``` REGISTERED CHARITY NUMBER: 1007105 ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund Report of the Trustees and ``` ``` Audited Financial Statements ``` ``` for the Year Ended 31 December 2022 ``` ``` Knights Lowe Limited Eldo House Kempson Way Suffolk Business Park Bury St Edmunds Suffolk IP32 7AR ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Contents of the Financial Statements for the Year Ended 31 December 2022`** ||**`Page`**| |---|---| |**`Reference and Administrative Details`**|`1`| |**`Report of the Trustees`**|`2 to 3`| |**`Report of the Independent Auditors`**|`4 to 7`| |**`Statement of Financial Activities`**|`8`| |**`Balance Sheet`**|`9`| |**`Notes to the Financial Statements`**|`10 to 17`| |**`Detailed Statement of Financial Activities`**|`18`| ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Reference and Administrative Details for the Year Ended 31 December 2022`** |**`TRUSTEES`**|`Gary Caughey`| |---|---| ||`Barbara Stuchfield`| ||`Pat Langstone`| ||`Anne Gee`| ||`Janice Parke`| |**`PRINCIPAL ADDRESS`**|`The Royal London Hospital`| ||`Whitechapel Road`| ||`London`| ||`London`| ||`E1 1FR`| |**`REGISTERED CHARITY NUMBER`**|`1007105`| |**`INDEPENDENT AUDITORS`**|`Knights Lowe Limited`| ||`Eldo House`| ||`Kempson Way`| ||`Suffolk Business Park`| ||`Bury St Edmunds`| ||`Suffolk`| ||`IP32 7AR`| |**`INVESTMENT MANAGERS`**|`Coutts & Co`| ||`440 Strand`| ||`London`| ||`WC2R 0QS`| ``` Page 1 ``` ## **`The Clare Mann Bursary Fund Clare Mann Bursary Fund`** ## **`Report of the Trustees for the Year Ended 31 December 2022`** ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2022. ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` TheCharitywasestablishedtoprovideassistancetoanymemberof theLeagueandcurrentmembersof the nursing staff with grants for educationalpurposes,or for assistancewith expenses incurredwhile gainingexperienceuseful for work. ``` ## **`Public benefit`** ``` The Trusteeshave given considerationto the questionof the Charity'sstatus,with specialregardto the benefitof the communitybeyondits own membership.They have referredto the guidelineson the CharityCommissionwebsite and are satisfied that both its activities and its use of funds fully justify its charitable status. ``` ``` TheyhavealsogivenregardtotheCharityCommissionGuidelinesonpublicbenefitinformingtheobjectives and activities of the charity. ``` ## **`Grantmaking`** ``` The grants and outgoings are provided from the income generated from the monies held in the Clare Mann Fund. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ## **`Charitable activities`** ``` Allourcharitableactivitiesfocusonassessingtheapplicationsofeligiblenursestoundertakestudy,exchange or travel that will enhance the care of patients. ``` ``` TheClareMannBursaryFundcontainsfundsdonatedbyfamilyandcolleaguesinmemoryofstaff.Thefundhas an agreementsthatthebursariesbegiventoanurseornursesinrelationfortraining,inrelationtotheir chosen specialism. ``` ``` Decisionstoawardbursariesareundertakenbythecommitteeasapplicationsarereceived,aminimumof three members of the committee are required to be involved. ``` ## **`Fundraising activities`** ``` The Royal London Hospital Clare Mann Bursary Fund does not carry out any fundraising activities. ``` ## **`FINANCIAL REVIEW`** ## **`Financial position`** ``` Reserves rose from £137,812 at 31 December 2021 to £163,519 at 31 December 2022. ``` ## **`Principal funding sources`** ``` Funding is principally from income generated by the investment portfolio. ``` ## **`Reserves policy`** ``` ThegrantsandoutgoingsareprovidedfromtheincomegeneratedfromthemoniesheldintheClareMann Bursary Fund and associated funds. ``` ``` The Trusteesrequirethat the capitalof the fundand all legaciesare investedand the interestused for the purpose of the charity. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ``` ``` Page 2 ``` ## **`The Clare Mann Bursary Fund Clare Mann Bursary Fund`** ## **`Report of the Trustees for the Year Ended 31 December 2022`** ``` The name of the charity is The Clare Mann Bursary Fund. ``` ``` The charity was established by Trust Deed dated 18 December 1990. ``` ## **`Recruitment and appointment of new trustees`** ``` The President and the Honorary Treasurer automatically stand as Trustees of the Clare Mann Bursary Fund. ``` ``` Theyare appointedforthreeyears,butmay standforre-electionby the ExecutiveCommittee.Threeother members of the Executive Committee are elected to be Trustees and, again, they stand for three years but may be re-elected. ``` ## **`Organisational structure`** ``` The Clare Mann BursaryFund is managedby Trustees who are responsiblefor the entire administration, management and day to day control of the Charity. ``` ## **`Risk management`** ``` Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate controls are in place to provide reasonable assurance against fraud and error. ``` ``` Thetrusteesreviewthemajoroperationalriskswhichthecharityfacesandensurethatsystemsareinplace to mitigate those risks. ``` ``` The trustees consultat any time considerednecessarywith the fund manager of the charityfor the specific purpose of assessing financial performance. ``` ## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`** ``` The trusteesare responsiblefor preparingthe Reportof the Trusteesand the financialstatementsin accordance with applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccounting Practice) includingFinancialReportingStandard102"TheFinancialReportingStandardapplicableintheUKandRepublic of Ireland". ``` ``` ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accountsand Reports) Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsfor each financialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and applicationofresources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparing those financial statements, the trustees are required to ``` - `select suitable accounting policies and then apply them consistently;` - `observe the methods and principles in the Charity SORP;` - `make judgements and estimates that are reasonable and prudent;` - `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.` ``` Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any time the financialpositionof the charityandto enablethem to ensurethatthe financialstatementscomplywith the CharitiesAct 2011, the Charity(Accountsand Reports)Regulations2008 and the provisionsof the trust deed. They are alsoresponsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsforthe prevention and detection of fraud and other irregularities. ``` ``` Approved by order of the board of trustees on 9 June 2023 and signed on its behalf by: ``` ``` Trustee ``` ``` Page 3 ``` ## **`Report of the Independent Auditors to the Trustees of The Clare Mann Bursary Fund`** ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofTheClareMannBursaryFund(the'charity')fortheyear ended 31 December2022whichcomprisethe Statementof FinancialActivities,the BalanceSheetandnotesto the financial statements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthathas been appliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally AcceptedAccountingPractice),includingFinancialReportingStandard102'TheFinancialReporting Standard applicable in the UK and Republic of Ireland'. ``` ## `In our opinion the financial statements:` - `give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of its incoming resources and application of resources, for the year then ended;` - `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and` - `have been prepared in accordance with the requirements of the Charities Act 2011.` ## **`Basis for opinion`** ``` WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicable law. OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditof the financialstatementssectionofourreport.Weareindependentofthecharityinaccordancewiththe ethical requirementsthat are relevantto our auditof the financialstatementsin the UK, includingthe FRC's Ethical Standard, andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethat the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` In auditingthe financialstatements,we have concludedthat the trustees' use of the going concernbasis of accounting in the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoevents or conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueasa going concern for a period of at least twelve months from when the financial statements are authorised for issue. ``` ``` Our responsibilitiesand the responsibilitiesof the trusteeswith respect to goingconcernare describedin the relevant sections of this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. ``` ``` Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesriseto a materialmisstatementin the financialstatementsthemselves.If, based on the work we have performed,we conclude thatthereis a materialmisstatementof thisotherinformation,we are requiredto reportthatfact.We have nothing to report in this regard. ``` ## **`Matters on which we are required to report by exception`** ``` We have nothingto reportin respect of the followingmatters where the Charities(Accountsand Reports) Regulations 2008 requires us to report to you if, in our opinion: ``` - `the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or` - `sufficient accounting records have not been kept; or` - `the financial statements are not in agreement with the accounting records and returns; or` - `we have not received all the information and explanations we require for our audit.` ``` Page 4 ``` ## **`Report of the Independent Auditors to the Trustees of The Clare Mann Bursary Fund`** ## **`Responsibilities of trustees`** ``` As explainedmore fully in the Statementof Trustees'Responsibilities,the trusteesare responsiblefor the preparation ofthefinancialstatementswhichgivea trueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is necessaryto enablethe preparationof financialstatementsthat are free from materialmisstatement,whetherdue to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueas a goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic alternative but to do so. ``` ``` Page 5 ``` ``` Report of the Independent Auditors to the Trustees of The Clare Mann Bursary Fund ``` ## **`Our responsibilities for the audit of the financial statements`** ``` WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportinaccordancewith the Act and relevant regulations made or having effect thereunder. ``` ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from materialmisstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat includes ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to influence the economic decisions of users taken on the basis of these financial statements. ``` ``` The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ``` ``` Ourapproachtoidentifyingandassessingtherisksofmaterialmisstatementinrespectofirregularities, including fraud and non-compliance with laws and regulations, was as follows: ``` ``` - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the charity through discussions with the trustees and other management, and from our knowledge and experience of the charity's operating sector; ``` ``` - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation; ``` ``` -weassessedtheextentofcompliancewiththelawsandregulationsidentifiedabovethroughmakingenquiries of management and inspecting legal correspondence; and ``` ``` - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. ``` ``` Weassessedthesusceptibilityofthecharity'sfinancialstatementstomaterialmisstatement,includingobtaining an understanding of how fraud might occur, by: ``` ``` - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; or; ``` ``` - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; ``` ``` To address the risk of fraud through management bias and override of controls, we: ``` - `performed analytical procedures to identify any unusual or unexpected relationships;` - `tested journal entries to identify unusual transactions;` - `assessed whether judgements and assumptions made in determining the accounting estimates were indicative of` - `potential bias;` - `investigated the rationale behind significant or unusual transactions;` ``` In responseto the risk of irregularitiesandnon-compliancewithlaws andregulations,we designedprocedures which included, but were not limited to: ``` - `agreeing financial statement disclosures to underlying supporting documentation;` - `reading the minutes of meetings of those charged with governance;` - `enquiring of management as to actual and potential litigation and claims;` - `reviewing any correspondence with HMRC, relevant regulators including the Charity Commission and the charity's legal advisors;` ``` There are inherentlimitationsin ourauditproceduresdescribedabove.The more removedthatlaws and regulations arefromfinancialtransactions,thelesslikelyitisthatwewouldbecomeawareofnon-compliance. Auditing standardsalsolimitthe auditproceduresrequiredto identifynon-compliancewithlaws andregulationsto enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. ``` ``` Page 6 ``` ``` Report of the Independent Auditors to the Trustees of The Clare Mann Bursary Fund ``` ``` Materialmisstatementsthatariseduetofraudcanbehardertodetectthanthosethatarisefromerrorasthey may involve deliberate concealment or collusion. ``` ``` Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of the Independent Auditors. ``` ## **`Use of our report`** ``` This reportis made solely to the charity'strustees,as a body,in accordancewith Part 4 of the Charities(Accounts and Reports)Regulations2008. Our auditwork has been undertakenso that we might state to the charity'strustees those matterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothefullest extent permittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthe charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ``` ``` Knights Lowe Limited Eldo House Kempson Way Suffolk Business Park Bury St Edmunds Suffolk IP32 7AR ``` ``` Date: ............................................. ``` ``` Page 7 ``` ## **`The Clare Mann Bursary Fund Clare Mann Bursary Fund`** ## **`Statement of Financial Activities for the Year Ended 31 December 2022`** |`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
**`49,740`**
`Investment income`
`4`
**`1,914`**
**`Total`**
**`51,654`**
**`EXPENDITURE ON`**
**`Raising funds`**
`Investment management costs`
`5`
**`724`**
**`724`**
**`Charitable activities`**
`6`
`Providing financial assistance to eligible nurses`
**`8,094`**
**`Total`**
**`8,818`**
`Net gains/(losses) on investments`
**`(17,129)`**
**`NET INCOME`**
**`25,707`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`137,812`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`163,519`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`2022`**
**`Total`**
**`funds`**
**`£`**
**`49,740`**
**`1,914`**
**`51,654`**
**`724`**
**`724`**
**`8,094`**
**`8,818`**
**`(17,129)`**
**`25,707`**
**`137,812`**
**`163,519`**|`2021`
`Total`
`funds`
`£`
`20,870`
`1,928`| |---|---|---|---| ||||`22,798`| ||||`747`| ||||`747`
`5,999`| ||||`6,746`| ||||`8,225`| ||||`24,277`
`113,535`| ||||`137,812`| ``` The notes form part of these financial statements ``` ``` Page 8 ``` ## **`The Clare Mann Bursary Fund Clare Mann Bursary Fund`** ## **`Balance Sheet 31 December 2022`** |`Unrestricted`
`fund`
`Notes`
`£`
**`FIXED ASSETS`**
`Investments`
`12`
**`117,676`**
**`CURRENT ASSETS`**
`Cash at bank`
**`45,843`**
**`CREDITORS`**
`Amounts falling due within one year`
`13`
**`-`**
**`NET CURRENT ASSETS`**
**`45,843`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`163,519`**
**`NET ASSETS`**
**`163,519`**
**`FUNDS`**
`14`
`Unrestricted funds`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`2022`**
**`Total`**
**`funds`**
**`£`**
**`117,676`**
**`45,843`**
**`-`**
**`45,843`**
**`163,519`**
**`163,519`**
**`163,519`**
**`163,519`**|`2021`
`Total`
`funds`
`£`
`138,041`
`3,336`
`(3,565)`
`(229)`
`137,812`
`137,812`
`137,812`
`137,812`| |---|---|---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9 June2023and were signed on its behalf by: ``` ``` Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 9 ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Notes to the Financial Statements for the Year Ended 31 December 2022`** ## **`1. GENERAL INFORMATION`** ``` These financial statements cover the individual charity; The Clare Mann Bursary Fund only. ``` ``` All transactions are reported in £ Sterling, rounded to whole pounds only. ``` ``` The financial statements comply with the provisions of SORP 2019. ``` ``` The charity constitutes a public benefit entity as defined by FRS 102. ``` ``` Thefinancialstatementshavebeenpreparedtogivea'trueandfair'viewandhavedepartedfrom the Charities(Accountsand Reports)Regulations2008 only to the extent requiredto providea 'true and fair view'. This departurehas involvedfollowingthe AccountingandReportingby Charities:Statementof Recommended PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicablein the UK andRepublicof Irelandissuedin October2019ratherthanthe Accountingand Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn ``` ## **`2. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the CharitiesAct 2011. The financialstatementshave been preparedunder the historicalcost convention,with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ``` ## **`Financial reporting standard 102 - reduced disclosure exemptions`** ``` Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthese financial statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUKandRepublic of Ireland': ``` - `the requirements of Section 7 Statement of Cash Flows;` - `the requirement of paragraph 3.17(d);` - `the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);` - `the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;` - `the requirement of paragraph 33.7;` - • `the requirement of paragraph 24(b) of IFRS 6.` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesonceallofthefollowingcriteriahave been met: ``` - `The charity has entitlement to the funds` - `Any performance conditions attached to the items of income have been met or are fully within the` - `control of the charity` - `There is sufficient certainty that receipt of the income is considered probable` - `The amount can be measured reliably` ``` continued... ``` ``` Page 10 ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 December 2022`** ## **`2. ACCOUNTING POLICIES - continued`** ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the use of resources. ``` ``` Grants offered subject to conditionswhich have not been met at the year end date are noted as a commitment but not accrued as expenditure. ``` ## **`Cash at bank and in hand`** ``` Cashatbankandinhandincludescashandshorttermhighlyliquidinvestmentswithashortmaturity from the date of acquisition or opening of the deposit or similar account. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ## **`Investment assets`** ``` Investmentsareinitiallyrecognisedattheirtransactionvalueandsubsequentlymeasuredattheir market valueattheBalanceSheetdateusingtheclosingquotedmarketprice.TheStatementofFinancial Activities includes net gains or losses on revaluations and disposals throughout the year. ``` ## **`3. DONATIONS AND LEGACIES`** |`Donations`
`Grants`
`Grants received, included in the above, are as follows:`
`Royal London League of Nurses General Fund`
`Royal London League of Nurses Benevolent Fund`|**`2022`**
**`£`**
**`42,725`**
**`7,015`**
**`49,740`**
**`2022`**
**`£`**
**`3,565`**
**`3,450`**
**`7,015`**|`2021`
`£`
`19`
`20,851`| |---|---|---| |||`20,870`| |||`2021`
`£`
`-`
`20,851`| |||`20,851`| ``` continued... ``` ``` Page 11 ``` ## **`The Clare Mann Bursary Fund Clare Mann Bursary Fund`** ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 December 2022`** ## **`4. INVESTMENT INCOME`** |**`4.`**|**`INVESTMENT INCOME`**|||| |---|---|---|---|---| ||||**`2022`**|`2021`| ||||**`£`**|`£`| ||`Income from fixed asset investments`||**`1,893`**|`1,928`| ||`Deposit account interest`||**`21`**|`-`| ||||**`1,914`**|`1,928`| |**`5.`**|**`INVESTMENT MANAGEMENT COSTS`**|||| ||||**`2022`**|`2021`| ||||**`£`**|`£`| ||`Portfolio management`||**`724`**|`747`| |**`6.`**|**`CHARITABLE ACTIVITIES COSTS`**|||| |||`Grant`||| |||`funding of`||| |||`activities`||| |||`(see note`|`Support`|| |||`7)`|`costs`|`Totals`| |||`£`|`£`|`£`| ||`Providing financial assistance to eligible`|||| ||`nurses`|**`7,729`**|**`365`**|**`8,094`**| |**`7.`**|**`GRANTS PAYABLE`**|||| ||||**`2022`**|`2021`| ||||**`£`**|`£`| ||`Providing financial assistance to eligible nurses`||**`7,729`**|`5,134`| |**`8.`**|**`AUDITORS' REMUNERATION`**|||| ||||**`2022`**|`2021`| ||||**`£`**|`£`| ||`Fees payable to the charity's auditors for the audit of the charity's financial`|||| ||`statements`||**`-`**|`500`| |**`9.`**|**`TRUSTEES' REMUNERATION AND BENEFITS`**|||| ``` There were no trustees'remunerationor other benefitsfor the year ended 31 December 2022 nor for the year ended 31 December 2021. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31December2022norfortheyear ended 31 December 2021. ``` ## **`Executive committee transactions`** ``` Nomembersoftheexecutivecommitteewerereimbursedanycoststhisyear.2021:Nomembersof the executive committee were reimbursed any costs ``` ``` continued... ``` ``` Page 12 ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 December 2022`** ## **`9. TRUSTEES' REMUNERATION AND BENEFITS - continued`** ## **`Executive committee transactions - continued`** ``` No members of the executive committee were providedwith grant fundingthis year. 2021: No members of the executive committee were provided with grant funding. ``` ## **`10. STAFF COSTS`** ``` The charity employed no staff in this or the prior year. ``` ## **`11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`20,870`
`Investment income`
`1,928`
**`Total`**
`22,798`
**`EXPENDITURE ON`**
**`Raising funds`**
`Investment management costs`
`747`
`747`
**`Charitable activities`**
`Providing financial assistance to eligible`
`nurses`
`5,999`
**`Total`**
`6,746`
`Net gains on investments`
`8,225`
**`NET INCOME`**
`24,277`
**`Transfers between funds`**
`32,166`
**`Net movement in funds`**
`56,443`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`81,369`
**`TOTAL FUNDS CARRIED FORWARD`**
`137,812`|`Restricted`
`funds`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`(32,166)`
`(32,166)`
`32,166`
`-`|`Total`
`funds`
`£`
`20,870`
`1,928`| |---|---|---| |||`22,798`| |||`747`| |||`747`
`5,999`| |||`6,746`| |||`8,225`| |||`24,277`
`-`| |||`24,277`
`113,535`| |||`137,812`| ``` continued... ``` ``` Page 13 ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 December 2022`** ## **`12. FIXED ASSET INVESTMENTS`** |`Shares`
`Other`
`Additional information as follows:`
**`MARKET VALUE`**
`At 1 January 2022`
`Additions`
`Disposals`
`Revaluations`
`At 31 December 2022`
**`NET BOOK VALUE`**
`At 31 December 2022`
`At 31 December 2021`
`There were no investment assets outside the UK.`|**`2022`**
`2021`
**`£`**
`£`
**`114,272`**
`134,229`
**`3,404`**
`3,812`
**`117,676`**
`138,041`
`Listed`
`investments`
`£`
**`134,229`**
**`89,268`**
**`(92,096)`**
**`(17,129)`**
**`114,272`**
**`114,272`**
`134,229`| |---|---| ``` Fixed asset investments are valued on an open market basis by Coutts & Co. at the year end. ``` ``` Investments (neither listed nor unlisted) were as follows: ``` ||**`2022`**|`2021`| |---|---|---| ||**`£`**|`£`| |`Cash held for reinvestment`|**`3,404`**|`3,812`| ``` continued... ``` ``` Page 14 ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 December 2022`** ## **`13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Other creditors`
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are a`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`The Chris Moran Scholarship Fund`
`The Jill Garrard Memorial Fund`
`The Ida Latham Fund`
**`TOTAL FUNDS`**|`s follows:`
`Incoming`
`resources`
`£`
**`51,654`**
**`51,654`**
`At 1.1.21`
`£`
`81,369`
`25,903`
`3,900`
`2,363`
`32,166`
`113,535`|`At 1.1.22`
`£`
**`137,812`**
**`137,812`**
`Resources`
`expended`
`£`
**`(8,818)`**
**`(8,818)`**
`Net`
`movement`
`in funds`
`£`
`24,277`
`-`
`-`
`-`
`-`
`24,277`|**`2022`**
`2021`
**`£`**
`£`
**`-`**
`3,565`
`Net`
`movement`
`At`
`in funds`
`31.12.22`
`£`
`£`
**`25,707`**
**`163,519`**
**`25,707`**
**`163,519`**
`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
**`(17,129)`**
**`25,707`**
**`(17,129)`**
**`25,707`**
`Transfers`
`between`
`At`
`funds`
`31.12.21`
`£`
`£`
`32,166`
`137,812`
`(25,903)`
`-`
`(3,900)`
`-`
`(2,363)`
`-`
`(32,166)`
`-`
`-`
`137,812`| |---|---|---|---| ## **`14. MOVEMENT IN FUNDS`** ``` continued... ``` ``` Page 15 ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2022`** ## **`14. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` ||`Incoming`|`Resources`|`Gains and`|`Movement`| |---|---|---|---|---| ||`resources`|`expended`|`losses`|`in funds`| ||`£`|`£`|`£`|`£`| |**`Unrestricted funds`**||||| |`General fund`|`22,798`|`(6,746)`|`8,225`|`24,277`| |**`TOTAL FUNDS`**|`22,798`|`(6,746)`|`8,225`|`24,277`| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`The Chris Moran Scholarship Fund`
`The Jill Garrard Memorial Fund`
`The Ida Latham Fund`
**`TOTAL FUNDS`**|`At 1.1.21`
`£`
`81,369`
`25,903`
`3,900`
`2,363`
`32,166`
`113,535`|`Net`
`movement`
`in funds`
`£`
`49,984`
`-`
`-`
`-`
`-`
`49,984`|`Transfers`
`between`
`funds`
`£`
`32,166`
`(25,903)`
`(3,900)`
`(2,363)`
`(32,166)`
`-`|`At`
`31.12.22`
`£`
`163,519`
`-`
`-`
`-`| |---|---|---|---|---| |||||`-`| |||||`163,519`| ``` A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` ||`Incoming`|`Resources`|`Gains and`|`Movement`| |---|---|---|---|---| ||`resources`|`expended`|`losses`|`in funds`| ||`£`|`£`|`£`|`£`| |**`Unrestricted funds`**||||| |`General fund`|`74,452`|`(15,564)`|`(8,904)`|`49,984`| |**`TOTAL FUNDS`**|`74,452`|`(15,564)`|`(8,904)`|`49,984`| ``` In a meetingon8 May2021theTrusteesvotedto move allrestrictedfundsintotheunrestrictedfund.This is becausetherestrictedfundsaresmallinsizeandineffecthavebeenusedupforthepurposesthey were restrictedfor. This will aid the operationof the charitymoving forwardand the charitywill still support funding for the training which these restricted funds were dedicated for. ``` ``` continued... ``` ``` Page 16 ``` ``` The Clare Mann Bursary Fund Clare Mann Bursary Fund ``` ## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2022`** ## **`15. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 December 2022. ``` ``` Page 17 ``` ## **`The Clare Mann Bursary Fund Clare Mann Bursary Fund`** ## **`Detailed Statement of Financial Activities for the Year Ended 31 December 2022`** ||||`2022`|`2021`| |---|---|---|---|---| ||`Unrestricted`|`Restricted`|`Total`|`Total`| ||`funds`|`funds`|`funds`|`funds`| ||`£`|`£`|`£`|`£`| |**`INCOME AND ENDOWMENTS`**||||| |**`Donations and legacies`**||||| |`Donations`|**`42,725`**|**`-`**|**`42,725`**|`19`| |`Grants`|**`7,015`**|**`-`**|**`7,015`**|`20,851`| ||**`49,740`**|**`-`**|**`49,740`**|`20,870`| |**`Investment income`**||||| |`Income from fixed asset investments`|**`1,893`**|**`-`**|**`1,893`**|`1,928`| |`Deposit account interest`|**`21`**|**`-`**|**`21`**|`-`| ||**`1,914`**|**`-`**|**`1,914`**|`1,928`| |**`Total incoming resources`**|**`51,654`**|**`-`**|**`51,654`**|`22,798`| |**`EXPENDITURE`**||||| |**`Investment management costs`**||||| |`Portfolio management`|**`724`**|**`-`**|**`724`**|`747`| |**`Charitable activities`**||||| |`Grants to individuals`|**`7,729`**|**`-`**|**`7,729`**|`5,134`| |**`Support costs`**||||| |**`Finance`**||||| |`Bank charges`|**`365`**|**`-`**|**`365`**|`365`| |**`Governance costs`**||||| |`Auditors' remuneration`|**`-`**|**`-`**|**`-`**|`500`| |`Total resources expended`|**`8,818`**|**`-`**|**`8,818`**|`6,746`| |**`Net income before gains and losses`**|**`42,836`**|**`-`**|**`42,836`**|`16,052`| |**`Realised recognised gains and losses`**||||| |`Realised gains/(losses) on fixed asset`||||| |`investments`|**`(17,129)`**|**`-`**|**`(17,129)`**|`8,225`| |**`Net income`**|**`25,707`**|**`-`**|**`25,707`**|`24,277`| ``` This page does not form part of the statutory financial statements ``` ``` Page 18 ``` ## **Virtual Cabinet Portal Digital Signatures** ## **Digital Signature Verification** You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page: https://www.virtualcabinetportal.com/VerifySignedDocument ## **Signature Dates and Times** All dates and times shown in the signatures below are expressed in Coordinated Universal Time (UTC), which is generally equivalent to GMT. You can find out more about UTC at the following web page: http://www.virtualcabinetportal.com/WhatIsUTC ## **Signature 1** Signed by Catherine Comley using authentication code V2VtJDZ6Rmk2dVZX at IP address 208.127.199.138, on 2023/06/09 11:24:46 Z. Catherine Comley's e-mail address is: cath.comley@nhs.net.