Charlty registration number 1010199 Company registration number 2375555 (England and Wales) LADY FORESTER HOSPITAL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
LADY FORESTER HOSPITAL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Directorsfrrustees G Forester C Bagnall HFOX S Evans-Tumer (Appointed 31 December 2023) Secretary S Keenan Charity number 1010199 Company number 2375555 Registorod office The Lady Forester Centre Chur¢h Street Broseley Shropshire United Kingdom TF12 5DB Independent examiner Azets St David's Court Union Streel Wolverhampton West Midlands WV13JE
LADY FORESTER HOSPITAL TRUST CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 8-17
LADY FORESTER HOSPITAL TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 30 APRIL 2024 The directorsftrustees present their annual report and financial statements for the year ended 30 April 2024. The accounts have been prepared in accordan with the a¢counting policies set out in note 1 to the accounts and mplY wllh the charlly's govemlng document. the Companies Act 2006 and "Accounting and Reporting by Charities.. Statemènt of Recommended Practice applicable to charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102){effective 1 January 2015)" Objectlves and actlvltlos The trust's objects are ar8 to piomot8 the relief of persons who by reason of ag8 or mental illness, physical or menlal handicap, require special care, education or training., to provide for the instruction and advancement of such persons on Ihe property of the Charitable Company or elsewhere by provldlng or supporting schools, homes, hostels and training centres., to provide facilities for the recreation and other leisure time occupation In th8 inter8sI of their social walfare within the meaning of the Recreational Charities Act 1958 and as therein limited. The poliGies adopted in furtheran¢e of these obie¢ts are the providing of full lime and respite care to Indlvlduals requlrlng such support, along with the provision of a daycare facility to enable others to access the facilities available, and there has been no change in these during the year. The directorsnrustee5 have paid due regard to guidance issued by the Charity Commission in deciding what a¢tivitles the trust should undertake. The trustees remain proactiv8 in their aim, which is to provide our residents with a high standard of Ca within a safe, secure, comfortable and happy environment. The trustees continue to invest in the rnalntenan of the bulldlng. All the fire doors now meet current fire door regulations. Two new Central heating boilers have been installed. The trustees appoint8d a new general manager, the managers remit being to robustly ensure that all the care given to our residents is safe, effective and individually planned to meet all the requirement$ of the standards required by the Care Quallty Commisslon. The managers role also indudes the hlrlng of new stsff, ensuring thal all the stsff are up to date with training courses, their appraisals and supervisions are completed on time. complaints are inv8sligated and and disciplinary actions undertaken when and if required. The financial situation remains difficutt. The cost of utility bills has had a massive impact on our finances, however with careful management we remain solvent. This being the case the trustees have made the decision to increase the homes capacity by 2 - taking US UP to 16 residents. We have applied to the Care Quality Commission to increase our room number to 16 - an increase of 2 residènts. Work is planned to start on this project In the new flnancial year. The trustees are planning to raise money for the installation of a sensory garden. It is planned that in late sprlng a sponsorèd walk will b8 undertaken. Hopefully if the walk is a sucess, plans for a gr0p of volunteers of fundraisers will be implemented to raise money at fulure events. Flnanclal ravlew It is the policy of the trust that unrestricted funds which have not been designated for a specific use shouhJ be maintained at a lev81 equivalent to b8tween three and six month's expenditure. The director5rtrustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust's current activities while consideration is given to ways In which addltlonal fvnds may be raised. This level of reserves has been maintained throughoLrt the year.
LADY FORESTER HOSPITAL TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 The direclorsltrustees have assessed th8 major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Structure9 governance and management The trust is a Company limited by guarantee whose goveming document is the memorandum and articles of associatlon, dated 25th April 1989. The directorsltrustees, who are also the directors for the purpose of company law, and who served during the y8ar and up to the date of signature of the finandal statements Were.. G Forester C 8agnall HFOX T B Taylor S Evans-Turner (Resigned 2 December 2023) (Appointed 31 December 2023) None of the dir8Ctorsltrustees has any beneficial InteSt in the company. All of the dire¢torsArustees a members of the company and guarantee to contribute £1 in the event ofa winding up. Day to day running d8cisions are made by the Care Homé Manager. who POrtS to the Board ofTrustees on a regular basis. Significanl financlal or other decisions are discussed by the Board and the decision passed down to the Care Home Manager. New trustees are provided with historocal accounts and Trustee reports as an induction policy. The truslees, report was approved by the Board of DirectorSrUStees. HFOX Trustee Ir.....o.1:2o2J
LADY FORESTER HOSPITAL TRUST INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORsrrRUSTEES OF LADY FORESTER HOSPITAL TRUST I report to the directorsltrustees on my examination of the finanaal statements of Lady Forester Hospital Twst (the trust) for the year ended 30 April 2024. Rosponslbllltles and basls of report As the dire¢torsltrustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requlrements of the Compani8s Act 2006 (th8 2006 Act). Having satisfied myself that the financial statements of the twst are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the trust's financial statements carr5ed out under section 145 of the Charities Act 2011 (the 2011 Act). In ¢arying oul my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the 2011 Ad. Independent examinerf8 Statement Since the trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualffled to undertake the examination because l am a member of ACCA, which is one of the listed bodies. I have completed my examination. I confirm that no matters have Come to my attention in connection with the examination giving me cause to believe that in any materlal respe¢t: accounting records were not kept in respect of the trust as required by section 386 of the 2006 Act" or the financial statements do not accord with those records,. or the flnan¢lal statements do nol comply with the accounling requirements of seclion 396 of th8 2006 Act othèr than any requirement that the accounts give a Irue and fair vlew whi¢h is not a matter considered as part of an independent examination" or the financial siatements have not been prepared in accordance with the m8thods and principles of the ststement of Recommended Pradice for aOUntIng and reporting by charities applicable to ¢haritiès preparing their a¢¢ounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Rèpublic of Ir81and {FRS 102). I have no concerns and have come across no olher matters in ¢onnection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Helen Tinsley FCCA St David's Court Union Street Wolvefhampton 13JE United Kingdom
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LADY FORESTER HOSPITAL TRUST SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 APRIL 2024 30 April 2024 30 Aprll 2023 Income Donations and gifts Donations Grants Respite Care Fees Resident Care Fees Other Fees Interest receivable Profit on Sale of fixed asset 9,580 23 6,124 5,594 40.811 581,103 14,374 1,385 72,055 532,875 3,119 77 Total Income 647,276 619.844 Expenditure Wages and salaries Social security costs Staff pension costs Telephone Motor and travel Postage and stationery Repairs and maintenance - Daycar8 Repairs and maintenance - Trust Light & heat Rates Community care teleplK>ne Staff expenses and training Food purchases Insurance Professional fees 446,357 30,629 7,294 1.842 395 11,648 44,659 419,568 28,036 6.862 2,916 453 20,253 53,326 36.072 1.449 18,686 1.251 3.867 22,675 30,400 3,240 3,758 19,870 9,234 3,500 Operating costs 640,527 585.713 Net operating {income)Jexpenditure 6,749 34,131 Depreciation - Daycare Depreciatlon - Trust 7,690 16,391 7.690 16.820 Net {expendlture}Iln¢ome for the year (17.332) 9.621
LADY FORESTER HOSPITAL TRUST BALANCE SHEET AS AT 30 APRIL 2024 2024 2023 Notes Fixod assets Tan9ible assets 12 547,058 552.384 Current assets Debtors Cash at bank and in hand 13 55.156 147,490 51,388 176.535 202,646 227.921 Credltors: amounts falllng due wlthln one yoar 14 (33,133) (48,278) Net current assets 189,513 181,643 Total assets le88 current Ilabllities 716,571 734,027 Capital funds Endowment funds - general Income funds Unrestricted funds Designated funds 114,268 114.268 16 602,303 619,759 602,303 619,759 716,571 734.027 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies A 2006, for the year ended 30 April 2024. The direclor ad(now18dges her responsibilities for complying with the requirem8nls of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required Ihe company to obtain an audit of ts financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance wilh the provisions applicable to companies subjed to the small companies regime. The financJal statements were approved by the Directorsrrrustees on . HFOX Trusts• Company Registration No. 2375555
LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 Accounting policles Charity informolion Lady Forester Hospital Trust is a private company limited by guarantee Incorporated in England and Wales. The registered office Is The Lady Forester Centre, Church Street, Broseley, Shropshir8. TF12 5DB, United lfjngdom. 1.1 Accounting convention The financial statements have been prepar8d in accordan with the trust's m8morandum and articles. the Companies Act 2006 and 'Accounting and Reportlng by Charities.. Statemenl of Re¢ommended Practice appllcable to chariti8s preparing thelr accounts in accordancè with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The trust is a Public Benefft Entity as deflned by FRS 102. The trust has tsken advantage of the provlsions in the SORP for charities applylng FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterflng, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the n8arest £. The financial statements have be8n prepared under the historical cost conntion. The prin¢ipal accounting poli¢6es adopted are set out below. 1.2 Going concern At the time of apwoving the financial statements, the directorsArustees have a reasonable expectation that the Irust has adequate reSOurS to Gontlnue in operational existence for the foreseeable future. Thus the directorsltrustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the dis¢retion of the directorsltrustees in furtherance of their charltable objectives. Restricted funds are subject to specific conditions by donors as to how they rnay be used. The purposes and uses of the restricted funds are set oul in the notes to the financial statements. The endowment fund has arisen from the sale of part of the original land surrounding the Hospital, and were given for use in supporting the Trust within the objects of the charity. 1A kncome Incom8 is recognised when the trust is legally entitled to Èt after any perfom)ance conditions have been met. the amounts can be measured reliably, and it is probable that in¢ome will be rerkived. Cash donations are recognised on rec8iPt. Other donations are recognised onc8 the trust has been notified of the donation, unless performance conditions require deferral of the amount. InGome tax recoverable in relation lo donations received under Gift Ald or deeds of covenant is recognised at the time of the donation. Legacies are recognised on re¢elpt or otherwise if the trust has been notlfied of an impending distribution, the amount is known, and receipt is expected. If the amount Is not known, the legacy is Iated as a contingent asset. Voluntary income is receiv8d in the forrn of donations and gifts and is included in full when receivable.
LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accountlng policies {Contlnued) 1.5 Expondlture Expenditure is r8cognis8d once there is a legal or constru¢tive obligation to transfer economic benefft to a third party, it is probable that a Iransfer of economic benefits will be required in settlement, and the amount of the t)bllgatlon can be measured reliably. Expenditure 18 classified by activity. The costs of eaL* activity are made up of the total of dired costs and shared ¢osts, including support costs involved in undertaking eath activty. Direct costs attributable to a single activity are allocated directly to that adivity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single a¢tivity a apportioned beleen those activilies on a basis consistent with the use of r8sourc8s. Central staff costs are allocated on th8 basis of time spent, and dèpreciation charges are allocated on the portion of the asset's use. Expenditure i¥ recognised on an accrual basi5 as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Any costs associaled with the running of the car8 home and daycare centre are recognised as expenditu relating to charitable activiiies. Any costs incurred on the general administration or legal and adminlstratlve compliance are re¢ognised as govemance costs. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases- Land and buildings Plant and machinery 1- 8% per annum 12.50/0 Per annum The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carying value of the asset, and is recognised in the stat8m&nt of financial activities. 1.7 Impaimient of fixed assets At ea¢h reporting end date, the trust reviews the carying amount5 of it5 tangible assels to determine whether there Is any Indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss {if any). 1.8 Cash and cash equlvalents Cash and cash 8quivalents includ8 cash in hand, d8POSits held at call with banks, other Short-tem) liquid investments with original maturilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial Instruments The trust has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issu88' of FRS 102 to all of its financial instruments. Financial instnjments are recognised in the trust's balance sheet when the trusl becomes party to the c¢)ntractual provisions of th8 instrumenL Financial assets and liabilitS are offset, with the net amounts presented in the financial statements, when there is a legally 8nforceable right to set off the recognis8d amounts and there is an inlention to settl8 on a n8t basis or to realise the asset and settl8 the liability simultaneously.
LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Accountlng policies (Continued) Basic financial assets Basi¢ financial assets, which include debtor5 and cash and bank balances, are initially measured at transa¢tlon price including transaction costs and are subsequently carrled at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of Ihe future receipts discounted at a mark8t rate of interest. Financlal assets dassified as receivable wlthin one year are not amortised. Baslc flnon¢ial Ilabilltios Basic financial liabilities, including creditors and bank loans are initially recognised at transactlon price unless the arrangement constitutes a financing transactron, where the debt instrument is measured al Ihe present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, Using the effective Interest rate method. Trade creditors ar8 obligations to pay for goods or serVIS that have been acquir8d in the ordinary course of operations from suppliers. Amoun15 payable are dassified as current liabilities if payment Is due within one year or 18ss. If not, they are presented as nonwcurrent liabilities. Trade creditors are recognised initially at transaction price and subsequentty m8asured at amortised cost uslng the effective interest method. Derecognltlon of financlal Ilabllltles Financial liabllltles are derecognised when the trust's contractual obligatlons expire or are discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entillem8nt is re¢ognised in the period In which the employee's s8rvices are received. Termination benefits are recognised immediately as an expense when the trust Is demonstrably committed to terminate the employment of an employ8e or to provide termination benefits. 1.11 Retirement boneflts The company operates a defined contribution pension schem8 which Is Independently administered. Pension costs are recogni88d as th8 become due. crftlcal accounting estlmate$ and judgements In the application of the trust's accounting policies, the directorsllrustees are requlred to make judgements. estimates and assumptions about the carrying amount of assets and Ilabllities that are not readily apparent from other sources. The estimates and assouated assumptions are based on historical expetience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. R8vi$ions to accounting estimates are cOgniSed in the perlod in which the estimate is revis8d Whe thè revision affects only that period, or in the period of the revision and future periods where the revision affects both ¢urrent and fvture periods. 10-
LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Donatlons and legacies Unrestrictsd Restrlcted funds funds Total 2024 Total 2023 Donations and gifts Donations Grants 9.580 23 2.100 9.580 23 2,100 6,124 5,594 9,603 2,100 11,703 11,718 For the year ended 30 April 2023 11,718 11,718 Charitable activities 2024 2023 Respite care fees Resident care fe8S Fees 40,811 581,103 14,374 72,055 532,875 3,119 636,288 608,049 Investments Unrastrictod Unre$trl¢ted funds funds 2024 2023 Interest receivable 1,385 77 11
LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 Charitable activitles 2024 2023 Staff costs Depredation and impaimient Telephone Motor and travel Postage and stationery Repairs and maintenance - Daycare Light and heal Rates Staff training Food 484,280 7,690 452.466 7,690 2,916 453 20,253 53,326 18,688 1,251 3,758 19,870 395 11,648 44,659 36,072 1,449 3,867 22,675 816,801 580,669 Share of support costs (see note 7) 50,031 29,554 666.832 610,223 Support costs Support Govemance ¢ts 2024 2023 Depreciation Insuranc Professional fees 16,391 30,400 3.240 16,391 30,400 3,240 16.820 9,234 3,500 50,031 50,031 29,554 Analysed beeen Charitable a¢ttvilies 50,031 50.031 29,554 Independent Examiners fees Fees payable to the independent examiner and associates: 2024 2023 Ind8P8ndenl examiners fees 3,240 3,000 12-
LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 DlrectorslTrustsos None of the directorsltrustees (or any personB cDnne¢ted with them) rec8iV8d any r8mun8ration during the year. also none of them were reimbursed travelllng expenses (2023- none were reimbur5ed>. 10 Employees Number of employees The average monthly number of employees during the year was: 2024 Number 2023 Number 18 22 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 446,357 30,629 7.294 419.568 26,036 6.862 484,280 452,466 There were no employees whose annual remuneration was £60.(h)O or more. 11 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or sedion 252 of the Taxationof Chargeable Gains Ad 1992 to the extent that these are applied to it5 charitable objects. 13-
LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 12 Tangible fixed assets Land and bulldlng8 Pknl and ma¢hIry ToLI1 Cost At 1 May 2023 Additions 758.013 162.705 18,756 920,718 18,756 At 30 April 2024 758,013 181,461 939,474 Deproclatlon and impalrn*nt At 1 May 2023 Depreciation charged in the year 256,721 11,605 111,614 12,476 368,335 24,081 At 30 April 2024 268.326 124,090 392.416 Carrying amount At 30 April 2024 489,687 57,371 547,058 At 30 Aprll 2023 501,292 51,092 552,384 13 Debtors 2024 2023 Amounts falling due within one year. Trade debtors Prepayments and accrued in¢ome 45,661 9,495 36,043 15,343 55,156 51,386 14 Creditors: amounts falllng due wlthin ono year 2024 2023 Trade creditors other credrtors Ac¢ruals and deferred income 4,122 8,867 20,144 24,710 7,550 14,018 33,133 46,278 14-
LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 15 Restrlctsd funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes= Movement in funds Incomlng Balane• at rnsourcgs 1 May 2023 Movement in funds In¢omlng our¢o$ R9$0urc9¥ frxpènded Tran5fern Balance at 30 April 2024 Digitisation grant 2,100 {2,224) 124 15-
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LADY FORESTER HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 18 Related party transactions There were no disclosable related party transactions during the year (2023 - none}. 17