SIGNI "Ii'l(J cop Whittington Health Charity Annual Report for the year ending 31 March 2024 Whittington Health Charity is the working name of Whittington Hospital NHS Trust Charitable Funds Registered charity number: 1056452 Whittington Health Charity Whittington Hospital Magdala Avenue London N195NF 11 Pas_
Schedule of Contents Contents Page 1. Contents 2. Statement from the Chair 3. About the Charity 4. Examples of Projects Funded 5. Trustee Report 6. Independént Examlners Report 9-10 7. Statement of Financial AGtivities 11 8. Balance Sheet 12 9. Notes to the Accounts 13-24
Statement and welcome from the Chair It is my pleasure to begin my statement by thanking all those who kindly supported Whittington Health Charity in 2023-24. We have funded some truly impactful projects, which would not have been possible without the generoslty of our donors. We have had two main goals over the last year. to put ourselves in a position to be able to raise more funds so that we can better support patients, staff and the community, and to refino our grant-making approach to ensure that we maximise the impact of donated funds. As reported in last yearfs annual report, More Partnership completed public and high-value fundraising reviews in the final quarter of 2022-23, part-funded by a grant from NHS Charities Together. Overthe past 12 months, the Charity has implemented the reports, recommendations, with the aim of achieving sustainable fundraising growth In future. We have also made some important revisions to our approach to grant-making. We imp18mented a two-year grant-making strategy on 1 April 2023, which set out the following five objectives: 1. Fund the purchase of state-of-the-art equipment and tochnology to deliver measurable improvements to patient care 2. Deliver 8 minimum of 10 projects across multlple Trust sites that provide sustainable improvements to the health environment 3. Fund a minimum of five projects that improve and promote access to health services - particularly projects targeting vulnerable and underserved communities 4. Deliv@r measurable and sustsinab18 improvements to staff wellbeing 5. Fund six projects that deliver innovative solutions to enhance the care provided to patients All grants are assessed against the following impact goals: Improve palient outcomes Improve patient experience Improve family experienc8 Increase the number of patients treated Twelve months into the strategy, the Charity is now_funding fewer projects, but at higher value, compartd to previous years. These projects are allowing us to have more impact and do more to support patients, stsff and our local community. This report details a range of projects funded by the Chaiity in the reporting period, such as the support offered to cancer patients. We've also continued (o enhance the work of the Michael Palin Centre thanks to the Stuttering Foundation of America's very generous support. On a smaller scale, bLrt no less important, the newly created Urgent Assistance Fund allows us to mobilise support quickly forfamilies facing Incredibly challenging circumstances with small but highly targeted and effectlve grants. The Charity has undertaken extensive work in securing significant donations in 2023-24, which have enabled some major transformations to the health environment at Vvhittington Hospital and at community sites. This includes donated Gifts in Kind of £54k. The Charity's increased visibility- particularly at Whittington Hospital- has been notable. The brand installation detailed In 2022-23 has been complemenled by other projects, particularly the use of the Trust's visitor Wi-Fi neork to infomi visitors about the worf( of the Charity. This has seen the charity increase its email subscribers by more than 2700/0 overthe year. Amanda Gibbon Chalr of Whittington Health Charitable Funds Committee
About the Trust Whittington Health NHS Trust aims to help local people live Icng8r and heallhier lives by providing safe, personal, coordinat8d care for the community it serves. The Trust provides hospital and community care services to 500,000 people living In Islington and Haringey as well as other London boroughs including Barnet, Enfleld, Camden and Hackngy. As one organisation providing both hospital and community services, it is known a5 an 'integrated care organisation,. The Trust employs 4,400 staff. A large range of services are provided from the hospital site in Archway, including accident and emergency (A&E), maternity and neonatal, surgical and medical specialities, diagnostic, therapies and eldedy care. It also runs SONiC8S from 30 community locations. As an integrated care organisation, it brings high-quality services closer to home and speeds up Gommunication between Gommunlty and hospit81 service8, improving patients, experienceg. Key to its approach is partnering with patients, carers, GPS, social care, mental h9alth and other healthcare providers. The Trust has a highly regardgd educational role. It teaches undergraduate medical students (as part of UCL Medical School) and nurses and therapists and provides a range of educationa packages for postgraduate doctors and other heallhcare profession81s. About the Charity Whittington Health Charity (the working name of The Whittington Hospital NHS Trust Charitable Fund) 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 innovative projects, we can offer patients the highest standards of Gare in the best possible surroundings. The Charily focuses its support on projects In the following areas: State-of-the-art equipment and technology Enhancing the health environment Patient and community wellbeing Staff wellbeing Innovation In order for a project to recelve funding, it must demonstrate clear additionality. wa 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 transformationa5 initiatives. Our aim Is for donated funds to go further. Fundraising The Charity raised £180k from donations and Gifts in Kind {£313k in 2022123), £286k from grants (£41 k in 2023), £18k from legacy gifts (£22k in 2022123), £23k from merchandising {£24k in 2023) and £44k {£29k in 2022123) from investment activity, making a total in excess of £551 k (£429k in 2023) raised.
Income for 3 years to 31/0312024 TOTAL INVESTMENTS OTHER T'IWDNG ACTivrr*s LEGACES GRANT INCOME DONATIONS i(J) 2(k) 3CQ 4C 5%X) 2022 * 2023 • 2024 Total Expenditure to 31° March 2024 closed at £768k, (£417k in 2022123) and was made up under the following categories: charitable activities £532k - which includes £54k of Gifts in Kind expenditure- (£255k in 2022123, £Ok Gifts in Kind), raising funds £198k (£122k in 2022123), and governance costs of £39k, (£40k in 2022123)- The Charity has increased its expenditure on various projects. Turkish Pain Management for £16k, Ultrasound Scanner £22k, play items for the Paediatric department £13k, and paintings for the hospital walls of £9k, to name a few. The increase in fund raising expenditure this year is a result of the Charity expanding and employing a High Net-worth Fundraiser. The commitment accruals for one year remained consistent at £158k 2023124 compared to £155k 2022123. Income from general donations remains low. which may be a reflection of the continuing cost of living crises, as well as a return to more usual levels of giving after the large spike in COVID-19 pandemic-related donations. However. grant income increased from £41 k in 2022123 to £286k in 2023124. The Stuttering Foundation Grant of £196k is included wthin this figure. Gifts in Kind of £54k have also been included in income and expenditure, under donations and charitable activities. as per the SORP (FRS102) guidelines. Expenditure for 3 years to 3110312024 TOTAL GOVERNANCE COSTS CHARttA8LE ACTIVITIES RAI%NG FUNDS 2(¥J 1200 2022 • 2023 • 2024
Examples of projects funded in 2023-24 Com lementa thera ie5 for cancer atients Treatment for cancer can be gruelling, lengthy, invasive, and often leaves patients with long-term worrie5, In addition to the physlcal scarring, patients.can experience lingering anxiety and depresslon. With charitable support, patients have been able to beneflt from complementary therapies, including specialised massage and acupunGture. Whether provided during or after cancer treatment. these theraples improve patients, physical and mental wellbeing during their recovery, when delivered alongside treatments such as radiotherapy and chemotherapy. In addition. the therapy sessions provide patients with a safe, supportive outlet to share their experiences. A survey of programme participants found that over 80,10 felt that the programme helped them to be more open about discussing their diagnosis and treatment with hiends and family., These treatments are provided at no cost to patients. the programme Is funded entirely by the Charity. C Factor- An innovatlve and uni uesu ort rou Our support for cancer patients also extended to support groups. A diagnosis of cancer may influence a person's mood, their relationships, activities, spirituality, work, or other areas cf their lrfe. The C Factor offers supportive sessions for people with cancer. This innovative and award- winning group inteNention uses a storytelling approach, focused on performance and creative writing, to discuss the emotlonal effects of cancer and ts treatment. One patient remarked that, 'the C Faclor brings a n8w way to engage with canr experiences that is not just medical or soGial'. Su rtin those in u need Often, our smallest grants can make the bigg8St impact. In 2023-24, the Charity established th8 Urgent Assistsnce Fund- a programme of small grants- to respond immediately when the aim is to relieve suffering andlor deliverjoyful experiences when time is of the essence. The focus is often on supporting familles experiencing the combined pressures of financial h8rdship and a medical emergency. Thls past year, we have supported a family whose baby w8s receiving care in our NeonaLg1 Intensive Care Unit, we purchased a Moses basket to support a family as they moved Iheir deceased baby, and we enabled a young patient dealing with physical disabilities resulting from Ghemoth8rapy and radiotherapy to attend a cinema screening. Sin for Your Lun The Charity continued to fund the Sing for Your Lungs group, supporting patlents with long-temi respiratory conditions. Delivered by music therapists, Sing for Your Lungs is both a form of treatment and a vital opportunity to engage with a wider group. Long Covid has only served to increase the number of people suffering wlth respiratory condrtions, and thus the importance of Sing for Your Lungs, delivered by two music therapists, has increased signrficantly. Micha&l Palin Centre for Stammerin Continuing their support from 2022-23, the Stuttering Foundation of America made a US$250,000 grant towards the Michael Palin Centre for Stsmmering, The funds enabled the Csntre to employ four additional therapists, allowing mor& children with stammers to access the world-renowne treatment provided by the Centre. With one in 12 children in the UK having a stammer at some point in their lives, the Centre cannot possibly provide care to all who need it. However, through a national helpline, extensive therapist training programmes and res8arGh studies. it has a crucial role to play in ensuring that a child's location does not adversely affect the quality of care that they receive.
News and structural changes As the Charity has grown this year, it has seen some structural change, and now employs a grants officer. The post is central to ensuring that donated funds achieve maximum impact. The More Partnership. a fundraising consuliancy fimi wth specialist NHS charities expertise, also completed their reviews into the Charity's public and high value fundraising. The majority of their recommendations have now been implemented and. going forward, these will help the Charity to achieve sustainable growth. Charity Contact To find out how you can get involved and support the Charity. please visit www.whittin tonhealthchari email fundraisin .whitthealth nhs.net or call the Charity team on 020 7288 3402
Whittington Health Charity Financial Annual Report for the year ending 31 March 2024 Registered charity number: 1056452 statement of Trustee's responsibilities in respect of the Trustee's annual report and accounts Under oharity law, the Trustee is responsiblefor preparing the Trustee's Annual Report and accounts for each financial year which show true and falr vlew of the state of affalrs of the charity and of the excess of expenditure over funds raised for that period. In preparing these financial statements, generally accepted accounting practice entails that the Trustee: Selects suitable accounting policies and then applies th8m consist8ntly. Makes judgements and estimates that are reasonable and prudent. States whether the recommendations of the Statement of Recommended Practice (SORP) have been followed, subject to any material departures disclosed and explained in the financial statements. States whether the financial statements comply with the Trust deed, subject to 8ny materlal departures disclosed and explained in the financial statements. Prepares the financlal statements on the going concem basis unless it is inappropriate to presume that the charity will continue its actlvities. The trustees are required to act in accordance with the trust deed and the rules of the charity, within the framework of trust lavv. The truslees are responsible for keeping proper accounting records, sufficient to disclose at any time with reasonable accuracy, the financial position of the charity atthat time, and enable the trustees to ensure that, where any statements of accounls are prepared by the trustees under section 132(1) of Charities Act 2011, those statements of accounts comply with the requirements of regulations under that provision. The trustees have general responsibility for taking Such steps as are reasonably open to the trustees to safeguard the assets of the charity and to prevent ané detect fraud and other irregularities. Signed on behalf of the Trustees: Clare Dollery, Actlng Chief Executive Officer Date.. 0111012024
Independent Examiners Report to the Trustees of the Whittington Hospital NHS Trust Charitable Funds continued I report to the charity trustees on my examination of the accounts of the charity for fh8 year ended 31 March 2024, which comprises the Statement of Financial Activities, the Balance Sheet and the related notes, as set out on pages 14 to 25. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Fleports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permltted by law, I do not accept or assume responsibilily to anyone other than the charity and th8 charty's Trustees, as a body, for my work orfor this report. Responsibilities and basls of report As the charity's trustees you are responsible for the preparation of the accounts in accordance wlth the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under sectlon 145 of the Act and In Carrying out my examination I have followed all fh8 applicable Dir@ctions given by the Charity Commission under section 145(5)(b) of the Act. Independent examlner's statement The charity's gross income exceeded £25,OQO and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accounts in England & Wales (ICAEW). Your attention is drawn to the fact that the Gharity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statetnent of Recommended Practice applic8ble to charities preparing thelr accounts in accordan with the Financial Reporting Stsndard applicable In the UK and Republic of Ireland (FRS 102) In preference to Accounting and Reporting by Charities: Statement of Recommended Practlce issued in 1 April 2005 which is referred to in the extant regulations but has since been withdrawn, l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting PractiGe effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no material matters have como to my attention in connection with the examination giving me cause to believe that In any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the the accounts do not accord with those records,. or the accounts do not complywith the applicable requirements concerning theform and content of accounts set out in the Charities (Accounts and Reports} Regulations 2008 otherthan any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination.
I have no concems and have come across no other matters in connection wlth th8 examination to which attention should b8 drawn in this report in order to enable a proper understsnding of the accounts to be reached. Robert Srnlth ACA Griffin Stone Moscrop & Co 21-27 Lamb's Conduit street London WC1N 3GS Dated: io
Statement of Financial Activities for the year ended 31 March 2024 Note Unrestricted Funds (£000 Restricted Endowment 2023124 Total {£ooo) 2022123 Total (£000) i£ooo) (£000) Income and endowments from - Donations Grant Income Legacies Other trading aclivities Investments 164 31 18 23 15 16 255 180 286 18 23 44 313 41 22 24 29 29 Total Incorne 251 300 551 429 Expenditure on- Raising funds Charitable activities G0Veman costs (187) (122) (39) {11) (409) (198) (5311 (39) (122) (255) (40) Total expenditure 420 768 (417} Net Income l (Expenditure) (97) {120 (217} 12 Nel Gains I (Losses) on Inveslmants 16 87 87 (97) Net movement in funds 10 120 130 Reconclliation of Funds Funds brought forward 2022123 21 343 1.724 18 2.085 2,170 27 Transfer between funds (27) Total funds carried forward 360 1.577 18 1,955 2,085 li
Balance Sheet at 31 March 2024 Note Unrestricted Funds Restrlcted Endowment 2023124 Total (£000) 2022123 Total (£000) (£000) {£ooo) i£ooo) Fixed Assets Investments 16 1.108 1,108 1,029 Total fixed assets 1,108 1,108 1.029 Current Asset5 Debtors Cash Stock 17 18 993 32 1.034 10 1,678 14 10 Total current assets 994 19 32 1,045 1,693 Llabilities Creditors due within one year 19 (10) (188) (198) (637) Net current assets I Ilabllllies 984 (169) 32 847 1,056 Total assets less current liabilities 984 939 32 1,955 2,085 The funds of the Charity Endowment funds Restricted income funds Unrestricted income funds 21 21 21 18 18 1,577 360 18 1.724 343 1,577 360 Total funds carried forward 360 1,577 18 1,955 2,085 On behalf of the Whittington Hospital NHS Trust Charitable Funds Acting Chief Executive Officer Date 0111012024 12
Notes to the accounts for the year ended 31 March 2024 1. Accounting Policies Basls of preparation The financial statements have been prepared under the historic cost convention, with the exception of investments, which are included at market value. Furthermore, the financlal statements have been rounded to the nearest (£OOOI and the presentation currency is GBP. The financial statements have been prepared In accordance with the Statement of Recommended Practice: Accounting and Reporting by Ch8rities preparing their accounts in accordancg with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16th July 2014 and the Financial Reporting Standard applicable in the United Kingdom and R@publio of Ireland {FRS 102) and the Charities AGt 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. The accounts have been prepared to glve Yrue and fair view and have departed from the Charlties Regulations 2008 only to the extent required to provide a 'true and fair vi8W'. The trustees consider that there are no material uncertainties about the Gharity's ability to ontinue as a going COnrn. There are no material uncertslntles affecting the current yearfs acGOUnts. In future years, th8 key risks to th8 Charity are a fall in income frorn donations or investment income but the trustees have arrdngements in Pla to mitigate those risks. The Charity meets the definition of a public benefit entity under FRS 102. Funds structure Where there is a legal restrictlon on the purpose to which a fund may be put, the fund is classified elther as an endowment fund, where the donor has expressly provided that only the income of the fund may be expended, or as a restricted income fund where the dDnor has provided for the donation to be spent in furtherance of a specified charitable fund. Th8 Trust has one endowment fund, where the capita1 is held to generate income for charitable purposes. Unrestricted income funds which are sub analysed between designated funds where the trustees have set aside amount to be used for specific purposes. often reflecting the non- binding wishes of the donors and unr6Strictgd funds which are applicable for any pUoSe of the Charity. Incoming resources All incoming resources are recognised once the Charty has entitlement to the resources, It is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Where there are terms and conditions attached to incoming resoLsrces, particul8rly 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. 13
Incomlng resources from legacies Legacles are accounted for as incoming resources either upon receipt or where the receipt of the legacy is virtually certain: this will be once confirmation has been received from the representatives of the estate(s) that payment of the legacy will be made, or property tr2nsferrèd and once all conditions have been fulfilled and it is virtually certain thatth8 amount of incoming resources Is known. Incoming resources from endowment funds The incomlng resources received from the invested endowment fund are wholly restricted. Resources expended and irrecov8rab18 VAT All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relatgd to each category of expense shown in the Statement of Financial Activities. Expendlture Is recognised when the following criteria are met: a, There is a present legal or constructive obligation resulting 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 c. The amount of the obligation can be measured or estimated reliably. Irr8coverab18 VAT is charged ag8inst the category of resources expended for which it was incurred. Vat exemption certificates are issued to suppliers where appropriate. Grants are only Tllade to la{ed orthird party NHS bodies and non NHS bodies in furtherance of the charitable objects of the nds. A liability of such grants is recognised when approval has been given by the trustee. Allocatlon of overhead and support costs Overhead and support costs are those costs which do not relate directly to a sing18 activity. These include staff costs, costs of administration, intemal and external audit costs and IT support. Support costs have been apportioned between fundraising ccsts, governance and charitable activities. The analysis of support costs and the basis of apportionment applied are shown in note 12. Staff costs are apportioned between the unrestricted fund categories, on the basis of the fund value. Expenditur8 on raising funds The expenditure on raising funds are those costs attributable to generaling incoming resources for the charity including fundraising and investment management costs. Expenditure on charltable actlvltles Costs of Charitable Activities comprise all costs incurred in the pursuit of the charitable objectives of the Charity. These costs, where not wholly attributable, are apportioned belwe8n th8 categories of charitable expendlture In addition to the direct costs. The total costs of each category of charitable expenditure therefore include support costs and an apportionment of overheads, as shown in note 9. Governance Costs Govemance costs comprise all costs attributable to ensuring the public accountability of the charity and its Compliance with regulation and good practice. These costs include those related to statutory audit and are induded in expenditure in 'Charitable Activities,. 14
Fixed asset investments Investments are stated at marf(et value as at the balance sheet date. The statement of financial activities includes the net galns and losses arising on revaluation and disposal throughout the year. Quoted stocks and shares a included in the balance shegt at mid-market price, including dividends. Realised gains and losses All gains and losses are taken to the statement of financial activities as they arise. Realised gains and lossos on Investments are calculat&d as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the carrying value at the year end and opgning market value. Accountlng for trade receivables and trade payables Current assets and current liabilities arising from contractual rights or obllgations {for example trade debtors or trade118bllitles) are canled in the balance sheet at the cash amount or other consideration expected to be received or pald in their settlement. Pensions All slaff members recharged to charitable funds are on the payroll of the Whittington Health NHS Trust, which deduGts any pension contributions due. The gross cost including pension contributions is charggd to charitable funds. Rlsk Acceptable rlsk - A 'medium risk" approach is to be adopted in the management of the charity'5 investment assets. This is noted on the Trust Risk Register. Investment strategy The aim of the portfolio structure is to provide both long tenn growth in capital values and income to maintain those values in real terms. This is achieved through a balance between fixgd assets securities, UF< @quities and collective funds such as unit trust and investment Irusts. As th8r8 have been significant drawdowns over the years, it's been necessary to take a grddually lower risk profile with the remaining assets. The Trustee has made the following ethical provisions within th8ir instruGtioris to the investment managers such as no investment in tobacco (nor vaping) companies. no investment in businesses whose primary role is the manufacture of armaments and investments in alcohol producers and related companies should be kept in moderation. The trustee aims to maintain sufficient liquid cash resources available to meet six months, estimated payment commltments. Consolidatlon of Charity accounts with linked NHS body As charitable incame during the year is less than 1 % of the Trust's revenue (£1m compared to £350ml, the funds are not considered sufficiently material for consolidated accounts to be prepared. The position will be reviewed annually to confimi whether or notthe Charity's funds are material enough for consolidation to be appropriate. Financial instruments The Charity only has 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. Is
- Prior year comparatives by type of fund Paragraph 4.2 of the SORP states that FRS102 requires that comparative infomiation must be provided for all amounts in the Statement of Financial Activities (SOFA). The SORP requires that comparative information for the lotal funds of a charity must be provided on the face of the SOFA and comparative infomiation for each class of funds can be provided either on the face of the SOFA or in a note to the accounts. The primary statements provide prior year comparatives in total. this note provides prior period comparatives for the SOFA and the Balan Sheet for each of the three types of funds that Whittington Charity manages. Note 2 - 2023124 Unrestricted Restricted Endowme Funds nt (£000 2023124 Total i£ooo) 2022123 Total i£ooo) (£000) (£000) Income and endowments from: Donations Grant Income Legacies Other trading activities Investments 165 31 18 22 16 255 181 286 18 22 313 41 22 24 29 15 29 44 Total Income 251 300 551 429 Expenditure on - Raising funds Charitable activities Governan costs {187) (122) (39) (11) {409) (198) (531) (39) (122) (255) (40) Total expenditure 1348) (420) (768) (417) Net Income l (Expenditure) (97) (120) (217) 87 12 Gains l (Losses) 87 (97) Net movement in funds 10 120 130 85 Reconciliation of Funds Funds brought fOard 2022123 343 1724 18 2.085 2,170 Transfer beeen funds 27 (27) Total funds carried forward 2023124 360 1,577 18 1.955 2,085 16
Note 2 - 2022123 prior year comparative Unrestricted Restrlcted Endowment Funds Funds Funds (£000 {£ooo) (£000) 2022123 Total {£ooo) 2021122 Income & endowments from Donations Grant Income Legacies Other Trading Activities Investments 98 41 22 24 19 215 313 41 22 24 29 285 152 30 10 26 Totsl Income 204 225 429 493 Expenditure on Raising Funds Charitable Activities Governance Costs (37) (145) (31) {85) (108) (9) (122) (255) (40) (58) 1940) (35) (2) Total Expenditure (213) 1202) {2 (417} {1,033) Net Incomel Ex enditure 23 12 540 Gains l (Losses) (97) (97) 21 Net Movement In Funds (9) 74 85 (519 Reconciliation of Funds Funds brought forward 2021122 352 1,798 20 2,170 2,689 Total Funds carrled forward 2022123 343 1,724 18 2,085 2.170 Gifts in Klnd Donatlons and Services Gifts-in-kind is used to describe contributed non-financial assets or services to the Charity that are either tangible goods or services. and not money. SORP FR5102 chapter 6.. 'Income from donations that are Gifts in Kind ore recognised when there 15 evidence of entitlement to the gift, receipt is probable, ond its foir volue morket omount con be meosured reliably., The Charity ha5 considered the services and donations received as gifts in kind this year to be material for the first time this year and the cost involved in accounting for them is therefore justified by the benefits to the users of the accounts in terms of their better understanding the resources available. For 2023124, the Charity discloses Gifts in Kind income and expenditure of £54k for 2023124 within its reported Income and Expenditure reported totals. This is a direct result of major refurbishment projects commencing during 2023/24 and benefitting from pro-bono gifts. 17
Related party transactions The corporats Trustee consisted of gither employ8es of the Whittington Health NHS Trust or non*x6CUtivg directors of Whittington Health NHS Trust. During the year none of the employees or non-executive directors acting as Corporats Trustees or members of the key management staff or parties related to them has undertaken transactions with Whittington Hospital NHS Trust Charitable Funds. 4. Income from donations and legacies Donations from indÉvidu8ls are gifts from members of the public, relatives of patients and staff. Unrestricted Restrlcted Funds Funds (£000) (£000) Total 2024 {£ooo} Total 2023 (£oooi Corporate & personal donations Legacies Grants 165 18 31 16 181 18 286 313 23 41 255 Total 214 271 485 377 5. Analysls of income from other trading activities Paragraph 4.42 of the SORP requires that the notes to the accounts provide an analysis of the material components of income included within each analysis heading of the Statement of Financial Activities (SOFA). Unrestrlcted Restricted Funds Funds (£000) (£aoo) Total 2024 {£ooo) Total 2023 (£000) Merchandising Total 22 23 23 22 22 23 6. Role of volunteers Like all charities, Whittington Charity is reliant on a team of volunteersforoursmooth running. Our volunteers provide two key roles, Fund advisors and Fund Raisers. These volunteers provide a valuable seNice for us by promoting the Charity and infoming the public of the work we do to enhance the services that the Trust provides. 18
- Gross investment income Unrestrlctod Funds R05trlcted Endowment 2023124 Total i£ooo) 2022123 Total (£000) {£ooo) {£ooo) i£ooo Fixed Asset Equlty Cash Deposlt 14 27 41 29 Total 15 29 44 29
- Analysis of expenditure on raising funds 2023124 (£000 2022123 {£ooo} Fundraising office Fundraising events 159 40 122 Total 198 122
- Analysis of charitsble and governance expenditure The Charity did not undertake any direct Gharitab1e activities on its own account durlng the year. All of the charitable expenditure was in theform of grantfunding. The expenditure b8low Includes governance costs in the 2023-24 year of £39k, these costs were £5k in 2022-23. Gifts in Kind expenditure totalled £54k in 2023124. 2023124 (£000) 2022123 i£ooo) Patients Equipment Staff (training. research and other) Support staff costs Consultancy Statutory independent examination fees Gifts in Kind 405 62 71 118 41 72 28 54 Total 570 295 10.Analy5is of grants The Charity did not make any grants to individuals for 2023124 or 2022123.
- Movement In funding commitments As of 31 March 2024, there was an increase in funding commitments of £6k from £152k in 2022123 to £158k in 2023124. 19
12.Allocation of support costs and overheads Support and overhead costs are allocated between fundralslng activities, charitable activities and governanc8 costs. Fundraising costs are those support costs that relate to the strategic and day to day management of a charity. All salary costs are apportioned by role definition, Unrestrlcted Restrlcfed Funds Funds (£000) (£000) Total 2024 (£ooo} Total 2023 (£000) Charitsble Activities Raising funds Govemance Costs 32 162 33 32 162 33 122 40 Totsl 227 227 162 Average head count for the Charlty for 2023124 is 5. For 2022123 it was also 5. 13.TruBtees' remuneration, beneflts and expense5 The trustse of th8 Charity is Whittington Health NHS Trust. The Charity's trustee members are not employed by the Charity, and give of their time freely. Whilst they receive no remuneratlon for their work as Charity trustee members, they can claim expenses to reimburse them for ne$Sary costs Incurred in fulfilling this duties. No expenses were relmbursed to Trustees in 202312412022123 NII}. 14.Analysis of staff costs and remuneration of key management personnel Th8 Whittington Charity does not employ any staff directly. There are five contracted employees of Whittington Health NHS Trust who provide day to day management and administration s8Nices for the Charity. Their salaries are paid by Whittington Health NHS Trust and are charged to the Charity on a pro-rata basis, depending upon their time spent involved with Charity duties. The total staff costs recharged to the Charity for 2023124 were £227k, (2022123 £267k). 15. Independent examiner's fees The independent examinerfs fee of £3k for 2023124 (2022123.. £3k} related solely to the review with no additional work being undertaken. 20
- Fixed asset investments All investments are carried at fair value. The significance of financial instruments to the ongoing financial sustainability of Whittington Charity is considered in the rtsk analysis section of the trustees. annual report. 2023124 (£000) 2022123 {£ooo} Fixed asset investments UK equities Overseas equities Bonds and fixed interest Property Other (including cash held by managers) CCLA Collective Investment Vehicles (Pooled Funds) Total Listed investments 309 352 222 30 116 1.108 1,108 1,029 Cash on interest bearing deposit Total 1,108 1,029 Asset Allocation held with CCLA Asset Class Breakdown Allocation (%) Equty Infrastructure & operating Assets Fixed Interest Propety Private Equity & Other Cash & Near Cash Contractual & Other Income Derivatives OTAL 71.48 9.13 8.03 4.59 3.33 2.18 1.24 0.02 100.0 Reconciliation of fixed asset investments Bfvid Balance at 0110412023 Transfers Net Gains I {Losses) Cfwd Balance at 3110312024 UK Equities Overseas Equities Bonds and fixed interest Propety Other (incl cashl CCLA Collective Investments Vehicles (Pooled Funds) 309 352 222 30 116 {309) {352) (222) (30) {116) 1029 79 1,108 Listed investments 1,029 79 Cash on interest bearing deposit Total 1,029 79 1,108 The main risk from financial instruments lies in the combination of unrtain investment markets and volatility in yield. 21
WhlttlngtDn Charity manages these inve8trnent risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification within Investment asset classes. In October 2023. the Charity agreed to transfer its portfolio of funds from InvestgG to CCLA, into a pooled UK Ethical Fund. 17. Analysis of current debtors 2023124 (£000) 2022123 (£oooi Debtors undèr 1 year Trade debtors Total 18.Analysls of cash and cash equivalents 2023124 {£ooo} 2022123 (£000) Cash in hand 1,034 1,678 Total cash and cash equlvalents 1,034 The noti deposlts are sums held on interest bearing deposit with any bank and represent restricted appeals to fund specific equipment or funds to facilitate cash-flow. The funds are held on a 90-day notice account and therefore classified as liquid and therefore cash and cash equivalent. No cash or cash 8quivalent were held in non-cash investments or outside of th8 UK. All of the amounts h8ld on interest bearing deposit are available to spend on charitable activities. 19.Analysls of Ilabllitles 2023124 (£ooo} 2022123 (£000) Credltors under 1 year Charitable activities Recharges for staff salaries Def8tT8d Income Independent Examinatlon Fee5 170 20 156 478 Total 198 637 Whittington Charity does not have any creditors greater than 1 year 2023-24. (2022123: Nil) 20.Transfer between funds There has b6en a £27k transfer between funds during 2023124. This was to reverse out an opening balance difference from 2022-23 on the Balance Sheet. (2022123: Nil) 22
- Analysis of charitable funds (a) Analysis of fund movements for 2023124 Blfwd 2022123 Transfers between funds Income Expenditure Gain I (Loss) Clfwd 2023124 £0 £0 £0 £0 £0 £0 Fund type Restricted Unrestricted 1.724 343 18 300 251 -420 -348 -27 27 1.577 360 87 Endowment Total 2,085 551 -768 87 1.955 (b) Analysis of fund movements for 2022123 Bld 2021122 Transfers between funds Income Expenditure Gain I (Loss} Clfvid 2022123 £0 £0 £0 £0 £0 £0 Fund type Restricted 1.798 225 -202 -97 1.724 Unrestricted 352 204 -213 343 Endowment 20 18 Total 2,170 429 417 -97 2,085 23
The trustees set an opening or closing balance of £100,000 or above as the threshold for the separate reporting of material designated (earmar*ed) funds. In the interest of accountabillty and transparency a complete breakdown of all such funds is available upon written request. There are three funds with balances classed as material and these are includ8d in the following table. Material Fund Name BalanG8 at 3110312024 £000 Purpose The Kanitz Be uest Andre Kanitz Bequest G8neral Restricted Funds- Reval 2 511 109 441 Earmarked for Trusts ITU unit - Restrlcted Eanmarked for Cancer Research These funds are ring-fenced, and ear marf(ed for allocation across fLJnds- Unrestricted 22. Reserves Polic The Trustee believes that the majority of donations to Whrttington Health Charity are giv8n on the understanding that the income will be spent in a timely and responsible manner and reserves should therefore be kept to th8 minimum possible. Reserves are required to.. cover salary costs for all substantive posts forthe minimum notip£ period stated in the relevant contracts of employment., cover administration costs for a period of six months., cover audit fees for six months., over planned (committed) expenditure for a minimum period of three months to allow ongoing projects to be complat8d. Based on the above. the maximum desired reserves of the Charity is equivalent to six months of operating costs, based on current financial forecasts, honouring of existing financial commitments andlorthe length of time it would take to recover income levels. This gives us a suggested target reseNes level of £250,000. The Trustee shall review any balances held in eXsS of the target resaNes level and consider longer term investments where funds cannot reasonably be spent in the short term. Advice wlll be sought priorto any such long-temi investment. Our Resetves Policy sets the framework within which tho Trustee will fulfil its responsibilities. The Charity's current levels of unrestricted reserves are considerably higher than the target level due to a recent project, delivered with the support of Charity lawyers and the Charity Commission, to de-restrict dozens of historic charitable funds. The Charity has also, for the first time, implemented a grant-making strategy, settlng out specific spending tsrgets in particular areas. such as state of the art equipment, addressing health inequalities and environmental improvements. This includes a commitment to fund rnore than £800,000 of charitsble projects over a two-year period. In summary, the Charity's reserves will reduce considerably over thg coming months. 24