Charlty number: 281330 BRITISH MASS SPECTROMETRY SOCIETY AUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 BRrrisH MASS 8PECTROMETRY SOCIETY CONTENTS Page Rofgrenco and admlni8tratlv• datall8 of th• Charlty, Its Trustees and advtsers Trustees. roport Independent audltoY•' report on tho flnanclal stat•m•nts Staloment of flnan¢l•l 4dvitlos 2-15 16-19 20 Balance gheot 21 Notos to the finan¢ial statemènts 22-33 8RITtSH hlASS SPECTROMETRY SOCIEr REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trust••s N Oldham (Retired 30 September 2024} ARay M B8rrow M McDowall IResyned 12 October 20241 H Chisholm-8ritt R Griffith8 (Resigned 31 January 20241 L Harding L Heaney J Jones A Leney A Lopez-clavijo M Morri¥ R c￿en K Radi C Titman K Hollywood lappoinled 1 October 20241 F Sobott lappoinled 1 October 20241 Charlty reglstsred number 281330 Principal office 25 Burwardsley Way Northwich Cheshire CW9 8WN Independont audltors WR Partner$ Chartered Accountants statutory Auditors Drake House Gadbrook Way Gadbrook Park Northwich Cheshire CW97 8MSS Administrator L Sage Page 1 BRITISH MASS SPECTROMETRY SOCIETY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together wrth the audited financial statements ol the Charity for the 1 January 2024 10 31 December 2024. The British Mass Spectrometry Soeiety IBMSSI is a registered charity Iregislralion numtrjer 2813301. The charity's governing document is ils Conslilulion and Byelaws, adopted in Seplember 1978, wrth further amendments thereafter. RELEVANT INFORMATION The principal office is k)caled at.. 25 Burwardsley Way. Northwich. Cheshire, Cwg 8WN. The Auditors for the BMSS are.. WR Partners, Drake House. Gadbrook Way, Gadbrook Park, Northwich, Cheshire CW9 7RA. The Bankers for the BMSS are the HSBC Bank pk. ObSectlvg$ and activities . Charitable purpose of the charlty The BMSS aims lo advance the science of Mass sp￿trOMetry and lo offer a forum for tspen discussion on all aspects of Mass Spectrometry las slated under item 2 'Purpose' in its Conslf(utionl. b. Main activlti•s undertaken to fijrther the Charlty's purposes for the public beneflt The BMSS Executive Committee is pleased to report that ils efforts lo further kn￿edge and advancement of mass speclromelry, lo maximise impa¢t in its application. and lo publicise the image of this field of science, continue unabated. Feedback from rf(s membership, events delegates, and other organisations and societies with which the BMSS interacts continues lo be positive and there is a good awareness ol the society both amongst individua15 and organisations in the sphere of mass spectrometry. The 8MSS Executive Cornmillee Considers that the society continues lo make a very worthwhile contribution lo the mass spectrometry community in accordance with the objeclwes of the society. The BMSS Executive C￿nrnittee regards that Ihrough th8 running of ils meetings. and the aw8rding of Summer Sludenlships. Research Support Grants, John Beynon Travel and Conference Fund. Carer Support Grants. and Outreach Scholarships, the society provides a benefit lo both Ils members and the wider-ms community in the education and promotion of the Science. Reduced mombership fees for students, unwaged members, and retired members. leading lo reduced meeting registration fees for BMSS-organised as well as certain affiliated society meetings, also ensures that the BMSS is accessible lo all in ils community. In addition, the BMSS website offers access lo all who may ￿qUIre a contact point or information regarding mas5 5pectromelry as a one-off enquiry. The BMSS Le¢lureship helps lo lake ma55 spectrometry out of the existing community and introduce the science and ils applications lo a wider audience. The BMSS Executive Committee remains confident that the society will continue lo play a major role in the field of mass speclromelry wi(hin the UK. This is exemplified by the BMSS'S support of the UKRI funding call. now known as the Critical Mass UK project. in which a BMSS initiative helped lo produce a community-backed, evidence-based vision for the future of Mass Speelrornelry in the UK lo support EPSRC, UKRI. and HMG in the strategic planning, priorilization. and funding gf the science of mass spectrometry in the foreseeable future. Page 2 BRITISH MASS SPECTROMETRY SOCIETY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performan¢9 a. Review of activities In pursuance of its Charilabse Purpos¢, the BMSS carried out the following activities in 2024.. General Meetings General Scientific Meeting IBMSS Annual Meeting 2024- BMSS431'. Note.. Due lo a change In the cycle of the International Mass Spectrometry conferen￿ IIMSCI meetings from every three years lo every years back in 2012. il was decided that the Society could not afford lo just run a General Scientific Meeting only in the years when the IMSC was not oiganised, as had been the case in the past. Furthermore, the decision wa5 taken in mid-2014, that rather than holding a smaller meeting 12-day, single session) in an IMSC year. Il would be in the Interests of the charity lo hold a full annual meeling12.&day, muStiple sessions) irrespe¢tive of whether it was an IMSC year or not. The Society had organised a full annual meeting every year thereafter. In collaboration with the British Society of Proteome Research IBSPRI. the BMSS held a combined full scientific meeting (Super Meelingl in September 2024 al the University of Watwick. A collective Meetings Subcommillee and separate Scientific Subcommittee, steered by committeel director represenlalives frorn both the BMSS and BSPR. and compromised BMSS and BSPR Committee Membersl Directors along with the BMSS Adminislralor, was assembled to organise the event. A selection of high-profile UK-based and international speakers were invited to participate in delivering a Iop-qualily scientific programme, as overseen by the BMSS Papers Secretary and the equivalent BSPR Director. As usual. a vendor exhibition was also held alongside the main meeting. In an effort to reduce oulgoings and maximise the surplus figure, rather than employing an extemal service provider, the management of the 2024 exhibition was again led by the BMSS Meetings Secretary (assisted in part by the BMSS AdminislratOTI. The 2024 meeting was considered lo be a great success by both soeielies. Collaboration with BSPR attracted additional delegates and exhibitors lo the event. The exhibition was well supported with 45 exhibilofs and 450 delegates, and was well received by attendees. A Careers Workshop was also held in Conjunction with the main meeting. This was primarily aimed al providing guidance on how lo secure a role in the field lo sludenl delegates looking lo establish a career in Mass Speclromelry. The meeting included an asynchronous remote access option. The reason for this was ￿0fOld.. lo give delegates who were not able lo attend in-person the opportunity lo access the lectures virtually post-meeling, and lo also provide In-person delegates with the opportunity lo review presentations that they were unable lo attend al the in- person mgeling due lo them attending another session. The BMSS Executive Committee are pleased lo report that the meeting and associ*ed events generated a respectable surplus of jtjsl over £27.9k. The contractual agreement was that BSPR would share 300A of any meeting surplusl deficit. and so £8,375 of Ihe meeting surplus was transferred lo BSPR. It is the BMSS Executive Committee's intention lo begin lo build momentum on the success of this meeting and lo deliver meetings year-on-year with great science as ils heqart for ils Community lo attend and benefit from. Special Interest Group ISIGI Meetings. Several in-person meetings and one webinar were held in 2024 as organised by the following SIG'S." Ambient lonisation, Imaging and MALDI. Biomacromolecular Structure. the London Biological Mass Speclromelry Discussion Group ILBMSDGI and the newly sel up Single Cell SIG, Stable Isolope SIG. The newly incorporated Scottish Bioms Discussion Group also held an in-person meeting. These SIG meetings continue lo allracl P8ge 3 BRITISH MASS SPECTROMETRY SOCIETY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevoments and perfo￿an¢* l¢ontinuodl delegates from Ih8ir respective sub4reas of Ma89 Spectrometry and provide a unique opportunrty for experts lo discuss and share experiences with fellow members of the Mass Speclromelry community. Pagg 4 BRITISH MASS SPECTROMETRY SOCIETY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and perfom7ance Icontlnuedl Other BMSS Meetings.. The BMSS also organised two addrtional meeting5 in 2024.. Scrivens Symposium To Celebrate the life and contribution of Professor Jim Scrivens to the MS communty. This meeting was archilecled lo be a forward-looking event focused on stsle-of-lhe-art of Mass Spectrometry research, Providing emèrging seienlisls with a welcoming & inclusive forum lo articulate their work and network with colleagues. BMSS Monaghan@80 Synopsium - Celebrating the contributions Professor John Monaghan has made lo the BMSS and the wider MS community. This meeting brought together an amazing breadth of science that refelcled the truly eclectic mix of mass spectrometry that Professor John J. Monaghan has explored throLJghoLJI this career. Affiliated Meetings with indirect BMSS Involvemonl.. The society arranged a BMSS-fou¢sed Session al the 34th International Symposium on Chromatography IISC 20241 in Liverpool in October 2024. Other Activities C-mass UK Project.. Context.. In 2019 the BMSS EC fom)ed a subcommittee with the remit to engage wth the wder UK scientific community lo develop an evidence-based vision for the future of Mass Speclrornelry in the UK, and would support EPSRC. UKRI, and HMG in the strategic planning, priorilizalion, and funding ol the science of Mass Speclromelry for the foreseeable future. This BMSS Initiative lo eaplure the community vision has wortKed Steadily through various stages of development including 3 rounds ol an ileralive DELPHI study and a number of fa¢o-to-face meetings (prior lo COVIDI, drawing in participation from UK and inlernalional experts. along with contributions from scientists who, as MS users. have research dependent on the futu￿ developments of this technology. Timeline of activity.. Adivities in 2023.. During this period. represenlalives of the C-MASS coordinating team ¢onsulled UKRI, HEIS, learned societies and industry lo gather support for the project. Support was obtained from 33 HEIS in the form ol letters from senior managers al Provvice Chancellor level and 20 MS manufacturers. Following consuhation wrth Research Councils il was advised that a bid for <£50M from the Intrastruclure Fund would be much more likely to be successful than the original £100M. which had been identified from the DELPHI stLJdy and Statement ol Need developed by 8MSS previously. The difficult decision lo reduce the value of the bid was approved by majority of the coordinating team. In June 2023 the bid lor was submilled lo the Infraslruclure Fund on behalf of the UK MS community (note.. this was nol a bid by the BMSS. bul BMSS a¢ted as a roule to consullinglupdating the community). The bid was laken up and modified by UKRI lo become their application to HMT for funding through vla the Infraslruclure Advisory Committee, who met in November and recomrnended the bid foT funding. Activities in 2024.. In March of 2024 a formal announcement of funding for C-MASS of £49.35M was announced. htlps'.lknw.Ukri.orglnewslmaior-resea￿h-8nd-lnnoVatIon-lnfraS1ructUre-lnVes1Men1-OnnQunCed1. 11 is hoped that UKRI will begin briefings on criteria for openyear period the Vice Chair moves into the role of BMSS Chair. and the outgoing Chair assumes the ex-officio post of Immediate Past Chair. The Imrnediale Past Chair IIPCI offers guidance lo the BMSS Execulwe Commrtee as well as acting as Chair of the Advisory Board of the BMSS in accordance with the BMSS Executive Commillee's directive. Officers hold their ststed period of office lor four years before retiring from the committee, unless taking up another Officer post. General Members serve on the committee fDr four years al which point they step down unless taking up an Officer post. Nominations for election lo the ¢ommillee are sought from the within the BMSS membership. If moro nominations than vacancies are received a ballot is held, with the r8sulls being announced Page 10 BRITISH MASS SPECTROMETRY SOCIETY TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governanee and management Icontinuodl al the next AGM. The BMSS EC may also appoint up lo Ihrg9 Co-opted Members, who servg for one year up to the next AGM. to help with more specialised activities being pursued by the Committee. The BMSS Committee meets a minimum of twice a year in-person (usually four limes a yearl lo review its operation, lo consider any requests lor financial andlor practical assistance from SIG'S or affiliated societies. and lo consider future plans and projects. The BMSS Executive Committee has increased the use of video conferencing over recent years as a means of conducting ils affairs, however, the aim remains for the committee lo meet in-person a minimum of ￿l¢e a year In ex¢eplional circumstances, and for the conlinuily of Society business e.g.. when a decision cannot wail until the next committee meeting. voting maybe carried out by electronic means, however, such electronic decisions require a maiorty approval from the BMSS Executive Committee. as set out in the byelaws and is overseen by the Immediate Past Chair in their capacity of Chair of the Advisory Board. Smaller groups, i.e., 5ubcommillees (Chaired by a BMSS Executive Committee member} and special Interest groups ISIG'S - led by SIG Leaders who musl be Current members of the BMSSI ¢an be set up lo organise and oversee specific aspects of the BMSS aclivilie5 such as education, publicty and marketing, general scientific meetings, or speciali515ubiecl areas ¥Mlhin the area of Mass Speclromelry. The subcommittees and SIGS are empowered to progress vanous plans bLJI must report back lo the BMSS Executive Committee al regular intervals for approval IEDI, policy, budget proposal, posl-meeting feedbackl. The last rnaior review of the BMSS Constitution was approved by the membership al a Special General Meeting held in April 2014. the previous v8rsion with minor amendments having been in place for over 20 years. These minor amends enabled small Changes and Clarilicalions. However. the current Constitution had become outdated over time and did not address some of the more recent Charity Commission requirements. Concurrently, the BMSS Executive Committee had been discussing how best to Drganise the running of the society and encourage greater membership involvement. The combination of the conslilulional amendments arising from both these needs reSu￿ed in an opportunity for comprehensive updating of the conslilulion. Changes Included allowing for More up-lo-dale methods of communication as well as allowing for the predicted future needs of the Society. A handful of minor amendments lo the constitution have taken place over subsequent ygars. The BMSS Committee is mindful that the governing document is due another major review. The bulk of the adminislraliDn for the BMSS is undertaken by the BMSS Adminislralor. whose duties include. bul are not limited lo". lil overseeing the membership database", lill membership liaison, liiil maintenance of BMSS accounts and preparation for audit,. Iivl adminislralive responsibility lor BMSS meetings (including the General Scientific Meelingl,. Iv) and upkeep of the website, amongst other moro general adminislralive functions. The Administrator reports lo the General Secretary and liaises closely with the BMSS Committee lo ensure the smooth organi5alion and running ol the society. The BMSS has an Advisory Board comprising of live members. one of which is the Immediate Past Chair. Of the remaining four Advisory Board members, one musl reside outside of the UK. The Advisory Board provides the BMSS Executive Committee with guidance and advice on items such as major grants and awards made by the Society (see section under A¢tivilieslAchievemenls of the Socielyl, however, all final decisions remain the responsibility ol the BMSS Executive Commrtlee. In pursuance of its charitable purpose, the BMSS runs scientific meetings with the aim of promoting the use of Mass Spectrometry, sharing knowledge in differing scientific application5, and providing a platfofm for students ancl early career scientists to present their work ancl lo network wf(h fellow scientists. These meetings can be either large broad-based or smaller and more focused 'Special Interesl Group, meetings. The BMSS also provides financial support by way of awarding funding Isubjecl lo the member meeting the eligibility criteria lor the grant) lo ils members wrth a particular focus on those studying Mass Speclromelry within the education system, members In the eady days of pursuing a career in Mass Spe¢tromelry. and m@mbers who are nèw to the area of Mass Spectrometry. It also provides funding lo help 5UPPOrt small ￿searCh endeavours IRese8rch Page11 BRITISH MA88 SPECTROMETRY SOCIETY TRUSTEes' REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Structurei governance and managèm•nt Icontlnuedl Support Granl$l and fijnding lo support travel for collaborative research and conference attendance (John 8eynon Travel arKI Conference Fund). The BMSS undertakes a variety of educational activitie8 to promote the scienee of Mass Spectrometry. This includ6S the provision of funding for students undertaking Mass Spectrom¢lry-based prqect wo¥k over the summer months {Summer Sludent8hipsl. Page 12 BRITISH MASS SPECTROMETRY SOCIETY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Plans for future periods Future A¢tNities in 2025 and beyond General activities and eduCat￿nal ventures.. The scientrfic mission of the BMSS continues. As part of ils science and education mission th8 8MSS continues lo opefate a range of grants". Summer Sludentships, Research Support Granls. John Beynon Travel and Conference Fund, (travel grant51, Carers Support Gran15, and the rebranded Frank Pullen Outreach Scholarship", the funding having all been pre- approved by the BMSS Executive Committee. Five Summer Sludenlships have been funded by the BMSS in 2025, three of which have been fully funded by the BMSS and cofunded1501501 between the BMSS and the Chromatographic Society. The Society has also agreed lo financially support three Research Support Grants applications in 2025. During the ongoing Challenge financial climate in both academia and industry, the BMSS Executive Committee believe It is more Important than ever lo support and en￿U[age the scientific endeavours of the MS Community. The BMSS Executive Committee are pleased lo report that SIG meetings continue lo be popular and arran9emenls for the 2025 Genèral Scientific Meeting IBMSS Annual Meetingl are on track. The BMSS Executive committee is looking to potentially submit a bid lo host the International Mass Speclromelry Conference in 2030. In 2025, the Digital Communications Officer was asked lo carry out a full strategic review of the Society's IT sofvare systems with a view lo SI￿amI1n1￿g the society's processes and subscriptions and lo make the Society's Systems more efficient and flexible. This review resulted in the BMSS migrating several of ils systems over to the one Microsoft Office 365 for Nonprofits Platform. M0365 offers a cloUd￿aSed Service, il is able lo support online meeting and webinars, and comes with several apps for organisalion. planning and collaboration e.g. Tearns, SharePoinl. The Digital Communications Officer has been tasked wrth carying out a full BMSS IT hardware review and lo also carry out an assessment of the 8MSS' digital securty. including ils Cyber liabilities. A review of the society management system with the BMSS'S society management system provider, Capability Cloud lo look al inproving security and funclionalily is also due lo lake place. The BMSS Papers Secretary and the BMSS Digital Communications Officer carried out a full review of the BMSS'S online abslracl system and have made several changes lo Improve the abslracl system both al the Ironlend and the review process in the backend of the system. The BMSS will again hold its InlToduclK)n lo MS Course in 2025. The success of the online format in widening participation for Ihe InlrodLJ¢lion lo Mass Spectrometry course means that this BMSS event will remain as an online event for the foreseeable future. Other meetings.. The BMSS will continue lo IoDk to work with anct support other societies and groups in organising collaborative rneetings lin-person, virtually. or hybridl whether they are being organised directly by the 8MSS, by oiganising a BMSS-based session, 01 by providing adminislralive andlor financial support. Mass Matters.. The newsleller will continue lo be used as a vehicle for providing i(s members with eommunily news. scientific articles. and important diary dales. Page 13 BRITISH MASS SPECTROMETRY SOCIETY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Plans for future perlods l¢ontinuodl Governance.. The BMSS Executive Committee will continue lo monrtor ils actNlties and the changing environment of Mass Spectrometry so that il cDnlinues to deliver on ils charrtable purpose. The BMSS Executive Commfftee will also meet ils govemance obligations by ¢onlinuing to hold a minimum of two commrttee meetings and an AGM a year in either a face-to-face or video conferencing fom)al. Adminislralive Support.. The BMSS will continue lo rgview 11$ a¢liviligs and the requirements from the Adminislr810r. Statemont of Trust8es' responsibilities The Trustees a￿ responsible for preparin9 the Trustees, report and the financial statements in ac¢ordan¢e wrth applicable law and United Kingdom Accounting Slandafds (United Kingdom G•nerally AC￿pted Accounting Pradicel- The law appli¢able lo charrties in England & Wales requires the Trustees lo prepare financial slalements for each financial year which give a true and fair view of the state of affair5 01 the Charity and ol its incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial slalemenls, the Tru51ees are required lo". select suitable aeeounling policies and then apply them consislenlly.. observe the rnethods and principles of the Charities SORP IFRS 1021., make iudgmenls and accounting eslimales that are reasonable and prudent.. stale whether applicable UK Accounting Standards IFRS 1021 have been followed. subjed lo any material departures disclosed and explained in the financial slatemenls.. prepare the financial statements on the going concern basis unless il is inappropriate to presume that the Charrty will continue in business. The Tnjstees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charty's transactions and dis¢lose wlh reasonable accuracy al any tirne the financial posrtion of the Charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the piovisions of the Trusl deed. They are also responsible Iof safeguarding the assets of the Charity and hence fgr taking reasonable steps for the prevention and d&teclion of fraud and other irregulari(ie5. Drs¢losure of inforniation to auditors Each of the persons who are Trustees al the lime when this Trustees, report is approved has confirmed that.. 50 far as that Trustee is aware, there is no r¢levanl audit information of which the chariws auditors are unaware, and that Tnjstee has taken all the steps that ought lo have been taken as a Trustee In order to be aware of any relevant audr( information and lo establish that the charrty's auditors are aware of that infomalion. Page 14 BRITISH MASS SPECTROMETRY SOCIETY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Audltors The auditors, WR Partners, have indicated their willingness lo continue in office. The designated Trustee8 will propose a motion reappointing the audi(ors al a meeting of the Trustees. Approved by order of the members of the board of Trustee5 and signed on thoir behalf by.. ARay {Chair of Trusteos) Dalg.. 17 Septembor 2025 Page15 BRITISH MASS SPECTROMETRY SOCIETY INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BRITISH MASS SPECTROMETRY SOCIETY Oplnlon We have audited the financial statements of British Mass Spectrometry Society Ilhe 'charty'l for the year ended 31 December 2024 which comprise the Slalemenl of financial activities. the Balan¢e sheet, the Slalemenl of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard ¥plicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). The financial 51alemenls have been prepared in accordance wf(h Accounting and Reporting by Charities preparing their accounts In accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charilie5." Statement of Recommended Practice issued on l April 2005 which is referrgd to in the extant regulations bul has been withdrawn. This has been done in order for the accounts lo provide a true and fair view in accordan¢e wlh the Generally Accepted Accounting Practice eff￿lIv& for reporting periods beginning on or after 1 January 2015. In our opinion the financial slalements.. give a true and fair view of the slate of the charity's affairs as al 31 December 2024 and of ts incoming resources and application of resources for Ihe year then ended.. have been propedy Prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISA5 IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditors. responsibilities lor the audit of the financial slalemen15 section of our report. We are independent of the charity in a¢cordan¢e wrth the ethical requirements that are relevant lo our audit of the financial slalemenls In the Unrted Kingdom, including the Financial Reporting Council's Ethical Standard, and we have futh'lled our other ethical responsibilities in ac¢ordan¢e with these requirernenls. Vve believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the Trustees. use of the going concem basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have perfomied, we have not identified any material uncertainlEs relating to events or conditions that, individually or collectively, may cast signrficanl doubl on Ihe charills ability to Continue as a going concern for a p&riod of al least twelve months from when the financial 51alemenls are aulhorised for issue. Our responsibilities and the responsibilities of the TTuslees with respect lo going eoneern are described in the relevant sections of this report. Page 16 BRITISH MASS SPECTROMETRY SOCIETY INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BRITISH MASS SPECTROMETRY SOCIETY ICONTINUEDI Other infomation The other information comprises the information included in the Annual report other than the financial slalemenls and our Auditors, report Ihereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial 51alements does not cover the other infomi81ion and, except lo the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other infomialion and, in doing so. cons￿der whether the other inlomialion is materially inconsistent with the financial statements or our knowledge obtained in the course of lh& audit. or olhetwise appears lo be materially misslaled. If we Identify such material inconsistencies 01 apparent material misstatements, we are required lo determine whether this gives rise to a material m1sslalernenl in the financial statements themselves, If, based on the work we have performed, we conclude that there Is a material misslatemenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Matters on whlch we are requlred to report by exception We have nothing lo report in respect of the following matters where the Charrt￿S (Accounts and Report51 Regulations 2008 requires us lo report lo you rf. in our opink)n'. the information gThien in the Trustees. report is inconsistent in any material resped with the linancial statements., or suffi'cient accounting records have not been kept., or the financial statements are not in agreement with the accounting records and returns., or we have not received all the inforrnalion and explanations we require for our audit. R8sponsibiliti8s of trusto8s As explained more fully in the Trustees, ￿sponsibl11t1es statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal Control as the Trustees determine 15 necessary to enable the preparation ol financial stslements that are free from material misstatement, whether due lo frauil or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability lo continue as a going concem, disclosing, as applicable, mallers related to going concern and using the going concem basis of accounting unless the Trustees erther intend to liquidate the charity or lo cease operations, or have no realistic allemalive bul lo do so. Page 17 BRITISH MASS SPECTROMETRY SOCIETY INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BRITISH MASS SPECTROMETRY SOCIETY ICONTINUEDI Auditors. responsibilities for the audit of the flnancial statem&nts We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance wlh the Ael and relevant regulations made or having effect Ihereunder. Our obje¢lives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due lo fraud or error, and 10 Issue an Auditors, report that in¢ludes our opinion. Reasonable assuran￿ is a high level of assurance. b(rt is not a guarantee that an audrt eonducted in accordance with ISAS IUKI will abNays detect a material misstatement when it exists. Misslatemenls can anse from fraud or error and are considered material If. Individualty or in the aggregate, they could reasonably be expected to Influence the economic decisions of users taken on the basis of these financial st8lemenls. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design pro¢edures in line with our responsibilities, outlined above. lo delecl material misslalernenls in respect of irregularities. including fraud. The extent lo which our procedures are capable of d8lecling irregularities, Including fraud is detailed b81ow' The audit team obtained an understanding of the legal end regulatory frameworks that are applicable lo the Charity and determined that the most signifi'cant are those that relate lo the reporting framework Icharilies SORP IFRS 1021 effective 1 January 2019 and the Charities Act 20111. the relevant lax compliance regulations. Health and Safely Regulations ancl the UK General Data Protection RegLJlation IGDPRI. We understood how the Charity is ¢omplying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures and by reviewin9 relevant documentation and Corresponden￿ and considering the resuts of our testing in other areas. We assessed the susceptibility of tho Charills financial statements lo material misstatement, including how fraud might occuf by meeting with key management to understand where they considered there may be susceplibilily lo fraud. Based on our understanding our procedures involved enquiries of management and those Charged with governance, manual journal entry lesling, cashbook reviews for large and unusual rtems and the challenge of significant accounting estimates used in preparing the financial statements. Because of the Inherent limitations of an audit. Ihefe is a risk lttal we will not delect all irregularities, including those leading lo a material misstatement in the financial 51alemenls or non-compliance with regulation. This risk Increases the more that compliance with a law or regulation is removed from the events and transa¢lions r8flected in the financial slalemenls, as we will be less likely to become aware of InStan￿S of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves Intentional concealment. forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al. W￿.fr¢.0 .uklauditorsre This description forms part of our Auditors, report. Use of our report This report is made solely lo the charill5 Iruslees, as a body. in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2008. Our aud11 work has been undertaken so that we might slate lo the charills Iruslees those mallers we are required to stale lo them in an Auditors, report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the charty and ils trustees. as a body, for our audit work, for this report, or for the opinions we have formed. Page 18 BRITISH MASS SPECTROMETRY SOCIETY INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF BRITISH MASS SPECTROMETRY SOCIETY ICONTINUEDI WR Partngrs Chart&red Accountants Slalutory Auditors Drake House Gadbrook Way Gadbrook Park Northwich Cheshire CW9 7RA Dale.. WR Partners are oligible lo act as audf(ors in terms of section 1212 of the Companies Act 2006. Page 19 BRITISH MASS SPECTROMETRY SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrl¢t•d funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities 45.635 259.018 12,328 698 4S,635 259,018 12.328 698 31,356 161.366 10.186 803 Investments Other income Total Incom& 317,679 317,679 203,711 Ex￿ndItLEr0 on: Charitable activities Other expenditure 249,267 62,119 249,267 62,119 146,826 56,427 Total expgnditure 311,386 311,386 203,253 Nèt movement in funds 6,293 6,293 458 R8conciliation of funds: Total funds brought fo*ward Nel movement in funds 508,124 6,293 508,124 6.293 507,686 458 Total fund$ ¢arried forward 514,417 514.417 508,124 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 22 to 33 form part of these financial slatemenls. Page 20 BRITISH MAS8 SPECTROMETRY 80CIETY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Curr•nt ass•ts Stocks Debtors Cash al bank and in hand 13 14 240 19,948 524,919 38.077 662,402 698.639 545,107 Current Ilabllltles Creditor8'. amounts falling due within one year 15 1177.9781 (29,8151 Net cuffent assets 520,661 515.292 Total assets1o88 ¢urr•nt IlabSlltl•8 $20.661 515,292 Creditors.. amounts falling due after more than one year 16 16,2441 17,1681 Total net as80ts S14,417 508,124 Charlty fund$ Restricted funds Unrestricted funds 17 Designated funds General funds 17 17 47.223 487.194 48,900 459,224 Total unre81rtcted funds 17 514,417 $08,124 Total funds 514,417 S08.124 The fin8n¢￿1 8tatemenl8 were approved and authorised for issue by the Trustees and signed on their behall by.. R Owen Treasurer D81e'. 101101202S The notes on pages 22 to 33 form part of these financial ¥tatemenls. Page 21 8RITISH PIASS SPECTROMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General information British Mass Speclromelry Society is a Charity {charily number 2813301, registered wrth Ihe Charity Commission in England and Wales. 11 was established by constitution In 1978 to promote the science of mass spe¢tromelry through the running of ils meetings, courses and other educational aclivilies. The charty5' registered address is 25. BUn￿ardsIeY Way, NOrthW￿h, CW9 8WN. Accountlng pollcles 2.1 Basis of preparation of flnanclal statements The financial slalemenls have been prgpared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Sialemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of I￿land IFRS 1021 and the Charities Act 2011. The financial statements have been prepared lo give a 'lrue and fair. view and have departed from the Charrties (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a 'lrug and lairf view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement ol Recommended Practice effective from 1 April 2005 which has since been wff(hdrawn. British Mass Speclromelry Society meets the def1nilion of a public beneff( enlily under FRS 102. Assets and liabilities are Initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has enli(lemenl lo the income. il is probable that the income will be received and the amount of income receivable ean be measured reliably. 2.3 Expenditure Expenditure is recognised once there is a legal or conslru¢live obligation lo transfer economi¢ benefit lo a third party. rt is probable that a transfer of economie benefff(s will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the lolal of direct costs and shared costs. including support costs inVo￿ed in undertaking each acliwty. Direct costs attributable lo a single activity a￿ allocated directly lo that aclivily. Shared costs which contribute to more than one activity and support costs which aro not attributable lo a single activity are apportK)ned be￿￿een those activities on a basis consistent with the use gf resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expendrture on charitable actwilies is incurred on directly undertaking the activities wh￿h further the CharWs objectives, as well as any associated support costs. Grants payable are charged in the year when the offer 15 made except in those cases where the offer is conditional. such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not t)een mel al the year end are noted as a comrnilmenl, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. Page 22 BRITISH MASS SPECTROMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Icontinuedl 2.4 Interest receivable Interest on funds held on deposrt is included when receivable and the amount can be measured reliably by the Charity", this is normally upon nolificalion of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Stocks Stocks are valued al the lower of cost and nel realisable value after making due allowance for obsolete and slow-moving stocks. 2.6 Debtors Tradè and other debtors are fecognised al the selllemenl amount after any Iradg di￿O￿nI offered. Prepayments are valued al the amount prepaid nel of any trade di5courils due. 2.7 Cash at bank and in hand Cash al bank and In hand includes cash and short-lerm highly liquid Investments with a short malurily of three months or less from the dalo of acquisition or opening of the deposit or similar account. 2.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, il is probable that a transfer of economic benefit will be ￿qUired in settlement, and the amount of the settlement can be estimated reliably. Liabilities S￿ recognised al the amount that the Charity anticipates il will pay lo $etlle th8 debt or th& amount il has received as advanced payments for the goods or service5 11 must provide. Provisions are measured at the best estimate of the amounts roquired lo sellle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts. discounted al the pre-tax dis¢ounl rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance co$1. 2.9 Fund accounting General funds are unrestricted lunds which are available for use al the discretion of the Trustees in ftjrtherance of the general objectives of the Charrty and which have not been designated for other purposes. Designated funds comprise unreslricled funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out In the notes to the financial statements. Investment income, gains and losses are allocated ID the appropriate fund. Page 23 BRITISH MASS SPECTROMETRY SOCIE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlons and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations and grft$ Membership fees 16.350 29,285 16,350 29,285 5,100 26,256 Total 2024 45,635 45,635 31,356 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total fund$ 2023 Registration fees Exhibition fees Course fees Conference dinner 131,817 83.395 29,540 14,266 131,817 83,395 29,S40 14,266 105.640 44,113 11,613 Total 2024 259.018 259,018 161,366 Analysis of split between actlvltles BMSS Annual meeting 2024 Other mèetings BMSS Courses 2024 Total funds 2024 Totsl funds 2023 2024 Registration fee5 Exhibition fees Course fees Conference dinner 107.005 66,244 24.812 17.151 131,817 83,39S 29,540 14,266 105,640 44,113 29,540 14.266 11,613 Total 2024 187.515 41,963 29,540 2S9,018 161,366 Total 2023 148,237 13,129 161,368 Page 24 BRITISH MASS SPECTROMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 Investment income Unrg$lri¢ted funds 2024 Total funds 2024 Total funds 2023 Inler8s1 receivable 12,328 12,328 10,186 Other incoming resources Unre$tri¢t&d funds 2024 Totsl funds 2024 Total funds 2023 European joumal of MS income 698 698 803 Anatysis ofgrants Grants to Grants to Institutions Indlvlduals 2024 2024 Total funds 2024 Total funds 2023 Grants, Provision of grants to assist members to present their researeh al both national and inlemational scienlrfic meetings Grants, Provision of grants lo support research in the field of Mass Speclromelry 22,164 22,164 15,863 32,350 32,350 12,940 32,350 22,164 54,514 28.803 Total 2023 12,940 15,863 28.803 The Charity has made the following material grants to institutions during the year". Page 25 BRITISH P4lASS SPECTROMETRY SOCIE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anaty$i$ of grants Icontinuedl 2024 Name of Institutlon University of York Watwick Universty University of St Andrews University of Exeter Surrey University Cambridge University Universrty of Leeds Universrty of Bristol University of Highlands and Islands Chrrmalographic s￿Iety IRechafge lo co-funding partner} 6,000 3,364 5,000 3,500 3,500 3,200 3.500 3,113 4,673 13,5001 32,350 Analysis of expendlture on charitable activities Summary by fund type Unrestrlcted funds 2024 Total 2024 Total 2023 Advancement of the science of mass Spectrometry Provision of grants lo assist members lo present their research al both national and international Scientific meetings Provision of grants lo support research in the field of Mass Speclromelry Meeting related expenses 33.742 33.742 22.067 22,164 22,164 15,863 32,350 161,011 32,350 161,011 12,940 95.956 Total 2024 249,267 249,267 146,826 Page 26 BRITISH MASS SPECTROMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Oth&r oxpgndituro Unrestricted funds 2024 Total funds 2024 Total funds 2023 Admin costs Postage, stat￿nery & telephone costs Subs¢ripligns Bank fees and card charges Awards & prrLes 44,347 4,439 1,281 9.372 2,680 44,347 4,439 1,281 9,372 2,680 40.855 3,872 1.909 7,505 2,486 Totsl 2024 62,119 82,119 56.427 10. Analysis of expenditure by activities Activities undortakgn directly 2024 Grant funding of actlvities 2024 Support costs 2024 Total funds 2024 Total funds 2023 Advancement of the science ol mass Spectrometry Provision of grants lo assist members lo present their research al both national and international s¢ienlific meetings Provision of gran15 10 5UPPOrt research In the field ol Mass Spectrometry Regi51ralion fees 18.578 15,764 33,742 22.067 22.164 22.164 15,863 32,350 32,350 161.010 12,940 95,956 161,010 179.588 54,514 15,164 249,267 146,826 Total 2023 105,353 28,803 12,S70 146,828 Page 27 BRMSH MASS SPECTROMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Analysis of expenditure by activitles Icontlnuedl Analysis of dlrect costs Advancement of the sclence of mass Spactrometry 2024 Meetlng rela19d ex￿nseS 2024 Total funds 2024 Total funds 2023 Newslettgr Sludenl books Software Adminislralion expenses Venue research and hire Speakerfs expenses Advertisin9 and design 660 2,736 5,481 8,802 660 2,736 5,481 10,728 149,625 9,459 1.410 2,190 5,164 1.445 88.299 6,405 440 1,926 149,625 9,459 899 18.578 161.010 179,588 105.353 Total 2023 9,397 95.956 105,353 Analysis of support costs Advancement of the science of mass Spectrometry 2024 Total fund$ 2024 Total funds 2023 Audit fees Govemance administration BMSS meeting expense 7,095 6,013 2,056 7.095 6,013 2,056 5,520 8,410 740 Total 2024 15,164 15,164 12,670 Page 28 BRMSH MASS SPECTROMETRY SOCIETY NOTES TO THe FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Aud￿Or$. remuneratlon 2024 2023 Fee8 payable to the Charity's audthrs for the audit of the Charty8 annual accounts 4,710 4,320 Fees payable to the Charitls audrtor in respect of. All non-audrt se￿ice6 not included above 2,484 2,280 12. Truste￿, remuneratlon and •xp•ns•s During the year, no Trustees received any remunerats'on or othoT benefrts {2023- £NILI. During the year ended 31 December 2024, tru$lee travel expenses tolalling £504 were reimburned by the harity12023_ £2641. 13. Stock5 2024 2023 Medals 160 240 The cost of medals awarded as an expense for the year was £80 due to one medal being awarded12023 £4901. 14. Debtorg 2024 2023 Du• wlthln onè yèar Trade debtors Other debtors Prepayments and accrued income 6,859 21 29,197 3,938 16,010 36,077 19,948 Page 29 BRITISH ￿88 SPECTROMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEceMBER 2024 18. Credltorn: Amounts falllng due wlthln on• yaar 2024 2023 Trade credftor8 other creditors Accruals and deferred income 151,343 271 26,364 4,819 413 24,583 177,978 29.815 2024 Deferred income at 1 January 2024 Resources deferred during the year Amounts fele•8ed from prev¢ous periods 22,406 14,216 (15,877) 20,744 16. Credltors: Amounts falllng due after morg than on• y￿r 2024 2023 Accruals and deferred income 6,244 7,168 Page 30 BRITISH PMSS SPECTROMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of funds Statement of funds- current year 8alance at 31 December 2024 Balance at 1 January 2024 Income Expondituro Unrestricted funds Designated funds Legacy Funds 48,900 11,6771 47,223 General funds General Funds- all funds 459,224 317,678 {309,7081 467,194 Total Unrestricted funds 508,124 317,678 {311,3851 514.417 The designated 'Lega¢y Fund, has been sel aside to use lo lop up the pre-ag¥eed annual budgets for RSGS and Sss until il is fully drawn dt)wn. ststement offunds. prior ygar Balance al 1 January 2023 Balance at 31 December 2023 In¢ome Expenditure Unrestricted funds Deslgnated funds Legacy Funds 50,000 11,1001 48,900 General funds General Funds all funds 457.666 203.711 1202,1531 459,224 Total Unrestrlcted funds 507,866 203,711 1203,2531 508,124 Page 31 BRITISH MASS SPECTROMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Summary offunds Summary of fund$ -¢urrentyear Balance at 31 09¢gmbor 2024 Balance at 1 January 2024 Income Expenditurn Designated funds General funds 48,900 459,224 11.6771 1309.7081 47,223 467,194 317.678 508.124 317,678 1311,3BSI 514,417 Summary offund$- prior year Balance al 1 January 2023 Balance al 31 December 2023 Income Expenditure Designated funds General funds so,000 457.666 11.1001 1202,153} 48,900 459,224 203,711 507,866 203,711 1203,2531 508,124 19. Analysis of net assets betwoen funds Analysis of net a$$et$ betwgen funds - current period Unrgstricted funds 2024 Total funds 2024 Current assets 698,639 1177,978) 16,2441 698,639 1177,9781 16,2441 Creditors due within one year Creditor5 due in more than one year Total 514,417 S14,417 Page 32 BRITISH MASS SPECTrOMETRY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Analy811 of net assets betweon funds {contlnuedl Analys1$ of not assets between funds - prlor perlod Unreslricled funds 2023 Total funds 2023 Current assets Creditors due within ane year Credf(ors due in more than one year 545,107 129.815) 17.168) 545,107 129,8151 17,1681 Total 508.124 508,124 20. Rolat￿ party transactlon8 Five trustees, L Harding, L Heaney, R Owon, A Lopgz and M McDowall, were awarded grants and studentships from BMSS during the year, amounting lo a sum of £1.89412023.' grants lotslling £7.450 to th￿e truslee81. There were no balance$ outstanding al year end. Pag8 33