Essex Partnership University NHS Foundation Trust Charities
Annual Report and Accounts 2020-21
Essex Partnership University NHS Foundation Trust Charitie
Charitable Funds Accounts 2020-21
ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
| Note No: | Page No: | ||
|---|---|---|---|
| SECTION A | |||
| Charity Information | (i) | ||
| Annual Report of the Trustees for the year | (ii) - (viii) | ||
| ended 31 March 2021 | |||
| Statement of Trustees’ Responsibilities | (ix) | ||
| Independent Examiners’ Statement | (x) – (x) | ||
| SECTION B | |||
| Foreword to the Accounts | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Statement of Cash Flow | 4 | ||
| Accounting Policies | 1 | 5-7 | |
| Analysis of Donations | 2 | 8 | |
| Analysis of Income from Other Trading Activities | 3 | 8 | |
| Analysis of Income from Investment | 4 | 8 | |
| Analysis of Expenditure on Charitable Fund | |||
| Activities | 5 | 9 | |
| Analysis of Support Cost by Type | 5.1 | 9 | |
| Analysis of Support Cost by Activities | 5.2 | 9 | |
| Gain and Losses on Investments Revaluation | 6 | 9 | |
| Fixed Assets Investments | 7 | 10 | |
| Changes in Fixed Assets Investments | 7.1 | 10 | |
| Analysis of Fixed Assets Investment by | |||
| Investment Manager | 7.2 | 10 | |
| Analysis of Receivables due with one year | 8 | 11 | |
| Analysis of Short term investments & deposits | 9 | 11 | |
| Analysis of Cash and Cash Equivalents | 10 | 11 | |
| Net Cash Flow from Operating Activities | 10.1 | 11 | |
| Reconciliation of Net Income/(Expenditure) to | 10.2 | 11 | |
| Net Cash Flow from Operating Activities | |||
| Analysis of Creditors | 11 | 12 | |
| Reconciliation of Funds Balance at 31 March | 12 | 12 | |
| 2021 | |||
| Trustee and Related Party Transactions | 13 | 13 | |
| Trustees Remuneration and Benefits | 14 | 13 | |
| Staff Cost and Other Benefits | 15 | 13 | |
| Contingencies | 16 | 13 | |
| Commitments, Liabilities and Provisions | 17 | 13 | |
| Post Balance Sheet Events | 18 | 13 |
Essex Partnership University
CHARITY INFORMATION
| Name: | Essex Partnership University NHS Foundation Trust Charities |
|---|---|
| Trustees: | The Board of Directors of Essex Partnership University NHS |
| Foundation Trust | |
| Charity Number: | 1053793 |
| Charity Offices: | Essex Partnership University NHS Foundation Trust |
| Head Office | |
| The Lodge | |
| Lodge Approach | |
| Runwell | |
| Wickford | |
| Essex SS11 7XX | |
| Independent | Ernst & Young LLP |
| Examiners: | 400 Capability Green |
| Luton | |
| LU1 3LU | |
| United Kingdom | |
| Bankers: | Lloyds Banking Group |
| 34 High Street | |
| Grays | |
| Essex | |
| RM17 6LX | |
| Investment Brokers: | BlackRock Investment Manager (UK) Ltd |
| 33 King William Street | |
| London EC4R 9AS | |
| M&G Securities Limited | |
| Laurence Pountney Hill | |
| London EC4 0HH | |
| CCLA Investment Management | |
| 80 Cheapside | |
| London EC2V 6DZ |
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
1. INTRODUCTION
The Essex Partnership University NHS Foundation Trust Charities (referred to as the Charity for the purpose of this document) was renamed from the legacy organisation’s name (South Essex Partnership University NHS Foundation Trust Charity) on 1[st] April 2018, as a result of the merger of the former North Essex Partnership University NHS Foundation Trust and the South Essex Partnership University NHS Foundation Trust and their associated Charities.
The purpose of this report is to inform users of the accounts on the structure, policy and objectives, and governance arrangements of the Charity. The report also covers funding arrangements and a high level financial review for the year.
2 . GOING CONCERN
These accounts have been prepared on the basis that the Charity is a going concern. This means that the assets and liabilities of the Charity reflect the ongoing nature of the Charity’s activity.
3 . SCOPE
The objective of the Charity is that the funds are made available to benefit the patients and staff of the Essex Partnership University NHS Foundation Trust (The Trust), or for any other NHS organisations on behalf of whom the Trust administers funds.
The Charity is sub-divided into a number of linked funds, each of which has a specific purpose and this determines the type of expenditure that can be incurred. Each linked fund is further broken down into smaller funds which are assigned an individual fund number. Each fund has a designated fund manager who is responsible for approving expenditure against the fund, monitoring fund levels and co-ordinating fund raising activities where appropriate in accordance with the scheme of delegation.
4 . OBJECTIVES AND STRATEGY
The objective of the Charity during the current and future years is to support the needs of patients and staff of the Trust, in improving standards of care and facilities, within the scope of provision included above.
In seeking to achieve the Charity’s objective, the Charity actively encourages donations and organises fund raising events.
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
5. FUNDS
Unrestricted funds are those which are not subject to any specific restriction, but can be used in accordance with the general purpose of the Charity, to improve standards of care and facilities for patients and staff within the scope of the Charity.
Restricted funds are funds which are subject to specific restrictions, over and above the general purpose of the Charity.
6. STRUCTURE AND GOVERNANCE
The charitable trust, which is an umbrella Charity, is an unincorporated body, with each separate restricted and unrestricted fund within the charitable trust being governed by its own model declaration of trust. The model declaration of trust sets out the specific or general purpose of the fund by way of its objects. This structure enables donations received into the restricted funds to be used for the purpose intended by the donors and those donations given for general purposes to be controlled.
The Charitable Funds Committee has delegated authority from the Board of Directors to approve applications for funds up to £10,000 in accordance with agreed criteria and the Charity’s objects. This Committee is overseen and monitored by the Board of Directors. The Corporate Trustee for the Charity is the Essex Partnership University NHS Foundation Trust, with responsibility for the management of the Charity undertaken by the Board of Directors. Any provision for training and induction of Trustees is therefore covered under the ongoing requirement of the Board of Directors.
7 . RESERVE POLICY
During 2020/21, fund managers have again been encouraged by the Trustees to use the funds available to them. The Trustees aim to ensure the value of the overall fund is maximised in line with the Investment Policy and will ensure that the capital value of endowment funds are maintained in perpetuity. The funds will continue to be used to improve the standards of care and facilities provided to patients and staff.
8 . INVESTMENT POLICY
The Charity has an investment policy which aims to achieve a split of funds between investment in the unit trust and deposit style investments. This is maintained in order to meet the spending plans of the organisation. This also provides detail around the Charity’s corporate, social and ethical responsibilities in terms of where investments are made.
Funds are currently invested with the following investment managers:
BlackRock Investment Management M&G Securities Ltd CCLA Investment Management
The Committee is responsible for reviewing and updating this Investment Policy on a regular basis.
9 . RISK STATEMENT
The risk to the Charity is that equity investments may be adversely affected by a material fall in stock market values. The Committee will continue to monitor risks at its meetings, and obtain professional advice where appropriate with respect to its investments.
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
10 . FUNDING
Income is received from direct contributions from the public, in addition to income from dividends and interest receivable. In addition, funds are generated from fund raising activities. During 2020/21, the Trust was also fortunate to have received grants from NHS Charities Together totalling £172,100.
Each fund receives a proportion of dividends and interest received from the investments in accordance with the average fund value during the year. This basis of apportionment is also applied to capital losses/gains, administration expenses and the management fees of the investment managers. The Committee consider this apportionment equitable.
The investments are made in accordance with the Trustee Act of 2000. The investment advisers have been instructed to exclude any direct investment in the tobacco industry, as this is considered inappropriate for an NHS Charity.
The Charity also follows the 2017 Money Laundering, Terrorist Financing and Transfer of Funds Regulations which came into force on 26 June 2017 (superseding the 2007 Regulations). These regulations aim to ensure that there are robust arrangements in place to ensure incoming resources, especially cash donations, are not the proceeds of crime.
11 . FINANCIAL REPORT FOR THE YEAR
The attached accounts give full details of the income and expenditure for the year and the value of the assets and liabilities at the year end. The information below is given to supplement these formal accounts.
The value of the Charitable Funds as at 31 March 2021 was £1,038,000 (2019/20: £876,000). The net movement in value is an increase of £162,000 (2019/20: -£134,000) and which was attributable to;
-
Unrealised gain on investment which amounted to £184,000 (2019/20: -£164,000)
-
Total expenditure of £259,000 (2019/20: £179,000)
-
Total income of £237,000 (2019/20: £209,000)
The direct charitable expenditure is charged to the accounts on an accrual basis, and was in line with the objectives of the Charity. The total expenditure for the year of £259,000 can be further analysed as follows,
-
Expenditure on patient welfare of £127,000 – this includes an additional palliative care support service, cycling sessions, music therapy, games and leisure activities and improvements to outside areas.
-
Expenditure on staff welfare of £100,000 – this includes courses and books, support health and fitness, equipments and hot meal during Covid-19 pandemic.
-
Expenditure on fundraising activities £1,000.
-
Expenditure on support costs of £31,000.
The General Charitable Fund does not directly employ any staff; however a governance (support) cost to cover staff time was made by Essex Partnership University NHS Foundation Trust. Governance costs are charged across the funds based on the proportion of funds held, and are considered each year by the Charitable Funds Committee.
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
12. OPEN ARTS PROJECT
Open Arts is a charitable community arts and mental health service managed by the Trust, which helps to improve and maintain mental health and wellbeing. Open Arts is not funded by the NHS but operates completely on external funding, donations and fundraising by participants, volunteers and local businesses.
What a year it has been! As the world continued to live in a global pandemic, the Open Arts service continued to adapt its delivery, the health and wellbeing of participants and volunteers has always been at the forefront. Open Arts provides structure, which for many is also a safety net. Knowing that activities and weekly contact continues to be a regular weekly occurrence, has been a lifeline to many of our participants, and continues to help them to manage their mental health. Where many clubs, appointments and sessions closed, Open Arts continued delivering:
500 Client 'In the Open Arts' sessions/Zoom 139 Volunteer Studio/Course & Community Engagement hours /Sessions 1690 Estimated People Attending Community Engagement Activities 60 participants and volunteers received regular weekly contact from Open Arts
"… let's not forget a very important part, the one who holds it all together, who remains cheerful and supportive with constant empathy and energy... you! Thank you Jo (and all your staff and volunteers). Open Arts would not be the same without you x"
"I am honoured to be, and love being, a volunteer at Open Arts... Also thank you for being the great person that you are Jo - you work tirelessly keeping Open Arts running as well as caring for our welfare collectively, and supporting/listening to us individually. I will never be able to thank you enough for the way you and Open Arts have changed my life so much for the better! - Lorraine"
As a result of Open Arts participation, substantial benefits have been reported, including improved mental health, increased social activity, greater confidence and self-esteem, reduced use of mental health services and increased take up of wider community based opportunities.
A heartfelt thank you to the Open Arts team; our artists and volunteers, friends, members and participants. For the funding and support received from Fowler, Smith & Jones Trust, the Co-op and EPUT.
If you can help support Open Arts or would like information on how you can, please contact Epunft.open.arts@nhs.net or call Jo Keay, Open Arts manager, on 07580 982462
You can donate online via CAF www.cafonline.org search for Essex Partnership NHS Foundation Trust Charities or 1053793. Please make sure you type For Open Arts in the message box. Thank you.
A summary of the income streams and resources expended relating to Open Art is detailed below;
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
| Statement of Financial Activities | |
|---|---|
| 2020/21 | |
| Incoming resources from; | £ |
| Various donation | 2,377 |
| Investment income | 930 |
| Gain from investment valuation | 4,786 |
| Total income | 8,093 |
| Resources expended on | |
| Charitable fund activities | (8,147) |
| Administration and other cost | (808) |
| Total expenditure | (8,955) |
| Net income/(expenditure) for the year | (862) |
| Fund balance at the beginning of the year | 21,092 |
| Fund balance at the end of the year | 20,230 |
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
13. THE TRUSTEES
The Trustees for the “The General Charitable Fund” for the year ended 31 March 2021 are as follows:
| Professor Sheila Salmon | - | Trustee |
|---|---|---|
| Sally Morris | - | Trustee (until 30/09/2020) |
| Paul Scott | - | Trustee (from 01/10/2020) |
| Andy Brogan | - | Trustee (until 23/10/2020) |
| Alex Green | - | Trustee (from 24/10/2020) |
| Mark Madden | - | Financial Trustee (until 30/09/2020) |
| Trevor Smith | - | Financial Trustee (from 01/10/2020) |
| Dr Milind Karale | - | Trustee |
| Nigel Leonard | - | Trustee |
| Professor Natalie Hammond | - | Trustee |
| Sean Leahy | - | Trustee |
| Janet Wood | - | Trustee |
| Alison Davis | - | Trustee |
| Amanda Sherlock | - | Trustee |
| Nigel Turner | - | Trustee (until 30/09/2020) |
| Manny Lewis | - | Trustee |
| Dr Rufus Helm | - | Trustee |
| Dr Alison Rose-Quirie | - | Trustee |
| Dr Mateen Jiwani | - | Trustee (from 18/01/2021) |
| Loy Lobo | - | Trustee (from 31/03/2021) |
All appointments to the Board of Directors of the Essex Partnership University NHS Foundation Trust Board are also the appointed Trustees of the Essex Partnership NHS Foundation Trust General Charitable Fund. Non-Executive Directors are normally appointed for a fixed term of three years.
14. ADMINISTRATION ARRANGEMENTS
The Trust holds monthly Board of Directors meetings, which include an update from the Charitable Funds Committee at least twice a year. The day-to-day management of the restricted funds has been delegated to Fund Managers who have delegated authority to approve expenditure of up to £5,000 or the balance of fund (whichever is lower).
The Board of Directors has delegated the management of the unrestricted funds to the Chief Executive of the Foundation Trust.
The Board of Directors has retained approval of expenditure commitments of a recurring nature and approval of expenditure over £10,000, with the Charitable Funds Committee approving expenditure of above £5,000 and up to £10,000.
15. INDEPENDENT EXAMINERS
NHS Funds held on Trust are subject to the 2011 Charities Act, which superseded the 2006 Charities Act and states that all Charities with a gross income of more than £25,000 are required to have some form of external scrutiny of their accounts. In addition, if the Charity has gross income in excess of £1 million in the period of account, or if its gross income exceeds £250,000 and the aggregate value of assets (before deduction of liabilities) exceeds £3.26 million, then the accounts will be subject to a full audit.
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Essex Partnership University NHS Foundation Trust Charitie
Charitable Funds Accounts 2020-21
For the year ended 31 March 2021 the Charities income was below the £1 million threshold and as such the annual report and accounts will not therefore be subject to a full audit. However, due to the Charities having income in excess of the £25,000 threshold, they will instead be subject to an independent examination as required by the Charities Act 2011.
16. ACKNOWLEDGEMENTS
The Trustees acknowledge the generous contributions and donations made by the public, as well as the time and commitment of staff.
17. APPROVAL
This report was approved by the Trustees and signed on their behalf.
Professor Sheila Salmon Chair
Date: 26[th] January 2022
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Charitable Funds Accounts 2020-21
Statement of Trustees’ Responsibilities
The Trustees are responsible for:
-
keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the funds held on trust and to enable them to ensure that the accounts comply with requirements in the Charities Act 2011;
-
establishing and monitoring a system of internal control; and
-
establishing arrangements for the prevention and detection of fraud and corruption.
The Trustees are responsible for the preparation of financial statements in accordance with the Charities Statement of Recommended Practice (FRS 102) Accounting and Reporting by Charities for each financial year. The Charity Commission directs that these accounts give a true and fair view of the financial position of the funds held on trust, in accordance with Charities SORP (FRS 102). In preparing these accounts the Trustees are required to:
-
apply on a consistent basis, accounting policies laid down by applicable accounting standards;
-
make judgements and estimates which are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees confirm that they have met the responsibilities set out above and complied with the requirements for preparing the accounts. The financial statements set out on pages 1 to 13 attached, have been compiled from and are in accordance with the financial records maintained by the Trustees.
By Order of the Trustees
Signed:
Chair Date: 26[th] January 2022
Financial Trustee Date: 26[th] January 2022
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Charitable Funds Accounts 2020-21
Independent examiner’s report to the trustees of Essex Partnership University NHS Foundation Trust Charities
I report on the accounts of the Trust for the year ended 31 March 2021 , which are set out on pages 2 to 13.
Respective responsibilities of trustees and independent examiner
The charity’s trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Use of our report
This report is made solely to the trustees, as a body, in accordance with our engagement letter dated 25 January 2020. The examination has been undertaken so that we might state to the trustees those matters that are required to be stated in an examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for this examination, for this report, or for the statements made.
Debbie Hanson For and on behalf of Ernst & Young LLP Relevant professional qualification or body: CIPFA Address: 400 Capability Green, Luton, LU1 3LU
Date: 27 January 2022
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Essex Partnership University NHS Foundation Trust Charitie
Charitable Funds Accounts 2020-21
FUNDS HELD ON TRUST ACCOUNTS 2020/21
The accounts of the funds held on Trust by Essex Partnership University NHS Foundation Trust
Foreword
These accounts have been prepared by the Trust under section 98(2) of the National Health Service Act 1977 (as amended) in the form which the Secretary of State has, with the approval of the Treasury, directed.
The Essex Partnership University NHS Foundation Trust is the corporate trustee of the funds held on trust under paragraph 16c of Schedule 2 of the NHS and Community Care Act 1990. The Trustees have been appointed under s11 of the NHS and Community Care Act 1990.
The Essex Partnership NHS Foundation Trust Charitable Funds Held on Trust are registered with the Charity Commission. The main purpose of the charitable funds held on trust is to apply income for any charitable purpose relating to the National Health Service wholly or mainly for the services provided by the aforementioned organisations.
If you require any further information regarding these accounts please contact:
The Executive Chief Finance Officer Essex Partnership University NHS Foundation Trust Trust Head Office The Lodge Lodge Approach Runwell Wickford Essex SS11 7XX
Telephone: 01268_739666
Trevor Smith Financial Trustee
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Essex Partnership University NHS Foundation Trust Charitie
Charitable Funds Accounts 2020-21
Statement of Financial Activities for the Year ended 31 March 2021
| 2019/20 Unrestricte Restricted Endowment Total Total Funds Funds Funds Funds Funds Note £000 £000 £000 £000 £000 Incoming Resources from: Donation, grant and legacies 2 198 2 - 200 140 Other trading activities 3 2 - - 2 26 Investment income 4 15 20 - 35 43 Total income 215 22 - 237 209 Resources Expanded on: Charitable activities 5 (227) (32) - (259) (179) |
2019/20 Unrestricte Restricted Endowment Total Total Funds Funds Funds Funds Funds Note £000 £000 £000 £000 £000 Incoming Resources from: Donation, grant and legacies 2 198 2 - 200 140 Other trading activities 3 2 - - 2 26 Investment income 4 15 20 - 35 43 Total income 215 22 - 237 209 Resources Expanded on: Charitable activities 5 (227) (32) - (259) (179) |
|---|---|
| Total expenditure | (227) (32) - (259) (179) |
| Net gain/(losses) on investments 6 |
79 105 - 184 (164) |
| Net income/(expenditure) Transfers 12 |
67 95 - 162 (134) - - - - - |
| Net movement in funds Reconciliation of funds Total fund balance brought forward |
67 95 - 162 (134) 336 512 28 876 1,010 |
| Total fund balance carried forward | 403 607 28 1,038 876 |
The statement of financial activities includes the income and expenditure account. The notes are at pages 5 to 13 and form part of this document.
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Essex Partnership University NHS Foundation Trust Charitie
Charitable Funds Accounts 2020-21
Balance Sheet as at 31 March 2021
----- Start of picture text -----
Unrestricted Restricted Endowment Total Total
Funds Funds
Funds Funds Funds 2020/21 2019/20
Note £000 £000 £000 £000 £000
Fixed Assets
Investments 7 385 580 27 992 808
Total fixed assets 385 580 27 992 808
Current Assets
Debtors 8 - - - - 1
Short term investments & deposits 9 4 7 - 11 11
Cash at bank and in hand 10 19 27 1 47 71
23 34 1 58 83
Current Liabilities
Creditors: Amounts falling due
within one year 11 (5) (7) - (12) (15)
Net current assets 18 27 1 46 68
Total assets less current liabilities 403 607 28 1,038 876
Creditors: Amounts falling due
after more than one year - - - - -
Provisions for liabilities and charges - - - - -
Total Net Assets 403 607 28 1,038 876
The funds of the charity
Total restricted funds 13 - 607 - 607 512
Total unrestricted funds 13 403 - - 403 336
Total Endowment funds 13 - - 28 28 28
Total charity funds 403 607 28 1,038 876
----- End of picture text -----
The notes are at pages 5 to 13 form part of this document.
Signed:
Date: 26[th] January 2022
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
Statement of Cash Flow at 31 March 2020
| Statement of Cash Flow at 31 March 2020 | ||
|---|---|---|
| Note Cash flows from operating activities Net cash provided by/(used in) operating activities 10.2 Cash inflow/(outflow) from other activities 12 Cash flows from investing activities Dividends, interest from investments 4 Proceeds from sale of investments 7 Purchase of investments Net cash provided by/(used in) investing activities Cash flows from financing activities Repayment of borrowings Cash flows from borrowings Net cash provided by/(used in) financing activities Change in cash and cash equivalents during the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2020/21 Total Funds £000 (59) - (59) 35 - - 35 - - - (24) 71 47 |
2019/20 Total Funds £000 1 - 1 43 - - 43 - - |
| - | ||
| 44 | ||
| 27 | ||
| 71 |
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
NOTES TO THE ACCOUNTS
1. Accounting Policies
1.1 Accounting Policies
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice issued in October 2019 - Accounting and Reporting by Charities (FRS 102), and with accounting standards and policies for the NHS approved by the Secretary of State.
There have been no changes to accounting policy for the 2020/21 financial year.
1.2 Incoming Resources
-
a) All incoming resources are included in full in the statement of financial activities as soon as the following three factors can be met:
-
i) entitlement - arises when a particular resource is receivable or the Charity's right becomes legally enforceable;
-
ii) certainty - when there is reasonable certainty that the incoming resource will be received;
-
iii) measurement - when the monetary value of the incoming resources can be measured with sufficient reliability
-
b) Gifts in Kind
-
i) Assets given for distribution by the Charity are included in the Statement of Financial Activities only when distributed.
-
ii) Assets given for use by the Charity (e.g. property for its own occupation) are included in the Statement of Financial Activities as incoming resources when receivable.
-
iii) Gifts made in kind but on trust for conversion into cash and subsequent application by the Charity 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 Charity or the amount actually realised. The basis of the valuation is disclosed in the annual report.
c) Intangible Income
Intangible income (eg the provision of free accommodation) is included in the accounts with an equivalent amount in outgoing resources, if there is a financial cost borne by another party. The value placed on such income is the financial cost of the third party providing the resources.
1.3 Resources Expended
The Funds Held on Trust account is prepared in accordance with the accruals concept. A liability (and consequently, expenditure) is recognised in the accounts when there is a legal or constructive obligation, capable of reliable measurement, arising from a past event.
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
Resources expended are split into two main categories being the costs of generating funds and the actual costs of charitable activities. The costs of generating funds are the costs associated with generating income for the Funds Held on Trust. A grant is any payment which is made voluntarily to any institution or to an individual in order to further the Charity’s objectives, without receiving goods or services in return.
The cost of activities in the furtherance of charitable activities is expenditure incurred on the provision of services or goods. Support costs are an integral and material part of the costs of activities in the furtherance of charitable activities and/or expenditure incurred in paying grants. Management and administrative expenditure includes direct and indirect costs (as distinct from directly pursuing charitable activities). Direct costs include those of external and internal audit and legal advice for trustees, the indirect costs include office and communication costs.
1.4 Tangible Fixed Assets and Donated Assets
The General Charitable Fund has no retained fixed assets or donated assets.
1.5 Investment Fixed Assets
Investment fixed assets are shown at market value.
Quoted stocks and shares are included in the balance sheet at mid-market price, excluding dividend.
Other investment fixed assets are included at trustees’ best estimate market value.
Unrealised and realised gains and losses are shown in the statement of financial activities and represent the difference between the market value and the original purchase cost.
1.6 Structure of Funds
Where there is a legal restriction on the purposes to which a fund may be put, the fund is classified in the accounts as a restricted fund. Funds where the capital is held to generate income for charitable purposes and cannot itself be spent are accounted for as endowment funds. Other funds are classified as unrestricted funds. Funds which are not legally restricted but which the Trustees have chosen to earmark for set purposes are classified as designated funds. The major funds held within these categories are disclosed in note 12.
As at 31 March 2021 the Charity held one endowment fund.
1.7 Pension Contributions
There have been no pension contributions made by the Charity in the financial year ended 31 March 2021.
1.8 Prior Year Adjustments
There have been no changes to the accounts of prior years.
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1.9 Pooling Scheme
The General Charitable Fund is a Charitable Fund Umbrella which comprises general and specific purpose funds. As such funds are pooled for investment purposes. The funds included within the General Charitable Fund are as follows,
Essex Partnership University NHS FT General Fund District Nurses Fund Mental Health Charity Primary Care Charity Continuing Care Services Fund Psychiatric Research Fund Primary Care Trust Staff Welfare Fund Mental Health Research Foundation Learning Disabilities Psychiatry Academic and Research Foundation The Margaret Ethel Bolton Fund Cancer Care General Fund Child Health Directorate Fund Cancer Relief Fund
The scheme was registered with the Charity Commission on 18 December 2002.
1.10 Consolidation of Charity Accounts with EPUT Annual Accounts
IAS 27 on Consolidation and Separate Financial Statements, requires consolidation of a group of entities under the control of a parent where there exists the power to govern the financial and operational policies of an entity so as to obtain benefits from its activities. The Essex Partnership University NHS Foundation Trust is the corporate Trustee for the Charity and hence controls it. The purpose of the Charity is to assist NHS patients, and hence the Trust benefits from its activities. As such, IAS27 would normally be applicable in the preparation of the Trust’s main accounts and the Charity would be consolidated.
However, IAS1 on Presentation of Financial Statements confirms that specific disclosure requirements set out in individual standards or interpretations need not be satisfied if the information is not material. The net assets of the Charity represent 1% of the Trust’s total assets employed, and are therefore not considered to be material in the context of the Trust’s main accounts. The Audit Committee have noted and approved that the Charity Accounts will not be consolidated into the main Trust accounts for 2020/21. This is subject to an annual materiality review.
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
Note 2 Analysis of donations and legacies
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2020/21 2019/20
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£000 £000 £000 £000 £000 £000 £000 £000
Donations 25 2 - 27 14 17 - 31
Legacies 1 - - 1 - 99 - 99
Grant income 172 - - 172 10 - - 10
198 2 - 200 24 116 - 140
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Note 3 Analysis of income from other trading activities
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2020/21 2019/20
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£000 £000 £000 £000 £000 £000 £000 £000
Raffle tickets sales - - - - - - - -
Income received for
- - - - - 10 - 10
courses
Income from other
2 - - 2 8 1 - 9
fundraising activities
Other Income - - - - 7 - - 7
2 - - 2 15 11 - 26
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Note 4 Analysis of income from investments
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2020/21 2019/20
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£000 £000 £000 £000 £000 £000 £000 £000
BlackRock Investment 2 3 - 5 3 3 - 6
M&G Charities 14 16 - 30
10 13 - 23
COIF Charities Investment
3 4 - 7
Fund 3 4 - 7
15 20 - 35 20 23 - 43
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
Note 5 Analysis of expenditure on charitable fund activities
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2020/21|2019/20|
|Unrestricted|Restricted|Endowment|Total|Unrestricted|Restricted|Endowment|Total|
|£000|£000|£000|£000|£000|£000|£000|£000|
|Patients Welfare &|
|113|14|-|127|89|51|-|140|
|Amenities|
|Staff Welfare &|
|100|-|-|100|6|-|-|6|
|Amenities|
|Support Cost (see|
|13|18|-|31|14|15|-|29|
|note 5.1)|
|Fundraising|
|1|-|-|1|4|-|-|4|
|Expenditure|
|227|32|-|259|113|66|-|179|
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Note 5.1 Analysis of support cost by type
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||||||||||
|---|---|---|---|---|---|---|---|---|
|2020/21|2019/20|
|Unrestricted Restricted Endowment|Total|Unrestricted Restricted Endowment|Total|
|£000|£000|£000|£000|£000|£000|£000|£000|
|Audit fee|2|3|-|5|1|1|-|2|
|Admin fee|11|15|-|26|13|14|-|27|
|13|18|-|31|14|15|-|29|
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Note 5.2 Analysis of support cost by activities
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|||||||||
|---|---|---|---|---|---|---|---|
|2020/21|2019/20|
|Unrestricted Restricted Endowment|Total|Unrestricted Restricted Endowment|Total|
|£000|£000|£000|£000|£000|£000|£000|£000|
|Patients Welfare &|
|7|18|-|25|12|15|-|27|
|Amenities|
|Staff Welfare &|
|6|-|-|6|2|-|-|2|
|Amenities|
|13|18|-|31|14|15|-|29|
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Note 6 Gain/(losses) on investments revaluation
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2020/21 2019/20
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£000 £000 £000 £000 £000 £000 £000 £000
BlackRock Investment 18 24 - 42 (14) (19) - (33)
M&G Charities 43 57 - 100 (55) (70) - (125)
COIF Charities
18 24 - 42 (2) (4) - (6)
Investment Fund
79 105 - 184 (71) (93) - (164)
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
Note 7 Fixed Asset Investments
Note 7.1 Changes in Fixed Asset Investments
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2020/21 2019/20
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£000 £000 £000 £000 £000 £000 £000 £000
Market Value at 1 April 306 475 27 808 378 565 29 972
Transfers/Disposals - - - - - - - -
Dividends re-invested - - - - - - - -
Net Gain/(Loss) on
79 105 - 184 (71) (93) - (164)
Revaluation
Total Market Value of
Fixed Asset 385 580 27 992 307 472 29 808
Investments
Note 7.2 Analysis of Fixed Asset Investments by Investment Manager
2020/21 2019/20
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£000 £000 £000 £000 £000 £000 £000 £000
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2020/21 2019/20
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£000 £000 £000 £000 £000 £000 £000 £000
BlackRock Investment
83 124 6 66 100 5 171
Managers (UK) Ltd 213
M & G Securities Ltd 207 310 15 532 163 252 17 432
CCLA Investment
96 144 7 78 120 7 205
Management 247
Total Market Value of
Fixed Asset 386 578 28 992 307 472 29 808
Investments
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
Note 8 Analysis of recievables due within one year
| Note 8 Analysis of recievables due within one year | Note 8 Analysis of recievables due within one year | |
|---|---|---|
| 2020/21 Unrestricted Restricted Endowment Total £000 £000 £000 £000 |
2019/20 Unrestricted Restricted Endowment Total £000 £000 £000 £000 |
|
| Sundry Debtors | - - - - |
- 1 - 1 |
| Value as at 31 March | - - - - |
- 1 - 1 |
Note 9 Short term investments & deposits
| Note 9 Short term investments & deposits | Note 9 Short term investments & deposits | Note 9 Short term investments & deposits |
|---|---|---|
| 2020/21 2019/20 Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total £000 £000 £000 £000 £000 £000 £000 £000 |
||
| COIF Charities deposits funds |
4 7 - 11 4 7 - 11 cash and cash equivalent |
4 7 - 11 |
| Value as at 31 March Note 10 Analysis of |
4 7 - 11 |
|
| 2019/20 |
| 2020/21 | 2019/20 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Unrestricted | Restricted | Endowment | Total | |
| £000 | £000 | £000 | £000 | £000 | £000 | £000 | £000 | |
| Cash at bank and in hand |
19 | 27 | 1 | 47 | 30 | 41 | 0 | 71 |
| Value as at 31 March | 19 | 27 | 1 | 47 | 30 | 41 | 0 | 71 |
| Note 10.1 Analysis of cash and cash equivalents | ||||||||
| 2020/21 | ||||||||
| £000 | ||||||||
| Cash at bank | 44 | |||||||
| Cash in hand | 3 |
| £000 | |||
|---|---|---|---|
| Cash at bank | 44 | ||
| Cash in hand | 3 | ||
| Value as at 31 March | 47 | ||
Note 10.2 Reconciliation of net income/(expenditure) to net cash flow from operating activities
| Net income/(expenditure) for the year as per the SoFA (Gain) and losses of investment Dividends, interest from investments (increase)/decrease in stocks (increase)/decrease in debtors increase/(decrease) in creditors Net cash provided by (used in) operating activities |
2020/21 2019/20 £000 £000 162 (134) (184) 164 (35) (43) - - 1 17 (3) (3) (59) 1 |
|---|---|
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
Note 11 Analysis of Creditors
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2020/21 2019/20
Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total
£000 £000 £000 £000 £000 £000 £000 £000
Amounts falling due within
1 year:
Intercompany creditors 1 1 - 2 - 1 - 1
Accruals 4 6 - 10 5 8 1 14
Total Creditors 5 7 - 12 5 9 1 15
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Note 12 Reconciliation of fund balance at 31 March 2021
| Balance at **31/03/2020 ** |
**Income ** | Expenditure | Unrealise gain(losses) |
**Transfers ** | Balance at 31/03/2021 |
|
|---|---|---|---|---|---|---|
| £000 | £000 | £000 | £000 | £000 | £000 | |
| Restricted funds | 512 | 22 | (32) | 105 | - | 607 |
| Unrestricted funds | 336 | 215 | (227) | 79 | - | 403 |
| Endowment funds | 28 | - | - | - | - | 28 |
| Total funds as per balance sheet |
876 | 237 | (259) | 184 | - | 1,038 |
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Essex Partnership University NHS Foundation Trust Charitie Charitable Funds Accounts 2020-21
Note 13 Trustee and Related Party Transaction
Essex Partnership University NHS Foundation Trust is the Corporate Trustee (the Trust) of the Essex Partnership NHS Foundation Trust General Charitable Fund (the Charity). During the year the Charity paid £26,788 to the Trust, to cover costs incurred by the Trust in administering the Charity, on its behalf.
During the year none of the Trustee Board members or parties related to them has undertaken material transaction with the Charity.
Note 14 Trustees Remuneration and Benefits
There was no remuneration or other benefits paid to Trustees during the year.
Note 15 Staff Cost and Other Benefits
The Charity does not directly employ any staff. As such, there were no staff costs or other staff benefits incurred during the year.
Note 16 Contingencies
There are no contingent losses or gains known by the Trustees.
Note 17 Commitments, Liabilities and Provisions
There are no commitments, liabilities or provisions known by the Trustees.
Note 18 Post Balance Sheet Events
There are no post balance sheet events for the reporting period.
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