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2023-12-31-accounts

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Charity number: 258474

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONTENTS

Page
Reference and administrative details 1
Report of the trustees 2 – 9
Independent auditor’s report 10 – 12
Consolidated statement of financial activities 13
Consolidated and charity balance sheets 14
Consolidated statement of cash flows 15
Notes to the consolidated financial statements 16 - 33

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees President in the Chair (7/22-7/24) Prof. Mabs Chowdhury
President Elect (7/23 -7/24) Dr Tamara Griffiths
Academic Vice President (7/23-7/25) Prof. Mike Ardern-Jones
Clinical Vice President (7/22-7/24) Dr Chris Bower
Education Vice-President (7/23-7/25) Prof. Minal Singh
Honorary Treasurer (7/22-7/25) Professor Nick Levell
Honorary Secretary (7/23-7/25) Dr Thomas Lucke
Asst Honorary Secretary (7/23-7/25) Dr Victoria Swale
Editor BJD (7/19-7/24) Dr John Ingram
North East Representative (7/23-7/26) Dr Sophie Weatherhead
Yorkshire & the Humber Representative (07/23-7/26) Dr Kathryn Thomson
North West Representative (7/21-7/24) Dr John Newsham
East Midlands Representative (7/22-7/25) Dr Rangarajan
Rabindranathnambi
West Midlands Representative (7/22-7/25) Dr Ajoy Bardhan
East of England Representative (7/22-7/25) Dr Marc Wallace
Thames Valley and Wessex Representative (7/22-7/25) Dr Alia Ahmed
North London Representative (7/22-7/25) Dr Gabriela Petrof
South London Representative (7/23-7/26) Prof Jemima Mellerio
South East Coast Representative (7/23-7/26) Dr Saul Halpern
South West Representative (7/22-7/25) Dr Shalini Narayan
N Ireland / Republic of Ireland Representative (7/22-7/24) Dr Nabla McLoone
Scotland Representative (7/23-7/25) Prof. Richard Weller
Wales Representative (7/21-7/24) Dr Natalie Stone
Trainee Representative (7/23-7/25) Dr Mitesh Patel
Senior Leadership Simon Morrison – Chief Executive Officer
Team Nina Goad – Deputy Chief Executive Officer
Catherine Hanaway – Director of Finance
Tania Von Hospenthal – Director of Transformation
Quality Improvement
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
Barbara Mason – Deputy Director of Education
Principal Office Willan House
4 Fitzroy Square
London
W1T 5HQ
Bankers Lloyds TSB Bank plc
Investment Advisors		 Rathbone Brothers Plc
Eastern Branch 8 Finsbury Circus
35 Whitechapel High Street London
London EC2M 7AZ
E1 7PH
Solicitor Mills & Reeve LLP
Botanic House
100 Hills Road
Cambridge
CB2 1PH
Independent RSM UK Audit LLP, Statutory Auditor
auditor Chartered Accountants
Davidson House
Forbury Square
Reading
Berkshire, RG1 3EU

1

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 2023.

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. This vital work is achieved by our various departments below:

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. Fellowships are advertised in the BAD Newsletter and website. The Association also awards a number of undergraduate fellowships which are advertised in medical schools. The Fellowship Committee meets twice a year to judge applications and make the awards.

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.

2

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

ACHIEVEMENT AND PERFORMANCE

Education

The Education team launched the British College of Dermatology Education Hub in Spring 2023. This offers courses and events dedicated to developing the skills and knowledge of dermatologists, GPs, nurses, pharmacists, student trainees and other healthcare professionals. Our Education Faculty continues to grow under the guidance of Education Vice-President, Prof Mini Singh. The vision for the Faculty is to develop clinicians as medical educators and provide high-quality learning and resources for the dermatology workforce. This builds on the excellent foundation of clinicians who are members of our assessor banks for CESR (now Portfolio Pathway) and GPwER accreditation.

We continued to support dermatologists across a range of roles with our development events for SAS doctors, specialist registrars, CESR candidates and training programme directors. Students and foundation-year doctors have been offered masterclasses and networking events in dermatology to attract them to the specialty. We also awarded British College of Dermatology accreditation to a range of training content provided by dermatology groups and education institutions. Future plans include work with undergraduate leads and a post-graduate education forum.

Communications

The Communications team is responsible for external communications including marketing, public relations, social media, and campaigns. We also develop and maintain the BAD websites.

In 2023 we started work on executing our new three-year marketing plan, focused on supporting relevant BAD income sources, key workstreams, and the overall BAD brand.

We ran, or supported, a number of campaigns on key issues in dermatology and the NHS. These included our annual Sun Awareness Week, a joint campaign highlighting shortcomings in Homecare Medicines Services, a media and lobbying campaign regarding shortages of scabies medicines, and our ongoing work with the Inequalities in Health Alliance.

The team has also supported ongoing work by the Retinoids WPG and Officers to highlight urgent issues with the MHRA’s changes to isotretinoin prescribing.

We secured over 900 pieces of news coverage, including national newspaper coverage and broadcast news.

Conferences and Events

Over the course of 2023-24, our Conference and Events team delivered an educational programme of 31 events. Through this work, we have provided CPD updates and education to over 4,190 consultant dermatologists, trainees and other HCPs to enable them to deliver better medical care to the public.

The 103rd Annual Meeting in Liverpool (June 2023) was delivered in an in-person format, with all educational content recorded and available on a post-event virtual platform for 6 months. The meeting received very positive feedback and was attended in total by 1681 delegates, with 240 choosing the virtual-only option. Furthermore, a sold-out exhibition area generated income (approx. £725k) for the BAD to enable us to continue all our strategic activities.

The team worked on the hybrid events model and moved towards a return to in-person events as well as continuing, where required, to host virtual courses. The team also continue to work on improving the sustainability of the BAD events programme.

Publishing

BJD and CED have completed one year of publishing with Oxford University Press (OUP). In 2024, we will transfer Skin Health and Disease (SHD) to OUP.

In 2023, all journals were affected by a change in how the Impact Factor (IF) is calculated. This, as well as the ‘COVID effect’ has contributed to the IF number of our journals being slightly reduced compared with 2022. However, BJD maintained its 3rd rank at 10.3 and CED increased its rank to 14 at 4.1. Both the journals have been doing exceedingly well, but the second rank and third rank are so close that a single impactful paper can make a difference.

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

We rely on our members for their generosity in terms of the time they give to act as reviewers, editors and, importantly, as authors so we can continue to publish the best research and generate income for BAD’s charitable activities – all three journals continue to bring in important income to the BAD.

SHD has achieved an important milestone – indexing on PubMed Central, but the journey for other indexing services continues. The BAD’s seminal book Dermatology Training: The Essentials, mapped to the August 2021 curriculum, continues to be popular with over 1200 copies sold.

Across all three journals, we received a total of 5005 submissions. Submissions to CED (2090) are almost at the same level as BJD (2489) in 2023.

OUP has 65 Read and Publish agreements which cover over 1,100 institutions. BJD and CED have been accessed in over 200 countries worldwide. Additionally, through HINARI authors can access BJD and CED in developing countries.

In 2023, SHD received 426 submissions and has 167,549 views by 2700 institutions worldwide. BJD had 2.53 million views and CED had 898.6K views.

We implemented graphical abstracts in 2023 so that dermatology research is more accessible. We have also ensured that all images on BJD and CED are now searchable, free of charge, to anyone using the ‘images’ option in the advanced search.

We published our guidance for reviewers and received over 800 responses to our peer review survey. Most people were satisfied with our processes, and we are analysing the data further so that we can refine and improve the service we provide to authors, reviewers and editors.

We also published the Historical Sub-Committee’s book, A Biographical History of British Dermatology, which is freely available to BAD members on our website. To access it, log in and follow this link.

Research

The BAD’s Research Sub-Committee now has a revised structure, as we have added subject-specific domains and recruited new members. This new structure will further strengthen and help shape the vision and future direction of BAD’s research workstreams.

Our aim is for the BAD’s Research page to be a hub for all research information. Mapped out to the structure of the Research Sub-Committee, we have launched what we hope is an invaluable resource: Dermatology Research Resources.

The BAD’s commitment to real-world data grows with our existing registers on psoriasis (BADBIR) and eczema (ASTAR), and our three new register projects in HS (H-STRONG), vitiligo (VIRTUAL) and alopecia (GRASS UK).

BAD’s collaboration with the University of Dundee in the form of UKKCC is growing from strength to strength with 8 sites ready to collect samples and 12 in process. This is a national collaborative project involving dermatologists and pathologists and we hope will be a hugely invaluable resource to the community.

BADGEM has been rebranded as the Skin Genetics Group (SGG) with Neil Rajan as the new chair and their focus is on genetic education, in order to promote awareness about rare genetic skin diseases, understanding of pathways to diagnosis, and signpost to new treatments and research opportunities.

The BAD-NDRS partnership has been extended for another 2 years to work on a strategic joint project with TQIU on skin cancer service review; this project will provide invaluable insight to our members and commissioners about geographic variation and important gaps.

Transformation Quality Improvement

The Transformation and Quality Improvement Unit (TQIU), provides advice and support to UK BAD members on service issues, innovation and transformation. The TQIU work with ICB/ICSs, Health Boards, Hospital Trusts, CQC and patient groups, BDNG, PCDS on the provision of dermatology services in the NHS and private practice.

The National Dermatology Referral Management Guideline continues to be updated with new clinical algorithms for skin disease. A new section for pharmacy is being added with clinical algorithms to support the education and OTC management of patients with minor or first aid skin presentations Through the information gathered from two Teledermatology surveys and collation hospital activity data, the TQIU has set up a Teledermatology Service Register. The register identifies the widespread uptake of Teledermatology across services and the different models being used.

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

The TQIU has completed its statistical analysis from its workforce survey undertaken in 2023 to identify dermatology workforce numbers. The results should be published by this summer. Further discussions are ongoing as to the workforce calculations per population as this needs to be updated

The team continues to provide administrative support for the NHSE Specialised Dermatology WPG. The revised dermatology specification is going through the final stage of signoff. The WPG continues to seek clarification on some high-cost drug prescribing arrangements and the policies which have impacted on local departments being able to treat their patients. The BAD continues to look for funding to contribute to the work being undertaken by the NHS Scotland AI Skin Cancer Consortium to help standardize the development of AI. Building a national data pipeline is key to developing apps which are safe for patients.

The NICE accredited Teledermatology and Skin Cancer Service Standards are due for public consultation by June 2024. We have evolved the TEAM-QI tool for MDTs which we are currently piloting with the skin cancer service standards.

We are aware of cultural behavioral issues experienced by many trusts; we are putting out a survey later in the year. We have begun to look at the TEAM-QI (formerly MDT-Fit) tool to support trusts in identifying their cultural behavioral issues which will support departments in need.

Financial Review

The consolidated financial statements include the results of the British Association of Dermatologists Biologics Register (BADBIR), details of which can be found in note 12. For the year ended 31 December 2023, the Association has achieved total consolidated income of £6,714,772 (2022: £7,245,124). Total consolidated expenditure has totalled £6,989,115 (2022: £6,070,319) resulting in an overall consolidated deficit of income over expenditure after gains on investments of £195,428 (2022: surplus of £726,007).

Reserves Policy

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

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 £4.7m (2022: £4.3m). The current level of restricted reserves is £195k (2022: £190k).

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.

Plans for the Future

The BAD previously developed and implemented a new five-year strategy which covers the period from 2021 to 2026, much of our future work will be guided by this strategy. In addition to these, individual departments have targets and objectives which complement and contribute to the overall strategy.

The strategy is structured around three key themes:

Our Transformation Quality Improvement and Clinical Standards Units have led the way on this first point, publishing vital guidelines, patient information, service standards, and countless other resources which help us provide the best possible care for patients.

Our Research Unit, with the Academic VP, has developed and is implementing the new BAD research strategy. The team is already doing a huge amount, running numerous workstreams, registries, events and more.

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

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.)

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 27[th ] June 2023:

Dr Tanya Bleiker Professor Richard Warren Dr Bryan McDonald Dr Maneesha Vatve Dr Rachel Montgomery Dr Pallavi Gupta Dr Gina Kavangh Dr Iqra Ashraf

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

The following Members became trustees on 27[th] June 2023:

Professor Mike Ardern-Jones Professor Minal Singh Dr Victoria Swale Dr Sophie Weatherhead Dr Kathryn Thomson Professor Jemima Mellerio Dr Saul Halpern Professor Richard Weller Dr Mitesh Patel

The trustees are the elected Officers. Appointment of new trustees is governed by the constitution of the charity.

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 (BJD).

The Charity Commission has agreed that the BAD may reimburse the employers of the President, Vice Presidents, Treasurer, 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 practicing within the NHS and therefore have detailed knowledge of all aspects of the specialty of dermatology including training, research and the delivery of patient care. They are elected to office by the membership. They are long-standing Ordinary or honorary 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.

Structure

The charity is based in the UK with its headquarters in London.

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 business of the Association is coordinated by the Officers (President, President-Elect, Clinical Vice President, Academic Vice President, Education Vice President, Honorary Secretary, Assistant Honorary Secretary leading to Honorary Secretary, Honorary Treasurer) 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 exofficio members to provide expert advice on other aspects of dermatology.

The Association continually reviews its Constitution and the structure of the trustee body, having set the Presidential term of office at two years and designed the supportive roles of the Academic Vice President, Education Vice President, and Clinical Vice President 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, Skin Diversity, Therapeutics and Guidelines and Patient Information, Health Informatics, and website development). 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, Publishing and Conferences and Events.

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Key Management Personnel

The trustees consider the board of trustees, the Chief Executive Officer 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. In particular any interests relating to the pharmaceutical industry are fully disclosed by trustees.

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:

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Trustees' responsibilities statement

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

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

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

Auditors

RSM UK Audit LLP has has indicated its willingness to continue in office.

Signed on behalf of the trustees:

……………………………………… Professor N Levell Honorary Treasurer Date:

25/09/24

9

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 2023 which comprise the Group Statement of Financial Activities, the Group and parent charity Balance Sheets, the 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).

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.

10

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 9 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:

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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 and tax legislation. 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:………………………………. 26 September 2024

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

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

General Designated Restricted Total Total
Notes Funds Funds Funds 2023 2022
£ £ £ £ £
Income from:
Investments:
Investment income 2 222,824 - - 222,824 104,070
Charitable activities:
Membership 3 459,661 - - 459,661 418,315
Journals 3 2,382,148 - - 2,382,148 2,864,441
Conferences 3 1,580,898 - 11,024 1,591,922 1,568,922
Education 3 - - - - 10,300
Biologics and Eczema Register 3 1,924,588 - - 1,924,588 1,709,482
Other trading activities 4 133,629 - - 133,629 569,594
Total income 6,703,748 - 11,024 6,714,772 7,245,124
Expenditure on:
Raising funds: 6,565 - - 6,565 6,771
Charitable activities:
Setting standards of service delivery 5 992,100 55,593 - 1,047,693 898,237
Promoting training and education 5 992,100 3,580 - 995,680 927,754
Promoting dermatology research 5 992,100 223,723 - 1,215,823 934,441
Support and representation 5 798,121 303,033 - 1,101,154 896,538
Raise awareness of skin health 5 850,681 - 5,896 856,577 749,925
Biologics and Eczema Register 5 1,765,623 - - 1,765,623 1,656,653
Total expenditure 6,397,290 585,929 5,896 6,989,115 6,070,319
Net gains/(losses) on investments 78,915 - - 78,915 (448,798)
Net income/(expenditure) 385,373 (585,929) 5,128 (195,428) 726,007
Transfers (53,112) 53,112 - - -
Net movement in funds 332,261 (532,817) 5,128 (195,428) 726,007
Fund balances brought
forward 1 January 7,357,365 5,523,189 190,304 13,070,858 12,344,851
Fund balances carried
forward 31 December 7,689,626 4,990,372 195,432 12,875,430 13,070,858

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THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONSOLIDATED AND CHARITY BALANCE SHEETS

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Intangible assets
10
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Current asset investments
14
Creditors:amounts falling
due within one year
15
Net current assets
Creditors:amounts falling due after
more than one year
16
Net assets
Funds
Fixed asset reserve
20
General reserves
20
Restricted funds
20
Designated funds
20
Non-charity funds
20		 Group
2023
2022
£
£
74,613
105,293
2,897,696
2,994,606
3,432,791
3,267,810
6,405,100
6,367,709
3,667,823
3,912,711
11,889,844
12,893,790
5,000,000
3,000,000
20,557,667
19,806,501
(5,192,122)
(4,872,206)
15,365,545
14,934,295
(8,895,215)
(8,231,146)
12,875,430
13,070,858
2,972,309
3,099,899
4,639,477
4,188,524
195,432
190,304
4,990,372
5,523,189
77,840
68,942
12,875,430
13,070,858		 Charity
2023
2022
£
£
74,613
105,294
2,897,696
2,994,605
3,432,791
3,267,810
6,405,100
6,367,709
2,824,440
3,194,792
2,440,018
3,992,277
5,000,000
3,000,000
10,264,458
10,187,069
(3,829,868)
(3,477,377)
6,434,590
6,709,692
-
-
12,839,690
13,077,401
2,972,309
3,099,899
4,681,577
4,264,009
195,432
190,304
4,990,372
5,523,189
-
-
12,839,690
13,077,401

The financial statements were approved and signed on behalf of the Board by:

…… ~~…~~ ……………………….. Professor N Levell Date:

25/09/24

The notes on pages 16 to 33 form part of these financial statements.

14

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

Notes 2023 2022
£
£
Cash flows from operating activities 21 860,453 1,974,790
Interest received 222,824 104,070
Net cash flow generated from operating activities 1,083,277 2,078,860
Cash flow from investing activities
Purchase of intangible fixed assets - (22,057)
Purchase of tangible fixed assets (1,157) (2,448)
Purchase of fixed and current asset investments (2,086,066) (1,056,597)
Net cash flow used in investing activities (2,087,223) (1,081,102)
Net (decrease)/increase in cash and cash equivalents (1,003,946) 997,758
Cash and cash equivalents at 1 January 12,893,790 11,896,032
Cash and cash equivalents at 31 December 11,889,844 12,893,790
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT
(Decrease)/increase in cash in the period / change in net debt (1,003,946) 997,758
Net debt at 1 January 12,893,790 11,896,032
Net debt at 31 December 11,889,844 12,893,790
Cash and cash equivalents consists of:
Cash at bank and in hand 11,889,844 12,893,790

15

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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 £1. 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 2023 as well as the current and expected cash and reserves position. 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 two wholly owned subsidiary, British Association of Dermatologists Biologics Register Limited and British Association of Dermatologists Eczema 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 two 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.

16

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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

17

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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.

18

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Treatment of Surpluses in British Association of Dermatologists Biologics Register Limited and British Association of Dermatologists Eczema 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, BADERL 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 2023 2022
£ £
Interest receivable 222,824 104,070
3.
Charitable activities
Membership
Journals
Conferences
Education
Biologics and Eczema Register		 General

Funds
£
459,661
2,382,148
1,580,898
-
1,924,588
6,347,295		 Restricted
Funds
£
-
-
11,024
-
-

11,024		 Total
2023
£
459,661
2,382,148
1,591,922
-
1,924,588
6,358,319		 Total
2022
£
418,315
2,864,441
1,568,922
10,300
1,709,482
6,571,460

Of the total charitable income received for the year to 31 December 2022 £nil was attributable to restricted funds and £6,571,460 to unrestricted funds.

19

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

4.
Other trading activities
Recharged expenses
Recharged salaries
Room hire
BCD Income
Advertising – BAD newsletter
Advertising & promotions
Communications Campaigns
Specialty Certificate Examination
Skin Health and Disease Journal
Sundry income		 Unrestricted
Total
Total
2023
2022
£
£
-
254,971
-
164,636
31,275
30,660
24,615
9,703
18,992
23,835
3,350
3,450
-
31
51,837
39,184
-
43,124
3,560
-
133,629
569,594		 Unrestricted
Total
Total
2023
2022
£
£
-
254,971
-
164,636
31,275
30,660
24,615
9,703
18,992
23,835
3,350
3,450
-
31
51,837
39,184
-
43,124
3,560
-
133,629
569,594
569,594
5.
Expenditure
Charitable activities:
Setting standards of service
delivery
Promoting training and education
Promoting dermatology research
Support and representation
Raise awareness of skin health
Biologics and Eczema Register		 Indirect
Staff
Direct
Costs
Support
costs
Total
costs
(note 7)
2023
£
£
£
£
404,415
443,551
199,727
1,047,693
404,415
391,538
199,727
995,680
404,415
611,681
199,727
1,215,823
404,415
497,012
199,727
1,101,154
404,415
199,875
252,287
856,577
20,299
1,677,043
68,281
1,765,623
2,042,374
3,820,700
1,119,476
6,982,550		 Total
2022
£
898,237
927,754
934,441
896,538
749,925
1,656,653
6,063,548

Of the total expenditure for the year to 31 December 2022, £22,297 was attributable to restricted funds, £401,370 to unrestricted designated funds and £5,639,881 to unrestricted funds.

6. Grants and donations
Grants and donations
Included within direct costs above are the following grant payments:
Institutions
Individuals		 2023
£
323,357
107,392
430,749		 2022
£
484,286
47,403
531,689

20

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

6.
Grants and donations (continued)
Grants of over £1,000 were paid to institutions are as follows:
British Skin Foundation
British Society for Dermatological Surgery
UKDCTN
British Skin Foundation small grants
Kings College
Queen Mary University
Clinical trials manager
Herpes Virus Association
PEM Friends
ISID 2
Eczema Outreach Support
Ichthyosis support group
Gorlin Syndrome Group
Lymphoedema support
Lupus UK
Ectodermal Dysplasia Society
Action for XP
BSSCII
BSSVD SIG Fund
Vitiligo Society
PSG Expenditure*
EDF
Grants < £1,000
Grants of over £1,000 were paid to individuals as follows:
Intercalated Degree Grant
Dermatology Education Bursary
Global Dermatology Bursary
BAD/BSF/MRC Fellowship
Geoffrey Dowling Fellowship
Consultant Sabbatical Fellowship
M Charalambides Study Fellowship
Hannah Wainman Study
Henry Grantham
Roger Harman
Grants < £1,000		 2023
£
200,000
-
53,112
29,988
4,762
-
-
-
-
2,000
1,020
6,933
2,940
3,000
2,190
1,000
1,000
4,037
10,000
(2,500)
(2,042)
5,000
917
323,357
2023
£
6,000
5,000
5,000
-
25,000
20,000
-
3,750
21,667
5,280
15,695
107,392		 2022
£
400,000
30,000
-
-
6,878
5,340
21,068
1,890
1,620
-
-
-
-
-
-
-
-
-
-
-
10,892
5,000
1,598
484,286
2022
£
6,000
-
-
5,417
-
20,000
3,750
-
-
-
12,236
47,403

*Included within Vitiligo Society is a refund of £2,500 relating to a prior year grant.

**Included within PSG expenditure is a refund of £10,892 relating to a prior year grant.

21

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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		 2023
£
11,339
38,213
3,718
61
128,748
17,839
89,279
160,990
182,762
447,577
38,950
1,119,476		 2022
£
11,191
25,396
2,723
-
143,447
34,583
95,071
152,217
128,798
210,642
41,050
845,118

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)
- for audit (BADERL)
Auditor’s non-audit services for the group
- Other services
- Taxation compliance
Total excluding VAT
9.
Staff Costs
Salaries and wages
Social security costs
Other pension costs		 2023
£
18,450
6,150
6,150
9,025
3,700
43,475
2023
£
1,958,245
205,357
103,161
2,266,763		 2022
£
17,750
5,750
5,750
8,300
3,500
41,050
2022
£
1,610,275
176,128
87,802
1,874,205

The average monthly number of employees during the year was 45 (2022: 41). This included 1 member of staff in the British Association of Dermatologists Biologics Register (2022: 1).

1 employee earned emoluments between £60,001 and £70,000 during the year (2022: 1), 4 employees between £70,001 and £80,000 (2022: 5), 2 employees between £80,001 and £90,000 (2022: 1) and 1 employee between £90,000 and £100,000 (2022: nil).

22

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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 £771,432 (2022: £638,880).

None of the Trustees received any remuneration during the year (2022: £nil) for services as a trustee. During the year, no (2022: 7) trustees received remuneration for their services to the charity (2022: £188,519). The payments were paid directly to the Trustees employer as compensation for their time given to the charity.

Travelling and accommodation expenses of £17,638 (2022: £18,762) were reimbursed to 12 (2022: 25) Trustees and committee members.

10. Intangible fixed assets

Group and charity
Cost
As at 1 January 2023 and 31 December 2023
Amortisation
As at 1 January 2023
Charge for year
As at 31 December 2023
Net Book Value
At 31 December 2023
At 31 December 2022		 Website
development
costs
£
352,336
247,043
30,680
277,723
74,613
105,293

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

11.
Tangible fixed assets
Group and charity
Cost
As at 1 January 2023
Additions
As at 31 December 2023
Depreciation
As at 1 January 2023
Charge for year
As at 31 December 2023
Net Book Value
At 31 December 2023
At 31 December 2022		 Freehold
property
£
4,574,231
-
4,574,231
1,603,269
91,483
1,694,752
2,879,479
2,970,962		 Computer
equipment
£
339,256
1,157
340,413
324,525
4,555
329,080
11,333
14,731		 Office
equipment
and
furniture
£
235,290
-
235,290
226,377
2,029
228,406
6,884
8,913		 Total
£
5,148,777
1,157
5,149,934
2,154,171
98,067
2,252,238
2,897,696
2,994,606

The freehold property is used for direct charitable purposes.

23

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

12.
Fixed asset investments
Group and charity
Market Value at 1 January
Additions
Change in market value
Market value at 31 December
Cost at 31 December		 2023
£
3,267,810
86,066
78,915
3,432,791
3,031,230		 2022
£
3,646,082
70,526
(448,798)
3,267,810
2,945,523

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 undertakings:

The subsidiary undertaking, a company limited by guarantee, is the British Association of Dermatologists Eczema Register, the principal activity of which is the running of the British Association of Dermatologists Eczema Register. The registered office is 4 Fitzroy Square, London, W1T 5HQ, and company number 11491107. 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
Surplus before tax
Balance Sheet
Debtors
Creditors: Amounts falling due within one year
Net current assets/(liabilities)
Creditors: Amounts falling due after more than one year
Net liabilities		 Year to 31
Dec 2023
£
502,387
(375,317)
127,070
(93,685)
33,385
2023
£
1,157,464
(800,405)
357,059
(399,159)
(42,100)		 Year to 31
Dec 2022
£
330,080
(315,854)
14,226
(47,611)
(33,385)
2022
£
834,493
(909,978)
(75,485)
-
(75,485)

24

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

12. Fixed asset investments (continued)

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
Surplus before tax
Taxation
Retained surplus
Balance Sheet
Debtors
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		 Year to 31
Dec 2023
£
1,422,201
(1,301,726)
120,475
(120,475)
9,970
9,970
(1,072)
8,898
2023
£
653,227
9,449,826
10,103,053
(1,529,157)
8,573,896
(8,496,056)
77,840		 Year to 31
Dec 2022
£
1,379,402
(1,270,981)
108,421
(108,421)
5,542
5,542
(298)
5,244
2022
£
956,378
8,901,513
9,857,891
(1,557,803)
8,300,088
(8,231,146)
68,942

At 31 December 2023 the charity had a further 2 subsidiaries. These are:

The British College of Dermatology, company number 11704655 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 2023 and therefore are exempt from audit by virtue of Section 476A of the Companies Act 2006.

25

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

13. Debtors Group Group Charity
2023 2022 2023 2022
£ £ £ £
Trade debtors 2,154,050 2,013,135 1,580,796 1,405,331
Other debtors 153,507 1,401,063 153,507 1,401,063
Prepayments and accrued income 1,360,266 498,513 956,290 149,937
Amounts owed by group companies - - 133,847 238,461
3,667,823 3,912,711 2,824,440 3,194,792
14. Current asset investments Group Charity
2023 2022 2023 2022
£ £ £ £
Under 1 year to maturity
Investments held 5,000,000 3,000,000 5,000,000 3,000,000
5,000,000 3,000,000 5,000,000 3,000,000
All investments are carried at their fair value and represent cash held in deposit accounts.
15. Creditors:amounts falling due Group Charity
within one year
2023 2022 2023 2022
£ £ £ £
Trade creditors 246,598 282,185 246,598 240,933
Other creditors 1,479,638 730,703 562,590 730,703
Other taxation and social security 498,092 406,933 322,324 167,079
Accruals and deferred income 2,967,794 3,452,385 1,864,892 1,504,169
Amounts owed to group companies - - 833,464 834,493
5,192,122 4,872,206 3,829,868 3,477,377
Deferred income:
Deferred income at 1 January 2,374,631 1,045,962 405,188 250,783
Release from previous years (2,374,631) (1,045,962) (405,188) (250,783)
Amounts deferred in the year 2,058,595 2,374,631 1,141,551 405,188
Deferred income at 31 December 2,058,595 2,374,631 1,141,551 405,188

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

26

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

16. Creditors:amounts falling due Group Charity
after one year 2023 2022 2023 2022
£ £ £ £
Other creditors 8,895,215 8,231,146 - -
17. Retirement benefit schemes
Group Charity
Defined contribution schemes 2023 2022 2023 2022
£ £ £ £
Charge to statement of financial activities
in respect of defined contribution
schemes		 92,393 87,802 92,393 87,802
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.
18. Restricted funds
1 January Income Expenditure Transfers 31 December
Group and charity 2023 2023
£ £ £ £ £
Betty Parkes Fund 12,500 - - - 12,500
eLFH-Dermatology 139,291 - (5,317) - 133,974
THESIS Fund 33,725 - (579) - 33,146
Teledermaratology 4,788 11,024 - - 15,812
190,304 11,024 (5,896) - 195,432
Restricted funds - prior year
1 January Income Expenditure Transfers 31 December
Group and charity 2022 2022
£ £ £ £ £
Betty Parkes Fund 20,890 - (8,390) - 12,500
eLFH-Dermatology 151,184 - (11,893) - 139,291
THESIS Fund 35,739 - (2,014) - 33,725
Teledermaratology 4,788 - - - 4,788
212,601 - (22,297) - 190,304

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.

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.

27

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

18. Restricted funds (continued)

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.

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
BAD Digital Transformation
Topol Fellowships
Outpatient Transformation
Research Fund 2022
Journal Transition Fund		 1 January 2023
£
170,091
3,392
-
4,097
165,738
50,000
4,957
42,800
35,386
50,000
111
1,395,451
330,000
350,000
400,000
538,900
50,000
9,535
73,359
49,372
100,000
900,000
800,000
5,523,189		 Expenditure
in the year
£
(3,469)
(3,392)
-
(1,835)
(26,429)
-
-
-
(53,112)
-
(111)
(303,033)
(157,684)
-
-
-
-
(9,535)
(27,329)
-
-
-
-
(585,929)		 Transfers
£
-
-
-
-
-
-
-
-
53,112
-
-
-
-
-
-
-
-
-
-
-
-
-
-
53,112		 31 December 2023
£
166,622
-
-
2,262
139,309
50,000
4,957
42,800
35,386
50,000
-
1,092,418
172,316
350,000
400,000
538,900
50,000
-
46,030
49,372
100,000
900,000
800,000
4,990,372

28

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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
PSORT
BAD Digital Transformation
Topol Fellowships
Outpatient Transformation
Research Fund 2023
Journal Transition Fund		 1 January 2022
£
177,266
3,392
6,991
14,477
118,373
50,000
4,957
42,800
56,454
50,000
111
1,497,150
330,000
350,000
400,000
545,165
50,000
67,329
65,000
88,002
149,083
100,000
-
-
4,166,550		 Expenditure
in the year
£
(7,175)
-
-
(10,380)
(17,635)
-
-
-
(21,068)
-
-
(101,699)
-
-
-
(6,265)
-
(57,794)
(65,000)
(14,643)
(99,711)
-
-
-
(401,370)		 Transfers
-
-
(6,991)
-
65,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
900,000
800,000
1,758,009		 31 December
2022
£
170,091
3,392
-
4,097
165,738
50,000
4,957
42,800
35,386
50,000
111
1,395,451
330,000
350,000
400,000
538,900
50,000
9,535
-
73,359
49,372
100,000
900,000
800,000
5,523,189

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 2023 was £166,622 (2022: £170,091) 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 remaining funds have since been fully utilised.

29

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023, the balance of the funds stands at £2,262 (2022: £4,097).

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.”

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.

30

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

19. Designated funds (continued)

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. A further £500,000 was added to the fund in 2020.

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.

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.

31

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

19. Designated funds (continued)

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.

Research Fund 2023

The BAD’s research objective is to influence and foster collaborative skin specific research for the benefit of all. In March 2022 a research strategy day was organised with the theme ‘Research is everyone’s business’. The BAD's Officers and leading research stakeholders discussed the future direction of the organisation's research and developed a set of recommendations. The main consensus was the need to increase capacity for research. To enable this, in October 2022 the Executive approved £300k of reserves be allocated each year for the next three years to a designated fund explicitly for research.

Journal Transition Fund

In 2021, after an extensive tender process, the BAD switched its journal publishing partner to Oxford University Press (OUP). As part of the move, the BAD received a one-off signing bonus of £800k from OUP. There are anticipated changes in income and potential costs relating to all the activities within journal publishing, therefore, this has been set aside as a designated fund to support the transition and development of all the journals in its early years with the new publisher.

20. Allocation of net assets – At 31 December 2023

Group
Restricted funds
Unrestricted funds
Non-charity funds
Charity
Restricted funds
Unrestricted funds		 Fixed
assets
£
-
6,405,100
-
6,405,100
Fixed
assets
£
-
6,405,100
6,405,100		 Net current
assets
£
195,432
6,197,058
8,973,055
15,365,545
Net current
assets
£
195,432
6,239,158
6,434,590		 Long
term
liabilities
£
-
-
(8,895,215)
(8,895,215)
Long
term
liabilities
£
-
-
-		 Total
£
195,432
12,602,158
77,840
12,875,430
Total
£
195,432
12,644,258
12,839,690

32

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

20. Allocation of net assets prior year – At 31 December 2022 (continued)

Group
Restricted funds
Unrestricted funds
Non-charity funds
Charity
Restricted funds
Unrestricted funds		 Fixed
assets
£
-
6,367,709
-
6,367,709
Fixed
assets
£
-
6,367,709
6,367,709		 Net current
assets
£
190,304
6,443,903
8,300,088
14,934,295
Net current
assets
£
190,304
6,519,388
6,709,692		 Long
term
liabilities
£
-
-
(8,231,146)
(8,231,146)
Long
term
liabilities
£
-
-
-		 Total
£
190,304
12,811,612
68,942
13,070,858
Total
£
190,304
12,887,097
13,077,401

21. Cash generated from net income of group operations

Net (expenditure)/income
Depreciation and amortisation
(Gain)/loss on investments
Investment income
Decrease/(increase) in debtors
Increase in creditors
Net cash flows from operating activities		 Group
2023
2022
£
£
(195,428)
726,007
128,747
143,447
(78,915)
448,798
(222,824)
(104,070)
244,888
(1,326,314)
983,985
2,086,922
860,453
1,974,790		 Group
2023
2022
£
£
(195,428)
726,007
128,747
143,447
(78,915)
448,798
(222,824)
(104,070)
244,888
(1,326,314)
983,985
2,086,922
860,453
1,974,790
1,974,790

22. Related party transactions

During the year the charity charged British Association of Dermatologists Biologics Register Limited £81,152 (2022: £86,512) in relation to costs incurred on their behalf during the year. At the balance sheet date £133,847 (2022: £238,461) was owed to the charity.

During the year the charity collected income on behalf of British Association of Dermatologists Eczema Register Limited totalling £502,387 (2022: £330,080) and paid costs of their behalf of £469,002 (2022: £363,465). At the balance sheet date £833,464 (2022: £834,493) was owed by the charity.

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

There were no further related party transactions in the current or prior year.

33