THE BIOCHEMICAL SOCIETY
Latest income
£4.8m
Latest spending
£4.0m
Registered
1967
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that the Group made a net surplus of £1,389,000 for the year, with closing free reserves of £12.5 million. The Trustees consider the ideal reserves range to be between £5 million and £6 million, meaning current reserves are above the stated policy target. The going concern assessment confirms adequate resources to continue operating for the foreseeable future with no material uncertainties.
What the accounts disclose
Reserves policy: £5m and £6m (held: £12.5m)
“The Trustees consider it ideal to maintain a range of free reserves between £5m and £6m in line with the above and to cover one year of anticipated operating expenditure.” — page 27
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Charity has one wholly owned trading subsidiary, which is incorporated in England & Wales as Portland Press Limited. All transactions between the two entities during the year have been concluded under normal market conditions. During the year, Portland Press Limited paid the Society £1.585m (2023: £1.767m), being the amount distributable to the Society under gift aid for the year ended 31 December 2023. At the year end, the Society was owed £984,000 (2023: £1.495m) from Portland Press Limited due from group undertakings.
“The Charity has one wholly owned trading subsidiary, which is incorporated in England & Wales as Portland Press Limited. All transactions between the two entities during the year have been concluded under normal market conditions. During the year, Portland Press Limited paid the Society £1.585m (2023: £1.767m), being the amount distributable to the Society under gift aid for the year ended 31 December 2023. At the year end, the Society was owed £984,000 (2023: £1.495m) from Portland Press Limited due from group undertakings.” — page 48
“The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distributed under Gift Aid to the parent charity. The trustees Richard Reece, Nigel Hooper and Frank Sargent are also directors of the subsidiary.” — page 50
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distributed under Gift Aid to the parent charity. The trustees Richard Reece, Nigel Hooper and Frank Sargent are also directors of the subsidiary.
“The Charity has one wholly owned trading subsidiary, which is incorporated in England & Wales as Portland Press Limited. All transactions between the two entities during the year have been concluded under normal market conditions. During the year, Portland Press Limited paid the Society £1.585m (2023: £1.767m), being the amount distributable to the Society under gift aid for the year ended 31 December 2023. At the year end, the Society was owed £984,000 (2023: £1.495m) from Portland Press Limited due from group undertakings.” — page 48
“The subsidiary is used for non-primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are distributed under Gift Aid to the parent charity. The trustees Richard Reece, Nigel Hooper and Frank Sargent are also directors of the subsidiary.” — page 50
Per its FY2024 accounts as filed with the Charity Commission.
Leadership, per the charity’s website
- Professor Richard Reece — Society President / Chair of Council of Trustees
- Professor Gurdyal Besra — Vice President
- Professor Sonia Rocha — Honorary Treasurer
- Professor Nicholas Morton — Honorary Meetings Secretary
- Professor Nigel Hooper — Chair, Portland Press Limited Board
- Dr Susan Campbell — Local Ambassador Representative Trustee
- Dr Hannah Britt — Early Career Representative Trustee
- Professor David Smith — Chair, Education, Training and Public Engagement Committee
Funders the charity credits
- Portland Press
Structured financials (annual return, FY ending 31/12/2024)
Total income
£4.8m
Total spending
£4.0m
Cost of raising funds
£38k
Reserves (reported)
£11.3m
Employees
43
Register events
- Received assets from another charity (05/09/2022)
Trustees
- Dr Elizabeth Shaw
- Dr Hannah Mary Chisholm-Britt
- Dr Michael James Bonne
- Dr Susan Gerarda Campbell
- Professor David Paul Smith
- Professor Gurdyal Singh Besra
- Professor Nicholas Michael Morton
- Professor Nigel Mark Hooper
- Professor Richard Jonathan Reece
- Professor Sonia Maria Campos Soares da Rocha
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £4.8m | £4.0m |
| 31/12/2023 | £4.7m | £4.8m |
| 31/12/2022 | £4.8m | £4.7m |
| 31/12/2021 | £4.4m | £4.8m |
| 31/12/2020 | £4.9m | £4.3m |
Common questions
Is THE BIOCHEMICAL SOCIETY financially healthy?
The accounts state that the Group made a net surplus of £1,389,000 for the year, with closing free reserves of £12.5 million. The Trustees consider the ideal reserves range to be between £5 million and £6 million, meaning current reserves are above the stated policy target. The going concern assessment confirms adequate resources to continue operating for the foreseeable future with no material uncertainties. Its FY2024 accounts were audited by Sayer Vincent LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE COMPANY OF BIOLOGISTS | 2 | £178k |