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2023-03-31-accounts

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts For the financial year ended 31 March 2023 Charity Number: 1053113

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Table of contents

1. Welcome ............................................................................................................... 1 The key highlights of our year .............................................................................................. 1 2. About the charity ................................................................................................. 2 2.1. Buckinghamshire Healthcare NHS Trust Charitable Fund ............................................ 2 2.2. Reference and administrative details ............................................................................ 3 2.3. Professional advisors .................................................................................................... 5 3. Roles and responsibilities .................................................................................. 5 3.1. Structure, governance and management of the Charitable Fund ................................. 5 3.2. Trustee induction and training ....................................................................................... 9 3.3. Charitable Fund Risk Management Policy .................................................................. 10 3.4. Financial risk management ......................................................................................... 10 3.5. Relationships with related parties and external bodies ............................................... 11 3.6. The role and contribution of volunteers ....................................................................... 12 4. Objectives, public benefit, mission, aims, and strategy ................................ 12 4.1. Objectives ................................................................................................................... 12 4.2. Public benefit .............................................................................................................. 13 4.3. Vision and mission ...................................................................................................... 13 4.4. Aims ............................................................................................................................ 14 4.5. Strategy ...................................................................................................................... 15 5. Activities, achievements, and performance.................................................... 15 5.1. Patient welfare and amenities ..................................................................................... 15 5.2. Staff welfare and amenities ......................................................................................... 16 5.3. Research .................................................................................................................... 16 5.4. Training and education ............................................................................................... 17 5.5. Other activities ............................................................................................................ 17 5.6. Charity’s performance ................................................................................................. 18

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

5.7. Legacies ..................................................................................................................... 19 6. Financial summary ............................................................................................ 19 6.1. Review of finances ...................................................................................................... 19 6.2. Investment policy and performance ............................................................................ 19 6.3. Reserves and accumulated funds .............................................................................. 20 6.4. Grant making policy .................................................................................................... 21 6.5. Fundraising ................................................................................................................. 21 6.6. Governance ................................................................................................................ 22 6.7. Consolidation of accounts ........................................................................................... 22 7. Plans for the future ............................................................................................ 22 8. Financial information, statements and notes ................................................. 25 8.1. Statement of Trustee’s responsibilities in respect of the Accounts .................. 25 8.2. Independent auditor's report ............................................................................. 27 8.3. Statement of financial activities for the year ended 31 March 2023 ................. 31 8.4. Balance Sheet as at 31 March 2023 ................................................................ 33 8.5. Statement of cash flows for the year ended 31 March 2023 ............................ 35 8.6. Notes to the Accounts ...................................................................................... 36

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

1. Welcome

On behalf of the Corporate Trustee of Buckinghamshire Healthcare NHS Trust Charity, we present the Charitable Fund’s (Trustee) Annual Report, together with the Audited Financial Statements, for the year ended 31 March 2023.

This report aims to provide you with an insight into our charity and showcase just some of the many projects and activities we have supported throughout this financial year. This report shows how money raised through the Charitable Fund has in 2022/23 enabled us to make a difference to our patients and colleagues.

It provides information about how the Charity has performed this year, key activities and developments and our plans for 2023/24.

We provide resources and facilities to enhance the services that are provided by Buckinghamshire Healthcare NHS Trust (BHT) to patients, service users and their families as well as to support the staff in delivering these services.

BHT provides quality, care and excellence in its treatment and engagement with patients, donors, their families and other people we come in contact with.

Our funds at 31 March 2023 are £10,214,000 (2021/22: £9,275,000), showing that the Charity remains in a strong financial position to continue its on-going support to the Trust’s activities.

We had another successful year supporting different projects and activities in the Trust. We raised £3,555,000 (2021/22: £627,000) and we spent £2,139,000 (2021/22: £1,063,000) in grants to support the care and treatment of patients and service users, the welfare and development of our staff and research activities. The public continue to be our main supporters, mainly by gifts and legacies from grateful patients and their families.

The key highlights of our year

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The Trustee would like to thank to all our benefactors, fundraisers, supporters, volunteers and staff for their continued generosity and for their commitment and time in raising funds to support the activities of the Charitable Fund. The level of support the Charity receives is exceptional and for this we are extremely grateful. These donations make our work possible, and your future donations are the key to our continued success.

We hope that you will be inspired by our plans to help patients live fulfilling and healthy lives and want to be a part of our story. If you would like to donate, details on how to do this are in this report and on our website. Please support us, every pound counts.

2. About the charity

2.1. Buckinghamshire Healthcare NHS Trust Charitable Fund

The Trustee presents its Annual Report and Accounts for the year ended 31 March 2023. This Trustee’s report and its Financial Statements have been prepared in accordance with the Charities Act 2011 as amended by the Charities Act 2016, the Charity (Accounts and Reports) Regulations 2008, the Statement of Recommended Practice on Accounting and Reporting for Charities (SORP FRS 102), the Charity Commission’s general guidance, the Charity’s Trust Deed, and applicable United Kingdom accounting standards.

They include all the separately established funds of Buckinghamshire Healthcare NHS Trust Charitable Fund which became the registered name of the Charity on 12 October 2012. The Charity was formerly known as South Buckinghamshire Hospitals NHS Trust Charitable Fund. The Annual Report and Accounts are prepared with the intention of informing the reader about the Charity and its financial activities. They are consistent with the Annual Accounts that are prepared from the records maintained.

The Governing Document of the Charitable Fund was registered with the Charity Commission on 5 March 2007. This document encompasses the main objectives of the Charity for the provision of patient care, staff welfare, research and general charitable hospital purposes at Buckinghamshire Healthcare NHS Trust, with the Board of Directors acting as the Trustee. The Trustee is given the authority to efficiently and effectively manage the Charitable Fund.

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The Charity will continue to review its governance arrangements to ensure that they are appropriate and fit for purpose.

2.2. Reference and administrative details

The Buckinghamshire Healthcare NHS Trust Charitable Fund is a charity registered with the Charity Commission.

Registered Charity Number: 1053113

Charity Correspondence Address:

Neil Macdonald, Chief Executive, Buckinghamshire Healthcare NHS Trust Whielden Street, Amersham, Buckinghamshire, HP7 0JD

Telephone: 01494 411 700

The Corporate Trustee is the Board of Buckinghamshire Healthcare NHS Trust

The Board members on the date of the Financial Statements approval, and during the 2022/23 financial year.

Name Trust position title See note
David Highton Trust Chair
Dr Dipti Amin Non-Executive Director 6
Rajiv Jaitly Non-Executive Director 6
John Lisle Non-Executive Director
Tom Roche Non-Executive Director
Nicola Gilham Non-Executive Director
Dr Lise Llewellyn Non-Executive Director 7
Nicola Frayne Non-Executive Director 9
Dr Adrian Hayter Associate Non-Executive Director
Mo Girach Associate Non-Executive Director 5
Elaine Siew Associate Non-Executive Director 8
Sandra Silva Board Affiliate 3
Dr Mark Johnson Board Affiliate 4

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Name Trust position title See note
Hannah Hornby Board Affiliate 3
Dr Sarah Lewis Board Affiliate 4
Neil Macdonald Chief Executive
Karen Bonner Chief Nurse
Andrew McLaren Chief Medical Officer
Raghuv Bhasin Chief Operating Officer
Barry Jenkins Chief Financial Officer 2
Kishamer Sidhu Chief Financial Officer (Interim) 2
Jon Evans Chief Financial Officer 2
Bridget O’Kelly Chief People Officer
Ian Roddis Chief Digital Information Officer (Interim) 1
Duncan Dewhurst Chief Digital Information Officer 1
Ali Williams Chief Commercial Officer

The following changes to the Board took place during 2022/23 and in 2023/24:

  1. Duncan Dewhurst joined the Board on 11 July 2022 as Chief Digital Information Officer in place of Ian Roddis, Interim Chief Digital Information Officer.

  2. Barry Jenkins left his role as Chief Finance Officer on 27 November 2022. Kishamer Sidhu joined the Board on 28 November 2022 as Interim Chief Finance Officer in his place until 21 July 2023. Jon Evans joined as Chief Finance Officer on 17 July 2023.

  3. Hannah Hornby joined the Board on 1 September 2022 as Board Affiliate (nonmedical) to replace Sandra Silva.

  4. Dr Sarah Lewis joined the Board on 1 February 2023 as Board Affiliate (medical) to replace Dr Mark Johnson.

  5. Mo Girach left the Trust on 31 May 2023.

  6. Rajiv Jaitly and Dipti Amin left the Board on 14 June 2023.

  7. Dr Lise Llewellyn joined on 15 June 2023.

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  1. Elaine Siew joined on 03 October 2023.

  2. Nicola Frayne joined on 10 July 2023.

2.3. Professional advisors

Government Banking Services

Royal Bank of Scotland, 36 St Andrew Square, Edinburgh EH2 2YB

Investment Manager

Cazenove Capital Management Ltd, 1 London Wall Place, London EC2Y 5AU

Auditors

Ernst & Young LLP, 400 Capability Green, Luton LU1 3LU

Solicitors

Capsticks, 1, St George’s Road, Wimbledon SW19 4DR

3. Roles and responsibilities

3.1. Structure, governance and management of the Charitable Fund

The Charitable Fund was set up with a Declaration of Trust dated 29[th] January 1996 and was entered onto the Central Register of Charities on 21[st] February 1996. On 1[st] April 2011, by Statutory Instrument 2011 No. 253, the Charity officially accepted responsibility for activities formerly the responsibility of the Buckinghamshire Primary Care Trust Charitable Fund (number 1118390). The change of the Charity’s name to

Buckinghamshire Healthcare NHS Trust Charitable Fund in October 2012 reflects the extension of responsibilities of both the NHS Trust and the Charity.

The Charity is known as ‘an umbrella Charity’, which means that it is made up of a number of Charity subsidiaries and smaller charitable funds. Each of the subsidiary charities and smaller funds has its own objectives and fund holders but is subject to the overall governance of the main umbrella fund.

Details of the registered link charities within the group, their individual governing documents and objectives can be found on the Charity Commission website - https://www.gov.uk/government/organisations/charity commission

The main sources of income are donations, legacies and investment income. These monies are applied to enhance the services provided within the Trust for patients’ welfare, staff welfare, research and general charitable hospital purposes, in accordance with the

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objectives of the Charity and the wishes of the donors. The policy on income and expenditure is detailed in the financial procedure for the charitable fund.

The accounting records and day-to-day administration are handled by the charitable funds office within the Financial Services Department located at the Charity’s principal address shown on page 3.

The Charity has a single Corporate Trustee; The Buckinghamshire Healthcare NHS Trust Board. The Trust Board, as Corporate Trustee, is ultimately accountable for charitable funds donated to the Charity.

The Corporate Trustee and individual Trustees of Buckinghamshire Healthcare NHS Trust Charitable Fund are responsible for controlling the management and administration of the Charity and have a collective responsibility for the Charity. Trustees perform their duties taking into account statutory rules, Charity Commission guidance and the Charity Governance Code.

The Trustees have been appointed under section 11 of the NHS and Community Care Act 1990.The members of the NHS Trust Board who served during the financial year as Trustees and on the date of the Financial Statements approval are listed on pages 4 and 5 of this Annual Report.

The recruitment and induction of Executive Directors to the Board is undertaken in accordance with the policies of Buckinghamshire Healthcare NHS Trust, which is also responsible for remuneration.

Non-Executive Directors are appointed, and their level of remuneration set, by the NHS. During the financial year 2022/23, no director was paid any remuneration or expenses from the Charity in relation to the activities undertaken as the Charity’s Trustee.

The NHS Trust Board as Corporate Trustee has devolved responsibility for on-going management of funds to The Charitable Fund Committee. The Committee administers the funds on behalf of the Corporate Trustee and provides advice and recommendations to the Board.

The Committee must approve, on behalf of the Corporate Trustee, all income and expenditure over £50,000 with an upper limit of £100,000. The Corporate Trustee approves sums exceeding this limit. The membership of the Committee consists of two Non-Executive Directors (one of whom acts as the Chair), four Independent Members and the Chief Finance Officer.

Figure 1: Charitable Fund Committee (CFC) Members on the date of the Financial Statements approval, and during this financial year

Name Trust position title See note

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Nicola Gilham CFC Chair / Non-Executive Director
John Lisle Non-Executive Director
Barry Jenkins Chief Finance Officer 4
Kishamer Sidhu Interim Chief Finance Officer 4
Jon Evans Chief Finance Officer 4
Les Broude Honorary Independent Member for donors
Mike Mackenzie Honorary Independent Member for patients 2
Brian Roberts Honorary Independent Member for patients 3
Maria Earley Honorary Independent Member for the
interest of the staff
Dr Nana Theodorou Honorary Independent Member for the 1
interest of the medical/clinical activities

The Charitable Fund Committee changes that took place during this financial year (2022/23) and by the date of the Financial Statements approval:

  1. Dr Nana Theodorou, Honorary Independent Member for the interest of the medical/clinical activities resigned in May 2022.

  2. Mike Mackenzie who passed away in October 2022

  3. Brian Roberts appointed 27 January 2023, resigned 24 November 2023

  4. Barry Jenkins left his role as Chief Finance Officer on 27 November 2022. Kishamer Sidhu joined the CFC on 28 November 2022 as Interim Chief Finance Officer in his place until 17 July 2023 when Jon Evans joined as Chief Finance Officer.

The Chair and the other Charitable Fund Committee members expressed their

appreciation for the work and support on the Committee Mike Mackenzie, Nana Theodorou and Brian Roberts. In particular, they noted the long service to the Charity by Mike Mackenzie who sadly passed away in 2022.

The Charitable Fund Committee may delegate authority to commit expenditure but cannot delegate accountability.

This Committee is responsible for ensuring that charitable funds are administered in accordance with donors’ wishes and legislation. This involves the preparation of policies

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and procedures for the control of charitable income, investments and expenditure, and ensuring compliance with these policies. Trust staff provide the management and administration of the Charity’s activities and an appropriate management charge is made. The Charitable Fund Committee has responsibility for reviewing planned and actual expenditure on an on-going basis. The Trustee also confirms that it has paid due regard to the Charity Commission’s guidance on public benefit and the objectives of the Charity, as explained on page 12, in deciding which activities the Charity should undertake.

The Chief Finance Officer is responsible for the day to day management and control of the administration of the charitable funds and reports to the Charitable Fund Committee. The Chief Finance Officer has particular responsibility for ensuring that the spending is in accordance with the objectives and priorities agreed by The Charitable Fund Committee and the Board; that the criteria for spending charitable monies are fully met; that full accounting records are maintained and that devolved decision making or delegated arrangements are in accordance with the policies and procedures set out by the Board as the Corporate Trustee.

Within the Charity there are a number of designated funds relating to particular areas. The Charity manages spending through the divisional and individual fund holders who are allocated part of the total budget to spend in accordance with agreed authorisation limits. Fund holders for each of the designated funds manage these funds on a day-to-day basis within the Trust’s Standing Orders and Standing Financial Instructions and powers of delegated authority set by the Corporate Trustee (the Board of Buckinghamshire Healthcare NHS Trust). The Trustee oversees the work of the fund holders and has the power to revoke a fund holder’s remit and/or direct the use of funds, subject to any specific donor restriction.

The Charity ensures that its governance arrangements are appropriate and effective by:

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On 31 March 2023, the Charity constituted 194 active funds (2022: 196); of these 4 of the funds in the year or at year-end were endowments, 114 unrestricted and 76 restricted.

Additional details on the material funds are provided in note 12 on page 54.

3.2. Trustee induction and training

Directors’ and Non-Executive Directors’ training and performance reviews are undertaken with reference to their role within the Trust and also by attending various NHS Charities events.

As part of their induction programme, new Executive Directors, Non-executive Directors and Independent Members of Buckinghamshire Healthcare NHS Trust are made aware of their responsibilities as Board Members of Buckinghamshire Healthcare NHS Trust and as the Corporate Trustee of Buckinghamshire Healthcare NHS Trust Charitable Fund. Ongoing updates and information will be addressed via Board development days and receipt of the annual reports and accounts in relation to the Charity.

The Charity has no specific requirement or procedure in place for the induction or training of Directors on Charitable Fund issues. However, the Board is informed regarding the activity of the Charitable Fund Committee in Board meetings as needed and the Charitable Fund Committee is updated regarding any regulation, guidance, policy or procedure during meetings, as appropriate.

As part of Governance; a “Board Induction Pack” with general information and guidance suggested by the Charity Commission was developed and is presented to the Board members when they start their engagement with the Trust and the necessary updates are provided during the annual induction day. Additionally, as part of the Trust Board’s planning cycle, a Charity Trustees’ training session has been agreed.

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3.3. Charitable Fund Risk Management Policy

The Trust Board as Corporate Trustee is responsible for the Charity’s risk management and the effectiveness of internal control systems; the policy was reviewed during the year. The Trust Board and Charitable Fund Committee reviews major risks and the Trust’s Audit Committee works to ensure that reasonable measures are taken to manage these risks.

The Charity risk assessment was completed in March 2022 using the Charity Commission ‘Charities and Risk Management’ guide and approved by the Committee in May 2022. The assessed risks were included in the Charity’s risk register. No risks were assessed to be high. Risk was reviewed regularly during the year and reported to the Committee.

The Charitable Fund’s strategy for managing its risk is to:

The Charitable Fund Committee review reports from internal and external audit undertaken across key operations of the Charity and its risks.

The internal audit review takes place every three to five years. Should new risks be identified provision exists for internal audit review.

The Audit Committee and Charitable Fund Committee meet with the external auditors on a regular basis to discuss findings and risks that the Charity could face. This information and recommended actions are presented to the Trust Board. These processes provide the Trust Board with the assurance that internal controls and risks are monitored by management.

3.4. Financial risk management

The Charity’s activities expose the organisation to credit risk, market risk and liquidity risk.

The Charity’s financial activities are governed by policies approved by the Charitable Fund Committee and the Trust Board and these activities are directly supervised by the Chief Finance Officer, Senior Finance Managers and the Procurement team.

The principal financial assets are bank balances, investments, and receivables. Liquidity risk is mainly attributable to bank balances and these are well controlled.

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A number of our investments are subject to market activities. In order to mitigate the risk of fluctuating asset values the Charity adopts a well-defined investment policy which establishes a well-diversified investment portfolio. The Charity uses a professional investment manager, Cazenove Capital Management Ltd, to manage the portfolio. Gains and losses, both realised and unrealised, are allocated to the individual funds. This allows the fund holders to use the funds to maximum advantage, while preventing them from being over-committed due to a fall in market conditions. The investment policy defines the approach to ethical investment and climate change and the Charity reviews the composition of the portfolio and the impact of the policy on valuation.

The funds, and individual accounts, are carefully monitored and expenditure is only permitted when it is seen that an account has sufficient funds to support expenditure in accordance with its objectives.

The financial risk management for the Charity, including the risk of fraud, is included within the overall risk management processes embedded within Buckinghamshire Healthcare NHS Trust.

The Charity states in its policies detailed expenditure rules regarding how funds can and should be used. These are subject to regular review.

The public’s support of the NHS was demonstrated through increased donations during the COVID-19 pandemic, particularly the national emergency appeal managed by NHS Charities Together. The Charity is moving to online donations via its website and contactless donations.

The Trustee has considered the risks that the Charity faces and confirms that the organisation has a strong balance sheet and reserves to maintain the operations. It also has the appropriate systems, procedures and policies in place to ensure that these risks are mitigated and managed.

3.5. Relationships with related parties and external bodies

During the financial year none of the Trustees or members of the key management staff or parties related to them has undertaken any material transactions with the Buckinghamshire Healthcare NHS Trust Charitable Fund.

Board Members (and other senior staff) take decisions both on charity and exchequer matters but endeavour to keep the interests of each discrete and do not seek to benefit personally from such decisions.

All grants made are to Buckinghamshire Healthcare NHS Trust to support the activities relating to Buckinghamshire Healthcare NHS Trust in line with the objectives of the Charity.

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3.6. The role and contribution of volunteers

Buckinghamshire Healthcare NHS Trust is fortunate to receive support from a number of both individual and group volunteers.

The Charity supports some of the volunteers’ activities in order to emphasise all the benefits to the patients and staff that volunteers bring to our organisation. The Charity has approved grants to support the volunteers’ travelling expenses, meal and beverage vouchers and volunteer events.

Like all charities, the Charity is reliant on a team of volunteers for its smooth running. Our volunteers perform two roles:

  1. Fund Managers – There are about 133 Buckinghamshire Healthcare NHS Trust staff who support the Charitable Fund Committee to decide how the Charity’s funds should be spent. They are staff members with a reasonable level of responsibility and have delegated authority to make spending decisions within the ward/department where the charitable fund is allocated.

  2. Fundraisers – The fundraising activities are small, but increasing are often organised directly by independent parties in order to support the activities of a particular department or ward or the general activities of the Trust for the benefit of the patients.

In accordance with the SORP, due to the absence of any reliable measurement basis, the contribution of these volunteers is not recognised in the accounts.

4. Objectives, public benefit, mission, aims, and strategy

4.1. Objectives

The objectives of the Charity fall within the category of ‘the advancement of health or saving lives’ as defined within the Charities Act 2011 as amended by the Charities Act 2016.

The objective of Buckinghamshire Healthcare NHS Trust’s main Charity fund is listed in its governing documents as ‘The Trustee shall hold the trust fund upon trust to apply the income and, at its discretion, so far as may be permissible, the capital, for any charitable purpose or purposes relating to the National Health Service’.

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4.2. Public benefit

The Charity’s public benefit is to support patients and their families that are/were treated by Buckinghamshire Healthcare NHS Trust and additionally to support Buckinghamshire Healthcare NHS Trust’s staff and its research projects in order to improve health care.

The Trustee had due regard to the Charity Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant and when reviewing Buckinghamshire Healthcare NHS Trust Charitable Fund’s objectives and aims. The Charitable Fund’s objectives have a direct relationship to this public benefit. Therefore, the Trustee is satisfied that these aims do not have an unfavourable effect outside of the Charity’s activities and comply with the public benefit parameters established by the Charity Commission.

The needs of patients are evaluated through the assessment of Trust staff, ward and departmental managers.

4.3. Vision and mission

The Trust’s vision is to provide outstanding care, create healthy communities and make Buckinghamshire Healthcare NHS Trust a great place to work.

Outstanding care that is compassionate and inclusive and delivers the best possible outcomes in the most efficient way. People deserve nothing less. Healthy communities where we play our role in communities to support people to live independent healthy lives at home. A great place to work that is inclusive and compassionate. A workplace that learns and improves together and values the health and wellbeing of our colleagues because we know happy, healthy people deliver the best care.

To deliver the vision, the Trust has three strategic priorities:

The Trust’s mission is what we do every day at work to deliver personal and compassionate care every time.

The Trust’s vision and mission are underpinned by our CARE values of Collaborate, Aspire, Respect and Enable that help to define our beliefs and set expectations of how we behave as colleagues working for Buckinghamshire Healthcare NHS Trust.

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Figure 2: The Trust’s CARE values – Collaborate, Aspire, Respect, and Enable

The Charity supports the Trust in achieving its mission, vision and strategic aims to the extent that the Charity formally adopts them, as appropriate and allowed, within its own objectives. The Charity supports projects and purchases which focus on these priorities.

4.4. Aims

The Charity aims to maximise its contribution to Buckinghamshire Healthcare NHS Trust by funding additional equipment, sponsoring research or innovative projects and to make our hospitals more comfortable and welcoming. It also supports the staff of the Trust by providing financial support to staff amenities and health and wellbeing projects.

The Charity aims to use its financial resources in a timely way to maximise the contribution outlined above. Its financial resources should not be accumulated or held over a significant period without a specific plan to utilise them. As part of the forward view, the Charity will need to ensure it meets this aim.

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4.5. Strategy

The Charity's overall strategy is to continue to provide enhancements to the Trust's strategic priorities for the medium to long term. To be able to achieve this aim it retains sufficient resources to provide financial support on a sustainable basis and works closely with Trust staff so that patient priorities are understood.

It offers support in three broad areas. It provides medical equipment that will have a direct impact on patient care and that would otherwise not be available. It also invests in the facilities that make a difference to the delivery of patient care within the Trust's premises. It will continue to support development of staff and processes to improve productivity and to assist the Trust to provide a well-trained and highly motivated workforce.

The Charity supports the success of this strategy by selecting the right projects to prioritise these objectives.

Apart from low value expenditure below a set threshold, expenditure is subject to a formal bid process which establishes the benefits clearly and the elements for successful delivery. Projects are reviewed at the Charitable Fund Committee to ensure benefits have been delivered.

5. Activities, achievements, and performance

A variety of projects benefiting the Trust’s patients, visitors and staff have been funded by the Charity. Some of the main projects of the year under review include:

5.1. Patient welfare and amenities

A total of £1,682,000 (2021/22: £780,000) has been invested in Patient Welfare and Amenities.

Making grants and sponsoring projects related to enhancing patient wellbeing and care is the most direct way the Charity can fulfil its charitable objectives and the Charitable Fund Committee members have prioritised expenditure in this area. This category of charitable expenditure covers the purchase of medical equipment, the cost of projects which improve patient care and monitoring and improving the hospital facilities and furnishings.

Funds were invested in new medical equipment during the year for the benefit of patients. The most significant project in 2022/23 was robotic theatres funded by the Charity and Scannappeal, the first robots used for surgery by the Trust.

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The Charity also invested to enhance the care provided to the patients of Buckinghamshire Healthcare NHS Trust and the environment of the hospital, these included feature panels in the Burns Unit and info slices in the new Children’s Department.

5.2. Staff welfare and amenities

A total of £155,000 (2021/22: £110,000) has been spent on Staff Welfare and Amenities.

The Trustee fully supports the view that a healthy and motivated workforce is a more effective workforce and there is a real benefit to patient care. Therefore, the Charity has continued to support staff initiatives such as the workforce analyst to assist with Covid 19 responses. This position has the responsibility of assessing the impact that COVID-19 has had on the Trust’s staff in terms of both physical and psychological health, with a particular emphasis in the Black and Asian Minority Ethnic (BAME) colleagues. The post has helped the Trust to make suitable recommendations to various functions within the Trust (for example Occupational Health, Infection Prevention and Control Team, Senior Managers etc). The Charity has also supported a counsellor and an allyship role. These roles were pilots that proved their effectiveness and are now supported by the Trust

The Charity invested in different projects that were established to support our staff as we emerged from the Pandemic. Some of the highlights include:

Additionally, the Charity has invested, and supported activities aimed at improving individual and team morale, through Trust-wide and departmental staff awards for excellent patient care (CARE Awards).

5.3. Research

A total of £107,000 (2021/22: £165,000) has been invested in research during 2022/23.

The active research studies were aimed to improve patients’ quality of life. Some of the research studies supported by the Charity during the year under review include:

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Research grant holders are required to provide an annual report explaining the course and outcome of their work. This is reviewed by the Trust’s Research & Innovation Department and a summary report is submitted to the Charitable Fund Committee. These performance reports require that the number of publications and the number of presentations to national and international meetings is indicated.

5.4. Training and education

In 2021/22 £7,000 was spent on staff training and development, this figure was nil in 2022/23 due to fewer face to face courses as a result of the pandemic.

The Charity continues to play a significant role in the development of staff within the Buckinghamshire Healthcare NHS Trust. Support can be provided to facilitate a variety of activities including conferences, workshops and individual training and continues to enhance broad personal development and has improved skills directly related to patient care.

5.5. Other activities

A total of £198,000 (2021/22: £1,000) has been spent on other charitable activities. This category includes small miscellaneous transactions.

Additional details about all projects are shown in note 19 on page 61.

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5.6. Charity performance

Figure 3: Summary of the Charity’s performance in the 2022/23 financial year

Activities Result
Patients’ wellbeing Achieved
To support patients and their families that are treated by
Buckinghamshire Healthcare NHS Trust, ensuring that they have
access to the best possible treatment and care.
Staff health and wellbeing Achieved
The Charity planned to support the Trust with health and wellbeing
activities which have been shown to improve staff morale and lower
levels of sickness.
Staff training Achieved
The Charity planned to support the training and development of staff.
Research programmes Achieved
Continue with the development of the Charity’s research programmes,
its activities and medical staff in order to improve the scope of
successful treatments.
Governance Achieved
Assess the progress achieved through the funding of projects and
communicate this efficiently to the public.
The activities of the Charity are published on the Annual Trustee’s
Report and website.
Governance Ongoing
Restructuring and Consolidating the Trust’s Charitable Funds in order
to make its use more effective and efficient. This was agreed in
2022/23 and updated in 2023/24.
Governance Achieved
Updated information about the Charitable Fund’s activities, governance
and fundraising events is available on the Charity’s website and on the
Trust intranet.

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Annual Report and Accounts 2022/23

5.7. Legacies

We have been very fortunate to have people remembering Buckinghamshire Healthcare NHS Trust by leaving a gift in their Will; income from legacies is a vital source of funding to continue with actual and future activities in order to benefit patients, staff and research.

The Trustee is extremely grateful for everyone who has thought of Buckinghamshire Healthcare NHS Trust Charitable Fund, contributing £1,842,000 (2021/22: £198,000).

If you would like to consider leaving Buckinghamshire Healthcare NHS Trust a gift in your will, please get in touch with the Head of Charities at Buckinghamshire Healthcare NHS Trust, Finance Department, Whielden Street, Amersham, Buckinghamshire, HP7 0JD. Telephone: 01494 411 700.

6. Financial summary

6.1. Review of finances

The following financial statements have been prepared in accordance with the requirements of the Charities Commission Statement of Recommended Practice (FRS 102 SORP 2019) – Accounting and Reporting by Charities.

The statement of financial activities shows that Buckinghamshire Healthcare NHS Trust Charitable Fund received income from donations, legacies, investments and other income amounting to £3,555,000 (2021/22: £627,000).

6.2. Investment policy and performance

The Trustee invests the charitable funds donated to them whilst proposals to utilise and expend these funds are formulated and executed. It is not the Trustee’s primary aim to accumulate funds. Accordingly, a portion of the total funds are held back as working capital with the rest constituting the portfolio invested, which is the subject of the Investment policy. The policy is available from the Trust board on request.

The individual charitable funds are ‘pooled’ so that each fund is not separately invested, and no specific policy is applied to each fund. The rate of return allocated to each fund is a proportion of the total return achieved on the investments, based on the total value of the funds. This minimises the risk to each fund as the investment portfolio is well diversified, rather than individual funds being exposed to the volatility of returns on individual investments.

The Trustee directors aim to maintain the real term value of the capital over the medium term, although they will be prepared to realise capital gains if achieved and if there is a bona fide charitable purpose for them. Funds available for normal charitable expenditure will, therefore, be drawn from on-going donations, interest from investments that is surplus

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Annual Report and Accounts 2022/23

to administrative expenditure and modest realisation of capital gains. One-off reductions in investment capital can occur, on a case-by-case basis, for fund eligible major capital The annual investment income and the projected annual yield at the end of this financial year adhered to the performance expectations and thresholds established in the Investment Policy.

As at 31 March 2023 the fund investments, representing most of its unspent income, were valued at £8,010,000 (2021/22: £8,442,000). The investments, objectives and level of reserves are reviewed by the Trustee annually. During 2022/23 the value of the invested funds experienced a decrease of £430,000 (2021/22: increase of £33,000).

Investment performance is monitored by the Charitable Fund Committee by reviewing regular reports from the investment managers. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

The significance of financial instruments to the ongoing financial sustainability of the Charity is considered in the risk analysis section of the annual report. The main risk from financial instruments lies in the combination of uncertain investment markets and volatility in yield. Due to ‘quantitative easing’ and the market favouring lower risk investments, the yield on bonds has been low giving rise to a significant downside risk of a fall in capital values when interest rates return to normal levels.

The Charity’s investments are mainly traded in markets with good liquidity and high trading volumes. The Charity has no material investment holdings in markets subject to exchange controls or trading restrictions. The Charity manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes.

The investment manager provided some indication of the potential falls based on some far reaching “market” assumptions. The forecast income in March 2023 was estimated at £140,000 per annum.

6.3. Reserves

Free reserves are defined as the level of reserves available after deducting endowment, restricted and designated funds from the Charity’s total funds. These funds are available to be spent on any purpose. They can be utilised to cover any unforeseen circumstances and to ensure smooth running of the Charity. Having an agreed level of reserves allows for the fact that the Charity’s income streams may be uncertain in timing and so allow Charity activities to continue in circumstances where income is received unevenly over a period of time.

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Annual Report and Accounts 2022/23

The level of reserves should be regularly evaluated to ensure that they could allow for a change in the activities of the Charity to take place or to facilitate the closure or discontinuance of some or all of the charity’s activities. The level of reserves has been set at a level of six months’ estimated commitments for all funds in the forthcoming year. This reflects a change in reserves policy from three months to six months. This is considered both reasonable and prudent.

Six months’ anticipated expenditure was estimated at £362,000 at 31 March 2023. The Charity’s level of reserves, less existing commitments, was £585,000 at the same date. The level of free reserves defined above has therefore been evaluated in the light of existing and likely future commitments in 2023/24 and as such is deemed by Trustees to be appropriate.

6.4. Grant making policy

All grants made are to Buckinghamshire Healthcare NHS Trust to support the activities relating to the Trust in line with objectives of the Charity. For example, the Charitable Fund does not directly employ the staff working on Charitable funded activity; grants are made to Buckinghamshire Healthcare NHS Trust to employ those staff.

The Charity has considered each bid for funding on its own merits and has worked independently of the Trust decision-making.

The Charity does not enter into any contractual arrangement for the approved grants. The grants approved have been recognised on the balance sheet and/or SOFA to the extent to which the project has been delivered and the commitments for these grants are shown in note 19 on page 61.

Two restricted funds were established in order to manage the expenditure of the projects that are being subsidised with the funding received from the grant applications submitted to NHS Charities Together. The remaining funding of these grants will be spent during 2023/24. We expect to continue to receive money from NHS Charities Together as they develop their fundraising strategy.

6.5. Fundraising

Buckinghamshire NHS Trust Charitable Fund is registered with the fundraising regulator and all fundraising is carried out in accordance with the Code of Fundraising Practice. During the 2022/23 financial year we sought advice from an external organisation on our fundraising. This organisation assisted us to develop our plans for future fundraising, in accordance with a fundraising agreement. In 2023/24 we now have a Fundraising Manager as part of the charity team and no longer use any external advisers.

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6.6. Governance

The Charity Governance Code was updated in 2020. The code is not statutory legislation but represents a standard of good practice to which all charities should aspire. The code requests that charities should either apply the standards of the code or explain how they are going to apply them in the future. The Charity has reviewed the code and is progressing with an action plan to enhance its governance. It will continue to use the code as a tool to achieve the highest standards of good governance.

6.7. Consolidation of accounts

HM Treasury has concluded that in compliance with International Accounting Standard 27, the financial position and results of NHS charities should be consolidated into the accounts of the related NHS body, wherever that NHS body is the Corporate Trustee of the Charity and therefore has the power to control and benefit from the Charity which it administers as Corporate Trustee. NHS Charities remain independent and Charity law requires that Trustees act in accordance with the Charity's purposes and in the best interests of the Charity and its beneficiaries and do not act on the policies or directions of any other body. Therefore, when the Corporate Trustee considers the affairs of the Charity, although it does have control over those affairs, it is required to make decisions solely in the interest of the Charity and its beneficiaries and not in the interests of the NHS Trust.

Consolidation is only required where the figures are material to the accounts of the NHS body. In the case of Buckinghamshire Healthcare NHS Trust, the NHS body is the Corporate Trustee of the Charity, and the financial result from the Charity during this financial period was considered to be material to the accounts of the NHS body, and therefore the Charity figures were consolidated within the accounts of this body.

It remains the case that the funds of the Charity can only be used for charitable purposes.

7. Plans for the future

As we continue to work with our Business and Fundraising Strategies (2021-2026) it is our aim to continue the support to the Trust in order to enhance the services that are provided and to improve the experience of patients, families, staff and the wider community served by Buckinghamshire Health Care NHS Trust’s hospitals.

The Charity is expecting an increase in demand upon funds in line with its objectives. As a consequence of the level of financial resources available to it, the Charity will be in a good position to meet its aim of maximising the contribution to the Trust.

In line with the Business and Fundraising strategies that were established and approved, the Charity has significant potential to increase its annual income levels, and as a consequence will have much more opportunity to become more ambitious regarding

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Annual Report and Accounts 2022/23

expenditure and support to larger scale projects. The Trust’s Charity will be able to actively seek to make funding decisions that will support and enable the overall strategic vision of the Trust.

The Charitable Fund retains sufficient resources to provide financial support on an ongoing basis; therefore the Charity will continue to provide enhancement to the Trust’s strategic priorities for the medium to long term and work closely with Trust staff so that patient priorities are understood.

The Charitable Fund Committee has already authorised funding towards the cost of projects in line with the objectives of the Charity which are expected to start in 2023. These projects are shown in note 19 on page 61. The Committee agreed these projects will bring a direct benefit to patients and allow the Charity to support the Trust in achieving its mission, strategy and objectives.

The Charity’s plan for the coming financial year is to continue with the support for:

  1. The patients and their families who are treated by Buckinghamshire Healthcare NHS Trust, providing them with access to the best possible treatment and care by purchasing medical equipment, funding projects which improve patient care and monitoring and improving hospital facilities and furnishings.

  2. The Trust with health and wellbeing activities which have shown to improve staff morale and lower levels of sickness.

  3. The development of staff within the Trust through a variety of activities including conferences, workshops and individual training.

  4. The development of the Charity’s research programmes, its activities and medical staff in order to improve the scope of successful treatments.

  5. Assessing the progress achieved through the funding of projects and communicate this to the public.

  6. Ensuring the review and update of governance, policies, internal controls and procedures in order to manage efficiently and effectively the Charity’s affairs.

  7. Developing a number of performance indicators to provide measurable objectives.

  8. Providing support to Fund Holders, Medical Staff, and all other colleagues to seek funding to enhance the services provided to patients

We are aware that we may have some challenges in 2023/24 due to inflation and current costs of living but we continue to deliver the Charity’s plan.

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Buckinghamshire Healthcare NHS Trsjst Charitsble Fund Annual Report and Account5 2022123 The Trust Board and Charitable Fund Committee consider that the Charity continues to comply with the Public Benefit requirement of its Charitable Activities. Signed on behalf of the Buckinghamshire Healthcare NHS Trust Name and role Signature Date Neil Macdonald Chief Executive 31.01.2024 Nicola Gilham Chair of the Charitable Funds Committee Jon Evans Chief Finance OffI￿r 31.01.2024 Page 24 of 71

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Annual Report and Accounts 2022/23

8. Financial Information, Statements and Notes

8.1. Statement of Trustee’s responsibilities in respect of the Accounts

The Trustee is responsible for preparing the Trustees' 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:

Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP FRS 102;

Make judgments and estimates that are reasonable and prudent;

State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of Buckinghamshire Healthcare NHS Trust Charitable Fund procedures. 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. The Trustee is responsible for the maintenance and integrity of the Charity's finances and any published information. The Trustee confirms to the best of its knowledge and belief it has compiled with the above requirements in preparing the accounts.

The Trustee is responsible for the maintenance and integrity of the Charity and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Buckinghamshire Healthcare NHS Trust Charitable Fund Annual Report and Accounts 2022123 Signed on behalf of the Buckinghamshire Healthcare NHS Trust Name and role Signature Date Neil Macdonald Chief Executive 31.01.2024 Nicola Gilham Chair of the Charitable Funds Committee J41kn_ Jon Evans Chief Finance Officer 31.01.2024 Page 26 of 71

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Annual Report and Accounts 2022/23

8.2. Independent Auditor’s Report

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF BUCKINGHAMSHIRE HEALTHCARE NHS TRUST CHARITABLE FUND

Opinion

We have audited the financial statements of Buckinghamshire Healthcare NHS Trust Charitable Fund (the ‘charity’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 “The Financial Reporting standard applicable in the UK and Republic of Ireland”.

In our opinion the financial statements:

give a true and fair view of the state of the charity’s affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Charities Act 2011.

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’s responsibilities for the audit of the financial statements section of our report below. 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 trustees’ 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 12 months from when the financial statements are authorised for issue.

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Annual Report and Accounts 2022/23

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the trustee’s ability to continue as a going concern.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained in the annual report.

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 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 the other information, we are required to report that fact.

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 where the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

the information given in the Trustees’ Annual Report is inconsistent in any material respect with the financial statements; or

sufficient accounting records have not been kept; or

the financial statements are not in agreement with the accounting records and returns; or

we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 25, the trustees are 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 trustees determine 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 trustees are 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 management either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.

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Annual Report and Accounts 2022/23

Auditor’s 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.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

• We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant are The Charities Act 2011 and all relevant employment laws in the United Kingdom;

• We understood how the Charity is complying with those frameworks by understanding the incentive, opportunities and motives for non-compliance, including inquiring of management and obtaining and reviewing documentation relating to the procedures in place to identify, evaluate and comply with laws and regulations, and whether they are aware of instances of non-compliance. We corroborated this through our review of board minutes and through the inspection of other information. Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures had a focus on compliance with the accounting framework through obtaining sufficient audit evidence in line with the level of risk identified and with relevant legislation.

• We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by understanding the potential incentives and pressures for management to manipulate the financial statements, and performed procedures to understand the areas in which this would most likely arise. Based on our risk assessment procedures, we identified manipulation of reported financial performance through improper recognition of revenue, and management override of controls to be our fraud risks.

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Annual Report and Accounts 2022/23

• Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Trustees, 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 trustees those matters we are required to state to them in an auditors' 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Ernst & Young LLP

Statutory Auditor

London

31 January 2023

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

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Annual Report and Accounts 2022/23

8.3. Statement of financial activities for the year ended 31 March 2023

Note
Unrestricted
Funds
£'000
Restricted
Funds
£'000
Endowment
Funds
£'000
Total at 31
March 2023
£'000
Total at 31
March 2022
£'000		 Note
Unrestricted
Funds
£'000
Restricted
Funds
£'000
Endowment
Funds
£'000
Total at 31
March 2023
£'000
Total at 31
March 2022
£'000
Income and endowments from:
Donations and legacies:
Donations
2
48
104
-
152
232
Legacies
2
1,779
64
-
1,843
198
Subtotal: donations and legacies
1,827
168
-
1,995
430
Charitable activities
1.2f,2
1,256
133
-
1,389
51
Other Tradingactivities
2
-
-
-
-
4
Investment income
2
69
100
2
171
142
Total income
3,152
401
2
3,555
627
Expenditure on:
Raising funds:
Fundraisingactivities
3,5
21
24
-
45
53
Investment management costs
3,5
23
5
-
28
36
Subtotal: raising funds
44
29
-
73
89
Charitable activities:
Patients' welfare and amenities
3,5,6
1,530
152
-
1,682
780
Staff welfare and amenities
3,5,6
62
93
-
155
110
Research
3,5,6
51
56
-
107
165
Trainingand development
3,5,6
-
(3)
-
(3)
7
Other
3,5,6
105
91
2
198
1
Subtotal: charitable activities
1,748
389
2
2,139
1,063

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Annual Report and Accounts 2022/23

Note
Unrestricted
Funds
£'000
Restricted
Funds
£'000
Endowment
Funds
£'000
Total at 31
March 2023
£'000
Total at 31
March 2022
£'000		 Note
Unrestricted
Funds
£'000
Restricted
Funds
£'000
Endowment
Funds
£'000
Total at 31
March 2023
£'000
Total at 31
March 2022
£'000
Total expenditure
3
1,792
418
2
2,212
**1,152 **
Net income/(expenditure) and net movement in funds
beforegains and losses on investments
1,360
(17)
-
1,343
(525)
Netgains/(losses)on investments
7
(144)
(255)
(5)
(404)
470
Net income/(expenditure)
1,216
(272)
(5)
939
(55)
Transfer between funds
13
-
-
-
-
-
Net movement in funds.
1,216
(272)
(5)
939
(55)
Reconciliation of Funds:
Total funds brought forward at 1 April 2022
3,832
5,337
106
9,275
9,330
Total fund carried forward at 31 March 2023
5,048
5,065
101
10,214
9,275

All income and expenditure resources relate to continuing operations.

The Charity has not recognised gains or losses other than those dealt with in the Statements of Financial Activities.

Comparative information for 2021/22 by fund type is shown in Note 24 on page 66.

The notes at pages 36 to 71 form part of these accounts.

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Annual Report and Accounts 2022/23

8.4. Balance Sheet as at 31 March 2023

Note Unrestricted
Funds
£'000
Restricted
Funds
£'000
Endowment
Funds
£'000
Total at 31
March 2023
£'000
Total at 31
March 2022
£'000		 Note Unrestricted
Funds
£'000
Restricted
Funds
£'000
Endowment
Funds
£'000
Total at 31
March 2023
£'000
Total at 31
March 2022
£'000
Fixed Assets:
Investments
7
3,436
4,495
79
8,010
8,442
Total Fixed Assets
3,436
4,495
79
8,010
8,442
Current Assets:
Stocks
8
-
-
-
-
1
Debtors
9
1,008
13
-
1,021
417
Cash at bank and in hand
10
767
751
22
1,540
665
Total Current Assets
1,775
764
22
2,561
1,083
Liabilities:
Creditors: Amounts fallingdue within oneyear
11
(163)
(194)
-
(357)
(250)
Net Current Assets
1,612
570
22
2,204
833
Total Assets less Current Liabilities
5,048
5,065
101
10,214
9,275
Total Net Assets
5,048
5,065
101
10,214
9,275
**Funds of the Charity: **
Expendable Endowment Funds
12
-
-
101
101
106
Restricted Income Funds
12
-
5,065
-
5,065
5,337
Unrestricted Income Funds
12
5,048
-
-
5,048
3,832
Total Charity Funds
5,048
5,062
101
10,214
9,275

The notes at pages 36 to 71 form part of these accounts.

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Buckinghamshire Healthcare NHS Trust Charftable Fund Annual Report and A￿UnIS 2022123 These accounts (Registered Charity number 1053113) were approved by the Trustees and signed on their behalf by: Name and role Signature Date Neil Macdonald Chief Executive 31.01.2024 Nicola Gilham Chalr of the Charitable Fund Committee CfilL-W , 31. l. V4 Jon Evans Chief Financial Officer 31.01.2024 Page 34 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

8.5. Statement of cash flows for the year ended 31 March 2023

8.5. Statement of cash flows for the year ended 31 March 2023 8.5. Statement of cash flows for the year ended 31 March 2023
Notes
2022/2023
Funds
£'000
2021/2022
Funds
£'000
Cash flows from operating activities
14
(159)
(616)
Net cash used in operating activities
(159)
(616)
Cash flows from investing activities:
Dividends and interest
7.3
171
142
Purchase of furniture and equipment
-
-
Proceeds from sale of investments
7.1
2,932
3,763
Purchase of Investment
7.1
(2,069)
(3,635)
(Increase)/Decrease in cash held in investment
-
-
Net cashprovided by investing activities
1034
270
Cash flows from financing activities:
Receipt of expendable endowment
-
-
Net cashprovided by financing activities
-
-
Change in cash and cash equivalents in theyear
875
(346)
Cash and cash equivalents brought forward
10
665
1,011
Cash and cash equivalents carried forward
10
1,540
665

The notes at pages 36 to 71 form part of these accounts.

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Annual Report and Accounts 2022/23

8.6. Notes to the Accounts

1. Accounting Policies

The following accounting policies have been consistently applied in dealing with items which are considered material in relation to the Buckinghamshire Healthcare NHS Trust Charitable Fund (the Charity’s) financial statements.

1.1 Accounting Convention

a) Basis of Preparation

The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at bid market value. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102 – effective 1 January 2019 / Charities SORP - FRS 102) and applicable UK Accounting and Financial Reporting Standards and the Charities Act 2011 as amended by Charities Act 2016.

The accounts have been prepared on the going concern basis which assumes the Charity will continue for the foreseeable future. The Trustee believes that there are no material uncertainties that call into doubt the Charity's ability to continue in operation.

The Covid-19 pandemic continues to affect the charity. Third parties fundraising activities seem to be resuming but not to pre-pandemic levels. There is a concern that the cost-of-living crisis may affect future giving. As a grant making charity with few on-going commitments, a reduction in the income will impact on the level of new grants that can be made in the short term rather than affecting the charity’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts.

Grants have been received from NHS Charities Together to fund work on the recovery from the pandemic.

b) Funds Structure

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor. Where the restriction requires the gift to be invested to produce income but the Trustee has the power to spend the capital, it is classed as expendable endowment.

Unrestricted income funds comprise those funds which the Trustee is free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include

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Annual Report and Accounts 2022/23

designated funds, where the donor has made known their non-binding wishes or where the Trustee, at their discretion, have created a fund for a specific purpose.

The Charity has four expendable endowments.

Further details of each fund are disclosed in note 12 on pages 54-55.

1.2 Income

a) All incoming resources are included in full in the statement of Financial Activities as soon as the following three factors are met:

b) Income from Donations

Donations are received from individuals.

c) Legacies

Legacies are recognised and accounted for when it is probable that it will be received. This will be once

The Charity has adopted a policy of discounting the value of legacies where:

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

The discount rate will be the prevailing rate in line with the Trust’s General Discount rate disclosed in the Department of Health Group Accounting Manual.

Material legacies which have been notified but not recognised as incoming resources in the Statement of Financial Activities are disclosed in note 15 on page 57.

d) Gifts in Kind

In all cases the amount at which gifts in kind are brought into account is either a reasonable estimate of their value to the funds or the amount actually realised. The basis of the valuation is disclosed in the annual report.

e) Charitable Activities

Grants Received

Grants are clearly identified and allocated in specific department funds to ensure that these funds are only used in the activities and terms stated in the grant applications.

Income from Charitable Activities

Supporting charges required in order to maintain additional services provided to the patients are deliberately set at a low level in order to cover related costs.

f) Other Trading Activities

There are no corresponding items for 2022/23 (2021/22 £Nil)

1.3 Expenditure

a) Expenditure is recognised when all of the following criteria are met:

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

When the Charity enters into a contract for the supply of goods or services, expenditure is recognised once the supplier of the goods or services has performed their part of the contract and the goods and services have been received by the Charity.

Grants are only made to related or third-party NHS bodies and non-NHS bodies in furtherance of the charitable objects of the funds held by the trust, primarily the patient benefit. Liability for unconditional grants is recognised when approval has been given by the Trustee and when the recipient has been notified. Where the Trustee pledges support for the cost of an on-going project, the costs are accrued within the Charity as the costs are incurred on the project.

All expenditure is accounted for on an accruals basis and it is allocated to the appropriate charitable activity.

b) Irrecoverable VAT

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

c) Allocation of Support Costs and Overheads

Overhead and support costs have been allocated as a direct cost or apportioned on an appropriate basis between Charitable Activities (refer to notes 3-6 on pages 4348). Once allocation, and/or apportionment of overhead and support costs including governance, has been made between Charitable Activities, the cost attributable to Charitable Activities is apportioned across those activities in proportion to total spend.

d) Raising funds

Costs of raising funds comprise only the investment management fees charged by Cazenove.

e) Charitable Activities

Costs of charitable activities comprise all costs incurred in the pursuit of the Charity's objectives and in line with SORP 2019 (FRS 102), also include governance costs for the Charity. Expenditure on charitable activities will be for the benefit of Patients, Staff, Research or Education. Throughout these accounts the term patients refers to patients and service users. The costs include the direct costs of the charitable activities together with governance support costs that enable them to be undertaken.

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

These costs comprise direct costs and apportionment of overhead and support costs as shown in notes 3-6 on pages 43-48.

f) Governance and Support Costs

Governance costs comprise all costs incurred in the governance of the Charity. These costs include costs related to statutory audit together with an apportionment of overhead and support costs as shown in notes 3-6 on pages 43-48.

Both governance and support costs are accounted for on an accruals basis and included within the direct costs of charitable activities and further details provided on the notes to the accounts. These governance and support costs are apportioned across the individual funds within the Charity on an average balance basis (so as to avoid disadvantaging funds with high volume, low value transactions).

1.4 Fixed Asset Investments

Fixed asset investments comprise Common Investment Funds and cash and are managed by Cazenove Capital Management Limited.

Investment fixed assets are shown at bid market value as at the balance sheet date.

1.5 Stocks

Stocks are valued at their face-value, which is their monetary value.

1.6 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (or cost at date of purchase if later). Unrealised gains and losses are calculated as the difference between market value at the year end and opening market value (or cost at date of purchase if later).

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

1.7 Changes in the Basis of Accounting

There has been no change in the basis of accounting during the year.

1.8 Cash Flow Statement

Large charities preparing their accounts under FRS102 – SORP 2019 must provide a statement of cash flows, which has been provided.

1.9 Income and Expenditure Allocation

Incoming resources and expenditure are allocated directly to individual funds. Each fund is classified as restricted, endowment or unrestricted and the balances accounted for accordingly. Where costs and income arise across all funds generally, they have been allocated to each fund proportionate to the average fund balance at each month end. This method has applied to Investment Income, Unrealised Gains, Governance and Administrative Costs.

1.10 Post Balance Sheet Events / Prior Year Adjustments

There are no post balance sheet events or prior year adjustments to be disclosed.

1.11 Pooling Scheme

The Charity has an official pooling scheme for investments. This scheme was registered with the Charity Commission on the 10 June 1998. The scheme registration number is N215(S)/98.

1.12 Related Party Transactions

Buckinghamshire Healthcare NHS Trust is the main beneficiary of Buckinghamshire Healthcare NHS Trust Charitable Fund. The remainder of expenditure goes to provide welfare and recreational facilities for its staff. Total funding paid to the Trust and its staff is detailed within Note 16. During the year, none of the members of the NHS Trust Board or Senior NHS Trust Staff or parties related to them were beneficiaries of the Charity.

No member of the NHS Trust Board has been paid or received any remuneration or other benefits in the year from the charitable fund and the Trustee has not purchased trustee indemnity insurance because their activities are covered under the general indemnity to the board of the trust.

No member of the NHS Trust Board or the Trustee has incurred expenditure in the year on behalf of charitable funds.

Details of Trust salaries and expenses reimbursed (Audit fees, overheads costs, and rent) from the charitable fund are provided in note 4 on pages 44-45.

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

2. Analysis of income

Analysis of income
Unrestricted Restricted Endowment Total Total
2022/2023 2021/2022
£'000 £'000 £'000 £'000 £'000
Material Incoming Resources:
Donations 48 105 - 153 232
Legacies 1,779 63 - 1,842 198
Charitable activities 1,256 133 - 1,389 51
Other tradingactivities 0 0 - 0 4
Investments 69 100 2 171 142
Other - - - - -
Total income 3,152 401 2 3,555 627

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

3. Charitable expenditure

Charitable expenditure Charitable expenditure
Unrestricted
£'000
Restricted
£'000		 Endowment
£'000
Total
2022/2023
£'000
Total
2021/2022
£'000
3.1 Raising funds:
Fundraisingactivities
21
24		 -
45
53
Investment management costs
23
5		 -
28
36
Total raising funds
44
29		 -
73
89
3.2 Charitable activities:
Patients' welfare and amenities
1,530
152		 -
1,682
739
Staff welfare and amenities
62
93		 -
155
100
Research
51
56		 -
107
156
Trainingand Development
-
(3)		 -
(3)
6
Other
-
-		 -
-
-
Total charitable activities
1,643
298		 -
1,941
1,001
3.2.1 Analysis of support andgovernance costs:
Salaries and wages
70
87		 2
159
52
Audit fee
23
1		 -
24
-
Professional fees and establishment costs
12
3		 -
15
10
Total support andgovernance costs
105
91		 2
198
62
Total charitable activities and support and governance
costs
1,748
389		 2
2,139
1,063
Total expenditure
1,792
418		 2
2,212
1,152

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

The Trust recharged the Charity £24,000 in 2022/23 for the external audit fee. This fee covered the external audits for 2021/22 and 2022/23. As a result, there is no prior year comparator for this amount.

There was no fee for an internal audit (2021/22: £Nil). The internal audit review takes place every three to five years. Should new risks be identified provision exists for internal audit review.

The increase in salaries and wages is due to the increased headcount to enable the charity to implement its business and fundraising strategies.

The salaries and wages include the fees of contracting two interim members of staff to provide support with the completion of the year end and the operational activities of the Charity.

4. Trust salaries and expenses reimbursed

Unrestricted Restricted Endowment Total Total
2022/2023 2021/2022
£'000 £'000 £'000 £'000 £'000
Salaries and wages 70 87 2 159 52
Audit fee 23 1 - 24 -
Professional fees and establishment costs 12 3 - 15 10
Total support andgovernance costs 105 91 2 198 62

4.1 Analysis of staff costs reimbursed

Analysis of staff costs reimbursed
Total Total
2022/2023 2021/2022
£'000 £'000
Salaries and wages 159 -
Total 159 -

Page 44 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Salaries, management and administration charges paid to the Trust in this financial year and recharged to the Charity totalled £198,000 (2021/22: £NIL). The expenditure recharges usually related to accommodation and IT support £12,000 (2021/22: £NIL); stationary £1000 (2021/22: £NIL); external audit fees £24,000 (2021/22: £NIL); other governance costs £3,000 (2021/22: £NIL) and finance staff and senior management costs £159,000 (2021/22: £NIL) .

The Charity does not directly employ staff members. There are two members of staff (2021/22: 2) who provide support services to charitable activities who is employed by Buckinghamshire Healthcare NHS Trust and the salary cost is recharged via an administration charge. The Charity fulfils its charitable objectives by providing financial support to projects, which are run by the NHS Trust. Therefore, the Trust employs staffs who deliver the projects.

Two interim members of staff were contracted to provide support with the completion of the operational activities of the Charity in 2022/23 and year end.

Members of the Board and the Charitable Fund Committee give their time freely and receive no remuneration for the work that they undertake in relation to the Charity.

Page 45 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

5. Analysis of charitable expenditure

Analysis of charitable expenditure Analysis of charitable expenditure
Unrestricted
£'000
Restricted
£'000
Endowment
£'000
Total
2022/23
£'000
Total
2021/22
£'000
Raising funds:
Fundraising general costs and fees
21
24
0
45
53
Investment management costs
23
5
-
28
36
Total raising funds
44
29
-
73
89
Activities
undertaken
directly
£'000
Grant
funded
activities
£'000
Support and
governance
£'000
Total
2022/23
£'000
Total
2021/22
£'000
Charitable activities:
Patients' welfare and amenities
-
1682
159
1,841
780
Staff welfare and amenities
-
155
24
179
110
Research
-
107
15
122
165
Training and Development
-
(3)
-
(3)
7
Other
-
-
-
-
1
Total Charitable activities
-
1,941
198
2,139
1,063

The only activity of the Charity is that of providing grants. All grants made are to Buckinghamshire Healthcare NHS Trust to support the activities relating to Buckinghamshire Healthcare NHS Trust in line with objectives of the Charity. The support costs are attributable to all the grants and not to a single activity.

Page 46 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

6. Appointment and allocation of support and governance costs

Funds
£'000
Support and
Governance Costs
£'000
Total
2022/2023
£'000
Total
2021/2022
£'000		 Funds
£'000
Support and
Governance Costs
£'000
Total
2022/2023
£'000
Total
2021/2022
£'000
Unrestricted:
Patients' welfare and amenities
1,530
70
1,600
146
Staff welfare and amenities
62
23
85
108
Research
51
12
63
47
Trainingand Development
-
-
-
3
Other
-
-
-
Unrestricted total
1,643
105
1,748
304
Restricted:
Patients' welfare and amenities
152
87
239
634
Staff welfare and amenities
93
1
94
2
Research
56
3
59
118
Trainingand Development
(3)
-
(3)
4
Other
-
-
-
-
Restricted total
298
91
389
758
Endowment:
Patients' welfare and amenities
-
2
2
-
Staff welfare and amenities
-
-
-
-
Research
-
-
-
-
Trainingand Development
-
-
-
-
Other
-
-
-
1
Endowment total
-
2
2
1
All funds:
All funds:

Page 47 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Funds Support and Total Total
£'000 Governance Costs 2022/2023 2021/2022
£'000 £'000 £'000
Patients' welfare and amenities 1,682 159 1,841 780
Staff welfare and amenities 155 24 179 110
Research 107 15 122 165
Trainingand Development (3) - (3) 7
Other - 0 0 1
Total 1,941 198 2,139 1,063

Support costs including governance activities, are allocated to expenditure on charitable activities based on the purposes of each fund across the main charitable activities of the Charity.

Page 48 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

7. Fixed asset investments

7.1 Movement in fixed asset investments

Total Total
2022/2023 2021/2022
£'000 £'000
Fixed Asset Investments
Market value at 1 April 2022 8,442 8,408
Less: Disposals at carryingvalue (2,932) (3,763)
Add: Acquisitions at cost 2,069 3,635
Netgains &(losses)on revaluation 430 162
Market value at 31 March 2023 8,009 8,442
Historic cost at 31 March 2023 7,530 7,602

Page 49 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

7.2 Market value at 31 March 2023

Market value at 31 March 2023
Held in UK Held Total Total
outside UK 2022/2023 2021/2022
£'000 £'000 £'000 £'000
Investments listed under Equities 533 4,030 4,563 5,522
Investments listed under UK Bonds 281 557 838 877
Multi-Asset Funds - - - -
PropertyFunds 777 - 777 888
Other 638 207 845 886
Interest on cash held on deposit 986 - 986 269
Total 3,215 4,794 8,009 8,442

7.3 Analysis of gross income from investments and cash on deposit

Held in UK Held outside Total Total
UK 2022/2023 2021/2022
£'000 £'000 £'000 £'000
Investments listed under Equities 23 45 68 78
Investments listed under UK Bonds 2 22 23 21
Multi-Asset Funds - - - -
PropertyFunds 32 - 32 31
Other 12 - 12 12
Cash held on deposit 35 - 36 -
Total 104 67 171 142

Page 50 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

The unrealised loss in 2022/23 was -£482,000 (2021/22: loss -£296,000). The realised gain in year is £71,000 (2021/22: gain £766,000). The unrealised loss made on investments was -£404,000 (2021/22: gain £470,000); which added to unrealised gain brought forward of £573,000; gives cumulative unrealised gains of £98,000.

The Charity does not hold individual investments, such as a particular equity, bond or property. Through its portfolio, which is administered by its investment manager, it purchases a share of equity, bond and property funds. The Charity has agreed a strategic asset allocation with the investment manager, but tactical positions are taken within the range agreed by the Trustee.

Investments within the portfolio are not linked to individual funds held within the Charity. The total return achieved in year is apportioned to the individual funds.

The Charity paid an explicit professional fee to the investment manager of £28,000 (2021/22 £36,000).

Current expectation in 2023 is for slowing global growth and inflationary pressures. This combined with continued monetary policy tightening could lead to significant volatility in the markets.

8. Stocks

Stocks
Unrestricted Restricted Endowment Total Total
2022/2023 2021/2022
£'000 £'000 £'000 £'000 £'000
Stocks - - - 0 1
Total - - - 0 1

Stocks comprise John Lewis vouchers held by the Charity. The vouchers are distributed as part of the CARE Awards scheme.

Page 51 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

9. Analysis of current debtors

Analysis of current debtors Analysis of current debtors
Unrestricted
£'000
Restricted
£'000
Endowment
£'000
Total
2022/2023
£'000
Total
2021/2022
£'000
Debtors under 1year:
Accrued income
15
-
-
15
7
Other debtors
993
13
-
1,006
410
Total
1,008
13
-
1,021
417

Current debtors are in relation to income due from donations from giving websites £6,000 (2021/22: £1,000); Gift Aid and Gift Aid Small Donation Scheme from HMRC £1,000 (2021/22: £1,000); dividends from the investment manager £6,000 (2021/22: £5,000); various legacies £811,000 (2021/22: £314,000);

prepayments £3,000 (2021/22: £11,000); re-charges to associated charities £193,000 (2021/22: £6,000); a reimbursement due from the Trust for £NIL (2021/22: £78,000); and VAT claim for £1,000 (2021/22: £1,000).

10. Analysis of cash and equivalents

Unrestricted
£'000
Restricted
£'000
Endowment
£'000
Total
2022/2023
£'000
Total
2021/2022
£'000		 Unrestricted
£'000
Restricted
£'000
Endowment
£'000
Total
2022/2023
£'000
Total
2021/2022
£'000
Cash and cash equivalents:
Bank
767
751
22
1,540
665
Total
767
751
22
1,540
665

No cash or cash equivalents or current asset investments were held in non-cash investments or outside of the UK.

Page 52 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

All of the amounts held on interest bearing deposit are available to spend on charitable activities.

11. Analysis of current creditors

Analysis of current creditors Analysis of current creditors
Unrestricted
£'000
Restricted
£'000
Endowment
£'000
Total
2022/2023
£'000
Total
2021/2022
£'000
Creditors under 1year:
Accruals
(163)
(194)
-
(357)
(250)
Total
(163)
(194)
-
(357)
(250)

Current creditors consists of £138,000 (2021/22: £32,000) to be paid to the Trust in relation to a reimbursement of various projects paid on behalf of the charity to enhance the services provided within the NHS Trust for patients’ welfare, staff welfare, research and general charitable hospital purposes, in accordance with the objectives of the Charity and the wishes of the donors.

This also refers to general creditors accruals of £75,000 (2021/22: £34,000) to be paid for other projects, Deferred Income of £128,000 (2021/22: £176,000) and £16,000 (2021/22: £8,000) related to agency fees for interim members of staff that were contracted to provide support with the operational activities of the Charity and the control and reporting of the NHSCT Stage 2 grants received.

Page 53 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

12. Analysis of funds

Analysis of funds Analysis of funds
Balance at
31 March
2022
£'000
Incoming
Resources
£'000
Resources
Expanded
£'000
Transfers
£'000
Investment
Gains /
(Losses)
£'000
Balance at 31
March 2023
£'000
12.1 Endowment Funds:
Material Funds:
Piercy – Capital Fund, the Interest to be
donated to ScanAppeal
41
1
(1)
-
(2)
39
Biggins – Capital Fund, the income from which
can be used for any purpose
31
1
(1)
-
(2)
29
Kemp – Capital Fund, the income from which
can be used for any purpose
26
-
-
-
(1)
25
Raven – Capital Fund, the income from which
can be used forprizes for Nurses
8
-
-
-
-
8
Total
106
2
(2)
-
(5)
101
12.2 Restricted Funds:
Material Funds:
Spinal Injuries Children – To benefit the
activities related to the hospital's spinal children
injuries work
1,524
29
(36)
-
(74)
1,443
Spinal Amenity – To benefit the activities related
to the hospital's national spinal injuries centre
1,011
116
(32)
-
(48)
1,047
Masson Legacy for Spinal Research – To
benefit the research activities related to the
hospital's national spinal injuries centre
539
10
(13)
-
(26)
510
Diabetes Centre – For investigation of causes
and treatment of diabetes
385
10
(9)
-
(19)
367

Page 54 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Balance at Incoming Resources Transfers Investment Balance at 31
31 March Resources Expanded Gains / March 2023
2022 £'000 £'000 £'000 (Losses) £'000
£'000 £'000
Breast Cancer Research – To benefit the
research activities related to breast cancer		 304 6 (7) - (15) 288
Spinal Injuries Research – For the provision of
research related to spinal injuries		 296 5 (23) - (14) 264
Coronary Research – To benefit the activities
related to the hospital's coronarycare services		 223 4 (5) - (11) 211
Medtronic Export Research Fund – To benefit
the activities related to the hospital's coronary 112 2 (3) - (5) 106
research
Diabetic Research Fund – To benefit the
activities related to the hospital's diabetic 104 14 (2) - (5) 111
research unit
Intensive Therapy Unit – To benefit the activities
related to the hospital's intensive care services		 101 3 (38) - (5) 61
Spinal - Powered Wheelchairs – For the
provision of powered wheelchairs at the national 99 1 (35) - (4) 61
spinal injuries centre
Plastic Surgery – To benefit the activities
related to the hospital'splastic surgeryservices		 80 1 (23) - (3) 55
Pharmacy Trust Wide, Research & Equipment
Fund – For the pharmacy department in 61 1 (1) - (3) 58
connection with research and equipment
Carl Todd Oncology – To benefit the activities
related to the hospital's oncologyservices		 52 1 (1) - (3) 49
Coronary Care – To benefit the activities related
to the hospital's coronarycare services		 44 1 (1) - (2) 42
Children Unit Fund/Appeal 4 62 - - - 66

Page 55 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Balance at
31 March
2022
£'000
Incoming
Resources
£'000
Resources
Expanded
£'000
Transfers
£'000
Investment
Gains /
(Losses)
£'000
Balance at 31
March 2023
£'000		 Balance at
31 March
2022
£'000
Incoming
Resources
£'000
Resources
Expanded
£'000
Transfers
£'000
Investment
Gains /
(Losses)
£'000
Balance at 31
March 2023
£'000
Haematology – To benefit the activities related
to the hospital's blood services
37
1
(1)
-
(2)
35
Other funds
361
134
(188)
-
(16)
291
Restricted Funds total
5,337
401
(418)
-
(255)
5,065
12.3 Unrestricted Funds:
Unrestricted Funds total
3,832
3,152
(1,792)
-
(144)
5,048
Grand Total of Funds
9,275
3,555
(2,212)
-
(404)
10,214

Material funds are those with closing fund balances of over £35k.

On the 31 March 2023, the Charity was constituted of 194 active funds with balances (2022: 196); of these, four of the funds in the year or at year-end were endowments, 114 unrestricted and 76 restricted.

The general fund includes all donations for which a donor has not expressed any preference as to how the funds shall be spent and the unrestricted income accruing to the charity. These funds are applied for any charitable purpose to the benefit of the patients of BHT at the absolute discretion of the Trustee and in line with the established policy.

Page 56 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

13. Transfers between funds

Unrestricted Restricted Endowment Total Total
2022/2023 2021/2022
£'000 £'000 £'000 £'000 £'000
Fund 5006 – Buckinghamshire Hospitals NHS Trust Amenities
Fund - - - - -
Fund 5018 – Diabetic NursingFund - - - - -
Fund 2059 – Care of the Elderly (Prev Ward 2) - - - -
Fund 1023 - Wycombe General Hospital General Amenities Fund - - - - (13)
Fund 2034 - General AmenityStoke Mandeville Hospital - - - - (31)
Fund 3001 - Amersham Hospital General Amenities - - - - (5)
Fund 4001 - Marlow Hospital General AmenityFund - - - - (1)
Fund 5047 - Wycombe,Amersham & Stoke Pharmacy - - - - (13)
Fund 5049 - HardshipFund for Staff - - - - 50
Fund 2065 - PharmacyTrust Wide - Research & Equipment Fund - - - - 13
Total 0 0 0 0 -

This note is included for comparative purposes only.

Page 57 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

14. Reconciliation of net movement in funds to net cash flows from operating activities

Total Total
2022/2023 2021/2022
£'000 £'000
Net income / (expenditure) for 2022 / 2023
(as per the Statement of Financial Activities)		 939 (55)
Adjustments for:
Deduct interest income shown in in investingactivities (171) (142)
Deductgains / add back losses on investments (430) (162)
Decrease(increase)in stocks 1 (1)
Decrease(increase)in debtors (605) (78)
Increase(decrease)in creditors 107 (178)
Net cash used in operating activities (159) (616)

There were no financing activities during the year.

Page 58 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

15. Material legacies

Legacy income is only included in incoming resources where receipt is probable that it will be received and the amount is known with certainty, or the legacy has been received.

As at 31 March 2023, the charity has been notified of one significant charitable bequest that was not considered in the accruals:

Page 59 of 71

Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

16. Connected organisations

Connected organisations
Name of party involved, a description of the transaction and a Turnover Net Surplus Turnover Net Surplus
description of the nature of the relationship 2022/2023 / (Deficit) 2021/2022 / (Deficit)
£'000 2022/2023 £'000 2021/2022
£'000 £'000
The Board of Buckinghamshire Healthcare NHS Trust is the corporate trustee
of the charitable funds. The Trust's employees provide all management and
administrative support to the funds and a recharge is made for these. A
charge of £198,000 (2021/22: £62,000) was also made to cover audit fees, 602,850 -9,995 585,965 10,301
rent and other minor expenses incurred. Current creditors consists of
£138,000 (2021/22: £32,000) to be paid to the Trust in relation to a
reimbursement of various projects as mentioned in note 11.
Total 602,850 -9,995 585,965 10,301

Buckinghamshire Healthcare NHS Trust Charitable Fund has been consolidated into the Buckinghamshire Healthcare NHS Trust’s accounts in accordance with the International Accounting Standard (IAS) 27. This is because Buckinghamshire Healthcare NHS Trust Board is the Corporate Trustee of the Buckinghamshire Healthcare NHS Trust Charitable Fund and under the provision of IAS 27 those charitable funds that fall under common control with NHS bodies should be consolidated. However, the Charity and its assets remain independent.

The group annual report and accounts from Buckinghamshire Healthcare NHS Trust 2022/2023 can be - obtained at Our Trust Board Buckinghamshire Healthcare NHS Trust (buckshealthcare.nhs.uk)

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

17. Contingencies

There were no contingencies at 31 March 2023.

18. Material guarantees

There were no material guarantees at 31 March 2023.

19. Commitments, liabilities, and provisions

Key for
further
details		 Items not included
within SOFA or
Balance Sheet at 31
March 2023		 Items not included
within SOFA or
Balance Sheet at
31 March 2022
Capital £'000s £'000s
Real Time Patient Electronic Observations and Escalation
System		 69 69
WH-Nursery Refurbishment 41
Robotic Theatres 125 499
Resources for New Research and Innovation (R&I) Centre at
SMH		 4 4
Trust Intranet System 14
Occupational Health (OT) Powered Wheelchairs 34
Dermatoscopes 17
Olympus Microscope Model CX43 21
Legacy left to the Cardiology Department 25
Paxman Scalp Coolers and Replacement Scalp Packages 52
Capital Total 198 775

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Key for
further
details		 Items not included
within SOFA or
Balance Sheet at 31
March 2023		 Items not included
within SOFA or
Balance Sheet at
31 March 2022
Other £'000s £'000s
Compulsory Reserve 0 628
The R&I Hub 0 8
MSc in Stroke and Cardiology (Gill Clarke) at the University of
Hertfordshire		 0 1
NeuroMAP: The Evaluation of Neuronavigated Transcranial
Magnetic Stimulation for rapid corticomotor mapping of
impaired upper limb muscles in chronic spinal cord injury
(Navigated upper limb TMS mapping).		 0 47
NSIC Innovation Posts (Physio 0.5 WTE and Occupational
Health 0.5 WTE)		 0 15
Research project:
NeuroTESCS: Active transcutaneous electrical spinal cord
stimulation (TESCS) and peripheral stimulation for
rehabilitation of upper-limb function after cervical spinal cord
injury		 0 90
Covid-19 Staff Wellbeing Small Bids Project 4 6
Fixed term workforce analyst 0 51
Fixed term additional resource for Freedom To Speak Up
Guardian (FTSUG) – to be offered as secondments to existing
staff on a part-time basis		 0 9
Creative Arts Programme 0 91
Twelve Digita Morphology Licences for April 2022 to March
2023		 0 1
Post-COVID-19 Reflections & Learning - Team Day for the
Intensive Care Unit (ICU) at SMH		 0 5
Remaining 50% fee for Audit And Strategy Work - Fresh
Fundraising Ltd		 0 4
Lindengate Nature Connection Programmes 60 60
Staff Network Activities 0 10

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Volunteer Retention and Reward 19 21
Overseas Travel Hardship Fund 41 41
Fundraising costs contribution 0 57
Remaining 50% Fee for the Legacy Campaign - Fresh
Fundraising Ltd		 0 5
Restricted donations received to be used to purchase
equipment for the ICU at SMH		 0 3
Three Clearmaxx Papr Headtop Hoods and 6 E3000X Air
Hoses for the ICU at SMH		 0 1
Restricted donations received to be used for the ICU at SMH 0 1
Restricted donations received to be used by the Paediatrics
Diabetes Team (PDT)		 0 1
Restricted donations received to be used by the PDT 0 1
Donations for the St. Patrick's Ward within the NSIC 0 2
Memory & Information Processing Battery from The Brain
Injury Rehab Trust for the Buckinghamshire
Neurorehabilitation Unit (BNRU) at Amersham General
Hospital (AGH)		 0 1
Kind Tide-Development of the Charity's website 0 4
SubZeroStudio Ltd-Development of the Charity's website 0 3
Crosses for the Chaplaincy Service 0 1
Reflective Coating for the office windows for AGH Adult
Community Health Care Team (ACHT) - Rapid Response &
Immediate Care (RRIC)		 0 2
Phase 1 AGH Gardens Project 12 20
Covid Recovery Garden (Brookside)-Move & Re-Build 15 -
Feature Panel Installation to Patient Side Rooms 1 -
78th NSIC Anniversary-Foundation Day NSIC 3 -
Upgrade of RT300 FES Bikes and GIGER MD Recumbent
Arm & Leg Cycle (Used on St Frances Ward)		 42 -
BHT Emergency Domestic Support Fund 20 -
Gold Command Approved Winter Food Provision 36 -
Total Other 253 1190
Total Commitments 451 1965

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Apart from the fundraising audit and strategy work, the Charity has not entered into any contractual arrangement for the approved expenditure above.

The items have been recognised on the Balance Sheet and/or SOFA to the extent to which the project has been delivered.

Further details

20. Key assumptions and judgements

The charity accrues for items of expenditure which relate to the previous year where invoices have not been processed or received before the year end. However, should it be necessary, estimates are made in some instances where invoices have not been received based on activity and/or expenditure for the year to date. During this financial year no estimates in expenditure accruals have been made.

No significant judgements have been made in preparing the accounts. No key assumptions have been made regarding any sources of estimation uncertainty with a significant risk of causing a future material adjustment.

21. Disputes with other parties

There were no disputes, litigations or claims with other parties to report as at 31 March 2023.

22. Taxation

Buckinghamshire Healthcare NHS Trust Charitable Funds is a registered charity and as such benefit from certain exemptions from taxation on income and gains, to the extent that they are applied for charitable purposes.

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

23. Post balance sheet events

There were no post balance sheet events to report at 31 January 2024.

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

24. Comparative statement of financial activities

Unrestricted
Funds
£'000
Restricted
Funds
£'000
Endowment
Funds
£'000
Total at 31
March 2022
£'000
Total at 31
March 2021
£'000		 Unrestricted
Funds
£'000
Restricted
Funds
£'000
Endowment
Funds
£'000
Total at 31
March 2022
£'000
Total at 31
March 2021
£'000
Income and endowments from:
Donations and legacies:
Donations
211
21
-
232
104
Legacies
115
83
-
198
543
Subtotal: donations and legacies
326
104
-
430
647
Charitable activities
(10)
61
-
51
197
Other Tradingactivities
1
3
-
4
53
Investment income
55
86
1
142
183
Total income
372
254
1
627
1,080
Expenditure on:
Raising funds:
Fundraisingactivities
28
25
-
53
7
Investment management costs
16
20
-
36
25
Subtotal: raising funds
44
45
-
89
32
Charitable activities:
Patients' welfare and amenities
146
634
-
780
426
Staff welfare and amenities
108
2
-
110
277
Research
47
118
-
165
312
Trainingand development
3
4
-
7
5
Other
-
-
1
1
2
Subtotal: charitable activities
304
758
1
1,063
1,022
Total expenditure
348
803
1
1,152
**1,054 **

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

Unrestricted Restricted Endowment Total at 31 Total at 31
Funds Funds Funds March 2022 March 2021
£'000 £'000 £'000 £'000 £'000
Net income/(expenditure) and net movement in funds
beforegains and losses on investments		 24 (549) - (525) 26
Netgains/(losses)on investments 190 275 5 470 1,361
Net income/(expenditure) 214 (274) 5 (55) 1,387
Transfer between funds (13) 13 - - -
Net movement in funds. 201 (261) 5 (55) 1,387
Reconciliation of Funds:
Total funds brought forward at 1 April 2021 3,631 5,598 101 9,330 7,943
Total fund carried forward at 31 March 2022 3,832 5,337 106 9,275 9,330

The table above provides comparative information for the Statement of Financial Activities by fund type for 2021/22, together with totals for 2020/21.

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Buckinghamshire Healthcare NHS Trust Charitable Fund

Annual Report and Accounts 2022/23

25. Material uncertainty

There was no material uncertainty in the Investment Portfolio for the property funds to report at 31[st] January 2024 and the market volatility had subsided substantially.

The long-term case for real estate investment remains strong, it is physically unaffected by viruses and in the long term (and in many cases the short term too) continues to provide income stability and the ability to add value through active asset management. Moreover, property yields continue to offer a healthy and rising margin over UK gilt rates and interest rates.

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