REGISTERED COMPANY NUMBER: 12872782 (England and Wales)

REGISTERED CHARITY NUMBER: 1214738

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 September 2025

for

CMA Collaborative UK Limited

Page

Report of the Trustees

1

to

6

Independent Examiner's Report

7

Statement of Financial Activities

8

Balance Sheet

9

to

10

Notes to the Financial Statements

11

to

15

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 September 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

CMAC's Charitable Objects are the advancement of aesthetics medicine education directly or indirectly related to complications aesthetics medicine clinicians and practitioners experience so as to improve patient outcomes in such ways as the charity trustees think fit, in particular by:

1. The identification and dissemination to its membership of up to date protocols and research in aesthetics medicine;

2. Research to support the continuing developments of safe practice in aesthetics medicine;

3. Providing its membership with relevant resources on best practices in aesthetics medicine including written materials and regular webinars;

4. Facilitating collaboration and shared learning internationally;

5. Running an annual conference for aesthetics medicine clinicians and practitioners with a focus on education and learning;

6. Sponsoring the research and publishing of scientific papers on aesthetics medicine

Significant activities

CMAC registered as a charity on 29 August 2025.

We have acted consistently during this period to further the charity's purpose for the public good and in line with its Charitable Objects. The Trustees are satisfied that the Charity has consistently met its aims and charitable purpose during the period.

During the period, the main activities carried out by CMAC were:

• Arranging and running its annual flagship conference, which was held in October 2025;

• Continuing to provide its membership with relevant evidence-based education and resources (including running webinars, providing newsletters, written updates, and guidance) aimed at reducing the incidence of complications and improving patient outcomes when they occur. During this period, as set out below, we have sought to improve the dissemination of this information through the development of our mobile application functionality and resources;

• Identifying suitable research areas, and then funding the publication of relevant scientific material in relevant journals on aesthetic medicine complications as detailed further below;

• Promoting data-informed learning and reflective practice to strengthen standards across the sector;

• Working collaboratively and building relationships with appropriate professional bodies and stakeholders to disseminate good practice and learning nationally and internationally including the British College of Aesthetic Medicine (BCAM), Aesthetic and Anti-Aging Medicine Society of South Africa (AAMSA) and La Société Française de Médecine Esthétique (FME); and

• Offering clinical support and best practice to help practitioners manage complications promptly and appropriately via its helplines;

Public benefit

The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the commission in exercising their powers or duties.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The below is a summary of the main achievements of the charity during the period, identifying the difference the charity's work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.

We have acted in accordance with our Charitable Objects and sought to further the same through our activities during this period. Our membership has remained stable at 1,133 members, all of whom are healthcare professionals; we have continued to provide ongoing access to specific and relevant aesthetic medicine complication evidence, learning and knowledge, which continues to directly benefit healthcare professionals, patients and society as a whole.

Whilst our core membership are UK healthcare professionals, we have significant international representation across Europe, Africa and North America, which continues to grow through direct engagement and through our strategic international partnerships as set out above.

We have continued to promote the benefits of the Charity and membership to healthcare professionals throughout the period, and the need for effective complication management and knowledge generally, both at our flagship conference but also by representing the charity at other international conferences, both where we have been invited to attend to represent the charity and also where we have considered it beneficial to attend.

CMAC has during the period provided both members and the public with practical, evidence-based learning and support resources designed to reduce complications and improve patient outcomes as follows:

a. Webinars: We have run expert-led, CPD-accredited webinars, including anonymised case discussions to support shared learning across the community. All members have received free access to live and on-demand webinars on topics including filler-associated blindness, vascular adverse events and hyperbaric oxygen therapy. Since 2021 CMAC has produced over 70 webinars, all of our back catalogue of webinars have been available to access during this period. Many of these are CPD accredited. Access to these webinars are also available for purchase by non-members, and access details are publicly advertised.

b. Conference and recordings: CMAC's flagship annual conference features evidence-based, non-sponsored presentations from international experts. Recordings and panel discussions are available via the members' area; non-members may also purchase access to selected content. The conference during this period was held on 17th-18th October 2025. The two-day event was well-attended and well received. We had 242 delegates, from 27 different countries and 23 speakers from around the world. There was positive feedback from delegates and stakeholders including the following testimonials:

'All of the people are genuine experts, and it's really I love this conference. I came last year. It's unique in aesthetic medicine. The talks are entirely non-sponsored. All the people are genuine experts, and it's really an essential event for me every year. And having been last year, I guess, I was unsure as to whether I'd come across a lot of new information, And I really have great just to be up-to-date with what's new and what's cutting - edge in terms of complications presentations haven't used brand names. People are Presenting evidence based presentations, they're actually giving references, which is just unheard of. It's much more talking about kind of general terms, we haven't been talking about any specific brands. I think that's really important. The experience this weekend has been fantastic and for anybody who hasn't been to this conference, just pull your finger out and come'.

Dr John Quinn UK

"Complications management is as much as important as performing good treatments. I have gained new insights into treating challenging problems, complications that can be filler-related like nodules. Also, new insights on different types of vascular occlusions like arterial or venous vascular occlusions. The most valuable takeaway this weekend is the framework treating complications, and for example, taking the patients. On a more transparent journey when it comes to dissolving or using holidays, just have to come and see it by yourself'.

Dr Mauricio Cerón Behórquez (Germany)

"I have learned that there is a big community of people around me. If I were to have a complication or run into a situation, There's people right here in Chicago I know now I can reach out to it is. Exceeded my expectations by all the variety of different speakers. There's so much knowledge, you'll gain a lot of great insight, new contacts, new resources. I think for me the resources available will be very helpful going forward'.

Dr. Lori McCauley USA

'We all get complications, and actually, normalizing that and discussing them is the best way to make sure our patients are safe. And that we also feel supported as clinicians as well. CMAC have pulled in people from all over the world, who really are the authorities on specific areas of concern and complications. The breadth of topics that have been crammed into two days is just extraordinary. You know, we are, Not only hearing about the common things that we all need to learn about, but also very rare and equally as important topics as well. So, I think if you take patient safety seriously, everyone should be attending. Don't think twice, do it'.

Dr Ben Taylor-Davies UK

c. Research, guidance and newsletters: CMAC publishes and shares clinical guidelines, best-practice resources and toolkits, and circulates a regular newsletter highlighting relevant research from the Global Faculty and wider literature. During the period members have received regular newsletters. The members have access to historical newsletter during the period. All members receive a complimentary digital subscription to the PMFA Journal. Where appropriate and subject to Trustee approval, CMAC supports open access publication by contributing towards journal fees. During the period CMAC has contributed journal fees for three important research publications. Two of the three publications are public access resources for the benefit of the public. The details are set out below:

a. Research paper published in the Aesthetic Surgery Journal on Consensus Guidelines for the management of Tissue Filler induced Vision Loss in the United Kingdom DOI: 0.1093/asj/sjag002

b. Research paper published in the Aesthetic Surgery Journal on Body Dysmorphic Disorder in Aesthetic Practitioners: A Cross-Sectional Study of Prevalence, Awareness, and Psychological Implications DOI: 10.1093/asjof/ojaf070

c. Comment article published in Nature (Eye) Tissue Filler Induced Vision Loss DOI: 10.1038/s41433-026-04470-9

Further during the period CMAC has:

1. In May 2025 led a multidisciplinary steering group to develop UK consensus guidelines for the management of tissue filler-induced vision loss, bringing together aesthetic doctors, nurses, ophthalmologists and surgeons. Following on from this, during this period, a public access recourse publication was produced, and it has also been published for NHS ophthalmologists.

2. Established specialist clinical committees (including a Skin of Colour group and cultural considerations in complications and expectations arising from aesthetic medicine) to increase inclusivity and ensure education reflects different patient needs.

3. Continued to build its library of educational resources, introducing external educators and case presentations, and facilitating structured reflective practice for revalidation portfolios.

4. Expanded its educational experience for members by starting to design and develop tools to support reflective learning and CME-accredited learning;

5. Invested in enhanced technological systems via its mobile application development and technological infrastructure to improve consistency of data collection to support future research and publications.

6. Continued exploring ways to facilitate more local and focused events to bring members together to share peer to peer learning, beyond the annual conference where geography and time commitment can present barriers to attending.

7. Collaborated with the British College of Aesthetic Medicine (BCAM) raising awareness of complications and dealing with complications of aesthetic medicine.

8. Provided members with ongoing access to its 24/7 emergency expert clinical helpline for guidance during complications and adverse events. In the period the Clinical Support Team have answered 69 calls and provided clinicians in crisis with guidance and support.

9. Responded to 149 emails to our clinical support team and provided guidance and support within 12 hours for international members.

10. Started to develop a mobile application with embedded translation functionalities to enhance access to resources for the benefit of the wider community, and enabling non-English speaking members to access multilingual support more directly with wider engagement from Faculty and experts.

11. Started to explore how it can establish dedicated international branches in Canada, Italy, France and Tunisia to ensure clinical support remains relevant to local regulatory environments.

12. Invested in making resources available in the languages most commonly used by our members (initially English, French and Spanish), and designing how peer-to-peer discussions can be facilitated in different languages.

13. Represented CMAC at targeted international conferences, where we presented to attendees, and raised awareness of CMAC and complications in aesthetic medicine generally. We also were able to identify and meet new talent for the membership and faculty, and built important relationships.

14. Developed a bursary scheme for faculty members to apply for funding to attend relevant international conferences to give talks, to represent CMAC, raise awareness in respect of the charity and complications in aesthetic medicine generally, and relationship building.

15. Continued to contribute to improved patient outcomes and the advancement of public health within the medical aesthetics sector by continuing to raise clinical standards, providing clinical support to practitioners managing complications, and disseminating evidence based education and guidance.

We consider that the above achievements have benefitted our beneficiaries and wider society as a whole. We have invested significantly in making our research and learning accessible, including by funding open-access publications as set out above, making our webinars available to members and the wider public, promoting the need for effective complication education through numerous channels and developing our mobile application to improve our offering and reach.

FINANCIAL REVIEW

Financial position

The Charity's financial performance was as expected this year: receipts decreased to £159,319 (2024: £260,526) and expenses decreased to £182,365 (2024: £298,207). The deficit was £23,046 (2024 £37,681).

This year the Trustees have strictly followed accounting standards and are not recognising conference income or expenditure until the date of the conference. This stricter observance of accounting standards is reflected in the figures quoted above.

At 30 September 2025 net assets were £33,349 (2024: £56,395), with all the reserves being unrestricted.

Principal funding sources

CMAC is a non-profit organisation independent of commercial influence; operations are primarily funded by membership subscriptions.

Reserves policy

The charity trustees desire to have reserves of £40,000. At 30 September 2025 the reserves were £33,349. The reason for this is mentioned above: applying a better revenue recognition accounting policy has impacted the reserves but the trustees are expecting this will show signs of improvement over the current financial year.

The called-for sum to be held in reserve has been specifically calculated to cover approximately 12 months of the core operational costs set out below, ensuring the Charity remains a going concern even if paid for clinical events are postponed or fail to raise sufficient revenue to cover the costs of those events.

• Core operational costs: These include essential staff costs (£30,833 in 2025), insurance (£4,266), and professional governance fees.

• Variable event costs: Costs such as event hire and conference expenses (£51,287 in 2025) are considered variable. Under our current accounting policy, these are only recognised at the date of the conference. Consequently, these costs are funded by the £381,936 in deferred income currently held on the balance sheet rather than from the General Reserve.

• Deposit limit: To maximise protection under financial compensation schemes, no more than £120,000 will be held in any single bank account.

• Designated savings: The £40,000 core reserve will be held in a dedicated savings account to ensure it is not inadvertently utilised for event-related cash flow.

Going concern

As set out above, there are no concerns about the charity continuing as a going concern, it holds 12 months operating costs in reserve and has significant deferred income funds available.

FUTURE PLANS

In the coming year we will be launching the app to gather better quality data and improve accessibility for French and Spanish speaking members. This has been a busy year so we are intentionally not planning to add new projects next year but rather to consolidate those we began this year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is governed by its Articles of Association

Charity constitution

The charity is a company limited by guarantee with company number 12872782

Recruitment and appointment of new trustees

When a vacancy arises a new trustee is searched for who will have the required skills, experience and expertise needed in order to strengthen the existing Board. All potential trustees have to complete a brief application form and are interviewed by the other Board members.

All Trustees must be a director of the Company, and Directors must also be Members of the Company in accordance with the articles of association.

The current Trustees were appointed as Trustees upon registration of the Charity and act in accordance with the articles of association.

The articles of association, and relevant Company Law, deals with the process for removing a Director, and accordingly that person as a Trustee. The Charity requires a minimum of three Directors. The Board of Directors are permitted to appoint new Directors under the terms of the Articles of Association, and accordingly such persons would become a Trustee.

Induction and training of new trustees

When new trustees are appointed they are inducted at a Board meeting. The training of trustees is limited to in-house training on the processes, values and objectives of the Charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

12872782 (England and Wales)

Registered Charity number

1214738

Registered office

Suite 3b

Kings House

1 King Street

Leeds

LS1 2HH

Trustees

Dr C Convery

Ms E L Davies

Ms G M Murray

Independent Examiner

Mr Simon Young FCA

Aysgarth Chartered Accountants

Suite 3b

Kings House

1 King Street

Leeds

LS1 2HH

Solicitors

Jacqueline Watts - Allin1 Advisory Limited (Head of Commercial Law), London

Advisers

Bookkeeping - Justine Marshall Pinpoint Plus Bookkeeping

Human Resources - Sarita Hale Clover HR Services

Business Development - Ashley McKenna Equals3 Ltd.

Approved by order of the board of trustees on 29 June 2026 and signed on its behalf by:

Ms E L Davies - Trustee

Independent examiner's report to the trustees of CMA Collaborative UK Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts 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 accounts 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 accounts to be reached.

Mr Simon Young FCA

Aysgarth Chartered Accountants

Suite 3b

Kings House

1 King Street

Leeds

LS1 2HH

29 June 2026

30/9/25

30/9/24

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Other trading activities

2

159,055

260,526

Investment income

3

264

-

Total

159,319

260,526

EXPENDITURE ON

Charitable activities

Clinical best practice

182,365

298,207

NET INCOME/(EXPENDITURE)

(23,046

)

(37,681

)

RECONCILIATION OF FUNDS

Total funds brought forward

56,395

94,076

TOTAL FUNDS CARRIED FORWARD

33,349

56,395

30/9/25

30/9/24

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

9

343

514

CURRENT ASSETS

Debtors

10

125,734

9,470

Cash at bank

330,918

92,019

456,652

101,489

CREDITORS

Amounts falling due within one year

11

(423,646

)

(45,608

)

NET CURRENT ASSETS

33,006

55,881

TOTAL ASSETS LESS CURRENT LIABILITIES

33,349

56,395

NET ASSETS

33,349

56,395

FUNDS

12

Unrestricted funds

33,349

56,395

TOTAL FUNDS

33,349

56,395

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 29 June 2026 and were signed on its behalf by:

Ms E L Davies - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis, as there are no material uncertainties about the charity's ability to continue. Based on the adequacy of the charity's reserves as at the balance sheet date, along with their knowledge of the charity's ability to meet bills,payments and other liabilities as they fall due, the trustees have a reasonable expectation that the charity has sufficient resources to continue in operational existence for the foreseeable future.

Income

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

The charity has relied significantly upon volunteers in carrying out its activities during the year. In accordance with paragraph 6.18 of the SORP, the role of volunteers has not been recognised as income from donated services in the accounts.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

All tangible fixed assets are recorded at cost, being purchase price, less accumulated depreciation.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	OTHER TRADING ACTIVITIES

30/9/25

30/9/24

£

£

Membership fees

122,351

251,606

Conference income

12,921

-

Webinar income

22,018

-

Taxation recoverable

1,765

8,920

159,055

260,526

3.	INVESTMENT INCOME

30/9/25

30/9/24

£

£

Deposit account interest

264

-

4.	SUPPORT COSTS

Governance

Finance

costs

Totals

£

£

£

Clinical best practice

15,747

21,744

37,491

The following payments, including VAT, have been accrued or made to the independent examiner Aysgarth Chartered Accountants in respect of their examination £4,000 (2024: £nil). Fees payable to the Independent Examiner, other than for the independent examination,totalled £3,290 (2024 £nil).

5.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

30/9/25

30/9/24

£

£

Depreciation - owned assets

171

171

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2025 nor for the year ended 30 September 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2025 nor for the year ended 30 September 2024.

7.	STAFF COSTS

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

30/9/25

30/9/24

Paid employee

1

1

No employees received emoluments in excess of £60,000.

A lot of the charity's activities are carried out by volunteers. This year there were 20 volunteers (2024:20).

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Other trading activities

260,526

EXPENDITURE ON

Charitable activities

Clinical best practice

298,207

NET INCOME/(EXPENDITURE)

(37,681

)

RECONCILIATION OF FUNDS

Total funds brought forward

94,076

TOTAL FUNDS CARRIED FORWARD

56,395

9.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2024 and 30 September 2025

685

DEPRECIATION

At 1 October 2024

171

Charge for year

171

At 30 September 2025

342

NET BOOK VALUE

At 30 September 2025

343

At 30 September 2024

514

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/25

30/9/24

£

£

Trade debtors

7,437

275

Other debtors

-

8,920

Prepayments and accrued income

118,297

275

125,734

9,470

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/25

30/9/24

£

£

Trade creditors

12,545

-

Social security and other taxes

184

215

Other creditors

28,981

43,893

Accruals and deferred income

381,936

1,500

423,646

45,608

12.	MOVEMENT IN FUNDS

Net

At

movement

At

1/10/24

in funds

30/9/25

£

£

£

Unrestricted funds

General fund

56,395

(23,046

)

33,349

TOTAL FUNDS

56,395

(23,046

)

33,349

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

159,319

(182,365

)

(23,046

)

TOTAL FUNDS

159,319

(182,365

)

(23,046

)

Comparatives for movement in funds

Net

At

movement

At

1/10/23

in funds

30/9/24

£

£

£

Unrestricted funds

General fund

94,076

(37,681

)

56,395

TOTAL FUNDS

94,076

(37,681

)

56,395

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

260,526

(298,207

)

(37,681

)

TOTAL FUNDS

260,526

(298,207

)

(37,681

)

13.	RELATED PARTY DISCLOSURES

At the Balance Sheet date the charity owed Ms E Davies, a trustee, £28,981 (2024: £43,893).