Charity registration number 289541
Company registration number 01794511 (England and Wales)
BRITISH MEDICAL ULTRASOUND SOCIETY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
BRITISH MEDICAL ULTRASOUND SOCIETY
CONTENTS
Page
Trustees' report
1 - 14
Statement of trustees' responsibilities
15
Independent examiner's report
16
Statement of financial activities
17
Balance sheet
18
Notes to the financial statements
19 - 27
BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 JUNE 2023
- 1 -

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS

 

Trustees

 

The trustees of the charity, who are also the directors of the company, are the Officers and other elected members of the Council of the Society as shown below. Council is the Society's governing body and consists of the Trustees as well as co-opted and ex-officio members. The members of Council which have held office since 1 July 2022 are as follows:

 

Officers

Prof A Lim    President (from December 2022)

Dr P Cantin    President-Elect (from December 2022)

Mrs C Kirkpatrick    Development Officer (from December 2018)

Dr Sian Curtis    Honorary Secretary (from December 2022)

Dr Piero Miloro    Honorary Treasurer (from December 2022)

 

 

Elected members

Dates (s) of appointment

Dr Nigel Grunshaw

(appointed January 2021 until December 2023)

Dr Jeanette Kraft

(appointed January 2021 until December 2023)

Mr Andrew Lee

(appointed January 2023 until December 2025)

Dr Pauline Mitchell

(appointed January 2023 until December 2025)

Mr Stephen Moore

(appointed January 2022 until December 2024

Mrs Ruth Reeve

(appointed January 2023 until December 2025)

Ms Shaunna Smith

(appointed January 2022 until December 2024)

 

 

Ex-officio members

Mr Colin Griffin

Senior Editor of the Journal (appointed December 2021)

Dr P Verma

Chair of Physics & Safety Committee (appointed December 2020)

Dr Barry Ward

Chair of the 2023 ASM Organising Committee

Co-opted Members

Dr Robin Hughes     (appointed December 2021)

Dr Andrew Logan     (appointed March 2023)

 

The principal address of the charity and the registered office of the company are at 27 Old Gloucester Street, London WC1N 3AX. The charity is registered under the charity number 289541, and the company is incorporated with the company registration number 01794511.

 

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
Objectives and activities

 

REFERENCE AND ADMINISTRATIVE DETAILS (Continued)

 

Advisers

 

The trustees have made the following professional appointments:

 

Solicitor:             McCloy Legal, 4 The Shambles, Bradford on Avon, Wiltshire                     BA15 1JS

 

Accountant:             SBM & Co, 24 Wandsworth Road, London SW8 2JW

 

Independent Examiner:        SBM & Co, 24 Wandsworth Road, London SW8 2JW

 

Bankers:             Unity Trust Bank, 9 Brindleyplace, Birmingham B12HB

 

HR Advisers             RBS Mentor Services Limited, 36 St Andrew Square,                         Edinburgh EH2 2YB

 

Investment Manager:         Courtiers Investment Services Limited, 18a Hart Street,                     Henley-on-Thames, Oxfordshire RG9 2AU

 

During the year the following permanent members of staff formed the Secretariat of the Society and were responsible for the day-to-day running and management of the charity.

 

Ms E Tucker     - Operations & Development Manager

Mrs H Edwards    - Professional Officer

Mrs J Whyte     - Financial Officer

Mrs T Clarke     - Office Administrator

Miss C Scott     - Events Co-ordinator

Mrs M Worthington - Marketing & Communications Officer

 

 

STRUCTURE, GOVERNANCE AND MANAGEMENT

 

Status and history

BMUS is a registered charity, and a company limited by guarantee, not having share capital. Every member undertakes to contribute an amount not exceeding £1 to the assets of the charity in the event of the charity being wound-up during the period of membership, or within one year thereafter.

 

BMUS is a charitable, multi-disciplinary Society, whose healthcare professional members include radiologists, sonographers, obstetricians, physicists, veterinarians and others.

 

Originating in 1969 as an informal ultrasound group, the Society took its present name in 1977 when it became affiliated to the World and European Federations of Societies for Ultrasound in Medicine and Biology ("WFUMB"). It was incorporated on 23 February 1984, and became a registered charity on 5 June 1984.

 

BMUS is governed by the rules and regulations set down in its company Memorandum and Articles of Association as last updated in December 2022.

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -

STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)

 

Recruitment and appointment of new trustees

 

The trustees of the charity, who are also the directors of the company, are the Officers and members of the Council of the Society.

 

Recruitment, Appointment & Election

The majority of the Council members are elected by the Society's membership. Members are advised six months prior to the Annual General Meeting of vacancies arising on the Council for the following year and given the opportunity to nominate individuals for these vacant posts. The Council may also collectively nominate individuals for these posts; particularly in circumstances where it is felt specific skills are desirable in relation to a new member of the Council. Should the number of nominations for any post exceed the number of vacancies for any post, there is an online ballot with all members of BMUS having one vote per vacancy. The ballot is conducted under the direction of a returning officer, appointed by the Council, who is not a candidate in the election. Results are announced at the Society's Annual General Meeting.

 

Induction and training of new trustees

 

New trustees are sent details of their responsibilities under the requirements of Charity Law, using the guidance materials supplied by the Charity Commission. All Directors are made aware of their responsibilities under the Companies Acts. New and existing Council members are kept up to date, by the Operations & Development Manager on any new developments in relation to their training needs.

 

Organisational structure

 

The Council of BMUS, which acts as its supreme governing Board, comprises of up to 18 UK-resident members consisting of:

 

 

Whilst the Council members' roles may differ somewhat, all members vote pari passu, unless a casting vote is required, the exercise of which is at the discretion of the President who acts as Chair of Council. The overall strategic direction of BMUS is determined by the Council which takes all the key decisions in relation to the charitable activities of the Society. The 12 Trustees of the charity, who are also the Directors of the company, are the Officers and elected members of the Council.

 

The Council comprises at least two medical practitioners, at least two sonographers, and at least two physical scientists. In the event of a dispute arising as to which category a member falls into, the decision of the Council is final. The Journal Editor, who is appointed by the Council, serves for two years and is eligible for reappointment for a further period of two years.

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -

STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)

 

The Officers and the Council meet formally three times each year with the Operations & Development Manager, Professional Officer and Financial Officer in attendance.

 

The Officers have specific responsibilities in relation to the governance of the Society, and work closely with the Secretariat to pursue the goals of the charity. The day-to-day management of the activities of BMUS is delegated by the Council to the Secretariat under the principal stewardship of the Operations & Development Manager to whom the office-based staff and volunteers report. The Operations & Development Manager is accountable in the first instance to the Officers of the Council, and is responsible for key operational matters and developing strategic goals into workable annual plans of work for BMUS. Additionally, the Financial Officer and Professional Officer work closely with the Officers to ensure effective governance of the charity. The President acts as line-manager for the Operations & Development Manager and Professional Officer, the Honorary Treasurer acts as line-manager for the Financial Officer.

 

In addition to regular meetings of the Officers of the Council and the Council itself, since January 2017 the Council has operated one single committee comprising of four sub-groups; each of which has specific roles and responsibilities, and each of which is able to advise the Council in relation to their specific areas of expertise.

 

Scientific & Education Committee

 

The Scientific & Education Committee advises the Council on matters relating to the development, practice, teaching and monitoring of ultrasound in the various fields where it is used for clinical or research purposes. The committee meets twice a year and comprises of four sub groups – Editorial, Physics & Safety, Professional Development and Education. Additionally, there are 3 Clinical Subgroups namely PoCUS, Veterinary and Obstetrics. The President-Elect acts as chairman of the Scientific & Education Committee for a term of two years. The role of the committee is to oversee and bring together the work of the seven sub groups,

 

The structure of the seven sub groups is as follows:

 

i) Education Group

 

The Education Group plan and create the programme of BMUS workshops / study days and contribute to the programme for the Annual Scientific Meeting, The group is also responsible for the assessment of applications for course endorsement. The Education Group meets two times a year, and submits written minutes and reports to the Council following each meeting. The group works closely with the other groups which make up the Scientific & Education Committee to ensure that all BMUS activities are of a quality expected by the membership.

 

The current membership of the Education Group is as follows:

 

Dr Peter Cantin    Chair

Prof Richard Beese

Dr Richard Brindley

Dr Anna Maria Deganello

Mrs Alexandra Drought        

Ms Kerry Green

Mr Colin Griffin

Dr Nigel Grunshaw

Mrs Khalida Jan

Mr Gerry Johnson

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -

STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)

 

Education Group (cont)

 

Mrs Catherine Kirkpatrick

Dr Jeanette Kraft

Dr Andrew Logan

Mr Mark Maybury

Miss Aia Mehdi

Ms Sarah Pennant

Ms Eimer Robinson

Mrs Borsha Sarker

Ms Roxanne Sicklen

Miss Shaunna Smith

Mrs Cathy Stewart

Ms Helen Varley

Dr Barry Ward

Dr Adrian Wong

Ms Tanyah Ewen     SVT representative

Mrs Hazel Edwards     BMUS Professional Officer

Dr Mike Smith    CSP representative

Mr Tim Palarm    Industry representative - Canon Medical Systems (by invitation)

 

ii. Professional Standards Group

 

The group review and contribute to publications and guidelines on ultrasound topics of a general nature and which may affect the general practice of BMUS members. The Professional Standards Group meets two times a year, and submits written minutes and reports to the Council following each meeting. The group works closely with the other groups which make up the Scientific & Education Committee to ensure that all BMUS activities are of a quality expected by the membership.

 

The current membership of the Professional Standards Group is as follows:

 

Mrs Catherine Kirkpatrick Chair

Dr Peter Cantin

Mr Mark Charnock

Mrs Farrah Elsaghir

Mr Colin Griffin

Mrs Alison Hall

Dr Chris Harvey

Mr Stephen Moore

Mr Gerry Johnson

Mr Stephen Moore

Ms Sarah Pennant

Mrs Hilary Brooke-Clarke

Miss Alexandra Drought

Mrs Helen French

Dr Nigel Grunshaw

Mrs Sally-Anne Hill

Mr Gerry Johnson

Ms Amanda Parry

Ms Ruth Reeve

Ms Morag Stout

Dr Trish Chudleigh Special Advisor

Mrs Hazel Edwards BMUS professional Officer

Miss Gill Harrison SCoR representative

Mr Mike Smith      CSP Representative

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -

STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)

Clinical Interest Groups

 

PoCUS

Obstetrics

Veterinary

 

 

 

Mrs H Edwards (Chair)

Dr T Chudleigh (Chair)

Mrs A Lloyd-Jones (Chair)

Dr A Colclough

Dr U Agrawal

A Bebbington

Dr B Jarman

Dr Anne Marie Coady

J Burnage

Prof A Lim

Dr Ashley Matthies

Dr K Murali

Dr Lee Pursglove

Mrs B Sarker

Dr N Smallwood

Dr M Smith

Mr I Stell

Dr H Venables

Dr A Wong

Dr William Wynter Bee

 

Ms A Drought

Dr N Dudley

Ms G Harrison (SCoR)

Prof C Lees

Dr Rita Phillips

Ms E Skelton

 

G Catlow

N Casey

D Chambers

B Clarke

S Cowan

N Dickinson

C Edwards

N Garrett

M Gurney

W Humphreys

J Hunt

G Jones

R Littler

S McMurrough

M Overend

G Ponte

C Skillman

N Summerfield

H Yeates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -

Editorial Group

 

The Editorial Group plans, oversees the production and has editorial control of the BMUS journal, Ultrasound. The Editorial Group meets two times a year and submits written minutes and reports to the Council following each meeting. The group works closely with the other groups which make up the Scientific & Education Committee to ensure that the Ultrasound journal is of the quality expected by the membership.

 

Editorial Group (cont)

 

The current membership of the Editorial Group is as follows:

 

Mr Colin Griffin        Chair         

Dr Timothy Canavan

Mr Stavros Daoukas

Dr Nick Dudley

Mr Christopher Edwards

Ms Michelle Fenech

Ms Glenda Mclean        

Dr Pauline Mitchell

Mrs Penny Moores

Dr Kalyana Murali        

Dr David Oxborough

Mrs Kate Smith    

Ms Emily Kent        Sage Publications

 

iii) Physics & Safety Group

 

The Physics & Safety Group’s remit is to provide informed advice to the President and the Council of BMUS on matters of medical physics and ultrasound safety, to inform the BMUS membership about medical physics and safety issues, and to be a focus for action in the UK in matters of medical physics and ultrasound safety. In addition it reviews the current literature on safety matters. The Physics & Safety Group regularly publishes a statement on the "Safe use, and potential hazards of diagnostic ultrasound", and has produced two guidelines, one on "The management of safety when using volunteers and patients for practical training in ultrasound scanning", and a second for the "Safe use of diagnostic ultrasound equipment". This second guideline document includes guidance on the use of the safety indices (Thermal Index and Mechanical Index) that are displayed on modern imaging equipment, and contains a rationale for the recommendations made. These documents are available on the BMUS website.

 

The current membership of the Physics & Safety Group is as follows:

 

Dr Prashant Verma    Chair

Miss Patricia Duffin

Dr Gail ter Haar

Prof Christoph Lees

Dr Piero Miloro

Mr David Rowland         

Dr Caroline Shaw

Mr Ben Stenberg

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -

Related parties

 

BMUS works with the following connected organisations:

 

CASE - Consortium for Accreditation of Sonographic Education

BMUS is one of seven parent bodies that are represented at CASE meetings.

 

EFSUMB - European Federation of Societies for Ultrasound in Medicine and Biology

This is a European network of ultrasound societies, of which BMUS is a member. BMUS pays a subscription annually to EFSUMB, and undertakes various projects in cooperation with EFSUMB.

 

WFUMB - World Federation of Ultrasound in Medicine and Biology

This is an international network of ultrasound societies, of which EFSUMB is a member.

 

All members of BMUS have the opportunity to attend EFSUMB and WFUMB meetings.

 

Risk & Corporate Governance Matters

 

Decisions are made by the Council, and consequently, the Council is responsible for identifying the risks to which the Society is exposed or potentially exposed in relation to any decision or series of decisions. The Council seeks to ensure that appropriate systems, procedures, and controls are put in place to avoid or adequately minimise all risks. A Risk Assessment Document is reviewed annually by the Council. The Operations & Development Managers assists the Council in identifying new risks as they arise, and is responsible for keeping the Risk Assessment Document up to date. The Council delegates certain responsibilities to Officers, the Operations & Development Manager / Financial Officer / Professional Officer or BMUS staff in line with a Delegated Authorities Matrix.

 

OBJECTIVES AND ACTIVITIES

 

Objectives and aims

 

The charitable objectives for which the charity was established are as follows:

 

  1. The advancement of the science and technology of ultrasonics as applied in medicine, and the maintenance of high standards in these fields.

  2. The advancement of education in the said science and technology, and allied science and technology in the provision of advice and information to the public in these fields.

  3. The advancement of research in the said science and technology and the publication of the results of such research.

 

Charitable Activities

 

In pursuance of its overall charitable objectives, the Society’s principal charitable activity is the dissemination of information as it relates to any and all of the fields that pertain to its charitable objectives.

 

Each year this activity is undertaken in a number of ways, including:

 

  1. the organisation of educational workshops, study days and meetings throughout the UK, and the provision of fora to discuss issues relevant to medical ultrasound;

  2. the publication and distribution to all members of a quarterly journal, “Ultrasound”; the issue of guidance to members on the application of ultrasound to medicine;

  3. support of education and research into applications of ultrasound in medicine through award schemes;

  4. support of educational issues in ultrasound through representation on CASE (the Consortium for Accreditation of Sonographic Education).

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 9 -

Significant activities

 

Indicators, Milestones & Benchmarks

 

The Council uses a range of measures each year to assess the performance of BMUS in achieving its charitable objectives. These include:

 

 

Public Benefit

 

The trustees have taken The Charity Commission's general guidance on public benefit (contained within the guidance publication "Charities and Public Benefit") into consideration in preparing their statements on public benefit contained within this trustees' annual report.

 

OBJECTIVES AND ACTIVITIES (Continued)

 

Benefits & Beneficiaries

 

In accordance with its charitable objectives, the Society strives to advance the science and technology of ultrasonics as applied in medicine, and to maintain high standards, to advance education and to advance research in these fields. In doing so, the Society seeks to improve the quality of medical care for the benefit of patients. The charity's ultimate beneficiaries are therefore patients, and benefits to patients are provided through continuing dissemination of information in relation to the Society's specialty.

 

Trustees' Assessment of Public Benefit

 

The trustees seek to make the science and usage of ultrasound more accessible to the general public; indeed membership of the Society is open to all interested members of the public on payment of the relevant membership fee. In addition the trustees strive to ensure that medical knowledge and advancement in ultrasound practice is available to the general public through the Society's website which provides patient information and links to other free sources of information. Timely comment on important issues relating to the use of ultrasound is highlighted on the website, particularly issues of concern for the general public.

 

The Society considers that it continues to show public benefit in line with its charitable objectives

 

Grantmaking

 

The Society finances a number of awards to support education and research.

 

The revised Innovation Award (previously Pump Priming Grant) is intended to embrace any initiative that furthers the aims and objectives of BMUS. The Scientific and Education Committee assesses applications for this award and makes recommendations to the Council, whose decision is final and binding. The Innovation Award holders are expected to produce a written report for the Journal on the work undertaken or to give a presentation at the Annual Scientific Meeting.

 

The revised Innovation Award had not yet been awarded and the pump priming grant was last awarded in 2016/2017.

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 10 -

Prizes are awarded for the best posters and oral presentations at the Annual Scientific Meeting each year. Posters are judged by the Scientific and Education Committee. Oral presentations are assessed by the session chairmen.

 

Sponsorship for a BMUS member to participate in the Young Investigator's session at the annual Euroson Congress is awarded to one of the oral presentation winners. All awards and prizes are open to members of the Society. Criteria for applications and assessment are available to all via the website.

 

The Young Investigator prize for 2023 will be awarded following ‘Ultrasound 2023’ Annual Scientific Meeting being held through 5th – 7th December 2023.

 

ACHIEVEMENT AND PERFORMANCE

 

Activities & Events

 

The specific aims set for 2022/2023 have been achieved and progressed..

 

BMUS ran 7 study days July 2022 - June 2023. Again, this was a mix of new and repeat events. As a multi-disciplinary society, we aim to cater to a wide range of specialties, and this is reflected in our education programme.

 

BMUS continues to seek feedback on demand for specific topics; this is invaluable when planning our programme of events.

 

Demand for the BMUS Endorsement of courses has decreased significantly due to the revision of the BMUS Endorsement Policy, as external agencies are now able to award their own CPD under the principles of CPD credits as agreed by the medical royal colleges and, in particular, the RCR. The Science & Education Committee continues to award BMUS Endorsement CPD Activity for all BMUS internal courses and the ASM.

 

The Annual Scientific Meeting ("ASM") was held in Cardiff. The excellent scientific programme attracted over 394 delegates, in addition to the 145 invited guest speakers. There were 41 scientific sessions, and 7 "hands-on" practical training sessions. Satisfaction rates expressed by the delegates were markedly high at this energetic and exciting educational event.

 

The journal, Ultrasound, continues to publish high quality articles. Council decided to allow the journal content to be indexed with PubMed Central, the process was completed in August 2016, with published articles having a 12 month embargo prior to being listed; content from the Ultrasound journal over 12 months old is now accessible on the PubMed website, with abstracts for the most recent content also listed.

 

The Society continued to produce a quarterly newsletter for members to give up to date news, which was distributed with the Ultrasound Journal in a printed version until February 2020. During the COVID-19 pandemic the members’ newsletter moved to an online format, and the print format returned early in 2023. The society also publishes a weekly e-newsletter ‘Ultrapost’.

 

From July 2022 to June 2023, 257 new members joined the Society, furthermore since January 2023 the Society has offered the opportunity for non-members to join for a discounted fee while booking for a study day, this enterprise has resulted in a further 31 new members. However, during the period 348 members retired or resigned which culminated in a decrease in the total number of members by 60 over the year.

 

Impact of Activities & Events

 

In terms of charitable activities, 2022/2023 was a successful year for the Society after returning to full educational activities following the limitations presented by the COVID pandemic. Through these activities, the journal, Ultrasound, and its website, the Society has furthered the education of many members and non-members in the field of medical ultrasound. The Innovation Award (superseded the Pump Priming Grant) continues to be part of the charitable activities of the society.

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 11 -

ACHIEVEMENT AND PERFORMANCE (Continued)

 

Public Benefit

 

During the year 2022/2023, the trustees gathered the following evidence that demonstrates to their satisfaction that BMUS continues to benefit the public through its activities targeted to achieve its charitable objectives:

 

 

FINANCIAL REVIEW

 

Financial Results of Activities & Events

 

During the year to 30 June 2023, BMUS generated £535,656 (2022: £266,818) of incoming resources and expended resources of £523,121 (2022: £272,450) principally disseminating information as it relates to any and all of the fields that pertain to the Society's charitable objectives.

 

The revenue from the journal, Ultrasound, continued to be healthy but decreased slightly from the previous year due to a fall in royalties as a consequence of PubMed Central listing.

 

The Society's Historical Collection continued to be kept in storage with a reduced floor space and cost to the Society. The collection is in the process of being digitised with a view to the removal of the physical items. The Society is in discussion with the Science Museum in relation to a number of items being moved into its collection.

 

Following a decision by the Council in 2012, the Society's members', an annual increase in line with inflation would be applied to all subscription rates, however due to the cost of living crisis membership rates have been held at their current rate since January 2022. All new members joining the Society and choosing to not to pay by Direct Debit have an administrative fee of £5 added to their subscription rate. A digital membership has been offered from 1st January 2022.

 

 

Print member

Digital Member

Digital Student / Trainee:

 

£45.00

Retired/unwaged:

£72.04

£66.04

UK Ordinary members:

£101.44

£95.44

European member:

£102.00

£96.00

Digital International member:

 

£102.00

 

The Society continued to review its financial strategies and annual and projected budgets. Financial plans are in place to ensure where possible that the Society runs activities without loss and can continue build up its reserves to an appropriate level.

 

Grant Making

 

During 2022/2023, no grants were awarded by the charity (2021/2022 - £nil). This award varies year on year dependent upon the number of applicants and the quality of submissions. All grant applications are peer reviewed and awards are only made if supported by the Council. A budget is set annually for the forthcoming financial year for awards, taking account of the total funds of the Society available for such expenditure. The funds to support these activities are not always paid out in the financial year awarded. BMUS does retain the money in BMUS bank accounts and may choose to release it in increments to support the activity of grants.

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 12 -

FINANCIAL REVIEW (Continued)

 

Reserves Policy

 

As at 30 June 2023, the Society's 'free reserves' stood at £379,281 (2022: £366,070).

 

The reserves policy is reviewed annually to ensure that the reserves continue to provide an adequate safeguard against any potential decline in key sources of revenue in the longer term. The trustees are of the opinion that the Society requires a minimum of £250,000 in its free reserves to continue to meet its operational needs, based on an assessment of the Society's risks, its short-term business plan and to cover any unpredictable future financial circumstances. The reserves currently sit at a level to sustain one year of operational needs, the Officers are closely monitoring the level at which the Society’s reserves should be set to maintain future stability.

 

Investment policy

 

Under the terms of the Articles of Association of the Society, the Council has wide ranging powers to invest the funds of the Society as it sees fit. In practice, the Council receives advice from its investment managers on an appropriate investment portfolio, and makes use of higher interest deposit accounts to retain short term surplus cash funds.

 

The Society's investment portfolio continues to be managed by Courtiers Investment Services Limited (London). The Society's investment strategy is to maintain a low-medium risk exposure portfolio principally targeted towards long-term growth. This helps to support the Society in the execution of its activities and supports future development, whilst meeting the requirements of the reserves policy.

 

The Council is kept informed of the performance of the portfolio through quarterly statements from the investment managers, and the Society meets with a representative of the investment managers at least once a year.

 

During 2022 / 2023, the market value of the investment units increased by 1.38% (2022 decrease of 4.13%).

 

FUTURE DEVELOPMENTS

 

Future Strategy

 

The trustees' long term plans for BMUS are:

 

 

 

 

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 13 -

Future Activities & Events

 

In the year from July 2023 to June 2024, the Society plans to:

 

 

 

 

 

 

 

Impact of Future Activities & Events

 

It is anticipated that the activities and events planned for 2023/2024 will continue to further the education of members and non-members in the field of medical ultrasound.

 

The trustees plan to measure the success of the Society in 2023/2024 against the following targets:

 

Public Benefit

 

In the future, the trustees intend to ensure that BMUS continues to benefit the public by:

 

 

FUNDS HELD AS CUSTODIAN FOR OTHERS

 

Although BMUS would apply restricted fund accounting to deal with incoming resources that are earmarked for a particular purpose by donors, sponsors, and other funders, the Society does not currently hold, and the trustees do not anticipate that it will in the future hold, any funds as custodian for any third party.

 

 

 

BRITISH MEDICAL ULTRASOUND SOCIETY
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 14 -

The trustees' report was approved by the Board of Trustees.

Prof A Lim
Trustee
Dated: 6 December 2023
BRITISH MEDICAL ULTRASOUND SOCIETY
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 30 JUNE 2023
- 15 -

The trustees (who are also the directors of BMUS for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company law 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 charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees and directors are required to:

 

 

The trustees and directors are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity company, and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

 

The trustees are responsible for the maintenance and integrity of the corporate and financial information on the charitable company’s website.

BRITISH MEDICAL ULTRASOUND SOCIETY
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BRITISH MEDICAL ULTRASOUND SOCIETY
- 16 -

I report to the trustees on my examination of the financial statements of British Medical Ultrasound Society (the charitable company) for the year ended 30 June 2023.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

1

accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

Pauline McAlpine FCA

For and on behalf of
SBM Associates Limited
24 Wandsworth Road
London
SW8 2JW
Dated: 6 December 2023
BRITISH MEDICAL ULTRASOUND SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
- 17 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income and endowments from:

Membership subscriptions and donations    

3
151,878
162,778
Charitable activities
4
360,609
93,727

Investment income

5
7,414
653
Other income
6
15,755
11,221
Total income
535,656
268,379
Expenditure on:

Cost of raising funds

7
7,179
1,791

Cost of charitable activities

8
515,972
275,919
Total expenditure
523,151
277,710
Net gains/(losses) on investments
12
706
(2,663)
Net movement in funds
13,211
(11,994)
Fund balances at 1 July 2022
366,070
378,064
Fund balances at 30 June 2023
379,281
366,070

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BRITISH MEDICAL ULTRASOUND SOCIETY
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 18 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
14
3,359
2,647
Investments
15
51,647
51,313
55,006
53,960
Current assets
Debtors
17
56,369
43,854
Cash at bank and in hand
442,996
430,840
499,365
474,694
Creditors: amounts falling due within one year
18
(175,090)
(162,584)
Net current assets
324,275
312,110
Total assets less current liabilities
379,281
366,070
Income funds
Unrestricted funds
379,281
366,070
379,281
366,070

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 6 December 2023
Prof A Lim
Trustee
Company registration number 01794511
BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 19 -
1
Accounting policies
Charity information

British Medical Ultrasound Society is a private company limited by guarantee incorporated in England and Wales. The registered office is 27 Old Gloucester Street, London, WC1N 3AX.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, 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)” (as amended for accounting periods commencing from 1 January 2016). The charitable company is a Public Benefit Entity as defined by FRS 102.

 

The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Membership rates were last increased in January 2022 and have been held at this rate due to the cost of living crisis. As a result the Society has revised its financial strategies and its annual and projected budgets. Financial plans are in place to ensure where possible that the Society runs activities without loss and can continue to build up its reserves to an appropriate level.

 

The trustees are of the opinion that the Society requires a minimum of £250,000 in its free reserves to continue to meet its operational needs, based on an assessment of the Society's risks, its short-term business plan and to cover any unpredictable future financial circumstances. The reserves currently sit at a level to sustain one year of operational needs, the Officers are closely monitoring the level at which the Society’s reserves should be set to maintain future stability.

 

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company.
1.4
Income
Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 20 -

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

These financial statements for the year ended 30 June 2023 are the first financial statements of British Medical Ultrasound Society prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 July 2021. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on cost
Fixtures and fittings
20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7
Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 21 -
1.9
Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 22 -
2
Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3

Membership subscriptions and donations    

Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
4,644
14,467
Membership fees
147,234
148,311
151,878
162,778
4
Charitable activities

Annual Scientific Meeting

Study days and other education

Journal and advertising royalties

Total
2023
Total
2022
2023
2023
2023
£
£
£
£
£
Sales within charitable activities
272,133
76,106
12,370
360,609
93,727
5

Investment income

Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
7,414
653
BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 23 -
6
Other income
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£

Other income

15,755
9,829

Coronavirus Job Retention Grant

-
1,392
15,755
11,221
7

Cost of raising funds

Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Advertising
6,804
1,370
Investment management
375
421
7,179
1,791
BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 24 -
8

Cost of charitable activities

2023
2022
£
£
Staff costs
130,229
122,258
Depreciation and impairment
1,333
924

Direct costs of education provision

284,166
49,195

Journal publishing costs

36,630
34,494

Website costs

11,127
11,641

EFSUMB subscription

9,810
9,565

CASE subscription

1,209
1,835

Other subscriptions

132
126

Other direct costs

3,567
4,391

Historical collection costs

2,398
3,322

Hire and maintenance of equipment

914
864

Rent rates and services

14,065
12,723

Printing postage & stationery

2,214
1,663

Staff travel and expenses

926
1,262

Computer and software

8,153
6,228

Office expenses

83
2,238
Other charitable expenditure
6,016
10,190
512,972
272,919
Share of governance costs (see note 9)
3,000
3,000
515,972
275,919
9
Support costs
Support costs
Governance costs
2023
2022
£
£
£
£
Accountancy
-
3,000
3,000
3,000
-
3,000
3,000
3,000
10
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 25 -
11
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
6
6
Employment costs
2023
2022
£
£
Wages and salaries
122,379
112,900
Social security costs
4,319
5,358
Other pension costs
3,531
4,000
130,229
122,258
There were no employees whose annual remuneration was more than £60,000.
12
Net gains/(losses) on investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Revaluation of investments
706
(2,663)
13
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 26 -
14
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 July 2022
48,042
34,934
82,976
Additions
2,045
-
2,045
At 30 June 2023
50,087
34,934
85,021
Depreciation and impairment
At 1 July 2022
45,395
34,934
80,329
Depreciation charged in the year
1,333
-
1,333
At 30 June 2023
46,728
34,934
81,662
Carrying amount
At 30 June 2023
3,359
-
3,359
At 30 June 2022
2,647
-
2,647
15
Fixed asset investments
Unlisted investments
Cash in portfolio
Total
£
£
Cost or valuation
At 1 July 2022
50,800
513
51,313
Additions
2
-
2
Valuation changes
706
-
706
Disposals
(375)
-
(375)
At 30 June 2023
51,133
513
51,646
Carrying amount
At 30 June 2023
51,133
513
51,646
At 30 June 2022
50,800
513
51,313
16
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
51,133
50,800
BRITISH MEDICAL ULTRASOUND SOCIETY
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 27 -
17
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
28,434
18,896
Prepayments and accrued income
27,935
24,958
56,369
43,854
18
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
724
5,710
Payments received on account
61,915
62,621
Trade creditors
53,793
50,546
Other creditors
1,888
1,147
Accruals and deferred income
56,770
42,560
175,090
162,584
19
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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