Mid Cheshire Hospitals Charity
Annual Report and Financial Statements for Mid Cheshire Hospitals Charitable Fund
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Registered Charity no. 1049008
For the financial year ended 31 March 2025
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FUNDRAISING REGULATOR
Mid Cheshire Hospitals NHS Foundation Trust
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Mid Cheshire Hospitals Charitable Fund
Report of the Trustees of Mid Cheshire Hospitals Charitable Fund for the year ended 31°t March 2025
The Trustee’s present their annual report and the audited financial statements of the Mid Cheshire Hospitals Charitable Fund (referred to as “the Charity”) for the year ended 31°t March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and to comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102,’The Financial Reporting Standard applicable to the UK and Republic of Ireland’.
The charity is affiliated to Mid Cheshire Hospitals NHS Foundation Trust, Leighton Hospital, Middlewich Road, Crewe, Cheshire, CW1 4QJ which provides NHS acute and community healthcare to the local health economy. The Corporate board of Mid Cheshire Hospitals NHS Foundation Trust acts as the Trustee of the charity. Copies of the full Annual Report and Accounts for Mid Cheshire Hospitals can be obtained from the Trust website or from the Communications Office, Leighton Hospital, Middlewich Road, Crewe, Cheshire, CW1 4Q)J.
Objectives and Activities for the public benefit
MCH Charity fundraises to enhance the excellent work of Mid Cheshire Hospitals NHS Foundation Trust and to support our community. We grant funds which pay for things considered over and above basic NHS provision and which improve care and experience for patients and support staff wellbeing.
Our funds help to provide state-of-the-art equipment, new facilities, art and all the added extras that make people’s experience at our hospitals and in our community services the best it can be. The Trustees confirm that they have referred to the Charity Commission guidance on public benefit when reviewing the aims and objectives, in planning future activities, and reviewing spending plans throughout the year.
The main objectives for the year ended 31 March 2025 were to continue raising funds to provide items and services to support patients and their loved ones through our End of Life Care Appeal.
To support development of the charity a project was launched to re-brand the charity and to introduce new ways to raise the profile of the charity both externally and internally. This project was funded through a Development Grant from NHS Charities Together.
All spending made via the charity must have a demonstrable link to the benefit made to patient care or experience, or to the wellbeing of staff and volunteers.
The charity has not made any financial grants directly to any organisation during this financial period. The charity purchases agreed goods or services and donates them to Mid Cheshire Hospitals NHS Foundation Trust for their exclusive use and benefit, and higher value items are treated as donated assets within the accounts of Mid Cheshire Hospitals NHS Foundation Trust.
Achievements and performance
The total income for the year was £578,000 (2023/24: £881,000), which was a decrease on the previous year, mainly due to Donations in Kind received. Expenditure for the year has totalled £818,000 (2023/24: £875,000)
A new trial of a complementary therapy service delivered in partnership with St Luke’s Hospice to support people during their final days, who are choosing to die at home was launched in April 2024 with £20,000 that had been raised by local business Cheerbrook Farm Shop. Due to the success of the trial, the charity launched a campaign at the start of 2025 to continue funding the service for further six months. The
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campaign received huge support both from community-based NHS teams and from families who had benefitted from the service. By March 2025 over £6,500 had been raised to enable the continuation of the service throughout 2025.
Following on from the successful appeal to raise funds for the Victoria Infirmary children’s waiting room a launch event was held in September 2024. Groups and individuals who had supported the appeal attended the event and children from a local school which fundraised for the room cut the ribbon to officially open it.
Throughout the period monies raised through the End-of-Life Care Appeal funded items including £20,000 to purchase 16 sleeper chairs for loved ones staying with a patient during their final days, memory making items, memory boxes, phase two of the mortuary refurbishment and further grants for comfort packs. Since February 2024 £105,536 has been raised for the appeal.
The charity provided funding for a SWAN Volunteer Co-ordinator post. SWAN volunteers spend time with patients during end-of-life care to offer comfort and support, either to those who don’t have family able to visit, or to give a much-needed break to loved ones who are staying with a relative at the hospital. The service has been extremely well received by patients, ward staff and from the families who have benefitted from it. At the start of 2025 the service was nominated by the Anne Robson Trust for the ‘Best Not for Profit Working in Partnership with the NHS’ HSJ award and was announced as one of the finalists in the category.
The charity supported many fundraisers throughout the year including a team of Stroke Therapy staff who wanted to purchase a high-tech piece of rehabilitation kit for their patients. With support from the charity the team held a 24-hour cycle ride at Leighton Hospital which raised £5,000 for the equipment. Teams from across the Trust got involved in other activities for various appeals including the Northwich Dragon Boat Race, half and full marathons, Born Survivor, NHS Big Tea Day and the charity’s own All Our Hearts Day and Christmas activities.
Through a new fundraising initiative called Light Up Leighton, corporate supporters raised £10,000 by agreeing to sponsor Christmas lights within the courtyards at Leighton Hospital. The 2024 Christmas campaign was the charity’s most successful to date, raising £20,000 for several funds.
Clinical kit approved for grants from the charity included a LUCAS Device (£12k) to support with effective CPR within the hospital setting, FEES (Fibreoptic Endoscopic Evaluation of Swallow) kit for the Speech and Language Team (£5k), three Kanmed beds (£14.5k) for enhanced care of babies in NICU, and a C-Arm X-Ray machine (£100k) which provides advanced imaging technology and was funded through legacies received for the benefit of Urology and Cardiac patients.
The charity funded Arts Programme continues to grow and develop, delivering several projects across its three main strands (environment, patient experience, and staff wellbeing) throughout the year. Highlights include the installation of artwork which includes poems created by staff at Victoria Infirmary and at Leighton Hospitals as the final part of our involvement in the ‘Our National Health Stories’ project. The project aimed to tell the stories of staff from 19 Trusts in recognition of 75 years of the NHS.
The externally grant funded Musicians in Residence project was delivered in partnership with Live Music Now and focussed on three areas within the hospital: Chemotherapy Unit, Children’s Ward, and Stroke Ward (Therapy rehabilitation team). As well as the positive impact this had on patients, it also resulted in five members of NHS staff achieving a Badge of Excellence in ‘Use of Music in Care and Health’ as part of the project. Staff wellbeing projects included offering origami making sessions and packs at Christmas time
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and a project which was part funded through NHS Green Libraries grant called Reflections on Nature: Rest. Recharge. Reflect. This was delivered within courtyards at Leighton in partnership with Wild Rumpus to engage staff with our charity funded outdoor spaces in new ways.
Financial Review
By the end of March 2025, the Charity held funds to the value of £813,000 (2023/24: £1,045,000). The fund balance will ensure that wards and departments can continue to fund the extra benefits for patients for the forthcoming year.
A grant of £10,000 was received from the NHS Charities Together during 2024/25 which was for the development of a digital marketing programme. The building work at the Paediatric waiting are at Victora Infirmary was completed and significant improvements have been made to patient experience such as the Complementary Therapies project in the community to provide treatments such as reflexology to end of life patients and also their carers.
The Charity has no permanent endowments, so funds are available to spend at the discretion of the Trustee. The Charitable Committee encourages funds to be spent within reasonable timescales — ideally within two years of the donation receipt. Fund managers are approached on an annual basis for spending plans which are checked against the public benefit criteria. The Charity aims to maintain one year’s worth of normal expenditure as its reserve, which is in the region of £250,000. In arriving at the appropriate level of reserves, the financial risks facing the Charity, likely future expenditure (based on historic evidence) and the level of existing funds have all been considered by the Trustee and will continue to be monitored throughout the next accounting period.
The clinical divisions have all participated in the management of funds with boards including discussions on the usage of funds within Divisional Board meetings and developing divisional spending and fundraising plans.
An on-going risk that the Charity is exposed to is the fall in the value of investments held on the stock exchange. These have been carefully considered and are reviewed by our investment advisors and the Charity Trustee Sub-Committee. The value of the investments saw an increase in value at the end of March 2025. Markets strengthened throughout the year, with Investment values leaving the portfolio with unrealised gains of £51,000 (2024/25: 44,000)). A cautious approach has been taken by our Investment Advisors, which has attempted to maintain income and protected capital. The Trustees will monitor the investment value to ensure that funds have sufficient cash available to meet needs. Future falls in investment values may require a spending moratorium to be introduced to protect public donations now being received.
The material funding for the period has come mainly from generous donations from the public during 2024/25 with fundraising support for our appeals during that period. Legacies continue to be a valuable resource for the Charity and the Trustees would encourage local users of our services to think about leaving a legacy in their will to ensure that we can continue to provide better care and facilities for our patients.
Plans for the Future
Over the next 12 months the charity will focus on supporting teams to fundraise for specific projects. One such project is to work with a special school-based Speech and Language Team to purchase two Eye Gaze machines. This high-tech specialist kit enables non-verbal children to communicate with teachers, therapists and their family and friends to tell them what they want, like or don’t like and how they are feeling. Work will also continue to support End of Life care projects both within the hospital setting and for
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community-based NHS services, which includes funding improvements to rooms and spaces where people receive difficult news, or relatives’ rooms.
New outside spaces will be developed and opened for use throughout 2025/26 including a dementia friendly garden for Ward 4 and other sensitively created spaces for Urology Out-Patients and Critical Care Unit.
Planned art projects for the year ahead include environmental projects for Urology Out-Patients and Ward 28 specifically to focus on enhancing the care of patients on the ERAS (Enhanced Recovery After Surgery) pathway. Work will also start on developing an Arts Strategy in partnership with the Healthier Futures team to ensure that co-created professionally developed and delivered art is at the heart of the new Leighton Hospital. Work will also focus on applying for external grant funding to deliver music projects for patients and creative workshops for NHS staff facing burnout.
Structure, Governance and Management
The main recipient of funds raised by Mid Cheshire Hospitals Charitable Fund is Mid Cheshire Hospitals NHS Foundation Trust for the benefit of its patlents and staff.
The Mid Cheshire Hospitals Charitable Fund was created by Trust Deed as a governing document and is registered with the Charity Commission as the main umbrella charity for Leighton Hospital and Victoria Infirmary, Northwich (registered number 1049008). This was entered on the Central Register of Charities on 5 September 1995.
There are 3 active subsidiary unrestricted charities registered under the main umbrella charity which are:
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e Leighton Hospital General Fund — for charitable purposes relating to the NHS
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e Victoria Hospital General Fund — for general charitable purposes relating to the NHS; e Cancer Fund-—For the prevention, treatment and cure of cancer, the relief of suffering and research and education.
Charitable funds received by the charity are accepted, held and administered as funds and property held on trust by the corporate body for purposes relating to the health service in accordance with the National Health Service Act 1977 and the National Health Service and Community Care Act 1990.
The board of Mid Cheshire Hospitals NHS Foundation Trust acts as Corporate Trustee for the Charity and meets independently twice a year. Non-Executive members of the Trust Board have been appointed by the Council of Governors in accordance with the Constitution of the NHS Foundation Trust, and Executive members of the Board are subject to recruitment by the NHS Foundation Trust Board. All Board Members undertake a Trust Induction programme upon appointment. All Board members receive regular updated information from the charity Commission regarding their role as Trustees. Members of the Trust Board and the Charitable Funds Committee do not act as individual Trustees.
The Corporate Trustee fulfils its legal duty by ensuring that funds are spent in accordance with the objects of each fund and the Trustee respects the wishes of our generous donors to benefit patient care and advance the good health and welfare of patients, carers, and staff. The Trustee involves each Division, ward and department in fundraising and decisions regarding the expenditure of charitable monies.
The Corporate Trustee has delegated duties to a Charities Committee who advise and assist the Corporate Trustee through:
- e The control, management and monitoring of the use of the fund resources e Approval of all expenditure
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Mid Cheshire Hospitals Charitable Fund
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e Providing support, guidance and encouragement for all its income raising activities
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e Ensuring that “best practice” is followed in conduct of all its affairs and fulfilling all of its legal responsibilities including ensuring that the use of funds meets the Public Benefit Requirement set out by the Charities Commission
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e Ensuring that the approved Investment Policy is adhered to and that performance is continually reviewed whilst being aware of ethical considerations
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e Keeping the Trust Board fully informed on the activity, performance and the risks of the Charity
No payments are made to any individual on the basis of their membership of the Corporate Trustee or the Charities Committee.
Reference and Administrative Details
The Charity is registered with the Charity Commission of England and Wales, registration number 1049008. The charity is a Public Benefit Entity, and the trustees can confirm that they have regard to the Charity Commission’s guidance on public benefit.
The Corporate Board acting as Trustee had the following members who served during the period 1° April 2024 to 31°t March 2025:
| Mrs Megan Nurse | - | Trust Chairman (from 6 January 2025) |
|---|---|---|
| ProfCarolyn Wilkins OBE | - | Trust Chair (until 2 August 2024) |
| Mrs Lesley Massey | - | Non-Executive Director/Deputy Chair |
| Mrs Lorraine Butcher | - | Non-Executive (until 31%t July 2024) |
| MrAndyVernon | - | Non-Executive |
| MrAnthony Bristlin | - | Non-Executive |
| DrAndrew Wilson | - | Non-Executive |
| MrTony Okotie | - | Non-Executive (from 1°tAugust 2024) |
| MrTerry Whalley | - | Non-Executive (from 1st August 2024) |
| Mrs Diana Hampson | - | Non-Executive (from 11th September 2024) |
| Mr lan Moston | - | Chief Executive Officer |
| Mr Russ Favager | - | Board SRO NHP & Estates Re-development |
| Mrs Claire Liddy | - | Chief Financial Officer |
| Mrs Nicola Price | - | Chief People Officer |
| Mr Scott Malton | - | Chief Nursing Officer |
| Mrs Denise Frodsham | - | Director ofStrategic Partnerships |
| Ms Nicola Costin-Davis | - | Chief Operating Officer |
| Mrs Clare Hammell | - | Medical Director & Deputy CEO |
| Mr Dylan Williams | - | Chief Information Officer |
| Ms Laura Egerton | - | Acting Chief Nursing Officer (15t January 2025 to 31% |
| March2025) |
All are voting members of the Corporate Board.
The membership of the Charities Committee for the period 1° April 2024 to 315t March 2025 is as follows:
Mr Andy Vernon - Non-Executive (Chair until September 2024) Mr Tony Okotie - Non-Executive (Chair from October 2024) Mrs Clare Liddy - Chief Finance Officer Mrs S Edge - Interim Chief People Officer (from 1.11.24 to 7.1.25) Mrs Nicola Price - Chief People Officer
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Meeting of the Charities Committee during 2024/25 were also attended by:
Mr Duncan Goff - Representing Director of Finance Ms Caroline Birch - Financial Accountant Mrs Emma Robertson - Head of MCH Charity Mrs Deborah Riding - Arts Manager Mrs Talitha Palmer Roberts - Marketing and Communications Lead
The Chief Finance Officer of Mid Cheshire Hospitals NHS Foundation Trust, Mrs Clare Liddy, acts as Principal Advisor to the Corporate Trustee and as Principal Officer for the day-to-day management.
The principal office for the Charity is Finance Department, Mid Cheshire Hospitals NHS Foundation Trust, Leighton Hospital, Middlewich Road, Crewe, Cheshire, CW1 4QJ.
The Bankers for the Charity are Barclays Bank, Colmore Row, Birmingham, B3 2WN.
The Principal Solicitors for the Charity are Hill Dickinson LLP, No 1 St Paul’s Square, Liverpool, L3 9SJ.
The Investment Managers advising the Charity are Atomos Investments Ltd, Stafford Court, 145 Washway Road, Sale, M33 7PE.
The Independent Examiners for the purposes of section 149 of the Charities Act 2011 are Voisey & Co LLP, Chartered Accountants, 8 Winmarleigh Street, Warrington, Cheshire, WA1 1JW
And Finally
On behalf of the staff and patients who have benefited from improvements due to donations or legacies, the Trustee would like to thank all patients, relatives, staff, and members of the community who have made charitable donations to Mid Cheshire Hospitals Charitable Fund, and hope that you will continue to support the Charity in the future.
Approved on behalf of the Corporate Trustees
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Claire Liddy, Chief Financial Officer & Trustee
Megan Nurse, Chair & Trustee
25 September 2025
25 September 2025
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Mid Cheshire Hospitals Charitable Fund
Independent Examiner’s report to the Trustees of Mid Cheshire Hospitals Charitable Fund (Registered Number : 1049008
| report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2011 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
| 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.
4 Adimeton
Jonathan Urmston ACA
Voisey & Co LLP, Chartered Accountants
8 Winmarleigh Street
Warrington, Cheshire WA1 1JW
esses Ot October... 2025
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Mid Cheshire Hospitals Charitable Fund
Annual Accounts 2024/25
Statement of Trustees’ responsibilities in respect of the Trustees’ annual report and the financial statements
Under charity law, the trustees are responsible for preparing a Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. The trustees are required to prepare the financial statements in accordance with UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period.
In preparing these financial statements, generally accepted accounting practice entails that the trustees:
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e select suitable accounting policies and then apply them consistently;
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e make judgements and estimates that are reasonable and prudent;
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e state whether applicable UK Accounting Standards and the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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e state whether the financial statements comply with the trust deed and rules, subject to any material departures disclosed and explained in the financial statements;
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e assess the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
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e use the going concern basis of accounting unless they either intend to liquidate the charity or to cease operations or have no realistic alternative but to do so.
The trustees are required to act in accordance with the trust deed and the rules of the charity, within the framework of trust law. They are responsible for keeping accounting records which are sufficient to show and explain the charity’s transactions and disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the trustees to ensure that, where any statements of accounts are prepared by them under section 132(1) of the Charities Act 2011, those statements of accounts comply with the requirements of regulations under that provision. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the financial and other information included on the charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Signed on behalf of the Corporate Trustees
Claire Liddy, Chief Financial Officer & Trustee 25 September 2025
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OG ee
Megan Nurse, Chair & Trustee
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25 September 2025
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Mid Cheshire Hospitals Charitable Fund
~~Balance Sheet for period ended 31st March 2025~~
| 2024/25 | 2023/24 | |||||
|---|---|---|---|---|---|---|
| Unrestricted — Restricted | Total | Unrestricted | Restricted | Total | ||
| ‘000 | ‘000 | ‘000 | ‘000 | ‘000 | ‘000 | |
| Fixed Assets | ||||||
| Investments (Note 7) | 720 | - | 720 | 688 | - | 688 |
| Total fixed assets | 720 | - | 720 | 688 | - | 688 |
| Current Assets | ||||||
| Debtors (Note 9) | 178 | - | 178 | 2 | - | 2 |
| Cash at Bank (Note 8) | 76 | 56 | 132 | 270 | 106 | 376 |
| Total current assets | 254 | 56 | 310 | 272 | 106 | = 3378 |
| Liabilities | ||||||
| Creditors falling due within | ||||||
| oneyear(Note10) | (217) | - | (217) | (21) | - | (21) |
| Total Liabilities or provisions | (217) | - | (217) | (21) | - | (21) |
| Netcurrent assets or liabilities | 37 | 56 | 93 | 251 | 106 | =357 |
| Total net assets | 757 | 56 | 813 | 939 | 106 | 1045 |
| Funds ofthe Charity (Note 11) | ||||||
| Restricted Funds | - | 56 | 56 | - | 106 | 106 |
| Unrestricted Funds | 757 | - | 757 | 939 | - | 939 |
| 757 | 56 | 813 | 939 | 106 | 1045 |
The notes on pages 12 to 19 form part of these accounts
Signed on behalf of the Corporate Trustee (the Board of Mid Cheshire Hospitals NHS Foundation Trust)
Claire Liddy, Chief Financial Officer & Megan Nurse, Chair & Trustee Trustee 25 September 2025 25 September 2025
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Mid Cheshire Hospitals Charitable Fund
Note 1 - Accounting Policies
Mid Cheshire Hospitals NHS Foundation Trust is the corporate trustee to Mid Cheshire NHS Charitable Fund, referred to as 'the Charity’.
The Foundation Trust has assessed its relationship to the Charity and determined it to be a subsidiary because the foundation trust is exposed to, or has rights to, variable returns and other benefits for itself, patients and staff from its involvement with the charitable fund and has the ability to affect those returns and other benefits through its power over the fund.
The charitable fund’s financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2019) preparing their accounts in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued on October 2019 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The Charity operates for the benefit of patients, staff and visitors of Mid Cheshire Hospitals NHS Foundation Trust and is therefore a public benefit entity.
The financial statements have been prepared on a going concern basis which the Trustees consider to be appropriate for the following reasons.
The business model of the charity is such that its charitable activities are limited to those which it has sufficient funds to support from the excess of funding received over the costs of administering the charity. The charity therefore has no specific commitments and no committed costs beyond its fixed costs of operation which are detailed in note 5.
The Trustees, after reviewing the cash flow forecasts for 2024/25 and the Group’s 5-year strategic plan, is of the opinion that the charity will have sufficient funds to meet its liabilities as they fall due for that period. The Trustees have also considered the implications of COVID-19 on these cash flow forecasts and consider that as a result of its operating model explained above, even if no further funding is received in the 12-month period, the charity has sufficient cash reserves to pay all committed costs.
Consequently, the Trustees are confident that the charity will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the monetary value of incoming resources can be measured with sufficient reliability.
Donations are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that those conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case-by-case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash, or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
Debtors are accrued for when the Charity is reasonably satisfied that it will receive the cash. Invoices will be accrued for at face value and legacies will be accrued for at the sum specified or an estimate based upon the estate valuation at the date of death.
Expenditure
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All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. The financial statements are prepared in accordance with the accruals concept. A liability (and consequently, expenditure) is recognised in the accounts when there is a legal or constructive obligation, capable of reliable measurement, arising from a past event.
Expenditure is split into two main categories being the costs of raising funds and the actual costs of charitable activities.
All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs (Note 6). The costs of generating funds represent fundraising costs together with investment management fees. Fundraising costs include expenses for fundraising activities together with the salaries and overhead costs of the Community fundraiser.
Costs of activities in the furtherance of charitable activities are expenditure incurred on the provision of services or goods. Support costs are an integral and material part of the costs of these activities.
Creditors are accrued for when the Charity is satisfied that it received the goods or service before the 31st March, and they are based on invoice actual value.
Cash at bank or in hand
Cash is cash in hand and deposits with any financial institution repayable without penalty on notice of not more than 24 hours. The bank accounts held by the Charity both fall within this definition, and no other type of account is held.
Investment Fixed Assets
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing market price, as provided by our investment advisors. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Trust does not acquire put options, derivatives or other complex financial instruments. 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 sentiment concerning equities and within particular sectors or sub sectors. Investment Income is accounted for at the point of receipt in the holding account of the nominated Investment advisors.
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 their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
Contingent liabilities
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A contingent liability is identified and disclosed for those grants resulting from: e — apossible obligation which will only be confirmed by the occurrence of one or more uncertain future events not wholly within the trustees’ control; or
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e —apresent obligation following a grant offer where settlement is either not considered probable; or e — the amount has not been communicated in the grant offer and that amount cannot be estimated reliably.
Provisions
A Provision is a liability for which the timing or amount is uncertain. It is recognised when: e the charity has a present obligation as a result of a past event that existed at the balance sheet date;
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e It is probable that a transfer of economic benefits will be required to settle the obligation: and e¢ — the amount can be reliably estimated.
Structure of Funds
Where there is a legal restriction on the purposes to which a fund may be put, the fund is classified in the accounts as a restricted fund. The Charity no longer holds restricted funds.
Funds where the capital is held to generate income for charitable purposes and cannot itself be spent are accounted for as endowment funds. Mid Cheshire Hospitals Charitable Fund holds no endowment funds.
Other funds are classified as unrestricted funds. Unrestricted funds comprise those funds which the Trustee is free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the donor has made known their non-binding wishes or where the Trustee at its discretion has created a fund for a specific purpose.
The Trustee involves each division, ward, department, and where appropriate staff representatives, in fundraising and decisions regarding expenditure of charitable monies. A Committee of the Trust Board meets regularly and approves all expenditure.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the Charity’s accounting policies, which are described above, the Trustee is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Trustee does not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.
Going Concern
The financial statements have been prepared on a going concern basis which the Trustees consider to be appropriate for the following reasons.
The business model of the charity is such that its charitable activities are limited to those which it has sufficient funds to support from the excess of funding received over the costs of administering the charity. The charity therefore has no specific commitments and no committed costs beyond its fixed costs of operation which are detailed in note 6.
The Trustees have reviewed the cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that the charity will have sufficient funds to meet its liabilities as they fall due for that period. The Trustees have also considered the implications of COVID-19 on these cash flow forecasts and consider that as a result of its operating model explained above, even if no further funding is received in the 12-month period, the charity has sufficient cash reserves to pay all committed costs.
Consequently, the Trustees are confident that the charity will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements.
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