DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
**REGISTERED COMPANY NUMBER: CE022999 (England and Wales) REGISTERED CHARITY NUMBER: 1191220**
**Report of the Trustees and**
**Unaudited Financial Statements**
**for the Year Ended 31st March 2023**
**for**
**British Elbow & Shoulder Society**
Bennett Brooks & Co Ltd Chartered Accountants 14 Grosvenor Court Foregate Street Chester Cheshire CH1 1HG
DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
**British Elbow & Shoulder Society**
## **Contents of the Financial Statements for the year ended 31st March 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|13|
|**Detailed Statement of Financial Activities**|14|to|15|
DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
**British Elbow & Shoulder Society**
## **Report of the Trustees for the year ended 31st March 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of 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).
The trustees are pleased to present their report together with the British Elbow and Shoulder Society's Statement of Financial Activities for the year ended 31 March 2023.
## **OBJECTIVES AND ACTIVITIES**
## **History aims and activities of the Society**
The British Elbow and Shoulder Society was originally established as an unincorporated association on 28 March 1987 with the following aims:
1) To foster and advance the science and practice of elbow and shoulder care through scientific meetings, educational programs and by encouraging research.
2) To organise regular interdisciplinary scientific meetings.
3) To strive to standardise assessment, scoring of disability, and nomenclature relevant to the elbow and shoulder.
4) To improve quality of care by encouraging the national collection of scientific data and functional outcomes.
5) To function as an educational society to further learning through scientific meetings, educational fellowships, and both knowledge-based and skills-based educational courses.
6) To foster research through scientific meetings, fellowships and by encouraging research collaboration between members.
7) To cultivate international relationships in the field of elbow and shoulder care.
The Society became a Charitable Incorporated Organisation ("CIO") on 9 September 2020.
## **Review of activities and future developments**
The Society holds an annual event comprising an instructional course and annual scientific meeting to which all members are entitled to attend. In the financial year under review, the four day instructional course and annual scientific meeting was held at the Liverpool ICC on 21-24 June 2022. The instructional course focussed on elbow and shoulder trauma in 2022 and covered such areas as the management of scapular fractures, the management of sterno-clavicular joint and acromio-clavicular joint injuries and the the management of humeral shaft fractures.
In June 2023, the instructional course and annual scientific meeting will be held at the ICC Wales in Newport and this year the focus is on sports injuries.
The Society has prudently built up significant reserves which were transferred to the CIO on 1 April 2021 and has the intention in the future of providing research grants or other forms of assistance in the furtherance of its aims and objectives. These reserves are shown in the brought forward total funds.
## **Public benefit**
The trustees have taken the Charity Commission's general guidance on public benefit into consideration in preparing their statements on public benefit contained within this Trustees' Report.
The trustees confirm they have complied with their duty in Section 17 of the Charities Act 2011 to have regard to the public benefit guidance published by the Charity Commission for England and Wales
## Benefits and beneficiaries
As stated above, in accordance with its charitable objectives, the CIO strives to support education, research and clinical excellence in the speciality of elbow and shoulder surgery. The CIO's ultimate beneficiaries are therefore patients, and benefits to patients are provided through advancing knowledge of, practice in and setting standards for the speciality.
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**British Elbow & Shoulder Society**
## **Report of the Trustees for the year ended 31st March 2023**
## **STRATEGIC REPORT Achievement and performance The instructional course and annual scientific meeting**
The instructional course and annual scientific meeting is the largest annual educational event that the Society organises and hosts. In June 2022, the event was held at the Liverpool ICC. Details of prizes awarded by the Education Committee can be viewed here https://bess.ac.uk/2022-prizes/.
Medical equipment companies attend the medical and trade exhibition which runs in parallel with the Annual Scientific Meeting.
In June 2023, the Annual Scientific Meeting will be held at the Wales ICC.
## **The BESS Elbow Update Symposium**
The BESS Elbow Update Symposium took place on 3-4 October 2022 in Sheffield. The next such event will be held in Coventry in 2024.
## **Financial review**
## **Introduction**
This is the second full year that the Society has operated under its new CIO status (it previously operated as an unincorporated association for over 30 years).
Overall, the Society made a surplus of £xxx in the year. By way of comparison, in the year ended 31 March 2022, a surplus of £119,992 was generated. This reduction in the surplus generated year on year was due to increased conference costs: the annual scientific meeting was held in person for the first time post Covid in June 2022 whereas it had been held wholly online in the prior year, with much lower online set up and running costs.
## Incoming Resources
Total incoming resources for the year ended 31 March 2023 was £625,366. As expected the income has returned to what might be considered historically normal levels with a full in person Annual Scientific Meeting being held in June 2022 in Liverpool. The total income generated in the prior year was £365,790.
The Society's two principal income streams are therefore membership subscriptions and the surplus generated from the annual scientific meeting:
- Members comprise mainly surgeons, trainee surgeons and allied health professionals. Membership numbers stood at 745 as at 31 March 2023, slightly down on the number of 764 at the prior year end. Membership subscription income (including income which is allocated to the Journal of Shoulder and Elbow) increased slightly in 2023 from £174,618 to £182,406 due to the inflationary increase placed on subscription fees.
- Income generated by the annual scientific meeting (from delegates attending and from industry exhibitors) which increased from £167,348 to £412,530 year on year.
Income from bank interest deposits was £1,045 in the year, higher than normal due to the higher rates of interest available in in bank savings accounts. The trustees will continue to consider other forms of investment in due course to maximise savings income.
## Resources expended
Overall, total resources expended for the year ended 31 March 2023 were £604,106. This was significant increase on the prior year's activity when total resources expended was £237,856, an increase of £366,250. The main reasons for the year on year increase are:
- an increase of c.£300k in annual scientific meeting expenses as the meeting was held face to face rather than online. - an increase of £11,030 in wages and £14,285 in pensions costs due to the appointment of a new staff member from early 2022. - increases in insurance costs and in-person meeting expenses.
In respect of the irrecoverable VAT charge in the Detailed Statement of Financial Activities, BESS makes both taxable and exempt supplies and is therefore "partially exempt" for VAT. Broadly, VAT on costs related (or ‘attributable’) to taxable supplies Annual Scientific Meeting activity) is recoverable whilst VAT incurred on costs related to exempt supplies (membership subscriptions) is irrecoverable. At the year end an adjustment is required (taking into account all the transactions in the year) to calculate the VAT which is irrecoverable and this is charged as an expense to the statement of financial activities.
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**British Elbow & Shoulder Society**
## **Report of the Trustees for the year ended 31st March 2023**
## **STRATEGIC REPORT Financial review**
## **Principal funding sources**
The CIO therefore receives its funding from members in the form of annual subscriptions and from any surplus generated from running an Annual Scientific Meeting.
Current subscription rates may be viewed on the CIO's website at https://bess.ac.uk
## **Investment policy and objectives**
The CIO's Constitution states that monies for investment shall be deposited or invested in the name of the CIO by the trustees in any investments permitted by law for the investment of Trust Funds under the Trustee Act 2000 https://www.legislation.gov.uk/ukpga/2000/29/2001-02-01?view=extent&timeline=true
The Trustees may at any time and from time to time vary such investments for others of like nature. We have investments held on varying timeframes to benefit from the best interest rates available. We have sufficient short-term funds available to be realised within a short space of time to meet unforeseen commitments incurred by the CIO, such as legal, other consultancy or professional expenses.
The CIO's historic policy is for the funds to be deposited with a range if institutions so as to obtain best returns from bank interest. We have not engaged an investment adviser to date, although that is something the Trustees are considering.
The Trustees research available interest rates are compared with others in the marketplace to ensure they are competitive.
## **Reserves policy**
The Trustees regard it as prudent to retain sufficient reserves to cover the costs of the Annual Scientific Meeting plus any future contractual commitments, and in addition covering about six months of operation expenditure under normal circumstances. On this basis, free reserves of at least £450,000 should be maintained.
The Trustees acknowledge that the CIO is holding additional reserves and there are a number of reasons for this as outlined below: - Increased staff costs with the need to professionalise under the new CIO structure and the recruitment of an additional staff member along with the need to rent occasional office space for the proper functioning of
the Society
- The return to face to face meetings of council and committees post Covid-19
- The return of grant awards post Covid-19
- The Covid-19 pandemic has impacted on all Society activities and the CIO needs to continue to maintain the flexibility demonstrated over the past three years to cope with continuing uncertainty.
Fortunately, the levels of reserves that Society holds, which are for the most part, readily accessible, are such that Society will be able to continue to operate effectively notwithstanding the current socio-economic uncertainties.
## **Going concern**
The potential for disruption to the CIO from the pandemic, lockdowns, quarantine restrictions and social distancing measures has been considered by the trustees and a review of the finances undertaken accordingly. During 2022/23, the trustees actively reviewed the conference budget on a regular basis to assess any changes in income or expenditure and our financial resilience in the face of further disrupted revenues and activities.
Membership income has remained broadly stable. We have worked hard to provide our members with support, guidance and alternatives to the key benefits from membership, including the Annual Scientific Meeting and to date this has proved successful. Course delivery moved online in summer 2021 as it had in the previous year, with positive feedback from the delegates, and the Trustees are confident that the Annual Scientific Meeting can operate successfully on that basis if needed in the future. A full in person Annual Scientific Meeting was held at the Liverpool ICC in June 2022 and the current plan is for a full in person Annual Scientific Meeting to be held at the ICC in Newport, Wales in June 2023.
The trustees are satisfied that the CIO's income and demand for services are broadly stable, and can be delivered in an effective way to meet the needs of the members.
BESS has cash reserves and has no requirement for external funding. The Trustees have a reasonable expectation that the BESS has adequate resources to continue in operational existence for the foreseeable future and, therefore, there are no material uncertainties over the Charity's financial viability. They continue to consider the going concern basis of accounting is appropriate in preparing the annual financial statements.
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**British Elbow & Shoulder Society**
## **Report of the Trustees for the year ended 31st March 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The Society is governed by its constitution and constitutes a Charitable Incorporated Organisation.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
CE022999 (England and Wales)
**Registered Charity number** 1191220
## **Registered office**
Royal College of Surgeons of Eng 35-43 Lincoln's Inn Fields London WC2A 3PE
## **Trustees**
Prof Jonathan Rees President Prof Amar Rangan Immediate Past President Prof Peter Brownson Past President Mr Steve Drew Vice President Mr Jaime Candal-Couto Honorary Secretary Mr David Clark Past Treasurer Mr Paul Jenkins Honorary Treasurer Mr Vijay Bhalaik Data and Audit Officer Mr Steve Gwilym Research Committee Chairman Mr Adam Watts Education Committee Chairman Mr Ananth Ebinesan Communications and Website Officer Mr Ian Horsley AHP Representative Mr Nashat Siddiqui Equality, Diversity and Inclusion Lead (appointed 23.6.22) Miss Joanna Winton Early Career AHP Representative (appointed 23.6.22) Miss Aparna Viswanath Early Career Surgeon Representative (appointed 23.6.22)
## **Independent Examiner**
Bennett Brooks & Co Ltd Chartered Accountants 14 Grosvenor Court Foregate Street Chester Cheshire CH1 1HG
## **COMMENCEMENT OF ACTIVITIES**
The application from the British Elbow and Shoulder Society to the Charity Commission to become a Charitable Incorporated Organisation (CIO) was approved with the Charity Commission on 9 September 2020.
Due to issues relating to the ongoing Covid-19 pandemic at that time, the Society was unable to obtain a working current bank account with its banker of 30 years, NatWest plc, until April 2021 and therefore continued to operate via its former structure, as an unincorporated association, until 31 March 2021. This accounting period ending 31 March 2023 therefore represents the second full year of operating as a CIO and the first financial year post Covid where a full in person annual scientific meeting was held.
The CIO became registered for VAT on 1 April 2021.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
.............................................................................. Prof Jonathan Rees - Trustee
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DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
**Independent Examiner's Report to the Trustees of British Elbow & Shoulder Society**
## **Independent examiner's report to the trustees of British Elbow & Shoulder Society ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Claire Hills BSc (Hons), FCA The Institute of Chartered Accountants in England and Wales
Bennett Brooks & Co Ltd Chartered Accountants 14 Grosvenor Court Foregate Street Chester Cheshire CH1 1HG
Date: .............................................
Page 5
DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
**British Elbow & Shoulder Society**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31st March 2023**
|2023
Unrestricted
fund
Notes
£
**INCOME FROM MEMBERS FROM**
Income from Members
2
182,406
Income from Annual Scientific Meeting and Elbow
Update Symposium
3
412,530
Investment income
4
1,045
Other income
29,385
**Total**
625,366
**EXPENDITURE ON**
Raising funds
5
18
**Educational meeting expenses**
6
BESS conference and EUS
337,347
Other
271,908
**Total**
609,273
**NET INCOME**
16,093
**RECONCILIATION OF FUNDS**
Total funds brought forward
719,713
**TOTAL FUNDS CARRIED FORWARD**
735,806|2022
Total
funds
£
174,617
167,348
685
23,140
365,790
-
213,654
24,202
237,856
127,934
591,779
719,713|
|---|---|
The notes form part of these financial statements
Page 6
DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
## **British Elbow & Shoulder Society**
## **Balance Sheet 31st March 2023**
|2023
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
12
503
**CURRENT ASSETS**
Debtors
13
71,543
Cash at bank
703,046
774,589
**CREDITORS**
Amounts falling due within one year
14
(13,286)
**NET CURRENT ASSETS**
761,303
**TOTAL ASSETS LESS CURRENT LIABILITIES**
761,806
**ACCRUALS AND DEFERRED INCOME**
16
(26,000)
**NET ASSETS**
735,806
**FUNDS**
17
Unrestricted funds
735,806
**TOTAL FUNDS**
735,806|2022
Total
funds
£
670
230,154
673,235
903,389
(184,346)
719,043
719,713
-
719,713
719,713
719,713|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
12-Jul-2023
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Prof Jonathan Rees - Trustee
............................................. Mr Paul Jenkins - Trustee
The notes form part of these financial statements
Page 7
DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
**British Elbow & Shoulder Society**
## **Notes to the Financial Statements for the year ended 31st March 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment - 20% reducing balance
## **Taxation**
No corporation tax liability arises on ordinary membership activity and primary purpose trading.
## **Fund accounting**
The Society is not in receipt of any donations or legacies which need to be operated as separate funds.
Income comprises subscriptions received from members or generated from the running of an annual conference (the Annual Scientific Meeting) and is set towards the general objectives of the Society and as such is unrestricted.
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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**British Elbow & Shoulder Society**
## **Notes to the Financial Statements - continued for the year ended 31st March 2023**
## **2. INCOME FROM MEMBERS**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2023|2022|
|£|£|
|Subscriptions from members|136,805|133,361|
|Journal of Shoulder and Elbow allocation from subscriptions|45,601|41,256|
|182,406|174,617|
|3.|INCOME FROM ANNUAL SCIENTIFIC MEETING AND ELBOW UPDATE SYMPOSIUM|
|2023|2022|
|£|£|
|Conference Income - delegates|155,605|51,970|
|Conference income - industry|256,925|115,378|
|412,530|167,348|
|4.|INVESTMENT INCOME|
|2023|2022|
|£|£|
|Deposit account interest|1,045|685|
|5.|RAISING FUNDS|
|Other trading activities|
|2023|2022|
|£|£|
|Interest payable and similar charges|18|-|
|6.|CHARITABLE ACTIVITIES COSTS|
|Direct|
|Costs|
|£|
|BESS conference and EUS|337,347|
|7.|SUPPORT COSTS|
|Information|
|Management|Finance|technology|
|£|£|£|
|Other resources expended|100,368|53,152|13,080|
|Journal|Governance|
|Expenses|costs|Totals|
|£|£|£|
|Other resources expended|75,761|23,053|265,414|
**----- End of picture text -----**
continued...
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**British Elbow & Shoulder Society**
## **Notes to the Financial Statements - continued for the year ended 31st March 2023**
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2023|2022|
|---|---|---|
||£|£|
|Depreciation - owned assets|167|168|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
## **Trustees' expenses**
Trustees' travel and subsistence expenses were paid in accordance with the Society's expense policy.
## **10. STAFF COSTS**
During the financial year, The Society had two members of staff, a senior operations manager and an administrative assistant (employed from 1 February 2022).
The senior operations manager is currently employed by a sister Society, the British Association of Plastic, Reconstructive and Aesthetic Surgeons (BAPRAS), and they are allocated to the CIO on a full time basis. Staff costs for the senior operations manager are included as a recharge from BAPRAS within office expenses. The costs of the administrative assistant are run though the CIO's payroll scheme.
The average monthly number of employees during the year was as follows:
|BESS Office
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME FROM MEMBERS FROM**
Income from Members
Income from Annual Scientific Meeting and Elbow
Update Symposium
Investment income
Other income
**Total**
**EXPENDITURE ON**
**Educational meeting expenses**
BESS conference and EUS
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
Page 10|2023
2022
2
1
Unrestricted
fund
£
174,617
167,348
685
23,140
365,790
213,654
24,202
237,856
127,934
591,779
continued...|
|---|---|
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
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## **British Elbow & Shoulder Society**
## **Notes to the Financial Statements - continued for the year ended 31st March 2023**
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**TOTAL FUNDS CARRIED FORWARD**
**12.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1st April 2022 and 31st March 2023
**DEPRECIATION**
At 1st April 2022
Charge for year
At 31st March 2023
**NET BOOK VALUE**
At 31st March 2023
At 31st March 2022
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
VAT
Conference expenses in advance
Prepayments
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 15)
Trade creditors
VAT
Other creditors
Conference income in advance|Unrestricted
fund
£
719,713
Computer
equipment
£
838
168
167
335
503
670
2023
2022
£
£
39,344
141,121
11,366
-
-
89,033
20,833
-
71,543
230,154
2023
2022
£
£
210
-
12,940
14,889
-
10,712
136
-
-
158,745
13,286
184,346|
|---|---|
continued...
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**British Elbow & Shoulder Society**
## **Notes to the Financial Statements - continued for the year ended 31st March 2023**
## **15. LOANS**
An analysis of the maturity of loans is given below:
|Amounts falling due within one year on demand:
Bank overdrafts
**16.**
**ACCRUALS AND DEFERRED INCOME**
Accruals and deferred income
**17.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|2023
2022
£
£
210
-
2023
2022
£
£
26,000
-
Net
movement
At
At 1.4.22
in funds
31.3.23
£
£
£
719,713
16,093
735,806
719,713
16,093
735,806
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
625,366
(609,273)
16,093
625,366
(609,273)
16,093
Net
movement
At
At 1.4.21
in funds
31.3.22
£
£
£
591,779
127,934
719,713
591,779
127,934
719,713
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
365,790
(237,856)
127,934
365,790
(237,856)
127,934|
|---|---|
continued...
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DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
**British Elbow & Shoulder Society**
## **Notes to the Financial Statements - continued for the year ended 31st March 2023**
## **17. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Net
movement
At 1.4.21
in funds
£
£
591,779
144,027
591,779
144,027|At
31.3.23
£
735,806
735,806|
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
991,156
991,156|Resources
Movement
expended
in funds
£
£
(847,129)
144,027
(847,129)
144,027|
|---|---|---|
## **18. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st March 2023.
Page 13
DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
## **British Elbow & Shoulder Society**
## **Detailed Statement of Financial Activities for the year ended 31st March 2023**
|**INCOME FROM MEMBERS**
**Income from Members**
Subscriptions from members
Journal of Shoulder and Elbow allocation from
subscriptions
**Income from Annual Scientific Meeting and Elbow Update Symposium**
Conference Income - delegates
Conference income - industry
**Investment income**
Deposit account interest
**Other income**
Royalty income (journal)
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Bank interest
**Educational meeting expenses**
Conference expenses
Elbow update symposium expense
**Other**
Awards and Fellowships granted
**Support costs**
**Management**
Wages
Pensions
Office Expenses
Insurance
Telephone
Sundries
Meeting Expenses
Travel & Subsistence
**Finance**
Bank charges
Disallowed VAT
Computer equipment|2023
£
136,805
45,601
182,406
155,605
256,925
412,530
1,045
29,385
625,366
18
321,868
15,479
337,347
6,494
14,630
780
66,615
4,409
75
-
8,966
4,893
100,368
3,099
49,885
168
53,152|2022
£
133,361
41,256
174,617
51,970
115,378
167,348
685
23,140
365,790
-
31,789
78
31,867
4,202
3,600
-
44,911
164
108
1,144
4,993
4,777
59,697
1,859
27,204
168
29,231|
|---|---|---|
This page does not form part of the statutory financial statements
Page 14
DocuSign Envelope ID: F7449BB0-384F-43B5-B346-670B3D1FC5A4
## **British Elbow & Shoulder Society**
|**Detailed Statement of Financial Activities**
**for the year ended 31st March 2023**
**Finance**
**Information technology**
Postage and stationery
IT running costs
**Journal Expenses**
BESS Journal Editorial fees
BESS Journal Expenses
American Journal Costs
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income**|2023
£
105
12,975
13,080
19,500
26,000
30,261
75,761
23,053
609,273
16,093|2022
£
-
15,289
15,289
22,000
26,000
29,570
77,570
20,000
237,856
127,934|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15