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2021-03-31-accounts

NHS South Warwickshire NHS Foundation Trust NHS swft . CHARITY * Sprinkle Some Magic ANNUAL REPORT FOR YEAR ENDING 31 MARCH 2021

Introduction

South Warwickshire NHS Foundation Trust (the Trust) has a Charitable Fund (the Charity) to generate fundraising income, in order to enhance NHS services. SWFT Charity (Reg No. 1056424) is an umbrella charity for 130 charitable funds. The Trust is responsible for managing a range of funds including:

· Warwick General Purpose Fund ·Stratford Hospital Charitable Fund ·Aylesford Unit Patients Fund ·CERU Charitable Fund ·Cardiology Unit Patients Fund ·Ellen Badger Patients General Fund ·Special Care Baby Unit Fund ·Palliative Care Community Fund ·Birth and Babies Charitable Fund

The Role of the Charity

SWFT Charity exists to deliver public benefit by enhancing the care, treatment and facilities of patients, families and visitors accessing services at South Warwickshire NHS Foundation Trust. The charity also invests in staff training and wellbeing as it recognises that through improved staff wellbeing, patients receive a higher standard of care. Through charitable giving and fundraising, the Charity aims to provide valuable support above and beyond those provided by NHS core funding. The charity works alongside our NHS colleagues to identify and deliver projects that benefit the patients and families. We also work closely with many local individuals, corporates and community groups to help make a difference.

The key aim of the charity is to help "Sprinkle Some Magic" in specific ways including:

We are able to offer support in these areas through income generated in the following ways:

Donations

Corporate partnerships

Management

The Charity has a Fundraising Team, which comprises of two fulltime staff members, a Fundraising Manager and a Fundraising Coordinator. The team, managed by the Head of Communications and Fundraising, are responsible for the coordination, management and reporting of appeals as well as providing support and advice to staff on the Trust’s wards and departments about their individual income generation activities. The team act as the public interface and day-to-day contact for donors and fundraisers. They are also responsible for promoting and marketing the charity in the wider local community. All fundraising staff are employed by the Trust and the costs are recharged to the Charity.

Within the Trust’s Finance Team, there is a designated Charitable Funds Finance Officer along with a Finance Manager who also supports work on the finances. The team is responsible for the maintenance of accounting records and administration of funds. These salaries costs are also recharged back to the Charity.

- 2020 21: The year at a glance

The onset of Covid in March 2020 presented a number of challenges for SWFT Charity. The impact of the virus made it necessary for the team to review and adapt ways of working and fundraising whilst operating safely within the government guidelines. With face to face and mass participation events being cancelled, this meant that many fundraising initiatives had to be replaced by a virtual format.

With the more conventional and traditional ways of fundraising being put on hold, many of our supporters found new and innovative ways to raise funds for their chosen wards and departments. The broad and alternative range of fundraising undertaken was truly inspirational. In cases where mass participation events were postponed, many of our supporters still pressed ahead to fulfil their fundraising commitments by completing solo virtual sponsored runs and cycles, demonstrating great resolve and endless determination.

In April 2020, SWFT Charity launched the Covid-19 SWFT Support Appeal. The purpose of the appeal was to raise funds to support the health and wellbeing of the staff throughout this difficult time. A dedicated fund, the “Staff Wellbeing” Fund was set up to host donations from the appeal. Thanks to the generosity of individuals, community groups and corporates in the local area, the appeal raised £55,500. The funds have and continue to be used in a number of ways including:

As the virus evolves and working practices change, the charity team continue to promote the awareness of the new fund among staff as well as through the staff Health and Wellbeing Group, encouraging staff to identify additional ways in which the charity can offer support at this difficult time.

Since the start of the pandemic, there has been a huge national outpouring of love for the NHS. Through the amazing fundraising efforts of the late Sir Captain Tom Moore along with others, SWFT Charity benefited by receiving grants totalling £174,000 from NHS Charities Together. Additional financial support is expected in 2021-22.

Thanks to the aforementioned financial support, we were able to help our staff and patients during these trying times in many ways including:

Throughout the year, there were also many other opportunities in which SWFT Charity was able to help “sprinkle some magic” across the Trust, some examples can be found below:

Over the course of the year, SWFT Charity received a total of over £413,000 legacies and are extremely grateful to the 14 individuals for remembering South Warwickshire NHS Foundation Trust in their wills. These legacies will help greatly in our care of future patients.

During the last 12 months, the Fundraising team has continued to develop the charity brand. One of the most significant developments has been the opening of the SWFT Charity Hub. The new facility, located by the main entrance of Warwick Hospital, provides an onsite charity base/presence while acting as a public interface between the charity and supporters.

In June, three contactless payment devices were introduced and installed at the Warwick and Leamington Spa sites. The new devices provide a straightforward and easy way for those wishing to make a donation.

The online payment platform via the SWFT Charity website was also extended. Following website development, the system now allows donors to make credit/debit payments via Worldpay. Since its inception, the new facility has resulted in a significant increase in the number of online donations.

Building on from earlier staff engagement in 2019/20, we have continued to experience an extremely positive increase, year on year, in the amount of fundraising undertaken by our staff. Many teams hosted virtual raffles, took on personal sponsorship challenges and organised virtual fundraising events for their wards/departments/service. In all cases, the staff identified specific items that the funds would be used for to help enhance the experience of their patients.

SWFT Charity Contactless Donation Box

How You' ~~a~~ ve Helped! ~~De~~

~~De~~

Despite the challenges presented by Covid, government restrictions did not deter or dampen the enthusiasm of our inspirational fundraisers during 20/21. SWFT Charity supporters, faced with the limitations of lockdown sought out a variety of ways in which to continue to fundraise.

Many traditional forms of fundraising such as raffles, teas and runs became virtual events. Here are just a few examples below...

Friends Jodie Blackwell and Jo McGaffin organised an online raffle. The local businesswomen reached out to their local small business community appealing for donations. With over 60 firms donating raffle prizes, the raffle raised an amazing £4,475 for the staff wellbeing fund.

Scott Simpson, Owner and MD of local company Auto Fasteners asked family and friends to take up a running challenge. The company donated £10 for every KM completed. An amazing 138 runners clocked up 1050km, resulting in a £10,500 donation for the Warwick General Purposes Fund.

Due to lockdown restrictions, it was not possible for the annual Warwickshire Bluebell Walk to take place. However, the land owners, Jon and Jo Haimes successfully managed to take the beautiful scenes of the bluebells to the local community by making a video and offering a virtual viewing. Through online donations, an incredible £3,130 was raised for the staff wellbeing fund.

During 2020/21, SWFT Charity also received some amazing support from our junior fundraisers.

Faced with the limitations of lockdown, young minds devised some innovative ways to fundraise safely during the pandemic while support causes close to their hearts. Some of these inspirational fundraisers included...

Local twins Lottie and Jude wanted to raise funds for our Children's Ward. During May, the siblings walked 60 miles and raised £1,120 for the MacGregor Ward Fund.

Trusts and Foundations

During 2020-2021, SWFT Charity gratefully received a total of £208,822 from charitable trusts and foundations. Grants were received from the following:

•NHS Charities Together

•The 29th May1961 Charitable Foundation •SWFT Clinical Services •The Screwfix Foundation •Lillie Johnson Charitable Trust •NFU Mutual Charitable Trust •Warwickshire District Council •The Blakemore Foundation •WPH Charitable Trust •Austin Edwards Charitable Trust •Edward and Dorothy Cadbury Charitable Trust •Heart of England Co-operative Society Ltd •Tesco “Bags for Life” Scheme

Management of the Charitable Fund

Organisation Structure

Under the terms of the Trust Deed, the SWFT Charity is administered and managed by the Corporate Trustee, South Warwickshire NHS Foundation Trust, with Mr. Glen Burley as Chief Executive. Therefore, the Charity Trustee comprises of the Executive Directors and Non-Executive Directors of South Warwickshire NHS Foundation Trust and is appointed in accordance with the Foundation Trust’s constitution (see Appendix A for details of the Directors). Trustees meetings are held on a quarterly basis.

Members of the Charity Trustee receive Trust induction and training, in conjunction with Trust’s Constitution, policies and procedures that are made available to them. The Trustee is aware of the Charity’s Commission’s publication on public benefit, and this guidance is adhered to when making decisions.

A Fundraising Manager and Fundraising Coordinator are now in place and are responsible for liaising with staff, patients, visitors and external stakeholders to encourage fundraising across the SWFT Charity. The team are overseen by the Head of Communications and Fundraising. Throughout the year the team implemented a number of campaigns to raise awareness of SWFT Charity and this is across the wide range of channels including social media, posters and press releases to publicise fundraising activity.

The Fundraising team is responsible for the day to day administration and finance function of the Charity, under the direction of the Director of Finance of the Trust.

Decision Making

Prior to committing the Charity to expenditure, a detailed description must be given on a Charitable Expenditure Form and approval is given when all of the criteria are attained. The financial limits are as follows:

Up to £5,000 Fund Manager Between £5,000 and £15,000 Chief Executive & Managing Director More than £15,000 Trustee

Applications for items above £15,000 which are made between Trustee meetings can be authorised by the Managing Director and Director of Finance jointly. These applications are subsequently taken to the Trustee meeting for confirmation at the next available meeting.

Unauthorised forms, or those only containing one signature, are returned to the originator for authorisation before any payment is made.

Sources of Funds

The main sources of funds to the Charity continue to come from three main sources namely:

The Charity recognises the importance of all these sources of income and works hard to build relationships with both the local community and grant making trusts in order to maximise income.

Donations/Legacies Processes

By working closely together, the Fundraising and Finance teams have developed and streamlined the process for dealing with donations. This process has been facilitated and enhanced through the use of the Harlequin CRM system. All communication between the charity and supporters are recorded and stored on the database. A proactive and routine approach is also in place to reclaim Gift Aid on all donations, whenever possible. Regular monthly meetings are held between the two functions.

In addition to donation envelopes now being present on many of the wards/departments within the Trust, a number of bespoke charity displays have been added over the last year outside wards and on hospital corridors. These additional graphics provide information and highlight how to make donations / obtain fundraising information and include full charity contact details. Visitors to the Warwick hospital site will also find pop up banners advertising the new charity hub and where to find it.

General Data Protection Regulator (GDPR)

The Charity complies with GDPR and is able to assure our supporters that

The Charity has not received any complaints about its fundraising activities during the year

Financial Report

During the year, the charity received funds totalling £939,000 from donations, legacies, grants, fundraising activities and investment income. A breakdown of the various income streams is displayed below:

The Charity’s expenditure mostly took the form of grants made payable to South Warwickshire NHS Foundation Trust. The diagram below displays a breakdown of the areas of the £281,000 grants awarded.

The remainder of the charitable expenditure reported in the accounts relates to support cost allocations (£31,000) and fundraising costs (£92,000). se

The Trustee has continued to use funds to enhance the experience and environment for patients’, beyond the normal NHS provisions. During 2020/21, this has included:

£94,000 spent on supporting patients around the Trust, including: e Member of staff for Haematology to support research; e Member of staff for Oncology to support research.

Some of the purchases made during 2020/21 can be viewed below

Through funds raised by local mum Liz Roberts and baby son, Theo, staff on MacGregor Children’s Ward were able to purchase a sensory trunk. The new kit houses a store of sensory equipment that is ideal for therapy, education and play activities.

With visiting restrictions due to the pandemic, SWFT Charity liaised with the Patient Activity Coordinator, using funds to create activity packs. At these challenging times, the packs helped to keep patients of all ages entertained during hospital stays.

As of 31 March 2021, the Charity has total funds of £1,494,000 split across the 3 classifications of funds as follows:

Endowment: where the “lump sum” donation remains the same and only the interest is available for use. Investment gains are added to the fund. The balance at 31 March 2021 was £5k (31 March 2020 £5k)

Restricted: where the donation has been made for a specific purpose – this usually applies to legacies and appeals. The balance at 31 March 2021 was £391k (31 March 2020 £40k)

Unrestricted: where the donation was general and is therefore available for any charitable purchase. The balance at 31 March 2021 was £1,098k (31 March 2020 £913k)

The Charity tries to manage funds in such a way as to ensure that there is flexibility over their use, as this ensures that small balances do not remain unused. As such restricted funds are kept to an absolute minimum. However, it is also very important to the Trustee that donors’ wishes are complied with wherever possible. The majority of personal donations come from patients or relatives who wish to donate to particular wards or departments to say “thank you” for the support received during treatment. It is vital that this money is spent in the way that the donor wishes.

Plans for 2021/22

Over the coming year, we plan to continue to dedicate resource to grant writing. We will be approaching a number of Trust and Foundations, requesting funding support for a range of projects identified through working closely with our Trust colleagues. As we start to emerge from the pandemic, we also have a number of events planned. These are as follows:

Other areas of focus for the SWFT Charity Team during 2021/22 will include:

Policies

The Funds Objectives and Procedures for the Deployment of Resources

The Charity’s objectives are set out in the Trust Deed and state that monies collected can be applied to any charitable purpose or purposes relating to the National Health Service. The Charity is used for the public benefit.

The Charity’s Investment Policy and withdrawals from the Charity are determined by the Trustee. Expenditure can only be incurred following the submission and subsequent approval of a “Request for Use of Donated Monies” form by a member of staff in accordance with the Trust’s Standing Financial Instructions.

With the exception of restricted funds, the objectives and aims of charitable funds expenditure is to be in line with one or more of the following priorities:

Spending priorities are reviewed annually by the Trustee.

The Trustee reviews the overall spend of the Charity on a quarterly basis to ensure that spend continues to support the objectives above.

Reserves

Trustee has a general policy not to accumulate funds in reserves but to utilise donations in accordance with the wishes of the donor as soon as is practically possible. The Charity does not have a specified target level of revenue or reserves. However, the Trustee is currently reviewing policies and will consider this aspect within the revised policy. Accumulated reserves at 31 March 2021 were £1,098k compared with £913k at 31 March 2020. This represents the unrestricted balances held by the charity.

The Trustee is mindful of the increase in reserves year on year but has acknowledged that the opportunities for clinical staff on the front line have been limited by the extremely difficult circumstances through 2020/21. In addition, the charity has also been grateful for the higher level of donations received, including from the national NHS Charity’s Together campaign.

Each year, managers of individual funds are asked to submit spending plans for the funds under their control and these are reviewed by the Trustee. Part of this review is to ensure that funds are used in the most appropriate way and in a way that is consistent with the overall planning process for South Warwickshire NHS Foundation Trust. As such there will be occasions where balances are built up in order to cover a larger item of equipment etc. Financial reports are prepared for individual ward managers/heads of department and monitoring reports are prepared for the Trustee meetings in order for them to discharge this review process.

Managing Risk

South Warwickshire NHS Foundation Trust has in place risk and governance policies in line with guidelines issued by the NHS.

The key risks associated with the SWFT Charity are in the main financially orientated. These risks include:

Risks surrounding charitable funds are reviewed by the Charitable Trustee during the year. In particular the following measures are in place:

Management Renumeration

No members of management are remunerated for their work relating to the charitable fund.

Related Parties

Patients of the Trust are the main beneficiary of the Charity. The Trust is the immediate parent and the Department of Health is the ultimate controlling party for the Trust. The Charity incurred charitable expenditure relating to the Trust, in the furtherance of its charitable objectives. During the year none of the members of the NHS Board of Directors' or senior

Going Concern

Expenditure is only authorised after it has been ascertained that there are sufficient funds within the individual charitable fund to support the expenditure. In addition, the Trustee asks fund managers to submit annual spending plans.

The Trustee therefore has a reasonable expectation that the Charity has adequate cash reserves to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing these accounts.

SWFT Charity Legal & Administrative Info

Corporate Trustee

South Warwickshire NHS Foundation Trust Lakin Road Warwick CV34 5BW

Registered Office

South Warwickshire NHS Foundation Trust Lakin Road Warwick CV34 5BW

Names and Addresses of Advisors

Bankers

Lloyds Bank Plc 12 Swan Street Warwick CV34 4BJ

Royal Bank of Scotland / Government Banking Service 2nd Floor 280 Bishopsgate London EC2M 4RB

Auditor

Deloitte LLP 1 City Square Leeds LS1 2AL

Solicitors

Mills & Reeve LLP 78-84 Colmore Row Birmingham B3 2AB

Donations

All donations are gratefully received. Donations can be made by post or in person to the cashiers’ office at Warwick Hospital. Cheques should be made payable to SWFT Charity.

Appendix A

Corporate Charity Trustee

Executive Directors

Mr Glen Burley Chief Executive

Mrs Anne Coyle Managing Director (from May 2020) Mrs Jayne Blacklay Managing Director (until May 2020) Mrs Kim Li Director of Finance

Dr Charles Ashton Medical Director

Mrs Helen Lancaster Director of Operations Ms Fiona Burton Director of Nursing

Non- Executive Directors

Russell Hardy Chairman Bruce Paxton Rosemary Hyde Simon Page Sue Whelan Tracy Chris Lewington Geoff Benn

Trustees' Statement of Responsibilities

The trustees are responsible for preparing the Trustee’s Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) , including FRS 102“The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

The law applicable to charities in England and Wales requires the trustees 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 trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are 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 trustees are 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 trustee:

Glen Burley - Chief Executive Date: 31/01/2022

SWFT CHARITY

ACCOUNTS

For the year ended 31 March 2021

lead

Independent auditorfs report to the trustees ol sw￿ Charity Report on the audlt of the finan¢lal statements Opbnion In our opinion the financial 5taternents of sw￿ Charity Ithe 'charityl- give a tTue and fair view of the state of the ch8riV5 affairs as at 31 March 2021 anij of its incoming resources and appllcation of resources for the year then ended." have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice including Financial Reporting Standard 102 The F*nancial Reporting StandaTd applicable in the UK and Republic of Ireland- and have been prepared in accordance with the requirements of the Charitie5 Act 2011. We have audited the financial statements which comprise_. the Statement of Financial Activ¢tie5- the Balance Sheet- the Cash Flow Statement.. and the related notes I to 17 The financial reporting framework that has been applied in their preparation is applicable law and Untted Kingdom AccountinE Stsndards. Including Financial Reportlng Standard 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland~ (United Kingdorn Generally Accepted AccountinB Practicel_ Basis for opinion We conducted our audit in accordance with International Standard5 on Auditing IUKI IISAS IUKII ond applicable law. Our responsibilities under those standards are further described in the auditor's responsSblllties for the audit of the financial ststements section of our report. We are independent of the charlty in accordance with the ethical ￿QUIreMents that are relevant to our audit of the financial statements IT) the UK, including the Financial Reporting Council's {the FRC'SI Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements_ We believe that the alsdtt evidence we have obtained is su￿1Clent and appropriate to provide a basis for our opinion. Conclusion5 relating to Boing concern In auditinE the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparatlon of the financial statements is appropriate. Based on the work we have performed. we have not identified any moteriol uncertainties relating to events or conditions that. individually or collectively. may cast significant doubt on the charity's ability to continue a5 a going concern for a period of at least twelve rDonths from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to Eoing concem are described in the relevant sections of this report.

other information The other Information comprises the information Included in the annual feport. other than the Inancial Statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report_ Our opinion on the financial statements does not cover the other inforrnation and we do not express any form of assurance conclusion thereon. Our re5pon5ibility is to read the other information and. in doing so. consider whether the other inforTnatlOn 15 materially incon515teTIt with the finani+al statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially mi55t6ted. If we identify such Enaterial inconsistencies or apparent material mi55tstements. we are ￿qUIred to determine whether this Elves rise to a material misstatement in the financial statements themselves_ If. baseil on the work we have performed. we conclude that there is a material misstatement of this other information. we are reguired to report that facL We have nothing to report in this regard. Respon$ibilities of twstees As explained rnore fully in the tru5tee5' re5pon5ibilities ststement. the tru5tee5 are responsible for the preparation of the flnancial statements and for belng satlsPied that they 8ivÈ a trLJe and fair view. and for such Internal control ès the trustees determine is necessary to enable the preparation of Inancial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements. the trustees are responsible fof assessing the charity'5 ability to continue as a going concern. disc105ing. as applicable. m6tter5 Telated to going concern and u5inE the going concern basis of accounting unle55 the tru5tee5 etther intend to liquidate the charity or to cease operations. or have no realistlc alternative but to do so_ Audltorf$ iesponslbllltles for the audlt of the finandal statement$ We have been appointed a5 auditor undeT section 144 of the Charitie5 Art 2011 and report in accordance w4th the Act ond relevint regulations rnade or having effect thereunder. Our objective5 ore to obtain reasonable assurance about whether the financial statement5 as whole are free from material mi55tatement. whether due to fraud or error. and to 155ue an auditor's report that include5 our opinion. Reasonable a55urance is a high level of a55urance. but 15 not Euarantee that an audit conducted in accordance with Is$￿ IUKI wlll always d&tert a material misstatement when it exists_ MisstatemÈnts 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. A further description of our responsibilities for the audit of the financial 5tatement5 is located on the FRV5 webslte at- wvnv.frc.org.uk/audFtor5respon5ibilitie5. Thi5 de5CTiPtion form5 part of our udFtorfs report. Extent to which the audrt was considered capable of detecting irregularities, including Iraud Irregularities. including fraud. are instances of non-compliance with laws and regulations_ We design procedures in line with our responsibilities. OLbtlined above, to detect material misstatements in

respect of irreEularttie5. including fraud. The extent to which our procedure5 are capable of detecting irregularitie5. including fraud is detailed below. We considered the nature of the chariws industry and its control environment. and reviewed the charity's documentation of their policies and procedures re5ating to fraud and compliance with laws nd regulations. We a150 enquired of management about their own identilication and assessment of the risk5 of irregularitie5. We obtained an undeTStanding of the legal and regulatory frameworks that the chority operate5 in, and identified the key laws and re8ulation5 that.. had a direct effert on the determination of material amounts and di5closure5 in the financial statements. These included the UK Charities Act." and do not have a direct effect on the financial statements but compliance with which may be fundamental to the chariWs ability to operate or to avoid a material penalty_ We discussed among the Judit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial Statements. As a result of performing the above. we identified the greatest potential for fraud OT non£ompliance with law5 and regulitions in the following area. and our specific procedures perfomied to addre55 It are described below- completene55 of donation. legacy and grant income. To addre55 this risk. we have tested a sample of legac¥ and donation income from source records to their supporting evidence. including bank 5tatement5 and boird minutes. and recorded incorne, and a55es5ed the classilication of the income as either restricted or unrestricted,. and classification of fund5 between restricted and unrestricted. To addre55 this risk we have tested a Sample of re5tTlCted income and expenditure to their 5UPPQrting evidence to assess whether they have been classified appropriately_ In comrnon with all audits under ISAS IUKI. we are also required to perform specific procedures to respond to the risk of management override_ In addressinE the risk of fraud throuEh manaEement override of contro15. we tested the appropri6tene55 of journal entrie5 and other adjustments." assessed whether the judgements rnade in making accounting estimates are indicative of a potential blas- and evaluated the business rationale of any sionificant transactlons that are unusual or outslde the normal course of busines5. In addition to the above. our procedures to respond to the risks identified included the followin£." reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as h3vinE a direct effect on the financial 5tJJtements." perfomine analytical procedures to identify any unusual or unexpected relationships that mav indicate risks of material mlsststement due to fraud,. enquiring of management concerning actual and potential litigation and claims. and instances of non-compliance with laws and regulations." and readin8 minutes of meetings of those charged with governance.

Report on other leEal and regulalory requirements Mattefs on which we are required to report by exception Under the charities IAccounts and Reports) Regulations 2008 we are required to report in respert of the following matters if. in our opinTron= the information given in the financial statements is inconsistent in any rnaterial respect with the tru5tee5' report." or sufficient accountirig record5 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 Tequire for our audit. We hove nothing to report in respect of these matters. Use of our report This report 15 made solely to the chariWs trustees. os i body. in accordance with part 4 of the Charitie5 (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity'5 tru5tee5 those matters we are reqvired to state to thern in an auditorf5 report and for no other purpose_ To the fullest extent permltted by law, we do not accept or assume responslbility to anyone other than the charity and the chariws trustees as a b¢xly. for our audit work, for this report. or for the opinions we have formed_ Deloitte LLP statutory AudFtor Leeds. United Klngdom Deloitte LLP is eligible for appointment os auditor forthe charity by virtue of its eligibility for appointment as audlt of a company under sectlon 1212 of the Companies Act 2006.

Statement of Financial Activities for the year ending 31 March 2021

Notes
INCOME FROM:
Donations, legacies & grants
3
Other trading activities - fundraising activities
4
Investments
TOTAL INCOME
EXPENDITURE ON:
Raising funds
5
Charitable activities
- Purchase of Medical Equipment
6
- Staff Training and Welfare
6
- Patient Welfare
6
- Buildings & Refurbishments
6
- Other
6
TOTAL EXPENDITURE
Transfer between funds
15
NET MOVEMENT IN FUNDS
Reconciliation of Funds
Total Funds brought forward
Net Movement in Funds
Total Funds carried forward		 Unrestricted
Funds
2020/21
£000
465
11
0
476
86
88
8
93
9
14
298
178
7
185
913
185
1,098		 Restricted
Funds
2020/21
£000
462
1
0
463
6
81
7
11
0
0
105
358
(7)
351
40
351
391		 Endowment
Funds
2020/21
£000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5
0
5		 Total
Funds
2020/21
£000
927
12
0
939
92
169
15
104
9
14
403
536
0
536
958
536
1,494		 Total
Funds
2019/20
£000
565
17
1
583
87
105
39
53
299
2
585
(2)
0
(2)
960
(2)
958

The notes at pages 12 to 21 form part of these accounts

All activities in both years arise from continuing activities. There were no recognised gains or losses after those shown above.

6

Statement of Financial Activities for the year ending 31 March 2020

Notes
INCOME FROM:
Donations & legacies
3
Other trading activities - fundraising activities
4
Investments
TOTAL INCOME
EXPENDITURE ON:
Raising funds
5
Charitable activities
- Purchase of Medical Equipment
6
- Staff Training and Welfare
6
- Patient Welfare
6
- Buildings & Refurbishments
6
- Other
6
TOTAL EXPENDITURE
Transfer between funds
15
NET MOVEMENT IN FUNDS
Reconciliation of Funds
Total Funds brought forward
Net Movement in Funds
Total Funds carried forward		 Unrestricted
Funds
2019/20
£000
560
17
1
578
86
104
36
53
268
2
549
29
0
29
884
29
913		 Restricted
Funds
2019/20
£000
5
0
0
5
1
1
3
0
31
0
36
(31)
0
(31)
71
(31)
40		 Endowment
Funds
2019/20
£000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5
0
5		 Total
Funds
2019/20
£000
565
17
1
583
87
105
39
53
299
2
585
(2)
0
(2)
960
(2)
958

The notes at pages 11 to 21 form part of these accounts

All activities in both years arise from continuing activities. There were no recognised gains or losses after thos shown above.

7

Balance Sheet as at 31 March 2021

Notes
CURRENT ASSETS
Debtors
11
Cash and cash equivalents
12
Total Current Assets
Creditors:amounts falling due within one year
13
NET CURRENT ASSETS
NET ASSETS
The funds of the charity:
17
Endowment funds
Restricted income funds
Unrestricted income funds
Total Charity Funds		 Unrestricted
Funds
2021
£000
107
1,347
1,454
(356)
1,098
1,098
0
0
1,098
1,098		 Restricted
Funds
2021
£000
0
485
485
(94)
391
391
0
391
0
391		 Endowment
Funds
2021
£000
0
5
5
0
5
5
5
0
0
5		 Total
Funds
2021
£000
107
1,837
1,944
(450)
1,494
1,494
5
391
1,098
1,494		 Total
Funds
2020
£000
11
1,409
1,420
(462)
958
958
5
40
913
958

These financial statements of SWFT Charity registered number 1056424 were approved by the Trustee and authorised for issue on 31 January 2022

They were signed on its behalf by:

Glen Burley - Chief Executive 31/01/2022

8

Balance Sheet as at 31 March 2020

Notes
CURRENT ASSETS
Debtors
11
Cash and cash equivalents
12
Total Current Assets
Creditorsfalling due within one year
13
NET CURRENT ASSETS
NET ASSETS
The funds of the charity:
17
Endowment funds
Restricted income funds
Unrestricted income funds		 Unrestricted
Funds
2020
£000
11
1,333
1,344
(431)
913
913
0
0
913
913		 Restricted
Funds
2020
£000
0
71
71
(31)
40
40
0
40
0
40		 Endowment
Funds
2020
£000
0
5
5
0
5
5
5
0
0
5		 Total
Funds
2020
£000
11
1,409
1,420
(462)
958
958
5
40
913
958

9

Statement of Cash Flows for the year ending 31 March 2021

Notes
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by (used in) operating activities
14
CASH FLOWS FROM INVESTING ACTIVITIES
Receipt of Short Term Investment
Net cash provided by (used in) investing activities
CHANGE IN CASH AND CASH EQUIVALENTS IN THE
REPORTING PERIOD
CASH & CASH EQUIVALENTS:
AT THE BEGINNING OF THE REPORTING PERIOD
Transfer between funds
15
AT THE END OF THE REPORTING PERIOD
12		 Unrestricted
Funds
2020/21
£000
7
0
0
7
1,334
6
1,347		 Restricted
Funds
2020/21
£000
421
0
0
421
70
(6)
485		 Endowment
Funds
2020/21
£000
0
0
0
0
5
0
5		 Total
Funds
2020/21
£000
428
0
0
428
1,409
0
1,837		 Total
Funds
2019/20
£000
49
0
0
49
1,360
0
1,409

10

Statement of Cash Flows for the year ending 31 March 2020

Notes
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by (used in) operating activities
14
CASH FLOWS FROM INVESTING ACTIVITIES
Receipt of Short Term Investment
Net cash provided by (used in) investing activities
CHANGE IN CASH AND CASH EQUIVALENTS IN THE
REPORTING PERIOD
CASH & CASH EQUIVALENTS:
AT THE BEGINNING OF THE REPORTING PERIOD
AT THE END OF THE REPORTING PERIOD
12		 Unrestricted
Funds
2019/20
£000
279
0
0
279
1,054
1,333		 Restricted
Funds
2019/20
£000
(230)
0
0
(230)
301
71		 Endowment
Funds
2019/20
£000
0
0
0
0
5
5		 Total
Funds
2019/20
£000
49
0
0
49
1,360
1,409

11

Notes on the accounts

1. Accounting Policies

(a ) Basis of preparation

SWFT Charity is governed by a Trust Deed and is administered and managed by the Corporate Trustee, the South Warwickshire NHS Foundation Trust. The Charitable Fund operates as a public benefit entity.

The accounts have been prepared under the historic cost convention.

The financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities (SORP 2019)" applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1 January 2019; and the Charities Act 2011.

The principal accounting policies are set out below.

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 does not have the power to spend the capital, it is classed as permanent endowment.

Unrestricted income funds comprise those funds which the Trustee is free to use for any purpose in furtherance of the charity's objectives. Unrestricted funds include designated funds, where the donor has made known their non binding wishes or where the Trustee, at its discretion, have created a fund for a specific purpose.

The Charity has an permanent endowment fund, the Woods Award, created by a gift from relatives of a former member of staff. Only the interest can be spent and the fund's use is restricted to the making of an annual nursing award to a member of staff who had made an outstanding contribution.

The major funds held in each of these categories are disclosed in note 17.

(c ) Income

All income is recognised once the Charity has entitlement to the resources, it is probable that the resources will be received and the monetary value can be measured with sufficient reliability.

Where there are terms or conditions attached to income, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.

(d ) Income from legacies

Legacies are accounted for as income either upon receipt or where the receipt of the legacy is probable.

Receipt is probable when:

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

12

(e) Expenditure Expenditure is recognised when a liability is incurred, goods and services are supplied. Grant commitments are recognised when a constructive obligation arises that result in payment being unavoidable.

Grants are only made to related or third party NHS bodies and non NHS bodies in furtherance of the charitable objects of the Charity. A liability for such grants is recognised when approval has been given by the Trustee and the grant communicated to the recipient. The NHS Trust has full knowledge of the plans of the Trustee, therefore a grant approval is taken to constitute a firm intention of payment which has been communicated to the NHS Trust, and so a liability is recognised.

Charitable expenditure is aggregated within the most appropriate category.

Contractual arrangements are recognised as goods or services supplied.

(f ) Irrecoverable VAT

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

(g ) Allocation of overhead and support costs

Support costs are those costs which do not relate directly to a single activity. These include some staff costs, costs of administration, internal and external audit costs and IT support. Support costs have been apportioned between fundraising costs and charitable activities on an appropriate basis. The analysis of support costs and the basis of apportionment applied are shown in note 8.

(h ) Costs of raising funds

The costs of raising funds are the costs associated with the fundraising staff costs.

(i ) Charitable activities Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the Charity.

(j ) Debtors

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

(k) Cash and cash equivalents Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due. Cash equivalents are short term, highly liquid investments, usually in 95 day notice interest bearing savings accounts.

(l) Going Concern

Expenditure is only authorised after it has been ascertained that there are sufficient funds within the individual charitable fund to support the expenditure. In addition, the Trustee asks fund managers to submit annual spending plans.

The Trustee therefore has a reasonable expectation that the Charity has adequate cash reserves to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing these accounts.

(m) Financial Instruments

Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. The charity only holds financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

13

Note 2. Critical Accounting Judgements and Key Sources of Estimation Uncertainty

In the application of the Charity's accounting policies, which are described in note 1, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.

Note 3. Analysis of Income from Donations, Legacies and Grants

Donations
Legacies
Grants
Donations
Legacies
Grants		 Unrestricted
Funds
2020/21
£000
238
193
34
465
Unrestricted
Funds
2019/20
£000
200
175
186
561		 Restricted
Funds
2020/21
£000
67
220
175
462
Restricted
Funds
2019/20
£000
4
0
0
4		 Endowment
Funds
2020/21
£000
0
0
0
0
Endowment
Funds
2019/20
£000
0
0
0
0		 Total
Funds
2020/21
£000
305
413
209
927
Total
Funds
2019/20
£000
204
175
186
565

Note 4. Analysis of Income from Other Trading Activities - Fundraising Activities

Fund raising events
Fund raising events		 Unrestricted
Funds
2020/21
£000
11
11
Unrestricted
Funds
2019/20
£000
17
17		 Restricted
Funds
2020/21
£000
1
1
Restricted
Funds
2019/20
£000
0
0		 Endowment
Funds
2020/21
£000
0
0
Endowment
Funds
2019/20
£000
0
0		 Total
Funds
2020/21
£000
12
12
Total
Funds
2019/20
£000
17
17

14

Note 5. Analysis of Expenditure on Raising Funds

Operating fundraising events
Costs (includes Salaries)
Operating fundraising events
Costs (includes Salaries)		 Unrestricted
Funds
2020/21
£000
6
80
86
Unrestricted
Funds
2019/20
£000
14
72
86		 Restricted
Funds
2020/21
£000
0
6
6
Restricted
Funds
2019/20
£000
0
1
1		 Endowment
Funds
2020/21
£000
0
0
0
Endowment
Funds
2019/20
£000
0
0
0		 Total
Funds
2020/21
£000
6
86
92
Total
Funds
2019/20
£000
14
73
87

The charity does not have any employees. The Trust recharges the charity for salary costs incurred.

Note 6. Analysis of Expenditure on Charitable Activities

Purchase of Medical Equipment
Staff Training and Welfare
Patient Welfare
Buildings & Refurbishments
Other Expenditure		 Grant
funded
activities
2020/21
£000
152
14
94
8
13
281		 Support
costs
2020/21
£000
17
1
11
1
1
31		 Total
2020/21
£000
169
15
104
9
14
311
Purchase of Medical Equipment
Staff Training and Welfare
Patient Welfare
Buildings & Refurbishments
Other Expenditure		 Grant
funded
activities
2019/20
£000
99
37
50
280
2
468		 Support
costs
2019/20
£000
6
2
3
19
0
30		 Total
2019/20
£000
105
39
53
299
2
498

15

Note 7. Role of volunteers

Volunteers play a valuable role across the Trust and in particular when supporting our Charitable Fund. As an unpaid resource, volunteers donate their time in a variety of ways including; helping at events, supporting with administration or hosting their own events and activities. The Trust is extremely grateful to all volunteers, their dedication and support helps us to generate more charitable income.

Note 8. Allocation of support costs

Support and overhead costs are allocated between fundraising activities and charitable activities. Governance costs are those costs which relate to the strategic management of the charity. Total governance costs are £4,200 (2019/20 £4,200).

Administration Cost
Audit
Administration Cost
Audit		 Raising
Charitable
Funds
Expenditure
2020/21
2020/21
£000
£000
9
28
0
4
9
32
Raising
Charitable
Funds
Expenditure
2019/20
2019/20
£000
£000
5
26
0
4
5
30		 Total
Funds
Basis
2020/21
£000
37
Fund balance
4
Fund balance
41
Total
Funds
Basis
2019/20
£000
31
Fund balance
4
Fund balance
35

16

Note 9. Trustees' remuneration, benefits and expenses

The charity's trustees give their time freely and receive no remuneration for the work that they undertake as trustees (in either year).

In addition, they have not received any expenses for costs incurred in fulfilling their duties (in either year).

Note 10. Auditor's remuneration

The auditor's remuneration of £3,500 +VAT for an audit (2019/20: £3,500 +VAT) related solely to the audit with no other additional work being undertaken (2019/20: £nil)

Note 11. Debtors under 1 year

Accrued income Total
Funds
2020/21
£000
107
107		 Total
Funds
2019/20
£000
11
11

Note 12. Cash and Cash Equivalents

Cash in hand Total
Funds
2020/21
£000
1,837
1,837		 Total
Funds
2019/20
£000
1,409
1,409

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

Note 13. Creditors under 1 year

Trade Creditors Total
Funds
2020/21
£000
450
450		 Total
Funds
2019/20
£000
462
462

17

Note 14. Reconciliation of net income / (expenditure) to net cash flow from operating activities

NET INCOME/(EXPENDITURE) FOR
THE YEAR
Adjustments for:
Interest from investments
(Increase)/decrease in debtors
(Decrease)/increase in creditors
NET CASH GENERATED BY
OPERATING ACTIVITIES		 Unrestricted
Funds
2020/21
£000
178
0
(96)
(75)
7		 Restricted
Funds
2020/21
£000
358
0
0
63
421		 Endowment
Funds
2020/21
£000
0
0
0
0
0		 Total
Funds
2020/21
£000
536
0
(96)
(12)
428		 Total
Funds
2019/20
£000
(2)
0
20
31
49

Note 15. Transfers between funds

Transfer of funds on the SOFA and Balance sheet relates to a correction in opening balances. There have been no actual internal transfers between funds in 2019/20 or 2020/21.

Note 16. Related Party Transactions

Patients of South Warwickshire NHS Foundation Trust (SWFT), the Corporate Trustee, are the main beneficiary of the Charity. SWFT is the immediate parent and the Department of Health is the ultimate controlling party for the Trust. SWFT's principal purpose is as a healthcare provider. The Charity incurred charitable expenditure, relating to SWFT, totalling £281k (2019/20 £468k) as detailed in note 6 in the furtherance of its charitable objectives. At the end of the year there was a creditor of £450k (2019/20 £462k), for charitable expenditure which had been incurred by SWFT. There was a debtor balance between the Charity and SWFT of £5k (2019/20 £5k). During the year none of the members of the NHS Board of Directors' or senior NHS Trust staff or parties related to them were direct beneficiaries of the Charity.

18

Note 17. Analysis of Charitable Funds

ENDOWMENT FUNDS
Woods Award
TOTAL ENDOWMENT FUNDS
RESTRICTED
Stratford Hospital Appeal
Palliative Care - Community
Donald Greenway Legacy
Trustwide Staff Wellbeing
COVID response fund
Other Funds: 8
TOTAL RESTRICTED FUNDS
UNRESTRICTED
Aylesford & Rigby Unit Patients
Breast Care Unit
Cardiac Development
Cardiology Unit Patients
Ellen Badger Day Unit Patients
Ellen Badger Patients General
Haematology
Leam Neurological Rehab Appeal
Machen Eye Unit Amenities
Rigby Awards
Special Care Baby Unit
Warwick General Purpose
Warwick Hospital Rheumatology
Other Funds: 104
Corporate Division (1 funds)
Elective Division (27 funds)
Emergency Division (28 funds)
Out of Hospital (18 funds)
Support Services (13 funds)
Women & Childrens (17 funds)
TOTAL UNRESTRICTED FUNDS
GRAND TOTAL		 Balance at
1 April 2020
£000
5
5
17
9
0
0
0
7
33
118
19
22
54
14
199
75
31
37
28
30
10
13
1
71
92
32
39
35
920
958		 Income
£000
0
0
0
3
221
152
86
1
463
73
25
0
1
0
0
0
12
4
100
7
166
4
0
26
18
16
4
20
476
939		 Expenditure
Balance at
31 March 2021
£000
£000
0
5
0
5
0
17
(9)
3
(64)
157
(15)
137
(15)
71
(2)
6
(105)
391
(12)
179
(3)
41
(2)
20
(15)
40
(1)
13
(19)
180
(41)
34
(6)
37
(4)
37
(56)
72
(26)
11
(47)
129
(1)
16
0
1
(14)
83
(16)
94
(7)
41
(6)
37
(22)
33
(298)
1,098
(403)
1,494

19

Note 17. Analysis of Charitable Funds

ENDOWMENT FUNDS
Woods Award
TOTAL ENDOWMENT FUNDS
RESTRICTED
Stratford Hospital Appeal 703210
Palliative Care - Community 773101
Other Funds: 10
TOTAL RESTRICTED FUNDS
UNRESTRICTED
Aylesford Unit Patients 704101
Breast Care Unit 716317
Cardiac Development 704345
Cardiology Unit Patients 704300
Ellen Badger Day Unit Patients 762010
Ellen Badger Patients General 762000
Haematology 711001
Leam Neurological Rehab Appeal 763050
Machen Eye Unit Amenities 716304
Rigby Awards 702333
Special Care Baby Unit 741010
Stratford General Purpose 703301
Warwick General Purpose 702301
Warwick Hospital Rheumatology 704320
Other Funds: 106
Corporate Division (2 funds)
Elective Division (28 funds)
Emergency Division (27 funds)
Out of Hospital (18 funds)
Support Services (12 funds)
Women & Childrens (17 funds)
TOTAL UNRESTRICTED FUNDS
GRAND TOTAL		 Balance at
1 April 2019
£000
5
5
46
10
8
64
216
16
24
86
14
45
81
48
55
31
2
1
27
14
1
65
68
27
35
35
891
960		 Income
£000
0
0
1
1
2
4
188
7
0
1
0
172
1
19
2
0
35
0
27
0
0
37
40
11
16
23
579
583		 Expenditure
Balance at
31 March 2020
£000
£000
0
5
0
5
(30)
17
(2)
9
(3)
7
(35)
33
(286)
118
(4)
19
(2)
22
(33)
54
0
14
(18)
199
(7)
75
(36)
31
(20)
37
(3)
28
(7)
30
0
1
(44)
10
(1)
13
0
1
(31)
71
(16)
92
(6)
32
(13)
38
(23)
35
(550)
920
(585)
958

20

Note 17. Analysis of Charitable Funds continued

Details of Material Funds - Restricted

Name of Fund
Stratford Hospital Appeal
Palliative Care - Community
Donald Greenway Legacy
Trustwide Staff Wellbeing
COVID response fund
Other
Details of Material Funds - Designated Unre
Aylesford & Rigby Unit Patients
Breast Care Unit
Cardiac Development
Cardiology Unit Patients
Ellen Badger Day Unit Patients
Ellen Badger Patients General
Haematology
Leam Neurological Rehab Appeal
Machen Eye Unit Amenities
Rigby Awards
Special Care Baby Unit
Warwick General Purpose
Warwick Hospital Rheumatology
Other		 Fund
at 31 March
2021
£000
Description, nature and purposes of the fund
17
To enhance the facilities for the new Stratford hospital development. Appeal now ceased
3
To be used for services and to benefit Palliative Care Services in the community
157
To be used to support the eye units at Stratford and Warwick hospitals
137
To support Staff Wellbeing across the Trust
71
6
To provide equipment and facilities.
391
stricted (including Endowment)
179
To be used for services and to benefit patients in the Aylesford & Rigby Units
41
To be used for services and to benefit patients and staff of the Breast Care Unit
20
To be used for development within the Cardiac department
40
To be used for services and to benefit patients in the Cardiac Unit
13
To be used for services and to benefit patients and staff of the Ellen Badger Unit
180
To be used for services and to benefit patients and staff of the Ellen Badger Hospital
34
To be used for research purposes for the Haematology Unit
37
To facilitate the enhancement of the Acquired Brain Injury Unit and purchase specialist Equipment
37
To be used for services and to benefit patients of the Machen Eye Unit and the Stratford Eye Unit
72
To fund and manage awarded projects funded by the Rigby Foundation
11
To be used for services and to benefit patients and staff SCBU
129
To be used for services and to benefit patients and staff in Warwick General Hospital
16
To be used for development within the Rheumatology department
289
To provide equipment and facilities for the appropriate charitable fund
1,098

21

Independent auditor’s report to the trustees of SWFT Charity

Report on the audit of the financial statements

Opinion

In our opinion the financial statements of SWFT Charity (the ‘charity):

We have audited the financial statements which comprise:

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report.

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 Financial Reporting Council’s (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 twelve 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.

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 within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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

We have nothing to report in this regard.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, 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 the trustees either intend to liquidate the charity or to cease operations, or have 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.

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

Extent to which 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 material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

We considered the nature of the charity’s industry and its control environment, and reviewed the charity’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory frameworks that the charity operates in, and identified the key laws and regulations that:

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

As a result of performing the above, we identified the greatest potential for fraud or non-compliance with laws and regulations in the following area, and our specific procedures performed to address it are described below:

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

Report on other legal and regulatory requirements

Matters on which we are required to report by exception

Under the Charities (Accounts and Reports) Regulations 2008 we are required to report in respect of the following matters if, in our opinion:

We have nothing to report in respect of these matters.

Use of our report

This report is made solely to the charity’s 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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Deloitte LLP

Statutory Auditor Leeds, United Kingdom

Deloitte LLP is eligible for appointment as auditor for the charity by virtue of its eligibility for appointment as audit of a company under section 1212 of the Companies Act 2006.