The trustees present their report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], 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) (effective 1 January 2019)".
The objective of the Society is to advance the science and practice of technical cardiology and allied subjects by the promotion of improved standards of education and training.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
2021 was again a challenging year for SCST and everyone working within the NHS. The impact of COVID-19 continued to be felt across both SCST and the whole of the NHS. Healthcare professionals had to find new ways of working, and innovative ways of developing professional skills. SCST has continued to provide support not only to its members, but also to the wider profession - facilitating colleagues to connect and share information like never before.
Although the normal activities of SCST have still not returned to normal, we have facilitated alternate ways of achieving our goals. All members of Council are unpaid volunteers and have been subject to huge pressures in terms of diagnostic recovery targets. It is testament to their dedication that they have continued to contribute towards the work of the Society despite clinical pressures. Members of Council have met virtually nearly every month in order to carry out the work of SCST, including the planning of future work streams. SCST has continued to develop its strong links with other bodies by attending meetings with the National School for Healthcare Science (NSHCS) and Academy of Healthcare Science (AHCS), as well as the BCS Cardiac Physiology Group. We continue to work with specialist interest groups such as British Society of Echocardiography (BSE), British Heart Rhythm Society (BHRS) and British Heart Valve Society (BHVS).
The Education Committee has worked hard to develop and pilot a Cath Lab accreditation programme together with an educational resource to support it. This is planned for launch in Summer 2022 and will provide support to those cardiac scientists who work predominantly within the cath lab environment. The examinations continue to be successfully hosted by Pearson Vue with very positive feedback from all those involved. The ECG interpretation courses continue to be popular and well attended. The number of lecturers has been expanded to ensure the sustainability of the courses going forward.
The new website continues to develop, with further resources planned for 2022. SCST is still somewhat reliant on social media in order to get messages out quickly and easily, but will start to move away from this over the next year. SCST’s Facebook page in particular has been extremely successful in connecting people working in cardiac science, and in increasing awareness of what we do as a professional body. It is now starting to direct people from Facebook towards the SCST website with the aim of promoting discussion and interaction through the medium of the website.
The 2021 National Update meeting was again hosted on a virtual platform, resulting in the highest attendance. The meeting saw delegates gain insight into ‘hot topics’ by a host of high profile colleagues. The annual SCST Excellence Awards were presented to cardiac scientists who were selected for their contributions to patient safety, innovation and service development.
We continued to be supported by EBS in terms of day-to-day administration, and by BCS in terms membership administration, for which we are grateful. Going forward we encourage all members to seek ways in which they can play an active role within their professional body. No matter how small the contribution, every single one of us is important and is what keeps the Society alive and vibrant and relevant for its members. Together we will continue to be the voice of cardiac science and make a real difference.
This has been an interesting year, during which the fortunes of SCST have improved. This is due largely to the move toward 'virtual' meetings, examinations (held at PearsonVue test centres) and courses. The Foundation and Diploma courses performed particularly well. EBS expense was reduced considerably, being replaced by Pearson's own examination costs.
The bad debt provision includes invoices raised between 2018 and 2020. The Trustees view them as being largely unrecoverable and we intend to write off the full amount against the provision in 2022. The actions taken to eliminate this risk by moving to 'payment with order' and on-line booking via Eventbrite has proved extremely successful. Administration has been streamlined with much reduced invoicing and credit control.
Candidates in 2020 were given 'vouchers' in lieu of cancelled examinations (Covid) to set against future rebooked places. This amounted to a liability of £16,710 in last year's balance sheet. PearsonVue recorded the number of vouchers presented for its two rounds of exams in March and October 2021 and this resulted in £6,310 of 'unused' vouchers as this year's outstanding liability. Vouchers must be used by July 2023.
The Scottish and Northern Irish Branches both confirmed no transactions in 2021. The NI branch account just shows a reduction of £16 in bank charges. Thanks are given to the Honorary Treasurers of the SCST branches of Northern Ireland and Scotland for maintaining their respective accounting systems and providing timely financial information.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between 12 and 18 months’ normal expenditure. The trustees consider that the expenditure during 2021 has not been ‘normal.’
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Education Committee Report
The committee comprises a strong membership from across different spheres of cardiac science, which has proved to be a real strength over the last 12 months. SCST has hosted three examination events online. The amount of work involved setting this up in a sustainable and assured way cannot be underestimated, and it is testament to the dedication of the committee members that SCST continues to hold these in collaboration with a third party. Going forward, there will be two examination events each year usually held in March and October.
The courses which were previously held face to face, have now moved successfully to a virtual platform. This seems to be the preferred platform from the feedback we have been given from candidates, but it remains to be seen whether we can deliver some face-to-face courses in the future.
The SCST preceptorship programme continues to go from strength to strength and will be especially valuable to those students whose training has been disrupted over the pandemic.
The work on the Invasive Cardiac Physiology course continues Course content has been finalised with a view to delivering a pilot course virtually in late September and holding an exam in October. The exam will also include a portfolio of evidence to be submitted for marking. We are awaiting feedback from the pilot course and exams to clarify how regularly the course and exam should be delivered going forward.
As ever, huge thanks are given to the members of the education committee who give up so much of their time in order to undertake this valuable work of the Society.
Plans for future periods
SCST continues to strive to improve patient care by improving training and quality assurance resources. Courses are now able to be held on a virtual platform which has increased accessibility. Examinations are now held at Pearson Vue centres which means more local access for colleagues.
The Cath Lab course and associated examination will expand the portfolio of resource available. Plans are to increase the number of places available on courses, and provide subsidised places for SCST members. Exams will be expanding in order to make them accessible worldwide.
Plans to further support members who would like to attain equivalence from the AHCS will hopefully lead to an increase in the number of people gaining recognition as a Clinical Scientists in Cardiology.
SCST continues to be the voice of all those working within the field of cardiac science in order to gain professional recognition at a national level. The society can only do this with the support of its members and therefore urges them to actively contribute to the work of the Society whenever they are able.
The charity is a company limited by guarantee and registered as a charity under the Charities Act 2011. The charitable company is governed by its Memorandum and Articles of Association. The charity was incorporated as a company on 30 November 1965 and registered by the Charities Commission on 4 September 1980.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
N one of the trustees has any beneficial interest in the company. All of the trustees are members of the company.
As at the point of signing the accounts, there is a worldwide pandemic of Covid-19. This outbreak is causing restrictions on the population in the UK, which is having an impact in the financial activity of the whole economy. The effects on the UK economy and The Society for Cardiological Science and Technology Ltd cannot be quantified with any accuracy at this point in time but the trustees will continue to manage the charity through this position.
The trustees' r eport was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of The Society for Cardiological Science and Technology (the charity) for the year ended 31 December 2021.
As the trustees of the charity (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 charity 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 charity’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.
We draw your attention to note 1.2 of the financial statements which discloses the charity's ability to continue as a going concern, given the risks and uncertainties of Covid-19.
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:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
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
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).
Voluntary income
Other income
Material ot her expenditure
Depreciation
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Director's responsibilities:
The trustees have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The Society for Cardiological Science and Technology is a private company limited by guarantee incorporated in England and Wales. The registered office is Claremont House, 1 Market Square, Bicester, Oxon, OX26 6AA.
The financial statements have been prepared in accordance with the charity's [governing document], 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity 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 charity . Monetary a mounts in these financial statements are rounded to the nearest £.
At the time of approving the accounts, the trustees have a reasonable expectation that the charity 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 accounts.
A key risk to the future continued going concern of the charity are the risks and uncertainties as to the impact of the Covid-19 outbreak in the UK. As at the date of approving these accounts the trustees have assessed the impact of Covid-19 and are satisfied that these accounts continue to be prepared on a going concern basis.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Income is recognised when the charity 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.
Expenses are included in the financial statements as they are incurred. Expenses include VAT where applicable as the charity cannot reclaim it.
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:
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 net income/(expenditure) for the year.
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
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.
Branches
Where the branches of the society also hold funds, the accounting transactions of those branches are included in the accounts.
Taxation status
The company is a Charity within the provision of the Income and Corporation Taxes Act 1988 and hence no Corporation Tax is payable.
In the application of the charity’s accounting policies, the director 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.
Voluntary income
Advertising and badge sales
Subscriptions, ECG manual sales, meetings, examination and course fees
Other income
Badge and ECG manual sales
Examination expenses
Council meeting expenses
Telephone
Clerical assistance
Sundry expenses
Printing and stationery
Postage
Accountancy
HoD meeting expenses
Professional fees
Charitable activities includes £3,420 (2020 £2,700) of accountancy costs for independent examination fees.
None of the trustees (or any persons connected with them) received any remuneration during the year. One trustee was reimbursed a total of £1,331 for disbursements incurred on behalf of the charity (2020- four trustees were reimbursed a total of £4,745).
The average monthly number of employees during the year was:
Material ot her expenditure
Material other expenditure includes rent and bank charges
Depreciation
The deferred income balance as at the year end represents income received in advance for events such as courses and examinations which have not taken place in the current period.
There were no disclosable related party transactions during the year (2020 - none) .