Registered Charity Number: 1177027
The Society of Radiologists in Training
Annual Report and Unaudited Financial Statements
for the Year Ended 14 May 2024
The Society of Radiologists in Training
Contents of the Financial Statements for the Year Ended 14 May 2024
| Trustees Report | 1 to 2 |
|---|---|
| Independent Examiner’s Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 8 |
The Society of Radiologists in Training
Trustees Report for the Year Ended 14 May 2024
The trustees present their report with the financial statements of the charity for the year ended 14 May 2024.
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP 2019) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and accounts of the charity.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Society of Radiologists in Training (SRT) is a registered charity whose aim is to promote education, learning and professional development for radiologists in training across the UK. The charity supports this aim through the delivery of conferences, workshops, educational resources, and networking opportunities for trainees.
Our objectives, as stated in the constitution, are:
-
To promote and improve medical education in the field of radiology.
-
To advance professional development among radiology trainees.
-
To provide accessible educational events for all radiology trainees.
ACHIEVEMENT AND PERFORMANCE
Review of activities
During the year ended 14 May 2024, the Society continued to deliver its core objectives by:
-
Successfully hosting the National SRT conference in Brighton
-
Enhancing and growing the online revision content including running the FRCR Anatomy and FRCR Physics revision courses as well FRCR part 2A revision webinars.
-
Launching the national SRT 2024 Training Survey.
-
Expanding engagement across multiple regions and training schemes.
The Society saw strong attendance at events, confirming the continuing need for high-quality radiology training resources. Feedback from delegates was overwhelmingly positive.
FINANCIAL REVIEW
Financial Position
During the year, the charity’s income was £47,237, which was up 36% from the prior year (2023: £34,771). The financial position remains strong with total funds at year-end of £33,103, reflecting both the current year surplus and prior years’ retained reserves.
Reserves policy
The trustees aim to maintain sufficient reserves to ensure the charity can meet its ongoing obligations and continue to deliver its charitable activities.
Page 1
The Society of Radiologists in Training
Trustees Report for the Year Ended 14 May 2024 (continued)
STRUCTURE, GOVERNANCE AND MANAGEMENT
SRT Charity is governed by its Constitution and registered with the Charity Commission in England and Wales. The trustees have responsibility for the general control and management of the administration of the charity.
Risk Management
The Trustees actively review the major risks facing the charity, including financial, reputational and operational risks. Adequate controls, including budget monitoring and event planning procedures, are in place to mitigate these.
Public Benefit Statement
The Trustees confirm they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit. The Charity’s activities clearly further its charitable purposes for the benefit of radiology trainees and, indirectly, patients and the healthcare system.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1177027
Principal address Apartment 85 72-76 Newton Street Manchester M1 1EW
Trustees
Dr Lara Leyla Jehanli Yousar Jafar Dr Zainab Saad Abdul Raqaz Ali (Appointed on 24 May 2024) Dr Jordan Colman (Appointed on 24 May 2024) Miraen Kiandee (Appointed on 24 May 2024) Dr Harout Kolanjian (Appointed on 24 May 2024)
Independent Examiner
Ihtesham Sadiq The Residence 118 Palatine Road Manchester M20 3TF
2/7/25 Approved by order of the board of trustees on ……………….. and signed on its behalf by:
……………………………………. Yousar Jafar
Page 2
The Society of Radiologists in Training
Independent Examiner’s Report to the Trustees for the Year Ended 14 May 2024
Independent Examiner's Report to the trustees of The Society of Radiologists in Training
I report to the charity trustees on my examination of the accounts of The Society of Radiologists in Training (the charity) for the year ended 14 May 2024.
Responsibilities and basis of report
As the charity trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under Section 145 of the Act and in carrying out my examination, I have followed all applicable directors given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
Accounting records were not kept in respect of the Charity as required by Section 130 of the Act; or
-
The accounts do not accord with those records; or
-
The accounts 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 accounts to be reached.
Ihtesham Sadiq The Residence 118 Palatine Road Manchester M20 3TF
Date: ………4th July 2025……………………………….
Page 3
The Society of Radiologists in Training
Statement of Financial Activities for the Year Ended 14 May 2024
| Note | Unrestricted | Restrict | Total | Total | |
|---|---|---|---|---|---|
| Funds £ | ed | Funds | Funds | ||
| 2024 | Funds | £ | £ | ||
| £ | 2024 | 2023 | |||
| 2024 | |||||
| Income and | |||||
| Endowments | |||||
| from | |||||
| Charitable Activities |
3 | 46,968 | - |
46,968 | 34,715 |
| (Conferences & | |||||
| memberships) | |||||
| 2 | 269 | - | 269 | 56 | |
| Investment | |||||
| income | |||||
| - | |||||
| Total Income | 47,237 | 47,237 | 34,771 | ||
| Expenditure on | |||||
| 3 | |||||
| Charitable activities |
51,298 | - | 51,298 | 16,331 | |
| Net | |||||
| Income/(Expenditure) | (4,061) | - |
(4,061) | 18,440 | |
| Reconciliation of | |||||
| Funds | 5 | ||||
| Transfer between | - | - | - | - | |
| funds | |||||
| Net movement in | (4,061) | - | (4,061) | 18,440 | |
| funds | |||||
| Total funds | 37,164 | - | 37,164 | 18,724 | |
| brought forward | |||||
| Total funds carried forward |
33,103 | - | 33,103 | 37,164 |
The statement of financial activities includes all gains and losses recognised in the year.
Page 4
The Society of Radiologists in Training
Balance Sheet as at Year Ended 14 May 2024
| Note | |
|---|---|
| 2024 2023 |
|
| £ £ |
|
| Current assets | |
| Cash at bank | 33,103 37,164 |
| 33,103 37,164 |
|
| Net current assets | |
| 33,103 37,164 |
|
| Total assets less current liabilities | |
| 33,103 37,164 |
|
| Net assets | |
| 33,103 37,164 |
|
| Funds | |
| Unrestricted funds 5 |
33,103 37,164 |
| Total funds | |
| 33,103 37,164 |
The financial statements were approved the Board of Trustees and authorised for issue on ………………….... and 2/7/2025 were signed on its behalf by
...............................
Yousar Jafar - Trustee
The notes form part of these financial statements Page 5
The Society of Radiologists in Training
Notes to the Financial Statements for the Year Ended 14 May 2024
1. Accounting Policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘ 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)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the charity. 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.
Going concern
The financial statements have been prepared on a going concern basis, which the trustees believe to be appropriate given that they have a reasonable expectation that the charity has adequate resource to continue in operational for the foreseeable future.
Income
All income is recognised in the Statement of Financial Activities once charity has entitlement of the funds after any performance conditions have been met, the amounts can be measured reliability, and it is probable that income will be received.
Expenditure
Expenditure relates to charitable activities such as educational events, radiology training conferences, and other professional development initiatives. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.
Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand. They are basic financial instruments and are measured at their nominal value. The charity does not hold any short-term deposits, cash equivalents, or overdraft facilities.
Financial instruments
The charity only holds basic financial instruments. The only financial asset held at the balance sheet date is cash at bank, which is measured at its nominal value. The charity has no financial liabilities requiring disclosure under FRS 102.
Funds
All funds are currently unrestricted. There are no restricted or endowment funds held.
Page 6
The Society of Radiologists in Training
Notes to the Financial Statements for the Year Ended 14 May 2024 (continued)
2. Investment income
| 2024 2023 |
|
|---|---|
| £ £ |
|
| Bank interest | 269 56 |
| 269 56 |
3. Charitable activities Income and Endowment from
| Unrestricted Unrestricted |
|
| Funds Funds |
|
| 2024 2023 |
|
| £ £ |
|
| Conferences & Membership | 46,968 34,715 |
| 46,968 34,715 |
|
| Expenditure on | 2024 2023 |
Charitable activities |
£ £ |
| Charitable activities | 51,298 16,331 |
| 2024 2023 |
|
| £ £ |
|
| Net Income/(Loss) | (4,060) 18,440 |
Page 7
The Society of Radiologists in Training
Notes to the Financial Statements for the Year Ended 14 May 2024 (continued)
4. Trustees’ remuneration and benefits
There were no trustees’ remuneration or other benefits for the year ended 14 May 2024.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 14 May 2024.
5. Reconciliation of Funds
| 5. Reconciliation of Funds | |
|---|---|
| Unrestricted Unrestricted |
|
| Funds Funds |
|
| 2024 2023 |
|
| £ £ |
|
| Total funds brought forward | 37,164 18,724 |
| Transfer between funds | - - |
| Net movement between funds | (4,060) 18,440 |
| Total funds carried forward | 33,103 37,164 |
6. Related party disclosures
There were no related party disclosures for the year ended 14 May 2024.
Page 8