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2021-12-31-accounts

Charity Registration No. 280183

Company Registration No. 0865313 (England and Wales)

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 PAGES FOR FILING WITH REGISTRAR

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs S Baxter Ms J Ashton Mr N Stain Mrs S J Cooper Mrs H Herbert Mr D R Sleeman Mr M Squirrell Secretary Mrs S Baxter Charity number 280183 Company number 0865313 Principal address City Wharf Davidson Street Lichfield WS14 9DZ Registered office Claremont House 1 Market Square Bicester Oxon OX26 6AA Independent examiner Whitley Stimpson Limited Claremont House 1 Market Square Bicester Oxon OX26 6AA

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 12

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The objective of the Society is to advance the science and practice of technical cardiology and allied subjects by the promotion of improved standards of education and training.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

2021 was again a challenging year for SCST and everyone working within the NHS. The impact of COVID-19 continued to be felt across both SCST and the whole of the NHS. Healthcare professionals had to find new ways of working, and innovative ways of developing professional skills. SCST has continued to provide support not only to its members, but also to the wider profession - facilitating colleagues to connect and share information like never before.

Although the normal activities of SCST have still not returned to normal, we have facilitated alternate ways of achieving our goals. All members of Council are unpaid volunteers and have been subject to huge pressures in terms of diagnostic recovery targets. It is testament to their dedication that they have continued to contribute towards the work of the Society despite clinical pressures. Members of Council have met virtually nearly every month in order to carry out the work of SCST, including the planning of future work streams. SCST has continued to develop its strong links with other bodies by attending meetings with the National School for Healthcare Science (NSHCS) and Academy of Healthcare Science (AHCS), as well as the BCS Cardiac Physiology Group. We continue to work with specialist interest groups such as British Society of Echocardiography (BSE), British Heart Rhythm Society (BHRS) and British Heart Valve Society (BHVS).

The Education Committee has worked hard to develop and pilot a Cath Lab accreditation programme together with an educational resource to support it. This is planned for launch in Summer 2022 and will provide support to those cardiac scientists who work predominantly within the cath lab environment. The examinations continue to be successfully hosted by Pearson Vue with very positive feedback from all those involved. The ECG interpretation courses continue to be popular and well attended. The number of lecturers has been expanded to ensure the sustainability of the courses going forward.

The new website continues to develop, with further resources planned for 2022. SCST is still somewhat reliant on social media in order to get messages out quickly and easily, but will start to move away from this over the next year. SCST’s Facebook page in particular has been extremely successful in connecting people working in cardiac science, and in increasing awareness of what we do as a professional body. It is now starting to direct people from Facebook towards the SCST website with the aim of promoting discussion and interaction through the medium of the website.

The 2021 National Update meeting was again hosted on a virtual platform, resulting in the highest attendance. The meeting saw delegates gain insight into ‘hot topics’ by a host of high profile colleagues. The annual SCST Excellence Awards were presented to cardiac scientists who were selected for their contributions to patient safety, innovation and service development.

We continued to be supported by EBS in terms of day-to-day administration, and by BCS in terms membership administration, for which we are grateful. Going forward we encourage all members to seek ways in which they can play an active role within their professional body. No matter how small the contribution, every single one of us is important and is what keeps the Society alive and vibrant and relevant for its members. Together we will continue to be the voice of cardiac science and make a real difference.

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

This has been an interesting year, during which the fortunes of SCST have improved. This is due largely to the move toward 'virtual' meetings, examinations (held at PearsonVue test centres) and courses. The Foundation and Diploma courses performed particularly well. EBS expense was reduced considerably, being replaced by Pearson's own examination costs.

The bad debt provision includes invoices raised between 2018 and 2020. The Trustees view them as being largely unrecoverable and we intend to write off the full amount against the provision in 2022. The actions taken to eliminate this risk by moving to 'payment with order' and on-line booking via Eventbrite has proved extremely successful. Administration has been streamlined with much reduced invoicing and credit control.

Candidates in 2020 were given 'vouchers' in lieu of cancelled examinations (Covid) to set against future rebooked places. This amounted to a liability of £16,710 in last year's balance sheet. PearsonVue recorded the number of vouchers presented for its two rounds of exams in March and October 2021 and this resulted in £6,310 of 'unused' vouchers as this year's outstanding liability. Vouchers must be used by July 2023.

The Scottish and Northern Irish Branches both confirmed no transactions in 2021. The NI branch account just shows a reduction of £16 in bank charges. Thanks are given to the Honorary Treasurers of the SCST branches of Northern Ireland and Scotland for maintaining their respective accounting systems and providing timely financial information.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between 12 and 18 months’ normal expenditure. The trustees consider that the expenditure during 2021 has not been ‘normal.’

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Education Committee Report

The committee comprises a strong membership from across different spheres of cardiac science, which has proved to be a real strength over the last 12 months. SCST has hosted three examination events online. The amount of work involved setting this up in a sustainable and assured way cannot be underestimated, and it is testament to the dedication of the committee members that SCST continues to hold these in collaboration with a third party. Going forward, there will be two examination events each year usually held in March and October.

The courses which were previously held face to face, have now moved successfully to a virtual platform. This seems to be the preferred platform from the feedback we have been given from candidates, but it remains to be seen whether we can deliver some face-to-face courses in the future.

The SCST preceptorship programme continues to go from strength to strength and will be especially valuable to those students whose training has been disrupted over the pandemic.

The work on the Invasive Cardiac Physiology course continues Course content has been finalised with a view to delivering a pilot course virtually in late September and holding an exam in October. The exam will also include a portfolio of evidence to be submitted for marking. We are awaiting feedback from the pilot course and exams to clarify how regularly the course and exam should be delivered going forward.

As ever, huge thanks are given to the members of the education committee who give up so much of their time in order to undertake this valuable work of the Society.

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Plans for future periods

SCST continues to strive to improve patient care by improving training and quality assurance resources. Courses are now able to be held on a virtual platform which has increased accessibility. Examinations are now held at Pearson Vue centres which means more local access for colleagues.

The Cath Lab course and associated examination will expand the portfolio of resource available. Plans are to increase the number of places available on courses, and provide subsidised places for SCST members. Exams will be expanding in order to make them accessible worldwide.

Plans to further support members who would like to attain equivalence from the AHCS will hopefully lead to an increase in the number of people gaining recognition as a Clinical Scientists in Cardiology.

SCST continues to be the voice of all those working within the field of cardiac science in order to gain professional recognition at a national level. The society can only do this with the support of its members and therefore urges them to actively contribute to the work of the Society whenever they are able.

Structure, governance and management

The charity is a company limited by guarantee and registered as a charity under the Charities Act 2011. The charitable company is governed by its Memorandum and Articles of Association. The charity was incorporated as a company on 30 November 1965 and registered by the Charities Commission on 4 September 1980.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Dr B Campbell (Resigned 14 May 2021) Mrs S Baxter Ms J Ashton Mr N Stain Mrs H J Walters (Resigned 2 December 2021) Mrs S J Cooper Mrs H Herbert Mrs J M Skipper (Resigned 1 November 2021) Mr D R Sleeman Mr M Squirrell Mrs E R Wass (Resigned 14 May 2021)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company.

Going Concern

As at the point of signing the accounts, there is a worldwide pandemic of Covid-19. This outbreak is causing restrictions on the population in the UK, which is having an impact in the financial activity of the whole economy. The effects on the UK economy and The Society for Cardiological Science and Technology Ltd cannot be quantified with any accuracy at this point in time but the trustees will continue to manage the charity through this position.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Mrs H Herbert

Trustee Dated: 20 September 2022

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY

I report to the trustees on my examination of the financial statements of The Society for Cardiological Science and Technology (the charity) for the year ended 31 December 2021.

Responsibilities and basis of report

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

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

Independent examiner's statement

We draw your attention to note 1.2 of the financial statements which discloses the charity's ability to continue as a going concern, given the risks and uncertainties of Covid-19.

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

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

Mr J Walton FCA Whitley Stimpson Limited Claremont House 1 Market Square Bicester Oxon OX26 6AA

Dated: 22 September 2022

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

**Unrestricted ** Unrestricted
funds funds
2021 2020
Notes £ £
Income and endowments from:
Voluntary income 3 - 646
Charitable activities 4 115,970 78,855
Investments 5 22 157
Other income 6 - 240
Total income 115,992 79,898
Expenditure on:
Charitable activities 7 60,561 53,647
Material other expenditure 10 3,718 15,300
Depreciation 11 260 -
Total resources expended 64,539 68,947
Net income for the year/
Net movement in funds 51,453 10,951
Fund balances at 1 January 2021 183,966 173,015
Fund balances at 31 December 2021 235,419 183,966

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2021
£
5,282
19,000
242,645
266,927
(32,584)		 £
1,076
234,343
235,419
235,419
235,419		 2020
£
5,300
1,380
199,024
205,704
(21,743)		 £
5
183,961
183,966
183,966
183,966

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 20 September 2022

Mrs H Herbert President

Company Registration No. 0865313

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

The Society for Cardiological Science and Technology is a private company limited by guarantee incorporated in England and Wales. The registered office is Claremont House, 1 Market Square, Bicester, Oxon, OX26 6AA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees' continue to adopt the going concern basis of accounting in preparing the accounts.

A key risk to the future continued going concern of the charity are the risks and uncertainties as to the impact of the Covid-19 outbreak in the UK. As at the date of approving these accounts the trustees have assessed the impact of Covid-19 and are satisfied that these accounts continue to be prepared on a going concern basis.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received.

1.5 Expenditure

Expenses are included in the financial statements as they are incurred. Expenses include VAT where applicable as the charity cannot reclaim it.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment

33.33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.7 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Branches

Where the branches of the society also hold funds, the accounting transactions of those branches are included in the accounts.

1.10 Taxation status

The company is a Charity within the provision of the Income and Corporation Taxes Act 1988 and hence no Corporation Tax is payable.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the director are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Voluntary income

**Total ** Unrestricted
funds
2021 2020
£ £
Donations and gifts - 646

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

4
Charitable activities
Advertising and badge sales
Subscriptions, ECG manual sales, meetings,
examination and course fees		 2021
£
675
115,295
115,970		 2020
£
320
78,535
78,855
5 Investments
**Unrestricted ** Unrestricted
funds funds
2021 2020
£ £
Interest receivable 22 157
6 Other income
**Total ** Unrestricted
funds
2021 2020
£ £
Other income - 240

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Charitable activities

Badge and ECG manual sales
Examination expenses
Council meeting expenses
Telephone
Clerical assistance
Sundry expenses
Printing and stationery
Postage
Accountancy
HoD meeting expenses
Professional fees
Bookkeeping
Computer costs
Other meeting costs
Membership and administration expenses		 2021
£
15
30,596
583
182
3,018
114
699
15
3,420
-
9,485
-
2,131
4,910
5,393
60,561
60,561		 2020
£
12
9,542
3,021
227
1,873
-
2,777
11
2,700
123
726
1,919
10,162
15,161
5,393
53,647
53,647

Charitable activities includes £3,420 (2020 £2,700) of accountancy costs for independent examination fees.

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year. One trustee was reimbursed a total of £1,331 for disbursements incurred on behalf of the charity (2020- four trustees were reimbursed a total of £4,745).

9 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Total - -
There were no employees whose annual remuneration was £60,000 or more.

10 Material other expenditure

Material other expenditure includes rent and bank charges

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

11 Depreciation
Unrestricted Total
funds
2021 2020
£
Depreciation 260 -
260 -
12 Tangible fixed assets
Fixtures, fittings &
equipment
£
Cost
At 1 January 2021 15,468
Additions 1,331
At 31 December 2021 16,799
Depreciation and impairment
At 1 January 2021 15,463
Depreciation charged in the year 260
At 31 December 2021 15,723
Carrying amount
At 31 December 2021 1,076
At 31 December 2020 5
13 Stocks
2021 2020
£ £
Finished goods and goods for resale 5,282 5,300
14 Debtors
2021 2020
Amounts falling due within one year: £ £
Trade debtors 19,000 1,380

THE SOCIETY FOR CARDIOLOGICAL SCIENCE AND TECHNOLOGY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

15 Creditors: amounts falling due within one year

15
Creditors: amounts falling due within one year
Notes
Deferred income
16
Trade creditors
Accruals
16
Deferred income
Arising from examination/course fees		 2021
£
6,310
22,974
3,300
32,584
2021
£
6,310		 2020
£
16,710
2,033
3,000
21,743
2020
£
16,710

The deferred income balance as at the year end represents income received in advance for events such as courses and examinations which have not taken place in the current period.

17 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).