Charity Accounts Intelreading the accounts so you don’t have to

INSTITUTE OF BIOMEDICAL SCIENCE

Registered charity 261926 · accounts filings on the Charity Commission register · also known as I B M S, INSTITUTE OF BIOMEDICAL SCIENCES

Get email alerts for this charity

Latest income
£4.0m
Latest spending
£4.8m
Registered
1970
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that the charity holds unrestricted reserves of £16.8 million, which is significantly above its stated policy target of £5.7 million. The group reported a net income surplus of £199,179 for the year, driven by investment gains, despite a lower total income compared to the previous year due to the absence of a biennial Congress event.

What the accounts disclose

Reserves policy: approximately £5.7 million (held: £16.8m)
“Council considers that in order to meet these needs, and to operate effectively and with minimum disruption, the Institute needs free reserves of approximately £5.7 million.”
Per its FY2024 accounts as filed with the Charity Commission.
Payments to trustees: 8 Council members received payments totalling £6,381 for professional examination, accreditation and assessment services.
“During the year 8 members of Council received payments totalling of £6,381 (2023: £4,434 for 6 Council members) for providing professional examination, accreditation and assessment services.” — page 32
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Payments to Council members for professional services
“During the year 8 members of Council received payments totalling of £6,381 (2023: £4,434 for 6 Council members) for providing professional examination, accreditation and assessment services.” — page 32
“Two members of the senior management team were also trustees of the Science Council. During the year the Institute incurred costs of £95,928 (2023: £97,020) from the Science Council.” — page 32
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Costs from Science Council (trustees are members)
“During the year 8 members of Council received payments totalling of £6,381 (2023: £4,434 for 6 Council members) for providing professional examination, accreditation and assessment services.” — page 32
“Two members of the senior management team were also trustees of the Science Council. During the year the Institute incurred costs of £95,928 (2023: £97,020) from the Science Council.” — page 32
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: Institute of Biomedical Science (Professional Services) Limited
“These financial statements consolidate the results of the Institute and its wholly owned subsidiary, Institute of Biomedical Science (Professional Services) Limited” — page 20
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by HaysMac LLP. Discloses 4 of 6 completeness components.

Structured financials (annual return, FY ending 31/12/2024)

Total income
£4.0m
Total spending
£4.8m
Cost of raising funds
£228k
Reserves (reported)
£16.8m
Employees
34

Reported reserves equal ~41.9 months of spending — in the top quarter for charities its size (median 4.8 months; benchmarks).

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Hong Kong · Northern Ireland · Scotland · Throughout England And Wales

Income and spending

Financial year endIncomeSpending
31/12/2024£4.0m£4.8m
31/12/2023£5.9m£5.3m
31/12/2022£5.4m£4.4m
31/12/2021£3.5m£3.2m
31/12/2020£3.3m£2.7m

Common questions

Is INSTITUTE OF BIOMEDICAL SCIENCE financially healthy?

The accounts state that the charity holds unrestricted reserves of £16.8 million, which is significantly above its stated policy target of £5.7 million. The group reported a net income surplus of £199,179 for the year, driven by investment gains, despite a lower total income compared to the previous year due to the absence of a biennial Congress event. Its FY2024 accounts were audited by HaysMac LLP.