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2021-03-31-accounts

Whittington Hospital NHS Trust Charitable Funds

(Working name: Whittington Health Charity) Annual Report for the year ending 31 March 2021

Registered charity number: 1056452

Whittington Health NHS Trust Magdala Avenue London N19 5NF

Statement and welcome from the Chair

I want to begin by saying thank you to all those who supported the Whittington Health Charity through what has been the most difficult of years. The generosity of our supporters enabled us to provide staff with hot meals, skin cream, spaces to rest, refurbished staff rooms and an extensive programme of psychological support. We have also funded a wide range of patientfocused projects, many of which aimed to address the unique challenges posed by the pandemic.

As the year progressed, the immediate needs of staff and patients changed, but one thing remained constant: the public’s support of the Whittington Health Charity.

Beyond the pandemic, it has been a transformational year for the Charity, with new leadership, approval for a complete rebrand and a major overhaul of the Charity’s governance, grantmaking processes and funds structure.

We are well-placed to substantially increase the good that we are able to do in support of the Trust and our community - and to play a major role in support of a significant maternal health capital project in the coming years.

On behalf of everybody at Whittington Health NHS Trust, thank you for your support.

Tony Rice

Chair of the Whittington Health Charitable Funds Committee

Whittington Heath Charitable Funds Annual Report Page 2 of 12

Whittington Health – helping local people live longer, healthier lives

About the Trust

Whittington Health occupies a unique place in North London – as an integrated care organisation providing hospital and community services, we have a clear vision to help local people live longer, healthier lives. We serve the communities of Islington and Haringey as well as Camden, Hackney, Enfield, Barnet and other parts of north west London. This might be through patients coming to our hospital for planned or emergency care, patients coming to appointments at one of our community centres or by our staff, such as health visitors, district nurses or community pharmacists coming into their homes. Providing such a range of care is what makes us a truly integrated care organisation.

About the Charity

The Whittington Health Charity (working name of The Whittington Hospital NHS Trust Charitable Funds) exists for any charitable purposes associated with the Whittington Health NHS Trust and for the advancement of medical education facilities.

The Charity supports and funds care that the NHS is not able to provide, in particular medical equipment and support for patients and staff. By spending money on additional equipment, better facilities, a more comfortable environment and research and education projects, we can offer patients the highest standards of care in the best possible surroundings.

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For a project to receive funding, it must demonstrate clear additionality; we do not fund projects that should be covered by NHS budgets. This ensures that donations from our supporters go towards projects that provide a clear and demonstrable positive impact, with a preference for funding transformational initiatives.

Activities and Performance

Financial review of 2020/21

The Charity generated income of £1,006,000 in 2020/21. This is a significant increase compared to 2019-20, resulting from a substantial uplift in giving because of the Covid-19 pandemic. The figure includes major gifts from NHS Charities Together and a number of individuals and charitable trusts and foundations. Two JustGiving cash appeals, promoted via social media and email communications also generated significant returns. The figure does not include the extraordinary number of in-kind gifts received from the community, ranging from hot meals and baked goods to items purchased from an Amazon.co.uk wishlist.

The Charity’s Investments recovered throughout the year and managed to increase in value by more than the loss experienced in the prior financial year.

The Charity’s main expenditure throughout 2020-21 was driven by supporting the Trust’s staff in what was an unprecedented event in recent times.

Examples of projects funded in 2020/21

Wingman Lounge

After multiple airlines grounded their air fleets, teams of cabin crew volunteered to turn our staff rest area into a ‘first class lounge’. Charitable funding kept this lounge running throughout the year, providing a space for staff to decompress with access to free newspapers, tea, coffee and snacks. The Lounge was critical to ensuring staff were sufficiently rested to provide the very best care to patients.

Meals for the NHS

During the two peaks of the pandemic, thanks largely to the genorosity of a major donor, we were able to provide staff on the frontline with thousands of hot nutritious meals, focusing mainly on those working through the night. Instead of staff living off toast or instant noodles, they were able to eat meals prepared by local restaurants (coordinated by non-profit, Meals for the NHS) and focus their energies on their patients.

Staff facility improvements

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Donor support, including support from NHS Charities Together, has allowed the Charity to invest heavily in staff room facilities. New furniture and appliances were purchased and installed, again ensuring that staff were able to get adequate rest during their shifts and direct all their focus to caring for patients.

Digital inequality in Haringey

As part of a Haringey-wide partnership with multiple NHS Trusts, we equipped volunteers with the training and technology to support digitally-excluded members of the community, such as those unable to afford an internet connection, the elderly with sensory impairments and others within a demographic being excluded by primarily virtual/online health consultations during the pandemic. Vulnerable patients without access to online technology were able to attend clinic appointments from the safety of their own home.

Staff psychological support

Thanks to the generous support of donors, the Charity has been able to fund a comprehensive programme of psychological support for staff in an effort to address the emotional trauma that has resulted from the pandemic. A range of provisions, including one-to-one therapy, group reflective practice sessions and supported peer-to-peer therapy was delivered – particularly towards the latter part of the year.

Other projects include

News and structural changes

The Trust appointed Sam Lister in the newly-created Head of Charity post in November 2020.

The Charitable Funds Committee, working in consultation with BDP Pitmans LLP, reviewed and refined its governance processes and terms of reference. This included its grantmaking policies, grant approvals process and the adoption of grant categories to improve impact reporting and measurement. The Charity also began work on consolidating its restricted funds and officially changed its working name to ‘Whittington Health Charity’.

The Charitable Funds Committee and the Trust approved a comprehensive rebrand of the Charity, to be completed in the 2021/22 financial year. The new year will also see the completion of the funds consolidation project.

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Charity Contact

To find out how you can get involved and support the Charity, please visit www.whittingtonhealthcharity.org, email fundraising/whitthealth@nhs.net or call the Charity team on 020 7288 3402.

Corporate Trustee

The Board of Whittington Health NHS Trust acts as corporate trustee of the charitable funds and is accountable to the Charity Commission. Following the transfer of services from the Royal Northern Hospital, the main consolidated hospital funds were formally established by model declaration of trust in 1996, for any charitable purposes relating to the Trust. In 2001, The Whittington Hospital Medical Education Charitable Fund, which had been a separate entity, was brought under the same corporate trustee as the main funds. In July 2011 Statutory Instrument SI 2011 no.1552 transferred the former Haringey and Islington PCT funds held on trust from Camden PCT to the Whittington Hospital NHS Trust.

Delegation to Fund-Holders

The Corporate Trustee delegates day-to-day administration of funds to relevant senior Whittington Health employees or people with joint contracts of employment with the health organisation and the university. These fund holders work within a framework of rules and policies set down by the Corporate Trustee. Fund holders are responsible for ensuring that the funds are used in accordance with the donors’ wishes and the objectives of the Charity.

Corporate Trustee Board Members

Baroness Julia Neuberger Chair
Siobhan Harrington Chief Executive
Clare Dollery Medical Director
Michelle Johnson Chief Nurse and Executive Director of Experience
Kevin Curnow Chief Finance Officer
Carol Gillen Chief OperatingOfficer
Norma French Director of Workforce
Jonathan Gardner Director of Strategyand Corporate Affairs
Sarah Humphrey Integrated Care Medical Director
TonyRice Non-Executive Director
Anu Singh Non-Executive Director
Prof. Naomi Fulop Non-Executive Director
Amanda Gibbon Non-Executive Director
Rob Vincent Non-Executive Director
Glenys Thornton Non-Executive Director

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Junaid Bajwa Associate Non-Executive Director Wanda Goldwag Associate Non Executive Director

The Chair of Corporate Trustee for 2020-21:

The Chair of Charitable Funds Committee for 2020-21:

Charity’s principal address:

Bankers:

Investment Managers:

Independent Examiner:

Income & Expenditure – overview of 2020-21

Fund Balances

The Charity holds the following fund balances as at 31 March 2021, divided in the following service areas:

Fund Type Total funds (£000)
Endowment 22
Restricted – Other 1,171
Restricted – Post Graduate 58
Restricted – Investment 523
Un-Restricted – General 206
Un-Restricted – Specific 857
TOTAL 2,837

Whittington Heath Charitable Funds Annual Report Page 7 of 12

Income

The Charity raised incoming resources of slightly over £1m (2019-20 £356k). This is split across the following income headings (with prior year comparisons)

The increased donations was a direct result of the public’s response to the Covid 19 pandemic and donations were secured from both corporate and private donors. 2020-21 income is further analysed by in the pie chart below.

----- Start of picture text -----
6% 0%
3% 20/21 Income by Category
DONATIONS
LEGACIES
OTHER TRADING ACTIVITIES
INVESTMENTS
91%
----- End of picture text -----

Expenditure

Total expenditure for the year was £774k (2019-20: £515k). This is split across the following expenditure headings with prior year comparatives.

The increased expenditure was primarily linked to the Charity’s response to the global pandemic and supporting a multitude of bids in support the Trust’s staff throughout the year. The 2020-21 expenditure is further illustrated in the pie chart below.

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The Charity does not hold reserves specifically; although it does have funds of approximately £2.8m at 31 March 2021. Funds are able to support the Charity’s operations for the foreseeable future, and there are no going concern uncertainties in relation to the Charity. There are no individual funds in deficit.

Investment Review

The combined value of the investment portfolio as at 31 March 2021 was £1.1m. This balance consisted mostly of a combination of stocks and high interest deposits. Over the course of the year, no cash withdrawal was made from the investment portfolio, but some high interest deposits expired and were reinvested.

Investec Portfolio

This portfolio is made up of an acute fund and a community fund. The total combined value of the portfolio was £1.1m, of which 89% was held in equities and fixed interest; in addition the portfolio included a cash balance of £53k.

Of this combined portfolio value, £424k relates to community funds and £676k relates to the acute funds.

Investments – Acute

The value of the investment portfolio as at end of March 2021 is £676k (2019-20: £582k) of which less than 1% of the portfolio was held as cash.

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Table - Acute Portfolio

Fund Growth Actual Growth Benchmark Variance (%)
(%) Growth (%)
Last Quarter 1.5 7.4 (5.9)
Financial Year 19.3 6.6 12.7
Asset Allocation by Category Actual Holding Benchmark Variance (%)
(%) Holding (%)
UK Fixed Interest 20.2 25 (4.8)
UK Equities 40.8 50 (9.2)
Overseas Equities 33.2 20 13.2
Property & Other 5.4 0 5.4
Cash 0.4 5 (4.6)

Investments – Community

The value of the investment portfolio as at 31 March 2021 is £424k (2019-20: £366k) of which 3.2% of the portfolio was held as cash.

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Table - Community Portfolio

Fund Growth Actual Growth Benchmark Variance (%)
(%) Growth (%)
Last Quarter 2.2 6.8 (4.6)
Financial Year 19.2 6.8 12.4
Asset Allocation by Category Actual Holding Benchmark Variance (%)
(%) Holding (%)
UK Fixed Interest 12.8 16 (3.2)
UK Equities 37.4 45 (7.6)
Overseas Equities 32.6 21 11.6
Property & Other 15.9 13 2.9
Cash 1.3 5 (3.7)

Investec’s Investment Outlook

Investec has pro-actively continued to minimise the unprecedented impacts of both Brexit and Covid 19 on the Charity’s investment portfolio. Their approach continues to be planned and proactive as they seek build on the growth achieved in 2020-21 and mitigate ongoing risks created by the pandemic, combined with global economic and geopolitical challenges.

CCLA: This is a low value portfolio; value as at end of March 2021 in the COIF Charity Funds was £3k and at the end of March 2020 was also £3k.

Risk Management

The financial controls of the Trust also apply to the Charity; the only major area of financial risks for charitable funds is the performance of the investments.

The aim of the investment portfolio structure is to provide both long term growth in capital values and income to maintain those values in real terms. This is achieved through a balance between fixed assets securities, UK equities and collective funds such as unit trust, investment trusts and high interest deposits. Based on financial market history where significant drawbacks have happened in the last few years , it’s been necessary to take a gradually lower risk profile with our assets, to mitigate such risks of investment performance the trustees have adopted a medium risk policy to the management of the Charity’s assets. The current account balance is also being monitored as part of achieving the overall strategy.

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The objects of the Charity portfolio are to be met by way of a prudent investment strategy based on a diversified range of bonds and equities which are quoted on a recognised investment exchange, and unit trusts which are authorised under the Financial Services and Markets Act 2000. The type of each investment and the individual investments themselves is suitable to meet the Charity’s purposes.

Financial Statements

The financial statements for 2020/21 are set out overleaf and are available from the Charity - - - - Commission’s website https://register of charities.charitycommission.gov.uk/charity search/ - - - - /charity details/1056452/accounts and annual returns

Whittington Heath Charitable Funds Annual Report Page 12 of 12

NHS Whittington Health ti0&] Whittington Hospital NHS Trust Charitable Funds Annual Accounts for the year ending 31 March 2021 Registered charity number: 1056452 The Whittington Hospital NHS Trust Charitable Funds Magdala Avenue London N19 5NF

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Schedule of Contents Contents Page 1. Contènts 2. Trustee Report 3. Independent Examiners Report 4t05 4. Statement of Financlal Activbtles 5. Balance Sheet 6. Notes to tho Accounts 8t018 itungknn Health Charitsb]e Funds Annual Acwunts P8ge 2 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Statement of Trustee's responsibilities in respect of the Trustee's annual report and accounts Under charty law, the Trustee is responsible for preparing the Trustee's Annual Rewrt and a¢counts for each tinancial year which show true and fair wew of the stale of affair5 of the charity and of the excess of expenditure over funds raised for that pertod. In preparing these financkgl stalements, generalty accepted a(￿oUntIng practice entails that the Trustee: Selects suitable xcounting policies and then applies them consistenuy., Makes judgements and estimate5 that are reasonable and prudent; states whether the re￿mMendat￿n5 ot the Statement of Recommended Practice ISORPI have been followed, subject to any maierbal departures disclosed and explained in the financial statements" States whether the finanaal statements compty ￿th the Trust deed, sutl'ect to any material departures disclosed and explained in the financial statements- Prepares the financial statements on the gotng concern basis unless it is inappropriate to presume that the charity will conb'nue its a¢tivrtie8. The trustees are required to act in accordance with the trust deed and the rules of the charity, wilhin the framework of trust law. Th8 trustees are reswn5ible for keeping proper accounbng records, SUff￿lent to disclose at any with reasonable accuracy, the financial position of the charty at that time. and enable the trustees to ensure that, where any statements of accounts are prepared by the trustees under section 132111 of Charities Act 2011. those statements of accounts comply with the requirements of regulalion8 under that PTovision. The Irustees have general responsibilty for taking such steps as are reasonably open to the trustees to safeguard the assets of the charity aThJ to prevent and detect fraud and other irregularities. Signed on behalf of the Trustees: Siobhan Harrington, Chief Executive Ofr 12th January 2022 Whiltingkn Health Ch8ritabKg Fund5 Annual A¢¢ounts P8ge 3 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Independent Examiners Report to the Trustees of the Whittlngton Hospltal NHS Trust Charitable Funds I report to the charity trustees on my examination of the a¢xounts of the charity for the year ended 31 March 2021, which are sel out on pages 6 to 17. This report is made solely to the charity's Trustees. a$ a bc*ly. in accordance with Part 4 of the Charib'e8 (Accounts and Reports) R￿UlationS 2008. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to slate to them in an independent examinels report and for o other purpose. To the fullest extent permitted by law, I do not accepl or assum8 responsibility to anyone other than the charity and the charity's Trustees, as a body, for rny work or for this report. Responsibilities and basis of report As the Charity's trustees you are responsible for the preparation of the accounts In accordance wlh the requirements of the Charities Act 2011 {'the ACVI. I report in respect ot my examination of the charity'5 accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all Ihe applicable Directions given by the Charity Commission under section 14515)(bl of the ACL Indepèndent examinerfs statement Your attention is drawn to the fact that the charty has prepared the accounts in accordance with Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charilieg preparing their accounts in accordance wth the Finanaal Reportrng Standard applicable in the UK and Republic of Ireland {FRS 1021 in preference to Accounting and Rewrting by Charities: Statement of Recommended practi￿ issued in 1 April 2005 bthich is referred to in the extanl regulations but has since en withdrawn. l under8tand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accountiro practi￿ effective for reporting petiods beginning on or after 1 January 2015. I have completed my examination. I confirm that no material matter5 have come lo my attention in connection wlh the examination giwng me cause to believe that in any material respect.. accounting records were not kept in respe¢t of the charity as required by secb'on 130 of the Act., or the accounts do not accord wlh records" or the accounts do not comply with the applicable r4uirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tEue and fair vlhich is not a maller considered as part of an independ8nt examinatK)n. itb"W Heahh Charftabla Funds Annual Accounts P8ge 4 of le

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Independent Examiners Report to the Trustees of the Whittington Hospital NHS Trust Charitable Funds contlnued I have no concerns and have come arxoss no other matters in connection wrf(h the examination to ￿lch attention should be drawn in this r8POrt in order to enable a proper understanding of the a¢¢ounts to be reached. Robert Smith ACA Griffin Stone Moscrop & Co 21-27 Lamb's Conduit Street Londo WC1N 3GS Daled.. 12th January 2022 ilbnw Haath Charilable Funds Annual Ac￿UnIS Page 5 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Statement of Financial Activities for the year ended 31 March 2021 Nots Unrestricted Roslrf¢tgd Endowmgnt Funds 2020121 Total 2019120 Total i£oooi i£ooo} {£OLK)} i£ooo (£000) Income and ¢ndov*Yngnts from- Donations Grdnl In(￿me Legacie Other trading a&ivltle$ Inv&stments 633 119 62 15 648 119 82 156 82 79 39 28 28 Total Incom• 815 858 356 Expendlturg on- Rai8ing funds Charitable activitios Govarnanca costs 123) 15891 {14} (28) 1105) {15) (1} 1521 16941 {29} 1731 (3971 145} Total eX￿ndItU 1626) 11481 (1 17751 (515) Net Income I (Ex￿ndI￿r¢) 189 (1051 153 83 {1591 11271 Net Gains l {Lossg81 on Investm¢nts" 16 153 Nat movement in funds 189 286 Roconciliatlm of FuNJ$ Funds brought fowd 21 1,724 23 2,453 2,739 Totsl funds carrfed forward 895 1,772 22 2,453 iibngkn H&allh Charitsb18 Funds Annua5 A¢￿Unts Ppge 6 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Balance Sheet at 31 March 2021 Notè Unrestricted Funds Restrlcted Endowment 2020121 Total 2019120 Total i£oooi i£oooi (£oooi {£oooi i£oooi Fixed AsBetB Investmen15 16 1,104 1,104 951 Total fixgd #58èts 1,104 1.104 951 Curr•nt Assats Debtors Cash Stock 17 18 1,131 7e8 14 24 1,923 14 1,564 Total current a$8•t$ 1,133 785 24 1,942 1,580 Liabilities Creditors due within one year 19 12381 11171 121 1357) {78} 1,502 Net current assèts I Ilabllltlos 895 668 22 1.585 Totsl assèts less current liabilities 895 22 Thè funds of the Charlty Endowment funds Restricted income funds Unrestricted income funds 21 21 21 22 22 1,772 895 23 1.724 706 1.772 895 Total funds carried forward 895 22 On behalf of the Whittington Hospital NHS Trust Charitable Funds K£ Kevin Curnow Chief Finance Offi'cer 12 January 2022 Whittington H8811h Charitabl8 Fund5 Annual A¢￿UnIS Pago T of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Notes to the accounts for the year ended 31 March 2021 1. Accounting Policies Basls of preparation The financial staternents have been prepared under the historic cost convention. wth the ex￿ption of investments, which are included at marf(et value. Furthermore, Ihe fin8ncial statements have been rounded to the nearest (£OOOl and the presentation cu￿encY is GBP. The financial stalements have been prepared in accordance with the Statement of Recommended Practsce.. Accounting and Reporting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102) issued on 16th July 2D14 and the Financial Reports"r)g Standard applicable in the unit￿ Kingdom and Republic of Ireland IFRS 1021 and the Charib"e$ Act 2011 and UK Generally Accepled Practice as it applies frcxn 1 January 2015. The accounts have been prepared to give Xrue and fair and have departed from the Charities Regulations 2008 only lo the exterrt reqUI￿d to promde a 'tru8 and fair vièvl. The trustees consider that there are no maierial uncertainlies aboLrt the Charity's ability to continue a8 a going concern. There are no matertal uncertainties affecting the current yea¢s awounts. In future years, the key risks to the Charity are a fall in income from donalKJns or investment income but the trustees have arrangements in place to mibgate those risks. The Charity me8ts the definition of a public benefft entrty under FRS 102. Funds gtrncture Where there is a legal restriction on the purF￿e io which a fund may be pu( the fund is classiff ed either as an endowment fund, where the dortor has expressly prov>ded that only the inGome of the fLtnd may be expended, or as a restricled ir￿rne fund where the donor ha5 pfovKJed for the donation to be spent in furtherance of a spe￿fied charitable fund. The Trust has one endowment fvnd. where the ¢￿pital is held to generate income for charitable purposes. Unrestricted income funds Nthich are sub analysed befvEen designated funds where the tru51ees have set aside amount to be used for 8pectfic purposes, often reflects.ng the non-binding wshes of the donors and unrestricted funds which are applicable for any purp)se of the charity, Incoming resources All incorning resources are recc¥Jnised Or￿ the charity has entitlement to the resources, il is certain that the resources wll be received and the monelary value of incoming resources can be measured with sufficient reliabilty. Where there are temis and condfoons attached to incoming reSoU￿s, particularly grants, then these terms or conditions must be met before the income is recognised as the entillemenl Condition 11 not be satisfied until that winL IM)itb'ngton Helth Charitsblg Funds Annua5 AccDunl$ Pag& 8 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Incomlng resour¢¢s from legacies LegaGies are accounted for as in¢oming resources either upon receipt or ￿ere the receipt of the legacy is virtually certain.. this wll be once confimiab'on has been re(￿1Ved from the representatives of the estalel81 that payment of the legacy wll ￿ made or property transferrèd and once a51 condfcions hav8 been fulfilled and il is virtually certain that the amount of incoming restsLJrce8 IS known. Incoming ￿oUrceS from endowmont funds The incoming resour￿$ rece￿￿ from the invested endowment fund are wholly restr¢cted. Resources expended and Irrecoverable VAT All expenditure is accounted for on an accnjals basis and has been classified under headings that aggregate all costs related to ea¢h category of expense shoiNn in the Statement of Finanaal Aclivilie5. Exwditur8 is recognised when the followng criteria are met.. a. There is a present legal or constructive obligation reSu￿1ng from a past event b. It is more likely than not that a transfer of benefits {usually a cash payment) will be required in settlement The amount of the obligation can ts measured or estimated reliably. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Grants are only made to related or third party NHS bodieg and non NHS tthies in furtherance of the charitable obj-ects of the funds. A liability of SLth gpnls is recognised when approval has been given by the trustee. Allocatlon of overhead and support CO8ts Ovethead and support costs are those costs wh￿h do not relate directly to a single activity. These include some staff costs, costs of administrabon, intemal and external audil ¢o$tg and IT support. Support costs have been apportioned betr￿en fundraising costs and charitable a¢tNities on an appropriate basis. The analysis of Support costs and the basis of apFKJrtionment applied are shown in note 12. Where costs are shared by or more charitable activities, support costs have been apportioned between categories. for example, financial administrats.on Ix)sts, on the basis of fund value. Expendlture on raislng funds The expenditure on raising fvnds are ItrK)se ￿)Sts attributable to generating incoming resources for the c*arily including fvndraising and investment management costs. Expendllure on charitsbl& activities Costs of charitable acb'vities comprise all cosls incurred in the pursuit of the charitable objectives of the charity. The￿ costs, where not wholly attributable, are appJrb'oned be￿￿en the Cal￿OrieS of charitable expenditure in addition to the direct costs. The iolal costs of e￿h Cal￿Ory of charitable eXp￿dit￿re therefore Ir￿lude support cx)sts and an apporbonment of overheads, as shown in note Govemance Costs G0veMan￿ costs comprise all costs attributable to ensuring the public ￿XX)untabl[ity of the charity and rfcs complianee with regulation and go(xl practi￿. These costs include those related to Stattjtory audit and are included in expenditure on 'Charitab￿ aCtiV￿es.. IAhitbn9kn1 Health charitab￿ Fund5 Annu81 Accounts Page 9 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 Flxed asset Investments Investments are stated al market value as at the balan(* Sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposal throughout the year. Quoted stocks and shares are included in the balan￿ sheet at mid-market price, excluding dividend. Realised gains and losses All gains and losses are taken to the statement of financial activities as they arise, Realised gains and losses on investments are calculated as the drfference btheen sales proceeds and opening market value (purchase dale if later). Unrealised gains and losses are ¢al¢ulated as the difference be￿￿￿ the carrying value at the year end and opening market value. Accounting for trade receivables and trade payablos Current assets and current liabilities arising from contractual rights or obligations (for example trade debtors or trade liabilities) are carried in the balan￿ sheet at the cash amount or other consideration exp￿ed to be received or paKI in their setuement. Pgnslons All staff members recharged to Charitab￿ funds are on the payroll of the Whittington Health NHS Trus( which deducts any pension contributions due. The gross cost including pension contributions is charged to charitable funds. Risk Acceptable risk - A °medium risk. approach is to be adopted in the management of the charlty's investment assets. This is noted on the Trust Risk Register. Investment stratggy The airn of the portlolio struthre is to provide tM)th long tenn growih in capital values and income to maintain those values in real terms. This is achieved throLJgh a balance be￿een fixed assets securities, UK equities and collectNe funds such as unf( trust and investment trusts. As there have been significant dra￿dOWn5 over the years, rfs been necessary to take a gradually lower risk profile with the remaining assets. The Trustee has made the following elhi¢al provisions within their instwctions to the inveslment managers such as no investment in tobacco Inor vaping) ¢ompanies. no investment in businesses whose primary role is the manufacture of amiaments and investments in alcohol producers and related companies should be kept in mcmjeration. The trustee aims lo maintain sufficient liquid cash resources available to meet six months, estimated payment commitments. Consolidatlon of Charity a¢¢ounts with linked NHS body A5 charitable income dLSring the year is less than of the Trust's revenue {£1m Compared to £350m}, the fijnds are not considered suffi¢ienty material consolidated accounts to be prepared. The posloion will be revwied annually to confim whether or not the charity's funds are material enough for consolidation to be appropriate. Flnancial ingtruments The Charity only has financial assets and financial liabilities of a kind that qualify a8 basic financial instruments. Basic financial instruments are inits.ally recognised at transaction value and subsequently measured at their setuement value. Whilbngtrjn Health Ch8ritable Funds Annual Accounts P899 10 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 2. Prior year comparatlves by type of fund Paragraph 4.2 of the SORP states that FRS102 requires that comparatwe informab'on must be provided for all amounts in the Statement of Financial ActNities {SoFA}. The SORP requires that comparative information for the total fund5 of a charty musl be provided on the face of the SOFA and comparative information for each class of funds can prowded either on the frdce of the SOFA or in a note to the accounts. The primary statements prowde prior year comparatives in totsl,. this note provides prior period comparativos for the SOFA and the Balance Sheet for each of the three types of funds that Whittington Charity manages. The prior year Gomparatives have been resiated to rel￿t Ihe transfer of tsvo fomier restricted funds to the unrestricted funds category, on reV￿W of their purposes. This has not impacted the overall value of funds. but how they are categorised on the balance sheeL Unrgstrlctod Rostrictod EndoY4m•nt Fun(ts 2019120 Total 2018119 Totsl {£oooi (£000 (£000) (£000 {£ooo> Incomo 8nd •ndowm•nts from - Donations Legacies Other tradirwd activities Investments 156 82 79 39 133 38 77 82 39 Total Income 218 138 356 291 Expenditure on - RaisiNJ funds Charitable activities GEw8mance o)sts 144) {124} (24} (281 (2731 (21) {1) {731 13971 {451 {731 11,1681 137) Totsl expendlture (192 (322 15151 {1,2781 Ngt In¢om• l {Exp￿dItUr8} 26 1184) (1} (159 (9871 Gains I (Losses) {127} (1271 37 Not movement in funds 311 286 950 Reconciliation of Funds Funds brought forward 2,035 24 2,739 3,689 Total funds carrt•d forward 23 bitbw H881th Charifable FundsAnnual A(xy)un Pi9ge 11 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 3. Related party transaction5 The corporate Trustee consisted of ef(her employees of Ihe Whittington Health NHS Trust or non- executW8 directors of Whtttington Healih NHS TTUSt. During the year none of th8 employees or non•executNe directors acting as Corporate Trustees or members of the key management staff or parties related to them has undertaken and transaction8 with Whittington Hospital NHS Trust Charitab18 Funds. 4. Income from donatlons and legacles Donatlons from individuals are girls from members of the publiq relatives of pab'ents and staff. Unrestricted R08trlcted Fund6 Funds {£ooo) Totsl 2021 i£ooo) Total 2020 i£ooo} {£ooo) CorpLirate & personal donations Legacies Grants 833 62 119 15 648 62 119 156 82 Total 814 15 829 238 S. Analysls of Income from other trading activitl8S Paragraph 4.42 of the SORP requires that the notes to the accounts provide an analysis of the material componenis of income included within e&h analysis headin9 of the Statement ol Financial Activities (SOFA). Unre6tri¢tod Rfjstrl¢tod Funds Funds (£oooi Total 2021 {£oooi Total 2020 i£ooo) (£oooi Merchandising Events organised by volunteers Total 72 79 6. Role of volunteers Like all charrfcies, Whittington Charity is relkqnt on a team of volunteers for our smooth njnning. Our volunteers provide two key roles, Fund Jlwsors and Fund Raisers. rtt￿l9tr￿ Health Charitable Funds Annual Aco)unts Pao& 12 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 7. Gross Investment income Unrestrictad Rastrfctsd Endowmènt Funds 2020121 Total 2019120 Totsl (£ooo} {£ooo} £oooi (£000) (£oooi Fixad A8Sèt Equity Cash De[￿1 27 27 35 Total 28 28 39 8. Analysls of expenditure on rdislng funds 2020121 {£ooo) 2019120 i£ooo> Fundraising office Fundraising events 53 60 13 Total 52 73 9. Analysis of Charitable and governance axpenditure The charity did not undertake any direct charitabk activit￿$ on its own account during the year. All of the charttable expenditure Wds in the fomi of grant funding. The expenditure below indudes governance costs in the 2020-21 year of £28k", these Costs were £45k in 2019-20. 2020121 (£000) 2019120 {£ooo) Patients Equipment Staff Ilraining, research and other) Supwrt staff costs Consultancy Statutory independent ex8mination fees Total 57 284 298 BO 303 29 65 32 723 442 10.Analysls of grants The Charity did not make any grants to indNiduals for 2020121 or 2019120. 11.Movem8nt in funding commitments As al 31 March 2021. there were rKJ funding commitments (2019120.. Nil) thrtbngbjn Hoatth Choritable Fund8 Annual Ao>)unts Pag6 13 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 12.Allocation of Support costs and ovorheads Support and ovethead c4)sts are allocated iEtsveen fundraising a¢tivities and charitable activitM. Governance costs are those SUPF(Jrt costs that relate to Ihe strategi¢ and day to day managem8nt of a Gharity. Unrostrtcted Restrictgd Funds Funds (£000) {£oooi Total 2021 i£ooo> Totsl 2020 {£ooo) Raising funds GoVernar￿e Costs 29 14 51 24 32 32 10 Totsl 32 75 13.Trustees' remuneratton, benefits and expènses The charity's trustees give Iheir time freely and receive no remuneration for the wot1( that they undertake as trustees. However, they Can ¢laim expenses to reimburse them for ¢ost$ that Ihey incur in fuKilling their duties. Please note that none of the trustees are employed full time by the Whittington Charity. No expenses were reimbursed to Trustees in 202012112019120 Nill. 14. Analysis of staff costs and rernuneration of key management personnel The Whittington Charity does not employ any staff direcuy. There are five contracted employees of Mft7illington He81th NHS Trust who provTrde day lo day management and administration services for the Charity. Their salaries are paid by Whittington Heatth NHS Trust and are Charged to the Charity on a pr(￿￿ta basis, depending upon their time spent involved with charity duties. Further Note 13 above: it is noted that none of the Whilbngton Health NHS Trust staff who comprise the Corporate Trustee are charged to the Chanty. The total staff costs recharged to the Charity for 2020121 was £131.2k1201912D £98k) The increase year on year is due to a new Head of Charity role created throughout the year and additional administrative SUPFKKt lo help with the Charity's resw)nse to the Cowd 19 pandemic. 16.Ind8pend8nt examiners fees The independent examiners fee of £3k (2019120= £3kl related solely to the review wth no additional work being undertaken. IAthrtb"Wn HeJth Charitable Funds Annual Act￿nts Pag6 14 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 16. Fixèd asset Inveslments All investments are Carrted at fair value. The sHJnffiCan￿ of finan¢ial instruments to the ongoing rinancial sustainability of Whittington Charity is considered in the risk analysis section of the trustees, annual report. 2020121 {£oooi 2019120 {£oooi Fixgd asset Investrngnts UK equities Overseas equities Bonds and fixed interest Property Other {including cash held by managers) Total Llsted Investments 434 362 264 227 211 65 84 951 60 54 1,104 Cash on interest bearing deposit Total 951 Rgconclllatlon of fixod assBt investments T¥8n8f•rs Cfwd Balanca at 3110312021 Balance at 0110412020 Galn# I (Losses) UK Equi￿eS Ov¢r8eas Equftles Bond5 and fixed Interest Property Other lind cashl 70 135 {171 {51 1301 153 434 362 194 227 211 54 Listed Investmonts 951 C88h On interest bearing deposf( Total 951 153 The main risk from financial instruments lies in the combination of uncertain investment markets and volatility in yield. Due to 'quanlitative easing" and the market favoLrrsng lower risk ivveslmenls, the yield on bonés has been low giving rise to a signtficant downside risk of a fall in capital value5 when interest rates retum to °normal' levels. Whittington Charity manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification within investment asset classes. I￿rt￿n9¢9n Health Charitable Fund8 Annu81 Account¥ PEg$ 15 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 17.Analysl8 of current debtors 2020121 (£oooi 2019120 (£oooi Debtors under 1 year Trade debtors Total 18.Analysis of cash and Cash equivalents 2020121 i£0(￿) 2019120 (£oooi Cash in hand 1,923 1,564 Total ca8h and cash equlvalents The notice deposrts are sums held on inte￿1 bearing deposit with any bank and represent restricted appeals lo fund swific equipment or ftjnds to facilitate cash-flow. The funds are held on a 90 day notice account and therefore classffied a5 liquid and therefore cash and cash equivalent No cash or cash equivalent were held in non-cash investsnents or OLrtsKle of ihe U All of the amounts held on interest bearing depxjsrt are available to spend on charitsble aclNities. 19.Analysis of liabilities 2020121 {£ooo} 2019120 (£ooo} Credltors under 1 y8ar Charitable actimlies Recharges for staff salaries Deferred Income Independeftl Examination Fees 206 148 75 Total 357 78 Whitlinglon Charity dDes not hav8 any (ThYitor3 greater than l year1201 gr20: Nil} 20.Transfer between funds There has been no transfer betsveen ftjnds during 2020121; (2019f20.. Nil) Whitbngton H8alth charitab￿ Fund5 Annual Accounts Page 16 of 18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 21.Analysis of charitable fund5 la} Analysis of fund movements for 2020121 Gain I (Loss} {£ooo) 8fwd i£ooo) In¢om* Expenditurn Transfers (£oooi i£oooi i£[￿}0) Cthvd i£ooo) Fund type Restrict&J Unrestricted End0￿ent 1,724 11481 (6261 {11 153 1,TT2 895 22 815 23 Total 775 153 {b> Analys1$ of tund movemonts for 2019120 Gain I (Loss) {£ooo) B￿d i£ooo) Incomo Expendltur• Transfer4 Clfwd i£oooi {£ooo) {£ooo} i£oooi Fund type Restricted Unrestricted Endowment 2,035 680 24 138 218 {322) {192) (1) {127} 1,724 706 23 Total 515 127 The trustees set an opening or closing balan￿ of £100,000 or above as the threshold for the separate rewrting of material designated leamKrkedl funds. In the Inte￿$1 of a(xountability and transparency a complete breakdown of all such funds is avaiL8ble upon written request. Analysis of material funds is included in the following table. Materlal Fund Name Balance at 3110312021 £000 Pury)ose The Kanitz Be uest Andre Kanitz Be Vest General Re51ricled Fund 652 118 156 Earmarked for Trusts ITU unil. Earmarked for cancer research. These fvnds are ring-fenceé and ear marked for allocation across Restricted funds, For use of Montuschi ward to improve medical and clinical services as well a9 Staff welfare. For projects supporting staff and patients in nse to the COVKI 19 andemi¢ Montuschi 102 Covicl 19 307 22. Total return on investments The total retum on investments for 2020121 a £153k gain,12019120.' £127k loss) Whittington H8alth chartsb￿ Funds Annual Aco)unts Page glof18

The Whittington Hospital NHS Trust Charitable Funds Registered Charity 1056452 23. Post Balance Shegt Events Since 31 March 2021. wodd economies have b￿Jun to recover from the effects of COV1￿19. The harity has continued in its determination that these events are non-adjusting events. In the prior Financial Year, the Gharity had also detemiin&J that these events were non-adjusting subsequent events. Ac(xirdingly, the financial position and results of operations as of and for the year ended 31 March 2021 were not ajjusted to tefiect their impact. ilthgbn Haallh Charitable Fund$ Annual Page t8 of 18