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2023-03-31-accounts

Independent auditor’s report to the Corporate Trustee of Our Bolton NHS Charity

Opinion

We have audited the financial statements of Our Bolton NHS Charity (“the charity”) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and related notes, including the accounting policies in note 1.

In our opinion the financial statements:

Basis for opinion

We have been appointed as auditor under section 149 of the Charities Act 2011 (or its predecessors) and report in accordance with regulations made under section 154 of that Act.

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the charity in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.

Going concern

The trustee has prepared the financial statements on the going concern basis as they do not intend to liquidate the charity or to cease its operations, and as they have concluded that the charity’s financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements (“the going concern period”).

In our evaluation of the trustee’s conclusions, we considered the inherent risks to the charity’s business model and analysed how those risks might affect the charity’s financial resources or ability to continue operations over the going concern period.

Our conclusions based on this work:

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

Fraud and breaches of laws and regulations – ability to detect

Identifying and responding to risks of material misstatement due to fraud

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

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

As required by auditing standards, we perform procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries. On this audit we do not believe there is a fraud risk related to revenue recognition because there is minimal complexity in revenue recognition or incentives for management to seek to manipulate revenue as commitments are not made in advance of funding being available.

We did not identify any additional fraud risks.

We performed procedures including identifying journal entries to test based on risk criteria and comparing the identified entries to supporting documentation. These included those posted to seldom used accounts, unusual account combinations, and material post year end journals.

Identifying and responding to risks of material misstatement related to compliance with laws and regulations

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

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

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

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

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

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustee and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

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

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

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

Other information

The trustee is responsible for the other information, which comprises the Chair’s statement, Reference and administrative details, Structure, governance and management, Objective and activities, Income analysis, Expenditure analysis, Looking ahead to 2023/24 and Statement of the Corporate Trustee’s Responsibilities. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

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

We have nothing to report in these respects.

Matters on which we are required to report by exception

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

We have nothing to report in these respects.

Trustee’s responsibilities

As explained more fully in their statement set out on page 15, the trustee is responsible for: the preparation of financial statements which give a true and fair view; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless they either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities

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

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

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

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

Debra Chamberlain

for and on behalf of KPMG LLP, Statutory Auditor

Chartered Accountants

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

1, St Peter's Square, Manchester M2 3AE 29 January 2024

Annual Report and Financial Statements Year ending 31st March 2023

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Contents

Chair’s statement ................................................................................................................................... 3 Reference and administrative details ............................................................................................... 5 Structure, governance and management........................................................................................ 7 Our objectives and activities .............................................................................................................. 8 Income analysis .................................................................................................................................... 10 Expenditure analysis........................................................................................................................... 12 Looking ahead to 2023/24 .................................................................................................................. 14 Statement of the Corporate Trustee’s responsibilities ............................................................. 15 Statement of financial activities for the year ended 31[st] March 2023 ................................... 16 Balance sheet for the year ended 31[st] March 2023 .................................................................... 17 Statement of cash flow for the year ended 31[st] March 2023.................................................... 18 Notes on the accounts ........................................................................................................................ 19

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Chair’s statement

It is my pleasure to present the annual report and audited financial statements for Our Bolton NHS Charity for the year ending 31[st] March 2023.

As the official NHS charity partner of Bolton NHS Foundation Trust, we go over and above what the NHS is expected to provide to make a lasting and meaningful difference to the people of Bolton. Our mission is to invest in the latest technology and research; make improvements to the care environment and experience so patients feel comfortable and at ease, and fund specialist training and wellbeing support so our staff provide the highest standard of care to our patients.

Throughout 2022/23, we continued to receive valued support from the local Bolton community with £556,000 in legacy donations and £19,000 from gifts in kind. In this first year without Covid-19 restrictions, we were delighted to see the return of community fundraising, which contributed to £141,000 in donations, and continue to be humbled by the reasons our supporters fundraise in aid of Our Bolton NHS Charity.

Acting on behalf of the Corporate Trustee, we have a legal duty to ensure that money received is used appropriately and responsibly. In 2022/23, we invested £669,000 in a range of schemes designed to improve staff wellbeing and the patient experience at Bolton NHS Foundation Trust. A full breakdown of direct charitable expenditure can be found on page 12, but a particular highlight is the complete refurbishment of the faith facilities at Royal Bolton Hospital.

The revamped faith facilities include a bright and spacious mosque, temple and community hub, which offers a versatile space for communities to come together as well as a place to host staff network and support events. The project – costing £426,000 – was funded through donations to Our Bolton NHS Charity and a grant from NHS Charities Together. The facilities are intended to support the spiritual wellbeing of staff, patients and visitors, and were officially opened by the Mayor of Bolton in March 2023, coinciding with the start of Ramadan.

“This charitable investment is a really unique and impressive way of improving staff and patient experience through spiritual wellbeing and valuing cultural diversity. We’re really proud to have been a part of this, and having listened to staff and various community groups in Bolton, there is no doubt this will be a very special space for years to come.”

Ellie Orton OBE, CEO at NHS Charities Together

Looking ahead to 2023/24, the NHS’ 75[th] birthday will provide a special opportunity to reflect on our achievements, but we will continue to build on our progress with the launch of our three-year strategy (delayed from 2021/22) and plans for investment in Our Bolton NHS Charity thanks to further grant-funding from NHS Charities Together.

On behalf of the Charitable Funds Committee, I would like to take this opportunity to thank our incredible donors, volunteers and supporters, without whom, none of the above would have been possible. We have exciting and ambitious plans for 2023/24, but we cannot deliver them on our own so please get involved and help us make a lasting and meaningful difference to the people of Bolton.

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Martin North Chair of the Charitable Funds Committee

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Reference and administrative details

Our Bolton NHS Charity, registered charity number 1050488, is administered and managed by the corporate trustee – Bolton NHS Foundation Trust. The Bolton NHS Foundation Trust Board of Directors has delegated responsibility for the on-going management of funds to the Charitable Funds Committee, which administers the funds on behalf of the corporate trustee.

The Charity’s annual accounts for the year ended 31[st] March 2023 have been prepared by the Corporate Trustee in accordance with the Charities Act 2022 and Statement of Recommended Practice (SORP): Accounting and Reporting by Charities published in 2015. The Charity’s accounts include all the separately established funds for which the Bolton NHS Foundation Trust is the sole beneficiary.

The main charity, Our Bolton NHS Charity, was entered on the central register of charities on 20[th] October 1995, as Bolton Hospitals NHS Trust Endowment Fund and renamed by supplemental deeds on 5[th] October 2005, 5[th] June 2009, 13[th] September 2011 and 27[th] July 2021.

Charitable funds received by the Charity are accepted, held and administered as funds and property held on trust for purposes relating to the health service in accordance with the National Health Service Act 1977 and the National Health Service and Community Care Act 1990 and these funds are held on trust by the corporate body.

The principal office for the Charity is:

Bolton NHS Foundation Trust, Trust Headquarters, Royal Bolton Hospital, Minerva Road, Farnworth, Bolton, BL4 0JR

Principal staff (employed by Bolton NHS Foundation Trust):

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The following services were retained by the Charity during 2020/21:

Bankers

Royal Bank of Scotland, Bolton Central Branch, 46-48 Deansgate, Bolton, BL1 1BH

Solicitors

Hempsons Solicitors City Tower, Piccadilly Plaza, Manchester, M1 4BT

External Auditor

KPMG One St Peter's Square Manchester M2 3AE

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Structure, governance and management

Structure of funds

The Charity currently has three special purpose trusts/funds.

As at March 2023, the Trust had 61 individual funds relating to individual wards and departments. Ward Managers and Heads of Department manage funds at a local level and all expenditure is authorised in accordance with the Trust’s standing financial instructions, standing orders and charitable fund procedures.

Charitable Funds Committee

The Charitable Funds Committee acts on behalf of the Corporate Trustee and is responsible for the overall management of the Charity. Key duties of the Charitable Funds Committee include:

Risk management

The major risks to which the Charity is exposed have been identified and considered. Internal audit reviews will continue to take place on a cyclical basis to ensure controls are appropriate. The Corporate Trustee is satisfied that systems are in place to mitigate exposure to identified risks and will review on an annual basis as per the Charitable Funds Committee terms of reference.

Investment policy

The majority of funds are held in the Specialist Interest Bearing Account (SIBA).

Reserves policy

The policy of the Corporate Trustee is to apply, wherever possible and without delay, all funds to charitable purposes within the Trust. Expenditure is approved only where sufficient funds are available.

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Our objectives and activities

Objective

Our objective is not to fund patient care, but to enhance and improve it, providing funding for projects that are over and above those served by NHS funding.

We aim to increase both income and expenditure of funds for the primary purpose of enhancing the patient experience within the Trust, which includes:

In setting the objectives and activities of the Charity, the Corporate Trustee has given due consideration to the Charity Commission’s published guidance on public benefit.

Mission statement

Through the receipt of donations, legacies, fundraising activities and appeals, Our Bolton NHS Charity will further improve the provision of high quality patient care, specialist training and education for staff and the provision of amenities for both patients and staff, which are not fully covered or supported by central NHS funds.

Activities

We continue to be supported by individuals, community groups, charities and institutions. A range of individuals and groups have held events to raise funds for their chosen cause.

Where our funds came from

In 2022/23, the Charity received £141,000 from donations, £556,000 from legacies, and £19,000 from gifts in kind.

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The year in review

Following two incredibly challenging years at the hands of the Covid-19 pandemic, 2022/23 marked the start of the post-pandemic era with the cessation of all Covid-19 restrictions and a firm focus on recovery and future resilience. However, while the pandemic has undoubtedly heightened public awareness of the contribution that charities (including NHS charities) make to society, optimism for income generation and financial stability has been tempered by rising inflation, resulting in a cost of living crisis that has seen demand for charities increase significantly but financial support from some donors and funders decrease.

Charity strategy and development

We are delighted to have written our first charity strategy, which sets out our objectives for 2023 to 2026 and describes how we will:

2022/23 has been a foundational year ahead of the launch of the strategy in April 2023 and – as such – our focus has been on building relationships within Bolton NHS Foundation Trust, across our community and nationally with our charity partners, including NHS Charities Together.

NHS Charities Together development grant

A one-off grant of up to £30,000 per NHS member charity is available through NHS Charities Together development grants programme. The objective of the development grant programme is to empower the NHS charity sector to be high performing, effective and impactful and grants awarded must:

Following appropriate consultation with key stakeholders, we submitted our application for the £30k grant in December 2022, which focused on three key areas: operations, fundraising and influencing. Assuming we are successful, the development grant will equip the charity team with the knowledge, skills and materials required to deliver the three-year strategy.

Award nominations

Our Bolton NHS Charity’s winter appeal: The Small Things was shortlisted in the ‘Best Charity Campaign’ category of the NHS Communicate 2022 awards. The award – sponsored by NHS Charities Together – recognises charitable campaigns that have delivered exceptional engagement and impact across the NHS, galvanising stakeholders and communities to create tangible and lasting benefits for staff, patients and carers. Unfortunately, Our Bolton NHS Charity did not win; however, it was wonderful to be recognised amongst much larger, independent NHS charities, including the Royal Free Charity and the Addenbrook Charitable Trust.

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Income analysis

The total income for 2022/23 was £724,000 compared with £353,000 in 2021/22. The majority of income came from donations (including funds raised through ‘in aid of’ events) and legacies, which increased by 50% and 127% respectively when compared with 2021/22.

----- Start of picture text -----
Analysis of income received compared with 2021/22
Investment income Fundraising Events Grants Gift In Kind Legacies Donations
2021/22
2022/23
0 100 200 300 400 500 600
£000
----- End of picture text -----

Fundraising highlights

Fundraising by Bolton NHS Foundation Trust employees

Bolton NHS Foundation Trust employees raised more than £10,880 for Our Bolton NHS Charity across three separate fundraising events during May and June 2022. The Breast Services team organised a glitter ball, which raised £7,930 and helped to fund mastectomy bras so women who undergo a mastectomy can leave hospital with a greater degree of confidence. The Health Improvement Nursing team cycled the 218.4 virtual miles between the Royal Bolton Hospital and the Florence Nightingale Statue in London in under 12 hours, raising £2,060 to enhance patient and relatives’ facilities on the children’s ward. And members of the Strategy and Transformation team took on the Yorkshire Three Peaks and completed the 24 miles (including 1,585 metres of ascent) in 13.5 hours, raising £790 for the Small Things appeal.

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Fundraising by former patients and their families

The mother and grandmother of twins, who were cared for by staff on Bolton Neonatal Unit back in 2019, organised their third World Prematurity Day charity ball and raised over £19,000 split equally between Our Bolton NHS Charity, Bliss Charity and Ronald McDonald House Charity. Funds raised will contribute towards Bolton Neonatal Unit’s efforts to become an accredited FICare provider and empower parents to become confident in caring for their baby, through staff education and support; parent education, NICU environment and psychosocial support.

Fundraising by the local business community

In September 2022, Gareth Price took on the Italian Alps and Dolomites in recognition of the care his partner received from maternity staff when she gave birth to their daughter at Royal Bolton Hospital in 2018. Gareth – Director of Bolton Spin Studio and Founder of Tunity CIC – set himself the ambitious target of cycling 10,000 metres elevation in six days. Despite challenging weather conditions, Gareth finished with half a day to spare and raised more than £600. Gareth has since pledged to support Our Bolton NHS Charity for the next 12 months with another three endurance challenges planned, including the Yorkshire 3 Peaks.

Fundraising by the local school community

Kings Leadership Academy approached us with a proposal to raise £2,000 to buy presents for children in hospital over Christmas. Following discussion with the Charity Manager about the sustainable impact of oneoff gifts versus equipment that could distract and entertain hundreds of paediatric patients every year, the organisers agreed to donate the £2,800 raised and create a lasting legacy at Royal Bolton Hospital. The funds will be used to purchase the children’s ward’s first medical gaming cart, which is anticipated to benefit more than 2,000 young patients each year.

Fundraising by the local faith communities

Bolton Masjids Chanda Committee and Bolton Council of Mosques invited donations from the local Muslim community during Ramadan 2022 and raised £38,240.34, which contributed towards the relocation and refurbishment of faith facilities at the Royal Bolton Hospital. The aim of this project is to increase the footprint and capacity of the existing Mosque and Temple so they better meet the needs of our Muslim and Hindu colleagues, volunteers and patients, as well as providing a multi-functional community space that can be used for bereavement support as well as meetings, conferences and events.

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Expenditure analysis

Of the £753,000 total expenditure (£387,000 in 2021/22), £650,000 (£310,000 in 2021/22) was on direct charitable activities across a range of programmes, for the benefit of patients, service-users and the local health community. The remaining £103,000 is attributed to gifts in kind (£19,000) for the benefit of patients, and governance costs (£84,000), which relate to statutory external audit and staffing costs.

----- Start of picture text -----
Analysis of direct charitable expenditure compared with
2021/22
Other Patient welfare & amenities
Staff education & welfare New building, refurbishment & care
Purchase of new equipment
2021/22
2022/23
0 50 100 150 200 250 300 350 400 450 500
----- End of picture text -----

Charity-funded schemes and expenditure highlights

Improvements to staff, patient and visitors’ facilities

T hanks to grant-funding from NHS Charities Together and the support of the local Muslim and Hindu community, Our Bolton NHS Charity funded the complete refurbishment of the faith facilities at the Royal Bolton Hospital. The enhanced facilities (including a new community hub) supports the Trust to better meet the religious, spiritual and pastoral needs of patients and service-users, which is understood to improve health outcomes. Similarly, the quality of staff rest facilities (including faith and prayer rooms) is a strong contributor to employee health and well-being, which – in turn – contributes to the provision of high-quality patient care.

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Purchasing new equipment and supporting research

We have funded a CMAC video laryngoscope, which has been used with great success to facilitate neonatal intubation in babies from 500g up to 4kg. The video laryngoscope also facilitates a process called ‘less invasive surfactant administration’ (LISA) in pre-term infants with respiratory distress syndrome, without the need for mechanical ventilation, which can reduce the risk of death or chronic lung disease. The video laryngoscope is also supporting Bolton NHS Foundation Trust’s participation in SurfON, which is a multicentre, randomised controlled trial, designed to determine how best to treat babies born two to six weeks prematurely with breathing problems. To date, 20 patients from Royal Bolton Hospital have been recruited to participate in the national trial, which has just received a 26-month extension and will now run until 2025.

Supporting staff wellbeing, training and development

Thanks to a legacy bequeathed to Our Bolton NHS Charity in support of staff training and development, we have funded a range of resources to facilitate restorative supervision sessions for colleagues at Bolton NHS Foundation Trust. Restorative supervision is a form of psychological support that helps colleagues manage the emotional demands of their role, while encouraging innovation to shape and improve services for the benefit of patients. Evaluation of the model shows professionals who engage with restorative supervision are more clinically effective, are less likely to be off sick, and develop better workplace relationships (Wallbank, 2012).

The small things that make a big difference

As part of our ongoing commitment to equality, diversity and inclusion, we funded Ramadan packs (including organic dates, Miswak and prayer beads) and Eid cards for Muslim patients, and Lakshmi shadow diyas, LED tea lights and Diwali cards for Hindu patients, so those of faith can continue to observe and celebrate religious festivals even though they are in hospital or recuperating in intermediate care. This items are in addition to the Christmas presents we fund every year and will complement the new faith facilities that are now open at Royal Bolton Hospital.

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Looking ahead to 2023/24

2023/24 will be another important year for Bolton NHS Foundation Trust as it will see the launch of a refreshed corporate strategy and the new clinical strategy. We know the Trust is focused on becoming a truly impactful ‘anchor institution’ in Bolton, supporting people to stay healthy and well for as long as possible; to be a fantastic employer and educational partner, and – over the long term – to reduce the health and societal inequalities that are sadly faced by many people in Bolton. As the Trust broadens its focus to improve health and outcomes across Bolton, Our Bolton NHS Charity will be a key partner in delivery of the Trust’s vision.

Launch of Our Bolton NHS Charity’s three-year strategy

2023/24 will see the launch of our three-year strategy. We will be focussing on ‘high-return’ activities that will raise the profile of Our Bolton NHS Charity while driving fundraising income so we can continue to improve the NHS experience for patients:

NHS 75 celebrations and leveraging support for Our Bolton NHS Charity

5 July 2023 marks the 75[th] anniversary of the NHS, and NHS 75 will provide a year-long opportunity to thank all NHS staff and volunteers, past and present, who have made the organisation what it is.

NHS England is encouraging members of the public to get involved with NHS 75 in a number of ways, including supporting their local NHS charity. We believe there is a lovely synergy between the local community working in partnership with Our Bolton NHS Charity, given many residents are born at the Royal Bolton Hospital; work for Bolton NHS Foundation Trust, or access the many services we provide across the conurbation. As such, NHS 75 presents a very special opportunity to raise the profile and leverage support for Our Bolton NHS Charity with local businesses, education organisations and local community groups.

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Statement of the Corporate Trustee’s responsibilities

Under the Trust deed of the charity and charity law, the Corporate Trustee is responsible for preparing a Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. The Corporate Trustee is required to prepare the financial statements in accordance with UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period.

In preparing these financial statements, generally accepted accounting practice entails that the trustees: select suitable accounting policies and then apply them consistently:

The Corporate Trustee is required to act in accordance with the trust deed of the charity, within the framework of trust law. It is responsible for keeping accounting records which are sufficient to show and explain the charity’s transactions and disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the Corporate Trustee to ensure that, where any statements of accounts are prepared by them under section 132(1) of the Charities Act 2022, those statements of accounts comply with the requirements of regulations under that provision.

It is responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities. These financial statements were approved by the Corporate Trustee on 25[th] January 2024 and were signed on its behalf by:

Martin North Chair of the Charitable Funds Committee

Annette Walker Director of Finance

Sharon White Director of Strategy, Digital and Transformation

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Statement of financial activities for the year ended 31[st] March 2023

Note
Incoming Resources:
Incoming resources from generated funds:
Voluntary income:
3
Donations
Legacies
Gift In Kind
Grants
Sub total voluntary income
Activities for generating funds:
Fundraising Events
9
Investment income
4
Total incoming resources
Resources Expended
Costs of generating funds:
Fundraising Cost
9
Sub total cost of generating funds
Charitable activities:
5
Purchase of new equipment
New building, refurbishment & care
Staff education & welfare
Patient welfare & amenities
Other
Sub total direct charitable expenditure
Other resources expended
Gift In Kind
5
Governance Costs
6
Total resources expended
Net incoming/(outgoing) resources before transfers
Net incoming/(outgoing) resources before other
recognised gains and losses
Net movement in funds
Reconciliation of Funds
Total Funds brought forward
Total Funds carried forward		 Restricted
Funds
£000
60
0
0
0
60
0
1
61
0
0
32
167
9
2
0
210
0
7
217
(156)
(156)
(156)
610
454		 Un-Restricted
Funds
£000
81
556
19
0
656
0
7
663
0
0
92
267
3
45
32
439
19
77
535
127
127
127
785
912		 Endowment
Funds
£000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
42
42		 Total
Total
Funds
Funds
2023
2022
£000
£000
141
94
556
244
19
0
0
0
716
338
0
15
8
0
724
353
0
1
0
1
124
171
434
11
12
88
47
39
32
1
650
310
19
0
84
76
753
387
(29)
(34)
(29)
(34)
(29)
(34)
1,437
1,471
1,408
1,437

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Balance sheet for the year ended 31[st] March 2023

Note
Current assets:
10
Debtors
Cash and Cash Equivalents
Total current assets
Liabilities
11
Creditors falling due within one year
Net current assets or liabilities
Total assets less current liabilities
Net assets or liabilities
The funds of the charity:
Endowment funds
Restricted Income Funds
Un-Restricted income funds
Total charity funds		 Restricted
Funds
£000
0
458
458
(3)
455
455
455
0
455
0
455		 Un-Restricted
Funds
6
952
958
(47)
911
911
911
0
0
911
911		 Endowment
Funds
£000
0
42
42
0
42
42
42
42
0
0
42		 Total
Total
Funds
Funds
2023
2022
£000
£000
6
8
1,452
1,464
1,458
1,472
(50)
(35)
1,408
1,437
1,408
1,437
1,408
1,437
42
42
455
610
911
785
1,408
1,437

The notes at pages 19 to 27 form part of these accounts.

Signed:

Name: Annette Walker Date: 25[th] January 2024

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Statement of cash flow for the year ended 31[st] March 2023

Net movement in funds for the reporting period (as per the
statement of financial activities)
Adjustments for:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net Cash provided by (used in) operating activities
Cash Flows from investing activities:
Dividends, interest and rents from investments
Net cash provided by (used in) investing activities
Change in Cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2023
2022
£000
£000
(29)
(34)
2
(4)
15
2
(12)
(36)
0
0
0
0
(12)
(36)
1,464
1,500
1,452
1,464

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Notes on the accounts

1. Accounting Policies

a) Basis of preparation

The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at market value. The financial statements have been prepared 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) and the Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS 102.

Going Concern

The financial statements have been prepared on a going concern basis, which the Corporate Trustee considers to be appropriate for the following reasons. The business model of the charity is such that its charitable activities are limited to those which it has sufficient funds to support from the excess of funding received over the cost of administering the charity. The charity therefore has no specific commitments and no committed costs beyond its fixed costs of operation, which are detailed in note 6.

The Corporate Trustee has reviewed the cash flow forecasts for a period of 12 months from the date of approval of these financial statements, which indicate that the charity will have sufficient funds to meet its liabilities as they fall due for that period.

b) Income and Endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations, are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Gifts in kind are valued at estimated fair market value at the time of receipt.

Legacy gifts are recognised on a case-by-case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of

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reasonable accuracy and the title to the asset having been transferred to the charity.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield ofthe investment portfolio.

c) Expenditure Recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (e) below.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.

The provision for a multi-year grant is recognised at its present value where settlement is due over more than one year from the date of the award, there are no unfulfilled performance conditions under the control of the Charity that would permit the Charity to avoid making the future payment(s), settlement is probable and the effect of discounting is material. The discount rate used is the average rate of investment yield in the year in which the grant award is made. This discount rate is regarded by the trustees as providing the most current available estimate of the opportunity cost of money reflecting the time value of money to the Charity.

Grants are only made to related or third party NHS bodies and non-NHS bodies in furtherance of the charitable objects of the funds. A liability for such grants is recognisedwhen approval has been given by the Trustee. The NHS Foundation Trust has full knowledge of the plans of the Trustee, therefore a grant approval is taken to constitute a firm intention of payment, which has been communicated to the NHS Foundation Trust, and so a liability is recognised.

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d) Allocation of overhead, support and governance costs

Overhead and support costs have been allocated as a direct cost or apportioned on an appropriate basis (see note 6) between Charitable Activities and Governance Costs. Once allocation and/or apportionment of overhead and support costs has been made the remainder is apportioned to funds on a transactional basis.

Governance costs comprise of all costs incurred in the governance of the Charity. These costs include costs related to statutory audit together with an apportionment of overhead and support costs.

e) Expenditure on raising funds

The costs of raising funds are those costs attributable to generating income for the Charity, other than those costs incurred in undertaking charitable activities or the costs incurred in undertaking trading activities in furtherance of the Charity's objects. The expenditure on raising funds represent fundraising costs together with investment management fees. Fundraising costs include expenses for events and the costs for the fundraiser's salary, this is recharged to the Charity by the Foundation Trust.

f) Expenditure on charitable activities

Costs of charitable activities include grants made, governance costs and an apportionment of overhead and support costs as shown in note 6.

g) Irrecoverable VAT

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

h) Funds structure

Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified as an endowment fund, where the donor has expressly provided that only the income of the fund may be applied, or as a restricted income fund where the donor has provided for the donation to be spent in furtherance of a specified charitable purpose. The major funds held within these categories are disclosed in note 14.

i) 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 (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later). Realised and unrealised gains and losses are combined in the Statement of Financial Activities.

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j) Going concern

In preparing these accounts the Corporate Trustee has considered the future activities of the Charity and consider it to be a going concern.

k) Transfer of Funds from NHS Bodies

There have been no transfers in 22/23 from NHS bodies.

2. Related party transactions

The Bolton NHS Foundation Trust receives grants from Our Bolton NHS Charity; the Foundation Trust is the Corporate Trustee of the Charity (note 7). During the year, the following were members of the Foundation Trust Board of Directors:

Fiona Noden, Chief Executive Annette Walker, Chief Finance Officer Rae Wheatcroft, Chief Operating Officer Francis Andrews, Medical Director Sharon White, Director of Strategy James Mawrey, Director of Workforce and OD Donna Hall, Chair of Bolton NHS Foundation Trust Tyrone Roberts, Chief Nurse Malcolm Brown, Non-Executive Director Bilkis Ismail, Non-Executive Director Jackie Njoroge, Non-Executive Director Martin North, Non-Executive Director Alan Stuttard, Non-Executive Director Zada Ali Shah Non-Executive Director Rebecca Ganz, Non-Executive Director Sharon Katema, Director of Corporate Governance

None of the above has received honoraria, emoluments or expenses from the Charity for the year ended 31st March 2023.

During the year, no member of the key management staff or parties related to them has undertaken any material transactions with Our Bolton NHS Charity.

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3. Analysis of voluntary income

Donations
Breast Fund
Neonatal & Paediatric Services Fund
General Purposes Fund
Cancer Services
Critical Care Fund
Special Care for Special Babies
Other Funds (55)
Sub total
Gift In Kind
General Purpose Fund
Sub total
Legacies
General Purpose Fund
Cardiology
Ophthalmology
Stroke
Sub total
Total		 Restricted
Un-Restricted
Funds
Funds
£000
£000
8
10
8
20
42
24
0
3
0
4
1
0
1
20
60
81
0
19
0
19
0
258
0
283
0
14
0
1
0
556
60
656		 Total
Total
Funds
Funds
2023
2022
£000
£000
18
10
28
15
66
39
3
4
4
4
1
0
21
22
141
94
19
0
19
0
258
242
283
1
14
1
1
0
556
244
716
338

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4. Analysis of investment income

Gross income earned from: 2023 2022
Held in UK Held in UK
£000 £000
Interest from Bank Account 8 0
Total 8 0

5. Analysis of charitable expenditure

The charity undertook direct charitable activities and made available grant support to Bolton NHS Foundation Trust in support of physical and cash donated assets.

Allocation of support costs and overheads
Activities
undertaken
directly
£'000
Purchase of new equipment
100
New building, refurbishment & care
0
Staff education & welfare
12
Patient welfare & amenities
48
Other
32
Total
192
Allocation and
Allocated
apportionment to
to
Governance Costs
Governance
£'000
Salaries & related costs
77
Statutory External Audit (inc VAT)
7
Total
84		 Grant
Support
Gift In
2023
2022
Funded
Costs
Kind
Total
Total
activity
£'000
£'000
£'000
£'000
£'000
24
16
0
140
212
434
54
0
488
15
0
1
0
13
110
0
8
19
75
48
0
4
0
36
2
458
84
19
753
387
Residual
2023
2022
Basis of
for
Total
Total
Apportionment
Apportionment
£'000
£'000
106
183
158
Fixed and
transactional
0
7
7
Governance
106
190
165

6. Allocation of support costs and overheads

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7. Analysis of grants

The Charity does not make grants to individuals. All grants are made to Bolton NHS Foundation Trust in the form of donated assets.

During the year, a cash grant of £425k was made to Bolton NHS Foundation Trust for the new Multi-Faith Centre on RBH site.

Grant made available to Bolton NHS Foundation
Trust in the form of cash
Total		 Restricted
£'000
167
167		 Unrestricted
Total 2023
£'000
£'000
258
425
258
425

8. Transfers between funds

There have been no transfer between funds during the year.

9. Analysis of fundraising events

There have been no fundraising events during the year.

10. Analysis of current assets

Debtors under 1 year
Accrued Income and Aged Debt
Total
Analysis of cash and deposits
R.B.S. Special Interest Bearing Account
R.B.S. Current Account
Total
Total Current Assets		 2023
2022
Total
Total
£000
£000
6
8
6
8
2023
2022
Total
Total
£000
£000
1,442
1,454
10
10
1,452
1,464
1,458
1,472

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11. Analysis of current liabilities and long term creditors

Creditors under 1 year 2023 2022
Total Total
£000 £000
Other creditors 19 15
Accruals 31 20
Total 50 35

12. Contingencies

The Trust has no contingent liabilities or assets.

13. Commitments

The Corporate Trustee recognises that it has commitments for goods or services that have yet to be received for £283,152.66.

14. Analysis of charitable funds

Material Funds
RBH General Purposes
Cancer Services
Cardiology
Elderly Medicine
Special Care for Special Babies
Community Funds
Breast Unit
Eye Unit
Other Funds
Total		 Balance
b/fwd
£000
696
78
101
13
66
97
52
31
261
1,395		 Income
£000
343
4
289
0
1
1
19
15
52
724		 Resources
Expended
£000
(550)
(6)
(81)
(2)
(23)
(12)
(8)
(7)
(64)
(753)		 Gains &
Fund
Losses
c/fwd
£000
£000
0
489
0
76
0
309
0
11
0
44
0
86
0
63
0
39
0
249
0
1,366

The General Purposes Fund receives donations from donors who have not expressed a preference as to how the funds should be spent, these funds are used by the Corporate Trustee for any charitable purpose(s) related to Bolton Hospital.

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During the year, the General Purposes fund has received donations in the form of a legacy and general donations. The General purpose fund has funded the Multi Faith Centre in the form of a grant to Bolton NHS Foundation Trust.

The Cancer Services Department receives many donations from grateful patients, funds are mainly used to purchase equipment for the department.

The Cardiology Department receives many donations from grateful patients and also from legacies, funds are mainly used to purchase equipment for the department. This year the department has purchased a stress test system with treadmill.

The Elderly Medicine Department receives many donations from grateful patients and also from legacies, funds are mainly used to purchase equipment for the department.

The Special Care for Special Babies campaign was launched in 2017 and the funds will be used to create a spacious and calm environment for families to be with their babies. This year the department has purchased furniture for the parental accommodation.

The Community Services Department receives many donations from grateful patients and also from legacies, funds are mainly used to purchase medical equipment for community services.

The Breast Unit receives many donations from grateful patients and also from legacies, funds are mainly used to purchase equipment for the department. Funds are used mainly used to purchase medical equipment and post op kits.

15. Post balance sheet events

There have been no post balance sheet events that require disclosure.