The Pharmaceutical Journal
Vol 272 No 7295 p483
17 April 2004

Society summary

Society's 2003 accounts show healthy position despite deficit

The Royal Pharmaceutical Society’s accounts for 2003 — now available from the Society’s website — show a healthy financial position despite an operating loss for the year.

In an article in this week’s Journal (p484, PDF (45K)), the Society’s financial controller, Graham Duncan, explains that changes in accounting policy and improvements in systems and procedures have helped put the Society’s finances on a “robust and sustainable” basis.

Commenting on the accounts for 2003, the Society’s Treasurer, Linda Stone, said: “I am pleased that the changes made to the accounting procedures for 2003 have resulted in greater clarity and probity for our accounts. We have secured the balance sheet and by continually reviewing our tax position we have maximised our savings. I am confident that the base we have created this year is a firm foundation for our financial future.”

The Society’s full financial statements for 2003 were expected to be to be made available on the Society’s website at some time on Friday 16 April. Hard copies can be obtained from the Society’s finance administrator (tel 020 7572 2245).

A summary of financial information will also appear in the Society’s annual review for 2003, which is to be distributed to all members of the Society with The Pharmaceutical Journal of May 1.

The annual review highlights the broad range of work undertaken by the Society in 2003.

Questions on the financial statements will be answered at the Society’s annual general meeting, to be held at the Society’s Lambeth headquarters on Wednesday 12 May at 7.30pm (see Official Notice, p491). The Society is inviting questions about the financial statements in advance of the AGM in order to allow full responses to be researched and provided at the meeting.

Questions should be submitted in writing by post to Graham Duncan, Financial Controller, Royal Pharmaceutical Society, 1 Lambeth High Street, London SE1 7JN or by e-mail to accounts2003@rpsgb.org to arrive no later than 4pm on Wednesday 5 May.