Scottish Charity Number: SC029462
Scottish Society of Physicians
Year ended 30 June 2025
Trustees Annual Report & Accounts
Scottish Society of Physicians (Scottish Charity Number: SC029462)
For the year ended 30 June 2025
Contents
| Trustees report | 2 - 4 |
|---|---|
| Independent examiners’ report | 5 - 6 |
| Statement of receipts and payments | 7 |
| Statement of balances | 8 |
| Notes | 9 - 10 |
Page 1
Scottish Society of Physicians (Scottish Charity Number: SC029462)
REPORT OF THE TRUSTEES for the year ended 30 June 2025
The trustees present their report with the financial statements of the Society for the year ended 30 June 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.
REFERENCE AND ADMINSTRATIVE DETAILS Registered charity number
SC029462
Principal address
Royal College of Physicians of Edinburgh 9 Queen Street Edinburgh EH2 1JQ
Trustees Dr Stuart Ritchie President Elected September 2025 Dr Lindsay Reid Honorary Secretary Dr Andrew Kernohan Honorary Treasurer Dr Nicola Joss Dr Jesse Dawson Dr Katie Scott Dr Martin Perry Dr Sam Allen Dr Iqbal Malik Dr Linsay McCallum Dr Mary Joan Macleod Dr Goran Zangana Resigned September 2025 Dr Michael Freeman Resigned September 2025 Dr Margaret Duncan Resigned September 2025 Dr Hannah Robertson Resigned September 2025
Independent examiner
Ross Murray ACCA Nuvo Scotland Limited Thainstone Business Centre Offices 2&3 Thainstone, Inverurie AB51 5TB
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Society is controlled by its governing document, the Scottish Society of Physicians constitution and rules. The constitution was amended at the Annual General Meeting held on 24 October 2019. The amendment is to allow affiliate/non clinical members to join the Society. The Society constitutes an unincorporated association.
Page 2
Scottish Society of Physicians (Scottish Charity Number: SC029462)
REPORT OF THE TRUSTEES for the year ended 30 June 2025
Recruitment and appointment of new trustees
Trustees are elected at the Annual General Meeting or by written election in the interim via a poll amongst the members. Nomination for office bearers are invited from the membership.
OBJECTIVES AND ACTIVITIES
Charitable purpose
The Society’s objective is to encourage the study and discussion of clinical and scientific medical work and to promote research for the ultimate benefit of the public.
ACTIVITIES AND PERFORMANCE
Fundraising activities
The Society normally raises its funds through membership subscription and conference sponsorship. The Society also receives additional income from its investment holdings and savings interest.
Activities and achievements in year
The Society held an in person scientific meeting in September 2024 in Kilmarnock Ayrshire. The Fitzgerald Peel lecture was delivered by Professor Ian McInness. The Society awarded prizes for the following: Best Case Presentation – Dr Katherine Rider, Best Poster – Marianne Boden & Laura Crerar, Best Student Poster – Nouf Aldhelaan, Best Quick Fire Presentation – Dr Blane Gordon McMillan and The Fitzgerald Peel Prize – Dr Abbie Wilson. No new research grants were issued this year.
Financial review
During the year to 30 June 2025, there was total income of £15,164 (2024: £22,023) and total expenditure of £21,623 (2024: £24,630) resulting in a deficit of £6,459 (2024: deficit £2,607).
Meeting sponsorship was £9,516 (2024: £15,902) and total subscription income was £3,270 (2024: £3,805). In addition, there was income from investments of £2,378 (2024: £2,261) and bank interest of £nil (2024: £55).
The Society has agreed to an ethical policy regarding investments and to endeavour to invest only in areas and companies which do not adversely impact on health. It has a portfolio of investments that consists of a stocks and shares ISA account and a National Savings and Investments Account.
The Trustees did not receive any remuneration during the year (2024: £nil).
During the year the trustees claimed reimbursement of expenses amounting to £nil which were incurred in their duties as trustees (2024: £nil).
The Society held distributable funds of £10,273 (2024: £16,732). The balance in the NS&I investment bank account was £7,197 (2024: £7,197). The market value of the M&G equity investment fund was £41,111 (2024: £39,642).
FUTURE PLANS
The Trustees will continue to operate the Society in the same manner.
Page 3
Scottish Society of Physicians (Scottish Charity Number: SC029462)
REPORT OF THE TRUSTEES
for the year ended 30 June 2025
STATEMENT OF TRUSTEES RESPONSIBILTIES
The trustees are responsible for preparing the Report of the Trustees 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, the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity's constitution 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions 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.
23 Mar 2026 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Klan omston
.............................................
Andrew Kernohan Treasurer
Page 4
APPENDIX 3
’ Independent examiner s report on the accounts V2
Report to the trustees/members of
Registered charity number On the accounts of the charity for the period Set out on pages
Scottish Society of Physicians
SC029462
| Period start date | Period start date | Period start date | Period end date | |
|---|---|---|---|---|
| Day | Month | Year | Day Month Year |
|
| 01 | JULY | 2024 | TO | 30 JUNE 2025 |
| (remember to include the page numbers of additional sheets) |
| The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. |
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. |
The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. |
|---|---|---|
| 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts 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 viewgiven bythe accounts. |
||
| In the course of my examination, no matter has come to my attention [other than that disclosed on the attached page*] 1. which gives me reasonable cause to believe that in any material respect the requirements: • to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and • to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
||
| Nuvo Scotland Limited | Date: | 24 Mar 2026 |
| Ross Murray, Nuvo Scotland Limited | ||
| ACCA | ||
| Thainstone Business Centre | ||
| Offices 2&3 | ||
| Thainstone, Inverurie | ||
| AB51 5TB |
Page 5
APPENDIX 3
Disclosure section
Only complete if the examiner needs to highlight material problems.
Give here brief details of any items that the examiner wishes to disclose
==> picture [408 x 643] intentionally omitted <==
Page 6
Enter SC No. below
APPENDIX 2
Enter charity name below
SC029462
Scottish Society of Physicians
| Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians | Scottish Society of Physicians |
|---|---|---|---|---|---|---|---|---|---|---|
| Receipts andpayments accounts | ||||||||||
| For the period from |
Period start date | to | Period end date | |||||||
| Day | Month | Year | Day | Month | Year | |||||
| 01 | July | 2024 | 30 | June | 2025 |
Section A Statement of receipts and payments
| Unrestricted funds |
Restricted funds |
Expendable endowment funds |
Permanent endowment funds |
Total funds current period |
Total funds last period |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| to nearest £ | to nearest £ | to nearest £ | to nearest £ | to nearest £ | to nearest £ | ||||||
| A1 Receipts | |||||||||||
| Donations | - | - | |||||||||
| Legacies | - | - | |||||||||
| Grants | - | - | |||||||||
| Receipts from fundraising activities | - | - | |||||||||
| Gross trading receipts | - | - | |||||||||
| Income from investments other than land and buildings |
2,378 | 2,378 | 2,261 | ||||||||
| Rents from land & buildings | - | ||||||||||
| Gross receipts from other charitable activities |
12,786 | 12,786 | 19,707 | ||||||||
| Bank Interest | - | 55 | |||||||||
| A1 Sub total | A1 Sub total 15,164 | - | - | - | 15,164 | 22,023 | |||||
| A2 Receipts from asset & | |||||||||||
| investment sales | |||||||||||
| Proceeds from sale of fixed assets Proceeds from sale of investments A2 Sub total - - - Total receipts 15,164 - - ~~—~~ |
- - |
- - - 15,164 |
- - - 22,023 |
||||||||
| A3 Payments | |||||||||||
| Expenses for fundraising activities | - | - | |||||||||
| Gross trading payments | - | - | |||||||||
| Investment management costs | - | - | |||||||||
| Payments relating directly to charitable activities |
Payments relating directly to charitable 20,483 |
20,483 | 18,358 | ||||||||
| Grants and donations | - | 5,000 | |||||||||
| Governance costs: | - | ||||||||||
| Audit / independent examination | 300 | 300 | 300 | ||||||||
| Preparation of annual accounts | 840 | 840 | 972 | ||||||||
| Legal costs | - | - | |||||||||
| Other | Other | - | - | ||||||||
| - | - | ||||||||||
| **A3 Sub total ** | 21,623 | - | - | - | 21,623 | 24,630 | |||||
| A4 Payments relating to asset and | |||||||||||
| investment movements | |||||||||||
| Purchases of fixed assets - - Purchase of investments - - A4 Sub total - - - - - - Total payments 21,623 - - - 21,623 24,630 ~~SSSSS~~ |
|||||||||||
| Net receipts / (payments) A5 Transfers to / (from) funds Surplus / (deficit) for year |
6,459) ( - - - 6,459) ( 2,607) ( - 6,459) ( - - - 6,459) ( 2,607) ( ~~=——————~~ |
Page 7
APPENDIX 2
SC029462
Scottish Society of Physicians
| Section B Statement of balances | Section B Statement of balances | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Categories | Details | Unrestricted funds |
Restricted funds | Expendable endowment funds Permanent endowment funds Total current period |
Total last period | Total last period | ||||
| to nearest £ | to nearest £ | to nearest £ to nearest £ to nearest £ |
to nearest £ | |||||||
| B1 Cash funds | 23,930 23,930 26,537 6,459) ( 6,459) ( 2,607) ( - - - - 17,471 - - - 17,471 23,930 Surplus / (deficit) shown on receipts and payments account Cash and bank balances at end of year Cash and bank balances at start of year ~~—=====—~~ |
|||||||||
| (Agree balances with receipts and payments | ||||||||||
| account(s)) | - | - | - | - | - - - - |
- | - 0 | - 0 | ||
| Details | Market valuation Fund to which asset belongs |
Last year | ||||||||
| to nearest £ | to nearest £ | |||||||||
| B2 Investments | M&G Investments ~~—S=~~ |
49,111 39,642 Total 49,111 39,642 Unrestricted ~~=e~~ |
||||||||
| Details | Fund to which asset belongs | Cost (if available) Current value (if available) Fund to which asset belongs |
Last year | |||||||
| to nearest £ to nearest £ |
to nearest £ | |||||||||
| B3 Other assets | ~~= ~~ | Total - - - ~~===~~ |
- | |||||||
| Details | Amount due Fund to which liability relates |
Last year | ||||||||
| to nearest £ | to nearest £ | |||||||||
| B4 Liabilities | Accruals ~~—S=~~ |
1,125 1,068 Total 1,125 1,068 Unrestricted ~~Cpe~~ |
1,068 1,068 |
|||||||
| B5 Contingent liabilities | Details ~~——~~ |
Amount due (estimate) Last year to nearest £ to nearest £ Total - - Fund to which liability relates ~~——~~ |
- | |||||||
| Signed by one or two trustees on behalf of all the trustees |
Date of approval ANDREW KERNOHAN Signature Print Name ~~23 Mar 2026~~ ~~ee~~ |
Page 8
APPENDIX 2
Scottish Society of Physicians
SC029462
Section C Notes to the Accounts
C1 Nature and purpose of funds (may be stated on analysis of funds worksheets)
The general fund is to enable the study and the discussion of clinical and scientific medical work and to promote research for the ultimate benefit of the public.
Individual / Number of grants £ Type of activity or project supported institution made C2 Grants Total - C3a Trustee remuneration If no remuneration was paid during the period to any charity trustee or person connected to a trustee cross this box (otherwise complete section 3b) X £ Authority under which paid C3b Trustee remuneration - details
| C4a Trustee expenses C4b Trustee expenses - details C6 Other information C5 Transactions with trustees and connected persons |
If no expenses were paid to any charity trustee during the period then cross (otherwise complete section 4b) |
If no expenses were paid to any charity trustee during the period then cross (otherwise complete section 4b) |
this box | X |
|---|---|---|---|---|
| Nature of transaction | Number of trustees £ |
|||
| Nature of relationship |
Transaction amount (£) Balance outstanding at period end (£) |
|||
Page 9
APPENDIX 2
Scottish Society of Physicians
SC029462
Additional analysis (1)
Analysis of receipts and payments
1 Donations
| 1 Donations | 1 Donations | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted funds to nearest £ |
Restricted funds to nearest £ |
Expendable endowment funds to nearest £ |
Permanent endowment funds to nearest £ |
Total current period to nearest £ |
Total last period to nearest £ |
||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| Total | - | - | - | - | - | - | |||
| - | - | - | - | - | - |
2 Grants
| 2 Grants | 2 Grants | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted funds to nearest £ |
Restricted funds to nearest £ |
Total current period to nearest £ |
Total last period to nearest £ |
||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| Total 3 Gross receipts from other charitable activities |
- | - | - | - | |||||
| - Unrestricted funds to nearest £ |
- Restricted funds to nearest £ |
Expendable endowment funds to nearest £ |
Permanent endowment funds to nearest £ |
- Total current period to nearest £ |
- Total last period to nearest £ |
||||
| Subscriptions | 3,270 | 3,270 | 3,805 | ||||||
| Conference receipts | 9,516 | 9,516 | 15,902 | ||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| Total | 12,786 | - | - | - | 12,786 | 19,707 | |||
| - | - | - | - | - | - |
4 Payments relating directly to charitable activities
| Unrestricted funds to nearest £ |
Unrestricted funds to nearest £ |
Restricted funds to nearest £ |
Expendable endowment funds to nearest £ |
Permanent endowment funds to nearest £ |
Total current period to nearest £ |
Total current period to nearest £ |
Total last period to nearest £ |
||
|---|---|---|---|---|---|---|---|---|---|
| Royal College of Physicians | 11,428 | 11,428 | 5,025 | ||||||
| Medicaljournals | 0 | 0 | |||||||
| Lectureprizes | 720 | 720 | 495 | ||||||
| Conference costs | 7,632 | 7,632 | 12,538 | ||||||
| Other meetings costs | 163 | 163 | 300 | ||||||
| Legal costs | 540 | 540 | - | ||||||
| Total | 20,483 | - | - | - | 20,483 | 18,358 | |||
| - | - | - | - | - | - |
Page 10
Issuer
Nuvo Scotland Ltd
Document generated Mon, 23rd Mar 2026 12:17:38 GMT
Document fingerprint f0244cad3457a3ebb94fabded12c5b0f
Parties involved with this document
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Mon, 23rd Mar 2026 15:19:28 GMT Tue, 24th Mar 2026 12:19:29 GMT Tue, 24th Mar 2026 12:19:30 GMT Tue, 24th Mar 2026 12:19:30 GMT
Mr Andrew Kernohan - Signer (f2158da5af9b127557d47352443d0d29) Ross Murray - Signer (b2173600a1b82340a380a86392b9a1c5) Fraser Simpson - Copied In (02c832b58b04bc553c44dd824e7a3a0b) Allana Young - Copied In (0f8aa7d34e0da783b9aae2aeb1ebde89)
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Mon, 23rd Mar 2026 12:17:38 GMT Mon, 23rd Mar 2026 12:17:38 GMT
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Envelope generated with fingerprint 944f70f82d5a305c99dd0ee10f8aea19 (18.133.63.166) Document generated with fingerprint f0244cad3457a3ebb94fabded12c5b0f. (18.133.63.166) Mr Andrew Kernohan has been assigned to this envelope. (18.133.63.166) Ross Murray has been assigned to this envelope. (18.133.63.166) Fraser Simpson has been assigned to this envelope. (18.133.63.166) Allana Young has been assigned to this envelope. (18.133.63.166) Envelope has been set to automatically remind the active signer every 1 day(s). (18.133.63.166)
Envelope generated Sent the envelope to Mr Andrew Kernohan for signing Document emailed to party email Mr Andrew Kernohan viewed the envelope (86.28.80.75) Mr Andrew Kernohan signed the envelope (86.28.80.75) Sent the envelope to Ross Murray for signing (86.28.80.75) Document emailed to party email Document emailed to party email
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Sent the envelope to Fraser Simpson for signing (195.224.175.242) Sent the envelope to Allana Young for signing (195.224.175.242) This envelope has been signed by all parties (195.224.175.242) Signed document confirmation emailed to party email (195.224.175.242) Signed document confirmation emailed to party email (195.224.175.242) Signed document confirmation emailed to party email (195.224.175.242) Signed document confirmation emailed to party email (195.224.175.242) Signed document confirmation emails have been sent to all parties. Document URL:
https://api.signable.app/shareable/envelope?t=3acf67d5-7105-454b-b496-2 aad46343efd (195.224.175.242) Document emailed to party email Document emailed to party email