OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-12-31-accounts

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Charity number: 258474

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONTENTS

Page
Reference and administrative details 1 – 2
Report of the trustees 3 – 11
Independent auditor’s report 12 – 14
Consolidated statement of financial activities 15
Consolidated and charity balance sheets 16
Consolidated statement of cash flows 17
Notes to the consolidated financial statements 18 - 35

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

President (7/24-7/26) President Elect (7/25-7/26) Immediate Past President (7/24-7/25) Academic Vice President (7/23-7/25) Academic Vice President (7/25-7/27) Clinical Vice President (6/24-7/26) Education Vice President (6/23-7/26) Honorary Treasurer (7/22-7/25) Honorary Treasurer (7/25-7/28) Honorary Secretary (7/23-7/25) Honorary Secretary (7/25-7/27) Asst Honorary Secretary (6/23-7/25) Asst Honorary Secretary (7/25-7/27) Editor BJD (6/24-7/29)

North East Representative (6/23-7/26) Yorkshire & the Humber Representative (6/23-7/26) North West Representative (6/24-7/27) East Midlands Representative (7/22-7/25)

East Midlands Representative (7/25-7/28) West Midlands Representative (7/22-7/25) West Midlands Representative (7/25-7/28) East of England Representative (7/22-7/25) East of England Representative (7/25-7/28) Thames Valley & Wessex Representative (1/25-7/27) South London Representative (6/23-7/26) South East Coast Representative (6/23-7/26) South West Representative (7/22-7/25) South West Representative (7/25-7/28) North London Representative (7/22-7/25) North London Representative (7/25-7/28) Wales Representative (6/24-7/27) Scotland Representative (6/23-7/27) Republic of Ireland & N Ireland Representative (6/24-7/27) Trainee Representative (7/23-7/25) Trainee Representative (7/25-7/27)

Dr Tamara Griffiths Dr Anshoo Sahota Prof. Mabs Chowdhury Prof. Mike Ardern-Jones Prof. John Lear Dr Carolyn Charman Prof. Minal Singh Professor Nick Levell Dr Simon Tso Dr Thomas Lucke Dr Victoria Swale Dr Victoria Swale Dr Graham Johnston Prof. John McGrath

Dr Sophie Weatherhead Dr Kathryn Thomson Dr Amy Foulkes Dr Rangarajan Rabindranathnambi Dr Harriet O’Neill Dr Ajoy Bardhan Prof. Viktoria Eleftheriadou Dr Marc Wallace Dr Pamela Todd Dr Inge Kreuser-Genis Prof Jemima Mellerio Dr Saul Halpern Dr Shalini Narayan Dr Helen Frow Dr Gabriela Petrof Dr Nasim Rouhani Dr Richard Goodwin Prof. Richard Weller Dr Elizabeth McMullen Dr Mitesh Patel Dr Manpreet Sagoo

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 and Improvement Dr M. Firouz Mohd Mustapa – Director of Clinical Standards Christopher Garrett – Director of Conference and Event Services Shehnaz Ahmed – Director of Publishing and Research Matt Gass – Director of Communications Barbara Mason – Director of Education

1

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REFERENCE AND ADMINISTRATIVE DETAILS

Principal Office Willan House
4 Fitzroy Square
London
W1T 5HQ
Bankers Lloyds Bank plc
Eastern Branch
35 Whitechapel High Street
London
E1 7PH
Investment Advisors Rathbone Brothers Plc
8 Finsbury Circus
London
EC2M 7AZ
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

2

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 2024.

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.

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.

3

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

ACHIEVEMENT AND PERFORMANCE

Education

During 2024, our Education team, working with clinicians and our Faculty fellows, increased the content on our British College of Dermatology Education Hub. The Hub now has 53 interactive online courses and videos, including a referral series for GPs and a series for community pharmacists. Over 2,500 unique users accessed the Hub, with an average impact rating of 89% and a net promoter score of 55.

We delivered 8 tailored events to a range of audiences, from SAS and foundation doctors to educators and portfolio pathway candidates. Our relaunched scholarships and awards programme now offers six categories for funded education, research and professional development activities.

Our accreditation services achieved impressive outcomes with 39 successful GPwER candidates, 29 successful portfolio pathway candidates and 10 external courses awarded accreditation approval from the British College of Dermatology. In collaboration with our special interest groups, we oversaw the successful assessment of seven post-CCT fellowship candidates in Mohs and advanced dermatological surgery and Hair and scalp disorders. New sites were approved for Advanced Medical Dermatology and Photodermatology.

Clinical Standards

The Clinical Standards team is responsible for a wide range of workstreams, including the development and maintenance of BAD clinical guidelines and patient information leaflets (PILs), and supporting the BAD’s national clinical audit programme.

A total of 20% of the top 100 most accessed British Journal of Dermatology (BJD) articles (of any type) in 2024 consisted of BAD guidelines, with one appearing in the top 10, and four more in the top 30. Two BAD guidelines were published officially in the BJD (on managing people with Behçets – co-badged with the British Society for Rheumatology – and alopecia areata), both of which are ‘living’ guidelines, where annual updates are anticipated following two scheduled ≤6-monthly literature surveillance cycles following publication of each living iteration.

Work on BAD PILs continues, with 37 PILs having been updated and 9 new PILs published in 2024.

We supported the National Audit Sub-Committee in conducting the national clinical audit on managing people with bullous pemphigoid. We also supported the Therapy & Guidelines Sub-Committee with numerous NICE technology appraisal and guideline consultations.

Throughout 2024, we supported the BAD’s Retinoids Working Party Group and Officers with isotretinoin-related work with the MHRA and CHM. Our team also supported the BAD Medicines Working Party Group in dealing with and attempting to find solutions for medicines shortages and discontinuations. Further, we provided assistance to the Dupilumab Ocular Complications Working Party Group in publishing the cross-specialty (in collaboration with the Royal College of Ophthalmologists), UK expert consensus guidance on managing people with ocular surface disorders as a result of dupilumab therapy for their atopic eczema. The Clinical Standards team worked closely with the Topical Steroid Withdrawal (TSW) Working Party Group with the aim of producing an expert consensus guidance on diagnosing and managing TSW, a PIL on TSW and reviewing the joint statement with the National Eczema Society, where necessary. Communications

The Communications team is responsible for external communications, including press work, policy influencing, social media, and strategic communications campaigns. We also develop, create content for, and maintain the BAD website and the Patient Hub.

Through our proactive and reactive media work, our press releases and experts’ comments secured over 800 pieces of news coverage, from national newspapers and broadcast news, to international news outlets.

On the social media front, we transitioned away from Twitter/X but saw almost a 40% increase in LinkedIn followers and engagement throughout the year. Our Annual Meeting social media campaign was very successful and received great feedback.

In 2023, we developed and launched a marketing strategy for the BAD. In 2024, we successfully delivered on all aspects of the strategy for the year.

4

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

The team has continued to support the ongoing work of the Isotretinoin Taskforce in raising urgent concerns about the MHRA’s changes to isotretinoin prescribing. This has included supporting the development of the isotretinoin report submitted for review by the CHM and MHRA and subsequent presentations.

As part of our ongoing advocacy for members, the Communications team began work in 2024 on a comprehensive report exploring the potential of AI diagnostic tools in dermatology. This is due to launch in Q2 of 2025.

Conferences and Events

Over the course of 2024-25, our Conference and Events team delivered an educational programme of 30 events. Through this work, we have provided CPD updates and education to over 6,10 consultant dermatologists, trainees and other HCPs to enable them to deliver better medical care to the public.

The 104th Annual Meeting in Manchester (July 2024) 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 1951 delegates, with 213 choosing the virtual-only option. Furthermore, a sold-out exhibition area generated income (approx. £915k) 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 two years of publishing with Oxford University Press (OUP). In 2024, we also transferred Skin Health and Disease (SHD) to OUP. In terms of impact factor, BJD continued to maintain its 3rd rank at 11 IF, and CED’s rank decreased to 18 at 3.7 IF – not unusual for an educational journal.

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.

2024 was a profitable year for our journals: BAD returned a profit of £1.8 million for BJD and CED, marking a 12.5% increase. SHD returned a modest profit of £48K. Across all three journals, we received a total of 5,960 submissions, a 19% increase from 2023. BJD had nearly 4 million views, with CED and SHD amassing 339.4K and 182.5K views, respectively.

OUP currently has over 75 Read and Publish agreements covering over 1,300 institutions. BJD is available to over 4000 and CED to over 2,200 medical and scientific libraries worldwide. Additionally, through HINARI authors can access BJD and CED in developing countries and there are special waivers in place for low- and middle-income countries for SHD.

The BAD’s seminal book Dermatology Training: The Essentials, mapped to the August 2021 curriculum, continues to be popular with over 1400 copies sold.

Our journal editors shared their visions for the three journals in the Key Plenary session at the 2024 Annual Meeting, accompanied by an online workshop on “How to Peer Review”, which we are looking forward to repeating in-person this year. We are grateful to the community of authors, editors and reviewers without whom the journals would not maintain their standard.

Research

The revised structure of the BAD’s Research Sub-Committee was successfully embedded over the past year, with the addition of qualitative analysis enhancing its scope and impact. Communication efforts to promote research remained strong, with the publication of two dedicated blogs and at least three research-related articles featured in the BAD Newsletter.

The Research Team supported two major training opportunities: the Research Techniques Course and the BAD Research Course (BSID/UK DCTN/THESIS), helping to strengthen research capacity across the dermatology community.

5

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

Our commitment to real-world data continues through robust registry activity. The British Association of Dermatologists Biologic and Immunomodulators Register (BADBIR) has surpassed 22,000 registrants across 167 centres, while the A-STAR eczema register now includes over 1,000 patients at 50 sites. We also advanced three new registry initiatives: H-STRONG (hidradenitis suppurativa), VIRTUAL UK (vitiligo), and GRASS UK (alopecia). All three have received ethical approval, with platform builds completed for H-STRONG and VIRTUAL UK.

The UK Keratinocyte Cancer Collection (UKKCC) expanded to ten participating sites. This national collaborative effort, involving dermatologists and pathologists, aims to create an invaluable resource for future skin cancer research.

The Skin Genetics Group (SGG) continued to lead on education and awareness of rare genetic skin conditions. SGG were part of the Genomics for Dermatology Course and received support through BAD funding. The group has worked to improve understanding of diagnostic pathways and increase access to new treatments and research opportunities.

The Skin Health Working Party Group, established in 2024, initiated a new Consortium aimed at promoting skin health and preventing disease through high-quality, collaborative research.

Finally, the BAD’s partnership with the National Disease Registration Service (NDRS) has been extended until December 2025. The team is collaborating with the TQIU on a comprehensive review of skin cancer services. The first section of the report has been completed, with the second due by the end of 2025. This work is expected to be a valuable resource for future service planning and policy.

Transformation Quality Improvement

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

The team continues to provide administrative support for the NHSE Specialised Dermatology WPG, chaired by Dr Tanya Bleiker, which published the revised dermatology specification in August 2024. 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 Teledermatology and Skin Cancer Service Standards were published in December 2024. We intend to begin the development of the Paediatric Service Standards later this year.

The Teledermatology WPG created a survey titled “Teledermatology Skin Lesion Pathway Management Survey.” This survey aims to examine the widespread adoption of teledermatology for skin lesion management across departments. The results will help assess the overall impact of teledermatology on our skin cancer pathways, evaluating both the benefits and drawbacks of its implementation. The data collated will be used to help further develop the Teledermatology Service Register set up by the TQIU and will be included within a report on the adoption of teledermatology across England.

The TQIU are preparing a joint consensus consultation with the RCGP on skin cancer lesion referral forms and standardisation of the information provided. The TQIU are also in the process of developing consensus skin cancer pathway guidance with the NHS Skin Cancer CRG stakeholders, chaired by Dr Stephen Keohane. This will follow the NICE process for producing Visual Summaries.

Financial Review

The consolidated financial statements include the results of BAD together with its two subsidiaries, the British Association of Dermatologists Biologics Register and the British Association of Dermatologists Eczema Register Limited, details of which can be found in note 12. For the year ended 31 December 2024, the Association has achieved total consolidated income of £7,537,293 (2023: £6,714,772). Total consolidated expenditure has totalled £7,302,136 (2023: £6,989,115) resulting in an overall consolidated surplus of income over expenditure after gains on investments of £470,394 (2024: deficit of £195,428).

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).

6

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

The current level of general reserves (unrestricted reserves less fixed assets reserves less designated funds) is £5.2m (2023: £4.7m). The current level of restricted reserves is £192k (2023: £195k).

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 continues to be guided by its comprehensive five year strategy, developed and launched in 2021 and running through to 2026. This strategic framework shapes much of our future work, ensuring alignment across the organisation. In addition to the overarching strategy, individual departments have established their own objectives and targets that complement and contribute to our collective goals.

A dedicated Strategy Day is scheduled for early 2026, where we will review progress and begin shaping the next five-year strategic plan.

Strategic Priorities

Our current strategy is built around three core themes:

Significant progress has already been made across these areas:

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:

7

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

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 26[th ] June 2024:

Dr Chris Bower Dr John Ingram Dr John Newsham Dr Alia Ahmed Dr Natalie Stone

The following members became trustees on 26[th] June 2024:

Dr Amy Foulkes Dr Carolyn Charman Dr Richard Goodwin Prof. John McGrath Dr Elizabeth McMullen

The following member became trustee on 6[th] January 2025:

Dr Inge Kreuser-Genis

The following trustees completed their terms of office on 1 July 2025:

Prof. Mabs Chowdhury Prof. Mike Ardern-Jones Professor Nick Levell Dr Thomas Lucke Dr Rangarajan Rabindranathnambi Dr Ajoy Bardhan Dr Marc Wallace Dr Shalini Narayan Dr Gabriela Petrof Dr Mitesh Patel

The following members became trustees on 1 July 2025: Dr Anshoo Sahota Prof. John Lear Dr Simon Tso Dr Graham Johnston Dr Harriet O’Neill Prof. Viktoria Eleftheriadou Dr Pamela Todd Dr Helen Frow Dr Nasim Rouhani Dr Manpreet Sagoo

8

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

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.

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.

9

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

REPORT OF THE TRUSTEES

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:

10

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:

……………………………………… Dr Simon Tso Honorary Treasurer Date: 23/10/25

11

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 2024 which comprise the Group Statement of Financial Activities, the Group and parent charity Balance Sheets, the Group 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.

12

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 11 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:

13

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 and income recognition as the areas 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 and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates, and test of details over income.

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 29 October 2025 Date:……………………………….

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

14

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

General Designated Restricted Total Total
Notes Funds Funds Funds 2024 2023
£ £ £ £ £
Income from:
Investments:
Investment income 2 396,612 - - 396,612 222,824
Charitable activities:
Membership 3 508,002 - - 508,002 459,661
Journals 3 2,316,085 - - 2,316,085 2,382,148
Conferences 3 1,803,415 - 4,356 1,807,771 1,591,922
Biologics and Eczema Register 3 2,315,635 - - 2,315,635 1,924,588
Other trading activities 4 193,188 - - 193,188 133,629
Total income 7,532,937 - 4,356 7,537,293 6,714,772
Expenditure on:
Raising funds: 7,203 - - 7,203 6,565
Charitable activities:
Setting standards of service delivery 5 1,002,932 25,495 - 1,028,427 1,047,693
Promoting training and education 5 1,002,932 1,859 1,004,791 995,680
Promoting dermatology research 5 1,002,932 214,108 - 1,217,040 1,215,823
Support and representation 5 802,749 255,590 - 1,058,339 1,101,154
Raise awareness of skin health 5 846,584 - 7,478 854,062 856,577
Biologics and Eczema Register 5 2,132,274 - - 2,132,274 1,765,623
Total expenditure 6,797,606 497,052 7,478 7,302,136 6,989,115
Net gains on investments 235,237 - - 235,237 78,915
Net income/(expenditure) 970,568 (497,052) (3,122) 470,394 (195,428)
Transfers (369,723) 369,723 - - -
Net movement in funds 600,845 (127,329) (3,122) 470,394 (195,428)
Fund balances brought
forward 1 January 7,689,626 4,990,372 195,432 12,875,430 13,070,858
Fund balances carried
forward 31 December 8,290,471 4,863,043 192,310 13,345,824 12,875,430

15

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONSOLIDATED AND CHARITY BALANCE SHEETS

AS AT 31 DECEMBER 2024

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
General reserves
Restricted funds
Designated funds
Non-charity funds
20		 Group
2024
2023
£
£
52,872
74,613
2,907,093
2,897,696
3,755,036
3,432,791
6,715,001
6,405,100
3,867,065
3,667,823
12,958,622
11,889,844
5,000,000
5,000,000
21,825,687
20,557,667
(5,577,168)
(5,192,122)
16,248,519
15,365,545
(9,617,696)
(8,895,215)
13,345,824
12,875,430
2,959,965
2,972,309
5,242,946
4,639,477
192,310
195,432
4,863,043
4,990,372
87,560
77,840
13,345,824
12,875,430		 Charity
2024
2023
£
£
52,872
74,613
2,907,093
2,897,696
3,755,036
3,432,791
6,715,001
6,405,100
3,308,077
2,824,440
2,780,474
2,440,018
5,000,000
5,000,000
11,088,551
10,264,458
(4,545,288)
(3,829,868)
6,543,263
6,434,590
-
-
13,258,264
12,839,690
2,959,965
2,972,309
5,242,946
4,681,577
192,310
195,432
4,863,043
4,990,372
-
-
13,258,264
12,839,690

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

………………………………..

Dr Simon Tso

Date: 23/10/25

The notes on pages 18 to 35 form part of these financial statements.

16

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

Notes 2024 2023
£ £
Cash flows from operating activities 21 866,042 860,453
Interest received 396,612 222,824
Net cash flow generated from operating activities 1,262,654 1,083,277
Cash flow from investing activities
Purchase of tangible fixed assets (106,868) (1,157)
Purchase of fixed and current asset investments (87,008) (2,086,066)
Net cash flow used in investing activities (193,876) (2,087,223)
Net increase/(decrease) in cash and cash equivalents 1,068,778 (1,003,946)
Cash and cash equivalents at 1 January 11,889,844 12,893,790
Cash and cash equivalents at 31 December 12,958,622 11,889,844
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT
Increase/(decrease) in cash in the period / change in net debt 1,068,778 (1,003,946)
Net debt at 1 January 11,889,844 12,893,790
Net debt at 31 December 12,958,622 11,889,844
Cash and cash equivalents consists of:
Cash at bank and in hand 12,958,622 11,889,844

17

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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 2 of these financial statements. The nature of the charity’s operations and principal activities are detailed on page 3. 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 2025 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.

18

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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.

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.

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.

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

19

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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.

20

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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
Interest receivable
3.
Charitable activities
Membership
Journals
Conferences
Biologics and Eczema Register		 General

Funds
£
508,002
2,316,085
1,803,415
2,315,635
6,943,137		 Restricted
Funds
£
-
-
4,356
-

4,356		 2024
£
396,612
Total
2024
£
508,002
2,316,085
1,807,771
2,315,635
6,947,493		 2023
£
222,824
Total
2023
£
459,661
2,382,148
1,591,922
1,924,588
6,358,319

Of the total charitable income received for the year to 31 December 2023 £11,024 was attributable to restricted funds and £6,347,295 to unrestricted funds.

21

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

4.
Other trading activities
Room hire
BCD Income
Advertising – BAD newsletter
Advertising & promotions
Communications Campaigns
Specialty Certificate Examination
Skin Health and Disease Journal
Sundry income		 Unrestricted
Total
Total
2024
2023
£
£
33,327
31,275
50,142
24,615
18,915
18,992
3,850
3,350
8
-
33,564
51,837
48,834
-
4,548
3,560
193,188
133,629		 Unrestricted
Total
Total
2024
2023
£
£
33,327
31,275
50,142
24,615
18,915
18,992
3,850
3,350
8
-
33,564
51,837
48,834
-
4,548
3,560
193,188
133,629
133,629
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)
2024
£
£
£
£
435,991
425,862
166,574
1,028,427
435,991
402,226
166,574
1,004,791
435,991
614,475
166,574
1,217,040
435,991
455,774
166,574
1,058,339
435,991
207,661
210,410
854,062
40,600
2,033,237
58,437
2,132,274
2,220,555
4,139,235
935,143
7,294,933		 Total
2023
£
1,047,693
995,680
1,215,823
1,101,154
856,577
1,765,623
6,982,550

Of the total expenditure for the year to 31 December 2023, £5,896 was attributable to restricted funds, £585,929 to unrestricted designated funds and £6,390,725 to unrestricted funds.

6.
Grants and donations
Included within direct costs above are the following grant payments:
Institutions
Individuals		 2024
£
293,332
34,064
327,396		 2023
£
323,357
107,392
430,749

22

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

6.
Grants and donations (continued)
Grants of over £1,000 were paid to institutions are as follows:
British Skin Foundation
UKDCTN
British Skin Foundation small grants
Kings College
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
Alopecia UK
H V A
Changing Faces
BSPAD
IFD
The UK Mastocytosis Support Group
Caring Matters Now
PEM friends
Behcet’s UK
Grants < £1,000
Grants of over £1,000 were paid to individuals as follows:
Intercalated Degree Grant
Dermatology Education Bursary
Global Dermatology Bursary
Geoffrey Dowling Fellowship
Consultant Sabbatical Fellowship
Hannah Wainman Study
Henry Grantham
Roger Harman
Jason Thompson
Grants < £1,000		 2024
£
200,000
54,723
-
-
-
-
-
-
-
-
-
1,000
1,767
-
-
-
-
2,122
1,680
2,064
2,580
15,000
2,365
4,000
1,519
4,062
450
293,332
2024
£
3,890
2,250
-
2,000
-
-
21,667
-
3,828
429
34,064		 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

*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.

23

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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		 2024
£
4,295
20,794
3,939
316
119,212
12,713
126,067
164,745
117,778
315,720
49,550
935,129
 2023
£
11,339
38,213
3,718
61
128,748
17,839
89,279
160,990
182,762
443,052
43,475
1,119,476

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		 2024
£
20,400
6,800
6,800
9,500
6,050
49,550
2024
£
2,069,289
221,414
111,125
2,401,828		 2023
£
18,450
6,150
6,150
9,025
3,700
43,475
2023
£
1,958,245
205,357
103,161
2,266,763

The average monthly number of employees during the year was 46 (2023: 45). This included 1 member of staff in the British Association of Dermatologists Biologics Register (2023: 1).

1 employee earned emoluments between £60,001 and £70,000 during the year (2023: 1), 2 employees between £70,001 and £80,000 (2023: 4), 4 employees between £80,001 and £90,000 (2023: 2), 0 employees between £90,000 and £100,000 (2023: 1) and 1 employee between £100,001 and £110,000 (2023: 0).

24

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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 £796,397 (2023: £771,431).

None of the Trustees received any remuneration during the year for services as a trustee (2023: none). The payments were paid directly to the Trustees employer as compensation for their time given to the charity.

Travelling and accommodation expenses of £8,223 (2023: £17,638) were reimbursed to 16 (2023: 12) Trustees and committee members.

10. Intangible fixed assets

Intangible fixed assets
Group and charity
Cost
As at 1 January 2024 and 31 December 2024
Amortisation
As at 1 January 2024
Charge for year
As at 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 Website
development
costs
£
352,336
277,723
21,741
299,464
52,872
74,613

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

11.
Tangible fixed assets
Group and charity
Cost
As at 1 January 2024
Additions
As at 31 December 2024
Depreciation
As at 1 January 2024
Charge for year
As at 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 Freehold
property
£
4,574,231
106,868
4,681,099
1,694,752
92,603
1,787,355
2,893,744
2,879,479		 Computer
equipment
£
340,413
-
340,413
329,080
3,301
332,381
8,032
11,333		 Office
equipment
and
furniture
£
235,290
-
235,290
228,406
1,567
229,973
5,317
6,884		 Total
£
5,149,934
106,868
5,256,802
2,252,238
97,471
2,349,709
2,907,093
2,897,696

The freehold property is used for direct charitable purposes.

25

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

12.
Fixed asset investments
Group and charity
Market Value at 1 January
Additions
Change in market value
Market value at 31 December
Cash
Total Market value at 31 December
Cost at 31 December		 2024
£
3,431,024
86,600
235,237
3,752,861
2,175
3,755,036
3,117,931		 2023
£
3,265,487
86,622
78,915
3,431,024
1,767
3,432,791
3,031,230

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 2024
£
796,225
(667,406)
128,819
(86,719)
42,100
2024
£
1,431,942
(549,008)
882,934
(882,934)
-		 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)

26

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024
£
1,519,410
(1,365,831)
153,579
(153,579)
11,614
11,614
(1,894)
9,720
2024
£
537,844
10,178,147
10,715,991
(1,893,669)
8,822,322
(8,734,762)

87,560		 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

At 31 December 2024 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 2024 and therefore are exempt from audit by virtue of Section 476A of the Companies Act 2006.

27

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

13. Debtors Group Group Charity
2024 2023 2024 2023
£ £ £ £
Trade debtors 2,838,341 2,154,050 2,021,494 1,580,796
Other debtors 79,339 153,507 79,339 153,507
Prepayments and accrued income 949,385 1,360,266 949,385 956,290
Amounts owed by group companies - - 257,859 133,847
3,867,065 3,667,823 3,308,077 2,824,440
14. Current asset investments Group Charity
2024 2023 2024 2023
£ £ £ £
Under 1 year to maturity
Investments held 5,000,000 5,000,000 5,000,000 5,000,000
5,000,000 5,000,000 5,000,000 5,000,000
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
2024 2023 2024 2023
£ £ £ £
Trade creditors 347,788 246,598 347,326 246,598
Other creditors 1,772,866 1,479,638 900,396 562,590
Other taxation and social security 434,274 498,092 269,098 322,324
Accruals and deferred income 3,022,240 2,967,794 1,875,526 1,864,892
Amounts owed to group companies - - 1,152,942 833,464
5,577,168 5,192,122 4,545,288 3,829,868
Deferred income:
Deferred income at 1 January 2,058,595 2,374,631 1,141,551 405,188
Release from previous years (2,058,595) (2,374,631) (1,141,551) (405,188)
Amounts deferred in the year 2,556,998 2,058,595 1,636,061 1,141,551
Deferred income at 31 December 2,556,998 2,058,595 1,636,061 1,141,551

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

28

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

16. Creditors:amounts falling due Group Charity
after one year 2024 2023 2024 2023
£ £ £ £
Other creditors 9,617,696 8,895,215 - -
17. Retirement benefit schemes
Group Charity
Defined contribution schemes 2024 2023 2024 2023
£ £ £ £
Charge to statement of financial activities
in respect of defined contribution
schemes		 111,125 92,393 111,125 92,393
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 2024 2024
£ £ £ £ £
Betty Parkes Fund 12,500 - - - 12,500
eLFH-Dermatology 133,974 - (5,813) - 128,161
THESIS Fund 33,146 - (1,665) - 31,481
Teledermaratology 15,812 4,356 - - 20,168
195,432 4,356 (7,478) - 192,310
Restricted funds - prior year
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

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.

29

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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.

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
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
College Project
BAD UK Keratinocyte Cancer
Collaborative (UKKCC)
A*Star Eczema Registry
BAD Service Standards and
Clinical Registries Fund
Willan House refurbishment
Publishing development
BAD Digital Transformation
Topol Fellowships
Outpatient Transformation
Research Fund 2022
Journal Transition Fund		 1 January 2024
£
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		 Expenditure
in the year
£
(1,859)
-
(25,495)
-
-
-
(54,723)
-
(237,556)
(98,179)
(116)
-
-
-
-
-
(18,034)
(61,090)
-
(497,052)		 Transfers
£
-
100,000
65,000
-
-
-
54,723
-
150,000
-
-
-
-
-
-
-
-
-
-
369,723		 31 December 2024
£
164,763
102,262
178,814
50,000
4,957
42,800
35,386
50,000
1,004,862
74,137
349,884
400,000
538,900
50,000
46,030
49,372
81,966
838,910
800,000
4,863,043

30

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

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
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

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 2024 was £164,763 (2023: £166,622) and this will be used to develop new educational resources as part of the College project.

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 2024, the balance of the funds stands at £102,262 (2023: £2,262).

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.

31

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

19. Designated funds (continued)

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 was designated for two years of the project as originally agreed in 2016. The remaining balance on the fund as at 31 December 2024 was £4,957.

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 was 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 delivered 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.

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.

32

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

19. Designated funds (continued)

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.

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.

Research Fund 2022

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.

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.

This fund was fully utilised by 31 December 2023.

33

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

19. Designated funds (continued)

Short term strategic projects

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.

This fund was fully utilised by 31 December 2023.

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.

This fund was fully utilised by 31 December 2023.

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.

This fund was fully utilised by 31 December 2023.

20. Allocation of net assets – At 31 December 2024

Group
Restricted funds
Unrestricted funds
Non-charity funds
Charity
Restricted funds
Unrestricted funds		 Fixed
assets
£
-
6,715,001
-
6,715,001
Fixed
assets
£
-
6,715,001
6,715,001		 Net current
assets
£
192,310
6,350,953
9,705,256
16,248,519
Net current
assets
£
192,310
6,350,953
6,543,263		 Long
term
liabilities
£
-
-
(9,617,696)
(9,617,696)
Long
term
liabilities
£
-
-
-		 Total
£
192,310
13,065,954
87,560
13,345,824
Total
£
192,310
13,065,954
13,258,264

34

THE BRITISH ASSOCIATION OF DERMATOLOGISTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

20. Allocation of net assets prior year – At 31 December 2023 (continued)

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

21. Cash generated from net income of group operations

Net (expenditure)/income
Depreciation and amortisation
Gain on investments
Investment income
(Increase)/decrease in debtors
Increase in creditors
Net cash flows from operating activities		 Group
2024
2023
£
£
470,394
(195,428)
119,212
128,747
(235,237)
(78,915)
(396,612)
(222,824)
(199,242)
244,888
1,107,527
983,985
866,042
860,453		 Group
2024
2023
£
£
470,394
(195,428)
119,212
128,747
(235,237)
(78,915)
(396,612)
(222,824)
(199,242)
244,888
1,107,527
983,985
866,042
860,453
860,453

22. Related party transactions

During the year the charity charged British Association of Dermatologists Biologics Register Limited £95,380 (2023: £81,152) in relation to costs incurred on their behalf during the year. At the balance sheet date £257,859 (2023: £133,847) was owed to the charity.

During the year the charity collected income on behalf of British Association of Dermatologists Eczema Register Limited totalling £796,225 (2023: £502,387) and paid costs of their behalf of £754,125 (2023: £469,002). At the balance sheet date £1,152,942 (2023: £833,464) 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.

35