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2025-03-31-accounts

Charity Number: 215869

The British Institute of Radiology

Report and Financial Statements for the 12 months ended 31 March 2025

Contents Page
Report of the Trustees 2
Independent Auditor’s Report 8-10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Financial Statements 14

Audrey House, 16-20 Ely Place, London EC1N 6SN, UK

The British Institute of Radiology Accounts for the period 1 April 2024 to 31 March 2025

Report of the Trustees

The trustees present their annual report and the audited financial statements for the 12 months ended 31 March 2025. The financial statements comply with the requirements of the Statement of Recommended Practice (2019) – Accounting and Reporting by Charities.

Reference and Administrative Details

Status In 1958, Her Majesty The Queen granted a Royal Charter of Incorporation to The British Institute
of Radiology and the Institute became a registered charity in 1963.
Charity Number 215869
Registered Office Audrey House, 16-20 Ely Place, London EC1N 6SN
Country of registration England and Wales
Patron Her Majesty The Queen (1958-2022)
The Trustees
Officers
President Dr Nick Screaton
Vice Presidents Ms H Hughes
Dr E Castellano
Dr T C See
Honorary Treasurer Mr D Pounder
Honorary Secretary Revd Dr M Kirby

Ordinary members of the Council

Prof H McNair Mrs N Blackler Dr A Eccles Mrs W Wilkinson Dr P Strouhal Dr A Kumar Mrs S Hassan

Trustees who retired on 30 September 2024: Prof S Keevil, Dr S Jackson and Dr A Ahmed,

New trustees who joined on 1 October 2024: Revd Dr M Kirby, Dr P Strouhal, Dr A Kumar and Mrs S Hassan.

Chief Executive Sara Purdy (to 5thSept 2025), Claire Angus
Bankers Barclays Bank plc, 1 Churchill Place, London E14 5HP
Auditor Sayer Vincent LLP, 110 Golden Lane, London, EC1Y 0TG
Investment Managers LGT Wealth Management, 14 Cornhill, London EC3V 3NR

2

The British Institute of Radiology Accounts for the period 1 April 2024 to 31 March 2025

Objects and Activities

The British Institute of Radiology was established by Royal Charter in 1958 and its objects are set out in its governing document:

The Institute’s earlier history can be traced back to the first meeting of the X-Ray Society in 1897 and the amalgamation in 1927 of the British Institute of Radiology and the Röntgen Society. It became a registered charity (number 215869) in 1963 and its affairs are regulated by its charter and bylaws.

Council

The Council is the governing body of the Institute and normally comprises 12 trustees, who are members of the Institute. Of the 12, six are appointed to specific ‘officer’ positions. Trustees are normally appointed for three years. Council met four times during 2024– 2025.

Nominations for Council vacancies must be supported by two existing members of Council and are approved at the annual general meeting. Trustees are normally familiar with the work of the Institute when they are appointed. In addition, new trustees attend an induction session and are sent a series of ‘core’ documents containing information relevant to the governance, organisation and running of the Institute. Some trustees attend seminars or training courses specific to their appointment.

Management and organisation

The Council is responsible for the overall direction of the Institute and delegates specific responsibilities concerned with the governance of the Institute to officers and committees. In particular, it delegates some of the more detailed financial and processrelated governance issues to two committees, one concentrating on finance and investment and the other on audit matters. The Chief Executive is responsible for the overall management of the Institute and is accountable to the trustees.

Key management personnel include the members of the Senior Management Team which consists of Chief Executive, Director of Education (vacant), Director of Finance and Operations (vacant), Director of Membership & Systems and two co-Heads of Publishing.

Mission statement

Working together to improve medicine, health and patient care through the science and practice of imaging and radiation oncology.

Core values

The BIR:

Public benefit statement

The BIR’s objects fall under the following charitable purposes as defined by the Charities Act 2006:

The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. They consider that all of the aims and objectives in this report are there in order ultimately to benefit the public via education, debate and knowledge-sharing of those in the health and medical imaging profession and industry.

3

The British Institute of Radiology Accounts for the period 1 April 2024 to 31 March 2025

Strategy

The BIR’s 2022-2027 strategy focuses on accelerating the BIR’s growth in terms of the outcomes it achieves and the impact it makes, with a focus on six main drivers:

Becoming an international organisation, serving professionals around the world as part of its core offering

Helping the public better understand imaging and radiation oncology.

Achievements and Performance

We are confident that through the organisation’s work over the last year, the BIR has made a significant difference to both its beneficiaries and wider society as a whole.

In September 2024 we welcomed our new President Dr Nick Screaton , Consultant Cardiothoracic Radiologist at Royal Papworth Hospital in Cambridge. Dr Screaton, having previously served as a trustee and Vice President of Publishing, has already played a key role in shaping the long-term strategy and vision of the organisation. The inauguration event saw the BIR team warmly welcoming Dr Screaton as President and extending gratitude to the outgoing president, Professor Stephen Keevil.

On the same day in September we hosted the Annual General Meeting which for the first time in years was a hybrid event facilitating both in person and virtual participation. This provided an excellent opportunity to invite members to hear about the organisation’s achievements over the previous year, and engage with Council and staff members face-to-face at our offices in London, and online.

Key achievements in 2024-2025 included:

External affairs and Partnerships

The British Institute of Radiology Accounts for the period 1 April 2024 to 31 March 2025

taxonomy for incident learning in clinical imaging, MRI, and nuclear medicine. This guidance marked a significant advancement in the UK's healthcare system, providing a voluntary learning framework to support clinical services in reviewing their practices when using both ionising and non-ionising radiation.

Awards and grants

Education and events

Publishing

Related parties

The BIR, together with The Society and College of Radiographers (SCoR) and The Institute of Physics and Engineering in Medicine (IPEM), is a Member Organisation of Radiology and Oncology Congresses (ROC), a charity registered in England and Wales no: 1087939.

5

The British Institute of Radiology Accounts for the period 1 April 2024 to 31 March 2025

Financial review

At an operating level, the Institute recorded a deficit of £425,873 for year ending 31 March 2025, which compares with a deficit of £208,280 for the 12 months to 31 March 2024. The Institute recorded a net deficit of £566,317, in comparison to a net surplus of £221,428 in the previous year after investment gains/losses/

Income for the 12 months to 31 March 2025 was £1.987 million compared to £1.997 million in the 12 months to 31 March 2024. The principal sources of revenue are publishing (£1,036k), education (£424k), membership (£300k), BIR video courses (£40k) and dividend income from the investment portfolio (£162k).

Expenditure for the year was £2.4 million for the 12 months to 31 March 2025 compared to £2.20 million for the 12 months to 31 March 2024. The principal areas of expenditure were publishing (£813k), education (£994k), membership (£500k) and BIR video courses (£62k).

During the challenging time of extremely high inflation, the team did well at reducing the planned deficit. The value of the investment portfolio significantly decreased during the year.

Reserves policy

The trustees recognise that they have a duty to balance the needs of current and future members, and have approved an approach to reserves that is aligned with the investment policy.

The Council considers the key sustainability measure for the Institute to be current and future liquidity cover rather than the surplus accounting position shown as unrestricted reserve. Its focus is on the balance of funds at the end of the year rather than the result for one particular accounting period. Accordingly the Council has decided that the Institute should maintain readily realisable assets sufficient to cover not less than six months of administrative and office costs. In keeping with this, the unrestricted reserves level is currently set at £920,000. The Institute currently has £4,463,924 of funds held in unrestricted, undesignated funds. These are a combination of investments and net current assets. The trustees have designated £650,000 of funds for investment in furthering imaging and oncology education and research through delivery of the BIR’s Strategy. Further funds will be designated to fulfilling the Institute’s charitable objects once the impact of this investment has been assessed. The analysis can be seen in Note 15a to the accounts.

The Council has decided that the fixed assets component of the unrestricted reserves should be moved to designated reserves to reflect the fact that this portion is not readily available to spend on a day-to-day basis.

Designated funds are unrestricted funds earmarked by the trustees to support the medium and longer term objects of the Institute. It may be used for and invested in ways that support the Institute’s longevity in the next five years.

Investment policy

The Institute’s investment policy seeks to maximise long-term total returns while maintaining a level of diversification and risk commensurate with the Institute’s liquidity needs and general investment outlook. The Council’s Finance and Investment Committee administers this function.

The charity’s ethical investment policy precludes investment in tobacco, armaments, alcohol, gambling and adult entertainment companies, or companies that generate more than 10% of revenue from any individual category listed above.

Fundraising policy

The British Institute of Radiology does not engage in public fundraising and does not use professional fundraisers or commercial participators. The Institute nevertheless observes and complies with the relevant fundraising regulations and codes. During the year there was no non-compliance of these regulations and codes and the Institute received no complaints relating to its fundraising practice.

Risk management

The trustees have assessed the principle risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity and its finances. Running risks is unavoidable. The trustees believe that, as far as it is possible, they have established effective systems and processes to manage those risks. Two of the most significant risks listed on the organisation’s risk register are:

6

The British Institute of Radiology Accounts for the period 1 April 2024 to 31 March 2025

The Council of the Institute is satisfied that there are no material uncertainties affecting the Institute’s ability to continue as a going concern. In case of unforeseen economic situations, even in the worst-case scenario reserves would be sufficient to cover any foreseeable deficit. The Council are therefore able to conclude that there is reasonable expectation that the Institute will remain going concern for at least 12 months from the signing of the accounts.

Remuneration policy

The Institute’s aim is to ensure that its levels of remuneration are in line with market rates, enabling it to attract, retain and motivate individuals with the qualifications, experience and skills needed to achieve the strategy and objectives of the Institute. During this year the Institute commissioned a thorough benchmarking exercise across all roles in the organisation to ensure compliance with the policy.

Volunteers

The Institute is very grateful to those of its members and the wider community who play an active role in governing the organisation and participating in its committee structure, developing education and teaching on courses, editing and reviewing journals and other published material, and generally contributing to the growth of membership benefits. Without them, we would not be able to achieve so much.

Statement of trustees’ responsibilities

The trustees are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on 17 September 2025 and signed on their behalf by

Dr N Screaton President

7

Independent auditor’s report to the trustees of The British Institute of Radiology

Opinion

We have audited the financial statements of The British Institute of Radiology (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on British Institute of Radiology’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

8

Independent auditor’s report to the trustees of The British Institute of Radiology

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

9

Independent auditor’s report to the trustees of The British Institute of Radiology

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity's trustees as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

20 October 2025

Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

10

British Institute of Radiology

Statement of financial activities

For the year ended 31 March 2025

Unrestricted
Note
£
Income from:
2
1,036,625
424,127
300,529
39,851
161,951
-
1,963,083
35,823
3
813,709
994,476
499,678
62,450
-
2,406,136
10
(140,444)
4
(583,497)
15a
5,726
(577,771)
Reconciliation of funds:
5,744,950
5,167,179
Total funds brought forward
Total funds carried forward
Transfers between funds
Net movement in funds
(443,053)
Raising funds
Net income / (expenditure)
Total expenditure
Net income / (expenditure) before net
gains / (losses) on investments
Charitable activities
Publishing
Education
Membership
Net (losses) /gains on investments
BIR video courses
Other
Investments
Other
Total income
Expenditure on:
Charitable activities
Publishing
Education
Membership
BIR video courses		 Unrestricted
Note
£
Income from:
2
1,036,625
424,127
300,529
39,851
161,951
-
1,963,083
35,823
3
813,709
994,476
499,678
62,450
-
2,406,136
10
(140,444)
4
(583,497)
15a
5,726
(577,771)
Reconciliation of funds:
5,744,950
5,167,179
Total funds brought forward
Total funds carried forward
Transfers between funds
Net movement in funds
(443,053)
Raising funds
Net income / (expenditure)
Total expenditure
Net income / (expenditure) before net
gains / (losses) on investments
Charitable activities
Publishing
Education
Membership
Net (losses) /gains on investments
BIR video courses
Other
Investments
Other
Total income
Expenditure on:
Charitable activities
Publishing
Education
Membership
BIR video courses		 Restricted
£
-
-
-
-
-
24,131		 2025
Total
£
1,036,625
424,127
300,529
39,851
161,951
24,131		 Unrestricted
£
888,459
599,312
314,798
26,566
160,441
-		 Restricted
£
-
-
-
-
-
7,600		 2024
Total
£
888,459
599,312
314,798
26,566
160,441
7,600
1,963,083 24,131 1,987,214 1,989,576 7,600 1,997,176
35,823
813,709
994,476
499,678
62,450
-		 -
-
-
-
-
6,951		 35,823
813,709
994,476
499,678
62,450
6,951		 33,170
656,634
1,024,457
381,405
102,761
-		 -
-
-
-
-
7,029		 33,170
656,634
1,024,457
381,405
102,761
7,029
2,406,136 6,951 2,413,087 2,198,427 7,029 2,205,456
(140,444)
(443,053)		 -
17,180		 (140,444)
(425,873)		 429,708
(208,851)		 -
571		 429,708
(208,280)
(583,497)
5,726		 17,180
(5,726)		 (566,317)
-		 220,857
5,825		 571
(5,825)		 221,428
-
(577,771)
5,744,950		 11,454
43,917		 (566,317)
5,788,867		 226,682
5,518,268		 (5,254)
49,171		 221,428
5,567,439
5,167,179 55,371 5,222,550 5,744,950 43,917 5,788,867

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.

11

British Institute of Radiology

Balance sheet

As at 31 March 2025

Note
£
Fixed assets:
9
10
Current assets:
11
433,416
409,407
842,823
Liabilities:
12
1,143,395
15
703,254
4,463,925
Total unrestricted funds
Unrestricted income funds:
Designated funds
General funds
Investments
Cash at bank and in hand
Tangible assets
Total charity funds
Debtors
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets / (liabilities)
Total net assets
Restricted income funds		 Note
£
Fixed assets:
9
10
Current assets:
11
433,416
409,407
842,823
Liabilities:
12
1,143,395
15
703,254
4,463,925
Total unrestricted funds
Unrestricted income funds:
Designated funds
General funds
Investments
Cash at bank and in hand
Tangible assets
Total charity funds
Debtors
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets / (liabilities)
Total net assets
Restricted income funds		 2025
£
53,254
5,469,868		 416,093
907,428		 2024
£
66,579
5,633,329
5,523,122
(300,572)		 5,699,908
88,959
842,823
1,143,395		 1,323,521
1,234,562
703,254
4,463,925		 716,579
5,028,371
5,222,550 5,788,867
55,371
5,167,179		 43,917
5,744,950
5,222,550 5,788,867

Approved by the trustees on 17 September 2025 and signed on their behalf by

Dr N Screaton President

12

British Institute of Radiology

Statement of cash flows

For the year ended 31 March 2025

Cash flows from operating activities
Net cash provided by / (used in) investing activities
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Proceeds from sale of investments
Purchase of investments
Cash movements within investment portfolio
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation charges
(Gains)/losses on investments
Dividends, interest and rent from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors		 £
£
£
£
(566,317)
221,428
18,918
19,581
140,444
(429,708)
(161,951)
(160,441)
(17,321)
85,528
(91,167)
(339,731)
(677,394)
(603,343)
161,951
160,441
(5,593)
(2,585)
1,317,594
885,974
(1,321,426)
(821,978)
26,848
(25,882)
179,374
195,970
(498,020)
(407,373)
907,428
1,314,801
409,408
907,428
2025
2024
161,951
(5,593)
1,317,594
(1,321,426)
26,848

13

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies

a) Statutory information

The British Institute of Radiology is incorporated by Royal Charter registered in England and Wales. The registered office address (and principal place of business) is Audrey House, 16-20 Ely Place, London EC1N 6SN.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Publishing journal subscription income is received in two payments, one at the beginning of the calendar year and the balance after the calendar year sales were confirmed. The income is recognised equally over the calendar year based in interim reports. Education delegate and sponsorship income is recognised in the month relevant to the date when the event is taken place. Individual and corporate membership income is recognised equally over the period of the membership.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other income received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charity in increase income through investment management.

14

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

h) Expenditure and irrecoverable VAT (continued)

˜Expenditure on charitable activities includes the costs of publications, education and delivering services to members undertaken to further the purposes of the charity and their associated support costs.

˜Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

▪ Publications 19.8%
▪ Education 45.5%
▪ Membership 31.4%
▪ BIR Video courses 3.3%

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

▪ Leasehold improvements 10 years
▪ Computer Equipment 3 years
▪ Website 10 years
▪ Online Platform BIR Video Courses 5 years
▪ CRM 5 years
▪ Logo 5 years
▪ Education LLP Platform 5 years

l) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

15

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

o) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting 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 normally recognised at their settlement amount after allowing for any trade discounts due.

p) Financial instruments

The charity only has financial assets and financial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

q) Pensions

The Institute contributes to a defined contribution Personal Pension Scheme for certain of its employees. Contributions are charged to the Statement of Financial Activities in the period to which they relate.

2 Income from charitable activities

Sub-total for Membership
Course approval scheme and other education income
Sub-total for Education
Individual subscriptions
Company subscriptions
Website income
Total income from charitable activities
Sub-total for BIR video courses
Secondary rights income
Sub-total for Publications
Scientific meetings including sponsorship
Video courses
Open Access
Books, advertising and other publishing income
Journal revenue
Royalties		 2025
Total
£
488,887
192,313
156,158
196,934
2,333		 2024
Total
£
501,531
279,693
86,443
11,655
9,137
1,036,625
424,127
-		 888,459
599,312
-
424,127
190,930
103,824
5,775		 599,312
191,149
114,135
9,514
300,529 314,798
39,851 26,567
39,851 26,567
1,801,132 1,829,136

All income from charitable activities was unrestricted in both 2025 and 2024.

16

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

3a Analysis of expenditure (current year)

Staff costs (Note 5)
Publishing Agent Commission
Publishing Online costs
Publishing Prepress costs
Publishing Royalties to DMFR
Publishing Editorial Costs
Publishing Courier & Postage
Education Venue costs
Education Speaker Travel
Rent and rates
IT services
CRM On-going Licence costs
Depreciation
Irrecoverable VAT
Other
Investment Manager fees
Support costs
Governance costs
Total expenditure 2025
Total expenditure 2024		 Cost of
raising funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
35,823		 Charitable activities Charitable activities Charitable activities Governance
costs
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Support
costs
£
368,056
-
-
-
-
-
-
-
-
125,162
52,464
43,542
13,907
24,898
90,859
-		 2025
Total
£
1,153,533
452,861
6,179
-
34,765
-
2,111
228,726
34,067
125,162
52,464
43,542
18,918
24,898
200,038
35,823		 2024
Total
£
1,165,443
128,553
65,618
23,940
22,288
20,504
14,153
258,194
31,555
97,755
41,716
41,385
19,581
22,145
219,456
33,170
Publishing
£
166,376
452,861
6,179
-
34,765
-
2,111
-
-
-
-
-
-
-
8,965
-		 Education
£
370,501
-
-
-
-
-
-
228,726
34,067
-
-
-
3,710
-
30,510
-		 Membership
£
226,317
-
-
-
-
-
-
-
-
-
-
-
-
-
47,629
-		 BIR video
courses
£
22,283
-
-
-
-
-
-
-
-
-
-
-
1,301
-
15,124
-		 Other
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,951
-
35,823
-
-		 671,257
142,452
-		 667,514
326,962
-		 273,946
225,732
-		 38,708
23,742
-		 6,951
-
-		 -
-
-		 718,888
(718,888)
-		 2,413,087
-
-		 2,205,456
-
-
35,823 813,709 994,476 499,678 62,450 6,951 - - 2,413,087 2,205,456
33,170 656,634 1,024,457 381,405 102,761 7,029 - -

Publishing other costs consist mostly of editorial costs, courier charges and subscription fees. Support other cost consist of insurance, telecomminication, payment processing fees and other charges related to running of the office.

17

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

3b Analysis of expenditure (previous year)

Charitable activities

Staff costs (Note 5)
Publishing Agent Commission
Publishing Online costs
Publishing Prepress costs
Publishing Royalties to DMFR
Publishing Editorial Costs
Publishing Courier & Postage
Education Venue costs
Education Speaker Travel
Rent and rates
IT services
CRM On-going Licence costs
Depreciation
Irrecoverable VAT
Other
Investment Manager fees
Support costs
Governance costs
Total expenditure 2024		 Cost of
raising funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
33,170		 Publishing
£
195,786
128,553
65,618
23,940
22,288
20,504
14,153
-
-
-
-
-
-
-
26,595
-		 Education
£
351,291
-
-
-
-
-
-
258,194
31,555
-
-
-
3,710
-
40,441
-		 Membership
£
192,429
-
-
-
-
-
-
-
-
-
-
-
-
-
41,099
-		 BIR video
courses
£
41,788
-
-
-
-
-
-
-
-
-
-
-
1,346
-
17,175
-		 Other
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,029
-		 Governance
costs
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14,330
-		 Support
costs
£
384,149
-
-
-
-
-
-
-
-
97,755
41,716
41,385
14,525
22,145
72,787
-		 2024
Total
£
1,165,443
128,553
65,618
23,940
22,288
20,504
14,153
258,194
31,555
97,755
41,716
41,385
19,581
22,145
219,456
33,170
33,170
-
-		 497,437
155,885
3,312		 685,191
332,208
7,058		 233,528
144,800
3,077		 60,309
41,569
883		 7,029
-
-		 14,330
-
(14,330)		 674,462
(674,462)
-		 2,205,456
-
-
33,170 656,634 1,024,457 381,405 102,761 7,029 - - 2,205,456

Publishing other costs consist mostly of editorial costs, courier charges and subscription fees. Support other cost consist of insurance, telecomminication, payment processing fees and other charges related to running of the office.

18

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

4 Net incoming resources for the year

This is stated after charging / crediting:

This is stated after charging / crediting:
2025 2024
£ £
Depreciation 18,917 19,581
Operating lease rentals:
Property 84,770 84,770
Auditor's remuneration (excluding VAT):
Audit 12,600 12,100
Other services - 1,060

5 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Salaries and wages
Other Staff Costs
Social security costs
Employer’s contribution to defined contribution pension schemes
Staff Training
Staff Recruitment
Group Life		 2025
2024
£
£
929,610
912,014
101,866
92,004
56,846
62,617
7,555
4,915
38,302
46,628
13,626
23,950
5,728
23,315
1,153,533
1,165,443

The following number of employees received employee benefits (excluding employer NI and pension costs) during the year between:

year between:
2025 2024
No. No.
£100,000 - £109,999 1 1
£90,000 - £99,999 1 -
£80,000 - £89,999 - -
£70,000 - £79,999 1 -
£60,000 - £69,999 2 2

The total employee benefits including National Insurance and pension contributions of the key management personnel were £553,653 (2024: £538,563).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

19

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

6 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Education
Support & Governance
Video courses
Publishing
Membership		 2025
2024
No.
No.
3.0
3.8
7.0
8.3
5.0
3.7
1.0
1.0
4.0
3.8
20.0
20.6

7 Related party transactions

Related party transactions to disclose for 2025 totalling £7,357 (2024: £2,651 incurred by 8 (2024: 6) trustees.

Trustees' expenses represent the payment or reimbursement of travel and subsistence costs for attending the meetings of the trustees totalling £1,060 (2024: £110) incurred by 7 (2024: 2) member and attending BIR's education events totalling £6,297 (2024: £2,541) incurred by 6 (2024: 4) trustees. All expenses were at market rates.

8 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

20

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

9 Tangible fixed assets

Tangible fixed assets
Depreciation
At the start of the year
Charge for the year
At the end of the year
Cost
At the start of the year
Additions in year
At the end of the year
Disposals
Disposals
Net book value
At the end of the year
At the start of the year		 Leasehold
premises
£
46,055
-
-		 Computer
Equipment
£
16,805
-
-		 Website
£
10,139
1,914
-		 Online
Platform BIR
Video
Courses
£
4,031
-
-		 CRM
£
14,113
3,679
-		 Logo
£
1,288
-
-		 Education
LLP Platform
£
18,548
-
-		 Total
£
110,979
5,593
-
46,055 16,805 12,053 4,031 17,792 1,288 18,548 116,572
6,100
4,606
-		 9,258
5,042
-		 8,102
1,394
-		 2,620
806
-		 8,427
3,145
-		 -
215
-		 9,893
3,710
-		 44,400
18,918
-
10,706 14,300 9,496 3,426 11,572 215 13,603 63,318
35,349 2,505 2,557 605 6,220 1,073 4,945 53,254
39,955 7,547 2,037 1,411 5,686 1,288 8,655 66,579

All of the above assets are used for charitable purposes.

21

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

10 Listed investments

Listed investments
Cash held by investment broker pending reinvestment
Creditors: amounts falling due within one year
Debtors
Prepayments
Accrued income
Debtors
Property
Cash
Fair value at the end of the year
Historic cost at the end of the year
Investments comprise:
Shares listed on the London Stock Exchange
Disposal proceeds
Net (loss) / gain on change in fair value
Fair value at the start of the year
Additions at cost
Other creditors
Accruals
VAT
PAYE, NIC and student loan deductions
Pension contributions
Deferred income		 2025
£
5,560,379
1,321,426
(1,317,594)
(140,444)		 2024
£
5,194,667
821,978
(885,974)
429,708
5,423,767
46,102		 5,560,379
72,950
5,469,869 5,633,329
4,949,366 5,082,295
2025
£
5,169,930
253,837
46,102		 2024
£
5,307,478
252,901
72,950
5,469,869 5,633,329
2025
£
92,706
48,856
291,854		 2024
£
288,839
61,466
65,788
433,416 416,093
2025
£
882,298
81,893
47,302
81,662
41,269
8,971		 2024
£
808,139
139,955
139,338
112,779
26,475
7,876
1,143,395 1,234,562

11 Debtors

12 Creditors: amounts falling due within one year

22

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

13 Deferred income

Deferred income comprises of journal subscriptions, individual and corporate membership fees, event income and advertising income received in advance.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2025
£
808,139
(905,777)
979,936		 2024
£
1,036,317
(747,031)
518,853
882,298 808,139

14a Analysis of net assets between funds (current year)

Tangible fixed assets
Investments
Net assets at the end of the year
Net Current Assets		 General
unrestricted
£
-
4,819,869
(355,944)		 £
53,254
650,000
-
Designated		 Restricted
£
-
-
55,371		 Total funds
£
53,254
5,469,869
(300,573)
4,463,925 703,254 55,371 5,222,550

14b Analysis of net assets between funds (prior year)

Tangible fixed assets
Investments
Net assets at the end of the year
Net Current Assets		 General
unrestricted
£
-
4,983,329
45,042		 £
66,579
650,000
-
Designated		 Restricted
£
43,917		 Total funds
£
66,579
5,633,329
88,959
5,028,371 716,579 43,917 5,788,867

23

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

15a Movements in funds (current year)

Total restricted funds
Total designated funds
General funds
DeepHealth BIR Mayneord Lecture and Award 2024
Restricted funds:
Barclay Medal Award 2023 (Rothband)
Gray Board Cancer Research (Nic Mcnally)
Sir Godfrey Hounsfield Lecture Fund
History project supported by MRRA (UK) Funds
MRRA (UK) Prize fund (Balance)
Make it Better Award 2025-26
General Pump Priming Fund
Make it Better Award 2024 (Year 3 of 3) (Bayer)
GE - BIR Radiation Safety Award 2024
BIR Early Career Investigator award
Radiological Research Trust
AI Fellowship sponsorship 2024
Unrestricted funds:
Designated funds:
Fixed Assets
Strategic Objectives
Total unrestricted funds
Total funds		 At 1 April
2024
£
200
3,614
4,616
6,805
14,572
12,110
2,000
-
-
-
-
-
-		 Income &
gains
£
600
-
-
-
-
-
-
-
2,000
12,931
1,600
2,000
5,000		 Expenditure
& losses
£
(657)
(750)
(1,000)
(500)
-
(1,683)
-
(250)
-
-
-
(1,064)
(1,047)		 Transfers
£
(143)
-
-
-
-
(250)
-
250
-
-
(1,600)
(30)
(3,953)		 At 31 March
2025
£
-
2,864
3,616
6,305
14,572
10,177
2,000
-
2,000
12,931
-
906
-
43,917 24,131 (6,951) (5,726) 55,371
66,579
650,000		 -
-		 (18,918)
-		 5,593
-		 53,254
650,000
716,579 - (18,918) 5,593 703,254
5,028,371 1,963,083 (2,527,662) 133 4,463,925
5,744,950 1,963,083 (2,546,580) 5,726 5,167,179
5,788,867 1,987,214 (2,553,531) - 5,222,550

24

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

15b Movements in funds (prior year)

Total restricted funds
Total designated funds
General funds
Restricted funds:
Aidence BIR Mayneord Lecture and Award 2022
Unrestricted funds:
Designated funds:
Fixed Assets
Strategic Objectives
Barclay Medal Award 2023 (Rothband)
Gray Board Cancer Research (Nic Mcnally)
Sir Godfrey Hounsfield Lecture Fund
History project supported by MRRA (UK) Funds
MRRA (UK) Prize fund (Balance)
General Pump Priming Fund
BIR Early Career Investigator award (Jusha)
GE - BIR Radiation Safety Award 2023
GE - BIR Radiation Safety Award 2024
BIR/Siemens Research Award 2022-23
Make it Better Award 2023 (Year 2 of 3) (Bayer)
Total unrestricted funds
Total funds		 At 1 April
2023
£
-
4,364
5,616
7,305
14,572
12,361
-
1,953
2,000
1,000
-
-		 Income &
gains
£
600
-
-
-
-
-
-
-
-
-
2,000
5,000		 Expenditure
& losses
£
(400)
(750)
(1,000)
(500)
-
(1)
(250)
(1,000)
-
(1,000)
(1,079)
(1,049)		 Transfers
£
-
-
-
-
-
(250)
250
(953)
-
-
(921)
(3,951)		 At 31 March
2024
£
200
3,614
4,616
6,805
14,572
12,110
-
-
2,000
-
-
-
49,171 7,600 (7,029) (5,825) 43,917
83,575
650,000		 -
-		 (19,581)
-		 2,585
-		 66,579
650,000
733,575 - (19,581) 2,585 716,579
4,784,692 2,419,285 (2,178,846) 3,240 5,028,371
5,518,267 2,419,285 (2,198,427) 5,825 5,744,950
5,567,438 2,426,885 (2,205,456) - 5,788,867

Purposes of restricted funds

Awards, prize funds and fellowships

The BIR offers a number of awards and prizes each year, which are externally funded by generous individuals, companies and grant-making trusts.

MRRA (UK) Funds

£10,000 of this donation (from a charity that was wound up) is to be used towards the pump-priming of a radiology history website with the balance ring-fenced to support an annual BIR prize of £500 for the BIR New Technologies Prize.

During the year there have been transfers between restricted funds where the awards requirements were fulfilled.

25

British Institute of Radiology

Notes to the financial statements

For the year ended 31 March 2025

15 Movements in funds (continued)

Purposes of designated funds

Designated funds are unrestricted funds earmarked by the trustees to support the medium and longer term objects of the Institute. It may be used for and invested in ways that support the Institute’s longevity in the next five years.

16 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

Less than 1 year
1 - 5 Years
Over 5 years		 2025
2024
£
£
102,752
102,752
316,819
376,757
248,317
299,693
667,888
779,202
Property		 2025
2024
£
£
102,752
102,752
316,819
376,757
248,317
299,693
667,888
779,202
Property
667,888 779,202

17 Joint venture

The BIR, together with The Society and College of Radiographers (SCoR) and The Institute of Physics and Engineering in Medicine (IPEM), is a Member of Radiology and Oncology Congresses (ROC), a charity registered in England and Wales no: 1087939.

The latest results of the ROC Group of companies are shown below:

For the year to 30th September
Total Income
Total Expenditure
As at 30th September
Surplus for Year
Fixed Assets
Current Assets
Creditors
Net Assets		 2024
£
919,536
(888,975)		 2023
£
914,200
(820,732)
30,561 93,468
-
726,937
(83,761)		 -
720,836
(108,221)
643,176 612,615

The British Institute of Radiology has no legal entitlement to any share of the net assets of ROC and therefore the results of ROC are shown separately.

26