Charlty Registratlon No. 1188655
Company Reglstratlon No. CE021213
BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF
PATHOLOGY CIO
REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2021

BRITISH DMSION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
OFFICERS AND PROFESSIONAL ADVISERS
Board of Truste•s
Professor AG Nicholson {President as of 01.01.2021)
Professor RFT Mcmahon (Past PresKlenl as of 01.01_20211
Professor M Leader {Demitted President al 31.12.20201
Professor ISD Robert5 {President Elect a$ of 01.01.2021 }
Professor M Osborn (Secretary)
Professor SS Cros5 ITrea5UTerl
Dr L Browning (Meetings Secretary)
Dr E Calonje Ilntemalional Secretary)
Dr N Wilkinson (Divisional Editor)
Professor C Cuvelier (European Vice PresidenL Demitted 31.12.2020)
Dr N D'Haene (Belgian Representative)
Professor K Sheahan Ilrtsh Representslive)
Or J von der Thusen (Dutch Representstive)
Professor R Feakins ICouncillor}
Dr P Craig {Councillorl
Professor S Doicinov {C￿nCil￿r>
Dr K E Mcintosh (Trainees Councimorl
Professor A Burt Icouncillor)
Dr A Gh￿h (Trainees C(MJnallorl
Principal address
Floor
6 Street
London E18QT
Websit8: www.bdia
Banker
HSBC Bank PLC
49a Fishergate
Preston
Lar￿ashIre PR18BH
Audltor
RSM UK Audit LLP
Chartered Accountants
3TQ Floor. Portland
25 High Street
Crawley
INesl Sussex. RH10 1 BG
Investment advisors
Brown Shipley & Co
One King Street
Manchester, M2 6AW

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2021
The Injstees present ￿1r repcfft and financial statements for the year eThJed 30 June 2021.
The finano81 $tstemenlS have been prepared in accordan￿ wth the accounting poliues set out in note 1 to
the finanual statements and comply wtth the charitys goveming document. the Chartties Act 2011 and
"Accounting and Reporting by Charities" Stslement of Recommended Practice applicable to charities preparing
their finanoal statements in accordance ¥￿th the finanual Rep￿ling Standard appliGable in the UK and
Republic of Ireland IFRS 1021 (effective 1 January 2019}-
Objoctivos and actlvltles
The 8fitssh DIVI￿0￿ of the Intemational Academy of Pathology is a wislered charity (r￿rnber 11886551 whose
main objective is to promote the advancement of pathology by co￿rdination wth allied suences, by the
encouragement of research, by the improvement of leaching and lethnic4 methods through scientific
meetings in Britain and overseas.
Thé public receives an irKlirecl as a Tesuft of advanceThnt modul Scien￿ through scholarships and
educational programs.
St￿ctUre. govamance and management
Up to 1 July 2020. the charity was controlled by its c￿StIlutiOn adopled on 24 Fetffuary 1961 and amended 1
March 1966 and further amended De￿rntser 1977 as amendeol on 2 December 2016. On 1 July 2020 the
charsty completed ts conversion to a Chwitable Incorpfftted 0ryanisats.on ICIO), and govemed by the
conslitLrtion dated l July 2020.
The charity is organi5ed so that the Officers. Count?Flors and exe(>Jtive c4Juncil meet r8gulafty lo manage its
affairs. There are hvo staff members who k¥owde administration and Secretarial services to the Dsvision.
As at 30 June 2021. there were 1,334 (2020 - 1,2951 membern of the Britysh Division of the Intematsonal
Academy of Patholcw ￿F￿esentBd from UK, B*ium, Ireland. Nethertands and other countries.
Delails of Ihe trustees who seNed during the year can be ftyjnd on page 1 on the annual reporL
The Board of Truste8s appoints five pemynent sulKommittees:
Nominations and Membership Subcommittee
Edu&rylion and IT Subcommittee
Meetings and Programme Subcommittee
Finance Subcommittee
Intemational subcommittee
Thg Trgasurer, DNK8ional Editor. Meetings Secretary. Pa5t-President and Intematsonal Secretary.
respectively, chair these Subu)mmittees.
There shall be at least 18 Trustees on the Board.
Recruitment and appointment of n•w trust¢•s
OFfbcers, Ciyjnryllors and Trainee CouncAlors ean be Njminated by members of the Divi$b)n in writing lo the
Secretsry al least one month beforo the Annual Genoral mo8b.ng providod consent of the nominoB has
been obtained.
Nominees for pOsit￿n of Officer must be serviThJ membe[5 of Coun(yl (K have yevlous experience as
Councillors. Officers are elected by Council.
Councillors representing the four incorporated (￿UntrIeS of Ihe divisiDn must be nominated and seconded by
o non-Trainee Members from the relevant countries. who will elecl them by ballot.
Trainee Counallors must be in training vrithin the ftyjr Inc￿Ondted countries of the Division.. they are
nominated, seconded. and decled by the trainee membership.

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2021
Indu¢tion and trainlng of new trustees
New trustees undergo a training session to brief them of their legal otAigation$ under the Charity 18W, the
content of the constilub"on, the committee. and decasion-making processes. Twslees are encouraged lo attend
appropriate external Iraining events where these will facilitsle the undertaking of their role.
Key Management Personnel
The Board of Tnjstees is responsible for management and financkql affairs of the charity. The charity's
affairs are conducted on a daY-t￿daY basis by The Educats"on and Divisional Manager, under direction of the
Trustees.
Publlc benefft
The Board of Trustees has due regard of the Charities Ael 2011 aThJ the Charity CoMmissM￿ guidance on
publie benefft. This is rellected in the rewew of the activfties of the contsined in thss rep￿)rt.
Ob5ectlves And Activiti95
The British Division of the Intemational Acadwny of Pathology (Ihe Chaiiw) was registered as a charity on 8
November 1965. On 1 Juty 2020 all the activities, assets and liabilsbes of the chanly were transferred lo a new
charitsble incorporated ofganisatson. Britssh Division for the Intemationa Academy of Pathology CIO Ichanty
number 11886551. The activitses of the charity ￿11 continue in the CIO.
The charity's objects, as laHJ out in the goveming dr)cU￿nI, are:
To promote Ihe advancement of pathology by c(H)rdinalion with allted Scien￿5. by the
encouragernenl of research by the Impr￿ment of teaching and technical methods through sC￿ntIfiC
meetings in Britain and overseas.
The organisatlonal aims are the advancgment of pathology through:
Organisation of educat.onal symF#)sia and c#)urses in histr4)athdogy
Collaboration wth professionals in allied heathcare scien¢xs
Promotion of research in pathok•3y and development of pathologic technNues
Publtcation of reviews and tyNJinal research work in pathology arKI rdatad fialds
Organisation of scientik rneetings and ￿g￿SSeS for exchange of information and ideas
Achievements and perfomiance
Charitable adivities
The 8lltish Division of the academy had another succmsftjl year promoting education in pathology in the
four home countries (UK, Ireland. Belgium and NetherlaThlsl and through intemational link5 Wlth the
Arab DivI￿on. Bosnia. Sri Lanka, and East Central and Soulhem Afrta.

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2021
Mo•tlngs and seminars
The meetings and seminars thatwere planned for 202￿2021 were ￿$trIcted by the cov￿1 pandemic. However.
the￿ was still an effective delivery of educational events by virtual platfonns rather than face to face events.
The 32nd Congress of the ESP & XXXIII Internat￿nal Congress of the IAP 2020 was hosted by the BDIAP
wtth the European Society of Pathology. on &8 December 2020. as a wrtual meeting having been pK)stponed
from a face lo face meeting eadier in 2020. The meeting was very successful with 4762 partiupants and 466
presentations. BDlAP'Cut￿p, Meets"rMJ & 6th MoleoJlar Pathology Symposium. were hehy on 1Lk11 November
2020 as virtual meetings having been F#)Stponed as face to face meetings in March 2020. delegates
attended these two meetings and the feedback from participants was good. The Joint BDIAPIPalhological
Society meeting due to be held face lo facÉ in Manchester in July 2021 has been moved lo a virtual lorrnat.
The Ioinl BDIAPIBrilish Assooation of Urological Pathologists symwsium (postponed from November 2020)
and was held face to face in London in November 2021.
Flnan¢lal review
During the year the charrty received tolal income of £656.75012020.. £613.421) to help fflainlain rts activities.
This is after £25,000 received in 2020 towards the Glasgow conference was Tr￿rned in the current year as
the charty could not fijifil the grant conditions as the COnferer￿ was held virtually (see note 171. The charitable
athvity expenditure amounled to £331,482 12020.. £494,717). raising ftjnds o)st of £23,126 {2020: £21,948)
and il made gains of £632,282 (2020". £1.9421. resulting in a surplus at the year-end of £934,424 12020..
£98.698).
Investment pollcy
Th8 charitable company has a wytfc4io of investments marwed by Brown Shipley under a discretionary
agreement in accordance with an investn￿nI Frt)licy agreed and wulady monitored by the Trustees who meet
with the Fund Managers every rrthths. The overall investment objective agreed by the Trustees is to
maximise the totsl retum whilst having regard to Ihe charilable nature of these funds and Trustees,
responsibility to avoid unacceptable risks. The Fund Mana9efS have been mandaled lo ensure that securities
held in the Portfol￿ do not contravene our specffic elhical requirements regarding tobac￿, weapons and oil
companies. Further dI￿￿$S1On about responsible and sustainable investing policies took place between the
Trustees and Brown Shipley during 2021. The Fund Manager also ensures that it is an aclrve custodian of the
Charity's assets and acbv81y votes on govemance issues for any equity secunties held directly. Wh8r8 the
Fund Managers use third party funds. il is recognised thal th&re is limited control over the underlying allocation
and ils ethical posilioning. The target rtr]uired of the Fund Managers io achieve a Ferf0m￿nCe against a
bespoke benchmarl(.
Ouring the year the chanty received Investme￿ comprising dNKlends of £64,40212020.. £75.076).
Al th8 year end there were gains of £632.282 (2020: £1.942} ari%ng on diS[￿SalS arKI th8 valuation of the
investment fund wilh Brown Shipley.
R¢$•rv•s poll¢y
The Iruslees consider that reserves al Ihks level will ensure that. in the event of a significant drop in funding,
they will be able lo continue the charity's oJrrenl actiwties. Consideration is given lo ways in which additional
funds may be raised. The present levd of funding is adequale to support the running of the charity for the year
ahead and beyond. Tolal funds at the year end were £4,956,766 (2020: £4.022.3421. As such, the Tnjstees
are satisfied that the level of reserves at 30 June 2021 was appropriate.
Restricted funds are given or raised for specific purposes 2nd are not a¥a￿able for use in the general purposes
of the Charity. The Charity's feserves a￿ held predominantly as investments which are dassed as income
funds and are used to generale unrestricted income to fund the Charity's activities.

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2021
Related parttes and conno¢ted charlties
The charity is related lo IntematIc￿aI Academy of Patholc¥y (IAP) by way of being the British Division which
provides pathology education. Full detals on transactKins wilh IAP can te fwnd in note 21.
Golng ¢rmcom
The Trustees have dtscussed the effect of Covi&19 on Ihe BDIAP during the 2021>2021 finan￿al year. The
overall effect appeats to have been to reduce overall expenditure in the year (by £98kl and an increase in the
value of inveslments. Some of the reduction in expendf(ure has been due to a holding educational events
virtually rather than face to face so expenditure for travel and other expenses has been greauy reduced in
comparison to previous years. The BDIAP is reviewing the feedback on virtual events bul it seems th81 the
overall educatsonal value of the events has been similar to face lo fats events in p￿VIouS years so the
reduction in expenditure has not resulted in a dramatic drop in delivery of the educatK)nal content which is a
comerslone of the charity's purpose.
The accotjnts have been prepared on a going concem basis. The Trustees have rgviewed forecasts and cash
projections and investments. The bulk of income is derived from publicatson income Isee below) and
membership income which have t)een unaffected by the pandemic and are not anticipated to change
signifunlly in the months from the date of approval of thè financial statements.
The charity has sufficient fun(Js to meet rt5 debts as they fall due frx a per￿ of al least 12 months from the
date ol signing the financial statements.
Rlsk management
The trustees have a duty to idenlfy and review the risks to which the charity 15 exposed and to ensure
appropriate controls are in KAace to provide reasonatje assurance against fraud and error.
The 8oard of TTUStees has reviewed the major risks and uncertainties to whith the charty is exposed. The
Board is satisfied that the procedures in pL3ce are adequate to manage such risks appropriately.
The Board considers that the wincipol risk which faces Ihe charrty ks:
Funding - the 8DIAP does rely on the royalties from the joumal Hist0path(￿09Y fof a large proportion
of ils income. The existing contract Wiley. the joumal's publishers, ends at the end of 2021. The
BDIAP has negotiated a new contract Wiley which ￿11 run for 7 years froffl the start of 2022. The
percentage of royalties that the BDIAP w711 re￿1ve ￿11 reduce on a ￿ldIng scale during those 7 years.
This will rgsult in an anticipated reduction in royalties from £380k in 202110 £226k in 2028. The BDIAP
is p￿annIng ils future exp8nditure based on this anticipated reduction in in¢omg but il is unlikely to
result in any radical changes in ils chaiilable acbvities.
Plans for future develi>pment
In futur& years. the Iruslees will look lo hjlfil the chariws objectives of promoting the advan￿MentOf pathdogy,
through ils various activities and events held. The Iruslees have c(msidered the impact of Ihe ongoing Covid-
19 ICoronavinJsl oulbreak on their future ￿an$ and al this slage the￿ is no change lo the strategy for the
harity.

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2021
R•$ponslbilltSes in relatlon to the finan¢lal statemonts
The charity trustees are responsitrAe for wepanrwJ a trustees. annual report and financial statements in
accordance with apS￿leable law and United Kiwyom Aecounting StaThlard$ Iunited Kingdom Generally
Accepted Accounting Prac1]￿1.
The law applicable lo charities in England and Wales require5 the charty trustees to prepare finanoial
statements for each year whbeh give a true and fair view of the situation of the charity and of the incoming
resources and applicalion of resources, of the chaiity fcrf Ihat P8fiod. In preparing the financial statements, the
trustees are required to:
Select suit8bFe accounting policies and then apply them consrstenljy."
Observe the methods and princlples in the appli(able Charities SORP-
Make judgements and estimates that are reasonable and prudent-
Stale whether applicable accounting slandards have been followed. subjectlo any material departures
Ihal musl be disdosed and explained in the finanaal statements."
Prepare the financial slatemenls on the going concem basis Unl￿ it is inappropriate lo presume that
the charity will continue in business.
The tnjstees a￿ restx)nsible for keeping propgr accounting records that disdose with reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial stalemenls comply
with the Chanties Act 2011, the appliCa￿e Charityes IAccounts and Reports) Regulations, and the provisions
of the Trust deed. They are also responsibje for safeguarding the asset5 of the charity and taking reasona￿&
steps for Ihe prevention and detection ol fraud and other IrregU￿￿￿"eS.
Audtt
RSM UK Audit LLP has been appointed as auditor and has indicated lis wllingness to continue in office.
Statemont as to dis¢losurg of Inlomiallon to th• auditor
The Trustees in office on the date of this report have confim)ed. as far a5 they are aware. that there is no
relevant audit information of vthich the auditor is unaware. Each of the Tnjstees has confimed that they have
tsken all the steps that they ought to have taken as directors in order to make themsefves aware of any relevant
audit infomalion and to establish that it has been Gommunicaled lo the auditor.
01..0.4-: CL
Approved by order of the board of Iruslees on ........
. arKI s￿ned on its behalf by..
Professor Michael Osbom- Tr￿tee
Professor Simon Cross- Trustee

INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF BRITISH DIVISION OF
THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
Opinion
We have audited the financial statements of the 8riti.sh Division of the IntomalFonal Academy of Pathology Ithe
'charity'} for the year ended 30 June 2021 which comprise the Slatemenl of Financial Activities, the Balance
Sheet, the Cash Flow Slatemenl and notes to the financtal statements, Including a summary of significant
accounting policies. The financial reporting framework thal has been applied in their preparation is applicable
law and United Kingdom Accounting Stsndards, induding FRS 102 "The Financial Reporting S18ndard
applicable in the UK and RepulJic of IrelarMI" (United ￿ngdoM Generalty Accepted Accounting Prydclice).
In our opinion the financial ststements..
give a tnte and fair vithv of the ststg of the charity's affairs as at 30 Jun¢ 2021 and of tts incoming
resources aThJ application of resources for the year then ended"
have been propedy prepared in ac(x)rdan¢e with United Kingthxn Generally Accepted Accounting
Practice,. and
hav8 been prepared in a¢¢ordance with the reqUiren￿nts of the Charities Act 2011.
Basis for oplnlon
We have been appointed as auditors urKler section 144 of the Charities Act 2011 and rgport in accordance
with regulations made under sectton 154 of that ACL
We c4)nduct8d (wr audit in accorda￿ International Standards on Audibng IUKI {ISAs {UK)} and
applicable law. Our reswnsibililies under those standards are ftjrther described in the Auditor's responsibilrties
for the audit of the financial stalements section of our report. We are independant of the charity in accordance
with the ethical requiremenls that are relevant to our audrt of the finanual st8temenls in the UK, indltding the
FRC'S Ethical Standard and we have fvlfilled our other ethical responsibilitses in accordance with these
requiremenis. We beI￿ve that the aud￿ ev￿n* we have obtained ￿ suffiaent and approprpte to proV￿e a
basis for our opinion.
Concluslons relatlng to golng concem
In auditing the financial ststements, we have ¢onduded tt)at the In￿tees. use of the g(yn9 concern basis of
accwnting in the preparation of the financial Statements is appropriate.
Based on the woth we have perfonned, we have not kJentified any materid uncertainties relating lo events or
conditions that, individually or (x￿lect￿ety, may cast signfficanl doubt on the group's or parent charitable
company's ability to D)ntinue as a g(Nng conLxm for a perrod of at least tsvelve months from when the finanual
statements are aulhorised for issue.
Our resFM)nsibilities and the re5ponsibdities of the trustees with respect to going concem are d&scribed in the
relevant sections of th6 roport.
Olher infofmati¢)n
The Iruslees are res￿￿)nsi￿e for the other inforniation. The other informab'on comprises the information
indud8d in th8 Annual Rep)rt other than the financial statements and OUT auditor's report thereon. Our opinion
on the financial statements does not rA)ver the other infonnab.on and, we do not express any form of assurance
cOnduS￿ thereon.
In connectbon wlh our audit of the financial statements, our resFMMsibilty 1$ to read the other information and,
in doing so, consider whether lh¢ other information is matenalty Incons￿tent with the financial statemgnts or
our kn￿edge obtsined In the audit or othewse appears to be materially misstated. If we identify such
material inconsislencies or apparent material misstatements, we are required lo detemiine vthether there is a
material misstatement in the financial statements or a material misststemenl of the other infomiab'on. If, based
on the work we have perfOrn￿d. we ryjndude that there is a material misstatement of this other information,
we are required to report that fa¢t.
We have nothing lo reFrf)rt in this regard.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRITISH DMSION OF
THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
Matters on whi¢h wo are required to report by exceptlon
We have nothing lo rgport in rtrspect of the follow.ng matt6rs where thg Charities Acl 2011 requires us to r8port
lo you rf. in our opinion..
the infomiation given in the financial ststements inoytsistent in any malwial respect with Ihe
Trustees. Report., or
suffiuenl a(tounling records have not been kept". or
the fin8n¢ial statements are not in agreement wrth the accountirwJ fecorrls and retums..
we have not received all the information and eX[danat￿n5 we require for our audit.
Respon$lblllllts of trustees
As explained mofe fully in Ihe Statement of TnJstees' responsibilities set out on page 6. the truslees are
responsible for the preparation of the financial ststements and for being satisfied that they give a tnje and fair
view, and for such internal enn1r￿ as the trustees delem)ine is necessary to enable the preparation of financial
statements that are free from rnaterial misstatement, wfiether due to fraud or eff￿.
In preparing the financial statements. the tnjstees are resFrt)nsible forassessing the charity's ability to continue
as a going conGem, disdosing. as applicable, matters ￿ated lo going wncem and using the going conrem
basis of accounting unless the Iruslees either intend to liquidate Ihe charity or to cease operations. or have no
realistic aftemative but to do so.
Auditorfs re$pon$ibilltles for the audh of the flnancial sLtsments
Our objectives are lo obtain reasonable assurance a￿Ut whether the financbal slalements as a whole are free
from material misstalemenl. whether due lo fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a htgh level of assurance, but is not a guarantee thal an audit conducted in
accordance with ISAS IUKI wll always detect a material misstalemfrnl when il exists. Misslalements can arise
from fraud or error and are considered material rf. indNidually or in the aggregate. they could reasonably be
expecled to influence the eccmmic decAsions of users taken on the basis of these financial statements.
Tho extgnl to which the audit was conslder¢d ¢apable ￿ detecting irregulafities, including fraud
Irregularities are instances of non-compliance wilh laws and Trgulats"ons. The objectives of our audit are to
obtain sUffic￿nI appropriate audit evidence reg8rdiThJ compliance with laws and regulations that have a direct
effect on the deleminalion of material amounts an(1 disdosures in the finanaal stslements. to perform audit
Pr¢￿ed￿re$ lo help idenlfy instsnces of non-compliance with oiher laws and regulaliofts that may have
material effect on the financial 5talements. and lo respond appropriatety to identified or suspected non-
compliance laws and regulations identified during the audtt.
In relation lo fraud, the objectives of tyJr audit afe to idèntify and assess the risk of material misslatement of
the finanoal sialements due to fraud. to obtain suffiuenl approFxiate audtl evidence regarding the assessed
risks of material misstatement due lo fraud through designing arKI implerr*nting apwopriale responses and k>
respond appropriatdy to fraud ¢y suspected fraud identifigj during the audit.
However. it is the primary resp￿ts.11ty of management, wrih the oversight of those charged wrth govemance,
lo engure that the entiWs operations are conducted in accordan￿ with the prowsions of laws and regulations
and for the prevention and detection of traud.
In identifying and assessing risks of material misstatement in resped of irregularities. induding fraud. the audit
engagement team:
obtained an understanding of the nature of the industry and sector. induding the legal and regul810ry
framework that the Charity operates in and how the Charity is (£)mplying ￿ the legal and regulatory
frarnework..
inquired of manageff*nl. and those charged with governance, about their own idenlthcation and
assessment of the risks of irTegulariknes. 1ndLMl￿g any krK)wn actual, suspected or alleged instances
of fraud..
discussed matters about non-complian￿ ￿th laws and regulath.ons and how fraud might occur
induding assessment of h¢)w and where the financial ststements may be susceptible to fraud.

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRITISH DIVISION OF
THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
As a result of these procedures we consider the most 5igntficant laws and regulations that have a direct impact
on the finanGial Statements are FRS 102. Chart1￿ SORP IFRS 1021. Charities Act 201 l. and the charity's
goveming document. We perfomed audit procedures to detecl non-compliances which may have a material
impact on the financpl statements.
The most significant laws and regulattons that have an indirecl impact on the financial stslements are those in
relation lo the UK General Data Protecbon Regulation (UK GDPRI and the Data Protection Act 2018. We
performed audit pr￿edUreS to inquire of management and those thargod govemance whether the
charitable company is in comrAiance ￿th these laws and regulations.
The audit engagement leam identified the risk of managemenl override of cx)nLr(As, as the area where the
financial statements were m￿t sus¢eptitAe to m81errd misstslement due to fraud. Audit procedu￿$ perfomed
included bul were not limited lo testing manual joumal entries and other adjustments. evaluating the business
rationale in relation to stonificanl. unusual transactions and transa¢tions enlered into outside the normal eourse
of business and challenging judgments and estim8tes.
A further description of our responsibilities for the a￿111 of the finanaal slatements is provided on the Financial
Reporting Council's websrte at httpJAwKw.frc.cry.ukJaudilOrsrestx￿$1bil1I1es. This descriptton foms part of our
auditor's rewL
Use of our report
This report is made solely to the charity's tnJstees as a trf)dy. in accordance vath the Charities Act 2011. Our
audil woth has been undertaken so that we might stale to the charity's Iruslees those matters we are required
to slate lo Ihem in an auditor's reF￿ and for no other purwse. To the fullést extent perniitted by law, we do
not accept or assume resFK)nsibility to anyone other than the chaiity and the charity's trustees as a body. for
our audit work, for this reFth, or for the opinions we have fomied.
Isn (LL LLP
RSM UK Audit LLP, Stslutory Audrtor
Chartered Accountants
3￿ FlTr)r
Portland
25 High Street
Crawley
West Sussex. RHI0 1BG
Date..
25104122
RSM UK Audit LLP is eligible to act as an auditor in 18rms of seclion 1212 of thè Compani8s Act 2CM)6.

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 30 JUNE 2021
Unr•strlcted
funds
Restrlcted
funds
Total funds
Totsl Yund$
Notes
2021
2020
Incomè from:
Dorialions
Charitable actrvities
Investments
4117
125,C4)0)
125.0001
617.348
64.402
25.000
513.345
75.076
617.348
64.402
Tolal Incom•
681.750
{25.0(YJ}
656.750
613,421
Expendlture on:
Raising funds
Charitsble actiwtses
23.126
331.482
23,126
331,482
21,948
494.717
Total •xpot)dltur•
354.608
354,608
516.665
Net inc￿rne
327.142
125,(KXI)
302,142
96,756
Gains on fixed assets
Investrnents
12
632.282
632.282
1.942
N•t mov•m•nt In funds for th*
year
959,424
{25.000}
934,424
98.698
R•con¢lllatlon of lunds
Total funds brought ftjnvard
3.997.342
25.1)Xl
4.022.342
3,923,644
Total funds carrled fonvard
4.956.766
4.956.766
4,022,342
The rK)les on pago9 13 10 21 fom part of these accounts.
10

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
BALANCE SHEET
AS AT 30 JUNE 2021
Notes
2021
2020
Fixed assets
Tangible assets
Investmenls
11
12
2,118
3.291.514
3.918.309
3.920.109
3,293.632
Current assets
Debtors
Investments
Cash at bank
13
468.619
185.362
411,540
6.945
137,799
630,961
1.065.521
775.705
Creditors
Amounts falling due wthin ¢me year
14
(28.8641
146.995)
Net curr•nt assets
1,036,657
728.710
Total ass•ts l•$s current liabllitie$
4.956.766
4.022,342
Not a5￿ts
4,956,766
4,022.342
Funds
Unrestricted funds
Restricted funds
17
17
4,956,766
3,997,342
25,¢J)O
Totsl fundi
4,956.766
4.022,342
Approved
o(.o+.cL
authodsed Issue ty Ihe Board of Trustees on ........................... and $6gn8d on beh81f by..
Professor Mithael Osbom
Twstse
Professor &mon Cross
TnJste8
The notes on page$ 13 to 21 forni part of these accounts.
11

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2021
2021
2020
Not05
Cash flows from D￿rating actlvlties:
Cash used in operations
18
(241.747)
133.516}
Cash ftows from investlng activltles:
Purchase of fixed asset investments
Investment income
Disposal of fixed asset investments
12,246.5441
64,402
2,252,031
(865,1781
75,076
865,199
Net cash generated from inv•sting actlvlties
69.889
75,097
N•t 1decroaselllncrg￿• In cash and cash
equlvalents
{171.8581
41,581
Cash and cash equivalents brought fornlard
768.760
727,179
Cash and thish equivalents carrsed foTh¥ard
596,902
768,760
R•latlng to-
Cash al bank and in hand
Current asset Investrnents
411,540
185.362
630.961
137,799
596.902
768,760
12

BRITISH DMSION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Accoufillng pollcle8
Brrtish Division of the Inlemational Ac8derny of Patholojy is a registered charity in the United Kingdom. The
principal address is given in the chanty informalion on page 1 of these finanual ststements. The nature of the
eharity's operations and principal actmttes are delailed on page 2.
Tho chafity a publK ber￿ entity as defined by FRS 102.
Basis of preparallon
The finanual stalements have been prepared ffl a￿OrdanCe Accounting and Reporting by Charities..
ststemenl of Recommended Practice applicabl8 to thariligs preparing their accounts in accordance with the
Financial Reporting Standard aP￿icable in the UK and RopulAic of Irgland (FRS 1021 i56U8d on 16 July 2014,
the Charities Act 2011 and UK Gwwalty Acce￿ PraGtre. fr)r accounting peric4Js effective from 1 January
2019.
The acr£•unts (financial ststementsl have been prepared to gNe a'true and fairf vlew and have departed from
the Charib"e5 IAcGoun15 ar￿ Reports) Regulab"ons 2008 only to the extènt required to provide a 'lrue and fair
view,. This departure has invotve(f I￿11)wIng Accounts"ng and Fleponing by Charitses preparing their accLJunts
in arLordance wilh the Finanual Re￿rting Standard aWicatAe in the UK and Repu￿1¢ of Ire18rid IFRS 1021
issued on 16 July 2014 rather than the Accwnting and Repyting by Charities.. Statement of Recommended
Practice effedNe frorn 1 April 2005 whth has since been Withdra￿).
The financial slalements are prepared under the hislorKal cost conVent￿n, m(xltfied to indude certain items
at fair value. The fina￿131 stslements a￿ prepared in steding which is the luncts.onal currency of the charity
and ￿j￿ded to tho nearest £.
The signtficant acuyjnting OKaes applied in the preparation of these finanaal statements are set out below.
These pc4icigs have been consistentty aP￿led to all years presented unless otherwise stst•d.
On 1 Juty 2020 the charity completed its u)nversion lo a Charitstle lncorpc￿ated Organisation ICIOI. The
Jslees considerth8tthe use of acquisition accounting would not reflect the substsnce of such a combin81ion,
and that as all the othert¥rteria in FRS 102 and the FRS 102 Charriies SORP for the use of rnerger ac(x)unling
are mel. merger accounting should be applied to Ihe cornbtnaticffi lor the overriding purpose of giwng a true
and fair view ol the nevly formed CIO'S financial t¥)sitN)n and perf0mlan￿.
Golng ￿ncorn
The accounts have been prepared ￿ a going ¢onc£m basis. The Trustees have discussed the effect of
Covid-19 and have regulady reviewed the impaci of the Pandern￿ on the operations of BDIAP.. In particular
the impact of holding vtrtual vs face lo face events on expendrture levels. This indudes revièwing forecasts
and cash projections and monitoring investmènts. The bulk of incA)rrE is denved frorn publication income and
membership income which h8ve been unaffecte¢J by the pandemic and are not antiapated to thgnge
S￿nIfiCandY in the h¥elve months from the date of approval of the financial statements.
The chanty has suffiaenl funds to meet its debts as ttrw fall for a per￿1 of al least 12 months Irom the
ate of signing the financial statements.
In¢¢me r¢cognitlon
cOnfe￿nce and publications incorne represent net invoiced Y￿￿9 of gc¥)ds and s8rvic9s18xcluding value
added Lgx). Conference incorne is recognised in th8 y8ar that the confvfence lakes place. Publications income
is recognised accordlng to contracted amc¥Jnts for editorial exp8nw in¢ome and royalty income due during
Ihe accounting year.
Members, subsCripti￿S are re¢ogntsed ￿ a receipts basis.
Grant 5ncom•
Grant income. where entruemenl is r￿1 conditional on the Oelivery of a speGffj￿ performarKe by the charity,
a￿ recognised when the chanty beca)m￿ uncOndrt￿81IY entitled to the grant.
13

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Accounting policies (contlnu•d
Expenditure
All expenditure rs a￿£￿Inted tr on an acuuals basis arKI has been dassiffied under headings that aggregat&
all cosls related to the Gategory. Expendrture is recognised %there there is a legal or constructive obligation
lo make payments to third parties. tt is wobable that the setdement wdl be requir8d and the amount of the
obligation can be measured reliably.
Irrocovorablo VAT
ASI expenditure is ciassffied under activity he￿lIng$ that aggregate all costs related lo that category.
Irrecoverable VAT is charged against the category of expendrtV￿ for wh￿h rt wa5 incurred.
Taxatlon
The charity is an exempt d7artty within the meaning of schedule 3 of the Charities A¢1 2011 8n(J is (¥)nssdered
to pass the tests set out in Paragraph 1 Schedule 6 Finan￿ Act 2010 and therefcKe it meets the definib.on of
tharitable company for UK ¢orpor81ion tax purpose5.
Tan9ibl• fixod
Tangible fixed assets a￿ initidty Th*asuf8d al LX)sl subsequenoy measured at cost, net of depreaation
and any impairment10ssgs.
De￿CIation ¢s provided at the annual rates in orderto write off each asset over its estbmated usefijl
Equipment
- 15% on Teducing balance
Inv•stments
Listed invèstments are stated 8t market value in the balan￿ sheet with net gains and losses on revaluation
and disposal being lak8n to the Ststgmert of FinarNial A(*vitie5.
Cash and cash •qulval•nts
Cash and cash equivalents indude deF*)srts hekl at C811 with banks and other short temi liquid investments
ilh onginal maturities ol Ihree nviths or less.
Fin•nclal in$trume
The charity has elected to apFAy the provistons of Section I I 'Basic Finanoal InslruFnents' and Sgclion 12
'other Financial InstnJments Issues. of FRS 102 to all ol rts financial instruments.
Finan￿al instruments ar8 rg(x)gnwd the ch8nty becomes party to the rnntracbjal provisions 01 thè
instrument.
Ba$lc find￿la1 ass•ts
8asic financial assets. which indude trade and other receIva￿eS and cash and bank balances, are initially
measured at trans3ctK￿ pnce indut1ing transactr)n costs and 8re subsequently camed at an￿r￿'Sed cost
U8ing the eff8CtNe inte￿1 method unless the arrangement LXJnslitutes a finanung transaction, where the
financial asset is measure(1 al the present value of the fu￿re receipts discounled at a market rate of interest.
Baslc Ilnanelal Ilabllltl•s
Basic financial liabiliknes, including trade and othw payables arg inltiaHy recogntsed attransaction price unless
the arrangèment ¢onststutes a finaning transaction. whore the dgbt instrument 1$ measured al th8 prèsBnt
value of the fUttl￿ payments th"s(x)unted at a market rate of inlerest.
Debt instrumgnls are subsoquondy caryiod at amortisod cost. using th8 offectiv8 illtergst rats method.
Taxatlon
The chwity is exempl from tax on its tharitable acaivitses.
14

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
A¢¢ounting polici•8 {continU￿)
Fund accounting
Unrestricted funds can be used in acrxKdanc* wilh the charitsble obiectNes at the discretion of the trustees.
Restn"cted fiJnds can only ￿ used for partioAar r8stricl8d purposes within th8 objects of thè charity.
Restricti"ons arise when Spfjcrf￿d by the doncr or v•t￿n frJrKls are ratsed particular r951rictsd purposes.
Further explanati(m of the rbature arrfj PUfFrf)se of each *Jnd is inlLthd in note 17 of the financial statemgnts.
0￿ratIng leases
Rentsls under operalifjg leases are tharg&J cffi a str8KJht4ine over the lease terrn.
Judgements and key sour¢o8 of ostimatlon uncertainty
Aco)unting estimates and judg6m8nts are contnualty evalualed aTrJ are bawj on historical experience and
olher factor5. induding expectatw)ns of futu￿ events th8t are beI￿ved to be reasonable under the
circumstan￿$.
The followlng jLtdgements18part from tlw involvvTrg e5timalesl have been made in the process of applying
the above accounting Oicies that have had the most signfficant effect on amounts Tecognised in the financial
statements:
There a￿ no key assumptrons con¢eming the future and other key sources of eslimation uncertainty al the
reporting date that have a sKJnffitxnt risk of Causing a mat8ri81 adjustment to the carrying amounts of assgls
and liab¢liD"es within the next finar￿[al year.
Useful economic lives of tangible a&sets
The annu81 dÈprÈoatittn d￿rge for tsngibje assets is sen&tr've to changes in the estimated useful econorni¢
lives and re5￿Ual values of the assets. The LtsofiJl ecorw)rrMc INeS and re$￿U01 values are re-assessed
annually. They a￿ amended when necessary lo reflect current estsmales, based on technological
8dvancement, fvture investments, economic Utilisat￿n and the physical cOnd￿"0n ol the 95sets. See note 11
for the carying arnounl of the equipment and the corresponding accountsng policy for the useful economi¢
lives for each class of assets.
Net eXP￿dItUre
Unrestricted
2021
2020
Aud*tor's rem￿r￿ration (net of VATI in rewct **.
Audit fee
Accountancy and other services
Operating lease costs
Depreciabon of owned assets
17,000
3,YJO
24,000
318
16,3(K)
3,000
24.000
373
Donations
R•8trlct•d
2021
2020
Grant incon
125.0001
25,orJ)
In 2020. £25.0￿ was received from Glas￿ Convention Pdjreau to be us8d on The IAP intemalional event.
rhje to this event not beiThJ held in ¥*rsM, the ch3rity dKI not meel the criteria of the grant. Therefore thls
the full grant of £25.000 was fOtum8d to Ihe Glasgow Conv8ntion Bureau.
15

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
In¢¢)me from charitabl• actlvltl•s
Unr¢$trlctsd
2021
2020
Profit Sha￿ from Publicats"on ol Hislcyathdogy
M8mbership subscn"ptsons
Received Irom membgrs atteThJing meetings
IAP inlemalional event
Other Income
400.121
74,108
14.442
128.450
227
405,096
73,778
34,471
617,348
513.345
Incom• from inv••tments
Unro$tri¢tsd
2021
2020
Dividends
64,402
75.076
Ralslng fvnds
Unrestrl¢ted
2021
2020
Investment m•nawent fees
Fundraising levy
22,326
21.148
800
23.126
21.948
Expgndlture on ¢harlt•blè actSVities
Unrestrtct•d
2021
2020
Educational soThic•s:
Due to publtshefs
Cost of meetings and conferences
Educational expenses
Due lo parent assOCiati(¥b
IAP inlemalional event
EX￿￿Se5 of counul members
Support costs Is•è notè 91
42,495
{4,2081
6,031
12,191
73.609
165
201.199
20,706
91,599
153,284
12.714
22,714
194,300
331,482
494.717
16

BRITISH DNISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Support costs
UTrrestrl¢ted
2021
2020
Stsff costs
OFficg rpnl co
OFfieA expense$
Telephone and insuranee
Me(lia and presentsbon costs
Printing, postage and sts*"onery
Bank and credit card charges
AccoLsntancy fees
Audit fees
Legal and Pfofe5spJnal fee5
Sundry u)sts
Equipment ¢JeprecialS
Loss on foreign exchange
105,617
24.000
90,397
24,000
2.143
2.446
24,516
454
4,570
2.625
22.323
919
2.372
8,331
20,400
10,493
19,560
18,375
562
373
318
3.143
201,199
194.300
10
WJges and salarl•s
Unr•$trlcted
2021
2020
Wages and salaries
Social security ¢xtsts
Pensil￿ ￿sts
84.979
65,550
6,852
8.681
11,340
105.617
81.083
The average monthty number of emptyes during the year way as follows:
2021
2020
AL1ministratNe staff
No èmployees received emoluments in excess of £60.￿￿} in the cu￿nt or prior year.
During thè currnnt year. 1 mèmbor of1he Board ofTrustees12020: 121 was Toimburs8d lor 8xpgnses incurred
of £16512020." £19.2651. Follo￿Th3 th• canc8llabon of a Lvuf59. £4.256 of w51 preViou￿Y reimbursed to
Trust86 was repabd to the Charity.
The trustees are considered to be the charii*$ koy managwrnnt personnd. No members of the key
management personnel receive remuneralion.
17

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
11
Tangible fixed assets
Equipment
Cost
At l July 2020 and 30 June 2021
36.491
Depreclatlon
At 1 July 2020
crTrarge lor year
34.373
318
At 30 June 2021
34,691
Net book value
As ai 30 June 2021
1,800
As al 30 JLtne 2020
2.118
12
Investments
Listed
nvostmontS
Market value
At 1 July 2020
AddrtE'ons
Disposals
Revalualior
3,291,514
2.246.544
12,252,031)
632.282
At 30 June 2021
3.918,309
Net book value
As at 30 June 2021
3.918.309
As at 30 June 2020
3,291.514
The historical o)st of the investments was £3.078.356 {2020: £2.875.2581.
Cufrnrt asset Investm•rrts
Cul￿nt asset investments relate to cash t￿￿1 by the InveStn￿ manw for inveslment purposes.
13
Dobtors
2021
2020
Trado debtors
Propaymgnts arKI accrued income
1.211
467,408
6.945
468,619
6,945
18

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
14 Cr•ditors
2021
2020
Accounts payable
Other taxatson and srKial se￿[lty
Other ¢redilors
Accwls
518
2,726
1,260
24.360
2.189
1.3S6
43,450
28,864
46,995
15
Flnan¢lal Instrum•nts
2021
2020
Carrying amount of financlal assots
Financial assets at far value
through profit or loss
3.918.309
3.291,514
16
Analys1$ ol n•t a$s•ts b•tw••n fitr•ds
Unr•stricted
funds
R•strfctgd
fund$
2021
Total
2020
Total
Tangible assets
Investrnents
Current ass•ts
Current liabdities
1.800
3,918.309
1,(￿5,521
128.864)
2.118
3,291,514
775.705
146,995)
3.918.309
1.065,521
{28.8641
Totsl ngt 8s59ts
4,956.766
4,956,766
4.022.342
Prlor yoar
Unr•strl¢ted
funds
Restrict•d
funds
2020
Total
2019
Total
Tangible assots
Investrnents
Current assets
Current l￿bIlItIeS
2.118
3.291.514
750,705
146,9951
2,118
3.291,514
775.705
146.9951
2.491
3.300,195
719,052
198,0941
Tolal not assets
3,997,342
25.000
4.022.342
3.923.644
19

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
17
Funds
Balan￿ as
at 1 July
2020
Balan￿ as
Exwnditur• at 31 Mar¢h
2021
Income
Restricted fvnds:
Glasgow Convention bLsreau
25.IXIO
125.¢)00)
Unrestricted fund..
General fund
3.997.342
1.314,032
1354,608)
4,956,766
Tolal
4.022,342
1,289.032
(354.608}
4.956.766
In 2020. £25.(KX) was ￿eeNed from Glasgow Conventicn Bureau to be used on The IAP inlem*"on81 event.
Due to this event not bwng held ift person. the charity dKI not meet the criteria of the grant Therefore the lull
grant of £25.000 was retumed to the G￿s9OW Convention Bureau.
Cash gonoral￿ from opera15ons
2021
2020
Nel movement in fvnds for the year
934.424
98.698
Adjustments for:
Depr8aatson ol tsngibl8 assets
Investment gains
Investment irKc¥no recognised in stat8m8ntof financial
a¢tivib"es
318
1632.2821
{64,4021
373
11,9421
175.0761
Movements In worklng capltal:
Increase in debtofs
Decrease in creditors
461,6741
118,1311
14.4701
151,0991
Cash us•d In op•ratlons
1241.747)
133.5161
19
Reconc515ation of changes in net debt
1 July 2020
Cash flows 30 Jun• 2021
Cash and cash equivalents
630.961
1219.4211
411,540
Total net debt
630,961
1219.4211
411.540
20
0￿ratIng lease commitments
At the reporting end date the charity had outstanding commitments for fvture minimum lease
payments under non-cancellable operattng leases. which fall due 85 follows,.
2021
2020
Within one year
Between one and five years
In over five years
24,1XM)
92.C
24,000
96.000
116,OCrf)
140,000
20

BRITISH DIVISION OF THE INTERNATIONAL ACADEMY OF PATHOLOGY CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
21
R•latsd p*rty transactlons
The tharity is related to Intemational Academy of Pathokmjy and European Society of Pathology by way
of being the Britssh DIVIS￿ which prrfyvides patho1(￿Y education.
During the year Ihe charity paid an annual subscription to the Inlemationol Academy of Pathology of
£12.19112020. £12.714).
During the year the chafity hosted a joint conference with the European Soctrety of Pathology and
Intemational Academy of Palhoi(*3y. £128.4￿> was received from the European Society of Pathology
being the charity's 50°/0 share of Income. £73.774 was paid by the charity to Intematsonal Academy of
Pathology being the surplu5 of the event and capits1￿1 fees.
22
Contingent Liablllty
BDIAP has undertaken 8 re¥￿ of I￿1r VAT position. The review is ongoing bul Klentified a potential
historical requirement to register for VAT. which may resuh in a liabilty- Al this Stage the liability
annot be reliably measured and therefore no provisKJn has been induded in the
21