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2024-03-31-accounts

LEICESTER HOSPITALS CHARITY TRUSTEE'S

ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2024

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Table of Contents

Foreword by the Chairman of University Hospitals of Leicester NHS Trust ............ 3
Who we are ...................................................................................................... 5
Our Mission ...................................................................................................... 5
What we have achieved: highlights from the activities undertaken in 2023/24 ....... 6
Case Study #1: High-quality care for all
Morcellator helps to transform prostate
surgery ............................................................................................................ 7
Case Study #2: High Quality Care for All - New Rehabilitation Garden at Leicester
Royal Infirmary ................................................................................................. 7
Case Study #3: A Great place to work - Enhancing Staff Wellbeing through
Compassion Fatigue Training and Silver Cloud ................................................... 8
Case Study #4: Partnership for Impact - One-Stop Head and Neck Cancer
Clinic.............................................................................................................. 9
Case Study #5: PartnershipforImpact - Robotic Assisted Surgery for Head and
Neck Cancer Patients -
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Case Study #6: Research and education excellence - Investigating Patient
Adherence to Sling Use Post-Shoulder Surgery ................................................. 11
How we funded our work, our achievements and performance.................... 12
What we plan to do with your donations: our future......................................... 17
How we manage the money............................................................................. 18
Our Reserves policy ........................................................................................ 19
How we organise our affairs: reference and administration details ............ 22
Trustee's responsibilities statement ........................................................ 28

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Foreword by the Chairman of University Hospitals of Leicester NHS Trust

I am honored, as the new Chairman of University Hospitals Leicester NHS Trust, to present the Leicester Hospitals Charity Annual Report for the year ending 31st March 2024.

Leicester Hospitals Charity, the official charity of the University Hospitals of Leicester NHS Trust (UHL), operates with UHL acting as Corporate Trustee. Our charity exists to enhance the experiences of our patients, visitors, and staff by funding essential equipment, environmental improvements, research opportunities, and other resources that would not otherwise be available within our hospitals.

The Charity have had another year of fundraising success, with a total income of £2.4 million. I am pleased to report that a total of £3.6 million were invested back into charitable activities and projects that benefit patients and staff across UHL during 2023-2024.

Some key achievements over the past year include:

A selection of case studies has been included in this report to highlight the impact that charitable funds have had on improving patient care and supported UHL in working towards their four strategic goals.

The financial year 2023/24 marked a period of transition for the charity. In 2023, we saw a change in leadership, and we also commissioned an independent review of the charity, which concluded in July 2024. However, in the face of changes and challenges, the charity has continued to expand its supporter base and generate income from a diverse range of sources. I am confident that, with the insights from the review and the development of a new fundraising strategy for the future, Leicester Hospitals Charity

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is poised to enter a new phase of sustainable growth.

I would like to extend my heartfelt gratitude to our dedicated charity and UHL staff, volunteers, and the thousands of supporters whose generosity has been instrumental to our success this year. As we look ahead to 2024/25 and beyond, we remain committed to deepening our relationship with our communities and supporters, ensuring we continue to play an integral part in the University Hospitals Leicester NHS Trust overall vision of being leading in healthcare and trusted in communities.

Andrew Moore

Trust Chair

14[th] November 2024

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Who we are

Leicester Hospitals Charity (LHC, the Charity) is a registered charity (number 1056804). We exist to support patients, their carers, and the NHS staff who look after them in Leicester, Leicestershire, Rutland, and beyond.

We do this through targeted fundraising appeals and effective management of donations, to provide additional resources, assets and skills which are not available through NHS funding, and which link closely with the strategic aims of the University Hospitals of Leicester NHS Trust (UHL) and the broader strategic aims of NHS healthcare in the East Midlands.

UHL provides care to over 1,000,000 people each year from Leicester, Leicestershire and Rutland, and the wider East Midlands, and is our key partner in fulfilling our charitable aims.

We would like you to support us in our crucial work so please read on and let us tell you more about ourselves, what we do, what we have achieved, and how we go about spending the gifts given to us.

What we aim to do: our objectives and activities

Our Mission

By raising new money and careful management of our existing funds, Leicester Hospitals Charity provides a public benefit by "making grants for any charitable purpose relating to the University Hospitals of Leicester NHS Trust

Grants are made in accordance with charity law, our objects, and the wishes of donors. In making grants, we endeavor to fulfil the wishes of patients and staff by directing funds towards the areas they tell us are most in need.

During the year 2023/24, grants totaling £3.6m were made. When considering where to focus our attention our Corporate Trustee's board and particularly the members of the Charitable Funds Committee have regard to the Charity Commission's guidance on public benefit and what this means for LHC.

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What we have achieved: highlights from the activities undertaken in 2023/24

Our key aim is to serve the NHS and UHL for the public benefit. The Charity defines 'the public' as patients, their carers, and the NHS staff who look after them in Leicester, Leicestershire, Rutland, and beyond. We listen to those who need care, and those who give it. And using this insight, we fund research, services, and equipment to help UHL provide a level of care that goes beyond what state funding can provide.

projects closely with the overall vision of the trust.

We put this aim into practice by helping staff, patients, their families and carers, and visitors to the hospitals by:

All our activity is funded by our generous donors. From individuals in the community, local and national businesses and community groups all the way to philanthropic funding and legacy gifts, we would not be able to support UHL without their generosity and continued support.

-year strategy, centered around four key

goals:

We are pleased to present a selection of case studies aligned to each of these goals and that illustrates the impact that charitable funding has had within UHL this year.

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Case Study #1: High-quality care for all Morcellator helps to transform prostate surgery

An enlarged prostate (BPH) affects many men over 50, often causing severe discomfort and urinary issues. Traditional treatments can be invasive, but thanks to funding from Leicester Hospitals Charity, a cutting-edge morcellator device has transformed patient care.

David, a retired Sales Engineer from Lincolnshire, had suffered since 2014, relying on catheters and medication. After his surgery with the morcellator in January at Leicester General Hospital, his life dramatically improved. "No more catheter and finally being able to bend down without pain is just wonderful. Thank you to the

The morcellator offers significant benefits:

Consultant Urological Surgeon Masood Khan noted that surgery times have halved, reducing risks and improving recovery. This innovation, made possible by charity supporters, enables quicker surgeries, better outcomes, and a faster return to normal life for patients like David. The hospital is expanding staff training to ensure even more patients benefit from this life-changing equipment.

Case Study #2: High Quality Care for All - New Rehabilitation Garden at Leicester Royal Infirmary

Leicester Royal Infirmary (LRI) has unveiled a new rehabilitation garden for Intensive Care (IC) patients and their families, made possible by dedicated fundraising efforts. The garden, designed to promote mental health and well-being, offers a peaceful, accessible space that aids patient recovery.

The project was spearheaded by Zoe Bradley, Senior Sister in the IC unit, who

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worked closely with the Therapy Team to create a space that allows patients to take part in activities like crafting and decorating, helping them engage in their rehabilitation. The garden is also fully accessible, designed to accommodate wheelchairs and hospital beds.

Funding for the project came through the tireless efforts of families and friends of IC patients, raising over £43,000. Family and friends of Ellis White, a patient in the IC unit, played a crucial role. They organised multiple fundraising activities, including Tracey Edwards, spoke of the importance of the garden as a visible reminder of the community's fundraising efforts, and a special place to remember Ellis.

Andrew Corney, another key supporter, raised over £3,000 with his colleagues from PA Housing in memory of his wife, Laila. He reflected on the emotional significance of the garden, sharing that Laila would have loved the space.

Opened as part of the NHS's 75th birthday, the garden has already become a haven for patients and their families, with one long-term patient even upcycling a bird table for it. This project demonstrates the profound impact of community fundraising in enhancing patient care at LRI.

Case Study #3: A Great place to work - Enhancing Staff Wellbeing through Compassion Fatigue Training and Silver Cloud

With the support of the Leicester Hospital Charity, the Wellbeing at Work programme at University Hospitals Leicester (UHL) is making a real difference to the lives of over 17,000 staff members. The NHS Staff Survey highlighted the urgency of such initiatives, with 56% of respondents experiencing work-related stress and 70% feeling burnt out. The Wellbeing at Work programme directly addresses these issues, contributing to reduced sickness absence and improved patient care.

By funding activities such as badminton, football, cricket, exercise classes, and coach trips, the programme encourages physical fitness, social interaction, and better overall wellbeing. A bespoke Wellbeing programme also offers teams activities like mind coaching, mindfulness, and complementary therapies, improving team cohesion and performance.

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Addressing Compassion Fatigue

Thanks to charity funding, UHL offers specialised training to help staff recognise and manage compassion fatigue, a common challenge in healthcare. The training educates staff on the impact of compassion fatigue, risk factors, and symptoms while offering strategies to bolster emotional resilience through diet, exercise, sleep improvement, and mindfulness practices.

With 24 in-person sessions and 12 virtual updates, the programme supports 840 staff members, enhancing emotional resilience and reducing burnout.

An evaluation of the training found:

Silver Cloud Digital Support

Charity funding also supported Silver Cloud, a 24/7 digital mental health platform, offering staff therapeutic support. With 91% of users finding the platform helpful and 89% reporting better mental health, it is a crucial tool for managing stress and anxiety. Using the Generalised Anxiety Disorder Assessment (GAD-7), Silver Cloud effectively reduces anxiety levels among staff. One user noted, " Since engaging with the programmes, I feel more grounded at work and capable of focusing again. I was considering going off sick, but now I can relax more at home."

Through funding these initiatives, the Leicester Hospital Charity plays a vital role in enhancing staff wellbeing, reducing sickness absence, and improving patient care across UHL.

Case Study #4: Partnership for Impact - One-Stop Head and Neck Cancer Clinic

Leicester Hospitals Charity has made a big difference in supporting UHL cancer services with the early detection and treatment of cancer patients, thanks to support from Brown Dog Cancer Charity and generous fundraising efforts. This funding has helped purchase a new ultrasound scanner for the Head and Neck Cancer Unit at

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Leicester Royal Infirmary, highlighting the crucial role of community support in improving healthcare.

Ultrasound is a key tool in detecting neck lumps, often cancerous, and guiding biopsies. Its non-invasive, safe nature means quicker, more accurate diagnoses, significantly boosting patient outcomes.

The scanner will enable more One Stop Clinics for neck lumps, where patients can receive a diagnosis in a single visit, reducing anxiety and preventing delays in treatment. For those with benign conditions, it means they can be reassured and discharged immediately, freeing up resources for those who need further care.

In addition to its role in diagnosis, the scanner will support complex surgeries, including robotic-assisted procedures. It will help surgeons navigate challenging operations with greater precision, reducing risks and improving patient safety. This will be particularly valuable in head and neck surgeries, where accuracy is vital due to the delicate structures involved.

Brown Dog Cancer Charity, founded by cancer survivor Mark Storer, played a pivotal role in raising £47,000 for this scanner in partnership with LHC.

The new ultrasound scanner will benefit over 350 patients monthly, aiding early diagnosis in One Stop Clinics and supporting complex surgeries with greater funding for the new scanner, we can now detect cancer quicker, ensuring faster treatment or reassurance for patients with benign lumps."

Partnership working is vital in supporting initiatives that we know can benefit the community. Our work with charities like Brown Dog is an example of how we can make great things happen for UHL in partnership with local charities also working to find ways to make a difference to patients and give back for the care .

Case Study #5: Partnership for Impact - Robotic Assisted Surgery for Head and Neck Cancer Patients - Revolutionising Cancer

Thanks to a generous £1.5 million donation from the Samworth Foundation, Leicester Hospitals Charity has enabled the purchase of a Da Vinci Xi robot for robotic-assisted surgery (RAS), now available for head and neck cancer patients.

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This cutting-edge technology improves patient care across Leicester, Leicestershire, and Rutland, offering less invasive surgery, reducing recovery times, and saving lives.

Already in use for Urology and Gynaecology, the Da Vinci Xi robot allows surgeons to perform complex procedures with greater precision. For head and neck cancer patients the addition of a dedicated Da Vinci Xi robot for their surgical team means fewer complications, shorter hospital stays, and a reduced need for chemotherapy and radiotherapy in many cases.

surgery minimises trauma and significantly improves quality of life for patients with

One of the first patients, Paul Sheehan, avoided chemotherapy and radiotherapy after robotic surgery to remove his throat cancer in December 2023 robot, I would have faced six weeks of gruelling treatment. Instead, I was back at Paul and his family are so grateful for this new technology being available for him, that they have volunteered their time to support the Charity with sharing their story at engagement events to encourage other donors and emphasise the impact by meeting the donors at the opening of the new robotic theatre.

Case Study #6: Research and education excellence - Investigating Patient Adherence to Sling Use Post-Shoulder Surgery

Dr. Barakat, an orthopaedic trainee, identified a gap in post-operative care following shoulder surgery, particularly in the inconsistent use of slings. While surgical techniques have advanced, guidance on sling duration remains unclear, with conflicting advice ranging from immediate movement to six weeks of immobilisation.

With support from Leicester Hospitals Charity, Dr. Barakat launched a pioneering study to investigate patient adherence to sling protocols using innovative sensors embedded in slings. These sensors track temperature and movement, providing real-time data on sling usage.

In an initial feasibility study, sensors were placed in slings worn by 10 volunteers. The results, with over 15,000 data points collected, showed 99% accuracy in tracking sling use. This breakthrough led to the study being awarded "Best Study within the Region" in 2023 and presented at the British Orthopaedic Association congress. The findings were published in a peer-reviewed journal and made available for open access.

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The project has now progressed to clinical trials with 38 patients, aiming to determine how adherence to sling use impacts recovery after surgery. The research could shape future guidelines for post-operative care.

Leicester Hospitals Charity's £2,500 grant was crucial in funding the sensors for the feasibility study, which has since laid the groundwork for further research. The potential long-term impact of this work could lead to improved outcomes for shoulder surgery patients across the UK and beyond.

Furthermore, Dr. Barakat and his team are seeking additional funding to expand the study to a PhD level, involving multi-regional participation and collaboration within further education. This expansion aims to increase the study's scale, improve the accuracy of results, and ultimately contribute to a revision of clinical guidelines on post-operative sling use.

How we funded our work, our achievements and performance

The following figures are taken from the full accounts approved on 14[th] November 2024 which carry an unqualified audit report. If more details are required, please refer to the full accounts. This is part of the Trustee's annual report comments on key features of those accounts. In this section we explain how we raised the money and then how we spent it.

Money received £2.4m- Money spent £4.5m

LHC can only continue to support the work of UHL for as long as we receive the money needed. Majority our income comes from the voluntary efforts of the public. Overall, we have received in year £2.2m in donations and fundraising income plus £0.2m of investment performance.

Money received: sources of income

The pie chart shows our main sources of income. Our largest source of income this year was from gifts from the public, either direct or through corporate giving. The second largest was legacies.

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General Donations (£201k). The largest source of donations by volume come from general donations from members of the public. These vary in amount from 50p to £500 or more. Often, these donations are not for any specified appeal or cause and go towards general funds.

Events and Challenges (£78k). Hosting fundraising events forms an important part of how we raise money for specific appeals as well as increase the profile of the Charity.

Community (£417k). There are many local community groups and fundraisers who make generous gifts to the Charity to show their support for Leicester's Hospitals. These groups either wish to help us with appeals or projects, or they can give generally to our hospitals to go to where the funds are needed most.

Legacies I Gifts in Memory (£724k). Many donations we receive are made by people in memory of loved ones who have died, or through legacies left to us in the Wills of people who want to improve hospitals for their community. We are deeply grateful to all those who choose to leave a gift in their Will to our Charity and for the many donations we have received from people to honour the memories of those close to them.

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Corporate donations (£169k). We are fortunate as a Charity to have the support of businesses and private organisations who recognise the important difference we make to our hospitals and donate money, resources, or time to our Charity to help give something back to their local community.

Grants & Trusts (£302k). Every year, we are grateful to receive numerous grants from charitable trusts and other grant-making organisations who wish to support us in our work to help improve Leicester's Hospitals. These grants may contribute to larger projects or appeals, or they may allow us to purchase entire pieces of equipment outright.

Major gifts (£34k). Major gifts can have the greatest impacts on our hospitals by providing large, dedicated amounts of funding that can help to transform a project or service. This is an area for greater development and growth for the Charity in 2024/25.

Lottery (£241k). UHLotto is a staff lottery that offers colleagues a chance to support the Charity's work financially as well as giving them the opportunity to win fantastic prizes. Over 3,000 members of Leicester's Hospital staff regularly participate, with numbers increasing in the run up to special lottery draws.

Money spent: what we spent the money on

As the pie chart below shows, the largest of our spend was on charitable activities in the form of grants.

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Our charitable work was made up of the following areas:

Grants to provide benefits to patients

The Charity spent £306k (2022-23: £576k) on grants to provide benefits to patients, including £91k on grants to support community projects funded through Stage 3 Community Project grants through NHS Charities Together, £59k to furnish patient areas, £18k to purchase medical and dental equipment, and £13k to purchase other equipment.

Grants to provide benefits to staff

The Charity spent £351k (2022-23: £215k) on grants to provide benefits to the Trust by investing in staff, including £66k on educational and training support, £44k on wellbeing activities and £41k on furnishing improvements to staff areas.

Capital projects for donation to the NHS Trust

The Charity spent £2,922k (2022-23: £1,262k) on grants to provide benefits to patients and staff through capital expenditure, including £218k on construction works, £2,461k on medical and dental equipment and £98k on other equipment.

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Grants awarded for research projects and patient outcome projects

The Charity spent £33k (2022-23: £115k) on grants to support research-related activities, including £17k on funding posts and £12k on research expenses and consumables.

The cost of grants includes a proportion of support costs.

Performance against objectives

Spending the money is only part of the story, we are always looking to achieve good value for money. To ensure the money is well spent, applications for grants include questions about the objectives, impact, success criteria, evaluation and continuity plans for the proposed project. The Charity requests reports on all grants awarded over £5,000 and a sample of smaller grants to establish the extent to which the intended benefits have been realised.

We ask the applicants what the outcome of the grant was both in terms of what they spent the money on and what difference it made to the medical care and treatment of our patients.

This information informs future grant making policy as well as providing a basis for assessing our performance. The impact reports also help provide content , which helps raise the profile of the Charity.

Our Fundraising Practices

Members of the Charity fundraising team organise fundraising events and coordinate the activities of our supporters both in the hospitals and in the wider community on behalf of Leicester Hospitals Charity. We do not use external professional fundraisers or involve commercial participators.

The Fundraising Regulator publishes the Code of Fundraising Practice that sets the standards that apply to fundraising carried out by all charities and third-party fundraisers in the UK. The Fundraising Regulator is the independent regulator of charitable fundraising in England, Wales and Northern Ireland. The fundraising department has signed up to the Fundraising Regulator's Code of Fundraising Practice. The Charity has received no complaints about its activities this year.

All direct marketing is reviewed by the Charity to ensure that it is not unreasonably intrusive or persistent. All marketing material contains clear

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instructions on how a person can be removed from mailing lists as well as information on our privacy policy. All marketing activity and our data handling is carried out in line with the Trust's GDPR policy.

Our fundraising performance:

During the year the total donations, legacies and income from fundraising came to £2.2m against a plan of £3.6m. We benchmark our fundraising activity with our peers through the Association of NHS Charities and monitor the comparative success of campaigns and overall fundraising cost to income ratios. We continued to perform well with an average cost to income ratio compared to the average of similar size NHS Charities. By working to raise our fundraising profile further and rewriting our fundraising strategy taking onboard the findings and recommendations from the recent review, we are confident that we will continue to increase the annual income raised year on year.

What we plan to do with your donations: our future

We are working to write a new short, medium and long terms strategy for the Charity following the independent review carried out in 2024.

We will continue to work closely with UHL to explore how we can support its future reconfiguration priorities, notably the new Children's Hospital, transformation of the Leicester General Hospital site, the new Women's Hospital, and the ITU expansion at Glenfield Hospital. To communities, we will actively seek to assist in equipping NHS staff with the training, skills, equipment they need and provide financial support to our research partners in their important work.

The Covid-19 Pandemic and the cost of living crisis, has impacted all areas of our operations. We have recast our future objectives based on current donor trends, the findings from the review and ensuring we are able to grow in alignment with the evolving needs of UHL.

Over the next two years, we plan to:

  1. Grow our income by developing robust Individual Giving campaigns rooted in evidence and experience of the Regular Giving, In Memory, and Legacy sector.

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  1. Expand outreach to groups/schools/community fundraisers and improve our stewardship processes for these groups.

  2. Grow online presence and digital marketing through innovative and costeffective PR/Comms activity.

  3. Further invest in developing our Major Giving strategy and activities

  4. Grow our corporate fundraising income through innovative new programmes aimed at Leicester's business community, focusing on securing multi-year partnerships.

  5. Increase the operational capacity, experience and processes of the fundraising office.

  6. Increasing visibility of the Charity across the UHL estate.

  7. Invest in our diverse and professional team, upskilling them as needed to take on new challenges.

  8. Refresh and rewrite our governance processes.

  9. Launch and deliver a new fundraising strategy.

These objectives will be presented for approval by the Corporate Trustee at the end of FY 2024 and the tactics to achieve them will be accounted for in the budget setting for the next two years.

How we manage the money

Our grant making policy

Leicester Hospitals Charity makes grants from both its unrestricted and restricted funds. Within the unrestricted funds, grants are made from both the general-purpose funds and the designated (earmarked) funds. Currently grant requests are considered on a rolling basis at Charitable Fund Committee meetings held every two months. Based on their knowledge of the hospitals, the Committee agree funding priorities and review the applications for quality and value for money and how they match the objectives of the Charity.

Designated (earmarked) funds are established for a particular part of the hospital or activity nominated for support by the donor. They are overseen by fund advisors who can make recommendations on how to spend the money within the designated area.

Grants are awarded through the scheme of delegation, and authorisation is dependent on the fund's purpose and the value of the application. The grant

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application process ensures that individual funds are not able to commit expenditure in the absence of available funds.

Grant applications are subject to robust review and challenge before they are approved, including a review as to whether the expenditure is for the public benefit and cannot be met through core NHS funds.

Where expenditure relates to the purchase of medical equipment there is an expectation that the NHS Trust Medical Equipment Panel approves these before any application is submitted for consideration. This ensures that there remains consistency between the capital expenditure plans of the NHS Trust and the Charity in terms of capital planning, and compatibility with existing resources.

Our Reserves policy

The Charity has an overall plan to provide long-term support to the Trust. The Corporate Trustee has held the view that income donated to the Charity should be expended in a timely way in accordance with the wishes of the donors. This does not prevent any individual fund balances from being built up to purchase larger items in the future.

The Charitable Funds Committee has established a reserves policy as part of its plans to provide long term support to Leicester Hospitals Charity. The Charitable Funds Committee calculate the reserves as that part of the Charity's unrestricted income funds that is freely available after taking account of designated funds that have been earmarked for specific projects.

----- Start of picture text -----
Breakdown of Reserves £000
Total Funds 7,980
Less restricted funds - 2,071
less committed funds - 1,981
Freely available reserves 3,928
----- End of picture text -----

Considering the level of income and expenditure over the last five years it would be prudent to maintain freely available reserves of at least £2m to ensure that the Charity has sufficient funds to cover its immediate commitments, plus sufficient funds to cover any likely annual deficit.

The Charitable Funds Committee expects that designated funds will be spent within 12 months. It therefore regularly reviews the balances held in designated funds

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against this benchmark unless it has been agreed otherwise. Where the fund has been inactive for two years, the Charitable Funds Committee will determine whether the fund is likely to be committed in the near future, or where it is decided that the designation is no longer necessary, the funds are closed and transferred to the general purposes fund.

Our financial health: a strong balance sheet

The assets and liabilities of the Charity as of 31 March 2024 are stated below, compared with the position on 31 March 2023.

----- Start of picture text -----
Total Funds Total Funds
2023-24 2022-23
£000 £000
Fixed Asset Investments 5,347 4,964
Net Current Assets 2,633 4,758
Total Net Assets 7,980 9,722
Funds of the Charity
Restricted Funds 2,071 3,679
Unrestricted Funds 5,909 6,043
Total Funds of the Charity 7,980 9,722
----- End of picture text -----

Useful definitions:

Fixed Asset Investments are investments in quoted stocks and shares. Net Current Assets represent cash held on deposit plus debtors less the value of outstanding liabilities.

Restricted Funds represents money which is held by the Trustee which can only legally be used for specified purposes.

Unrestricted Funds are funds available to be spent within the objects of the Charity which can legally be spent wholly in accordance with the discretion of the Trustee.

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departments and specialties. By designating funds, the Committee ensures that those gifts are channeled towards charitable purposes in those areas. These funds are supervised by about two hundred fund advisors from the wards, departments and specialties concerned.

The General Purposes fund represents those funds available for distribution by the Trustee which have not been restricted or earmarked.

About our investments

Investments of LHC are managed by Brewin Dolphin Investment Management with the objective to maximise the income receivable whilst allowing a degree of capital growth. The portfolio is structured to permit a range of investments intended to yield a competitive rate of return in difficult market conditions and part of the portfolio is invested in hedge funds. In addition, the Charitable Funds Committee has decided not to directly invest in tobacco securities because of the proven link between smoking and poor health which would make such investments contrary to our charitable aims.

Appeal funds and funds intended to be used to pay grants in the near future are held on deposit to minimise investment risk.

Investment performance is monitored by the Charitable Funds Committee by reviewing regular reports from the investment managers. During the year dividends and interest received was £216k and the value of realised and unrealised gains within the portfolio was £393k. We expect that the financial performance in 2024/25 will be affected by the cost-of- living crisis, and through the vacancies in the fundraising team.

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How we organise our affairs: reference and administration details

Leicester Hospitals Charity is registered under the Registered Number 1056804.

How to contact us

The Charity office and principal address is: Belgrave House Gwendolen Road Leicester General Hospital LE5 4PW Tel: 0116 258 8709

For Fundraising queries please contact: Charities Director Belgrave House Gwendolen Road Leicester General Hospital LE5 4PW Tel: 0116 258 8709

The Corporate Trustee, UHL's principal address is: The Chief Executive University Hospitals of Leicester NHS Trust Trust Headquarters Level 3, Balmoral Building Leicester Royal Infirmary Infirmary Square Leicester LE1 5WW

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Trustee Arrangements

The University Hospitals of Leicester NHS Trust is the sole Corporate Trustee of the Charity. The Corporate Trustee's responsibilities are therefore carried out by UHL's Trust Board. The Board is appointed in accordance with the Trust's constitution. Details of the UHL Board membership can be found in its annual report and accounts and on its website.

As LHC has a Corporate Trustee it is, in accounting terms, controlled by UHL and is therefore its subsidiary.

The UHL Board meets annually as Corporate Trustee to:

The Board of directors of UHL delegate responsibility for the day to day management of the LHC to the Charitable Funds Committee and the Director of Charity in accordance with the scheme of delegation and standing financial instructions. Together, they are responsible for fulfilling the Corporate Trustee's strategic plan and for working with the professional advisors and with the representatives of UHL who provide the financial services to the Charity.

The Charitable Funds Committee comprises two executive members of the Board and two non-executive members. Other members of UHL staff are invited to attend Committee meetings but do not have a vote at those meetings. During the year, the committee members were:

Professor T Robinson Non-Executive Director Trust Chair Mr J Macdonald Trust Chairman Ms J Hogg Chief Nurse Ms V Bailey Non-Executive Director

Members of the charitable funds committee are selected to give the Charity a good mix of appropriate professional skills-for example medical, finance, investment and fundraising.

All members of the CFC are provided with the Charity Commissions' guidance: public benefit: an overview and the essential trustee: what you need to know (CC3) and a summary of what this means for a Corporate Trustee.

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Our Staff and advisors

The Charity currently employs eighteen staff as at the 31[st] March 2024. The Charitable Funds Committee is also assisted by several professional advisors, as detailed below:

External Auditors

Cooper Parry Group Limited Office 401 Two Chamberlain Square Birmingham B3 3AX

Solicitors

Eversheds 1 Royal Standard Place Nottingham NG1 6FZ

Bankers

The Royal Bank of Scotland East Midlands Corporate Banking PO Box 7895, 5th Floor Cumberland Place Nottingham NG1 7ZS

Investment Managers

Brewin Dolphin Waterfront House 35 Station Street Nottingham NG2 3DQ

Key management personnel remuneration

The Board of the Corporate Trustee and the Director of Charity comprise the key management personnel of the Charity as they are in charge of:

Directing and controlling the Charity Running and operating the Charity on a day-to-day basis

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UHL's board members are either executive members who are employees of UHL or non- executive members who are remunerated in accordance with the UHLs constitution. None of the board members are specifically paid in relation to LHC, they give of their time freely.

Members of UHL board are required to disclose all relevant interests and register them with the Charity Director and withdraw from decisions where a conflict of interest arises.

All related party transactions are disclosed in note 4 to the accounts.

The Director of Charity is employed by UHL on NHS terms and conditions. Their remuneration is reviewed annually and is increased in accordance with the nationally agreed increases for their pay scale. LHC is fully recharged by UHL for the employment costs relating to the Director of Charity and Charity team. Risk Analysis

As part of the business planning exercise carried out during the year, the Director of Charity has considered the major risks to which LHC is exposed and cited the Charitable Funds Committee to them. She has reviewed systems and identified steps to mitigate those risks. Two major risks have been identified and arrangements have been put in place to mitigate those risks.

Future levels of income

LHC is reliant on donations to allow it to make grants to UHL. If income falls, then the Charity would not be able to make as many grants or enter longerterm commitments with UHL. The committee mitigates the risk that income will fall by engaging with the Fundraising Team. That team comprises dedicated fundraising experts who work with UHL to provide a coordinated approach to raising funds. Fundraising activity is regularly benchmarked against our peers and thorough reviews are undertaken after major campaigns and events to understand what worked well and how things could be done better. The public's support of the NHS has been demonstrated through increased donations during the Covid-19 Pandemic.

The NHS remains challenged post pandemic, meaning that waiting times for treatment are getting longer. There is a risk that the goodwill shown for the NHS at the start of the pandemic is starting to wane which will make fundraising more difficult.

Throughout 2023/24, inflation and the cost of living has increased. This is having an impact on the amount that people can donate to charity.

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Fall in investment returns

The Charity has established an investment strategy to mitigate this risk, which requires an investment portfolio which balances risk and return and includes investments that can be converted to meet short term cash requirements. The Charity generates additional income from investing its cash balances, so the committee considers the loss of investment income to be a major financial risk. The risk is mitigated by retaining expert investment managers, having a diversified investment portfolio and regularly reviewing that portfolio. The committee makes use of benchmarking information when reviewing the portfolio.

Financial reports are presented to the Charitable Funds Committee and any significant trends and risks are highlighted in the commentaries supporting the reports. Other low priority operational risks relate to the grant application process and the financial system risks around the receiving of donations, ordering of goods and services and payment of invoices.

Appropriate controls and systems have been established to mitigate these risks, including the Charity adopting UHLs standing orders and standing financial instructions. Assurances are obtained from internal audit that these controls are operating effectively.

Wider networks

LHC is one of over 250 NHS linked charities in England and Wales through NHS Charities Together. We regularly discuss with other NHS charities matters of common concern and exchange information and experiences. LHC also engages with other networks for support, such as the Chartered Institute of Fundraising and the East Midlands Chamber of Commerce.

Related parties

UHL is the Corporate Trust of LHC and is therefore a related party. The University of Leicester is our main research partner. Although the Committee is careful to consult with representatives of these organisations formally through their committee meetings and via other, less formal contacts, they retain their independence to act in the best interests of LHC and the Charity's beneficiaries.

Our relationship with the wider community

The ability of LHC to continue its vital support for UHL is dependent on its ability to maintain and increase donations from the general public. First and foremost, we value the relationships we have with our donors, supporters and communities who

26

are instrumental in helping us shape and improve our hospitals. LHC also continues to forge strong relationships with members of staff of the hospitals without whose co-operation the ability to make an effective contribution would be much diminished.

Volunteers

On behalf of the trustee body, the Charitable Funds Committee would like to pay tribute to:

The members of staff who give of their time out of hours in support of the work of LHC in working with us to identify how we can help them care for the patients.

Our fundraisers who do so much to encourage others to enrich lives through donations and fundraising activities.

Signed on behalf of the Trustee:

Professor Thompson Robinson (Chair of the Charitable Funds Committee)

14[th] November 2024

27

Trustee's responsibilities statement

The trustee is 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}.

The law applicable to charities in England & Wales requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee is required to:

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enables it to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. The trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee is responsible for the maintenance and integrity of the charity 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:

Professor Thompson Robinson (Chair of the Charitable Funds Committee) 14[th] November 2024

28

CHARITY

Opinion

ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. 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).

In our opinion the financial statements:

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 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

basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report.

Other information

The Trustee is responsible for the other information. The other information comprises the information included in the Trustee’s Annual Report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

29

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of the Trustee

the preparation of financial statements which give a true and fair view, and for such internal control as the Trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intends to liquidate the Charity or to cease operations, or has no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a 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.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Our assessment focussed on key laws and regulations the Chairty has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Charities Act 2011, Charities (Accounts

30

and Reports) Regulations 2008, Charities (Protection and Social Investment) Act 2016, taxation legislation, data protection, anti-bribery and employment legislation.

We are not responsible for preventing irregularities. Our approach to detecting irregularities included, but was not limited to, the following:

Whilst considering how our audit work addressed the detection of irregularities, we also considered the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description

Use of our report

Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity’s Trustee those matters which we ar e required to state to it 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 Trustee as a body, for our audit work, for this report, or for the opinions we have formed.

Cooper Parry Group Limited

Two Chamberlain Square Birmingham B3 3AX Date: 17 January 2025

Cooper Parry Group Limited is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006.

31

Leicester Hospitals Charity Statement of Financial Activities for the year ending 31 March 2024

Unrestricted
Restricted
Total
Total
Funds
Funds
Funds 23-24
Funds 22-23
Note
£000
£000
£000
£000
Income from
Donations and legacies
5.3
1,692
235
1,927
5,116
Other trading activities
5.2
1
240
241
235
Investments
8.3
149
67
216
162		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds 23-24
Funds 22-23
Note
£000
£000
£000
£000
Income from
Donations and legacies
5.3
1,692
235
1,927
5,116
Other trading activities
5.2
1
240
241
235
Investments
8.3
149
67
216
162
Total Income 1,842
542
2,384
5,513
Expenditure on
Raising funds
6.1
557
350
907
918
Charitable activities
6.2
1,664
1948
3,612
2,168
Total expenditure 2,221
2,298
4,519
3,086
(Losses)/gains on investment assets
8.1
295
98
393
(398)
Net income/(expenditure)
(84)
(1,658)
(1,742)
2,029
Gross transfers between funds in year
11.2
(50)
50
-
-
Net incoming/(outgoing) resources
(134)
(1,608)
(1,742)
2,029
Reconciliation of funds
Total funds bought forward
6,043
3,679
9,722
7,693
Total funds carried forward 5,909
2,071
7,980
9,722

Notes

All activities are on-going and there are no discontinued or acquired operations in the year.

32

Leicester Hospitals Charity Balance Sheet as at 31 March 2024

Unrestricted
Restricted
Total
Total
Funds
Funds Funds 23-24 Funds 22-23
Note
£000
£000
£000
£000
Fixed assets
Investments
8
3,841
1,506
5,347
4,964		 Unrestricted
Restricted
Total
Total
Funds
Funds Funds 23-24 Funds 22-23
Note
£000
£000
£000
£000
Fixed assets
Investments
8
3,841
1,506
5,347
4,964
Total fixed assets
Current assets
Debtors
9
Cash at bank and in hand		 3,841
1,506
5,347
4,964
286
31
317
324
1,945
682
2,627
4,635
Total current assets
Liabilities
Creditors: amounts falling due within one year
10		 2,231
713
2,944
4,959
(163)
(148)
(311)
(201)
Net current assets 2,068
565
2,633
4,758
Total net assets 5,909
2,071
7,980
9,722
Funds of the Charity
Restricted funds
11.2
Unrestricted funds
11.2		 2,071
2,071
3,679
5,909
5,909
6,043
Total funds of the Charity 5,909
2,071
7,980
9,722

These financial statements were approved by the Trustee on 14th November 2024 and are signed on its behalf by:

Chief Financial Officer

33

Leicester Hospitals Charity Statement of Cash Flow at 31 March 2024

Table 1: Statement of Cash Flow 23-24 Total
Funds
22-23 Total
Funds
Cash flows from operating activities:
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Net cash provided by investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Table 2: Reconciliation of net income/(expenditure) to net cash flow from
operating activities		 £000
£000
(2,224)
2,016
216
162
216
162
(2,008)
2,178
4,635
2,457
2,627
4,635
23-24 Total
Funds
22-23 Total
Funds
£000
£000
Net income/(expenditure) for the reporting period (as per the statement of
financial activities)		 (1,742)
2,029
Adjustments for:
(Gains)/losses on investments (393)
398
Dividends, interest and rents from investments
Investment management fees & income transacted through the investment account		 (216)
(162)
10
2
(Increase)/decrease in debtors 7
(154)
Increase/(decrease) in creditors 110
(97)
Net cash provided by operating activities (2,224)
2,016
Table 3: Analysis of cash and cash equivalents
Description
£000
£000
Cash in Hand 2,627
4,635
Total cash and cash equivalents 2,627
4,635

34

Leicester Hospitals Charity Notes to the Accounts

Note 1 - Charity Information

Leicester Hospital Charity is a private unincorporated charity, which is a public benefit entity (registration number: 1056804). The Charity is registered and domiciled in the United Kingdom. The principal address is Belgrave House, Gwendolen Road, Leicester General Hospital, LE5 4PW.

Note 2 - Accounting Policies

a) Basis of preparation

The financial statements have been prepared on an accruals basis. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at fair value. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice.

The accounts have been prepared on a going concern basis and there are no material uncertainties about the Charity's abilities to continue.

b) Incoming resources

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

c) Incoming resources from legacies

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

Receipt is probable when:

d) Gifts in kind

Gifts in kind are recorded in the statement of financial activities as incoming resources if they are given and held as stock for distribution by the Charity, and an equivalent amount will be disclosed as resources expended to reflect their distribution. Assets given for use by the Charity are included within incoming resources and also recognised as a fixed asset when receivable. Where a gift has been made in kind and on trust for future conversion into cash for use by the Charity, then the incoming resources will be recognised if material and when receivable, with an adjustment being made to the valuation upon realisation of the gift. Items donated for resale in the on-site hospital shops are recognised as income upon the sale of those items. The proceeds of those sales are recognised as income from trading activities.

e) Funds structure

Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified in the accounts as a restricted fund. Unrestricted funds are those which the Trustee is free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds which are funds the Trustees have chosen to earmark for set purposes, although there is no legal restriction as to their use.

f) Resources expended

The accounts are prepared in accordance with the accruals concept. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party.

35

Note 2 - Accounting Policies (Continued)

g) Grants payable

Grants payable are payments, made to third parties (including NHS bodies) in the furtherance of the charitable objectives. They are accounted for on an accruals basis and are recognised in the accounts where the conditions for their payment have been met or where a third party has reasonable expectation that they will receive a grant.

h) Costs of generating funds

The cost of generating funds are the costs associated with generating income for the funds held on trust. This will include the costs associated with the salaries of the fundraising department and investment management fees.

i) Support and overhead costs

Support and overhead costs are accounted for on an accruals basis and mainly relate to recharges of the appropriate proportion of costs incurred for the administration and management support supplied by the University Hospitals of Leicester NHS Trust.

The costs of fundraising, overhead and support costs have either been directly allocated or apportioned to funds on an appropriate basis. Where costs require apportionments, these have been charged to funds on a quarterly basis using average quarterly fund balances as the basis of apportionment. For purposes of the Statement of Financial Activities, overhead costs have been split between expenditure on raising funds and charitable activities.

j) Pensions

The Charity is a grant making Charity and has no employees. Staff recharged to the Charity are employed by the University Hospitals of Leicester NHS Trust under NHS terms and conditions and including its pension arrangements. Recharges to the Charity are inclusive of pension costs.

Past and present employees are covered by the provisions of the two NHS Pension Schemes. Details of the benefits payable and rules of the Schemes can be found on the NHS Pensions website at www.nhsbsa.nhs.uk/pensions. Both are unfunded defined benefit schemes that cover NHS employers, GP practices and other bodies, allowed under the direction of the Secretary of State for Health in England and Wales. They are not designed to be run in a way that would enable NHS bodies to identify their share of the underlying scheme assets and liabilities. Therefore, each scheme is accounted for as if it were a defined contribution scheme: the cost to the NHS body of participating in each scheme is taken as equal to the contributions payable to that scheme for the accounting period.

k) Charitable activities

Cost of charitable activities comprise all costs incurred in the pursuit of charitable objects of the Charity. These costs comprise direct costs incurred as a result of the awarding of grants and an apportionment of overhead and support costs.

l) Fixed asset investments

Investments are a form of basic financial instrument. Fixed asset investments are initially recognised at the transaction value and are subsequently measured at their fair value (market value) as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares are included in Balance Sheet at the current market value quoted by the investment analyst, excluding dividend. Other investments are included at the Trustee's best estimate of market value.

The main form of financial risk faced by the charity is that of volatility in equity and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub-sectors. Further information on the charity's investments can be found in Note 8.

36

Note 2 - Accounting Policies (Continued)

m) Debtors

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

n) 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, in an interest bearing savings account.

o) Creditors

Creditors are amounts owed by the Charity. They are measured at the amount that the Charity expects to have to pay to settle the debt.

p) Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (or purchase date if later). Unrealised gains and losses are calculated as the difference between market value at the year end and opening market value (or purchase date if later).

q) VAT

The Charity currently utilises benefits from the use of VAT exemption certificates for relevant purchases for donations to the NHS trust. The Charity also reclaims VAT on relevant contracted out services that are supplied to the NHS trust as part of the awarding of grants. Any irrecoverable VAT is charged back against the category of resources expended for which it was incurred.

r) Critical accounting estimates and areas of judgements

Preparation of the financial statements requires the trustees and management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

37

Note 3 - Prior year comparatives by type of fund

The primary statements provide prior year comparatives in total; this note provides prior year comparatives for the Statement of Financial Activities and Balance Sheet for Unrestricted and Restricted funds held by the Charity.

Unrestricted funds - Statement of Financial Activity

Income from
Donations and legacies
Other trading activities
Investments
Total Income
Expenditure on
Raising funds
Charitable activities
Total expenditure
(Losses)/gains on investment assets
Net income/(expenditure)
Gross transfers between funds in year
Net incoming/(outgoing) resources
Reconciliation of funds
Total funds bought forward
Total funds carried forward
Unrestricted funds - Balance Sheet
Fixed assets:
Investments
Total fixed assets
Current assets:
Debtors
Cash at bank and in hand
Total current assets
Liabilities:
Creditors falling due within one year
Net current assets
Total net assets for unrestricted funds
Total Unrestricted funds		 31 March
2024
31 March
2023
£000
£000
1,692
2,074
1
1
149
119
1,842
2,194
557
603
1,664
1,219
2,221
1,822
295
(314)
(84)
58
(50)
-
(134)
58
6,043
5,985
5,909
6,043
31 March
2024
31 March
2023
£000
£000
3,841
3,005
3,841
3,005
286
275
1,945
2,881
2,231
3,156
(163)
(118)
2,068
3,038
5,909
6,043
5,909
6,043

38

Note 3 - Prior year comparatives by type of fund (Continued)

Restricted funds - Statement of Financial Activity

Restricted funds - Statement of Financial Activity
Note 3 - Prior year comparatives by type of fund (Continued)
Income from
Donations and legacies
Other trading activities
Investments
Total Income
Expenditure on
Raising funds
Charitable activities
Total expenditure
(Losses)/gains on investment assets
Net income/(expenditure)
Gross transfers between funds in year
Net incoming/(outgoing) resources
Reconciliation of funds
Total funds bought forward
Total funds carried forward
Restricted funds - Balance Sheet
Fixed assets:
Investments
Total fixed assets
Current assets:
Debtors
Cash at bank and in hand
Total current assets
Liabilities:
Creditors falling due within one year
Net current assets
Total net assets for restricted funds
Total restricted funds		 31 March
2024
31 March
2023
£000
£000
235
3,042
240
234
67
43
542
3,319
350
315
1,948
949
2,298
1,264
98
(84)
(1,658)
1,971
50
-
(1,608)
1,971
3,679
1,708
2,071
3,679
31 March
2024
31 March
2023
£000
£000
1,506
1,959
1,506
1,959
31
49
682
1,754
713
1,803
(148)
(83)
565
1,720
2,071
3,679
2,071
3,679

39

Note 4 - Related party transactions

Name of connected organisation

University Hospitals of Leicester NHS Trust (the Trust). The Trust, which is the corporate trustee, provides accommodation and managerial support to the Charity. Members of the Trust Board sit on the Charitable Funds Committee which oversees the workings of the Charity.

Turnover of connected organisation £1,587 million (£1,491 million in 2022-23)

The Trust is the sole beneficiary of the Charity. Following the approval of grant applications received from the Trust, the Charity incurs expenditure which benefits the Trust's patients, their carers and the staff who look after them. The funding amounted to £3.6m (£2.2m in 2022-23) and is reflected under charitable activities within the Statement of Financial Activities. During the year no members of the Trust Board or senior Trust staff or parties related to them were beneficiaries of the Charity.

The Charity has paid charges amounting to £156k to the Trust in the year for accommodation charges, finance staff and senior management costs. The Charity's fundraising staff are paid directly by the Trust and recharged to the Charity.

Details of the debtor and creditor balances held between the Trust and the Charity on 31 March 2024 can be found in Notes 9 and 10.

Note 5 - Incoming resources

The income received by the Charity has been categorised on the face of the Statement of Financial Activities. This mainly comprises of donations, legacies, fundraising and investment income.

Note 5.1 - Income from other trading activities

The Charity runs a public lottery and staff lottery which are classed as trading activities.

Note 5.2 - Income
Lottery Income
Total Income from trading activities		 Total
2023-24
£'000
Total
2022-23
£'000
241
235
241
235

40

Note 5.3 - Donations and Legacies Income Total
£'000k £'000k
Legacies
Specific legacy 115
Specific legacy 160
Specific legacy 60
Specific legacy 38
Other legacies 226
Donations 599
Charitable Foundation 213
Charitable Foundation 80
Community Group 75
Corporate Donation 60
Other donations and fundraising 900
1,328
Total Donations and Legacies 1,927
Note 6 - Resources expended
The Statement of Financial Activities summarises expenditure between charitable activities and the
expenditure on raising funds.

Note 6.1 - Expenditure on raising funds

Fundraising team salaries
Lottery prizes
Appeals and events expenditure
Printing, Postage, Stationery and Marketing
System costs including online giving
Other miscellaneous costs
Investment Manager's Fees
Total expenditure on raising funds		 Unrestricted
Funds
£'000
Restricted
funds
£'000
Total
2023-24
£'000
Total
2022-23
£'000
434
199
633
520
-
107
107
107
35
5
40
178
48
26
74
36
12
3
15
14
15
5
20
45
13
5
18
18
557
350
907
918

41

Note 6.2 - Expenditure on charitable activities

The only charitable activity that the Charity undertakes is the awarding of grants. The Charity does not make grants to individuals and the actual disbursement received by the beneficiaries for each category is disclosed below. These figures include an apportionment of support costs.

costs.
Grant Support Total Total
Funded Costs 2023-24 2022-23
£'000 £'000 £'000 £'000
Patient welfare and amenities 291 15 306 576
Staff welfare and amenities 334 17 351 215
Research 31 2 33 115
Capital contributions 2,777 145 2,922 1,262
Total expenditure on charitable activities 3,433 179 3,612 2,168

All grants are made to the Trust. The Trustee operates a Scheme of Delegation through which all grant funded activity is managed by fund managers, responsible for the day to day disbursements on their projects. This activity is undertaken in accordance with the directions set out by the Trustee in its Standing Orders and Standing Financial Instructions which have been adopted by the Charity.

Patient welfare
Staff welfare
Research
Capital
Total grants		 172
119
291
528
268
66
334
197
26
5
31
106
1,074
1,703
2,777
1,157
1,540
1,893
3,433
1,988
Total
2023-24
£000
Total
2022-23
£000
Unrestricted
Funds
£000s
Restricted
funds
£000s

Note 6.3 - Analysis of staff costs

The Charity does not employ any direct staff but is recharged with the costs of staff from the NHS trust. These staff provide administration, accounting, fundraising and management support to the Charity and their costs are summarised in the Table below:

Fundraising & appeals team
Finance accounting & administration
Total staff costs
This can be further analysed as follows:
Salaries
Pensions
National insurance contributions
Total staff costs		 633
138
771
623
81
67
771
2023-24
£'000
2023-24
£'000		 520
139
659
539
70
50
659
2022-23
£'000
2022-23
£'000

The average number of full time equivalent employees during the year was 18 (16 in 2022-23). 2 employees had emoluments in excess of £60,000 and had employee benefits excluding employer pension costs of between £60,000 and £70,000. (1 employee in 2022-23 between £80,000 and £90,000).

The Charity considers its key management personnel to comprise of the Trustees and the Charity Director. The total employment benefits, including employer pension contributions and employer national insurance contributions, of the key management personnel were £83,909. (2022-23: £101,485).

Note 6.4 - Auditor's remuneration

The External Auditor's remuneration of £14,700 inclusive of VAT (£13,800 in 2022-23 inclusive of VAT) related solely to the audit of the Charity's accounts, with no additional work undertaken.

Note 6.5 - Grants and donations returned to third parties

No grants were returned to third parties in 2023-24 (£nil in 2022-23). One donation for £9,428. was returned in 2023-24 (£nil in 2022-23).

42

Note 7 - Financial Instruments

The Charity has financial assets and financial liabilities in the following categories:

Financial Assets
Financial assets measured at fair value through income and expenditure:
Cash at Bank and in hand
Debt instruments measured at amortised cost:
Trade debtors
Other debtors
Total
Financial Liabilities
Financial Liabilities measured at amortised cost:
Trade payables
Other creditors
Total		 31 March
2024
31 March
2023
£'000
£'000
2,627
4,635
21
31
16
18
37
49
92
90
219
111
311
201

Note 8 - Fixed asset investments

The Charity does not hold any tangible or heritage assets. The only fixed assets that the Charity holds relate to an investment portfolio managed by the Trust's investment manager's instructed to maximise the level in growth in funds that is consistent with a broadly low risk strategy.

Note 8.1 - Movement in fixed asset investments
Market value at 1 April 2023
Add: additions to investment at cost
Less: disposals at carrying value
Add: realised gain/(loss) on disposal
Add: unrealised gain/(loss) on revaluation
Market value as at 31 March 2024		 4,964
5,364
891
959
(901)
(961)
17
(61)
376
(337)
5,347
4,964
2023-24
£'000
2022-23
£'000

*Total Gains for 2023-24 - £393k (2022-23 - £398k Losses)

43

Note 8.2 - Analysis of investment portfolio

Investments listed in unit trusts
Cash held as part of investment portfolio
Market Value as at 31 March 2024
Note 8.3 - Analysis of gross income from investments
Income from investment manager's portfolio
Other investments
Total investment income		 £'000
£'000
2,446
2,866
5,312
4,915
35
-
35
49
2,481
2,866
5,347
4,964
106
48
154
146
43
19
62
16
149
67
216
162
2023-24
Total
£'000
2022-23
Total
£'000
2022-23
Total
£'000
Restricted
Funds £'000
2023-24
Total
£'000
Unrestricted
Funds £'000
Held in UK Held outside UK

44

Note 8.4 - Investments

Note 8.4 - Investments
% of
Value as at portfolio as
31st March at 31st
2024 March 2024
£'000 %
Equities
UK equities
ADMIRAL GROUP ORD 56 1.1%
ASHTEAD GROUP ORD 60 1.1%
BP ORD 71 1.3%
COMPASS GROUP PLC ORD 62 1.2%
CRODA INTERNATIONAL ORD 40 0.8%
HALEON PLC ORD 56 1.0%
LEGAL & GENERAL GROUP ORD 69 1.3%
LINK FUND SOLUTIONS LTD GRESHAM HS UK MUL CAP F INC 58 1.1%
NATIONAL GRID ORD 62 1.2%
RELX PLC 68 1.3%
RIO TINTO ORD 61 1.1%
SHELL PLC ORD 69 1.3%
UNILEVER PLC ORD 56 1.1%
International equities
BAILLIE GIFFORD OSEAS GTH FDS ICVC BAILLIE GIFFORD AMERICAN FUND W1 ACC 182 3.4%
BNY MELLON GLOBAL FUNDS PLC BNY MELLON US EQUITY INCOME E GBP DIS 131 2.5%
FIDELITY UCITS ICAV US QUALITY INCOME UCITS ETF INC USD 134 2.5%
ISHARES CORE S&P 500 UCITS ETF USD (DIST) 376 7.0%
JPMORGAN FUND ICVC JPM US EQUITY INCOME C2 GBP NET DIS 121 2.3%
VANGUARD INVESTMENTS FUNDS ICVC VANGUARD US EQTY IDX INSTL PLUS GBP DIS 376 7.0%
ALCON AG 50 0.9%
ASML HOLDING NV 72 1.3%
BLACKROCK FUND MANAGERS LTD BLACKROCK EUROPEAN DYNAMIC FD DIS 46 0.9%
KONE OYJ SER'B'NPV 43 0.8%
PREMIER MITON INVESTMENT FUNDS 3 PREMIER MITON EUROPEAN OPPS B ACC 49 0.9%
SCHRODER INVESTMENT FUND COMPANY SCHRODER EUROPEAN RECOVERY Q1 GBP DIS 49 0.9%
M&G INVESTMENT FUNDS (1) M&G JAPAN STERLING PP DIS 69 1.3%
MAN INTERNATIONAL ICVC MAN GLG JPN COREALPHA PROFSNL D DIS 66 1.2%
FEDERATED HERMES INVESTMENT FDS PLC FEDERATED HERMES ASIA EX JAPAN EQ F2 GB 157 2.9%
MORGAN STANLEY INVESTMENT FDS SICAV ASIA OPPORTUNITY J USD ACC 83 1.6%
Total Equities 2,793 52.2%
Bonds
UK Bonds
MAN FIXED INTEREST ICVC MAN GLG STERLING CORP BD INSTL G DIS 204 3.8%
MAN FUNDS PLC GLG GLOBAL INVESTMENT GRADE OPPORTUNITIE 242 4.5%
UNITED KINGDOM(GOVERNMENT OF) 4.125% BDS 29/01/2027 GBP1000 52 1.0%
UNITED KINGDOM(GOVERNMENT OF) 4.5% GILT BDS 07/09/2034 GBP1000 74 1.4%
UNITED KINGDOM(GOVERNMENT OF) 5% SNR BDS 07/03/2025 GBP1000 96 1.8%
International Bonds
JANUS HENDERSON FUND MGMT UK LTD JANUS HENDERSON FIXED INTEREST MONTHLY I 117 2.2%
JUPITER UNIT TRUST MANAGERS LTD JUPITER GLOBAL STRAT BOND X GBP DIS 223 4.2%
MI SELECT MANAGERS BOND INSTL DIS 74 1.4%
VANGUARD INVESTMENT SERIES PLC VANGUARD U S GOVT BOND IDX GBP HGD DIS 47 0.9%
XTRACKERS II GBL INFLT LKD BD UETF 3D GBP H D 200 3.7%
Total Bonds 1,328 24.8%
Property
ABRDN EUROPEAN LOGISTICS INCOME PLC ORD GBP0.01		 47.22 0.9%
CHARITIES PROPERTY FUND CHARITIES PROPERTY DIS 63.85 1.2%
LONDONMETRIC PROPERTY PLC ORD GBP0.10 42.88 0.8%
SCHRODER UNIT TRUSTS LTD SCHRODER GBL CITIES REAL ESTATE L DIS 45.48 0.9%
Total Property 199 3.7%
Other
BLACKROCK FUND MANAGERS LTD BLACKROCK EMERGING MARKETS S ACC 38.18 0.7%
Bank of America 6Y UKX SPX 8.40% Income Autocall 64.01 1.2%
FRANKLIN TEMPLETON FUNDS FTF CLEARBRIDGE GBL INFRSTR INC S GBPDIS 99.84 1.9%
BLACKROCK STRATEGIC FUNDS SICAV BLACKROCK EMG COS ABS RTN S2 GBP ACC 136.52 2.6%
JPMORGAN FUND ICVC JPM GLOBAL MACRO OPPORTUNITIES C NET DIS 104.46 2.0%
NINETY ONE FUNDS SERIES I DIVERSIFIED INCOME J 2 GBP DIS 121.56
TROJAN INVESTMENT FUNDS TROJAN X DIS 257.61 4.8%
INTERNATIONAL PUBLIC PARTNERSHIP ORD 59.63
SEQUOIA ECONOMIC INFRAST INC FD LTD NPV 37.68
0.0%
Total Other 919 17.2%
Cash
Total cash 107 2.0%
Total investments 5,347 100%

45

Note 9 - Analysis of debtors

Amounts falling due within one year:
Accrued income
Debtors - recharges due from UHL NHS Trust
Other debtors
Total debtors
Note 10 - Analysis of creditors
Amounts falling due within one year:
Creditors - recharges due to UHL NHS Trust
Other creditors
Total creditors		 280
275
21
31
16
18
317
324
92
90
219
111
311
201
2023-24
£'000
2022-23
£'000
2023-24
£'000
2022-23
£'000

Note 11.1 - Endowment funds

The Charity held no endowment funds during the year 2023-24 (2022-23 - Nil).

Note 11.2 - Analysis of material restricted & unrestricted funds

Restricted Funds
Childrens' Appeal
Garden
Neonatal Equipment
NHSCT stage 2
Samworth Surgical Robot
Spiritual Care Space
Staff lottery
Others		 £'000
£'000
£'000
£'000
£'000
£'000
363
29
(46)
0
27
373
0
214
(118)
0
6
102
733
18
(118)
0
45
678
131
1
(103)
0
2
31
1,500
16
(1,570)
50
4
0
293
7
(51)
0
18
267
232
246
(226)
0
18
270
426
11
(66)
0
(22)
349
Gains and
losses
Balance at
31 March
2024
Balance at
1 April 2023
Incoming
Resources
Transfers
Resources
Expended
Total restricted funds 3,679
542
(2,298)
50
98
2,071
Unrestricted Funds
Breast Care Services
103
3
(11)
0
6
101
Cardio Respiratory
445
331
(373)
0
29
432
Chemotherapy Suite
421
169
(80)
0
33
543
Childrens Services
50
209
(106)
0
10
163
Critical Care
129
24
(37)
0
8
124
Diabetes
507
14
(59)
0
34
496
General Purposes of Leicester Hosp
1,657
303
(852)
96
81
1,285
Haematology
94
37
(13)
0
8
126
Kidney care
169
6
(30)
0
10
155
Neonatal
167
80
(110)
1
11
149
Oncology
229
231
(125)
0
26
361
Ophthalmology
455
19
(95)
0
29
408
Pancreatic & Hepatobiliary Research
160
6
(18)
0
10
158
Surgery - Breast Care Services
189
17
(21)
0
13
198
Others (55 funds)
1,269
393
(291)
(147)
(13)
1,211
Total unrestricted funds 6,043
1,842
(2,221)
(50)
295
5,909
Total Funds 9,722
2,384
(4,519)
0
393
7,980

All transfers between funds have been appropriately approved in accordance with the Charity's policy. Where transfers have been made between restricted and unrestricted funds the purpose of both the restricted and unrestricted funds involved in the transfer were the same.

All unrestricted funds are designated funds apart from the General purposes fund. The Charity designates funds by department and as either staff benefit, patient benefit, equipment or research. The Charity permits transfers between designated funds.

46

Note 11.3 - Details of material restricted funds as in 11.2

Name of fund

Description, nature and purpose of fund

Childrens' Appeal To support the development of the Childrens' Hospital. Neonatal Equipment Appeal To fund equipment for the Neonatal department. NHS Stage 2 To receive and distribute the NHS Stage 2 community grants. Samworth Surgical Robot To fund a surgical robot. Spiritual Care space To support the development of the Spiritual Care space. Staff lottery Provision of a lottery with the surplus used for the benefit of staff.

Note 12 - Contingencies

The Charity recognises a contingent asset for a probate asset that is expected to be received. The maximum value for the probate asset is deemed to be £675k, of which £295k has already been received and accounted for. Therefore, a contingent asset for the remaining amount of £380k is recognised.However, there is uncertainty relating to the amount remaining and timing of the settlement as there has been no further correspondence from the solicitors dealing with the probate, and the Charity is yet to receive a Statement of Account detailing the final value. (2022-23 - £450k).

Note 13 - Commitments, liabilities and provisions

The Charity has the following commitments as at the 31 March 2024:

Charitable projects
Total		 1,981
1,981
2023-24
£'000		 1,808
1,808
2022-23
£'000

The Charity recognises liabilities in the accounts once there is a legal or constructive obligation to expend funds. The commitments in this note reflect the Charity's intentions to spend, and as such are not classed as liabilities in the accounts. They are all due within one year.

Movement within year
Closing value
Utilised in year
Arising in year
Opening value
Unused / reversed		 1,808
4,186
(3,361)
(652)
1,981
2023-24
£'000		 1,117
4,110
(3,023)
(396)
1,808
2022-23
£'000

Note 14 - Trustee expenses and remuneration

The Charity did not make any reimbursements for expenses or remuneration to the Corporate Trustee or any of its agents during the financial year 2023-24 (2022-23 - Nil).

Note 15 - Details of transactions with the Trustee or connected parties

The Charity did not have any connected person, other than the connected organisation noted in Note 4.

Note 16 - Volunteers

There are no volunteers attached to the Charity. UHL volunteer staff occasionally help in various projects. Other volunteers may be available at various events. These occasional volunteers enable the charity to more effectively raise funds.

47