The Walton Centre Charity Annual Report 2023124 r-? .,Iii'.1111 '
1.4¢ Jiin Fdircluiigli L.adies LiinLII Walton Centre Charity
Thewalion Cenlre Charity AJaIR&&J ¢JnIS2O2SI24 Welcome to The Walton Centre Charity Annual Report for 2023124 Despite the ongoing challenges of the current economic climate, and the effect this has on charities ability to fundraise, I am very pleased to report that our Charity incoTne during the year under review not only continued at a steady pace but increased by £85,000 on the previous year. It is because of people like you that the life- changing work of The Walton Centre can continue. making a real difference to our patients every single day. Su Ral Chair, The Walton Centre Charity Committee and Non-Executive Director, The Walton Centre NHS Foundation Trust This allowed us to continue to support The Walton Centrc NHS Foundation Trust ocross many areas, positively impacting patients, their families. and our staff. From the regular support of OLJr wonderful Home from Home facility, which provides relatives with somewhere comfortablc and close to Stay while their loved one is'receiving emergency treatment at the hospital.. Lo support of a new Music and Health initiative, in partnership with Liverpool Philharmonic. The Charity also continued its funding of innovation and technology. through the provision of an Optical Coherence Tomography machine which will signilicantly improve diagnostic timeframes and enhance opportunities for patient research partiripation. In addition, the Charity was able to provide a research capability grant to help enable and develop research at the TrLJSt,' as well as several grante to Jupport enhanced training opportunilies for staff lo ensure they remain at the forefront of clinical and research developments for the benefit of all PAlients. We iuuldri't do any of this without our supporters whether you have run a marathnn or a mile. Walked for Walton or climbed Snowdon, attended one of our events. sponsored a friend or donated in memory of a loved one - we thank you. Cover Image - Our team of abseilers ready to take on Llverpool Cathedral Image left. Sophle Dunbavin and Profe550r Paul May al the Jan FaSrclough Ladie5 Lunch
The Wollon Centre ch4lY Anwal Repo[l Acc(xu*5 2023124 Objective Public benefit statement 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 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 partnersh5p wlth the Trust, the charitable funds are used to best effect for the benefit of the public served by the Trust. 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 beneht a specih'c wardldepartmeni or area of research A fijll li£t of the funds. details of the fund managers, and aims and objectives for each fund are pruvided vri pages 27 and 28 of this report. When deciding on the most beneficial way to use charilable funds, thp Corporate Trustee has regard to the main objective. strategies and plans of the Trust. whilst ensuTing IfidL Ilie yTdllts reflect the wishes of the donofs. Patients and staff. Th6> focus of the Charity's activities is to benefit the public who utilise the services of The Wélton Centre NHJ foundation Trust. The hospital mainly services the community of Cheshire. Merseyside. North Wales and the Isle of Man. all of whom have equal ac.r.p_£s 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 Ihe guidance on Ihe public benefit published by the Charity Commission in exercising iheir powers of duty. a&1 Fundraising regulation The Charity stiive5 Lu yive 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 Chartp.rp.d Institute of Fundraising.
The Waitoncenltecharity Ant¥Jai Rew¢ and kcount52023124 Fundraising activities, donations and legacies During the year the total donations, legacies and income from fundraising events Ishown as 'Other Trading Activities, in the Statement of Financial Activities) came to £496,000 (total income including return on investments £528,000). Examples of activities carried out to raise funds during the year under review Include-. Fundraising activities and donations Walk for Walton - EIO,300 The Walton Centre Charity Golf Day- E27,200. 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. c.yr.ling nrwalking - and there were a number ofvirtual events using social media and other orilirie pldlfvrrris. Abseil from the Anglican Cathedral - £4.200 Snowdon Hike- £13,500 Jan Fairclough Ball- £60,000 Christmas Appp.Al - f4 fino Grant making trusts and foundations NHS Charities Togeiher - £28,883 Cheshire Freemasons - E250 Legacies During the year under review the Charity received a total of E35,691 in legacy income. Jill,. To facilitate supporters wishing to leave gifts in their wilts. the Charity continued their partnership with an online will writing service. to support legacy marketing and giving. Smydivin!, FundT415er5 ailer a Sky¢Jive Iowa15e moneyiorinecnanry The Charity is grateful to all our donors and supporters for all they do to raise funds and awarcneJ4 for The Walton Centre Charity. to help us make a dirference to patients and their families tK)th now and In the luture.
Thewaltoncentre Charity knnuol ReFxMlarKI Z023124 Review of the year During the year the Charity received a totsi income of £528,000 (2022123". £443,000) which is an increase of £85,000. In 2023124 expenditure on charitable activities Wa5 £281.00012022123: £25LOOO) coverlng three main areas: The overall increase can. in the main, be attributed to continued increase in fundraisiiig ailivilies and events. resulting in a E61,000 increase in fundraising activities incomè and a £20,000 increase in donations and legacy income compared to 2022123. Patient welfare and amenities,. £232,000 12022123; £110,000) This included the Home from Home relatives, accommodation.. Optical Coherence Tomography machine - a piece of equipment which will help provide more accurate diagnoses and enable clinicians to conduct. a variety of neuroscience research trials,. a 12-month partnership with Liverpool Philharmonic providing a 'Music for Health. programme for patientg, vititors and staff,. and a wig service for patients undergoing MR-guided focused uiirasound IMRGFUSI proce(Jures tor essential tremor. The Charitffs corporate partners and suptM)rters continued to support its in-house organised cvents, including the Gol,, Day and the Jan Fairclough Ball. Community fundraising shows continued increase in engagement and in-person events, and digital fundraising has continued to develop and contribute to the overall income generation for the Charity, wilh an increased number of new donors coming through the charity website and social media platforms. The year ha" also sccn a significant increase of in- memory donations and notifi'cations of legacies. Staff welfare and amenities." £21000 (2022123: £54.0001 In addition to welfare and amenities, funding was also made available for professional developmeni. such as enhanced study courses, training and conferences. to ensure staff remain at the forefront of clinical. research and personal developments. Funds were also allocated to Long Service Awards for staff. During the year under review, the Charity continued to contribute to the Trust's strategic vision, in particular supporting and enabling developments across two of the strategic ambitions - 'Research and Innovation, and 'Education. Training and Learning.. Examples of projects funded include the Optical Coherence Tomography machine". a Research Capability grant to help enable and develop research at the Trusi,. and a number of 9rants to support enhanced training opportiJnitip_£ fnr staff to ensure they remain at the forefront of clinical and research developments for tlie beiiefil of all patients. Research; £24,000:12022123.' £37,0001 This included funding for research posts, equipment training. books andjnijrnals. Including the El.000 net1055 on invvsliTieiil5 (which is treated 3s a component of net income). Ihe total expenditure for Ihe Charity exceeded income by 1116.000 for the year. During the year under review, the Charity spent E643.00012022123. E496.0001 The Charity s expenditure covers Its charitable objectives, fundraising, administration and governance support costs. Image rlght- Professor Andrew Brodbelt undertaking a skydrve to raise money lor the charity
ThE WaltoDC¢nlre Chw(ty Anrmjal Re[&M1CountS 202Y24 Volunteers Forward look The Trust currently has approximately 47 registered volunteers working in vqrious departments throughout the Trust. The Charity aims to continue its work to fund a variety of projects which will help improve patient care and seniices. These include new technology and innovations, research, as well as improved facilities for our patients and families. The volunteers provide a much-needed trolley service for the inpatients and staff. Other voluntèer 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. 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 patient. today and in the future. The implem.entation of the 2022-2025 Fundraising Substrategy will be the focus of the nexi Iwo years. This includes increasing Individual regular giving and digital fundraising nppnrti Inities as well as developing a rhore proactive legacy marketing campaign. Working closely with the Trust's Communications and Marketing Teain. Ilie CP16rity'5 Posltive impaci 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 identih'ed. This will ensure that wider engagement with clinical rtaft occurs and includes relevant levels of approval to make sure that any potential major charitable investments are in-line with and support the over311 corFK)rate strategic direction of the organisation. Volunleers with Ihe sweel lioliey
The Walton Centre Clwlty Amual fle[and 2023124 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 Commiltee 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 h'nite life. This is on the basis that hospitals arp. c.nntinLJally evolving organisations and the bureaucratic impact on the Charity and the Charily CurTifTiission would be signih'cant if the ward funds were registered as separate charities. Day-lo-day administration of the funds is dealt with by the Fundraising team in conjunction with the Financial Accounts section of the Finance Department This is because of the legal requirements surrounding changing fund objectives or the winding up of funds £iJbsequent donations and gifts are added to the appropriate earmarked fund balance within the existiriy Clidiily. or a new earmarked fund is created. The Charity has procedures in place to ensure that it fulfi'ls 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 donatiun spent without imposing a material administrative burden. A full list of the funds, fund advisors and objectives for each fund are provided on pagc 28. Stall rLThifftgahall-marathonto ia15e money lor Ine Walton Lenire Charity. All expenditure is recorded as grant expenditure as the recipient organisation (normally The Walton Cenlre NHS FoLJndation Trustl requires beneficial ownership of any assets. Applic.ations for expenditure are submitted to the Charitable Funds Administrator who ensures that Ikiey igre yiopei ly autliorised and in accordance with the relevant fund's objectives. Each separate fund has a fund advisorwho is an aulhorised signatory and has delegated authority to approve expenditure in line wilh the objective of thp. fijnd up to £l.000. Items of expenditure between El,000 and £5,000 must also be au(horised by the Chief Finance Offi'cer. Any expenditure more than E5.000 is approved by the Commitlee.
The Walton Cenlre Charity AnTvJai ResKMI 20231 Reference and administration details Name Bankers The Walton Centre Charity Charity Commission number 1050050 Royal Bank of Scotland 'verpool Group of Branches l Dale Street Liverpool L2 2PP HM Revenue and Customs number Independent examiner Anita Mason BAIHonsl BFP FC Mitchell Charlesworlh Tempesc Suite 5.1, 12 Tithebarn Street. Liverpool. L2 2DT XR4801 The principal contact of the Charity Mike Burns Chief Finance Offjcer The Walton Centre Charity The Walton Centre NHS Foundation Trust Lower Lane, Fazakerley Liverpool L9 7LJ Investment advisors CCLA Senator House 85 Queen Victoria Street London EC4V 4ET T 0151556 3482 E mike.burns3@nhs.net Rutter LLP 80 Victori3 Stre_p_t London SWIE 5JL Charity un ffice Walton eertire -5¥ <JO •A Chariiy fundralsErs pie5eniing thwi cheque
ThE Wailoncentse Chaftty Rer%)rtand Ac¢wryls 2023124 Trustee The Walton Centre N HS 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 1.the Trust"l. Morag Olsen Acting Chief Nurse lunlil 31 August 20231 Nicola Martin Aciing Chief Nur5e11 Sepiember 2023 to 7 November 20231, Chief Nurse Ifrom 8 November 20231 Lindsey Vlasman Chief Operaling Officer In the year ended 31 March 2024 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 (Chairl The Board of the aforementioned Trust has delegated responsibility for the ongoing management of funds to The Walton Centre Charity Committee I'the Committee-l which administers the funding on behalf of the TrLJ&tp.p. In the year ended 31 March 2024 the followiriy pp.nplg. seNed as directors of the Trustee" Max Steinberg CBE Chair Prof Paul May Non-Executive Director Janet Ross Chief Executive Irene Afful Non-Executive Director Ifrom l Jan 2023 lo 31 Oct 20231 Clive Elliott Non-Executive Director (from l November 20231 Dr Andrew Nicolson Medii61 Director Ray Walker Non-Executive Director Mike Burns: Chief Finance Officer Prof Paul May Non-Executive Director Mlke Gibney Chief People Officer Nicola Martin Chief Nurse lon the Committee till 31 March 20241 Dr Sacha Nlven Consultant Neuroradiologist and Deputy Medical Director Mr Neil Buxton Consultant Neurosurgeon Dr Peter Moore Consultant Neurologist Su Rai Non-Execulive Director Karen He51op Non-Executive Director Iresigned 31 October 20231 Cllve Elliott Non-Exeiulive Director (from l November 20231 David Topliffe Non-Executive Director Irene Afful Non-Executive Director Mike Burns Chief Finarice orriier Mike Gibney Chief People Officer Llsa Salter Chief Nurse (resigned 31 August 20231
Th¢Walttsn Cenlrè Chorfty RerKrtarKlkcouNs202U24 Risk management The Committee has examined the major risks affecting the Charity and identified the system and mechanisms in place to mitigate these risks. Reputstional The Charity has a very low risk appetite foractions and decisions which may damage our reputation. It therefore puts a strong emphasis on rigorous processes to be followed in its h'nancial dealings. and wlipn p.ngagrng with third parties. The close relationship between the Charity and theTrust means that thc 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 Ioss through fraud or maladministration which have been applied to the Charily. These risks ai)d uther identilied risks relating to the Charityare analysed in more detail in a formal risk registerwhich includes controls and actions to mitigate risks. The risk register is reviewed annually and isalso included on the consentagenda for each quarterly meeting of the Committee. Mersey Internal Audit Agency ha5 developed a riJl< based approach which reviews the operalion and effectiveness of these controls. Thevarious controls are examined on a cyclical basis and the frequency is determined by the level of ri:k relating to that area of control. Financial The most signih.canl risk idenlilied is financial including insufficient fundraising iliLUITle di reserves,. and the potential loss incurred by a fall in the value of the Chaiitys investments. The Commillee believe that the higher returns available from the stock market over the lorvjer-term means that this is an acceptable risk, and the Charity has balanced its investment portfolio to safeguard againsl a material loss in value and has concluded thal there is no material risk lo the fund at presenl. • Organisational The Charity recognises that it works in an cvcr- changing environment where ils governance arrangements and organisalional structure will need to evolve over lime.11 will hr_c.p.pt £nme risk£ in these circumstsnces to ensure il is KK)Sitioned looplimum advantsge ptoviiiiiig aiiy Llidrige not impacr on ils core sustainability. Developmental The Charity accepts a degree of risk that is part and parcel ol ils willingness lo support innovation. facilitate change and to p_vnlvp ils support for the benefit of NHS patients and the wider public. These risks will be monilvied d5 yl(Iril5 aFe awaraeu and projects are completed. io
WCentle Chjrity Annijal RepDTi&wJ Accoun15 2023124 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 expendlture. Reserves include unrestricted funds or income that can be expended at the Trustee's discretion in furtherance of the Charity's aims and objectives. Suili fuiids can be earmarked for a particular projecL but such a designation has an administration purpose only and does not legally rcJlrict the Trustee's discretion to apply the fund. The Trustee has adopted a policy which states that reserves will not be permitted 10 fall below the total available nf iJnrp.stricted funds for the General Purpose Fund at March 2024 less approved committed expenditure and running costs of the Charity it is recommended that reseTves of £431,000 be held for a 12-month period. li
The WalloTh Centre Ch•riiy Anrxjai RewMI andP<ctyJnts 2023124 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. Ethical investment describes a way of makino fi-nancial 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 ol return than an alternative investmpnt The law permits the following reasons.. 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 investlTréiil slidleyy inherent in ihe Investmeni managers, discretionary actions is appropriate for controlling risk. A particular investment conflicts with the aims of the Charity The Charity might lose supporters or benefi'ciaries if it does not invest ethically There is no signifi'cant linancial detriment As an NHS Charity, The Walton Centre Charity has determined that it should not invest in tobacco companies becausc of the proven link betvveen smoking and poor health which would make such investments contrary to its charitable aims. The main assets of the Charity were previously held In a segregated portfolio of investments manAgpd by Investec Wealth and Investment Ltd. The Charity Committee, supported by the Trust Board. transferred the Ckidrity's investments to two multi-asset pooled charity funds in July 2018.. CCLA Ethical Investmcnt Fund150YI.' and The pooled funds operated by CCLA and Ruffer LLP satisfy tliis ieuuireirient. Any other restrictions applied by the investment manaoeis should not limit the operations of the Charity. During the year ending the 31 March 2024 the stock market continued the fairly volatile trend of the past few years. The market value of the funds at the 31 March 2024 was £1,212.000 which is £1,000 lower than the market value at the 31 March 2023. The Charity benefitted from dividends and interest of E32,000 which represents a positive result, given the low-risk nature of the investment portfolio. Ruffer LLP Charity Assets Trust150YI. The aim was to create greater diversification Iminimising risk) and improved performance over the longer-term. as well as generating polentially lower fees. Image right - The new OCT machine in the Outpatients departmenL generously lunded by The Walton Centre Charity
The Walton Centre Chty knrKJ& RerAY1*kcN$2O23I24 Statement of Trustee responsibilities It is a pleasure to present the Annual Report for The Walton Centre Charity 1.the Charity"), together with the financial statements for the year ended 31 March 2024 which have been subject to an independent examination. Prepare the fi'nancial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustee is responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity, and which enable them to agcertain the fi'nancial position of the charity and which enable them to ensure that the linancial stalements comply with the Charities Act 2011, the Charity (Accounts and Reports) RegulaLioris and the provisions of the trust deed. The Trustee is responsible for safeguarding the assets of the Charity and hence for taking reasonable step5 for the prevention and deteclivri of fraud and other Irregularities. The annual report and accounts have been prepared in accordance with Part 8 of the Charities Act 2011 and Accourlting and Reporting by Charitiee Statemcnt of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Rpporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151 ds updated by the Chariiies SORP IFRS IU21 Update Bulletin I (effective l January 20161 The Trustee conh'rms that it has met thé responsibilities set out above and complied with the requirements for preparing the accounts. The financial statements and notes set out on pages 18 to 26 have been compiled from and are in accordance with the h'nancial records niaiiildll Igd by the Trustee. Thc Charitys report and accounts include all or the separate funds for which The Walton Centre NHS Foundation Trust is the sole corpotate trustee Ithe 'TrLislee'l. All of blie sepdTate 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. Signed on behalf of the Trustee The law applicable to charities in England and Wales requires the Trustee to prepare hnancial stalements for each financial year whic_h give a true and fair view of the charity's fi'nancial activities during the year and of its finaiicial pusiliuri dt the end of the year. In preparirbg fi'nancial statements giving a true and fair view, the Trustee should follow best practice and.. Su Rai Chair of the Charity Committee 05112124 Select suitable accounting policies and then apply them con%i£tp.ntly.' Makejudgements and estimates that are reasonable and prudent.. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the linancial statements,. and Ima9e right- The Home Irom Home reiatlves. acc¢)mmooaiion 14
The Walion C¢ntr¢ Chjrity Ann Reprt and<¢tts2O23 Independent examiner's report to the corporate trustee of The Walton Centre Charity I report to the trustees on my examination of the financial statements of The Walton Centre Charity (the charltyl for the year ended 31 March 2024. This report is made solely to the charily's trustees. as a body. in accordance with Section 145 of Ihp. Charities Act 2011. My examination has been undertaken so that I might slate lo the charity's trustees those matters l am required to stale to them in an Independent Examiner s report and lor no otlier 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 reporl. 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 requiremcnts of the Charities Act 2011 lihe 2011 Act). I reporl in respect ot my examination of the charity's h'nancial statements carried out under section 145 of the 2011 Act. In c.arrying OLIt my examination I have followed all the applicablc Directions given by the Charity Commission under section 1451511bl of the 2011 Act. Independent examiner's statement Your atlention is drawn to the fact that the charity ha% prp.pared hnancial 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 ol Ireloiid.IFRS 1021 ITi preference 10 Ihe Accounting and Reporting by Charities.. Sialement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for hnancial statements to provide a true and lair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after l January 2015. I have completed my examination. I confi'rm that no matters have come to my attention in connection with the examination giving me cause to believe thal in any material respecl.. arcounting record& were not kept in respect of ihe charity as required by section 130 of tlie Act, ui 2. the financial siaiemenis do not accorcl with those records,. or 3. the fi'nantial statements do not comply with Ihe applicable requirements concerning Ihe form and conlenl of accounts set out in the Chaiilie5 IALLounts and Reportsl Regulations 2008 other than any requirement that the accounts qive a true and fair view which is not a matter r_nnfiidprpd as part of an independent examination. 16
ThEWkn C•ntM Chlrlty AnnualR@rrnl aArMIAnIs2o23124 I have no concerns and have come across no other mallers in connection with the examinalion to which attention should be diawn in this repLirt iii order to enable a proper understanding ol Lhe fi'nancial statements to be reached. Anita C Mason BAIHons) FCA BFP Mitchell Charlesworth Tempesl Suite 5.1, 12 Tilliebarn Slreet. Liverpool, L2 2DT
The Wailon Cenlre Charity Annual R¢ptylarkcs 2023124 Statement of financial activities For the year ended 31 March 2024 2023124 2022123 Total Fund5 (Unrestricted) £000 Total Funds (Unrestricted) £000 Income from.. Donqtions and legacies Other trading activities Investments 305 285 191 130 32 28 Total income and endowments 528 443 Expenditure on- Rai51ng tunds Charitable acflvlties 362 245 281 251 Total expenditure 496 Nel gain5111ossesl on investments 1351 Net incomellexpenditurel and net movement in funds 11161 1881 Reconciliation of funds.. Fund balances brought forward Fund balances carried forward 1.601 1,689 1,485 1,601 All of Ihe Charity's funds are unreslricled. The nel expenditure the year arises from the Charity's coiitinuiiiy vyerdlivr15. The noies on pages 2110 2ti lorm part of these accounts. 18
Thewalton Centrecharity knrrtjd Rerxxl arxlAccounls2023124 Balance Sheet As at 31 March 2024 )te 2023124 2022123 Total Funds lUn$triCted1 Totsl Funds (Unrestricted) £000 £000 Fixed assets Investments 1,212 L213 Total fixed assets L212 1,213 Current assets Debtors 18 Cash at bank and in hand 530 Total current assets 309 535 Creditors.. amount5 falling due wilhin one year Net current assetsllliabilities) Total assets less current liabilities 36 147 273 388 1.485 1.485 1,601 Total net assets 1,601 Funds of the Charity Unrestricted io 1,485 1,601 Total funds L485 1,601 The nolps nn pAgp_% ?1 to 26 form parl ol these accounts. Slgned on behalf ol the Trustee Su Rai Chair 05112r24 19
Thewalton Centre Charfty Report aThl•£¢LYIrrts2Q34 Statement of cash flows For the year ended 31 March 2024 2023124 2022123 Total Fund5 IUnre5tricted) £000 Total Funds Iunrestrictedl £000 Cash flows from operating activities- Net cash provided by {used inl operating activities 12711 11481 Cash flows from investing activities: Dividends and interest from investments Proceeds from sale ol investments Purchase of Investments 32 28 Net cash provided by (used inl investing activities 32 28 Change in cash and cash equiv<Jlents in the repoiting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period 12391 650 291 530 Reconciliation of net incomellexpenditurel to net cash flow from operating activities.. Nel incomellexpendilurel lor the reporting period las pei the statement of fi.nancial activitiesl 11161 1881 Adjustments for.. IGainsl/losses on investments Llividends and interest from investments Ilncreaselldeciease in debtors Increa5elldecreasel In creditors 35 1321 1281 1131 121 11121 1651 Net cash provided by (used inl operating activities 1271) 11481
Thfrwalioncwth Ch•iity Revxi Acwnls 2025124 Notes to the financial statements For the year ended 31 March 2024 l. Accounting Policies la. Accounting Convention The fi'nancial statements have been Prepared under the historic cost convention, as modified for the revaluation of ccrtain invcstmcnls. The linancial statements havc al40 becn prcparcd in accordancc with Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard IFRS 1021 (effective I January 20151 as updated by the Charities SORP IFRS 1021 Update Bulletin I leffectsve l January 20191 and applicable UK Accounting Standards and the Charities Act 2011. This is the sixth year that fi'nancial statements have been prepared in compliance with the Charities Statement of Recommended Practice IFRS 1021. A Statement of Cash Flows has also been included. Ib. Incoming Resources al All incoming resources are included in full in the Statement of Financial Activities as soon as the followin9 three factors can be met.. il Entillemeni - arises when conirol over the rights or other access to the economic benefii has passed to the Charity,. ill Probable - when it is more likely than not that the economic beneh'ts associated with the transaction or gift will flow to the Charity,. and iiil Measurement- when the monetary value or amount of the income can be measured reliably and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. bl Legacies are accounted for as incoming resources when it is probable that they will be received. Receipt is normally probable when.. il There has been grant of probate; ill The executors have established that there are sufficient assets in the estate. after settling any liabilities, to pay the legacy,. and iiil Any c.nndilirin£ attAc.hpd tn thp. Ipgac.y arp_ p.ithp_r within thp_ c_ontrol nf th?. C_harity nr havp. b?.p_n'mp.t.' b. LvydLleS dre dLiuuriLed rui (ts iriivming resources when il is probable tlial tliey will be receivèd. Receipt is normally probable when. There has been grant of probate," ii. The executors have eslabli5hed that there are suffi'cient assets in the estate, after settling any liabilities. to pay the legacy.. and iii. Ariy cuiidilioris ¢4Ll¢*cFied Lo Ikie legcliy ale eill)er williiri Ilie curilrol of Ilie Cliaiily ur lidve bveri rTieL. Ic. Resource Expended a. The funds held on Trust accounls are p.repared in accordance with the accruals concept. All expenditure is recognised when all of the following criteria are met 21
The WaltonctTe Chaiity knnual Rep¢xlW ILc(vI52Wi3f24 i. Obligation - 8 present legal or constructive obligation exists at the reporting date as a result of a pa".t event,- ii. Probable it is more likely than not that a transfer of economic benefiis, often cash, will be required in settlement.. and iii. 'Measurement - the amount of the obligation can be meauured or ertimaled reliably. b. Lost of generating tunds comprises the costs associated with altracling voluntary income. c. Charitable expenditure comprises those costs incurred by the Charity in the delivery of it5 activities aiid seiviies fur its lJeiieliLldiies. IL i14Llude5 Ix)Ili iusls Lkidl LdTI be £alluL(]ted directly to such activilie5 and any costs of an indirect nature necessary to support them. d. Governance costs include those costs assrlated with meeting the constitutional and .qtattJtory reqU1mentS of the Chaiity and include accountancy fees and costs linked to the strategic management of the Charity. I dl Structure of funds Where there is a legal restriction on the purpose to which a fund may be put. the fund is classift'ed in the accounts as a restricted fund. Other funds are classih'ed as unrestricted funds. These are funds which ale not legally restricted but which the Trustee has chosen lo earmark for set puiposes as classified funds The major funds held within these categories are disclosed in note 10. lel Investment fixed assets Stocks and shares are shown at market value. If) Realised gain5 and losses All ydllls drid IusSe5 dre ke[l lu Ilie StsleirieTII uf FiriiifiLiiil ALlrvtties as tfriey arise. Realised gains and losses on investments are calculated as the difference between sales Proceeds and opening market value lor date of purchase if later). Unrealised gains and losses are calculated as the difference between market value at the year-eid and opening market value or date of purchase if later. Igj Foreign currency transactions All expenditure and-income arising from transactions denominated in a foreign currency are translated into sterling at the exchange rale in operalion on Ihe date on which the transactions occurred. Ihl Change In the basis of accounting This is the sixth year that financial staLements have been prepared in compliance with the Charities SORP IFRS 1021. There has been no material change in the basis of accounting during the year. li) Prior year adjustments There has been no change to the accounts of prior years. lj) Going concern assumption The accounts have been prepared on a going concem basis and the Tructee hac no p(anc to wind up the Charity. or concerns that it cannot continue as a viable entity. 22
ThewatanC¢rtreCharity knrxja RetlAccthnts 2023124 2. Dividends and interests Dividends are received for all stocks and shares in benefi'cial 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. 3. Detalls of Income 2023124 2022123 Total Funds Iunrestrictedl EOOO Total FLJnds IUnre5trictedl £000 Income and endowments Donations 269 271 Legacies Fundraising activities and events Investment income 36 14 191 130 32 28 Toral income and endowments 528 443 4. Details Df Expenditure 2023124 2022123 Totsl Funds Iunrestricted) Total Funds (Unrestricted) EOOO £000 Raising Funds- Fundraising starf costs Fundraising activities and events 225 195 92 50 317 245 Charitable Activities: Patients welfare and amenities 232 iio Staff welfare and amenilies 22 RpEeArrh 24 37 Independent examination Administrative support 45 47 326 251 Total 496 All ol the expenditure is accounted for as grants to benefit the staff and patients of The Walton Centre in line with the Charity's objectives. 23
The Waincent Chartty knryJal 2023r24 5. Analysis of Staff Costs 2025124 2022123 Total Fund5 (Unrestricted) £000 Total Fund5 (Unrestricted) EOOO Fundraising Staff Costs Salaries and wages Social security costs Employers pension contribution 155 20 18 26 22 Total Fundraising Staff Costs 225 195 The average number ol employee5 during the year was 41202212J. 41. One err,ployee feceived emoluments in excess ol E60.000 in the currentyeaT in the salary band E70.000 - E80,00012022125. one, in the salary band £60,000 - E70,0001. No Trustee MnelatIOn or any other benefits have been paid from an employment wilh the Charity and no Trustee expenses have been incurre(l. 6. Analysis of Fixed Asset Investments Tliè irivvstinerit porilolio is Inanaged by CCLA arid Ruffei LLP and the lotal amount invested with each manager was ESOO,000. The movement in the portfolio can be analysed as follows.. 2023124 2022123 £000 £000 Market value at the beginning of the reporting period Less Disposals al carrying value Aquisilions al cost Unrealised gainslllossesl 1.213 1,248 1351 Market value at the end of the reporting period L212 L213 Book cost at Ihc cnd of Ihc rcporting rIOd 1.000 1,000 All investments are held in Ihe UK and the market value can be analysed as follows." 2023124 2022123 EOOQ EOOO Li51ed investments L212 1,213 Totsl 1.212 1,213
ThfyWaIt1Cenlre Charity Anrxjai R@¥K)rfkcnIS?o2Sl24 7. Debtors. Debtors in res1 of the following are represented in the aCCnts.. 2023124 2022123 £000 £000 Prepayments and accrued income 18 Total 18 There were no debtors falling due over one year_ 8. Cash and Cash Equivalents Cash al bank and in hand is held to meet the day-to-day running c.ngt_E c)f rhp C.hArity as they fall due. fash equivalents are short-term, highly liquid investments, usually in 90 day notice interest beaTing savings accounts-. 2023124 2022123 £000 EOOO .h at bank ond in hand 291 530 Total cash and cash equivalents 291 530 9. Creditors The creditor position can be summarised as follows.. 2023124 2022123 £000 £000 Amounts due to NHS Foundation Trust Trade creditor5 io Accruals and deferred income 23 141 Total 36 147 I here were no Creditors falling due over one year. 25
Th? W•lton Ctthchthity Annual ReFxytWKlkcour4s 2023124 9.1 Deferred income 31 Mar 24 31 Mar 23 £000 £000 Tulal delei red incoine al l April Amounts received in year Amounts credited lo statement of h"nancial activities 23 Totsl 23 23 10. Analysis of Funds Thc movcmcnt in the funds during the year can be analysed as follows Balance as at 31 March 2023 Income :. Expenditure Revaluation of investments Balance as at 31 March 2024 £000 £000 £000 £000 EOOO Unrestricted Fund5 LSlJ2 b28 16431 1,267 Revaluaiion Reserye iii 218 Total L601 528 1643) L485 A list of the unrestricted funds and their balances as at 31 March 2024 is shown in Appendix I, 11. Related Party Transactions During the year the Trustee, members ol The Walton Centre Charity Committee and the key management staff, and parties related lo them, had no personal inteiest in any contT3cL nor undeilook any material transactions with The Walton Centre Charity. The Charity delivers its charilable objectives ty making grants to Th'e Walton Lenlre NHS Foundation Trust. Gran15 mAdp amniinlp.d tn F?.78.00012022123'. E20tOOOl This included E68.800 for an Optical Coherence Tomography machine - a piece of equipment which will help prowde more accurate diagnoses and enable clinicians to conduct d vdriely ul rivurvSiiellLe leSVdlLI I Iiid15. ¢J 12 11)ui Illi wdi11iè151iip with knveipool Philliarmonic providiiig a 'Music for Heallh, programme for patients, visitors and staff-, and a wig %eNice for patients undergoing MR-9uided focused. ultrasound IMRGFUSI procedures for essenlial tremor. The Walton Centre NHS Foundation Tiusl Provides adminislrats've support to the Charity and in 2023124 charged a fee of E45,00012022123.' E47.0001. Ai the year end The Walton Centre Charity owed E3.000 to The Walton Centre NHS Foundation Tiusl 12022123.. E3.0001 12. Events after the Reporting Date The Trustee is not aware of any events after 31 March 2024 and up lo the dale the financial 5tatemen15 have been approved which will arfecl the accounts.
TheWall¢nCentreCknarity Rep)rt aTrJkcwnt5 2023124 Appendix I List of Funds and Fund Balances as at 31 March 2024 Fund Name Fund Balance 2023124 2022123 £000 £000 4009 enpral FLind 834 819 4010 NRU Fund 18 29 4015 Wards Fund 16 4017 Roy Ferouson Compassionate Care Fund Headache and Neurolooy Fund Pain Relief Research Fund 70 70 4019 4422 4442 Neuro General Research Fund 4457 Neuro MuscuLir Diseases Fund 4464 Cerebro Vascular Fund 26 27 4465 Horhe From Home 4481 Neurosurgical General Fund Horsley ITU Fund Epilepsy Fund R&D & Higher Study Nèurophysiology Train. & Educ. Neurological Disability Fund L Loudrey Mvmt Disorders Fund Alan Sulcliffe Keir Lecture Fund 22 22 4487 75 76 4499 22 24 4527 4528 4530 io 32 4532 4533 4537 Cogniiive Research Fun Stereotactic Fund 4558 4541 Neuivbiuilivi Iiisliy Fuiid Di50rders 01 Movement Gen Fund 56 58 4550 Research Fellowship ParliinJonJ Discasc 4900 Neuro X-Ray Research Neurosurgical Neuro-oncology Brain lrifeclions Rp.%p_arc.h 15 15 4905 30 32 4910 4911 Nmo And Atypical Disorders The Sid Walkins Innovation Fund 17 17 4915 87 L267 1.382 27
Thewalion Centre Charity Annual Rep¥xlandkctyJnis2023124 Appendix 2 List of Funds, Fund Managers and Objectives Fund Fund Name .' Fund M¥wyer .' M$81 Oblttlives 4009 Geneial . Ctruel F1Tr3rKeOI yctrwilable purpose lo Wallgn Cenire 4010 NRU E Collierifi fvk¥elon ScKrai ar r¢¢reaiNyvl f¥iblies lor inpatnis. impiov4ThJ quab.tyd life 4015 Wards Ft¥YJ Ctr¥el Nte Ilem5 forwards toberEfit palietrt& care¥s atKt slafl. slaff 51udy 5UPP(Mt 4017 R¢)y Fer9uson Comp CareAwaRI L Sall knnualiompa55ionate care pi(4e£t 4019 HeadathèArKI Naot(w Fund Research Mheadache alw disoiders.. support presental#)ns 4422 Pain Rel Re5eaich Fund Dt M CWJ Research drxj UCliT7 1442 Neuro cer?1 Resea¢ch Rearth proieclc ting loany aspect ofc.1HCaI rxlence 4457 Neuro Muscukr Di%ea5es FuThJ Re5eJchaKlleaching in lhefiddOfurOMuscU1ordiSeases 4464 .' Cerebro Voxulai FWKI '. RerwrtheducatK>n. trairiTh) aThY equipmenl 4465 H(¥ne From H(¥ne FinarKeoifrer .' MaM)kw) ielaii¥es' acconYK)dèiion 4401 Neuro5UIgKal GerEral fund Dr S Nr¥en Re5eafch. educaliory èfKI e4uiwenl 4487 Horsley ITU Fund Improve thn¢lard of tare 10 P31iÈnis and Ihai ieiaiives.. SiLxYy 4499 Epikpsy Fund Research 4527 RbD & Higher Study Researc educat, Iraining af¥J equiwnenl 4528 NeurophysKAogy Train. & E(kK. C Finnegan TrafftirWeducatK>nfor NeLJFophysiobgy staff 4530 NeurokngKal &satxb'ty Fund Pri4 CYwr¥J Re5earcWservice deYeioFKnent actMtie5 in disabling 4532 L Loudrey Mvml [SorderS Reseaichènd educ& 4533 Alan Sulclilfe Kelr Lecture Furyj Ch[ FinarKeOfficer SpKiabsl re5eaich and educat 45JlS 5lereoiat1 FiJrKJ MT J Farahl MS U Ilhaiga¥3 fiewrcn affj vaining NcurtsbiheMl5lty fund Research, edLat Iroining eqUiPMent 454 Chsnrdpr4 nf Pn1 fPn Fiirwl .' DrAP RPrIaarr ptliJrAtw dpvplr¥Jtnpnt nf npw EpNirp wuliitTrJpE 4550 Neurop5ycFthty Fund Reseaictt patienteducaiion and equipmeni lo benehl patients 4552 Paikiri5ons thsease M &ewJer Researth edLKatK)n arKJ IrainiThJ 4900 Newo X-Ray Research A(fvancern1 of Neuror&YK)logy 4905 NeurosuigKal Neuro.fvology Prof A 8nxeiV Profm Jern5( Re(h, ed1 Iiaining arKI equipment 4910 Blain InfeclK¥15 Re5eaiih 4911 Nrno arKS Atypal Thsrmders Dr S Huda Research palEnl care 4915 The Skl Waikw)s InrK)vaiti) FuThl ch FThr Otk Supput InwaI IhroughThe Walloncenlie in fesearc everi. dwn(>9s Irealmenl a[ the overall caweof with di5ea5e5 (x injuryof Ihe nerviJu5 5yslem 28
Thank yoy The Charity is grateful to all our donors and supporters for all they do to raise funds_ and awareness for The Walton Centre Chayity. akea erence opa ien d thei amilies both now d in the futur
Contact us If you would like to contact us about fundraising. event5 or volunteerlng please ge touch. Call 0151556 3466 Write The Walton Centre Charity The Walton Centre NHS Foundation Trust Lower Lane, Fazakerley Liverpool L9 7LJ Visit thewaltoncentrechar5ty.org RegIsted Charity number 1050QS0 Registered with FR FUNDRAISING REGULATOR The Walton Centre Charity Jupportifrig Sx6GIIG*IG