2023-06-30-accounts

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Beter lung health for all

The Bri�sh Thoracic Society

Annual Report and Financial Statements for the year ended 30 June 2023

1 Company Number: 1645201, Charity Number: 285174, OSCR Number: SC041209

CHAIR’S FOREWORD .............................................................................................................................. 3 OUR STRATEGY AND PURPOSE ............................................................................................................... 4 HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT .................................................................................... 5 ACHIEVEMENTS AND PERFORMANCE .................................................................................................... 6 STANDARDS, WORKFORCE AND EDUCATION .......................................................................................... 7 RESEARCH AND INNOVATION .............................................................................................................. 10 PROFILE ............................................................................................................................................... 11 THE BTS HEAD OFFICE TEAM ................................................................................................................ 12 MAKING AN IMPACT ............................................................................................................................ 13 FINANCIAL REVIEW .............................................................................................................................. 14 STRUCTURE, GOVERNANCE AND MANAGEMENT ................................................................................. 16 STATEMENT OF RESPONSIBILITIES OF TRUSTEES .................................................................................. 20

statements for the year ended 30 June 2023. The reference and administra�ve informa�on set out on page 23 forms part of this report.

Memorandum and Ar�cles of Associa�on; and the Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2015).

CHAIR’S FOREWORD

It gives me great pleasure to introduce the BTS Annual Report for 2022/23. One of the highlights of the past year was the launch of the new BTS strategy at the AGM in November 2022, and this reflects a renewed commitment by the Society to provide high-quality support to its members and to ensure respiratory care remains at the forefront of the agendas of the four governments and their NHS leaders. The new strategic priori�es focus the Society on providing educa�on and training, promo�ng quality improvement, including the relaunch of our ILD Registry, delivering leading-edge guidance and ensuring the work of BTS con�nues by maintaining good governance.

The Society con�nues to advocate for increased support not only for the mul�-professional workforce but also for changes that will improve respiratory health for everyone. In order to deliver beter lung health for all, we need more respiratory professionals, and this

remains a core focus for BTS. It is heartening to see the Government taking note of these challenges through its commitments to deliver a Workforce plan.

This year we have contributed to several consulta�ons to ensure the respiratory voice is heard. We were delighted to see respiratory designated as one of the six major condi�ons in the Department of Health and Social Care’s Major Condi�ons Strategy and look forward to hearing the outcome of the consulta�on, which will inform its delivery. We con�nue to call for investment in services and for ini�a�ves promo�ng preven�on, for example, by increasing the number of Tobacco Dependency Services. We have also taken part in campaigns promo�ng the right to breathe clean air and have appointed a new Sustainability Trustee, Dr LJ Smith, to help support our ongoing work in this area. Dr Smith is currently working with a group to develop a new BTS Posi�on Statement to complement our exis�ng statement on Air Quality.

work ranging from comba�ng health inequality to redistribu�on of respiratory training posts. We are championing integrated care and have contributed to discussions and outputs about models of care, such as virtual wards. We are also advoca�ng for and suppor�ng interven�ons to reduce pressure on acute and emergency care services.

We have been lending our voice to new partnerships recognising that joining with others can help to strengthen our message. Alongside Asthma + Lung UK and, through the Taskforce for Lung Health, we are the UK par�cipant in the Interna�onal Respiratory Coali�on, which aims to reduce respiratory diseaserelated mortality by a third globally by 2030. We are working closely with many stakeholders to explore new ways to share best prac�ce, u�lising our online pla�orm, Respiratory Futures, to reach new audiences.

colleagues for their con�nued support and guidance and the BTS staff team, who deliver the work of the Society with such skill and passion. We look forward to helping BTS to achieve an even greater impact in 2024.

Dr Paul Walker, Chair of the BTS Board of Trustees

OUR STRATEGY AND PURPOSE

The Society published new strategic priori�es this year for the period 2023-2025.

Our Vision

Beter lung health for all.

Our Mission

To influence the provision of the optimum respiratory workforce and the development of services that promote sustainable solutions and reduce health inequalities.
To educate professionals to advance knowledge and share learning in the prevention, diagnosis, and treatment of lung disease.
To support all members of the respiratory team to improve standards of care.

Our strategic priori�es for 2023 – 2025

The outcomes we intend to achieve are set out as follows:

To represent the en�re mul�-professional respiratory team across the four na�ons.

Outcome: We will con�nue to work with stakeholders to provide an expert and authorita�ve voice to champion the role, expansion, and impact of the respiratory workforce to ensure that everyone has access to high quality respiratory care from the right person, at the right �me, in the right se�ng.

To deliver educa�on and con�nued professional development to the en�re mul�-professional respiratory team.

Outcome: We will work to engage, encourage, and support all members of the respiratory team by providing high quality educa�on and networking opportuni�es that are relevant at all stages of an individual’s career.

To support the development and delivery of high-quality respiratory care which encompasses disease preven�on, early diagnosis, therapeu�c interven�on, and suppor�ve care. Outcome: We will con�nue to improve standards of care for pa�ents and reduce health inequali�es via our interna�onally recognised scien�fic mee�ngs, our journals and our programme of evidencebased guidance, standards, and posi�on statements.

Outcome: We will con�nue to represent and involve the growing mul�-professional respiratory team in the work of the Society, underpinned by a strong and transparent business model.

Annual review

The Board reviews progress against the strategic priori�es each year and this Report provides an account of the Society’s ac�vi�es undertaken to meet the outcomes specified above. This review helps the Trustees to make sure that the Society’s aims, objec�ves, and ac�vi�es remain focused on its stated purposes. This report sets out how the Society has worked to deliver its mission during the 2022-2023 year.

HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT

The Society produces a range of informa�on, publica�ons, clinical standards , and related resources which are freely available to all via the BTS website and the Respiratory Futures website.

Health care professionals are able to use these resources to improve prac�ce locally, which in turn benefits pa�ents in their care. Our communica�ons ac�vi�es ensure that these resources are brought to the widest possible audience including policy makers and the public.

BTS conferences and events atract a wide audience of health care professionals from all members of the respiratory team. Our events ensure that those atending obtain maximum benefit from both face-to-face opportuni�es to develop networks as well as the flexibility that online atendance offers for some events.

Workforce remains a key priority for the Society. Following the BTS landmark report “A Respiratory Workforce for the Future” , BTS has con�nued to raise the profile and importance of respiratory health care professionals.

The Society has con�nued to highlight the link between air quality and lung health . BTS is a partner in the relaunched Healthy Air Coali�on and con�nues to par�cipate as a full member of the UK Health Alliance on Climate Change.

BTS con�nues to work to meet the stated aims of its Inclusion, Diversity and Equality policy published in 2021.

Highligh�ng health inequali�es and the impact that this has on respiratory pa�ents has been a theme of the Society’s work over the past year leading to the publica�on of a new BTS Posi�on Statement.

BTS, through Respiratory Futures, worked with ITN Business during 2022 to develop a series of important films highligh�ng the need for more respiratory health care professionals, the importance of clean air and the impressive innova�ons in respiratory health care that bring benefits to pa�ents.

The Trustees confirm they have referred to the guidance from the Charity Commission on public benefit and complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Commission's public benefit guidance. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Society's aims and objectives and planning in future activities.

ACHIEVEMENTS AND PERFORMANCE

We describe our three main areas of ac�vity in the Statement of Financial Ac�vi�es (the SOFA) as follows.

Standards, workforce, and educa�on

These ac�vi�es are undertaken under the direc�on of the Society’s Standards of Care Commitee; the Quality Improvement Commitee; the Educa�on and Training Commitee; and the Workforce and Service Development Commitee, together with the input of the Society’s Specialist Advisory Groups (SAGs), the Specialty Trainees Advisory Group (STAG), Nurse Advisory Group and Pharmacist Advisory Group.

Research and innova�on

The Society achieves objec�ves in this area by:

Publishing the journals Thorax and BMJ Open Respiratory Research.
Organising the annual Winter Scientific Meeting, which is the main function of our Science and Research Committee.
Contributing to the National Institute for Health Research and other national initiatives including the Lung Research and Innovation Group (LRIG).
Recognising outstanding contributions in the Respiratory Clinical Research Community through a series of awards and prizes, including those which are awarded in association with the NIHR, A+LUK and BALR.
Supporting applications for respiratory research projects from UK researchers which meet the required criteria. During the 2022- 2023, BTS had 13 applications to support research, and all of these were accepted.

BTS is commited to working to promote and advance knowledge and awareness of lung health to the public, to healthcare professionals and to policymakers and government bodies. This is done pro-ac�vely and reac�vely in partnership with other professional socie�es and lung chari�es, and via internal and external communica�ons. Our con�nued membership of the Taskforce for Lung Health is one way of achieving this, as is our membership of the UK Health Alliance on Climate Change.

The Taskforce for Lung Health is ac�ng as the UK coali�on for the new Interna�onal Respiratory Coali�on (IRC). BTS with Asthma + Lung UK are the lead organisa�ons represen�ng the UK coali�on for the IRC.

The Respiratory Futures pla�orm, coupled with our strengthened communica�ons team, allows us to reach a wider audience and to support the respiratory health care community communica�ons capacity within BTS Head Office.

STANDARDS, WORKFORCE AND EDUCATION

Standards

Clinical Guidelines, Clinical Statements and Quality Standards

BTS published the following guidance documents:

Guideline for Diagnosing and Monitoring Paediatric Sleep-disordered Breathing
Clinical Statement on Aspiration Pneumonia
Clinical Statement on Community Acquired Pneumonia in People with Learning Disability
Quality Standards for Clinically Significant Bronchiectasis in Adults
BTS and Intensive Care Society (ICS) Model of Care for Specialised Weaning Units

BTS con�nued to work with NICE and SIGN to develop a new joint guideline for the diagnosis and management of chronic asthma. Work on a number of other guidance documents is underway.

UK ILD Registry

The new UK Inters��al Lung Disease Registry launched in February 2023. Building on the exis�ng BTS UK pa�ent Registries, the new Registry has been developed to collect informa�on about addi�onal people diagnosed with ILD, including those affected by specific inters��al lung condi�ons. The BTS UK ILD Registry draws together the exis�ng UK Idiopathic Pulmonary Fibrosis (IPF) and UK Sarcoidosis Registries, as well as expanding to include all fibrosing ILDs. The expansion of the Registry will support a greater understanding of how cases of fibrosing ILD are treated na�onwide.

There were just over 1,650 new cases added to the UK ILD Registry between July 2022 and June 2023, with 6,300 cases on the Registry overall.

BTS Mul� Drug-Resistant-Tuberculosis Clinical Advice Service

The MDR-TB Clinical Advice Service provides advice and support to clinicians who encounter MDRTB, providing consensus expert advice from a mul�-disciplinary panel of formally appointed Clinical Service Advisers. This UK-wide service forms an integral part of our Quality Improvement ac�vi�es, and we will use informa�on from the ini�a�ve to develop educa�onal resources.

For the period July 2022-June 2023 there were a total of 216 cases discussed through the service of which 161 were newly registered cases .

We also had two abstracts on Clinical Advice Service ac�vity published in Thorax and one on the impact of COVID-19 on TB services published in the Clinical Medicine Journal.

Clinical Audit Programme

National Respiratory Support Audit

BTS completed a successful pilot of the Respiratory Support Audit (1 December 2021- 31 March 2022) and offered the na�onal audit during 2023. The audit aimed to capture data on pa�ents outside cri�cal care that have required respiratory monitoring or interven�on (i.e. either admited to an acute respiratory support unit or treated in another ward se�ng with NIV/CPAP/HFNO), with a view to beter understanding varia�ons in clinical prac�ce and outcome. 19 organisa�ons took part in the pilot audit and 119 took part in the na�onal audit.

National Pleural Services Organisational Audit 2021 – report published in 2022

pleural disease The 2021 Audit examined how hospitals and clinicians adhered to these organisa�onal standards. 111 sites took part in the audit, which provided organisa�onal informa�on on five key topics: medical leadership, service delivery, pleural nursing, out-of-hours care, pa�ent safety, and clinical governance. The report highlighted many areas in need of improvement rela�ng to pa�ent safety, clinical governance, and staffing levels. The audit also found many sites were unable to meet the recommenda�ons of the Na�onal Respiratory GIRFT Report.

Pa�ent Safety

We expanded our work on pa�ent safety issues through a pilot project conducted under the direc�on of the QI Commitee to examine na�onal repor�ng and learning data on adverse events in respiratory. This is due to report in late 2023.

Tobacco Dependency Project

This important project was formally commissioned by NHSE in 2021, to run for three years to mid2024 with the aim of providing a sustainable framework of resources for improving tobacco dependence treatment by suppor�ng clinicians working in NHS services. Extensive resources have been provided on the Respiratory Futures website, together with a series of open access webinars. The webinars were ini�ally atended by 432 people and have subsequently been viewed 240 �mes. The Tobacco Dependency Programme webpages were viewed 8050 �mes, and resources have been downloaded 1050 �mes.

Quality Improvement Programme for tobacco dependency treatment

BTS launched a new Quality Improvement (QI) Programme aimed at suppor�ng acute Trusts to develop high quality tobacco dependency treatment services. This programme was led by Dr Robyn Fletcher, a QI Tobacco Fellow working with Professor Sanjay Agrawal, the NHS England Na�onal Specialty Adviser for Tobacco Dependence. 24 sites were selected to par�cipate in the programme and were provided with online QI training and support to help them develop projects that will

improve the delivery of tobacco dependency treatment, including 11 webinars. All par�cipants completed a QI project, and the final report will be published in late 2023.

Clinical Data Policy and Data Access

BTS provides access to its clinical datasets (Audit, Registry, MDR-TB Clinical Advice Service) subject to the appropriate approvals being granted. Organisa�ons can make a formal applica�on to BTS, which will be reviewed by the Quality Improvement Commitee.

Joint Tuberculosis Commitee

BTS hosts this important group which comprises stakeholders from the four na�ons of the UK and works to ensure that informa�on and good prac�ce are shared for the benefit of pa�ents with Tuberculosis.

Specialist Advisory Groups

Our network of 19 Specialist Advisory Groups con�nues to advise the Society on na�onal maters rela�ng to pa�ents with specific types of respiratory disease. With SAG support, we have provided comment on 32 na�onal consulta�on exercises.

Workforce

BTS published “ A Respiratory Workforce for the Future ” in May 2022. This document has since been downloaded from the BTS website 2039 �mes and has been used to support the Society in con�nued discussions with na�onal leaders in rela�on to the respiratory workforce.

Through the Workforce and Service Development Commitee , the Society contributes to the work of the Respiratory Specialty Advisory Commitee (SAC)/Joint Royal College Physicians Training Board (JRCPTB), the Royal Colleges of Physicians, and Regional Training Programme Directors.

The Workforce and Service Development Commitee con�nued to oversee the Society’s data collec�on ac�vi�es in rela�on to consultant and trainee posts, as well as raising the profile of the full respiratory team.

The following ac�vi�es took place during the year:

A joint webinar with the SAC on the new respiratory medical curriculum atended by 245 people.
Publication of a BTS Viewpoint on virtual wards to assist those involved in their creation and delivery.
Production of a Framework for pleural nurses, including example job descriptions
Publica�on of 4 new case studies outlining the roles of different members of the respiratory team.
Regular mee�ngs with those in associated professional socie�es , including the Primary Care Respiratory Society, Associa�on of Chartered Physiotherapists in Respiratory Care (ACPRC), Associa�on for Respiratory Technology and Physiology (ARTP), Associa�on of Respiratory Nurse Specialists (ARNS).

A film, “Lungs Matter”, which illustrates the work done by all members of the respiratory team as part of the Respiratory Futures/ITN Business production.

Educa�on

The Society’s range of educa�onal ac�vi�es included:

The Summer Meeting, held in person in June 2023 and attracting over 600 delegates.
An increasingly popular Short Course programme which comprised 10 short courses attracting over 975 delegates (a mix of both in person and online courses). Course attendance increased by 32% from the previous period with representation from across the multi-disciplinary respiratory team.
Publication of new online learning resources on the theory of thoracic ultrasound, with 322 subscribers in the period 30 March - 30 June 2023.

RESEARCH AND INNOVATION

The Society publishes two journals in partnership with the British Medical Journal (BMJ)

Thorax which attained an Impact Factor (IF) at the end of June 2023 of 10 (ranking 6/65 among respiratory journals).
BMJ Open Respiratory Research (BMJORR), the Society’s open access journal, which attained an Impact Factor of 4.1 with a listing of 26/65 amongst respiratory journals.

The BTS Winter Mee�ng remains the foremost inclusive respiratory conference in the UK, and undoubtedly one of the most influen�al conferences of its type globally, atrac�ng a mul�disciplinary audience from the UK and several hundred delegates annually from Europe and more widely. In November 2022, the Winter Mee�ng atracted over 2179 delegates across three days of high-quality scien�fic presenta�on and debate. The Society awarded 25 conference awards to enable delegates to travel to the mee�ng to present abstracts.

The BTS Global Lung Health Group oversaw the pilot scheme of clinical placements which enabled two clinicians from Africa to travel to the UK to undertake a two-week placement with atendance at the Winter Mee�ng. In June 2023, three clinicians from the UK travelled on a reciprocal visit to Kenya and Nigeria and atended the Pan African Thoracic Society Congress in Mombasa.

The BTS Science and Research Commitee provided 13 leters of support for applica�ons for research proposals.

BTS is represented on the new Lung Research and Innova�on Group hosted by Asthma + Lung UK.

BTS has introduced a number of new awards research and clinical care:

The joint BTS/NIHR award to recognise outstanding contributions in the respiratory clinical research community.
The BTS/A+LUK/BALR mid-career lecture awards, which provide researchers with the opportunity to give a prestigious plenary lecture at the Winter Meeting.

The BTS President’s Award which will recognise individuals making an outstanding contribution to respiratory care.

BTS, via Respiratory Futures, hosted a networking event with Asthma and Lung UK at the Summer Mee�ng to facilitate connec�ons between clinicians and innovators who are working to develop new products and technologies to improve respiratory care.

PROFILE

BTS Membership grew during the year from 4254 to 4480 in June 2023. BTS has con�nued to promote the benefits of membership to all members of the respiratory team, and has seen the number of BTS members from the nursing, allied health care professions as well as by over 20% over the past 3 years. Over 50% of BTS members are able to take advantage of the discounted membership rates for the European Respiratory Society.

BTS has enhanced and expanded its communica�ons ac�vi�es supported by the new BTS communica�ons team aiming to raise the “respiratory voice” wherever the opportunity occurs. 124 pieces of coverage were placed, Twiter followers grew from 26,800 to 29,683 across our @BTSRespiratory and @respfutures accounts, and LinkedIn followers grew from 1522 followers to 2394 followers.

BTS con�nues to develop and maintain and rela�onships across the NHS and with stakeholder organisa�ons to support and influence na�onal and local policy. We are involved in na�onal working groups overseeing the implementa�on of the NHS England Long Term Plan. We respond to na�onal calls for evidence in support of the NHS workforce and par�cipate in discussion and mee�ngs with na�onal groups including the Royal Colleges and with from Wales, Northern Ireland and Scotland through BTS Council.

BTS is an ac�ve partner in the Taskforce for Lung Health , and with Asthma + Lung UK, takes the lead in the UK involvement in the Interna�onal Respiratory Coali�on .

BTS remains an ac�ve partner in the Taskforce for Lung Health and valued rela�onships with organisa�ons including Asthma + Lung UK, the Associa�on for Respiratory Technology and Physiology (ARTP), the Associa�on of Respiratory Nurse Specialists (ARNS), the Associa�on of Chartered Physiotherapists in Respiratory Care (ACPRC), Ac�on for Pulmonary Fibrosis, the Primary Care Respiratory Society (PCRS), and the Bri�sh Paediatric Respiratory Society (BPRS).

BTS became a member of UK Health Alliance on Climate Change (UKHACC), a collabora�on of organisa�ons working to raise the profile of climate change across healthcare and also the Healthy Air Coali�on (HAC) a collec�ve of health, environment and transport organisa�ons. The publica�on of the BTS Posi�on Statement on Air Quality provides an important indicator of how important this area is for the Society.

BTS appointed a new trustee for sustainability and the environment . Dr Laura-Jane Smith joined the Board in November 2022 and leads a group which will develop a new BTS Posi�on statement on the environment and sustainability.

THE BTS HEAD OFFICE TEAM

The Society’s Senior Management Team comprises Sally Welham, Chief Execu�ve, Rosie O’Carroll, Head of Strategic Communica�ons, Louise Preston, Head of Strategic Programmes, Miguel Souto, Head of Clinical Programmes and Kathryn Wilson, Head of Opera�ons. The full list of BTS staff members is listed on page 23.

BTS would like to acknowledge and thank all the many respiratory healthcare professionals for their outstanding hard work, flexibility, resilience, and compassion.

The Society is proud to represent the respiratory community - we applaud all you have done and con�nue to do for your pa�ents and for the health service.

Making an Impact This year there were... 4,480 BTS members new Guidance documents published 29,683 . Twitter followers across our @BTSRespiratory and @RespFutures accounts 32 responses to national consultations 600 1,522 75/ delegate5 at the 2023 Summer Meeting followers on our Linkedln account ofthe cases discussed by the MDR-TB Clinical Advice Service were newly registered cases 8,050 2,179 119 delegates at the 2022 Winter Meeting views of the Tobacco Dependency Project webpages organisations that took part in the national Respiratory Support Audit 1,650 32% more delegates attending a BTS short course than the previous 12 months- over 975 in total new cases added to the UK ILD Registry

FINANCIAL REVIEW

Core costs

Trustees have approved deficit budgets for the last four years, 2019/20, 2020/21, 2021/22 and 2022/23 as a result of considered decisions taken since 2016 to support efforts to raise the respiratory profile. This has accommodated appointment of a number of new members of staff over the past 3 years and ensured a smooth transition to the current Senior Management Team. Trustees still have no doubt that the Society remains a going concern.

We are fortunate to have robust income streams that support our core work. These are membership subscrip�ons, at £684,441 in 2023 compared to £666,540 in 2022. At the end of June 2023, we had 4,480 members (4,254 in June 2023, 4,109 in June 2021 and 3,778 in June 2020). The partner’s share of the profit from the journal Thorax and BMJ Open Respiratory Research is the other core income stream. Income from the journals decreased to £540,259 in 2023 compared to £565,044 in 2022, £659,894 in 2021 and £646,788 in 2020. This is the expected con�nua�on of an overall downward trend in journal income which the Management Commitee for the journals will con�nue to monitor closely.

Investment Policy and Performance

Management of the BTS investment por�olio is undertaken by Evelyn Partners (formerly Tilney Asset Management). The Society’s Investment Policy is reviewed annually by the Board each December and currently sets out a “Growth Strategy”, which is defined as follows: “…. appropriate for an investor with a five-year time horizon, who is comfortable with significant volatility of returns and having up to 80% of their portfolio in equities, and who is able to tolerate a loss of up to 20% of the value of the portfolio in any one year”.

Quarterly reports are received from the Investment Managers and bi-annual mee�ngs are held between the investment managers and the Honorary Treasurer and Chief Execu�ve to review progress and assess the approach to management of the funds. The Honorary Treasurer speaks to the Society’s dedicated Investment Manager before each mee�ng of the Board of Trustees in order to report on progress.

The Investment Policy . The instruction not to invest in the tobacco industry or tobacco-related products remains strictly in place. The Investment Policy was amended in 2016 to include the requirement that investments are not made in industries involved in the extraction of fossil fuels or in industries that make weapons. In 2017 Trustees agreed to draw a proportion of the annual investment gain as income to support the Society’s activities.

Reserves

Total funds at 30 June 2023 were £7,146,926 (£6,779,598 in 2022) comprising restricted funds of £30,370 (£29,342 in 2022) and unrestricted funds of £7,116,556 (£6,750,256 in 2022).

(the investment reserve). This is held as a designated fund and stands at £4,662,672 (compared to £4,386,259 in 2022 and £4,460,163 in 2021). The second purpose is to ensure that the Society can meet its opera�onal needs and working capital requirements (the free reserve). The free reserve is represented by the general fund. This stands now at £782,610 (it was £741,607 in 2022 and £570,346 in 2021). At the November 2022 mee�ng of the Board, it was agreed that the reserve policy should be amended and maintained in future at a level equivalent to between three and six months, or 25-50% of projected expenditure based on that year’s budget, with the Society holding a minimum of three months, or 25%, projected expenditure.

Funds

Interest & Investment income earned has been atributed to individual funds in the ra�o of the fund balance to total funds.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The British Thoracic Society (“the Society”/ “BTS”) is a charitable company limited by guarantee which has no share capital. It was incorporated on 21 June 1982 and registered as a charity on 21 June 1982. The Office of the Scottish Charity Regulator (OSCR) approved the Society’s application to be registered as a charity in Scotland in early 2010.

As a registered charity, the Society is governed by its Memorandum and Articles of Association. Trustees review these regularly. The most recent revisions were approved by the Charity Commission in December 2016. The document can be viewed at https://www.brit- thoracic.org.uk/about bts/governance/

Board of Trustees

The Board comprises five honorary officer positions; the Chairs of the Society’s main (Standing) Committees; and up to three others, chosen by the Board for their particular expertise in relevant areas according to the requirements of the Society’s Strategic Plan. A list of all Trustees who served during the year and up to the date this Report was approved appears on page 22.

The Board provides strategic decision-making and direction for those who are responsible for delivering the Society’s operations and activities. The normal term in office for Trustees is three years, as it is for all who serve on BTS Committees and Advisory Groups. All Trustees are made aware of relevant Charity Commission and Companies House Guidance on appointment and are required to undertake induction training provided by the Society’s lawyers and senior staff. Any Trustee may attend refresher training annually if they wish. In accordance with the Society’s constitution the Chair, Honorary Secretary and Honorary Treasurer are selected a year in advance of taking up their posts, to allow some shadowing to take place. An induction programme is provided to the three Honorary Officers in the months before they take up post, and they usually start to attend meetings of the Board of Trustees and Council in the autumn of the year they assume office.

BTS Council

The Society’s Council has a significant role. It comprises 18 elected members plus the President (who chairs meetings of the Council), the Chair of the Board of Trustees and several ex-officio appointments including the Chairs of the BTS Specialty Trainees Advisory Group and the BTS Nurse Advisory Group, the British Paediatric Respiratory Society, British Association of Lung Research and Asthma + Lung UK (formerly the British Lung Foundation). Elections take place annually for 6 new Council members. The constitution requires that one member under the age of 35 should be elected each year.

Council acts as a sounding board for Society policies and a guide for Trustees about general membership opinion. Bi-annual meetings of Council are timed to take place in the mornings before Trustees meet, so that related operational decisions can be made quickly and effectively. Topics covered during the year included the increasing challenges placed on those working in the specialty in the face of the pandemic, continued workforce shortages and the annual Winter Pressures on health systems.

Standing Commitees and Specialist Advisory Groups (SAGs)

These important groups enable the Society to organise and deliver core work programmes (the Standing Committees) and communicate quickly and efficiently with expert opinion when required (the Committees and Advisory Groups). Senior staff ensure that the agendas of the Board and Standing Committees are aligned with a focus on how the work of the latter contribute to the Society’s overall strategy, allowing sufficient space for discussion and approval by Trustees of annual work plans of the main Committees. A standard constitution for Committees and SAGs ensures regular and planned turnover of members and consistent methods of operation. The SAG Chairs meet Trustees once a year to discuss strategic and operational matters, and each provides a written report. Each SAG holds an Open Meeting during the Society’s Winter Meeting to report to BTS members and others about their activities and seek feedback.

A recruitment round for new members of Committees and SAGs takes place each June – August (of the order of 70 vacancies), as well as recruitment of the President-Elect and any other Officer or Trustee roles that fall due.

Involving the public

Since 2007 one of the Society’s Trustees has been a lay person. The Society also benefits from patient and carer representation on many of its Guideline and Quality Standards Groups and a system is in place to achieve this. Following the departure of the most recent lay trustee, the Society is engaged in an exercise to identify and recruit appropriate lay expertise to the Board.

Member Engagement and Involvement

The Society’s Strategic Plan mentions that one of the ways by which the Society expects to achieve its objectives is by harnessing the expertise and commitment of its members. The Society had 4,480 members at the end of June 2023 (4,254 in 2022, 4,109 in 2021, 3,778 in 2020, 3,349 in 2019 and 3,049 in 2018). 430 members, around 10 % of UK-based members, were engaged in and/or working on BTS projects or in BTS Committees and Advisory and Guideline Groups during the year. They are listed in Appendix A and we wish to record our thanks and gratitude to all of them. We are proud of this level of engagement, which is supported by a robust and democratic framework of access to membership of Committees and Specialist Advisory Groups (SAGs).

Opera�onal Framework

The Trustees are responsible for all strategic and some of the operational decisions taken by the Society. These include allocation of resources in pursuit of the objectives within the Strategic Plan, although the majority of the latter decisions are devolved to the Officers’ Group and most operational decisions are delegated to the Chief Executive and the Senior Management Team.

Standing Financial Instructions exist in relation to decision-making about ordering of goods and services, for authorising expenditure and for authorised signatories on the Society’s accounts. These instructions are reviewed annually by the Chief Executive and Honorary Treasurer, at the time of the annual audit. There are three authorised signatories on the BTS accounts (Chief Executive, Honorary Treasurer and Chair of the Board). There is also clear separation of duties in respect of staff roles and responsibilities for financial activities. The “Items of Reserved Business” statement within the Standing Financial Instructions gives details about what decisions must always be discussed in full by all Trustees, and what can be deferred to the Officers’ Group and/or senior staff.

From 2020, the Officers Group has also performed the role of Internal Audit Committee and receive and consider the annual report from the auditors.

Accoun�ng

The Board considers quarterly management accounts and reports at each of its four meetings during the year, with narrative provided by the Honorary Treasurer and Chief Executive. The narrative focuses on reasons for variation against budget. Operational decisions that might be needed in the meantime are discussed by the five Honorary Officers and Chief Executive, who usually meet monthly (via Teams) and more frequently when required (weekly or fortnightly meetings were held during the peak of the pandemic). Annual budgeting is the responsibility of the Chief Executive and the Society’s accountants, with bi-annual review (at the half -year and end of each financial year). Indicative budgets are prepared for the following two years, and the Chief Executive and Honorary Treasurer will review closely at least once a year prior to the year end.

Remunera�on

The Society established a Remuneration Committee in 2007, which reports to the Board. Its remit is to advise the Trustees about the Society’s pay policy. It meets annually to agree the remuneration of the staff employed by the Society, by considering the recommendations of the Society’s Chief Executive following annual performance development reviews and considers the remuneration of the Chief Executive. The Committee also reviews the BTS Staff Handbook and annual amendments and updates. This year, updates were made to include an enhanced maternity, paternity and adoption policy.

Annual appraisals were conducted in May 2023. The outcome of appraisals informs the recommendations to the Remuneration Committee about pay awards and annual progression of individuals. The Remuneration Committee met in June 2023, and agreed an inflation-linked pay increase of 7% for the 2023/24 which was deemed appropriate in the light of cost-of-living rises.

Risk Assessment and Management

The Society’s Senior Management Team review the Risk Assessment matrix every quarter, taking actions to mitigate or remove risk as appropriate and where possible, and prepare an update for the Board’s review in June each year. The annual risk review and management plan was undertaken in the final quarter of the year, focussing again on operational and financial recover matters, and the report was approved by the Board in June 2023.

The Senior Management Team monitors the possible impact on income and expenditure of the changes to the way we offer activities such as short courses and the move to and from online conferences for 2022/23. Trustees stand ready to act on advice received and to take steps to maintain the future health of the Society.

Fundraising Prac�ce

The Society does not engage in public fundraising and does not use professional fundraisers or commercial participants. It has not received any complaints relating to fundraising practice.

Related Party Transac�ons

There were no related party transactions during this year (2021/22: none). Trustees have added into the Standing Instructions for conduct of business the need to treat any further transactions with related parties as an Item of Reserved Business. This means that in future, the Officers’ Group will consider any further situations that might arise and will make a recommendation to the full Board if they wish to enter into any similar arrangement(s). The Board will be required to give final approval, or otherwise.

Rela�onship with Biomedical Industries

Since 1999, the Society has had a policy to support its relationship with the biomedical industry, and in all subsequent years has sought related Declarations of Interest from all members who have undertaken work on its behalf. Since June 2013, the Declarations of Interest have been published on the open access area of its website. These come from all who are involved in BTS Committees, Guidelines groups, SAGs and ad-hoc Working Parties. During the year Trustees and Council reviewed and amended this policy, and confirmed the Society’s policy on endorsement which states that, wherever possible, support from a single commercial source for BTS activities should not be sought or accepted. In general, the Society does not endorse any activity – including that which originates from non-commercial organisations - unless it has been involved as a partner from the start. Appendix B gives details of all companies from which the Society received support during the year.

STATEMENT OF RESPONSIBILITIES OF TRUSTEES

Members of the Board of Trustees (who are also directors of The Bri�sh Thoracic Society for the purposes of company law) are responsible for preparing the Board’s report and the financial statements in accordance with applicable law and United Kingdom Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce).

a true and fair view of the state of affairs of the charitable company and of the incoming resources and applica�on of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Board is required to:

Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation

The Board is responsible for keeping adequate accoun�ng records that disclose with reasonable accuracy at any �me the financial posi�on of the charitable company and ensure that the financial statements comply with the Companies Act 2006, the Chari�es and Trustee Investment (Scotland) Act 2005 and the Chari�es Accounts (Scotland) Regula�ons 2006 (as amended). The Board is also responsible for safeguarding the assets of the charitable and hence for taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.

In so far as Board members are aware:

There is no relevant audit information of which the charitable company’s auditor is unaware

The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information

The Board is responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 30 June 2023 was 4,480 (2022: 4,254). Each of the Board members are members of the charity but this entitles them only to voting rights. No members of the Board have any beneficial interest in the charity.

The report of the Board has been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.

Approved by the Board of Trustees on 4 October 2023 and signed on its behalf by:

Paul Walker

Dr Paul Walker

Company number 1645201 - Incorporated in the United Kingdom

Charity numbers 285174 – Registered in England and Wales

SC041209 – Registered in Scotland

17 Doughty Street and opera�onal London address WC1N 2PL

Trustees Trustees, who are also Directors under company law, who served during the year and up to the date of this report were as follows:

Trustees	Roles
Dr Charlote Addy	Chair, Workforce and Service Development Commitee
Dr Mar�n Allen MBE	Trustee - Ge�ngit Right First Time Lead
Mrs Alison Armstrong	Chair, Educa�on and Training Commitee, from November 2022
Professor Jonathan Bennet	President-elect,from November 2022
Professor James Chalmers	Chair,Science & Research Commitee
Professor Andres Floto	HonorarySecretary,from November 2022
Dr Alanna Hare	Chair, Educa�on & Training Commitee, to November 2022
Dr Simon Hart	Chair, Standards of Care Commitee, to November 2022
Professor Adam Hill	Chair, Standards of Care Commitee, from November 2022
Dr Mark Juniper	Chair, QualityImprovement Commitee
Professor Onn Min Kon	President, from November 2022 President-elect,to November 2022
Mrs Rachael Moses OBE	President,to November 2022
Dr John Park	HonoraryTreasurer
Dr Jenni Quint	Chair, Informa�on Governance Commitee, November 2022
Dr Lisa Spencer MBE	HonorarySecretary,to November 2022
Dr Laura-Jane Smith	Trustee, Environment and Sustainability, from November 2022
Dr Paul Walker	Chair of the Board
Dr Helen Ward	Trustee - NHSE Longterm Plan

Staf	Post
Angela Barnes	MembershipManager
Deborah Broughton	Execu�ve Assistant (return from Maternity leave from October 2022)
Bernice Bruce-Vanderpuije	Co-ordinator, Clinical and Strategic Programmes
Giorgio de Faveri	Communica�ons Manager,to July2022
Suzanne Howard	Coordinator, MDRTB Clinical Advice Service, from May2023
Rajeev Lakhar	CRM Manager
Maria Loughenbury	Manager,LungDiseases Registry
Chris�na Moll	Audit Programmes Manager
Rosie O’Carroll	Head of Strategic Communica�ons,
Kirs�e Opstad	Manager,Guidelines and Clinical Standards
Daniel Passes	Execu�ve Assistant (Maternity cover), to October 2022
Melanie Perry	Project Manager, Tobacco Dependency Project
Louise Preston	Head of Strategic Programmes
Ranjit Nandra	IT support
Alexandra Saywell	Communica�ons Specialist, from September 2022
Miguel Souto	Head of Clinical Programmes
Joan Thompson	Head of Finance & Events
Trine To�e	Coordinator, Educa�on and Events, from May 2023
Sally Welham	Chief Execu�ve
Kathryn Wilson	Head of Opera�ons

Bankers Co-opera�ve Bank

60 Kingsway, London WC2B 6DS

Solicitors Taylor Vinters

Merlin Place, Merlin Road, Cambridge CB4 0DP

Investment Evelyn Partners (formerly Tilney Asset Management Limited) Managers 6 Chesterfield Gardens, London W1J 5BQ Accountants JS2 Limited One Crown Square, Church Street East, Woking, Surrey GU21 6HR Auditor Haysmacintyre LLP 10 Queen Street Place, London EC4R 1AG

Independent auditor’s report to the members and trustees of The Bri�sh Thoracic Society

Opinion

for the year ended 30 June 2023 which comprise the Statement of Financial Ac�vi�es, the Balance Sheet, the Statement of Cash Flows, and notes to the financial statements, including a summary of significant accoun�ng policies. The financial repor�ng framework that has been applied in their prepara�on is applicable law and United Kingdom Accoun�ng Standards, including Financial Repor�ng Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accoun�ng Prac�ce).

give a true and fair view of the state of the charitable company’s affairs as at 30 June 2023 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion

We conducted our audit in accordance with Interna�onal Standards on Audi�ng (UK) (ISAs (UK)) and applicable law. Our responsibili�es under those standards are further described in the Auditor’s responsibili�es for the audit of the financial statements sec�on of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibili�es in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions rela�ng to going concern

basis of accoun�ng in the prepara�on of the financial statements is appropriate.

events or condi�ons that, individually or collec�vely, may cast significant doubt on the charitable company's ability to con�nue as a going concern for a period of at least twelve months from when

Our responsibili�es and the responsibili�es of the trustees with respect to going concern are described in the relevant sec�ons of this report.

Other informa�on

The trustees are responsible for the other informa�on. The other informa�on comprises the informa�on included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other informa�on and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

informa�on and, in doing so, consider whether the other informa�on is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we iden�fy such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other informa�on. If, based on the work we have performed, we conclude that there is a material misstatement of this other informa�on, we are required to report that fact. We have nothing to report in this regard.

Opinions on other maters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Trustees’ Annual Report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements.

Maters on which we are required to report by excep�on

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not iden�fied material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following maters in rela�on to which the Companies Act 2006 and the Charity Accounts (Scotland) Regula�ons (as amended) requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the charitable company; or
the charitable company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

As explained more fully in the trustees’ responsibili�es statement set out on page 20, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the prepara�on of the financial statements and for being sa�sfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the prepara�on of financial statements that are free from material misstatement, whether due to fraud or error.

company’s ability to con�nue as a going concern, disclosing, as applicable, maters related to going concern and using the going concern basis of accoun�ng unless the trustees either intend to liquidate the charitable company or to cease opera�ons, or have no realis�c alterna�ve but to do so.

whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the

Irregulari�es, including fraud, are instances of non-compliance with laws and regula�ons. We design procedures in line with our responsibili�es, outlined above, to detect material misstatements in respect of irregulari�es, including fraud. The extent to which our procedures are capable of detec�ng irregulari�es, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we iden�fied that the principal risks of non-compliance with laws and regula�ons related to the Companies Act 2006, Chari�es Act 2011, Charity Accounts (Scotland) Regula�ons (as amended), and Chari�es and Trustee Investment (Scotland) Act 2005, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regula�ons that have a direct impact on the prepara�on of the financial statements such as payroll tax and sales tax.

We evaluated management’s incen�ves and opportuni�es for fraudulent manipula�on of the financial statements (including the risk of override of controls), and determined that the principal risks were related to pos�ng inappropriate journal entries to revenue and management bias in accoun�ng es�mates. Audit procedures performed by the engagement team included:

Inspecting correspondence with regulators and tax authorities;
Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
Evaluating management’s controls designed to prevent and detect irregularities;
Review of minutes of meetings;
Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
Challenging assumptions and judgements made by management in their critical accounting estimates

Because of the inherent limita�ons of an audit, there is a risk that we will not detect all irregulari�es, including those leading to a material misstatement in the financial statements or non-compliance with regula�on. This risk increases the more that compliance with a law or regula�on is removed from the events and transac�ons reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregulari�es occurring due to fraud rather than error, as fraud involves inten�onal concealment, forgery, collusion, omission or misrepresenta�on.

the Financial Repor�ng Council’s website at: www.frc.org.uk/auditorsresponsibilities. This descrip�on forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, sec�on 44(1)(c) of the Chari�es and Trustee Investment (Scotland) Act 2005 and regula�on 10 of the Chari�es Accounts (Scotland) Regula�ons 2006. Our audit work has been undertaken so that we might state to the charitable company's members those maters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permited by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Thomas Wilson (Senior Statutory Auditor)	10 Queen Street Place
For and on behalf of Haysmacintyre LLP, Statutory	London
Auditor	EC4R 1AG

Date: 16/10/23

The British Thoracic Society

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 30 June 2023

Unrestricted Note £ Income from: 2 684,441 2 68,910 2 422,862 2 1,438,926 2 - 3 57,456 2,672,595 4 40,851 4 136,405 4 1,119,821 4 998,592 4 302,574 2,598,243 322,632 5 396,984 (30,684) 366,300 366,300 Reconciliation of funds: 17 6,750,256 17 7,116,556 Total funds carried forward Transfers between funds Net income / (expenditure) and net movement in funds Net income / (expenditure) for the year and net movement in funds Total funds brought forward Investments Net gains /(losses) on investments 74,352 Investment Management costs Total income Expenditure on: Net income / (expenditure) for the year Total expenditure Net income before net gains on investments Charitable activities Research and Innovation Profile Membership Standards and Education Membership Standards and Education Research and Innovation Profile Charitable activities Donations	Restricted £ - - 65,000 - - -	Unrestricted £ 666,540 56,353 371,157 1,009,174 - 51,910	Restricted £ - - 40,000 - - -	2022 Total £ 666,540 56,353 411,157 1,009,174 - 51,910
2,672,595	65,000	2,155,134	40,000	2,195,134
40,851 136,405 1,119,821 998,592 302,574	- - 20,898 - 73,758	31,708 120,159 1,067,040 572,672 264,608	- - 45,920 - 76,926	31,708 120,159 1,112,960 572,672 341,534
2,598,243	94,656	2,056,187	122,846	2,179,033
322,632 74,352	- (29,656)	(24,477) 98,947	- (82,846)	(24,477) 16,101
396,984 (30,684)	(29,656) 30,684	74,470 -	(82,846) -	(8,376) -
366,300	1,028	74,470	(82,846)	(8,376)
366,300 6,750,256	1,028 29,342	74,470 6,675,786	(82,846) 112,188	(8,376) 6,787,974
7,116,556	30,370	6,750,256	29,342	6,779,598

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17 to the financial statements.

The British Thoracic Society

Company no. 1645201

Balance sheet

As at 30 June 2023

Note £ Fixed assets: 11 12 Current assets: 13 502,984 1,725,285 2,228,269 Liabilities: 14 (1,261,682) 17 6,333,946 782,610 Total unrestricted funds Creditors: amounts falling due within one year Net current assets Restricted income funds Unrestricted income funds: Designated funds The funds of the charity: Total net assets Investments Cash at bank and in hand Tangible assets Debtors General funds Total charity funds	2023 £ 1,517,666 4,662,673	£ 428,607 1,463,503	2022 £ 1,557,177 4,386,259
	6,180,339 966,587		5,943,436 836,162
2,228,269 (1,261,682)		1,892,110 (1,055,948)
6,333,946 782,610		6,008,649 741,607
	7,146,926		6,779,598
	30,370 7,116,556		29,342 6,750,256

	7,146,926		6,779,598

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

Approved by the Board of Trustees on 4th October 2023 and signed on its behalf by

John Park

Dr. John Park Honorary Treasurer

The British Thoracic Society

Statement of cash flows

For the year ended 30 June 2023

Note £ £ 18 166,597 57,456 (8,489) 987,379 (1,105,657) 164,496 95,185 - 261,782 1,463,503 1,725,285 Cash flows from investing activities: Dividends, interest and rents from investments Purchase of fixed assets Proceeds from investments Movement in cash held by investment managers Purchase of investments Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Net cash provided by / (used in) financing activities Change in cash and cash equivalents in the year 2023 Cash flows from operating activities Net cash provided by investing activities Net cash used in operating activities	Note £ £ 18 166,597 57,456 (8,489) 987,379 (1,105,657) 164,496 95,185 - 261,782 1,463,503 1,725,285 Cash flows from investing activities: Dividends, interest and rents from investments Purchase of fixed assets Proceeds from investments Movement in cash held by investment managers Purchase of investments Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Net cash provided by / (used in) financing activities Change in cash and cash equivalents in the year 2023 Cash flows from operating activities Net cash provided by investing activities Net cash used in operating activities	Note £ £ 18 166,597 57,456 (8,489) 987,379 (1,105,657) 164,496 95,185 - 261,782 1,463,503 1,725,285 Cash flows from investing activities: Dividends, interest and rents from investments Purchase of fixed assets Proceeds from investments Movement in cash held by investment managers Purchase of investments Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Net cash provided by / (used in) financing activities Change in cash and cash equivalents in the year 2023 Cash flows from operating activities Net cash provided by investing activities Net cash used in operating activities	£ £ 145,606 51,910 (19,701) 388,218 (166,040) (172,751) 81,636 - 227,242 1,236,261 1,463,503 2022	£ £ 145,606 51,910 (19,701) 388,218 (166,040) (172,751) 81,636 - 227,242 1,236,261 1,463,503 2022

		261,782 1,463,503		227,242 1,236,261
		1,725,285		1,463,503

The charity held no debt during the period, as such the above analysis of cash and cash equivalents serves as a reconciliation of changes in net debt.

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

1 Accounting policies

a) Statutory Information

The British Thoracic Society is a charitable company limited by guarantee and is incorporated in England and Wales (company registration number 01645201). The registered office address is 17 Doughty Street, London, WC1N 2PL.

b) Basis of preparation

The financial statements have been prepared in accordance with 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 2018) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (September 2015) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern and accordingly have prepared the accounts on a going concern basis

e) Principal risks and uncertainties

The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

f) Income

The key income streams are from Journals, Meetings and Membership.

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Membership income is accounted for in the period to which it relates. Membership reciepts in advance are recorded as deferred income.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Investment Income & Interest receivable

Investment income and interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other income received or generated for the charitable purposes.

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

1 Accounting policies (continued)

h) Expenditure (including grants) and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Raising funds (investment manager fees)

Expenditure on charitable activities includes the costs of delivering services, Meetings and other educational activities undertaken to further the purposes of the charity and their associated support costs

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Grants payable are charged in the year when the offer is conveyed to the recipient 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 been met at the year-end are noted as a commitment, but not accrued as expenditure.

i) Allocation of support costs

Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

�	Standards and Education	36%
�	Research	7%
�	Profile	13%
�	Membership	6%
�	Support costs	22%
�	Governance costs	16%
Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on
staff	time, of the amount attributable to each activity
�	Standards and Education	58%
�	Research	11%
�	Profile	21%
�	Membership	10%

Governance costs, included within total support costs, are the costs associated with the governance arrangements of the charity, namely the costs of constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

1 Accounting policies (continued)

k) Tangible fixed assets

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

� Fixtures & Fittings 10 years � Computer Equipment & Website 3 years � CRM Software 10 years � Freehold buildings 50 years Land Not Depreciated

l) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Cash at bank and in hand

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

o) Creditors and provisions

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

The charity only has financial assets and financial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1 Accounting policies (continued)

p) Pensions

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

BTS established an auto-enrolment defined contribution scheme with Legal & General with effect from 1 January 2016 (12 months earlier than required by statute) and makes employer contributions into this scheme. For employees who had their own schemes in place before this date BTS continues to make contributions into their individual schemes. Employer contributions are the same for all employees, on a sliding scale depending on employee contributions as specified in contracts of employment, and those in the auto-enrolment scheme increased their contributions during the year in line with statutory minima.

2 Income from charitable activities

Total income from charitable activities Membership Membership Sub-total for Research and Innovation Sub-total for Membership Sub-total for Education and Standards Thorax Winter Meeting Speciality Certificate Examination Standards and Education Short courses Summer Meeting Research and Innovation MDRTB project Tobacco Dependency Programme Committees Conference awards Donations Donations Sub-total for Donations	Unrestricted £ 68,910 68,910 684,441 684,441 188,517 133,406 51,939 44,000 - 5,000 - 422,862 540,259 898,667 1,438,926 2,615,139	£ - - - - - - - - 40,000 - 25,000 65,000 - - - 65,000 Restricted	2023 Total £ 68,910 68,910 684,441 684,441 188,517 133,406 51,939 44,000 40,000 5,000 25,000 487,862 540,259 898,667 1,438,926 2,680,139	2022 Total £ 56,353
				56,353 666,540
				666,540 141,859 172,269 8,179 40,000 40,000 8,850 -
				411,157 565,044 444,130
				1,009,174
				2,143,224

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

Unrestricted £ 56,353	£ - Restricted	2022 Total £ 56,353
56,353 666,540	- -	56,353 666,540
172,269 8,179 40,000 - 8,850 371,157 565,044 444,130 1,009,174 2,103,224 666,540 141,859	- - - 40,000 - 40,000 - - - 40,000 - -	172,269 8,179 40,000 40,000 8,850 666,540 141,859
		411,157 565,044 444,130
		1,009,174
		2,143,224

3 Income from investments

Income from listed investments	Unrestricted £ 57,456 57,456	£ - - Restricted	2023 Total £ 57,456	2022 Total £ 51,910
			57,456	51,910

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

4 Analysis of expenditure

Analysis of expenditure the year ended 30 June 2023
Staff costs (Note 6) Conferences Committees & guidelines Courses Publications Public relations Project & consortia costs Investment management Other Support costs Property IT costs Office running costs Depreciation Audit Accountancy Council, AGM & Board Irrecoverable VAT Other Support Costs Governance Costs Total expenditure 2023 Total expenditure 2022	Investment Management Costs £ - - - - - - - 40,851 -		Charitable	activities		Governance £ 150,888 - - - - - - - -	Support 2023 Total £ £ 213,638 964,851 - 683,723 - 16,700 66 124,204 - 299,952 35 58,039 - 249 - 40,851 - -	2022 Total £ 895,931 325,368 26,979 134,280 289,140 54,330 1,720 31,708 -
		Membership £ 57,587 - - - - - - - -	Standards & Education £ 351,075 137,439 16,700 124,138 - - 249 - -	Research £ 67,777 546,284 - - 299,952 - - - -	Profile £ 123,886 - - - - 58,004 - - -
	40,851 - - - - - - - - -	57,587 - - - - - - - - -	629,601 - - - - - - - - -	914,013 - - - - - - - - -	181,890 - 9,068 - - - - - - -	150,888 - - - - 17,670 - 15,000 - -	213,739 2,188,569 73,409 73,409 79,696 88,764 102,642 102,642 48,000 48,000 - 17,670 20,413 20,413 - 15,000 109,506 109,506 28,926 28,926	1,759,456 80,579 90,645 68,691 77,571 14,550 27,924 6,598 112,844 15,036
	- - 40,851	61,993 16,825 136,405	402,011 109,107 1,140,719	66,524 18,055 998,592	145,803 39,571 376,332	- (183,558) -	(676,331) - 2,692,899
	31,708	120,159	1,112,960	572,672	341,534	-	-	2,179,033

Of the total expenditure, £2,598,243 was unrestricted (2022: £2,032,407) and £94,656 was restricted (2022: £146,625).

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

5 Net income / (expenditure) for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting):
	2023	2022
	£	£
Depreciation	48,000	82,803
Operating lease rentals:
Equipment	-	1,260
Auditors' remuneration (excluding VAT):
Audit	18,420	15,350

6 Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Salaries and wages Social security costs Employer’s contribution to defined contribution pension schemes Recruitment Staff Development & HR Other forms of employee benefits	2023 £ 768,754 83,892 87,423 15,758 1,376 7,646	2022 £ 722,879 69,956 84,450 14,580 346 3,720
	964,849	895,931

The following number of employees received employee benefits (excluding employer national insurance and employer pension costs) during the year between:

	2023	2022
	No.	No.
£60,000 - £69,999	2	1
£70,000 - £79,999	-	-
£80,000 - £89,999	-	-
£90,000 - £99,999	1	1
£100,000 - £109,999	-	-

The total employee benefits including employer's national insurance and pension contributions of the key management personnel were £396,026 (2022: £116,927).

No termination payments were made during the year (2022: £nil).

The charity Trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £14,677 (2022: £Nil) incurred by 18 (2022: Nil) members relating to attendance at meetings of the Trustees.

7 Staff numbers

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

The average number of employees (head count based on number of staff employed) during the year was as follows:

Governance Support Standards & Education Membership Research & Innovation Profile	2023 No. 1.0 6.1 1.2 2.1 2.6 3.7	2022 No. 0.9 6.0 1.0 2.2 2.1 3.8
	16.7	16.0

8. Grants Awarded

Best Practice Fellowship BTS Winter Meeting	2023 Attendees 25	2023 £ 20,898	2022 Attendees 88	2022 £ 40,920
	25	20,898	88	40,920

Best Practice Fellowship

25 grants (2022: 88) were made in September 2023 for the 2023 Winter Meeting.

9 Related party transactions

There were no related party transactions this year, or donations from related parties (2022: None).

10 Taxation

The charitable company is exempt from corporation tax as all of its income is charitable and is applied for charitable purposes.

11 Tangible fixed assets

Eliminated on disposal At the end of the year At the start of the year Charge for the year At the start of the year Additions in year Disposals in year Cost or valuation Depreciation	Freehold property £ 1,928,460 6,856 -	Fixtures and fittings £ 114,737 - (19,872)	Computer equipment £ 379,017 1,633 (44,431)	Total £ 2,422,214 8,489 (64,303)
	1,935,316	94,865	336,219	2,366,400
	447,373 30,906 -	95,529 5,742 (19,872)	322,135 11,352 (44,431)	865,037 48,000 (64,303)

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

e year ended 30 June 2023
At the end of the year At the end of the year At the start of the year Net book value	478,279	81,399	289,056	848,734
	1,457,037	13,466	47,163	1,517,666
	1,481,087	19,208	56,882	1,557,177

Land with a value of £390,000 (2022: £390,000) is included within freehold property and not depreciated.

All of the above assets are used for charitable purposes.

12 Listed investments

Listed investments
Other debtors Prepayments Due in 1-2 years Due in 2-5 years Prepayments includes deposits for future Winter Meetings as follows: Trade debtors Overseas quoted investments Disposal proceeds Fair value at the start of the year Additions at cost Net gain on change in fair value Investments comprise: Cash held by investment broker pending reinvestment Debtors Fair value at the end of the year Historic cost at the end of the year Accrued income Cash UK quoted investments	2023 £ 4,209,865 1,105,657 (987,379) 322,632	2022 £ 4,456,520 166,040 (388,218) (24,477)
	4,650,775 11,898	4,209,865 176,394
	4,662,673	4,386,259
	2,999,428	2,635,869
	2023 £ 1,538,438 3,112,337 11,898	2022 £ 463,085 3,746,780 176,394
	4,662,673	4,386,259
	2023 £ 60,017 - 129,698 313,269	2022 £ 17,592 15,091 144,208 251,716
	502,984	428,607
	2023 £ 25,557 26,068	2022 £ 25,056 51,625

13 Debtors

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023
14 Other creditors Accruals Deferred income (Note 15) Trade creditors Creditors: amounts falling due within one year Taxes and Social Security	51,625	76,681
	2023 £ 39,726 155,728 241,030 783,175 42,023	2022 £ 34,904 146,398 170,276 671,683 32,687
	1,261,682	1,055,948

15 Deferred income

Deferred income comprises of membership subscriptions received for the period 1 July 2023 to 30 June 2024, to income received for short courses in advance of the course taking place.

Balance at the beginning of the year Amount released to income in the year Short Courses Membership Winter Meeting - Exhibitor income Winter Meeting - Delegate income Balance at the end of the year	2023 £ 671,683 (671,683) 42,010 659,195 75,900 6,070	2022 £ 667,131 (667,131) 26,715 638,333 - 6,635
	783,175	671,683

16 Analysis of net assets between funds 2023

Analysis of net assets between funds 2023
Current assets Investments Tangible fixed assets Investments Current assets Current liabilities Current liabilities Net assets at the end of the year Analysis of net assets between funds 2022 Tangible fixed assets	General unrestricted £ - - 2,044,292 (1,261,682)	Designated Funds £ 1,517,666 4,662,673 153,607 -	Restricted £ - - 30,370 -	Total funds 2023 £ 1,517,666 4,662,673 2,228,269 (1,261,682)
	782,610	6,333,946	30,370	7,146,926
	General unrestricted £ - - 1,797,556 (1,055,948)	Designated Funds £ 1,557,177 4,386,259 65,213 -	Restricted £ - - 29,342 -	Total funds 2022 £ 1,557,177 4,386,259 1,892,111 (1,055,948)

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023
17 Total restricted funds Total designated funds General funds 17 Total restricted funds Legacy Property Fund Fixed Assets Fund Investment Fund Net assets at the end of the year Restricted funds: Unrestricted funds: Designated funds: Property Fund Property Maintenance Fund Investment Fund Movements in funds 2023 Total funds Total unrestricted funds Restricted funds: Fixed Assets Fund Movements in funds 2022 Tobacco Dependency Programme Travel Grants Tobacco Dependency Programme Travel Grants Designated funds: Unrestricted funds: Property Maintenance Fund Legacy Fund	At the start of the year £ 3,074 26,268	741,608	6,008,649	29,342	6,779,599
		Income & Gains £ 40,000 25,000	Expenditure & losses £ (73,758) (20,898)	Transfers £ 30,684 -	At the end of the year £ - 30,370
	29,342	65,000	(94,656)	30,684	30,370
	1,481,087 8,860 4,386,259 76,090 56,353	- - 377,264 - 68,911	(30,906) (16,485) (40,851) (17,094)	6,856 35,964 (60,000) 1,638	1,457,037 28,339 4,662,672 60,634 125,264
	6,008,649	446,175	(105,336)	(15,542)	6,333,946
	741,607	2,549,051	(2,492,906)	(15,142)	782,610
	6,750,256	2,995,226	(2,598,242)	(30,684)	7,116,556
	6,779,598	3,060,226	(2,692,898)	-	7,146,926
	At the start of the year £ 40,000 72,188	Income & Gains £ 40,000 -	Expenditure & losses £ (76,926) (45,920)	Transfers £ - -	At the end of the year £ 3,074 26,268
	112,188	40,000	(122,846)	-	29,342
	1,511,856 25,000 4,460,161 108,423 -	- - 51,795 - 56,353	(30,769) (16,140) (31,708) (52,034) -	- - (93,989) 19,701 -	1,481,087 8,860 4,386,259 76,090 56,353

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023

6,105,440	108,148	(130,651)	(74,288)	6,008,649
570,346	2,046,986	(1,925,536)	49,811	741,607
6,675,786	2,155,134	(2,056,187)	(24,477)	6,750,256
6,787,974	2,195,134	(2,179,033)	(24,477)	6,779,598

Purposes of restricted funds

Travel Grants

Financial support for this scheme, formerly Travel Grants, came originally from GSK and Vertex in 17/18. GSK provided an additional grant of £50,000 in January 2020 and two grants were agreed in 22/23. Of these, £20,000 has been received from GSK and £5000 has been invoiced to Astra Zeneca. The grants are offered in open competition to all respiratory healthcare professionals, and are intended to support the costs of attending respiratory conferences in the UK and the abroad. The applicants are asked to demonstrate how their abstracts submitted for these conferences will help improve patient care. The awards are allocated on the basis of anonymous scoring. In this financial year, 25 grants were made to support attendances and awards at the Winter Meeting 2023. The funders have no input into the criteria for the grants, or the selection of the recipients.

Tobacco Dependency Project

The BTS Tobacco Dependency Project was formally commissioned by NHSEI in March 2021, and the Project Manager, Melanie Perry, joined BTS in June 2021 to work on a 3 year project which will aim to provide a sustainable framework of resources for improving tobacco dependence treatment by supporting clinicians working in NHS services. The project will complete in mid 2024.

Purposes of designated funds

Property Fund

The freehold of 17 Doughty Street was purchased in 2001. The fund balance represents the book value of the property including refurbishment costs. The building was valued in July 2017 - £2,800,000.

Property Maintenance Fund

The Society designates funds in order to maintain the building and meet contingencies, and has a five-year property maintenance schedule.

Investment Fund

In accordance with the reserves policy outlined in the Trustees Report, this Fund represents the value of the investment portfolio less amounts accrued and committed for refurbishments.

Fixed Asset Fund

The fixed assets fund is equivalent to the net book value of the fixtures and fittings and computer equipment. This fund has been set aside to cover the future depreciation of these fixed assets.

Legacy Fund

BTS received one legacy in the previous financial year and has been informed of another, intended to arrive in the subsequent financial year. Trustees wish to allocate these funds in support of a specific activity to support the new strategic priorities published in 22/23. Detailed proposals are to be considered in upcoming Board meetings 2024.

18 Reconciliation of net income / (expenditure) to net cash flow from operating activities

2022 £

2023 £

The British Thoracic Society

Notes to the financial statements

For the year ended 30 June 2023
Net income / (expenditure) for the reporting period (as per the statement of financial activities) Depreciation charges (Gains) / losses on investments Dividends, interest and rent from investments (Increase) / decrease in debtors Increase in creditors Net cash provided by operating activities	367,328 48,000 (322,632) (57,456) (74,377) 205,734	(8,376) 82,803 24,477 (51,910) 77,691 20,921
	166,597	145,606

19 Legal Status

The charity is a company limited by quarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

Appendix A

A

Charlote Addy Ire� Adejumo Sarah Agnew Sanjay Agrawal Ahsan Akram Jamie-Leigh Allen Mar�n Allen MBE Howard Almond Lynn Altass Joseph Aluoch Sachin Ananth William Anderson Morag Andrew Pearlene Antoine-Piterson Alison Armstrong Darius Armstrong-James Avinash Aujayeb Cris�na Avram Jonathan Ayling-Smith

B

Mathijs Backx Mona Bafadhel Peter Bailey Lucy Baker Michelle Baker Haval Balata Christopher Barber

Emily Bartlet

Sam Bartlet-Pestell Hussain Basheer Simon Baudouin Caroline Baxter Eihab Bedawi Amsalu Bekele Binegdie David Bell David Bellamy Rachel Benamore Amy Bendall Jonathan Bennet Joanna Bennet Thomas Bewick Anna Bibby Surinder Birring Kevin Blyth Charlote Bolton Graham Bothamley Stephen Bourke Aaron Braddy-Green Elinor Bradley Tracey Bradshaw Daniel Braga Laura Breach James Brown Jeremy Brown Tricia Bryant Katherine Bunclark Ka�e Burke Graham Burns Andrew Bush

C

Mathew Callister

Toby Caps�ck Charlote Carter Leo Casimo Ellis Cerrone James Chalmers Sarah Chamberlain Mitchell Samantha Chan Emma Chaplin Michelle Chatwin Nazia Chaudhuri Aneeka Chavda Christabelle Chen Peter Siu Pan Cho Colin Church Amelia Clive Meg Coleman Suzi Coles Robin Condliffe David Connell Aman Coonar John Corcoran Sonya Craig Hannah Crawford Anjali Crawshaw Andrew Creamer Ian Cropley Heidi Croucher Paul Cullinan

D

Rachel Daly

Frances Grudzinska Kevin Gruffydd-Jones

Nikki Gray Neil Greening Lizzie Grillo

Gráinne d'ancona

F

Gerry Davies Rachel Davies Mathew Fagg Sally Davies Laura Ferreras-Antolin Enya Daynes Lydia Finney Rebecca Francesca D'Cruz Malene Fischer Duneesha De Fonseka David Fishwick Mar�n Dedicoat Louise Fleming Patrick Dennison Tracey Fleming Nikesh Devani Robyn Fletcher Anand Devaraj Sophie Fletcher Damian Downey Andres Floto Francis Drobniewski William Flowers James Duckers Ian Forrest Nicholas Duffy Daryl Freeman Akshay Dwarakanath Dominika Froehlich-Jeziorek Elizabeth Fuller E Duncan Fullerton

E

Anthony Edey G Sarah Elkin Lynn Elsey Jessica Gates Joanna Elverson Johanna Gavlak Odiri Eneje Aleksandra Gawlik-Lipinski Hazel Evans Neil Gibson Rachael Evans Francis Gilchrist Mathew Evison Mark Gilchrist Vicky Ewan Ted Goodman Ahmed Fahim Stephanie Graham Johanna Feary Louis Grandjean

H

Guy Hagan Jemma Haines Pranabashis Haldar Rob Hallifax Sarah Haney Alex Haragan Susan Harden Alanna Hare Susanne Harkness Katharine Harman Natalie Harper Stephen Harrow Simon Hart Ricky Harwood Sam Hayes Joanne Heaton Sarah Hennessey Karen Heslop-Marshall Izak Heys Katherine Hickman Adam Hill Sabrine Hippolyte Ling-Pei Ho Clare Hodkinson Charlote Holland Stephen Holmes

Susan Hope	Sarah Kearney	Wei Shen Lim
Freya Howle	Carol Kelly	Marc Lipman
Alison Hughes	Alison Kent	Kate Lippiet
Gareth Hughes	Fasihul Khan	Eric Livingston
James Hull	Joanne King	Julie Lloyd
Christopher Huntley	Ruth Kingshot	Vikki Lloyd
John Hurst	Stephen Kirby-Smith	Michael Loebinger
Katharine Hurt	Merav Kliner	Tuck-Kay Loke
John Hutchinson	Onn Min Kon	Fiona Lynch
Catherine Hyams	Kar�k Kumar
	Neelam Kumar	M
I	Rashmi Kumar
		Jim Macfarlane
	Heinke Kunst
Hasnaa Ismail-Koch		Yvonne Macnicol
	Om Prakash Kurmi
Sriram Iyer		Lavinia Magee
	L	Hayley Mainman
J		Anirban Maitra
	Lynn Ladbrook	William Man
David Jackson
	Nicholas Lane	Swapna Mandal
Shamanthij Jayasooriya	Ross Langley	Zaheer Mangera
Bronwen Jenkinson
	Simon Langton Hewer	Stephanie Mansell
Akhilesh Jha
	Ian Laurenson	Paul Marsden
Andrew Jones
	Iain Lawrie	Henry Marshall
Benjamin Jones	Rod Lawson	Mathew Mar�n
Gavin Jones
	Andy Lee	Anthony Mar�nelli
Ricky Jones	Richard Lee	Vidan Masani
Mark Juniper	Julian Legg	Refloe Masekela
	Colm Leonard	Nick Maskell
	Adam Lewis	Hugh McGann
K	Keir Lewis	Andrew Mccallum
Jason Kalugarama	Patrick Lillie	David Mccracken
Hanna Kaur	Eric Lim	Helen Mcdill

Lorcan McGarvey Neal Navani Jacqueline Pollington Laura McNaughton Andrew Nicholson Aravind Ponnuswamy Thomas Medveczky Camus Nimmo Helen Powell Jamilah Meghji Jennifer Nixon Arun Prasad Andrew Menzies-Gow Claire Nolan Kathryn Prior Rachel Mercer Farinaz Noorzad Melanie Pritchard Ben Messer Poonam Puthran Fraser Millar O Stephen Milward Q Emma O'Dowd Paul Minnis James O'Hara Tim Quinnell Eleanor Mishra Kate Oulton Jennifer Quint Andrew Molyneux Obianuju Ozoh Olga Moncayo R Abigail Moore P David Moore Ananthakrishnan Raghuram Misha Moore Evelyn Palmer Najib Rahman Vicky Moore Rakesh Panchal Sheila Ramjug Alyn Morice Padmasayee Papineni Darren Ramsay Andrew Morley Dhruv Parekh Paul Ramsay Stephen Morris-Jones John Park Kate Renton Hazel Morrison Sean Parker Louise Restrick Kevin Mor�mer Maria Parsonage Carl Reynolds Rachael Moses OBE Padmavathi Parthasarathy Cara Roberts Yannick Mouchilli Pujan Patel Helen Roberts Anna Murphy Suman Paul Mark Roberts Mat Pavit Nicola Roberts Karen Payne Douglas Robinson N Donna Peat Esther Robinson Felicity Perrin Nicola Robinson Prasad Nagakumar Gerrard Phillips Ryan Robinson Arjun Nair Marcus Pitman Helen Rodgers Manjith Narayanan John Plevris David Ross

Andrew Rosser Daniel Smith Kay Roy Jaclyn Smith Hitasha Rupani Howard Smith Georgina Russell Laura-Jane Smith Kylie Russo Elspeth Spencer Lisa Spencer MBE S Katherine Spinks Arieta Spinou Ravijyot Saggu Kootalai Srinivasan Anita Saigal Lewis Standing Mar�n Samuels Andrew Stanton Clare Sander Mathew Steward Ramamurthy Sathyamurthy Iain Stewart Michael Scot Carol Stonham MBE Stephen Scot Laura Succony James Seddon Rajini Sudhir Affy Sepahzad Anita Sullivan Anand Shah Ema Swingwood OBE Neeraj Shah Karl Sylvester Joanna Shakespeare Joanna Szram

Ravijyot Saggu Anita Saigal Mar�n Samuels Clare Sander Ramamurthy Sathyamurthy Michael Scot Stephen Scot James Seddon Affy Sepahzad Anand Shah Neeraj Shah Joanna Shakespeare Charles Sharp Dominick Shaw Stuart Shields Fathimath Farah Shiham Delane Shingadia Sarah Sibley John Simpson Aran Singanayagam Sally Singh Rudy Sinha-Ray Claire Slinger Derek Sloan

T

Alison Talbot-Smith Hui-Leng Tan Alison Tavare Alexandra Teagle Hilary Tedd Shaun Thein Mike Thomas Rhys Thomas

Roger Thompson

Louise Thomson George Tsaknis Muhammad Tufail Daniel Tweedie

U

Mark Unstead

V

Ameet Vaghela Christopher Valerio Clare Van Halsema Ioannis Vogiatzis Aashish Vyas

W

Naomi Walker Paul Walker Steven Walker Ali Bin Waqar Emily Ward Helen Ward Thomas Ward Richard Ward Anthony Warley Nikki Webster Steven Welch Douglas West Sophie West

Jenny White

Andrea Whitney

Elizabeth Whitaker

Melissa Wickremasinghe

Ruth Wiggans

James Wildgoose

Alexander Wilkinson

Mark Wilkinson

Tom Wilkinson Andrew

Wilson Stephen Wilson Arran Woodhouse Dan

Wooton

Dariusz Wozniak

Y

Michael Yanney

Z

Appendix B

External funding/support received for annual conferences and courses.

List of Exhibitors for the Winter Meeting 2021 held in November 2021

Sponsors for Winter Mee�ng 2022

Adherium Air Liquide AMBU APR Medtech AstraZeneca BD (Bard) Broncus Medical/Uptake Medical Chiesi Creo Medical CSL Vifor Pharma UK Ltd Dolby Vivisol Gilead Sciences GSK Insmed Inspire Medical Systems It’s Interven�onal Janssen Johnson & Johnson Medtronic NuvoAir Olympus Orion Pharma Pari Medical Pentax Medical Pulmonx Rocket Medical Sanofi Genzyme Signifier Medical Technology Trudell Vertex Vitalograph Vygon

Sponsors for Summer Mee�ng 2023

AstraZeneca BD (BARD) Broncus Medical Inc /Uptake Medical Chiesi GSK Insmed It’s Interven�onal Ltd Sterling Anglian Pharmaceu�cals

Sponsors for Short Course Programme July 2022 to June 2023

AMBU BD (BARD) Broncus Medical Cook UK Erbe Medical Galvanize Therapeu�cs Olympus Keymed Pentax UK Ltd Pulmonx UK Richard Wolf Rocket Medical

The Bri�sh Thoracic Society

Table of Contents

CHAIR’S FOREWORD

OUR STRATEGY AND PURPOSE

Our Vision

Our Mission

Our strategic priori�es for 2023 – 2025

The outcomes we intend to achieve are set out as follows:

To represent the en�re mul�-professional respiratory team across the four na�ons.

Annual review

HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT

ACHIEVEMENTS AND PERFORMANCE

Standards, workforce, and educa�on

Research and innova�on

STANDARDS, WORKFORCE AND EDUCATION

Standards

Clinical Guidelines, Clinical Statements and Quality Standards

UK ILD Registry

BTS Mul� Drug-Resistant-Tuberculosis Clinical Advice Service

Clinical Audit Programme

National Respiratory Support Audit

National Pleural Services Organisational Audit 2021 – report published in 2022

Pa�ent Safety

Tobacco Dependency Project

Quality Improvement Programme for tobacco dependency treatment

Clinical Data Policy and Data Access

Joint Tuberculosis Commitee

Specialist Advisory Groups

Workforce

Educa�on

RESEARCH AND INNOVATION

PROFILE

THE BTS HEAD OFFICE TEAM

FINANCIAL REVIEW

Core costs

Investment Policy and Performance

Reserves

Funds

STRUCTURE, GOVERNANCE AND MANAGEMENT

Board of Trustees

BTS Council

Standing Commitees and Specialist Advisory Groups (SAGs)

Involving the public

Member Engagement and Involvement

Opera�onal Framework

Accoun�ng

Remunera�on

Risk Assessment and Management

Fundraising Prac�ce

Related Party Transac�ons

Rela�onship with Biomedical Industries

STATEMENT OF RESPONSIBILITIES OF TRUSTEES

Dr Paul Walker

Independent auditor’s report to the members and trustees of The Bri�sh Thoracic Society

Opinion

Basis for opinion

Conclusions rela�ng to going concern

Other informa�on

Opinions on other maters prescribed by the Companies Act 2006

Maters on which we are required to report by excep�on

Use of our report

The British Thoracic Society

For the year ended 30 June 2023

Balance sheet

As at 30 June 2023

John Park

Statement of cash flows

For the year ended 30 June 2023

Notes to the financial statements

For the year ended 30 June 2023

1 Accounting policies

a) Statutory Information

b) Basis of preparation

c) Public benefit entity

d) Going concern

e) Principal risks and uncertainties

f) Income

Investment Income & Interest receivable

g) Fund accounting