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2020-12-31-accounts

Company Registration Number 1962979

BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

ANNUAL REPORT AND FINANCIAL STATEMENTS

For the year ended 31 December 2020

Registered Charity No: 293854

BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

CONTENTS

Report of the Executive Committee Page 2 - 11
Auditors’ Report Page 12 -13
Statement of Financial Activities Page 14
Balance Sheet Page 15
Notes to the Financial Statements Page 16 – 22

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name:

British Association of Sport and Exercise

Medicine (BASEM)

Charity Registration Number:

293854

Company Registration Number:

1962979

Executive Committee

Dr Roger Hawkes (President)

Dr Nigel Jones (Chair) – Resigned 12[th] November 2020.

Dr Eleanor Tillett (Chair) – Appointed 12[th] November 2020.

Mr Leo Athanasatos (Treasurer) - Term of office completed 12[th ] October 2020.

Dr Ajai Seth (Treasurer) - Appointed 12th November 2020

Dr R Chatterjee (Secretary) – Appointed 12[th] November 2020

Dr Kay Brennan (Chair of Education)

Dr Patrick Wheeler (Chair of Scientific Advisory Group) – Appointed 12[th] November 2020

Dr Katie Marino (Head of Membership Services) – Appointed 12[th] November 2020.

Dr Jane Dunbar (Executive Member) – Appointed 12[th] November 2020.

Dr Dane Vishnubala (Executive Member) – Appointed 12[th] November 2020.

Professor G Smith (Professional Relations – Associates) – Term of Office completed 12[th] October 2020.

Dr Ajai Seth (Executive Member) – Term of Office completed 12[th] October 2020. Dr Dora Papadopoulou (Executive Member) – Term of Office completed 12[th] October 2020. Dr Chris Tomlinson (Executive Member) – Term of Office Completed 12[th] October 2020.

Company Secretary

Dr Robin Chatterjee

Staff

Mrs Nicky Birkinshaw (BASEM Business Development Manager) Mrs Lucy Bateman (BASEM Education Manager) Ms Amanda Harwood (BASEM Membership Manager) Mr Ian Rouse (BASEM Marketing Manager) Ms Alice Hanson (BASEM Events Co-ordinator) – resigned January 2020

Registered Office

Unit 10 Phoenix Park, Stephenson Industrial Estate, Telford Way, Coalville, LE67 3HB

Operational Address

3 Jetstream Drive, Auckley, Doncaster. DN9 3QS

Auditor

Evolve Accountants and Business Advisors Limited, Unit 10 Phoenix Park, Stephenson Industrial Estate, Telford Way, Coalville, LE67 3HB

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

Bankers

HSBC Bank Plc, 1 High Street, Doncaster

Solicitors

Paul Bullen and Co, 10 Albion Place, South Parade, Doncaster. DN1 2EG

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 21 November 1985 and registered as a charity on 3 March 1986. The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, each member is required to contribute an amount not exceeding £1.

Recruitment and Appointment of Trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Executive Committee.

There are 8 elected trustees on the Executive Committee. The trustees hold office for a period of three years (four in the case of Chair and President as per special resolution at the AGM 2017) and can be renewed for a further three years at the discretion of the AGM. They are elected to the Executive Committee as Trustees by the following process: -

A Trustee (Executive Officer) can be appointed by nomination and election from amongst the Members of the Association. No person other than a Member of the Association is eligible to be a member of the Executive Committee. Nominations for Executive Officers can be received from any Member of the Association and if more than those nominated by the Executive Committee are proposed before the AGM, a postal vote must be arranged no later than 28 days prior to the AGM. It is at the AGM that nominations are considered, and votes are counted. When the motion is passed the member takes up that position.

Trustee Induction and Training

New incoming trustees are presented with a full induction pack which includes roles and responsibilities of charity trustees and legal requirements. The BASEM Business Development Manager also supports the incoming trustees, providing information on the structure, future plans, operational policies and any other information seen to be of assistance to the post holder. All documentary changes as signatory to any official documents are put in place by the Business Development Manager at the time of the changeover of trustees.

Support is always available via email and telephone between all members of the Executive Committee and the BASEM staff team.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

Risk Management

The trustees recognise the importance of Risk Management within the framework of governance and internal control. Risk assessments, including financial and security risks, have been carried out by the trustees. The assessment is reviewed on an ongoing basis, by the BASEM Business Development Manager and the Treasurer. The outcome of these reviews is then reported to and discussed by the trustees at the Executive Committee meetings held throughout the year and the risk management policies are amended as required.

Organisational Structure

The charitable company has an Executive Committee which meets at least four times a year to deal with the business of the Association and is responsible for the governance framework and the strategic direction and policy of the charity. The four staff members also attend the Executive Committee meetings but have no voting powers.

The Executive Committee meets for the despatch of business and can adjourn and otherwise regulate their meetings as they think fit. Decisions at any meeting shall be made by a majority of votes. In the case of an equality of votes the Chairperson shall have a second or casting vote which shall be used in those circumstances to maintain the status quo. Two members of the Executive Committee may at any time summon a meeting of the Executive Committee by giving a minimum of 14 days’ notice. The quorum necessary for the transaction of the business of the Executive Committee shall be three.

All decisions on policy changes, introduction of new policy, business, discussion and agreement of all business of the sub-committees, reporting on business from the Secretary, Treasurer, and Business Development Manager are discussed and agreed at each Executive Committee Meeting. New initiatives, legal requirements and questions raised by Members are all discussed at each meeting. Every meeting is minuted and circulated to each member of the Executive Committee and is made available to Members upon request.

Day to day enquiries regarding the operational business are dealt with by the Business Development Manager and membership administration is dealt with by the Membership Manager. Educational queries are the responsibility of the Education Manager and Conference queries the responsibility of the Events Co-Ordinator.

Sub-Committees of BASEM

The Executive Committee may delegate any of its powers to sub-committees consisting of such member or members of its body together with such other Members of the Association as they may think fit. Any sub-committee so formed shall be entitled to request any Advisory Person or other person whom the sub-committee may decide to invite to attend the meetings of such sub-committee in an advisory capacity without any entitlement to vote thereat. Any sub-committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed on it by the Executive Committee. All acts and proceedings of any such sub-committee shall be fully reported back to the Executive Committee as soon as possible.

The Chairpersons of subcommittees are nominated by the Executive Committee. If at any meeting the Chairperson is not present within five minutes after the time appointed for holding the same, the members thereof present may choose one of their number to be Chairperson of that meeting.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

A sub-committee may meet and adjourn as it sees fit. Questions arising at any meeting shall be determined by a majority of votes of the members (other than Advisory Persons and any other Members not having such vote) who may be present, and in the case of an equality of votes the Chairperson shall have a second or casting vote. No resolution passed at a meeting of a sub-committee shall be valid or effective unless the resolution is confirmed by the Executive Committee.

There were five sub-committees in 2020. An Education sub-committee was responsible for the development of the education programme. A Conference sub-committee was responsible for the development of the programme for both the Spring and Annual Conferences. An Awards sub-committee was responsible for the facilitation of the bursaries, awards and sponsorships. A small sub committee was developed to facilitate the Malcolm Read Award. The 2020 Award was awarded to Dr Anna Marshall for her research into “The Effect of Dietary Nitrate Supplementation, on High Altitude Exercise Performance and Adaptation during a Military Trekking Expedition” A newly formed Scientific Advisory Group was formed towards the end of 2020.

The Post of Editor of the British Journal of Sports Medicine

The Editor of the British Journal of Sport and Medicine shall be appointed by the Executive Committee of BASEM in conjunction with the British Medical Journal Publishing Group for an initial period of three to five years. This individual appointment may be continued by the unanimous agreement of the Executive Committee. The post should be suitably remunerated. The holder of the post may attend the meetings of the Executive Committee without any voting rights.

OBJECTIVES AND ACTIVITIES FOR THE BENEFIT OF THE PUBLIC

The objects for which the Association is established are: -

Membership is offered to all healthcare professionals working in the field of sport and exercise medicine. Full membership is available to Doctors of Medicine and Allied Health Professionals eligible and registered to work within the UK. Individuals applying for membership of BASEM should be educated to degree level or equivalent to degree level (not including undergraduate students.) Categories of membership can be found on the BASEM website at www.basem.co.uk

All the policies of the Association are stated in full in the Memorandum & Articles of Association, which is available to view on the website at www.basem.co.uk.

The Association is committed to the advancement and development of knowledge and scientific study in the natural and pathological consequences of physical training and sports participation upon human health.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

To achieve this aim, BASEM will continue to co-operate with other national and international organisations to promote and raise the profile of Sport and Exercise Medicine (SEM) and organise appropriate scientific meetings, educational courses and Annual Conferences for its multi-disciplinary membership.

In partnership with the British Medical Journal Publishing Group (BMJ), the BJSM, an international journal is now published monthly with 24 issues per year, promoting clinical research papers in sport and exercise medicine.

The Executive Committee has referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The Executive Committee consider how planned activities will contribute to the aims and objectives it has set.

ACHIEVEMENTS AND PERFORMANCE

BASEM was affected by the restrictions imposed by Covid19 but was able to facilitate several education events during 2020.

The BASEM Revision Course for the FSEM Membership Exam Part Two was delivered in March 2020 at the Holiday Inn Hotel Doncaster. The course was oversubscribed with 21 delegates and made a surplus for the organisation. Unfortunately, the Part Two Exam scheduled to take place in April was cancelled.

The Spring Conference scheduled to take place on 19[th] March at the Birmingham Burlington Hotel was postponed as we entered the first period of lockdown. The Conference will be facilitated remotely on 28[th] May 2021.

The BASEM Foundation Skills Course scheduled to take place 7[th] – 10[th] June was also cancelled due to the pandemic. Over 70 people registered an interest in this course, and it is intended the course will be facilitated, face to face, in October 2021.

The BASEM Revision Course for the FSEM Membership Exam was facilitated remotely on 8[th] August in preparation for the Faculty exam on 9[th] September and attracted 32 delegates.

The Annual Conference scheduled to take place on 19[th] and 20[th] November in association with University of Brighton was postponed until 11[th] and 12[th] November 2021.

During the first period of lockdown a series of CPD to your front room was delivered to all members monthly and included topics such as Harassment in Sport, Female Athlete, AntiDoping and much more. These were very well received.

A webinar was delivered on Career Pathways which received excellent feedback.

A series of MSK resources were developed by students and junior doctors and reviewed by senior experienced clinicians. The aim is for these to be disseminated to all members early 2021.

A reciprocal arrangement was agreed with RSM of 20% discount in membership as an introductory benefit for the first year of membership.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

Other Member Benefits:

Negotiations commenced with ACSEP for a partnership agreement which would provide access to the SEM Academy online learning platform for all BASEM Members.

Governance

BASEM’s governance documents were not reviewed and therefore no changes made. The intention is to review the Memorandum of Understanding and Articles of Association for the organisation early 2021 and to present these for approval at the AGM 2021.

Business Planning

The services of an external Business Analysist/Consultant were commissioned during the year with a view to establishing a five-year business plan. A Vision and Mission Statement was developed and approved by the Executive Board. Terms of Reference were introduced and approved for the newly formed sub committees: Education, Communications, Scientific Research, Membership Services and Partnerships. A strategy day was due to be facilitated in March but was postponed due to the pandemic.

A membership survey was commissioned and facilitated by Enventure as part of the above process and its findings delivered to the Executive Board at its meeting in March 2020. The pandemic and subsequent furloughing of key staff members stalled the implementation of many of the recommendations within the report, and the plan is to revisit the action points in 2021.

Staffing Changes

Ms Alice Hanson, Events Co-ordinator, resigned from the post in January 2020 and the position remains vacant.

Website development and Social Media

BASEM continues to develop its website and CRM system. These are now fully integrated which will improve efficiency and reduce staff time in the future.

Member Services Development

The BASEM membership has shown a 7% increase throughout the year (versus a predicted 5%). The introduction of a ‘pay monthly’ has been a contributing factor in this increase as has the growth in overseas members.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

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1000
Membership Comparison 2012 ‐ 2020
950
2012
900
2013
850 2014
2015
800
2016
2017
750
2018
700 2019
2020
650
2021
600
Jan Feb Mar Apr May June Jul Aug Sept Oct Nov Dec
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BASEM Today

The BASEM Today membership magazine has continued to grow and develop and has become extremely popular. During 2020 four editions were produced. The Spring Edition was a special Commemorative 50[th] issue guest edited by Mr Graham Holloway. The Summer Edition was guest edited by Dr Sardar Bahadur and featured Boxing and Combat Sports – Reports on medical management and mental health in martial arts. The Autumn edition was guest edited by Dr Amit Mistry and Dr Tim Rogers and focussed on Mental Health Challenges. The final edition for 2020 was guest edited by Professor Yannis Pitsiladis and Dr Nick Webborn of Brighton University. It focussed on three main issues affecting the integrity of elite sport: Doping, Technological Fairness/Opportunities and the Fair Integration of Intersex and Transgender Athletes in Elite Sport.

The Malcolm Read Scholarship

BASEM was fortunate to receive a donation of £19,000 during 2007 from UKADIS, when it was wound down. This has been set aside to use in the Malcolm Read Scholarship Fund. No Award was made in 2020.

Sponsorship

During 2020 BASEM Sponsored four SEM Student Conferences and continued to fund the hosting costs of the USEMs website.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

FINANCIAL REVIEW

The results for the year show total incoming resources for the year of £770,183 Total resources expended in the year amounted to £372,269. The net incoming resources for the year amounted to £397,914

RESERVES POLICY

The Executive Committee has reviewed the reserves held by BASEM as at 31 December 2020. This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves.

The review concluded that the Association needs reserves both to enable it to progress its long term aims and to protect its current activities, to allow the Executive Committee to meet its responsibilities and ensure that it continues to operate on a going concern basis.

The Executive Committee has examined the needs, risks and challenges faced by the Association in both the short term and the medium term and have formulated a policy to meet those needs. The Executive Committee feel that the level of free reserves, being the unrestricted reserves not held in fixed assets, are satisfactory at £1,935,508. During the preparation of the budgets for 2021 further consideration is to be given to the level of free reserves that will be needed for the long-term development of the Association.

PLANS FOR 2021

BASEM plans to build on the significant progress made during 2020 in terms of financial stability and will continue to look at cost efficient ways of running the organisation to ensure the longer-term financial sustainability and growth of the Association.

BASEM plans to allocate some of the unrestricted funds achieved during 2020 to further develop the organisation and the benefits it offers to its members. These will include:

BASEM plans to continue to promote membership to both existing and potential new members. The Accountable officer is the Head of Membership Services who works closely with the Membership Manager, Business Development Manager, Marketing Manager, and Education Manager

BASEM is keen to promote physical activity to the whole population, to improve general health and to aid in the prevention and management of chronic disease and will continue to deliver training in different formats to meet learner needs as per the Moving Medicine cooperation with FSEM.

The BJSM will continue to be marketed in new territories with newly appointed Editor, Jon Drezner. It continues to be a very popular, highly regarded peer reviewed journal. BASEM is delighted to report that the BJSM impact factor has increased to 12.68.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

BASEM will facilitate a Spring Meeting on 28[th] May. This event will be delivered remotely, providing free accredited learning for all. The Annual Conference and AGM will be held 11[th] and 12th November in Brighton. BASEM also plans to run Revision Courses for the FSEM Membership Exam Parts One and Two and Foundation Skills Course.

The Executive Committee plans to maintain its investment into continually improving the facilities for its members, fostering relations with allied agencies, to develop educational facilities within Sport and Exercise Medicine, encouraging the membership to be involved in all aspects of this process. The Association will continue to support the Faculty of Sport and Exercise Medicine (FSEM) and the Programme Directors around the Home Countries who are evolving the training requirements of doctors specialising in SEM. It plans the further promotion of BASEM to allied health professionals including the establishment and promotion of SEM pathways for AHPs working in the sports arena as well as co-opting AHP’s onto the Education Committee to promote their educational requirements.

The Association continues to support undergraduate SEM Societies and offers its undergraduate student members a discounted rate of £25 per year with online-only access to the BJSM. A concessionary membership level also applies for FYI and FY2 Doctors, full time Post Graduate students in SEM, newly qualified allied healthcare professionals and SEM trainees.

RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE

The Executive Committee is responsible for preparing the Executive Committee Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Executive Committee to prepare financial statements for each financial year. Under that law the Executive Committee has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the Executive Committee must not approve the financial statements unless it is satisfied that they give a true and fair view of the affairs of the charitable company and of its incoming resources and application of resources, including income and expenditure for the financial year. In preparing those financial statements, the Executive Committee is required to:

The Executive Committee is responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to enable it to ensure that the financial statements comply with the Companies Act 2006. It is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2020 (Continued)

In so far as the Executive Committee is aware, there is no relevant audit information of which the charitable company's auditors are unaware and the Executive Committee has taken all the steps which it ought to have taken to make itself aware of any relevant audit information and to establish that the auditor is aware of that information.

AUDITORS

Evolve Accountants and Business Advisors Limited were re-appointed as the charitable company’s auditor during the year.

This report has been prepared in accordance with the 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 2015) and in accordance with the provisions applicable to companies entitled to the small companies exemptions.

Approved by the Executive Committee on 5 August 2021 and signed on its behalf by:

………………………………. (Dr Eleanor Tillett) (Chair)

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

YEAR ENDED 31 DECEMBER 2020

Opinion

We have audited the financial statements of British Association of Sport and Exercise Medicine (the 'company') for the year ended 31 December 2020 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 the provisions available for small entities, in the circumstances set out in note 14 to the financial statements, and we have fulfilled our other ethical responsibilities 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 relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify 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 information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE (Continued)

YEAR ENDED 31 DECEMBER 2020

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a 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 economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Mr James Nixon (Senior Statutory Auditor)

For and on behalf of Evolve Accountants and Business Advisors Limited Accountant & Statutory Auditor Unit 10 Phoenix Park Telford Way, Coalville

Leicestershire, LE67 3HB 5 August 2021

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2020

INCOMING RESOURCES
Incoming Resources from Generated
Funds
Investment Income
Rental Income
Other Income – JRS Grant
Incoming resources from Charitable
Activities
Total Incoming Resources
RESOURCES EXPENDED
Charitable activities
Direct Costs
Administrative Costs
Governance costs
Total Resources Expended
Net Incoming Resources
Total funds brought forward
Total funds carried forward		 Notes
2
3
4		 Unrestricted
Funds
2,672
11,288
6,629
749,594
770,183
152,831
211,457
7,981
372,269
397,914
1,894,998
2,292,912		 Restricted
Funds
-
-
-
-
-
-
-
-
-
-
17,414
17,414		 Total
Funds
2020
£
2,672
11,288
6,629
749,594
770,183
152,831
211,457
7,981
372,269
397,914
1,912,412
2,310,326		 Total
Funds
2019
£
4,817
11,540
-
812,790
829,147
321,098
250,628
17,469
589,195
239,952
1,672,460
1,912,412

The notes on pages 16 to 22 form part of these financial statements.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

BALANCE SHEET AS AT 31 DECEMBER 2020

Fixed Assets
Current Assets
Debtors
Cash at bank and in hand
Creditors
Amounts falling due within one year
Net Current Assets
Net Assets
Funds
Restricted funds
General unrestricted fund
Total Funds		 Note
8
9


10


12

 2020
£
357,404
461,112
1,571,532
2,032,644
(79,722)
1,952,922
2,310,326
17,414
2,292,912
2,310,326		 2019
£
371,061
433,563
1,145,424
1,578,987
(37,636)
1,541,351
1,912,412
17,414
1,894,998
1,912,412

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and 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 2015).

These financial statements were approved by the Executive Committee and authorised for issue on 5 August 2021, and are signed on their behalf by:

………………………………. (Mr Ajai Seth) (Treasurer)

Company Registration Number: 1962979

The notes on pages 16 to 22 form part of these financial statements

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

(a) Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)

(b)

Fund Accounting

(c) Incoming Resources

All incoming resources are included in the Statement of Financial Activities when the Association is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

(d) Resources Expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT, which cannot be recovered, and is reported as part of the expenditure to which it relates:

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (Continued)

(e) Fixed Assets

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, at varying rates:

expected useful life, at varying rates:
Item % Basis
Office Equipment 25 Straight line
Fixtures and Fittings 20 Straight line
Leasehold Buildings 2 Straight line

Website development is written off over the period to which it is considered the site will provide economic benefit – this is three years.

All items of equipment that are not consumable in nature are capitalised.

Donated assets are brought in at their second hand value at the date of receipt.

(f) Pension costs

The Association operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable are charged to the Statement of Financial Activities.

(g) Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net incoming resources.

2. INCOMING RESOURCES FROM CHARITABLE ACTIVITES

Members subscriptions
Course fees
Annual Congress income
Share of profits from Journal
Advertising in BASEM Today		 Total
Funds
2020
£
138,045
5,986
618
600,900
4,045
749,594		 Total
Funds
2019
£
137,029
36,785
70,682
567,194
1,100
812,790

All the above income relates to unrestricted fund activities.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

3. RESOURCES EXPENDED ON CHARITABLE ACTIVITES

Unrestricted
Funds
Restricted
Funds
Direct Costs
Cost of courses
7,506
-
Annual Congress expenditure
23,433
-
Cost of Journal for members
88,864
-
Cost of BASEM Today
14,974
-
BASEM awards
12,041
-
Other member resources
3,372
-
Donations
2,641
-
152,831
-
Administrative Costs
Salaries and NI
96,948
-
Pension contributions
5,410
-
Rent, storage, light and heat
1,213
-
General rates
956
-
Stationery, printing and postage
10,007
-
Telephone
1,928
-
Insurance
1,713
-
Staff travel and subsistence
1,273
-
Website and database
4,770
-
Advertising
3,373
-
Bank charges
2,759
-
Subscriptions
2,672
-
Professional fees
59,452
-
Repairs
3,344
-
Other costs
1,982
-
Depreciation
13,657
-
211,457
-

4.
GOVERNANCE COSTS
Executive Committee expenses and meeting costs
Auditors fees
All the above expenditure relates to unrestricted fund activities.		 Total
Funds
2020
£
7,506
23,433
88,864
14,974
12,041
3,372
2,641
152,831
96,948
5,410
1,213
956
10,007
1,928
1,713
1,273
4,770
3,373
2,759
2,672
59,452
3,344
1,982
13,657
211,457
Total
Funds
2020
£
3,967
4,014		 Total
Funds
2020
£
7,506
23,433
88,864
14,974
12,041
3,372
2,641
152,831
96,948
5,410
1,213
956
10,007
1,928
1,713
1,273
4,770
3,373
2,759
2,672
59,452
3,344
1,982
13,657
211,457
Total
Funds
2020
£
3,967
4,014		 Total
Funds
2019
£
20,396
96,427
77,756
14,662
35,439
-
76,418
321,098
124,058
5,518
2,349
940
13,591
1,946
1,549
7,306
380
7,896
2,345
4,437
53,275
4,413
4,174
16,451
250,628
Total
Funds
2019
£
13,434
4,035
7,981 17,469

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

5. NET INCOMING RESOURCES FOR THE YEAR

This is stated after charging:
Depreciation
Auditors’ remuneration – audit services
- non-audit services		 2020
2019
£
£
13,657
16,451
4,014
4,035
677
677

Out of pocket expenses of £3,967 were reimbursed to members of the Executive Committee (2019 - £13,434). No member of the Executive Committee received any remuneration in respect of their duties as trustees during this or the previous year.

6. STAFF COSTS AND NUMBERS

Staff costs were as follows:
Salaries
Social security costs
Pension contributions

During the year the charity made contributions into a pension fund for three members of staff. (2019: three)

The average number of employees during the year was as follows:

2020
Full time
Part time
Full time
Administrative staff
1
2
1		 2019

Part time

3

All of the members of the Executive Committee and the members of sub-committees are unpaid volunteers, and they each give a substantial amount of their time to the Association to help it continue to function in an effective and efficient manner.

7. TAXATION

The charitable company is exempt from Corporation Tax on its charitable activities.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

8. TANGIBLE FIXED ASSETS

Website
£
Cost
At 1 January 2020
44,141
Additions
-
Disposals
-
At 31 December 2020
44,141
Accumulated Depreciation
At 1 January 2020
44,141
Charge for year
-
Disposals
-
At 31 December 2020
44,141
Net Book Value
At 31 December 2020
-
At 1 January 2020
-
9.
DEBTORS
BMJ Debtor
Other debtors
Prepayments
10.
CREDITORS (AMOUNTS FALLING DUE
Trade creditors
Other taxes and social security
Accruals and other creditors		 Office
Equipment
Leasehold
Buildings
Fixtures &
Fittings
Total
£
£
£
£
35,309
394,800
11,158
485,408
-
-
-
-
-
-
-
-
35,309
394,800
11,158
485,408
29,414
31,584
9,208
114,347
4,016
7,896
1,745
13,657
-
-
-
-
33,430
39,480
10,953
128,004
1,879
355,320
205
357,404
5,895
363,216
1,950
371,061
2020
2019
£
£
445,641
416,140
1,055
3,300
14,416
14,123
461,112
433,563
WITHIN ONE YEAR)
2020
2019
£
£
972
3,922
5,380
3,476
73,370
30,238
79,722
37,636		 Total
£
485,408
-
-
485,408
114,347
13,657
-
128,004
357,404
371,061

-20-

BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Net Current assets

Net assets at 31 December 2020
 Unrestricted
Funds
£
357,404
1,935,508
2,292,912		 Restricted
Funds
£
-
17,414
17,414		 Total
£
357,404
1,952,922
2,310,326

12. RESTRICTED FUNDS

Malcolm Read Scholarship Fund
DJO BASEM Research Awards Fund		 At
01/01/20
13,015
4,399
17,414		 Incoming
Resources
-
-
-		 Outgoing
Resources
-
-
-		 At
31/12/20
13,015
4,399
17,414

Malcolm Read Scholarship Fund

The fund, currently standing at £13,015 is to support an annual award of £1,500, with emphasis being placed on clinical work within the field of SEM. The idea is to reward work by a clinician, who, in the tradition of Malcolm Read, contributes to the practice of SEM by using practical / clinical experience to shape thinking within the field. The award is intended to be accessible to relatively small projects and studies which would not otherwise attract funding or a large audience.

Applicants are required to explain how they intend to use the money. It may be used for funding international travel for further study at a Centre of Excellence, providing medical cover for touring with international sports teams, clinically based research projects within the UK, educational projects within the UK, and other projects which fall into the general category of Clinical Sport & Exercise Medicine. Successful applicants will be asked to present the findings of their work at the Annual Congress and also to submit a report on the subsequent use of their award funds.

If the judges do not feel that the work is up to standard, the awards do not have to be awarded. They are only awarded if the papers meet the marking criteria.

DJO BASEM Research Awards Fund

The fund relates to donations by DJO to provide prizes for research/educational travel to be taken following presentation of the award.

The work should include a structured abstract and be presented in the standard format of introduction, methods, results, discussion, conclusion, references and should include acknowledgement of support received. The abstract will be a maximum of 300 words and the short paper a maximum of 3000 words.

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BRITISH ASSOCIATION OF SPORT AND EXERCISE MEDICINE

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

13. OPERATING LEASES

At 31 December 2020 the Association had total future minimum lease payment commitments under non-cancellable operating leases as set out below.

2020 2019
£ £
Operating leases which expire:
Within one year - -
Between 2 to 5 years 2,785 4,698

14. APB ETHICAL STANDARDS

In common with many other organisations of our size and nature we use our auditors to assist with the preparation of the financial statements.

-22-