## **THE INTERNATIONAL SOCIETY FOR REGENERATIVE BIOLOGY** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED** **30 APRIL 2022** **Charity number 1194038** ## **THE INTERNATIONAL SOCIETY FOR REGENERATIVE BIOLOGY** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 30 APRIL 2022** |**Contents**|**Page**| |---|---| |Report of the Trustees|1-4| |Independent Examiner’s Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Accounts|8-9| ## **THE INTERNATIONAL SOCIETY FOR REGENERATIVE BIOLOGY** REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2022 The trustees present their report and the independently examined financial statements of the Charitable Incorporated Organisation (number 1194038) for the year ended 30 April 2022. The trustees who served during the year and to the date of this report were: Dr Kenneth Poss Dr Sabine Eming Dr Henry Hamilton Roehl Dr Elly Tanaka ## **Registered Office** Department of Biomedical Services University of Sheffield Firth Court, Western Bank Sheffield South Yorkshire S10 2TN **Bankers** Barclays Bank plc 9 Portman Square London W1A 3AL **Independent** Jacob Cavenagh & Skeet **Examiners** 5 Robin Hood Lane Sutton Surrey SM1 2SW **Solicitors** Radcliffes Le Brasseur 5 Great College Street Westminster London SW1P 3SJ Page 1 ## **THE INTERNATIONAL SOCIETY FOR REGENERATIVE BIOLOGY (ISRB)** REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2022 (continued) ## **Objectives and Activities** ## _Summary of the ISRB purposes_ The promotion of the science of Regenerative Biology, in particular but not exclusively, through the delivery of an annual conference and associated workshops for the public benefit. The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. ## _Summary of activities_ ISRB has hosted two online conferences (ISRB Virtual Launch and Regeneration Around the World) with more than 300 attendees at each event. There are webinars several times a month with attendance of 50100. The first General Meeting of the Membership will be held on November 14[th] 2022 with two prestigious lectures followed by the ISRB business meeting. The first in person ISRB conference is to be held in Vienna Austria (September 3-6 2023) with an expected attendance of 300. The board is also in the planning stages of organising outreach activities to the general public. These activities will raise the public awareness of the importance of regenerative biology. ## _ISRB Executive Committee (the Trustees) and Advisory Board Meetings_ ISRB’s executive board met quarterly from April of 2021 to September of 2022. Their meetings covered expenses, outreach, meeting planning, and advertising. The Trustees have worked throughout to carry out the ISRB’s purposes for the public benefit. The advisory board met biannually beginning in March of 2021. These meetings allowed for the board to weigh in on the progress of the society and to make recommendations for promoting and growing the membership and society activities. ## **Achievements and Performance** ## **Include a summary of how the Charity’s work has made a difference to the circumstances of its beneficiaries** ## _ISRB Past Events_ ISRB Virtual Launch April 8, 2021 ISRB was inaugurated in the spring of 2021 via a virtual launch event over Zoom on April 8, 2021. The meeting had six invited speakers and eight selected talks. ## _ISRB Regeneration Around the World April 19-20, 2022_ For ISRB’s second virtual conference, the society hosted a virtual event which spanned the globe with 24 hours of continuous scientific talks focused on regeneration. There were 28 selected talks and 23 invited speakers. ## _ISRB Webinar Committee_ ISRB has held monthly webinars consistently starting in September 2021. One webinar a month lasting one hour with two speakers in a variety of time zones. Starting in September of 2022, ISRB began hosting three webinars a month with a webinar per specified time zone. Zone 1 webinar, the first week of the month for East and South Asia. Zone 2 webinar, the second week of the month for Europe, West Asia, and Africa. Zone 3 webinar, the third week of the month for The Americas. The webinar committee has grown from a group of five overseeing the monthly event to three committees to manage individual zones. Page 2 ## _ISRB Awards_ ISRB was pleased to be able to offer prestigious awards (presented in the form of a medal) in two distinct categories. The ISRB Rising Star Award is presented to those who are determined to be deserving of a young investigator award based on recommendations from two peers which highlights authored impactful publications and their scientific significance, the originality of their research program and independence in regenerative biology. Nominees must be within 7 years of starting an independent research group. Nominators must be ISRB members, but nominees need not be. Self-nominations are not accepted. The ISRB Lifetime Achievement Award is presented to those that have shaped regenerative biology research through lasting and impactful scientific contributions. Nominations should be cosigned by two peers who can speak to the nominee’s scientific contributions, achievements, and impact in the field of regenerative biology. The nominators should explain why the nominee is deserving of this award, can reference up to five impactful publications, their scientific significance, and their impact on the scientific community through their mentorship, leadership, community service, outreach, and advocacy. Nominees need not have an active research program. Nominators must be ISRB members, but nominees need not be. Self-nominations are not accepted. ## _Summary of the ISRB beneficiaries_ ISRB provides a much-needed platform for the dissemination of research findings and the education of researchers. ## **Financial Review** In its first year, the ISRB has raised £ 33,887 in fees. The primary annual membership fees are £75 for standard membership, £35 for post-doctoral membership £25 for student members and £750 for institutional membership. Approximately half of the members have the standard membership with post-doctoral membership and student members making up one quarter each. Funds have also been raised by attendance fees for the two online conferences that have been held. An additional £7,339 has been raised from grants and sponsorship by other charities as well as publishers of scientific journals. The ISRB currently holds ~£30,000 in reserve in case of unforeseen circumstances (for example cancellation of an ISRB event). The Trustees aim to double this amount over the next year. ## **Structure, governance and management** ## _Organisation_ The ISRB has a CIO structure and the constitution is available at www.isrbio.org. There are 4 to 5 Trustees including the Chair, Chair-elect, the Past-Chair, Treasurer and Secretary. The ISRB currently has a Chair (Ken Poss), Chair-elect (Elly Tanaka), Treasurer (Sabine Eming) and Secretary (Henry Roehl). In September of 2023, the leadership of the ISRB will turn-over as follows: Ken Poss will become the PastChair for two years, Elly Tanaka will become Chair for two years, Sabine Eming will retire and Henry Roehl will remain secretary for another two years. The membership will also elect a new Chair-elect and a new Treasurer. The appointment of Trustees is detailed below: (1) The terms of the Trustees are as follows: - (a) Four years for the Treasurer and Secretary (b) The Chair Elect will serve for two years, then progress to Chair for two years and then become Past Chair for two years. Thus, each Chair will serve a total of six years as a Trustee. (2) The Secretary, Treasurer and Chair Elect are elected by balloting the Membership of the CIO. (3) Candidates must have Membership in the CIO and be nominated and seconded by existing Members. These nominations must be provided to the Secretary twenty-one days in advance of the balloting date. The nominator must confirm that the candidate is willing to serve for the full term. (4) May not serve as a Trustee for more than four years, except the Chair Elect who will serve for six years. (5) Any Trustee vacancy other than by annual retirement shall be appointed directly by the remaining Trustees. Page 3 ## ## ## ## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF **THE INTERNATIONAL SOCIETY FOR REGENERATIVE BIOLOGY** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2022 set out on pages 5 to 8. ## **Responsibilities and basis of report** As the charity’s trustees (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 Charites 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** 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 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 the 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. ## **Paul Newton FCA** ## **Jacob Cavenagh & Skeet** 5 Robin Hood Lane Sutton Surrey SM1 2SW Date: 12/12/2022 Page 5 ## **THE INTERNATIONAL SOCIETY FOR REGENERATIVE BIOLOGY** STATEMENT OF FINANCIAL ACTIVITIES (incorporating the income and expenditure account) FOR THE YEAR ENDED 30 APRIL 2022 |||**_Unrestricted_**| |---|---|---| |||**_2022_**| ||**_Note_**|**_£_**| |**_Income from_**||| |Fee Income||33,887| |Other Income||7,339| |**Total income**||41,226| |**_Expenditure on_**||| |Bank Charges||909| |Grants||367| |IT Support||965| |Printing and Reproduction||14| |Accounting||1,560| |Subscriptions||3,724| |Foreign exchange losses/(gains)||(1,335)| |**Total expenditure**||6,204| |**Net income / movement in funds**||35,022| |**Reconciliation of funds**||| |Unrestricted fund balance brought forward||-| |**Unrestricted fund balance carried forward**||35,022| Page 6 ## ## ## ## **THE INTERNATIONAL SOCIETY FOR REGENERATIVE BIOLOGY** NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2022 ## **1 ACCOUNTING POLICIES** ## **(a) Basis of accounting** The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006, applicable accounting standards and with the Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are prepared in pounds sterling rounded to the nearest pound. The International Society of Regenerative Biology meets the definition of a public benefit entity under FRS 102. The Society is a company limited by guaranteed registered in England & Wales with its registered office at Department of Biomedical Services, University of Sheffield, Firth Court, Western Bank, Sheffield, South Yorkshire, S10 2TN. ## **(b) Going concern** There are no significant uncertainties about the charity’s ability to continue as a going concern. ## **(c) Income recognition** Donations and other income are included in the Statement of Financial Activities (SOFA) when the charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Revenue grants are accounted for on an accruals basis, matching it to the actual projects undertaken in the period rather than uniformly over the grant period. Income received from delegates and sponsors for courses are recorded in the year the course takes place. ## **(d) Expenditure recognition** All expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities and has been classified under headings that aggregate all costs related to the category. Charitable activities comprise expenditure directly related to the objects of the charity, including administration and support functions including any related provisions. It also includes governance costs, which comprise expenditure to comply with statutory and legal requirements ## **(e) Irrecoverable VAT** Irrecoverable VAT is included with the expense upon which it is incurred. ## **(f) Transactions in foreign currencies** Transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Assets and liabilities at the balance sheet date are translated into sterling at the rate ruling at the balance sheet date. All resultant differences arising from the above policy are dealt with in the Statement of Financial Activities. Page 8 ## **THE INTERNATIONAL SOCIETY FOR REGENERATIVE BIOLOGY** NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2022 (continued) ## **1 ACCOUNTING POLICIES (CONTINUED)** ## **(g) Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit. ## **(h) Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount ## **(i) Financial instruments** The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **2 CREDITORS** |Trade creditors
Accruals and deferred income|**_2022_**
**_£_**
1,560
7,340
8,900| |---|---| ## **3 MOVEMENT ON FUNDS** |**MOVEMENT ON FUNDS**|||||| |---|---|---|---|---|---| |||**_At_**|**_Total_**|**_Total_**|**_At_**| ||**_1 May_**||**_Income_**|**_Expenditure_**|**_30 April_**| ||**_2021_**||||**_2022_**| |||**_£_**|**_£_**|**_£_**|**_£_**| |**_Unrestricted Funds_**|||||| |General Fund||-|41,226|(6,204)|35,022| Page 9