QEH KING'S LYNN The Queen Elizabeth Hospital King's Lynn Charitable Fund Annual Report and Accounts for the year ended 31 March 2021 Registered Charity Number: 1051327 Contents Page5 Trustees Annual Report Independent Auditor's reportto the members of the Queen Elizabeth Hospital Kings Lynn Charitable Fund Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the accounts- Accounting policies Analysi5 of Total Voluntary Income Analysis of Charitable Expenditure Analysis of Management and Governance Costs Resources Expended Cash Flow Reconciliation of Net Income & Expenditure Movement in Funds Long Term Investments Analysis of Debtors Analysis of Creditors Forthcoming Projects Related Party Transaction5 Auditor Remuneration 12 15 16 17 18 20 21 21 22 22 22 23 23 24 24 24 24 Trustees Annual Report Foreword The Trurtees present the annual report and accounts of the Queen Elizabeth Hospital King's Lynn Charitable Fund for the year ended 31 March 2021. The accounts have been prepared in accordance with the Statement of Recommended Prartice- Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Art 2011 and UK Generally Accepted Prartiee a5 It applie5 from 1 January 2015. The Charity's report and accounts include all the separately established funds for which The Queen Elizabeth H05Pltal NHS Foundation Trust (Corporate Trustee) is the sole beneficiary. The members of The Queen Elizabeth Hospital NHS Foundation Trust Ithe Trurtl Board who served during the f inancial year were as follows.. Professor Steve Barnett Caroline Shaw Laura Skaife-Knight Chris Benham Frankie Swords Carmel O'Brien Ifrom 14-March-21} Dr April Brown (to 13-March-21) Denise Smith Elizabeth Mcmanus (to 31-Aug-20) Chairman Chief Executive Deputy Chief Executive Director of Finance Medical Dirertor Chief Nurse Chief Nurse Chief Operating Officer Chief Nurse Alan Brown David Dickinson Dr lan Mack Graham Ward Dr Claire Fernandez (from 1-July-201 Jacquie Schneider (to 29-Jan-211 Simon Roberts Non-executive Non-executive Non-executive Non-executive Non-execLrtive Non-executive Non-executive The Trustee5 present the Charitable Funds Annual Report together with the Audited Financial Statements for the year ended 31 March 2021. Reference and administrative detai15 of the Charity. its Trustees and Advisors Constitution The Charity was entered on the Central Register of Charities on 8 of December 1995. This is the umbrella Charity under which some 95 individual funds are managed. The note5 to the accounts distinguish the types of funds held and disclose separately all of the material funds. Gifts and donations received by the Charity are accepted. held and admlnlstered as funds held on trust for purposes relating to the health seThSce in accordance with the National Health Service Art 2￿)6 and thè National Health Service and Community Care Art 1990 and these funds are held on trurt by the Corporate Trustee. The Queen Elizabeth Hospital NHS Foundation Trust is the Corporate Trustee of the Charity. Members of the Trust Board (excluding the non-executive directorsl have day-to-day responsibility for the management of the Charity and approve, on behalf of the Corporate Trustee. all expenditure over £5,000. The Trustees appoints fund manager5 who can approve expenditure up to £5,000. Princi al Office Finance Department The Queen Elizabeth Hospital King's Lynn NHS Foundation Trust (QEHI Gayton Road King's Lynn Norfolk PE30 4ET Princi al Professional Advlsers Banker Auditor National Westminster Bank 4 Tuesday Market Place King's Lynn Norfolk PE30 1 LE KPMG LLP {UK) Botanic House 100, Hills Road Cambridge CB2 1AR Investment CCLA Investment Management Ltd COIF Charity Funds 80 Cheapside London EC2V 6DZ Structure. Governance and Management The Charity was established using the Model Declaration of Trust and all funds held on trurt as at the date of registration were either part of this unrestricted fund or registered as separate restricted funds under the main charity. Subsequent donations and gifts received by the Charity that are attributable to the original funds are added to those fund balances within the existing Charity. Where fund5 have been received which have specific restrictions set by the donor, new restrirted funds have been established. The charitable funds available for spending are allocated to specialties within the Trust's directorate management strurture. Therefore, each vwardldepartment may have its own designated restricted or unrestrirted funds within the Charity umbrella. The Trust has four endowment funds in total for which only the income received from its investment can be 5penL there 15 no power to convert the capital into income. Three of the endowment funds are held on deposi( while the Waley Trust is invested with CCLA Investment Management Ltd. Member5 of the Trust Board are the Charitable Funds Committee and are not individual Trustees under Charity law but act as agents on behalf of the Corporate Trustee. The NHS Appointrnent5 Commission appoints the non-executive members of the Trust Board. while the executive Member5 of the Board are appointed by the Trust Board. New members of the Trust Board are invited to read and understand a selection of Charity Commission booklets and are given access to the past reports and accounts minutes and other relevant documentation. In so far as the Trust Board is aware, there 15 no relevant audit information of which the auditor5 are unaware. The Trust Board has taken all the steps that ought to have been taken in order to make themselves aware of any relevant audit information and to establish that the auditor5 are aware of that information. The Corporate Trustee is responsible for the overall management of the charitable funds. It Is required to: Control, manage and monitor the use of the funds resources. Provide support, guidance and encouragement for all its income raising activities whilst managing and monitoring the receipt of all income. Ensure that 'best prartice. is followed in the conduct of all its affairs fulfilling all of its legal responsibilities. Maintain f inancial records, which disclose, at any time, the financial position of the funds held on Trust. applying appropriate accounting policies on a consistent basis. Establish and monitor a system of internal control. Establish arrangements for the prevention and detertion of fraud and corruption. Make judgements and estimates. which are reasonable and prudent. Risk Management The Charity assesses and scores risks against a Set methodology. Risks are reported to the Trust Board via a sub-committee along with mitigations and actions. The Trustees use the Framework contained in the Charity Commission publication 'Charities and Risk Management, to identify potential sources of risk. The Charity Trustees have given consideration to the major risks to which the Charity is exposed and have satisfied themselves that Syrtems and procedure5 are established in order to manage those risks. Internal audit provide assurance over the internal controls, transactions and processes and report their findings to the Trustee5. Objectives and Artivitie5 e ob"ective '.The Charitable fund has NHS wide objectives as follows The Charity aims to fully sUPPOrt the Trust to achieve a high quality of patient care, welfare and to support its staff. Enable more patients to be treated more effectively. efficiently and quickly. The Queen Elizabeth Hospital King's Lynn Charitable Fund (The Trust) is a valuable source of income and support to the hospital. "The Tnistees shall hold the Trust fund upon trust to apply the income and at their diSC￿tion. so far as may be'y permiTssible. the capital. ft*r any charitable purpose or purposes relating to the National Health Seryice. Partnershl workin andn orks The Trust is the sole beneficiary of the Charity and is a related party by virtue of being Corporate Trustee of the Charity. working in partnership with the TrusL the charitable funds are used to best effect and so when deciding upon the most beneficial way to Use Charitable funds, the Corporate Trustee has regard to the main artivities, objectives and plans of the Trust. The Corporate Trustee fulf 115 its legal duty by ensuring that funds are spent in accordance with the objerts of each fund and by designating funds. The Corporate Trustee respects the wishes of OUT generous donors to benef St patient care and advance the good health and welfare of patients, carers and stsff. The Charity's aim is to enable more patients to be treated more qulckly. effectively and more efficiently. The Charity achieves this aim by raising fund5 that are then utili5ed to improve services and existing facilities provided at the Queen Elizabeth Hospital in The Charity remains indebted to the work of our volunteers who support the hospital each year. and to the League of Friends for their support. Our Activi During the year. the Charity continued to support a wide range of charitsble and health related activities benefiting both patient5 and staff. In general terms, the funds are used to purchase the varied additional goods and services that the NHS is unable to provide. The Ward charitable fund receives donations given to thank the nursing staff. These are used for charitable artivitie5 that will benefit staff, which in turn will benefit the patient care and 5UPPOrt provided. These donations enable staff to attend courses that are not funded by the Trust. The General Fund receive5 donations and legacie5 that can be used for any charitsble purpose relating to the Trust. For further details of the public benefit derived from the Charitable Fund's activities please see the overview of its achievements, performance and financial position sertion below. Public Benefit The Charity confirms that the Corporate Trustees have complied with iheir duty to have due regard to the guidance on public benef it published by the Charity Commission in exercising their powers or duties. Throughout this repor( the Charity has demonstrated that it acts for the public benefit. ReseNes lic The Charlty has established a policy whereby unrestricted funds held as cash, not committed or invested should cover all foreseen and planned expenditure based on the normal level of activity. Funds retained in exce55 of this may be invested in accordance with the Investment Policy (see below). The majority of the funds are designated for use within specific wards and departments within the Trurt either for patients, staff or equipment: this is to enable funds, a5 far as possible. to be spent in line with donor's wishes. The funds support the hospital in a variety of ways, further information regarding future planned expenditure can be found below. nt Polic The Trust has an Investment Policy, with an aim to give clear guidelines to the Trustees in managing the funds of the Charity and to ensure proper and timely review and monitoring of investment performance. The Trustees will= Ensure working capital requirements are met by a reasonable cash balance in an instant access bank account. Invest funds in a way which will both preserve their capital value and produce a return consistent with prudent investment. Not place the funds at risk by speculative investment. Invert money in common investment funds. split between equity and non-equity. Not invest funds in a particular company if it carries out activities which are directly contrary to the Charity's purpose and therefore. against its intere5t5 and those of the beneficiaries. Seek expert advice from qualified investment managers as necessary. Review and monitor performance. Overview of achievement5. performance and financial position The net assets of the Charity for the year 2020-2021 were £3.29 million12019-20 £3.58ml, a decrease of 9%. This is as a result of total incoming resources for the year decreasing to £756.00012019-20 £2,297,000), primarily as a result of the Covid-19 pandemic. Total expenditure increased from £553,000 in 2019120 to £1.241.000 in 2020121. This is mainly due to thè spend committed for the construction of the Wellbeing Centre and the Maternity bereavement suite. The Charity has four endowments amounting to £45,000- the value of these will not change unless further endowrnent5 are received. The income derived from the endowment capital funds are credited to their re5pertive expendable funds, all four are restrirted. During the year there was a gain of £198,000 in the market value of the invertments held with CCLA Investment Management Limited. The number of charitable fund5 held under the Queen Elizabeth Hospital Kings Lynn Charitable Fund umbrella has decreased in the current financial year to 9512020- 101). The tharitable work was made up of the following five progiamme areas.. É600.0(M) £300.￿0 É200,C¥)O £1(4J,CA £0 Medical Equipment Nèw Building and Reftjrblshment Patient Welfare staff Welfare othpr E¥penditure 2020/21 Unrestrirted Expenditure 2020121 Restricted Expendit￿re 2019120foial Expenditure In the financial year the Charity has spent a totsl of E121.000 on medical and surgical equipment. Items purchased include.. Optical coherence tomography (Ocn machine- £57,000 8revera biopsy System for the breast unit - £40,000 Bililux with radiometer for the neo-natal ICU £5,000 Clement Clarke portable slit lamp for Ophthalmology unlt- £5,000 Alrway Management Trainer kit for resuscitation training - f 5,000 During the year a total of £721,000 was committed to spend on new building projects and refurbishments aiming to provide more comfortable surroundings for patients and staff. From these, £603,000 has been committed to the new Cancer Wellbeing & Support Centre and £58,000 has been committed to the Maternty Bereavement Suite. The charity has fundéd the re-development work on a new Cancer Wellbeing and Support Centre during the year which was completed in May 2021. This will enable the Trust to expand non-clinical cancer services. in conjunction with Macmillan Support and Information Services, and strengthen SUPPQrt for patients and their families following a cancer diagnosis. A further £250,000 of charitable fund5 has been used to support nursing staff during the Covid-19 pandemifj and staff welfare and engagement activities. Covid grants Our Covid-19 recovery grants from NHS Charities Together continue to SUPPOrt the recovery and mental health of NHS staff throughout the Queen Elizabeth H05Pltal Kings Lynn NHS Foundation Trust. £108.000 has been spent on additional clinical psychologist services to support our staff mental health and wellbeing. During the year four separate grants were received from this organisation totalling £158,600. First grant £56.500 - was transferred to the Trust to cover the salary of a clinical psycholog15t on full-time post for 12-months on a f ixed-term contra(t. The Highly Specialist Clinical Psychologist joined the Trust on 8 September 2020. Second grant - £50,000 for a cognitive behavioural therapist working on a 12 month tixed-term contract to deal with post-traumatic stress disorder. Third grant. £2.100 was received in association with Starbucks to fund ten leisure memberships for staff members. . Fourth gran¢ £50.000 - To Improve patient experience through the purchase of laptops, tablets, and other IT devices for wards and dementia clo(ks. A further source of Covid related income came from the community who artively fundraised, organised virtual event5. set up their own JustGiving fundraising pages. The Trust also received donations via its own COVID-19 JustGiving campaign page as well as cheques, BACS payments, etc. Moreover. the supportive local community, members of the public and busine55es rallied round and gave numerous donations in kind, e.g. free meals. food supply. offer of free accommodation. etc. £44,000 of fund5 have been utilised in supporting and improving patient welfare. This has been used on purchasing wheelchairs, specialist falls prevention and management equipment, patient engagement projerts, and Chrirtmas presents for patients. The chart below show5 our main sources of income this year and last year. Our largest Source of income continues to be gifts and donations from the public, either direct or through corporate giving. £300,000 £250,000 £200.IKIO £150,000 £wo.000 202￿2021 f 50,CK)O 201￿2020 £0 As well as maklng monetary donations, the communlty also continues to SUPPOrt the hospital by purchasing gifts via the Amazon WSsh Llst. We ran a pilot scheme with one of our wards: Rudham Children's ward Amazon Wish List The Amazon Wishlist started running in December 2020 and 15 proving to be very successful. We have received hundreds of gift5 f rom patients, parents. staff. the general public and local companies, ranging f rom small toys, colouring books and crayons through to a shop, multi- sensory toys and TV. A number of parents commented that they had previously wanted to donate to the Ward but hadn't been able to as they felt they couldn't afford to. They thought the Amazon Wishlist was an ideal way for them to say thank you, as they could spend as little as £2.00 and contribute to a gift in the knowledge that they were buying something the Ward really needed. We even had some young patients wanting to buy something with their pocket money. The generosity and kindness shown has been overwhelming at times for the Ward staff and we all as a team, would like to thank everybody who so kindly donated. We will look at the possibility of extending the scherne to other wards according to demand. Our future plans As with all the Charitable funds expenditure the aim is to help improve the care and experience for hospital patients, whether this is through investing in the training and welfare of staff, funding refurbishment projects or purchasing equipment. This work will continue throughout 2021122 with our plans to purchase further items of equipment to benefit patients and continuing our support to staff to further their education, enabling thern to introduce and perform new techniques in patient care. The Maternity 8ereavement Suite Appeal was chosèn as The Lynn News Charity of the Year. The fundraising target is £185,000 and we continue to work towards thi5 objective. The scheme is to create a dedicated area for families f rom our community who tragically10se their babies either during or shortly after birth. The Maternity Bereavement Suite will provide a welcoming facility for patients and families. away from the Waterlily Birth Centre and maternity department. It will give them the opportunity to create precious memories. Having suite in a homely environment will make a positive difference to the experience of parents who are going through their most difficult time after their loss. The proposed layout for the Suite and the completion of the project will give patients and their families a private space to spend precious time with their baby. In order to generate enough room for the scheme. the new area will be created by reconf iguring some of the maternity footprint. There will be a bedroom area, nursery space, rest area with refreshment facilltles and an en-suite shower room. The Staff engagement scheme was introduced at the QEH during the year. Further plans in the following year will see us working with a new Staff App providing staff with a closed and secure platform to talk to each other and share information when they want to. It will offer a key digital channel for the staff to communicate instantly through chat and news feed feature5. increasing opportunities for engagement and fostering a closer working environment where we can work together to provide the best care for our patients using a system and information that supports people, processes. timely communication and learning. This App 15 great way to empower and engage stsff whilst also improving communication, workplace satisfaction and build With funding from NHS Charities Together the Trust wants to provide tools to assist patients to maintain contact with their families and friends. This is essential for the wellbeing of patients and their farnilies. This proposal will reach out to many inpatients to support them to communicate with their family and friends whi15t vistting is restricted due to the COVID-19 pandemic. When visiting is re-introduced thi5 equipment will be useful to support virtual visiting for patients with relative5 not able to come into the hospital either due to location {they live a long way away) or choice Ithey may be anxious, immunosuppressed or not able to come in due to other family commitments). The purchase of such equipment will enhance the experience of our patients in the Trust both inpatients Itablets to undertake virtual visitirbg arbd time Iday and date clocks) and outpatients Itablets to support the hard of hearing to understand staff when they come to the front entrance through the use of voice to text appl. Statement of Trustees responsibilitie5 in respect of the Trustees annual report and the financial statements Under the trust deed of the charity and charity law, the trustees are responsible for preparing a Trustees, Annual Report and the financial statements in accordance with appliiable law and regulations. The trustees are required to prepare the financial rtatements in accordance with UK Accounting Stsndards, 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 resource5 and application of resources for that period. In preparing these financial Statements. generally accepted accounting practice entai15 that the trustees.. select suitable accounting policies and then apply them consistently.. make judgements and estimates that are reasonable and prudenL' state whether applicable UK Accounting Standards and the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements; state whether the financial statements comply with the trust deed. subject to any materlal departures disclosed and explained in the financial statements,. assess the charlty's ability to continue as a going concern. disclosing, as applicable, matters related to going concern.. and use 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. The trustees are required to act in accordance with the trust deed land the rulesl of the charity, within the framework of trust law. They are responsible for keeping accounting records which are sufficient to Show and explain the charity's transactions and di5c105e at any time. with reasonable accuracy. the financial position of the charity at that time. and to enable the trustees to ensure that where any ststements of accounts are prepared by them under section 13211} of the Charities io Art 2011, those statements of accounts comply with the requirements of regulations under that provision. They are responsible for such internal control a5 they determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the financial and other information included on the charity's website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdi(tions. Golng concern The Trustees of the Charity have reviewed its financial position. taking into account the longer-term projertions made by its managemenL current levels of reserves and cash (including short-term inve5tment5), and concluded that the Charity ha5 sufficient acces5 to resources to remain in operation for at least the next 12 months from the date of this report. The Trustees of The Charity therefore consider it is appropriate to continue to adopt the going concern basi5 of accounting in preparing the annual financial statements. Disclosure of Infomiation to auditor The Otticers of the Trustee who held offlce at the date of approval of this Trustees report confirm thaL so far as they are each aware, there is no relevant audit information of which the Charitable Fund's auditor is unaware.. and each officer has taken all the steps that he ought to have taken as an Officer of the Trustee to make himself aware of any relevant audit information and to establish that the Charitable Fund's auditor is aware of that information. A final thank-you On behalf of the staff, carers and patients who have benefited from improved seNices due to donations and legacie5. the Corporate Trustee would like to thank all patients, relatives, staff and various organisation5 that have made charitsble donations during the year. Approved by the Corporate Trustee. Signed: Date: 2 November 2021 Professor Steve Barnett li Independent #uditor's report to the Trustee5 of The Queen EIiT2beth Hospitsl King's Lynn Ch2rit#ble Fund OpiDlon We have audited the financial statements of The Queen EIi7Ab¢th Hospital King's Lynn Charitable Fund {'the Charity") for the year ended 31 March 202 Iwhich cotnprise the Statement of Financial Activities, Balance Sheet, Statetnenl of Cash Flows and related notes. including the accounting policies in note In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources for the year then ended- have been properly prepared in accordance with UK accounting standards, including FRS 102 The Financlal Reporting St8ndard applicable in th8 UK and Republ￿ of Ireland,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinlon We have be¢n appointed a5 auditor under section 144 of the Charities Aet 2011 (or its prede¢essors) and report in accord2n¢e with regulations made under se¢kn"on 154 of that Act. We conducted our audit io a¢cordance with International Standards on Audititlg (UK} {"ISAs {UKI") and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the charity in accordance wsth, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we hav¢ obtained is a sufficient and appropriate basis for our opinitsn. Going eoncern The truste¢5 have prepar¢d the financial statements on the goinB ¢oncem basis as they do not intend to liquidate the charity or to cease its operations. and a5 they have concluded that the charity's fjnancial position means that this is r¢alLStic. They have also concluded that there a￿ no material uncertainties that could have ¢as¢ significant doubt ovcr irs ability io ¢onlinue as a going con¢em for at leasi a year from the date of approval of the rtnartcial statements {'Ihe going Concern perto(r'). In our evaluation of the trustees, ¢onclusions, we corLsidered the inherent risks to the charity'5 bu5ine5s model and onalysed how those risks might affect the chaTLty's flnancial r¢sour¢es or ability to continue operations over the going conc¢m period. Our ￿nCluSiOnS based on this work: we consider that the trnst¢¢s' use of the going concern basis of ￿coUnting in the preparation of the financial st*ernents is appropriate,. we have not identified. and concur with the trustees, assessment that there is noL a material uncertainty related to events or conditions thai, individually or collectively, may cast significant doubl otl the charity's abilLry to continue as a going con¢em for the going concern period. However, 2$ w¢ ¢annot predict all future events or conditions and as subsequent events may resul( in ouicomes that are iThconsistent wilh judgern￿ts that were reasonable at the time they were made, the above conclusions are not a guarantee thai the charity will continue in operation. FrAud brellches of IAWS #nd regul¥tlons- ability to dett¢l Idénitfying andrejpo￿dl￿g io risk¥ ofmaterEalmisslaleMeM due fofraud To identify risks of material misstatement due to fraud {"fraud risks"), we as5es5ed events or conditions that could indicate an itJ¢entive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures inGluded.. Enquiring of management and inspection of documentation as to the entity'5 high-level polici¢s and pmc¢dures to prev¢tit and detect fraud. ReadKng Board meeting minu*s. UsEttg analyti¢al procedure5 to identify any utjusual or uThexpected relationships. 12 We communicated identifi¢d fraud risks throughout the audit team and r¢main¢d alert to any indications of fraud throughout the audiL As required by auditin8 standards, we perform pro¢¢dures to address the rÉsk of management ove￿Ide of controls and the risk of fraudulent revenue Te¢ognition. However, due to the nature ofthe income received by th¢ ¢harity we have rebutted the fraud risk in relation to revenue recognition. Within the Charities sector, auditors also consider the risk that material misstatements due lo fraudul¢nt financial reporting may arise from the manipulation of expenditure recognition and Ih¢r¢fore an additional risk has be¢n identified in relation to this. Due to the natur¢ of the expenditure re¢ognised by the Charity, this risk has been limited to expenses which do not relate to ITansfeTS to the The Queen Elizabeth Hospital King's Lynn NHS Foundation Trust. W¢ p¢rfomhed procedure5 iThcludin8'. Identifying joumal entries to test based on risk critcria and comparin8 the id¢ntifi¢d ¢ntries to supp)rting docwnentstion. These included those posted to unusual accounts combittatiot)s', Agreeing a sample of expense transactions ba¢k to r¢l¢vant invoices and supporting documentatLOn. Idehiifying andresponding Éo rlsks ofmaieriol mi$5talemeni dNe Io non-compliance wiih Imvs apjdre8ulali0￿S We identified areas of laws and regulations that could reasonably be expected to have a mat¢rial ¢ffe¢t on th¢ fjnancial Statements from our general commercial and sector experi¢n¢¢ and through discussion with the Trustees and other management la5 required by auditin8 5tandardsl. We discussed with the Trnstees and other managetnent the poli¢ies and procedures regarding compliance with laws and regulations. W¢ commutsi¢ated ]d￿tified law5 and regulations throughout our t¢atn and remained alert to any indic&tion5 of non- ¢ompliance throughout the audit. The potential effect of th¢s¢ laws and regulations on the fJn8ncial statements varie5 considerably. Firstly, die Charity ts subje¢t to laws atld r¢gulation5 that directly affect the flnancial statements including financial reporting legislation {including the Charitie5 SORPI and taxation legislation atld we assessed the extetlt of compliance with th¢5e law5 and regulations as part of our pro¢edures on the related fin&ncial stat¢]nent item5. Secondly. the Group 15 subject to many other laws and regulations where th¢ con5equenccs of notLpenditure} to net cash flowfrom operating actiwities 2020-2021 2019-2020 £'ooo £'o Total Donations & Income Total Resources Expended Net operatiny e>penditure 709 11,2411 (5321 2.249 15531 1.696 Ilncreaseydecrease In debtors IDecreasÈllincrea5e in credttor5 Net cash provided by (used in) operating actimties 236 688 392 1489) 14 1.221 6.2: Analy515 of cash at bank and in hand less 0￿rdraftS 2020-2021 2019-2020 £'ooo £'ooo Cash at bank and in hand Overdrafts included in bank loans and overdrafts fallin Total Cash at bank and in hand 1.981 1542 due 1981 1542 Note 7: Movement in funds The Cancer Care and Treatment Fund, Breast Care Fund. Diabete5 Fund. Rudham Ward Equipment Fund, Palliative Care Nurse Support Fund, and the Kidney Fund are material designated funds for use in their own areas. The General Fund is used for any charitable purpose at the discretion of the Trustees. QEH Medical I Surgical fund - This includes donations I legacies for general use within the hospital to purchase any equipment whether medlcal or surgical. The QEH Medical Dirertorate's fund and Other Acute funds IOthers1 include the remaining designated funds from each dirertorate. 22 Note 8: Long Term Investments - Analy515 of COIF naly5i5 of COIF Value 2020-2021 2019-2020 GainlLoss £'ooo 'ooo £'O(KJ Queen Elizabeth Hospital King's Lynn Charrtable Fund Ilncome Units) Queen Elizabeth Hospital King's Lynn Charttable Fund Ilncome Unit51 Queen Elizabeth Hospital King's Lynn Chariiable Fund Accumulation Units Total: 38 83 69 14 222 178 351 285 66 alysi5 of COIF Charities Investments 2020-2021 2019-2020 GalnlLoss £'OOD £'ooo £'ooo COIF Charltles Fixed Interest Fund Ilncome Unrts) COIF Charfcies Investment Fund Ilncome Units) 564 572 {81 817 677 140 COIF Investment Total: 1.381 1.249 132 Grand Total 1,732 1,534 198 COIF.. Charities Official Investment Fund Note 8.1: Investments - Analysis of gross income from investments 2019-2020 £'ooo 2019-2020 £'o Interest on cash held on deposfc account {NatrNest} and CCLA Investments in a Common Investment Fund fixed asset investment) Total 46 47 48 Note 9: Analysis o* debtors (Under 1 year) 202￿2021 Unrestricted Restricted Funds Funds £'ooo £'ooo 2019.2020 Total Funds £'ooo Total Funds £'ooo Accrued income (Grft Aid) Other Debtors {Legacies} Total Debtors for the Yoar 17 17 23 316 316 546 333 333 569 Note 10: Analysi5 of Creditors: amounts falling due within one year 202(k2021 £'ooo 2019-2020 £￿00 Other Credrtors as at 3110312020 Amount due to Related Party Cancer Relief Prov￿10￿ Total Creditor5 for the Year 23 724 16 750 Note 11: Forthcoming Projects The Charity has a number of projects that it is intending to support In 2027r22. The forecast expenditure on these projects 15 £749.000. This has not been recognised as expenditure in the financial rtatements as the Charity has not entered into a contractual commitment for these projects. Note 12: Related Party Transactions During the year none of the Trust Board or members of the key management staff or parties related to them has undertaken any material transactions with The Queen Elizabeth Hospital King's Lynn Charitable Fund. Board members land other senior staffl take decisions both on Charity and Exchequer matters, but endeavour to keep the interests of each separate and do not seek to benefit personally from such decisions. Declaration5 of personal interest have been made in both capacities and are available to be inspected by the public. The Charitable Trust has made revenue and capital payments amourhting to £876,000 to the Trust, where the board rnembers also act as the Corporate Trustee of the Charitable Fund. At 31 March 2021 the Charity owed the Trurt £724,00012020 £16.0001 The Financial Statements of the Trust are included in its annual report. Note 13: Audltor Remuneration The external auditors remuneration for the current year is £7.800 12020 £5,820). This relates solely to the audit with no other additional work undertaken and is included in the accounts within Management l Governance Costs. 24