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2021-03-31-accounts

Liverpool Women’s NHS Foundation Charitable Trust

Trustees’ Annual Report and Financial Statements For the year ended 31[st] March 2021

The Liverpool Women’s NHS Foundation Charitable Trust Registered Charity No. 1048294

Liverpool Women's NHS Foundation Charitable Trust

Table of Contents

1. Chair’s Statement………………………………………………………………… 1

2. Trustee’s Annual Report…………………………………………………………		 2

3. Statement of Trustee’s Responsibilities………………………………………		 31

4. Independent Examiners Report to the Trustee’s of The Liverpool
Women’s NHS Foundation Charitable Trust………………..……………….. **32 **

5. Statement of Financial Activities …………………………………………..….		 33

6. Balance Sheet……………………………………………………………………..		 34

7. Statement of Cash Flows…………………..……………………………………		 35

8. Notes to the accounts….…………………..……………………………………		 36

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

Liverpool Women's NHS Foundation Charitable Trust

Chairs Statement

Welcome to the Liverpool Women’s NHS Foundation Charitable Trust Annual Report and Accounts for the financial year 1st April 2020 to 31st March 2021.

Putting patients first is at the heart of everything we do. Our aim is to support the work of Liverpool Women’s NHS Foundation Trust in providing the best possible healthcare for its patients, and to support research that will benefit patients here and elsewhere. Alongside that main aim we also help to fund research and staff welfare initiatives as well as providing greater access to training and development opportunities.

Liverpool Women's NHS Foundation Trust is a specialist trust providing maternity, gynaecology, genetics and neonatology services in Liverpool and the North Mersey conurbation. It is also the recognised specialist provider in Cheshire and Merseyside of high risk maternity care including fetal medicine, the highest level of neonatal care, complex surgery for gynaecological cancer, reproductive medicine and clinical genetics. It is the largest hospital in Europe to exclusively care for the health needs of women.

Our support for the Liverpool Women’s NHS Foundation Trust helps the hospital to deliver best possible services and facilities to our patients, families and our dedicated staff, and as a charity we continue to support a wide range of charitable and health related activities during 2020/21, focussing on four key areas:

The Charity works hard to raise funds on behalf of the Trust to enhance overall patient experience by providing services and equipment above what is normally funded by the NHS. These enhancements make a big difference to the comfort and well-being of our patients. At the time of writing this report, COVID-19 has again dominated the year but for the year ahead, we hope to implement a range of fundraising activities to support the work of Liverpool Women’s NHS Foundation Trust.

On the following pages you will see a selection of highlights and achievements from this past year.

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Liverpool Women’s Hospital Charity - Who we are:

Putting patients first is at the heart of everything we do. Liverpool Women's Charity is registered with the Charity Commission for England and Wales – registration number 1048294. The charity works hard to raise funds on behalf of the Trust to enhance overall patient experience by providing services and equipment above what is normally funded by the NHS. These enhancements make a big difference to the comfort and wellbeing of our patients.

Our charitable programmes fully support the entire range of patient services. The aim of the Liverpool Women's Charity is to support the care given to patients and their families. Alongside that main aim we also help to fund research and staff welfare initiatives as well as providing greater access to training and development opportunities.

How LWH Charity Fundraises

We adhere to the Fundraising code of practice. All campaigns are managed by the Charity’s staff and during the year LWH Charity did not receive any complaints about its fundraising approach and processes.

LWH Charity was not involved in any social investment over the past 12 months.

LWH Charity and grant making

LWH Charity was not involved in making any grants to external organisations over the last 12 months, but it did make grants to internal projects as per our aims and objectives.

LWH Charity donated goods and services

COVID 19 Gifts in Kind

LWH Charity was overwhelmed by the generosity of the community and local corporates at the start of the Covid 19 pandemic. Up until the end of March 2021 we continued to receive donations of toiletries and food and drink, which was distributed to our staff across the site to support staff welfare and wellbeing.

Public Benefit

Liverpool Women’s NHS Foundation Trust is the main beneficiary of the Charity and is a related party by virtue of being a corporate Trustee of the Charity. By working in partnership with the Trust, the charitable funds are used to the best affect for the benefit of the public served by the Trust. When deciding upon the most beneficial way to use the charitable funds, the corporate trustee has to take into regard the main objectives, strategic plans of the Trust, whilst ensuring that the grants reflect the wishes of patients and staff.

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Our Fundraising Highlights 2020 - 2021

Over the past 12 months we have been incredibly grateful to all our supporters, who have committed themselves to fundraising for LWH Charity, helping us to raise funds to make a difference to the women and babies.

Key highlights:

How our supporters have helped

Everton in the Community and NCS – National Citizen Service

We were absolutely delighted to meet the group from Everton in the Community and NCS - National Citizen Service who responded to our Care Bag Appeal.

The group took part in a 14km sponsored walk to raise funds to purchase items for 12 care boxes for women who have experienced a miscarriage. Thoughtful items such as leggings, toiletries, candles and chocolate along with beautiful hand written notes were included in each care box.

Thank you so much to Everton in the Community and all members of the NCS group involved for your kindness and generosity. Your donations will make a big difference to the experience of women in our care and we are so grateful for your support.

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Keeling Family

On 24th November 2019, Albie was taken to the Liverpool Women's Neonatal Unit. Albie needed surgery to treat a condition called Necrotizing enterocolitis (NEC). Luckily after the care and support and lots of medical intervention from the whole neonatal team, Albie was able to go home on 23rd January 2020., without the need for surgery.

Jemma Keeling and her partner had to use the parent accommodation so that they were as close as possible to Albie. Having first hand experience in using this accommodation they noticed the need to help raise funds to refurbish and improve the accommodation.

Together they raised an amazing £1,347 for our Big Tiny Steps Appeal.

Thank you so much for wanting to support other families that use our services.

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Sarah and Bryn Jones

Massive thank you to Sarah & Bryn Jones, for raising an amazing £6,493 in memory of their beautiful daughter Ela Megan Jones.

"Our daughter Ela Megan Jones was born at 30 weeks, and with a rare but serious condition called Hydrops, which is where fluid builds up within the body. Ela was transferred to the Neonatal Unit in LWH at just one day old. She had the most fantastic care by all the team, and she fought just as hard as every member of staff who looked after her. Unfortunately, she passed away at just one week old despite everyone's best efforts.

The level of care and support that Ela, and we as parents received was truly outstanding. It would mean the world to us as Ela's parents, to be able to give back a small token to the Hospital, to help support the unit that gave us such a precious week with our daughter, so they can continue their care for poorly babies and their families."

Thank you to all who donated in memory of Ela.

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LFC Foundation Liverpool FC

A massive thank you to LFC Foundation Liverpool FC and Joie for the beautiful baby gift packs for our new families staying here with us at Liverpool Women's Hospital.

Leroy Valentine

Very special thanks to the amazing Leroy Valentine for doing a 20 hour Stairmaster session at PureGym Woking for our Honeysuckle Bereavement Team.

"I am a proud dad of 4 beautiful girls and an angel boy, Percy Anthony Valentine, who sadly fell asleep and grew his wings in my arms in March 2016. I will forever treasure those precious few hours I got to spend with him and often wonder what mischief he's getting up to and whether he's sport crazy like me!

A loss of a child is absolutely devastating and I experienced first hand the emptiness, guilt and helplessness you feel as a parent. I was so lucky to have The Honeysuckle Charity at the Liverpool Women's Hospital who were there offering support every single step of the way. They put their heart and souls into providing support for families who have experienced miscarriages and neonatal deaths."

Leroy raised a fantastic £3,473.

Thank you Leroy for wanting to support our bereaved families that use our Honeysuckle service.

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Liverpool Women’s Staff – 100km Challenge

Let's hear it for Devender Roberts, Elaine Carden and Kathy Smith for raising an amazing £1,375 for our Oncology Unit.

The three ladies decided to run 100K in 25 days as part of Liverpool Women's Hospital Charity 25 for 25 Challenge.

Thank you, Devender, Elaine and Kathy for this incredible support.

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Darren Sumner

A massive thanks to Darren Sumner who raised an amazing £3,681 for our Neonatal Unit.

Darren was more determined than ever to complete his challenge and his fundraising event in memory of his beautiful granddaughter.

"I can't thank the staff of the NICU enough for everything they did for our little angel. She fought with everything she had for 50 days. Sadly, she just didn't have the strength to see the fight through. To that end I'm dedicating my challenge to her memory with renewed determination. Again I thank everyone who has been so generous in these difficult times. Every penny will make a difference to a life that needs it."

Thank you Darren for this incredible support.

5K Challenge

We would like to give Carly McDonald a massive thank you for completing a 5K Challenge for our Big Tiny Steps Appeal.

Carly wanted to fundraise for our Neonatal Unit after the fantastic care her baby boy, Conor, received at the Liverpool Women's Hospital. Thank you Carly for the welcomed support.

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Emma, Sophie and Tom

We would like to give Emma, Sophie & Tom a very special thank you.

Emma, who is a neonatal nurse here and Sophie, who is a district nurse, wanted to help raise vital funds for our Neonatal Unit in memory of their friend Kayleigh's Baby, Paul.

These three wonderful fundraisers raised a fantastic £5,765.

The money raised will make a significant difference for all families that have to use our neonatal services

Thank you Emma, Sophie and Tom.

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25 for 25 Challenge

Massive thank you to our amazing 25 for 25 Challenge fundraiser, Jess Taylor, who raised an incredible £1,625 for the Neonatal Unit.

Jess undertook the challenge of walking a whopping 25,000 steps each day for 25 days, whatever the weather, to raise money for the care given to babies and families on the unit.

We've loved watching Jess' journey to smash her fundraising target and are so grateful for her support! If you are thinking of taking part in your own 25 for 25 Challenge, please get in touch and join Jess in raising important funds for the hospital.

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20 Half Marathons

A very special thankyou to Deepak, who has raised an incredible £1,110 for our Cancer Research Fund through running twenty half marathons in 2020.

We were humbled when Deepak shared his reasons for choosing to support Liverpool Women's. He said, "I believe we learn and explore every day something new in our lives. Everyday life brings a lot of happiness and takes a lot from you. To have a balance between happiness and sadness is a challenge and to face that challenge is enjoying life.

In every stage of our life, one organisation which has helped and cherished us most at all times is Liverpool Women' Hospital. I believe the facilities, staff and helpfulness at Liverpool Women's is the best in the country. And it will be my honour if I can make some contribution with your help in donating to their Cancer Research Fund."

What a wonderful achievement! Thank you Deepak.

Leanne Wilson

In Memory of Dylan Joshua Wilson

On May 14, Leanne Wilson gave birth to her beautiful son, Dylan Joshua. Despite his bravery, he lived for under 30 minutes.

Leanne was told several times during pregnancy that Dylan was unlikely to make it, but at every turn, every scan, every hospital admission, every time she thought it was all over his incredible heart kept beating. Until it was just too much and he passed away in her arms.

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"I am very proud to be his Mummy. To try and make something positive out of his short life, I would like to raise money for Liverpool Women’s Hospital. Their kindness and care towards me and Dylan, even during these crazy times, will stay with me forever".

Leanne raised an amazing £1,503 to go to the Honeysuckle bereavement team and the delivery suite.

On behalf of all staff and our families that use our services, thank you Leanne for your kindness and support.

Lee Butler

Thank you so much Lee Butler - Radio City for your incredible support for our Neonatal Unit.

For 13 weeks Lee was djing and fundraising for the Liverpool Women's Charity

Thank you so much to everyone who supported Lee. This fundraising was for the Big Tiny Steps Appeal.

How you can get involved

You can get involved with LWH Charity by contacting the team on 0151 702 4044 or email us on fundraising@lwhcharity.nhs.uk

There are so many things you can do:

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Our achievements – what has been made possible

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Our Financial Achievements

£208,000 grants awarded on charitable activities

35% increase in Incoming Resources

£4,000 Hire of Birthing Pool income generated

£5,000 legacy income received

£165,000 gain on unrealised and realised investment

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Our Financial Achievements

Donations and legacies income represents £328,000 and 93% of the total incoming resources enabling us to maintain our charitable activities for the hospital.

Trading activities includes knitting stall income of £1,000 and hire of birthing pools income of £4,000.

Total expenditure of £347,000 during the year included over £208,000 (60%) on charitable activities, which included Staff welfare £155,000, Patient welfare £13,000, Equipment £20,000 and Research £20,000.

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Nominate Liverpool Women's Charity within your company

Many large companies work on a system where employees nominate charities and then the workforce vote as to who will be the winner. If you, or somebody you know, works for a company that chooses a charity of the year, please ask them to nominate Liverpool Women’s Charity and help us continue to enhance our patient experience.

Legacies and in memory offerings

In November 2013 the Charity launched its legacy giving appeal. There has been £5,000 legacy income received in the year. If you are planning to leave a gift to Liverpool Women's Charity in your will, please let us know so we can thank you during your lifetime.

To most people who leave a legacy this will be the largest donation they ever make to a charity, and one that will make a lasting difference to many people, it is indeed your lasting legacies to those you leave behind.

If you would like to know more about leaving a donation in your will please contact Kate Davis on 0151 702 4044 or Nadia Alsafaar on 0151 702 4194 or email fundraising@lwh.nhs.uk. You can also write to Liverpool Women’s Charity, Liverpool Women’s, Crown Street, Liverpool, L8 7SS.

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Volunteers

Our volunteers here at the hospital provide a precious and much appreciated service to patients and their families, staff and visitors to the Liverpool Women’s NHS Foundation Trust.

Some of the activities undertaken by volunteers include:

We have around 300 volunteer knitters who help to raise money for the Neonatal Fund. These volunteers kindly donate their time to knit baby items, which are then sold on our weekly knitting stall in the hospital main reception. During the year the knitting stall raised over £1,000 for the Neonatal Fund.

Donate

“We are extremely grateful for every single donation, no matter how small, because of the benefits it allows us to bring to the patients and families of Liverpool and those who come from further afield” - Liverpool Women's Charity.

Every penny counts and goes towards improving the care provided to patients and their families. By supporting Liverpool Women's Charity, you will help us in a big way and we thank you enormously. Donations give us a reliable and much needed source of funding and help us to prioritise where it is needed the most. There are lots of ways you can donate:

Kate Davis Liverpool Women’s Hospital Charity Liverpool Women’s NHS Foundation Trust Crown Street Liverpool L8 7SS

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How to donate

Via BACS : If you would like to make a donation via BACS, please contact 0151 702 4044 for Liverpool Women's Charity's bank details.

By standing order: If you would like to set up a regular standing order or require any other information regarding charitable funds please contact 0151 702 4044.

Please include the name of your nominated fund with all donations so we can ensure your gift goes towards your chosen cause.

You can also support us by giving your loose change to one of our spinner donation units located in the main reception and restaurant.

The Charity has also set up several SMS text donation services via Just Giving and uses social media to promote this method of donating to the Charity.

The Charity continues to raise money to improve all areas of the hospital.

Newsletter

The newsletter continues to be popular among our supporters and the staff at the Trust. It is filled with inspirational stories of why the Charity means so much to our followers.

If you wish to receive a copy of the newsletter please do not hesitate to contact our fundraising team.

Also please follow us on Facebook www.facebook.com/Liverpool-Womens-Charities

Our future plans

For the coming year we aim to strengthen our current corporate partnerships whilst pursuing new corporate partnerships.

We are aiming to develop a more active pipeline to Trusts and Foundations applications in order to widen our income sources.

We aim to engage, more proactively, with local community organisations in order to encourage support, whilst also raising awareness of the charity and its brand and continue to engage with grateful patients, families and visitors as well as developing relationships with new supporters.

The Corporate Trustee plans to continue the key activities of the Charity, and seek further opportunities to enhance the support offered to the patients and families of Liverpool Women’s NHS Foundation Trust.

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BIG thank you

On behalf of the patients, relatives and staff who have benefitted from improved services due to donations and fundraising, the Corporate Trustee would like to thank all patients and relatives and staff who have made charitable donations or have given your time.

The backing of all of our supporters is fundamental to the success of our charity, and I would like to take this opportunity to thank each and every one of you for your continued support over the last year.

Having read all about us, we invite you to consider supporting the work of our charity. If you would like to know more about how to make a donation please contact either Kate Davis or Nadia Alsafaar, our Charity Fundraisers on 0151 702 4044/4194, and “like” our Facebook page www.facebook.com/Liverpool-WomensCharities for regular news and updates.

Tracy Ellery Chair of the Charitable Funds Committee

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Structure and governance

The Corporate Trustee presents the Charitable Funds Annual Report together with the Financial Statements for the year ended 31st March 2021.

The Charity’s Annual Report and Accounts for the year ended 31st March 2021 have been prepared by the Corporate Trustee in accordance with the accounting policies set out in note 1 to the accounts, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard 102. The Charity’s report and accounts include all the separately established funds for which Liverpool Women's NHS Foundation Trust is the sole beneficiary.

The Charitable Funds are registered as an umbrella charity, in accordance with the Charities Act 2011 using a model Declaration of Trust as approved by the Commission.

Reference and administrative details

The Liverpool Women’s NHS Foundation Charitable Trust is an independent registered charity, which exists to raise, receive, manage and distribute donations for the benefit of the charitable purposes of the Liverpool Women’s NHS Foundation Trust.

As a result of achieving Foundation Trust status in April 2005 the main umbrella charity changed its name from “Liverpool Women’s Hospital Charitable Trust” to “The Liverpool Women's NHS Foundation Charitable Trust”. This name change was approved by the Corporate Trustee on 2nd September 2005 and subsequently approved by the Charity Commission.

The Charity adopted a working name, “Liverpool Women’s Charity”, which was approved by the Charity Commission on 16th September 2009.

The Charity has 11 individual subsidiary registered funds as at the 31st March 2021 (2020:11) and the notes to the accounts distinguish the types of fund held and disclose separately all material funds (note 17).

Charitable funds received by the Charity are accepted, held and administered as funds and property held on trust for charitable purposes relating to the health service. The funds are held in accordance with the National Health Service Act 1977 and the National Health Service and Community Care Act 1990 and these funds are held on trust by the Corporate Body.

The Liverpool Women's NHS Foundation Trust (the NHS Foundation Trust) is the Corporate Trustee of the Charitable Funds governed by the law applicable to Trusts, principally the Trustee Act 2000 and the Charities Act 2011.

Trustee

The Corporate Trustee of the Charity is the Liverpool Women's NHS Foundation Trust and acts through the members of the Board of Directors. The members of the Board of Directors who served during the financial year and those in post as at the 6th January 2022 are set out on pages 29 and 30.

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The Corporate Trustee devolved responsibility for the on-going management of funds to the Charitable Funds Committee, which administers the funds on behalf of the Corporate Trustee.

This Charitable Funds Committee was formed on 8th February 2005. The names of those people who served as agents for the Corporate Trustee, as permitted under regulation 16 of the NHS Trusts (Membership and Procedures) Regulations 1990, are disclosed in the table on pages 29 and 30.

Principal charitable fund advisor to the Board

The Director of Workforce and Marketing of the Liverpool Women’s NHS Foundation Trust, under a scheme of delegated authority approved by the Corporate Trustee, has day to day responsibility for the management of the Charitable Funds.

The Charitable Funds Committee continues to develop the arrangements for delegation to nominated fund holders who manage the funds on an everyday basis.

Structure

The Charity’s unrestricted fund was established using the model declaration of trust, and all funds held on trust as at the date of registration are part of this fund. Subsequent donations and gifts received by the Charity are added to the fund balance. The fund covers a number of designations which have their own objectives and hold donations where a particular area or activity of the hospital was nominated by the donor at the time their donation was made. Whilst their nomination is not binding on the Corporate Trustee, the designated funds reflect these nominations.

The Corporate Trustee fulfils its legal duty by ensuring that funds are spent in accordance with the objectives of each fund and by the use of designated funds the Corporate Trustee respects the wishes of our generous donors.

Designated funds

A list of designated funds held during 2020/21 is set out overleaf:

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----- Start of picture text -----
Women’s
Assisted
Women’s Hospital Conception Liverpool Women’s
Staff Welfare Fund Cancer Charity
Fund Fund
Women’s Hospital
Training & General Purpose
Development Fund
Fund
Liverpool Women’s
Fetal Centre
NHS Foundation Research &
Cytogenetics Development Fund
Fund Charitable Trust
Designated Funds
Neonatal Fund
Reproductive
Medicine
Community Medical Education Fund
Midwifery
Fund
----- End of picture text -----

Reserves policy

Charitable reserves are identified as income which becomes available to the Charity and is to be spent at the Corporate Trustee’s discretion in furtherance of any of the Charity’s objects, but which is not yet spent, committed or designated. At 31 March 2021, the charity held £504,000 (2020: £339,000) in reserves of which £364,000 (2020: £235,000) were held in designated funds leaving £140,000 (2019: £104,000) in free reserves.

The closing charity balances are inclusive of all known and approved commitments, other than the salaried posts of the fundraising team whose costs are currently £100,000 per year. The fundraising costs are apportioned on an average fund basis across all charitable funds and therefore the closing £504,000 balance will cover 5.0 years of these costs. The trustee considers this to be a sufficient to meet fluctuations in donation and expenditure values.

The reserves policy has the objective of ensuring the Charity has sufficient funds available to honour commitments. The Corporate Trustee has a requirement to hold funds in order to support grants which will provide benefits for staff and funding for fixed term salaried posts such as the volunteer manager post.

The Corporate Trustee regularly reviews the level of reserves to ensure that commitments and spending plans are protected against falls in the Charity’s income and investment values. The Corporate Trustee is mindful of the duty towards the Charity’s current and future beneficiaries, and fulfils this responsibility by careful monitoring of expenditure and accessible money to guarantee day-to-day expenditure and ongoing commitments.

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Grant making policy

All grants are made from the Charity’s unrestricted funds – these funds comprise two elements:

The General Purpose Fund - this fund is constituted of gifts received by the Charity where no particular preference as to its expenditure has been expressed by donors.

Designated (Earmarked) Funds – these usually contain donations where a particular part of the hospital, activity or research was nominated by the donor at the time their donation was made. Whilst their nomination is not binding on the Corporate Trustee, the designated funds reflect these nominations.

The designated funds are overseen by fund holders who can make recommendations on how to spend the money within their designated area.

Governance

The Liverpool Women’s NHS Foundation Trust is the sole Corporate Trustee of the Charity. The Corporate Trustee is managed through its Board of Directors (the Board) which consists of executive and non-executive directors. The Board established a committee, known as the Charitable Funds Committee, reporting to the Board. The role of the Committee is to oversee the management of the affairs of the Charitable Fund. This is a delegated duty carried out on behalf of the Corporate Trustee. The role is to ensure that the Charity acts within the terms of its declaration of trust and appropriate legislation, and to provide information to the Audit Committee to enable it to provide assurance to the Board that the Charity is properly governed and well managed across its full range of activities.

The Corporate Trustee executive directors are subject to recruitment by a Remuneration and Nominations Committee whose membership comprises of the Chair, Chief Executive and non-executive directors of the Corporate Trustee. Non-executive directors of the Board are appointed by the Corporate Trustee’s Council of Governors.

The Chair of the Charitable Funds Committee participates in the induction of new board directors and the Chief People Officer and Deputy Chief Executive ensures that board directors are informed of their responsibilities for charitable funds. The Corporate Trustee is kept informed of the discussions of the Charitable Funds Committee through briefings at its Board meetings.

In addition, the Board of the Corporate Trustee keeps the skill and development requirements of its individual directors under review and directors attend training events and meetings, hosted by a variety of external organisations, which provide the opportunity to enhance their skills and knowledge.

Management of funds

Each designated fund has a nominated fund holder(s) who, acting under delegated authority from the Charitable Funds Committee, and supported by detailed procedural instructions, is responsible for ensuring that expenditure is incurred in accordance with the charitable objectives of each fund.

Acting for the Corporate Trustee, the Charitable Funds Committee is responsible for the overall management of the Charitable Fund. The Committee is required to:

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The accounting records and the day-to-day administration of the funds are dealt with by the Liverpool Women’s NHS Foundation Trust’s finance department. The Charitable Funds Committee meets on a quarterly basis and examines all expenditure approved by fund holders.

Risk management

The Corporate Trustee has a duty to identify the risks to which the Charity is exposed, to keep these under review and establish systems to mitigate these risks.

The Charitable Funds Committee believes that the internal control systems in place are sufficiently embedded and that managers and staff are aware of their responsibility for internal control as part of their accountability for achieving objectives.

The Charitable Funds Committee has identified the major risks to the Charity’s objects, commitments and future spending plans and the most significant risk is considered to be the potential losses arising from a fall in the value of investments.

The Charitable Funds Committee has considered this risk carefully and have established procedures to review the investment portfolio regularly, ensuring that the Charity’s investments are spread over a wide and varied portfolio and are not concentrated in one particular investment or commercial sector. The Charitable Funds Committee meets with Investment Managers, monitors performance and receives regular reports on the portfolio.

The Corporate Trustee is mindful of the need to ensure spending plans and firm financial commitments are matched with income.

Partnership working and networks

The role of the Charity in supporting Liverpool Women’s NHS Foundation Trust continues to go from strength to strength and in order to meet our objectives effectively, we have continued to invest in our fundraising activities and our partnerships working with three independent charities. The NHS Foundation Trust is closely associated with two independent charities that are based at the hospital:

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Objectives and strategy

The objectives of the umbrella charity require the Corporate Trustee to hold the fund upon trust and to apply the income and the capital for any charitable purpose or purposes relating to the National Health Service. These wide objectives were agreed with the Charity Commission to give flexibility to allow the Corporate Trustee to use funds without being subject to any specific restriction. In practice, all expenditure has been, and will continue to be, related to services provided by the Liverpool Women's NHS Foundation Trust. Each designated fund has its own charitable objectives in support of the overarching objective of the umbrella charity.

We seek to use the charitable funds to improve the vital care and support we give to our patients and their families. This enables our staff to gain access to training and development activities, to conduct appropriate research and to augment staff welfare, focusing on areas not covered or fully supported by central NHS funds.

Making our vision happen involves all our partners, the Liverpool Women's Hospital League of Friends staff, patients, carers and the community.

Public benefit

The Corporate Trustee has a duty to comply with Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. The Corporate Trustee can confirm that it has fulfilled the public benefit requirement and that this requirement is strongly embedded within the procedures for approving grants and spending plans.

The Charitable Funds Committee, on behalf of the Corporate Trustee, ensures that all grants and spending plans contain identifiable public benefits that are clear and meet the objects of the Charity funds. This is achieved by the Corporate Trustee keeping spending plans under review throughout the year.

A Review of our finances and performance

The net funds held, after taking account of current assets and liabilities, at 31st March 2021 were £504,000 (2020: £339,000). This represents an overall net increase of £165,000 (2020 decrease: £260,000). This arises from an excess of income over expenditure of £5,000 (2020: £184,000 net expenditure) with net gains on investments of £165,000 (2020: £76,000 investment losses).

The net gain on investments of £165,000 (2020: £76,000 investment loss) are comprised of unrealised gains of £141,000 (2020: unrealised loss of £156,000) and realised gains of £19,000 (2020 £80,000).

Review of income

The Charity relies on donations, fundraising events and investment income as the main sources of income. Total incoming resources of £352,000 were higher than those of 2020 (£260,000).

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

25

Liverpool Women's NHS Foundation Charitable Trust

Trustee’s Annual Report

Donations totalling £323,000 (2020: £171,000) were received from grateful patients, their families, friends and other supporters in acknowledgement of the high standard of care provided. Trading activities income of £5,000 (2020: £23,000) includes income from the knitting stall of £1,000 (2020: £14,000)

The Corporate Trustee recognises the importance of the care provided throughout the NHS Foundation Trust and appreciates the donations and kind words from donors.

Legacy income

There was £5,000 of legacy income during the year (2020: £31,000). Legacy income is only accrued when there is a reasonable certainty of receipt. This is based on notifications provided by the representatives of the estates concerned. The Charity’s officers liaise with solicitors to ensure that specific wishes are carried out.

Review of expenditure

From the total resources expended of £347,000 (2020: £444,000), charitable expenditure on direct charitable activity, was £208,000 (2020: £344,000) across a range of programmes.

Fund balances

Fund balances at 31st March 2021 were £504,000 (2020: £339,000).

Gift aid

Gift aid provides a great opportunity for donors to increase the value of their donation to our Charity. Provided the donor is a taxpayer, our Charity can claim from HM Revenue & Customs the basic rate tax paid on the gift. This increases donations by approximately 25%, so a gift of £10.00 is worth £12.50 to our charity.

Investments

For investment purposes the Charity ‘pools’ its individual sub funds available, to maximise the returns on investments, whilst operating in accordance with the Board’s agreed risk appetite. The funds are operated as a single investment fund under an official pooling scheme which was registered with the Charity Commission on 1[st] January 1999.

Investments are managed by Investec Wealth and Management on behalf of the Charity through an approved investment policy which includes an ethical restriction on investments in tobacco. The funds of the Charity are invested in a wide range of investments with the objective of maximising long term returns within a medium risk profile including UK equities and fixed interest securities, overseas equities held via collectives and cash.

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Trustee’s Annual Report

The performance of the fund is reported by Investec Wealth and Management on a quarterly and annual basis against the benchmark set by the Corporate Trustee, the WM Unconstrained Universe, which is widely used by the charity sector. The members of the Charitable Funds Committee meet annually with the Investment Manager to discuss performance and to review the investment strategy. The investment markets remain volatile and the Charity’s investments continue to be actively managed

During the year the Charity’s investment moved to a fund value of £905,000 as at 31[st] March 2021 from £752,000 at 31[st] March 2020. During the year, there were also disposals of investments at carrying value of £295k (2020: £349,000).

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Trustee’s Annual Report

Administrative Details

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Trustee’s Annual Report

Corporate Trustee Board of Directors – Non-Executive Directors


Name
Position held		 Member of
Charitable
Funds
Committee
1ST April 2020 to
31st March 2021
As at 6th January
**2022 **
Non-Executive Directors

Robert Clarke
Chair
No
In post
In post
Phil Huggon Non-Executive
Director, Chair of
Charitable Funds
Committee to the 31st
March 2021		 Yes In post
 Not in post
Tony Okotie Non-Executive
Director, Senior
Independent
Director		 Yes In post In post
Jo Moore Non-Executive
Director, Interim
Chair of
Charitable Funds
Committee from 1st
April 2021 to the 8th
September 2021		 Yes In post
 Not in post
- left on the 8th
September
2021
Ian Knight Non-Executive
Director		 No In post
 Not in post
Susan Milner Non-Executive
Director		 No In post
 In post
Tracy Ellery Non-Executive
Director, Chair of
Charitable Funds
Committee from the
9th September 2021		 No In post
 In post
Louise Martin Non-Executive
Director		 No In post
 In post
Zia Chaudhry Non-Executive
Director		 Yes Not in post In post from
the 1st
December 2021
Gloria Hyatt Non-Executive
Director		 Yes Not in post In post from
the 1st
December 2021
Sarah Walker Non-Executive
Director		 Yes Not in post In post from
the 1st
December 2021

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Trustee’s Annual Report

Corporate Trustee Board of Directors – Executive Directors


Name
Position held		 Member of
Charitable
Funds
Committee
1ST April 2020 to
31st March 2021
As at 6th January

2022
Executive Directors

Kathryn
**Thomson **
Chief Executive
No
In post
In post
Michelle Turner Chief People Officer
& Deputy Chief
Executive		 Yes In post In post – also
became Deputy
Chief Executive
on the 1st July
2021
Andrew
Loughney		 Medical Director and
Deputy Chief
Executive		 No In post
to the 31st
December 2020		 Not In post
Lynn
Greenhalgh		 Medical Director No In post from 4th
January 2021		 In post
Gaynor
Thomason		 Interim Director of
Nursing and
Midwifery		 Yes In post from the
31st March 2020
to the 12th
November 2020
 Not In post
Janet Brennan Acting Director of
Nursing and
Midwifery		 Yes In post from the
13th November
2020 to the 31st
December 2020		 Not In post
Marie Forshaw Director of
Nursing and
Midwifery		 Yes In post from the
from the 4th
January 2021		 In post
Gary Price Director of
Operations		 No In post In post
Jennifer
Hannon		 Chief Finance Officer No In post Not In post – left
on the 30th
September 2021
Eva Horgan Chief Finance Officer Yes Not In post - was
the Deputy Chief
Finance Officer
during this
period
In post from the
1st October
2021

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Statement of Trustee’s responsibilities

The Corporate Trustee is responsible for preparing a Trustee’s Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)

The law applicable to charities in England and Wales requires the Charity Trustee 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 its incoming resources and application of resources, of the Charity for that period.

In preparing the financial statements, the Trustee is required to:

The Corporate Trustee is responsible for keeping proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. It is also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Corporate Trustee is responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Corporate Trustee on the 6[th] January 2022 and signed on its behalf by:

Name: Tracy Ellery

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Independent Examiners Report

I report on the accounts of the charity for the 12 months ended 31 March 2021 which are set out on pages 33 to 50.

Respective responsibilities of trustee’s and examiner

The charity’s trustee is responsible for the preparation of the accounts. The charity’s trustee considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am member of the Institute of Chartered Certified Accountants which is one of the listed bodies. In connection with my examination, no matter has come to my attention:

have not been met; or

Andrew McLaren FCA Independent Examiner Beever and Struthers St George’s House 215-219 Chester Road Manchester M15 4JE

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Statement of Financial Activities for the year ended 31[st] March 2021

Unrestricted Restricted Total Total
Funds Funds Funds Funds
Note 2021 2021 2021 2020
£000 £000 £000 £000
Incoming resources: 4
Income and endowments from:
Donations and legacies 328 0 328 202
Other trading activities 5 0 5 23
Investments 13 19 0 19 35
Other income 0 0 0 0
Total incoming resources 352 0 352 260
Resources expended: 7
Expenditure on:
Raising funds 118 0 118 79
Charitable activities 229 0 229 365
Total resources expended 347 0 347 444
Net expenditure before investment
gains		 5 0 5 (184)
Net (loss) / gain on investments -
unrealised		 12 141 0 141 (156)
Netgains on investments - realised 19 0 19 80
Net (expenditure)/income 165 0 165 (260)
Net movement in funds 165 0 165 (260)
Reconciliation of Funds:
Fund balances brought forward 1st
April		 339 0 339 599
Fund balances carried forward 31~~st~~
March		 504 0 504 339

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Balance Sheet as at 31st March 2021

Unrestricted Total Total
Funds Funds Funds
Note 2021 2021 2020
£000 £000 £000
Fixed assets:
Investments 12 905 905 752
Total fixed assets 905 905 752
Current assets:
Debtors 14 4 4 6
Cash at bank and in hand 15 5 5 57
Total current assets 9 9 63
Liabilities:
Creditors and commitments falling due within one
year		 16 (350) (350) (416)
Creditors and commitments due greater than one
year		 (60) (60) (60)
Total current liabilities (410) (410) (476)
Net current assets/(liabilities) (401) (401) (413)
Total assets less current liabilities 504 504 339
The funds of the charity:
Unrestricted funds 17 504 504 339
Total charity funds 504 504 339

The notes following the primary statements, numbered 1 to 21 form part of these accounts.

The financial statements contained within these accounts were approved by the Board of Directors on the 6[th] January 2022 and signed on its behalf by:

Name: Tracy Ellery Position: Chair of Charitable Funds Committee

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Statement of Cash Flows for the year ended 31st March 2021

Total Total
Funds Funds
Note
2021 2020
£000 £000
Cash flows from operating activities:
Net cash provided by operating activities 18 (78) (394)
Cash flows from investing activities:
Dividends and interest from investments 4 19 35
Proceeds from sale of investments 314 429
Purchase of investments 12 (308) (59)
Net cash provided by/(used in) investing
activities		 25 405
Change in cash and cash equivalents in
the reporting period (53) 11
Cash and cash equivalents at the beginning of
the reporting period 66 55
Total cash and cash equivalents at the end of
the reporting period 19 13 66

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

35

Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts

1. Accounting Policies

1.1 Legal Status

The Liverpool Women’s NHS Foundation Charitable Trust is an unincorporated charity registered with the charity commission. The address is Crown Street, Liverpool, L8 7SS.

1.2 Basis of preparation

The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on July 2014, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The trustee’s consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts. As a result of the COVID-19 pandemic there was a downturn in the financial markets and the Charity incurred an unrealised loss on investments of £156k in the 2019/20 financial year. However, the financial markets have since bounced back and the Charity incurred an unrealised gain on investments in 2020/21 of £141k. The Charity has recently reviewed its Investment policy thoroughly with its Investment advisors Investec Wealth and Management and will continue to monitor and react accordingly to the changes in the financial markets. There was a net increase in the closing fund balance in 2020/21 of £165k from £339k at the 1[st] April 2020 to £504k at the 31[st] March 2021.

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared in sterling which is the functional currency of the entity.

1.3 Funds structure

Unrestricted funds comprise those funds which the Trustee is free to use for any purpose in furtherance of the charitable objects. Restricted funds comprise those funds where the donor has provided for the donation to be spent in furtherance of a specified charitable purpose. The funds held are disclosed in note 17.

1.4 Incoming resources

All incoming resources are recognised once the Charity has entitlement to the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.

1.5 Incoming resources from legacies

Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy is probable. Receipt is probable when:

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

If there is uncertainty as to the amount of the legacy and it cannot be reliably estimated then the legacy is shown as a contingent asset until all of the conditions for income recognition are met.

1.6 Resources expended and irrecoverable VAT

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to each category of expense shown in the Statement of Financial Activities. Expenditure is recognised when the following criteria are met:

Grants payable are payments made to the Liverpool Women’s NHS Foundation Trust which is classed as a related party, in furtherance of the charitable objectives of the funds held on trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the oneyear or multi-year grant.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

1.7 Allocation of support costs

Support costs are those costs which do not relate directly to a single activity. These include some staff costs, costs of administration and independent examination costs. The analysis of support costs and the bases of apportionment applied are shown in note 7.

1.8 Fundraising costs

The costs of generating funds are those costs attributable to generating income for the charity, other than those costs incurred in undertaking charitable activities or the costs incurred in undertaking trading activities in furtherance of the charity’s objectives. The costs of generating funds represent fundraising costs together with investment management fees. Fundraising costs include expenses for fundraising activities and a fee paid to related party, Liverpool Women’s NHS Foundation Trust, which is used to cover the costs of the hospital’s fundraising office salaries and overheads.

1.9 Charitable activities

Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the Charity. These costs comprise direct costs and an apportionment of overhead and support costs as shown in note 7.

1.10 Governance costs

Governance costs comprise all costs incurred in the governance of the charity. These costs include costs related to the independent accounts examination.

1.11 Fixed asset investments

Investments are a form of basic financial instrument. Fixed asset investments are initially recognised at their transaction value and are subsequently measured at their fair (market value) as at the balance sheet date. The statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares are included in the Balance Sheet at the current market value quoted by the investment analyst.

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk and changes in settlement concerning equities and within particular sectors or sub sectors. Further information on the investments can be found in note 12.

1.12 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later).

1.13 Pensions

The Charity is a grant making charity and has no employees.

1.14 Debtors

Debtors are amounts owed to the charity. They are measured at transaction price, less any impairment.

1.15 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.16 Creditors

Amounts owed to group companies due within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid. All other creditors are measured at transaction price.

1.17 Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the Statement of Financial Activities.

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Notes to the accounts continued

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Financial Activities immediately.

Any reversals of impairment are recognised in the Statement of Financial Activities immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2. Related party transactions

The Corporate Trustee of the Liverpool Women’s NHS Foundation Charitable Trust (the Charity) is the Liverpool Women’s NHS Foundation Trust (the Trust). The Charity delivers its charitable objectives by making grants to the Trust. Grants made to the Trust in the year were £208,000 (2020: £344,000).

The amount owed to the Trust as at 31 March 2021 was £159,000 (2020: £124,000) (see note 16). During the year the Charity made a payment of £390,000 (2020 £375,000) to the Trust.

None of the members of the Trust Board, Charitable Funds Committee, senior Trust staff, or parties related to them were beneficiaries of the Charity, and none of these individuals have undertaken any transactions with the Charity during the year.

The Charity employed no direct employees during the year to 31st March 2021 (2020: none). During the year the Trust recharged £100,000 fundraising salary costs (2020: £63,000) to the Charity.

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

3. Purposes of unrestricted and material designated funds

The purposes of unrestricted and material designated funds are:

Fund Purpose
The Women’s Hospital
General Purpose Fund		 Any charitable purpose(s) relating to the NHS wholly or mainly for the
Liverpool Women’s Hospital.
Liverpool Women’s Cancer
Charity		 To further the advancement of scientific and medical education and research
into topics related to cancer research.
Community Midwifery Promoting the efficient performance of their duties by the midwives of the
NHS Foundation Trust.
Reproductive Medicine Fund To further the advancement of scientific and medical education and research
into topics related to infertility, miscarriage and menopause.
Medical Education Fund To further the advancement of scientific and medical education and research
into topics related to the field of obstetrics and gynaecology.
Fetal Centre Research and
Development		 The investigation into causes of sickness in the unborn child and the
prevention, treatment, cure and defeat of this sickness.
Neonatal Fund The investigation into the causes of sickness in the newborn child and the
prevention, treatment, cure and defeat of this sickness and to further the
cause of premature newborn babies at the NHS Foundation Trust and to
further the advancement of scientific and medical education and research
into topics related to sickness in the newborn child.

Other Funds:

Fund Purpose
Women’s
Hospital
Staff
Welfare Fund		 For the relief of sickness by promoting the efficient performance of their duties
bythe staff of the Liverpool Women’s Hospital.
Training and Development
Fund		 To further the advancement of scientific and medical education and research
into topics relating to pregnancy and problems associated with giving birth
andgynaecologicalproblems.
Women’s Assisted
Conception Fund		 To further the advancement of scientific and medical education into topics
related to infertilityin women.
Cytogenetics Fund To further the advancement of scientific and medical education and research
into topics related to cytogenetics.

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

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Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

4. Analysis of income

2021
2021
2021
2020
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
£000
£000
£000
£000
Donations and legacies:
Donations and gifts
Legacies
Total donations and legacies
Other trading activities:
Stall income
Hire of birthing pools
Fundraising events
Total other trading activities
Income from investments:
Dividend income
Total income from investments
Other income:
Total other income		 323
0
323
171
5
0
5
31
328
0
328
202
1
0
1
14
4
0
4
4
0
0
0
5
5
0
5
23
19
0
19
35
19
0
19
35
0
0
0
0
0
0
0
0
Total Income 352
0
352
260

5. Donated Goods

All income in the prior year was unrestricted

2021 2021 2021 2020
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£000 £000 £000 £000
Included within other trading
activities:
Sale of donated items 1 0 1 14
Total stall income included within
other trading activities 1 0 1 14

Donated knitted items for resale are not recognised on receipt. Instead the value to the charity of the donated goods sold is recognised as income when sold. The proceeds of sale are categorised as “Income from other trading activities” in the Statement of Financial Activities and included within the stall income of £1,000.

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Notes to the accounts continued

6. Role of volunteers

The Charity is reliant on a team of volunteers who perform two main roles:

7. Allocation of support costs and overheads

All financial services costs provided by the Liverpool Women's NHS Foundation Trust have been treated as support costs and Independent examination fees have been treated as governance costs. Both support costs and governance costs have been apportioned across charitable activities expenditure proportionate to the expenditure level.

7.1 Support & Governance Costs

2021 2021 2021 2020
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£000 £000 £000 £000
Support Costs:Financial Services
provided by Liverpool Women's NHS 19 0 19 19
Foundation Trust
Governance Costs:Independent
Examination Fees		 2 0 2 2
Total 21 0 21 21

The Trustee does not receive any remuneration nor were any expenses paid to the Trustee in the year ending 31 March 2021 or the preceding financial year.

7.2 Apportionment of Support & Governance Costs across Charitable Activities

Charitable Activities
2021 2021 2021 2021 2021 2020
Patient
welfare		 Staff
welfare		 Equipment Research Total Total
£000 £000 £000 £000 £000 £000
Support Costs:Financial
Services provided by Liverpool 1 14 2 2 19 19
Women's NHS Foundation Trust
Governance Costs:
Independent Examination Fees		 0 2 0 0 2 2
Total 1 16 2 2 21 21

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Notes to the accounts continued

7.3 Analysis of expenditure

Expenditure on raising funds:
Staging fundraising events
Fundraising managers
Investment management costs
Total expenditure on raising
funds
Expenditure on charitable
activities:
Patient welfare
Staff welfare
Equipment
Research
Total expenditure on charitable
activities		 2021
2021
2021
2021
2020
Unrestricted Unrestricted Restricted
Total
Total
Funds
Funds
Funds
Support &
Governance
Costs
£000
£000
£000
£000
£000
10
0
0
10
5
100
0
0
100
63
8
0
0
8
11
118
0
0
118
79
13
1
0
14
45
155
16
0
171
0
20
2
0
22
286
20
2
0
22
34
208
21
0
229
365
Total Expenditure 326
21
0
347
444

Overhead and support costs including governance costs, volunteer costs, fundraising costs, finance and independent examination fees have been apportioned across charitable activities on the basis of the value of the fund. The expenditure above includes released commitments, which has thereby reduced current year expenditure in comparison with the prior year in the following categories; fundraising managers £4k, Patient Welfare £17k, Staff welfare £1k, Equipment £7k and Research £8k.

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Notes to the accounts continued

8. Independent examination and audit fees

2021 2021 2021 2020
Unrestricted Restricted Total Total
Funds Funds
£000 £000 £000 £000
Fees for examination of the
accounts:
Independent examiner’s fees 2 - 2 2
Total fees 2 0 2 2

The Independent examination fee is shown in the above note excluding VAT in accordance with guidance, however, the VAT element is not recoverable making the overall Governance costs £2k as shown in note 7.1.

9. Analysis of staff costs

The Charity did not directly employ any staff during 2020/21 (2019/20: nil).

The Charity instead received services from the Liverpool Women’s NHS Foundation Trust, for example financial services and fundraising for which a recharge is made by the Trust to the Charity.

10. Analysis of grants

The Charity does not make grants to individuals or third parties. All grants are made to the Liverpool Women's NHS Foundation Trust to provide for the care of our NHS patients in the furtherance of our charitable aims. The total cost of making grants, including support costs, is disclosed on the face of the Statement of Financial Activities. The standing orders and standing financial instructions of the NHS Foundation Trust include the directions of the Trustee for the management of charitable funds and recognise that management processes may overlap with those of the NHS Foundation Trust.

The Trustee operates a scheme of delegation for the majority of charitable funds, under which fund holders manage the day to day disbursements on their projects in accordance with the standing orders and standing financial instructions of the NHS Foundation Trust. Please refer to the Trustee’s Annual report to the Account for additional information on the grant making activities performed during the year to 31st March 2021.

11. Transfers between funds

There were no transfers between funds during 2020/21 (2019/20: £nil).

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Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

12. Fixed asset investments

12. Fixed asset investments
2021 2020
Movement in fixed asset investment Total Total
£000 £000
Market Value brought forward 743 1,189
Add: additions to investment at cost 308 59
Less: disposals at carrying value (295) (349)
Add: net (loss) / gain on revaluation -
unrealised 141 (156)
Market Value as at 31 March 897 743
Cash held as part of investment
portfolio 8 9
Total investment value as at 31
March		 905 752
Historic Cost as at 31 March 649 638
2021 2020
Fixed asset investments by type Total Total
£000 £000
Investments listed on a recognised
Stock Exchange:
UK Equities 343 331
European equities 35 25
North American equities 207 121
Japanese equities 16 17
Far East and Australasian equities 30 19
Emerging economies 21 7
International equities 13 8
Property 43 53
Alternative Assets 51 31
Other investments:
UK fixed interest 121 131
Overseas Fixed Interest 17 0
Cash held as part of the investment
portfolio		 8 9
Total fixed asset investments 905 752

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

45

Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

13. Total gross income from investments and cash on deposit

2021 2020
Total Total

£000		 £000
Investments listed on a recognised Stock Exchange:
UK Equities 15 22
European equities 0 1
Overseas and emerging equities 1 2
Other investments:
UK fixed interest 2 6
UK Property
0		 3
Alternative Assets
1		 1
Total
19		 35

14. Analysis of current assets

2021 2020
Total Total

£000		 £000
Debtors under one year
Investment income receivable
4		 6
Total
4		 6

15. Analysis of cash and deposits

2021 2020
Total Total

£000		 £000
Short term investments and deposits 4 51
Cash at bank and in hand
1		 6
Total
5		 57

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

46

Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

16. Analysis of liabilities and commitments

2021 2020
Total Total
£000 £000
Creditors & commitments under
one year
Amounts due to Liverpool Women’s
NHS Foundation Trust 156 122
Commitments 192 292
Other accruals 2 2
Total 350 416
2021 2020
Total Total
£000 £000
Creditors & commitments over one
year
Commitments 60 60
Total 60 60

Amounts owed to Liverpool Women’s NHS Foundation Trust relates to grants paid out by the Trust on behalf of the Charity.

Movements in funding commitments during the period

2021 2020
Total Total
£000 £000
Balance at the start of the reporting period 352 342
Amounts added in current period 242 383
Amounts charged against commitments in the current period (305) (320)
Unused amounts reversed during the period (37) (53)
Balance at the end of the reporting period 252 352

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

47

Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

17. Unrestricted funds

Analysis of unrestricted and Funds
brought
forward at		 Incoming
resources		 Resources
expended		 Gain on
investments		 Funds
carried
forward
at
material designated funds 01-Apr-20 31-Mar-21
£000 £000 £000 £000 £000
General Purpose 104 42 (49) 43 140
Liverpool Women’s Cancer Charity 62 6 (17) 23 74
Community Midwifery 25 6 (8) 11 34
Reproductive Medicine Fund 2 0 (1) 1 2
Medical Education 47 2 (14) 16 51
Fetal Centre Research &
Development Fund		 41 3 (10) 16 50
Neonatal Fund 33 139 (89) 39 122
Other Funds 25 154 (159) 11 31
Total 339 352 (347) 160 504
Analysis of unrestricted and Funds
brought
forward at		 Incoming
resources		 Resources
expended		 Loss on
investments		 Funds
carried
forward
at
material designated funds 01-Apr-19 31-Mar-20
£000 £000 £000 £000 £000
General Purpose 105 85 (64) (22) 104
Liverpool Women’s Cancer Charity 88 7 (20) (13) 62
Community Midwifery 33 6 (9) (5) 25
Reproductive Medicine Fund 5 0 (2) (1) 2
Medical Education 67 5 (14) (11) 47
Fetal Centre Research &
Development Fund		 53 20 (23) (9) 41
Neonatal Fund 231 109 (300) (7) 33
Other Funds 17 28 (12) (8) 25
Total 599 260 (444) (76) 339

The purposes of the funds are given in note 3.

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

48

Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

18. Reconciliation of net movement in funds to net cash flow from operating activities

2021 2020
Total Total
£000 £000
Net movement in funds 5 (184)
Adjustments for:
Dividends and interest on investments (19) (35)
(Increase) / decrease in debtors 2 1
Increase /(decrease)in creditors (66) (176)
Total (78) (394)

19. Analysis of cash and cash equivalents

19. Analysis of cash and cash equivalents
2021 2020
Total Total
£000 £000
Cash and deposits:
Short term investments and deposits 4 51
Cash in hand 1 6
5 57
Cash held as part of the investment
portfolio		 8 9
13 66

20. Net Debt

20. Net Debt
2020/21: At 1 April
2020		 Cashflows At 31
March
2021
£000 £000 £000
Cash and deposits 66 (53) 13
Loans due within oneyear (122) (34) (156)
Total (56) (87) (143)
2019/20: At 1 April
2019		 Cashflows At 31
March
2020
£000 £000 £000
Cash and deposits 55 11 66
Loans due within oneyear (306) 184 (122)
Total (251) 195 (56)

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

49

Liverpool Women's NHS Foundation Charitable Trust

Notes to the accounts continued

21. Statement of Financial Activities for the year ended 31st March 2020

The below is the prior years' Statement of Financial Activities for the year ended 31st March 2020, which is shown for comparative purposes:

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2020 2020 2020 2019
£0 £0 £0 £0
Incoming resources:
Income and endowments from:
Donations and legacies 202 0 202 174
Other trading activities 23 0 23 45
Investments 35 0 35 36
Other income 0 0 0 -
Total incoming resources 260 0 260 255
Resources expended:
Expenditure on:
Raising funds 79 0 79 165
Charitable activities 365 0 365 221
Total resources expended 444 0 444 386
Net expenditure before investment
gains		 (184) 0 (184) (131)
Net gains on investments - unrealised (156) 0 (156) 24
Net gains on investments - realised 80 0 80 31
Net (expenditure)/income (260) 0 (260) (76)
Extraordinary items 0 0 0 0
Net movement in funds (260) 0 (260) (76)
Reconciliation of Funds:
Fund balances brought forward 1st
April		 599 0 599 675
Fund balances carried forward 31st
March		 339 0 339 599

Trustee’s Annual Report and Accounts for the year ended 31[st] March 2021

50