Download a PDF of the British Pharmacological Society’s financial statements for the year ended 31 December 2023. The financial statements include the Financial Review, Statement of Financial Activities and Balance Sheet, together with the Notes to the Accounts. They show the overall financial performance of the Society and provide an analysis of the incoming resources and how they were applied in the performance of the Society’s objectives.
Total Funds
The financial performance reported is of the “Group”, which means the Society together with its two trading subsidiaries, BPS Assessment Limited and BPS Trading Services Limited.
The total funds of the Group decreased by £85,521 and the resulting balance of total funds at 31 December 2023 amounted to £5,707,276.
Income
Income for the year totalled £5,346,500 which is a increase of 24.7% over 2022.
Charitable activity income from
journal publishing, which is the Society's main income source, decreased by 6.4% to £3,203,872.
Member numbers decreased by 4.2% to 4,270 and membership subscription income decreased by 5.9% to £110,306. The decrease in numbers is primarily attributable to a decrease in the number of Early Career Members not continuing after Undergraduate membership, for which there is no charge.
Scientific meetings income increased by £1,264,846 to £1,387,866 due to WCP2023.
Income from educational activities came to £530,030 which is an increase of £231,219.
Investment income was £19,909 higher at £106,604 due to more favourable market conditions.
Expenditure
Expenditure on charitable activities totalled £5,590,386 which is a 22.3% increase of £1,019,894 mostly attributable to WCP20233.
Journal publishing costs increased by £53,954 to £1,499,729 reflecting increased Society staffing and publication support costs.
Educational activities at £1,714,454 was a 2.5% decrease of £43,910 over the previous year.
Projects and awards at £196,664 was a 2.6% decrease of £5,186 over the previous year.
Scientific meetings at £2,028,008 was a 118.2% increase due to WCP.
Capital expenditure totalled £11,834 of which £51K was for further enhancements to the new contact relationship management (CRM) system which went live on 30 September 2022.
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