REGISTERED COMPANY NUMBER: 00561584 {England and Wales)
REGISTERED CHARrrY NUMBER.. 2119455
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
FOR
THE ASSOCIATION OF CUNICAL
PATHOLOGISTS
Parkers
Chartered Accountants and Registered Auditors
Comtslius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
Page
Report of the TNstees
Report of the Independ•nt Audltors
statement of Flnanelal Activitiès
10
Balanc• Shè•t
Notes to the Financial Statements
12 10 19
Detailed Statement of Financial Activities
20 to 21

THE ASSOCIAllON OF CLINICAL
PATHOLOGISTS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
The Associallon of Clinical Palhologisls was first set up In 1927 and, the charitable company was
incorporated in 1956. The Association is a charitable company limlled by guarantee. 11 is govemed by ils
Memorandum and Articles of Assttialion adopted by special resolution dated 3 October 1996 and updated on
5th Ocl(knr 2017. 11 is registered ag a charity wth the Charity Commission for England and Wales. The
Members of the charitable company are named on page 4 and are also the charivs Trustees. The company
Members, each guaranteg to contrfbule £1 In the event of the charitable company winding up.
The Trustees, who aro also Directors of the charity for the purposes of the Companies Act, herewiih submit
their annual report and the audited financial statements for the year ended 31 Decembgr 2024. The trustees
have adopted the provisons of the Statement of Recommended Practi￿ ISORPI FRS 102 "A¢¢ounling and
Reporting by chari￿$., Sssued In 2015. In preparing this annual report and financial statements of the charity.
The financial statements have been prepared in accordanG9 Wth the accounting policies sel out In notes to
the aC￿unts and comply with the charitys governing document, the Charities Act 2011 and "Accounting and
Reporting by Charities.. Stslemenl of Recommended Practice. as referenced above, applicable to charities
preparing their accounts in a￿OrdanCe with the Finanryal Reporting Stanijard applicable in the UK and
Rgpublic of Ireland (published on 16 July 2014 and amgnded by Uwlate Bulletin 1 published on 2 February
20161.
OBJECTIVES AND ACTIVITIES
Oblectlves of the chartty
In setting our objective and providing seNices our Truytees have gfven carefijl consideration to thg Charities
Comrnission's general guidance on public benefit. The principal objectives of the AsKKiation are the
promolKJn and encourag8m8nt of the prdcbce of clinical pathobgy, posl9raduate education and prof8sslonal
developm8nl for pathologists.
ACHIEVEMENT AND PERFORMANCE
Revlew of actlvltles and perfomiance
The Association's income derives primarily from membership subscripllons, sub8crSptions and other earnings
from the Joumal of Clinical Pathology {¢o-owned by the ACP and the British Medical Journal Publishing
Group) and investrnents. All primary-purpose trading activities of the Association have been transferred to the
A5socAation. These were formerty carried out through the whollyryowned trading subsidiary, ACPath Limited.
which was established in May 1996.
The accounts of the Assoaalion for 2024 show a surplus of £266.47312023.. £317.7511 including a £198,782
gain 12023.. £291,4201 on investments. During 2024. the Joumal of ClinKal Pathology made a surplus
amounting to £234,087 {2023'. £224,634). During 2024, the Association'5 premises in Dyke Road in Hove
were sold. generating a capital sum of £453,(X)O which has sUbseqUen￿Y been added to our investments
managed by Rathbon8 Brothers PLC.
Most educational mealings continue lo b8 hekl online, greauy Teducing costs. As part of tho support and
deveLopment programme for the Association's membeTY, the Trustees have decided to continue to offer the
courses and meetings free of charge to membeTS, subject lo perw)dic review.
Al speakers at these meetings are considered for the Bfttmfrtt medal which. in 2024 was 8wafded lo Dr
Bridget Wilkins. Thè Dyke Lecture was given by Professor lan Tomlinson. who was duly awarded the
companion Dyke medal. The Marshall medal for outstanding contribution to the ACP'S activiknes was awardod
to Dr Marion Wood.
During 2024, the Association published four issues of our in-house joumal for membgrs. ACP nM. The
¢owned Joumal of Clinical Pathology, a ￿eer￿VieWed academic iournal, is published monthly anil retains
go¢xl impact factor in its field.
Page I

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
ACHIEVEMENT AND PERFORMANCE
Awards and Grants during 2024
In 2024 Drs Zhu, Chiu, Thomas, Vincent, Buttercase, Mendorca, Amram, Heihre, Geddes, Johul were offered
support from the ACP Student Research Fund. Travel grants were awarded lo Ors Lloyd, De Butler,
Adebambo. Westby, Young and Clarke. Incentive Prizes were awarded lo Drs Parsons, Freimane and Foster.
Journalism prizes were awarded to Drs Bracey, Ruane, Issa, Whyte and Prol Lucas and poster prizes Ic>[ the
"Palh It> Su¢¢ess" M￿ling in Newcastle were awarded. A Career Development Award was awarded to Dr
Ruane.
A Donation was made to the Royal College of Pathologists. undergraduate summer school.
New appointments
Dr l Frayling's term as Past President ended on 15th June 2024. Dr Lance Sandle was appointed as
President Ele¢t on 15th June 2024. Dr 8 Wilkins bec2me HOr￿rary Se¢re¢ary.
FINANCIAL REVIEW
Subscriptions
OrdinarylExlraordinary IUKIEirel wlh paper copies JCP
Trainee IUKIEirel with paper copie5 JCP
First S Year Consullanls IUKIEirel with paper COFNes JCP
Overseas members with paper copies JCP
Retired without Journal (UK and Overseas)
£130
£50
£60
£150
£34
Members are able to choose lo lake on-line awess only lo the Journal of Clinical Pathology al a Teduced rate.
Trainees who chose lo lake on-line acce55 onSy are able to do so free of charge.
Investment policy
The Association's stockbrokers. Rathbone Brothers PLC. offer the Association a Managed Portfolio service.
The value of the Association's invèstmènts as at 31 December 2024 had increased lo £ £3.407.796 Ralhbone
Brothers PLC Gontinves lo invest to provide the Associztion with income. In this year il was deGided that the
dividend income would continue to be re-invested
The Association's Finance Committee reviews investment strategy annvalty with our investment rNanager5. 11
is the charity's poliGy lo specrfi¢ally exclude investments in armaments and tobacco.
Resèrves policy
Since the Assooation's inception in 1927 as an unincorporated body. il has been recognised as a charity bul
at no lime has any appeal been made to the publi¢ for funds. Reserves have 8risen from the surplus ol its
annual InGomé (comprising members, subscriptions, investment gains and surplus income from the Joumal of
Clinical Palhologyl over annual expenditure.
The Association's annual expenditure is approximately £300,000 and, in order lo safeguard the running of
activities such as Scientrfic Meetings, educational couises. meetin95 and grants funded by the Association.
is essential that an adequate reserve ol general funds is held.
The Journal of Clinical Pathology pioduced a surplus in 2024 which was Used to subsidise the Association's
other aclivilies., however these profits cannot be relied upon long temi.
FUTURE DEVELOPMENTS
The Associ31iDn will continue to support and develop postgraduaie edu¢ab'on for pathologists by olganising
meetings, trainin9 courses, publicalion ol journals and Offe￿n9 grantg lo suppori palhologists and palhologisls
In training who wish to Ljndertake periods ol further study. The Trustees are looking lo increase the amounts
of the grants where funds permit.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of (rust, and constituies a limited company. limited
by guarantee, as defined by the Companies Act 2(K)6.
Page 2

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organlsation
The Council of the Association comprises of the Chalmian of Councll. Honorary Treasurer. Honorary
Secretary, President, Piesident-elect, and other elected memb6r5. as listsd on page 4.
The Council meets quarterfy to administer the As50cialion. Durtng 2024 ACP Council held meotings
on-line via Zwm and two face-lo-face,. one in Cardiff and one in London. The 2024 Annual General Meeting
took place on 15th June London. Sub-committee5 in Chemical P01hology. Forensic Pathology,
Haematology, Hh8top8thology, Molecular Pathology. Immunology. Microbio109y, Education and a Trainee
Members, Group meet throughout the year on-line lo discuss matters pertaining to the various spècialities.
The Finance Committee typically meets ￿ce a year lo review the financial affairs of the Association but, in
2024, only one meeb'ng was a￿anged by the ACP Office for administrative reasons. The Association's Central
Office in Hove was sold in December 2024 with the employed office stsff members now wr)rking 1000A
remotely.
Indu¢tion and training of new trustees
Trustees are norninated by their peers and each nominee must be an ordinary member of the Assoaation of
Clinical Palhologisls. If more than four nominations are received, ballot papers are sent to all ordinary and
retired members. Trustees are elected for a fixed lern of three years. All new m8mb6rs of Council recglve
copy of an Induction pack, which includes infomialion from the Charity Commission as well as infomialK)n
relating specrfically to the Association.
Rlsk Management, Goveman¢e and Internal Control
The Trustees actively review the major risks whlch the charity faces on a regular basis.
The Trustees are involved in the day-to dayaoperations of the charity lo such an extent that they are aware of
maintaining suffirAenl leve15 of funding lo ensure resources are available to continue op8rating. They also
examine other operational and business risks faced by the charty and work to implement systerns to mitigate
8Ignfficanl risks, Induding data security and wider organisalional resilience.
Momborshlp of th• asso¢latlon
The general membership as al 31 December 2024 was 948. During 2024. 12 new Ordinary members and
129 new trainee members were accepted. The present membership comprises 547 Ordinary and Retired
members, 11 Honorary members. 3 Extraordinary members and 387 Trainee members.
REFERENCE AND ADMINISTRATNE DETAILS
Reglstgred Company numbor
00561W IEnglan¢J an¢J Wal9$1
Registered Charty numb•r
209455
RegIster￿ offl¢è
Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ
Page 3

THE ASSOCIAnON OF CLINICAL
PATHOLOGISTS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
Trustees
S Lishman
L Sandl&
l Frayling
A Pugh
T El-shanawany
B Wilkins
K Skordilis
M Morgan
President
President Elect
Past President
Chair of Council
Honorary Treasurer
Honorary Secretary
Honorary Secretary
Member ol Council
Elected June 2023
President Eled from June 2024
Office ended June 2024
Appointed June 2023
Appointed June 2023
Appoinled June 2024
Office ended June 2024
Appointed Education Secretary June 2024
FIF
W Simpson
C Gray
C Meek
M Clarke
H Boume
S Ruane
W Wassit
A Wort
H Haynes
Member ol Council
Member ol Council
Member of Council
Member ol Council
Member ol Council
Member ol Council
Member ol Council
Member of Council
Member of Council
Appointed June 2022
Appoinled June 2022
Appointed June 2022
Appointed June 2023
Appointed June 2023
Appointed June 2023
Appointed June 2023
Appointed June 2023
Appointed June 2024
Auditors
Parker5
Chartered Accountants and Registered Auditors
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ
Solicitors
Hempsons
40 Villiers Street
London
WC2N 6NJ
Bankers
HSBC Bank PIC
Coventry DSC
Harry Weston Road
West Midlands
CV3 2TQ
Investment Managers
Rathbone Brothers PIC
1 Curzon Street
London
W1J 5FB
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The l¥uslees (who are also the directors ol The Association 01 Clinical Pathologists for the purposes ol
company lawl are responsible f()r preparing the Report ol the Trustees and Ihe financial st8lements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Acoounling Pracb"cel.
Page 4

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
REPORT OF THE TRUSTEES
FOR THEYEAR ENDED 31ST DECEMBER 2024
STATEMENT OF TRUSTEES. RESPONSIBILITIES - ¢ontlnu•d
Company law requires the Iruslees lo prepare flnanclal stslem&nts for each financial year which givè a true
and fair view of the slal8 of affalrs of the chadtable company and of the incoming resources anil application of
resources, including the income and expenditure, of the charitable company for Ihat period. In preparing
Ihose financial slalernents, the Iruslees are required to
select suitable accoLtnting poliC￿S and then appty them consistenlty..
obseNe the methods antl principles in the Charity SORP.
make judgements and estimates that are Teasonable and prudent..
prepare the financial slalemenls on the going concem basis unless il is inappropriate to presume that the
char¢table company will continue in business.
Thg Iruslees are responsibje for keeping proper accounting records which disckjse with reasonable accuracy
al any time the financial position of the charitsble company and lo enable them to ensure that th8 financlal
slalements comply wth the Companies Act 2006. They are also responsib￿ for safeguarding tho assets of
the charitable company and hence for tsking reasona￿8 steps for the p￿ventIOn and detection of fraud and
other irregularities.
In so far as the Iruslees are awarg..
therè is no rdevant audit information of which the charitsble ¢ompany's audllors are unaware,. and
the Iruslees have taken all steps that they ought lo have taken to make themselv88 aware of any relevant
audit information and to establish Ihat the audttors are aware of that infomia￿n.
AUDrroRS
The aLKlitors. Parkers, wll be proposed for re4ppointment at the forthcoming Annual General Meeting.
Approved by order of Ihe boord of trustses on ..
. and signed on Sts behalf by..
Dr T El-Shanawany- Trustee
Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
Opinion
We have audited the financial statements ol The Association Of Clinical Pathologists (the 'chaiitable
¢ompanll lor the year ended 31 st December 2024 which Comprise the Slalement of Financial Aclivilies. the
Balance Sheet and notes lo the financial stalemenls, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the stale ol the charitable Company's affairs as at 31 st December 2024 and of
its incoming iesoijrces and application of resources, including its income and expendilure, for the year then
ended.,
have been properly prepared in accordance with United Kingdom Generalty Accepted Accounting Practice;
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audil in accordance with International Standards on Audiling IUKI IISAS IUKII and
applicable law
Our responsibilities under those standards are further dèsciibed in the Auditors,
sponsibi11tie5 lor the audit of the financial statements section ol OLJr report. We are independent of Ihe
Charitable company in accordance with Ihe ethical requirernents that are relevant to our audit ol the financial
slatemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained
is sufficienl and appropriate to provide a basis lor our opini()n.
Conclusions relating to goSng concem
In audiling the financial slalemenls, we have concluded thal Ihe Iruslee5' use of the going con¢em basis of
a¢counling in the preparation of the finanaal statements is appropriate.
Based on the work we have performed, we have not Identified any material un¢ertainties relaling to event5 or
cc)nditions IhÈt. individually or Gollectively. may ca51 significant doubl on the charitable company's ability to
continue as a going concern for a period of at least twelva monlhs from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities ol the trustees with respect lo g01r￿ con￿rn are described in the
relevant sections of this report.
oth8r infomiatlOD
The Irusiees are responsible lor Ihe other information. The other Inf¢)rmation comprises the information
included in the Annual Report, other than the financial statements and our Report of the Independenl Auditors
Ihereon.
Our opinion on the finan¢ial statements doe5 not cover the other infOr￿allOn and, except lo the extent
otherwise explicitly slated in our repori, we do not express any form of assurance conclusion Ihereon.
In connection with our audit ol the financial slalemenls. our responsibility is lo read the olher informalion and,
In doing so. consider whether the other information is materially inconsistent with the financial statemènts or
our knowledge obtained in Ihe audit or otherwise appears lo be mateTially misstated. 11 we Identify such
material in¢onsistencies or apparent material m1551atements, we are required to determine whether this gives
rise to a maleTièI misstatement in the financial slalements themselves. If. based on the work we have
performed. we conclude that the￿ is a m8leri81 misslatemenl of this olhei information. we are required to
report that fact. We have nothing lo report in this regard.
Opinlons on other mattèrs prescribed by th• Companies Act 2006
In our opinion, based on the work undertaken in the course ol the audil..
the infomation given In the Report of the Trustees for the financial yeaT lor which the linan¢ial statements
are prepared is consistent with the finanThal stalemenls.. and
the Report of the Tiustees has been prepared in accordance wrth applicat￿e legal requireTnents.
Page 6

REPORT OF THE INDEPENDENT AUDITORS TOTHE MEMBERS OF
THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
Matters on whlch w• ar¢ rèqulred to report by exception
In the light of the kno￿edge and understanding of the charitablg comp8ny and its envlronmenl obtained in thg
urse of the audit, we hav8 not identlfied material misstatements in the Report of the Trustees.
We have nothing to report in respect of the folk￿ing matters where the Companles Act 2006 requires u$ to
report lo you rf, in our opinion..
adequate accounting records have not bgen kept or retums adequate for our audit have not bgen raceivod
from branch8s not wsiled by us.. or
the financlal statements are not in agre@m8nt with the accountirw Tecords and relums.. or
Certain disck)sures of Iruslogs. ramungralion specrfied by law are not made., or
we have not received all the infomalion and gxplanations we require for our audit.. or
the Iruslees were not entitled to take advantage of the small companie5 exemplM)n from the requirement to
preparè 8 Strategic Report or in prèparing the Report of the Trustees.
R•sponslbllltles of trusto•s
As explained more fully in the Slalemenl of Trustees, R8sponsibllltles, the trustees (who are also the directors
of the charstable company for the purposes of company law) are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view, and for such intemal Control as
the trustees determine is n￿￿$S8ry lo enable the preparab'on of financial statements that are free from
material misstalemenl. whelhgr due lo fraud or error.
In preparing the financial statem9nts, the trustees are responsible for assessing the charitablg ￿mpanY'S
abillty lo continue as a going ¢oncem, dis¢loslng, as applieable. matters related lo going concfym and using
the going concern basts of a￿untIng unless the Iruslees either intend to liquidate the chartsble Company or
lo cease operations. or have no realistic allemalive but lo do so.
Page 7

REPORT OF THE INDEPENDE￿ AuD￿0fts TO THE MEMBERS OF
THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
Our responsibilities for the audit of the financial statÈments
Our objectives are to obtain reasonable assurance about wh61her the financial slatements as a whole are free
from material Tnisststement. whether due to fraud or error. and to issue a Report of the Independent Auditors
thal inclL¢oles our opinion. ReasDnable assurance is a high level of assurance, bul is not a guaranlee Ihal an
audit conducted in aGcordance with ISAS IUKI will always delect a material misstatement when il exists.
Misslatemenls can arisè from fraud or error and are considered malerial il. individually or in the a9gTegale,
they could reasonably be expected to inffiuence the economic decisions of users taken on the basis of ihese
financial slalemenls.
The 9Xtenl lo which our profjdures afe Capab￿ ol olelecling irregularities. including fraud is delailed below=
Based on our undersl8nding ol the wmpany and industry. we identified Ihat Ihe principal risks ol
non-compliance with laws and regulations related lo the UK Charily Commission, and we considered the
8xtent to which non~compliance might have a material effed on thè financial stalements. We also considered
those laws and regulations that have a direcl impact on the preparation of the financial statements such as
the Companies Act 2006. We evaluated rnanagernenl's Incentives and opportunities for fraudulent
manipulation of the Iinancial slalements (including the risk of OVerr￿e of controlsl and delemined that the
p￿ncipal risks were related lo investmenl valuations and inlercompany Gharges due to malerial misstalemenl
ol overdeclared costs. Audit procedures performed by the engagement team included".
DisGussk)ns with management, in¢luding consideration of known or suspe¢ted instances of non-¢ompliance
with laws and regulation and fraud",
Challenging assumptions and judgements made by management in their STgnificant accounting estimates.,
nd
Id8ntifying and testing journal Èntries, in particular any joumal entries posted with unusual account
cornbinations including journal entries which inflated the Company's results lor the period with unusual offset
entries and journal entries impa¢ling work in progress with unusual offset entries to detect any unusual
capitalisation of costs.
There ale inherenl limitations in the audit procedures described above and the further removed
non-compliance with laws and regulations is from the events and transactions reflected in tt)e financial
slatements, the less likely we wotjld becorne aware of f(. Also, the risk of not detecting a material
misstatement due lo fraud is higher than the risk of not delecling one resulting from error. as fraud may
involve deliberate concealment by. lor Èxample, forgery or Intentional misrepresentations, or through
collusion.
A further description of our responsibilities for the audit of the financial slalements is lo¢aled on the Financial
Reporting Council's website al www.Ir¢.org.uklaudilorsresponsibililies. This desGriplion foms part of our
Report of the Independent Auditors.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
Use of our report
This report is made solely to the charitable Companls members. as a body. in a¢cordan¢e with Chapter 3 of
Part 16 of the Companies Act 2006. OUT audit work has been undertaken so that we might stsle to the
charttable cwip8ny's members those matters we are required lo stsle to them in an autjilors, report and for
no other purpose. To the fullest exlenl pemiitted by law, we do not awepl or assume responsibility to anyone
other than the charitable company and the charitable company's members as a body. for our audit worl(, for
this report, orfor the opinions we have formed.
Annette Watson PhD Bsc FCA Isenior Statutory Audilorl
lor and on behalf of Parkers
Chartered Accountants and Registered Auditors
Comelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ
Date..
Page 9

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUND
FOR THE YEAR ENDEO 31ST DECEMBER 2024
2024
Unrestricted
fund5
2023
Tol31
funds
Notes
INCOMING RESOURCES FROM
Other Irading 8Ctivilies
Investment Income
Other income
46.725
75,154
234,087
48,869
66,839
224,634
Total
355,966
340,342
EXPENDITURE ON
Resources expende
212,S24
214,998
Charitable activities
Travel fund giant
Donation5. pryzes and sponsorship
Bsc student 9ranl
Immunology Iiaining fund exp&nditurg
Edu¢alic>nal meetings
3.500
3,100
16,728
2.042
35,248
1,892
13,050
21,988
1.204
33,493
Other
15,133
27,386
Total
288,27S
314.011
Nel gains on investments
198,782
291.420
NET INCOME
266,473
317,751
RECONCILIATION OF FUNDS
Total funds brought lornard
3,954,249
3,636,498
TOTAL FUNDS CARRIED FORWARD
4,220,722
3,954,249
The notes fom part of these financial statements
Page 10

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
BALANCE SHEET
31ST DECEMBER 2024
2024
Unrèstrict•d
funds
2023
Total
lunds
Notes
FIXED ASSETS
Tangible assets
Investments
3,887
3,228,069
379,524
3.122.369
10
3.231.956
3.501.893
CURRENT ASSETS
Debtors
Cash al bank
449,792
637,361
369,941
178.856
1.087.153
548,797
CREDITORS
Amounts falling (lue wthin one ye8r
12
198,3871
(%,4411
NET CURRENT ASSErs
988,766
452.356
TOTAL ASSETS LESS CURRENT
LIABIL￿lEs
4,220,722
3,954,249
NEf ASSErs
4220.722
3,954.249
FUNDS
Unrestricted funds
13
4,220.722
3,954,249
TOTAL FUNDS
4.220,722
3,954,249
These financial statements havo begn prepared in accordance wth the provistons appllcable lo tharitab18
companies subject lo the small companies regimg.
The fi
al statements were approved by the Board of Trustees aNI authorlsed for Issue
and were signed on ils behalf by..
T El-Shanawany- Trust
The note5 fomi part of these financral statements
Page 11

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
ACCOUNTING POLICIES
Basis of preparlng th• financial statements
The financial slatements ol the charitable company, which is a public benefit enlily under FRS 102,
have been prepared In accordancè with the Charities SORP IFRS 1021 'Accounting and Reporting by
Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in
aGCQTdance ￿rith the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 (effective 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard
appliGable in (he UK and Republi¢ of Ireland. and the Cornpanies Act 2006. The financia1 statements
have been prepared under the historical cost convention, with the excepb'on of investments which are
included at market value. as modified by the revaluation of certain assets.
Preparation of consolidated financial statements
The financial statements contain information about The Association Of Clinical Pathologists as an
individual company and do not contain consolidated financial information as the parent of a group. The
harity is exempt under Section 39912AI of the Companies Act 2006 from the requirements lo prepare
onsolidated financial ststemenls.
Income
All income is iecognised in the Slatemenl ol Financial Aclivilies c>nce the charily has enlillement to the
funds, it is probable Ihal the income will be received and the amount can be measured reliably.
Gifts in kind donated lor distribution are included al valuation and recognised as incoTne when they are
distributed lo the projects Girts donated lor resale ale in¢luded as inLome when they are 501d.
Donated facilities are ineluded al the vakne lo the charity Whe￿ this can be quantilied and a third part is
bearing Ihe cost. No amounts are Included in the financial statements for services donated by
volunleers.
Investment income is earned through holding shares lor investm&nl purposes and includes divid8nds
and interest.
Membership incorNe is ￿cogniSed in the penod lo whi¢h it ￿lates. A membership year runs
co-teminus with the accounting period.
Expenditure
Liabilities are recognised as expenditure as soon as Ihere is a legal or conslruclive obligation
committing the charity to Ihal expenditure, it is probable that a transfer of econowic 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 Ihal aggregate all cost
related lo the category. Where costs cannot be directly atlribL¢ted lo particular headings they have been
allocated lo adivilies on a basis consistent with thè use ol ￿sources.
Fundraising costs are those incurred in seeking voluntary contributions and do not indude the costs of
disseminating information in support of the charitable activates. Support costs are those Costs incurred
direetly in suppori of expenditure on the objects of ihe charity and include prosecl management carned
out by Headquarters. The support costs con51Sts of governance costs with regard lo the chari12ble
company. The 5UPPOTI cost has been split proportionally in relation tu the expenditure for activities
undertaken directly. M3nagement and adminislralion ¢osls are throes incurred in connection with
dministration of the Charity and compliance with constitutional and statutory requirements.
Tangible fixed assets
Deprecialion is provided at the following annual ral6s in order to write off each asset over its estimated
useful life.
Freehold property
Presidenlial tneda5
Compuler and office &quipmenl
not provided
nol provided
15 /0 on redLJcing balance
Page 12
continued

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
NOTES TO THE FINANCIAL sTATEmE￿s - contlnued
FOR THE YEAR ENDED 31ST DECEMBER 2024
ACCOUNTING POLICIES . contlnu•d
Tangible fsxed assets
The freehold propety and presidential medal are not depreuated on the basls that both the
depreriation charge and 8ccumulated depreciation are immaterial due lo the very long life and the high
residual vafue sustained through regular maintenance. Tho freehold property was transferred al
d9em8d Cost on 1 January 2014 (the transttion date for FRS1021.
Taxation
The ¢harity is exempt from corporation tax on its charitable actiwlies.
Fund accountlng
Unrestricted funds can be used li accordance wlih the charftabkg oblectlves al the discretion of thè
trustees.
Designated funds comprlse unrestrfcted funds that have been set aslde by the Twstees for particular
purposes. The alm and use of each designated fijnd is sel out in thè notes to the financfial stalernents.
Reslrid8d funds Can onty be used for parlicular Testricted purposes wtthin the objecls of the charity.
Restrictions arise when specified by the donor or when funds are raised for parbcular restricted
purposes.
Penslon costs and oth8r post4etlrom•nt ￿ne1￿ts
The Association contributes lo defined ¢onlribub'on schemes for the benefit of employees at Central
Office. Payments ar& chargèd to the SOFA as Incurred. The Association provides no other post
retirement benefits lo its employees.
Cornpany status
The Association is a prSvate charbtable company Ilmlted by guarantse, reglslered In England and
Wales. The members of the Charitable company are the Trustees named on page 2. In the event of
the Association being wound up, the liability in respect of the guarantee is limited to £1 per member of
the Association.
Investmont pollcy
Investments held as fixed assets are ststed at market valuo. Any gain or loss on revaluation is taken to
the Stalemenl of Financial Activities. The investment income on the SOFA Is stated nel of any tax
cfedits bul inclusivo of withholding and other taxes.
Irrecoverable VAT
The Association is registered for VAT bul is Classrf￿d as partk3lly exempt by reason of the Substan￿81
amount of educational aclivty. As such, Ihe charity is unable lo recover all VAT on expendtiure
incurred.
OTHER TRADING ACTIVITIES
2024
2023
Member subscriptKJns
46.725
48,869
P8g813
continued...

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
INVESTMENT INCOME
2024
2023
Other fixed asset invest- Fll
Interest- Fixed asset secvrilies
52.249
22.905
47,292
19,547
75,154
66,839
RESOURCES EXPENDED
Raising donations and legacies
2024
2023
Postage
ACP News
Central office expenses
Counal meetsng
Depreciation
Irrecoverable VAT
Investment management costs
ACP Website
11,413
24,074
28,917
13,986
637
3,842
27,$44
2,000
8,082
35.855
20,006
19.608
749
5.649
25,572
2,000
112,413
117,521
SUPPORT COSTS
Governance
costs
Other resouT¢es expended
15,133
Support costs, included in the above. are as follows..
Govemance costs
2024
Other
resources
expended
2023
Total
activities
Audilors, remuneTalion
Bank charges
Professional fees
Accountancy fees
1,750
279
8,354
4,750
1.750
747
20,139
4.750
15,133
27,386
Page 14
¢orntinued_..

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
NOTES TO THE FINANCIAL STATEMENTS - contlnuod
FOR THE YEAR ENDED 31ST DECEMBER 2024
NET INCOME1(EXPEND￿uRE}
Net incomel{expenditure) is staled after chargiWlcredibng)'.
2024
2023
Auditors, remuneration
Dopreciation- owned assets
1.750
637
1.750
749
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31st December 2024 nor f
the year ended 31st December 2023.
STAFF COSTS
The average nKsnthty number of empbyees during the year was as follows:
2024
2023
Admlnistratfve staff
No employees received emoluments in excess of £60,000.
TANGIBLE FIXED ASSETS
Computer
and
office
equipment
Freehold
property
Presidontial
medal
Totals
COST
At 1st January 2024
Disposals
375,000
(375,000)
280
23.169
398.449
1375.0001
At 31st December 2024
280
23,169
23.449
DEPRECIATION
At 1st January 2024
Charge for year
18.925
637
18,925
637
At 31st December 2024
19.562
19,562
NET BOOK VALUE
Al 31st December 2024
280
3,607
3,887
Al 31st December 2023
375,000
280
4.244
379,524
Page 15
continued...

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
10. FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At 1st January 2024
Additions
Disposals
Revaluations
3,122,369
227,163
1133,8961
12,433
At 31st December 2024
3.228.069
NET BOOK VALUE
At 31 st De￿mber 2024
3.228,069
Al 31st December 2023
3,122,369
There were no investment assets outside the UK.
C05t or valuation al 31st Oecember 2024 is represented by..
Listed
investments
Valuation in 2024
Cost
1.030,917
2.197,1S2
3,228,069
11 fixèd asset investments had not been revalued they would have been included al the lollowng
historical cost..
2024
2023
Cost
2,197,152
2,103,885
Fixed asset investments were valued on an open market basis on 31 st December 2024 by Ralhbones.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Other debtors
VAT
Prepayments
262.577
185,064
901
1.250
253,247
114,609
835
1,250
449,792
369.941
Page 16
continued...

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
NOTES TO THE FINANCIAL STATEMENTS . Contlnued
FOR THE YEAR ENDED 31ST DECEMBER 2024
12. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade credltors
Amounts owgd lo group undertaklngs
Social security and olher laxes
Accrued expenses
38.283
52,362
2.492
5.250
38,829
52,362
5,250
98.387
96.441
13. MOVEMENT IN FUNDS
Nel
movement
In funds
Transfers
between
funds
At
31112124
At 111124
Unrestrfctsd fvnds
General fund
Propety & equipment
Fair value resetve- freehold propety
Fair valu9 res8rve- inveslmenls
2,703.889
32.393
199,483
1,018,484
254,040
227,989
{28.5061
(199,4831
3,185,918
3.887
12,433
1.030,917
3.954.249
266N73
4,220,722
TOTAL FUNDS
3.954.249
266.473
4,220.722
Net movement in funds, Induded in the above are as follows:
Incoming
resources
Resources
expende
Gains ar)d Movement
losses
in funds
Unrestricted funds
General fund
Fair value reserve- investments
355?66
1288,275)
186,349
12.433
254.040
12.433
355,966
1288,2751
198,782
266.473
TOTAL FUNDS
355.966
1288,2751
198.782
266.473
Page 17
continued...

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
13.
MOVEMENT IN FUNDS-continued
Comparatives for movement in funds
Nel
movement
in funds
Al
31112123
At 111123
Unrestricted funds
General fund
Pioperly & equipment
Summer School
Fair value reserve- freehold Property
Fair value reserve- investments
2,499.232
32.393
3,000
199.483
902.390
204,657
2,703.889
32.393
{3,0001
199,483
1.018,484
116,094
3,636.498
317,751
3.954,249
TOTAL FUNDS
3.636,498
317.751
3,954,249
Comparative nel movemenl in ftjnds, included in the above are as follows=
Incoming
resource5
Resources
expended
Gains arKI
losses
Movement
in funds
un￿St11¢ted funds
General fund
Summer School
Fair value resetve- investments
340,342
1311,0111
13,0001
175,326
204,657
13,0001
116,094
116,094
340,342
1314,0111
291,420
317,751
TOTAL FUNDS
340,342
1314,0111
291,420
317,751
Property and equipment
Fund established in 1996 to maintain and equip the then new head Offi￿ al 189 Dyke Road. lo enable
it to better serve the needs of Ihe members.
Education and training
Established in 1996 in order lo prowde awards and scholarships to undergraduates, ne￿Y appointed
members and members awaiting con5ullanl slalus.
Immunology training
Established in 2005 to provide funds to support the immunology training charitable aclivily for
genera11ng funds.
Summer School
RCP3th organise a summer school lor trainees. ACP has agreed lo help fund this event, £3,000 has
been set aside loi future summer schwls.
Page 18
continued.

THE ASSOCIATION OF CLINICAL
PATHOLOGISTS
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31ST DECEMBER 2024
14. RELATED PARTY DISCLOSURES
Therè were no related party transacUons for the yèar ended 31st December 2024.
Page 19