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2024-07-31-accounts

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2024

Charity Number (England and Wales): 270363 Charity Number (Scotland): SC038647

JCS Accountants Limited 5 Robin Hood Lane Sutton, Surrey SM1 2SW

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

Trustees

Prof. Marysia Placzek - Chairman Prof. Tristan Rodriguez - Secretary Dr Thomas Bennett - Treasurer

Charity Number: 270363

Principal Office

School of Biology, Faculty of Biological Science, University of Leeds, Leeds, LS2 9JT

Website

www.bsdb.org

Independent Examiners

JCS Accountants Limited, 5 Robin Hood Lane, Sutton, Surrey, SM1 2SW

Bankers

Barclays, 8/9 Hanover Square, London W1S 1HH

Investment Managers

Baillie Gifford & Co., Calton Square, 1 Greenside Row, Edinburgh EH1 3AN

Structure, Governance and Management

The Society is a registered charity, number 270363, that was originally constituted in 1969 and the constitution was last amended on 13 February 2014. The Society was initially established as the London Embryology Club in 1948; it became the Society for Developmental Biology in 1964, with the first meeting hosted by Sir John Gurdon, FRS, in Oxford. In 1969, it became the British Society for Developmental Biology (BSDB). The Society obtained Charity status on 18 November 1975. The Society is funded by membership subscriptions and also by an annual donation from the Company of Biologists, the publishers of the scientific journals Development, Journal of Cell Science and Journal of Experimental Biology. The Society acts to promote the furtherance of research in Developmental Biology in the UK by holding two annual research conferences and providing grants to its members to attend the Society’s research meeting and additional research meetings. The Society currently has 956 verified Members.

The Trustees hold the offices of Chairman, Secretary and Treasurer of the Society and are appointed by the Society Committee. Each Trustee holds that position whilst serving as an Officer and their term is limited to five years. No Officer of the Society can hold the same office for more than five years; thus a trustee can only be reappointed by appointment by the Society Committee to a new office.

The trustees are part of the eighteen-member Executive Committee which meets bi-annually to agree broad strategy and areas of activity, including consideration of future research meetings, grant awarding policy, investment, reserves management, policies and performance. Trustees are trained through ‘shadowing’ the outgoing trustee in the same post, during their final year in office. Trustees carry out the day-to-day management of the charity with the aid of administrative support in place at their primary academic institutions and a Committee elected by the Society membership (http://bsdb.org/about-us/).

The members of the Executive Committee are elected by the members of the Society at the Annual General Meeting. Each Executive Committee member serves a period of five years and can be reappointed, but only on the assumption of the position of Officer. The Executive Committee has six Officers, Chairman, Secretary, Treasurer, Meetings Officer, Communications Officer and Medals Officer.

Appointment to an Officer position is made by the Committee from serving members of the Committee. No trustee, officer or committee member receives remuneration for their services.

1

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 (continued)

Structure, Governance and Management (continued)

The members of the Executive Committee for 2023-2024 were:

Prof. P. Martin - Chairman (incoming Prof. M Placzek, since Spring 2024) Prof. T. Rodriguez - Secretary

Dr C. Andoniadou - Treasurer (incoming Dr T Bennett, since Spring 2024) Prof. Shankar Srinivas - Meetings Secretary Dr R. Das - Communications Officer Dr J. Januschke – Medals Officer T. Lebek - Graduate Representative Dr A. Binagui-Casas - PostDoc Representative Prof. J. Green Dr K. Campbell Dr H. Weavers Dr A. Tsakiridis Prof. A. Tucker Dr V. Azuara Dr D. Turner Dr V. Metzis Dr A. Rodrigo-Albors (since Spring 2024) Dr T. Saunders (since Spring 2024)

Objectives and Activities

The objectives of the Society are to promote and advance the research, teaching and public education of developmental biology in the United Kingdom by organising research meetings, awarding grants to individuals and organisations and representing the interests of its members.

The aims of the Society are:

The objectives for the year are shaped by these aims with a view to use the Society’s annual income in the furtherance of the objects of the Society.

2

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 JULY 2024 (continued)

Grant Making Policy

The Society invites members of the Society to apply for grants to attend the Society’s meetings, international meetings or courses. The conditions for these awards and the application forms are available on the Society’s website, www.bsdb.org

Achievements and Performance

The Society’s main function is to run scientific meetings in the field of developmental biology and to provide grants to its members. The Society remains vibrant with a verified paying membership of 956 at the end of July 2024, meaning a steady maintenance of our membership, despite the increasingly challenging environment for securing funding for recruitment of students and postdocs to labs in the UK and worldwide. The financial situation of the Society remains buoyant, despite the turbulent financial markets and our position is allowing us to continue our activities to promote developmental biology, described below.

Report on the financial year 2023-24

As shown in the accompanying accounts for the Society for the period August 2023 - July 2024, this last year has seen us maintain our investment in activities to bring our community together, to which end our Society’s expenditure exceeded our income by £23,260, excluding unrealised gains on investments. This is due to spending our regular activity amounts as well as investing in new activities.

In the lead-up to the previous financial year (2022-23), we still had funds accumulated through an underspend due to the pandemic restrictions. To offset this underspend, we received proportionately lower funding for three years in a row. We therefore significantly increased our activities for the developmental biology community and spend reached pre-pandemic levels. In the last financial year, we therefore applied for the same funding level as during pre-pandemic years which we received. In the current financial year (2023-24), we have therefore also attempted to stabilise our spending at pre-pandemic levels.

The 2024 BSDB/Genetics Society Joint Spring meeting took place in person as a meeting on Developmental Genetics and incurred an overall minor surplus of £980 (total income was £147,637 (2023: £49,118), and total expenditure was £146,656 (2023: £69,475)). However, we invested £12,000 in seed funding for this meeting. This conference was our normal spring meeting, although attendance was somewhat lower than hoped, likely due to the challenging financial conditions, inflationary pressures, and a scheduling conflict with the BSCB Spring meeting (many of our members are also BSCB members). As a committee, we decided not to hold a main autumn meeting, but to invest in a series of smaller, more focussed meetings on specific aspects of developmental biology, or with a more localised regional focus.

The funds received from the Company of Biologists are essential for the running of the Society. The block grant of £35,000 helps us to support the running costs of meetings in spring and autumn, as well as the Gurdon Summer Studentships. Gurdon Summer Studentships ran over the summer of 2024, and we were pleased to have awarded 7 studentships (typically 8 weeks), funded at a competitive rate to ensure we attract the best students, totalling £17,680 (2022: £29,200). Since 2022 when our Society decided to invest in professional management of our membership through Hg3, our administrative costs have increased (£12,753 membership handling cost in 2023-24). Membership handling by Hg3 ensures smooth-running accounting and maintaining an up-to-date database, which are essential for effective members communications and membership status checks to issue grants.

We also receive an amount to spend on CoB/BSDB travel awards to help towards the costs of our members’ attendance/travel to overseas meetings of £32,500 (2023: £23,664). 37 CoB Travel Grants to attend foreign meetings were awarded, totalling £16,270 (2023: £25,505). 29 BSDB Travel Grants to attend the spring meeting were awarded, totalling £24,874.

We typically receive a dedicated PI Support Grant, out of which 8 PI Support Grants were awarded in 2024 totalling £4,919 (2023: £5,850). A contribution of £20,000 to this fund was received in 2024 (2023: nil). We are also grateful for a dedicated award to support travel to practical and training courses. 6 Practical Course

3

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 (continued)

Report on the financial year 2023-24 (continued)

Grants were awarded in 2024 totalling £5,720 (2023: £2,411). A contribution of £10,000 to this fund was received in 2024 (2023: nil) as this was deemed to have a remaining underspent since pre-pandemic funding (£5,000 awarded in 2020). This fund allows us to support travel at a higher amount than normal, which is necessary given the often-prohibitive cost of practical courses.

In 2022 our Society launched a new initiative, the BSDB Disability Support Grant, to help members offset costs due to disability, incurred to participate in the Spring or Autumn BSDB meetings. No grants were applied for awarded in 2023-24 (2022-23: 1 grant awarded, £200). No grants were applied for or awarded for our previously launched Childcare Grants (2022-23: 5 grants awarded, £1,101). We believe such initiatives, promoting and enabling inclusivity are worthwhile to maintain long-term, but recognise the need to better advertise the existence of these initiatives.

Our Legal and General and Baillie Gifford funds, the main vehicles for the Society’s reserves have once again yielded unrealised gains; The Legal and General investments increased by over 25.4% in unrealised gains, the Baillie Gifford funds increased by 5.7% (combined gain between both funds 11%). This is in line with current international market trends, having reached their pre-pandemic value, and we hope that a continued upward trend will see our assets grow in the longer term. The Society continues to have a healthy reserve to cope with unforeseen events such as the cancellation of a meeting as previously experienced during the pandemic. The reserves continue to allow us to invest in new activities to promote developmental biology, without any significant threat to the core business of the Society. The other expenditure items were in line with previous years.

Public Benefit

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The Society aims to promote and advance education of developmental biology in the United Kingdom. We provide a general public benefit by increasing awareness, knowledge and education of the science behind the embryonic and post-embryonic development of plants and animals. In particular we facilitate the training of scientists and advancement of knowledge by organising scientific research meetings and support young scientists by provision of grants to attend research meetings and courses, as well as summer studentships. Through this we increase the UK’s knowledge and expertise and so provide public benefit. The majority of our income is returned as grants to developmental biology scientists who are members of the Society. This restriction of beneficiaries is to ensure that funds are made available to those in a position to best further the Society’s aims. The Society charges a membership fee of £15 for trainee scientists and £35 for professional members. These fees provide us with an income that we distribute to further our aims.

Risk Management

The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks. The trustees consider variability of income from membership subscriptions and the reliance on the donation from the Company of Biologists as the major risks. We also commit funds to organising meetings and there is always a risk of event failure due to activities beyond our control (pandemic, air travel, weather related, etc.) which would lead to the Society having to honour these commitments and subsequent loss of income. The Society regularly reviews membership numbers and takes this into consideration when planning the levels of grants it may make and when setting registration fees for Society Meetings. The Society maintains sufficient reserves that it may operate for at least three years should the Company of Biologists not renew its annual donation. We have also increased the number of joint meetings we hold with other academic societies (both in the UK and abroad). This both increases the potential market for our meetings and enables us to share the financial risks. This has so far proven to be a successful strategy. We have sufficient reserves to ensure the Society can function for at least 3 years in the event of a major deleterious event.

4

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 JULY 2024 (continued)

Financial Review

The Society is reliant on the income from its members and the grant it receives from the Company of Biologists. The membership income is remaining relatively steady. We have made concerted efforts to update our membership database and to encourage lapsed members to pay subscriptions, and membership subscriptions have not increased over this time period (2011-12 income £32,392; 2012-13 income £33,394; 2013-14 income £36,545; 2014-15 income £34,093; 2015-16 income £34,075, 2016-17 income £34,600, 2017-18 £36,204, 2018-19 £35,145, 2019-20 £34,404, 2020-21 £31,494, 2021-22 income £31,591, 2022-23 income £30,544; 2023-24 income £29,670). The CoB provides a grant in support of the Society to £35,000. This level of income allows us to maintain our charitable activity, achieving our aim of awarding grants to all our members requesting such assistance. In 2023-24 this was awarded in full. We aim to distribute as much of our income as possible, while maintaining the financial health of the Society.

Investment Policy and Performance

The Society annually reviews its investments which until 2011 were managed solely by Baillie Gifford. In 2011 we used the surplus achieved via our hosting a major international conference in 2009 to increase our investments using a vehicle run by Legal & General (L&G Global 100 Index Trust), an index linked trust, with the aim of spreading our investment to increase security. In addition, using surplus gained over the previous two years, in 2013 we further increased our investment in the Baillie Gifford fund. Both funds are invested in a portfolio with low to medium risk and all returns are re- invested in the fund. There are no restrictions on the Society’s power to invest. The Society held £12,492 in a high interest Barclays account, where the return for 2023-24 was 0.4%.

Reserves Policy

At the year-end, the charity held total reserves of £778,597 of which £74,330 were restricted and £704,267 were unrestricted. The Society maintains sufficient reserves that it may operate for at least two years without any reduction in its charitable expenditure should the Society’s income decline significantly.

Plans for the future

The last few years have seen disruptions to our meeting schedule, with our main meeting occurring in autumn 2023 as the European Developmental Biology Congress. While we returned to having our ‘normal’ BSDB spring meeting in 2024, there will be no separate BSDB meeting in 2025. This is due to Company of Biologists (our parent organization) organising a spring meeting in Liverpool to celebrate their 100th anniversary; both the spring BSDB and BSCB meetings have been subsumed into this meeting. Since COB are meeting most of the costs of this meeting, we plan to sponsor an increased number of student and postdoc members to attend this meeting (approximately £25,000). However, the BSDB committee believe that our membership has a strong preference for the ‘normal’ spring meeting format, in the normal location at the University of Warwick. Not holding this meeting seems to affect our membership recruitment, so from 2026, we aim to stabilise our meeting schedule with a fixed spring meeting in Warwick, ideally in partnership with BSCB. We will continue to award undergraduate bursaries to attract students into developmental biology laboratories over the summer vacation, with the aim of setting them on track for future PhDs. Previous sources of funding for these types of activities have come under severe strain and there is a fear that fewer undergraduates are considering developmental biology as a career option. Outreach activities will be continued by the Society and we will further use our new web-portal to extend our reach via digital media.

Starting in 2022, the Society decided to outsource handling of its membership to a professional company, Hg3, with which the Society has a long-standing relationship with respect to conference organisation. We have experienced an increase in operating costs. To mitigate this, increases in membership fees (£5 increase for trainee scientists, £10 increase for professional members) were agreed at the BSDB AGM in April 2024.

5

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 (continued)

Trustees’ responsibilities in relation to the financial statements

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees follow best practice and:

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity, and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Dr Tom Bennett Treasurer

1 March 2025

6

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY INDEPENDENT EX4MINER'S REPORT TO THE TRUSTEES OF BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY FOR TH￿ y￿A￿ kNLlkL) JI JULY 2024 I report lo the charity trustees on my examination of the accounts of the Trust for the year ended 31 July 2024. Re$ponsibilities and basi$ of report As thc trustees ofthe Trust, you arè rasponsible for tho preparation of the accounts in accordance with the requirements of the Charitie5 and Trustee Investment Iscollandl Act 2005 Ilhe '2005 Act'l, the Charities Accounts Iscotlandl Regulations 2006 las amended) and the Charities Act 2UI 1 1.the 2011 Aci'i. You are satisfieLI that your charity is noi required by charity law to bp aiJditi.rl and have chosen instead lo have an independent examination. I report in respect of tny ex<ifTllllaliuri of you're the Trust'3 aGfjounts as carried out under section 44111 I cl of the 2005 Act and section 145 of the 2011 Act. In carryino out my examination I have followed the requirements of Regulation 11 of the Charities Accounts Iscollandl Regulations 2006 las amended) and the applicable Directions given by the Charity Commission under section 14515llbl of thc 011 Aot. Independent examinerfs statement Since the Charity's gross income exceeded £250,000 yourexaminer must be a member ofa body listed in section 145 of the 2011 Act. I confirm that l am qualilied lo undertake the examination because l am a member ot the Institute of Chartered Accountants of Enqland and Wales IICAEW), which is one of the listed bodies Since the Trust has Prepared ils accounts on an accruals basis and is also registered in Scotland, your examiner must be a member of a body listed in Regulation 11121 of the Charities Account5 (Scotlandl Regulations 2006 las amended). I can confirm that l am qualified to undertake the examination because l am a registered member of the ICAEW which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention giving me cause io beiievetnat In any material respect.. aecounling records were noi kept in respect of tne Trust as requlrecj by Section 44 111 Icil ul 111¢ 2005 Atyl ¢iri Regulation 4 of the Charities Accounts Iscotlandl Regulations 2006 las amended) and section 130 of the 2011 Act", or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the accounting requirements Regulation 8 ofthe Charities Accounts (Scollandl Regulations 2008 las amended) and do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in tnis reporr In order to enable a piupvi uiiUvi¥lcllltJii iy ill Iliè atsiounls to be reached. Miriam Hickson CTA FCA JCS Accountants Limlte¢J 5 Robin Hood Lane Sutton SM12SW Datg.. L¥ |0312ozS

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024

Unrestricted
Restricted
Funds
Funds
Note
£
£
Income from:
Donations and grants
2
64,670
62,500
Investments
3
8,651
-
Charitable activities
4
181,599
-
Total income
254,920
62,500

Expenditure on:
Charitable activities
5
288,897
51,783
Total expenditure
288,897
51,783
Net gains/(losses) on
investments
6
67,830
-
-
-
Net (expenditure)/income
33,853
10,717
Transfers Between Funds
9
2,457
(2,457)

Net movement in funds
36,310
8,260
Funds brought forward at 1
August 2023
667,957
66,070
-
-
Funds carried forward at 31
July 2024
704,267
-
74,330		 Total
Unrestricted
Restricted
2024
Funds
Funds
£
£
£
127,170
65,544
23,664
8,651
9,636
-
181,599
49,118
-
317,420
124,298
23,664

340,680
168,010
33,516
340,680
168,010
33,516
67,830
30,903
-

-
-
-
44,570
(12,809)
(9,852)
-
(1,411)
1,411
44,570
(14,220)
(8,441)
734,027
682,177
74,511
-
-
-
778,597
667,957
-
66,070		 Total
2023
£
89,208
9,636
49,118
147,962
201,526
201,526
30,903
-
(22,661)
-
(22,661)
756,688
-
734,027

8

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

BALANCE SHEET AS AT 31 JULY 2024

Note
Fixed assets
Investments
6
Current assets
Cash at bank and in hand
Debtors
7
Creditors
Amounts falling due within one year
8
Net current assets
Total assets less current liabilities
10
Represented by:
Unrestricted funds
Restricted funds
9		 2024
£
17,264
28
17,292
(4,839)


 £
766,144
12,453
778,597
704,267
74,330
778,597		 2023
£
39,720
26,583
66,303
(22,348)

 £
690,072
43,955
734,027
667,957
66,070
734,027

These financial statements were approved by the members of the Committee on 1 March 2025 and signed on their behalf by:

Dr T Bennett

Prof. M Placzek

9

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1 ACCOUNTING POLICIES

Basis of accounting

The financial statements are prepared in accordance with the Charities act 2011, the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting as modified by the revaluation of investments. The Society meets the definition of a public benefit entity under FRS 102.

Going concern

At the time of approving the financial statements, the Committee have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accountancy in preparing the financial statements.

Income

Expenditure

All expenditure is accounted for on an accruals basis as soon as a liability is considered probable and is recognised when there is a legal or constructive obligation to pay. Expenditure has been classified under the headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.

Expenditure includes attributable VAT that cannot be recovered.

Investments

Investments are included in the balance sheet at their market value on that date. Unrealised revaluation gains are included in the Statement of Financial Activities. Investment income is credited to the income and expenditure account, and is inclusive of any income tax recoverable thereon.

Debtors

Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

10

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 (continued)

1 ACCOUNTING POLICIES (continued)

Funds

Unrestricted funds represent the funds of the charity that are not subject to any restrictions regarding their use, and are available for application to the general purposes of the charity. Funds designated for a particular purpose by the charity are also unrestricted. Designations are shown as a transfer from undesignated to designated funds.

Restricted funds are those amounts given for specific purposes, which may be declared by the donor or with their authority.

Financial instruments

The charity only has financial assets and 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.

2 DONATIONS AND GRANTS

ONATIONS AND GRANTS
Unrestricted
Restricted
Funds
Funds
£
£
Membership
29,670
-
Block Grant: Company of Biologists
35,000
-
Restricted Grants: Company of Biologists
-
62,500
64,670
62,500

NVESTMENT INCOME
Unrestricted
Restricted
Funds
Funds
£
£
UK quoted investments
8,242
-
Bank interest receivable
409
-

8,651
-
 Total
2024
£
29,670

35,000

62,500

127,170
Total
2024

£
8,242
409

8,651
 Total
2023
£
30,544
35,000
23,664
89,208
Total
2023
£
9,429
207
9,636

3 INVESTMENT INCOME

4 INCOME FROM MEETINGS

Unrestricted
Restricted
Funds
Funds
£
£
Autumn meeting
107,780
-

Spring meeting
73,819
-

181,599
-
 Total
2024
£
107,780
73,819
181,599		 Total
2023
£
-
49,118
49,118

11

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 (continued)

5 EXPENDITURE

Unrestricted
Restricted
Funds
Funds
£
£
Grants to individuals
17,680
26,909
Autumn meeting costs
152,743
-
Spring meeting costs
85,438
24,874
Membership handling costs
12,753
-
Film costs
5,342
-
Costs of trustees’ meetings
2,275
-
Prizes
42
-
Office costs and insurance
6,234
-
Focus meetings
2,400
-
Wolpert Memorial Symposium
-
-
Subscriptions
775
-
Refunds of overpayments
50
-
285,732
51,783
Governance – Independent Examination
3,165
-

288,897
51,783
 Total
2024
£
44,589
152,743
110,312
12,753
5,342
2,275
42
6,234
2,400
-
775
50
337,515

3,165

340,680
 Total
2023
£
52,977
18,596
69,475
12,260
25,282
313
1,968
8,436
-
7,900
775
50
198,032
3,494
201,526

No remuneration has been paid to employees, including the members of the Committee, during the year.

During the year, travel expenses and other meeting costs of £1,563 (2023: £313) were refunded to 9 (2023: 2) members of the Committee.

6 FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Listed UK investments
At 1 August 2023
Income reinvested
Net unrealised investment gains/(losses)
Market value at 31 July 2024

Historic cost as at 31 July 2024		 2024
£
690,072
8,242
67,830

766,144

194,557
 2023
£
649,740
9,429
30,903
690,072

186,315

The investments are held in the Baillie Gifford Managed Fund and the Legal & General Unit Trust.

7 DEBTORS

8

Prepayments
Other Debtors
Prepayments
CREDITORS: amounts falling due within one year
Accruals		 2024
£
28
-
28
2024
£
4,839
4,839		 2023
£
24,530
2,053
26,583
2023
£
22,348
22,348

12

BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 (continued)

9 RESTRICTED FUNDS

RESTRICTED FUNDS
Balance at Fund Balance at
1 August Income Expenditure Transfers 31 July
2023 2024
£ £ £ £ £
Louie Hamilton Fund 2,457 - - (2,457) -
Travel Grants Fund 26,937 32,500 (41,144) - 18,293
PI Support Grant 11,676 20,000 (4,919) - 26,757
Practical Course Grant - 10,000 (5,720) - 4,280
Dennis Summerbell Award 25,000 - - - 25,000
Total 66,070 62,500 (51,783) (2,457) 74,330
Balance at Fund Balance at
1 August Income Expenditure Transfers 31 July
2022 2023
£ £ £ £
Louie Hamilton Fund 2,657 - (200) - 2,457
Travel Grants Fund 28,328 23,664 (25,055) - 26,937
PI Support Grant 17,526 - (5,850) - 11,676
Practical Course Grant 1,000 - (2,411) 1,411 -
Dennis Summerbell Award 25,000 - - - 25,000
Total 74,511 23,664 (33,516) 1,411 66,070

The Louie Hamilton fund is restricted to funding awards to enable disabled members of the Society to attend meetings of the Society. These funds were expended in previous years and this transfer reflects this.

The Travel Grants fund is restricted to fund travel grants to enable BSDB members to attend overseas scientific meetings and courses.

Practical Course Grant is a dedicated award to support travel to practical courses and training courses in other countries of the world. The transfer last year was made to meet expenditure in excess of the funds received.

The Dennis Summerbell Award provides support for travel and registration at the Autumn BSDB Meeting.

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BRITISH SOCIETY FOR DEVELOPMENTAL BIOLOGY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024 (continued)

10 ANALYSIS OF NET ASSETS

Unrestricted funds
Restricted funds
Unrestricted funds
Restricted funds		 Investments
Net current
assets
Total
2024
£
£
£
766,144
(61,877)
704,267
-
74,330
74,330
766,144
12,453
778,597
Investments
Net current
assets
Total
2023
£
£
£
690,072
(22,115)
667,957
-
66,070
66,070
690,072
43,955
734,027

11 RELATED PARTY TRANSACTIONS

There were no related party transactions during the year (2023: None), except as disclosed in Note 5.

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