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2026-03-31-accounts

The Medical Council on Alcohol (A company limited by guarantee)

Report and Financial Statements Year ended 31 March 2026 Charity number: 265242 Company number: 952312 VAT number: 128992569

TABLE OF CONTENTS

REPORT OF THE TRUSTEES & DIRECTORS OF THE MEDICAL COUNCIL ON PAGES 3-14 PAGES 3-14 PAGES 3-14
ALCOHOL FOR THE YEAR ENDED 31 MARCH 2026
INTRODUCTION PAGE 3
OUR PURPOSE AND ACTIVITIES PAGE 3
MEDICAL DIRECTOR’S REPORT PAGE 5
2025-2026 PERFORMANCE REVIEW OF CONTINUING ACTIVITIES PAGE 7
FINANCIAL REVIEW PAGE 8
STRUCTURE, GOVERNANCE & MANAGEMENT PAGE 9
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE MEDICAL COUNCIL ON PAGE 13
ALCOHOL FOR THE YEAR ENDED 31 MARCH 2026
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2026 PAGE 14
BALANCE SHEET AS AT 31 MARCH 2026 PAGE 15
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 PAGE 16

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REPORT OF THE TRUSTEES & DIRECTORS OF THE MEDICAL COUNCIL ON ALCOHOL FOR THE YEAR ENDED 31 MARCH 2026

The Medical Council on Alcohol is a Registered Charity (Number 265242) and a Company Limited by Guarantee and not having a share capital (Company Registration Number 952312) as well as being VAT registered (128992569). It is governed by its Memorandum and Articles of Association dated 28 February 1967 (as amended by special resolution on 3 November 1992) under which one third of the Executive Committee is elected or re-elected at each Annual General Meeting. The Executive Committee appoints the Chairman and is also entitled to appoint new Trustees and determine the method of their appointment.

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31 March 2026 which are prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) (Effective January 2022).

OUR PURPOSE AND ACTIVITIES

Objectives

The Medical Council on Alcohol (‘The Council’) was established in 1967 for “the benefit of the community to provide an organisation of registered health care professionals with a view to the coordination of effort, the better understanding of alcoholism and its prevention and the treatment and after-care of alcoholics”.

Our purpose

The vision that shapes our annual activities remains to create a workforce of health professionals educated and supported to reduce health harm from alcohol. Improving the competence of health

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professionals in the alcohol field will improve the quality of treatment for patients in the UK. The charity also supports healthcare professionals who have developed problems with their own use of alcohol.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity’.

Educational Activities

We run a range of educational activities including student competitions and an annual Symposium. The income from this event is intended to ensure that the event itself is at least cost neutral, but ideally to increase sponsorship and price delegate income to create a small surplus to aid in covering the costs of educational activities. Our activities have the benefit of improving the competence of health care professionals, particularly at the beginning of their careers, to manage health harm from alcohol in their patients.

Membership

The MCA has a small membership body of healthcare professionals. The membership fees cover the cost of the thrice-yearly newsletter and also allow the MCA to offer reduced rates for members to its educational events aimed at health care professionals.

Journal

The MCA owns a 50% share with Oxford University press of the ‘Alcohol and Alcoholism’ journal. The income from the Journal contributes towards the operational costs of the organisation. Our continued aim is to increase the Journal’s impact measured by a range of metrics and we work towards this with OUP and the Editors-in-Chief. The Journal meets the MCA’s vision and mission statements by contributing to the academic endeavours of improving the knowledge and understanding of alcohol-related health harm and thus improving the management of patients with alcohol-related health issues.

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MEDICAL DIRECTOR’S REPORT

The MCA continues to be based at 2 St Andrew’s Place in London and we have renewed our lease with the Royal College of Physicians, to whom we are affiliated. Our activities and meetings take place both in our office and remotely. This combination allows us to benefit from face-to-face interactions which are so valuable whilst still maximising participation and minimising travel time and costs.

The MCA mission is to reduce alcohol-related health harm, primarily through educational measures for health professionals. As such our key audience are professionals from all the relevant disciplines and specialisms, including those in training. Activities include a variety of educational enterprises and of course our Journal which is highly regarded in the field. Historically we maintain an important link with doctors who are in recovery and to this end our relationships with the British Doctors and Dentists Group and the Sick Doctors Trust are central. Whilst we are not primarily a campaigning organisation, we remain committed to supporting evidence-based policy change through our links with the Alcohol Health Alliance and other organisations.

During the past year we defined two new areas of work. We worked with the new Centre for Addiction and Mental Health Research at the University of Hull and specialists from other centres to develop a consensus diagnostic definition for Alcohol Related Cognitive Impairment which can be used in research and clinical settings. This work is similar to the role the MCA undertook with other partners last year to develop a strategy for Alcohol Treatment Services and it provides a model of collaborative working that we hope will continue to be part of the MCA’s portfolio of activities. We are also delighted that we have now appointed a Research Fellow to lead on a major new MCA project, an audit of undergraduate alcohol teaching in the growing number of UK medical schools. This is planned to take place over the coming year and to lead to recommendations for best practice.

The 2025 MCA Symposium on Alcohol and Health was again held at the RCP in London and was an excellent day. The Max Glatt lecture by Professor Ed Day was a compelling account of his dedicated work on recovery-oriented care in the alcohol and health field. It is available to view for all via the MCA website as are previous Max Glatt lectures. The rest of the day was on the theme of alcohol and the workplace, with talks on assessing employees and others including in safety critical occupations. All the talks are available for delegates to view for six months after the event, thus giving an opportunity for increased exposure and impact. The event offered much valued opportunities for in-person networking and got excellent feedback. Pleasingly we made a profit in excess of £2,700, largely due to improved uptake by sponsors. We are currently working on the 2026 event and hope to replicate and indeed improve on this position by maximising marketing and sponsorship opportunities, as well as of course putting on an excellent programme of speakers.

As ever, other regular educational projects include our competitions, of which there have been two in the past year for medical students and other health professionals in training. The 2025 Essay prize on the extremely topical theme of no/lo alcohol resulted in excellent entries and the prize-winning

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essay was published in our annual report. One challenge in this area has been the role of AI in entries, which has resulted in ongoing discussions within the MCA. We also ran the biennial National Alcohol Awareness Day competition to produce a visual representation of the link between alcohol and cancer. This resulted in some very striking entries which were exhibited at our annual Symposium. All competition winners are invited to attend the day to receive their prizes.

Our Journal is our principal source of income and over the past year this has resulted in an income of around £177,000. As well as its financial impact, it is of course also a key element of the MCA’s educational mission. The Impact Factor has increased to 2.2, with a 5-year Impact Factor of 2.5. We are overwhelmingly well served by our joint Editors in Chief, Lorenzo Leggio and Giancarlo Columbo from the US and Italy respectively. They are key to the on-going success of Alcohol and Alcoholism. Academic publishing is an increasingly complex and dynamic enterprise and we are extremely well supported by the Oxford University Press, our Journal co-owners and of course experts in the field. During the course of the year, our longstanding OUP publisher Rachel Moriarty has been seconded to another role in the organisation and her place has been taken over by Giulia Maggiori, who continues to provide excellent dedicated engagement. Our Journal Committee meets biannually to oversee this element of the MCA’s activities and we also have many interactions with OUP and our Editors throughout the year.

Our investment income of course depends on the performance of the financial markets. We have benefited from the oversight of our financial advisors Charles Stanley with whom members of the Executive Committee and the Treasurer meet regularly. As reported in this document, the past year has shown pleasing results though of course current geopolitical events are a cause of future uncertainty.

Our aim for the next year is to continue our activities to meet our mission of improved outcomes for patients with alcohol related health harm through an educated workforce. This mission is reflected through all our streams of work and with the development of new initiatives. We are guided by our Treasurer to do this while staying in budget with income and expenditure in reasonable balance.

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2025-2026 PERFORMANCE REVIEW OF CONTINUING ACTIVITIES

Performance Review 2025-2026

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FINANCIAL REVIEW

The MCA recorded a net income for the year of £22,557 (2025: £9,289) before realised and unrealised investment gain of £77,666 (2025 loss: £9,599) with a net increase in funds for the year of £100,223 (2025 decrease: £310). At the year end the Council had net funds of £1,056,037 (2025: £955,814).

Income

The Symposium was held in person in 2025 and resulted in a small surplus.

Total Journal income increased to £176,665 compared to the previous year (2025: £162,055), as a result of exceptional income from AI ‘training’ contracts.

Investment income increased to £32,039 (2025: £30,165) mostly due to higher dividend income from the portfolio.

Expenditure

Inflation resulted in a small increase in total costs during the year compared to 2025. Total expenditure for the year was £204,870 (2025: £199,215).

Investment portfolio and cash balances

The year-end portfolio valuation was £877,162 (2025: £806,327), an increase of over £70,000. This result would have been even greater had share valuations not declined sharply in March due to events in the Middle East.

Cash balances at just over £189,000 remained at a healthy level.

Our Membership and Symposium Pricing Policies

The MCA’s pricing policies with regards to membership and events reflect our strategy of being accessible and cost effective to all types of healthcare professionals especially as budgets within the NHS are very strict at present, whilst aiming for the MCA to remain financially viable.

Investment Powers and Policy

The Council has appointed Charles Stanley and Co. as MCA’s investment managers and members of the Executive Committee and the Treasurer have regular meetings with the investment manager to monitor performance. The investment manager is aware of the Council’s ethical stance on alcoholrelated investments.

Reserves Policy

The Council’s policy is to retain sufficient cash and easily liquidated investments to cover at least 9 months estimated future expenditure, which in 2025/2026 was approximately £154,000. The aim of the Trustees is that the level of cash balances to be held as part of this cover should be in the region of at least £125,000. At the year-end MCA’s net cash at bank and on deposit amounted to approximately £189,000.

All investment holdings are capable of being liquidated quickly should the need arise.

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STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Medical Council on Alcohol is a company limited by guarantee governed by its Memorandum and Articles of Association dated 1967. It is registered as a charity with the Charity Commission.

The Council is governed by the Executive Committee and its subordinate Committees: Education and Public Health and Journal. There is a network of Regional Advisors associated principally with Medical Schools and Universities, and a current membership of 85. Members of the Executive Committee are Directors under Company Law and Trustees under Charity Law. Members of the Company guarantee to contribute an amount not exceeding £1 each to the assets of the Company in the event of a winding-up during their membership or within one year of their ceasing to be a member. The total of such guarantees at 31 March 2026 was £85 (2025: £79).

Appointment of Trustees

Under the company’s articles, directors of the company are known as members of the Executive Committee. Under the requirements of the Memorandum and Articles of Association the members of the Executive Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. The directors retire by rotation and, if eligible, can offer themselves for re-election.

Most trustees are already familiar with the practical work of the Council. Additionally, new trustees are encouraged to attend meeting sessions to familiarise themselves with the Council and the context within which it operates.

Trustee Induction and Training

New trustees are briefed on their legal obligations under charity and company law, the Charity Commission guidance on public benefit and receive a copy of the Memorandum and Articles of Association. New trustees are presented with any recent financial documents and business plans.

Organisation

The board of trustees, which can have up to 30 members, administers the charity. The board normally meets three times a year. A Chairman is appointed by the trustees to manage the day- to-day operations of the charity. To facilitate effective operations, the Chairman has delegated authority, within the terms of delegation approved by the trustees, for operational matters including finance, employment and membership to the Medical Director and other committees (Education & Journal).

Related Parties and Co-operation with other Organisations

The Medical Council on Alcohol has formal Agreements only with the Journal Publisher (Oxford University Press) and the European Society for Biological Research into Alcohol (a charity with similar objectives, subject to Belgian National Law, but administered from Vienna).

In pursuance of its charitable objectives The Medical Council on Alcohol co-operates with bodies such as the Sick Doctors Trust, the Alcohol Health Alliance and the British Doctors’ and Dentists’ Group but has no formal relationship with these bodies.

The Medical Council on Alcohol became affiliated to the Royal College of Physicians in 2006: this affiliation does not affect the independence of The Medical Council on Alcohol as a Charity.

Pay Policy for Senior Staff

The directors, who are also the trustees, give of their time freely and no director received remuneration in the year. Details of directors’ expenses are related party transactions and are disclosed in note 9 in the accounts.

The pay of MCA staff is reviewed annually in accordance with pay in other comparable organisations.

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Risk Management

The Council is exposed to operational and financial risks as a result of its operating activities. To mitigate these risks a system of internal financial controls has been implemented that is designed to provide reasonable (although not absolute) assurance against material misstatement or loss.

The trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of the investment portfolio and active management of debtors and creditors balances to ensure sufficient working capital.

The Council is also exposed to market risk from holding investments in equities and bonds. To manage this risk the Council has given clear guidelines to the investment manager on the investment strategy to be followed and receives regular reports from the investment manager on the performance of the portfolio. Members of the Executive Committee and the Treasurer meet regularly with the manager to review investment performance.

Attention has also been focused on non-financial risks arising from fire and health and safety issues. These risks are managed by ensuring that all office machines are PAT tested regularly, having set policies and procedures in place, maintenance of equipment, back-up of data to an external server and regular staff training.

REFERENCE AND ADMINISTRATIVE DETAILS:

Charity number: 265242

Company number: 952312

VAT number: 128992569

Registered Office: 2 St Andrews Place, London NW1 4LB

Our Advisors:

Independent Examiner: Martin Myers, Goldwyns No. 1 Royal Exchange London, EC3V 3DG Bankers: Natwest PO Box 2022, London, W1A 1FH Investment Manager: Charles Stanley Ropemaker Place 25 Ropemaker Street London EC2Y 9LY

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The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees as at 31 March 2026 were as follows:

OFFICERS
President		 Professor Sir Ian Gilmore
 MD, FRCP, DL
EXECUTIVE COMMITTEE
Officers:
Chairman
Education Committee Chair
Journal Committee Chair		 Prof Colin Drummond
Dr Iain Smith
Dr Peter Rice		 MB ChB, MD, FRCP, FRCPsych, FFPH, FRCGP(Hon)
MB ChB, BSc, FRCPsych
MB ChB, FRCPsych
Members: Prof Jonathan Chick
Prof Eilish Gilvary
Dr Jane Marshall
Dr Steve Masson
Prof Marsha Morgan
Dr Alasdair Young
Dr Michael Dougan
Dr David Fox		 MA, MPhil, MBChB, DSc, FRCP(Ed), FRCPsych
MBE, FRCP, FRCGP, MRCPsych
FRCPsych
FRCP
MB ChB, FRCP
MB ChB,MRCPsych
MB ChB, LLB, DA(UK), FFARCS(I)
FRCP FFOM
In attendance:
Honorary Treasurer:
Medical Director:
Executive Assistant:
Admin Assistant:		 Mr Graham Warner
Dr Dominique Florin
Mrs Jess Luxon - Walsh
Ms Clare Farrow		 MBA, FCA
MA, MB BS, MRCGP, MD, FFPHM
BSc(Hons)
Distinguished Fellow: Dr Bruce Ritson OBE, MD, FRCPsych, FRCP (Ed)

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Trustees’ responsibilities in relation to the financial statements

The trustees (who are also directors of The Medical Council on Alcohol for the purposes of Company Law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under Company Law, the trustees must not approve the Financial Statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. 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 charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

On behalf of the board:

Dr Dominique Florin Date: 3 June 2026

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE MEDICAL COUNCIL ON ALCOHOL FOR THE YEAR ENDED 31 MARCH 2026

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2026 which are set out on pages 14 to 23.

Responsibilities and Basis of Report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities, applicable to charities preparing their accounts in accordance with the Financial reporting standard applicable in the UK (FRS102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

MARTIN MYERS, FCA CTA GOLDWYNS Audit LLP No. 1 Royal Exchange London, EC3V 3DG Date: 3 June 2026

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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2026

Note
Income and Endowments from:
Donations and Legacy Income
4
Membership
Investment Income
6
From charitable activities
Journal
Symposium
5
Total Income
Expenditure on:
Charitable Activities
7a / 7b
Governance & Administration
7c
Other
Total Expenditure
Net Incoming Resources
Gains / (Losses) on
Investments
Realised investment gains /
(losses)
Change in value of the
investment portfolio
Net Movement in Funds
Reconciliation of Funds
Total funds Brought Forward
Total funds Carried Forward
16		 Total 2026
Unrestricted
Funds
Restricted
Funds
Total 2025
£
£
£
£
715
515
200
2,286
3,003
-
3,003
3,149
32,039
32,039
-
30,165
35,757
32,554
3,203
35,600
176,665
122,370
54,295
162,055
15,005
15,005 -
10,849
191,670
137,375
54,295
172,904
227,427
169,929
57,498
208,504
148,049
90,551
57,498
145,489
55,882
55,882
-
53,392
939
939
334
204,870
147,372
57,498
199,215
22,557
22,557
-
9,289
1,211
1,211
-
20,119
76,455
76,455
-
(29,718)
77,666
77,666
-
(9,599)
100,223
100,223
(310)
955,814
955,814
956,124
1,056,037
1,056,037
955,814

The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities. The notes on pages 16 to 23 form part of these financial statements.

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BALANCE SHEET AS AT 31 MARCH 2026

Notes
Fixed Assets
Listed Investments
12
Current Assets
Debtors
13
Cash at Bank and in hand
Total Current Assets
Creditors: amounts falling due
within 1 year
14
Net Current Assets
Total Assets less Current Liabilities
Funds of the charity
Unrestricted funds
15
Restricted funds
Revaluation Reserve
15a
Total Funds		 2026
2025
£
£
877,162
806,327
29,843
81,407
189,341
106,101
219,184
187,508
40,309
38,021
178,875
149,487
1,056,037
955,814
887,963
864,195
168,074
91,619
1,056,037
955,814

For the year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and under the Charities Act 2011.

Directors’ responsibilities:

Approved by the Executive Committee on 3 June 2026 and signed on its behalf,

Professor C Drummond,

Chairman, Executive Committee

Mr G Warner, MBA, FCA Honorary Treasurer

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

financial institution.

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Effective January 2022) - (Charities SORP (FRS 102)) and the Companies Act 2006.

The MCA meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

Going Concern

The Financial Statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these Financial Statements. The budgeted income and expenditure, coupled with the level of reserves, is considered sufficient for the charity to be able to continue as a going concern.

Income

Income is accounted for gross (excluding Value Added Tax where applicable) when receivable, as long as it is capable of financial measurement. This includes donations, subscriptions, income from publications and investment income. Income received in advance of a specific event is deferred until the criteria for income measurement are met.

Interest Receivable

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

Fund Accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the MCA’s work or for specific projects being undertaken by the charity.

Expenditure

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

All expenditure is accounted for gross or net of value added tax where applicable, and when incurred. Rentals paid under operating leases are charged to the income and expenditure account on a straight-line basis over the term of the lease.

Allocation of Support Costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Seventy five percent of staff costs, rent/service charge, rates, insurance, and office expenses have been allocated to the charitable activities listed in note 7b.

Operating Leases

The charity leases its premises from the Royal College of Physicians on a periodic tenancy.

Tangible Fixed Assets

Depreciation on office equipment is provided on a straight-line basis at a rate of 20% per annum. Items of expenditure are capitalised where the purchase price exceeds £1,000.

Debtors

Debtors are recognised initially at fair value. Trade and other debtors are recognised at the amount due on the day they arise. Prepayments are amounts paid in advance and are stated at the actual amount that has been prepaid.

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  1. Financial Performance of the Charity

Cash at bank and in hand

Cash at bank and cash in hand includes cash and deposits in the bank or similar accounts.

The statement of financial activities shows the overall income and expenditure of the charity.

Investments

The listed investment portfolio is stated at market value.

Foreign Currencies

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of execution. Exchange differences are taken to the SOFA. Assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date.

Creditors and Provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event or activities and the amount due to settle the obligation can be measured or estimated reliably.

Financial Instruments

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

Pensions

The MCA is part of the NEST scheme with employer contributions in line with the government approved percentage. If staff meet the government requirements for a pension, then the MCA pay into either NEST on their behalf or into a private pension scheme at the same rate as the NEST scheme.

2. Legal Status of the Charity

The MCA is a company limited by guarantee and has no share capital. 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. For the purposes of the Companies Act, the persons regarded as Directors and the Board of Directors respectively, are the Members of the Executive Committee.

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4. Income from Donations and Legacies

Member & Product donations
Legacies & Other income		 2026
2025
£
£
515
707
200
1,579
715
2,286

The income from donations and legacies was £715 (2025: £2,286) of which £515 was unrestricted (2025: £707) and £200 restricted (2025: £1,579).

The MCA benefits greatly from the involvement and enthusiastic support of its many board members, Regional Advisors and volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP, the economic contribution of these people is not recognised in the accounts.

  1. Income from Charitable Activities
Income from Symposium
6. Investment Income
Dividends on investments
Interest receivable on bank deposits		 Unrestricted funds
Unrestricted funds
2026
2025
£
£
15,005
10,849
2026
2025
£
£
29,438
26,538
2,601
3,627
32,039
30,165

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7. Expenditure

7(a) Breakdown of costs by charitable activities (See note 16 for details of Restricted Expenditure):

Journal (Inc. Committee costs)
Member Communication
Education: External Events
Publications
Other
Symposia
Competitions		 Direct Costs
Support
Total
£
£
£
36,102
6,413
42,515
-
25,650
25,650
299
19,237
19,536
-
6,413
6,413
-
2,565
2,565
12,260
29,498
41,757
3,200
6,413
9,613
51,861
96,188
148,049

7(b) Analysis of costs by financial activity

Staff
Premises
Other Off.		 5%
20%
15%
5%
2%
23%
5%
25%
Total
Journal
Member
Com
Educatio
n:
External
Events
Education:
Publications
Education:
Other
Education:
Symposium
Education:
Comp
Governance
& Admin
£
£
£
£
£
£
£
£
£
102,432
5,122
20,486
15,365
5,122
2,049
23,559
5,122
25,608
19,868
993
3,974
2,980
993
397
4,570
993
4,967		 5%
20%
15%
5%
2%
23%
5%
25%
Total
Journal
Member
Com
Educatio
n:
External
Events
Education:
Publications
Education:
Other
Education:
Symposium
Education:
Comp
Governance
& Admin
£
£
£
£
£
£
£
£
£
102,432
5,122
20,486
15,365
5,122
2,049
23,559
5,122
25,608
19,868
993
3,974
2,980
993
397
4,570
993
4,967		 5%
20%
15%
5%
2%
23%
5%
25%
Total
Journal
Member
Com
Educatio
n:
External
Events
Education:
Publications
Education:
Other
Education:
Symposium
Education:
Comp
Governance
& Admin
£
£
£
£
£
£
£
£
£
102,432
5,122
20,486
15,365
5,122
2,049
23,559
5,122
25,608
19,868
993
3,974
2,980
993
397
4,570
993
4,967		 5%
20%
15%
5%
2%
23%
5%
25%
Total
Journal
Member
Com
Educatio
n:
External
Events
Education:
Publications
Education:
Other
Education:
Symposium
Education:
Comp
Governance
& Admin
£
£
£
£
£
£
£
£
£
102,432
5,122
20,486
15,365
5,122
2,049
23,559
5,122
25,608
19,868
993
3,974
2,980
993
397
4,570
993
4,967		 5%
20%
15%
5%
2%
23%
5%
25%
Total
Journal
Member
Com
Educatio
n:
External
Events
Education:
Publications
Education:
Other
Education:
Symposium
Education:
Comp
Governance
& Admin
£
£
£
£
£
£
£
£
£
102,432
5,122
20,486
15,365
5,122
2,049
23,559
5,122
25,608
19,868
993
3,974
2,980
993
397
4,570
993
4,967		 5%
20%
15%
5%
2%
23%
5%
25%
Total
Journal
Member
Com
Educatio
n:
External
Events
Education:
Publications
Education:
Other
Education:
Symposium
Education:
Comp
Governance
& Admin
£
£
£
£
£
£
£
£
£
102,432
5,122
20,486
15,365
5,122
2,049
23,559
5,122
25,608
19,868
993
3,974
2,980
993
397
4,570
993
4,967		 5%
20%
15%
5%
2%
23%
5%
25%
Total
Journal
Member
Com
Educatio
n:
External
Events
Education:
Publications
Education:
Other
Education:
Symposium
Education:
Comp
Governance
& Admin
£
£
£
£
£
£
£
£
£
102,432
5,122
20,486
15,365
5,122
2,049
23,559
5,122
25,608
19,868
993
3,974
2,980
993
397
4,570
993
4,967
5,950
297
1,190
892
297
119
1,368
 298
1,487
128,250
6,413
25,650
 **19,2 ** 37
6,413
2,565
 **29,4 ** 98
6,413
32,063

7(c) Governance and Administration costs:

Support Costs
Professional Fees
Investment management fees
Committee costs and funding to
other organisations		 2026
2025
£
£
32,063
30,691
15,361
14,623
5,693
5,315
2,765
2,763
55,882
53,392

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  1. Net Income/(expenditure) for the year is stated after charging the following:
2026 2025
£ £
Operating leases 19,868 19,868
Bank interest receivable (2,601) (3,627)
Accountancy services 9,370 8,637
  1. Analysis of staff costs, trustee remuneration and expenses
Wages and Salaries
Social Security contributions
Pension contributions
Staff Travel
Recruitment
Total
Average number of employees during the year		 2026
2025
£
£
94,843
90,253
1,310
3,689
3,961
2,708
1,405
913
1,334
102,432
97,984
3
3

No trustees were paid or received any other benefits from employment with the organisation in the year.

No charity trustee received payment for professional or other services supplied to the charity (2025: £nil). No payments were made to (2025: Nil) Executive Committee members in reimbursement of travelling expenses incurred in attending meetings. No employees had remuneration and employee benefits in excess of £60,000.

10. Staff Numbers

The MCA employs 3 part-time members of staff. It also employs additional part-time staff when necessary, during peak activity times (e.g. Symposium, other events etc).

11. Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

20 | P a g e

12. Fixed Assets – Listed Investments

Cost of investments at start of financial year
Additions at cost during the year
Disposals during the year
Realised gains (loss) on investments during the year
Cost of investments at end of financial year
Unrealised gains at year end
Market Value at end of financial year
Cash held pending investment		 2026
2025
£
£
692,552
598,487
73,099
159,082
(64,101)
(85,136)
1,211
20,119
702,761
692,552
168,074
91,619
870,835
784,171
6,327
22,156
877,162
806,327

All investments were listed on a recognised stock exchange.

13. Debtors: Amounts Falling Due Within One Year

ebtors: Amounts Falling Due Within One Year
Prepayments & Accrued Income
Trade Debtors		 2026
2025
£
£
13,554
8,357
16,289
73,050
29,843
81,407

14. Creditors: Amounts Falling Due Within One Year

Accruals & Deferred Income
Trade Creditors
Other Creditors
VAT payable		 2026
2025
£
£
21,124
21,124
1,112
1,262
4,846
2,964
13,227
12,671
40,309
38,021

15. Analysis of Net Assets Between Funds

2026 2025
£
 £
Unrestricted Funds, Net Current Assets 887,963 864,195
Unrealised gains on revaluation of investments 168,074 91,619
1,056,037 955,814

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15a. Movement in Revaluation Reserve

Brought Forward balance at 1 April
Net movement for the year
Balance at 31 March		 2026
2025
£
£
91,619
121,337
76,455
(29,718)
168,074
91,619

16. Movement in Funds

Unrestricted Funds:
At 1 April
Transfer from restricted funds
Net Movement in funds for year
At 31 March
Restricted Funds:
At 1 April
Income
Expenditure
Transfer to unrestricted funds
At 31 March		 2026
2025
£
£
955,814
956,124
100,223
(310)
1,056,037
955,814
-
-
57,498
58,368
(57,498)
(58,368)
-
-

Restricted funds received during the year and their subsequent expenditure was for:

_Gift Aid Donations:_Donations by members for
members only activities, such as AGM costs
_Membership:_The MCA receives yearly
subscriptions to pay for member activities
_Journal:_The MCA receives monthly income from
Oxford University Press to contribute to editorial
and board expenses		 Amount
Expenditure
£
200Members contribution towards AGM
costs (to aid in covering costs)
3,003
AGM costs, newsletter, website and
member activity costs
54,295
Editors’ honoraria and editorial meetings
and expenses
57,498

17. Operating Lease Commitments

MCA leases premises it occupies at the Royal College of Physicians (‘RCP’) on a periodic tenancy. With effect from 1 January 2026 the tenancy has been renewed with RCP for a further period of 3 years at the same level of rent and service charges as the previous arrangement.

The combined rent and service charges in respect of leased premises included in these accounts is £19,868 (2025: £19,868).

22 | P a g e

18. Related Parties

There are no related party transactions that require disclosure.

19. Post Balance Sheet Events

There are no events occurring after the Balance Sheet date that are required to be disclosed.

23 | P a g e