2023-03-31-accounts

CONTENTS				Page
Trustees' Annual	Report (including	administrative	details)
Independent Auditor's Report				18
Group Statement	of Financial Activities			22
Balance Sheets				23
Group Statement	ofCashflows			24
Notes forming part ofthe financial		statements		25

					Year
					ended 31	Year ended
			Unrestricted	Restricted	March	31 March
			Funds	Funds	2023	2022
Income		Note				8
Donations and legacies
Donations and sponsorship			66,243	811,150	877,393	308,000
Charitable activities
Membership fees			286,925		286,925	278,029
Registration fees			402,480		402,480	73,299
Teaching school fees			245,660		245,660	51,325
ESMO ELCC profit share						96,174
8ix International Thoracic Oncology
Symposium profit share						3,157
MUO Airway profit share (Vienna	—March
2023)			38,038		38,038
Other trading activities
Website advertising			5,500		5,50D	6,500
ESTStextbook
Income from Investments
Interest receivable			1,619		1,619	33
Exchange rate gains/(losses)			(16,620)		(16,620)	(110)
Total Income			1,029,845	811,150	1,840,995	816,407
Expenditure on
Raising Funds		10	599		599	206
Charitable activities		11	670,581	81 'i, 150	1,481,731	449,204
Total expenditure			671,180	811,15D	1,482,330	449,410
Net income and net movement	offunds
for the period			358,665		358,665	366,997
Reconciliation offunds
Total funds brought forward			1,505,966	12,165	1,518,131	1,151,134
Total funds carried forward			1,864,631	12,165	1,876,796	1,518,131

					31 INarch 2023	31 INarch 2023	31 March 2022	31 March 2022
					Group	Charity	Group	Charity
				Note
Fixed assets
Tangible assets				15	1,704	1,704	2,208	2,208
Investments				16		100		100
					1,704	1,804	2,208	2,308
Current assets
Stocks				17	615	615	1,212	1,212
Debtors				18	605,140	829,585	485,134	643,384
Cash at bank	and	in hand		19	2,845,239	2,620,770	2,281,433	2,056,888
Total Current Assets					3,450,994	3,450,970	2,767,779	2,70L484
Liabilities
Creditors: amounts		falling
due within one year				20	(1,575,902)	(1,575,902)	(1,251,856)	(1,185,613)
Net current	assets				1,875,092	'1,875,068	1,515,923	1,515,871
Total assets	less	current	liabilities		1,876,796	1,876,872	1,518,131	1,158,179
Net assets					1,676,796	1,876,872	1,518,131	1,158,179
Funds
Restricted income		funds		21	12,165	12,165	12,165	12,165
Unrestricted	funds				1,864,631	1,864,707	1,505,966	1,506,014
Total funds					1,876,796	1,876,872	1,518,131	1,518,179

						Group	Group
						2023	2022
					Note
Cash used in operating activities					25	578,807	968,923
Cash(lowe from investing	activities
Interest income						1,619	33
Purchase cftangible fixed assets
Cash provided by (used in) investing			activities			1,619	33
Change in cash and cash	equivalents		in the	year		580,426	968,956
Cash and cash equivalents	at the	beginning		ofyear		2,281,433	1,312,587
Change in cash and cash	equivalents		due to
exchange rate movement						(16,620)	(110)
Total cash and cash equivalents		at the end ofyear				2,845,239	2,281,433

Donations and sponsorship
			Year ended	Year ended
			31 March	31 March
			2023	2022
			6
Sponsorship			71,243	1,000
Grillo Prize
Medtronic Sponsorship (formerly Covidien) —Congress		2022, The Hague	121,000
Medtronic Sponsorship (formerly Covidien) —Virtual	Congress 2021			50,000
Medtronic Sponsorship (formerly Covidien) —Robotic Database support				15,000
Medtronic Sponsorship —VATS Lobectomy Advanced,		Nov 2022	18,0DD
Medtronic Sponsorship —Esophageal course, Dec 2022			7,52D
Medtronic Sponsorship —Women in Thoracic Surgery, Dec 2022			50,0 DO
Medtronic Sponsorship —Thoracic Oncology, Feb 2023			30,0 DO
Medela Sponsorship —Congress 2022, The Hague			53,000
Medela Sponsorship —Virtual Congress 2021				25,000
Johnson 8 Johnson —Congress 2022, The Hague			72,000
Johnson &Johnson —Virtual Congress 2021				25,000
Astrazenecs —Congress 2022, The Hague			10D,DDD
Astrazeneca —Virtual Congress 2021				50,000
Astrazeneca —Thoracic Oncology, Feb 2023			3D,000
Asirazeneca —ESTSBiology Club Fellowship			15,000
Astrazeneca —ESTSTraining Observership Fellowship			15,000
Intuitive Surgical —The Hague 2022			45,900
Intuitive Surgical —Virtual Congress 2021				19,500
intuitive Foundation —Robotic Academy Fellowships			32,330
Roche —Congress 2022, The Hague			62,500
Roche —Virtual Congress 2021				25,000
Roche —Thoracic Oncology, Feb 2023			20,DOD
MSD —Congress 2022, The Hague			34,500
Fengh Medical —Congress 2022, The Hague			19,900
Den Haag —Congress 2022, The Hague			31,500
Artricure —Congress 2022, The Hague			20,000
Ariricure —Thoracic Oncology, Feb 2023			5,00D
DePuy Synthes —Chest Wall couse, Oct 2022			5,00D
Siemens Healthineers —Thoracic Oncology, Feb 2023			6,000
Merck Sharpe &Dohme LLC —Thoracic Oncology,	Feb 2023		6,000
Eziburg Global Trading —Virtual Congress 2021				50,000
Bnsiol ivlyers Squibb —Thoracic Oncology, Feb 2023			6,000
Bristol Myers Squibb -Virtual Congress 2021				15,000
Stryker Pacific —Virtual Congress 2021				12,500
Baxter Healthcare —VATS webinar series 2021				20,000
			877,393	308,000

			Year ended	Year ended
			31 March	31 March
			2023	2022
				6
Virtual	Congress	2022	402,480
Virtual	Congress	2021		73,299
			4D2,480	73,299

		Year ended	Year ended
		31 March	31 March
		2023	2022
		6	6
Chest Wall	Surgery- October 2022 —Leuven	54,30D
Medical Writing —November 2022 —Prague		11,250
VATS —November 2022 —Copenhagen		22,50D
Esophageal	Course —December 2022 —Istanbul	8,70D
Thoracic Oncology —February 2023 —Zurich		123,505
Knowledge	Track —March 2023 —Prague	31,405
Knowledge	Track —May 2021 —Virtual		10,650
Knowledge	Track —March 2022 —Prague	(6,000)	22,675
Institutional	accreditation		18,000
		245,660	5'I,325

			Yearended	Year ended
			31 March	31 March
			2023	2D22
Bank	interest	receivable	1,619	33

				Year ended	Year ended
				31 March	31 March
				2D23	2022
Gains/(losses)	on	foreign	currency	(16,620)	(110)
				(16,620)	(110)

Expenditure	on raising funds
		Year ended	Year ended
		31 INarch	31 March
		2023	2022
Membership	ties	599	206
ESTStextbook
		599	206

					Year ended	Year ended
					31 March	31 March
					2023	2022
					6	6
Conference facilities					548,336
Membership costs					3,558	3,639
ERS membership fees					4,770	3,150
Journal ofCardio Thoracic Surgery					20,475	17,160
Grillo Prize					1,000
Prizes and awards					9,000	4,000
Astrazeneca Biology Club Fellowship					15,000
Astrazeneca Training Observership	Fellowship				15,000
Membership fees not collectecl					37,110	44,135
Conference facilities - Council meetings					505	2,114
Website expenses					14,281	14,354
Directors travel expenses					3,684	105
Other committee travel expenses					19,759	3,718
MUO Airways —March 2023 —Vienna —travel costs					925
ESTS/ERS Task Force Meeting Amsterdam					2,989
ESTS/EACTS GGO Guidelines Meeting		Amsterdam			1,641
Teaching school costs —Chest Wall	—October 2022			—Leuven	44,648
Teching school costs —Medical Writing		—November		2022 —Prague	12,894
Teaching school costs —VATS —November			2022 —Copenhagen		22,963
Teaching school costs —Women in Thoracic Surgery —December 2022					14,131
Teaching school costs —Esophageal	—December 2022 —Istanbul				6,647
Teaching school costs —Robotic School		—January 2023 —Belgium			32,451
Teaching school costs —Thoracic Oncology			—February 2023 —Zurich		172,778
Teaching school costs —Knowledge	Track —March			2023 —Prague	40,445
Teaching school costs —Knowledge	Track- May 2021 —Virtual					175
Teaching school costs —Knowledge	Track —March			2022 —Prague	33,016	1,344
ESTSwebinar					4,516	3,392
Statement on Pleural Infection in Adults					4,135
ERS/ESTS Clinical Practice Guidelines		Task Force			8,000
Conference organiser costs					157,152	152,623
Dendrite database					36,287	44,225
Teaching school costs —other					16,193	8,345
Salaries					116,224	97,285
Omce costs					34,882	28,137
Bookkeeping costs					8,675	5440
Depreciation					504	662
Governance costs:- Audit and accountancy			costs		13,352	14,960
Other					3,805	41
					1,481,731	449,204

This is	stated after charging:
		2023	2022
		6	6
Depreciation		504	662
Auditor's	remuneration.
	Audit ofthe financial statements	9,130	8,300
	Other services	4,222	6,660

otal staf	f costs were as follows:
		Year ended	Year ended
		31 March	31 March
		2023	2022
		6
Wages	and salaries	101,546	85,617
Social security costs		13,146	10,147
Pension	contributions	1,532	1,521
		116,224	97,285

The average number ofemployees during the	period, calculated on the basis of hea	dcount,	was as follows:
	Year	ended	Yearended
	31	March	31 March
		2023	2022
		No.	No.
Administration		1	1

15. Tangible fixe	d assets —group and charity
		Computer	Office
		Equipment	Equipment	Total
Cost		6
At 31 March 2022		24,641	3,381	28,002
Additions
At 31 March 2023		24,641	3,361	28,002
Depreciation
At 31 March 2022		22,909	2,885	25,794
Charge for the year		433	71	504
At March 2023		23,342	2,956	26,298
Net book values
At 31 March 2023		1,299	405	'I,704
At 31 March 2022		1,732	476	2,208
16. Investments	- Charity
			2023	2D22
			6	6
Cost at 31 March	2022 and 31 March 2023		10D	100
Net book value	at 31 March 2D23		'IDD	100

					2023	2022
						6
Summary	profit and loss account foryear ended 31December
Turnover
Cost ofsales and		administrative	expenses		(826)	(798)
Operating	loss				(826)	(798)
The assets and liabilities of			the subsidiary	were:
Current assets					224,469	224,545
Creditors:	amounts	falling due	within one year		(239,317)	(238,567)
Total assets less current liabiliTies					(14,848)	(14,022)
Aggregate	share capital and reserves				(14,848)	(14,022)

7. Sto	cks
			Group	Charity	Group	Charity
			2023	2023	2022	2022
				6		6
Goods	for	resale	615	615	1,212	1,212
			615	615	1,212	'l,212

			Group	Charity	Group	Charity
			2023	2023	2022	2022
						6
Trade debtors			391,381	391,333	185,449	185,449
Amounts	due	from subsidiary		224,493		158,250
Prepayments		8 accrued income	213,759	213,759	299,685	299,685
			605,140	829,585	485,134	643,384

9, Cash at Bank
		Group	Charity	Group	Charity
		2D23	2023	2022	2022
			6	6
Euro current account		2,116,057	2,116,057	1,567,358	1,567,358
Euro current account —trading	subsidiary	224,469		224,545
Bank deposit account		106,768	106,768	89,540	89,540
Sterling current account		397,945	397,945	399,990	399,990
		2,845,239	2,620,770	2,281,433	2,056,888

			Group	Charity	Group	Charity
			2023	2023	2022	2022
				6	6
Trade creditors			21,683	21,683	20,049	19,942
Other creditors			97,836	97,836	46,537	46,537
Membership	fees in advance		212,302	212,3D2	201,657	201,667
Accruals			53,476	53,476	29,777	29,777
Other deferred		income	1,19D,605	1„190,605	953,826	887,690
			1 575 902	1)575)902	1 251 858	1,185,613

Deferred	income comprises	sponsorship	funds and membership	funds and membership	funds and membership	fees that relates to future	periods which has
been received in advance:
							6
	Balance as at 1 April 2022						953,826
	Amount released	to income earned		from charitable	activities		(953,826)
	Amount deferred	in pediod					1,190,605
	Balance as at 31	March 2023					1,190,605

		Balance at	Incoming	Outgoing		Balance at 31
		1 Apdil 2022	resources	resources	Transfers	March 2023
						6
Restdicted funds
ESTSCommittee	for
research and education		12,165				12,'165
Medtronir. (Covidien)			226,520	(226,520)
Grille Pnze
Prizes and awards			5,000	(5,000
Medela			53,000	(53,000)
Johnson 6Johnson			72,000	(72,000)
Astrazeneca			160,000	(160,000)
Intuitive Surgical			78,230	(78,230)
Roche			82,500	(82,500)
MSD			34,500	(34,500)
Fengh Medical			19,900	(19,900)
Den Haag			31,500	(31,500)
Atricure			25,000	(25,000)
DuPuy Synthes			5,000	(5,000)
Siemens Healthineers			6,000	(6,000)
Merck Sharps 5 Dohme LLC			6,000	(6,000)
Bristol Myers Squibb			6,000	(6,000)
Total		12,165	811,150	(811,150)		12,165

22. Restricted	funds —pri	or year comparative
		Balance at	Incoming	Outgoing		Balance at 31
		1 April 2021	resources	resources	Transfers	March 2022
						6
Restricted funds
ESTSCommittee	for
research and education		12,165				12,165
Medaonic (Covidien)			65,000	(65,000)
Grillo Prize
Prizes and awards			1,000	(1,000)
Medela			25,000	(25,000)
Johnson &Johnson			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

		Unrestr icted	Restricted	Total Funds
		Funds	Funds
Tangible fixed assets		1,704		1,704
Cash at bank and	in hand	2,833,074	12,165	2,845,239
Other nei current	liabilities	(970,147)		(970,147)
		1,864,631	12,165	1,876,796

		Unrestricted	Restricted	Total Funds
		Funds	Funds
			6
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

Reconciliation ofne	t	movement	in funds to net cash fl	ow from operating activities
				Group 2023	Group 2022
kiet income/(expenditure)		for the	period	358,665	366,997
Adjustments:
Depreciation charge				504	662
Interest received				(1,619)	(33)
Exchange rate (gains)/losses				16,620	110
Decrease / (increase)	in	stock		597	284
(Increase) / decrease	in	debtors		(120,006)	(228,310)
Increase / (decrease)	in	creditors		324,046	829,213
Net cash provided by operating			activities	578,807	968,923