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2023-03-31-accounts

British Orthopaedic Research Society Trustees’ Annual Report and Accounts

For the year ended 31 March 2023

Charity No. 1179328

British Orthopaedic Research Society

Contents of the Accounts for the year ended 31 March 2023

Page
Legal and Administrative information 1
Trustees’ Annual Report 2-6
Independent Examiner’s Report 7
Statement of Receipts and Payments 8
Statement of Balances 9
Notes to the Accounts 10

British Orthopaedic Research Society Legal and Administrative Information

Charity name British Orthopaedic Research Society

Charity registration number 1179328 Trustees Professor Deborah Mason ( Chair of trustees ) (From 07.09.22) Professor Richie Gill (From 07.09.19) Professor Mark Wilkinson (Past Chair) (Until 07.09.22) Professor Hamish Simpson (Until 07.09.22) Professor Brigitte Scammell (Until 07.09.22) Dr Arash Angadji (From 25.07.18) Dr Robert Wallace (From 01.10.18) Professor Valerie Sparkes (Until 07.09.22) Rosemary Fletcher (From 30.09.19) Ms Ines Reichert (From 14.09.21) Professor Sophie Williams (From 14.09.21) Trustees (Ex-Officio) President: Dr Andrew Phillips (From 07.09.22) Honorary Secretary: Mr Wasim Khan (From 14.09.21) Honorary Treasurer: Dr David Hamilton (From 14.09.21) Committee Members (In addition to the Society’s Trustees and Officers) Dr Catherine Pendegrass - Past BORS travelling fellow representative Dr Richard VanArkel - BORS travelling fellowship members from 29.04.22 Dr Anthony Herbert- Past BORS travelling fellowship members from 29.04.22 Dr David Williams – New Investigator Rep until 14.09.21, then digital officer Mr Muhamed Alani - Co-opted BOTA representative Professor Hamish Simpson – BJR representative Dr Claire Brockett - Engagement Officer until 07.09.22 Miss Salma Chaudhury - Engagement Officer from 07.09.22 Principal office address Royal College of Surgeons England 38 – 43 Lincoln’s Inn Fields London WC2A 3PE Website www.borsoc.org.uk Independent Examiner David Jeffcoat FCCA Alexander Sloan Accountants and Business Advisers 1 Lochrin Square 92-98 Fountainbridge Edinburgh EH3 9QA Bankers Royal Bank of Scotland TSB 127-128 High Holborn 6 Market Place London Romsey WC1V 6PQ SO51 8YS

Page 1

British Orthopaedic Research Society

Trustees’ Annual Report for the year ended 31 March 2023

The Trustees are pleased to present their report together with the charity’s Accounts for the year ended 31 March 2023.

STRUCTURE, GOVERNANCE and MANAGEMENT

British Orthopaedic Research Society (‘BORS’) was registered as a CIO by the Charity Commission on 25 July 2018. BORS is governed by its Constitution and managed and administered by a Committee comprising the Trustees, including ex-officio Trustees, and other elected members of the Society.

Trustees

The Trustees serving during the year and since the year-end are detailed on page 1.

The appointment method of Trustees, Officers and Committee members is set out in sections 13 and 14 of the Society’s Constitution.

New Trustees are given a copy of the charity’s Constitution and undergo instruction to brief them of their legal obligations under charity law. New Trustees would already be familiar with the charity’s activities.

OBJECTIVES and ACTIVITIES

Per the CIO Constitution, the objects of British Orthopaedic Research Society (BORS) are to advance education in orthopaedic research for the public benefit in particular by (but not limited to) the promotion of all aspects of orthopaedic research and the dissemination of the useful results of such research.

A list of the charity’s activities in relation to its objectives is provided below:

Education

The advancement of orthopaedic education is the charity’s focus. The main activity focused at achieving this objective is the organisation of the annual research meeting. In 2022 the usual annual meeting was replaced by a meeting of ICORS (International Combined Orthopaedic Research Societies) in Edinburgh from 7-9 September 2022, a larger meeting that BORS was one of three host institutions for. The meeting was a success with high profile international speakers giving talks and around 500 delegates attending. The research presented at the conference was of a very high standard, with a good mix of clinical, scientific and engineering disciplines represented. Further details are given in the Achievements and Performance section.

BORS maintains a website (www.borsoc.org.uk/) which provides members of the Society with an accessible network of researchers and information about upcoming courses.

Research

BORS supports research through the organisation of its annual research meeting and with specific events held within other societies/organisations annual meetings. In addition, the Society awards a number of prizes and bursaries to help fostering an inclusive research environment. Prizes are awarded based on merit to researchers presenting at BORS organised events.

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British Orthopaedic Research Society

Trustees’ Annual Report for the year ended 31 March 2023

Publication of research results

The main routes of dissemination of research results are represented by the annual meeting organised by BORS and through the hosting of specific sessions and poster opportunities at clinical congresses such as the Orthopaedic Research Society (ORS), International Combined Orthopaedic Research Societies (ICORS), British Hip Society (BHS) and British Orthopaedic Association (BOA) meetings.

The abstracts accepted for presentation at the BORS annual meeting are published in the Orthoapedic Proceedings supplement to the Bone and Joint Journal. A nominated Committee member acts as the link person between BORS and BJJ to ensure this arrangement is continued. It is the aim of the Trustees to broaden the activities of the charity to contribute more widely to the education of the public such as including Public lectures at the Annual meetings.

Research landscape and links to others

BORS maintains very strong links with national and international research societies and organisations operating in the field of orthopaedics or, more in general, musculoskeletal research and education. The president or nominated representatives also attend meetings of appropriate international organisations to maintain awareness and participation in research and education on a global basis (e.g. ORS and ICORS).

At national level, BORS aims to organise joint meetings when possible to provide an opportunity for the exchange of knowledge and skills between respective members.

Representatives of Orthopaedic Research UK (ORUK - Registered Charity number 1111657) regularly attend BORS research meetings.

BORS also interfaces with clinical organisations, namely the British Hip Society, the British Orthopaedic Association (BOA - Registered Charity number 1066994), and the British Orthopaedic Trainees Association.

ACHIEVEMENTS and PERFORMANCE

ICORS 2022

BORS was the host society for the World Congress of Orthopaedic Research held in Edinburgh from 7 to 9 September 2022

Page 3

British Orthopaedic Research Society

Trustees’ Annual Report for the year ended 31 March 2023

BORS/BJR Travelling Fellowship

The BORS/BJR 2023 Travelling Fellows (Mr Simon Abram, Dr Nisreen Al-Namnam, Mr Thomas Edwards, Dr Nidal Khatib, Dr David Williams, Dr Irene Yang) were selected following interview at ICORS in September 2022, with the Fellowship starting at the ORS meeting in Dallas in February 2023.

The Fellowship, sponsored by in part by Bone & Joint Research (a gold open access journal for the musculoskeletal sciences) saw the Fellows visit:

While ultimately successful various issues in the process of selecting the Fellows and developing the itinerary of the Fellowship were identified through discussion with the Fellows prior to and following the Fellowship. A blog detailing the Fellows visits is available on the BORS website (https://borsoc.org.uk/travelling-fellows/)

FINANCIAL REVIEW

The Accounts for the year are set out on pages 8 to 10. Per the Statement of Receipts and Payments , the charity reported Net Expenditure (i.e. a Deficit) for the year of £35,738 (2022 – Surplus £13,956).

Reserves Policy

The Society’s policy is to maintain unrestricted funds at a level equating to approximately three months of unrestricted expenditure which allows sufficient funds to maintain the Society’s ongoing work. Per the Statement of Balances , the General Fund amounted to £80,924 at 31 March 2023 (2022 - £100,662) with Liabilities (i.e. expenditure) of £2,400 relating to the year ended 31 March 2023 still to be paid at 31 March 2023. Although above the required level, the Society’s reserves were acceptable to the Trustees who are considering ways to utilise reserves effectively.

A significant proportion of the Society’s finances are associated with the organisation and hosting of the Society’s Annual Meeting, dedicated sessions at a number of conferences and with the award of the travelling fellowships. The purpose of the Annual Meeting is to provide a platform to further the Society’s main objectives.

The Annual Meetings are generally well attended and subscribed, however the Society recognises that there is a small but significant financial risk associated with such events as it is plausible that a meeting might incur a deficit. The Society’s reserves are deemed more than adequate to cover this risk.

Page 4

British Orthopaedic Research Society

Trustees’ Annual Report for the year ended 31 March 2023

Public Benefit Statement

The Trustees confirm that they have complied with their duty to have due regard to the Charity Commission’s general guidance on public benefit when planning the activities of the Society.

Orthopaedic patients are the largest group of beneficiaries of the charity’s activities; clinical and scientific research are the foundations from which new and improved medical treatment and diagnosis arise. Through its annual research meeting, BORS provides a forum for exchanging new and innovative ideas in the field of orthopaedics. On occasions, this can be translated into changes and improvements to current clinical practice. At AGM’s or other meetings, we shall have lectures open to the public of an appropriate subject matter. For the 2021 virtual meeting, a decision was made to delink and postpone the public lecture to enable this to be delivered in a hybrid format. This was delivered in May 2022 by Professor A McCaskie (Cambridge) on ‘Public perception of stem cell treatment’.

The orthopaedic fraternity, comprising clinical and scientific researchers, benefits from the meetings organised by BORS both through exposure to new research ideas and through participation in the discussions fostered at the meetings.

The charity is committed to the dissemination of research findings and as such it holds a longstanding agreement with the Bone and Joint Journal which ensures the publication of abstracts presented at the BORS annual meeting.

The charity fosters education both of professionals and the public at large and we often work closely with Industry to further that education. The charity has been organising events specifically targeted at clinicians at the main orthopaedic clinical meeting in the UK (the British Orthopaedic Association Annual Meeting) and has been sponsoring an annual research prize (BORS/BOTA prize) for the best paper presented in this context.

FUTURE ACTIVITIES

Travelling Fellowship

BORS again intends to promote and support a BJR-BORS travelling fellowship in 2025 and sponsorship has been agreed. Plans are in place for up to six early career researchers in the orthaoepdic research community and as members of BORS to be selected to undertake the travelling fellowship. The travelling fellowship involves visiting international centres of academic orthopaedic excellence and also attendance of an associated orthopaedic research society meeting. The Bone and Joint Research Journal continues to provid financial sponsorship of these fellowships. The purpose of this travelling fellowship is to:

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British Orthopaedic Research Society

Trustees’ Annual Report for the year ended 31 March 2023

Independent Examiner

David Jeffcoat, F.C.C.A. succeeded Alan Cunningham C.A. as independent examiner of the Charity as the designated Partner of Alexander Sloan, Accountants & Business Advisers responsible for this engagement. The Trustees recommend that he remain in office as independent examiner until further notice.

On behalf of the Trustees

Professor Deborah Mason

Trustee, Chair of Trustees

Date: 31/1/2024

Page 6

British Orthopaedic Research Society

Independent Examiner’s Report to the Trustees of British Orthopaedic Research Society

I report on the Accounts of the charity for the year ended 31 March 2023 which are set out on pages 8 to 10.

Responsibilities and basis of Report

As the charity Trustees, 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 2011 Act and in carrying out my examination, I have followed the applicable Directions 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 material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the Accounts to be reached.

David Jeffcoat, F.C.C.A. Partner

Alexander Sloan Accountants and Business Advisers 1 Lochrin Square 92-98 Fountainbridge Edinburgh EH3 9QA

31/1/2024 Date:

Page 7

British Orthopaedic Research Society

Statement of Receipts and Payments for the year ended 31 March 2023

Notes
Receipts
Membership fees
Research travelling award
3
Surplus from 2018 Annual Meeting (Leeds)
Bank interest received
Total Receipts
Payments
Charitable Expenditure
BORS conference costs
Course fees (Future Leaders Programme 2020/21)
Other Meeting costs and sundries
Awards and prizes
Insurance
Bank charges
BORS Fellowships
Governance costs
Independent Examiner's Fee
Trustees' Meeting costs
Total Payments
Net Receipts/(Payments) for the year		 Unrestricted
Funds
£
4,521
-
-
520
5,041
900
-
50
-
326
167
14,972
8,364
-
24,779
(19,738)		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
16,000
-
-
16,000
(16,000)		 Total
2023
£
4,521
-
-
520
5,041
900
-
50
-
326
167
30,972
8,364
-
40,779
(35,738)		 Total
2022
£
7,811
16,000
920
206
24,937
1,440
3,360
491
343
326
185
-
4,116
720
10,981
13,956

The Notes form an integral part of these Accounts.

Page 8

British Orthopaedic Research Society

Statement of Balances as at 31 March 2023

Notes
Bank and Cash in Hand
Opening balances
Net Receipts/(Payments) for the year
Closing Balances
Reserves
General Fund
Restricted Funds
3
Closing Balances
Liabilities
Independent Examiner's Fee (including VAT)
Year ended 31 March 2021
Year ended 31 March 2022
Year ended 31 March 2023		 Unrestricted
Funds
£
100,662
(19,738)
80,924
80,924
-
80,924
-
-
2,400
2,400		 Restricted
Funds
£
16,000
(16,000)
-
-
-
-
-
-
-
-		 Total
2023
£
116,662
(35,738)
80,924
80,924
-
80,924
-
-
2,400
2,400		 Total
2022
£
102,706
13,956
116,662
116,662
-
116,662
4,308
4,032
-
8,340

31/1/2024

Approved by the Trustees on and signed on their behalf by:

Professor Deborah Mason

Trustee

The Notes form an integral part of these Accounts.

Page 9

British Orthopaedic Research Society

Notes to the Accounts for the year ended 31 March 2023

1. Accounting Policies

Basis of Accounting

The Accounts have been prepared on the Receipts and Payments basis in accordance with the Charities Act 2011.

VAT

The Society is not registered for VAT and, accordingly, expenditure includes VAT, where appropriate.

Purposes of Funds

The General Fund (Unrestricted) encompasses the income and expenditure relating to the primary focus activities of the charity, other than those for which funding is restricted.

The Travelling Fellowship Fund (Restricted) represents a grant from The British Editorial Society of Bone & Joint Surgery Ltd (registered charity No. 209299, England and Wales) to fund travelling fellowships.

Payments

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the Independent Examiner's fee.

2. Trustees' and Officers' remuneration and reimbursed expenses

No Trustees or Officers received remuneration or reimbursed expenses during the year or the previous year.

3. Restricted Funds

Travelling Fellowship Fund Balance at
Balance at
01.04.22
Receipts
Payments
31.03.23
£
£
£
£
16,000
-
(16,000)
-
16,000
-
(16,000)
-

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