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2024-03-31-accounts

ANNUAL REPORT AND ACCOUNTS 2023‐24 Frimley Health Charity Reg. No. 1049600

Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Contents

SECTION ONE

Independent Auditor Report to the members of Frimley Health Charity SECTION TWO

Annual Report and Accounts

Contents .......................................................................................................................................... 1
Independent Auditor Report .......................................................................................................... 2
1 Foreword ........................................................................................................................................ 9
2 Structure, Governance and Management .................................................................................... 10
3 Risk Management ......................................................................................................................... 13
4 Objectives and Strategy ................................................................................................................ 14
5 Review of Finances, Achievements and Performance .................................................................. 14
6 Investment Policy .......................................................................................................................... 17
7 Reserves Policy .............................................................................................................................. 17
8 Future Plans .................................................................................................................................. 17
Statement of Financial Activities for the year ended 31 March 2024 .......................................... 19
Balance Sheet as at 31 March 2024 .............................................................................................. 20
Statement of Cash Flows .............................................................................................................. 21
Notes to the Accounts .................................................................................................................. 22

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

SECTION ONE

Independent Auditor Report

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Independent auditor’s report to the Trustee of Frimley Health Charity

Opinion

We have audited the financial statements of Frimley Health Charity (“the charity”) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and related notes, including the accounting policies in note 1.

In our opinion the financial statements:

Basis for opinion

We have been appointed as auditor under section 149 of the Charities Act 2011 (or its predecessors) and report in accordance with regulations made under section 154 of that Act. We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities are described below. We have fulfilled our ethical

responsibilities under, and are independent of the charity in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.

Going concern

The trustee has prepared the financial statements on the going concern basis as they do not intend to liquidate the charity or to cease its operations, and as they have concluded that the charity’s financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements (“the going concern period”). In our evaluation of the trustees’ conclusions, we considered the inherent risks to the charity’s business model and analysed how those risks might affect the charity’s financial resources or ability to continue operations over the going concern period.

Our conclusions based on this work:

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the charity will continue in operation.

Fraud and breaches of laws and regulations – ability to detect

Identifying and responding to risks of material misstatement due to fraud

To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards, we perform procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries. On this audit we do not believe there is a fraud risk related to revenue recognition because of the low value, high volume homogeneous nature of the Charity’s revenue. The recognition of revenue closely aligns to cash received in year.

We performed procedures including:

Identifying and responding to risks of material misstatement due to non‐compliance with laws and regulations

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general sector experience and through discussion with the directors and other management (as required by auditing standards), from inspection of the Charity’s regulatory and legal correspondence and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non‐compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Firstly, the Charity is subject to laws and regulations that directly affect the financial statements, including financial reporting legislation (including related charities legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Whilst the Charity is subject to many laws and regulations, we did not identify any where the consequences of non‐compliance alone could have a material effect on amounts or disclosures in the financial statements.

Context of the ability of the audit to detect fraud or breaches of law or regulation

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non‐ compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher risk of non‐detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non‐compliance or fraud and cannot be expected to detect non‐ compliance with all laws and regulations.

Other information

The trustee is responsible for the other information, which comprises the Annual Report. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. We are required to report to you if:

We have nothing to report in these respects.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Matters on which we are required to report by exception

Under the Charities Act 2011 we are required to report to you if, in our opinion:

We have nothing to report in these respects.

Trustees’ responsibilities

As explained more fully in the statement set out on page nine, the trustee is responsible for: the preparation of financial statements which give a true and fair view; 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; assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using 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.

Auditor’s responsibilities

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue our opinion in an auditor’s report. Reasonable assurance is a high level of assurance, but does not guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

A fuller description of our responsibilities is provided on the FRC’s website at www.frc.org.uk/auditorsresponsibilities.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the charity’s trustee as a body, in accordance with section 149 of the Charities Act 2011 (or its predecessors) and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustee those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustee, as a body, for our audit work, for this report, or for the opinions we have formed.

Jessica Hargreaves

for and on behalf of KPMG LLP, Statutory Auditor

Chartered Accountants

KPMG LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

15 Canada Square, Canary Wharf, London, E14 5GL 17 January 2025

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

SECTION TWO

Annual Report and Accounts

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

1 Foreword

The Corporate Trustee presents the Frimley Health Charity (“The Charity”) Annual Report together with the audited financial statements for the year ended 31 March 2024. The Charity's Annual Report and Accounts for the year ended 31 March 2024 have been prepared by the Corporate Trustee in accordance with the Charities Act 2011, the Charities Statement of Recommended Practice (FRS 102), and FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

The Charity’s Annual Report and Accounts include all of the separately established funds for which the Frimley Health NHS Foundation Trust is the sole beneficiary.

The Charity is registered with the Charity Commission (registration number 1049600) in accordance with the Charities Act 2011.

1.1 Reference and Administrative Details

The Charity was formed by Trust Deed (Declaration of Trust) on 26 September 1995 and entered on the Central Register of Charities on 4 October 1995. The registration was as an Umbrella Charity; Registered Charity Number 1049600. The Charity is currently known as Frimley Health Charity.

Supplemental deed dated 23 May 2005 changed the name to Frimley Park Hospital NHS Foundation Trust Charitable Fund, further amended by a supplemental deed dated 4 January 2014 to Frimley Park Hospital Charity. This was further amended in March 2015 to Frimley Health Charity as approved by the Trustee following the acquisition of Heatherwood and Wexham Park Hospitals NHS Foundation Trust by Frimley Park Hospital NHS Foundation

Trust.

Charitable funds received by the Charity are accepted, held and administered as funds and property 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, these funds are held on trust by the Corporate body.

1.2 Principal Office

Frimley Health NHS Foundation Trust Frimley Park Hospital Portsmouth Road Frimley Surrey GU16 7UJ

1.3 Bankers

Lloyds Bank PLC Lloyds Bank PLC Barclays Bank PLC 19/23 Obelisk Way 24 High Street London Corporate Banking Camberley Slough 1 Churchill Place Surrey GU15 3SE Berkshire SL1 1EJ London E14 5HP

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Investec Bank Plc CCLA Santander UK PLC 30 Gresham Street One Angel Lane 2 Triton Square London London Regent’s Place EC2V 7QP EC4R 3AB London NW1 3AN

1.4 Independent Auditor

KPMG LLP 15 Canada Square Canary Wharf London E14 5GL

1.5 Solicitor

Capsticks 1 St George’s Road Wimbledon London SW19 4DR

2 Structure, Governance and Management

2.1 Trustee

The Frimley Health NHS Foundation Trust is the Corporate Trustee of the Charity governed by the law applicable to Trusts, principally the Trustee Act 2000 and the Charities Act 2011. Acting as Corporate Trustee, the Trust’s Board of Directors is responsible for the overall management of the Charity.

The Chair and Non‐Executive members of the Trust Board are appointed by the Trust’s Council of Governors. The Chief Executive is appointed by the Chair and Non‐Executive Directors (subject to ratification by the Council of Governors). Executive members of the Trust Board are subject to recruitment by the Chairman, Non‐Executive Directors and Chief Executive. Members of the Trust Board are not individual Trustees under Charity Law, but act as agents on behalf of the Corporate Trustee. Duties are discharged through dedicated Trustee meetings.

For operational purposes the Trustees, during the financial year 2023/24, were deemed to be the Chairman, Non‐Executive Directors and Executive Directors of Frimley Health NHS Foundation Trust. The Director of Finance acted as the principal officer overseeing the day‐ to‐day financial management and accounting for the Charity during the year. The members of the Board of the Corporate Trustee who served during the financial year and up to the date of signing the financial statements were as follows:

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Non‐Executive Directors:

Bryan Ingleby – Chair Mike Baxter – Non‐Executive Director & Deputy Chair

Linda Burke

Gary McRae John Weaver Jackie Westaway Dawn Kenson Mike O’Donovan Pooja Dewan (left 31 December 2023) NExT Director Scheme

Associate Non‐Executive Director

Dr Na’eem Ahmed

Executive Directors:

Executive Directors:
Neil Dardis Chief Executive
Timothy Ho Medical Director
Nigel Foster Director of Finance (left 31 July 2023)
Caroline Hutton Chief Operating Officer
Lorna Wilkinson Director of Nursing and Midwifery
Matt Joint Director of People
Melanie van Limborgh Chief of Nursing and Midwifery
Kishamer Sidhu Chief Finance Officer from 31 July 2023
James Clarke Chief Strategy Officer from 1 February 2024

Induction and training are organised for new Directors of the Corporate Trustee on a case‐ by‐case basis. This includes a series of one‐to‐one meetings with the Chairman, the executive directors and senior managers.

2.2 Statement of Trustee’s Responsibilities in respect of the Trustee’s Annual Report and Financial Statements

Under the trust deed and rules of the charity and 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 .

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

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:

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.

2.3 Charitable Funds Committee

The Charitable Funds Committee was established by the Trustee to oversee the day‐to‐day management of the Charity in accordance with the duties of the Trustee, and to report regularly to the Trustee on the discharge of its responsibilities. The Charitable Funds Committee is chaired by a Non‐Executive Director of the Trust and includes Executive and Directors as well as individuals who are not members of the Board of Directors. The members who served during the financial year and up to the date of signing the financial statements were as follows:

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Members:

John Weaver Non‐Executive Director & Committee Chair Pooja Dewan NExT Director (left 31 December 2023) Carol Deans Director of Communication and Engagement Stephen Jones Director of Operational Finance

Attendees:

Jeetesh Bhardwa Consultant Philippa Hooton Head of Nursing Medicine & Elderly Care Alison Stevens Corporate Head of Nursing FPH Joanna Hawkes Matron, Wexham ED Ann McDonald Associate Director of Finance Aman Jhalli Head of Technical Accounts Andrew House Charity Director Anthony Kerslake Head of Fundraising Dorota Underwood Company Secretary Hannah Farmhouse Company Secretary

The accounting records and the day‐to‐day administration of the funds are dealt with by the Finance Department located at Frimley Health NHS Foundation Trust, Heatherwood Hospital, London Road, Ascot, Berkshire SL5 8AA.

3 Risk Management

The major risks to which the Charity is exposed have been identified and assessed, with systems in place that seek to mitigate those risks.

Although the current economic climate is relatively stable, the prospect of future economic downturns presents limited risk because in general the Charity does not enter into long‐term spending commitments that are not covered by its income and tailors its expenditure to the funds available.

Expenditure is closely monitored; no fund manager is able to expend funds without the request first being checked by the Finance Department, which ensures the funds are available. The Charitable Funds Committee regularly reviews the movement on the different funds to satisfy itself that funds are being spent in accordance with the purpose for which they were raised and not retained to no benefit of the Charity, with significant fund holders asked to provide spending plans to support high balances.

There are no material uncertainties about the Charities ability to continue. The Charity is a public benefit entity.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

4 Objectives and Strategy

The Charity’s overarching objective is expressed as follows in the Trust Deed:

“The Trustee shall hold the Trust Fund upon trust to apply the income, and at its discretion, so far as may be permissible, the capital, for any charitable purposes relating to the NHS (hereinafter referred to as “the Objects”)”.

The Trustee has had regards to Charity Commission guidance on public benefit in section 17 of the Charities Act 2011 as well as the activities undertaken to further a charity’s purposes for the benefit of the public as demonstrated in section 5 of the Annual Report.

The Charitable Funds Committee has defined the purpose of the Frimley Health Charity as follows:

The purpose of the Frimley Health Charity is to raise and receive money and other support from patients, staff and members of Frimley Health NHS Foundation Trust (“The Hospitals”), as well as from the wider community. The Trustee of the Charity is responsible for ensuring the funds raised are spent in accordance with the wishes of the donors if specified, Charity Commission guidelines, and all relevant legal requirements.

The overall aim of the Corporate Trustee is to enhance the capacity of the Hospitals, its staff, and volunteers to provide the best possible care for its patients, over and above the standards required by the NHS.

The Charitable Funds Committee continued to support the Trust’s main strategic appeal in 2023‐24:

5 Review of Finances, Achievements and Performance

The net assets of the Charity as at 31 March 2024 were £5,652,000 compared with £5,193,000 as at 31 March 2023, an overall increase of £459,000.

The total income received was £3,110,000 which represents an increase of £928,000 compared with the previous year (22/23 £2,182,000).

The total expenditure of £2,838,000 was an increase of £1,014,000 on the previous year (2022/23 £1,824,000). Spend on equipment which was donated to the Trust rose to £420,000 (2022/23 £315,000) an increase of £105,000. £967,000 was spent on patient education and welfare (2022/23 £30,000) which was a large increase of £937,000.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

A key contribution to this was a large capital spend in the Stroke Unit of £560,000 for a complete refurbishment as well as the tireless improvements work undertaken by the Arts & Creative Health Manager on patient experience enhancement around the entire Trust.

Fund Raising

The 2023/24 financial year has seen an encouraging lift in our income (£3,110,000). Highlights from 2023/24 include the receipt of £800,000 in cash from a single legacy with further funds accrued of £779,000 expected from this legacy once two properties are sold in 2024/25.

We continue to implement many Creative Health projects across the Trust. Major Donor and Trust and Foundation work is also expanding; lottery income was £551,000 this year, before costs.

One of the biggest changes in the charity has been the recruitment of a professional fundraising team to lead us towards our target of £5,000,000 per year of income. We are starting to see growth in many areas despite the tough economic challenges that charities across the country are facing. We have also seen an improvement in our financial investment strategy with income of £117,000 in interest and a capital gain of £187,000 on investments. We hope to build on this in 2024/25.

The uplift in income is attributable to a major legacy pledge; general donation increases, as well as strong event income. We have promoted the Charity in many ways through social media, posters on site, press releases and on our website. For the first time we have taken part in the ‘Free Wills month’ programme and saw many pledges come from this. We have also raised awareness of legacy giving significantly over the last two years and we expect to see the impact of this over the coming years.

Income

The Charity relies on donations, grants, and legacies as its main sources of income, which accounts for 67% of total income; £2,091,000 (2022/23 £1,391,000).

The Charity received £551,000 in respect of income from the community lottery during 2023/24 (£542,000 in 2022/23). This is shown as other trading activities on the SOFA. There is a direct cost of providing the lottery in terms of lottery prizes, administration and canvassing, 2023/24 £335,000 (£325,000 in 2022/23). The Lottery also contributed £121,125 towards charitable operations (staffing) which was up from £50,185 in 2022/23.

Expenditure

Expenditure (note 8 to the accounts refers) included staff education and welfare of £156,000 (2022/23 ‐ £293,000) this enabled nursing, medical and support staff to develop their skills by attending courses where innovation and new research ideas can be shared. Such

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

opportunities are over and above the regular Trust programmes of staff development and are made possible through donations received in wards and departments from patients and relatives as a thank you. These funds are also used to support departmental team building events.

During the year the Charity also continued to support a range of other charitable and health related activities benefiting patients both directly and indirectly. The purchases were varied and were of a kind that would not normally be a priority for NHS funding and included the following items in excess of £10,000:

**Denotes multiple purchases

Going Concern

The Trustee has reasonable expectation that Frimley Health Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, there are no material uncertainties about the Charity’s ability to continue as a going concern and the accounts have been prepared on this basis. The Trustees have also considered the implications of COVID‐19 and the cost‐of‐living crisis on cash flow forecasts and consider that as a result of its operating model explained within this Annual Report, even if no further funding is received in the 12 month period, the Charity has sufficient cash reserves to pay all committed costs.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

6 Investment Policy

The Corporate Trustee has determined the investment policy as being, in so far as reasonable, to maintain and enhance the real value of the Charity’s assets over the long term by an investment portfolio of low‐risk assets.

7 Reserves Policy

The Trustee’s policy is that funds should be spent when suitable applications arise, rather than that they should be retained indefinitely with the intention of generating investment income. This reflects the fact that the Charity does not generally enter into long‐term commitments. The Trust does however have a level of operating expenditure of £720,000 (£602,000 for 2023/24) and the Trustees intend that an amount equal to six months’ worth of expenditure £360,000 (£302,000 for 2022/23) be held in reserve to fund forward commitments. There has been a rebasing of staff costs during 2023/24 given the investment in the fundraising team, these costs moving forwards are now shown separately within note 9 to the accounts as a direct staff cost of the fundraising team.

This expenditure comprises:

Support costs £121,000 (£133,000 2022/23) note 7 refers

Fundraising staff costs £599,000 (£469,000 2022/23) note 9 refers

The Charity also has funds which are designed to accumulate funds for a specific appeal and are therefore held until the appeal target is met. These funds are reviewed each year, but for 2022/23 the following are considered as reserved at 31st March:

The policy is reviewed on an annual basis.

8 Future Plans

It has been an exciting year to see the completion of the building of the new Stroke extension. This is now open and making a significant difference to the life of stroke patients.

We have also seen the dementia appeal reach over £250,000. We have funded music therapy, dementia activity coordinators, transformation of ward spaces for dementia patients, dementia clocks and cutlery and crockery especially adapted for use by dementia patients.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

The lottery is on target to hit £778,000 for 2024/25. We have a strong Bank staff team to canvass for more supporters combined with support from our corporate canvassing partner. This should see us topping £1,000,000 income in 2025/26. The other major change has been the development of a strong fundraising team. This now means that we can develop a diversified income with growing event income, increasing corporate partnerships, major donor and Trust and Foundation grants and a deepening of our community partnerships. In memory giving has also increased and will be a key focus for 2024/25.

The future for the charity is looking very positive at present with rising income after the difficulties of the pandemic and the economic crisis, and a fully engaged, enthusiastic and experienced team. We will also be embarking on a grateful patient programme, seeking to engage with those that are looking for a way to show their gratitude. The focus will be on engaging with major donors, fundraisers and with those who would like to make a significant impact on their local hospital.

A Big Thank You

On behalf of staff and patients who have benefitted from improved services due to the receipt of donations and legacies, the Corporate Trustee would like to thank all of those who have made charitable donations during the year.

Approved on behalf of the Charitable Trustee

Poa tty

Bryan Ingleby Chairman Date: 14 January 2025

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Statement of Financial Activities for the year ended 31 March 2024

Note
Income from:
Donations and legacies
3
Other trading activities
4
Charitable activities
5
Investments
6
Total Income
Expenditure from:
Raising funds
9
Charitables activities
7 & 8
Other
7
Total Expenditure
Net Movement in Funds
Income & Expenditure Reserve: Capital Gains
11
Reconciliation of Funds:
Total Funds brought forward 1 April
Total Funds carried forward 31 March		 Unrestricted
Funds
£000
2,041
551
343
96
3,031
1,151
1,418
59
2,628
403
149
4,771
5,323		 Restricted
Funds
£000
50
0
8
21
79
0
210
0
210
(131)
38
422
329		 Total
Funds
31 March 2024
£000
2,091
551
351
117
3,110
1,151
1,628
59
2,838
272
187
5,193
5,652		 Unrestricted
Funds
£000		 Restricted
Funds
31
£000		 Total
Funds
March 2023
£000
1,374
511
238
32
2,155
164
1,437
1,601
554		 17
0
0
10
27
1
222
223
(196)		 1,391
511
238
42
2,182
165
1,659
1,824
358
0
4,217
4,771		 0
618
422		 0
4,835
5,193

All gains and losses recognised in the current and prior years are included in the Statement of Financial Activities. All amounts relate to continuing operations. There is no material difference between the net movement in funds as stated above and their historical cost equivalents. There has been a benefit of capital gains on investment which is accounted into an income and expenditure reserve.

The accompanying notes form part of these financial statements:

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Balance Sheet as at 31 March 2024

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
Note 31 March 2024 31 March 2023
£000 £000 £000 £000 £000 £000
Current Assets: 11
Debtors 1,196 115 1,311 629 188 817
Investments 2,387 614 3,001 1,970 589 2,559
Cash at Bank and in Hand 1,224 315 1,539 1,588 474 2,062
Total Current Assets 4,807 1,044 5,851 4,187 1,251 5,438
Liabilities 12
Creditors: Amounts falling due within one year 158 41 199 189 56 245
Net Current Assets 4,649 1,003 5,652 3,998 1,195 5,193
Total Net Assets 4,649 1,003 5,652 3,998 1,195 5,193
Total funds of the Charity 13
Restricted Income Funds 1,003 1,003 1,212 1,212
Unrestricted Income Funds 4,649 4,649 3,981 3,981
Total Charity Funds 4,649 1,003 5,652 3,981 1,212 5,193

The notes at pages 22 to 30 form part of these financial statements.

The financial statements on pages 19 to 30 were approved by the Corporate Trustee on the 10[th] January 2025 and signed on its behalf by:

Bryan Ingleby

Chairman

Date: 14 January 2025

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Statement of Cash Flows

Statement of Cash Flows:
Cash flows from operating activities:
Net cash provided by (used in) operating activities
Cash flow from investing activities:
Interest from investments
Proceeds from sale of investments
Purchase of investments
Net cash provided by (used in) operating activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 Total
Total
Funds
Funds
2023/24
2022/23
£000
£000
(198)
16
117
42
0
0
(442)
(1,041)
(325)
(999)
(523)
(983)
2,062
3,045
1,539
2,062
Reconciliation of net income/(expenditure) to net cash flow from operating activites
2023/24
2022/23
£000
£000
Net income / (expenditure)
272
358
Adjustments for:
Interest from investments
(117)
(42)
Decrease / (increase) in debtors
(494)
(424)
Increase / (decrease) in creditors
(46)
124
Capital Gains Reserve
187
0
Net cash provided by (used in) operating activities
(198)
16
Analysis of cash and cash equivalents
2023/24
2022/23
£000
£000
Cash at Bank and in Hand
1,539
2,062
Total cash and cash equivalents
1,539
2,062

The accompanying notes form an integral part of the financial statement.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Notes to the Accounts

1. Accounting Policies

a) Basis of preparation

The financial statements have been prepared on a going concern basis which the Trustees consider to be appropriate for the following reasons:

In preparing these accounts, the Trustee has considered whether any restatement of comparatives was required to comply with FRS 102 and the Charities SORP (FRS 102),

c) Funds Structure

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors. Unrestricted funds comprise those funds that the Trustee is free to use for any purpose in furtherance of the charitable objects. The funds are disclosed in note 11.

All income must be recognised when entitlement is established, the monetary value can be reliably measured and the receipt is probable.

Legacies are accounted for as income where the receipt of the legacy is probable; this will be once confirmation has been received from the representatives of the estate(s) that probate has been granted; there are sufficient assets in the estate to pay the legacy

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

and that all the conditions of the legacy have been fulfilled or are within the Charity’s control.

Gift Aid

Gift Aid is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Expenditure is recognised when a liability is incurred. Grant commitments are recognised when a constructive obligation arises which results in a payment being unavoidable. Grants are only made to related or third party NHS bodies and non‐NHS bodies in furtherance of the charitable objects of the funds. A liability for such grants is recognised when approval has been given by the Corporate Trustee. The Trust has full knowledge of the plans of the Trustee, therefore a grant approval is taken to constitute a firm intention of payment, which has been communicated to the Trust, and so a liability is recognised.

Contractual arrangements are recognised as goods and services are supplied.

f) Irrecoverable VAT

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

Support costs are those costs which do not relate directly to a single activity. These include only those costs which relate to a charitable activity. Staff costs that were incurred as a direct cost of a charitable activity are apportioned as per note 7 to the accounts the costs were £62,000 (2023/24 £75,000). The allocation is shown across Charitable Activities, see note 8 of the accounts.

h) Cost of raising funds

The costs of raising funds are fundraising expenses and consultancy costs.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

i) Charitable Activities

Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the Charity. These costs include an apportionment of overhead and support costs as shown in note 7 and 8.

j) Transfers between funds

A transfer between funds is permitted provided the transfer is in keeping with the

purpose of the funds and has been agreed by the relevant fund holders in all cases.

Cash at bank and in hand is held to meet the day to day running costs of the Charity as they fall due.

l) Current asset investments

Current asset investments include cash on deposit and cash equivalents with a maturity of less than one year held for investment purposes rather than to meet short‐term cash commitments as they fall due. Capital gains earned on investment have been added to an income & expenditure reserve.

Debtors are amounts owed to the Charity. They are measured on the basis of their recoverable amount.

Creditors are amounts owed by the Charity. They are measured at the amount that the Charity expects to have to pay to settle the debt.

The Charity is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried on in furtherance of the Charity’s primary objects, if these profits and surpluses are applied solely for charitable purposes.

p) Significant accounting estimates and judgements

Estimates and judgements are periodically evaluated and are based on historical experience and other factors, including, expectations of future events that are believed to be reasonable under the circumstances.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Legacies have been accounted for as income where the receipt of the legacy is considered probable through:

As at 31 March 2024, in addition to the legacy income that has been included in the accounts, the Charity expected to benefit from a number of legacies from estates for which these conditions were not met.

The immediate and ultimate parent undertaking and controlling party is Frimley Health NHS Foundation Trust. The Charity results have not been consolidated within the accounts of Frimley Health NHS Foundation Trust on the basis of materiality.

2. Related Party Transactions

The Frimley Health NHS Foundation Trust is the beneficiary of the Charity. The Charity has provided funding to the Trust for approved expenditure made on behalf of the Charity. This funding amounted to £2,621,000 (2022/23 ‐ £1,659,000) and is shown as expenditure from charitable activities.

During the year none of the members of the Foundation Trust’s Board of Directors or key management, staff or person(s) related to them have undertaken any material transactions with, or been beneficiaries of, the Charity.

The amounts owed to the Charity by the Corporate Trustee as at 31 March 2024 was £600 (31 March 2023 £1,103). Amounts owed to the Corporate Trustee by the Charity as at 31 March 2024 were £52,105 (31 March 2023 £101,744). There is no security over the balances.

3. Analysis of Donations and Legacies and Other Trading Activities

Unrestricted
Funds
£000		 Restricted
Funds
£000		 Total
31 March 2024
£000		 Unrestricted
Funds
£000		 Restricted
Total
Funds
31 March 2023
£000
£000
Donations from Individuals
Corporate Donations		 340
25		 40
10		 380
35		 467
137		 0
467
0
137
Legacies
Total		 1,676
2,041		 0 1,676
2,091		 770
1,374		 17
787
17
1,391
50

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

4. Analysis of Other Trading Activities

Lottery
Voluntary Organisations
Total		 Unrestricted
Funds
£000
551
0
551		 Restricted
Funds
£000
0
0		 Total
31 March 2024
£000
551
0
551		 Unrestricted
Funds
£000
542
‐31
511		 Restricted
Total
Funds
5193
£000
£000
0
542
0
‐31
0
511
‐

5. Income from Charitable Activities

Run Frimley
Race Wexham
Appeals ‐ General
Merchandising
Jingle Jog
Walks 4 Wards
Total		 Unrestricted
Funds
£000
61
133
116
19
12
2
343		 Restricted
Funds
£000
2
0
5
1
0
0		 Total
31 March 2024
£000
63
133
121
20
12
2
351		 Unrestricted
Funds
£000
77
0
158
3
0
0
238		 Restricted
Funds
£000
0
0
0
0
0
0
0		 Total
31 March 2023
£000
77
0
158
3
0
0
8 238

6. Income from investments

Interest earned on Cash held in
deposit accounts (current asset)
Total		 Unrestricted
Funds
£000
96		 Restricted
Funds
£000
21		 Total
31 March 2024
£000
117
117		 Unrestricted
Funds
£000
32
32		 Restricted
Total
Funds
31 March 2023
£000
£000
10
42
10
42
96 21

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

7. Allocation of Support Costs

Basis of
Apportionment
Financial Services
Estimate of time
External Audit
Invoice
Support Costs related to Charitable Activity
Estimate of time
Total
Apportionment of Support Costs
Purchase of new
Staff Education
across Charitable Activities stated
Equipment
and Welfare
in note 7:
£000
£000
Salaries and related costs
17
6
Total
17
6
Restated		 Basis of
Apportionment
Financial Services
Estimate of time
External Audit
Invoice
Support Costs related to Charitable Activity
Estimate of time
Total
Apportionment of Support Costs
Purchase of new
Staff Education
across Charitable Activities stated
Equipment
and Welfare
in note 7:
£000
£000
Salaries and related costs
17
6
Total
17
6
Restated		 Basis of
Apportionment
Estimate of time
Invoice
Estimate of time
Staff Education
and Welfare
£000
6		 Total
31 March 2024
£000
51
8
62		 Total
31 March 2023
£000
50
8
75
121
Patient Education
and Welfare
£000
39		 133
Total
31 March 2024
£000
62
39 62
Apportionment of Support Costs
across Charitable Activities stated
in note 7:
Salaries and related costs
Total		 Purchase of new
Equipment
£000
15
15		 Staff Education
and Welfare
£000
44		 Patient Education
and Welfare
£000
16		 Total
31 March 2023
£000
75
44 16 75
2022/23 Annual Accounts
Apportionment of Support Costs
across Charitable Activities stated
in note 7:
Financial Services
External Audit
Salaries and related costs
Total		 Purchase of new
Equipment
£000
24
4
257
285		 Staff Education
and Welfare
£000
24
4
260		 Patient Education
and Welfare
£000
3
0
27		 Total
31 March 2023
£000
51
8
544
288 30 603

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

8. Analysis of Charitable Activities

During the 2023/24 financial year the Charity has amended its methodology for apportioning and classifying expenditure between the categories of ‘Charitable Acitivites’, ‘Raising Funds’ and ‘Other Expenditure’. Below we have shown what the impact on the 2022/23 reported balances would have been if the charity had applied the current year methodology during the prior financial year. There is no change to the 2022/23 total expenditure balance reported.

2022/23 Reclassified us
Methodolog		 2022/23 Annual Accounts
ing 2023/24
y
Purchase of New Equipment
Patient Education and Welfare
Staff Education and Welfare
Other
Grants Payable
Total		 Activities
Undertaken
Directly
£000
420
967
156
23
0		 Allocation of
Governance
Costs
£000
17
39
6
0
0		 Total
31 March 2024
£000
437
1006
162
23
0		 Activities
Undertaken
Directly
£000
316
30
293
63
30		 Allocation of
Governance
Costs
£000
15
16
44
0
0		 Total
Activities Allocation of
Total
31 March 2023
Undertaken Governance
31 March 2023
Directly
Costs
£000
£000
£000
£000
331
Purchase of New Equipment
315
285
600
46
Patient Education and Welfare
30
30
60
337
Staff Education and Welfare
293
288
581
63
Lottery
325
‐
325
30
Other
63
‐
63
Grants Payable
30
‐
30
807
Total
1,056
603
1,659
1,566 62 1,628 732 75

9. Analysis of Raising Funds

During the 2023/24 financial year the Charity has amended its methodology for apportioning and classifying expenditure between the categories of ‘Charitable Acitivites’, ‘Raising Funds’ and ‘Other Expenditure’. Below we have shown what the impact on the 2022/23 reported balances would have been if the charity had applied the current year methodology during the prior financial year. There is no change to the 2022/23 total expenditure balance reported.

Analysis of Raising Funds 2022/23 Reclassified using 2023/24
Methodology
2022/23 Annual Accounts		 Reclassified using 2023/24
Methodology
2022/23 Annual Accounts
Lottery Prizes, Admin & Canvassing
Merchandising
Consultancy Fees
Events
Fundraising Staff Costs
Total		 Unrestricted
Funds
£000
335
28
12
177
599		 Restricted
Funds
£000
0
0
0
0
0		 Total
31 March 2024
£000
335
28
12
177
599		 Unrestricted
Funds
£000
325
13
3
148
469		 Restricted
Funds
£000
0
0
0
1
0		 Total
Unrestricted
Restricted
Total
31 March 2023
Funds
Funds
31 March 2023
£000
£000
£000
£000
325
Raising Funds
164
1
165
13
3
149
469
959
Total
164
1
165
1,151 ‐ 1,151 958 1

10. Auditors’ Remuneration

The Auditors’ remuneration was £8,000 (excluding VAT) and relates directly to work to be undertaken on the external audit of the Annual Report and Accounts.

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

11. Analysis of Current Assets

31 March 2024
Debtors due within one year
£000
Other debtors
8
Accrued Income
1,291
Prepayments
12
Total
1,311		 31 March 2024
Debtors due within one year
£000
Other debtors
8
Accrued Income
1,291
Prepayments
12
Total
1,311		 31 March 2023
£000
13
798
6
817
31 March 2024
Investments
£000
COIF Deposit Account
227
Santander Deposit Account
35
Investec
1,052
CCLA ‐ Ethical Investments
1,500
CCLA ‐ Ethical Investments Captital Gain
187
Total
3,001		 31 March 2023
£000
766
784
1,009
0
0
2,559
31 March 2024
Cash at Bank and In Hand
£000
Lloyds Bank Current Account
1,539
Total
1,539		 31 March 2023
£000
2,062
2,062

12. Analysis of Liabilities

31 March 2024 31 March 2023
Creditors: Amounts falling due within one year £000 £000
Other Creditors 52 102
Accruals 147 143
Total 199 245

13. Analysis of Charitable Funds

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Trustee’s Annual Report for Frimley Health Charity for the year ended 31 March 2024

Restricted Umbrella Funds: Balance
Income
Expenditure
Balance
1 April 2023
31 March 2024
£000
£000
£000
£000
Verona Legacy Fund (R)
Dementia Care
Dementia Appeal Fund
Opthalmic Surgery (R)
Holgate Legacy (R)
Ophthalmology Research (R)		 203
6
(88)
121
7
0
0
7
290
65
(98)
257
0
1
0
1
634
16
(34)
616
2
0
(1)
1
Total
Unrestricted Umbrella Funds
Total
TOTAL
1,136
88
(221)
1,003
4,057
3,211
(2,619)
4,649
4,057
3,211
(2,619)
4,649
5,193
3,299
(2,840)
5,652
Restricted Umbrella Funds:
Nhs Charities Together
Nhs Charities Together Ics
Fleet Hospital Legacy
Verona Legacy Fund (R)
Dementia Care
Opthalmic Surgery (R)
Holgate Legacy (R)
Ophthalmology Research (R)
Total
Unrestricted Umbrella Funds
Total
TOTAL		 Balance
Income
Expenditure
Balance
1 April 2022
31 March 2023
£000
£000
£000
£000
18
0
(18)
0
66
0
(66)
0
397
7
(38)
366
216
2
(15)
203
8
0
(1)
7
26
13
(39)
0
675
5
(46)
634
2
0
0
2
1,408
27
(223)
1,212
3,427
2,155
(1,601)
3,981
3,427
2,155
(1,601)
3,981
4,835
2,182
(1,824)
5,193

14. Events after the end of the reporting period

No post balance sheet events have taken place past the end of the reporting period that require adjustment.

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