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2024-03-31-accounts

• 01 • Torbay+ Sovth Devon N14S Chacitv Annual Report 2023-24

Welcome

I am very proud to welcome you to our Annual Report for 2023/24. We are Torbay and South Devon NHS Charity (the working name for Torbay and South Devon NHS Charitable Fund). Thanks to the generosity of our fundraisers and supporters we have been able to support a bigger number of projects than ever before and help to make things better for people who use our services, their loved ones and our colleagues.

This has been another tough year for many people in our communities with the aftereffects of the COVID-19 pandemic impacting on people’s health and wellbeing and cost of living crisis continuing to affect us all. This makes the work that our charity is doing even more important and makes us more grateful than ever to those who continue to support us during these difficult times.

Our Torbay and South Devon NHS Charity aims to support the full range of services offered by Torbay and South Devon NHS Foundation Trust – adult social care, community services and hospital-based services while working with other charities who also support health and wellbeing locally and the eight dedicated Leagues of Friends who support services based in specific locations in our footprint (Ashburton, Brixham, Dawlish, Newton Abbot, Paignton, Torbay, Totnes and Teignmouth). We are proud to work alongside them to benefit and support our people and communities.

This year we have seen a significant rise in the number of people fundraising for us, particularly our NHS colleagues, and we were delighted to recognise their exceptional efforts through our new Charity Champion Award. The award was presented in May to Jane Read (Special Care Baby Unit), Gill Walach (Templar Ward, Newton Abbot Hospital) and Cheryl MacKinnon (Torbay Young Adult Carers) who, between them had raised more than £20,000 in the past year on top of their busy day jobs. Our team has worked hard to ensure value for money with every pound spent, to help make the most positive impact we can for those who need our help and support.

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During the year we approved our fundraising strategy which sets out our mission to work with Torbay and South Devon NHS Foundation Trust to make a positive impact on the health and wellbeing of people who use our services and our dedicated, talented and amazing people. By investing in innovative healthcare initiatives and promoting the wellbeing of our people, we strive to create an inclusive culture that benefits all those who come into contact with our charity. Our intent is to ensure equity of opportunity for all our health and social care services to benefit from our charity.

I hope you enjoy reading about how we have supported people and projects locally, how we have worked with local businesses and partner organisations to make things better and how we have spent the money that people have so kindly trusted us to use wisely.

I would like to take this opportunity to thank all our fundraisers, supporters, sponsors and donors as well as those who leave gifts in their Wills. You have helped to make things better in a very real and tangible way.

Thank you also to my dedicated colleagues at Torbay and South Devon NHS Foundation Trust for helping with important decision-making on how we spend our charity income, supporting us through staff fundraising and in working together with us to make things better for everyone.

Siân Walker-McAllister Chair of Charity Committee

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A word from Torbay and South Devon NHS Foundation Trust

Our Torbay and South Devon NHS Charity is integral to the success of Torbay and South Devon NHS Foundation Trust by providing enhanced services over and above what the NHS funds. Funding from our charity makes a huge difference to the care and treatment our services can offer to our people and communities.

We are proud pioneers in integrating health and social care nationally and were the first NHS trust in England to integrate hospital and community care with social care. We passionately believe that the best way to care for people is by focusing on what matters to them, putting them at the centre of everything they do and integrating services around them. We believe that care as close to home as possible benefits everyone. We have a proven track-record of innovation both in terms of our integrated care services and with some of our specialist clinical services, for example day surgery, being nationally recognised for their best practice.

The COVID-19 pandemic has shown us just how much our NHS is loved and valued – both locally and nationally – but it has also shone a stark light on the health inequalities in our communities and the challenges facing our people and services. Thanks to investment through NHS Charities Together we have been able to take some important steps to making much more impact through our charity.

Your support as we grow and develop our charity has meant the world to us and is allowing us to give our people a better experience, better outcomes and better environments. Thank you so much for your interest in our charity and in helping to make things better for everyone in Torbay and South Devon.

Liz Davenport Chief Executive

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Welcome to Torbay and South Devon NHS Charity’s Annual Report 2023/24

Our Torbay and South Devon NHS Charity is here to provide better care for people in Torbay and South Devon from birth to the end of life and everything in-between.

By supporting our charity you are helping to make things better and thanks to supporters like you we gave over £384,000 in 2023/24 to improve people’s experience and their environment, to provide specialist equipment, to support the wellbeing of all and to reduce health inequalities.

We are delighted to be able to share with you some of the projects and improvements your donations and support have helped us to fund during the year and the positive impact they have made.

Helping to make things better - our impact report

Our vision is to provide better care for you, your family and neighbours, from birth to the end of life and everything inbetween. By supporting us, you are helping to make things better for people in Torbay and South Devon.

Our fundraising mission is to work with Torbay and South Devon NHS Foundation Trust to make a positive impact on the health and wellbeing of people who use our services and our dedicated, talented and amazing people. By investing in innovative healthcare initiatives and promoting the wellbeing of all, we strive to create an inclusive culture that benefits all those who come into contact with our charity. Our intent is to ensure equity of opportunity for all our health and social care services to benefit from our charity.

Our NHS values drive us to support excellent care every day, ensuring that the needs of our people and our communities are cared for both now and in the future.

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How you helped

Thank you is just two small words that often don’t seem enough to recognise the time, energy, kindness, commitment and care that you show our charity.

Without you, we simply couldn’t do what we do. Any success we have is due to your support. And we couldn’t be more grateful.

Here’s a few examples of the lengths you went to this year to fundraise for us.

I love my job and I'm keen to help in any way I can. This is why I have decided to run a half marathon with all monies raised to go towards the childrens ward

Natalie, Louisa Cary Ward

How you helped

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£593,000 £214,000 £115,000
donated by in grants from
raised to help
people who charitable trusts
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their wills
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community people ran, years old
events cycled or walked
from footgolf to our youngest
tea parties, from 2,294 fundraiser, Caleb
Elvis nights to miles. Almost as climbed Ben
boogie nights far as Torquay to Nevis
Timbuktu!
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How you helped

£20,000

raised by our three staff Charity Champion award winners between them

15,000 feet

the height Mia and Marco skydived from

15,000 plants

gifted to offices and non-clinical areas through our green plant project

180 of our people

who attended our annual celebration event, boosting morale

60 people

supported to have earlier endoscopy scans

Just wanted to say a massive thanks for hosting us last night! We all had a really good time and it was amazing to see all the people get their well earnt awards

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How you can get involved

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What we have achieved

Voluntary income

----- Start of picture text -----
Grants
19.4%
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Donations: £264,000 Grants: £115,000 Legacies Legacies: £214,000 36.1%

Grant expenditure

Donations 44.5%

Capital equipment: £66,000 Patient care projects: £259,000 Staff training and development: £18,000 Staff welfare: £41,000

Staff welfare 10.7%

Staffing training and development 4.7%

Capital equipment 17.2%

Patient care projects 67.4% 11

Reducing health inequalities

Supporting our services to provide equal healthcare opportunities for all

Earlier endoscopy scans

60 local people waiting for diagnostic tests, which may potentially indicate gastro-intestinal cancer had a reduced waiting time and faster diagnosis thanks to a very generous donation from Lord Julian and Lady Jan Darling.

For people undergoing medical investigations such as diagnostic endoscopy, a faster diagnosis leads to quicker treatment. This makes a significant difference to outcomes.

Lord and Lady Darling were inspired to give to their local NHS after seeing singer Rod Stewart generously fund MRI scans in an effort to reduce down waiting times. Their donation was enough to fund two full days of running the endoscopy unit.

We were so impressed with the same day treatment we received at Torbay Hospital . and inspired by a press article about Rod Stewart’s pledge to fund a day’s worth of scans at his local Essex hospital, we felt compelled to match his offer at Torbay

Giving the gift of time

There are hundreds of young adult carers in Torbay and South Devon. Being a young adult carer can affect a young person’s health, social life and self confidence with many struggling to manage their education, working life and caring role which can cause pressure and stress. In September we were able to offer six young adult carers the opportunity to take part in a once-in-alifetime opportunity of a week’s sailing adventure from Portsmouth to Plymouth on board an iconic 72ft Challenge racing yacht thanks to the generosity of Torquay Rotary.

While the Torbay young adult carers service is funded to support young people aged 16-25 with caring responsibilities by Torbay and Sou th Devon NHS Foundation Trust, their activities which give young adult carers a break, time with other young carers and a chance to build vital resilience, confidence and skills, are only possible thanks to donations and funds raised.

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The events have given me time to myself which I find hard to do between caring and working. It has also taught me valuable skills to take away and use, skills like organising, trust, improving my social skills and confidence. I am part of the operational group as well which allows me to voice opinions and take part in fundraising events and this helps build my confidence and experience. I mostly use the drop-in service to have two hours to relax, play games and make friends. Some events I have gone to is the shopping trip to Bristol, Christmas dinner and sailing. I go to these events to have fun and try new things with people I trust.

Going above and beyond to provide the best care

Local podiatrists are now able to improve and enhance the care they offer thanks to three new dermatascopes.

Sarah, Ruth and Amanda, three of our dedicated podiatry team undertook the Inflatable 5k to fund the new equipment over and above that which is usually available to podiatrists in the NHS.

The new Dermatoscopes will help to improve and enhance the care that we can offer to patients by enabling more accurate identification of moles on feet, lower legs and possibly elsewhere on the body, that could need further investigation. The Dermatoscopes will also help to increase the scope of our practice as we will be able to identify lesions more easily and therefore flag the need for a referral to dermatology colleagues at a much earlier stage.”

Improving people’s experience and their environment

More people than ever are living with and beyond cancer. Receiving care that is tailored to a person’s needs can have a significant impact on their experience and quality of life.

We’re here to help people live well whatever their diagnosis or prognosis. Lo

We gave £4,100 for a project which is supporting people in recovery from breast cancer through yoga, meditation and art.

These free weekly sessions offer a welcoming and supportive environment in which people can learn new skills, gain new experiences and develop techniques to relax and find peace of mind.

Adrenaline got me through surgery and radiotherapy last year but now my emotions are catching up with me. Without the group, I would just be left to get on with life and deal with my emotions. Here I can network with other women in the same boat doing something really creative and positive, helping to deflect negative emotions

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Improving people’s experience and their environment

Losing hair through chemotherapy can be distressing for people already under strain from dealing with a cancer diagnosis and treatment. Thanks to the dedicated fundraisers and supporters of Ricky Grant Day Unit we are now able to offer Paxman scalp cooling units which make a significant positive difference to people’s wellbeing.

Two machines were purchased during the year and each costs £10,000 with further costs for maintenance and training – all of which has been funded by donors who were invited to a special thank you cream tea to recognise their efforts.

The Paxman units work by reducing the temperature of the scalp by a few degrees immediately before, during and after the administration of chemotherapy. This in turn reduces blood flow to hair follicles, which can prevent or minimise hair loss.The new scalp coolers replace the unit’s current scalp cooling machine which is over ten years old, and offers significantly improved technology.

The amazing NHS staff at Ricky Grant Day Unit and the oncology unit saved my life – but the Paxman’s cold cap machine saved my hair. Being able to still see myself with hair in the mirror, for me was the most incredible psychological boost.

As well as benefiting from the new scalp coolers, people are now receiving chemotherapy treatment in greater comfort as seven specialist chemotherapy armchairs have been funded for Ricky Grant Day Unit and Turner Ward as well as five chairs for the quiet rooms and day rooms

The 12 chairs, bought at a cost of £16,000 replaced old chairs which were far less comfortable. People receiving chemotherapy can sit for up to nine hours at a time up to three times a week meaning that a comfortable chair really does matter.

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Improving people’s experiences and their environment

Torbay and South Devon goes green

Thanks to the inspiration and commitment of nurse, Nina Henton-Waller, staff and visitors at Torbay Hospital and several community sites have gone green with over 1,500 plants distributed to offices and non-clinical spaces.

Not only are the plants improving the physical spaces and environment they are also improving people’s wellbeing and mental health. Nina’s green plant project was funded thanks to a grant from NHS Charities Together.

It was such a privilege to stand there and give plants to people, because they were just so, so happy

More staff are now able to spend their breaks outside (weather permitting) as monies from NHS Charities Together grants have been used to install outdoor furniture in ten locations across Torbay and South Devon’s NHS sites. Access to fresh air, sunlight and time to recharge is invaluable in helping people to care for others while indoor planting schemes in Newton Abbot Hospital and at the Acute Medical Unit in Torbay Hospital are bringing the outside inside.

Meanwhile insect towers, bat boxes and minibeast houses have been funded to improve biodiversity across a number of sites and are tempting staff, patients and visitors outside to enjoy the environment.

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Improving people’s experiences and their environment

Art for all

Artist in residence, Helen Snell, has brought her expertise to bear on a number of projects which are aimed to support recovery and wellbeing. Funded by a grant from NHS Charities Together Helen’s work has included artists and clinicians working together to improve the patient environment.

Many people who are admitted to Simpson ward at Torbay Hospital spend the majority of their time in bed and are unable to sit up due to their health conditions. Beautiful ceiling tiles have been installed in the side rooms which take details from larger art works which have been placed in the wellbeing room on the ward. This has made a huge difference to patients, particularly those who are unable to sit up in bed.

Creations by local artists have been included in new building projects including the award-winning state-ofthe-art Dartmouth health and wellbeing centre and the new acute medical unit at Torbay Hospital, enhancing the physical environment and establishing a legacy of art that will benefit everyone who visits the buildings for many years to come.

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Supporting our people - caring for our staff

Boosting wellbeing

We know that NHS staff in Torbay and South Devon work extremely hard every single day of the year and often go above and beyond for the people they care for and their families.

We know that the better we support our NHS staff, the better the care they provide is for everyone.

It was AMAZING! I felt calm, connected, valued - a human rather than employee. I often work on my own and don’t get to see the team very often so it was great to get to spend some time with the team, getting to know everyone better and feeling part of the team.

Thanks to grants from NHS Charities together 45 teams were able to apply for wellbeing grants of up to £500 to support team building and bonding, relaxation and a little bit of fun.

For some teams this was the first time in recent years that they had been able to come together face to face and recharge.

As the service manager this was priceless for me. To have a team that feel as one, sharing this special experience will bond the team. It will support their wellbeing, reduce sickness and simply have a happy team that stay with us.

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Supporting our people - caring for our staff

Improving facilities

We often hear the phrase ‘fit your own oxygen mask first’ to describe how important self-care is when caring for others.

Thanks to grants from NHS Charities Together we have been able to improve staff kitchens on Louisa Cary ward, the delivery suite, Midgeley and New Forrest wards as well as at St Edmunds community care centre benefiting more than 350 of our people, encouraging them to take regular breaks, stay hydrated and prepare food in comfort.

Developing our leaders

Thanks to a project funded by £8,000 from NHS Charities Together, 120 leaders from clinical, operational and corporate NHS services benefited from workshops which provided a space to develop their reflective practice and how to create a culture at work where everyone feels that they belong and can contribute.

Creating a great place to work not only benefits our dedicated, talented, caring people but also positively impacts patient care, experience and outcomes.

Celebrating our people

Thanks to the generosity of our corporate sponsors Torbay and South Devon NHS was able to hold their first in person our people celebration event since the pandemic.

More than 180 NHS award winners came together for a night to remember (and a classic disco) so that we could recognise and reward them for their dedication and commitment, care and compassion and for their innovation and achievements.

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Fundraising and working within our communities

None of the important and impactful projects we fund across Torbay and South Devon would be possible without the generous support of our fundraisers and donors.

We would like to take this opportunity to thank all the individuals, families, local businesses, community groups and other organisations who have supported our Torbay and South Devon NHS Charity throughout the year.

We’ve highlighted just a few below but we are grateful for every single person who has supported our charity this year.

Charlie Zaple

Together with her family and friends, Charlie held a ‘bash for Ben’ in memory of her late brother.

This year they raised £1,000 for the Emergency Department at Torbay Hospital.

Spirent

Local firm Spirent raised £834 to support young people on Louisa Cary ward through a range of activities include a car wash, bake sale and pool competition. The ward is planning a new sensory space for children and young people.

Dunelm Torquay

Dunelm Torquay chose us as one of their Delivering Joy partners for a second year. We were delighted to receive 187 bags of gifts, full of thoughtful items to support our most vulnerable patients as they are discharged over Christmas.

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Torquay Rotary

Torquay Rotary Club donated £1,000 which gave six young adult carers aged 16-25 a life changing experience by enabling them to join a tall ships voyage sailing from Portsmouth to Plymouth.

Pat and Zoe’s fundraising events

Pat, Zoe and Mel have raised thousands over the year for Ricky Grant Day Unit. They have been fundraising for the unit since 2011 and their have helped change countless lives.

JJ and Jamie

Senior Practice Pharmacists JJ and Jamie from Compass House Surgery, Brixham, launched their mission to raise £10,000 for Torbay’s Breast Care Unit, cycling over 1,000 miles each.

Darren Whittington

Darren took on the challenge to run 26.2 miles following a breast cancer diagnosis last year and raised £967. Thankfully the cancer has now been removed, but his support will benefit the care of current and future patients of our breast care unit.

Mia

Mia raised an amazing £1,409 by jumping out of a plane at :5 ‘ aly 15,000ft raising money to support care of older children and young people on Louisa Cary ward.

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Andy Uglow and friends

Andy and friends braved the shave and raised £1,168 for Ricky Grant Day Unit before Andy started stem cell treatment on the unit

Torquay United

Torquay United are longstanding supporters of Louisa Cary and during this year they helped to fund a new carbon dioxide monitor and a parent bed as well as popping in at Christmas to bring gifts and say hello.

Caleb, Stacey and Lee Prowse

Caleb and his parents climbed Ben Newis and raised £545 for the maternity bereavement suite at Torbay Hospital. The family were climbing in memory of their babies Avery and Blake

Shaun Wingrove

Shaun ran the Eden Marathon and raised £1,200 for the special care baby unit at Torbay Hospital. Shaun’s twin boys were born six and a half weeks prematurely and spent three weeks on the unit.

Sarah Clark

Sarah took on one of the toughest Ironman events in the world to raise £941 for The Lodge cancer support centre. The Ironman event in Tenby, Wales, included a 2.2 mile sea swim, 112 mile bike ride with 8,000 feet of climbing and a 26.2 mile run with 1,600 feet elevation in 17 hours!

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Mike Waters

Donations made in memory of Mike’s late wife, Marilyn, funded a doppler and headlamp for our Breast Care Unit. More than £2,300 was donated in memory of Marilyn.

Team TSD

Our Torbay and South Devon NHS staff brewed up a storm during the NHS Big Tea raising over £1,500 to fund activities for young adult carers, cheer up an outpatient waiting room, purchase plants to brighten an outside space and even fund a talking book machine.

Marco, charge nurse at Newton Abbot Hospital, raised over £500 for patients needing stroke and neuro rehabilitation on Templer ward by bravely jumping out of a plane.

His courage has funded innovative special gloves which help retrain hands and feet after a stroke or for patients with neurological impairment

Torview community midwives, based at Newton Abbot hospital, raised an amazing £450 from their Easter bake sale and raffle.

Our midwives are passionate about improving families’ experiences through pregnancy, birth and the postnatal period and are raising funds to make improvements to the maternity unit for local families.

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Spotlight on . . .

Some of our NHS staff really do give new meaning to going the extra mile when it comes to fundraising for our charity.

Three very different but equally amazing colleagues have raised over £20,000 for our charity between them in recent years.

We want to give them a special shout out and say a heartfelt thank you.

Cheryl MacKinnon and the Young Adult Carers (YAC) team

Between the YAC team (Cheryl Mackinnon, Dave Baker and Julie Moseley) and current and former young adult carers they do a fantastic job to raise significant amounts of money for young people aged 16-25 who care for a family member or friend. Not only do their activities raise thousands of pounds, but they also raise awareness.

Jane Read, Special care baby unit

Jane is a tireless charity fundraiser for the Special Care Baby Unit, spending many hours running raffles, collecting prizes and contacting people and companies in a bid to provide our precious babies and their families with some small comforts during very difficult times.

Gill Walach, Templer ward, Newton Abbot community hospital

Gill has been continually leading fundraising for Templer ward. She has organised raffles, sponsored events, craft sales on the ward to raise funds she has also herself fundraised by taking part in sponsored events for the ward and co-ordinated others to participate.

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Leaving a lasting legacy

This year we received gifts in Wills, totalling £214,000 which helped us support areas such as the special care baby unit.

Writing your Will helps ensure your loved ones are protected in years to come and can also help to care for future generations of people in Torbay and South Devon.

What makes haematology unique as a speciality is that not only do we look after our patients we are also heavily involved in the laboratory diagnosis of their conditions. Being able to use an excellent and modern microscope is especially important for this.

Thanks to an exceedingly kind legacy to benefit the haematology team, we have been able to purchase a double-headed microscope which is vital for side-by-side teaching of our postgraduate doctors. This will help to improve their diagnostic skills to become outstanding haematology consultants of the future.

We all take great pride in the excellent teaching we deliver so on behalf of the whole haematology team; I would like to extend my gratitude for this legacy which will benefit patients as a result of the greatly enhanced teaching opportunities within the team.

To find out more about leaving a gift to Torbay and South Devon’s NHS call 07557 481459 or visit www.charity.torbayandsouthdevon.nhs.uk

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Looking forward

We have set an ambitious fundraising strategy for the next five years which puts people at the heart of everything we do and is aligned to the vision of Torbay and South Devon NHS Foundation Trust for better health and care for all.

Our vision is to provide better care for you, your family and neighbours, from birth to the end of life and everything in-between. By supporting us, you are helping to make things better for people in Torbay and South Devon.

For the next year we have identified the following priorities for spending the monies raised through donations, legacies and grants:

Our fundraising mission is to work with Torbay and South Devon NHS Foundation Trust to make a positive impact on the health and wellbeing of people who use their services and the dedicated, talented and amazing people and volunteers who deliver care and services.

Over the next year we will focus on:

Our first ever twin cot for our special care baby unit

Appendix

1. Reference and administrative information

Charity name: Torbay and South Devon NHS Charitable Fund. Our working name is Torbay and South Devon NHS Charity.

Charity registration No: 1052232

Governing document: Declaration of Trust dated 12/12/1995 as amended by supplemental deed dated 04/07/2007 as amended by deed dated 06/01/2016.

2. The Corporate Trustee

The Corporate Trustee of Torbay and South Devon NHS Charitable Fund (the charity) is Torbay and South Devon NHS Foundation Trust (the Trust). The Board of Directors of the Trust are responsible for the trusteeship of the charity. The members of the Board of Directors at the date of signing of this report were:

Non-executive Members

Chris Balch - Chair Martin Beaman Richard Crompton Vikki Matthews Paul Richards Robin Sutton Siân Walker-McAllister Robert Williams

Executive Members

Liz Davenport – Chief Executive

Adel Jones – Chief Strategy and Transformation Officer/Deputy Chief Executive Mark Brice – Interim Chief Finance Officer Arun Chandran – Chief Operating Officer Nicola McMinn – Interim Chief Nurse Dr Michelle Westwood – Chief People Officer Dr Catherine Lissett – Chief Medical Officer

Dr Joanne Watson – Health and Care Strategy Director

Emily Long – Director of Corporate Governance and Trust Secretary

The non-executive directors on the Board of Directors are appointed and reappointed by the Trust’s Council of Governors in accordance with Schedule 1 of the Health and Social Care (Community Health and Standards) Act 2003, the National Health Service Act 2006 as amended by the Health and Social Care Act 2012, the Trust’s Constitution and the NHS England (regulator of NHS Foundation Trusts and NHS Trusts) Code of Governance. The general duties of the Council of Governors are to hold the non-executive directors individually and collectively to account for the

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performance of the Board of Directors and to represent the interests of the members of the Trust as a whole and the interests of the public.

Newly appointed members of the Board go through an induction procedure to assist them in adjusting to the new social and working conditions in order to achieve maximum safe working and efficiency in the shortest possible time, to ensure they have knowledge of the organisation structure and how their particular area of work relates to the ‘broader picture’.

The Trust administers the charity and disburses to the charity the cost of doing this. Further details are provided in Notes 3 and 10 to the Accounts. The Trust also charged the charity £18,000 per annum for the rent of the premises occupied by Rainbow Nursery. The rental value was provided by the District Valuer.

For day-to-day purposes, the charity uses the working name Torbay and South Devon NHS Charity. This working name has been registered with the Charity Commission. The charity’s legal name however remains Torbay and South Devon NHS Charitable Fund.

3. Organisation structure

NHS bodies are not themselves charities. Only the property they hold on trust for exclusively charitable purposes constitutes charitable property.

The Trust’s charitable funds are held within an Umbrella charity and 21 Special Purpose charities (2022/23: 21). These do not constitute separate charities for accounts purposes. However, they facilitate the correct direction of donations towards the purposes for which they were granted. Each Special Purpose charity itself is divided into a number of designated funds for particular purposes. There are 173 funds in total (2022/23: 188).

----- Start of picture text -----
BOARD OF DIRECTORS OF CORPORATE TRUSTEE
(Torbay and South Devon NHS Foundation Trust)
CHARITY COMMITTEE
(Director of Operational Finance, Chief Medical Officer and two Non-Executive
Directors)
FUND MANAGERS INVESTMENT
MANAGER
(Senior staff employed by the Trust to whom the Corporate
Trustee has delegated responsibility for the day to day
management of specific designated funds)
----- End of picture text -----

Fund Managers have responsibility for managing these funds in accordance with procedures and with the concurrence of the Corporate Trustee. Fund Managers

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have delegated authority to authorise expenditure items up to £5,000. Items above this value require central approval.

4. Objectives

The governing document is the Model Declaration of Trust for an NHS Umbrella Charity dated 12 December 1995. The Objects clause states that the Corporate Trustee shall “hold the fund upon trust to apply the income and, at their discretion, so far as may be permissible, the capital, for any charitable purpose or purposes relating to the National Health Service”.

Each Special Purpose charity has its own governing document. The Objects clauses of the Special Purpose charities follow that of the Umbrella charity but, in addition, restrict the Objects ‘wholly or mainly’ to that of the relevant location or department.

5. Aims

The Trust has resources from Exchequer funds which, though limited, are assigned according to a strict assessment of priorities and risks. Charitable funds are used to achieve an additional benefit for patients. To this end, charitable funds are used for items which cannot be met from Exchequer resources. In addition to taking due account of the expressed wishes of donors, decision-makers also take due account of the likely expectations of donors and other stakeholders regarding the appropriate use of charitable funds and the possibility of damage to the charity’s reputation from inappropriate use. Many donations from the general public are unsolicited and may be given with or without an indication of how the donor wishes the donation to be used

The uses of charitable funds will include for example, medical equipment, building work, training and education and non-commercial research.

The Corporate Trustee seeks to ensure that the charity responds to the needs of the population by continuous consultation with beneficiaries, appropriate health professionals and representatives of local health bodies. Charitable funds are used to provide equipment, amenities and other patient benefits, for the advancement of health and to improve the conditions under which patients are cared for and to help to make staff within the local health community more effective in delivering healthcare.

Representatives of the Trust meet regularly with the local Hospital Leagues of Friends, to whom bids are made for donations of equipment which it would not otherwise be possible to fund. The Leagues of Friends' members are themselves potential patients of the local NHS services. Many also serve in a voluntary capacity within local hospitals.

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The charity has complied with its duty under the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The beneficiaries of the charity are users of the National Health Service, which is a public class of people (within the meaning of the public benefit guidance). The charity therefore considers that its charitable activities are for the public benefit.

The charity achieves its aims principally through making grants of equipment or services to relevant NHS bodies (principally the Trust). The charity’s policy for grantmaking is described above. In addition, until 01 December 2023 the charity ran a day nursery open to employees of relevant NHS bodies, which improves staff morale and retention and hence benefits patients. During the year it was agreed to transfer the nursery to the Trust, as described further in section 6.1. The charity does not currently make use of social investment. The charity’s use of volunteers is confined to its use of volunteer fundraisers.

6. Monitoring

Each year, the charity prepares an income and expenditure plan. This plan takes into account feedback received from Fund Managers, who are usually medical practitioners and other front-line staff who can best assess the needs of their patients. This plan is considered and approved by the Charity Committee, with delegated authority from the Trust Board.

The charity measures the success of the strategy through regular meetings of the Charity Committee, which in turn reports to the Trust Board.

The investment policy balances short-term income needs with medium to long-term growth to ensure the ability to meet future financial commitments. The Committee meets and communicates regularly with the charity's investment manager and monitors the manager's performance closely.

7. Performance against objectives

The charity’s over-riding objective is to use donations within a reasonable timeframe to make grants which achieve the greatest benefit for the charity’s beneficiaries. The charity sets default grant-making priorities each year, in line with Charity Commission guidance. For 2023/24, these priorities were:

Given the extensive nature of the services supported by the charity, the charity’s management cannot be aware of changing patient need within each individual service and therefore primarily relies upon its Fund Managers to decide how best to

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utilise donations (subject to the delegated authority limit detailed in section 2). The above priorities are therefore a guide and are not prescriptive.

Due to its nature, voluntary income is dependent on the wishes of donors and is inherently variable. Grant expenditure is almost entirely discretionary and hence also highly variable. For these reasons, performance against the charity’s annual plan is normally subject to a relatively high level of variability.

2023/24 2022/23
Plan Actual Variance Actual
£'000 £'000 £'000 £'000
Income 1,090 1,050 -40 903
Expenditure -1,186 -897 289 -1,064
(Deficit)/surplus prior to
investment gains/losses		 -96 153 249 **-161 **

The charity planned in 2023/24 to incur a deficit (before investment gains/losses) of £96,000. The actual result was a surplus (before investment gains) of £153,000, which was £249,000 favourable to plan. The principal variances were:

On behalf of those users of our services who have benefited either directly or indirectly, the Corporate Trustee would like to thank all the donors who have made contributions to the funds during the year. Examples of some of the ways in which donations have been used are given in our impact report, above.

7.1. Rainbow nursery

The nursery is a purpose-built facility, sited at the Torbay Hospital Annexe, with 54 registered places. It provides staff with reassurance that their children are being well cared for while they are at work. The nursery funds its costs from fees received from parents of the children and from Early Years funding received from Torbay Council.

During the year the charity and the Trust reviewed the governance and operations of the nursery. It was jointly agreed that it would be more effective for the nursery to be held by the Trust rather than by the charity. As a result, the nursery was transferred from the charity to the Trust on 01 December 2023. The principal reason for this change was that the nursery is a service-provider. Its work is thus closer to the work

38

of the Trust (which is also a service-provider) than to the work of the remainder of the charity (which is a grant-maker). As such, the Trust would be better able to manage nursery services and this would leave the charity better able to focus on its grantmaking work.

During the 8-month period April to November 2023, the Rainbow nursery incurred a deficit of £10,000 (2022/23: full-year deficit of £17,000).

7.2. Income

----- Start of picture text -----
Income 2023/24 Other income
1%
Donations
25%
Rainbow nursery
income
39%
Legacies
20%
Investment
income Grants
4% 11%
----- End of picture text -----

Income 2023/24 2022/23
£'000 £'000
Donations 264 143
Legacies 214 11
Grants 115 78
Investment income 36 40
Rainbow nursery income 409 619
Other income 12 12
Total Income 1,050 903

Donations income has risen significantly since the prior year. It is likely that this reflects the efforts of the charity’s experienced Fundraising Manager, who has been in post since September 2022.

39

A gift in a will is a valued way of donating to charity and we are fortunate to be remembered by so many people each year. Legacy income is unpredictable and therefore tends to vary from year to year. Legacy income was significantly higher than the prior year, largely due to the extremely generous legacy of £200,000 from the late Sheila Flowers. During 2023/24, a total of £214,000 was kindly bequeathed to the charity from five legacies. These ranged in value from £1,000 up to £200,000.

Nursery income was significantly lower than the prior year, due to the decision to transfer the nursery to the Trust on 01 December 2023, as described further earlier in this section.

Torbay and South Devon NHS Charitable Fund participates in the government's Gift Aid scheme. Wherever possible we encourage donors to assist us with this by authorising us to claim tax back from HM Revenue and Customs in respect of their donation. This can increase the value of the donation by 25% at no additional cost to the donor. In 2023/24 we boosted our donations by £10,840 as a result of this initiative.

Examples of some of the generous donations received during the year are given in our impact report, above.

7.3. Expenditure

40

Expenditure 2023/24 2022/23
£'000 £'000
Capital equipment 66 17
Patient care projects 259 294
Staff welfare 41 49
Staff development 18 19
Research 0 1
Rainbow nursery expenditure 419 636
Fundraising costs 80 31
Investment management 14 15
Other expenditure 0 2
Total resources expended 897 1,064

Charitable expenditure almost always consists of discretionary one-off project costs (for example, purchase of medical equipment). As such, it tends to fluctuate from year to year.

Rainbow nursery expenditure was significantly lower than the prior year, due to the decision to transfer the nursery to the Trust on 01 December 2023, as described further in section 6.1.

Fundraising costs rose as 2023/24 was the first full year in which our Fundraising Manager was in post and as we were fortunate to receive grant funding from NHS Charities Together specifically intended to strengthen our fundraising capacity.

Examples of some of the ways in which donations have been used are given in our impact report, above.

8. Risk Management

The Charity operates within the framework of internal control established by Torbay and South Devon NHS Foundation Trust, for which the Board of Directors of the Trust is accountable.

The system of internal control is based on an ongoing process designed to:

Responsibility for the oversight of the risk management process has been delegated by the Board to the Risk and Assurance Integrated Governance Group which manages the assurance framework. The Trust's risk management strategy provides an integrated framework for the identification and management of risks of all kinds. This is supported by a single risk management and assurance framework. There is a review process under the leadership of the executive directors.

41

The charity has identified the following principal risks and uncertainties:

This risk is controlled through staff training and management, the Trust’s risk management procedures (eg monitoring of state of nursery building) and appropriate insurance policies. Assurance is provided through the Ofsted regulatory regime and the Trust’s internal assurance processes. Following the transfer of the nursery to the Trust on 01 December 2023, this risk is now managed by the Trust.

The major risks to which the charity is exposed, as identified by the Corporate Trustee, have been reviewed and systems or procedures have been established to manage those risks.

8.1. Internal financial control and governance

The Charity Committee is a sub-committee of the Trust Board and usually meets three or four times a year. It has delegated authority and terms of reference within which it governs, manages and regulates the finances, accounts, investments, assets, business and other affairs of the charity. It reports to the full Board of the Trust, which is ultimately responsible for the Corporate Trusteeship of the charity. There are also procedures specifically related to the financial management of the Charitable Fund. Among other things, these define expenditure limits applicable to the above structure.

Each year an income and expenditure plan is drawn up in consultation with the fund managers in order that the Corporate Trustee may know that the funds are available and adequate to fulfil the obligations of the charity. The financial position as at the 31 March 2024 was more than adequate to meet future plans and obligations as at that date, both overall and on a fund-by-fund basis.

42

The Standing Orders and Standing Financial Instructions of the Trust cover both Exchequer and charitable funds. Financial procedures comply with the Standing Financial Instructions of the Trust and include a Scheme of Delegation to Fund Managers. Compliance is rigorously checked and controlled. The financial and accounting procedures and arrangements are audited periodically by internal audit. The most recent internal audit was conducted during 2024, resulting in a ‘Satisfactory’ assurance rating. Our external auditors audit the accounts annually and no material control issues have been raised.

8.2. Fundraising governance

While the charity aims to ensure that fundraising is always conducted appropriately, given the as yet relatively small scale of fundraising activity the charity has not yet chosen to join or adopt any of the voluntary schemes or standards for fundraising, such as those provided by the Fundraising Regulator or Fundraising Standards Board. This position will be reviewed as the charity’s fundraising activities develop.

There are significant practical limitations on monitoring the activities of volunteer fundraisers (who mostly conduct their fundraising from their private homes). As such, very limited monitoring can be undertaken but the charity is ready to act swiftly in the event of a complaint. No such complaints were received in the year (2022/23: none).

The charity does not believe that there is a significant risk to vulnerable people from the activities of its fundraising manager or volunteer fundraisers who, unlike professional fundraisers and commercial participators, have no financial interest in maximising donations. The charity does ask all volunteer fundraisers not to do anything which would reflect badly on the NHS.

9. Reserves

The Charity Commission defines reserves as “ that part of a charity’s unrestricted funds that is freely available to spend on any of the charity’s purposes ” (Charity reserves: building resilience (CC19)). The underlying purpose is to identify those funds which can potentially act as a contingency against financial risks such as fluctuations in income or in the level of charitable need.

While the charity has minimal funds which are ‘freely available’ in this sense, it has significant fund balances which can be used for any of the charity’s purposes but which are restricted or designated for use within particular clinical areas. As these funds are spread over a wide number of clinical areas, they cumulatively provide a significant source of funding for financial contingencies that the charity might face. For the above reason, the charity assesses its reserves primarily by monitoring the level of overall funds (excluding endowments, which can not be spent).

43

In line with Charity Commission guidance, the policy of the charity is to ensure that donations are spent within a reasonable period of receipt. An appropriate balance may be held in order to take account of potential fluctuations in income and the valuation of the investment portfolio, and to accommodate fluctuations in the level of charitable need which result in changes in expenditure requirements. Balances may also be built up temporarily in order to ‘save up’ for a higher-value item of expenditure. The Corporate Trustee considers this policy to be in the best interests of the charity.

In June 2018, the Committee reviewed the level of funds and set a target level (excluding endowments) of £1.15m. The actual level of these funds can be expected to fluctuate above and below the target, given the variability of voluntary income, discretionary grant expenditure and investment gains/losses. As at March 2024, these funds total £1.41m (March 2023: £1.16m).

The legal structure of the charity includes 21 Special Purpose Charities (see section 2). The governing document of each Special Purpose Charity requires that its funds be ‘wholly or mainly’ spent within a particular clinical area. As a result, funds held within Special Purpose Charities have been classified as restricted funds. The majority of the charity’s funds are held within these Special Purpose Charities and are therefore classified as restricted funds.

10. Assets and liabilities

0.
Assets and liabilities
Total assets and liabilities 31/03/24 31/03/23
£'000 £'000
Investments 1,509 1,479
Debtors 14 9
Cash and cash equivalents 382 104
Total assets 1,905 1,592
Creditors (137) (93)
Total liabilities (137) (93)
Total assets less liabilities 1,768 1,499

The value of investments increased slightly during the year. This was due to the impact of investment gains, partly offset by sales of investments to fund the planned operating deficit. While the charity ended the year with an operating surplus of £153k, the charity had been incurring an operating deficit, up until the receipt in March 2024 of the very generous £200,000 legacy from the late Sheila Flowers. The receipt of this £200,000 legacy in March 2024 also resulted in an unusually high level of cash being held at 31 March 2024.

44

10.1. Investments

Charitable bodies are bound by the Trustee Act 2000. The Corporate Trustee also follows the principles for the investment of charitable funds as outlined by the Charity Commission. The Governing Document authorises the Corporate Trustee to invest the retained funds held in duly authorised investments.

The charity has an investment policy which is reviewed by the Charity Committee at least annually. The current objective is to achieve a balance of maximising current income while aiming for a growth in capital value in order to obtain a reasonable long-term overall return at medium risk.

The investment policy requires the manager specifically to avoid direct investment in companies whose core business is in the following areas:

The investment policy defines the benchmark that portfolio performance is measured against and the permitted ranges for each asset class. These are as follows, with the actual position at March 2024 and March 2023 shown alongside:

Investment
type		 Bench-
mark
weighting		 Benchmark
comparison index		 Permitted
allocation
range		 Actual
allocation
(March
2024)		 Actual
allocation
(March
2023)
Fixed
interest		 18% FTA Government
Gilt Index		 10%-35% 20% 17%
Equities –
UK and
overseas		 65% MSCI All Countries
World Index		 45%-75% 64% 64%
Property 5% IPD Monthly
Property Index		 0%-12.5% 5% 6%
Alternatives 10% IW&I Alternatives
Index		 2.5%-20% 9% 11%
Cash 2% Bank of England
Base Rate minus
0.5%		 0%-20% 2% 2%
Total 100% 100% 100%

The investment manager provides quarterly performance reports, which include performance against the benchmark indices listed above.

A review of the portfolio performance is undertaken by the Charity Committee twiceyearly, alongside a review of the performance of the investment manager. The performance of the investment manager is also subject to a more extensive review every three years.

45

In 2011, the charity appointed Investec Wealth & Investment Limited as discretionary manager of the portfolio. During 2023/24, the charity and Corporate Trustee undertook a re-procurement exercise for this contract and awarded it to LGT Wealth Management UK LLP. However, the change of manager did not take effect until after 31 March 2024.

The Corporate Trustee has also sought assurance from the investment manager regarding the ESG (Environmental, Social and Governance) scoring of the investment portfolio. Based on the Sustainalytics scoring method, at December 2023 the portfolio scored 19.4, which is favourable to the benchmark of 22.3.

11. Contact details

The day-to-day management of the charity is delegated to a senior manager within the Corporate Trustee’s Finance Department. This role is currently undertaken by Patrick Vincent (ACMA).

Principal Address Auditors Torbay and South Devon NHS Charity Bishop Fleming LLP c/o Torbay and South Devon NHS Foundation Salt Quay House, 4 North East Quay Trust Sutton Harbour Hengrave House Plymouth PL4 0BN Torbay Hospital Lawes Bridge Investment Advisers Torquay Investec Wealth & Investment Devon TQ2 7AA 2 Gresham Street London EC2V 7QP Finance Office Charitable Funds Accountant Bankers Finance Department National Westminster Bank plc Torbay and South Devon NHS Foundation Trust 108 Union Street Regent House Torquay TQ1 2AQ Regent Close Torquay Scottish Widows Devon TQ2 7AN 67 Morrison Street Edinburgh EH3 8YJ

Further Information

If you require any further information about Torbay and South Devon NHS Charity please contact the Chief Finance Officer, Torbay and South Devon NHS Foundation Trust, Regent House, Regent Close, Torquay, Devon TQ2 7AN.

Signed on behalf of the Corporate Trustee

Non-Executive Director and member of Charity Committee Torbay and South Devon NHS Foundation Trust

Date:

46

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

TORBAY AND SOUTH DEVON NHS CHARITABLE FUND

ACCOUNTS 2023/24

FOREWORD

These accounts have 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK GAAP as it applies from 1 January 2019.

STATUTORY BACKGROUND

Torbay and South Devon NHS Foundation Trust is the Corporate Trustee of the Torbay and South Devon NHS Charitable Fund under paragraph 47(2)(c) of the National Health Service Act 2006.

The Torbay and South Devon NHS Charitable Fund is registered with the Charity Commission and includes funds held in respect of the following Hospitals:

Ashburton Hospital Bovey Tracey Hospital Brixham Hospital Dartmouth Hospital Dawlish Hospital Newton Abbot Hospital Paignton Hospital Teignmouth Hospital Torbay Hospital Totnes Hospital

MAIN PURPOSE OF THE FUNDS HELD ON TRUST

The main purpose of the fund is to apply income for any charitable purpose relating to the National Health Service wholly or mainly for the services provided by the Torbay and South Devon NHS Foundation Trust.

Page 47

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Statement of Trustee's Responsibilities

The trustee is responsible for preparing the Trustee's Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustee is required to:

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By Order of the Trustee

Signed:

Director of Operational Finance ……......................................... Date ……………………

Page 48

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Independent Auditor’s Report to the Trustee of Torbay and South Devon NHS Charitable Fund

Opinion

We have audited the financial statements of Torbay and South Devon NHS Charitable Fund (the ‘charity’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustee’s Annual Report, other than the financial statements and our auditor’s report thereon. The trustee is responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that f act.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Page 49

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Independent auditor’s report to the trustee of Torbay and South Devon NHS Charitable Fund (continued)

Responsibilities of the trustee

As explained more fully in the Statement of Trustee's Responsibilities, the trustee is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustee is responsible for 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 the trustee either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As a result of these procedures, we have considered the opportunitities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to income recognition, with a particular risk in relation to yearend cut off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities SORP (FRS 102) – Accounting and Reporting by Charities and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty. These include data protection regulations, health and safety regulations, licensing acts and employment legislation.

Page 50

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Independent auditor’s report to the trustee of Torbay and South Devon NHS Charitable Fund (continued)

Auditor responsibilities for the audit of the financial statements (continued)

As a result of performing the above procedures, we have cut-off of revenue recognition as a key audit matter related to the potential risk of fraud. Our procedures to respond to the risks identified included the following:

We also communicated relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to any indicators of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/auditassurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 the charity’s trustee as a body, for our audit work, for this report, or for the opinions we have formed.

Bishop Fleming LLP (Stautory Auditor)

Salt Quay House, 4 North East Quay, Sutton Harbour, Plymouth, Devon, PL4 0BN Date:

Page 51

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Statement of Financial Activities for the year ending 31 March 2024

Note
Income and endowments from:
Donations and legacies
4
5
Other trading activities
5
Investments
6
Total
Expenditure on:
Raising funds
7
Charitable activities
- NHS capital equipment grants
8
- Patient welfare & amenities
8
- Staff welfare & amenities
8
- Staff development
8
- Research
8
- Rainbow nursery expenditure
8
Sub-total charitable activities
Other expenditure
21
Total
Net gains/(losses) on investments
13.4
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
18
Charitable activities		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total
2023/24
2023/24
2023/24
2023/24
£'000
£'000
£'000
£'000
216
377
0
593
0
421
0
421
0
0
0
0
15
21
0
36
231
819
0
1,050
(25)
(65)
(4)
(94)
(6)
(60)
0
(66)
(36)
(223)
0
(259)
(3)
(38)
0
(41)
0
(18)
0
(18)
0
0
0
0
0
(419)
0
(419)
(45)
(758)
0
(803)
0
0
0
0
(70)
(823)
(4)
(897)
28
61
27
116
189
57
23
269
(4)
4
0
0
185
61
23
269
311
852
336
1,499
496
913
359
1,768		 Total
2022/23
£'000
232
631
0
40
903
(46)
(17)
(294)
(49)
(19)
(1)
(636)
(1,016)
(2)
(1,064)
(116)
(277)
0
(277)
1,776
1,499

A prior year Statement of Financial Activities with analysis by fund type is provided in note 2.1.

Page 52

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Balance Sheet as at 31 March 2024

Note
Fixed assets:
Investments
13
Total fixed assets
Current Assets:
Debtors
14
Cash at bank and in hand
15
Total current assets
Liabilities
Creditors: Amounts falling due
within one year
16
Net current assets
Total net assets
The funds of the charity:
Endowment Funds
18
Restricted Income Funds
18
Unrestricted Income Funds
18
Total charity funds		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total
31/03/2024
31/03/2024
31/03/2024
31/03/2024
£'000
£'000
£'000
£'000
405
745
359
1,509
405
745
359
1,509
2
12
0
14
135
247
0
382
137
259
0
396
(46)
(91)
0
(137)
91
168
0
259
496
913
359
1,768
0
0
359
359
0
913
0
913
496
0
0
496
496
913
359
1,768		 Total
31/03/2023
£'000
1,479
1,479
9
104
113
(93)
20
1,499
336
852
311
1,499

The notes on pages 55 to 68 form part of these accounts. A prior year Balance Sheet with analysis by fund type is provided in note 2.2.

The accounts on pages 47 to 68 were approved by the Corporate Trustee on and signed on its behalf by:

Director of Operational Finance

Date

Page 53

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Statement of cash flows for the year ending 31 March 2024

Note
Cash flows from operating activities:
Adjustments for:
- (Gains)/losses on investments
13.4
- Dividends, interests and rents from investments
6
- Decrease/(increase) in debtors
14
- (Decrease)/increase in creditors
16
Net cash used in operating activities
Cash flows from investing activities:
Dividends, interests and rents from investments
6
Less non-cash dividends included within above value
13.3
Plus purchased interest
13.3
Cash withdrawn from the investment portfolio
13.3
Net cash provided by investing activities
Change in cash and cash equivalents over the year
Cash and cash equivalents at the beginning of the year
15
Cash and cash equivalents at the end of the year
15
Net income/(expenditure) for the year (as per the Statement of
Financial Activities)		 Total
2023/24
£'000
269
(116)
(36)
(5)
44
156
36
1
0
85
122
278
104
382		 Total
2022/23
£'000
(277)
116
(40)
1
66
(134)
40
0
0
165
205
71
33
104

Page 54

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

1. Accounting policies

(a) Basis of preparation

The accounts have been prepared under the historic cost convention, with the exception of investments which are included at their market value.

These accounts have 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK GAAP as it applies from 1 January 2019.

The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice 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 2019) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Judgements

The most significant judgements made in applying the charity's accounting policies are:

Estimates

The charity does not consider that it makes any estimations which have a significant risk of causing a material adjustment within the following financial year. For a small proportion of investments such as property unit trusts, valuations may be estimated by the unit trust manager and are subject to some uncertainty. The potential impact is small.

Going concern

Up until 30 November 2023, the charity was responsible for the Rainbow nursery, which was a material business activity. The nursery was transferred to the Foundation Trust on 1 December 2023, as explained further in Section 6 of the Annual Report. Since this point, the charity's remaining business activities (such as the sale of mastectomy bras to patients) have been immaterial.

The charity's non-business activities (grants to support the work of the Foundation Trust) are discretionary. Long-term commitments are not normally made and grants are only awarded where funds are already in place to support the grant. The charity is exposed to the risk of fluctuating voluntary income and/or investment losses, but such risks can be managed through a corresponding reduction in discretionary grant expenditure and/or the utilisation of the charity's significant reserves.

The charity's reserves are largely held within its investment portfolio. Cash can be realised from the investment portfolio within a matter of days.

Taking the above into account, the Corporate Trustee has a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This is not subject to any material uncertainties. The charity therefore continues to adopt the going concern basis in preparing its accounts.

Public benefit and legal form

The charity is a public benefit entity and an unincorporated trust.

Page 55

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

1. Accounting policies (continued)

(b) Funds structure

The Corporate Trustee has the power to accept gifts, including gifts to be held on trust either for the purposes of the Corporate Trustee or for any purposes relating to the NHS. Charitable gifts to the Corporate Trustee which are held on trust are held by the charity and accounted for as gifts to the charity.

Some charitable gifts are only given to the Corporate Trustee after corresponding expenditure specified by the donor has already been incurred by the Corporate Trustee. In such cases, the gifts have been expended before they have been received. They are consequently not required to be held and are accounted for only as gifts to the Corporate Trustee.

Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified either as an endowment fund, where the donor has expressly provided that 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.

Endowment funds, where capital is held to generate income for charitable purposes, are sub analysed between those where the trustee has the discretion to spend the capital, expendable endowment and those where there is no discretion to spend the capital, permanent endowment. The charity has five permanent endowment funds and no expendable endowments.

Those funds which are neither endowment nor restricted income funds are unrestricted income funds which are used wholly at the trustee's discretion.

The major funds held in each of these categories are disclosed in note 18.

(c) Incoming resources

All incoming resources are recognised once the charity has entitlement to the resources, it is probable (more likely than not) that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Until these criteria are met, any monies received would be classified as deferred income.

(d) Incoming resources - legacies

Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy is probable. Receipt is probable when:

If there is uncertainty as to the amount of the legacy and it cannot be reliably estimated then the legacy is shown as a contingent asset until all of the conditions for income recognition are met.

(e) Incoming resources from endowment funds

The incoming resources received from the investment of endowment funds have been earmarked in accordance with the donor's stated wishes by allocating to the nominated restricted general funds.

(f) Resources expended and irrecoverable VAT

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to each category of expense shown in the Statement of Financial Activities. Expenditure is recognised when the following criteria are met:

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

Page 56

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

1. Accounting policies (continued)

(g) Resources expended - grants

Grants payable are payments or donations of goods or services made to linked, related party or third party NHS bodies and non NHS bodies, in furtherance of the charitable objectives of the funds held on trust, primarily relief of those who are sick.

Grant payments are recognised as expenditure when the conditions for their payment have been met or where there is a constructive obligation to make a payment.

Evidence of a constructive obligation exists where:

The Trustee has control over the amount and timing of grant payments and consequently where approval has been given by the Trustee and all of the above criteria have been met then a liability is recognised. Grants are not usually awarded with conditions attached. However, when they are, then those conditions have to be met before the liability is recognised.

Due to the close working connection between the charity and the Corporate Trustee, the recognition criteria will normally only be met when the charity's staff team have clearly indicated the charity's acceptance of a grant liability.

(h) Allocation of overhead and support costs

Support costs are those costs which do not relate directly to a single activity. These include some staff costs, costs of administration, internal and external audit costs. Support costs have been apportioned between fundraising costs and charitable activities on an appropriate basis. The analysis of support costs and the bases of apportionment applied are shown in note 10.

(i) Fundraising costs

The costs of generating 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 costs of generating funds represent fundraising costs together with investment management fees.

(j) Charitable activities

Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the charity. These costs, where not wholly attributable, are apportioned between the categories of charitable expenditure in addition to the direct costs. The total costs of each category of charitable expenditure include an apportionment of support costs as shown in note 8.

(k) Fixed asset investments

Investments are a form of basic financial instrument. Fixed asset investments are initially recognised at their transaction value and are subsequently measured at their fair value (market value) as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares are included in the Balance Sheet at the current market value quoted by the charity's investment manager, excluding dividend.

The main form of financial risk faced by the charity is that of volatility in investment and foreign exchange markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning particular investment sectors. Further information on investments can be found in note 13.

Page 57

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

1. Accounting policies (continued)

(k) Fixed asset investments (continued)

All investment 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 carrying value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening carrying value (or purchase date if later).

Fixed asset investments includes cash held by the investment manager for investment purposes.

(l) Debtors

Debtors are amounts owed to the charity. These are measured on the basis of their recoverable amount.

(m) Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

(n) Creditors

Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt.

(o) Financial Instruments

The charity's Financial Instruments are all Basic Financial Instruments and consist of:

(p) Pensions

The charity does not issue contracts of employment or operate a pension scheme. Employees of Torbay and South Devon NHS Foundation Trust who are under the control of the charity are treated as charity staff. Pension costs in relation to these staff are recharged to the charity by the Foundation Trust.

(q) Pooling scheme

An official pooling scheme is operated for investments relating to the following funds:

South Devon Healthcare NHS Foundation Trust (Expendable Funds) Common Investment Fund South Devon Healthcare NHS Foundation Trust (Capital) Common Investment Fund

The scheme was registered with the Charity Commission on 23rd February 1999.

(r) Taxation

The Charity is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried on in the furtherance of the charity’s primary objectives, if these profits and surpluses are applied solely for charitable purposes.

Page 58

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the accounts

2. Prior year comparatives by type of fund

2.1 Statement of Financial Activities

Note
Income and endowments from
Donations and legacies
4
5
Other trading activities
Investments
6
Total
Expenditure on:
Raising funds
7
Charitable activities
- NHS capital equipment grants
8
- Patient welfare & amenities
8
- Staff welfare & amenities
8
- Staff training & education
8
- Research
8
- Transfers to other charities
8
- Rainbow nursery expenditure
8
Sub-total charitable activities
8
Other expenditure
Total
Net gains on investments
13.4
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
18
Charitable activities		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total
2022/23
2022/23
2022/23
2022/23
£'000
£'000
£'000
£'000
9
223
0
232
0
631
0
631
0
0
0
0
17
23
0
40
26
877
0
903
(12)
(31)
(3)
(46)
(8)
(9)
0
(17)
(72)
(222)
0
(294)
(5)
(44)
0
(49)
(1)
(18)
0
(19)
0
(1)
0
(1)
0
0
0
0
0
(636)
0
(636)
(86)
(930)
0
(1,016)
0
(2)
0
(2)
(98)
(963)
(3)
(1,064)
(31)
(59)
(26)
(116)
(103)
(145)
(29)
(277)
0
0
0
0
(103)
(145)
(29)
(277)
414
997
365
1,776
311
852
336
1,499

Page 59

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the accounts

2. Prior year comparatives by type of fund (continued)

2.2 Balance Sheet

Note
Fixed assets:
Investments
13
Total fixed assets
Current Assets:
Debtors
14
Cash at bank and in hand
15
Total current assets
Liabilities
16
Net current liabilities
Total net assets
The funds of the charity:
Endowment Funds
18
Restricted Income Funds
18
Unrestricted Income Funds
18
Total charity funds
18
Creditors: Amounts falling
due within one year		 Unrestricted
Funds
(restated)
Restricted
Funds
(restated)
Endowment
Funds
Total
(restated)
31/03/2023
31/03/2023
31/03/2023
31/03/2023
£'000
£'000
£'000
£'000
306
837
336
1,479
306
837
336
1,479
2
7
0
9
23
81
0
104
25
88
0
113
(20)
(73)
0
(93)
5
15
0
20
311
852
336
1,499
0
0
336
336
0
852
0
852
311
0
0
311
311
852
336
1,499

Page 60

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the accounts

3. Related party transactions

During the year no parties (2022/23: none) related to a member of the Board of Torbay and South Devon NHS Foundation Trust (the Corporate Trustee) has undertaken material transactions with the charity. No members of the key management staff or parties related to them has undertaken any material transactions with the charity (2022/23: none).

During the year one (2022/23: 1) public sector organisation has undertaken material transactions with the charity. Torbay Council provided £108k (2022/23: £165k) Early Years funding to the charity in respect of the charity's provision of nursery services to eligible children during the part-year period April to November 2023. This service transferred to the Foundation Trust in December 2023 and further details can be found in Note 6 of the Annual Report.

The charity has made revenue and capital payments to the Corporate Trustee:

During the year, the Corporate Trustee was not paid or reimbursed for the costs it incurs in its role as Corporate Trustee, such as the salary costs of members of the Board of the Corporate Trustee (2022/23: £0).

There was an outstanding creditor due to Torbay and South Devon NHS Foundation Trust at 31st March 2023 of £114k (31 March 2023: £57k).

No members of the Corporate Trustee's Board received honoraria, emoluments or expenses in the year from the Charitable Fund (2022/23: none).

Page 61

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

4. Donations and legacies

Donations
Legacies
Grants
Total
. Charitable activities
Rainbow nursery income
Other
Total		 Unrestricted
Funds
£'000
8
208
0
216
Unrestricted
Funds
£'000
0
0
0		 Restricted
Funds
£'000
256
6
115
377
Restricted
Funds
£'000
409
12
421		 Endowment
Funds
£'000
0
0
0
0
Endowment
Funds
£'000
0
0
0		 Total
2023/24
£'000
264
214
115
593
Total
2023/24
£'000
409
12
421		 Total
2022/23
£'000
143
11
78
232
Total
2022/23
£'000
619
12
631

5. Charitable activities

Rainbow nursery provides nursery services, primarily to employees of Torbay and South Devon NHS Foundation Trust. Charity nursery income was substantially lower than the prior year, as the nursery was transferred to the Foundation Trust as from 1 December 2023. Further details are provided in section 6 of the Annual Report. The 'Other' category principally relates to income from sales of mastectomy bras to patients.

6. Investments

Listed investments
Total		 Unrestricted
Funds
£'000
15
15		 Restricted
Funds
£'000
21
21		 Endowment
Funds
£'000
0
0		 Total
2023/24
£'000
36
36		 Total
2022/23
£'000
40
40

Investment income is received from the charity's investment portfolio. In recent years, interest income received from cash balances has been negligible.

7. Raising funds

Investment management costs
Fundraising costs		 Unrestricted
Funds
£'000
(3)
(22)
(25)		 Restricted
Funds
£'000
(7)
(58)
(65)		 Endowment
Funds
£'000
(4)
0
(4)		 Total
2023/24
£'000
(14)
(80)
(94)		 Total
2022/23
£'000
(15)
(31)
(46)

The charity employs a professional investment management company to manage its investment portfolio. During the year, the portfolio was managed by Investec Wealth & Investment Ltd. In March 2024, the Charity appointed LGT Wealth Management UK LLP to manage the portfolio but this change took effect after the reporting date. Fundraising costs were substantially higher than the prior year, firstly as the Charity's fundraising manager role was a new role that commenced part-way through the prior year and secondly because the Charity utilised a grant from NHS Charities Together during the year to strengthen its fundraising function.

8. Analysis of expenditure on charitable activities

NHS capital equipment grants
Patient welfare & amenities
Staff welfare & amenities
Staff development
Research
Transfers to other charities
Sub-total - grant expenditure
Rainbow nursery expenditure
Total		 Activities
undertaken
£'000
0
0
0
0
0
0
0
(416)
(416)		 Grant
expenditure
£'000
(66)
(185)
(39)
(15)
0
0
(305)
0
(305)		 Support
costs
£'000
0
(74)
(2)
(3)
0
0
(79)
(3)
(82)		 Total
2023/24
£'000
(66)
(259)
(41)
(18)
0
0
(384)
(419)
(803)		 Total
2022/23
£'000
(17)
(294)
(49)
(19)
(1)
0
(380)
(636)
(1,016)

Page 62

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

8. Analysis of expenditure from charitable activities (continued)

With the exception of the running costs of the Rainbow nursery, the charity's expenditure consists of grants to relevant NHS bodies. Charity nursery expenditure was substantially lower than the prior year as the nursery transferred to the Foundation Trust as from 1 December 2023. Further details are provided in section 6 of the Annual Report.

9. Analysis of grant expenditure

All grants are made to organisations. All grants have been made to Torbay and South Devon NHS Foundation Trust (2022/23: all grants).

An analysis of grant expenditure by type of activity is given in Note 8, which also discloses the support costs allocated to each category of grant expenditure.

10. Support costs

0. Support costs
Basis of
allocation
External audit fees
Value of balance
Staffing cost - governance activities
Value of balance
Total governance cost
Staffing cost - administrative activities
Value of expenditure		 Charitable
activities
£'000
14
25
39
43
82		 Total
2023/24
£'000
14
25
39
43
82		 Total
2022/23
£'000
13
22
35
62
97

Support costs are those costs which can not be directly attributed to an individual activity. These include the cost of the staff who administer the charity and governance costs (such as the audit fee). In deciding upon a basis for allocating support costs, the charity has considered the Charity Commission's 'NHS Charities Guidance'. The charity believes that 'value of balance' is the most appropriate basis of allocation for governance costs, as the value of funds is a key driver for governance activities, and 'value of expenditure' is the most appropriate basis of allocation for day to day management/administration costs, as management of expenditure is the principal administrative activity. Support costs are allocated across c 200 separate funds. This is a complex process and, as such, the charity does not consider that it would be sensible to adopt a more complex basis of apportionment. Support costs are allocated between fund types in line with the above bases of apportionment.

Most support costs are incurred by the Foundation Trust and recharged to the charity, as disclosed in Note 3 and as described in Note 12. Support costs are lower than in the prior year, due to the reducing cost of administering the very generous donations in response to the Covid pandemic.

Grant expenditure tends to consist of one-off discretionary projects. By contrast, Rainbow nursery expenditure mainly consisted of recurring costs which were simple to administer, once set up. The allocation of support costs took account of this distinction and reduced the allocation to Rainbow nursery accordingly.

Analysis of support costs by fund

Capital equipment
Patient welfare
Staff welfare
Staff development
Rainbow nursery expenditure		 Unrestricted
Restricted
Funds
Funds
£'000
£'000
0
0
9
65
0
2
0
3
0
3
9
73		 Endowment
Funds
£'000
0
0
0
0
0
0		 Total
2023/24
£'000
0
74
2
3
3
82		 Total
2022/23
£'000
1
87
3
2
4
97

Page 63

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

11. Auditors' remuneration

The auditors' remuneration of £12,000 excl VAT (2022/23 £11,000 excl VAT) related to the audit with no additional work undertaken (2022/23: none). Including irrecoverable VAT, the cost to the charity was £14,400 (2022/23: £13,200).

12. Analysis of staffing cost

Wages and salaries
Social security costs
Employer contributions to NHS Pension Scheme
Average headcount
Average whole-time equivalent		 Rainbow
nursery
£'000
305
22
45
372
28.9
19.9		 Fundraising
costs
£'000
50
6
5
61
1.0
1.0		 Support
costs
£'000
55
5
8
68
5.9
1.2		 Total
2023/24
£'000
410
33
58
501
35.8
22.1		 Total
2022/23
£'000
573
42
71
686
38.9
22.5

The charity does not issue contracts of employment. The values disclosed above relate to staff who are employed on contracts of employment issued by Torbay and South Devon NHS Foundation Trust but who are effectively under the control of the charity and are therefore treated as employees of the charity. From time to time the charity, in addition, provides funding to the Foundation Trust to support other staff posts (eg research posts) but does not control these individuals, who are therefore not considered to be employees of the charity and are not included within the values disclosed above.

Nursery pay cost was substantially lower than the prior year as the nursery transferred to the Foundation Trust as from 1 December 2023. Further details are provided in section 6 of the Annual Report.

There are no employees who received employee benefits excluding employer pension costs of more than £60,000 (2022/23: none).

13. Investments

13.1 Fixed asset investments by class

Listed investments - at fair value
Cash or cash equivalents
Total
Movement in fixed asset investments - listed investments
Market value brought forward at 1st April
Purchases at cost
Disposals at carrying value
Unrealised gain/(loss) on revaluation
Market valuation as at 31st March		 Total
value held
in the UK
2023/24
£'000
1,483
26
1,509
2023/24
£'000
1,454
453
(546)
122
1,483		 Total
value held
in the UK
2022/23
£'000
1,454
25
1,479
2022/23
£'000
1,703
218
(384)
(83)
1,454

13.2 Movement in fixed asset investments - listed investments

Page 64

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

13. Investments (continued)

13.3 Movement in fixed asset investments - cash or cash equivalents

Brought forward at 1st April
Proceeds on disposal of listed investments
Purchases of listed investments
Purchased interest
Cash withdrawn from the investment portfolio
Value as at 31st March		 2023/24
£'000
25
540
(453)
(1)
(85)
26		 2022/23
£'000
57
351
(218)
0
(165)
25

During 2023/24 the charity withdrew £85,000 from the investment portfolio (2022/23: £165,000). These withdrawals are made in order to fund planned reductions in reserves (as described in the Annual Report).

13.4 Gains on investments

Realised (losses)/gains
Unrealised (losses)/gains
Total
14. Debtors
Trade debtors
Prepayments and accrued income
Total
15. Cash at bank and in hand
Current account
Deposit accounts
Total
16. Creditors: amounts falling due within one year
Accruals
Deferred Income
Torbay and South Devon NHS Foundation Trust
Total
Analysis of movement in deferred income:
Deferred income brought forward at 1 April
Release in year of deferred income brought forward
Recognition in year of new deferred income
Deferred income carried forward at 31 March
Creditors are unsecured, repayable on demand and not subject to interest.		 2023/24
£'000
(6)
122
116
Total
2023/24
£'000
0
14
14
Total
2023/24
£'000
378
4
382
Total
2023/24
£'000
(23)
0
(114)
(137)
2023/24
£'000
(13)
13
0		 2022/23
£'000
(33)
(83)
(116)
Total
2022/23
£'000
0
9
9
Total
2022/23
£'000
100
4
104
Total
2022/23
£'000
(23)
(13)
(57)
(93)
2022/23
£'000
0
0
(13)
(13)

Deferred income relates to the activities of the Rainbow nursery, which transferred to the Foundation Trust as from 1 December 2023. Nursery income was deferred where it was received in advance of the delivery of the corresponding nursery services.

17. Contingent assets - legacies

As at 31 March 2023 there were three legacies with an estimated total value of £200k (31/03/2023: two legacies with an estimated value of £8k) where probate had been granted but where income had not been recognised because either the value could not be measured with sufficient reliability or probability of receipt had not been established.

Page 65

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

18. Analysis of funds

Endowment funds (see also note 18.1)
Torbay Hospital PGMC Fund
Ashburton Hospital Easterbrook Bequest
Newton Abbot Hospital Easterbrook Bequest
Newton Abbot Hospital Blake Bequest
Newton Abbot Hospital Gribble Bequest
Total Endowment funds
Restricted income funds (see also note 18.2)
Torbay Hospital Patients
Torbay Hospital Cancer Services
Torbay Hospital Heart & Lung Unit
Torbay Hospital Staff
Torbay Hospital General
Paignton Hospital General
Torbay Hospital General Surgery & Urology
Torbay Hospital Gastroenterology
Torbay Hospital Radiology
Torbay Hospital Radiotherapy
Torbay Hospital Laboratory Medicine
Torbay Hospital Ophthalmology
Torbay Hospital Endocrinology
Torbay Hospital Maternity
Others (6)
Total Restricted funds
Unrestricted income funds (see also note 18.3)
Community Hospitals
Other
Total Unrestricted funds
Total funds		 Balance
Incoming
Resources
Gains and
Transfers
Balance
resources
expended
losses
31/03/2023
31/03/2024
£'000
£'000
£'000
£'000
£'000
£'000
63
0
(1)
6
0
68
19
0
0
1
0
20
18
0
0
2
0
20
219
0
(3)
17
0
233
17
0
0
1
0
18
336
0
(4)
27
0
359
153
27
(58)
12
0
134
78
89
(90)
6
0
83
57
6
(7)
5
0
61
50
417
(431)
3
0
39
182
217
(155)
7
4
255
90
3
(11)
7
0
89
48
3
(8)
4
0
47
17
0
(1)
1
0
17
20
26
(28)
2
0
20
39
3
(6)
3
0
39
48
3
(8)
4
0
47
20
1
(3)
2
0
20
28
2
(3)
2
0
29
17
12
(4)
2
0
27
5
10
(10)
1
0
6
852
819
(823)
61
4
913
65
23
(19)
6
0
75
246
208
(51)
22
(4)
421
311
231
(70)
28
(4)
496
1,499
1,050
(897)
116
0
1,768

Page 66

Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

18. Analysis of funds (continued)

18.1 Details of material Endowment funds

Torbay Hospital Post Graduate Medical Centre (PGMC) Fund - a gift from the South West Regional Hospital Board in 1973, to be held in perpetuity and the income from which is applied to the Torbay Hospital Bursary fund to be used :-

a) to finance projects of an educational or research nature; b) to contribute to expenses for conferences ; and c) to award prizes.

Ashburton Hospital Easterbrook Bequest - a legacy from the estate of the late Elsie Easterbrook, the will being dated 1973, to be held in perpetuity for the benefit of Ashburton Hospital. The income generated is applied to the Ashburton Hospital General Fund.

Newton Abbot Hospital Easterbrook Bequest - a legacy from the estate of the late Elsie Easterbrook, the will being dated 1973, to be held in perpetuity for the benefit of Newton Abbot Hospital. The income generated is applied to the Newton Abbot Hospital General Fund.

Newton Abbot Hospital Blake Bequest - a legacy from the estate of the late Elizabeth Blake who died in 1938 to be held in perpetuity for the benefit of Newton Abbot Hospital. The income generated is applied to the Newton Abbot Hospital General Fund.

Newton Abbot Hospital Gribble Bequest - a legacy from the estate of the late Frederick Gribble who died in 1943 to be held in perpetuity for the benefit of Newton Abbot Hospital. The income generated is applied to the Newton Abbot Hospital General Fund.

18.2 Details of material restricted funds

Torbay Hospital Patients - For the relief of patients treated at Torbay Hospital, Torquay, Devon through the purchase of, for example, medical equipment and staff training & education.

Torbay Hospital Cancer Services - For any charitable purposes in connection with Cancer Services, Torbay Hospital.

Torbay Hospital Heart & Lung Unit - For any charitable purposes in connection with the Heart & Lung Unit, Torbay Hospital.

Torbay Hospital Staff - For the relief of sickness by promoting efficient performance by the staff of Torbay Hospital. This includes the Rainbow Day Nursery, Christmas and other social functions.

Torbay Hospital General - For any charitable purposes for Torbay Hospital, Torquay, Devon, including donations from the Torbay Hospital League of Friends.

Paignton Hospital General - For any charitable purposes for Paignton Hospital, Devon, including donations from the Paignton Hospital League of Friends.

Torbay Hospital General Surgery & Urology - For any charitable purposes in connection with the General Surgery & Urology Directorate, Torbay Hospital.

Torbay Hospital Gastroenterology - For any charitable purposes in connection with the Gastroenterology Unit, Torbay Hospital.

Torbay Hospital Radiology - For any charitable purposes in connection with the Radiology Directorate, Torbay Hospital

Torbay Hospital Radiotherapy - For any charitable purposes in connection with the Radiotherapy Department, Torbay Hospital

Torbay Hospital Laboratory Medicine - For any charitable purposes in connection with the Laboratory Medicine Directorate, Torbay Hospital

Torbay Hospital Ophthalmology - For any charitable purpose in connection with the Ophthalmology Department, Torbay Hospital

Torbay Hospital Endocrinology - For any charitable purposes in connection with the Endocrinology Service, Torbay Hospital

Other restricted funds consist of funds with immaterial opening and closing balances which relate to other wards and clinical departments at Torbay Hospital and other community hospitals as listed in the foreword.

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Torbay and South Devon NHS Charitable Fund - Registered Charity Number 1052232

Notes to the Accounts

18. Analysis of funds (continued)

18.3 Details of material unrestricted funds

Community Hospitals - for any charitable purpose or purposes in connection with the Community Hospitals operated by Torbay and South Devon NHS Foundation Trust, with the exception of Brixham and Paignton Community Hospitals (which each have their own Restricted Funds).

18.4 Transfers between funds

The transfer of £4,000 related to the remainder of a legacy received in 2017. The relevant department indicated that they had no further use for the funding. The Charity Committee agreed that it be transferred to the Torbay Hospital General fund, foruse within other departments.

19. Ultimate controlling party

The ultimate controlling party of the charity is Torbay and South Devon NHS Foundation Trust, which is the Corporate Trustee of the Charity. The Foundation Trust provides NHS healthcare and social care services to the Torbay and South Devon area. Its registered address is Torbay Hospital, Lowes Bridge, Torquay, TQ2 7AA.

Copies of the 2023/24 Annual Report and Financial Statements of Torbay and South Devon NHS Foundation Trust can be obtained by writing to: Chief Finance Officer, Torbay and South Devon NHS Foundation Trust, Torbay Hospital, Lowes Bridge,

20. Mergers

The charity has not undertaken any mergers with other charities.

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Torbay and South Devon NHS Charity, Torbay and South Devon NHS Foundation Trust, Hengrave House, Torbay Hospital, Newton Road, Torquay TQ2 7AA

tsdft.charity@nhs.net https://charity.torbayandsouthdevon.nhs.uk/ =® @tsd_nhscharity f @TorbayAndSouthDevonNHSCharity