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← The Walton Centre Charity

2025-03-31-accounts

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The Walton Centre Charity Annual Report and Accounts 2024/25

Welcome to The Walton Centre Charity Annual Report for 2024/25

In another year marked by economic uncertainty and continued pressure on fundraising across the charity sector, I am proud to report that The Walton Centre Charity has once again risen to the challenge. Thanks to the generosity and commitment of our supporters, income this year has remained strong — enabling us to extend our support across a broad range of projects that directly benefit patients, their families, and staff at The Walton Centre NHS Foundation Trust.

This allowed us to continue to support

The Walton Centre NHS Foundation Trust across many areas, positively impacting patients, their families, and our staff.

From the regular support of our wonderful Home from Home facility, which provides relatives with somewhere comfortable and close to stay while their loved one is receiving emergency treatment at the hospital; to 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 significantly improve diagnostic timeframes and enhance opportunities for patient research participation.

In addition, the Charity was able to provide a research capability grant to help enable and develop research at the Trust; as well as several grants to support enhanced training opportunities for staff to ensure they remain at the forefront of clinical and research developments for the benefit of all patients.

We couldn’t do any of this without our supporters – whether you have run a marathon 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.

It is because of people like you that the lifechanging work of The Walton Centre can continue, making a real difference to our patients every single day.

Cover image - Occupational therapists supporting a patient (posed by member of staff) with charity-funded equipment

In another year marked by economic uncertainty and continued pressure on fundraising across the charity sector, I am proud to report that The Walton Centre Charity has once again risen to the challenge. Thanks to the generosity and commitment of our supporters, income this year has remained strong — enabling us to extend our support across a broad range of projects that directly benefit patients, their families, and staff at The Walton Centre NHS Foundation Trust.

Our ongoing commitments remain central to our mission — including the much-valued Home from Home accommodation for relatives, the Research Capability Grant, and our Music for Health partnership with Liverpool Philharmonic, which continues to enhance wellbeing for patients and staff.

This year, we were also pleased to fund several new innovative and impactful projects. These include the purchase of an additional awake craniotomy monitoring system to help advance a key service improvement, the development of a video resource to support patients preparing for awake craniotomy procedures, and the introduction of the ‘Big Ear’ monitoring devices on wards to support the hospital’s Noise at Night campaign — improving the environment to enable patients to rest and recover.

We were especially grateful to receive several generous legacy gifts this year, totalling £228,300. These gifts, left to the Charity by supporters who chose to make a lasting difference beyond their lifetime, will have a significant impact. Legacy income plays a vital role in allowing us to plan ahead with confidence and fund transformational projects that enhance care and experience for patients now and in the future.

We remain committed to supporting innovation, clinical excellence, and patient experience at The Walton Centre — none of which would be possible without our incredible fundraisers and donors. Whether you’ve hosted a bake sale, tackled a challenge event, attended our charity events, made a donation in memory of someone special, or remembered the Charity in your will — thank you. Your support ensures we can continue to fund lifechanging projects that make a real and lasting difference to patients every day.

Clive Elliott

Chair, The Walton Centre Charity Committee and Non-Executive Director, The Walton Centre NHS Foundation Trust

Image left - Former Liverpool FC Women's goalkeeper Rylee Foster speaking

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The Walton Centre Charity Annual Report and Accounts 2024/25

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, details of the fund managers, and aims and objectives for each fund are provided on pages 25 and 27 of this report.

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.

Family fundraisers the O’Malleys

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 2024/25

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 £640,000 (total income including return on investments £676,000).

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.

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

Fundraising activities and donations

Grant making trusts and foundations

Legacies

During the year under review the Charity received a total of £228,300 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.

Volunteers

The Trust currently has approximately 57 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.

Forward look

Over the next year, The Walton Centre Charity will begin the delivery of its new three-year strategy, with a continued focus on enhancing care and experience for patients, families and staff. Funding will remain centred on key priorities including improved patient experience through innovation, new technology, and research. Support for staff will also remain a focus through initiatives that promote health and wellbeing, and professional development opportunities that contribute to outstanding clinical and research outcomes.

As the Charity looks to grow and diversify its income, activity will increase around regular giving, digital and social media fundraising, community and corporate partnerships, and a refreshed legacy marketing campaign. These efforts will help create more predictable, sustainable income streams to support longterm investment.

To strengthen grant-making and impact, a new online application system will be introduced, supported by clear assessment criteria. Alongside this, the Charity will roll out improved monitoring, evaluation and learning processes to better understand and communicate the difference donor support makes.

In alignment with the Trust’s priorities and its role within the emerging NHS group model, the Charity will work closely with clinical and operational teams to shape a forward-looking project pipeline. This will ensure future charitable investment supports strategic objectives and maximises patient benefit.

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The Walton Centre Charity Annual Report and Accounts 2024/25

Review of the year

During the year the Charity received a total income of £676,000 (2023/24: £528,000) which is an increase of £148,000.

The overall increase can, in the main, be attributed to legacy income received in year.

The Charity’s corporate partners and supporters continued to support its in-house organised events, including the Golf Day and the Jan Fairclough Ball. Community fundraising shows a 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, with an increased number of new donors coming through the Charity website and social media platforms. The year has also seen a significant increase of inmemory donations and legacies.

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 awake craniotomy monitoring system, a Research Capability Grant to help enable and develop research at the Trust, and a number of grants to support enhanced training opportunities for staff to ensure they remain at the forefront of clinical and research developments for the benefit of all patients.

During the year under review, the Charity spent £557,000 (2023/24: £643,000). The Charity’s expenditure covers its charitable objectives, fundraising, administration and governance support costs.

In 2024/25 expenditure on charitable activities was £273,000 (2023/24: £281,000) covering three main areas:

In addition to welfare and amenities, funding was also made available for professional development, 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.

Including the £23,000 net loss on investments (which is treated as a component of net income), the total income for the Charity exceeded expenditure by £96,000 for the year.

Image right - Fundraisers taking part in an abseil at Anfield Stadium

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SSS BSSSR ASSS The Walton Centre Charity ~ Annual Report and Accounts 2024/25 Volunteers Forward look The Trust currently has approximately 47 The Charity aims to continue its work to registered volunteers working in various fund a variety of projects which will help departments throughout the Trust. improve patient care and services. These = S SSS include new technology and innovations, a0 an The volunteers provide a much-needed trolley research, as well as improved facilities for service for the inpatients and staff. Other volunteer activity covers the Meet and Greet, our patients and families. Infection Control, Neuro Buddies, Gardening, Pain Management Programme and Neurophysiology The Charity will also continue to support staff Outpatient services. The Volunteer service is with health and wellbeing initiatives, as well as supported by the Charity. 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 i ‘ my) oe: ce . . my ij Nee Sons “J ion — \ a Fal as well as developing a more proactive legacy marketing campaign. aay eT ag Working closely with the Trust’s Communications and Marketing Team, the Charity’s positive impact = a, 1 * o a es, will be shared both internally and externally to % i. “ 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 Fa ">. | = oq tig a . : ‘We LE = —_ . = rhs, | and promote the process through which future Volunteers with the sweet trolley fundraising projects can be identified. This will a a ea 2 aS Hy Slt : = i ensure that wider engagement with clinical + 1 pa ~ s 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 2024/25

Structure, governance and management

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

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 designated fund balance within the existing Charity, or a new designated fund is created if necessary.

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.

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

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 designated 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 on page 25.

A still from a charity funded video to inform patients on the awake craniotomy procedure.

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 Chief Finance Officer. Any expenditure more than £5,000 is approved by the Committee.

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The Walton Centre Charity Annual Report and Accounts 2024/25

Reference and administration details

Name

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

T 0151 556 3482

E mike.burns3@nhs.net

Bankers

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

Independent examiner

Anita C Mason BA(Hons) BFP FCA Mitchell Charlesworth Suites C, D, E & F, 14th Floor, The Plaza 100 Old Hall Street, Liverpool, L3 9QJ

Investment advisors

CCLA Senator House 85 Queen Victoria Street London EC4V 4ET

Ruffer LLP 80 Victoria Street London SW1E 5JL

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The Walton Centre Charity Annual Report and Accounts 2024/25

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 2025 the following people served as directors of the Trustee:

Max Steinberg CBE

Chair

Jan Ross Chief Executive

Dr Andrew Nicolson Medical Director

Ray Walker Non-Executive Director

Professor Paul May Non-Executive Director

Su Rai

Non-Executive Director

Clive Elliott

Non-Executive Director

David Topliffe Non-Executive Director

Irene Afful Non-Executive Director

Mike Burns Chief Finance Officer

Gary Price

Chief Operating Officer (from 4 Aug 2024)

Matt Gardner

Chief Digital Information Officer

In the year ended 31 March 2025 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 – stepped down 11 March 2025)

Professor Paul May Non-Executive Director

Clive Elliott

Non-Executive Director (Chair from 11 March 2025)

Mike Burns: Chief Finance Officer

Mike Gibney Chief People Officer (resigned 10 Jan 2025)

Jane Mullin Interim Chief People Officer (from 13 Jan 2025)

Jo Shaw Deputy Chief Nurse

Dr Sacha Niven

Consultant Neuroradiologist and Deputy Medical Director

Mr Neil Buxton

Consultant Neurosurgeon

Dr Peter Moore

Consultant Neurologist (stepped down 19 April 2024)

Dr Viraj Bharambe Consultant Neurologist (from 19 April 2024)

Mike Gibney

Chief People Officer (resigned 10 Jan 2025)

Jane Mullin

Interim Chief People Officer (from 13 Jan 2025)

Nicola Martin Chief Nurse

Lindsey Vlasman

Chief Operating Officer (resigned 1 Aug 2024)

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The Walton Centre Charity Annual Report and Accounts 2024/25

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 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.

• Reputational

The Charity has a very low risk appetite for actions and decisions which may damage our reputation. It therefore puts a strong emphasis on rigorous processes to be followed in its financial dealings, and when engaging with third parties..

These risks and other identified risks relating to the Charity are analysed in more detail in a formal risk register which includes controls and actions to mitigate risks. The risk register is reviewed annually and is also included on the consent agenda for each quarterly meeting of the Committee.

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.

• Financial

The most significant risk identified is financial including insufficient fundraising income and reserves; and 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 longerterm 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

• Organisational

The Charity recognises that it works in an everchanging environment where its governance arrangements and organisational structure will need to evolve over time. It will accept some risks in these circumstances to ensure it is positioned to optimum advantage providing any change does not impact on its core sustainability.

• Developmental

The Charity accepts a degree of risk that is part and parcel of its willingness to support innovation, facilitate change and to evolve its support for the benefit of NHS patients and the wider public. These risks will be monitored as grants are awarded and projects are completed.

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The Walton Centre Charity Annual Report and Accounts 2024/25

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 designated 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 2025 less approved committed expenditure and running costs of the Charity it is recommended that reserves of £391,000 be held for a 12 month period.

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The Walton Centre Charity Annual Report and Accounts 2024/25

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:

As an NHS Charity, The Walton Centre Charity has determined that it should limit its investments in certain organisations whose operations could cause poor health for individuals and as such, be contrary to its charitable aims. These restrictions can be found in the supporting documents section. These restrictions are reviewed by the investment managers annually.

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 2025 the stock market continued the fairly volatile trend of the past few years. The market value of the funds at the 31 March 2025 was £1,189,000 which is £23,000 lower than the market value at the 31 March 2024. The Charity benefitted from dividends and interest of £36,000 which represents a positive result, given the low risk nature of the investment portfolio.

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:

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The Walton Centre Charity Annual Report and Accounts 2024/25

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 2025 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 (effective 1 January 2016). 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 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 24 have been compiled from and are in accordance with the financial records maintained by the Trustee.

Signed on behalf of the Trustee

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:

Clive Elliott

Chair of the Charity Committee 4/12/25

Image right - Staff member Katy Walker with charity funded hair products for intensive care patients

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The Walton Centre Charity a Annual Report and Accounts 2024/25
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THE WALTON CENTRE CHARITY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE WALTON CENTRE CHARITY

I report to the trustees on my examination of the financial statements of The Walton Centre Charity (the charity) for the year ended 31 March 2025.

This report is made solely to the charity's trustees, 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 trustees 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 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.

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:

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 Mitchell Charlesworth

Suites C, D, E & F

14[th] Floor, The Plaza

100 Old Hall Street Liverpool L3 9QJ

Dated: ...15 December 2025......................

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The Walton Centre Charity Annual Report and Accounts 2024/25

Statement of financial activities

For the year ended 31 March 2025

For the year ended 31 March 2025
Note 2024/25 2023/24
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Income from:
Donations and legacies 496 305
Other trading activities 144 191
Investments 36 32
Total income 3 676 528
Expenditure on:
Raising funds 284 362
Charitable activities 273 281
Total expenditure 4 557 643
Net gains/(losses) on investments 6 (23) (1)
Net income/(expenditure) and net movement in funds 96 (116)
Reconciliation of funds:
Fund balances brought forward 1,485 1,601
Fund balances carried forward 1,581 1,485

All of the Charity’s funds are unrestricted.

The net income/(expenditure) for the year arises from the Charity’s continuing operations.

The notes on pages 19 to 24 form part of these accounts.

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The Walton Centre Charity Annual Report and Accounts 2024/25

Balance Sheet

As at 31 March 2025

Note 2024/25 2023/24
Total Funds Total Funds
(Unrestricted) (Unrestricted)
£000 £000
Fixed assets
Investments 6 1,189 1,212
Total fixed assets 1,189 1,212
Current assets
Debtors 7 25 18
Cash at bank and in hand 8 437 291
Total current assets 462 309
Creditors: amounts falling due within one year 9 70 36
Net current assets 392 273
Total assets less current liabilities 1,581 1,485
Total net assets 1,581 1,485
Funds of the Charity
Unrestricted 10 1,581 1,485
Total funds 1,581 1,485

The notes on pages 19 to 24 form part of these accounts.

Signed on behalf of the Trustee

Clive Elliott

Chair, The Walton Centre Charity Comittee

and Non-Executive Director, The Walton Centre NHS Foundation Trust

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The Walton Centre Charity Annual Report and Accounts 2024/25

Statement of cash flows

For the year ended 31 March 2025

For the year ended 31 March 2025
Note 2024/25 2023/24
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Cash fows from operating activities:
Net cash provided by (used in) operating activities 110 (271)
Cash fows from investing activities:
Dividends and interest from investments 36 32
Proceeds from sale of investments 0 0
Purchase of investments 0 0
Net cash provided by (used in) investing activities 36 32
Change in cash and cash equivalents
in the reporting period		 146 (239)
Cash and cash equivalents at the beginning
of the reporting period		 291 530
Cash and cash equivalents at the end
of the reporting period		 8 437 291

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)		 96 (116)
Adjustments for:
(Gains)/losses on investments 23 1
Dividends and interest from investments (36) (32)
(Increase)/decrease in debtors (7) (13)
Increase/(decrease) in creditors 34 (112)
Net cash provided by (used in) operating activities 110 (271)

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The Walton Centre Charity Annual Report and Accounts 2024/25

Notes to the Accounts

For the year ended 31 March 2025

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 (effective 1 January 2019) and applicable UK Accounting Standards and the Charities Act 2011.

This is the seventh year that 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

i) Entitlement – arises when control over the rights or other access to the economic benefit has passed to the Charity;

ii) Probable – when it is more likely than not that the economic benefits associated with the transaction or gift will flow to the Charity; and

iii) 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.

ii) The executors have established that there are sufficient assets in the estate, after settling any liabilities, to pay the legacy; and

iii) Any conditions attached to the legacy are either within the control of the Charity or have been met.

1c. Resource Expended

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The Walton Centre Charity Annual Report and Accounts 2024/25

iii. Measurement – the amount of the obligation can be measured or estimated reliably.

1 d) 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.

1e) Investment fixed assets

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 market value at the year-end and opening market value or date of purchase if later.

1g) Foreign currency transactions

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.

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.

1j) Going concern assumption

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.

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The Walton Centre Charity Annual Report and Accounts 2024/25

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.

3. Details of Income

2024/25 2023/24
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Income
Donations 270 269
Legacies 228 36
Fundraising activities and events 142 191
Investment income 36 32
Total income 676 528

4. Details of Expenditure

2024/25 2023/24
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Raising Funds:
Fundraising staf costs
5		 213 225
Fundraising activities and events 71 92
284 317

Charitable Activities:

Charitable Activities:
Patients welfare and amenities 178 232
Staf welfare and amenities 30 22
Research 18 24
Independent examination 3 3
Administrative support 44 45
273 326
Total 557 643

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 2024/25

5. Analysis of Staff Costs

2024/25 2023/24
Total Funds
(Unrestricted)		 Total Funds
(Unrestricted)
£000 £000
Fundraising Staf Costs
Salaries and wages 169 179
Social security costs 19 20
Employers pension contribution 25 26
Total Fundraising Staf Costs 213 225

The average number of employees during the year was 4 (2023/24: 4). One employee received emoluments in excess of £60,000 in the current year in the salary band £80,000 - £90,000 (2023/24: one £70,000 - £80,000).

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

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:

31 Mar 25 31 Mar 24
£000 £000
Market value at the beginning of the reporting period 1,212 1,213
Less Disposals at carrying value 0 0
Aquisitions at cost 0 0
Unrealised gains/(losses) (23) (1)
Market value at the end of the reporting period 1,189 1,212
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:

31 Mar 25 31 Mar 24
£000 £000
Listed investments 1,189 1,212
Total 1,189 1,212

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The Walton Centre Charity Annual Report and Accounts 2024/25

7. Debtors

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

31 Mar 25 31 Mar 24
£000 £000
Trade debtors 14 1
Prepayments 11 17
Total 25 18

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:

31 Mar 25 31 Mar 24
£000 £000
Cash at bank and in hand 437 291
Total cash and cash equivalents 437 291

9. Creditors

The creditor position can be summarised as follows:

31 Mar 25 31 Mar 24
£000 £000
Amounts due to NHS Foundation Trust 24 3
Trade creditors 7 10
Accruals and deferred income
9.1		 39 23
Total 70 36

There were no creditors falling due over one year.

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The Walton Centre Charity Annual Report and Accounts 2024/25

9.1 Deferred income

31 Mar 25 31 Mar 24
£000 £000
Total deferred income at 1 April 23 23
Amounts received in year 14 0
Amounts credited to statement of fnancial activities 0 (-)
Total 37 23

10. Analysis of Funds

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

Balance as at
31 March 2024		 Income Expenditure Revaluation of
investments		 Balance as at
31 March 2025
£000 £000 £000 £000 £000
Unrestricted Funds 1,267 676 (557) 0 1,386
Revaluation Reserve 218 0 0 (23) 195
Total 1,485 676 (557) (23) 1,581

A list of the unrestricted funds and their balances as at 31 March 2025 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 £226,000 (2023/24: £278,000). This included £75,000 for cutting edge technology which included a monitoring system to help advance a key service improvement, also an individual grant of £44,000 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 2024/25 charged a fee of £44,000 (2023/24: £45,000).

At the year end The Walton Centre Charity owed £24,000 to The Walton Centre NHS Foundation Trust (2023/24: £3,000)

12. Events after the Reporting Date

The Trustee is not aware of any events after 31 March 2025 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 2024/25

Appendix 1

List of Funds and Fund Balances as at 31 March 2025

Fund Name Fund Name Fund Balance Fund Balance
31 March 2025 31 March 2024
£000 £000
4009 General Fund 887 834
4010 NRU Fund 17 18
4015 Wards Fund 15 15
4017 Roy Ferguson Compassionate Care Fund 70 70
4019 Headache and Neurology Fund 1 1
4422 Pain Relief Research Fund 2 3
4442 Neuro General Research Fund 7 7
4457 Neuro Muscular Diseases Fund 1 1
4464 Cerebro Vascular Fund 26 26
4465 Home From Home 91 3
4481 Neurosurgical General Fund 20 22
4487 Horsley ITU Fund 75 75
4499 Epilepsy Fund 22 22
4527 R&D & Higher Study 6 6
4528 Neurophysiology Train. & Educ. 0 0
4530 Neurological Disability Fund 3 10
4532 L Loudrey Mvmt Disorders Fund 8 8
4533 Alan Sutclife Kerr Lecture Fund 1 1
4537 Cognitive Research Fund 0 0
4538 Stereotactic Fund 8 8
4541 Neurobiochemistry Fund 5 5
4543 Disorders Of Movement Gen Fund 51 56
4550 Neuropsychology Fund 0 1
4552 Parkinsons Disease 7 8
4900 Neuro X-Ray Research 15 15
4905 Neurosurgical Neuro-Oncology 26 30
4910 Brain Infections Research 5 5
4911 Nmo And Atypical Disorders 17 17
4915 The Sid Watkins Innovation Fund 0 0
1,386 1,267

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The Walton Centre Charity Annual Report and Accounts 2024/25

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 CRU E Cottier/R Moreton Social and recreational facilities for inpatients,
improving quality of life
4015 Wards Fund Chief Nurse Items for wards to beneft patients, carers and
staf; staf study support
4017 Roy Ferguson Comp Care
Award		 Chief Nurse 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 Neurointerventional Fund Dr S Niven Research, education, training and equipment
4487 Horsley ITU Fund Dr A Sule/O Doherty 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 S Alusi Research and education
4533 Alan Sutclife Kerr Lecture Fund Chief Finance Ofcer Specialist research and education
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 Research
4552 Parkinson’s Disease Research, education and training
4900 Neuro X-Ray Research Dr S Niven Advancement of Neuroradiology
4905 Neurosurgical Neuro-Oncology Prof A Brodbelt/ Prof M
Jenkinson		 Research, education, training and equipment
4910 Brain Infections Research Prof T Solomon Research

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The Walton Centre Charity Annual Report and Accounts 2024/25

4911 Nmo and Atypical Disorders Dr SM Huda Research and patient care
4915 The Sid Watkins Innovation
Fund		 Chief Finance Ofcer 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 2024/25

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.

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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

Registered Charity number 1050050

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Registered charity number 1050050

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