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2020-12-31-accounts

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Charity number: 258474

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONTENTS

Page
Reference and administrative details 1
Report of the trustees 2 – 18
Independent auditor’s report 19 – 21
Consolidated statement of financial activities 22
Consolidated and charity balance sheets 23
Consolidated statement of cash flows 24
Notes to the consolidated financial statements 25 - 42

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees
Senior Leadership
Team
Principal Office
Bankers
Investment
Advisors
Solicitor
Independent
Auditor		 President in the Chair (7/20-7/22)
Immediate Past President (7/20-7/21)
Academic Vice President (7/19-7/21)
Clinical Vice President (7/20-7/22)
Honorary Treasurer (7/19-7/22)
Honorary Secretary (7/19-7/21)
Asst Honorary Secretary (7/19-7/21)
Editor BJD (7/19-7/24)
North East Representative (7/20-7/23)
Yorkshire & the Humber Representative (7/19-7/22)
North West Representative (7/18-7/21)
East Midlands Representative (7/19-7/22)
West Midlands Representative (7/19-7/22)
East of England Representative (7/19-7/22)
Thames Valley and Wessex Representative (7/19-7/22)
North London Representative (7/19-7/22)
South London Representative (7/20-7/23)
South East Coast Representative (7/20-7/23)
South West Representative (7/19-7/22)
N Ireland / Republic of Ireland Representative (7/18-7/21)
Scotland Representative (7/19-7/21)
Wales Representative (7/18-7/21)
Trainee Representative (7/19-7/21)
Dr Tanya Bleiker
Dr Ruth Murphy
Dr George Millington
Dr Piu Banerjee
Professor Anthony Bewley
Dr Tabi Leslie
Dr Bryan McDonald
Dr John Ingram
Dr Maneesha Vatve
Dr Victoria Goulden
Dr John Newsham
Dr Rangarajan
Rabindranathnambi
Dr Paul Gazzani
Dr Julia Gass
Dr Rubeta Matin
Dr Gabriela Petrof
Dr Shamali Hoque
Dr Pallavi Gupta
Dr Jane Sansom
Dr Olivia Dolan
Professor Colin Fleming
Dr Colin Long
Dr Ruchika Kumari
Simon Morrison – Chief Executive Officer
Nina Goad – Deputy Chief Executive Officer
Catherine Hanaway – Director of Finance
Tania Von Hospenthal – Director of Clinical Services
M Firouz Mohd Mustapa – Director of Clinical Standards
Christopher Garrett – Director of Conference and Events
Shehnaz Ahmed – Director of Research and Publishing
Matt Gass – Director of Communications
Member of SLT since 25
January 2021
Willan House
4 Fitzroy Square
London
W1T 5HQ
Lloyds TSB Bank plc
Eastern Branch
35 Whitechapel High Street
London
E1 7PH
Rathbone Brothers Plc
8 Finsbury Circus
London
EC2M 7AZ
Mills & Reeve LLP
Botanic House
100 Hills Road
Cambridge
CB2 1PH
RSM UK Audit LLP, Statutory Auditor
Chartered Accountants
Davidson House
Forbury Square
Reading
Berkshire, RG1 3EU

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

The trustees of the British Association of Dermatologists (BAD) present their report and audited financial statements for the year ended 31 December 2020.

The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “ Accounting and Reporting by Charities ” (FRS 102) in preparing the annual report and financial statements of the charity.

Objectives and Activities for the Public Benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

The association’s objectives are to promote for the public benefit the knowledge, practice, and teaching of Dermatology. All of our activities relate to the development of knowledge and improvement in patient care but for many years the public have had difficulty accessing dermatology services because of lack of NHS funding and a Department of Health (DH) restriction on the number of consultants that can be trained. Therefore, a major part of our work is to expand the knowledge base of other healthcare professionals and to develop best practice so that everyone has access to appropriate dermatology care. We have organised our staffing and committee structures to deliver in the following areas:

Clinical Services

The BAD continues to work in a variety of ways to try to ensure that patients with skin disease have appropriate access to care and are not disadvantaged because of geographical location or any other factor. The continued changes to the National Health Service through ongoing government directives continue to create fractured patient pathways for some patients requiring direct access to secondary care.

The Clinical Services Unit (CSU), under the guidance of the Clinical Vice President, has produced a range of initiatives to help inform national stakeholders on best practice for dermatology. These include NICE Accredited service standards for clinical interventions which are expected to be met by all NHS Dermatology Providers. The team also works directly with Integrated Care Services (formerly clinical commissioning groups) and NHS Trusts to redesign local services safely and provide expert challenge when this is necessary (i.e., service reconfigurations).

A process has been developed for data analysis review service for Trusts to help clinicians redesign their referral pathways, clinic templates and waiting lists management. The CSU also undertakes case note reviews and onsite service reviews for Trusts in difficulty.

The BAD continues to provide support to dermatology departments across the UK facing threats to service delivery as commissioners and Strategic Transformation Programmes seek to move more dermatology into the community. An important element of this work has been the interaction with these groups and NHS England Transformation teams to inform on the evidence being considered and the decision-making processes used. The CSU continues to scope and develop resources which support the uniform delivery of dermatology services. The practice of Dermatology and the delivery of high-quality patient care remains one of our primary objectives.

A major part of the work of the Association over the past year has been the support of dermatology service delivery in the NHS via the Clinical Services Unit and its Clinical Services and Cancer Services Sub-committee. During 2020, COVID has caused a number of problems with services, and we have given advice on reducing capacities in departments, helped produce a series of guidelines on working during COVID, restarting services and managing patients during this period.

We have continued to provide help for departments, with issues arising from reduced facilities and general erasure of services during COVID. We have also worked extensively with the NHS Transformation Outpatient programme to produce guidance for dermatology. We are beginning to work with Integrated Care Services to provide advice and challenge on service redesign coming from these groups and regional areas. A number of departments have sought help over problems with the workforce, poor commissioning, coding and problems with the independent sector-NHS interface and issues between colleagues over these matters. Support can range from letters addressing governance issues to extensive work in advising on the restructuring of whole services.

In addition, we are working with Commissioners to help resolve contractual issues with independent providers of dermatology services to identify areas of improvement.

We are in the process of setting up a Dermatology National Audit Registry working with NHS Digital and the phototherapy and cutaneous allergy specialty groups to design a database to collect clinical and service information from hospital trusts.

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REPORT OF THE TRUSTEES

Due to the number of AI apps being used in the NHS during COVID, we have set up an AI working party group and are working with the MHRA, NHS Digital, the AI lab and various stakeholders on this. We have produced an AI statement regarding AI’s current use within the NHS, we will continue to clarify AI’s current role in the NHS whilst putting in plans for an AI collaboration to develop AI machine learning in the NHS within England and the devolved nations.

We have seen exponential uptake of Teledermatology during COVID and have been involved in various guideline webinars and working with the NHS England Improvement A&G team and the Teledermatology Sub-Committee to respond to members queries and to support Teledermatology development across our Trusts.

Education and Training

The Academic Vice President oversees education and research activities which are focused on improving the quality of dermatology training and providing an environment in which research into skin disease can flourish. The BAD’s Research Committee has introduced a number of initiatives to encourage collaborative translational research between dermatology, other disciplines, and the pharma community with the aim of delivering benefit directly to patients. Activity has taken place to encourage medical students to consider dermatology as a career by the provision of meetings and educational resources. The research and publishing department in liaison with the Education Board has developed and delivered a workshop on peer review.

The BAD has established an Education Board, led by a Director of Education, to provide dermatology training to other doctors and healthcare professionals so that they can contribute to service delivery as part of a multidisciplinary team. Working collaboratively with leadership bodies such as the Faculty of Physician Associates and the British Dermatology Nursing Group the Education Board has developed curricula and learning resources to widen the knowledge of dermatology and increase the workforce.

The BAD Education Board in conjunction with the Royal College of General Practitioners (RCGP) has developed a curriculum to accredit GPs with an Extended Role (GPwER) as another way of promoting quality in the patient pathway. With the movement to online consultations, the Education Board has been at the forefront with developing and supporting education for the digital age by supporting 5 Topol Fellows working in dermatology with Health Education England (HEE) and NHSX as well as leading on a digital dermatology workstream.

The Education Sub-committee has completed work on the new Dermatology curriculum including new disease areas and preparing for the inclusion of Competencies in Practice (CIP) which are to become mandatory. The new curriculum has been accepted by the GMC and will be implemented from August 2021. The committee has also been extremely active delivering the specialty updates for STC Chairs, TPDs, Clinical Tutors and Trainers via an annual workshop. This work is on behalf of the Dermatology SAC of the JRCPTB. Dermatology continues to be an extremely popular specialty and the Association provides learning opportunities via DermSchool, and many resources such as the e-Learning for health resource, the Student Handbook and App, which have been updated to reflect current dermatology practice, diversity, and inclusion as well as practical support to the many DermSocs which have formed throughout the UK. The student handbook continues to be popular year on year with 8,843 hard copies distributed in 2019 and 3,436 in 2020.

The principal reason for establishing the Education Board was to increase the training and education delivered to all those who work in dermatology with a form of accreditation that would enable employers to build quality services. The Education Board and Director of Education, working under the guidance of the Academic Vice President, have established several work streams developing and delivering educational resources for SAS doctors, CESR applicants and undergraduates. There have been several workshops delivered for CESR applicants and FY doctors. They have established collaborations with the RCGP, PCDS and BDNG and are working with several Royal Colleges to improve the dermatology content of the curricula in those specialties. 2020-2021 saw the publication of an updated undergraduate dermatology curriculum and dermatology nursing role descriptors. The Education Board have forged collaborative links with the BAD CED journal by publishing the undergraduate dermatology curriculum.

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Promotion of research and knowledge

The BAD’s Conference Unit continues to provide high quality services for external meetings and organises the organisation’s annual conference. During 2020 it continued to support the clinical service, education, and research units by facilitating courses and meetings on skin disease at Willan House, the BAD’s headquarters, as well as organising national and international income generating meetings.

The promotion of research and improvement in clinical care are fundamental to the objects of the Association and these developments are disseminated in the Association’s journals that have wide readership both nationally and internationally. Skin disease research is vital to continued dermatological healthcare improvement and the BAD has donated over £7m to the British Skin Foundation (BSF) grant giving process for skin disease since the organisation was founded in 1996.

The BAD Research Sub-committee has continued the role of ensuring that trainees have access to high-quality research training with a view to “future-proofing” the specialty in relation to one of the core principles of the NHS constitution (2012), namely “the commitment to the promotion and conduct of research to improve the current and future health and care of the population”. There is recognition that some trainees can find it difficult to gain exposure to laboratory-based research and has established an annual Research Techniques course for them to gain an understanding of, as well as getting some hands-on skills in, laboratory techniques and is also putting in place a system for research-active trainees in each region to provide guidance to juniors.

BAD UK TREND conducted a E-Delphi review to identify the key priority areas for skin and then held very successful open meetings to discuss the interest and potential in establishing networks to advance and promote translational research into eczema and non-melanoma skin cancer, resulting in a number of collaborations being formed.

ASTAR In the field of eczema, the BAD has supported the setting up of a registry project similar to BAD BRL. The first three set up year costs were paid for through the BSF grant. BAD A*Star will work with industry to provide safety and efficacy information on the use of biologic therapies in eczema; Eli Lilly is one of the first to join and there are on-going conversations with Leo Pharma who are keen to join. ASTAR has also been successful in acquiring an investigator-led grant.

The UK Keratinocyte Cancer Collaborative ( UKKCC) has been established by the BAD to bring together epidemiologists, clinicians and dermato-pathologists working in the field of keratinocyte cancer to create a collaborative network for clinical epidemiology, tissue banking and molecular pathology initiatives to improve the KC patient outcomes and stratification of risk of progression. The project proposal has now been signed off by the Officers and the next steps around governance needs to be sorted.

BADGEM’s three main work streams of informatics, diagnostic signposting and clinical trials are actively progressing and a successful clinical session was held at the 2020 BAD Annual Meeting.

UKTREND also organised a successful clinical session at the 2020 BAD Annual meeting.

BAD Biologics Intervention Register

The Association has established a biologics registry for psoriasis which follows a large cohort of patients treated with biological agents so that their long-term safety can be monitored. The Register is owned and operated by a not-for-profit company limited by guarantee registered under the Companies Acts: British Association of Dermatologists Biologics Register Limited, Company No. 6434034 (BADBRL). BADBRL effectively operates as a subsidiary of BAD and its two Members hold their Membership on trust for BAD. BADBRL, and the Register it owns and operates, are therefore ultimately assets of BAD. The Register as such, and the intellectual property rights arising in the data generated, belongs to the Association. BADBRL has entered into contracts with pharmaceutical companies to provide them with safety data monitoring and observational data resulting from the register. The payments provided for these services fund the register. Companies pay for a pharmacovigilance service for each patient receiving their drug at recruitment and follow-up during the life of the register. In addition, they pay a proportion of the overhead costs. To ensure that the funds are in place to follow up all patients as long as the register is in existence all payments by the companies are made in advance. All payments are attached to patient numbers and a record is maintained of all payments made. This is reconciled each year for each company so that when their contract ends or when the register is closed all funds will be apportioned and repaid to the companies. This is shown in the long-term creditors in the accounts.

The BAD has established a web-based programme of Good Clinical Practice training for staff to meet one of the requirements of participating trusts.

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REPORT OF THE TRUSTEES

The register continues to work closely with the participating research centres through register initiation and set-up and assist with the registration of initial patients. Advice and guidance are provided to help boost recruitment and ensure good quality data is being collected from all hospitals. In addition, the BADBIR study team are fully engaged with improving data quality of the information collected via a source data verification programme.

The company was incorporated on 22 November 2007 and began operating on 25 March 2008.

The focus of the BAD efforts during 2020 has been to continue to increase the numbers of patients registered and to assist departments that encountered problems with set up because of the complex R&D and governance requirements of Trusts. In 2020, the register had 11 participating pharmaceutical companies, but 16 drugs enrolled: 8 biologics, 6 biosimilars and 2 small molecules. Janssen has decided not to extend their contract for Stelara, which ends July 2021 and instead concentrate on their other drug: tremfya. The research and publication strategy for the project has been produced and in 2020, Six scientific manuscripts abstract were published in internationally recognised journals in 2020. This is an ongoing work and BADBIR has proposed Clinical Research Fellows from pharma to support this work.

Setting Standards

The Clinical Standards Unit manages the production of high-quality clinical guidelines published in the British Journal of Dermatology (BJD) to improve patient care, the process for which attained NICE Accreditation status in 2010 with the Association being one of the first few organisations to be certified. This status was renewed in 2016 following the BAD’s adoption of the more rigorous, international gold-standard GRADE methodology and results of the 5-yearly scheduled renewal are currently awaited. BAD clinical guidelines often appear in year-end top 20 lists of the most accessed BJD articles and are cited frequently, contributing to the journal’s impact factor and international standing. The guidelines are also featured in policy documents nationally and regionally and aid in improving the delivery of health care based on the best available evidence.

The unit also has a portfolio of over two hundred patient information leaflets (PILs) hosted on the BAD website, which are the most accessed pages and have proved to be invaluable to members of the public, particularly when they are first diagnosed with a skin condition. The BAD has been committed to producing PILs for many years. From the outset this activity has been fundamental to the fulfilment of the charitable objects of the Association for patient benefit. The Association was awarded the Information Standard certification from NHS England for seven consecutive years, for the process it employs to produce PILs. The Information Standard was established to certify the provision of high quality, clear, accurate, balanced, and trustworthy information as an essential component of effective health and care; however, this certification scheme ceased in July 2019, but the certified process continues to be followed. The unit will be reviewing a replacement certification scheme, the Patient Information Forum’s PIF TICK,

The authorship of guidelines and PILs is by the Members of the Association who give their time and expertise on a voluntary basis, and the Association now employs professional members of staff (guideline research fellows, an information scientist, and a project manager) to carry out all technical work associated with guideline development (e.g., reading and critically appraising papers; data extraction & syntheses, and summarising of evidence), essentially adopting the NICE model. The unit also manages the Association’s national clinical audit programme with ten national audits completed since 2012 with multiple audit reports having been published. A new National Audit sub-committee is being formed, following the disbanding of the Health Informatics sub-committee, to spearhead the BAD’s national clinical and service audit programmes in collaboration with the Clinical Services Unit.

The Clinical Standards Unit and Therapy & Guidelines Sub-committee have had a very productive year following expansion of the unit in 2018; two guidelines have been officially published in the BJD by July 2021, another four have been either accepted or provisionally accepted for publication, two are almost ready for official sign-off ahead of submission to the BJD, and three are at advanced stages of production. The BJD reported that 11 BAD clinical guidelines appeared in the journal’s top 30 most accessed articles of 2020, three of which occupied the top 10, and a further four in the top 20.

A total of 40 new and updated PILs have been uploaded on the BAD website over the past 12 months.

A total of 7 official responses to relevant NICE technology and guideline appraisals have been submitted.

Work is ongoing with the BNF and BNFC to keep the skin chapter updated and the committee responds regularly to enquiries from the membership, health-related institutions, industry, and the general public.

Liaison with the MHRA continues on matters relating to retinoids and fire hazards of emollients

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The Communications Team has generated widespread coverage on a range of topics, including research published in the BJD on the skin manifestations of COVID. The Skin Cancer Prevention committee has guided the work on the BAD’s major skin cancer education initiatives including Sun Awareness Week, which this year were online-only.

Disseminating knowledge

Much of the work of the Communications Team over the last 12 months has been linked to COVID-19 communications, including promoting research, providing information to journalists, patient information, and support to members.

In addition to work around COVID, in the 2020 the team played an important role in supporting the Association’s work around diversity and inclusion, developed new platforms for the BAD’s communications work, and laid the groundwork for digital transformation in 2021.

In January, the team supported the publication of ‘Delivering care and training a sustainable multi-specialty and multi-professional workforce’ , a report that benchmarks current dermatology services against 16 principles of outpatient care outlined by the Royal College of Physicians (RCP). The project also provides case studies exemplifying innovations or improvements in outpatient care.

Working with the Patient Engagement workstream, the BAD has sought to increase the profile of the association’s public-facing work. The team also worked with the Patient Engagement workstream on a survey for early 2021 to better understand patient experiences of dermatology services during the pandemic, with a particular focus on their experiences of remote consultations.

Promoting the association’s journals, particularly research focused on COVID-19, has been a priority of the last 12 months, with a view to sharing information on the dermatological aspects of COVID. In April, we sent out a press release , ‘Five common skin manifestations of COVID-19 identified’ , regarding a study in the BJD (‘Classification of the cutaneous manifestations of COVID-19: a rapid prospective nationwide consensus study in Spain with 375 cases’). This press release was viewed by 174,696 users on the BAD’s Patient Hub in 2020 and resulted in hundreds of news articles across the UK and internationally.

In September, on the back of research published in the BJD, the communications team worked with researchers to rapidly publish hundreds of images of COVID skin manifestations online for educational purposes on a microsite - https://covidskinsigns.com/. In 2020, this website received around 250,000 page views.

Due to COVID, this year’s Sun Awareness Week was an online-only campaign, focusing on sun awareness during lockdown. The social media campaign resulted in a combined reach of almost 100,000 during the week. Our social media posts during Sun Awareness Week covered a range of sun protection and vitamin D topics relevant to the COVID-19 lockdown. These included BAD tips on spending time in the sun safely during lockdown, addressing concerns over vitamin D levels and advice for those ordering sun protection products online.

The Association is also working to make dermatological research findings more accessible to the public. A new Plain Language Summary page the BAD Patient Hub website has been developed to host the BJD plain language research summaries. These are searchable by topic or publication date, and link directly to the relevant part of the BJD website. The new page is intended drive a further increase in the readership of the BJD plain language research summaries by increasing awareness amongst patients who may otherwise not be aware that the BJD produces these summaries.

The communications team has also supported the work of the All-Party Parliamentary Group on Skin (APPGS), providing media support for the launch of the APPGS report on Mental Health and Skin Disease.

The pandemic has highlighted more than ever, the important of digital platforms. The communications team has done a lot of work in this department, launching a new podcast called ‘Dermatologically Tested’, aimed at covering a wide range of dermatology topics. The primary audience of the podcast is the general public, but we have also received excellent feedback from clinicians. Downloads of the podcast in 2020 totalled 8,500. It can be found on all major podcast platforms including Spotify, Apple Podcasts, and Google Podcasts.

Other digital platforms developed include social media accounts for the podcast on Twitter and Instagram, and new Facebook, Instagram, and Twitter accounts aimed specifically at clinicians.

A wider digital transformation is planned for 2021, with the groundwork being laid for a significant overhaul of the BAD’s main website – www.bad.org.uk.

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In response to the Covid-19 pandemic the President, Officers and Senior staff members have worked together to issue advice and guidance for health care professionals and collate information from a number of sources. This is sent to members via regular email alerts and available on the BAD website as well as advice issued by the BAD, and will be updated regularly as the situation evolves.

Access to treatment

A matter of grave concern to the BAD is the problems many patients are facing when trying to access special order (unlicensed) dermatology drugs, termed ‘specials’. A dedicated Access to Medicines Working Group (previously Specials Working Group) had been meeting with DH Officials and Parliamentarians to raise the issue of Government policy that allows specials prescribed by GPs to cost up to 17 times more than the same drugs prescribed in hospitals, needlessly wasting the NHS millions of pounds each year, and causing many CCGs to restrict access to treatments. The working group has escalated its lobbying to the House of Lords, Public Accounts Committee, and the National Audit Office, following media exposure in The Times which was picked up by many other media outlets. It will continue to press this important issue of access to treatment, to also cover generics and supply shortages, by working with other specialties and patient groups.

The Association maintains a close relationship with the many individual disease specific charities that provide direct and practical support to patients and their families and holds regular meetings of the Patient Support Groups as an opportunity to share and learn. In addition to the financial support to these groups receive via the Patient Support Group Fund the BAD has established study days to share expertise and information about fundraising, charity law and other related matters.

Grant-making Policy

The Association is not a grant making body.

The BAD has a number of fellowships to enable Members to spend a period of time in study and/or research or to attend international meetings. The fellowships are advertised in the BAD Newsletter, Handbook and website. The Association also awards a number of undergraduate fellowships which are advertised in medical schools. The Fellowship Committee meets two times a year to judge applications and make the awards.

The Association makes annual donations to a number of affiliated special interest groups upon application.

Upon application the Association makes donations to assist the work of other bodies working for patients or to support research in Dermatology. These donations are decided by the Executive.

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Strategic report

Governance

Code of Conduct for BAD Members and Committees was approved by the 2020 AGM and it is now a requirement of membership that all Members adhere to the code.

Sustainability

Following discussion at the 2020 AGM a Working Party has been established to develop a sustainability strategy both for the BAD as an organisation and for Dermatology as a specialty.

A first sustainable dermatology workshop took place in February and since then the BAD has implemented a plan for integration of sustainability into its activities and the profession of dermatology as a whole. Next steps include the setting up a network for sustainable dermatology to engage more members to post and answer questions, sharing resources and prioritising areas for research and action. To keep the profile of sustainability high on the agenda, the BAD will be introducing a Green Prize initiative to request ideas from members about how to improve sustainability within dermatology departments. Members will be able to vote online for their favourite idea which will be announced at the annual meeting with the idea being adopted, publicised, and championed by the BAD to measure how much progress has been made over the course of the following year.

The BAD continues to serve its Membership in the following ways:

BAD Publishing activity Journal publishing

Despite COVID, both BJD and CED have done well financially and editorially. Table 1 and table 2 show the breakdown for both BJD and CED. Despite a ~20% decline in reprints income, BJD managed to do well in this area. While BJD has managed to hold onto it’s print advertising, CED has lost significant amounts.

Some of the income lines from advertising and reprints have struggled due to lack of physical conferences. Savings were made due to lack of any physical conferences.

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

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Table 1: Financial performance for BJD

2017 2018 2019 Final 2020 final
£ £ £ £
Total Income 2,845,428 2,970,512 3,094,622 2,910,742
Total Costs 778,038 747,207 766,704 626,713
Profit to be Shared 2,093,327 2,293,068 2,399,854 2,284,323
Return to the BAD 1,465,329 1,709,573 1,769,855 1,736,086

Table 2: Financial performance for CED

2017 2018 2019 Budget 2019 Final 2020
£ £ £ £ £
Total Income 632,796 632,240 618,022 650,774 636,077
Total Costs 174,276 218,029 237,078 216,84 216,332
Profit to be Shared 458,520 426,211 426,944 444,680 423,520
Return to the BAD 320,964 311,920 313,477 328,874 321,875

Wiley has signed some major country-wide deals to publish ‘Read and Publish’ Deals with the first one with Germany (Project Deal), Austria, Hungary, Sweden, the Netherlands, Jisc for the UK (including 138 institutions), Finland, Ireland, Spanish and Swiss. Wiley also has a few Read and Publish deals in the USA through the Bill and Melinda Gates Foundation, Iowa University and John Hopkins University. These deals apportion some amount of money to the read aspect, i.e., access to the journal articles, and rest to the publish portion and the researchers costs to publish OA are automatically covered.

Other highlights for BJD and CED include:

From January to November 2020, CED had 324,013 full text downloads compared to 232,304 in 2019 for the same time period. In 2019, CED had 258,537 full text downloads.

Production timelines for both journals have improved substantially. The average time from receipt for BJD at Wiley to early view (typeset but not yet assigned to an issue) publication was 52 days in 2020 compared to 74 days in 2019. It was

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SHD

Skin Health and Disease is the BAD’s newest open access only journal published by Wiley with George Millington as the Editor in Chief and Ewan Langan as the Deputy Editor. The journal has done extremely well with over 100 submissions and the first issue was published in March this year, with the second issue published in June. As this was a fairly new launch, the accounts for 2020 show a small deficit, which for a new launch this size very reasonable.

Total income £4,737
Total costs £14,480
Return to the BAD (deficit) (8,491)

Education book for the BAD

The BAD has signed a contract with Wiley to publish a dermatology training textbook aimed at trainees called Dermatology training: the essential, which has been mapped to the new curriculum. The Editors of this book are Mahbub M. U. Chowdhury, Tamara W. Griffiths, Andrew Y. Finlay. All the chapters were sent to Wiley by 31 March 2021 and is now undergoing copy editing with proofs of the first batch due to come in soon. Planned publication is end of this year.

In 2020, both BJD and CED have done exceptionally well financially and editorially. Table 1 and table 2 show the breakdown for both BJD and CED.

Financial Review

The consolidated financial statements include the results of the British Association of Dermatologists Biologics Register, details of which can be found in note 12. For the year ended 31 December 2020 the Association has achieved total consolidated income of £4,161,211 (2019: £6,024,649). Total consolidated expenditure have totalled £3,925,134 (2019: £5,535,827) resulting in an overall consolidated surplus of income over expenditure after gains on investments of £393,333 (2019: £882,645).

British Skin Foundation (BSF)

Donations of £200,000 were made to the BSF during 2020 (2019: £243,395). Further to this the BAD has supported the BSF with fully equipped office accommodation and all overheads without charge. Since the founding of the BSF in 1996 the BAD has given the BSF over £7 million in donations to distribute funds for dermatology research.

No 4 Fitzroy Square (Willan House)

The Property, Fabric & Content Sub-Committee continue to meet and regularly review the planned maintenance programme. While all staff are continuing to work from home during the pandemic, Willan House is currently undergoing major repair and redecoration, funds for this work was previously set aside as a designated fund.

Conference and Events Office

The conference team continues to work professionally and efficiently on the events programme, involved in 15 events in 2020. The events programme was drastically impacted by COVID with many scheduled events cancelled, postponed, or delivered virtually. Registrations for those events that did take place were high, and although overheads were less, the impact on sponsorship and reduced fees have negatively impacted on the overall forecast income for 2020. There were 4282 attendees and 49 exhibiting companies. The overall fees charged for the department’s service was £37,292.37. Some meeting surpluses were distributed to the appropriate organising groups. The income generated for the BAD directly including any agreed profit share totalled £396316.57. The conference programme of events is now split into three main areas: Core events, (BAD Annual Meeting, Medical Dermatology Day, StR Course); PCO Events where the department works as a hired Professional Conference Organiser (Special Interest Group Annual Meetings, International Congresses); and Co-Badged Educational events (Events mapped to the dermatology curriculum). The number of events in 2021 is significantly increased due to the virtual format.

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Reserves Policy

The Association’s reserves policy is that we have reserves that would allow us to keep functioning for 6 - 9 months if we did not receive any income, this would require a sum of approximately £1.6m. In addition, the Trustees have agreed to build up funds for the development of the College Project.

In addition, the Association has set aside funds for specific projects, these are the ‘designated funds’ (see note 19).

The current level of general reserves (unrestricted reserves less fixed assets reserves less designated funds) is £3.7m (2019: £3.5m). The current level of restricted reserves is £230k (2019: £260k).

Investment Policy and Performance

Date of Investment Policy: December 2020

1. Introduction

2. Investment Objectives

3. Risk

4. Liquidity Requirements

5. Time Horizon

6. Ethical Investment Policy

7. Management, Reporting and Monitoring

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

8. Approval and Review

The Association’s reserves are held in bank accounts, a Fixed interest account and in a portfolio of fixed interest securities and UK equities, in a pooled portfolio from many charitable organisations managed by our investment advisors at Rathbones. Bi-annual meetings are held between our fund managers and the finance committee to review the performance of the portfolio, which are managed on a growth/medium risk basis. The diversification across several asset classes had resulted in satisfactory performance when benchmarked against other comparison indices ie FT-SE 100 Index, APCIMS Balanced and ABI Cautious Pension over the same period. The Committee agreed that this position was appropriate in the current market conditions and did not to make any significant changes in-year. Rathbones have set up a pooled portfolio whereby funds from many charitable organisations are aggregated for investment purposes. They also have an ethical dimension to them. In 2017 we invested £500,000 into the Rathbones investments to improve on the current, poor return from bank accounts. A further £1.5m was invested in 2018.

Plans for the Future

Strategy

Working across all four nations of the United Kingdom, and supporting dermatology colleagues globally, the BAD is a multimillion-pound organisation that functions in increasingly complex and challenging environments.

To help maximise our efficiency, relevance, and impact we have created a strategy that sets out our key aims and objectives for the next five years and sets ambitious targets for us to be judged against.

Vision

Our overriding vision remains Healthy Skin for All. Our activities are all driven by a desire to improve skin, nail and hair health and ensure that people receive the best possible care.

Goal

The BAD aims to be the “go to” body for everything related to skin health. From the NHS to Government, patient groups to researchers we want the BAD to be seen as the acknowledged experts in dermatology, a valued partner and collaborator and the first port of call for all skin health related issues.

Key Objectives

Over the next five years we believe there should be three key objectives actions that the BAD should prioritise. Each action should have a number of measurable targets that can be reviewed to assess the success, or otherwise, of our strategy.

Objective 1

To promote the best possible standards of care for people with skin conditions, reducing regional variation and improving equality of access to quality care for all

Targets built around: audits/databases/care standards/clinical guidelines/ Teledermatology/AI/workforce planning & provision/ integrated care system/ working with patient & special interest groups

Objective 2

To collaborate, influence and foster skin specific research for the benefit of all

Targets built around research/mentoring/publishing/ working with academic institutions and providers/working with patients and other stakeholder groups

Objective 3

To work collaboratively to support and strengthen the education and training of all those involved in skin healthcare provision, promoting standards for all healthcare professionals for the improvement and maintenance of skin health Targets built around: BCD development/ training/mentoring/peer support/working with patients and other professional bodies

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Tactics

In order that we can effectively deliver our priority objectives we also need to ensure that the BAD remains stable, financially viable and fully engaged with its membership. To this end, and alongside the work that directly supports our key objectives, we will prioritise tactical actions that enable us to:

We recognise that this vision will be best delivered by actively engaging and collaborating nationally with multiple stakeholder groups - from patients to nurses, GPs to pharmacists, and many more besides. This approach will underpin our tactical actions.

Although there is much that the BAD could be involved in, we are an organisation with finite resources. Because of this, and in addition to being explicit about what we will do, we will also set out the areas where we do not believe it is appropriate for the BAD be working and where we will not spend time or resources. We will also only begin major new projects if they directly support the achievement of one or more of our key objectives.

Assumptions

In planning this strategy, we have made a number of assumptions:

Sustainability – sustainability, for both the BAD’s operations and the profession of dermatology, should always be considered when planning and taking actions to ensure that our carbon footprint is minimised and that our work makes the smallest possible environmental impact whilst still enabling us to deliver against our objectives Openness – the BAD remains a democratic and open organisation where the staff team works to deliver members’ wishes as directed by an independently elected Officer team. We work not for the benefit of one group or part of the profession but for the benefit of all and progress against our strategic targets is open to assessment on an annual basis.

Economic stability – although the broader economic climate is likely to change over the course of the strategy, we have made our plans assuming that the size of our membership base remains at least the same as in 2020; that membership fees are not cut significantly and that commercial income from publishing and events continues at no lower than 2020 rates. As stated above we will endeavor to grow both membership and income and diversify our financial base.

Equality – the fundamental principles of equality, diversity and fairness underpin all of our work. We recognise and value differences through inclusion, regardless of age, disability, gender, racial origin, religion, belief, sexual orientation, perspectives, opinions or personal values.

Accessibility & Innovation – ensuring information, resources, and education are accessible and making use of appropriate innovations to improve ease of access should always be priority for the BAD. Where possible, geographical location should not be a limiting factor when it comes to benefitting from the work of the BAD.

Covid-19 and clinical service

Dermatology services have been adversely affected by the Covid-19 pandemic. During Phase 1 our members were amongst the first clinicians to be redeployed to the Covid wards, to ease pressure on the acute physicians. Departments have been running with virtual and telephone consultations and an exponential growth in the use of technology. Processes for digitalising patient flow and apps for patient communication, that have been under discussion for many years without any progress, have been brought in overnight. Many of the solutions are untested and there is disparity around the country. Now we are entering Phase 2 and staff returning to dermatology departments are faced with a huge backlog of patients, many acutely unwell, but with no clinic space and a wide range of technical solutions but no defined patient pathways.

We are currently working with NHS England, NHS Improvement Elective Care Transformation Team and GIRFT to harness the lessons learned during Phase 1 of the Covid-19 response to inform improved service provision and to reduce the number of unnecessary outpatient visits.

This work will become the major focus for the association for a number of years and impact on all our areas of activity, including the need to change training methods, improve connectivity between departments and support members in obtaining the resources they will require from their trusts. A key element will be to ensure that the provision of subspecialty services, patch testing, phototherapy, vulval services etc is maintained. We are well served by the work done during 2020 to identify the barriers to efficient outpatient delivery and put in place solutions.

13

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Covid-19 and the work of the association

The BAD office has been closed since March 20[th] 2020 and all staff are working from home and are in active communication with colleagues and members to deliver our objectives. It was not necessary to furlough any staff member. Most of our planned educational meetings have been delivered virtually and we will continually assess the need for future meetings to be delivered, virtually, in person or a mixture of the two.

Both our AGM and Annual Scientific Meeting will be held virtually from the 5[th] July as planned.

Patient Support Groups (PSGs)

In 2007, The Executive of the BAD established a designated fund of £100,000 to be distributed in small grants to the patient support groups. A small committee, which included representatives of the PSGs, was formed to judge applications. The Executive approved a further donation to the fund of £50,000 in April 2010. In 2014 an extra £15,000 was added to this designated fund and in 2015 £5,000 was added. The Officers of the Association agreed that further applications will be considered in Spring and Autumn each year as usual but in the future, this will be budgeted and therefore no further funds added to this designated fund. In 2020 the BAD award a total of £10,057 to 5 Patient Support Groups.

Structure, Governance and Management

Constitution

Title and Objects

The Association shall be called the British Association of Dermatologists.

Its objects shall be to promote for the public benefit the knowledge, practice and teaching of dermatology and in furtherance of the above object but not otherwise:

The Association has adopted the slogan ‘Healthy Skin for All’ and will carry out the following activities in furtherance of the above objects:

(These statements each have the same value and will not be numbered or lettered to indicate any priority.)

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Trustees

The trustees in office at the date of approval of this report are set out on the Reference and Administrative Details page of these accounts.

The following trustees completed their terms of office on 2[nd] July 2020:

Dr Louise Fearfield Dr David Brass Dr Larry Shall

The following Members became trustees on 2[nd] July 2020:

Dr Maneesha Vatve Dr Shamali Hoque Dr Pallavi Gupta

The trustees are the elected officers, The President, Vice-President Clinical, Vice-President Academic, Honorary Secretary, Assistant Honorary Secretary, who all serve a two-year term and the Honorary Treasurer who serves a three-year term. In addition, the Immediate Past President and President-Elect serve a one-year term consecutively. They are elected by secret ballot of the Ordinary, Honorary and Trainee Members only using the single transferable vote system. The Editor of the British Journal of Dermatology is also a trustee and is appointed by the trustees. The views of the Ordinary, Honorary and Associate Members are represented by the trustees elected as regional representatives.

The UK and Ireland is divided into constituencies and only those Ordinary and Honorary Members working in the said constituencies elect by secret ballot using, if appropriate, the single transferable vote system, 14 Ordinary or Honorary Members to sit as trustees on the Executive Committee. The constituencies were previously based on the National Health Service Management Executive (NHSME) regional offices but subject to be changed as deemed necessary by the Executive Committee. At the AGM in 2013 the boundaries of the constituencies were changed to map to the new NHS structure and an additional constituency was created.

The elected representatives for England, Eire & Northern Ireland and Wales hold office for three years and are not eligible for re-election until after a lapse of three years. The elected representative for Scotland holds office for two years and is not eligible for re-election until after a lapse of two years. Where the elected representative is unable to attend, the immediate predecessor of the representative in question should be able to attend instead, with the full rights of the representative.

The views of the Trainee and Associate Trainee Members are represented by the Trainee Representative. The Trainee Members only elect by secret ballot using, if appropriate, the single transferable vote system, a Trainee Member to sit as a trustee on the Executive Committee. The Trainee Representative holds office for a maximum period of two years or until he or she is registered as a specialist or ceases to be a Trainee in Dermatology.

The trustees (as Members of the Executive) are responsible for the policies of the Association. The periods of office, dictated by the Constitution, ensure there is a constant turnover of trustees with wide geographical and Dermatological backgrounds.

All trustees are unpaid and carry out this work in addition to their normal clinical or academic roles. The only trustee who receives remuneration is the editor of our official journal, the British Journal of Dermatology.

The Charity Commission has agreed that the BAD may reimburse the employers of the President, Vice presidents, Honorary Secretary and BJD Editor in relation to the amount of time and services provided to the Charity, which is considered to exceed that of a normal Trustee.

The trustees are all Consultant Dermatologists practising within the NHS and therefore have detailed knowledge of all aspects of the speciality of Dermatology including training, research and the delivery of patient care. They are elected to office by the Membership. They are long standing Ordinary Members of the Association and so are familiar with its objects and activities. They are provided with an induction pack giving details of the duties and responsibilities of a trustee, the Association’s financial governance and the names and roles of its advisers. The senior officers serve a term in an elect or assistant capacity so that they gain an understanding of the role. The regional and trainee representatives undertake a period of shadowing their predecessor before taking office. All trustees are invited to visit the headquarters at any time to learn more about the administration processes.

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Structure

The makeup of the Executive and Sub-committees is governed by rules laid down in the Association’s Constitution. The trustees are the elected and voting Members of the Executive Committee and they represent the incorporated body of ‘trustees’ of the Association.

The charity is based in the UK with its headquarters in London with an incorporated body of trustees. The business of the Association is co-ordinated by the officers (President, President Elect, Vice President Clinical, Vice President Academic, Honorary Secretary, Honorary Secretary Elect, Honorary Treasurer, Honorary Treasurer Elect) who meet monthly. Further/final discussion of policy and ratification of decisions are made by the Executive whose Membership is the elected trustees who are the Officers, Regional Representatives and Trainee Representative of the Association, a lay Member and a number of co-opted and ex-officio Members to provide expert advice on other aspects of dermatology.

The Association continually reviews its constitution and the structure of the trustee body, setting the Presidential term of office at two years and the supportive roles of the Academic Vice President and Clinical Vice President are designed to enable continuity, strength for change and interaction with outside bodies.

Various sub-committees are appointed to oversee specific aspects of the Association’s activities (for instance, Education, Research, Skin Cancer, Therapeutics, Guidelines and Patient Information (PILS), Health Informatics, website development and maintenance.) The Association has created units to support the work of the committees and the further development of activities under the guidance of the officers. These departments deliver the objects of the charity in the areas of Clinical Standards, Clinical Services, Communications, Research, Education, Conference and Events.

The Association forges relationships with other societies whose interests pertain to skin disease. The Dermatology Council for England and All Party Parliamentary Group on Skin work to protect and promote the interests of patients. The British Skin Foundation raises funds for research and distributes them via a grant giving process. The Dowling Club promotes education and training for trainees. A number of other groups are dedicated to specific aspects of Dermatology such as the British Society of Investigative Dermatology, the British Dermatological Nursing Group and the British Society for Dermatological Surgery. The Association provides support to all these groups by means of financial donations, assistance with administrative services and advice.

The BAD is a Member of the International League of Dermatology Societies (ILDS) and a supporter of the International Foundation for Dermatology (IFD). The Association makes donations to support the work that of the IFD in providing Dermatology training to healthcare workers in the developing world. The BAD is a Member of the European Academy of Dermatology and Venereology (EADV).

16

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Key Management Personnel

The trustees consider the board of trustees, the chief executive and the senior management team, as identified on page 1 as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in the accounts.

Trustees are required to disclose all relevant interests and register them with the BAD Declaration of Interest Online Register and in accordance with the Association’s policy to withdraw from decisions where a conflict of interest arises. Neither the Association nor any of the trustees have interests with the pharmaceutical industry but any such interests would be disclosed.

The pay of the charity’s key management is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, its economy of operations, and the extensive use of professional advisers to the trust board, the trustees consider market rate salaries are appropriate for these roles. The remuneration is also bench-marked with grant-making charities of a similar size and activity to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles.

Risk Management

The trustees and officers regularly review the major risks faced by the charity. The key risks identified include:

These are minimised as outlined below:

17

THE BRITISH ASSOCIATION OF DERMATOLOGISTS REPORT OF THE TRUSTEES Thè tnJsts8s are re¥K)nblè foriwlThJ tho TnJstses' knnual ROK￿rt the statements In accordance The law appltcable to d￿rIDeS in ErhJland & Wales wuires the Iru$teès to prepare finanual ststeThents for èach flnanaal year wtiith gwe a In* and lair wew ofthe stst8 of aft￿[s ofthe thanty 8ThY of the inlLIII 18

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE BRITISH ASSOCIATION OF DERMATOLOGISTS

Opinion

We have audited the financial statements of The British Association of Dermatologists (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 31 December 2020 which comprise the Group Statement of Financial Activities, the Group and parent charity Balance Sheets, the Group/Group and Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 have been appointed as auditors under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

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 group and parent 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 the group’s or parent charity’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 Report of the Trustees other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Report of the Trustees. Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

19

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE BRITISH ASSOCIATION OF DERMATOLOGISTS

Matters on which we are required to report by exception

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

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ responsibilities set out on page 18 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 group’s and parent 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 group or parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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.

The extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

20

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE BRITISH ASSOCIATION OF DERMATOLOGISTS

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Charities Act 2011, the parent charity’s governing document, tax legislation and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, and remaining alert to new or unusual transactions which may not be in accordance with the governing documents.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to the General Data Protection Regulation. We performed audit procedures to inquire of management and those charged with governance whether the group is in compliance with these law and regulations and inspected correspondence with regulatory authorities.

The audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates.

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

Use of this report

This report is made solely to the charity’s trustees as a body, in accordance with the Charities Act 2011. 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.

RSM UK Audit LLP, Statutory Auditor Chartered Accountants Davidson House Forbury Square Reading, RG1 3EU

Date: 17 September 2021

RSM UK Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

21

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

General
Notes
Funds
£
Income from:
Investments:
Investment income
2
83,106
Charitable activities:
Membership
3
425,133
Journals
3
1,916,597
Conferences
3
490,309
Education
3
750
Biologics Register
3
937,839
Other trading activities
4
297,477
Total income
4,151,211
Expenditure on:
Raising funds:
4,184
Charitable activities:
Setting standards of service delivery
5
597,939
Promoting training and education
5
597,939
Promoting dermatology research
5
597,939
Support and representation
5
525,046
Raise awareness of skin health
5
556,262
Biologics Register
5
856,221
Total expenditure
3,735,530
Net gains on investments
157,256
Net income/(expenditure)
572,937
Transfers
(443,612)
Net movement in funds
129,325
Fund balances brought
forward 1 January
6,689,065
Fund balances carried
forward 31 December
6,818,390		 General
Notes
Funds
£
Income from:
Investments:
Investment income
2
83,106
Charitable activities:
Membership
3
425,133
Journals
3
1,916,597
Conferences
3
490,309
Education
3
750
Biologics Register
3
937,839
Other trading activities
4
297,477
Total income
4,151,211
Expenditure on:
Raising funds:
4,184
Charitable activities:
Setting standards of service delivery
5
597,939
Promoting training and education
5
597,939
Promoting dermatology research
5
597,939
Support and representation
5
525,046
Raise awareness of skin health
5
556,262
Biologics Register
5
856,221
Total expenditure
3,735,530
Net gains on investments
157,256
Net income/(expenditure)
572,937
Transfers
(443,612)
Net movement in funds
129,325
Fund balances brought
forward 1 January
6,689,065
Fund balances carried
forward 31 December
6,818,390		 Designated
Restricted
Total
Total
Funds
Funds
2020
2019
£
£
£
£
-
-
83,106
21,619
-
-
425,133
412,859
-
-
1,916,597
2,103,544
-
-
490,309
1,181,136
-
10,000
10,750
136,000
-
-
937,839
1,812,134
-
-
297,477
357,357
4,151,211 -
10,000
4,161,211
6,024,649
4,184
597,939
597,939
597,939
525,046
556,262
856,221		 -
-
4,184
-
53,952
-
651,891
865,289
3,826
-
601,765
808,217
61,634
-
659,573
836,095
-
-
525,046
613,131
30,250
39,942
626,454
682,714
-
-
856,221
1,730,381
3,735,530
157,256		 149,662
39,942
3,925,134
5,535,827
-
-
157,256
393,823
572,937
(443,612)		 (149,662)
(29,942)
393,333
882,645
443,612
-
-
-
129,325
6,689,065		 293,950
(29,942)
393,333
882,645
4,335,652
260,063
11,284,780
10,402,135
6,818,390 4,629,602
230,121
11,678,113
11,284,780

22

CONSOUDATED AND CHARtrY BALANCE SHEErs AS AT 31 DECEM8ER 2020 CMrKy 2019 21119 IntsngitAe assets 10 11 12 86.547 3,072.311 3.184.538 86.S47 3.072,311 3.184.538 28.%0 3.152.880 2.970.412 3.152.￿) 2970,412 6.343.396 6.152252 6.343. 6.152.252 CuTh•nt aM•ts 13 3.521.732 10.056.1￿1 3.013,W 3.640,562 7.iXKI.wa 3.D)8.761 1,787.369 2.271.3r 1627.8B2 I,￿1.679 2.(iN).￿￿ 2.C(Q.(x(I 14 16.591.722 13.￿.(r 6.415251 8,161.985 due within on8 YB 15 3.￿227 1.141824 1.C7.554 12,663.495 10.684.822 5.272.427 5,074.431 16 17.328.n81 15.5522941 11.678.113 11284700 11.61&823 1122Q683 3.158. 3,$97242 rJo,121 4.629.602 4.335.652 3.181WO 3.449.129 3.158.858 1181.840 3.597242 3.449.129 230.121 260.L￿3 4.629.602 4.335.652 Restnct&J fuThJs Dwgnated fijnds 11.6n.113 112M7JO 11.61S823 11Xq683 IL (LI

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Cash flows from operating activities
21
Interest received
Corporation tax paid
Net cash flow generated from operating activities
Cash flow from investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Purchase of current asset investments
Purchase of fixed asset investments
Proceeds on disposal of fixed asset investments
Net cash flow used in investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT
Increase in cash in the period / change in net debt
Net debt at 1 January
Net debt at 31 December
Cash and cash equivalents consists of:
Cash at bank and in hand		 2020
£
3,127,852
77,938
-
3,205,790
(71,962)
(21,596)
-
(58,098)
1,228
(150,428)
3,055,362
7,000,699
10,056,061
3,055,362
7,000,699
10,056,061
10,056,061		 2019
£
2,354,711
21,619
(127)
2,376,203
-
(12,739)
(1,007,508)
-
-
(1,020,247)
1,355,956
5,644,743
7,000,699
1,355,956
5,644,743
7,000,699
7,000,699

24

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1. Accounting policies

Basis of preparation

The British Association of Dermatologists is registered charity in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are detailed on page 2. The charity constitutes a public benefit entity as defined by FRS 102.

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) issued in October 2019, the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. Their assessment is based on a review of the budget until December 2022 as well as the performance of the charity and group since the onset of the Covid-19 pandemic. Given the levels of cash and investments held as well as the income streams of the charity and group being relatively unaffected by Covid19. The Trustees consider that the charity and group will be able to meet their liabilities as they fall due for at least 12 months from the date of signing these financial statements.

Reduced disclosures

The charity is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepare a publicly available consolidated financial statements, including this charity, which are intended to give a true and fair view of the assets, liabilities, financial position and surplus or deficit of the group. The charity has therefore taken advantage from the following exemptions in its individual financial statements:

Consolidation

These financial statements consolidate the results of the charity, and its wholly owned subsidiary, British Association of Dermatologists Biologics Register Limited on a line by line basis. The charity has taken advantage of the exemption available from publishing its own statement of financial activities. The charity has three dormant subsidiaries who are not included in the consolidation and further details can be found in the investments note 12.

Income recognition

All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

25

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1. Accounting policies (continued)

Investment income is earning through holding assets for investment purposes such as shares and property. It includes dividends and interest. Where it is not practical to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity’s right to receive payment is established.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. All premises overheads have been allocated on an per-capita basis of staff basis.

The analysis of these costs is included in note 7.

Website development costs

Where a website is expected to provide economic benefit through the provision of educational information to beneficiaries of the charity, expenditure on the functionality of the website is capitalised and treated as an intangible fixed asset.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Taxation

The charity is a registered charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Intangible fixed assets other than goodwill

Intangible assets comprise of website development costs. Such assets are defined as having finite useful lives and the costs are amortised on a reducing balance basis of 33.33%. Intangible assets are stated at cost less amortisation and are reviewed for impairment whenever there is an indication that the carrying value may be impaired.

Tangible fixed assets

Fixed assets are stated at cost or estimated market value at the date of receipt where assets have been donated to the charity.

Depreciation is provided to write off the cost (or market value at the date of receipt) less estimated residual values of all fixed assets over their expected useful lives at the following rates. Freehold land is not depreciated.

Freehold buildings - 2% per annum straight line Office equipment and fittings - 25% per annum reducing balance Computer equipment - 33.33% per annum reducing balance

26

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1. Accounting policies (continued)

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Investments in subsidiaries are measured at cost less impairment.

Funds accounting

Restricted funds – these are funds that can only be used for specific restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds – these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Pension

The group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Financial assets and financial liabilities are recognised when the charitable company becomes a party to the contractual provisions of the instrument, and are offset only when the charitable company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets

Fee debtors, amounts owed by subsidiary undertakings and other debtors (including accrued income) which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where the arrangement with a debtor constitutes a financing transaction, the debtor is initially measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument and subsequently measured at amortised cost.

Financial liabilities

Basic financial liabilities, including trade and other payables and amounts owed to subsidiary undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

27

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1. Accounting policies (continued)

Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

There are no key assumptions concerning the future and other key 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 financial year.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 11 for the carrying amount of the property plant and equipment, and the corresponding accounting policy for the useful economic lives for each class of assets.

Bad debts

Trade debtors are regularly reviewed for recoverability. Any debts which in the opinion of management are not recoverable are provided for as a specific bad debt.

Treatment of Surpluses in British Association of Dermatologists Biologics Register Limited

A judgement is made as to the treatment of surpluses made on the contracts with pharmaceutical companies. It is the intention of BADBRL and the pharmaceutical companies that these contracts do not run at a profit and therefore that any surpluses on the contract should be returned to the individual pharmaceutical companies at the end of the term of the contract. Therefore, the Directors believe that these surpluses should be included within long-term creditors as amounts due to the Pharmaceutical companies to be repaid upon termination of the contracts in place.

2. Investment income 2020 2019
£ £
Interest receivable 83,106 21,619
3.
Charitable activities
Membership
Journals
Conferences
Education
Biologics Register		 General
Funds
£
425,133
1,916,597
490,309
750
937,839
3,770,628		 Restricted
Funds
£
-
-
-
10,000
-
10,000		 Total
2020
£
425,133
1,916,597
490,309
10,750
937,839
3,780,628		 Total
2019
£
412,859
2,103,544
1,181,136
136,000
1,812,134
5,645,673

Of the total charitable income received for the year to 31 December 2019 £140,000 was attributable to restricted funds and £5,505,673 to unrestricted funds.

28

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

4.
Other trading activities
Recharged expenses
Recharged salaries
Room hire
Advertising – BAD newsletter
Communications Campaigns
Specialty Certificate Examination
Other income
5.
Expenditure
Indirect
Staff
costs
£
Charitable activities:
Setting standards of service
delivery
333,532
Promoting training and
education
333,532
Promoting dermatology
research
333,532
Support and representation
333,532
Raise awareness of skin health
360,960
Biologics Register
-
1,695,088		 Direct
Costs
£
199,738
149,612
207,420
72,893
115,657
845,034
1,590,354		 Support
costs
(note 7)
£
118,621
118,621
118,621
118,621
149,837
11,187
635,508		 Unrestricted
Total
Total
2020
2019
£
£
125,413
139,016
136,200
132,785
15,170
29,282
20,523
26,867
39
5,408
-
22,999
132
1,000
297,477
357,357
Total
Total
2020
2019
£
£
651,891
865,289
601,765
808,217
659,573
836,095
525,046
613,131
626,454
682,714
856,221
1,730,381
3,920,950
5,535,827		 Unrestricted
Total
Total
2020
2019
£
£
125,413
139,016
136,200
132,785
15,170
29,282
20,523
26,867
39
5,408
-
22,999
132
1,000
297,477
357,357
Total
Total
2020
2019
£
£
651,891
865,289
601,765
808,217
659,573
836,095
525,046
613,131
626,454
682,714
856,221
1,730,381
3,920,950
5,535,827
357,357
Total
2019
£
865,289
808,217
836,095
613,131
682,714
1,730,381
5,535,827

Of the total expenditure for the year to 31 December 2019 £32,748 was attributable to restricted funds, £203,414 to unrestricted designated funds and £5,299,665 to unrestricted funds.

6.
Grants and donations
Included within direct costs above are the following grant payments:
Institutions
Individuals		 2020
£
274,086
114,898
388,984		 2019
£
450,604
63,426
514,030

29

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

6. Grants and donations (continued)

Grants of over £1,000 were paid to institutions are as follows:
British Skin Foundation
Medical Research Council
The All Party Parliamentary Group on Skin
The International Foundation for Dermatology
Alopecia Association
UK Dermatology Clinical Trials Network - Trial Manager Funding
UK Dermatology Clinical Trials Network
Eczema Outreach Support
Lipoedema
Tuberous Sclerosis Association
Behcet’s UK
Caring Matters Now
XP Support Group
Vitiligo Society
EuroGuiDerm
National Eczema Society
Ichthyosis Support Group
British Association of Skin Camouflage
Grants of over £1,000 were paid to individuals as follows:
T Ahad - Geoffrey Dowling Fellowship
S Miettinen - Intercalated Degree Award
H Hasa - Intercalated Degree Award
Adam Sheriff - Intercalated Degree Award
Blaithin McGarry Intercalated Degree Fellowship
C Tziotzios - Study Fellowship
Chuin Ying Ung
N Paul - Dowling Club Overseas Award
Fangyi Xie Geoffrey Dowling Fellowship
Rino Cerio Consultant Sabbatical Fellowship
Jingyuan Xu – AAD & BAD Registration Scholarship
H Wace DC Overseas trip
B Olabi - Dermatology Education Bursary
S McSweeney Study Fellowship
Dr M Demisse - Roger Harman Fellowship
Stephen Walker Roger Harmen African Travel Fellowship
William Haw AAD & BAD Registration Scholarship
Wisam Alwan AAD & BAD Registration Fellowship
P Bryant DC Overseas trip
Patrick Bryan DC Travel
Grants < £1,000		 2020
£
200,000
-
30,000
24,779
-
-
-
-
-
-
-
-
-
2,500
10,000
4,202
1,005
1,600
274,086
2020
£
-
-
-
3,000
3,000
-
33,548
-
25,000
20,000
1,000
1,000
-
3,750
-
9,650
1,000
1,000
1,000
1,000
10,950
114,898		 2019
£
243,395
53,302
30,000
26,801
7,774
57,545
10,000
2,292
6,106
1,600
2,125
6,444
3,220
-
-
-
-
-
450,604
2019
£
25,000
3,000
3,000
-
-
3,750
-
1,000
-
-
-
-
5,000
-
6,000
-
-
-
-
-
16,676
63,426

30

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

7.
Support Costs
Printing, postage & stationery
Committee support
Travel costs (non executive)
Bad debts
Depreciation and amortisation
Communication Strategy expenses
Telephone/computer expenses
Property costs
Legal & professional fees
Other management & administration costs
Governance costs		 2020
£
18,521
24,937
9,663
31
116,539
25,578
133,140
77,147
27,904
173,591
28,457
635,508		 2019
£
33,895
62,048
37,676
-
115,692
37,135
178,186
94,079
19,510
217,830
31,418
827,469

Support costs provide the organisational infrastructure that enables the charitable activities. They have been allocated on a per-capita basis of staff employed. Staff work across several activities therefore the costs have been allocated in proportion to the percentage of the time spent on each activity.

8.
Governance Costs
Auditor’s remuneration - for audit (BAD)
- for audit (BADBRL)
Auditor’s non-audit services for the group
- Other services
- Taxation compliance
- VAT planning and advice
9.
Staff Costs
Salaries and wages
Social security costs
Other pension costs		 2020
£
14,800
3,950
4,300
850
4,557
28,457
2020
£
1,460,120
150,516
84,452
1,695,088		 2019
£
15,000
4,000
3,900
1,050
7,468
31,418
2019
£
1,308,666
122,499
66,085
1,497,250

The average monthly number of employees during the year was 39 (2019: 35). This included 1 member of staff in the British Association of Dermatologists Biologics Register (2019: 1).

5 employees earned emoluments between £60,001 and £70,000 during the year (2019: 4), 1 employee between £70,001 and £80,000 (2019: 1) and 0 employees between £80,001 and £90,000 (2019: 1).

31

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

9. Staff Costs (continued)

The group considers the board of trustees, the chief executive and the senior management team as their key management personnel. The total amount of employee remuneration received by key management personnel is £514,049 (2019: £614,194).

None of the Trustees received any remuneration during the year (2019: £nil) for services as a trustee. During the year 6 (2019: 3) trustees received £138,499 (2019: £53,986) remuneration for their services to the charity. The payments were paid directly to the Trustees employer as compensation for their time given to the charity.

Travelling and accommodation expenses of £15,518 (2019: £52,402) were reimbursed to 43 (2019: 106) Trustees and committee members.

10. Intangible fixed assets

Group and charity
Cost
As at 1 January 2020
Additions
As at 31 December 2020
Amortisation
As at 1 January 2020
Charge for year
As at 31 December 2020
Net Book Value
At 31 December 2020
At 31 December 2019		 Website
development
costs
£
182,521
71,962
254,483
153,561
14,375
167,936
86,547
28,960

Amortisation is charged in the statement of financial activities through support costs.

11.

Tangible fixed assets
Group and charity
Freehold
property
£
Cost
As at 1 January 2020
4,444,014
Additions
7,113
As at 31 December 2020
4,451,127
Depreciation
As at 1 January 2020
1,331,937
Charge for year
88,952
As at 31 December 2020
1,420,889
Net Book Value
At 31 December 2020
3,030,238
At 31 December 2019
3,112,077
The freeholdpropertyis used for direct charitablepurposes.		 Computer
equipment
£
326,549
12,707
339,256
300,463
9,460
309,923
29,333
26,086		 Office
equipment
and
furniture
£
231,455
1,776
233,231
216,738
3,753
220,491
12,740
14,717		 Total
£
5,002,018
21,596
5,023,614
1,849,138
102,165
1,951,303
3,072,311
3,152,880

32

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

12.
Fixed asset investments
Group and charity
Market Value at 1 January
Additions
Disposals
Change in market value
Market value at 31 December
Cost at 31 December		 2020
£
2,970,412
58,098
(1,228)
157,256
3,184,538
2,481,183		 2019
£
2,576,589
-
-
393,823
2,970,412
2,481,183

All investments are carried at their fair value. Investments in equities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

Investment in subsidiary undertaking

The subsidiary undertaking, a company limited by guarantee, is the British Association of Dermatologists Biologics Register, the principal activity of which is the running of the British Association of Dermatologists Biologics Register. The registered office is 4 Fitzroy Square, London, W1T 5HQ, and company number 06434034.

A summary of the results is shown below. Audited accounts will be filed with the Registrar of Companies.

Income and expenditure account
Income
Direct costs
Gross surplus
Administrative expenses
Bank interest received
Other interest paid
Surplus before tax
Taxation
Retained surplus		 Year to 31
Dec 20
£
932,631
(845,034)
87,597
(87,597)
5,208
(24)
5,184
(990)
4,194		 Year to 31
Dec 19
£
1,803,090
(1,713,322)
89,768
(89,768)
9,044
(13)
9,031
(965)
8,066

33

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

12.
Fixed asset investments (continued)
Balance Sheet
Debtors
Investments
Cash at bank and in hand
Creditors: Amounts falling due within one year
Net current assets
Creditors: Amounts falling due after one year
Net assets		 2020
£
1,849,548
1,013,929
7,428,179
10,291,656
(2,900,588)
7,391,068
(7,328,778)
62,290		 2019
£
1,380,148
1,008,761
5,110,020
7,498,929
(1,888,539)
5,610,390
(5,552,294)
58,096

At 31 December 2020 the charity had a further 3 subsidiaries. These are:

The British College of Dermatology, company number 11704655 British Association of Dermatologists Eczema Register Limited, company number 11491107 Fitzroy Dermatology Limited, company number 11409485

The registered offices are 4 Fitzroy Square, London, United Kingdom, W1T 5HQ.

These entities were dormant during the year ended 31 December 2020 and therefore are exempt from audit by virtue of Section 476A of the Companies Act 2006.

13.
Debtors
Trade debtors
Other debtors
Prepayments and accrued income
Amounts owed by group companies
14.
Current asset investments
Under 1 year to maturity
Investments held		 Group
2020
2019
£
£
1,736,083
1,944,310
1,169,186
1,469,977
616,463
226,275
-
-
3,521,732
3,640,562
Group
2020
2019
£
£
3,013,929
3,008,761
3,013,929
3,008,761		 Charity
2020
2019
£
£
223,369
577,487
1,159,246
1,459,664
289,569
223,263
115,185
10,892
1,787,369
2,271,306
Charity
2020
2019
£
£
2,000,000
2,000,000
2,000,000
2,000,000

All investments are carried at their fair value and represent cash held in deposit accounts.

34

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

15.
Creditors:amounts falling due
within one year
Trade creditors
Other creditors
Other taxation and social security
Accruals and deferred income
Deferred income:
Deferred income at 1 January
Release from previous years
Amounts deferred in the year
Deferred income at 31 December		 Group
2020
2019
£
£
1,440,924
73,381
246,235
281,157
211,135
41,000
2,029,933
2,569,662
3,928,227
2,965,200
1,995,259
2,396,234
(1,995,259)
(2,396,234)
1,791,882
1,995,259
1,791,882
1,995,259		 Charity
2020
2019
£
£
156,959
73,381
175,629
215,878
38,419
39,284
771,817
759,011
1,142,824
1,087,554
515,256
317,983
(515,256)
(317,983)
533,764
515,256
533,764
515,256		 Charity
2020
2019
£
£
156,959
73,381
175,629
215,878
38,419
39,284
771,817
759,011
1,142,824
1,087,554
515,256
317,983
(515,256)
(317,983)
533,764
515,256
533,764
515,256
1,087,554
317,983
(317,983)
515,256
515,256

Deferred income comprises contract fee income which relates to services that will be provided in future periods.

16.
Creditors:amounts falling due
after one year
Other creditors
17.
Retirement benefit schemes
Defined contribution schemes
Charge to statement of financial activities
in respect of defined contribution
schemes		 Group
2020
2019
£
£
7,328,778
5,552,294
Group
2020
2019
£
£
82,956
66,085		 Charity
2020
2019
£
£
-
-
Charity
2020
2019
£
£
82,956
66,085

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

35

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

18.
Restricted funds
Group and charity
1 January
2020
£
Betty Parkes Fund
20,890
eLFH-Dermatology
197,756
THESIS Fund
36,629
BADGEM Sub Award –
Clinical fellowships
-
Teledermaratology
4,788
260,063
Restricted funds - prior year
Group and charity
1 January
2019
£
Betty Parkes Fund
20,890
eLFH-Dermatology
72,793
THESIS Fund
37,612
BADGEM Sub Award –
Clinical fellowships
2,141
Teledermaratology
6,788
140,224		 Income
£
-
10,000
-
-
-
10,000
Income
£
-
140,000
-
-
-
140,000		 Expenditure
£
-
(39,122)
(820)
-
-
(39,942)
Expenditure
£
-
(25,037)
(983)
(4,728)
(2,000)
(32,748)		 Transfers
£
-
-
-
-
-
-
Transfers
£
-
10,000
-
2,587
-
12,587		 31 December
2020
£
20,890
168,634
35,809
-
4,788
230,121
31 December
2019
£
20,890
197,756
36,629
-
4,788
260,063

Betty Parkes Fund

In 1995 a bequest of NZ$50,000 was made by Mrs Parkes to contribute to the costs of visits by appropriate UK consultants as guest speakers at conferences of the New Zealand Dermatological Society (NZDS). From time to time the NZDS draw down funds for this purpose and accumulated interest is added to the fund by the BAD.

eLFH–Dermatology

In 2008 the Department of Health and the BAD agreed to work together to provide the dermatology curriculum through e-learning as part of a blended training solution to dermatology trainees. The DH covered all the management and technical costs including the platform and provided a grant to the BAD to pay for the production of the content and the BAD received an initial fund of £50,000 in 2008, £77,000 in 2009, £77,000 in 2010, £45,000 in 2011, £108,000 in 2012, £140,000 in 2019 and a further £10,000 in 2020. The project is ongoing, work continues around promoting use of the resource and continual updating of sessions. The transfer of £10,000 in the prior year represents BAD’s contribution to this project from unrestricted funds.

THESIS Fund

In 2012, the Association set up the restricted THESIS Fund with a donation of £5,000 from Dr Clive Archer, this was matched with a donation from the BAD Education Fund. Each year a THESIS/BAD/BSID Research Course is held at the BAD, any surplus funds after expenses of the meeting are added to the THESIS Fund. Annually, as part of the BAD fellowship awards committee, the Clive Archer THESIS Fellowship of £500 is awarded from this fund. The THESIS fund also covers the costs of binding any completed theses given to the BAD by members.

BADGEM Sub Award – Clinical fellowships

In August 2016, the University of Dundee awarded a fund of £80,000 to the British Association of Dermatologists to fund clinical fellowships specifically for data importation to support the development of a national clinical network for skin diseases. The transfer in the prior year represents a transfer from unrestricted funds for the final expenses on these clinical fellowships.

Teledermatology

In 2018 the British Teledermatology Society was wound up. All remaining funds, £8,788, were passed to the BAD to hold as a restricted fund. The purpose of the fund is to offer an annual fellowship to registrars interested in Teledermatology to attend an appropriate meeting.

36

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

19. Designated funds
Group and charity
Education fund
Research fund
Short term strategic projects
Quality assurance fund
BAD/BSF/MRC fellowships
Organisation review
Eczema Registry Year 1
Photo Net type database
UKDCTN – Development Manager,
further 2 years
BAD guideline Development
Patient engagement hub website
College Project
BAD UK Keratinocyte Cancer
Collaborative (UKKCC)
A*Star Eczema Registry
BAD Service Standards and Clinical
Registries Fund
Willan House refurbishment
Publishing development
Skin Cancer and Public Health
England Fund
PSORT
BAD Digital Transformation
Topol Fellowships
Outpatient Transformation		 1 January
2020
£
187,255
8,876
6,991
20,353
153,616
50,000
81,108
70,000
56,455
50,000
998
1,500,000
350,000
350,000
400,000
550,000
50,000
100,000
-
100,000
150,000
100,000
4,335,652		 New
Designations
£
-
-
-
-
65,000
-
-
-
78,612
-
-
-
-
-
-
-
-
45,000
130,000
-
125,000
-
443,612		 Expenditure
in the year
£
(3,539)
(2,934)
-
-
(53,952)
-
(30,250)
-
-
-
(287)
-
(20,000)
-
-
-
-
(38,700)
-
-
-
-
(149,662)		 31 December
2020
£
183,716
5,942
6,991
20,353
164,664
50,000
50,858
70,000
135,067
50,000
711
1,500,000
330,000
350,000
400,000
550,000
50,000
106,300
130,000
100,000
275,000
100,000
4,629,602

37

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

19. Designated funds – prior year
(continued)
Group and charity
Education fund
Research fund
Short term strategic projects
Quality assurance fund
BAD/BSF/MRC fellowships
Organisation review
Eczema Registry Year 1
Photo Net type database
UKDCTN – Development Manager, further
2 years
BAD guideline Development
Patient engagement hub website
College Project
BAD UK Keratinocyte Cancer Collaborative
(UKKCC)
A*Star Eczema Registry
BAD Service Standards and Clinical
Registries Fund
Willan House refurbishment
Publishing development
Skin Cancer and Public Health England
Fund
BAD Digital Transformation
Topol Fellowships
Outpatient Transformation		 1 January
2019
£
211,841
18,592
6,991
63,506
141,918
50,000
86,151
70,000
114,000
50,000
11,067
1,500,000
350,000
350,000
400,000
50,000
50,000
50,000
-
-
-
3,574,066		 New
Designations
£
-
-
-
-
65,000
-
-
-
-
-
-
-
-
-
-
500,000
-
50,000
100,000
150,000
100,000
965,000		 Expenditure
in the year

£
(24,586)
(9,716)
-
(43,153)
(53,302)
-
(5,043)
-
(57,545)
-
(10,069)
-
-
-
-
-
-
-
-
-
-
(203,414)		 31 December
2019
£
187,255
8,876
6,991
20,353
153,616
50,000
81,108
70,000
56,455
50,000
998
1,500,000
350,000
350,000
400,000
550,000
50,000
100,000
100,000
150,000
100,000
4,335,652

Education fund

The Education Fund established in 2005 continues to support DermSchool, the Trainee activities and to support and underwrite educational meetings that, by their nature or design, are unlikely to make a large profit. Members can apply for BAD Education Funding for such meetings. The balance at the end of December 2020 was £183,716 (2019: £187,255) and this will be used to develop new educational resources as part of the College project.

Research fund

The research fund was set up to support research as a development activity. Entirely separate to the donation given to the BSF for skin disease research, the fund utilised by the Research Sub-committee to identify ways of promoting research into skin health and disease. UKTREND was established in 2012 as a separate company within the BAD Research Unit with a clear set of objectives and an agreement for the BAD to pay the costs of meetings that will identify the research projects and give some administrative support to enable the groups to seek external funding from industry and the major funding bodies.

Short term strategic fund

In March 2013 the BAD tasked the King’s Fund to look into the challenges facing dermatology services and identify opportunities for the future. The findings of the report were published in April 2015. The project has totalled £92,261 to date with the remaining funds available for publicity and dissemination.

38

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

19. Designated funds (continued)

Quality assurance fund

In 2011 with the introduction of the Health & Social Care Bill there was uncertainty about the future shape of healthcare in the UK the Association designated £150,000 in a Quality Assurance Fund. There have been continual changes to healthcare commissioning since that time so the need for the fund still exists. At 31 December 2020, the balance of the funds stands at £20,353. During 2019, £43,153 was spent obtaining legal advice to successfully challenge professional and commissioning issues.

BAD/BSF/MRC fellowships

In the spring of 2009 the BAD, BSF and MRC agreed to jointly fund four Clinical Training Fellowships. These were made over a three year period with no more than one fellowship awarded in each round.

In October 2014 the BAD, BSF and MRC agreed to further fund one joint fellowship capped at £55,000 and will reconsider on an annual basis whether to fund more fellowships. In 2017 a further £60,000 was added to the fund for another BAD/BSF/MRC joint fellowship.

Organisation review

In view of possible changes to objects of the Association in becoming a College, the Officers agree it to be pragmatic to ring fence £50,000 for an external review of structure and strategy of the organisation for future development.

UK Biologics Eczema Register Year 1

BADBIR has been a great success for British Dermatology putting the UK at the front of psoriasis clinical and translational research. Its aim is to investigate the long-term safety for patients treated with biologic agents, compared with conventional systemic therapy. The register now has over 13,000 patients contributed by 153 dermatology centres and is yielding significant data and publications.

Translational research in atopic eczema has been identified as a key priority by an e-Delphi study carried out by the BAD’s UKTREND initiative. As a result, the BAD have agreed to fund the pilot phase of an Eczema Biologics Register and will provide a grant of circa £200,000 (£70k per annum for three years), with the intention that future funding is sought from industry or major funding bodies. UK academic centres have been invited to bid for the project via the BSF Grants Advisory Committee which will award in July. The Data will be wholly owned by the BAD who will make it available to Academic centres for the purposes of research and teaching. The study will be multicentred at the outset with the potential of expanding to all dermatology departments who wish to contribute. The BAD will utilise its experience at managing industry contracts for the benefit of research projects will be available to register.

In 2017, £140,000 has been designated for the next two years of the project as originally agreed in 2016.

Photo Net type database

Phototherapy is an established low cost outpatient treatment for psoriasis and other inflammatory skin diseases. Predominantly hospital based, it is commonly used prior to considering systemic therapy in those patients for whom topical treatment has proved unsatisfactory. The BAD Officers have agreed to designate £70,000 to build a networked database for the UK based on the Scottish model of Photonet.

UKDCTN – Development Manager, further 2 years

The BAD have already donated £57k to UKDCTN to support a Clinical Trials Manager. In 2017 additional funding was designated to extend the post for another two years. The clinical trials are a collaboration with patients and methodologists across the UK. During the 2-year time period the plan is to focus efforts on three key deliverables: i) working with UK DCTN SpR Trainee groups to develop their study ideas into fundable research proposals; ii) progressing ideas that are submitted via UK DCTN Themed Calls; and iii) developing studies identified as key research uncertainties by clinicians and patients through Priority Setting Partnerships. These projects will deliver tangible outputs that meet the BAD objectives of “stimulating and promoting appropriate medical and scientific research and to publish the results of such research.”

39

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

19. Designated funds (continued)

BAD guideline Development

BAD Clinical Guidelines, using GRADE methodology are recognised as world leading and £50k has been set aside to ensure that we continue to develop our guideline capacity.

Patient engagement hub website

This project will improve public access to research, patient information, and service information through a newly formed Public Education workstream for which £30k has been set aside. This will include expansion of our online presence, beyond acne and psychodermatology, to a web hub for all our public-facing materials, from patient information leaflets to news of NHS changes affecting dermatology.

College Project

The Executive Committee have agreed to designate £1,500,000 for future educational activity, capital projects, legal fees etc in support of developing the British College of Dermatology over the next 5 years.

BAD UK Keratinocyte Cancer Collaborative (UKKCC)

The Executive Committee further agreed to designate a £350,000 to a project that will bring together epidemiologists, clinicians and dermato-pathologists working in the field of keratinocyte cancer to create a collaborative network for clinical epidemiology, tissue banking and molecular pathology initiatives to improve the Keratinocyte Cancer patient outcomes. All proposals for expenditure within this fund will be put through the BAD Research Sub Committee (BADRSC) and subsequently officers for a final decision.

A*Star Eczema Registry – BSF

An eczema register is one of the outcomes of BAD UK TREND. The Executive Committee approved to allocate £350,000 into a designated fund over a 5-year period, for future development of an eczema bio-bank. The data from the Registry would be owned by the BAD and that authors utilising the data would be expected to submit papers to the BJD where appropriate.

BAD Service Standards and Clinical Registries Fund

£400,000 has been ringfenced for the provision of registry platforms for the Service Standards developed by the Clinical Services Department. A procurement process has identified NHS Digital as the trusted provided and contracts are in place.

Willan House refurbishment

Following the purchase of Willan House in 2004, a major refurbishment was undertaken from 2005 to 2008. The Executive concluded that a fund of £50,000 should be set aside for the update of the fabric of the building.

Publishing development

Given the uncertainty around open access and publishing the Executive agreed it would be prudent to set aside a fund of £50,000 for future publishing developments.

Skin Cancer and Public Health England Fund

In May 2019, the Executive approved an allocation of £50,000 for the employment of an analyst appointed and embedded within Public Health England (PHE) to collect and analyse non-melanoma skin cancer data. A steering group made up of Officers, PHE staff and some skin cancer experts also reports into the BADRSC and then to the Officer group.

PSORT

The BAD is a partner in PSORT (Psoriasis Stratification to Optimise Relevant Therapy) which is a prestigious 4 year, £7m MRC and industry funded stratified medicine consortium (one of 13 across all of medicine) involving the key psoriasis researchers in the UK. Its aim is to use clinical, genetic and immune biomarkers to predict and reproducibly stratify response of psoriasis to current and future biologic therapies in a manner that is minimallydosed, scalable and cost-effective.

In 2020 the Executive Committee agreed £130k to fund a further year of the study.

40

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

19. Designated funds (continued)

BAD Digital Transformation

Investment in development of technologies, people and processes that drive the BAD values. This includes funding for initiatives that support the digital enterprise, including cloud, cybersecurity and members experience via the CRM.

Topol Fellowships

The Topol Programme for Digital Fellowships in Healthcare is a HEE initiative which aims to support organisations to invest in clinical staff to develop specialist digital skills and to learn about leading digital transformations. The BAD has ring fenced £150,000 for Topol fellowships in dermatology.

Outpatient Transformation

The NHS Outpatients Restoration and Transformation in Dermatology 2020-21 programme has been put in place to address the need for change in delivery of dermatology outpatient services. The impact of Covid-19 has amplified the need for dermatology outpatient services to take advantage of available technologies and the move to integrated care systems to minimise face to face attendances, increase capacity and improve productivity.

NHS funding of £7.8m will support technology solutions across primary care and the secondary care interface. The BAD fund will enable members the time and resources, outside of their clinical commitments, to ensure that the proposed solutions are fit for purpose and will deliver the required improvements.

20. Allocation of net assets – At 31 December 2020

Group
Restricted funds
Unrestricted funds
Non-charity funds
Charity
Restricted funds
Unrestricted funds		 Fixed
assets
£
-
6,343,396
-
6,343,396
Fixed
assets
£
-
6,343,396
6,343,396		 Net current
assets
£
230,121
5,042,306
7,391,068
12,663,495
Net current
assets
£
230,121
5,042,306
5,272,427		 Long
term
liabilities
£
-
-
(7,328,778)
(7,328,778)
Long
term
liabilities
£
-
-
-		 Total
£
230,121
11,385,702
62,290
11,678,113
Total
£
230,121
11,385,702
11,615,823

41

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

20. Allocation of net assets prior year – At 31 December 2019 (continued)

Group
Restricted funds
Unrestricted funds
Non-charity funds
Charity
Restricted funds
Unrestricted funds		 Fixed
assets
£
-
6,152,252
-
6,152,252
Fixed
assets
£
-
6,152,252
6,152,252		 Net current
assets
£
260,063
4,814,369
5,610,390
10,684,822
Net current
assets
£
260,063
4,814,368
5,074,431		 Long
term
liabilities
£
-
-
(5,552,294)
(5,552,294)
Long
term
liabilities
£
-
-
-		 Total
£
260,063
10,966,621
58,096
11,284,780
Total
£
260,063
10,966,620
11,226,683

21. Cash generated from net income of group operations

Net income
Taxation charged
Depreciation and amortisation
Gains on investments
Investment income
Decrease in debtors
Increase in creditors
Net cash flows from operating activities		 Group
2020
2019
£
£
393,333
882,645
990
-
116,540
115,692
(157,256)
(393,823)
(83,106)
(21,619)
118,830
1,161,719
2,738,521
610,097
3,127,852
2,354,711		 Group
2020
2019
£
£
393,333
882,645
990
-
116,540
115,692
(157,256)
(393,823)
(83,106)
(21,619)
118,830
1,161,719
2,738,521
610,097
3,127,852
2,354,711
2,354,711

22. Related party transactions

During the year the charity charged British Association of Dermatologists Biologics Register Limited, £77,424 (2019: £73,687) in relation to costs incurred on their behalf during the year. At the balance sheet date £115,185 (2019: £10,892) was owed to the charity.

All of the above balances and transactions have been eliminated on consolidation.

There were no further related party transactions (2019: None).

42