Docusign Envelope ID: 42B7F143-DCFA-4D83-B9B5-74409CDAD678
REGISTERED COMPANY NUMBER: CE031006 (England and Wales) REGISTERED CHARITY NUMBER: 1201397
Report of the Trustees and
Unaudited Financial Statements for the period 22 December 2022 to 31 December 2023
for
The British Hip Society
Bennett Brooks & Co Ltd Chartered Accountants Suite 1, First Floor Coachworks Arcade Northgate Street Chester Cheshire CH1 2EY
Docusign Envelope ID: 42B7F143-DCFA-4D83-B9B5-74409CDAD678
The British Hip Society
Contents of the Financial Statements for the period 22 December 2022 to 31 December 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Notes to the Financial Statements | 9 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
Docusign Envelope ID: 42B7F143-DCFA-4D83-B9B5-74409CDAD678
The British Hip Society
Report of the Trustees for the period 22 December 2022 to 31 December 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 period 22 December 2022 to 31 December 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).
INCORPORATION
The charitable company was incorporated on 22 December 2022.
OBJECTIVES AND ACTIVITIES
History aims and activities of the Society
The British Hip Society was originally established as an unincorporated association in 1989 with the following aims:
1) To foster and advance the science and practice of hip 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 hip.
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 hip surgery.
The Society became a Charitable Incorporated Organisation ("CIO") on 20 December 2022.
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 three-day annual scientific meeting and instructional course was held at the Edinburgh Conference Centre from 8-10th March 2023 and the most recent event was at the ICC Belfast, from 28th Feb to 1st March 2024.
The meetings focused on various aspects of hip surgery from sports injuries to joint replacement. The instructional course focussed on basic science, trauma around the hip and revision hip surgery. In 2025 the Instructional course will cover all aspects of sports injury and conditions that would cause pain in the young population. It will be held in Harrogate from 5-7th March 2025.
The meetings in Edinburgh and Belfast had special educational programmes for medical students and physiotherapists to educate them on hip problems and encourage the next generation of clinicians to develop an interest in dealing with hip problems. 20 medical students were provided with free places for the conference and two were provided with bursaries to cover travel expenses.
The BHS Culture and Diversity Committee Schools Engagement Programme aims to support the widening of participation with respect to socio-economic groups in medical and surgical careers. We ran our inaugural annual Schools Engagement Session at the BHS meeting in Edinburgh 2023 where more than 100 non-selective state schools were invited to send students to the participate in a session to introduce them to medicine and surgery, which was very well received and subsequently had a similar session in Belfast in March 2024. Information about it was published in the Journal of Trauma and Orthopaedics. (https://issuu.com/britorthopaedic/docs/boa_jto_v11_i02/s/25871721).
The Society has prudently built significant reserves which were transferred to the CIO on 20 December 2022 and has been used for 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.
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The British Hip Society
Report of the Trustees
for the period 22 December 2022 to 31 December 2023
OBJECTIVES AND ACTIVITIES
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.
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 March 2023, the event was held at the Edinburgh ICC.
Medical equipment companies attend the medical and trade exhibition which runs in parallel with the Annual Scientific Meeting.
The British Hip Society Forum and other events
The BHS Forum allows senior trainees to get the opportunity to spend time with BHS Executives and leaders in the field of Hip surgery to learn about leaderships skills, networking for collaborative work and opportunities for complex case discussion. It was held at the Royal College of Surgeons premises in Glasgow in Jan 2024. It was funded by the society. The trainees were recommended by the Training Programme Directors of the various deaneries in the UK (approximately 20) and has received positive feedback.
Webinars are held every two months with international Guest societies and are popular amongst the members. Content may be viewed here https://britishhipsociety.com/midweek-special-webinars/
We also hold Basic Hip Arthroplasty courses for the junior trainees to teach them the basics of hip replacement surgery. This is held 2-3 times a year and attended by 16 trainees at the time.
Mentorship Programme
The society runs a well-acclaimed mentorship programme for Trainees and Consultants to guide them through their career in Orthopaedic Surgery.
British Hip Society fellowships
The British Hip Society is fully committed to education and, as part of this offers several fellowships to assist members in developing their knowledge and skills. The awards are made at the annual meeting and are given on the basis of an interview by members of the Education Committee and Past Presidents of British Hip Society.
We run several fellowship programmes that fund travelling fellowships to the centre of choice for trainees (two fellowships for trainees of £2,500 each); physiotherapists (two fellowships of £750 each) and a medical student electives bursary (two of £750 each).
We run two PhD research fellowships with ORUK to encourage the next generation of surgeons to perform research. This pays for the salary of two researchers (£55,000 each) with 50% contribution from Orthopaedic Research UK (ORUK), a medical charity, to take time out of training to perform research relevant to the Hip society.
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The British Hip Society
Report of the Trustees for the period 22 December 2022 to 31 December 2023
FINANCIAL REVIEW
Introduction
This is the first full year that the Society has operated under its CIO status (it previously operated as an unincorporated association since its establishment in 1989).
Overall, the Society generated a small loss of £26,081 in the year. A number of historic balances have been written off to ensure that the CIO accounts are in order going forward.
Incoming Resources
Total incoming resources for the year ended 31 December 2023 was £412,697.
The Society's two principal income streams are membership subscriptions and the income generated from the annual scientific meeting and other meetings.
Current subscription rates may be viewed on the CIO's website at https://britishhipsociety.com/join-bhs/
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Members comprise mainly surgeons, trainee surgeons and allied health professionals all of whom pay different rates. Membership subscription income increased in the year from £66,298 to £69,095.
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Conference registration fees for the year were £140,683 and other conference and industry sponsorship income totalled £202,919. This compares to £150,531 and £217,414 in the prior year respectively.
Interest income from bank deposits was £3,482 in the year (£508 in the year ended 31 December 2022), the increase being 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 2024 were £442,260.
The single largest expense is the cost relating to the Annual Scientific Meeting (shown as "conference" in the accounts) which was £286,200 in the year (£285,078 in the prior year). After that, research costs account for £77,500 of the expenditure.
Principal funding sources
As noted above, the CIO receives its funding from members in the form of annual subscriptions and from any surplus generated from running an Annual Scientific Meeting.
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.
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, accessible reserves of approximately £300,000 should be maintained.
The Trustees acknowledge that the CIO is holding additional reserves which is felt prudent following the Covid-19 pandemic which impacted on all Society activities. The CIO needs to continue to maintain the flexibility demonstrated over the past three years to cope with continuing uncertainty.
The levels of reserves that the British Hip Society holds, which are for the most part readily accessible, are such that the Society will be able to continue to operate effectively notwithstanding the current socio-economic uncertainties.
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The British Hip Society
Report of the Trustees for the period 22 December 2022 to 31 December 2023
FINANCIAL REVIEW
Going concern
The potential for disruption to the CIO from another pandemic, the potential change in government and the cost-of-living crisis have been considered by the trustees and a review of the finances undertaken accordingly. During 2023/24, 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.
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.
British Hip Society has cash reserves and has no requirement for external funding. The Trustees have a reasonable expectation that the British Hip Society 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.
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
CE031006 (England and Wales)
Registered Charity number 1201397
Registered office
c/o British Orthopaedic Association Royal College of Surgeons 35-43 Lincoln's Inn Fields London WC2A 3PE
Trustees
A Gambhir President A Hamer Past President (resigned 1.3.24) M Wilson President Elect (resigned 1.3.24) Prof T Board Vice President Prof D Meek Immediate Past President Miss K Gill Secretary A Malviya Treasurer T Petheram Editorial Secretary M Whitehouse (appointed 1.3.24) S Kutty Education Chair (appointed 1.3.23) Miss S Hook (appointed 1.3.24) Ms N Gibbs (appointed 1.3.24) V Khanduja (resigned 1.3.24) J Howell (resigned 1.3.24) S Buckley (resigned 1.3.24) H Wynn-Jones (resigned 1.3.24)
Company Secretary
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The British Hip Society
Report of the Trustees for the period 22 December 2022 to 31 December 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Claire Hills BSc FCA Bennett Brooks & Co Ltd Chartered Accountants Suite 1, First Floor Coachworks Arcade Northgate Street Chester Cheshire CH1 2EY
01-Oct-2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................................. A Gambhir - Trustee
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Independent Examiner's Report to the Trustees of The British Hip Society
Independent examiner's report to the trustees of The British Hip Society ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the period 22 December 2022 to 31 December 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:
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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
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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
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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 FCA
Bennett Brooks & Co Ltd Chartered Accountants Suite 1, First Floor Coachworks Arcade Northgate Street Chester Cheshire CH1 2EY
1 October 2024
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The British Hip Society
| Statement of Financial Activities | Statement of Financial Activities | |
|---|---|---|
| for the period 22 | December 2022 to 31 December 2023 | |
| Unrestricted | ||
| fund | ||
| Notes | £ | |
| INCOME FROM | ||
| Income from members and annual conference | 412,697 | |
| Investment income | 2 | 3,482 |
| Total | 416,179 | |
| EXPENDITURE ON | ||
| Conference costs and other overheads | 442,260 | |
| NET INCOME/(EXPENDITURE) | (26,081) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 539,892 | |
| TOTAL FUNDS CARRIED FORWARD | 513,811 |
The notes form part of these financial statements
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The British Hip Society
| Balance Sheet | ||
|---|---|---|
| 31 December 2023 | ||
| Unrestricted | ||
| fund | ||
| Notes | £ | |
| FIXED ASSETS | ||
| Intangible assets | 5 | 21,014 |
| CURRENT ASSETS | ||
| Debtors | 6 | 64,202 |
| Cash at bank | 545,862 | |
| CREDITORS | 610,064 | |
| Amounts falling due within one year | 7 | (117,267) |
| NET CURRENT ASSETS | 492,797 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 513,811 | |
| NET ASSETS | 513,811 | |
| FUNDS | 8 | |
| Unrestricted funds | 513,811 | |
| TOTAL FUNDS | 513,811 | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
01-Oct-2024
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A Malviya - Trustee
The notes form part of these financial statements
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The British Hip Society
Notes to the Financial Statements for the period 22 December 2022 to 31 December 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.
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.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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.
2. INVESTMENT INCOME
£ Deposit account interest 3,482
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
£ Computer software amortisation 3,478
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 December 2023.
continued...
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Docusign Envelope ID: 42B7F143-DCFA-4D83-B9B5-74409CDAD678
The British Hip Society
Notes to the Financial Statements - continued for the period 22 December 2022 to 31 December 2023
4. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
Trustees' travel and subsistence expenses were paid in accordance with the Society's expense policy.
5. INTANGIBLE FIXED ASSETS
| COST At 22 December 2022 Additions At 31 December 2023 AMORTISATION At 22 December 2022 Charge for year At 31 December 2023 NET BOOK VALUE At 31 December 2023 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR VAT Accruals and deferred income 8. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
Computer software £ 30,315 6,577 36,892 12,400 3,478 15,878 21,014 £ 64,202 £ 5,087 112,180 117,267 Net At movement At 22.12.22 in funds 31.12.23 £ £ £ 539,892 (26,081) 513,811 539,892 (26,081) 513,811 |
|---|---|
continued...
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Docusign Envelope ID: 42B7F143-DCFA-4D83-B9B5-74409CDAD678
The British Hip Society
Notes to the Financial Statements - continued for the period 22 December 2022 to 31 December 2023
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 416,179 | (442,260) | (26,081) |
| TOTAL FUNDS | 416,179 | (442,260) | (26,081) |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 December 2023.
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Docusign Envelope ID: 42B7F143-DCFA-4D83-B9B5-74409CDAD678
The British Hip Society
Detailed Statement of Financial Activities for the period 22 December 2022 to 31 December 2023
£
INCOME
| Income from members and annual conference Conference registration fees Other conference and industry sponsorship income Subscriptions from members Investment income Deposit account interest Total incoming resources EXPENDITURE Conference costs and other overheads Accountancy fees Research costs Consultancy fees Postage and stationery Subscriptions Bank fees and card collection charges Insurance Bursary payments and fellowship awards IT software & consumables Travel costs Conference and dinner costs Computer software amortisation Total resources expended Net expenditure |
140,683 202,919 69,095 412,697 3,482 416,179 6,202 77,500 8,343 5 130 2,952 6,549 2,500 24,947 23,454 286,200 3,478 442,260 442,260 (26,081) |
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This page does not form part of the statutory financial statements
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