SOCIETY FOR ENDOCRINOLOGY {A COMPANY LIMrrED BY GUARANTEE) FINANCIAL STATEMENTS For tho year ended 31 December 2022 SOCIEfi FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Raferenco and admlnlstratlve delalls of the charlty. its Trustees and advlsors The Soclely for Endocfinology Is a company limited by guarantee, govemed In acojrdance with Its Memoranéum and Articles of Association. The administralive information required to be gwen is &8 follow5: Charlty Registration No- 266813 Registered with ttie Charity Commission for England arKI Wales Company R•gi8tration No: 349408 Prlnclpal and Registorod OfflGe: Starling House 1600 Bristol Parkway North 8rislol 8S34 8YU Councll of Manag8mgnt: Professor M J Korbonits Professor R V Thakker Professor R Andrew Professor M Gurn811 Professor R K Semple Professor K Boelaert DrA M Brooke Professor S F(Ybes Dr M Fr801 Dr T M Kearney Professor G G Lavery DrMJLevy Professor O Onyebuchl Professor M O'Rellly DrDARees Professor R M Reyndds Dr H L Slmpson (Presidenll Appointed 15111122 (Presiéenll Resigned 15111122 {Gen8ral Secreiaryl ITreasurefl (Programme Secretary) Resigned 15111122 Resl9ned 15111122 Appolnled 15111122 Appointed 15111122 Appointed 15111122 Resigned 15111122 R8signed 15111122 Appolnled 15111122 Senior Staff: l Russell O Mills L Udakis M Hook K Sargent {Chiel Executive & Company Secretary} {Finance Oireclorl (Oir8clor of Membgfship Engagement) (HR & Perfomianco DireGlorl (Deputy Managing Director, Bi05cienlffjica) No staff are wistered as directors of the Society for Endocrinology at Companies House. The term 'direclorf is used for internal purposes only. Ind8pend•nt Audllor. Haysmo¢intyre LLP 10 Queen Street Place London EC4R 1AG SOCIEf( FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Raf8rnnce and administratlve details of ihe charity, its Trustee8 and advisors {contlnued} Sollcltors: Royds Wlthy Trang 69 Carter Lane London EC4V SEQ Bankor¥: Nalwest Bank plc Thornbury Branch PO Box 1389 Bristol BS99 5HD Investment Managers: Caz8nove Capital 1 London Wall Place London EC2Y &4U SOCIEff FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT About us The Society for EndoCrIr￿1OgY (the Society) is the UK home of endocrinology. Endocrinology is the study of the endocrine SyBlem - a nefv￿rk of glands produang chemlcal messengers called hormone$ that play a vital role in controlling and regulating many functions of living organisms including metsbolism. growth and development, sexual funclion and repr¢xiuclion, heart rate, and blood pressu￿. We have around 3,0(KJ members and bring tOg&ther the global endocrine community lo share ideas and advance our discipline. As a membership organisation we support sclentists, clinicians, nurses and other associated professionals who work in the field of hormonos throughout their careers. We also engage policy-makers, joumali81s, patients and th8 public with homione science lo èncourage InfLYmed heallh declsions. correct misinformation. and to demonslrale the valug of endoC￿n010gY to the wlder world. 11 is e91imated that 1 In 3 people in Ihe UK are affected by an gndocrine-relaled condltion-. 250/0 of th& UK FX)pulation are obese1 7¢A are living with diabelos . and 4Vo suffer from osteoporosis - all are endocrine condltions. In addition, around 15n 7 couples may have difficulty conceiving and there are also a large number of rarer endocrine ￿nditions, including Cushlng's disease and acromegaly. Thank$ to ondocrinologisls, diabetes patients are able to lead longer, healthier lives, infertile couples aro able to ¢oncelve, ané those with breast and proslate ¢an¢er are increasingly beating the odds. Together, our members advance the pace of18amlng and re8earch across the sector from bas1¢ sclence to cllnlcal practice. By $harfrKJ our expertlS8 With p￿￿y-makerS and the publk, the s￿IetY and our members are helping to 8hape the future of publlc h6alth. Our Strategy: shaplng the future of homionè rasaarch and cllnlcal practlcg Tho Socloly for Endocrinology exists lo advance the LJnder3landing of endocrinology. Endocrlnology Is fvndarnenlal lo human, anlmal, and plant lrfe. Hundre(Is of milllons of people worldwide SLrffer from endo¢rlne cor*lllon8, and hormone8 hav8 a conlinuous. direct Impact on our Ilves al all stages of lrfe, Our work cenlres on providing 5UPPOrt for endocrlnologisls who are improvlng patient outcomes, undertaklng cutting-edge research whl¢h furthers the understanding of the endocrine system, and r818ing pU￿1C awarenoss of the impact of homiones so Ihat people can make better he8lth¢are cholces. Our members work lo gain a better understanding of homion85 and the orbdo¢rine system that allows us to live happier, healthier. and longer Ilves., we work lo support the needs and prlorllie$ of our dlverse membership of basi¢ scientists. specialist nurses. cllnlcians, and other associated professionals working in endocftnology and closely related disdplines. Supporting research to 8Xtend our undarst8nding In 2022, the Soclely for EndoCrIr￿1OgY continued lo support ¢utting-edge research and trainlng by awarding £420k in grants, Induding £174k Early Career grants usod, for exarnple, by researckers lo gain preliminary data before applying for other funding. In 2022, our Iralnlng events Cllnical Update an(J Endocrine Nurse Updat8 r8turned in person - both ware oversubscribeé. We also continued with a programme of virtual dinical and researcher trainlng covering topical subjects identrfied by our members. The balance bgtween virtual and in-person training, and the changing training needs of our members, p)sl-pandemic. was consldered by Dur committees over 2022. As a r85uIL the topics we cover- as well as the fomials- are contlnual tyvolvlng. The Society directly owns four peer-reviewed joumals and eTrown$ another. Our traélng subsidlary, BiosGienltfica, owns four more journals and again (￿OWn$ one more. The wrtro1￿ of journals 1 https'.1hN￿.nhS.ukj¢0nditiOnS1ObeSItyl 2 https'.Ilww.diabet6s.org.uk]aboul_uslnewslnew-Stats-peopltr4iving-wlh4iabeles 3 https'.Ilwww.nhs.ukJconditionsJ051eoporosisl SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Indudes Endocrine Oncology, which was launched in 2021, Redox Experimental Medicine,18unched in 2022, and Llicmbi018 and Host which wll begin publi¢atK)n in 2023. All ten journals publish high- quality researth and serve as hubs for kTh)wledg8 exchange. The Society also has an arrangement with commercial publisher John Wiley & s￿$. In¢ whereby the Whley￿wned journal Cllnical Endocrinology is adopted as the Off￿la1 dinl¢al joumal of the Society for Endocrinology. Developlng bast pr8¢tiC8 in clinical care A key component of tho So¢ieVs work Is in developing and sharing best practice in clinical care. Our clinical working group, 'Ihe Future of Endocrindogv, was sel up soon after the pandem1¢ started and disseminal8d Its recommendation$ in 2022, as well as undertaking further work to assess current service pressures within endo¢rlnology poSl-pandem￿. We work wlh Ihe Assoclatlon of British Cllnlcal Dlabelologlsts and the Federat￿￿ of Royal Colleges of Physicians of the United Kingdom to dellver the Specially Certifute Examination ISCEI i Endocrlnology and Dlabetes. The SCE is a compulsory ¢omponent of assessment for thé C6rtiflcal6 of Completion of Tralning for all UK train808 $pe¢lalislng in Endocrinology and Dlabe185. We produce dinlcal ouidanct for the management of endo¢rlno ¢ondltions for 8peciallsts, ￿Mary h&allh care workers ané first responders, whoch cKJnlinved lo be updat8d to help manage the care of endocrlne patlents throughout the parKlemlc. Our Peer Revlaw audit servlce. whlle still not able to run due lo the u)ngoing impact of th8 pandemic, was redeveloped over 2022 in conjunction wllh the Future of Endocrlnology worklng group, lo Support implementation and evalUa￿on of improved servlc8S. Along wllh our guidellnes, such audits help lo ensure the adoption of best practice and consi51ency of Care across the country. In addition, the Society manages a programm8 of UK-wlde research projects lo better und8r8tsné rare endocrine conditions and improve paI￿At outcomes. Ensurlng thg public make inftymed health ¢hol¢e$ Our aim Is for everybody lo have a beller under51andlng of hormon88 and lo make informed dec151on8 about Ihelr health as a result. Endocrlnolo9y 18 a hugely imptylanl sublect that Impacts every Ilving organism arsd $0 we also want lo inspire young people to lake an interest In Stud￿ng endocrinology and related subjects. We WOTk proactfvely lo ensure acxurale reporting of endocrinology in tho media and promote the underslanding and discussion of endr)crinolLNJy through public events, in person and onllne vla resources such a5 You and Your H¢ff￿$ urhomi We seek to infomi policy and deasion makers by promoting Ihe SL￿le￿$ expertise to external bodies, Includlng the NHS. government departments. higher edu￿110￿ bodles, and scienlrfic and medlcal organisallons, thus womoting best practice in ￿￿ence and medicine. We work dosely wlth patient support groups in endOCrir￿1ogY to improve Infomiatlon and c8re for patients and carers. The Society makes grants availabte to fund specrfic patient group activities. We also facilitate patlenl communication wth lh8 medical Community by inviting patient 8UPPOrt groups lo our events, A vlbrant community Ur￿erp]nrn1ng all of these actfv￿es is the important role that the Society plays in ensurlng that the endocrlne community remains viknnt. We recognlse and reward success in endo(¥tnology at all levels through an annual programme of medals, prizes and awards. induding our recendy introduced Teaching Award, and Oulstandlng Clinical Practitioner Award. SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT In 2022 a working group was set up f¢xussirvJ on equalty, diverstty and inclusion IEDI) to examine practices across the Society. The group has been tasked identrfying any barriers to members joining or participating in the Society as well as making recommendatlons on mechanisms lo embed a strong EDI culture at all18V8ls and across al activrties. Wider nelworks and coll8bor8tKJns The Society recognises that some of its alms can best be achieved by collaboration wllh other organlsalions. The Society is a member of the Professional Associations Research Network, the A550ciation of Medical Re58arth Charities. the Association of L8amed and Professional Society Publisher8. and works dosely wlh the Science Media Centre. The Society is also a member of the Inlemational Soo'6ty of Endocrinology and the European Society of Endocrinology IESE}. The Society co-owns a journal wlth ESE and continues to support and conlribulè to ESE'S pollcy and advocacy work acTOSS Europe. The Sociely is supported by a uoss-section of industy, overs86n by the Corporate Llalgoll Commlttee, Th8 SoaelYs mulli-liered corporale supporter scheme provides a forum for ￿•WaY dialogue between the Society and industy across issues including Iherapeullc d8velopmenl regulallon, Much of our work takes ￿a¢? In conjunclion wlh Palienl Support Groups who repr688nt patlants wlth ondocrlne condltlons. The Society actively works wlth 18 affillaled patient support groups who attend our events and ¢onlrlbute to guidance. Funding Is made avallable lo these groups vla a grant schem6 lo support attendance at our events and to carry out $pe¢tfi¢ patient projeKIs. Volunteers The Soclety is largely run by members- suantlsls. cllnicians and nurses who volunteer Ihelr lirne and expertise lo Garry out and continually develop Sociely a¢llvili&s. Approxlmalely 150 members 5110 commillees, over 100 members and r￿n-MeMbers currently seNe on Journal edllorlal boards, and many MO￿ as61sI wlth programme development for our meetings, 88 speakers and chairs, and wlth other aclivllies. The Soclety is Immensdy graleful to all these volunteers for Ih8lr tireless work. The Charity doe¥ not part8ke In any fundraising acuvitios, no third paty fundralsers are used and there were no Gornplainls in Ihe year rdating lo fundralsing. Su¢¢•ss88 In 2022 Overall, the Soclevs portfolio of actlvtties is developed in line wlh five broad objeclivos: 1. Rettultlng the next generation 2. Supporting career developmenl al at5 stages 3. Selllng the highest standards 4. Fadlitaling and creating knoWedge exchange 5. Collaborating within and beyond the endocrinology community R•cruiting thg noxt generation In 2022, seven new Leadership and Development awrdrds were made through the compelitlve appllcation F￿Ss to emerging leaders within endoc¥inolcgy. A tM>day residential leadership trainlng programme was run for the second lime for awardees, logelher wlh several fvrther successful appointrnents to joumal Editorial Boards and SOc￿ty committees. In 2022 we ran a 'teachiw in 0ndocrinolog￿ workslK)p at our annual conference to discuss how members could support each other's scientrFic and medical leaching in higher edUcat￿n instilulions, through better sharing of gocmj praclice. In 2022. we orte again worked with the earfy career group of Diabetes UK {YDEFI to organise tho National End(￿rin0109y and Diabetes Taster Day, whth was SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT held vlrtually for the third year njnning. This event aims to $how¢ase endocrinology and diabetes to inspire undrfferenlialed medical trainees and en¢ourage them lo ¢hoo$e E&D as their specialty. The event allracted over 360 participants- up from ar￿1nd 200 in 2021- and gave us an opportunlly lo follow up with them and highlight the value that the Society could offer. Supportlng car•or development at all stages The Society njns a programme of 6venls and grants that aim8 to support the training and professional development of all our membor$ al all career stages. Our ryjrtfolio of Prizes and Awards alms not only lo recognlse and celebrate excellence. tyjt also lo inspire and share best practic8. Durlng 2022 we Carrled on with our webinar programmas almed al clinlclans, nurses and research8r8, which we continued lo deliver free of charge. Overall w8 attracted 2.000 virtual attendees and made the webinars available for members lo wal¢h on-demand with tho Societys members. area. A new 'virtual coffee chat, series was launched in 2022. aimed al bringlng logelher small groups of members lo allow dlscussitsn and nelworklng. Plloted Inlllally wlth Nurse members, thls serles will expand lo other groups in 2023. The Society's annual wnference, SfE BES, attracts around 1,000 endo¢rinologl$l$ each yaar. In 2022- our second in-person conference sln¢8 the pandemlc- we attracted over 1.200 attendee8 In Harrogale and accepted 474 abstracts, thich was the second highest abstract number Sn the history of the event. The Soclely's programme of grants funds research, travel lo confer8n¢es. Publ￿ &ngagemenl and patient support for our members, education an¢J profossional development. Appllcatlon$ 228 Aw8rdod V*lue (4 93,283 12.786 29.881 174.847 7.S03 72,414 4.277 3.900 40,000 24,e21 4,000 2,702 420,194 Tra*1 Gwls SE BES Wislrallon Grants Summer StudentshSps Earfy Career Gr8nl8 Pracllcal Skllls Grant8 Pallent Support Grants Public Engagement Grants Undergradu818 Achl8wmenl Awards M8oUro SL4Vrt Gr8nl8 Equitxnent Grants Nurses Maslgr Mothlg G othor Grants 165 16 12 19 19 19 13 13 13 385 13 Settlng thg hlghost Standards The Society is uniquely placed to set clini¢al guldance on best practice wlhln endocrinology. We achieve this by developing and publishing guidance on diagrK)sis and treatment of endocrine condllions. Alongside guidance documents. our programme of Interdepartmental Peer Review provides an exlernal assessment of dinical g0veMan￿ and service delivery and alms lo Improve services for endocrine patients. In 2022 we conllnved our work supporting clinicians lo best manage endocrine patient care. Alongside redevdoping our Peer Review programme. we launched a new Clinical R850urce Hub enabling Society members to share examples of good dlnical practice to support and inspire others. including patient pathways, training res(MJrces. template communications and much more. SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Facilitating and creating knowledge oxchange The Society's portfdio of journals and research projects. together wllh our events programme. provide effective platforms for galherlng and disseminating new knO￿edge, from the fundamental molecular science of endoGrinology through Iranslalion work to best dinlcal practipE. Tha Societ￿s four owned Iiyjmals and frflh endorsed journal continue to p8rfom well and thelr quallty is reflected in their imp8Ct f8Ctors, shown below. all Of which represent an attractive level of cilalion In the respective field of endocrinology. Journal 2018 2019 2020 2021 2022 Joumul of Endocrinology Journol of Moleculor End¢xrinology Endocrine-Related Cancer 4.012 4.381 4.041 4.286 4.669 3.297 3.744 3.562 5.098 4.869 5.331 4.774 5.678 5.900 Endocrine Connections 3.041 2.474 2.592 3.335 3.225 The Soclety has three research projects now in their final slag8s'. The UK Acromegaly Regbsler Apoplexy audit Antl-lhyrold drug giudy The projects were funded by ￿an18 from the Cllnlcal Endocrindogy Journal Foundallon (formally known as the Cllnical Endo¢rinology Trust (CETII or educatlonal grants from phamiac•uti¢al companSes. The res88rch projects continue lo provide valuable data utllised In present811ons at InlernatSonal meetings and published in peer-reviewed loumal$. In addltlon, several new research prolects ran during 2022: National Obesity Database. funded by NovoNordisk sland8rdisalion of roporling testosterone levels, funded by Besln$ Adrenocortical carcinoma IACCI ServiGe improvement. funded by HRA Phamia Also in 2022, a follow-on research prolect on Congenital Adrenal Hyperplasla was approved lo be coordinated by the Society fmm 2023 onwards subject to confirmation of extemal funding. Collaborating wlthln and beyond the gndocrinology communlty The membership base of the Society increased by 3% over the year Wbth tho total number of pald members al the end of the 2022 subscription year reaching 2.942 compared to 2,850 the previous year. Enéocrinology is a broad discipline. Our subspecialty groups. called Endocrine N¢￿rks, enable the Society to understand the diverse challenges our diSci￿rne faces as well as the culling edge research and practice within each area. The Ne￿rkS act as a platform for collaboration between basic and dirbical researchers, clinScal endocrinologists and endocrine nurses. Th8 Network5 also enable membgrs to engage and find solulions to challenges within thelr swalist fietd of endocrinology. Our eight Ne￿rkS are listed below: Adrenal and Cardiovasojlar SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Bone and c￿CluM Endocrine Consequences of Llving with and Beyond Cancer Endocrine Cancer Metabolic and Obesty Neuro8ndocrinology Reproduclive Endocrlnology and Biology ThyToid The Soclely Is committed to helping people make better decisions about their health by engaglng wld8ly vlth non-specialisls. We disseminate accurate uFFl¢>dale irrfomiation about hormon8s lo the publlc and empower our members wth the Iwls. trainin9 and opportunllies they need lo be able lo deliver effective public engagemenl. Our maln actlvitles include press work, running tralnlng 888siorns for members and managing online resources includlng a public-facing webslta You and Your Hormones. You ané Your Hormones received 334,804 visitors in 2022 and Is promoted by the Associallon of Science Educators. in recognltion of ils value as a 8chools' resour¢o. The website is overs8en by an edllorial board and Iler of conlenl edilors who report inlo the Soclely's Publlc Engagement Commlllee. In 2022, our award-winnlng podcast series'Hormones: the Inside Story, saw over 50,000 streams wlh excellent reviews. A Ihird series was commlssloned sn 2022 and ￿11 launcfv to ¢olncide with European F4ormone Day 2023. Our s¢hools event. held al our annual conference SfE BES, returned In 2022. 40 secondary school pupils had the OppOrt￿nIty lo take part in handS￿n aclivilles desKJned and delivered by our membors, a8 well as lake part In an interactive What's the diagnoslg?, game, followed by 8 Q&A. 5mportantly, this event glvas members a raroe of opportunities lo 'ty out. public engag8ment actlviues In a safe, supportlve environment. Structure, govemanco and managomont The SoGl¢ly was established In 1939. It 15 a company limited by guarantee and was reglstered as oharily In the UK In 1961. Our ben8ficlaries are.. Society members, ¢linicians, researchers and as$o¢lated professionals worklng on the endocrine $￿EteM and relaled di￿lp11nes'. patients and Ihelr support groups., students and., the publlc. Our governing documents are our Memorandum and Articles of A8soGiatioll. $upplemenled by our Byelaw5. Governance To￿aW In 2022 the Society continued lo Implement the govemance recommendations agreed by Council in 2021. Most notably, a member-led working group was set up to examine equality, divgrsily and inclusion practices across Ihe SoGiety. This group wll delNer further recommenéations to Councll In the flrst half of 2023. In addition, th¢ executive updaled the Societ￿s eleciDn proGes$, movlng from nominations-led to an applicalions-led approach. Job descfiptlons were updated with a fuller description of responsibilities as well as the relevant desired experierKe. A strong marketing campaign highlighted the importance of diversity withln the Society's govemance stru¢lure, as well as emphaslslng the personal career beneftis to Individuals taking on a governan¢e role. As a result, the Society received more candidales per vacancy than in previous years, triggering three mernber voles for key POSltion8, as well as a higher number of institutions represented across the entire governance slruclure. In 2022, the execullve also began planning for a Counci14ed Sti￿ety 8tratogy 8etting exerase lo run in the flrst half of 2023. Governance structure SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT The Society is govemed by a Covncil consisling of twelvo Trustees eleded by the membership and a number of ex-officio members. Council 1$ supported by varlous standing committees and. as required, working groups. Elected members of Cwncil fu]fil the dual roles of being charity Trustees and company directors of the Society. Committ68 chairs allend Councll in an 9x-offi￿O capacity. The ex-officio members and observers are nol Trustees or directors and are r￿t entitled to vot&. Vacant position5 are advertised to the membership for applicallons. If there are more applications than vacancies. the full memb8rs are balloted. The new Couwl members are announced al the Society's Annual General Meeting. All new Council members are invited lo attend an inductlon session coverfng govemance, flnance and the Society's Major areas of acllvity- Trustee upjale briefing8 on changes In legislation and regulatlons are provlded at leasl annually, The commill•& $lru¢iure rep)rtlng into Council is as followg: COUNCIL OF MANAGEMENT cliri￿1 E•rly Cw•*r PUW Enwy•m•nt The Offlcers, 8ub-commlttee provides Ilalson with the exoculivts on strategic and management Issues between Council meetings and Is comprised of the Presldenl, General Secretary, Treasurer, and Programm8 Se￿etary. The Treasurer serves a lerm of office of fwe years with the remaining Officer roles complgtlng a four-year lemi of office,. the flrst year of each of th8 Officers, terms of office is In an 'elecl' capacity where they have the opportunity to shadow th& rolo. All other Council mombers serve a four-year term. Committee chairs aro appointed as fotlow8: Commltté• Programme Committee Finance Committee Nominations Committee Chalr Prwamme sec￿lary Treasurer President AJI other committee Chairs are dected folltiwing an open Call to the membership for applications. Members ar8 then required to vole for their preferred rarKlidate if there 15 more than orTre eligiLAe applicanl. All committee membBrs are also now sought via an opon ap￿iCationS proces$. If thera are more applications than vacancies, the committee is asked lo vole on the candidates they feel bring the most in terms of desired skills and experience. The structure and remits of Gommittees are review by Council periodically. Council appoints the Edilors-in-chief of the Sociely-owned I(￿rnal8 and that of the Society's magazine, The Endocnnologist. The Editor4n-Chief of the joumal Endocrine Connections is appointed by Council in conjunction the Execuiive Committee of the c(H)wners. the ELJropean Society of Endcvinology. io SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT All members of Coun￿1 and ils committees gNe their time voluntarily to th8 Soci8ty. Truste88 In shapino our objectives arKI plannlng our actlvlties. the Trustees havo considered the Charity Commission's guldance on public benefit indudiro Publ￿ B8nefft." Running a charity (P82). The Trustees are satisfied that the a¢tivities ot the Society provide public benefit through supporting the advancement of the undw$tandlng of hormones, Improving clinical practice, publishlng high quallty r858arch In Dur journals. organislng m861ings, conferenc6s and networking ev8nts, and informing and engaglng the public in the importance of endo¢rfnology. Remuneration ofkey managementP8rsonn81 Working in close collaboration wlth Councll our Exaculive Team.18d by the Chief Executlve, manag88 the irnplemenlalion and operational deltvery of the Sodews Strategk Obl￿tIveS and gnsLrre8 that the Soc181y Is govemed and managed effe¢tively. Tho Soclely's staff ￿pOrt lo the General Secretary through the Chief Execullve. The SoclelV8 Remuneration Group oversees staff salaries and b8nefits and Sets the remuneration of senior personnel. Tho$¢ are ben¢hmarked againgl similar organisalions and appropriate ONS inflation and wage Increase measures. The Remuneration Group comswises representats'ves of the Offlcers, the Chalf of 810gcientifica Limited and th& Chief Execulive. 81o$clèntlflca Llmltod The Society's activities are made possible by fundirMJ from our wholly owned tradlng subsidlary, Bioscienlifica. Through ils expert13e In publishing, professional wnferency organi5ation and association management, BiosrAenlifica 51renglhens biomedlcal communllie$ to advance $clence and health. Established In 1996, Bioscienliflca Limited returns tts surplus profits back lo the Society for Endocrinology vla Glft Aid and also provides funding for a separat& charitable entity, The 81osclenlfflca Trust. Investment managgment The inveslmenl por￿0110 is managed by irKJepBndent expert8 under a discretionary inv831ment mallagemenl arrangement. In late 2022. in accordanc8 with the Societvs policy on the periodic review of key advisors. the Society appointed Cazenove Capital a8 investment managers, replaclng Brewin Dolphin. There are no reslriclions on the chartty's pow lo invest. The Investment strategy 18 sel by the Trustees and takes into account Incom8 requirements, the rlsk profile and the Investment manager's vlew of the market prospects. The policy Is lo maxirnise lolal relum through a divers(r￿d prfolio whilst providing a level of income advised by the Trustees from lime lo lime. The Society operates an Ethical Investment Pollcy, which excludes irnvestmenl in companies that do not conform lo the ESG requirements of the Schroder Mulli-Assel Fund in which the Soryetls funds are invested. Prohibited investments include the tobacco, alcohol, weapon system and arniamenls. arKI garn￿l￿g industries. Investments in companies engaged in the supply of food and drink products shown 19 contribute lo obesity of consumers are monitored closely for evidence that Ihe companies concemed are aCt￿alY engaged in programmes to Imwove the s¢xietal impact of their products. The Investment brokers prepare portfdio Valua￿'On reports on a monthly basis in addition to more detailed quarterly reports for Trusloes indude comparison wlh the appropriate benchmarks. Addillonal reports may also be prepared for each Finance Committee meeting. The Finance li SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Committee meets three limes a year arKf the investment manager nonnally attends al least on meeting. The value of listed investments f611 to £4.265k from £4.860k during the year as a result of th8 hlgh level of volatility in world financial markets during 2022. The portfolio eXper￿nCed unrealised losses on ir)veslment8 held at the year-end of £392k. The total inveslmenl Income from the portfolio for the year was £129k. Cash reserves for the Society ané Bioscientlf￿8 Limited together stood at £1,954k al the ye8r-ené. Thls includes cash h&ld on beh￿f of thlrd parties. The investrnents of the Main Fund are shown in note 14 to the accounts. Flnan¢lal rèvl Flnancl81 ove￿1&w Total group Income for the year was £6.3M12021 £6.2MI. and total group expendllure amounted lo £7.QM {2021 £S.8M}, 18aélng lo a nel def￿11. bef￿ Investment galns. of £0.7M12021 $urplus £0.4MI. The Society set a deficit budget for 2022 of £343k, which look into account reserve levels al th8 start of the year, a predicted reduction in the Gift expected from BiosGienlrfica. and the desire to éellvgr a full program of events and support lo members. The main source of funds for the Soci8ly derfves from it5 journals, received through Grfi Aid from Bioscienlifica Limited. The Society publication8 conllnue to perform strongly flnancially, despite the 8ddltlonal pressures Imposed on ac8demic Ilbrary budgets by COVID, off the back of 6xcellenl edilorial performance, and accounted for 620k of the Society's charitable aclivlties (202161%). The Gift Ald generated by Bloscientrfica Llmlted accounled for 170h12021390/0) of Income from trading actlvitles. the reduction being. primarity, the result of a £330k bad debt provision in eiosclenlifica. Soclety event Irtcome from ddegates and sponsors Increased lo 64% of totsl Soclely In¢omo12021 46Vu) as the annual meeting look place on a physical basis for the secorMI lime followlng the liftlng of COVED reslrl¢Uons, and generated a gross Su￿lUs, before overheads and grant ¢08ts. of £114k12021 £27kl. Other membership services account for £1,417k of charitable expendilure12021 £1,195k) and Gover the managemenl of the membership, netr￿rks, public and media activities, professional and career, prizes and aw8rds and nurse actfvilies. Grants continue lo be a major part of the support lo the membership with £420k awarded during the year (2021 £337k>. R&servgs pollcy To date, funding ha$ been derfved malnly from surpluses from publishing and event management activities through the Ifading ¢ompany. in¢ome from membership, and Ihe Sociely'$ own inveslmenls. The reserves policy assum85 that, in lh8 event of a severe financial crisis, the Society would require sufficient funds lo run on a golng concern basis for a tsvo-year p8ric*J, during which tlme the So¢igty' poslllon would be evaluated. Existing projects would be financed for up lo years at a level basod on prforftles a￿eed by Council. In the event that no viable alternatlves for financing could be identified, the Society would be wound up. 11 has been assumed that the sale of the office premise8 would provide sufficl6nt funds lo cover any assouated costs. The Trustees reviewed the reserves policy in July 2022. and C£*nfirmod that. based upon a two-year, rlsk-based reserve requirement. the target reserves figLtre should be sel al £2.85M {previou51y £3.44MI. The figure for readily available reserves at 31 December 2021 was £3.97M {31 Dècèmber 2021 - £S.03MI. exceeding the target reserve requlremenl by £1.1 M. The Trustees anlicipale setting éeficit budgets for the next 3 years. representing an affordable level of support and development opportunities for membets, against a lower level of expected Gift Aid from the trading subsidiary. The total funds as at 31 December 2022 are £5.64M12021: £6.73MI of which £0.52M are reslricled {2021: £0.53). 12 SOCIETh FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Biosclenlifi¢8 Limited Bioscientrfu Limiled's profft before Grft Aid of £587k {£442k low than budget) repr8s8nls dlsappointing F)erformance. even in the light of the challengeg faced by Biosclenlrfica in each of its trading divisions during 2022. Profitability was reduced in 2022 by the need lo make a bad debt provision of £330k, following the commencement of administrab'on proceedings for one of Biosuenlifica's dislrlbulion agents. Bioscienlifica generates funds for the So¢i8ty by providing products and s8rvlce8 lo thlrd parties In areas where the Sociely's staff have expertiS8. This also allows cosl-effective sharing of ov6rheads. The main areas of activity are publlshing, event management and a55oclation management wth Ihe majority of clients belng scientific and medical soclelies, the phamiaceutical Industy. and international universities and research institutions. A summary of financial results is shown in note 3 to the accounts, arKI Bioscienllflca wll ramil the full £587k to the Society through Gift Ald. The Biosclentifica Limited business plan forms the basis of current and future activity across tho Company's main division5 and Id@nl"rf1os targets for product development and growih. Buslness strategy is predicated on growth and development In two of the threa business units Ipubllshlng and event management) and on the continuance of major client relationships for. at least, the remaining term of existlng contracts. The Bioscientifica board is cognisanl of the ne8d to repla￿ existing contr8¢t busin&ss with activities that are l•$$ dependent upon periodk renewal, In order to assure the lon*tomi finanaal viability of th6 busln&s$. Rlsk rovlew The Soclely maln181ns a risk reg131er that covers maln busSness rf5ks across the organlsallon and Is rev1ewed ￿gUlartY by the Council of Management. A separate register Is held for B105Gienliflca Llmllgd lo manage specific rlsks for the ¢ompany. wh￿h18 overs88n by the compan￿5 Board of Dlrector8. Key operational rlsks are held across the Group and thus appear on both reglster8. Al the end of Decemb8r, the Soclety identtfled 2 risks daemed to be In a'red, status, i.e. havlng comblnalion of high impact and high Ilk•lShood. These rlsks were: Bioscienlifica being unable lo deliver Gift Ald In accordance with Its fve-yaar plan, affecllng available Society reserves.. and, Th& a$sumpllon conlalned within the 8iosclenlifica business plan that loslng exlsting 8sso¢ialion management, event organisalion and publishing ¢ontracls could be miligaled by cost reduGtiQns, lo achieve a neutral nel financial impact, Is incorrect. and Grft Ald, and Society resorves are negatively impacled as a eonsequence. The Trustees conskler that the key mTtsgalion for Ihe first of these dsks is a h8ighl&ned level of revi8W of Bi08clenlWica progress against ils business plan, wrth course correction as deemed appropriate, and for the second lo ensur6 that appropriate financial measures are taken, across both the SL)Giety and BioSclent￿iCa, In the event that Ix)ntracts are tem)inated eartier than expocled. Of the amber rl8ks the mosl significant were- Loss of kgy Staff As a small organIsat￿n we rely very heavily on key staff. The senior manag8menl team was reorganlsed in the summer of 2017 in part to reduts this risk. lo build in a greater level of succession planning and lo ensure that expert15e and knowledge is more widely shared. The risks are further mitigated through robust business continuity plan5 wilh reviews of organisalional structure and organisalion of workloads lo redLJce the impact of the loss of key staff. Retention is improved through conllnuous work on staff engagement and Ihe S¢xiety once again recewed recognition in the Sunday rimes list of the best 100 nol-for-profit ￿)mPanieS to work fcff. 13 SOCIETY FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Significant loss of pharmaceut￿81 sponscyship The requirements of pharmaceutical companies are changing rapidly in light of developing ragulalio and cha118nges in new product developmenL This is putting pressure on the support they offer lo 18arned societies Ilke us and consequendy on the financial sUPWt we receive from them. We have developed new offerir)gs in partnership Nmth our corporate supwrters and also formed a Corporate Relallons Committee to oversee our relationship wilh industy- Socl8ty inl8grfty compromised Os a result of pharmaceut￿81 Industyr&lations During 2021 a pharmaceutical company, from whom Bioscienttfica had re¢eived lournal advertlslng income, was involved in a high-profi18 Court case conceming inappropriat8 producl-pricing. This caused the Society lo re-evaluate ils existing relationships wlh pharmaceutical companles and strengthen Ils approach lo future engagem8nls lo prevent any repulalional damage to the SoGiely. The level of risk wa5 increased to amber accorf1ingly. 14 SOCIE￿ FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Stat•mont of Trustegs, ro8ponslbllltl8s The Tru$leos (who are also Directors of the Society for the purposes of Company Lawl are responslble for preparing the Report of the directors linduding the Straleglc Report) and the flnanclal slalemenls in a(xordarKe with appllcabl& law and Unlted Kingdom Accounting Standards lun￿@d Kingdom Generally Accepted Accounting Pr&11￿) which give a true and falr vigw of the stale of affairs of th& charitable company and the group and of tho Incomlng resources and appI￿allOn of resources, In¢luélng the Income and expenditure. of the ¢harltable company and group for that perlod. In prep8ring these financial statemenis, the Tnjslees are requir&J to.. Sele¢t sultable a(xounting pot￿leS and them apply them ¢onslstenUy Observe the methods and principles of the Charities Stalemant of R6wmm6nded Practice Make luégements and esllmat8s that ar8 reasonable and prud8nl Slate whether appli¢able UK Accounting Stsndards have been followed. subject lo any materlal departure$ dls¢los¢é and explained In the financial statements. and Prepare the finanGial statem8n15 on Ihe going concern basis unless it 1$ inapproprlale to presume that the charitable company will contlnue In operation The Trustees are r85ponsiblè for the malnl•nanc8 and integrity of the corporalo and flnancial information induded on th8 charitable companVs website. Legislatlon in the Unrted Klngdom governing the weparallon and dlssemination of financ4al statements may drffer from legi81allon in otherlurisdiclions. In so far a$ the Trustees aro awaro.. Ther8 is no relevant audit infomalion of I￿lCh the Socievs auditor is unaware, and Tho Trustees have taken 811 tho st8p$ that they ought lo hav8 takan as TTU$tg9$ to make Ih8m$6lves aware of any relevant audit InfcThaI￿Tr and to est8bli$h that th6 auditor Is aware of that Inlomallon The Trustees are responsible for keepbng proper accounting records that dlsclose, with reasonable aKuracy at any lime, th& linancial posilion of Ihe charitable company and group and to enable them lo ensure that the flnanclal statements comply wth the Companies Act 2006. They are also responslble for safeguarding the assets of the charltable company and group and hence for taklng reasonal￿e steps for the wevenlion aThJ detection of fraud and other Irregularitie8. Fund8 held as CU8todlan trustee on bohalf of other8 Within 8iosGEnlrfica Limite(J are hel(l ftjnds of £280k belonging to cl￿nts of the company. These funds relate lo current contracls which Involve Bioscionlifica cdlecting and holding income on behalf of dienls. which will eithw be utilised lo pay ¢lienl exp8nditur¢ or remilled to tho client. Registered Otfice Starting House 1600 Bristol Parkway North Bristol B534 8YU In approving the Truslees, ReFY)rt, Ihe Truslee5 are also approwng the Strategic Report induded here in their capacity a5 Company Director5. On behalf of the Councll R Andrew General Secretary Dated . 29m612023 15 SOCIETY FOR ENDOCRINOLOGY Audit Reporl Opinion We have audited the financial stalem8nls of &Kiety for Endo¢rlnology for the year ended 31 December 2022 which comprise the Consolidaled Statement of Financial Activllies, the Con501idated and Par8nl Charttable Company Balance Sheets, lh8 Consolidated Cash Flow Slalemenl and the r8lal8d notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. Ir￿uding Flnancial Reporting Standard 102 The Finan¢ial Reporung Standard apFAicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Acc(yJnting Practic81. In our opinion. th8 financial statements.. give a true and fair vi8w of the state of Ihe charftable ¢omp8ny and group's affalrs as al 31 December 2022 and of the charitable ¢ompany and group's nel movement in funds, inGluding the income and expenditure. for the year thon ended.. have been properly prepared in accordance with Unite(l Kingdom Generally Accepted Accounting Practice,. and have been prepared In accordance wlth the requlrements of the Companies Act 2006. Basts for oplnlon W8 conducted our audit in accordance with Internallonal Standards on Auditing IUKI IISAS IUKI) and applicable law. Our responsibilit￿S under tho$8 $tandards are further described in the Auditor's responsibililles for the audit of the financlal statements secllon of our report. Vve are independent of the group in acLordance with the ethical Tequlremenls that are rdevant lo our audit of the financial stalem¢nls In the UK, Induding the FRC'S ElhiGal Slandard, and we have fulfilled our other ethlcal responsibllities in accordance wlth these requirements. We b8li$v& that the audll evidence we have obtalned 13 sufficient and appropnate lo provide a basis for our opinlon. Con¢luslons r6latlng to golng concern In audlting the financial slalements, we have condudod that Iha Trustees, use of the going concern basls of accounting In the p￿Para￿On of the financial stal8ments 1$ appropriate. Based on tho work we have perf￿￿&￿. we hav& not idenllfied any malerlal unc8rlainlies relating lo events or condillons that. Individually or collectively, may cast sbgnificant doubl on the grouplcharitable companyJ'8 ability to continue as a golng ¢on¢em for a perlod of at lea8t Nvelve months from when the financial slalemenls are authorlsed for issue. Our responslbilllies and the responslbililles of the Tnjstees wth respe¢l to golng concern are de8crlbed In the relevant $e¢tions of this report. Other Infomiation The Trustees are responslble for the other Information. The other informalion Comprises the information induded in the Trustees, Report. Our opinion on the financial ststements does not cover the other Information and, except to the exlenl otherw5e explicidy slatèd In our report. we do not express arsy form of a$suran¢e conclusion thereon. In connection wlh our audll of the financial slalemenls, our responsibilty is lo read the other information and, in doing so, consider whether the other infomiation is malerlally inc£Jnsislenl ￿th the flnancial statement3 or our knowledge obtained in the audit or otherwse appears to be materially misstated. If we identrfy such material 1nconsislonci￿ or apparent material mi551alemenls, we are requlred lo determine vthether there is a material misslalemenl in the financial slalemenls or a material misstatement of the other infomiation. If, based on the work we have performed. we condude that there is a material misstalemenl of this other information, we are requlred to report that facl. We have nothing to report in this regard. 17 SOCIETh FOR ENDOCRINOLOGY REPORT OF THE COUNCIL OF MANAGEMENT Audit Report Icontlnu8d) Oplnlons on other mattgr8 proscribgd by the Companles knt 2006 In our oplnion. based on the work undertaken in the course of the audit: the information given in the Trustees. Report {which incorporates the strategic report and the directors. report} for th8 financial year for vthich the financial statements are prepared is ¢on$lslent with the financial slalements,. arKI the Trustees, Report (which incorporates the strategic report and the directors, report) has been prepared in accordanc6 vthh appluble legal requirements. attgrs on whlch we are requlred to report by exception In the light of the kllo￿edge and understanding of the group's and the parent charitable company and Its environment obtained in the course of the audit. we have not identified materlal mis¥tal8menls in the TnJst8es' Report {whlch Incorporates Ihe strategic report and the directors, report). We have nothlng to report in respect of the followirKJ matters in relation to whlch the Companles Act 2006 requlr8S LIS to report to you if, in our opinion: adequale accounting records have not b88n k8pi by the parent charitable company., or tho charitable ￿MpanY financlal Statements are not in ag￿ement with the accounllng record8 returns,. or certaln disclosures of Trustees. remuneration spedfied by law are not made,. or we have not receiv8d all the infomiation and explanat￿nS we require for I￿r audll R8sponslbllltl•s of trustees for tho flnanclal stat¢ments As explained rnore fully In the Trustees, responsibililios statement on page 15, the Trustees (who are a150 the dlreolors of the charllable company for Ihe purposes of ¢ompany law) are responsible for the prgparalion of the financial slalemenls and for being satlsfie(I that they give a Irue and fair view, and for such Internal control as th8 Trustees determine is necessary lo enable the preparalion of flnancial statements that are free fr¢)m material misslalement, whoiher due to fraud or error. In Pfeparlng the fln8nclal slatemenls, the Trustees are responsible for assessSng the group's and parent charllable company's abillty lo conlinue as a going concern. disclosing, as applicable, mallers related to golng concem and using the going concern basls of accounting unless th8 Trustees ellher Intend lo liquidate the charila￿e company or lo cease op6ratlons. or have no reall81ic all6rnative bul lo do so. Audltor'8 rosponslbllltle8 for the audlt of the finan¢ial 8tatomonts Our objectives are lo obtaln reasonable assurancg aboul whether the financial slalements as a whole are free from material mi$sl8tement. whether due lo fraud or error, and lo Issue an auditor's roport that includes our opinlon. Reasonable assurance is a high level of assurance. bul18 not a guarantee that an aud51 conducted In accordance with ISAS {UKI will always detect a material misslalemenl when il exists. Misstalemenls can arise from fraud or e￿Or and are considered malerlal if, individually or in the aggregate, they could reasona1￿Y be expecled to infiuence the economic declsions of users taken on the basis of these financlal statements. Irregulartties, including fraud, are instances of non 344 Cash flow$ from Inv•stlng actlvltle6: Dlvldenés and Interest Purchase of property, plant and equipment Pro¢8ed$ from sale of Investments Pur¢ttase of Investments Movement in cash awai1Sng Investment Not cash provlded by Investlng actlvltlos Sal8 of property a88et held for rosalo Movemont In Long Terni Loan¥ 129 143) 1.354 {1,4401 52 52 93 1,062 {1.175} (32) 136) (29) Change In cash ar￿ &95h oqulvalenls in Ihe reportlng period 14761 283 Cash and Cash equlvalenls at the beglnnlng of th8 r8POrting period 2.430 2,147 Cash and cash ￿U1val0ffttB at tho end of tho reporting pèrlod 1,954 2,430 a) Roconclllatlon of net Income to nfrt cash flow Ngtloxpondlturellincome for tho year las por the AdJu3tmgnt¥ for: Depreciation and amortisation charges Losse8 I (Gains) on investments Dlvidends and interest from investments Dgcrea8el{Increasg1 in debtors Increase in creditors Ngt cash provided by operatlng activltles 11,091 > 797 88 429 (129> 237 (26) (492> 97 1422) 193) 304 1339} 344 b) Analy818 of and ¢ash 4ulvalents Cash in hand Noti¢e deposits (less than 3 rnonthsl Total cash and ca8h gqulvalgnts 478 1,476 1,954 535 1,895 2,430 21 SOCIETh FOR ENDOCRINOLOGY Consolidated cash flow ststernent for thg year ended 31 December 2022 Recon¢lllatlon of movement In net debt 1 January 2022 Cash Other non- 31 December Flows cash changes 2022 £000 £000 £000 Cash 1476) 1,954 Borrowlng8 Debt due withln one year (33} (371 {341 Debt due after one year (7521 (7851 1,845 37 {7151 (7491 1,205 1440) 22 SOCIEf( FOR ENDOCRINOLOGY Notès to the accounts for the year ended 31 Decomber 2022 1) Accounting policles al Genoral infomiation The Society for Endijcrinology {Ihe Societf) is a charitable company limited by guarante8 In¢orporaled in England and Wales {co. number 3494081 and registered with the Charity Commlssion (Charlty Registration no. 2668131. The Sccievs registered office address 18 Starfing House, 1600 Parkway North. 8rtslol BS34 8YU. b) 8a$is of proparation The financi81 slalements have been Prepared under the historical cost convention, a$ modified by the revaluation of lisled inveslmenls. and in accordance the Stalemenl of Recommendeé Practice for Charities (Charities SORP - FRS 102 second edition, effective 1st January 2019}. wlth appllcable acc(MJnllng standards IFRS 1021 and the Companles Act 2006. ¢) Bas18 of consolidation The statement of financial activities (SOFA) and balanca 8heel consolldate the flnandal slalements of the charlty and Ils vtholly owned subsidiary undertaking, 81osci•nlrfica Limited. The results of the subsidlary are wnsolidated on a Ilne*y4ine basis. The charity has taken 8xemplion from ￿sentir@ a separate stalomenl of financlal aclivitles under sectlon 408 of the Companies A¢t 2006. dl Golng ¢on¢orn In assesslng the ablllly of the So¢￿ty and Group lo contlnue as a golng concern, the Trusl88S have consldered the Society and Group liquldily position, and r8vi&wed cash flow forecasts for the foreseeable future. For th55 reason, the Trustees continue lo adopt the going concem basis In prepariry the accounts. el Incom¢ Income includes.. 11 Donation3 which are recognised when the charity 15 legally entitled lo the income, receipt is probable, and the amount can be quantified wllh reasonable accuracy 111 Grants and royalties which are accounted for ￿en Ihe charity is legally enlilled lo the income, recelpt is probable, and the amount can be quanirfied wllh reasonabl8 ac¢uracy 111) Investment income recewed during the period Indudes divmlends ané bank inte￿$1, on an accruals basss iv) Subscfiplions which are accounted for on the acc¥uals basi$ and deferrg¢J rf paid in advance vl Sponsorship, event income and other publication income are recognised when delivered fj Expgndlture Experbdilure is inGluded when inGurred and is matGhed wth the relevant income slrgam. Costs of raising fvnds include all Gos16 of the activities of the trading subsidiary (excluding the Soclely-owned publlcations). investment managers, fees and any costs associated with generating voluntary in￿me. Charitable actlvities Include all costs that rdate to the generation of inwme to further the charivs objects. 23 SOCIETY FOR ENDOCRINOLOGY Notes to tho accounts for the year ended 31 December 2022 Support Costs showr in note 9 r8present the indir6Ct costs incurred in provldiTrJ support for all activities of the charity and governan¢e Costs. These have been allocated on the basis of the direct costs of the relevant activty- Governan￿ costs include CouncÉl and commiilee expenses and ststulory and constllutlonal costs. gl Intanglbl8 flxed assets and amortlsatlon Intsngible assets represent comwter software and are stal8d al cost less amorbsalion. Such assels are capilalised where the lolal cosl exceeds £2(Kl. Sothvare costs are amortlsod over 5 years, representing tho oxpecled useful life. h) Tanglbl8 flxed a8sets and dopreclatlon Tanglble fixed asset5 are staled al co81 lor deemed cost) less acujmulated dapreciation and accumulateé impalrmenl losses. Fixed assets are capitalised where the total cost exceeds £200. Depreeialion is provid8d on all langlble assets, other than freahold land, lo write off the cost, 188$ osllmaled residual value of each asset over its expected useful Ilfe on a slraighl-llng basis. The esllmaled useful lives are as follows- Bulldings Flxlures and filling8 Offlc8 equipment '. 50 years .' S to 10years '. 3 10 5 year8 11 Ll8t¢d Invgstmont8 Listed investments ar8 ststed al fair value al the perfod4nd. Galns and losse8 on disposal arKI revaluation of Investments are charged oi creditgd lo th SOFA. Jl Flnan¢lal Instrumont8 - a$8ot$ and IlabllMle8 C8sh 8nd cash equiv818nls Cash and cash equlvalents indude5 cash in hand. deposits hald al banks, other short.lerm highly liquid investments with original maturities of three months or less and bank ovgrdrafls. Bank overdrafts, when applicabla, are shown wllhin current liabilitie5. Debtors 8nd creditors D8blors and credllors wth no staled interest rates a￿ recorded at transactlon price. Any lossos arl8lro from impaimenl are recognised in the Slalernenl of Flnanclal Acllvllies. k) Ponslons The Society contributes to the personal penslons arrangements of certain staff. The assets are held 8eparalely from those of Ihe Scciety In independently adminlstered funds. The conlributior15 are charged lo th8 Statement of Financial Activities on a payments basis. The contributions paid are shown in note 11. l) Forolgn currencles Transactions in foreign C￿￿enCIeS are translated at rates prevailing al the date of the transaction. Bank balances denominated in foreign ¢urrenryes are translated al the rale of exchange prevailing at the year*nd. 24 SOCIEfi FOR ENDOCRINOLOGY Notes to tho accounts for the year ended 31 December 2022 m) Cllent accounts The accounts held separately wlthin debtors ar￿ credilors represent separate fijnds in respect of dients for whom the Sociews subsidrary acls a$ an agent. n) Fund accountlng The funds hdd by the Society are calegorised as: Unreslrl¢tsd IAain Fund- funds which can be used in accordance with the charitable obl¢¢l$ of the Soclety al the discr6lion of the TnJ$leas Desonal&d fvr￿s- furvJ$ Ithich have been PLrt aslde lo be used for a specific purpos8 al thè dlscretlon of the Trustees. There are rK) such funds at 31 December 2022. Restricted fvnds- furKls whlch are to be used in accordance with spoclfi¢ re$trl¢tlon$ imposed by donors or which have b8an raised by tho Soclety for particular purposes as explalned In Note 1910 the ac￿unts. o) Taxatlon The Society is exempl from Income tax and corporation tax on income and gains derived from Its chadlable activities as Ihese aclivlUe$ fall within various exemptlon6 available lo registered charllies. pl Judgement8 In applylng aceountlng pollcles and koy $ourco8 of estimatlon uncortalnty In tho appli¢alion ol the S￿let￿S accounling policies, the Trustees are required lo make ludgemenls, estlmales arKI assumptions about the Ca￿ng amount of assets and liabili118S that are not Tradily apparent from oth&r sources. The e511malg$ and assoclated assumpllons are baseé on hlstorical experionce and other factor8 that are consldered to be r•levanl. Actual results may differ from these esbmales. The estimates and underlw'ng assumptions are reviewed on an ongoing basi5. Revisions to accounliTIg eslilnales are recognised In the perK>d in which the estimate 15 revlsed where the revision affects only that P8riod, or In the period of the revision and future periods where the revision affects both current and lulure pgriod8. Included in the SoueV8 creditors al 31 December 2022 is a provision of £117,000 lo settle any claims in respect of Bioscienlifica client contracts prior to 2017. Thls provision Is calculated as the nel value of all client transactions posted lo the Soclety's ledgers prior lo 2017, and ¢annol be asslgned lo Sp￿lf1¢ c4ienl contracis. Adopting 8 risk-based approach, this provision will be fully released by December 2024. The Trustees do not consider there lo be any other key areas of judgements or estimation in the applicalion of the Society's accounting policies. 21 Income An analysis of Group Income by geographi￿1 location is gwen below.. Yèar to 31112122 Year to 31112121 United Kin￿OM Europe North America Rest of the World 27 43 10 20 100 28 42 10 20 100 25 SOCIETY FOR ENDOCRINOLOGY Notos to the accounts for the year ended 31 December 2022 3) Net Income from tradlng actlvltles of subsldlary The Society owns 1000 ordinary shares of £1 each at a tolal value of £1,000. repre8enling the whole of the Issued share capttal of Bioscientifica Limited (Company No.31W519,. Registered Address.. Starling House, 1600 Parkway North, Bristol, BS34 8YUI. Bioscientifica Limited Ca￿leS out journal and book publishing projects as well as providing conference and other series 10 the s¢leThlific community. A summary of Ihe Iradlng resulls is sel out below. Summary profrt and lo$$ a¢¢ount Yoar to 31112122 Yaar to 31112121 £000 5,136 12,8081 2,328 {1,1051 1,223 26 1.249 11,249) £000 5.192 13,1041 2,088 (1.533) 555 Turnover Cost of sales Gross profll Admlnlstralion Operating profit Interest receivable and similar Income Profil on ordlnary activitles Grfl Ad Profil before taxation Taxatlon Relalned in subsldlary 32 587 (5871 Total a8Sèts and Ilabllltles of th• 8ub8ldlary were: Yoarto 31112122 £000 Year to 31112121 £000 Flxed assets Current assets Creditors.. amounts falling due Total nel astsel$ Ag￿egate 5harg Capltal and 2,456 {2,4081 50 12,495) 50 so 50 The gift aKI for the year of £587k was distributed in total to the Society for Endocrinology during 2022. 26 SOCIETY FOR ENDOCRINOLOGY Notes to the accounts for the year anded 31 Decamber 2022 4> Income from charftablo activities Unregtrlcted Re8trlcted funds nds Yoar to 31112122 Year to 31112121 £000 1.643 £000 £000 1.643 £000 1.697 Publication5 Society events and conferences {8ee below) Other membarshlp sorvices {including 8ubscription8) Grants received 727 727 202 202 235 12 89 101 304 89 2,673 2,798 £292k of reslricled fund InGome wa5 received in 2021. Income from Society events and conferences includes.. Year to 31112122 Y¢ar to 31112121 £000 527 200 727 £000 503 57 The Soclaly annual meeting Tralning and other reglstralion fee9 560 51 Incoma from other tradlng actlvltle• lJnr•8trlctad Restrlcted fund• funds £000 £000 3.370 28 3.398 Year to 31112122 £000 3,370 28 Y6ar to 31112121 £000 3,194 Trading Income from subsidiary Sponsorship and exhlbitions 3.398 3,194 6) Other Incomo Unrestrictgd RestriG19d fund3 fund8 £000 £000 Year to 31112122 £000 Year to 31112121 £000 130 Royalties receNed 121 121 No other Income vrds earned in respect of restricted funds In 2022. 27 SOCIETY FOR ENDOCRINOLOGY Notes to the accounts for the year ended 31 December 2022 7) Ex￿ndItur• on ralslng fund8 Unrestricted fund8 £000 4,093 Restrlctod funds £000 Yoar to 31112122 £000 4.093 Yoarto 31112121 £000 3.348 Trading costs of subsidiary No costs w8r8 Incurred in respect of restricted fund5 in 2021. 8} Expendlturo on char]tablo actlvltlos DSr•ct Grants Id Sup5)0rt Costs (note 9} £000 Year to 31112122 Year to 31112121 £000 543 £000 £000 543 834 1,417 71 2,865 £000 587 833 1,194 75 2,469 Publications So¢iety events and ¢onferenc88 Other membership seryices Soeiely research projects 352 400 548 71 469 1.644 752 2021 Dlroct Grants costs pajd Support ¢08t$ (note 91 £000 Year to 31112121 £000 £000 Publlcallons Soclety events and conf8renGes Other membership seNi¢e$ So¢lely research projects 587 385 503 567 633 1.194 325 75 75 1,530 573 2,469 28 SOCIETY FOR ENDOCRINOLOGY Notes to tho accounts for the year ended 31 Decembgr 2022 8) Expondltur6 on charltable actlvltlos (contlnued) Grants paid are rnade up as follows.. Grants Staff and Yoar to pald other costs 31112122 £000 £000 £000 Year lo 31112121 £000 Grants P8yabl8 to Individuals Travel grants and grants for attendance at meetings and cOnferer￿eS 201 106 109 84 Summer stuéenlship8 Early career grants Tot81 grants payable to Indiv￿ua1S Grants Paid lo Instilutlons.. Pallenl support grants Publlc &ngag8menl grants Undergraduate achievement 8W8rd Regional clinical Cases grants Other grants Tot81 grants paid to institutions.. Total grants paid 12 19 31 22 175 188 232 311 320 274 19 22 22 13 28 79 119 149 489 84 92 366 109 420 40 49 2021 Grants Stafl and pald oth•r costs £000 £000 Year to 31112121 £000 Grants payable to Indivlduals Travel grants and grants lor attendance al meetings and ¢onferfrn¢e$ 84 Summer sludenlships Eady career grants Total grants payable to 1ndN￿u￿1s Grants paid to Instifutk)ns.' Patient support grants Public engagement grants Undergraduate achievement award Reglonal clinical ca3e5 grants Other grants Tot81 grants paid to instittrtions.. Total grants paid 21 22 188 21 167 265 274 15 20 84 31 72 20 92 198 337 366 Gran19 payable to individuals may be made payable lo the workplace for Ihe benefit of the Individual. 29 SOCIETY FOR ENDOCRINOLOGY Notes to th8 accounts for the year ended 31 December 2022 9) Support costs Support costs are all directly attributable lo charitable acttvlties as shown in note 8 and are made up a5 follows.. Y¢ar to 31112122 £ODO 69 276 103 47 138 119 Yearto 31112121 £000 50 280 106 32 122 170 Governance Finance and administration Information lechndogy Mark81ing and communications Human re80urcos Execullve VAT Refund Totsl 752 573 10) Nèt (Exp•ndlturo} I In¢om¢ Thlg18 slated 8fter Charging.. Y8ar to 31112122 £000 88 Year to 3111W21 £000 98 Depre¢ladon ar￿ amorll$alion Auditor'$ remuneration: Audll servlces Accounlan¢y and other seNlces 21 21 111 Stsff costs Staff costs during the year amounted lo.. Yéarto 31112122 Year to 31112121 Salaries 2,673,228 285,264 290,204 3 248 696 2,564,497 254.022 287,853 3 106 372 Social socurity costs Other pension costs The number of employees whose remuneration was wlhin the bands stated was as follows: Year to 31112122 Number Year lo 31112121 Number £60.001- £70,000 £70,001- £80,000 £80,001 - £90.000 £110,001 - £120,000 £120,001 -£130,000 30 SOCIETY FOR ENDOCRINOLOGY Note8 to the accounts for thè year ended 31 December 2022 The average number of full-tlme equivalent employees analysed by function was.. Year to 31112122 Number Y•arto 31112121 Numbor Charltable actlvities 56 56 Adminislrallo 21 22 77 78 The avorage lluMb￿ of total employees was 83 (2021..86). The lolal remuneration, beneflls and pension ¢ontrtbutions pald In respect of key managemonl personnel In tho year was £762.297 (2021: £876.4921. The mèmbers of Ihg Council of Management received no remunerallon for their s8rvrces12021: £nil). Travel and subsistence expenses were relmbursed to 14 curronl and past members of thè Councll of Man8gemenl totalling £3,908 {2021: 14 members, £3.633). The So¢i6ly holds indemnlly Insurance to indemnrfy lh• Society, Its empfoyees and agents in rnspecl of neglect and éefaull on Ih&ir part. The cosl of In$urane6 was £20.481 {2021.' £18,926), 12> Intanglblo ￿$0￿ Group and Offlc• 80ftware £000 2021 £000 Cost: 1-Jan-22 Addillon8 Adjustments 31-Dec-22 Amortlsatlon 1-Jan-22 Adlustmenl$ Charge for the year 31-Dec-22 Net Book Value 31-DeG-22 255 255 31 293 255 254 234 15 272 20 254 21 The adjustment In 2022, of a nel £28k, represents a ￿￿ectiOn lo the daSs￿¢allOn of certain ass&ls between intangible and tsngible assets. 31 SOCIETY FOR ENDOCRINOLOGY Notes to the accounts for the year ended 31 December 2022 13) Tanglble a8sel8 Group and Company Freehold Flxtures land and and bulldln98 flttings £000 Offlce C¢)mpany Development Group equlpment C08ts total £000 £000 £000 £000 Cost: 1-Jan-22 Additlons Disposals Adluslmenls 31-DeG-22 1,767 445 35 2.496 36 37 2,533 38 (152) 328 {1 S21 2,380 {152) 37 2.417 1.767 285 Dgproclatlon 1-Jan-22 Charye for the Ellminated on Adluslments 31-Dec-22 135 150 28 408 11 37 728 73 73 {1241 293 (124) 640 1124) 677 171 176 37 Nét Book Valuo 31-De¢-22 1,S96 1,740 1,740 31-Dec-21 1.632 134 39 1,805 1,805 The purchase of the Socievs Freehold land and buildings in 2018 was part-financed by a loan, for whlch tho assets purchased provide security. Detsils of this loan are 8hown In note 18 to the89 financial slalemenls. 141 Llstod Investmonts Group and ¢ornpany 2022 2021 £000 £000 4,516 3,980 1,440 1,175 (1,354} {1,062} Market value 811 January 2022.. Adéillons Dlsposal$ Movement In ¢ash awaiting Investment Net unrealised Investment gains Market value a131 December 2022 {4291 4,173 422 4,515 32 SOCIETY FOR ENDOCRINOLOGY Notes to the accounts for the year end￿ 31 December 2022 Group and company 2022 2024 £000 £000 The markol value al 31 De¢ember 2022 compris8s Listed investments Cash awaiting Investment 4,173 92 4,515 145 4,660 4.265 The hislorlcal cost of investm8nts ￿d$ £3,998.593 (310erxmber 2021: £3.872.8151. 15) Debtors 2022 2021 Group £000 1.016 Charlty £000 51 Group £000 1,175 Charlty £000 129 Trade and other deblrKs Amounts due from subsidlary Prepayments and accrued income Darivalive A58el Other taxes and so¢lal $e¢urSty 195 570 227 1.514 255 1.751 356 161 Ca$h at bank ond In hand 2022 Charlty £ODO 29 850 2021 Group £000 475 1,476 Group £000 533 1,895 Charlty £000 22 1,347 Bank current accounts Monies held on deposit Pelly cash 1,954 879 1,369 The Group balances indude funds held in respect of th8 activities of dienls of the trading subsidiary. 171 Credltors: amounts falllng due wlthln one year 2022 Charlty £000 34 2021 Charlty £000 33 Group £000 Group £000 33 Bank Loans Trado ¢redilor8 Amounts dLJe to subsidiary Clients, awounls Deferred Income Other taxes and social security Other creditors and accruals 240 174 242 114 1,247 82 1,450 3,168 1,324 23 131 23 296 658 107 82 1,241 3,142 379 762 33 SOCIETh FOR ENDOCRINOLOGY Notes to the accounts for the year ended 31 December 2022 2022 Charity £000 2021 Group £000 Group £000 Charlty £000 D8f8rred Incom8 at l January 2022 1.247 108 1,225 108 Resources deferra in the year Amounts taken lo income in the year 1.324 (1,2471 131 1,247 (1.225) 107 (108) 1108) Deferred income at 31 December 2022 1.324 131 1,247 107 Deferred income largely represents 2023 journal subscription in(￿me received during 2022. 18) Long Torm Loans During 2018 the S￿letY purchased a new corporate head office for £1.7m plus VAT. This was in part flnanced by a 25-year variable rate loan from Nal Wesl bank of £1.1 m. Inlere511s charged on Ihe108n at 1.65Vo over ba$e rate. The loan is $s¢ured by a flrsl charge on th8 head office and a guarantee from 81osclenliflca Ilmiled of £1.1 m secured by a debenture. The repayment schedule for Ihe remalning balance on the long l&m kjan is a8 follow8- Group and Company 2022 2021 £000 £000 Loan repayment year 1 34 33 Loan repaymer)l years 2-5 143 151 Loan repayment years 5+ 572 601 749 785 34 SOCIETY FOR ENDOCRINOLOGY Notès to the accounts for the year ènded 31 December 2022 18) Rostrlctod funds Group and Company Balance at Movement In resources Transfgr 1 January In¢ome Expondlture between 2022 funds Investment Balan¢9 at 31 galnsl Dgcember (losses) 2022 £000 £000 £000 £000 CaHASE Fun Anll-Thyrold Drug Study ACC Service Improvement Obeslty Database Endocrine Nurses N&tWOfk Besins Service Improvement Dlabel88 Insipldu8 AcroNexl Project Marjorle Roblnson Fund 185 89 209 10 (10) 20 20 10 (20) 138) 283 555 73 (20) 138) 523 Group and Company Balan￿ at Movemont In re8oureeJ Tran8for Invostmont Balanco at 31 1 January Incomo Expendlturg bgtweon gain81 DOGomber 2021 fund$ 1108$e$l 2021 £000 £000 £000 £000 £000 £000 CaHASE Fun¢J Anli-ThyroSd Drug Study ACC Servico Improvement Obesity Database Endocrine Nurse5 NeI￿ork Besins Serv￿0 Improvement Marjorie Robinson Fund (1} {4} 254 {69) 186 10 10 20 327 {3) (20) 22 333 331 299 177) (20) 22 555 35 SOCIETY FOR ENDOCRINOLOGY Notes to the accounts for the year ended 31 December 2022 19) Restricted funds (contlnued) The CaHASE fund is used to run a prolect which aims to provide further underslanding of the rare disease called congenital adrenal hypewasta. The Anti ThyToÈd Drug Study fund is used to finance a natlonal survey of patients with anli-thyrold rug IATD) associated agranulocyiosis and fulminant hepatoloxlcity. The ACC serV￿e Improvement project aims lo improve the management of adrenorortical carGinoma by developing a sp6¢lallsl adrenal surgery service model. Mi88 Robinson left a legacy to the Charlly lo provide for research Into pltullary andlor adrenal disease. The Trustees have established a wlicy lo ulilise the Marjori@ Robin50n fund IL) finance up to tmo early career granls in this field each year. The aim of the Obesity Database pmjecl Is to idenlÉfy which patients are being offered barialric surgery together with an assessment of the risks and b￿erits of this treatment. The Endocrlne Nurs8 Network grant has been recelved lo develop an Inleractive digltal version of the Competency FrameK)rk for Adult EndiKrine Nurse8. The Beslns Servlce Improvement project aims to Standar(1ise Ihe processes used for le51oslerona testlng, lo better manage hypogonadism and other ¢ondition8. 20) Unrostrlctod fund8- Group and Company Balan¢0 Movomont In resource¥ at1 lThcom6 Expenditure January 2022 Trafft8l•r Inv•8tm8nt Balanco at botWOon galn 31 funds 11088e81 Docember 2022 £000 5,065 49 5,114 £000 6,123 49 8,172 £000 1.208 5,014 6,222 £000 397 (3771 £000 1392) Main Fund Blosclentfflca (2.271) (4.8371 {6,9081 1392) Bloscienttfica Llmited profits of £587k were transferred to the Company as grft aid12021 £1,249k). 2021 Balance Movgmont in fg#ourco8 atl Income Expgndlturn January 2021 £000 Transfer Inve8tment Balance at bètween galn81(losse81 31 fund¥ December 2021 £000 £000 £000 £000 Company Blosclentlflca Li￿lled 5.550 1,023 (1.848) 400 6,123 49 4.891 (3.913) (9781 49 Group total 5,599 5.914 (5.761) 400 6,172 36 SOCIETY FOR ENDOCRINOLOGY Notes to the accounts for the year ended 31 December 2022 21) Analysls of Group and Company not assets between fund8 Unrestrlcled RgStrlGt0d funds Fund8 £000 £000 21 1,740 3,929 2022 2021 £000 21 1,740 4,265 £000 Intangible fixed ass8ls Tangible fixed ass&ls Listed Investments Assets held for sale Debtors Cash al bank and In hand Creditor8 Long term loans 1,805 4,680 336 1,327 1.954 {3.142) (7151 5.114 187 1,514 1,751 1,954 2,430 (3,142) 13,168) (715} {752} 5,637 6,727 523 Company Unrostrlctod Restrl¢t¢d funds Funds £000 £000 1,761 3.929 2022 2021 £000 1,761 4,265 £000 1.806 4,660 Flxed Assets Listed Investments Investments in Sub5idlary Oeblors and Cash Creditors Long term loans 336 747 1658) (715) 5,065 187 934 {6581 {7151 5,588 1,725 {7621 (7521 6,678 523 Group 2021 Unre8trlcted Restrlcted funds Funds £000 £000 2021 £000 Flxed assets 1,806 4,284 1,806 Llsled Investments 376 4,660 Debtors and Cash 4,002 (3,1681 {752) 6,172 179 4,181 Creditors 13,168} 17521 6.727 Long term loans 555 Company 2021 Unrestricted Rostrlcted funds Funds 2021 £000 £000 £000 Fixed assets 1.806 1,806 Listed Investments 4.284 376 4.660 Investment Subsidiary Debtors and Cash 1,546 (762) {7521 179 1,725 (762) 17521 Creditors Long term loans 37 SOCIETY FOR ENDOCRINOLOGY Notes to the accounts for the year ended 31 De￿rnber 2022 6,123 555 6,678 22) Transfer bètWO8n funds 2022 2021 During the year thè follovlng transfers made between funds.. From th8 M8rJon8 Robinson Fund to." Main Fund lo provide early careor research grants 23) Capital commltments There were no capltal commllments aulhorised but not ¢ontracted al the year-end (31 December 2021.. £nil). 24) Related party transactlons The charity has taken advantage of Iho exeMp￿n avallable under FRS 102 paragraph 33.1 A not to disc108e transacllons entered into between wholly owned mombars ol the same group. Where members of the Coundl of Management are in a p0811ion to exercise 8ignlflcanl Infiu6nc8 they declare Ihelr interest and exdude themselves from any relevant dlscusslons. In extreme cases, where Ihls approach is not sufficient. discussions are held with the indlvidual regarding standlng down from one of the organisalions. No other related party transact￿n8 have occurred In 2022 or 2021. 38 SOCIETY FOR ENDOCRINOLOGY Main Fund Incom• and oxponditure account for year ended 31 De¢emb8r 2022 Year ondod Year ended 31112122 31112121 £000 £000 Nole £000 £000 Income from actlvltles.. Membership subscriptions Event income Royalties receivable Advertising inwme Sundry Income 159 743 138 151 542 50 1.090 937 Expondlture on actlvltlo8: Divisional SalarSe$ Publishing costs Venue and ¢alering costs Biosci8rLliflca managem8nl fees Programmes, ab8lr8Cts and Expenses Marketing Other dlrecl expenses Grants 21 351 18 317 17 74 13 91 337 131 18 138 420 1.683 15931 1,467 {530) 08flclt from actlvltl88 Overhèads Salaries Other staff costs Staff exp8nse$ Premisos cogls Insurance Professional fees Investment manager's fees Prinllng, postage. 8ts11onery and D6pr&ciallon General lax write Off Marketing Bank and ￿edIt card charges Sundry office expenses Recharged 506 151 17 173 27 19 21 604 127 16 143 23 20 21 98 189) 28 41 1278) 19 30 {264) 801 652 Deflclt from Main Fund before investment incoma and galns on Investments l¢arrl•d fovmard) {1.3941 11,1821 39 SOCIETY FOR ENDOCRINOLOGY Main Fund Income and èxpondituro account for year ondod 31 Docembar 2022 Year ondgd 31112122 Year onded 31112121 Notè £000 £000 £000 Doflctt from Maln Fund before investment income and gains on Investments {brought forward) Income from listed inve51men15 Bank deposit interest Gift ald from Bk)sclentifica L5mlt8d (1,3941 {1,182) 117 86 $87 1,249 705 1,335 (Doflcltl I Surplus prior to tran8for8 Transfers from l (lol designated funds Surplus from unrestricted fund before gain5 on investments Nel gain811108ses} on investments Total $urplu• l (dalklt) for tho yoar (689} 153 20 16691 173 13921 400 {1.0611 573 40 SOCIETY FOR ENDOCRINOLOGY Main Fund Balance Sheet at 31 December 2022 2022 £000 2021 Note £000 £000 £000 Flxed A558ts Intangible assets Tangible assets Listed investments Investment In Bloscientrfica Llmtted 21 1.740 3.929 1,805 4,284 5.691 6.091 Currant asset6 Debtors and prepayment8 Bioscienllfica Llmiled Cash at bank and in hand 255 356 (111 1,369 1,714 679 934 Current Ilabllltlgs Income in advance Creditors and accruals Long lerm loans Obeslly database Marjorle Roblnson Fund CaHASE Fund Antl Th￿Qld Dwg Study Dlabele5 Insip*us Study ACC Service Improvement Endocrlne Nurses Network Beslns Service 131 525 716 209 {531 107 751 185 (43) 10 20 1,682 Not Curront Liabilities Total assets less current Ilabllltle8 16281 5.065 32 6,123 Flnanced by: Unreslrlcled Fund 19 5,065 6,123 41