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2024-03-31-accounts

Annual report and accounts 2023/24 Registered Charity number: 1049776

Table of contents

Foreword by Chairs of the Charitable Funds Committee and Corporate Trustee ............... 3

Objectives and activities .................................................................................... 4 The charity ..................................................................................................... 4 Our mission .................................................................................................... 4 Achievements and performance ........................................................................... 5 Grant making highlights of 2023/24 ...................................................................... 6 Our inspiring fundraisers .................................................................................... 10 Financial review ............................................................................................... 12 Fundraising performance ....................................................................................13 Developments since year-end ............................................................................ 18 Managing the money ......................................................................................... 19 Structure, governance and management ............................................................... 22 Risk assessment ............................................................................................. 23 Reference and administrative details..................................................................... 24 Our advisors .................................................................................................... 24 How to support Royal Surrey Charity ..................................................................... 25 Financial statements .........................................................................................25

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Foreword from the Chair of the Royal Surrey Charity Corporate Trustee and the Chair of the Royal Surrey Charity Charitable Funds Committee

Jonathan Bigmore – Chair, Corporate Trustee, and Chair, Royal Surrey NHS Foundation Trust Board

Howard Webber – Chair, Charitable Funds Committee, and Member, Royal Surrey NHS Foundation Trust Board

Inside this annual report, you will see a photo of our 2023 Stride for Cancer Care – 160 walkers raising nearly £50,000 to improve the experience of patients at the newly redeveloped Royal Surrey Cancer Centre. This is much in our minds at the moment, as we recently took part in the even bigger, even better, 2024 Stride for Cancer Care.

So why focus this foreword on hundreds of people negotiating the Surrey hills on a cloudy autumn Sunday morning? Because it exemplifies the Royal Surrey Charity – and indeed the Royal Surrey NHS Foundation Trust – at its best. What it shows is both simple and rather complex.

Simple, because it was just people walking together to raise money to further the mission of the Royal Surrey Charity: ‘To support services that directly, or have the potential to, benefit patients of the Royal Surrey NHS Foundation Trust, beyond the standard provided by normal NHS funding.’ The results are clear to see in the pages of the report.

Complex, because of who does the walking and because of what happens next. Our walkers are a wonderful community of patients, staff, family members and other supporters, all giving up their time and risking blisters in return for pledges from other friends, family, employers and supporters. And when the sponsorship funds are collected, we return to the mission: our staff give up yet more of their time to bid for charity funds to put into practice ideas for benefitting our patients in a wonderfully wide range of ways.

Stride is just one aspect of the charity. It seems wrong to single any of them out: the report describes so many brilliant ways in which our supporters raise funds for the charity, and equally brilliant ways in which the funds are used for patient benefit. But for a flavour of what our fundraisers do for the charity, just read Avelina’s and Jessica’s stories. And as for the charity’s funded projects, we have to draw attention to our Bid for Better programme, run in partnership with the University of Surrey, in which staff take part in a form of ‘Dragons’ Den’ – pitching projects for improving patient care, sometimes technical, sometimes simple, but always thoughtful, always innovative.

After a record-breaking 2023-24, we can only say a heart-felt thank you to the charity’s many supporters in the community, our patients who express their gratitude in tangible ways, the trusts and foundations, businesses and other donors who work with us, and our staff who do so much to help the charity improve every year.

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Objectives and activities

The charity

This is the annual report of Royal Surrey Charity (‘the Charity’) covering the period 1 April 2023 to 31 March 2024. Royal Surrey Charity (‘the Charity’) sits at the heart of one the highest performing NHS Trusts in the country: Royal Surrey NHS Foundation Trust (‘the Trust’). The Trust provides nationally celebrated community focused healthcare. Rated as "Outstanding" by the Care Quality Commission (CQC), the Trust provides acute care to a population of around 330,000 people locally as well as cancer care and other specialist services to a wider population in the South East of England, covering a population of approximately 3.5m people.

Royal Surrey Charity is the official charity for Royal Surrey NHS Foundation Trust, which includes:

The Charity helps enable the Trust to go above and beyond what is provided through standard NHS funding and strives to transform healthcare for people in South West Surrey and beyond.

You can also find out more by visiting our website: www.royalsurreycharity.org.uk

Our mission

The charity is registered with the Charity Commission as a main (or umbrella) charity (registered number 1049776), with a number of designated funds beneath the umbrella registration, specific to various wards and departments of the Trust. The purpose of the Charity is:

‘To support services that directly, or have the potential to, benefit patients of the Royal Surrey NHS Foundation Trust, beyond the standard provided by normal NHS funding.’

We put this into practice by making grants to the Trust for use towards a variety of purposes, which include:

Grants are made in accordance with charity law and are structured in a manner that ensures existing funds and money raised are used to best effect in supporting the work of the Trust. The charity aims to do this whilst according with donors’ wishes and the Charity’s aims and objectives, ensuring public benefit remains the key determinant of those decisions. During 2023/24, grants totalling £606k (2022/23: £1,281k) were made.

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Public Benefit Statement

The Corporate Trustee confirms that the Charity Commission’s general guidance on public benefit has been referred to when reviewing the Charity’s aims and objectives, planning future activities and setting the grant making policy for the year. As the financial pressures on the NHS continue, so does the increase in requests for the use of the charity’s funds. It therefore remains a key role of the Trustee/Charitable Funds Committee to discuss, consider and assess the extent of public benefit that can be achieved from each grant request received from the Trust. The Trustee is satisfied that the aims and objectives of the Charity are in the public benefit and are fully in accordance with Charity Law and Charity Commission guidance.

Achievements and performance

Royal Surrey Charity had an incredible year in 2023-24, raising an outstanding £1.4 million, a significant increase from £1.1 million the previous year. This achievement highlights the unwavering passion and generosity of our supporters, many of whom have personally experienced the exceptional care provided by Royal Surrey NHS Foundation Trust.

In collaboration with the Trust and the University of Surrey, we hosted our second Bid for Better competition, awarding an additional £130,000 to fund innovative projects that enhance patient care and experiences at Royal Surrey. We also held our second Stride for Cancer Care sponsored walk, raising an amazing £48,000 thanks to the efforts of over 160 enthusiastic participants.

In total, the charity contributed £527,000 in grants to fund a variety of exciting and important initiatives across the Trust, ensuring continued support for ground breaking improvements in patient care. Overall, 2023-24 was an incredibly positive year for Royal Surrey Charity, and we’re excited to build on this momentum as we continue to grow and enhance our support for Royal Surrey NHS Foundation Trust patients in 2024-25 and beyond.

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Grant making highlights of 2023/24 - Medical equipment £113k

Abdominal compression belts

Patients at our radiotherapy unit are now benefitting from Abdominal Compression Belts. Lisa-Jane Conway, Deputy Head of Radiotherapy said:

‘Tumours in the chest or abdomen can be difficult to treat as they move when a patient breathes. One method to reduce this movement is to ask patients to hold their breath for 20-30 seconds a number of times per session. Unfortunately, we have found that for many patients, this is quite difficult to do.’

Our radiotherapy team, therefore, set out to find an alternative option. The Abdominal Compression Belt is like a large blood pressure cuff placed around a patient’s abdomen. Once fitted, it applies gentle pressure onto the patient to make their breathing more shallow. This reduces the movement of the chest while still allowing the patient to breathe throughout their treatment.

One of the patients who was treated at Royal Surrey for lung cancer said:

‘The compression belt was surprisingly comfortable to wear. I certainly found it far less stressful than breath holding would have been. Please pass on my thanks to the charity for providing such equipment which makes a difficult time for a patient that much more pleasant.’

Symphony breast pump

Breast milk plays a vital role in a baby’s brain development and in protecting the premature baby’s gut. Thanks to the donations received, mothers at our Special Care Baby Unit can now benefit from Symphony Breast Pump. It enables our new mums to provide breast milk to their babies when they’re not yet ready to breastfeed. Rachel, a first-time mum gave birth to a premature baby at Royal Surrey. She said: “It has given me the confidence now to try and breastfeed and has taken away the anxiety I had.”

Giezl Pulanco, Senior Sister and Manager at our Special Care Baby Unit said: “We are so grateful to our charity supporters for choosing to donate to our cause. Your kindness and generosity have made a meaningful difference to the lives of those we serve.”

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Building and refurbishment - £68k Onslow pod rooms

Two pod rooms being used by patients receiving radiotherapy treatment have been transformed, thanks to generous donations to our Cancer Centre Fund.

The refurbished pods now provide a calming and modern space for patients, who often need to spend a few days in isolation after receiving radiotherapy treatment and are unable to leave the room.

Patients have commented that the rooms are ‘5-star’, ‘tranquil’, ‘beautiful’ and ‘welcoming’, and many feel they have lost that ‘hospital feel’ and are more relaxing.

Oncology Matron Jo Brown told us:

“The renovation has made such a difference to our patient’s stay in the hospital and clearly has a huge impact on their wellbeing. We cannot thank our supporters enough – your kindness is truly heart-warming. Being able to have this work done has improved the hospital experience for our cancer patients and has also cheered our staff!”

Staff education and wellbeing - £125k

Mental health first aider training

Three members of our staff qualified as Mental Health First Aid Instructors last year, and have since provided training internally for over 60 Royal Surrey staff to become Mental Health First Aiders, so they can better support colleagues.

The investment from the charity of £7,200 means the instructors can train staff a fs internally, saving a huge amount on external training costs. Our amazing Health and Wellbeing team are aiming to train up to 250 staff in the next couple of years, so more of our brilliant NHS workers have the tools to not only help staff who need support, but also better look after their own mental health needs.

Hollie Montague, Staff Wellbeing Officer, said: “Staff members who are struggling with their mental health are now able to access the appropriate support and signposting much more readily. We hope this will act as a preventative factor for their mental health deteriorating. The training should also help staff members in crisis to be identified sooner and receive a better level of support to safeguard them.”

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Ice creams for staff

We celebrated our wonderful NHS's 75th anniversary by funding more than 2,000 ice creams and treats for our hardworking staff. Projects like this are only possible thanks to donations to our Staff Wellbeing Fund, which puts staff health and wellbeing at the forefront of our work—helping to look after the people who take such good care of us all.

Bees’ knees staff awards

aH Thanks to the support of local companies, we ?A Fane o| were able to host the Bees’ Knees Oncology ) Ny) ‘ =\ wie, = Workforce Awards. An initiative spearheaded by Emma Masters, Lead Nurse for Systemic AntiAy! WS 4/ ~ ; Cancer Therapy (SACT), to recognise and celebrate our wonderful staff. She shared her ¥ r ~ « . inspiration behind the initiative:

“I had the idea of creating a fun monthly awards ceremony with a prize to acknowledge

all of our fantastic oncology staff, including clinical, housekeeping, and support staff. It seemed like a lovely thing to do to boost the health and wellbeing of staff and recognise the care and commitment that they deliver every day for our patients.”

Patient experience - £221k

Dragonfly care box

As part of the charity’s Bid for Better competition, Dragonfly Care Boxes have been distributed in each adult ward and the emergency department to improve the quality of end-of-life care. These boxes contain items of comfort to support dying patients, such as lip balm, no-rinse shampoo caps, and soft toothbrushes for patients and toiletries for relatives. Additionally, the boxes include Bluetooth speakers to play meaningful music and aromatherapy diffusers to create a calming environment. The purchase of additional camp beds for relatives who wish to stay overnight is also included.

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Jo Thompson, Nurse Consultant in Palliative Care, said: “I find it so positive to be able to offer these comfort items to patients and their relatives. We have to spend a lot of time talking about the clinical aspects of care, so it is really good to be able to offer a more holistic focus. It’s a wonderful way of gaining confidence in communicating with patients and their carers at the end of life.”

Pledge a present

Royal Surrey Charity is extremely grateful to local people, community groups and businesses for helping to spread some festive cheer to those spending Christmas in our hospitals.

In the week before Christmas, 600 gift bags were delivered to 19 wards and departments at Royal Surrey, as well as to our hospitals and patients in the community at Haslemere and Milford. Our amazing NHS staff then distributed the gifts on Christmas Day. Thanks to generous support, Pledge a Present appeal raised just over £25,000.

Diane, 80, spent two weeks in hospital over the Christmas period. She said:

“I want to thank you for the Christmas gifts given to me whilst being a patient on Bramshott Ward. It certainly did ‘brighten my day’ and such thoughtful and useful gifts.”

Anna Mae, Junior Sister in Eashing Ward, who was working on Christmas day, witnessed this first-hand. She told us:

“It was heartwarming to see our patients’ smiles when they received your thoughtful gifts. They surely brought warmth and joy, especially in these challenging times in their lives. Thank you, from the depths of our hearts to everyone who embraced the true spirit of giving during Christmas: you made a world of difference to our patients this holiday season.”

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Our inspiring fundraisers Avelina’s story

Nine-year-old fundraising star Avelina, has raised an incredible £1,850 for Hascombe Ward – our children’s ward at Royal Surrey County Hospital. Keen triathlete Avelina from Haslemere was admitted to the ward just over a year ago for a rare autoimmune disease, where she was cared for at the Royal Surrey for a week, before being transferred to a specialist team at Evelina London Children’s Hospital.

Following her doctor’s advice to exercise as much as possible due to the medication she is on, she entered the KidsTriUK triathlon events to raise vital money for our Children’s Fund, and has even selflessly sold a new bike she won at a triathlon last summer.

Avelina told us:

“I never thought I would have to go to the hospital. It just surprised me when I found out I had these rashes on my legs, and I couldn't walk, and I got terrified. Luckily, I was able to go to the hospital, but the doctors didn't know what I had, and they took a lot of blood out of me. Then I got a kidney biopsy and I tried to run away when they put the mask on me to put me to sleep! And now I take drugs every day. I wanted to raise money so that the doctors can get some more medicine for the other kids, because it feels like they've given it all to me.”

Amazingly, Avelina finished 5th in the British Triathlon South East Regional Series as one of the youngest competitors for her age division. She went on to be selected for the InterRegional Duathlon Team.

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Jessica’s story

In March 2024, amazing supporter Jess took part in the Eastbourne Half Marathon for Royal Surrey Charity. She shares her story about why she wanted to take on the challenge.

“My incredibly brave and resilient motherin-law, Lynn (or Lynnie to me), has been fighting a disease affecting her pancreas for the past 15 months - and boy has she fought!

In her own typical way, Lynn has defied so many odds and pushed her way through some really challenging times. Always smiling, never giving up or looking back, just continually living for what’s important to her: her strength and courage has inspired me to take action.

We are still navigating our way through this difficult time, but Lynn has already overcome so much. I truly believe this is predominantly down to her positive mental attitude and desire to win, but she wouldn’t be where she is today if it

weren’t for the many healthcare professionals who have looked after her along the way.

I chose to raise money for Royal Surrey Charity because the intensive care team at the Royal Surrey looked after Lynn following two major life-changing surgeries this year. These two occasions were by far the most frightening of mine and my family’s lives, but all the staff, and I mean ALL the staff, we encountered at the hospital before, during and after, gave us hope and comfort throughout (and at times offered a little humour - our favourite coping mechanism!).”

Thank you to Jess for taking on the challenge, and to everyone who has supported her and helped raise a wonderful £1,475.

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Financial review

Income

Total income for the year to 31 March 2024 was £1,441k (2021/22: £1,159k).

The chart below compares our sources of income from this year and last year. Further details are provided in note 2 of the financial statements. The key observations are that Legacy income has more than doubled, with an increase seen across all other income streams, with the exception of the NHS CT Community Grants, which were part of a 2 year programme which ended in 2022-23. The increases seen are due to the on-going work on increasing the Charity’s visibility throughout the Hospital and the continuation of the Cancer & Surgical Innovation Campaign.

Expenditure

Total expenditure for the year to 31 March 2024 was £1,063k (2022/23: £1,675k). Expenditure on raising funds amounted to £457k (2022/23: £394k) whilst expenditure on charitable activities (grants) totaled £606k (2022/23:£1,281k).

A large decrease in grants towards charitable activities was seen in 2023-24 compared to the previous year, mainly due to the lack of contribution towards a big project as was seen with the St Luke’s refurbishment (£521k) last financial year. However, the Charity was pleased to increase its support for Patient and Staff Welfare. The cost of raising funds also increased as the Charity was able to run more events, continue investing in the CASIC campaign and invest in improving the visibility of the Charity throughout the Hospital and surrounding areas. The NHS CT Community Grants were part of a 2 year programme which ended in 202223.

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----- Start of picture text -----
Analysis of Expenditure
2023/24 2022/23
£700,000
£600,000
£500,000
£400,000
£300,000
£200,000
£100,000
£0
Community Grants Raising Funds Staff Welfare Building & Patient Welfare Equipment
Refurbishment
----- End of picture text -----

Fundraising performance

Individual giving - £259k

Individual giving, which includes voluntary donations, regular gifts, and In Memory support, continues to face challenges due to the financial pressures many are experiencing. However, we saw a relatively reassuring performance in 2023-24. Much of this success is attributed to our Cancer and Surgical Innovation Campaign, which generated over £45k in response to our mailings. Individual Giving remains a vital part of Royal Surrey Charity’s fundraising portfolio, and we are immensely grateful to all who contribute to enhancing patient care at Royal Surrey.

Community fundraising - £80k

This year saw significant growth from 2022/23, with increased community engagement.

Huge thanks to the Friends of Royal Surrey Charity for organising a range of fundraising events throughout the year. One such event was the charity quiz and fish and chip supper in Cranleigh raising an amazing £2,300 to support the new cancer and surgical innovation campaign. Anne Gray, President of Rotary Club Godalming organised an event raising an incredible £4,000 for our patients and staff. Over 200 guests packed the Godalming Borough Hall to enjoy the Guildford School of Acting singers put on a ‘West End Show’ in aid of Royal Surrey Charity.

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Guildford Golf Club chose Royal Surrey Charity as its charity of the year and raised closed to £16,000 for our Breast Unit Fund. The money raised will fund Contrast Enhanced Mammography, a technique that offers improved lesion detection, accuracy of diagnosis of early breast cancer and ultimately better outcomes for our patients.

Individual supporters have continued to organise a range of fundraising events in support of various areas of the hospital. Cancer survivor, Lucinda, took part in the gruelling Race to the Stones 100km run challenge to fundraise for our Teenage and Young Adult Cancer Care Fund. Lucinda was only 26 when she found out she had a genetic ovarian cancer: an extremely rare type of cancer mainly found in children and women under 30. Now cancer free, after receiving what she describes, as ‘the most incredible care in every way possible’, Lucinda wanted to find a way to say ‘thank you’.

Amazing supporter Harry took on the Marbella Ironman, to thank staff on Wisley Ward after his Dad suffered a stroke.

Harry told us: ‘Dad spent five months on Wisley Ward and the staff were nothing short of incredible. I have always had admiration for NHS staff but witnessing their dedication, patience and compassion first hand was eye opening and heart-warming.’

Harry completed a challenging 1.8km swim, 90km cycle and 21km run and has raised a whopping £8,852 for our Medical and Older People’s Care Fund.

Events – £123k

We’ve had an event-packed year with some of the amazing events like Stride for Cancer Care, Cathedral Abseil, Skydive and other community led events such as Farnham Bike Ride, Easter egg tombola, Christmas Choral Concert and fundraising ball and a cricket match.

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Mark Saunders, who volunteers with us, has taken on fundraising challenges to further support our patients and staff. He has participated in the Cathedral Abseil, a 15,000ft skydive, and Stride for Cancer Care, raising over £1,100 last year. He says: ‘The NHS does so much for us, and NHS charities are vital in supporting it, so to be able to help them is really important to me.’

Jeremy Hunt, who has run the London Marathon for us three times now, raised an incredible £37,000 this year supporting our Cancer and Surgical Innovation campaign. Preparation for the new cancer and surgical innovation centre has already started at Royal Surrey which will be able to treat 7,000 more patients each year. The funds raised will help revolutionise surgery in Surrey and the South East and will help the new facility become one of Europe's leading surgical centres.

Our flagship event Stride for Cancer Care, which supports the Royal Surrey Cancer Centre, raised an amazing £45,000 last year. Sponsored by CBRE, 185 walkers took part in the event choosing from four distances – 5km, 10km, 15km and the ultimate challenge, 25km – with the longer routes taking in stunning views of the North Down’s Way and the Hog’s Back. Dr Sophie Otter, Chief of Service for Oncology, walked the 25km, along with other colleagues from Royal Surrey Cancer Centre. Speaking at the event, she said:

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‘We want to make sure Royal Surrey Cancer Centre is the most stress-free environment for patients who are going through really stressful occasions in their lives. Some of the money from today will go towards helping us develop some of those nicer bits – to make it a more peaceful environment – and also for some equipment and training for our staff as well.’

- Corporate fundraising £72k

We have seen steady growth with our corporate support, in particular with our internal trading, which is where external businesses set up a pop-up shop on our Guildford Hospital site and sell their goods. This area saw an impressive growth of £9,600 on last year, and now sees a waiting list.

We thank the companies that sponsored our Bees Knees Awards, which are a monthly staff award to recognise those staff who go above and beyond who work within Oncology. Thank you to Butter & Cream, All That Gleam, Ewbanks Auction, Thirst Link Ltd, Carrington Ltd and Lloyds Pharmacy Clinical Care.

Another big thanks to Fire Proof Studio who donated £5,000 to our Greatest Need Fund and who have been incredible supporters of the charity for 9 years.

We are delighted to have secured CBRE as our sponsor for our annual flagship walk, Stride for Cancer Care. Their fantastic support enabled us to diversify our promotional reach and increase our participation number. CBRE has agreed to be our sponsor for 2024 which is very exciting and will enable us to increase our reach further.

Charitable trusts - £216k

KatCanDo charity gave a grant to Radiotherapy of £4,000 to purchase an abdominal compression belt. This belt is like a large blood pressure cuff which applies gentle pressure onto the patient to make their breathing more shallow. This reduces the movement of their chest, while still allowing the patient to breathe throughout their treatment so they don’t have to hold their breathes for longer periods of time. We are extremely grateful to the KatCanDo charity for their donation. We are delighted that their generosity has allowed us to improve the quality of the Radiotherapy treatment we deliver to our patients.

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SC Johnson gave a grant of £3,000 to fund our Emergency Department sensory bags pilot. When a patient with learning disabilities or autism is in a strange, busy environment surrounded by new people, sounds and unfamiliar surroundings, they become overwhelmed, anxious and emotional. This can more often than not, result in what most people consider challenging or distressed behaviour. These sensory bag provide the patients with distraction and sensory relief as well as providing resources and tools that staff can use to engage and support this patient group. The bags contain sensory items such as ear defenders to help with noise, tactile objects to help with sensory needs, activity books such as puzzles and colouring activities, as well as communication aids to help the patient, their carer and NHS staff communicate effectively.

Thanks to Trustees and supporters of the charity, HASTE has hosted a number of high profile events, including an incredible concert, which featured Eric Clapton, Bob Geldof and Damon Hill, and raised £200,000.

HASTE’s incredible work and support has continued over the years. Having achieved many of its goals and securing a legacy of support for patients receiving cardiac care at Royal Surrey, the Trustees took the difficult decision to dissolve the charity last year. The Trustees were adamant that any remaining funds should be used to continue the excellent work of the charity, and they agreed to provide £139,968 in funding to Royal Surrey Charity’s Cardiac Care Fund.

We are incredibly grateful to the Trustees and to everyone who has supported HASTE over the years. Our Cardiac Care Fund supports people with heart conditions, who are cared for by our brilliant staff on the Cardiac Care Unit and Merrow Ward, as well as our outpatient services at Royal Surrey and our hospitals in the community at Haslemere and Cranleigh.

Legacies - £537k

The charity received an unexpectedly large amount of funding from gifts in wills, exceeding our initial expectations. We benefitted from 15 legacies, with two notable bequests totalling £334k.

While the exceptional performance of legacies in 2023-24 is likely to be a one-off, there is no doubt that legacy giving continues to have a profound and positive impact on the charity’s work. In November 2023, we held our second Make a Will Month, with over 50 people registering interest. This national campaign allows charities to highlight the importance of legacy giving, and we are deeply grateful to everyone who has shown interest.

Leaving a gift in a will is one of the most meaningful ways a supporter can make a lasting difference for future generations. We extend our heartfelt thanks to all those who have considered leaving a legacy to Royal Surrey Charity.

Major donors - £60k

With our focus on the Cancer and Surgical Innovation Campaign, we would like to give a special thanks to Mr & Mrs Lemar, who have donated an incredible £31,250 to this campaign, and Mrs Bartlett for her kind donation of £5,000. Donations like these are helping move this campaign forward and get us closer to our target for purchasing additional state-of-the-art theatre equipment.

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- Trading activities £28k

The charity’s trading activities focus on volunteer-led table top sales and themed cake sales, which are held on-site, at Royal Surrey County Hospital as well as the charity’s annual Christmas Card campaign. 2023/24 saw another healthy growth across our trading activities.

An incredible £28,000 was raised this year at our on-site tabletop sales. A huge amount of the items sold are kindly donated by our staff and community. Books, DVDs, jigsaw puzzles, bric-a-brac, children’s toys, games and much more are sold each week at the main entrance of the hospital. We also have volunteer knitters who support us by knitting, sewing and crocheting blankets. None of this would be possible without our wonderful team of volunteers, as these sales are totally volunteer-run. This type of support helps the charity to keep its costs at a minimum and maximize the support we can give to the various wards and departments across the Trust.

Developments since year-end

Royal Surrey Charity is committed to making a real difference for patients and staff at Royal Surrey NHS Foundation Trust, and we’ve been working hard to grow our impact. We are now one year into our ambitious three-year strategy (2023-26), and we’re excited about the journey ahead. With the dedication of our supporters and close collaboration with Trust staff, we’re focused on achieving our goals to enhance care, support staff, and strengthen the charity’s future.

Our key strategic goals for 2023-26:

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2023-24 objectives:

Progress so far:

As we move forward, we’re excited about the future and the opportunities ahead to continue enhancing the support we offer to patients and staff at Royal Surrey NHS Foundation Trust.

Managing the money

The financial statements have been produced in accordance with the Charities SORP FRS 102 (SORP FRS 102) and the Charities Act 2011.

SORP FRS 102 requires the recognition of three major types of charitable funds:

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The Charity received £217k in restricted funds during 2023/24, consisting of:

Designated funds are unrestricted funds, set aside for a specific purpose, but in an administrative capacity only so the Trustee has the freedom to change their use if the need arises. This allows the Charity to respond flexibly to changing times and circumstances and make more grants to benefit patients and staff.

SORP FRS102 requires three primary accounting statements:

All three statements have been produced and are supported by notes detailing the accounting policies and any additional information.

Reserves policy

The Charity’s reserves policy seeks to balance two requirements: to ensure that funds raised are used promptly to further the Charity’s objectives, and to hold sufficient free reserves to allow the fundraising operations of the Charity to continue for at least one year. Total reserves required are estimated at £650k. This covers administration and fundraising costs (£450k) and general grants (£200k), excluding specific appeals, for a one-year period. These reserves protect the Charity from an unexpected fall in income, although this risk is limited as the Charity does not enter into longterm spending commitments and tailors its expenditure to funds available. In addition, expenditure is closely monitored with no fund manager able to spend funds without it first being reviewed by a member of the Finance team.

The Charity ended the year with funds totalling £2,408k (2022/23: £1,994k). As of March 31st 2024, there were £1,515k (2022/23: £1,184k) of designated funds within the Charity’s unrestricted funds, including a £440k legacy, a £140k donation from a local dissolved Charity and substantial Legacy income for the Royal Surrey Cancer Centre (£150k) plus various other funds covering specific wards and departments within the hospital. The Charity ended the year with £411k (2022/23: £267k) in Restricted Funds, with the majority being held in the Cancer & Surgical Innovation Centre Fund (£385k).

The Trustee treats unrestricted and undesignated funds as free reserves. Therefore, the level of free reserves as of 31st March 2024 was £482k (2022/23: £543k).

Although the level of free reserves is slightly lower than the desired value, the amount of unrestricted, undesignated funds is expected to increase with the launch of an ambitious Royal Surrey Lottery in the 2024-25 financial year. Any risk is also limited due to the Charity only entering in to spending commitments which align with available funds.

The reserves policy is reviewed by the Trustee annually.

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Investments policy and performance

The Charity’s investments are managed on a day to day basis by Sarasin & Partners within parameters laid down by the Trustee through a management agreement. Investment assets are invested with the objective of maximising the total return in a manner consistent with prudent investment in a diversified portfolio of securities. Quarterly reports are provided by Sarasin & Partners and reviewed by the Trustees. Under the terms of the management agreement, Sarasin & Partners are not permitted to invest in the securities of companies who have significant involvement in the tobacco industry. They may not advise on or execute transactions directly in options, futures or contracts for difference. Neither are they allowed to underwrite on behalf of The Charity.

The Charity’s investments produced a total return for the year to 31st March 2024 of +9.5% after all fees and costs and +27.5% over the past five years. This return is a combination of the two separate portfolios. The long-term portfolio is invested via the Sarasin Endowments Fund, which produced a total return of +10.7% over twelve months. This was behind the indexbased benchmark return of +15.5% and ahead of the ARC Steady Growth Charity Peer Group return of +9.4%. The Medium Term fund was liquidated earlier this year, and was previously invested via the Sarasin Multi Asset Strategic Fund.

The investment objective of the ‘Sarasin Endowments Fund’ is to achieve long-term capital and income growth, through a broadly diversified global portfolio.

Investment performance summary

During 2023/24, and instigated by the substantial losses made in the previous financial year (£164k loss), a decision was made by the Corporate Trustee, on recommendation from the Charity Investment Working Group, to liquidate the majority of our Fixed Asset Investments (£1.5m, managed by Sarasin & Partner). The cash was moved to a high interest deposit account to reduce risk of capital loss and take advantage of current high Bank of England base interest rates. This action removed all investments from the Medium Term Fund and left a small amount in the Endowment Fund.

The valuation carried out for the financial year ended 31 March 2024 saw the Charity make a gain of £36k on its remaining investments (2022/23:£164k loss). An analysis of investments is provided in note 5 of the financial statements. Investment income for the year amounted to £51k (2022/23: £49k). All these elements combined resulted in a value as at 31 March 2024 for the Charity’s investments of £266k (2022/23: £1,781k).

21

Structure, governance and management

The Accounting and Reporting by Charities: Statement of Recommended Practice (Revised 2015), hereafter referred to as SORP FRS 102, requires the Charity to produce an annual report and accounts in accordance with the legislative requirements set out in the Charities Act 2011 (England and Wales). The accounts presented are in the format laid down by the Charity Commission and are in accordance with the SORP FRS 102. The Charity was established on 1st April 1996, through a transfer of property from the West Surrey Health Authority, and is registered under the Charities Act 2011 (registration number 1049776). This transfer was enacted under Statutory Instrument 1996 No. 1708. The Charity was registered with the Charity Commission on 5 March 1998 and includes funds in respect of the Royal Surrey County Hospital NHS Foundation Trust.

The Charity’s governing document is a declaration of trust dated 4th August 1995.

Our Trustee

The Corporate Trustee of the Charity is the Royal Surrey NHS Foundation Trust, whose registered address is Egerton Road, Guildford, Surrey GU2 7XX.

The Trustee consists of a Board of Directors of which every voting member has a vote on all matters affecting the Charity. The Trust’s Board aims to meet in its capacity as the Charity Corporate Trustee at least twice a year. The Trustee has been appointed under section 11 of the NHS and Community Care Act 1990 and acts as Corporate Trustee of the funds held on trust under schedule 2, paragraph 16c, of this Act.

During the reporting period of this report the voting constitution was as follows:

22

When a person is appointed to the Board of the Royal Surrey NHS Foundation Trust, they automatically become part of the voting constitution of the Charity. They are not independently appointed by the Charity. Terms of reference for the Trustee have been developed and are reviewed annually which clearly set out the roles and responsibilities of the Corporate Trustee.

Terms of reference for the Trustee have been developed and are reviewed annually which clearly set out the roles and responsibilities of the Corporate Trustee.

Risk assessment

The Corporate Trustee has undertaken a risk assessment as required under the SORP FRS102. The following have been identified as the main risks facing the Charity:

  1. Income targets not achieved

  2. Reduced fundraising income due to external economic factors

  3. Financial risk due to investment volatility

  4. Administrators fail to observe authorisation limits delegated by the Trustee

  5. Misrepresentation of the Charity by external fundraisers

  6. Erroneous tax claims under the gift aid legislation

  7. Risk of reputational damage due to official communications to deceased donors

  8. Breach of GDPR

Systems have been put in place to mitigate these risks:

23

Reference and administration details

Finance queries should be directed to: Charitable Fund Accountant Finance Department Royal Surrey County Hospital Egerton Road Guildford Surrey GU2 7XX

Telephone: 01483 571122 x 2382

Our advisors

The following professional advisers have been employed during the financial year:

Bankers

The Royal Bank of Scotland Plc Guildford Branch 10 North Street Guildford GU1 4AF

Lloyds Bank Guildford Branch 147 High Street Guildford GU1 3AG

Internal auditor

BDO LLP 55 Baker Street London W1U 7EU

Investment manager

Sarasin & Partners LLP Juxon House 100 St Paul’s Churchyard London EC4M 8BU

External auditor

KPMG LLP Public Sector Audit 15 Canada Square Canary Wharf London E14 5GL

24

How to support Royal Surrey Charity

At Royal Surrey Charity we always love to speak to new and existing supporters and help to ensure your fundraising is a success.

If you would like to support us or share your experience at the Trust, please get in touch:

Email: rsch.charity@nhs.net Website: royalsurreycharity.org.uk Facebook: @royalsurreycharity Instagram: @royalsurreycharity Twitter: @RSCharity

Postal address: Royal Surrey Charity Royal Surrey County Hospital Egerton Road Guildford GU2 7XX

Phone: 01483 464146

Financial statements

These are set out on the following pages and show the respective responsibilities of the Trustee and Auditor in relation to the Financial Statements.

Signed on behalf of the Trustee:

Name: Joss Bigmore

Position: Chairman

Date: 4[th] December 2024

25

FINANCIAL STATEMENTS - 2023/24

Statement of Trustee's Responsibilities in respect of the Trustee's annual report and financial statements

Under the trust deed and rules of charity law, the trustee is responsible for preparing a Trustees' Annual Report and the financial statements in accordance with applicable law and regulations. The trustees is required to prepare the financial statements in accordance with UK Accounting Standards, including FRS2 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 trustee:

The trustee is required to act in accordance with the trust deed 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 trustee 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 trustee is 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.

By Order of the Trustee

Signed: Chair* ………………………………………………….. sit Date …….. 4th December 2024 …….. Trustee ………………………………………………… Date …….. 4th December 2024 …….. LM Sed

*the Board may authorise another trustee to sign in place of the Chairman.

26

FINANCIAL STATEMENTS - 2023/24

Independent auditor's report to the Trustee of the Royal Surrey Charity

Opinion

We have audited the charity financial statements of Royal Surrey 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 responsiblities 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 abilitiy 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 trustee's 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:

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 homogenous nature of the Charity's revenue. The recognition of revenue closely aligns to cash received in year. We did not identify any additional fraud risks.

27

FINANCIAL STATEMENTS - 2023/24

Independent auditor's report to the Corporate Trustee of the Royal Surrey Charity

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 hae 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 noncompliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

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 noncompliance 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 and 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-complaince 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 standard 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-complaince 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.

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.

28

FINANCIAL STATEMENTS - 2023/24

Independent auditor's report to the Corporate Trustee of the Royal Surrey County Hospital's Charitable

Trustee's Responsibilities

As explained more fully in its statement set out on page 26, 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 responsibilties

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. Mistatements 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

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 that we might state to the charity's trustee those matters which 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.

Signed: ………………………………………………

06 December 2024 Date …………………...…………………….

Jessica Hargeaves 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

29

FINANCIAL STATEMENTS - 2023/24

Statement of Financial Activities for the year ended 31 March 2024

2023-24
Note
Unrestricted
Restricted
Total
Funds
Funds
Funds
£000
£000
£000
Income from:
Donations & Legacies
2.1
1,130
217
1,347
NHS CT Stage 2 Grants
2.1
0
0
0
Other Trading Activities
2.2
28
0
28
Investments
2.3
51
0
51
Other
2.4
15
0
15
Total Income
1,224
217
1,441
Expenditure on:
Raising Funds
3.1
393
64
457
Charitable Activities:
3.2
597
9
606
NHS CT Stage 2 Grants
3.2
0
0
0
Total Expenditure
990
73
1,063
Net Gains/(Losses) on Investments
36
0
36
Net Income/(Expenditure)
270
144
414
Net Movement in Funds
270
144
414
Reconciliation of Funds
1,727
267
1,994
Fund Balances Carried Forward at 31 March
1,997
411
2,408
Fund Balances Brought Forward at 1 April		 Unrestricted
Funds
£000		 Restricted
Funds
£000
243
242
0
0
0
485
35
25
245
305
0
180
180
87
267		 2022-23
Total
Funds
£000
840
242
26
49
2
597
0
26
49
2
674
359
1,011
0
1,370
(164)
(860)
(860)
2,587
1,727
1,159
394
1,036
245
1,675
(164)
(680)
(680)
2,674
1,994

All incoming resources and resources expended are derived from continuing activities.

The statement of financial activities includes all gains and losses recognised in the year and incorporates an income and expenditure account.

There is no difference between the net incoming/(outgoing) resources for the year stated above and its historical cost equivalent.

30

FINANCIAL STATEMENTS - 2023/24

Balance Sheet as at 31 March 2024

31 March 2024 31 March 2024 31 March 2023
Note Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
£000 £000 £000 £000 £000 £000
Fixed Assets
Investments 5 266 0 266 1,779 2 1,781
Total Fixed Assets 266 0 266 1,779 2 1,781
Current Assets
Debtors 6 10 10 20 2 1 3
Cash at Bank and in Hand 1,897 404 2,301 587 270 857
Total Current Assets 1,907 414 2,321 589 271 860
Liabilities
Creditors:
Amounts falling due within
one year 7 176 3 179 641 6 647
Net Current Assets/(Liabilities) 1,731 411 2,142 (52) 265 213
Total Assets less Current Liabilities 1,997 411 2,408 1,727 267 1,994
Total Net Assets 1,997 411 2,408 1,727 267 1,994
The Funds of The Charity
Restricted Funds 0 411 411 0 267 267
Unrestricted Funds 1,997 0 1,997 1,727 0 1,727
Total Funds 1,997 411 2,408 1,727 267 1,994

The financial statements on pages 30 to 32 and associated notes to the financial statements on pages 33 to 43 were approved by the Trustee on 28th November 2024 and signed on their behalf.

Signed:

Trustee ………………………………………………………. Jf Trustee ………………………………………………………. Lt sted

Date: …….. 4th December 2024 ……..

31

FINANCIAL STATEMENTS - 2023/24

Statement of Cash Flows for the year ended 31 March 2024

2023-24
2022-23
Cash flows from operating activities:
Net cash provided by (used in) operating activities:
Cash flows from investing activities:
Investment Income
Proceeds from sale of investments
Purchase of Investments
Net cash provided by (used in) investing 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
£000
£000
(158)
21
51
49
1,551
0
0
(4)
1,602
45
1,444
66
857
791
2,301
857

Reconciliation of net income/(expenditure) to net cash flow from operating activities

Net income/(expenditure) for the year (as per the SoFA)
Adjustments for:
(Gains)/losses on investments
Investment Income
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by (used in) operating activities		 2023-24
2022-23
£000
£000
414
(680)
(36)
164
(51)
(49)
(17)
4
(468)
582
(158)
21

The accompanying notes on pages 33 to 43 form part of these financial statements.

32

FINANCIAL STATEMENTS - 2023/24

NOTES TO THE FINANCIAL STATEMENTS

1. Accounting Policies

1.1 Accounting Convention

The Charity is a public benefit entity.

These financial statements have been prepared under the historic cost convention, as modified for the revaluation of certain investments, and in accordance with applicable United Kingdom accounting standards and policies for the NHS approved by the Secretary of State and the Statement of Recommended Practice (SORP 2015) "Accounting and Reporting by Charities" issued by the Charities Commissioners in 2019.

The accounts (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 (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial Statements have been prepared on a going concern basis which the Trustee considers 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 committments and no committed costs beyond its fixed costs of operation which are detailed in Note 3.4. The Trustee has 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 Trustee has 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 futher funding is received in the 12 month period, the charity has sufficient cash reserves to pay all committed costs.

1.2 Incoming Resources

Income from non-exchange transactions (gifts) are donations of money, goods, facilities or services which are given freely to The Charity by a donor. All incoming resources are included in full in the Statement of Financial Activities as soon as the following three factors can be met:

i) entitlement - arises when a particular resource is receivable or The Charity's right becomes legally enforceable;

ii) probable - when there is reasonable probability that the incoming resource will be received;

iii) measurement - when the monetary value of the incoming resources can be measured with sufficient reliability.

Gifts in Kind

iv)

Assets given for distribution by the funds are included in the Statement of Financial Activities only when distributed.

In all cases the amount at which gifts in kind are brought into account is either a reasonable estimate of their market value or the amount actually realised.

33

FINANCIAL STATEMENTS - 2023/24

1.2 Incoming Resources (continued)

b) Legacies

Legacies are accounted for as incoming resources once the receipt of the legacy becomes probable. This will be once confirmation has been received from the representatives of the estate that payment of the legacy will be made or property transferred and once all conditions attached to the legacy have been fulfilled.

Where a legacy has been made to The Charity but the legacy is subject to a life interest, the income is not recognised in the Statement of Financial Activities until the life interest has come to an end.

Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be before the income is recognised as the entitlement condition will not be met 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.

c) Other Trading Activities

This income is recognised on sale of goods and for events in line with when they take place.

Investment income is recognised when receivable and allocated to funds in accordance with their investment holding.

1.3 Resources Expended

The funds held on trust accounts are prepared in accordance with the accruals concept. All expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party resulting from a past event. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

a) Raising funds

The cost of raising funds are the costs associated with generating income for the funds held on trust. This will include the costs associated with fundraising activities, including staff directly involved. Staff costs are apportioned on the basis of time spent fundraising for specific funds.

b) Charitable activities

Charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for for the benefit of the beneficiaries. Charitable Grants payable are payments made to the Royal Surrey County Hospital in the furtherance of the funds held on trust's charitable objectives to support the service provided by the hospital. They are accounted for on an accruals basis where the hospital has a reasonable expectation that it will receive the grant.

c) Support costs

basis and are the recharges of appropriate proportions of salaries, external audit and internal audit fees (if applicable) incurred by the Royal Surrey County Hospital. Costs are allocated to funds by way of an apportionment of the cost according to the average balance of each respective fund and split between cost of raising funds and charitable activities. The analysis of support costs and the basis of apportionment applied are shown in note 3.

34

FINANCIAL STATEMENTS - 2023/24

1.4 Structure of Funds

Where there is a legal restriction on the purpose to which a fund may be used, the fund is classified in the accounts as a restricted fund. Funds where the capital is held to generate income for charitable purposes and cannot itself be spent are accounted for as endowment funds. Funds which are not legally restricted but which the Trustee has chosen to earmark for set purposes or which reflect the non-binding wishes of donors are classified as designated funds. All other funds are classified as unrestricted funds. The major funds held within these categories are disclosed in note 8.

1.5 Fixed Assets

The Charity does not own any fixed assets.

1.6 Fixed Asset Investments

Fixed asset investments are initially recognised at their transaction value and are subsequently measured at their fair value (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. The Charity's investments comprise of two common investment funds, with the underlying investments made up of quoted stocks and shares.

1.7 Realised and Unrealised 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 (or date of purchase if later). Unrealised gains and losses are calculated as the difference between market value at the year end and opening market value (or date of purchase if later).

1.8 Debtors

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

1.9 Cash and cash equivalents

Cash at bank and in hand is held to meet the day to day running costs of The Charity as they fall due. Cash equivalents are short term, highly liquid investments, usually in 90 day notice interest bearing savings accounts.

1.10 Creditors

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.

1.11 Change in the Basis of Accounting

There has been no change in the basis of accounting during the year.

1.12 Prior Year Adjustments

There are no prior year adjustments reported in this financial year.

35

FINANCIAL STATEMENTS - 2023/24

1.13 Irrecoverable VAT

Irrecoverable VAT is included in Resources Expended.

1.14 Related Party Transactions

The Charity made revenue and capital payments to the Royal Surrey County Hospital NHS Foundation Trust, the Corporate Trustee of The Charity. The Royal Surrey County Hospital NHS Foundation Trust provides financial services and fundraising support to the Charity, which are dealt with as financial recharges and disclosed within note 3 of The Charity's accounts. As at 31 March 2024 £149k (31 March 2023 £606k) was owed by The Charity to the Trust in respect of payments made by the Trust on behalf of The Charity.

Royal Surrey NHS Foundation Trust Board during 2023/24 and up to the date of the annual report:

L Stead - Chief Executive Officer

J Bigmore - Chair A Prince - Deputy Chair (NED) N Amir - Non-Executive Director (From November 2023) R Dunworth - Finance Director and Deputy Chief Executive Officer

J Mountjoy - Chief Nurse B Jewsbury - Medical Director M Jarratt - Chief Operating Officer L Hall - Director of HR & Organisational Development (Until August 2024) T White - Director of HR & Organisational Development (From August 2024) H Webber - Non-Executive Director L Goldstone - Non-Executive Director M Hedley - Non-Executive Director J Dutchman-Bailey - Non-Executive Director B Russell - Non-Executive Director ( Until July 2023)

During the year, neither the Trustee or members of the key management staff or parties related to them have undertaken any material transactions with the Royal Surrey County Hospital Charitable Trust.

1.15 Taxation

The Charity is considered to pass the tests set out in Schedule 6, Paragraph 1 of the Finance Act 2010 and therefore it meets the definition of a charitable trust for UK income tax purposes. Accordingly, The Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Part 10 of the Income Tax Act 2007 or Section 256 of the Taxation of Charitable Gains Act, to the extent that such income or gains are applied exclusively to charitable purposes.

36

FINANCIAL STATEMENTS - 2023/24

2. Analysis of Income

2.1 Income from donations and legacies

Donations from Individuals
Legacies
Corporates
Trusts
NHS CT Stage 2 Grants
Total Donations and Legacies
2.2 Income from other trading activities
RSCH Fundraising/Trading Activities
Total Other Trading Activities
2.3 Income from Investments
Income from Dividends & Securities
Total Income from Investments
2.4 Other Income
Bank Interest
Total Other Income		 Unrestricted
Funds
2023-24
£000		 Restricted
Funds
2023-24
£000		 Total
Funds
2023-24
£000
522
537
72
216
0
1,347
Total
Funds
2023-24
£000
28
28
Total
Funds
2023-24
£000
51
51
Total
Funds
2023-24
£000
15
15		 Total
Funds
2022-23
£000
428
241
53
118
242
356 166
537 0
65 7
172
0
1,130
Unrestricted
Funds
2023-24
£000
28
28
Unrestricted
Funds
2023-24
51
51
Unrestricted
Funds
2023-24
£000
15
15		 44
0
217
Restricted
Funds
2023-24
£000
0
0
Restricted
Funds
2023-24
0
0
Restricted
Funds
2023-24
£000
0
0
1,082
Total
Funds
2022-23
£000
26
26
Total
Funds
2022-23
£000
49
49
Total
Funds
2022-23
£000
2
2

2.5 Role of volunteers

Fund administrator – there are approximately 100 RSCH FT staff who manage how the Charity’s unrestricted and designated funds are spent. Each fund administrator has delegated powers to spend the funds that they manage, in accordance with the donors wishes, up to a value of £5,000. Fund administrators who wish to spend more than £5,000 are required to produce a business case for the Trust's Chief Executive/Charitable Funds Committee/Charity Trustee setting out what impact it will have in terms of furthering the charity's objectives.

Fundraisers - there are about 15 local volunteers who actively support the fundraising team with various fundraising events and activities. The fundraisers also distribute and retrieve collecting tins in the local community.

In accordance with the SORP FRS 102, due to the absence of any reliable measurement basis, the contribution of these volunteers is not recognised in the accounts.

37

FINANCIAL STATEMENTS - 2023/24

3. Analysis of Expenditure

3.1 Expenditure on Raising Funds

Fundraising Salary Costs paid by RSCH
Fundraising Events
Fundraising Office
Fundraising Donor Development
Support Costs
Total Expenditure on Raising Funds		 Unrestricted
Funds
2023-24
£000
281
31
33
31
17
393		 Restricted
Funds
2023-24
£000
47
0
9
6
2
64		 Total
Funds
2023-24
£000
328
31
42
37
19
457		 Total
Funds
2022-23
£000
285
25
35
32
17
394

Fundraising Salary Costs, which are paid by the Royal Surrey County Hospital and recharged to The Charity, can be further broken down into the following categories:

Salaries & Wages
Social Security Costs
Total
Contributions to NHS Business Services Authority - Pensions Division		 2023-24
£000
266
34
28
328		 2022-23
£000
230
29
26
285

The number of whole time equivalent staff involved in fundraising for the 2023/24 financial year was 6 (2022/23: 5).

3.2 Expenditure on Charitable Activities

Grant to RSCH - Patient Experience, Treatment & Welfare
Grant to RSCH - Staff Education & Welfare
Grant to RSCH - Equipment
Grant to RSCH - Building & Refurbishment
Community Welfare Grants (NHS CT Stage 2 Grant)
Support Costs
Total Charitable Activities		 Unrestricted
Restricted
Funds
Funds
2023-24
2023-24
£000
£000
221
0
125
0
113
0
68
0
0
0
70
9
597
9		 Total
Funds
2023-24
£000
221
125
113
68
0
79
606		 Total
Funds
2022-23
£000
111
102
146
605
245
72
1,281

3.3 Anaylsis of Grants

The Charity provided grants in favour of the partner organisation, the Royal Surrey County Hospital NHS FT, to carry out activities that will benefit NHS patients and their families in futherance of our Charitable aims. The total cost of making grants, including support costs, is disclosed on the face of the SoFA and the actual funds spent on each category of charitable activity, including the associated support cost, are disclosed in note 3.3.

Grant to RSCH - Patient Education & Welfare
Grant to RSCH - Staff Education & Welfare
Grant to RSCH - Equipment
Grant to RSCH - Building & Refurbishment
Community Welfare Grants		 Grant Funded
Activity
2023-24
£000
221
125
113
68
0
527		 Support
Costs
2023-24
£000
33
19
17
10
0
79		 Total
Funds
2023-24
£000
254
144
130
78
0
606		 Total
Funds
2022-23
£000
117
108
155
641
260
1,281

38

FINANCIAL STATEMENTS - 2023/24

3.4 Allocation of Support Costs

Support and overhead costs are allocated between fundraising activities and charitable activities. Governance costs are those which relate to the strategic and day to day management of a Charity.

The bases of allocation used are as follows:

Apportionment Based on the average fund balance throughout the financial year Time Assessment of actual time spent supporting either the raising of funds or the charitable activities of The Charity Direct Allocation Where a cost is wholly attributed to a particular activity

External Audit Fee
Trustee & Financial Administration
Governance Total
Finance
IT Systems
Bank Charges
Support Costs Total		 Raising
Funds
2023-24
£000
3
0
3
14
1
1
19		 Charitable
Activities
2023-24
£000
3
30
33
43
1
2
79		 Total
Basis
2023-24
£000
6
Apportionment & Time
30
Time
36
57
Time
2
Apportionment & Time
3
Direct Allocation
98

External audit services are provided by KPMG LLP. For the 2023/24 financial year the fee received was £5,445 (2022/23 £4,950) net of VAT. No other services are provided by the Auditor to the Charity.

The Trustee & financial administration charge represents the time spent by both the RSCH Board of Directors and relevant RSCH support staff in the governance of The Charity. During 23/24 no remuneration or expenses were paid to members of the RSCH Board whilst acting in their capacity as Charity Trustee.

The finance service is provided to The Charity by the Finance Department of the RSCH. Costs are identified based upon the actual time spent by the Trust providing the service. This cost is then apportioned to the individual funds based upon an average fund balance and then further sub divided into the reported categories through an analysis of the transactions undertaken.

No Employees had emoluments in excess of £60,000 (2022/23: none)

39

FINANCIAL STATEMENTS - 2023/24

4. Fixed Assets

The Charity has no tangible fixed assets.

5. Fixed Asset Investments

5.1 Analysis of fixed asset investments

Fixed Asset Investments:
Market value at 1 April
Add: Additions to investments at cost
Less: Disposals at carrying value
Net gain/(loss) on revaluation
Market value at 31 March
Historic cost at 31 March		 2024
£000
1,781
0
(1,551)
36
266
144		 2023
£000
1,941
4
0
(164)
1,781
1,234

5.2 Market value at 31 March

Investments listed on Stock Exchange
Cash held as part of the investment portfolio
5.3 Total gross income from investments
Investments listed on Stock Exchange		 Held
in UK
£000
266
0
266
Held
in UK
£000
51
51		 Held
outside UK
£000
0
0
0
Held
outside UK
£000
0
0		 2024
Total
£000
266
0
266
2023-24
Total
£000
51
51		 2023
Total
£000
1,780
1
1,781
2022-23
Total
£000
49
49

The Charity's investments are held in the following common investment funds :

Sarasin Alpha Common Investment Fund for Endowments (Income Units)

£000 266

5.4 Investment Management Costs

The Investment Manager, under the terms of the management agreement, is permitted to charge The Charity an annual fee of 0.75% for the first £3million of investment assets being managed. The fee on the next £2million falls to 0.6%. This fee is reduced by any fees earned by the Investment Manager from the management of Alpha Common Investment Funds. During both the 2022/23 and 2023/24 financial years the value of such fees has exceeded the management fee charge, resulting in a nil management fee to The Charity.

40

FINANCIAL STATEMENTS - 2023/24

6. Analysis of Debtors

Amounts falling due within one year:
Accrued income
Total debtors falling due within one year
Total debtors
7. Analysis of Creditors
Amounts falling due within one year:
Amounts due to connected organisations (RSCH)
Other creditors
Accruals
Total creditors falling due within one year
Total creditors		 31 March
2024
£000
20
20
20
31 March
2024
£000
149
5
25
179
179		 31 March
2023
£000
3
3
3
31 March
2023
£000
606
3
38
647
647

8. Analysis of Funds

8.1 Endowment funds

The Charity has no endowment funds

8.2 Funds Structure

Material Designated Funds
Anthony Gordon Middleton Legacy
Breast Unit
Cardiac Care Fund
Cardiac Care Fund - HASTE
Covid-19 Acott Foundation
Covid-19 Pandemic
Frensham Ward
Piccitto Legacy
St Luke's Cancer Centre
TYAC
Urology
Other Designated Funds
Total Designated Funds
Unrestricted - Non-Designated Funds
Restricted Funds
NHS CT Development Grant
Cancer & Surgical Innovation Centre
ED Sensory Bags Project
Endo Cancer Risk Research
Total Restricted Funds
Total Funds		 Balance
Income
Expenditure
Transfers
Gains and
Balance
1 April
Losses
31 March
2023
2024
£000
£000
£000
£000
£000
£000
180
0
(137)
0
0
43
95
24
(32)
0
0
87
13
96
(23)
0
0
86
0
140
0
0
0
140
33
0
(33)
0
0
0
62
2
(8)
0
0
56
41
0
(16)
0
0
25
363
152
(75)
0
0
440
119
279
(83)
0
0
315
76
61
(38)
0
0
99
37
91
(15)
0
0
113
202
48
(139)
0
0
111
1,221
893
(599)
0
0
1,515
506
331
(391)
0
36
482
0
30
(12)
0
0
18
262
184
(61)
0
0
385
0
3
0
0
0
3
0
0
0
0
0
0
5
0
0
0
0
5
267
217
(73)
0
0
411
1,994
1,441
(1,063)
0
36
2,408

41

FINANCIAL STATEMENTS - 2023/24

8.3 Details of Restricted Funds

In 2023/24 the Charity received a grant from NHS Charities Together following a successful application under the Development Grant Programme. A grant for £30k was received and placed in a restricted fund as per the request of the grant giving body for use in appointing a Grants and Communications Officer which was successfully achieved in Oct 2023. The Cancer & Surgical Innovation Centre campaign continued, which will enchance theatre capacity and improve patient experience. The new centre will allow the Royal Surrey Hospital to expand its specialist cancer capacity as well as dramatically improving its facilities for benign and emergency surgery. The Charity also received a restricted grant for a Sensory Bags Project for the Emergency Department.

8.4 Details of Material Designated Funds

Name of fund
St Luke's Cancer Centre
Cardiac Care Fund
Cardiac Care Fund - HASTE
Covid-19 Pandemic/Staff Wellbeing Fund
Anthony Middleton Legacy
Breast Unit
Frensham Ward
TYAC
Piccitto Legacy
8.5 Other designated funds
8.6 Unrestricted Funds		 Description of the nature and purpose of each fund
Wholly or mainly for the services provided by the Frensham Ward of the Royal
Surrey Hospital including a generous legacy donation designated to this ward
which was used to complete a refurbishment of the ward during 2020/21.
Wholly or mainly for the services provided by the Teenage & Young Adult
Cancer Ward of the Royal Surrey Hospital.
Wholly or mainly for the cancer services provided by the Royal Surrey Hospital.
Initially established as an appeal for a Tomosynthesis Machine which was
purchased in 2015, this fund is designated to the on-going needs of the Breast
Unit patients and staff.
Wholly or mainly for the services provided by the Cardiac Care Dept. of the
Royal Surrey Hospital.
This was established in response to the extraordinary support received from the
public during the Covid-19 pandemic. The fund was and continues to be used to
support staff health and well-being and patient care.
This fund has been designated to support the Transformation Team with a
Bid4Better Scheme launched this year in which staff are invited to submit project
ideas for consideration for Charitable funding; with the intention of improving
patient care.
These relate to improving the treatment and experience of patients on wards and
departments within the hospital for which donors have indicated their non-
binding wishes when making their generous gifts.
Includes all donations for which a donor has not expressed any preference to
how the funds shall be spent.
This was established following a very generous donation where the will made a
non-binding wish for it to be used for training Chemotherapy Nurses on
Chilworth Ward as well as the general requirements of the hospital.
This grant was made following the dissolving of HASTE Charity (1105396). The
fund is to be used to undertake activities that advance the prevention and
treatment of, recovery from and rehabilitation after heart attacks and strokes.

9. Contingencies

There are no contingent gains or losses to report.

10. Commitments and Liabilities

The Charity has no commitments being carried forward into the 2023/24 financial year.

The Trustee recognise liabilities in the accounts once they have incurred either a legal or constructive obligation to expend funds.

42

FINANCIAL STATEMENTS - 2023/24

11. Trustee and Connected Persons Transactions

11.1 Trustee expenses reimbursed

No expenses were reimbursed to members of the RSCH Trust Board, the corporate Trustee, or any connected persons in either this or the previous financial year.

11.2 Trustee remuneration

No remuneration payments were made to members of the RSCH Trust Board or any connected persons.

11.3 Transactions with Trustees or connected persons

No transactions took place between the charity and either a member of the RSCH Trust Board or a connected person.

11.4 Trustee Indemnity Insurance

Trustee indemnity insurance has not been purchased.

12. Loans or Guarantees Secured Against Assets of the Charity

The Charity has no assets with which it can provide security to a third party.

13. Connected Organisations

Name, nature of connection, description of activities
undertaken and details of any qualifications expressed
by their auditors		 2023-24 2023-24 2022-23 2022-23
Turnover of
Connected
Organisation
£		 Net Profit/(Loss)
for the
Connected
Organisation
£		 Turnover of
Connected
Organisation
£		 Net Profit/(Loss)
for the
Connected
Organisation
£
Royal Surrey County Hospital NHS Foundation Trust,
beneficiary from the activities of the charity and provider
of
healthcare
to
the
residents
of
Guildford
and
surrounding areas		 576,089 647,000 531,875 (40,000)

As at 31 March 2024 £149k (31 March 2023 £606k) was owed by The Charity to the Royal Surrey County Hospital in respect of payments made by the Trust on behalf of The Charity.

14. Other

On a historic basis donations and legacies cannot be relied upon to meet the financial objectives of the Charity. Expenditure plans from all administrators will be obtained each year and compared against the available funds held by The Charity. Where the funds exceed the budgeted expenditure the Trustee will invest the funds in line with its investment policy. Where the balance of funds exceeds the budgeted expenditure set out in the annual plan, by a significant margin, the Trustee will request a business plan from the administrator of the fund justifying the level of reserves held. The Trustee will consider whether this level of reserve is justified in the light of the proposed business plan and will take appropriate action. The Trustee will review this policy annually and in the light of guidance that may be set by the Charity Commission from time to time.

43