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2023-03-31-accounts

The Walton Centre Charity Annual Report and Accounts 2022/23

A charity supporter taking part in the Walk for Walton event.

The Walton Centre Charity Annual Report and Accounts 2022/23

Welcome to The Walton Centre Charity Annual Report for 2022/23

As the world began to emerge from the Covid-19 pandemic The Walton Centre Charity was delighted to be able to start to return to more normal fundraising activities, and see more of our fundraisers in person!

As the world began to emerge from the Covid-19 pandemic The Walton Centre Charity was delighted to be able to start to return to more normal fundraising activities, and see more of our fundraisers in person!

Walk for Walton supported the Home from Home relatives’ accommodation which continued to provide an enormous benefit to the families of patients who value enormously the ability to stay close to their loved ones at such a difficult time.

We value however and whenever people support us, the kindness and generosity means so much to everyone at The Walton Centre and makes an enormous difference to patients and their families, now and in the future. Thank you.

The past few years have been incredibly difficult for so many people and we appreciate the support our fundraisers, donors and volunteers have given us during this time as we know it’s been very hard for people in different ways.

In 2022 we were able to bring back our annual Charity Golf Day at Formby Golf Club, in May, and once again hold the annual Jan Fairclough Ball in November, raising £62,200 from both events which will really make a difference to our patients and their families. Money raised from the Jan Fairclough Ball has contributed to the funding of the Hocoma Erigo tilt table, a piece of rehabilitation equipment which will be the only one in an NHS hospital – transforming the recovery of some of our patients.

Su Rai

Chair, The Walton Centre Charity Committee and Non-Executive Director, The Walton Centre NHS Foundation Trust 18/12/23

However, we also retained some virtual fundraising opportunities to ensure people can support us in a variety of ways, particularly important considering how far some of our patients and their families can travel from.

Also in May 2022, we launched a new event, Walk for Walton. This encouraged supporters to walk 100,000 steps in the month of May, anywhere in the world! We raised £12,500 which was amazing and we look forward to continuing with this event in future years.

Cover image Surgeons using the new charitably acquired Neuro VR, which simulates complex neurosurgical procedures, to train.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Objective

For any charitable purpose or purposes relating to The Walton Centre NHS Foundation Trust and such other places as the Trustee shall from time to time determine.

The Charity includes 29 earmarked funds which have been set up to enable the Trustee to meet the wishes of donors who have indicated that they would wish to have their money spent to benefit a specific ward/ department or area of research. A full list of the funds is provided on page 26 of this report. Details of the fund managers and aims and objectives for each fund are provided on page 27.

A patient showing their support for the charity.

Public benefit statement

The Walton Centre NHS Foundation Trust is the main beneficiary of the Charity and is a related party by virtue of being Corporate Trustee of the Charity. By working in partnership with the Trust, the charitable funds are used to best effect for the benefit of the public served by the Trust.

When deciding on the most beneficial way to use charitable funds, the Corporate Trustee has regard to the main objective, strategies, and plans of the Trust, whilst ensuring that the grants reflect the wishes of the donors, patients and staff.

The focus of the Charity’s activities is to benefit the public who utilise the services of The Walton Centre NHS Foundation Trust. The hospital mainly services the community of Cheshire, Merseyside, North Wales and the Isle of Man, all of whom have equal access to its facilities. Charitable expenditure is made by way of direct grants to The Walton Centre NHS Foundation Trust, to enhance the patient care already provided.

The agents of the Corporate Trustee have complied with their duty to have due regard to the guidance on the public benefit published by the Charity Commission in exercising their powers of duty.

Fundraising regulation

The Charity strives to give the best possible donor care to ensure supporters are treated fairly and with respect. The Charity is regulated by the Charity Commission and Fundraising Regulator, the self-regulatory scheme for fundraising in the UK. In addition to this, the Charity is a member of NHS Charities Together and the Chartered Institute of Fundraising.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Fundraising activities, donations and legacies

During the year the total donations, legacies and income from fundraising events (shown as ‘Other Trading Activities’ in the Statement of Financial Activities) came to £415,000 (total income including return on investments £443,000).

Examples of activities carried out to raise funds during the year under review include:

Fundraising activities and donations

Despite the continued challenges of this year there were still amazing fundraising efforts made by supporters of the Charity. Individuals took up their own personal challenges to fundraise - whether that was running, cycling or walking - and there were a number of virtual events using social media and other online platforms.

The Charity website and other digital platforms played a particularly significant role during this year, helping to facilitate fundraising in different ways.

Grant making trusts and foundations

Legacies

During the year under review the Charity received a total of £14,510 in legacy income.

To facilitate supporters wishing to leave gifts in their wills, the Charity continued their partnership with an online will writing service, to support legacy marketing and giving.

The Charity is grateful to all our donors and supporters for all they do to raise funds and awareness for The Walton Centre Charity, to help us make a difference to patients and their families both now and in the future.

Community fundraisers taking part in our Christmas Appeal.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Review of the year

During the year the Charity received a total income of £443,000 (2021/22: £380,000) which is an increase of £63,000. The overall increase can, in the main, be attributed to an increase in fundraising activities and events following relaxation of the previous years’ Covid-19 restrictions, resulting in a £37,000 increase in fundraising activities income and a £31,000 increase in donations income compared to 2021/22.

Fundraising in the community saw an increase in activity with many supporters once again returning to mass-participation events as well as face-toface fundraising. This is reflected in the increase of donations compared to last year.

The Charity’s corporate partners and supporters continued to support its in-house organised events. The Golf Day at Formby Golf Club made a welcome return to the events calendar after a two-year break due to Covid-19 restrictions, and in November the annual Jan Fairclough Ball once again attracted huge support. At the event an appeal for a Hocoma Erigo tilt table was launched, and more than half of the funds required was raised during the evening. The tilt table will transform the patient rehabilitation journey by enabling patients to safely start intense physiotherapy in the earliest stages of acute care. The Walton Centre will become the first NHS hospital in the UK to offer this innovative technology for the benefit of our patients.

During the year under review, the Charity’s three-year strategy was launched. It was developed taking into consideration a very different landscape post-covid, in which there is a shift in how people work, and where most aspects of the economy are severely affected. The strategy has a stronger focus on digital income generation, including adding relevant skills to the fundraising team, increasing individual regular giving and developing a more proactive legacy marketing campaign. The overall aim is to embed the Charity into the corporate strategy of the Trust to ensure that the Charity can effectively contribute to the overall income of the Trust.

A Digital Fundraising Manager was recruited and appointed in November 2022, with the responsibility to manage the planning and implementation of all digital fundraising activity for The Walton Centre Charity to increase support and maximise fundraising income for the Charity.

During the year under review, the Charity spent £496,000 in 2022/23 (2021/22: £638,000). The Charity’s expenditure covers its charitable objectives, fundraising and governance support costs.

In 2022/23 expenditure on charitable activities was £251,000 (2021/2022 £394,000) covering three main areas:

Including the £35,000 net loss on investments, (which is treated as a component of net income), the total expenditure for the Charity exceeded income by £88,000 for the year.

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The Walton Centre Charity Annual Report and Accounts 2022/23

A former patient completing a skydive to fundraise for the charity.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Volunteers

The Trust currently has approximately 45 registered volunteers working in various departments throughout the Trust.

The volunteers provide a much-needed trolley service for the inpatients and staff. Other volunteer activity covers the Meet and Greet, Infection Control, Neuro Buddies, Gardening, Pain Management Programme and Neurophysiology Outpatient services. The Volunteer service is supported by the Charity.

Volunteer along with therapy dog Lemmy, visit a patient.

Forward look

The Charity aims to continue its work to fund a variety of projects which will help improve patient care and services. These include new technology and innovations, research, as well as improved facilities for our patients and families. The Charity will also continue to support staff with health and wellbeing initiatives, as well as enhanced training opportunities to ensure they can remain at the forefront of clinical and research developments to the benefit of patients today and in the future.

The implementation of the 2022-2025 Fundraising Substrategy will be the focus of the next two years. This includes increasing individual regular giving and digital fundraising opportunities as well as developing a more proactive legacy marketing campaign.

Working closely with the Trust’s Communications and Marketing Team, the Charity’s positive impact will be shared both internally and externally to encourage further involvement and support for future fundraising. A monitoring, learning and evaluation process will be implemented in order to efficiently measure and share the impact.

Finally, the Charity will continue to implement and promote the process through which future fundraising projects can be identified. This will ensure that wider engagement with clinical staff occurs and includes relevant levels of approval to make sure that any potential major charitable investments are in-line with and support the overall corporate strategic direction of the organisation.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Structure, governance and management

The Charity was established in 1992 using the model declaration of trust for NHS charities and all of the funds held on trust at the date of registration were registered under the umbrella Charity.

Non-Executive members of the Trust Board are appointed by the Foundation Trust Governors and Executive members of the Board are subject to recruitment by the NHS Foundation Trust. Members of the Trust Board and the Committee are not individual trustees under charity law but act as agents on behalf of the Trustee.

Following discussions with the Charity Commission it was determined that ward and departmental funds should be registered as part of the General Purpose fund as would any monies received for purposes which had a finite life. This is on the basis that hospitals are continually evolving organisations and the bureaucratic impact on the Charity and the Charity Commission would be significant if the ward funds were registered as separate charities. This is because of the legal requirements surrounding changing fund objectives or the winding up of funds. Subsequent donations and gifts are added to the appropriate earmarked fund balance within the existing Charity or a new earmarked fund is created.

The Charity has procedures in place to ensure that it fulfils its legal duty of ensuring that funds are spent in accordance with the objects of each fund. The use of earmarked funds also allows the Charity to respect the wishes of donors in indicating how they would like their donation spent without imposing a material administrative burden. A full list of the funds, fund advisors and objectives for each fund are provided in Appendix 2 on page 27.

Day-to-day administration of the funds is dealt with by the Financial Accounts section of the Finance Department.

Specialist clinicians reviewing patient observations.

All expenditure is recorded as grant expenditure as the recipient organisation (normally The Walton Centre NHS Foundation Trust) requires beneficial ownership of any assets. Applications for expenditure are submitted to the Charitable Funds Administrator who ensures that they are properly authorised and in accordance with the relevant fund’s objectives.

Each separate fund has a fund advisor who is an authorised signatory and has delegated authority to approve expenditure in line with the objective of the fund up to £1,000. Items of expenditure between £1,000 and £5,000 must also be authorised by the Director of Finance. Any expenditure in excess of £5,000 is approved by the Committee.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Reference and administration details

Name

Bankers

The Walton Centre Charity

Charity Commission number

1050050

HM Revenue and Customs number

XR4801

The principal contact of the Charity

Mike Burns Chief Finance Officer The Walton Centre Charity The Walton Centre NHS Foundation Trust Lower Lane, Fazakerley Liverpool L9 7LJ

Royal Bank of Scotland Liverpool Group of Branches 1 Dale Street Liverpool L2 2PP

Independent examiner

Anita Mason BA(Hons) BFP FCA BWM Chartered Accountants Tempest, Suite 5.1, 12 Tithebarn Street, Liverpool, L2 2DT.

Investment advisors

CCLA Senator House 85 Queen Victoria Street London EC4V 4ET

T 0151 556 3482 E mike.burns3@nhs.net

Ruffer LLP 80 Victoria Street London SW1E 5JL

Charity supporters celebrating after completing their fundraising event.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Trustee

The Walton Centre NHS Foundation Trust is the sole corporate trustee of the Charity. For the purpose of this annual report and these accounts the sole corporate trustee is referred to as The Walton Centre NHS Foundation Trust (“the Trust”).

The Board of the aforementioned Trust has delegated responsibility for the ongoing management of funds to The Walton Centre Charity Committee (“the Committee”) which administers the funding on behalf of the Trustee. In the year ended 31 March 23 the following people served as directors of the Trustee:

Max Steinberg CBE Chair

Janet Ross Chief Executive

Dr Andrew Nicolson Medical Director

Ray Walker Non-Executive Director

In the year ended 31 March 2023 the following people served on the Committee as agents for the Trustee, as permitted under Regulation 16 of the NHS Trust’s (Membership and Procedures) Regulations 1990:

Su Rai

Non-Executive Director (Chair)

Irene Afful Non-Executive Director (from 01/01/23)

Prof Paul May Non-Executive Director

Mike Burns: Chief Finance Officer

Lisa Salter Chief Nurse

Dr Sacha Niven Consultant Neuroradiologist and Deputy Medical Director Mr Neil Buxton Consultant Neurosurgeon

Dr Peter Moore Consultant Neurologist

Irene Afful Non-Executive Director (from 01/01/23)

Prof Paul May Non-Executive Director

Su Rai Non-Executive Director

Karen Bentley Non-Executive Director

David Topliffe Non-Executive Director

Mike Burns Chief Finance Officer

Mike Gibney Chief People Officer

Lisa Salter Chief Nurse

Morag Olsen Interim Chief Nurse (from 01/01/23)

Lindsey Vlasman Chief Operating Officer

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The Walton Centre Charity Annual Report and Accounts 2022/23

Risk management

The Committee has examined the major risks affecting the Charity and identified the system and mechanisms in place to mitigate these risks.

The most significant risk identified is the potential loss incurred by a fall in the value of the Charity’s investments. The Committee believe that the higher returns available from the stock market over the longer-term means that this is an acceptable risk, and the Charity has balanced its investment portfolio to safeguard against a material loss in value and has concluded that there is no material risk to the fund at present.

The close relationship between the Charity and the Trust means that the Charity benefits from the same controls designed to manage risk as the Trust. The Trust has developed various controls designed to mitigate the risk of loss through fraud or maladministration which have been applied to the Charity. Mersey Internal Audit Agency has developed a risk-based approach which reviews the operation and effectiveness of these controls. The various controls are examined on a cyclical basis and the frequency is determined by the level of risk relating to that area of control.

Reserves

The Charity has a reserves policy that is reviewed every year. Reserves are part of the Charity’s funds that are available for its general purpose after meeting its commitments and other planned expenditure. Reserves include unrestricted funds or income that can be expended at the Trustee’s discretion in furtherance of the Charity’s aims and objectives.

Such funds can be earmarked for a particular project, but such a designation has an administration purpose only and does not legally restrict the Trustee’s discretion to apply the fund. The Trustee has adopted a policy which states that reserves will not be permitted to fall below the total available of unrestricted funds for the General Purpose Fund at March 2023 less approved committed expenditure and running costs of the charity it is recommended that reserves of £300,000 be held for a 12 month period.

At 31 March 2023 the Charity held £1,601,000 in reserves, all of which related to unrestricted funds.

Fundraiser celebrating after completing multiple marathons.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Investments

The Walton Centre NHS Foundation Trust is the sole corporate trustee of the Charity. The Trust Board therefore has overall responsibility for the investment of the Charity’s funds.

The Board has delegated responsibility for the ongoing management of funds to The Walton Centre Charity Committee. In turn, full discretion has been given to external investment managers in the day-to-day management of the assets. The Trustee believes that the investment strategy inherent in the investment managers’ discretionary actions is appropriate for controlling risk.

The main assets of the Charity were previously held in a segregated portfolio of investments managed by Investec Wealth and Investment Ltd. The Charity Committee, supported by the Trust Board, transferred the Charity’s investments to two multi-asset pooled charity funds in July 2018: CCLA Ethical Investment Fund (50%) and Ruffer LLP Charity Assets Trust (50%).

The aim was to create greater diversification (minimising risk) and improved performance over the longer-term, as well as generating potentially lower fees.

Ethical investment describes a way of making financial investments which reflects the Charity’s values and ethos and does not run counter to its aims. A Charity can decide to invest ethically, even if the investment might provide a lower rate of return than an alternative investment. The law permits the following reasons:

As an NHS Charity, The Walton Centre Charity has determined that it should not invest in tobacco companies because of the proven link between smoking and poor health which would make such investments contrary to its charitable aims.

The pooled funds operated by CCLA and Ruffer LLP satisfy this requirement. Any other restrictions applied by the investment managers should not limit the operations of the Charity.

During the year ending the 31 March 2023 the stock market continued the fairly volatile trend of the past few years. The market value of the funds at the 31 March 2023 was £1,213,000 which is £35,000 lower than the market value at the 31 March 2022. The Charity benefited from dividends and interest of £28,000 which represents a positive result, given the low risk nature of the investment portfolio.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Statement of Trustee responsibilities

It is a pleasure to present the Annual Report for The Walton Centre Charity (“the Charity”), together with the financial statements for the year ended 31 March 2023 which have been subject to an independent examination.

The annual report and accounts have been prepared in accordance with Part 8 of the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as updated by the Charities SORP (FRS 102) Update Bulletin 1 (as amended for accounting periods commencing from 1 January 2019). The Charity’s report and accounts include all of the separate funds for which The Walton Centre NHS Foundation Trust is the sole corporate trustee (the “Trustee”).

All of the separate funds are designated parts of the Charity registered with the Charity Commission under the umbrella of The Walton Centre Charity with the registered Charity Number 1050050 in accordance with the Charities Act 2011.

The law applicable to charities in England and Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustee should follow best practice and:

The Trustee is responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The Trustee is responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee confirms that it has met the responsibilities set out above and complied with the requirements for preparing the accounts. The financial statements and notes set out on pages 16 to 25 have been compiled from and are in accordance with the financial records maintained by the Trustee.

Signed on behalf of the Trustee

Su Rai Chair of the Charity Committee 18/12/23

— Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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A RadK>grapher welcomes patie

411 i- A Stsff Nurse helping a patient.

The Walton Centre Charity Annual Report and Accounts 2022/23

Independent examiner’s report to the corporate trustee of The Walton Centre Charity

I report to the Trustees on my examination of the accounts of The Walton Centre Charity (the charity) for the year ended 31 March 2023.

This report is made solely to the charity’s trustee, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity’s trustee those matters I am required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached

Anita C Mason BA(Hons) FCA BFP Independent Examiner

BWM Chartered Accountants

Tempest, Suite 5.1, 12 Tithebarn Street, Liverpool, L22DT 18/12/23

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Statement of financial activities

For the year ended 31 March 2023

For the year ended 31 March 2023
Note 2022/23 2021/22
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Income and endowments from:
Donations and legacies 285 257
Other trading activities 130 93
Investments 28 30
Total income and endowments 3 443 380
Expenditure on:
Raising funds 245 244
Charitable activities 251 394
Total expenditure 4 496 638
Net gains/(losses) on investments 6 (35) 86
Net income/(expenditure) and net movement in funds (88) (172)
Reconciliation of funds:
Fund balances brought forward 1,689 1,861
Fund balances carried forward 1,601 1,689

All of the Charity’s funds are unrestricted. The net expenditure for the year arises from the Charity’s continuing operations. The notes on pages 19 to 25 form part of these accounts.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Balance Sheet

As at 31 March 2023

As at 31 March 2023
Note 2022/23 2021/22
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Fixed assets
Investments 6 1,213 1,248
Total fxed assets 1,213 1,248
Current assets
Debtors 7 5 3
Cash at bank and in hand 8 530 650
Total current assets 535 653
Creditors: amounts falling due within one year 9 147 212
Net current assets/(liabilities) 388 441
Total assets less current liabilities 1,601 1,689
Total net assets 1,601 1,689
Funds of the Charity
Unrestricted 10 1,601 1,689
Total funds 1,601 1,689

The notes on pages 19 to 25 form part of these accounts.

Signed on behalf of the Trustee

Su Rai Chair

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The Walton Centre Charity Annual Report and Accounts 2022/23

Statement of cash flows

For the year ended 31 March 2023

For the year ended 31 March 2023
Note 2022/23 2021/22
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Cash fows from operating activities:
Net cash provided by (used in) operating activities (148) (60)
Cash fows from investing activities:
Dividends and interest from investments 28 30
Proceeds from sale of investments 0 0
Purchase of investments 0 0
Net cash provided by (used in) investing activities 28 30
Change in cash and cash equivalents
in the reporting period		 (120) (30)
Cash and cash equivalents at the beginning
of the reporting period		 650 680
Cash and cash equivalents at the end
of the reporting period		 8 530 650

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

Net income/(expenditure) for the reporting period
(as per the statement of fnancial activities)		 (88) (172)
Adjustments for:
(Gains)/losses on investments 35 (86)
Dividends and interest from investments (28) (30)
(Increase)/decrease in debtors (2) 77
Increase/(decrease) in creditors (65) 151
Net cash provided by (used in) operating activities (148) (60)

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The Walton Centre Charity Annual Report and Accounts 2022/23

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting Policies

1a. Accounting Convention

The financial statements have been prepared under the historic cost convention, as modified for the revaluation of certain investments. The financial statements have also been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) (effective 1 January 2015) as updated by the Charities SORP (FRS 102) Update Bulletin 1 (as amended for accounting periods commencing from 1 January 2019) and applicable UK Accounting Standards and the Charities Act 2011.

The financial statements have been prepared in compliance with the Charities Statement of Recommended Practice (FRS 102). A Statement of Cash Flows has also been included.

1b. Incoming Resources

1c. Resource Expended

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The Walton Centre Charity Annual Report and Accounts 2022/23

1d. Structure of Funds

Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified in the accounts as a restricted fund. Other funds are classified as unrestricted funds. These are funds which are not legally restricted but which the Trustee has chosen to earmark for set purposes as classified funds. The major funds held within these categories are disclosed in note 10.

1h. Change in the Basis of Accounting

This is the seventh year that financial statements have been prepared in compliance with the Charities SORP (FRS 102). There has been no material change in the basis of accounting during the year.

1i. Prior Year Adjustments

There has been no change to the accounts of prior years.

1e. Investment Fixed Assets

1j. Going Concern Assumption

Stocks and shares are shown at market value.

1f. Realised Gains and Losses

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

1g. Foreign Currency transactions

The accounts have been prepared on a going concern basis and the Trustee has no plans to wind up the Charity, or concerns that it cannot continue as a viable entity.

2. Dividends and interests

Dividends are received for all stocks and shares in beneficial ownership of the Charity and are shown after recovery of tax where allowed. Interest is recorded for all bank accounts and short-term deposits made by the Charity.

All expenditure and income arising from transactions denominated in a foreign currency are translated into sterling at the exchange rate in operation on the date on which the transactions occurred.

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The Walton Centre Charity Annual Report and Accounts 2022/23

3. Details of Income

3. Details of Income
2022/23 2021/22
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Income and endowments
Donations 270 239
Legacies 15 18
Fundraising activities and events 130 93
Investment income 28 30
Total income and endowments 443 380

4. Details of Expenditure

4. Details of Expenditure
2022/23 2021/22
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Raising Funds:
Fundraising staf costs 195 176
Fundraising activities and events 50 68
245 244
Charitable Activities:
Patients welfare and amenities 110 169
Staf welfare and amenities 54 50
Research 37 127
Independent examination 3 3
Administrative support 47 45
251 394
Total 496 638

All of the expenditure is accounted for as grants to benefit the staff and patients of The Walton Centre in line with the Charity’s objectives.

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The Walton Centre Charity Annual Report and Accounts 2022/23

5. Analysis of Staff Costs

5. Analysis of Staf Costs
2022/23 2021/22
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Fundraising Staf Costs
Salaries and wages 155 142
Social security costs 18 15
Employers pension contribution 22 19
Total Fundraising Staf Costs 195 176

The average number of employees during the year was 4 (2021/22: 4). One employee received emoluments in excess of £60,000 in the current year in the salary band £70,000 - £80,000 (2021/22: one, in the salary band £60,000 - £70,000).

No Trustee remuneration or any other benefits have been paid from an employment with the Charity and no Trustee expenses have been incurred.

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The Walton Centre Charity Annual Report and Accounts 2022/23

6. Analysis of Fixed Asset Investments

The investment portfolio is managed by CCLA and Ruffer LLP and the total amount invested with each manager was £500,000. The movement in the portfolio can be analysed as follows:

2022/23 2021/22
£000 £000
Market value at the beginning of the reporting period 1,248 1,162
Less Disposals at carrying value 0 0
Aquisitions at cost 0 0
Unrealised gains/(losses) (35) 86
Market value at the end of the reporting period 1,213 1,248
Book cost at the end of the reporting period 1,000 1,000

All investments are held in the UK and the market value can be analysed as follows:

2022/23 2021/22
£000 £000
Listed investments 1,213 1,248
Total 1,213 1,248

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The Walton Centre Charity Annual Report and Accounts 2022/23

7. Debtors

Debtors in respect of the following are represented in the accounts:

2022/23 2021/22
£000 £000
Prepayments and accrued income 5 3
Total 5 3

There were no debtors falling due over one year.

8. 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:

2022/23 2021/22
£000 £000
Cash at bank and in hand 530 650
Total cash and cash equivalents 530 650

9. Creditors

The creditor position can be summarised as follows:

2022/23 2021/22
£000 £000
Amounts due to NHS Foundation Trust 3 23
Accruals 144 189
Total 147 212

There were no creditors falling due over one year.

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The Walton Centre Charity Annual Report and Accounts 2022/23

10. Analysis of Funds

The movement in the funds during the year can be analysed as follows

Balance as at
31 March 2022		 Income Expenditure Revaluation of
investments		 Balance as at
31 March 2023
£000 £000 £000 £000 £000
Unrestricted Funds 1,435 443 (496) 0 1,382
Revaluation Reserve 254 0 0 (35) 219
Total 1,689 443 (496) (35) 1,601

A list of the unrestricted funds and their balances as at 31 March 2023 is shown in Appendix 1.

11. Related Party Transactions

During the year the Trustee, members of The Walton Centre Charity Committee and the key management staff, and parties related to them, had no personal interest in any contract, nor undertook any material transactions with The Walton Centre Charity.

The Charity delivers its charitable objectives by making grants to The Walton Centre NHS Foundation Trust. Grants made amounted to £201,000 (2021/22: £346,000). This included £40,000 for cutting edge technology which included the MRI guided laser ablation system, also an individual grant of £38,000 from the Home from Home appeal to cover the running costs of the relatives’ accommodation in the Trust’s Sid Watkins Building.

The Walton Centre NHS Foundation Trust provides administrative support to the Charity and in 2022/23 charged a fee of £47,000 at arm’s length (2021/22: £45,000).

At the year end The Walton Centre Charity owed £3,000 to The Walton Centre NHS Foundation Trust (2021/22: £23,000)

12. Events after the Reporting Date

The Trustee is not aware of any events after 31 March 2023 and up to the date the financial statements have been approved which will affect the accounts.

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The Walton Centre Charity Annual Report and Accounts 2022/23

Appendix 1

List of Funds and Fund Balances as at 31 March 2023

Fund Name Fund Name Fund Balance Fund Balance
2022/23 2021/22
£000 £000
4009 General Fund 819 801
4010 NRU Fund 29 17
4015 Wards Fund 16 17
4017 Roy Ferguson Compassionate Care Fund 70 70
4019 Headache and Neurology Fund 1 1
4422 Pain Relief Research Fund 3 4
4442 Neuro General Research Fund 8 8
4457 Neuro Muscular Diseases Fund 1 1
4464 Cerebro Vascular Fund 27 27
4465 Home From Home 0 11
4481 Neurosurgical General Fund 22 28
4487 Horsley ITU Fund 76 76
4499 Epilepsy Fund 24 27
4527 R&D & Higher Study 6 7
4528 Neurophysiology Train. & Educ. 0 0
4530 Neurological Disability Fund 32 65
4532 L Loudrey Mvmt Disorders Fund 8 9
4533 Alan Sutclife Kerr Lecture Fund 1 1
4537 Cognitive Research Fund 0 0
4538 Stereotactic Fund 9 9
4541 Neurobiochemistry Fund 6 6
4543 Disorders Of Movement Gen Fund 58 59
4550 Research Fellowship 1 1
4552 Parkinsons Disease 8 8
4900 Neuro X-Ray Research 15 16
4905 Neurosurgical Neuro-Oncology 32 21
4910 Brain Infections Research 6 6
4911 Nmo And Atypical Disorders 17 18
4915 The Sid Watkins Innovation Fund 87 122
1,382 1,435

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The Walton Centre Charity Annual Report and Accounts 2022/23

Appendix 2

List of Funds, Fund Managers and Objectives

Fund Fund Name Fund Manager Aims and Objectives
4009 General Fund Chief Finance Ofcer/Quorum of
Panel		 Any charitable purpose relating to The Walton Centre
4010 NRU E Cottier/R Moreton Social and recreational facilities for inpatients, improving
quality of life
4015 Wards Fund L Salter /N Martin Items for wards to beneft patients, carers and staf; staf study
support
4017 Roy Ferguson Comp Care Award L Salter Annual compassionate care project
4019 Headache And Neurology Fund Dr Silver Research into headache and allied disorders; support
presentations
4422 Pain Relief Research Fund Dr M Gupta/J Tetlow Research and education
4442 Neuro General Research Fund Dr Nicolson Research projects relating to any aspect of clinical science
4457 Neuro Muscular Diseases Fund Dr C Dougan Research and teaching in the feld of neuromuscular diseases
4464 Cerebro Vascular Fund Dr A Nicolson Research, education, training and equipment
4465 Home From Home Chief Finance Ofcer/Quorum of
Panel		 Maintain the relatives’ accommodation
4481 Neurosurgical General Fund Dr S Niven Research, education, training and equipment
4487 Horsley ITU Fund Dr Lakhani/M Rackham Improve standard of care to patients and their relatives; study
support
4499 Epilepsy Fund Prof T Marson Research
4527 R&D & Higher Study C Chadwick Research, education, training and equipment
4528 Neurophysiology Train. & Educ. C Finnegan Training/education for Neurophysiology staf
4530 Neurological Disability Fund Prof C Young Research/service development activities in disabling
conditions
4532 L Loudrey Mvmt Disorders Fund Dr M Doran Research and development
4533 Alan Sutclife Kerr Lecture Fund Chief Finance Ofcer Specialist research and education
4537 Cognitive Research Fund Dr M Doran Research and development
4538 Stereotactic Fund Mr J Farah/ Ms D Bhargava Research and training
4541 Neurobiochemistry Fund C Chadwick/N Moxham Research, education, training and equipment
4543 Disorders Of Movement Gen Fund Dr AP Moore Research, education, development of new service initiatives
4550 Neuropsychology Fund J Martlew Research, patient education and equipment to
beneft patients
4552 Parkinson’s Disease Dr M Steiger Research, education and training
4900 Neuro X-Ray Research Dr S Niven Advancement of Neuroradiology
4905 Neurosurgical Neuro-Oncology Mr A Brodbelt/ Prof M Jenkinson Research, education, training and equipment
4910 Brain Infections Research Prof T Solomon Research
4911 Nmo and Atypical Disorders Dr A Jacob Research and patient care
4915 The Sid Watkins Innovation Fund Chief Finance Ofcer/Quorum of
Panel		 Support innovation through The Walton Centre in research,
prevention, diagnosis, treatment and the overall care of
people with diseases or injury of the nervous system

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The Walton Centre Charity Annual Report and Accounts 2022/23

A Nurse listening to a patient on a hospital ward.

28

Thank you The Charity is grateful to all our donors and supporters for all they do to raise funds and awareness for The Walton Centre Charity, to help us make a difference to patients and their families both now and in the future.

Contact us

If you would like to contact us about fundraising, events or volunteering please get in touch.

Call 0151 556 3466

Write

The Walton Centre Charity The Walton Centre NHS Foundation Trust Lower Lane, Fazakerley Liverpool L9 7LJ

Visit thewaltoncentrecharity.org