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2025-09-30-accounts

Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

for the year ended 30 September 2025

Charity number: SC008103

Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND
CONTENTS
Charity information 1
Trustees’ report 2
Independent examiner’s report to the trustees of ENT Scotland 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10

Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

CHARITY INFORMATION

Trustees/Council Members: Angus Cain (Chair)
Catriona Douglas (West of Scotland Representative)
Kerry Haddow (East of Scotland Representative)
Simon MacKean (Education Convenor) (appointed May 2025)
Jaiganesh Manickavasagam (Assistant Treasurer/Secretary)
Kerrie McAllister (West of Scotland Representative)
Louise McMurran (Treasurer)
Patrick Spielmann (Education Convenor) (resigned May 2025)
Hitesh Tailor (Webmaster)
Peter Wardrop (President)
Principal Office: 6 St Colme Street
Edinburgh, EH3 6AD
Solicitors: Wright, Johnston & Mackenzie LLP
302 St Vincent Street
Glasgow, G2 5RZ
Independent Examiner: Emma Marshall, CA
MHA
6 St Colme Street
Edinburgh, EH3 6AD
Bankers: The Co-operative Bank
PO Box 250, Delf House
Skelmersdale, WN8 6WT
Investment Managers: Rathbones
George House, 50 George Square
Glasgow, G2 1EH
Charity Number: SC008103

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ENT SCOTLAND

TRUSTEES’ REPORT

The Trustees have pleasure in presenting their report and financial statements for the year ended 30 September 2025.

OBJECTIVES AND PRINCIPAL ACTIVITIES

The aims of the charity are to foster the continuing medical education in Otology, Rhinology and Laryngology of the members and their trainees by holding meetings for the presentation of clinical research as well as demonstration of advances to the specialty.

In addition, the charity supports applications to the Guthrie Fund from both consultant and trainee members for financial support for short periods of training in centres of excellence. The charity also acts as an advisory body on otorhinolaryngological matters to other organisations.

ACHIEVEMENTS AND PERFORMANCE

ENT Scotland continues to play a significant role in promoting and supporting the specialty of ENT within Scotland and further afield. The key events in the society’s calendar are the Winter and Summer meetings. These are always very well attended and offer an opportunity for all members to meet and share clinical and academic experiences.

This year’s winter meeting was held on 8 November 2024 at the Stirling Court Hotel with 72 delegates.

The keynote Guthrie Lecture was delivered by Mr Haythan Kubba who is a consultant in Children’s ENT in Glasgow’s Royal Hospital for Children. It was entitled “Children’s ENT - A Work in Progress.”

Winter meeting agenda

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ENT SCOTLAND

TRUSTEES’ REPORT

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summer meeting agenda

The Summer 2025 meeting was held on the 8 and 10 of May 2025 at DoubleTree by Hilton Queensferry, with 93 delegates.

8 May 2025

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ENT SCOTLAND

TRUSTEES’ REPORT

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summer meeting agenda (continued)

9 May 2025

09.00-9.30 REGISTRATION

Guthrie Fund

A number of grants were awarded from the Guthrie fund this year after consideration by the council. These included:

Michael Hopkins £1,000 Paediatric Airway Fellowship in Melbourne Christopher Thompson £1,000 Paediatric Airway Fellowship in Cincinnati

The society also continues to fully support the programme of Scottish Trainee study days held in Perth and Supports the Trainees National Audit meeting held via Videoconference, although financial commitments to this are minimal.

From the medical student perspective, the society sponsors their attendance when presenting papers or posters

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

TRUSTEES’ REPORT

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary

The society continues to be very prominent in the activities of ENT surgery across Scotland. It provides a forum for education, training and support for trainees, consultants, non-consultant grades and undergraduates who have an interest in pursuing ENT as a career. We as a society strive to foster this interest in the specialty amongst our students and trainees.

Financially we remain secure with the balance of our assets and liabilities in good order although we continue to have financial challenges due to changes in the markets.

FINANCIAL REVIEW

The results for the year are set out in the Statement of Financial Activities on page 8 and show income of £28,142 (2024: £19,750) and expenditure of £26,152 (2024: £29,737). The financial statements show net income in the year of £9,772 (2024: £14,073) including investment gains over the twelve months of £7,782 (2024: £24,060).

Reserves policy

At 30 September 2025, the charity has total reserves at £212,199 (2024: £202,427) comprising unrestricted reserves of £9,580 (2024: £3,512) and endowment reserves of £202,619 (2024: £198,915).

The Trustees continue to review their reserves policy as they feel more funds could be spent on core activities while at the same time realising the need to retain a sound financial base to meet future funding requirements. At the year end the unrestricted “free” reserves are £9,580 (2024: £3,512). Trustees acknowledge the need to ensure income generated at the bi-annual events is sufficient to cover costs.

Investment policy

The charity’s investment portfolio is currently held by Rathbones on an execution only basis. The Trustees are responsible for managing the portfolio and aim to have a balanced return of both capital and interest. The Trustees note that the investments increased by £4,020 (2024: £8,406) in value over the 12 months, which included additions of £190,638, disposals of £194,400, and gains on revaluation of £7,782.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The charity is an unincorporated association. The original constitution of the charity was drawn up in 1910 and has been revised and enlarged on a number of subsequent occasions, the last of which was in 2014.

Organisation

The Trustees who served throughout the year and up to the date of this report are set out on page 1. When new Trustees are appointed, they are given an introduction to the work of the charity and provided with the information they need to fulfil their roles, which includes information about the role and responsibilities of trustees under charity law. Nominees are sought from existing Trustees and decisions are made as a group as to whether candidates are considered suitable.

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ENT SCOTLAND

TRUSTEES’ REPORT (continued)

TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the terms of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the Trustees

Angus Cain Chair

20 January 2026

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ENT SCOTLAND

I report on the financial statements of the charity for the year ended 30 September 2025 which are set out on pages 8 to 15.

Respective responsibilities of trustees and independent examiner

The charity’s trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention other than those disclosed below:

The matter that has come to my attention is:

Emma Marshall CA

20 January 2026

MHA 6 St Colme Street Edinburgh EH3 6AD

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2025

Notes
Income from:
Donations
2
Charitable activities
3
Other trading activities
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure) before
gains on investments
Net gains on investments
9
Net income and net movement in
funds
Fund balance at 30 September 2024
11
Fund balance at 30 September 2025
11
Unrestricted
£
1,290
13,536
13,300
-
28,126
-
22,058
22,058
6,068
-
6,068
3,512
9,580
Endowment
£
-
-
-
16
16
1,694
2,400
4,094
(4,078)
7,782
3,704
198,915
202,619
2025
£
1,290
13,536
13,300
16
28,142
1,694
24,458
26,152
1,990
7,782
9,772
202,427
212,199
2024
£
1,880
14,187
3,650
33
19,750
1,700
28,037
29,737
(9,987)
24,060
14,073
188,354
202,427

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

BALANCE SHEET as at 30 September 2025

Notes
Fixed assets
Investments
9
Current assets
Cash at bank
Current liabilities
Creditors
10
Net current assets
Net assets
Funds
Unrestricted fund
11,12
Endowment fund
11,12
2025
£
195,055
21,074
21,074
(3,930)
17,144
212,199
9,580
202,619
212,199
2024
£
188,952
18,105
18,105
(4,630)
13,475
202,427
3,512
198,915
202,427

These financial statements were approved and authorised for issue by the Trustees on 20 January 2026 and are signed on their behalf:

Angus Cain Chair

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2025

1 Accounting Policies

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.

Basis of preparation and going concern

The financial statements have been prepared on a going concern basis under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the financial statements. The financial statements are presented in Sterling which is the functional currency of the charity and rounded to the nearest £.

The financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Acceptable Accounting Practice.

ENT Scotland meets the definition of a public benefit entity under FRS 102.

The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. Steps are being taken to ensure sufficient income is generated on meetings and events to cover costs.

Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations and similar income, including membership subscriptions, are included in the period in which they are receivable, which is when the charity becomes entitled to the income.

Charitable income includes income from conferences, which is recognised when the charity has delivered the conference and is therefore entitled to the income, receipt is probable and the income can be measured reliably.

Income from other trading activities includes event sponsorship fees and fundraising which are recognised when the charity has delivered the event and is therefore entitled to the income.

Interest on funds held on deposit is included when receivable. Dividends are recognised once the dividends have been declared and notification has been received of the dividend due.

Expenditure

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

Expenditure on raising funds includes costs associated with generating income from the charity through its investment portfolio. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs which can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2025

1 Accounting Policies (Continued)

Expenditure (continued)

Donations payable are payments made to third parties in the furtherance of the charity’s objectives. In the case of an unconditional grant offer, this is received once the recipient has been notified of the award. This notification gives the recipient a reasonable expectation that they will receive the grant.

Support costs are allocated between governance costs and other support costs. Governance costs comprise those costs involving the public accountability of the charity and therefore include the cost of independent examination. Other support costs relate to the administrative costs of running the charity.

Fixed asset 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. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Debtors

Debtors are measured at their recoverable amount and included when reasonable certainty exists over their receipt.

Cash at bank

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

Creditors

Creditors are recognised when 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 reliably. Creditors are normally measured at their settlement amount.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised as transaction value and subsequently measured at their settlement value.

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 30 September 2025

1 Accounting Policies (Continued)

Funds

Unrestricted funds are those that can be used in accordance with the objectives of the charity at the discretion of the trustees. The charity also has a permanent endowment fund and any capital gains and losses arising on investments from part of the fund. Increase generated from the portfolio is used to fund prizes and grants.

2
Donations
Subscription fees
3
Income from charitable activities
Delegate event income
4
Income from other trading activities
Sponsorship
5
Investment income
Dividends
6
Cost of raising funds
Investment manager’s fees
Unrestricted
Unrestricted
2025
2024
£
£
1,290
1,880
Unrestricted
Unrestricted
2025
2024
£
£
13,536
14,187
Unrestricted
Unrestricted
2025
2024
£
£
13,300
3,650
Endowment
Endowment
2025
2024
£
£
16
33
Endowment
Endowment
2025
2024
£
£
1,694
1,700

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 30 September 2025

Charitable expenditure
Meeting expenses
Prizes
Grants and donations
Support costs (see below)
Unrestricted
£
16,382
-
-
5,676
22,058
Endowment
£
-
400
2,000
-
2,400
Total
2025
£
16,382
400
2,000
5,676
24,458
Total
2024
£
18,590
200
4,200
5,047
28,037

7 Charitable expenditure

Charitable expenditure comprises £22,058 (2024: £23,637) of unrestricted expenditure and £2,400 (2024: £4,400) of endowment expenditure.

Support costs
Secretarial fees
Governance costs - Independent examiner’s fee
Sundry expenses
2025
£
3,292
2,208
176
5,676
2024
£
2,560
2,086
401
5,047

8 Wages and salaries

The charity has no employees. No Trustee received any remuneration in the current or prior year. No trustee received reimbursement of support costs in the current or prior year.

9
Investments
Market value at 30 September 2024
Acquisitions at cost
Disposals proceeds
Gains on revaluation
Investment holdings
Cash held at broker
Market value at 30 September 2025
Historical cost at 30 September 2025
2025
£
188,295
190,638
(194,400)
7,782
192,315
2,740
195,055
190,638
2024
£
179,889
-
(15,654)
24,060
188,295
657
188,952
180,404

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 30 September 2025

9 Investments (continued)

Investment in individual entities held at 30 September 2025 whose value exceeds 5% of the portfolio, are as follows:

Rathbones Asset Management Core Investment Fund for Charities
Rathbones Greenback Dynamic Growth Portfolio
10
Creditors
Accruals
11
Movement in Funds
At 1 Oct
2024
Income
Expenditure
Gains/
(losses)
£
£
£
£
2024/25
Income funds:
General unrestricted
Capital funds:
3,512
28,126
(22,058)
-
Permanent endowment 198,915
16
(4,094)
7,782
Total Funds
202,427
28,142
(26,152)
7,782
Movement in Funds
At 1 Oct
2023
Income
Expenditure
Gains/
(losses)
£
£
£
£
2023/24
Income funds:
General unrestricted
Capital funds:
(7,068)
19,717
(23,637)
-
Permanent endowment
195,422
33
(6,100)
24,060
Total Funds
188,354
19,750
(29,737)
24,060
2025
£
192,315
-
2025
£
3,930
Transfers
-
-
-
Transfers
14,500
(14,500)
-
2024
£
-
188,295
2024
£
4,630
At 30 Sept
2025
£
9,580
202,619
212,199
At 30 Sept
2024
£
3,512
198,915
202,427

The General Fund represents the unrestricted funds, which the Trustees are free to use in accordance with the charity’s objects.

The Endowment Funds represents the Guthrie and Lecture funds. These funds primarily support education in the form of financing lectures and meetings, scholarship and prizes, and research schemes and projects.

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Docusign Envelope ID: DC69CCEB-5E0E-43DA-A572-B201BE8FBE76

ENT SCOTLAND

NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 30 September 2025

12 Analysis of net assets between funds

Analysis of net assets between funds

Investments
Net current assets
Analysis of net assets between funds

Investments
Net current assets
Unrestricted
funds
£
-
9,580
9,580
Unrestricted
funds
£
-
3,512
3,512
Endowment
funds
£
195,055
7,564
202,619
Endowment
funds
£
188,952
9,963
198,915
Total
2025
£
195,055
17,144
212,199
Total
2024
£
188,952
13,475
202,427

13 Related Party Transactions

Membership, meeting and event fees of £100 was received in the year from 10 Trustees/council members (2024: £100 from 11 Trustees). Such fees are charged at the same rates available to other members. Mike Hopkins, a Trustee, was awarded fellowship awards of £1,000 from the Guthrie fund in the current year. Trustees John Curran and Hitesh Tailor were both awarded fellowship awards of £1,000 from the Guthrie fund in the prior year.

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