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2024-03-31-accounts

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Registered Charity Number 299294

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
__________________
Contents Pages
Reports
BSPGHAN reference and administrative information 1
Council’s report 2 - 4
Independent examiner’s report 5
Accounts
Statement of financial activities 6
Balance sheet 7
Principal accounting policies 8
Notes to the accounts 9 - 12

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

REFERENCE AND ADMINISTRATIVE INFORMATION

__________________

Registered charity name British Society of Paediatric Gastroenterology and Nutrition
Registered charity number Charity number 299294
Council members Dr Keith Lindley* (President 2022 – 2024)
Dr David Campbell* (President Elect 2024)
Dr Astor Rodrigues* (Convenor 2023 - 2026)
Dr Dharam Basude* (Treasurer 2023 - 2026)
Dr Sanjay Rajwal* (2023 – 2026)
Dr Jutta Koeglmeier* (2022 – 2025)
Dr David Devadason* (2024 – 2027)
Dr Elena Cernat* (2024 – 2027)
Dr James Ashton* (2024 – 2027)
Dr Shishu Sharma* (2024 – 2027)
Dr Hema Kannappen* (2024 – 2027)
Dr Christopher Bakewell (2023 – 2026)
Dr Lucy Haworth (2023 – 2026)
Dr Nkem Onyeador (2023 – 2026)
Amy Phipps (2024 – 2027)
Elizabeth O’Connor (2022 – 2025)
Dr Ed Gaynor (2022 – 2025)
*elected /appointed members and charity trustees
Registered office Seven Elms
Dark Lane
Astwood Bank
Redditch B96 6HB
Website www.bspghan.org
Bankers Lloyds Bank plc
Business banking
BX1 1LT
Independent examiner P W Hill FCA
Hillyates, Chartered Accountants
Hill House, 27 Meadowford
Newport, Saffron Walden
Essex CB11 3QL

1

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

COUNCIL’S REPORT

The Council presents its annual report with the accounts of The British Society of Paediatric Gastroenterology Hepatology and Nutrition (“BSPGHAN” or “the Society”) for the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out on page 8 of the attached accounts and comply with the Society’s governing document 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 from accounting periods commencing 1 January 2015 or later.

Structure, governance and management

The British Society of Paediatric Gastroenterology Hepatology and Nutrition is governed by a Council and various Committees in accordance with the rules of the Society. The Society’s Charitable Constitution was adopted at York RCPCH meeting in April 1997, and which has been revised at subsequent AGMs up to and including the 2024 AGM.

The business of the Society is conducted by a Council meeting three to four times a year consisting of the President, Convenor, Treasurer and chairs of the following groups: Gastroenterology, Hepatology, Pancreatitis, Nutrition, Research, Endoscopy, Education, Paediatricians with an expertise in GHN (PeGHAN), Trainees and Associate Members. A quorum of five must be present at each Council meeting and must include the President or Convenor.

In addition, Council is free to invite appropriate individuals such as CSAC Chair, Chair of the Clinical Standards Group, a representative nominated by BAPS, representatives of other professional societies, Patient Parent Groups, organisers of annual meetings, the webmaster and lay representatives to attend Council in an advisory capacity and without voting rights.

The Council

The elected (and co-opted) members of Council are charity Trustees of the Society (within the meaning prescribed by the Charities Act 1993) and are responsible for the governance of the Society.

The following were Members of Council during the year ended 31 March 2024:

Dr Keith Lindley President
Dr David Campbell President Elect*
Dr Astor Rodrigues Convenor
Dr Dharam Basude Treasurer
Dr Tassos Grammatikopoulos Pancreatitis*
Dr Sanjay Rajwal Hepatology
Dr Kornilia Nikaki Gastroenterology*
Dr David Devadason Gastroenterology*
Dr Jutta Koeglmeier Education
Dr Andrew Barclay Nutrition*
Dr Elena Cernat Nutrition*
Dr Nadeem Afzal Endoscopy*
Dr Shishu Sharma Endoscopy*
Dr Shveta Chana Paediatricians with Expertise*
Dr Hema Kannappan Paediatricians with Expertise*
Dr Marco Gasparetto Research*
Dr James Ashton Research*
Dr Christopher Bakewell Trainees**
Dr Lucy Haworth Co-Chair of CSAC**
Dr Nkem Onyeador Co-Chair of CSAC**
Lindsay Hogg Associate Members***
Amy Phipps Associate Members**
Elizabeth O’Connor BAPS**
Dr Ed Gaynor Quality Standards**
Julie Harrington Lay Representative***

2

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

COUNCIL’S REPORT

Structure, governance and management – continued

*Elected at the 9 March 2024 AGM with posts commencing with effect from the April 2024 Council meeting were Dr David Cambell as President Elect, Dr David Devadason as Chair of Gastroenterology replacing Dr Kornilia Nikaki, Elena Cernat as Chair of Nutrition replacing Dr Andrew Barclay, Dr Shishu Sharma as Chair of Endoscopy replacing Dr Nadeem Afzal, Dr James Ashton as Chair of Research replacing Dr Marco Gasparetto, and Dr Hema Kannappen as Chair of Paediatricians replacing Dr Shveta Chana. Dr Tassos Grammatikopoulos vacated his position as Chair of Pancreatitis and the position is currently vacant.

** Lucy Haworth and Nkem Onyeador, the CSAC Co Chairs, Lindsay Hogg, the Associate Members’ Group Chair, Elizabeth O’Connor, the BAPS Representative, Dr Ed Gaynor, the Chair of Quality Standards, the current vacant Lay Representative representing the Parent Patient Partnership Group, are all co-opted posts. Dr Christopher Bakewell as Trainees Representative is an invited position.

***Vacating their posts in March 2024 were Lindsay Hogg, Associate Members’ Group Joint Chair and Julie Harrington representing the Parent Patient Partnership Group

Webmasters John Lister and James Fletcher of John Lister Consulting continued to act as Website Administrators with Fatimah Alqahtani acting as Non-technical webmaster.

During the year ended 31 March 2024, no member of Council received any remuneration for services as a member of the Council (2023 - £nil).

During the year ended 31 March 2024, some members of Council received reimbursed expenses relating to expenditure incurred on Society business.

Whilst certain members of Council are actively involved in the local organisation of the Society’s Annual Meetings, no member of Council had a beneficial interest in any contract reportable as a related party transaction with the Society during the year.

The President, Convenor, Treasurer (herein after called ‘The Executive’) and other members of Council normally serve for a period of three years.

The President is elected by electronic voting of the membership if two or more applications are received one year prior to taking up office and may attend Council meetings as an observer for the twelve month period prior to taking up office. In the event of only one application being received the President Elect is voted in by a show of hands at the January AGM and takes up office the following year.

All Council Members are elected by means of electronic voting if two or more expressions of interest are received or at the AGM, by a show of hands if only one expression of interest is received.

The Trainee’s representative is elected by the Trainees group and ratified at the AGM. The Associate Members’ representative and the paediatric surgeon (who represents BAPS) are nominated by their respective groups. The organiser of the Annual meeting is invited to attend Council meetings.

Objectives and activities

The objects of the Society are the advancement of research, clinical excellence and training in paediatric gastroenterology, hepatology and nutrition.

In furtherance of these objects but no further or otherwise the Society:

(i) Fosters professional relationships with colleagues, both nationally and internationally, and

The Society has provided funding for teaching and training, as well as meeting to develop its own strategy and ensure its own good governance. It has also funded advisory committees to develop opinion and advice on a range of topics, reports on which are available from the reports that are regularly issued.

Additionally, in planning the activities for the year and for the future, Members of Council confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

3

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

COUNCIL’S REPORT

__________________

Achievements and performance

BSPGHAN is a society that brings together colleagues from a range of professional disciplines and is recognised by the Royal College of Paediatrics and Child Health (RCPCH) as the society responsible for this field of paediatric medicine.

BSPGHAN’s membership is renowned for its friendliness and inclusivity. Membership stands at around 500 members, comprising consultants and specialist trainees in paediatric gastroenterology, hepatology and nutrition: affiliated health care professionals such as specialist dieticians, nurses, pharmacists, clinical psychologists and scientists. This breadth of membership is a great benefit to the society and the wide range or professionals serve to represent our models of care for families. BSPGHAN has Professional groups and Working Parties to advocate for the key issues that our patients face.

The Annual Trainees meeting was held in Southampton October 2023 along with two virtual study days and the 2024 Society’s Annual Meeting was successfully held in Bristol in March 2024. The Annual Trainees meeting for 2024/2025 was held in October 2024 and the Society’s 2024/2025 Annual Meeting is scheduled to take place in Newcastle in March 2025.

Jennie Mort of Sovereign Conference continues in the role as Society Administrator, with support costs maintained to sustain BSPGHAN business and the third full year of the provision of Frontline Gastro to members.

Financial review

Plans for the future

Council has published a strategy document on its website covering 2023 to 2025 following a formal strategy meeting held in January 2023. The strategy envisages in 3 key areas of:

Approved by the Council on 8 January 2025 and signed on its behalf by:

Dr Dharam Basude Treasurer

4

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 MARCH 2024 TO THE COUNCIL OF THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

__________________

I report to the trustees on my examination of the accounts of The British Society of Paediatric Gastroenterology Hepatology and Nutrition (‘the society) for the year ended 31 March 2024 which comprise the statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 43 of the Charities Act 1993. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit go beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I confirm that I am qualified to undertake the examination because I am a member of the ICAEW which is one of the listed bodies.

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

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

Hillyates, Chartered Accountants Hill House, 27 Meadowford Newport, Saffron Walden Essex CB11 3QL 9 January 2025

P W Hill FCA Independent Examiner

5

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED TO 31 MARCH 2024

Note
Income and endowments from:

Donations and legacies

1
Income from charitable activities

2
Income from investments – interest receivable

Other income


Total income and endowments


Expenditure on:

Expenditure on charitable activities

Meetings costs

4.1
Membership services

4.2
Governance

4.3
Working groups and committees

4.4
Trainees’ meetings BSPGHAN contribution.

5
Research and Innovation grants

10.1
Other costs - BAPEN


Total expenditure


Net income and net movement in funds

9

Reconciliation of funds

Total unrestricted funds brought forward

9

Total unrestricted funds carried forward

9
 2024
£
68,489
162,727
6,022
-		 2023
£
63,303
266,318
2,405
2,869
237,238 334,895

140,503

29,917

13,086

977
1,454

44,863
-		 223,749
31,751
13,797
1,580
2,287
1,795
310
230,800 275,270
6,438
375,624		 59,625
315,999
382,062 375,624

All of the Society’s activities were derived from continuing operations during the above two financial years.

All recognised gains are included in the above statement of financial activities.

6

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

BALANCE SHEET AT 31 MARCH 2024

Note
Current assets
Debtors
7
Cash at bank and in hand

Creditors: amounts falling due
within one year
8
Net current assets
Total assets less current liabilities
Funds
Unrestricted funds
General fund
9
Designated funds
9
Total funds		 2024
£		 2023
£
74,822
357,809		 19,854
476,752
432,631
(50,569)		 496,606
(120,982)
382,062 375,624
382,062 375,624
370,559
11,503		 358,549
17,075
382,062 375,624

The accounts were approved by Council on 8 January 2025 and signed on its behalf by:

Dr Keith Lindley President

Council members

Dr Dharam Basude Treasurer

7

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

PRINCIPAL ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction values unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts, which have been prepared in £s sterling and are rounded to the nearest pound, cover the charity for the reporting date of 31 March 2024 and for the year ended 31 March 2024.

The accounts have been prepared in accordance with Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), issued on 16 July 2014, Update Bulletin 1 issued on 2 February 2016, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

BSPGHAN constitutes a public benefit entity as defined by FRS 102.

Assessment of going concern

COVID, economic and other world-wide events continue to pose major challenges and a high level of uncertainty for many, but Members of Council continue to have every expectation that the Society has adequate resources to continue in operation for the next twelve months in meeting its liabilities as they fall due and that the going concern basis of accounting remains appropriate.

Income recognition

All income is recognised in the statement of financial activities when the Society is entitled to the income and the amount can be quantified with reasonable accuracy and as follows:

Membership fees when due and based on the current rates of £125 for full membership, £41 for overseas membership and £25 for associate membership and the membership year to 31 March.

Annual and other meetings income comprise applicable educational and other grants and registration fees.

Bank interest when receivable.

No value is included in income and expenditure for the time donated by members.

Expenditure recognition

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

Charitable expenditure, which excludes VAT, comprises those costs incurred by the Society in the delivery of its activities and services. Under its partially exempt VAT Registration effective from 1 March 2019, the Society is entitled to recover all of input VAT on expenditure directly attributable to its vatable income and a major proportion of input VAT on other expenditure.

Allocation of support costs

Support costs have been allocated to activities on a basis consistent with the use of resources and time spent. The costs of the Administrator have been allocated 75% to membership and 25% to governance based on estimated time spent and after allowing for Annual meeting costs, council meetings expenses and other costs that can be directly allocated. The costs of the Assistant Administrator, income collection and other sundry costs have been directly allocated to membership. The Society employs no staff and uses contract services where necessary.

Fund accounting

Unrestricted funds are available for use at the discretion of the Council in furtherance of the general charitable activities.

Cash flow

The accounts do not include a cash flow statement because the Trust is exempt from the requirement to prepare such a statement under the Charities SORP (FRS 102) Update Bulletin 1.

Taxation

The Society is a registered charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities. The Society is now registered for VAT under a Partial Exemption arrangement.

8

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

__________________

1.
Donations and legacies
Note
Membership fees
3
Sponsorship agreements
2
Income from charitable activities
Note
Annual meeting – April 2022
5
Annual meeting – March 2024 (March 2023)
5
Trainees annual meeting
5
Trainees virtual study days
5
3. Membership fees and numbers
Note
Total membership fees
Full
Associate
1
Membership numbers
Full
Overseas
Honorary
Associate
4.
Cost of charitable activities
4.1 Meetings costs
Note
Annual meeting – March 2024
5
Annual meeting – share of surplus March 2024
5
Annual meeting – March 2023
5
Trainees annual meeting
5
Trainees virtual study days
5
4.2 Membership services
Note
Provision of Frontline Gastro

Allocation of support costs

6
Website and IT costs

 2024
£
42,489
26,000		 2023
£
37,303
26,000
68,489 63,303
2023
£
-
151,899
9,495
1,333		 2022
£
108,694
150,695
6,929
-
162,727 266,318
2024
£
39,144
3,345		 2023
£
34,403
2,900
42,489 37,303
2024
291
9
17		 2023
341
17
12
317
114		 370
142
431 512
2024
£
123,285
7,154
-
9,494
570		 2023
£
59,608
12,272
144,940
6,929
-
140,503 223,749
2024
£
10,240
17,263
2,414		 2023
£
9,560
19,819
2,372
29,917 31,751

9

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

4. Cost of charitable activities – continued

4.3 Governance costs

4.3 Governance costs
Note
Council meetings and related expenses
Council members indemnity insurance
Independent examiner’s fees and expenses
Allocation of support costs
6
4.4 Working party groups and committees
Note
Education
IBD group

Endoscopy

E & E

Other
 2024
£
3,059
1,267
3,300
5,460		 2023
£
4,394
1,153
3,150
5,100
13,086 13,797
2024
£
58
479
-
-
440		 2023
£
487
384
96
613
-
977 1,580

During and since the Pandemic, Council business and that undertaken by working party groups and committees have used virtual technology wherever possible and practicable.

5. Analysis of meetings

Trainees
virtual study days
Note
£
Income
Sponsors and exhibitors
2
-
Registration fees
2
1,333
BSPGHAN contribution

-

1,333
Direct expenses

Conference, accommodation and related expenses
4
570

Balance

763

Local organiser share
4
-
BSPGHAN

763
763*		 Trainees
virtual study days
Note
£
Income
Sponsors and exhibitors
2
-
Registration fees
2
1,333
BSPGHAN contribution

-

1,333
Direct expenses

Conference, accommodation and related expenses
4
570

Balance

763

Local organiser share
4
-
BSPGHAN

763
763*		 Trainees
October 2023
£
3,250
4,790
1,454		 Annual meeting
March 2024
£
62,750
89,149
-

1,333		 9,494 151,899
9,494 123,285


763		 - 28,614
-
-		 7,154
21,460
763 - 28,460

*Local organiser share is either donated to an NHS Trust or University Administered account.

6. Support costs

Administrator, including expenses
Income collection
Other costs		 Membership
(note 4)
£
16,380
792
91
Governance
(note 4)
£
5,460
-
-
5,460		 2024
£
21,840
792
91
22,723		 2023
£
24,352
416
151
17,263 24,919

10

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
____________
7.
Debtors
Annual meeting income from March 2024 (March 2023)
Annual meeting expenses prepaid for March 2025 (March 2024)
Arrears of members subscriptions

VAT repayable

Other debtors and prepayments


8.
Creditors: amounts falling due within one year
Annual meeting expenses from March 2024 (March 2023)
Annual sponsorship income in advance
Members subscriptions paid in advance/overpaid
Research grants
VAT payable
Other creditors, accruals and provisions
9.
Unrestricted funds
Unrestricted funds are made up as follows:
Balances at 1 April 2023
Applications – awards
10.1
New awards designated
10.2
Net incoming resources
Balances at 31 March 2024
10.
Designated funds – research and innovation grants
10.1
Applications made during the year
BSPGHAN Innovation grants
Joint Guts UK/BSPGHAN Research Grant
James Lind Alliance PSP for Digital Health
Technology (collaboration with BSG)
BSPGHAN Research Prizes		 ______













General
funds
£
358,549

44,863

(39,291)
6,438		 _____
2024
£
67,495
184
225
5,634
1,284		 _______
2023
£
18,369
154
200
-
1,131
19,854
2023
£
71,455
22,367
164
-
15,967
10,729
120,982
Total
£
375,624

-
-
6,438
382,062
2023
£
398
-
398
1,000
1,796
74,822
2024
£
18,821
12,000
11,646
-
-
9,102
50,569
Designated
funds
£
17,075
(44,863)

39,291
-
370,559 11,503
2024
£
10,000
29,921
4,942
-
44,863

Designated funds of £11,503 as at 31 March 2024 represent unclaimed/unspent awards and include the James Lind Alliance grant awarded during the year ended 31 March 2022.

11

THE BRITISH SOCIETY OF PAEDIATRIC GASTROENTEROLOGY HEPATOLOGY AND NUTRITION

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

__________________

10. Designated funds – research and innovation grants (continued)

10.2 Designations made during the year

Designations made during the year
Joint Guts UK/BSPGHAN Research Grant
James Lind Alliance PSP for Digital Health
Technology (joint collaboration with BSG)
Joint Guts UK/BSPGHAN small start-up grant on
pancreatic diseases
BSPGHAN Research Prizes
BSPGHAN Innovation grants		 2024
£
29,921
-
-
-
10,000		 2023
£
-
-
-
1,000
-
39,921 1,000

11. Commitments relating to the year ending 31 March 2025

To date for the year ending 31 March 2025, Council have provided funds of £254 in supporting attendees’ costs to the Nutrition and Intestinal Failure Study Day as part of its pledged support of up to £2,000 per meeting of such national educational meetings. None were requested during the period April 2023 to March 2024.

12. Members of Council remuneration and expenses and related party transactions

During the year ended 31 March 2024, no member of Council received any remuneration for services as a member of the Council (2023 - £nil).

During the year ended 31 March 2024, some members of Council received reimbursed expenses relating to expenditure incurred on Society business.

Whilst certain members of Council are actively involved in the local organisation of the Society’s Annual Meetings, no member of Council had a beneficial interest in any contract reportable as a related party transaction with the Society during the year.

12