Buckinghamshire Healthcare NHS Trust Charitable Fund Annual Report and Accounts 2024/25 860
Table of Contents l. Key Highlights Page 4 2. About the charity Page 4 2.1 Buckinghamshire HeaLthcare NHS Trust Charitable Fund Page 4 2.2 Reference and administrative details Page 4 2.3 Professional advisors Page 7 3. Objectives and public benefit Page 7 3.1 Objectives Page 7 3.2 Public benefit Page 7 4. Highlights of the year Page 8 4.1 Supporting our patient and communities Page 8 4.2 Supporting workforce wellbeing Page 10 4.3 Fundraising and events Page 10 5. Financial summary Page 12 5.1 Review of finances Page 12 5.2 Investment policy and performance Page 12 5.3 Reserves Page 13 5.4 Grant-making policy Page 13 5.5 Fundraising Page 14 5.6 Governance Page 14 5.7 Risk Page 14 5.8 Financial risk management Page 14 5.9 ConsoLidation of accounts Page 15 6. Plans for the future Page 15 7. Financial Information Page 16 7.1 Statements Page 16 7.2 Independent Auditors Report Page 17 7.3 Statement of FinanciaL Activities for the Year Ended 31 March 2025 Page 20 7.4 Balance Sheet as at 31 March 2025 Page 21 7.5. Statement of Cash FLOWS for the Year Ended 31 March 2025 Page 22 8. Notes to the Accounts Page 22 8.1 Accounting Policies Page 22 8.1.1 Accounting Convention Page 22
8.1.2 Income Page 23 8.1.3 Expenditure Page 24 8.1.4 Fixed Asset Investments Page 25 8.1.5 Realised Gains and Losses Page 26 8.1.6 Changes in the Basis of Accounting Page 26 8.1.7 Cash Flow Statement Page 26 8.1.8 Income and Expenditure ALLocation Page 26 8.1.9 Post Balance Sheet Events / Prior Year Adjustments Page 26 8.1.10 Pooling Scheme Page 26 8.1.11 Related Party Transactions Page 26 8.2 Analysis of Income Page 27 8.3 Charitable Expenditure Page 27 8.4 Trust Salaries and expenses reimbursed Page 28 8.5 Analysis of charitable expenditure Page 28 8.6 Apportionment and aLLocation of support and governance costs Page 29 8.7 Fixed asset investments Page 30 8.8 Stocks Page 31 8.9 Analysis of current debtors Page 31 8.10 Analysis of cash and equivalents Page 31 8.11 Analysis of current creditors Page 32 8.12 Analysis of funds Page 32 8.13 Transfers between funds Page 34 8.14 Reconciliation of net movements in funds to net cash flows from operating activities Page 36 8.15 Material legacies Page 36 8.16 Connected organisations Page 37 8.17 Contingencies Page 37 8.18 Material guarantees Page 37 8.19 Commitments, liabiLities and provisions Page 37 8.20 Key assumptions and judgements Page 40 8.21 Disputes with other parties Page 40 8.22 Taxation Page 40 8.23 Post balance sheet events Page 40 8.24 Comparative statement of financiaL activities Page 41
l. Key highlights 2024125 was another successful year for the Buckinghamshire Healthcare NHS Charitable Fund (the Charity). We continued to support patients to enhance their care and also gave support to our colleagues to help deliver healthcare services. We raised more than £800k this year and spent £558k on patients, welfare, delivering medical equipment, wheelchairs, sensory and therapy activities to support many vulnerable people. We invested £91k in supporting our colleagues, of which £21k was for training and development. We also continue to collaborate with other local charities on projects to improve patient care and outcomes. We would (ike to thank all our benefactors, fundraisers, supporters, volunteers and colleagues 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. £800k + raised £558k spent on patient welfare £91k spent supporting colleagues 2. About the Charity 2.1. Buckinghamshire Healthcare NHS Trust Charitable Fund The Trustee's Annual Report and Financial Statements for 2024125 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. 2.2. Reference and Administrative Details The Buckinghamshire Healthcare NHS Trust Charitable Fund (the Charity) is a charity registered with the Charity Commission, registered charity number: 1053113, with contact details as foLIows: Buckinghamshire Healthcare NHS Trust Charitable Fund Whielden Street Amersham Buckinghamshire HP7 OJD 01494 411700 Website: https: www.buckshospitalscharity.org The Board members of Buckinghamshire Healthcare NHS Trust (the Trust) on the date of approval of the financial statements and during the 2024125 financial year are shown below=
Board of Directors Name Trust position title; David Highton Chair Neil Macdonald Chief Executive Raghuv Bhasin Chief Operating Officer/lnterim Chief Executive Jenny Ricketts Chief Nurse Mr Andrew McLaren Chief Medical Officer Jon Evans Chief Finance Officer Bridget O'Kelly Chief People Officer Ellis PuLlinger Interim Chief Operating Officer Duncan Dewhurst Chief Digital & Transformation Officer Charmaine Hope Chief Estates and Facilities Officer Dr Lise Llewellyn Non-Executive Director John Lisle Non-Executive Director Nicola Gilham Non-Executive Director Nicola Frayne Non-Executive Director Anu Sekhri Non-Executive Director Sachin Jogia Non-Executive Director Dr Adrian Hayter Non-Executive Director (Associate} Claire Martin Non-Executive Director (Associate) Katie Higginson Non-Executive Director (Associate) Kavan Nagi Board Affiliate Morgann Bruce Board Affiliate Dr Poppy Flanagan Board Affi(iate Michelle Baker Board Affiliate Changes to the Board of Directors during 2024/2025: Name Trust position title End date Start date Karen Bonner Chief Nurse 1511212024 Jenny Rickets Chief Nurse 1611212024 Tom Roche Non-Executive Director 1310212025 ELaine Slew Non-Executive Director 31101/2025 Claire Martin Non-Executive Director (Associate) 26/0312025 Katie Higginson Non-Executive Director (Associate) 2610312025
Changes to the Board of Directors during 2025/2026: Name Trust position title End date Start date Neil Macdonald Chief Executive 0311012025 Raghuv Bhasin Chief Operating Officer 03/1012025 Raghuv Bhasin Interim Chief Executive 06110/2025 Ellis Pullinger Interim Chief Operating Officer 0611012025 Kavan Nagi Board Affiliate 30111/2025 Nicola Gilham Non-Executive Director 0410812025 Dr Poppy Flanagan Board Affiliate 31/0812025 Michelle Baker Board Affiliate 0110912025 Anu Sehkri Non-Executive Director 0110712025 Sachin Jogia Non-Executive Director 05/0812025 Morgann Bruce Board Affiliate 0111212025 Membership of Charitable Funds Committee Name Trust positlon title Nicola Gilham Non-Executive Director/CFC Chair John Lisle Non-Executive Director/CFC Chair Katie Higginson Non-Executive Director (Associate) Jon Evans Chief Finance Officer Les Broude Honorary Independent Member for Donors Maria Earley Honorary Independent Member for the Interest of Colleagues PhyLlis Scullion Honorary Independent Member for Medical Graham Livesey Honorary Independent Member for Patients Changes to the Charitable Funds Committee: Name Trust posltlon tltle End date Start date Nicola Gilham Non-Executive Director/CFC Chair 05/0812025 Start as CFC Chair: 0510812025 John Lisle Non-Executive Director/CFC Chair Katie Higginson Non-Executive Director (Associate) 26103/2025 Phyllis Scullion Honorary Independent Member for Medical 2410512024 Graham Livesey Honorary Independent Member for Patients 24/0512024
2.3. Professional advi rs Government Banking Seniices Royal Bank of Scotland, 36 St Andrew Square, Edinburgh EH2 2YB Investment Manager Cazenove Capital Management Ltd, l London Wall Place, London EC2Y SAU Auditors Ernst & Young LLP, 400 Capability Green, Luton LUI 3LU Solicitors Capsticks, I, St George's Road, Wimbledon SW19 4DR 3. Objectives and Public Benefit 3.1. Objectives The objective of the Charity is to apply the income and capital (where permissible), for any charitable purpose or purposes relating to the National Health Service. Most of our activity is in Buckinghamshire for patients of the Trust and the local community. The Trust's vision is to provide outstanding care, create healthy communities and make the Trust a great pLace to work. Outstanding care that is compassionate and inclusive, and delivers the best possible outcomes most efficiently. 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 allied to our objectives as follows: NHS Buckinghamshire Healthcare NHS Trust Buckinghamshire Healthcare NHS Trust Outstanding care Enhance patient experiences and outcomes Healthy communities Support people and communities to live well A Great place to work Support workforce and wellbeing 3.2. Public Benefit The Charity achieves public benefit by supporting patients of the Trust, supporting the health of everyone in our community and supporting the Trust's colleagues to improve patient experience. The Trustee is satisfied that the Charity complies with the public benefit parameters established by the Charity Commission.
- Highlights of the Year The Charity accepts requests for expenditure on projects from any colleague working for the Trust. Each request is carefully considered based on its alignment with our charitable objectives, potential impact on patient care, and overall benefit to the Trust. In 2024125 we received 117 requests asking for a total of £1.3 million. 4.1. Supporting Our Patients and Communities A total investment of £558k (2023124: £562k) has been allocated to patient welfare and amenities. This funding supports the acquisition of medical equipment, the implementation of projects aimed at enhancing patient care and monitoring, as well as the improvement of hospital facilities and the overall environment. Patient Monitors in the National Spinal Injuries Centre This project upgraded patient monitors in the National Spinal Injuries Centre (NSIC) to enhance safety, clinic efficiency, and integration with Electronic Patient Records. The new monitors let staff observe patients centrally, even with doors closed, maintaining privacy. mlndray New patient monitor installed in St. Patricks Ward Reminisce/Rehabilitation & Interactive Therapy Activities systems FolLowi ng a successful trial of the Reminisce/Rehabilitation & Interactive Therapy Activities (RITA) systems, the charity decided to fund 12 units, now located at three different hospital sites within the Trust. The RITA systems have been shown to help patients who may feel lonely or confused. Paula, a patient on the Waterside Ward at Amersham Hospital, shared her thoughts about using the RITA system. Paula, using the RITA System "I think this is really important, it's needed for social interaction, and I feel it frees my mind. I have feltpanicky in hospital a few times so it's nice to know there are lots of different things to do on RITA. A ladysat with me using RITA yesterday who has dementia, and she enjoyed creating her own garden" Children's Emergency Department Mental Health Room and Sensory Equipment The charity applied for a grant to create a new mental health room and provide portable sensory equipment for the Children's Emergency Department (Children's, ED) at Stoke MandeviLle Hospital. The room and equipment are designed to support children with learning diff iculties, autism, or mental health needs, including those who are bed-bound. A parent also shared feedback about their experience in the department.
Mental health room (left) and CED Projector in a patient room (right) ' Yesterday I had to attend with my son, who has ADHD, ASD, learning difficulties and is non-verbal. We were quickly seen by a nurse and then sent on to the Children's ED. In ED, my son was triaged straight away andgiven a room. When he became more dysregulated and anxious, the nurse immediately brought in a fantastic sensory machine, which kept him calm and occupied throughout our whole stay. NSIC Wheelchair fleet The charity funded a complete wheelchair fleet replacement at the National Spinal Injuries Centre, providing patients with suitable equipment and enabling faster rehabilitation while Lowering risks from extended bedrest. -'1,: I,,,,.)), kj). New wheelchairs deLivered to NSIC Specialist Cardiac Rehab Nurse The charity provided funding for a Specialist Cardiac Rehab Nurse, to increase the number of Cardiac Rehab clinics available for a range of patients. This should help improve health outcomes for more cardiac patients, reduce readmission and allow faster access to rehab clinics improving the confidence and independence of patients. Defence Medical Welfare Officer The charity supported the employment of a Defence Medical WeLfare Officer, to provide a range of supportive services to the Armed Forces Community to improve their experiences of primary and secondary care. Helen Stewart, Defence Med icaL WeLfare Officer
4.2. Supporting Workforce Wellbeing A totaL of £73k (2023124: £137k) has been spent on supporting workforce wellbeing. A healthy and motivated workforce gives a real benefit to patient care. Key projects in 2024125 are: A Wellbeing Group Therapist to help prevent and reduce work pressure for trust colleagues. This investment expanded counselling options with group sessions, complementing existing one-to-one support and aiming to reduce burnout before issues escalate. The role has already offered support to over a thousand colleagues. Support for volunteers who offertheirtime to support our patients, visitors and colleagues. AdditionaLly, the Charity has invested in and supported activities aimed at improving individual and team morale, through Trust-wide colleague awards for excellent patient care (CARE Awards), colleague development and training, and wellbeing support events, webinars, and activities. In 2024125 £21k was spent on supporting development and innovation (2023124 £5k). The Charity provides support for colleagues at Buckinghamshire Healthcare NHS Trust in areas such as conferences, workshops, and individual training. This assistance contributes to personal development and the improvement of skills relevant to patient care. Judith Twycross, Psychological WeLlbeing Group Therapist 4.3. Fundraising and Events This financial year has seen increased support and engagement across the community, whether through ind ividual fundraising, participation in challenge events, or donations directly to the charity. We are grateful to everyone who has supported us this year, whether volunteering, fundraising or donating. Thank you. London Marathon We started the year with 9 runners in the London Marathon 2024 who raised just under £14k for the Charity. In 2024 we went on to steward an additional 6 x runners ready for the 2025 London Marathon supporting a range of fundraising initiatives including cake sales and quiz nights with our enthusiastic fundraisers. Four of our nine runners, Helen, Michelle, Joe and Jodie with their Marathon medals wearing our charity running vests 10
NSIC'S 80th Anniversary 2024 marked the 80th Anniversary of the National Spinal Injury Centre (NSIC), and we celebrated with events on site such as a 24 hour Table-Tennis-a-thon and street party, as well as running an inclusive 80km in 80 day challenge which colleagues, patients and families could participate in. In total we raised just over £25k during the financial year to support the NSIC. R•(•plK)n fladii Itk r',1 ij th NSIC Patient Education Team at the Founders Day event marking the 80 anniversary of the NSIC Mobile Breast Screening Appeal In September 2024 we launched the Mobile Breast Screening Appeal in collaboration with Scannappeal. We kicked off fundraising with several of the Trust Executive Team and other supporters running in the Marlow Santa's Fun Run, as weLI as hosting carols across the hospitals and working with Breast Unit teams to promote the appeal. At the end of the financial year the joint appeal total reached £85.gk, demonstrating fantastic public support for the appeal in its first year. sbtj 'Santa's Scanners, team at the Marlow Santa Fun Run Fundraising & Major Donors One of our most notable fundraisers this year included a team of walkers & runners who held a mini marathon in aid of the Neonatal Unit raising over £2.7k with a walk from Flackwell Heath to Stoke Mandeville. We have also had several major donations coming in from patients to support different areas of the Trust. For example, a £17.6k donation to enable purchase of FES (functional electricaL stimulation) bikes in the NSIC, £5k to support throat and neck cancer treatment, and just under £8kto enable innovative new equipment for breast surgery teams. Neonatal mini marathon participants presenting a cheque to the neonatal team 11
Amersham Gardens The Amersham Gardens project has continued to thrive this year, with the dedication of our wonderful team of volunteers and ongoing support from local businesses and charitable organisations who support the project. The project was selected for the Coop Local Community Fund for 2024125 with a minimum donation of £lk going towards Amersham Gardens, customers voting for the project can help to increase this donation, and we look forward to the final total donation in late 2025. We also had supportfrom Hubbub Nature Hub Fund with £6k to support our Butterfly Borders project. The Amersham Community Board also helped us develop our Wildflower Meadow in collaboration with Wild Amersham with an additional grant of just under £lk. These funds have helped our volunteer team to rejuvenate around 12 of the hospital gardens, creating spaces where our patients, their families and our colleagues can take much needed time out to rest and recuperate. •1 Wildflower Meadow blooming with Oxeye Daisies Ileft) and Butterfly Border Red Roses (right) Christmas Toy Donations This year the Trust received an incredible toy donation from Strive Capital which was delivered to teams including Children and Young People, Children's ED and Ward 3 at Stoke Mandeville Hospital, Ward 11 at Wycombe Hospital, the NSIC and the nurseries at both Amersham and High Wycombe. Also 200 Shoe Boxes were donated to Children's teams at Stoke Mandeville from Kindness in Bucks, along with additional donations from the Chiltern Toy Bank. Donated toys being delivered to Stoke MandeviLle 5. Financial Summary 5.1. 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. 5.2. 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. 12
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 aims 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 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 capita( 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 2025 the fund investments, representing most of its unspent income, were valued at £10,237k (2023124: £7,456k). The investments, objectives and level of resenies are reviewed by the Trustee annually. During 2024125 £3m of cash was invested into the portfolio. The value of the invested funds experienced a decrease of £205k (2023124: increase of £474k). 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. 5.3. 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. 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 is considered both reasonabLe and prudent. Six months, anticipated expenditure was estimated at £136k at 31 March 2025. The Charity's level of reserves, less existing commitments, was £1,350k 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 2025126 and as such is deemed by Trustees to be appropriate. 5.4. Grant Making Policy ALI grants made are to Buckinghamshire Healthcare NHS Trust to support the activities relating to the Trust in line with the objectives of the Charity. For example, the Charitable Fund does not directly employ the colleagues working on Charitable funded activity; grants are made to the Trust to employ those people. 13
The Charity has considered each bid for funding on its own merits and has worked independently of the Trust's 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 8.19 on page 37 of the Annual Accounts. 5.5. 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, we do not use any external advisers. 5.6. Govemance The Charity Governance 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 continues with an action plan to enhance its governance. The code is used as a tool to achieve the highest standards of good governance. 5.7. Risk The Charitable Fund Committee reviews risks and ensures that these are managed effectively. Risk management includes= Identifying the major risks that the Charity faces and assessing our attitude to risk. Assessing the likelihood and severity of the risks identified. Reviewing controls that are in place to mitigate these risks. Identifying and implementing additional actions to mitigate risk. Utilise internal and external audit and other assessments to provide assurance that the risks are being managed appropriately and within our appetite for risk. These processes and the review of them provide the Trust Board with the assurance that risks are assessed and monitored by management. 5.8. 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. 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 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. 14
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 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. 5.9. 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. 6. Plans for the Future In 2024 the Board of BHT, as Corporate Trustee of BHTCF, agreed that a project should be progressed to set up a Charity with independent Trustees. The Board of BHT and the Trustees of another Local Buckinghamshire based Charity have a shared ambition to progress a merger of the two Charities and the current status of BHTCF, with a Corporate Trustee, would not enable this to happen. While discussions are ongoing, both organisations are approaching this collaboratively and with a cLear focus on continuity for donors, volunteers, and colleagues. Once this new Charity was operational, and appropriate due diligence carried out, the funds held by BHTCF would be transferred to the new Charity. Since then, the new Charity, Buckinghamshire Healthcare Charity (BHC) has appointed seven Trustees and is now registered with the Charity Commission. The project is progressing and has an anticipated completion date of 31st March 2026. Until such time as the funds are transferred to the new Charity, BHTCF is operating to fuLly support the patients and colleagues within BHT. 15
- Financial Information 7.1. statements 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. Obsernie 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 WILI 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. Signed on behalf of the Buckinghamshire Healthcare NHS Trust Name and role Psignature Date Raghuv Bhasin Interim Chief Executive 2810112026 John Lisle Chair of the Charitable Fund Commitee 28/01/2026 Jon Evans Chief FinanciaL Officer 2810112026 16
7.2. Independent Auditors Report Opinion We have audited the financial statements of Buckinghamshire Healthcare NHS Trust Charitable Fund for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including as summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards Iunited 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 2025 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) IISAS (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. 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. 17
7.2. Independent Auditors Report 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.lf 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 16, 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. 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, 18
7.2. Independent Auditors Report 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 Buckinghamshire Healthcare Trust Charitable Fund is complying with those frameworks by understanding the incentives, 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 lead 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 non-compliance 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. Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved: (a) review of the manual year-end income accruals, challenging assumptions and corroborating the income to appropriate evidence; (b)performing a review for any significant, unusual business transactions; and (c) testing of specific journal entries identified by applying risk criteria to the entire population of journals. For each journal selected, we tested specific transactions back to source documentation to confirm that the journals were authorised and accounted for appropriately. 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. ¢£qwUf Ernst & Young LLP Statutory Auditor London 28 January 2026 Ernst & Young LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 19
7.3. Statement of Financial Activities for the Year Ended 31 March 2025 Totsl at Total at UrYestr1 Re&ricted 31 March 31 Marth Funds Funds 2025 2024 Nots Donations and le acies Charitable activities Other tradin activities Investments 885 33 19 852 18 1.448 127 381 381 334 Raisin funds Charitable activities 95 552 96 907 80 926 8.3, 8.5. 8.6 355 Net income l (expenditure) and net movement in funds before gains I losses on investments Net ains / losses on investments Net income I ex enditure Transfer between funds Net movement in funds. 618 205 413 672 259 370 248 205 43 903 474 1.377 370 675 305 8.13 43 1,377 T(thl c¥rfed forwvd at 31 Mffth 2)25 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 2023124 by fund type is shown in note 8.24 on page 39-40 The notes on pages 22 to 40 form part of these accounts. 20
7.4. Balance Sheet as at 31 March 2025 Totsl at Totsl at Nots Fw 2025 2024 Investments 5,751 761 4,392 94 10,237 10 7,456 Stocks Debtors Cash al bank and in hand 32 1,339 32 2,106 189 4.491 8.10 765 Creditors: Amounts falling due within one year 8.11 (394) (349) (743) (547) 9TT 416 4.134 Tdal Assets 11 Fwxts of th8 endable Endowment Funds Restricted Income Funds Unrestricted Income Funds 8.12 8.12 8.12 96 99 4,808 6.728 11,832 6,728 6,rn 4,8( 6.988 Notes on pages 22 to 40 form part of these accounts These accounts (Registered Charity number 1053113) were approved by the Trustees and signed on their behalf by: Name and role Signature Date Raghuv Bhasin Interim Chief Executive 28/01/2026 John Lisle Chair of the Charitable Fund Commitee 28/01/2026 Jon Evans Chief Financial Officer 2810112026 21
7.5. Statement of Cash Flows for the Year Ended 31 March 2025 2024125 2023124 Funds Funds £000 £000 221 1,590 221 1,590 Note Cash flows from o eratin activities Net cash used in operating activities 8.14 Dividends and interest Proceeds from sale of investments Purchase of Investment Increase /Decrease in cash held in investment Net cash 8.7.3 381 335 8.7.1 3000 7,959 8.7.1 (5,993) (7,340) 407 1361 Recei tofex Net cash endable endowment Change In cash and c&sh equlvalents In the year (2.385 2.951 Cash and cash equivalents brought forward 8.10 4,491 1,540 C&8h cash 8.10 2,1( 4,491 Notes on pages 22 to 40 form part of these accounts 8. Notes to the Accounts 8.1. 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. 8.1.l. 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 l January 20191 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 caLI into doubt the Charity's ability to continue in operation. 22
There is an ongoing 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. b. Fund 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 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 8.12 on page 32. 8.1.2. Income a. All incoming resources are included in full in the Statement of Financial Activities as soon as the following three factors are met: EntitLement- control over the rights or other access to the economic benefit has passed to the Charity (In the case of a donations, entitlement usually arises immediately on its receipt); and Probable- when it is more likely than not, that the economic benefits associated with the transaction or gift will flow to the Charity; and Measurement- when the monetary value, or amount of income, can be measured reliably and the costs incurred for the transactions and the costs to complete the transaction can be measured reLiably. 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 There has been grant of probate; The executors have established that there are sufficient assets in the estate, after settLing any liabilities, to pay the legacy; and Any conditions attached to the legacy are either within the control of the Charity or have been met. The Charity has adopted a policy of discounting the value of legacies where: The expected receipt date is more than 12 months after the balance sheet date, and the expected nominal value of the legacy is over £1 mil(ion, or the expected receipt date is more than 3 years after the balance sheet date, and the effect of discounting is material. 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 8.15 on page 36. d. Gifts in Kind Assets given for distribution by the funds are included in the Statement of FinanciaL Activities when distributed. Assets given for use by the funds (e.g. property for its own occupation) are included in the Statement of Financial Activities as incoming resources when receivable. Gifts made in kind but on trust for conversion into cash and subsequent application by the funds are included in the accounting period in which the gift is sold. 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 Income received from 3rd parties, for use of facilities to provide seniices to the patients, are deliberately set at level which only covers related costs. 8.1.3. Expenditure a. Expenditure is recognised when all of the following criterio are met: ObLigation - a present legal or constructive obligation exists at the reporting date as a result of a past event. Probable- it is more likely than not that a transfer of economic benefits, often cash, WILI be required in settlement. Measurement- the amount of the obligation can be measured or estimated reliably. 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. ALI expenditure is accounted for on an accruals basis and it is allocated to the appropriate charitable activity. 24
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 8.3-8.6 on pages 27-29). 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. These costs comprise direct costs and apportionment of overhead and support costs as shown in notes 8.3-8.6 on pages 27-29. f. Govemance 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 8.3-8.6 on pages 27-29. 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). 8.1.4 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. Quoted stocks and shares are included in the balance sheet at mid-market price on 31 March 2024 as suppLied by the investment managers, excluding dividends. The Statement of Financial Activities includes the net gains (or losses) arising on revaluation and disposaLs of investments throughout the year Other investment fixed assets are included at Trustee's best estimate of market value. Stocks are valued at their face-value, which is their monetary value. 25
8.1.5. 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). 8.1.6. Changes in the Basis of Accounting 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). 8.1.7. Cash Flow Statement Large charities preparing their accounts under FRS102- SORP 2019 must provide a statement of cash fLows, which has been provided. 8.1.8. 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. 8.1.9. Post Balance Sheet Events / Prior Year Adjustments There are no post balance sheet events or prior year adjustments to be disclosed. 8.1.10. 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)198. 8.1.11. 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 8.16. 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 8.4 on page 28. 26
8.2. Analysis of Income Total Unrestricted Restricted Endowment 2024r25 £000 £000 £000 £000 185 218 699 633 1) 18 Total 2023124 £000 118 1,330 127 Materlal Inc(xnl Resour(x Donations Le acies Charitable activities Other trading activities Investments Other Totsl Income 33 66 19 381 381 334 14 1.250 8.3. Charitable Expenditure Total Unrestricted Restricted Endowrnent 2024r25 Total 2023r24 £000 £000 £000 £000 £000 Fundraisin activities Investment management costs Totsl ralsl fvnds 82 13 83 13 53 27 Patients, welfare and amenities Staff welfare and amenities Research Trainin and Develo Other 236 72 322 558 73 562 137 ment 13 21 316 652 704 8.3.3. knlysls of sUppt and Salaries and wa Audit fee Professional fees and establishment costs Totsl su es 176 29 19 195 29 184 20 31 31 255 18 19 Totsl e The Trust recharged the Charity £20,000 in 20241251£20,000 2023124) for the externaL audit fee. There was no fee for an internal audit (2023124= £Nil). Should new risks be identified, a provision exists for internal audit review. 27
8.4. Trust Salaries and expenses reimbursed Total Total Unrestrided Restricted EndOt 2024r25 202V24 £(x)o £(x)o 176 29 31 Salaries and wa Audit fee Professional fees and establishment costs es 19 195 29 31 255 20 18 19 Totsl 2024r25 Totsl 2023r24 Salaries and wa es 195 184 Salaries, management and administration charges paid to the Trust in this financial year and recharged to the Charity totalled £255,000 (2023124: £222,000). The expenditure recharges usually reLated to accommodation and IT support £12,000 (2023124: £12,000); stationery and office equipment £1,700 (2023124: £2,000); external audit fees £29,000 (2023124: £20,000); other governance costs £7,000 (2023124: £5,000) and finance staff and senior management costs £195,000 (2023124: £184,000). The Charity does not directly employ staff members. There are two members of staff (2023124: 2) who provide support services to charitable activities who are 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 staff who deliver the projects. Four interim members of staff were contracted to provide support with the completion of the operational activities of the Charity in 2024125. 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. 8.5. Analysis of charitable expenditure Total Total Unrestricted Restricted Endowment 2024125 2023124 £(x)o Fundraising general costs and fees Investment management costs 82 13 83 13 53 27 28
Activities undertaken directly Grant Support funded and Total activities govemance 2024125 £o)o £(x)o 177 736 54 126 Total 2023124 £0 741 168 Patients, welfare and amenities Staff welfare and amenities Research Training and Development Other 558 73 20 26 19 19 256 11 651 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. 8.6. Apportionment and allocation of support and governance costs Support and Totsl Total Funds Governance Costs 2024r2025 2023r2024 Patients, welfare and amenities Staff welfare and amenities Research Trainin and Development Other 236 72 177 54 414 126 634 108 13 316 745 Patients, welfare and amenities Staff welfare and amenities Research Trainin and Development Other 322 322 107 60 13 13 19 19 19 11 181 Patients, welfare and amenities Staff welfare and amenities Research Trainin and Develo Other ment 29
Support and Total Total Funds Governance Costs 2024r2025 202312024 JI fimtr. Patients, welfare and amenities Staff welfare and amenities Research Trainin and Develo Other 558 73 177 54 736 126 741 168 ment 20 26 19 19 256 11 651 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. 8.7. Fixed asset investments Total Total 2024r2025 202Y2024 Market value at 1 A ril 2024 Less: Dis osals at carr in value Add: Ac uisitions at cost Net ains & losses on revaluation at 31 21r25 7,455 3,000 5,993 211 10 8,009 65 HtstLYlc u)st at 31 Mwth 2025 Total Total Held in UK outsth UK 2024r2025 2023r2024 8.72. Market vakn at 31 2IY25 Investments listed under E uities Investments listed under UK Bonds Multi-Asset Funds Pro ert Funds Other Interest on cash held on de 10,207 10,207 7,420 osit 30 30 36 10 0 10 Investments listed under E uities Investments listed under UK Bonds Multi-Asset Funds Pro ert Funds Other Cash held on de 45 13 73 15 171 171 osit 210 210 182 30
The unrealised loss in 2024125 was-£351,00012023124: gain £348,000). The realised gain in year is £NIL (2023124: gain £5,000). The unrealised loss made on investments was-£351,000 (2023124: gain £353,000); which added to unrealised gain brought forward of £446,000; gives cumuLative unrealised gains of £95,000. Some cost adjustments may be reflected in historic cost due to equalisation. 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 £13,00012023124 £28,000). 8.8. Stocks Total Unrestricted Restricted Endowm8nt 2024r25 Total 2023r24 £000 £000 £000 Stocks Total 8.9. Analysis of current debtors Total Totsl Unrestricted Rethicted Endowment 2024r25 2023r24 Accrued income Other debtors 30 30 181 Current debtors are in relation to income due from donations from giving websites £4,000 (2023124: £1,000); Gift Aid and Gift Aid Small Donation Scheme from HMRC £2,000 (2023124 £6,000); dividends from the investment manager £3,000 (2023124: £NIL); various legacies £13,000 (2023124: £180,000); recharges to associated charities £2,000 (2023124: £1,000); prepayments £2,000 (2023124: £0) and VAT claim for £5,000 (2023124: £NIL). 8.10. Analysis of cash and equivalents Total Total Unrestricted Restricted Endowment 2024r25 2023r24 Cash and cash 8qulvalents: Bank £000 1,339 £000 765 £000 £000 £000 2,106 4,491 2106 4491 No cash or cash equivalents or current asset investments were held in non-cash investments or outside of the UK. All of the amounts held on interest bearing deposit are available to spend on charitable activities. 31
8.11. Analysis of current creditors Total Total Unfestrid Restri Endowment 202¥25 202¥24 Accruals 394 349 743 743 547 Current creditors consist of £700,000 (2023124: £468,000) 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 creditor's accruals of £33,00012023124: £16,000) to be paid for other projects and Deferred Income of £10,000 (2023/24: £63,000) 8.12. Analysis of funds Balae at lnveStsrn Balance at Gains 1 31 March 2024 RescArn Experthd Trnnsfers (Losses) 2025 8.111. FWKIK 8alarKe at 31 March Inc(xnifvJ Resources In1 8alarKe at Galnsl 31 March Spinal Injuries Children - To benefit the activities related to the hospital's spinal children in'uries work 1,406 12 11 1,386 Spinal Amenity - To benefit the activities related to the hospital's national spinal in uries centre 1,293 55 304 10 924 Masson Legacy for Spinal Research - To benefit the research activities relaled to the hospital's natlonal spinal In urles cent Diabetes Centre - For investigation of causes and tatrnent of diabetes Spinal Injuries Research - For the provision of research related to s inal in'uries 506 502 364 12 375 337 15 350 Medtronic Export Research Fund - To benefit the activities related to the hos ital's coronar research 103 97 Diabetic Research Fund - To benefit the actmties lated to the hospital's diabetic research unit Pharmacy Trust Wide. Research & Equipment Fund - For the phamiacy department in connection with research arKI ui ment 110 (1) 109 57 56 Restricted General Amenity Stoke Mandeville Hos 765 765 168 76 Restricted Maxillofacial Other funds 327 24 33 242 675 32
Balae at Investment 8alartt at 31 March Incoming Resources. Gains 1 31 March 2024 Reswrces Expended Trdnsfers (Losses) 2025 Chiltem Medical Education Fund Cancer and Haematol Fund - combined 37 159 71 37 374 71 215 WGH Gastroenterolo fund Wycombe General Hospital General Amenities Fund 428 (15) 440 Coronary Care and Cardiac Rehab Fund - combined 52 286 65 12 293 (2) 334 284 69 Breast Cancer Research Care of Ihe Elde - combined Generdl Amenity Stoke Mandeville Hospital BHT Critical Care 1,093 82 88 54 59 161 305 72 44 216 276 61 637 (774) (i) 949 84 104 71 59 160 299 120 41 214 274 61 Paediatric Ameni 76 17 63 Plastic Su Scientific Research SMH Cancer Care Nurse Education Fund (i) (2) (i) Amersham Hos ital General Amenities Dermatolo Trust Fund 51 Heberden Unit FundlNeuro reh-BNRU Marlow Hos ital General Amenit Fund Chalfont and Gerrards Cross (2) {2) Thame Hos ital Buckinghamshire Hospitals NHS Trust Amenities Fund 2,179 243 84 873 434 485 (219) {2) (i) {180) 1,909 248 83 446 6,729 Ph iothera Bht General Fund Res irato Amen Fund THORACIC Other funds 34 77 {205) (knj TLthI of FwwJ8 11,633 Material funds are those with closing fund balances of over £35k. On the 31 March 2025, the Charity was constituted of 88 active funds with balances (2023124: 102); of these, 4 of the funds in the year or at year-end were endowments, 65 unrestricted and 19 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. 33
8.13. Transfers between funds Tolal 1CK)1 Ajan Vass Memorial Fund 13 13 1 IX13 Cancer Researth 30 1007 Elderf Care Medical Staff General Amenit 1008 General Su ical - Combined Fund 19 19 1CM)9 Cancer And Haemato Fund - Combined 215 215 1011 Neurolo And Parkinson - Combined Fund 29 29 1012 0 hlhalmol - Combined Fund 30 30 1013 Orth edics - Combined Fund 1017 Social Workers Samaritan Fund 1020 Visual Voice Fund 1021 WGH Gaslrcenlerol Fund 1022 combe Breast Cancer 1023 combe General Hos tal General Amenities Fund 1024 Anaesthetics - Combined Fund 17 17 1029 Cancer Research & Treatment Fund 93 93 1030 Corona Care And Cardiac Rehab Fund - Combined 293 293 1035 Stroke Amenil Fund combe & Amersham Hos itals 29 29 1036 Video Arthrosco Fund 21Y)1 Emer artment - Combined Fund 2LM)3 A&E Trauma & Orth aedic Fund 2CM)4 Accident & Eme en 2(X)S Anaestheiics De 17 17 201% Ba$1 Cancer Research (2) 2010 Car Pauenls Parlnershi 2011 Cardiac Rehabililalion Fund SMH 28 28 2012 Cafe Of The Elde - Combined 2013 Carf Todd Oncd 49 49 2017 Chesl knd Heart 2019 CYP- comts.ned Fund 2022 cOa Care 41 41 2023 cOra Researth 210 210 2026 Diatetes Fund - Combined 12 12 2031 E e Unit 18 18 2034 General Amenit Sioke Mandev11 le Hos 774 774 2036 G eacol Research & E ui enl 2037 Haemato 35 35 2038 Haemato Nursi Fund- Ward 5 10 10 2039 Rheumalol Fund - Combined 17 17 2041 Heari Im 14 14 2045 IMPS 34
Totsl 2045 IMPS 2046 BHT Critical Care 2048 Masson L For S 'nal Research 2049 W(Knen's Funds - Combined 19 19 20x1 Maxilk> Facial 168 2054 Medtronic Ex Research Fund 2056 MKlwrf & G e Services Fu1 2057 Mr Tvedle - General Su 2058 Combined Radiol Fund 2063 Paediatric Amenit 2070 Retinal Stu 2074 Short Sta - Ward 10 3) 2076 SMH Cancer Care Nurse Education Fund 2079 S inal Amenit 10 10 2082 S "nal In uries Children 11 (11 2083 S nal In'uries Research 3) 2084 Sur ical D rtment E ui enl Fund 2087 Sur ical Wards (7 (7 (4 765 2093 Children Unit Fundl al 4) 765 2094 Restricted General kneni Stoke Mandeville Hos ital 2095 Restricted - Maxillofacial 168 168 3001 Amersham Hos ital General Amenities 3002 Amersham Hos ital Su ical Fund {2 3003 Amersham Hos ital Ultra Sound 3004 Dermalol Trust Fund 3005 Audiolo - Combined Fund 35 35 3008 Rheumatolo & Rehabilitation Fund 18 18 4001 Maflow Hos ilal General Amenit Fund 4003 Chalfonl And Gerrards Cross 2) 21) (2 (21) 5003 Audiolo General Fund- Amersham, ital In Pe combe & SMH 5004 Bi ins Ca 5005 BPCT Trainin {3) 219 3) 219 so1 Buckin hamshire Hos itals NHS Trusl Amenities Fund 5007 Cardiol Trust Fund 12 12 5016 Comea Fund (2) 15 (2 15 (1) 5) (1) (5) 5018 Diabelic Nursin Fund 5019 Diabelic Research Fund (1) 5021 DM Pie ital In Pe etuit Fund 5) 5026 Health Visitor Parentin (1 (5 5028 Inter Team - North Comm Nurse 5029 Inter Team - South East Comm Nurse 5031 Inler Team - Comm Nursin Combined Fund 5032 Kem ital In Pe iluit 35
Total 5033 Oral Sur & Orthodontic Fund 5036 Ph iothera Bht General Fund (2) (1 $038 Res irato Amenit Fund Thoracic (1 5041 To Libra 5044 Unrestricted l Desi nated General Staff Fund 14 14 5045 Volunta Services (2 36 (2 36 9010 Investment Income Control Fund 9011 Unrealised Gainwlosses Control Fund 219 219 9016 Investment Ex nditureffiees Control Fund 23 23 (671) 674 (3) Total Unrestricted Restricted Endowment 2024r25 £(x)o £000 Investment Income Allocation 2024125 116 114 Admin Char e Allocation 2024125 148 Dividends & Interest - Tfr to Breast Cancer a eal Fund Combination 225 225 Shared Costs allocation Transfer to New Funds (933) 932 (i) 674 8.14. Reconciliation of net movements in funds to net cash flows from operating activities Total 2025 Tolal .2024 Net income l (expendilure) for 2024 12025 (as per the Statement of Financial Activities 43 1,377 Deduct interest income shown in in investin activities Deduct ains l add back losses on investments Decrease increase in stocks Decrease increase in debtors Increase (decrease) in creditors 381 205 334 474 157 196 221 832 190 8.15. 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. 36
8.16. Connected organisations Net Net Name of party involved, a description of the Surplus I Surplus I Turnover (Deficit) Turnover (Deficit) transaction and a description of the nature of 2024r25 2024r25 2023r24 2023r24 the relationship '£ooo '£oix) '£ooo '£ooo 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 £252,000 (2023124: £222,000) was also made to cover audit fees, rent and other minor expenses incurred. Current creditors consists of £721,000 (2023124: £468,000) to be paid to the Trust in relation to a reimbursement of various projects as mentioned in note 8.11. 709,896 (10,905) 657,814 (10,010) 709,896 (10,W 657.814 (10.010) 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 202412025 can be obtained at rTr B kingh hir NH 8.17. Contingencies There were no contingencies at 31 March 2025 8.18. Material guarantees There were no material guarantees at 31 March 2025 8.19. Commitments, liabilities and provisions Items not induded Items not induded within SOFA or within SOFA or Balance Sheet at Balance Sheet at 31 March 2025 31 March 2024 £(x)o £(x)o Real Time Patient Electronic Observations and Escalation S stem NSIC Fleet U date 41 98 NSIC Replacement of Patient Monitoring & Central Stations FES Exercise Bike 35 21 285 37
Items not included Items not induded within SOFA or within SOFA or Balance Sheet at Balance Sheet at 31 March 2025 31 March 2024 £000 Wellbein Grou Thera 1st Badges to commerate the 75th Anniversary of Ihe foundin of the NHS Defence Medical Service Welfare Officer Patient Eme Discha e Fund Staff Wellbein ect Redecoration lo the SMH ICU relatives Room Neonatal E ui ment Calesca Autoste brackel and accessories for the Lite Gait Electric Recliner Chairs & Screen Patient Slee Well Packs Two ankle brachial index kits Staff Network Activities Volunteer Retention and Reward Sensory & Mental Health Room Equipment for the Children's De rtrnent Southern ACHT Breakroom Furniture & Goods Improving the Clinical Environment for Children wilh Additional Needs Hearts and Souls S ialist Cardiac Rehab Nurse Development of Proof of Concept Role of a Clinical ecialist Wallet Document Potyfile Classic Polypropylene with Po er Clear A5 Development of a Scheduling Syslem for NSIC Rehabilitation - Sta e 1 the Discove Pro ect T-shirts to Promote Awareness 26 24 20 49 20 48 en 14 17 39 33 Food for NSIC 80th Birthd Celebration ED Resus Frid Resus E ui ment Bums Prevention Marketin Plastic Wallets Materials 38
Items not included ttems not induded within SOFA or within SOFA or Balance Sheet at Balance Sheet at 31 March 2025 31 March 2024 £000 Clinical Accreditation Pro ramme Award Ceremon in of Palliative Care Formula Books Anaesthetics PSIRF U date Staff Jackets - Worn b Staff at Work & Outreach Hoist Scale Attachment for Children's O/P WH Postural Stabilit Instructor Trainin ICU Team Awa Burns Unit G m E ui ment and Educational Su Sustainabilit - Amersham Hos ital Gardens Pro New Procedure Su ort of Intemational Proctor Purchase of a Pool Platform Purchase of a Ski*r for Use in the S inal G Reactivation of 12 Month OAM Activation Card Annual License Fee for vcreate BriSCEV Conference EMDR Su ervision for BHT Ps cholo Stroke Unit Garden and Chiltem Ran BHT CF Indicative Pro ect Plan HQ Charitable Fund Accounting - Annual Maintenance Contract for 2025126 Payter Plane, A920 & 4G Sims Fees - Donation Walls ri12025 to March 2026 SLA for the Maintenance of the Charity's Website - ri12025 to March 2026 Donorfy Monthly Direct Debits for CRM - April 2025 to March 2026 SLA for Providing Email Services to the Charity - ri12025 to March 2026 Ph sioe ui ment- NMES machines Staff room furniture and a projector for training oses lies ect ists ers 14 Phase 1 AGH Gardens Pro ect 10 39
Items not included ttems not induded within SOFA or within SOFA or Balance Sheet at Balance Sheet at 31 March 2025 31 March 2024 £000 Upgrade of RT300 FES Bikes and GIGER MD Recumbent Arm & Leg Cycle (Used on St Frances Ward Retinal Stud - Conference 18 New cables and additional electrodes and required sponges for the DEN2x Lower Motor Neurone Stimulator Other small ex Totsl Other enditure re uests 418 614 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 andlor SOFA to the extent to which the project has been delivered. 8.20. 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 significantjudgements 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. 8.21. Disputes with other parties There were no disputes, litigations or claims with other parties to report as at 31 March 2025. 8.22. Taxation Buckinghamshire Healthcare NHS Trust Charitable Fund 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. 8.23. Post balance sheet events There were no post balance sheet events to report at 31 January 2026. 40
8.24. Comparative statement of financial activities uNestriC Rethted EnthJ*rnt T(Aal at 31 Tila at 31 FmIS 2024 2023 Donations Le acies 95 1,110 23 220 118 1,330 152 1 ,843 Charitable activities Other Tradin activities Investment income 18 109 127 334 334 171 Fundraisin activities Investment mana ement costs 8.3, 8.5 8.3. 8.5 52 27 53 27 45 28 Patients, welfare and amenities Staff welfare and amenities Research Trainin and develo Other 8.3, 8.5, 8.6 8.3, 8.5, 8.6 8.3, 8.5, 8.6 8.3. 8.5. 8.6 8.3. 8.5, 8.6 455 77 107 60 562 137 1,682 155 107 ment 211 746 222 198 1139 2212 181 Net incomel(expendilure) and net movement in funds before ains and losses on investments Net gainsl(losses) on investments 732 381 171 95 903 474 1,343 (404) (2) Transfer between funds 8.13 127 124) 127 Total funds brou ht forward at 1 A ril 2023 5.748 4,364 101 10,213 9,275 Total funds brou ht forward at 1 A ril 2023 Tc4al cvrknl at 31 2024 5.748 4,364 101 10.213 11 9.275 10 14 41