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2025-03-31-accounts

Company registration number 01638304 (England and Wales) Charity registration number 285013 (England and Wales)

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees T J Dehling (Germany) (Vice
Chairman)
D Vincentelli (France) (Chairman)
G Johnston (UK)
E Langlois (France) Honorary
Treasurer
M Beloeil-Smith (UK) Vice Honorary (Appointed 21 March 2025)
Treasurer
Secretary Y Liversidge
Charity number 285013
Company number 01638304
Registered office Senate Court
Southernhay Gardens
Exeter
Devon
EX1 1NT
Independent examiner Mr J P Williams BSc ACA CTA
Simpkins Edwards LLP
The Summit
Woodwater Park
Pynes Hill
Exeter
EX2 5WS
Bankers NatWest Bank plc
14 Old Town Street
Plymouth
PL1 1DP
Solicitors Foot Anstey Solicitors
Senate Court
Southernhay Gardens
Exeter
EX1 1NT

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 15

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

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 Society'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 objects of the Federation are to promote the free exchange of information between all those engaged in the science of surveying at sea and related sciences. The Federation acts as an international voice for the hydrography community and its professional individuals and fosters the establishment and growth of new national societies.

The objectives of this charitable company are met by:

The national societies provide similar services of relevance to their individual members.

The trustees (who are also directors of the International Federation of Hydrographic Societies for the purposes of company law) have given due consideration to the Charity Commission's published guidance on Public Benefit as required by the Charities Act 2011 and the above activities are believed to fulfil the Public Benefit requirements of the Federation.

Strategies for achieving aims and objectives

Strategic decisions affecting the Federation are made by the Executive Committee (also named Board of Directors) through their representation of National Society Members. The Board is composed of representative members from the full member Societies. There are currently no Affiliate Members registered.

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

During the 2024-2025 year, IFHS continued to expand and promote its professional accreditation scheme (HPAS), building upon the recognition granted by the IBSC in 2022 and increased activity in the previous year. Focused communications were maintained to highlight the benefits of professional pathways and generate interest in the scheme. Support tools such as webinars and an interactive application tool were continued and further promoted, with the October 31, 2024 intake receiving 11 applications and the early 2025 webinar had around 90 registrations.

Several new HPAS Panel members were approved to ensure representativeness and effective succession planning, including new members from DHyG, HSB, THS-UKI and AFHy.

The Federation also made significant strides in its Education Strategy, which was a key focus during the period. Plans for developing a shared IFHS Education Strategy, initiated in the prior year, progressed with detailed discussions in May 2024 and a dedicated meeting in Rostock in November 2024, with a view to creating a dedicated HPAS Education & Engagement Working Group to support and action initiatives to attract younger professionals to join IFHS Member Societies, among other key strategies.

Following the Hydro24 board meeting, a White Paper was drafted to provide IFHS proposals to the IBSC consultation on its standards review, focusing on outcomes-based education and curriculum modernisation. The overarching goal is a fundamental revision of standards by 2026 to ensure relevance and effectiveness.

Efforts were also made to ensure all Societies appointed an educational contact and a SWOT analysis document was developed to capture identified strengths, weaknesses, opportunities, and threats for the education strategy.

Plans and draft documents for a pilot phase of an IFHS Mentorship Scheme were held, with a proposal submitted to all Societies in March 2025, which was approved for a potential launch in Autumn 2025. This work would be overseen by the new Working Group.

The ‘Hydro’ conference series continued to be a vital platform for interaction and information exchange. DHyG successfully hosted Hydro 24 from 5-7 November 2024 in Rostock-Warnemünde, Germany, an event that was wellattended and described as very successful and which made a profit. Insights from Hydro 24 were planned to be shared for future events. Planning for Hydro 25 was underway, to be hosted by THS-UKI in Liverpool, UK, from 28-30 October 2025, was well underway. The Board initiated a review of Hydro event guidelines, with most recent hosts (IHS and DHyG) tasked with providing initial feedback for updates.

Membership recruitment and engagement remained a priority. The current subscription fee structure was maintained at £12 per capita for the year. Further discussions on fee structure review were deferred until the new Vice Hon Treasurer could develop a detailed proposal.

Contact was maintained with the Canadian Hydrographic Society regarding the opportunity of joining as an affiliate member to potentially lower financial burden. Discussion also continued re the Australasian Society (AHS) to consider their return as a full Member after their withdrawal in 2018. Interest in IFHS membership was shown by contingents from Brazil and Portugal, with follow-up actions in progress. Initiatives to engage with Japanese and Korean Hydrographic Societies were planned, as South Korea used to be an IFHS member.

In terms of governance and appointments, David Vincentelli (AFHy) continued as Chair, and Thomas Dehling (DHyG) continued as Honorary Vice-Chair. Mark Schreiber (HSSA) stepped down as Honorary Treasurer and HSSA Representative at the AGM on 29 November 2024, remaining on the Board for a handover period. Eric Langlois (AFHy) continued as Vice Honorary Treasurer, acted as interim Treasurer, and subsequently confirmed as Treasurer to ensure continuity as Mark Schreiber had resigned. Andrew Watermeyer (HSSA President) formally succeeded Mark Schreiber as the HSSA representative on the Board at the AGM on 29 November 2024. Patrick Westfeld (DHyG) was introduced as the new Vice-Chair of DHyG, succeeding Jens Schneider on the IFHS Board. The Board extended the nomination deadline for a Vice-Treasurer role and Mark Beloeil-Smith was appointed Acting Vice Treasurer. Bertrand Lobo was included on the Board with a focus on education and attracting younger members.

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The IFHS Student Awards continued to encourage academic excellence. The 2024 award was won by Julia Swedenklef (THS-UKI) for her remote presentation at Hydro24, with the Board noting the high calibre of candidates. Criteria for the award were updated to allow for a second prize for submissions of sufficiently high quality (published as a shorter scientific summary in IHR) and to adjust eligibility regarding degree completion dates, with a reminder that candidates may not submit the same thesis more than once.

International cooperation and outreach efforts were also undertaken. David Vincentelli attended the Geospatial World Forum in Rotterdam to raise awareness about the Federation. The IHS organised an event in Sicily to celebrate World Hydrographic Day on 21 June, using it as a platform to promote IFHS. Meetings were held with the THSOA and CHA (Canadian Hydrographic Association) to discuss international collaboration, resulting in actionable items such as event announcements, shared calendars, and logo banners on websites. David Vincentelli advocated for IFHS inclusion in IHO disaster response strategies, highlighting industry's capacity for rapid equipment deployment. The possibility of IFHS expert involvement in capacity-building workshops coordinated or co-delivered with IHO was suggested to attract new members to National Associations. Eric Langlois attended the IHO WENDWG meeting and identified opportunities to engage with Japanese and Korean Hydrographic Societies.

Financial review

The net surplus for the year was £14,043 (2024: £2,626 deficit). There are accumulated funds brought forward of £90,947, thus leaving a balance of reserves of £104,990 to carry forward within the Federation. This consists of £70,413 unrestricted funds and £34,577 restricted funds.

Income from Hydro conferences during the year was £25,507 (2024: £6,353).

Reserves policy

The policy of the charity is that unrestricted funds, which have not been designated for a specific purpose, should be maintained at a level equivalent to at least two times its annual operating costs - currently £25,000. This policy will allow the Federation a reasonable time frame in which to find additional funding, or wind up the charity, if the need should arise and also makes allowance for the occasional failure of a Hydro conference (run by member societies) to raise the expected funds for IFHS or a year in which a Hydro conference does not take place.

Investment policy

Under the memorandum and articles of association the charitable company has the power to make any investment which the trustees see fit.

Major risks

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

Structure, governance and management

The International Federation of Hydrographic Societies is a company limited by guarantee and a registered charity. The Federation's governing document is its Memorandum and Articles of Association as amended by a special resolution dated 1 November 2004.

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:

M A Schreiber (South Africa) (Resigned 26 September 2025) T J Dehling (Germany) (Vice Chairman) D Vincentelli (France) (Chairman) G Johnston (UK) E Langlois (France) Honorary Treasurer M Beloeil-Smith (UK) Vice Honorary Treasurer (Appointed 21 March 2025)

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Recruitment and appointment of trustees

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

National Society Directors are appointed by the relevant Societies in accordance with their own constitutions.

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

.............................. D Vincentelli (France) (Chairman) Trustee

28th November 2025 Date: .............................................

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

I report to the trustees on my examination of the financial statements of International Federation of Hydrographic Societies (the Society) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the Society (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.

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

Independent examiner's statement

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

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 P Williams BSc ACA CTA

for and on behalf of Simpkins Edwards LLP

The Summit Woodwater Park Pynes Hill Exeter EX2 5WS

Dated: .........................

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Charitable activities
2
10,939
-
Investments
3
1,070
1,966
Other income
4
25,507
-
Total income
37,516
1,966
Expenditure on:
Charitable activities
5
25,945
(506)
Total expenditure
25,945
(506)
Net income/(expenditure) and
movement in funds
11,571
2,472
Reconciliation of funds:
Fund balances at 1 April 2024
58,842
32,105
Fund balances at 31 March
2025
70,413
34,577		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
10,939
11,610
-
3,036
1,089
1,705
25,507
6,353
-
39,482
19,052
1,705
25,439
21,515
1,868
25,439
21,515
1,868
14,043
(2,463)
(163)
90,947
61,305
32,268
104,990
58,842
32,105		 Total
2024
£
11,610
2,794
6,353
20,757
23,383
23,383
(2,626)
93,573
90,947

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Intangible assets 10 10,378 13,837
Tangible assets 11 348 547
10,726 14,384
Current assets
Debtors 12 36,591 17,116
Cash at bank and in hand 70,294 84,302
106,885 101,418
Creditors: amounts falling due within 13
one year (12,621) (24,855)
Net current assets 94,264 76,563
Total assets less current liabilities 104,990 90,947
The funds of the Society
Restricted income funds 15 34,577 32,105
Unrestricted funds 16 70,413 58,842
104,990 90,947

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 .........................28th November 2025

.............................. D Vincentelli (France) (Chairman) Trustee

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

International Federation of Hydrographic Societies is a private company limited by guarantee incorporated in England and Wales. The registered office is Senate Court, Southernhay Gardens, Exeter, Devon, EX1 1NT.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Society'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 Society is a Public Benefit Entity as defined by FRS 102.

The Society 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 Society. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Society 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 financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are to provide assistance specifically for student hydrographic surveyors.

1.4 Income

Income is recognised when the Society 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.

Income is deferred only when the charitable company has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Membership subscriptions relate to the period 1 October to 30 September, thus 50% of income receivable is deferred each year.

Interest is included when receivable by the Federation.

Income received in respect of advertising in publications, stands at exhibitions or similar income is recognised within incoming resources in the period in which the title is published, the exhibition takes place or on such other basis as is applicable to the income concerned.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets comprise the creation of the Hydrographic Professional Accreditation Scheme (HPAS) documentation for courses designed to be of industry standard for those working in the hydrography field.

Amortisation 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:

Learning material 20% per annum on cost

1.7 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:

Computers 33.3% per annum 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 the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the Society reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Basic financial assets

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.

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025		 2
Income from charitable activities
Member
subscriptions
HPAS
accreditation
fees
Total
Member
subscriptions
HPAS
accreditation
fees
Total
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Charitable income
9,791
1,148
10,939
7,514
4,096
11,610
Analysis by fund
Unrestricted funds
9,791
1,148
10,939
7,514
4,096
11,610

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 Investments

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Bank interest received 1,070 1,966 3,036 1,089 1,705 2,794

4 Other income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Share of Surplus from Hydro events 25,507 6,353

5 Expenditure on charitable activities

Charitable Charitable
expenditure expenditure
2025 2024
£ £
Direct costs
Amortisation and depreciation 3,658 3,509
Coordinator fees 16,913 11,441
IHO fees 519 567
Prizes (506) 1,868
Accountancy 2,250 2,290
Bank charges 360 14
Miscellaneous 128 1,338
Registered office charge 480 480
Travel expenses 1,092 1,562
Subscriptions 545 314
25,439 23,383
Analysis by fund
Unrestricted funds 25,945 21,515
Restricted funds (506) 1,868
25,439 23,383

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 2,250 2,100
Depreciation of owned tangible fixed assets 199 50
Amortisation of intangible assets 3,459 3,459

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Society during the year.

8 Employees

During the year there were no staff members employed by the charity (2024: 0).

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 Intangible fixed assets

Intangible fixed assets
Learning
material
£
Cost
At 1 April 2024 and 31 March 2025 17,296
Amortisation and impairment
At 1 April 2024 3,459
Amortisation charged for the year 3,459
At 31 March 2025 6,918
Carrying amount
At 31 March 2025 10,378
At 31 March 2024 13,837

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11 Tangible fixed assets

Cost
At 1 April 2024
At 31 March 2025
Depreciation and impairment
At 1 April 2024
Depreciation charged in the year
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
12
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Notes
Deferred income
14
Trade creditors
Accruals
14
Deferred income
Deferred income		 Computers
£
597
597
50
199
249
348
547
2025
2024
£
£
10,577
10,386
26,014
6,730
36,591
17,116
2025
2024
£
£
5,746
4,728
-
16,006
6,875
4,121
12,621
24,855
2025
2024
£
£
5,746
4,728		 Computers
£
597
597
50
199
249
348
547
2025
2024
£
£
10,577
10,386
26,014
6,730
36,591
17,116
2025
2024
£
£
5,746
4,728
-
16,006
6,875
4,121
12,621
24,855
2025
2024
£
£
5,746
4,728
597
50
199
249
348
547
2024
£
10,386
6,730
17,116
2024
£
4,728
16,006
4,121
24,855
2024
£
4,728

The deferred income represents 50% of subscriptions paid during the year in respect of future periods.

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust for specific purposes.

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources
Balance at
1 April 2023 resources expended 1 April 2024 resources expended 31 March 2025
£ £ £ £ £ £ £
Education
Fund 32,268 1,705 (1,868) 32,105 1,966 506 34,577

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of charitable activities and investments which are not subject to specific conditions from these sources as to how they may be used.

At 1 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
General funds 58,842 37,516 (25,945) 70,413
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 61,305 19,052 (21,515) 58,842
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 March 2025:
Intangible fixed assets 10,378 - 10,378
Tangible assets 348 - 348
Current assets/(liabilities) 59,687 34,577 94,264
70,413 34,577 104,990

17 Analysis of net assets between funds

INTERNATIONAL FEDERATION OF HYDROGRAPHIC SOCIETIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Intangible fixed assets 13,837 - 13,837
Tangible assets 547 - 547
Current assets/(liabilities) 44,458 32,105 76,563
58,842 32,105 90,947

Sufficient funds are held in an appropriate form to enable each fund to fulfil its objectives.

18 Membership income from National Societies

Benelux
South Africa
Germany
UK
Italy
France		 2025
£
1,548
258
2,286
4,290
138
1,320
9,840		 2024
£
1,548
312
2,172
1,950
144
1,338
7,464