|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|
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||||||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|
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||||||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|
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|||||||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|
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|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|
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||||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|
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|||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|
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||||Yearended|Year ended|
|---|---|---|---|---|
||||31 March|31 March|
||||2023|2D22|
|Bank|interest|receivable|1,619|33|
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|||||Year ended|Year ended|
|---|---|---|---|---|---|
|||||31 March|31 March|
|||||2D23|2022|
|Gains/(losses)|on|foreign|currency|(16,620)|(110)|
|||||(16,620)|(110)|
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|Expenditure|on raising funds|||
|---|---|---|---|
|||Year ended|Year ended|
|||31 INarch|31 March|
|||2023|2022|
|Membership|ties|599|206|
|ESTStextbook||||
|||599|206|
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||||||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|
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|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|
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|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|
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||||||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)|
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|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|
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||||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|
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|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|
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|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|
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|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|
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|||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|
##
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|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|
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