|2,870|2,870
100| |||||||2,208|2,308|2,870|2,970| |Current assets|||||||||| |Stocks|||||17|1,212|1,212|1,496|1,496| |Debtors|||||18|485,134|643,384|256,824|415,074| |Cash at bank|and|in|hand||19|2,281,433|2,056,888|1,312,587|1,087,994| |Total Current Assets||||||2,767,779|2,701,484|1,570,907|1,504,564| |Liabilities|||||||||| |Creditors: amounts|||falling||||||| |due within one year|||||20|(1,251,856)|(1,185,613)|(422,643)|(356,400)| |Net current|assets|||||1,515,923|1,515,871|1,148,264|1,148,164| |Total assets|less|current||liabilities||1,518,131|1,518,179|1,151,134|1,151,134| |Net assets||||||1,518,131|1,518,179|1,151,134|1,151,134| |Funds|||||||||| |Restricted
income||funds|||21|12,165|12,165|12,165|12,165| |Unrestricted|funds|||||1,505,966|1,506,014|1,138,969|1,138,969| |Total funds||||||1,158,131|1,518,179|1,151,134|1,151,134| ## ## ## |||||||Group|Group| |---|---|---|---|---|---|---|---| |||||||2022|2021| ||||||Note||| |Cash used in operating
activities|||||25|968,923|116,614| |Cashflows
from investing|activities||||||| |Interest income||||||33|108| |Purchase oftangible
fixed assets|||||||| |Cash provided
by (used in) investing|||activities|||33|108| |Change
in cash and cash|equivalents||in the|year||968,956|116,722| |Cash and cash equivalents|at the|beginning||ofyear||1,312,587|1,180,005| |Change
in cash and cash|equivalents||due to||||| |exchange rate movement||||||(110)|15,860| |Total cash and cash equivalents||at the end ofyear||||2,281,433|1,312,587| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||Year ended|Year ended| |---|---|---| ||31 March|31March| ||2022|2021| |Sponsorship
ESTSCommittee
for research
and education|1,000|1,000
220| |Grillo Prize||500| |Medtronic Sponsorship
(formerly
Covidien) —Virtual Congress 2020||29,000| |Medtronic Sponsorship
(formerly
Covidien) —Virtual Congress 2021|50,000|| |Medtronic Sponsorship
(formerly
Covidien) —Robotic Database support
Medela Sponsorship
—Virtual Congress 2020|15,000|25,000| |Medela Sponsorship
—Virtual Congress 2021
Johnson
&Johnson —Virtual Congress 2020|25,000|25,000| |Johnson
&Johnson —Virtual Congress 2021|25,000|| |Johnson
&Johnson —Satellite industry
Webinar 2020||8,000| |Astrazeneca —Virtual Congress 2020||15,000| |Astrazeneca
—Virtual Congress 2021|50,000|| |Intuitive
Surgical —Virtual Congress 2020||8,000| |Intuitive
Surgical —Virtual Congress 2021|19,500|| |Roche —Virtual Congress 2021|25,000|| |Eziburg Global Trading —Virtual Congress 2021|50,000|| |Bristol Myers Squibb —Virtual Congress 2021|15,000|| |Stryker Pacific —Virtual Congress 2021
Baxter Healthcare —VATS webinar series 2021|12,500
20,000|10,000| ||308,000|121,720| ## ## ## ## ||Year ended|Year ended| |---|---|---| ||31 March|31March| ||2022|2021| |Virtual Congress 2020||69,880| |Virtual Congress 2021|73,299|| |Ljubljana 2018||5,600| ||73,299|75,480| ## |||Year ended|Year ended| |---|---|---|---| |||31 March|31March| |||2022|2021| |Knowledge|Track —May 2021 - Virtual|10,650|| |Knowledge|Track —March 2022 —Prague|22,675|| |Institutional|accreditation|18,000|| |Webinar Services VATS —March 2021|||3,500| |||51,325|3,500| ## ## ## ## ## |Inco|me from|Investments||||| |---|---|---|---|---|---|---| ||||Year|ended|Year|ended| ||||31|March|31|March| |||||2022||2021| |Bank|interest|receivable||33||108| |Exchange rate|gain/(loss)||| |---|---|---|---| |||Year ended|Year ended| |||31 March|31March| |||2022|2021| |Gains/(losses)|on foreign currency|(110)|15,860| |||(110)|15,860| ## |Expenditure|on raising funds||| |---|---|---|---| |||Year ended|Year ended| |||31 March|31March| |||2022|2021| |Membership|ties|206|264| |ESTStextbook|||| |||206|264| ## ## ## |Expenditure
on charitable
acti|viti|es||||| |---|---|---|---|---|---|---| ||||||Year ended|Year ended| ||||||31March|31March| ||||||2022|2021| |Conference
facilities||||||| |Membership
costs|||||3,839|4,310| |ERS membership
fees|||||3,150|2,250| |Journal of Cardio Thoracic Surgery|||||17,160|66,270| |Grillo Prize||||||| |Prizes and awards|||||4,000|4,000| |Travelling
fellowships||||||| |Ethicon China fellowship||||||| |Membership
fees not collected|||||44,135|38,010| |Conference facilities - Council meetings|||||2,114|4,167| |Website expenses|||||14,354|34,497| |Directors travel expenses|||||105|| |Other committee
travel expenses|||||3,718|159| |Teaching school costs —Prague|March|||||(4,194)| |Teaching school costs - ERS on|thoracic||oncology|Hamburg||1,067| |Teaching school costs —MIEAC|course Istanbul|||||3,288| |Teaching school costs —VATS lobectomy|||Hamburg|||148| |Teaching school costs —Knowledge||Track —May 2021 —Virtual|||175|| |Teaching school costs —Knowledge||Track —March||2022 —Prague|1,344|| |ESTSwebinar|||||3,392|6,074| |Conference
organiser costs|||||152,623|122,097| |Dendrite database|||||44,225|39,475| |Teaching school costs - other|||||8,345|8,419| |Salaries|||||97,285|84,521| |Office costs|||||28,137|26,151| |CME accreditation
costs||||||| |Bookkeeping costs|||||5,440|3,780| |Depreciation|||||662|869| |Governance
costs:-||||||| |Audit and accountancy|costs||||14,960|16,115| |Other|||||41|351| ||||||449,204|461,824| ## ## |This is stated after charging:|This is stated after charging:||| |---|---|---|---| |||2022|2021| |Depreciation||662|869| |Auditor's|remuneration:||| ||Audit ofthe financial statements|8,300|7,800| ||Other services|6,660|8,666| ## |otal staff costs were as follows:||| |---|---|---| ||Year ended|Year ended| ||31March|31March| ||2022|2021| |Wages and salaries
Social security costs
Pension contributions|85,617
10,147
1,521|74,297
8,754
1,470| ||97,285|84,521| |The average number of employees
during the|period, calculated
on the basis ofhea|dcount,
w|as as f|ollows:| |---|---|---|---|---| ||Year|ended|Year|ended| ||31|March|31|March| |||2022||2021| |||No.||No.| |Administration||1||1| ## ## |15. Tangible fix|ed assets —group and charity|||| |---|---|---|---|---| |||Computer|Office|| |||Equipment|Equipment|Total| |Cost||||| |At 31 March 2021||24,641|3,361|28,002| |Additions||||| |At 31 March 2022||24,641|3,361|28,002| |Depreciation||||| |At 31 March 2021||22,331|2,801|25,132| |Charge for the year||578|84|662| |At March 2022||22,909|2,885|25,794| |Net book values||||| |At 31 March 2022||1732|476|2,208| |At 31 March 2021||2,310|560|2,870| |16. Investments|- Charity|||| ||||2022|2021| |Cost at 31 March|2021 and 31 March 2022||100|100| |Net book value|at 31 March 2022||100|100| ## ## ## |16. Investments|—Charity (continued)|||| |---|---|---|---|---| ||||2022|2021| |Summary
profit|and loss account for year ended 31December|||| |Turnover||||| |Cost ofsales and|administrative
expenses||(798)|(819)| |Operating
loss|||(798)|(819)| |The assets and
Current assets|liabilities ofthe subsidiary|were:|224,545|224,593| |Creditors: amounts
falling due within one year|||(238,567)|(237,817)| |Total assets less|current
liabilities||(14,022)|(13,224)| |Aggregate
share|capital and reserves||(14,022)|(13,224)| ## ||||Group|Charity|Group|Charity| |---|---|---|---|---|---|---| ||||2022|2022|2021|2021| |Goods|for|resale|1,212|1,212|1,496|1,496| ||||1,212|1,212|1,496|1,496| ## |8. Debtors|||||| |---|---|---|---|---|---| |||Group|Charity|Group|Charity| |||2022|2022|2021|2021| |Trade debtors||185,449|185,449|178,738|178,738| |Amounts
due
Prepayments|from subsidiary
6accrued income|299,685|158,250
299,685|78,086|158,250
78,086| |||485,134|643,384|256,824|415,074| ## ## ## |9. Cash at Bank|||||| |---|---|---|---|---|---| |||Group|Charity|Group|Charity| |||2022|2022|2021|2021| |Euro current account||1,567,358|1,567,358|671,767|671,767| |Euro current account —trading|subsidiary|224,545||224,593|| |Bank deposit account||89,540|89,540|71,349|71,349| |Sterling current account||399,990|399,990|344,878|344,878| |||2,281,433|2,056,888|1,312,587|1,087,994| ## |||Group|Charity|Group|Charity| |---|---|---|---|---|---| |||2022|2022|2021|2021| |Trade creditors||20,049|19,942|21,465|21,358| |Other creditors||46,537|46,537|44,414|44,414| |Membership
fees in advance||201,667|201,667|199,306|199,306| |Accruals||29,777|29,777|33,572|33,572| |Other deferred|income|953,826|887,690|123,886|57,750| |||1,251,856|1,185,613|422,643|356,400| ## ## ## |1. Restricted fun|ds|||||| |---|---|---|---|---|---|---| |||Balance at|Incoming|Outgoing||Balance at 31| |||1 April 2021|resources|resources|Transfers|March 2022| |Restricted funds||||||| |ESTSCommittee|for|||||| |research
and education||12,165||||12,165| |Medtronic
(Covidien)|||65,000|(65,000)||| |Grillo Prize||||||| |Prizes and awards|||1,000|(1,000)||| |Medela|||25,000|(25,000)||| |Johnson 5Johnson|||25,000|(25,000)||| |Astrazeneca|||50,000|(50,000)||| |Intuitive
Surgical|||19,500|(19,500)||| |Roche|||25,000|(25,000)||| |Eziburg Global Trading|||50,000|(50,000)||| |Bristol Myers Squibb|||15,000|(15,000)||| |Stryker Pacific|||12,500|(12,500)||| |Baxter Healthcare|||20,000|(20,000)||| |Total||12,165|308,000|(308,000)||12,165| ## ## ## ## ## ## ## ## ## ||||Balance at|Incoming|Outgoing||Balance at 31| |---|---|---|---|---|---|---|---| ||||1 April 2020|resources|resources|Transfers|March 2021| |Restricted|funds||||||| |ESTSCommittee||for|||||| |research
and education|||11,945|220|||12,165| |Medtronic|(Covidien)|||29,000|(29,000)||| |Grillo Prize||||500|(500)||| |Prizes and|awards|||1,000|(1,000)||| |Ethicon|||||||| |Medela Annual
Meeting||||25,000|(25,000)||| |Johnson 8|Johnson|||33,000|(33,000)||| |MedXpert||||15,000|(15,000)||| |Astrazeneca||||8,000|(8,000)||| |Philips Medical Systems||||10,000|(10,000)||| |Total|||11,945|121,720|121,500||12,165| ## ## ## ## ## ## ## ## |||Unrestricted|Restricted|Total Funds| |---|---|---|---|---| |||Funds|Funds|| |Tangible fixed assets||2,208||2,208| |Cash at bank and|in hand|2,269,268|12,165|2,281,433| |Other net current|liabilities|(765,510)||(765,510)| |||1,505,966|12,165|1,518,131| |||Unrestricted|Restricted|Total Funds| |---|---|---|---|---| |||Funds|Funds|| |Tangible fixed assets||2,870||2,870| |Cash at bank and|in hand|1,300,422|12,165|1,312,587| |Other net current|liabilities|(164,323)||(164,323)| |||1,138,969|12,165|1,151,134| ## |||||Group 2022|Group 2021| |---|---|---|---|---|---| |Net income/(expenditure)||for the|period|366,997|65,778| |Adjustments:|||||| |Depreciation
charge||||662|869| |Interest received||||(33)|(108)| |Exchange rate (gains)/losses||||110|(15,860)| |Decrease /(increase)|in|stock||284|(271)| |(Increase)
/ decrease|in|debtors||(228,310)|158,574| |Increase /(decrease)|in|creditors||829,213|(92,368)| |Net cash provided
by operating|||activities|968,923|116,614| ##