Charity No 1016883
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL A registered charity
REPORT & UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024
STATUS
The Friends is a registered charity and is supported entirely by volunteers. It is governed by its constitution dated 21[st] September 2021
The Trustees of the charity are the Management Committee. Management Committee members are selected or appointed on an annual basis at the Annual General Meeting, with the officers being elected from the membership of the Management Committee.
MANAGEMENT COMMITTEE
Mrs Hilary O’Neill Chair Ms S Munds Vice Chair Mr A Goodwin Treasurer Ms V Morck Mr T Brown Mrs I Davies Lt Colonel C Dawnay Mrs A Diggle Ms B Kivinen (Appointed 22.05.24) Mr N Massey Dr R Morgan (Deceased 07.04.24) Ms E Pinkster (Appointed 22.05.24) Ms B Riffel Mrs R Spackman Mrs M Waterbury (Resigned 22.05.24)
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THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL LEGAL AND ADMINISTRATIVE INFORMATION (continued) FOR THE YEAR ENDED 31 DECEMBER 2024
MANAGEMENT TEAM
Ms L Doig Mr R G Rooney
(Charity Manager) (Librarian)
PRINCIPAL OFFICE AND OPERATIONAL ADDRESS
The Friends of the Chelsea & Westminster Hospital Chelsea and Westminster Hospital 369 Fulham Road London SW10 9NH
BANKERS
HSBC plc 95 Gloucester Road, South Kensington, London, SW7 4SX
INDEPENDENT EXAMINER
Miss M D Altman FCA for and on behalf of Jeffrey Altman & Company Chartered Accountants Wayman House 141, Wickham Road Shirley Croydon Surrey CR0 8TE
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THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL MANAGEMENT COMMITTEE’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Management Committee submits its report and the independently examined financial statements for the year ended 31 December 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Friends is an unincorporated association, governed by and registered under the provisions of the Charities Acts. It has a Constitution, registered with the Charity Commission, governing among other things its membership, its objects, the appointment and retirement of officers and members of the Management Committee (the Trustees), its financial organisation and the conduct of committee and general meetings.
The Friends has a Management Committee, among whom are a Chair and two Vice-Chairs. Its day-to-day administration is in the hands of a Charity Manager and a Librarian (See page 2 for details).
Trustees are appointed and elected during the Annual General Meeting.
The Friends raises funds directly through fundraising appeals and charitable trading activities; it also has a wholly owned subsidiary, whose accounts are consolidated with those of the Friends, and through which it carries on commercial trading activities.
OBJECTS, ORGANISATION AND ACTIVITIES FOR THE PUBLIC BENEFIT
The object of the charity is to provide support to patients of the Chelsea and Westminster Hospital NHS Foundation Trust and patients in the wider community. This is largely achieved by giving financial grants to departments for expenditure on equipment and by providing services in aid of the patients. In setting this objective the Management Committee have given careful consideration to the Charity Commission’s general guidance on public benefit.
GRANT MAKING POLICY
The charity invites applications principally from the various medical departments of the hospital. The applicants state the amount required and the purpose for which funds are required. The applications are then reviewed by the Management Committee and either approved, in total or part, or rejected. In addition the charity provides a library and Hair Salon for staff and patients, a trolley service with books and another with goods from the shop for patients on the hospital wards. In 2022 it also introduced a lunch trolley service for staff in partnership with local firm B Bagel.
Grant commitments carried forward at 31 December 2023 were £54,163 Grant commitments made during the year 2024 were £93,483 and £10 of grants were cancelled, making total grant commitments at the end of 2024 of £93,473. Of these total commitments, £47,187 was paid during 2024, leaving total commitments at 31 December 2024 of £100,449.
As a matter of accounting policy, grants payable are charged in the year when the offer is conveyed to the recipient, so that grants payable at 31 December 2024 appear in the balance sheet of the Friends as “Creditors”.
RISK MANAGEMENT
The Management Committee has examined the major strategic, business and operational risks which the charity faces and confirms that systems have been established to enable regular reports to be produced which will assist the Management Committee to monitor and control these risks.
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THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL MANAGEMENT COMMITTEE’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW AND INVESTMENT POLICY
Revenue from fund raising has increased to £16,895 (£6,018 in 2023) mainly as a result of the Sponsored Walk to raise money for the Butterfly Volunteer Co-ordinator. This coupled with the material legacies kindly left to us results in a wonderful year for the Charity, with a total revenue generated of £420,480 as opposed to £115,818 in 2023.
Because of these legacies and our strong reserve position, we were able to make grants payable of £93,473. This included two significant grants of £20,000 and £50,000 respectively, which both relate to the Butterfly rooms in order to help palliative care patients.
As a result of the significant legacies gifted, the overall fund balances increased to £527,532 (298,398 in 2023). The cash position at the year end remained strong at £357,567 (2023:£88,457) In addition to our cash reserves other equity investments at the year end were £276,293 (2023:£270,189)
ACHIEVEMENTS AND PERFORMANCE
Details of all the fundraising activities of the Friends are set out in the financial statements, in particular note 2 on page 11. The Friends does not believe it is practical to set financial fundraising objectives in relation to its fundraising activities.
RESERVES POLICY
It has been the policy to maintain funds, which are the free reserves of the charity, at a conservative level as compared with the predicted levels of expenditure. The objective is to provide sufficient funds to cover management, administration and support costs as well as to respond to emergency applications for funding, which arise from time to time.
Unrestricted reserves at 31 December 2024 were £527,532 (2023: £298,398).
PLANS FOR THE FUTURE
Within the scope and framework of its charitable objects and its financial resources, the Friends plan to continue its activities without fundamental change.
At the same time, taking into account anticipated changes in the level and nature of the service offered by Chelsea and Westminster Hospital NHS Foundation Trust, the Friends may adapt some of its fundraising and charitable activities in the future.
Approved by the Chair on behalf of the Management Committee on 21 May 2025
Hilary O’Neill Chair
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Friends of Chelsea & Westminster Hospital
Chair’s Report 2024
After a year of consolidation and celebration in 2023, we entered 2024 in a strong and confident position to continue what we do best which is to support the patients, staff and families across the hospital through our volunteering and grant giving services. None of this would be possible without the tireless efforts of our volunteers, the valuable income from our weekly book and bric-a-brac sales and lunch trolley and the generous donations we receive from our loyal members, but also from patients, their families, and the wider public who recognise the value of our work. This was especially proven in 2024 as we awarded the highest number of grants in 13 years, helping us reach even more departments and improve patient care and staff wellbeing across the Trust.
With that being said, sometimes it is not all good news and the beginning of 2024 brought with it the loss of several much loved members. We were deeply saddened by the passing of our Trustee, Dr Richard Morgan, and two of our dedicated volunteers, Joseph Fernandes and John Roberts. I will share more about in the trustee section below.
We continued to fundraise actively throughout the year and are now looking ahead to organising larger scale events in the near future. Our Christmas fundraising was a particular success, bringing in a record-breaking total of over £8,500.
The Butterfly Volunteer Team also organised a sponsored walk, raising over £10,000 in support of their essential service. This was a truly marvellous achievement.
Communication remains a vital aspect of any organisation and this year, thanks to the work of Elaine Pinkster and Lucy Doig, we began updating our website to make it more accessible and user-friendly. We do hope everyone will find the new design easier to navigate.
I think one of the highlights of the year that we can unanimously agree on was our partnership with The Queen’s Reading Room, a charity working to celebrate and promote the power and benefits of reading, in the UK and beyond. Thanks to their incredible generosity, we received a donation of over 800 books, which has greatly enhanced our library service. We are honoured to have Vicki Perrin, CEO of the Queen’s Reading Room speaking more about the Charity later on.
Our Services
Our book and bric-a-brac sales continue to raise essential and valuable funds for our Charity. Richard Rooney has led the way with a series of themed book sales, ranging from science fiction and history to travel and gardening, which have been well received by visitors. A huge thank you to Richard for his continued efforts in all he does for the sales and events.
Emma Montalto, our hair stylist, remains a popular and vital presence in the hospital. Her professionalism, warmth, and caring manner are consistently praised by both patients and staff.
The Lunch Trolley service, now nearing its second anniversary, remains in high demand. It has become an essential support for staff who are unable to leave their wards during busy shifts. I would like to thank Nicolas Dreyfus and his team of volunteers for their exceptional work in keeping the service running smoothly.
The Butterfly Volunteer Programme continues to be a vital source of comfort for patients at the end of life. We have received many positive comments from families and friends. In October, we were pleased to confirm another year of funding for the role of the Butterfly Volunteer Manager, recognising the importance of this service.
Regarding the Friends Shop, you may be aware that there were plans for the friends shop to be relocated but due to the expansion of the treatment centre this has been postponed for the foreseeable future. Any updates will be provided as and when they occur.
In April of last year our office was relocated to Doughty House which we hope will only be temporary as we work with the Hospital to find a new office in the main building.
Trustees
We were greatly saddened by the sudden passing of Dr Richard Morgan, who served as a Trustee for many years. He was a much admired and respected member of our committee, especially valued for his thoughtful contributions to grant decisions. He also served as the Clinical Director of Medicine for the hospital.
We are very pleased to welcome Alexandra Marsanu as a new Trustee. Alexandra brings fresh insights and will play a key role in shaping our strategy for the coming years.
Grants Update
We are receiving increasing numbers of grant applications, both individually and under our joint schedule with CW Plus.
In 2024, we received 21 grant applications - the highest number since 2011. These included both individual requests and applications submitted through our joint scheme with CW Plus.
The following are just some examples of grants throughout the year:
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£2,225 to the John Hunter Clinic for two AI headsets to help manage pain and anxiety during contraceptive procedures (joint grant with CW Plus)
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£1,653 to the Obstetric Antenatal Department at West Middlesex for refurbishing the Bereavement Room (joint grant with CW Plus)
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£11,046 for furniture for four new Butterfly Rooms
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£5,712 to Obstetrics and Gynaecology at Chelsea for the use of digital holograms to support patient understanding of conditions such as fibroids and endometriosis (joint grant with CW Plus)
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£467 to the Cheyne Child Development Service for sensory toys and equipment used in Sleep Clinics for children with autism spectrum disorder
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£4,190 to Interact for their reading service for stroke patients on Nell Gwynne Ward
Volunteers and Staff
We were very sad with the loss of two of our very long standing library team volunteers, Joseph Fernandes and John Roberts. Both played a major role in our weekly book and bric-a-brac sales. Their dedication and kindness will not be forgotten.
Closing Thanks
I would like to thank all of our Trustees, our wonderful volunteers, Richard for his continued support in all that he does. A special mention must also be given to Lucy Doig who has recently moved to a new position. I would like to thank her for all her hard work and support for the 6 years she was with us. We are pleased to welcome Laila Outaleb as the new Charity Manager and very much look forward to working together.
Lastly, I want to extend heartfelt thanks to our members and donors. Your ongoing support is the foundation of everything we are able to accomplish for the Trust, patients, families and staff.
Thank you.
Hilary O’Neill
Chair, Friends of Chelsea & Westminster Hospital
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL MANAGEMENT COMMITTEE’S RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
The Management Committee is responsible for preparing the Management Committee’s Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Management Committee is required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Management Committee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the Financial Statements comply with the Charities Act 2011, the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the United Kingdom (FRS 102) issued on 16 July 2014 and the provisions of the objects and rules of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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INDEPENDENT EXAMINER’S REPORT TO THE MANAGEMENT COMMITTEE OF THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL
I report to the trustees on my examination of the accounts of The Friends of the Chelsea & Westminster Hospital for the year ended 31 December 2024, which are set out on pages 7 to 17.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
(1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
(2) the accounts do not accord with those records; or
(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Name: M D Altman Relevant professional qualification or body: FCA
JEFFREY ALTMAN & COMPANY Chartered Accountants Wayman House 141, Wickham Road, Shirley Croydon Surrey CR0 8TE Date: 21 May 2025
These unaudited financial statements have been subjected to independent examination. See report on page 6. Page 6
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL CONSOLIDATED UNAUDITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes INCOME AND ENDOWMENTS FROM GENERATED FUNDS Donations and Legacies: Subscriptions, donations and grants 1 Other trading activities: Fundraising appeals 2 Income from charitable trading activities 3 Commercial trading activities 4 Income from Investments 5 Total income and endowments EXPENDITURE Expenditure on Raising funds: Fundraising appeals 2 Charitable trading activities 3 Commercial trading activities 4 Expenditure on charitable activities: Cost of grant making 6 Total resources expended NET INCOMING/(OUTGOING) RESOURCES BEFORE OTHER RECOGNISED GAINS AND LOSSES Other recognised gains and losses: Net (loss)/gain on investments 10 NET MOVEMENT IN FUNDS TRANSFER BETWEEN FUNDS Reconciliation of funds: Fund balances at 1st January 2024 Fund balances at 31st December 2024 14 |
Unrestricted Funds 2024 £ Restricted Funds 2024 £ 297,283 1,851 7,553 9,342 71,333 - 22,800 - 10,318 - _ _ 409,287 11,193 _ _ 1,670 - 28,317 - 2,220 - 154,050 11,193 _ _ 186,257 11,193 _ _ 223,030 - _ _ 6,104 - _ _ 229,134 - - - 298,398 - _ _ £527,532 £ - |
Total Funds 2024 £ 299,134 16,895 71,333 22,800 10,318 _ 420,480 _ 1,670 28,317 2,220 165,243 _ 197,450 _ 223,030 _ 6,104 _ 229,134 - 298,398 _ £527,532 |
Total Funds 2023 £ 11,063 6,018 71,453 19,350 7,934 _ 115,818 _ 649 31,100 2,309 179,716 _ 213,774 _ (97,956) _ 23,087 _ (74,869) - 373,267 _ £298,398 |
|---|---|---|---|
The Charity has no recognised gains or losses other than those shown in the Consolidated Statement of Financial Activities (above).
All activities are continuing.
These unaudited financial statements have been subjected to independent examination. See report on page 6. Page 7
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL CONSOLIDATED UNAUDITED STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes | Unrestricted | Restricted | Restricted | Total | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | |||
| 2023 | 2023 | 2023 | |||
| £ | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | |||||
| GENERATED FUNDS | |||||
| Donations and Legacies: | |||||
| Subscriptions, donations and grants | 1 | 11,063 | - | 11,063 | |
| Other trading activities: | |||||
| Fundraising appeals | 2 | 5,518 | 500 | 6,018 | |
| Income from charitable trading activities | 3 | 71,453 | - | 71,453 | |
| Commercial trading activities | 4 | 19,350 | - | 19,350 | |
| Income from Investments | 5 | 7,934 | - | 7,934 | |
| _ | _ | _ | |||
| Total income and endowments | 115,318 | 500 | 115,818 | ||
| _ | _ | _ | |||
| EXPENDITURE | |||||
| Expenditure on Raising funds: | |||||
| Fundraising appeals | 2 | 649 | - | 649 | |
| Charitable trading activities | 3 | 31,100 | - | 31,100 | |
| Commercial trading activities | 4 | 2,309 | - | 2,309 | |
| Expenditure on charitable activities: | |||||
| Cost of grant making | 6 | 80,752 | 98,964 | 179,716 | |
| _ | _ | _ | |||
| Total resources expended | 114,810 | 98,964 | 213,774 | ||
| _ | _ | _ | |||
| NET INCOMING/(OUTGOING) RESOURCES | |||||
| BEFORE OTHER RECOGNISED GAINS AND | 508 | (98,464) | (97,956) | ||
| LOSSES | |||||
| _ | _ | _ | |||
| Other recognised gains and losses: | |||||
| Net (loss)/gain on investments | 10 | 23,087 | - | 23,087 | |
| _ | _ | _ | |||
| NET MOVEMENT IN FUNDS | 23,595 | (98,464) | (74,869) | ||
| (73,105) | 73,105 | - | |||
| Reconciliation of funds: | |||||
| Fund balances at 1st January 2023 | 347,908 | 25,359 | 373,267 | ||
| _ | _ | _ | |||
| Fund balances at 31st December 2023 | 14 | £298,398 |
£ |
- |
£298,398 |
These unaudited financial statements have been subjected to independent examination. See report on page 6. Page 8
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL UNAUDITED BALANCE SHEETS AS AT 31 DECEMBER 2024
| Group | Charity | Charity | ||||
|---|---|---|---|---|---|---|
| Note_s_ | 2024 | 2023 | 2024 | 2023 | ||
| £ | £ | £ | £ | |||
| FIXED ASSETS | ||||||
| Tangible assets | 9 | - | - | - | - | |
| Investments | 10 | 276,293 | 270,189 | 276,295 | 270,191 | |
| _ | _ | _ | _ | |||
| 276,293 | 270,189 | 276,295 | 270,191 | |||
| _ | _ | _ | _ | |||
| CURRENT ASSETS | ||||||
| Stock | - |
- | - | - | ||
| Debtors | 11 |
2,018 |
1,618 | 4,479 | 3,371 | |
| Cash at bank and in hand | 12 |
357,566 |
88,457 | 353,075 | 84,770 | |
| _ | _ | _ | _ | |||
| 359,584 | 90,075 | 357,554 | 88,141 | |||
| CREDITORS: Amounts falling due | ||||||
| within one year | 13 | (108,345) | (61,866) | (106,317) | (59,934) | |
| _ | _ | _ | _ | |||
| NET CURRENT | 251,239 | 28,209 | 251,237 | 28,207 | ||
| ASSETS/(LIABILITIES) | _ | _ | _ | _ | ||
| £527,532 | £298,398 | £557,532 | £298,398 | |||
| NET ASSETS | ||||||
| FUNDS | ||||||
| Restricted Funds | - |
- | - | - | ||
| Unrestricted Funds | 527,532 |
298,398 | 527,532 | 298,398 | ||
| _ | _ | _ | _ | |||
| TOTAL FUNDS | 14 | £527,532 | £298,398 | £527,532 | £298,398 |
The financial statements on pages 7 to 17 were approved by the Chair and Treasurer on behalf of the Management Committee and authorized for issue on 21 May 2025 and signed on its behalf by:
……………………………. Mrs Hilary O’Neill
Chair
……………………………. Treasurer A Goodwin
These unaudited financial statements have been subjected to independent examination. See report on page 6. Page 9
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING CONVENTION
The financial statements have been prepared in accordance with applicable UK accounting standards under the historical cost convention, on a going concern basis, as modified by the revaluation of fixed asset investments to market value. The financial statements have been prepared in all significant respects in accordance with the Charities (Accounts and Reports) Regulations 2008 and the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) issued on 16 July 2014 and with the Charities Act 2011. There were no departures from that standard.
GROUP FINANCIAL STATEMENTS
The Statement of Financial Activities (SOFA) and balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking, Friends’ Shop (C & W) Limited on a line by line basis.
PUBLIC BENEFIT
The Charity constitutes a public benefit entity as defined by FRS 102.
TANGIBLE FIXED ASSETS
Fixed assets are stated at historical cost. Assets costing more than £400 are capitalised.
Depreciation is provided on all tangible fixed assets at rates calculated to write each asset down to its estimated residual value evenly over its expected useful life as follows: Office equipment 20% straight line
FIXED ASSET INVESTMENTS
The subsidiary company is included at its equity value based on the company’s balance sheet net asset value. Other fixed asset investments are stated at market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.
INCOMING RESOURCES
Entitlement for subscriptions, donations and grants is deemed to be taken when the money is received. Legacies are accounted for when receipt is probable.
Fundraising appeals are recorded in the year in which the event takes place.
Charitable trading activity income is deemed to be taken when the money is received.
Investment income comprises dividend income and bank interest receivable. The income is accounted for on an accruals basis.
RESOURCES EXPENDED
Expenditure is included on an accruals basis. Costs of generating funds comprise those costs directly attributable to raising funds. Grants payable are charged in the year when the offer is conveyed to the recipient.
Support costs comprise costs for running the library and other activities and the cost of running the charity. Governance costs comprise costs incurred in the governance of the charity’s assets and costs incurred in respect of constitutional and statutory matters.
RESERVES
Reserves comprises of unrestricted general funds and reserved funds.
Reserves are maintained to provide sufficient funds to cover management, administration and support costs as well as to respond to emergency applications for funding, which arise from time to time.
These unaudited financial statements have been subjected to independent examination. See report on page 6. Page 10
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 1 SUBSCRIPTIONS, DONATIONS AND GRANTS Unrestricted Funds Restricted Funds 2024 2024 £ £ Donations received Gift Aid Received 3,373 750 - 1,851 Subscriptions received 4,026 - Legacies and Trusts received 289,134 - 297,283 1,851 Donated services received, but not valued amount to: Trolley volunteers- Various between 20 and 4 hours per week Library rounds- 6 hours per week Average hours per week Book sales volunteers – 3 Averages hours per week-Bric a Brac- 3 The Friends office is granted free of charge to the Charity. 2 FUNDRAISING APPEALS- Proceeds £ Organisers Costs £ Christmas Fair 2,586 439 Summer Fair 1,650 128 Sponsored Walk-Butterfly Rooms 9,342 - Bright Side Concert 19 891 Easter Raffle Carol Service - - - - Christmas Prize Draw 3,298 212 Coronation Cake Sale Best for You - - - - £16,895 £1,670 Proceeds £ Costs £ 3 CHARITABLE TRADING ACTIVITIES Traders’ licence fees Clothes sales 12,859 5 - - Bric-a-brac/Library 17,469 647 Lunch Trolley Christmas card sales 35,316 5,684 25,233 2,437 £71,333 £28,317 |
Total 2024 £ 3,373 2,601 4,026 289,134 299,134 2024 Net £ 2,147 1,522 9,342 (872) - - 3,086 - - £15,225 2024 Net £ 12,859 5 16,822 10,083 3,247 £43,016 |
Unrestricted Funds 2023 £ 1,999 - 3,565 5,499 11,063 2023 Net £ 2,527 - - - 57 (26) 1,979 332 500 £5,369 2023 Net £ 8,674 50 20,008 8,968 2,653 £40,353 |
Restricted Funds 2023 £ - - - - - |
|
|---|---|---|---|---|
These unaudited financial statements have been subjected to independent examination. See report on page 6. Page 11
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4.. COMMERCIAL TRADING ACTIVITIES AND INVESTMENT IN SUBSIDIARY
The wholly-owned subsidiary, Friends’ Shop (C & W) Limited, which is incorporated in the United Kingdom, pays all its profit to the charity by gift aid. Friends’ Shop (C & W) Limited has the right to lease part of the floor area within the hospital. The right has been granted free of charge. The charity owns the entire issued share capital of 2 ordinary shares of £1 each, which are held by two of the directors as nominees for the charity.
| SUMMARY PROFIT AND LOSS ACCOUNT Rental income Other income Administrative expenses Net profit Amounts gifted to the charity Retained in the subsidiary The assets and liabilities of the subsidiary were: Current assets Creditors: Amounts falling due within one year Total net assets Aggregate share capital and reserves |
2024 £ 22, 800 - (2,220) 20,580 (20,580) - 6,491 (6,489) £2 £2 |
2023 £ 18, 600 750 (2,309) 17,041 (17,041) - 5,287 (5,285) £2 £2 |
|---|---|---|
At the balance sheet date the subsidiary owed the Charity £4,461 (2023: £3,353). The amount receivable is unsecured, interest free and has no fixed date of repayment.
| 5 INVESTMENT INCOME Income from Fixed Asset Investments Interest on cash deposits |
2024 £ 9,607 711 £10,318 |
2023 £ 7,771 163 £7,934 |
|---|---|---|
These unaudited financial statements have been subjected to independent examination. See report on page 6. Page 12
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 6 GRANTS PAYABLE John Hunter Clinic Macmillan Centre Gynaecology Outpatients Edgar Home Ward Respiratory Physiotherapy Children’s Music Therapy Maternity Bereavement Service Cheyne Child Development Service Clinical Learning and Development Labour Ward Phlebotomy Department Palliative Care-Butterfly Rooms Stroke Unit Obstetric Antenatal Department (West Mid) Best for You Project Inpatient Pharmacy Osterley 1 and 2 Wards, Volunteering Department Butterfly Volunteer Coordinator Obstetric & Gynaecology Support cost (Note 7) |
Unrestricted Funds 2024 £ 2,225 - 668 - - - 290 461 3,948 449 - 20,320 4,190 1,654 - - - 246 42,117 5,712 82,280 71,770 154,050 |
Restricted Funds 2024 £ - - - - - - - - - - - - - - - - - - 11,193 - 11,193 - 11,193 |
||
|---|---|---|---|---|
These unaudited financial statements have been subjected to independent examination. See report on page 6. Page 13
THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 6 GRANTS PAYABLE (continued) Reconciliation of grants payable: Commitments at 1 January 2024 Commitments made in the year Grants cancelled Grants payable for the year Grants paid during the year Commitments at 31 December 2024 payable within one year (Note 13) 7 SUPPORT COSTS Promotion and marketing Salaries and national insurance (Note 8) Printing, postage and stationery expenses Repairs and renewals Subscriptions Travelling Donations Sundry Legal and Professional Fees Independent Examination fee Accountancy fees |
£ 2024 £ 54,163 93,483 (10) 93,473 (47,187) £100,449 |
£ 112,231 (6,206) 2024 £ - 63,434 1,355 - 1,699 58 - 544 420 1,750 2,510 £71,770 |
2023 £ 25,227 106,025 (77,089) £54,163 2023 £ 158 59,107 1,935 - 1,685 127 - 860 5,775 1,660 2,384 £73,691 |
|---|---|---|---|
These unaudited financial statements have been subjected to independent examination. See report on page 6.
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THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | ||
|---|---|---|---|
| 8 | EMPLOYEES | £ | £ |
| Wages and salaries | 61,724 | 57,504 | |
| Social security costs | - | - | |
| Pension Contributions | 1,710 |
1,603 |
|
| £63,434 | £59,107 | ||
| The average monthly number of employees during the year was: | |||
| Administration | 2 | 2 | |
| No employee earned greater than £50,000 (2023: None) | |||
| During | the year £60 (2023: £Nil) was reimbursed for expenses to members of the Management | Committee. |
| 9 TANGIBLE FIXED ASSETS COST OR VALUATION Balance as at 1 January 2024 Balance as at 31 December 2024 DEPRECIATION Balance as at 1 January 2024 Charge for year Balance as at 31 December 2024 NET BOOK VALUE As at 31 December 2024 As at 31 December 2023 |
Group & Charity Office Equipment £ 7,229 |
Group & Charity Office Equipment £ 7,229 |
|---|---|---|
| 7,229 | ||
| 7,229 - |
||
| 7,229 | ||
| £- £- |
These unaudited financial statements have been subjected to independent examination. See report on page 6.
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THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 10 FIXED ASSET INVESTMENTS At cost Investment in subsidiary company Investments Market value 1 January 2024 Additions Disposals (Loss)/Gain on revaluation Market value at 31 December 2024 Total fixed asset investments Historic cost as at 31 December 2023 |
Group 2024 £ 2023 £ 270,189 247,102 - - - - 6,104 23,087 £276,293 £270,189 £276,293 £270,189 £140,039 £140,039 |
Charity 2024 £ 2023 £ 2 2 270,189 247,102 - - - - 6,104 23,087 £276,293 £270,189 £276,295 £270,191 £140,039 £140,039 |
|---|---|---|
The wholly owned subsidiary company, Friends’ Shop (C & W) Limited, leases out a shop and a hairdressing salon within The Chelsea and Westminster Hospital. All taxable profits are donated as gift aid to the Charity.
The investments at the year ended 31 December 2024 were in the COIF Charities Investment Fund Income Units.
| 11 DEBTORS Trade debtors Amount due from subsidiary undertaking Other debtors Prepayments and accrued income |
Group 2024 £ 2,000 - 18 - £2,018 |
2023 £ 1,600 - 18 - £1,618 |
Charity 2024 £ 2023 £ - - 4,461 3,353 18 18 - - £4,479 £3,371 |
|---|---|---|---|
These unaudited financial statements have been subjected to independent examination. See report on page 6.
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THE FRIENDS OF THE CHELSEA & WESTMINSTER HOSPITAL NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Group | Group | Charity | Charity | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 12 | CASH AT BANK AND IN HAND | 2024 | 2023 | 2024 | 2023 | ||||||
| £ | £ | £ | £ | ||||||||
| Current account | 47,534 | 17,669 | 43,043 | 13,982 | |||||||
| Money market account | 310,000 | 70,761 | 310,000 | 70,761 | |||||||
| Petty cash | 32 |
27 |
32 |
27 |
|||||||
| £357,566 | £88,457 | £353,075 | £84,770 | ||||||||
| Group | Charity | ||||||||||
| 13 | CREDITORS:Amounts falling due | ||||||||||
| within one year | 2024 | 2023 | 2024 | 2023 | |||||||
| £ | £ | £ | £ | ||||||||
| Grants payable | 100,449 | 54,163 | 100,449 | 54,163 | |||||||
| Other creditors | - | - | - | - | |||||||
| Accruals | 7,896 |
7,703 |
5,868 |
5,771 |
|||||||
| £108,345 | £61,866 | £106,317 | £59,934 | ||||||||
| 14 | STATEMENT OF | 1 January | Incoming | Outgoing Investment |
Transfer in | 31 December | |||||
| FUNDS | 2024 | Resources | Resources |
(Losses)/ | funds | 2024 | |||||
| £ | £ | £ | Gains | £ | £ | ||||||
| £ | |||||||||||
| Unrestricted funds | 298,398 | 409,287 | 186,257 | 6,104 | - | 527,532 | |||||
| Restricted funds | - |
11,193 |
11,193 |
- |
- |
- |
|||||
| Total funds | £298,398 | £420,480 | £197,450 |
£6,104 | £- | £527,532 |
Unrestricted funds comprise those funds which the Management Committee is free to use in accordance with the charitable objects.
Restricted funds - comprises of funds relating solely to the Butterfly rooms and Palliative Care and Best for You Project.
15 TAXATION
As a charity, The Friends of the Chelsea & Westminster Hospital is exempt from taxation on income and gains falling within Section 505 of the Taxes Act 1983 or Section 256 of the Taxation of Chargeable Gains 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
The trading subsidiary has retained profits of £Nil and therefore no provision is required for taxation.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
Page 17