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← Leicester Hospitals Charity

2025-03-31-accounts

LEICESTER HOSPITALS CHARITY TRUSTEE'S ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2025

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Table of Contents

Foreword by the Chairman of University Hospitals of Leicester NHS Trust ............ 3 Who we are ..................................................................................................... 5 What we aim to do: our objectives and activities ............................................... 5 Our Mission ............................................................................................. 5 What we have achieved: highlights from the activities undertaken in 2024/25 ................................................................................................................ 6 Case Study #1: High-quality care for all - Supporting patient wellbeing through cold cap therapy .............................................................................................. 7 Case Study #2: High quality care for all - Helping patients stay active and positive through movement and music ............................................................. 7 Case Study #3: A great place to work – Wellbeing at work programme ............. 8 Case study #4: A Great Place to Work – A new wellbeing garden at the Leicester Royal Infirmary ................................................................................. 9 Case Study #5: Partnerships for impact – Cancer care at Leicester Royal Infirmary transformed as new chemotherapy suite opens ............................... 10 Case Study #6: Partnerships for impact – New upgraded Helipad opens at Glenfield Hospital. ......................................................................................... 11 Case Study #7: Research and education excellence – SAFESEDATE – enhanced sedation training for Cath Lab nursing staff .................................... 12 How we funded our work, our achievements and performance ................. 12 Money received £2.9m- Money spent £4.3m .......................................... 13 Money received: sources of income ....................................................... 13 Money spent: what we spent the money on .......................................... 15 What we plan to do with your donations: our future ......................................... 18 How we manage the money ........................................................................... 19 Our Reserves policy ...................................................................................... 20 How we organise our affairs: reference and administration details ............. 23 Trustee's responsibilities statement ................................................................ 29

Foreword by the Chairman of University Hospitals of Leicester NHS Trust

I am honoured, as Chairman of University Hospitals Leicester NHS Trust, to present the Leicester Hospitals Charity Annual Report for the year ending 31 March 2025.

Leicester Hospitals Charity, the official charity of the University Hospitals of Leicester NHS Trust (UHL), 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 has had another year of significant impact, with a total income of £2.9 million. I am pleased to report that a total of £3.4 million was invested back into charitable activities and projects that benefit patients and staff across UHL during 2024/25.

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 supporting UHL in working towards its four strategic goals of:

  1. High-quality care for all

  2. A great place to work

  3. Partnerships for impact

  4. Research and education excellence

The financial year 2024/25 also marks a period of renewal for the Charity. Building on the independent review undertaken last year, we are now embedding a refreshed strategy to grow our fundraising income, strengthen our relationships with partners and supporters, and deliver sustainable long-term impact to benefit patients, staff and communities across our Trust.

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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 2025/26 and beyond, we remain committed to working with our colleagues and communities to ensure that Leicester Hospitals Charity continues to play an integral role in helping UHL deliver outstanding care and innovation.

Andrew Moore Chairman

University Hospitals of Leicester NHS Trust 11th December 2025

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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 are only able to support Leicester’s three hospitals and seven community sites thanks to the support from our community. Please read on and let us tell you more about ourselves, what we do, what we have achieved this year, and the incredible impact gifts and philanthropic investments have made.

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 charitable objectives, and the wishes of donors. In making grants, we improve the experience and services of patients and staff by directing funds towards the areas of greatest need and impact.

During the year 2024/25, grants totalling £3.4M were made from charitable funds for the benefit of University Hospitals of Leicester NHS Trust. 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 how this relates to our charity.

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What we have achieved: highlights from the activities undertaken in 2024/25

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 and consult 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. We exist to support UHL in achieving its overall strategy and align our 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.

In 2023, UHL published its new seven-year strategy, centred 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 - Supporting patient wellbeing through cold cap therapy

Thanks to the generosity of our supporters, patients undergoing chemotherapy now have greater choice and control over their treatment experience. This year, ten new cold caps and three additional cooling systems have been introduced to Leicester Royal Infirmary’s Chemotherapy Suite, enabling more patients to access cold cap therapy as part of their care. The continued investment into innovative treatment provisions within the unit is really helping to enhance the support and care offered to patients.

Cold cap therapy helps to reduce the likelihood of hair loss during chemotherapy. The system works by circulating coolant through a specially designed cap worn during treatment, lowering the temperature of the scalp and helping to protect hair follicles from the damaging effects of chemotherapy drugs. For many patients, this therapy offers more than physical protection, it provides emotional reassurance and a sense of normality at a difficult time.

Karen, from Uppingham in Rutland, was diagnosed with triple-negative breast cancer in May 2024. Like many patients, she described her diagnosis as a complete shock. Through her own research, she discovered the option of cold cap therapy and discussed it with her care team. As an A-Level Biology teacher, Karen valued being able to understand the treatment in detail and make an informed choice.

“For me, it wasn’t just about hair,” Karen explained. “It was about holding on to my identity, not wanting people to see me and immediately think ‘that’s the lady with cancer.’ It gave me confidence to carry on meeting friends and going about my daily life.”

Macmillan Lead SACT Nurse Clair Burroughs highlighted the importance of offering this choice to patients. “Cold cap therapy helps reduce the psychological impact of treatment. It gives patients back a sense of control when so much else can feel beyond their control.”

Thanks to charitable support, patients like Karen are better able to maintain their sense of self and dignity during treatment, helping them face the challenges of cancer with renewed strength and confidence.

Case Study #2: High quality care for all - Helping patients stay active and positive through movement and music

Thanks to the generosity of our supporters, innovative programmes like Dose of Dance are helping patients stay active, connected, and positive during their

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hospital stay. Developed in partnership with Virtual Motion Dance Company, this creative initiative brings dance-based movement sessions to patients at Leicester’s Hospitals, supporting their recovery through gentle, personalised activity.

Led by Helen Stirland, Director of Virtual Motion Dance Company, Dose of Dance works in collaboration with Occupational Therapists to support patients’ rehabilitation in a fun and engaging way. Sessions are carefully tailored to each patient’s ability — whether seated, standing, or even from a hospital bed — ensuring everyone can take part in a way that feels safe, achievable, and uplifting.

For June, an 85-year-old patient from Wigston, these sessions have played a key role in helping her rebuild strength and confidence following a series of falls which led to a short hospital stay. Determined to return home as soon as possible, June described the sessions as both joyful and empowering:

“Even if you only do a little thing, it’s magic. Sometimes the little things are the most important. I’ve really enjoyed the sessions and will practice the dance moves when I’m back home.”

The benefits extend beyond physical activity. Dose of Dance sessions help reduce feelings of isolation, bringing moments of joy, connection, and positivity to patients during difficult times. They also support rehabilitation goals by improving strength, coordination, and mobility — key factors in preventing deconditioning, which can result from long periods of inactivity due to illness or surgery.

Adeola Adewole, Senior Occupational Therapist, explains, “Dose of Dance helps patients feel more confident in their ability to move. It improves mood, motivation, and participation in therapy. The movements support strength and coordination, and many exercises can be continued at home to support ongoing recovery.”

Through funding innovative programmes like Dose of Dance are transforming the patient experience — not just helping people recover physically, but restoring confidence, dignity, and joy along the way.

Case Study #3: A great place to work – Wellbeing at work programme

Creating a great place to work remains a key priority at Leicester’s Hospitals. Our Wellbeing at Work programme plays an important part in supporting this ambition by offering a wide range of activities designed to promote physical, mental, social, and emotional wellbeing across our workforce.

This year we have proudly funded 12 months of wellbeing at work activities across UHL. The programme is open to all of our 18,000 colleagues, with activities

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shaped directly by staff feedback to ensure they reflect what matters most to those working across our hospitals. Activities are aimed at reducing stress, tackling burnout, promoting healthy lifestyles, encouraging team building, and providing opportunities for connection and creativity.

In 2024/25, more than 1,400 colleagues took part in activities including exercise classes, sports sessions, creative workshops, wellbeing therapies, and coach trips. The programme continues to evolve in response to feedback, with new activities such as Bollywood dancing, photography workshops, and face-to-face yoga introduced this year.

Feedback from participants highlights the value of these opportunities in improving wellbeing, morale, and resilience:

“Increasing the wellbeing of the workforce reduces stress and encourages team cohesiveness. This leads to improved compassion and care for our patients.”

“These wellbeing sessions reduce stress for our staff. Happier staff = better patient care and less sickness absence.”

The programme complements our wider Health and Work support services, People Strategy and directly contributes to our aim of reducing sickness absence linked to stress, anxiety and burnout. It is aligned with our UHL Values and supports delivery of our strategic goal to be a Great Place to Work.

By investing in the wellbeing of our people, we are helping to build a happier, healthier, and more resilient workforce — something that benefits not only our staff but also the patients and communities we serve.

Case Study #4: A Great Place to Work – A new wellbeing garden at the Leicester Royal Infirmary

In September we proudly unveiled the Mackay Wellbeing Garden at Leicester Royal Infirmary. Made possible thanks to the generosity of a local philanthropist, the garden provides a calm and restorative space for our staff.

The idea was first brought forward by the Emergency Department’s Shared Decision-Making Council, who wanted to create a sanctuary away from the clinical environment to support the physical and mental wellbeing of staff, in particular staff working in our busy emergency department. The result is a beautifully landscaped garden with seating and planting designed to bring comfort and peace to those experiencing difficult moments during shifts.

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Since its opening the garden has been warmly received. Staff say it helps them to step outside and take a much-needed break from the ward, recognising the value of a few quiet minutes outdoors during a demanding shift. Staff offering wellbeing support have also reported that being able to have conversations with colleagues outside the clinical environment has been a really positive outcome of the new garden.

The Mackay Wellbeing Garden demonstrates how the support of our donors enables us to make a lasting difference. By investing in surroundings as well as treatment, we are helping to improve recovery, lift spirits and support the wellbeing of our hardworking staff.

Case Study #5: Partnerships for impact – Cancer care at Leicester Royal Infirmary transformed as new chemotherapy suite opens

The opening of the newly refurbished Chemotherapy Suite at Leicester Royal Infirmary marks a major step forward in the care we provide for cancer patients across Leicester, Leicestershire, and Rutland. Thanks to the incredible generosity of our community — and the invaluable support of our partners, GEMS Charity — more patients will now benefit from state-of-the-art facilities designed to provide comfort, dignity, and the best possible treatment experience.

Through the Leicester Hospitals Charity Chemotherapy Suite Appeal, over £700,000 was raised to transform the chemotherapy suite at the Osborne Building. This funding has provided modern, purpose-built facilities, six additional treatment chairs, and enhanced equipment. These improvements will help deliver an estimated 4,000 additional chemotherapy treatments each year.

For patients like Victoria Price, who was among the first to be treated in the new suite, the impact is immediate, “The new suite is lovely. I was very nervous for my first treatment, but I felt so reassured when I came in. The room is so nice, and the staff are so kind — it has made me feel relaxed and at ease.”

Victoria’s mother, Elaine, reflected on the difference it makes, “Thank you to everyone who donated. You’ve made a difficult time so much less scary for patients, and that means the world.”

Partnership was at the heart of this success. GEMS Charity, a small, volunteer-led organisation in Leicestershire, played a pivotal role by helping close the funding gap to ensure the project could be delivered without delay. Their dedication exemplifies the impact that collaboration between hospital charities and community partners can achieve.

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Sally Anderson, Founder of GEMS Charity, said, “This is the biggest project we’ve undertaken. We felt it was important to ensure patients could receive treatment in a bright, modern space as soon as possible. It’s a proud achievement that shows the power of a community working together.”

The finished space and its state-of-the-art facilities highlights the impact of community-driven fundraising. Our partnership with GEMS Charity shows what’s possible when we work with local organisations and individuals for a shared purpose.

The new suite allows UHL to offer a more comfortable and dignified environment for patients undergoing treatment.

Case Study #6: Partnerships for impact – New upgraded Helipad opens at Glenfield Hospital.

A new, upgraded helipad at Glenfield Hospital is now operational, supporting faster and safer emergency transfers for some of the region’s most critically ill patients.

The project was made possible thanks to a £288,000 donation from the HELP Appeal, a charity dedicated to funding hospital helipads across the NHS. The new facility features a larger landing area and enhanced lighting for night operations, ensuring it meets modern safety and regulatory standards.

This development builds on Glenfield Hospital’s long-standing role in providing specialist care, including for cardiac and respiratory emergencies. The helipad is expected to see around 40 landings a year, helping patients reach life-saving treatment more quickly.

Grace Broughton, Capital Project Manager at UHL, said, “We are grateful to the HELP Appeal for fully funding this important upgrade. Their support has enabled us to modernise our existing helipad, originally funded by our local partner HeartLink, ensuring it continues to serve patients safely and effectively.”

Robert Bertram, Chief Executive of the HELP Appeal, added, “Thanks to the generosity of our supporters, this upgraded helipad will help ensure critically ill patients are transferred quickly and safely to receive the care they need.”

Our partnership with the Help Appeal has allowed us to improve key infrastructure that will benefit patients across Leicester, Leicestershire, Rutland, and the wider East Midlands.

This project highlights how collaborative partnerships with specialist charities can deliver targeted improvements that enhance patient care and safety.

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Case Study #7: Research and education excellence – SAFESEDATE – enhanced sedation training for Cath Lab nursing staff

Thanks to charitable funding, UHL have been able to provide our Cath Lab nursing teams with enhanced training opportunities that go beyond standard provision, helping them to deliver even safer and more effective care. This investment in specialist education reflects our commitment to patient safety, staff development, and excellence in care.

Our Cardiac Catheter Laboratories carry out a wide range of complex, minimally invasive procedures every day. Sedation plays a key role in ensuring these procedures are as comfortable and stress-free as possible for patients. However, sedation also carries risks, and staff must be fully trained to recognise and respond to any complications confidently and safely.

Charitable funds have enabled nurses from across our five Cath Lab suites to undertake the nationally recognised SEDATE UK training programme, enhancing their expertise in delivering safe, nurse-led sedation. This advanced training equips them to manage more complex cases, improving both patient experience and outcomes, and supporting the growing demand for minimally invasive treatments.

By investing in this additional training, we are helping to ensure that our Cath Lab teams are equipped with the latest best-practice knowledge, fostering both patient safety and professional development. This supports our ambition to be recognised for research and education excellence and also aligns with the Trust’s aim of being a great place to work.

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.

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Money received £2.9m- Money spent £4.3m

We rely entirely on fundraised income and donations to support UHL and meet our charitable objectives. We receive support from individual donors, community fundraisers, corporate partners and through fundraising appeals and events. A true testament to the work of UHL and its staff is the income we receive through gifts in memory and legacy income. Overall, we have received in year £2.7m 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.

----- Start of picture text -----
Sources of Income 2024-25 £k
Investment
income, £214k
Trading Activities
£255k
Legacies, £1,314k
Donations,
£1,106k
----- End of picture text -----

General Donations (£209k). 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

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appeal or clinical area and go towards our general purposes funds. This fund supports areas of greatest need at UHL.

Events and Challenges (£37k). Hosting fundraising events forms an important part of how we raise money for specific appeals as well as increase the profile of the Charity. Events are also popular with UHL staff fundraisers who often take part in our events programme to raise funds for their specific areas. Given the current fundraising environment and sector insights, the Charity has continued to review our event programme in order to ensure a good ROI on our activities in this area. As a result, we have reduced the number of Charity run fundraising events to include two per year and focused more on supporting events organised by community members and departments in support of UHL.

Community (£562k). We continue to be well supported by 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 specific appeals or projects, or they support our general purposes fund to ensure we are able to allocate funding to areas of greatest need across UHL.

Legacies and Gifts in Memory (£1,408k). Many donations we receive are made by people in memory of loved ones, or through legacies left to us in the Wills of people. 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. The fact that we continue to receive a high level of gifts through legacies and in memory donations are a true testament to the commitment of our communities to wanting to support our local hospitals for the future as well as deep gratitude for the exceptional care provided by our dedicated UHL workforce.

Corporate donations (£110k). 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 (£34k). 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. This is an area of growth and investment for the Charity going forward.

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Major gifts (£59k). 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 (£255k). 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. The lottery income is spent on projects which benefit staff engagement, development and wellbeing.

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.

----- Start of picture text -----
Expenditure 2024-25 £k Patient welfare
and amenities
Support Costs £179k,
£310k, 7%
4%
Staff welfare and
Cost of raising funds £906k ,21%
amenities £213k,
5%
Research £100k,
2%
Capital
contributions
£2,564k, 60%
----- End of picture text -----

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Our charitable work was made up of the following areas:

Grants to provide benefits to patients

The Charity spent £327k (2023-24: £306k) on grants to provide benefits to patients, including £76k to furnish patient areas, £55k to purchase medical and dental equipment, and £40k to fund patient support and education activities.

Grants to provide benefits to staff

The Charity spent £225k (2023-24: £351k) on grants to provide benefits to the Trust by investing in staff, including £81k on educational and training support, £51k on staff recognition, £36k on wellbeing activities and £17k on furnishing improvements to staff areas.

Capital projects for donation to the NHS Trust

The Charity spent £2,708k (2023-24: £2,922k) on grants to provide benefits to patients and staff through capital expenditure, including £1,194k on construction works, £1,189k on medical and dental equipment and £175k on other equipment.

Grants awarded for research projects and patient outcome projects The Charity spent £106k (2023-24: £33k) on grants to support research-related activities, including £49k on funding posts and £46k on research expenses and consumables.

The cost of grants includes a proportion of support costs. This year the charity has invested in external support and expertise to carry out an independent review of the Charity incl. fundraising capacity, team structure and governance. The review concluded with a set of recommendation and work has continued with the consultancy firm to deliver on some of the recommendations in year. In particular, they have supported with establishing a new strategic framework for the future as well as providing interim support in the areas of Major Gifts and Trusts and Foundations. We expect to see a positive return on this investment in in terms of FY 24/25 - FY 27/28.

In FY 24/25 the total investment in strategic development for the Charity was £86k, which was absorbed through existing vacancy savings in the budget, and as such

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has not incurred additional costs to the charity but rather enhanced the expertise and resourcing to further develop and grow strategically.

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 to support the Charity’s PR/Communication activities, 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 participants.

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 instructions on how a person can be removed from mailing lists as well as

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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 £2.7m against a plan of £2.3m. The ROI on fundraising costs of £0.9m is 2.9. 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-term 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. To support UHL’s vision to be leading in healthcare, trusted in 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 cost-of-living crisis and local economic climate 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 and improve the operational capacity, experience and processes of the fundraising team.

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

  7. Become a high performing fundraising team focusing on relationship-based fundraising rather than transactional fundraising operations.

  8. Continue to invest in the charity to meet our strategic goals

These objectives will be presented for approval by the Corporate Trustee at the end of FY 2024/25 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 generalpurpose 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.

Breakdown of Reserves £000
Total Funds 6,658
Less restricted funds - 1,255
less committed funds -1,476
Freely available reserves 3,927

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.

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The Charitable Funds Committee expects that designated funds will be spent within 12 months. It therefore regularly reviews the balances held in designated funds 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 2025 are stated below, compared with the position on 31 March 2024.

Total
Funds
2024-25
£000		 Total
Funds
2023-24
£000
Fixed Asset Investments
Net Current Assets
Total Net Assets
Funds of the Charity
Restricted Funds
Unrestricted Funds
Total Funds of the Charity		 5,393
1,265
6,658
1,255
5,403
6,658		 5,347
2,633
7,980
2,071
5,909
7,980

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.

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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.

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 £214k and the value of realised and unrealised gains within the portfolio was £61k. We expect that the financial performance in 2025/26 will be impacted by a challenging fundraising environment as well as gaps in fundraising capacity and expertise in key areas due to the vacancies within the 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

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

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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 fifteen staff as at 31[st] March 2025. 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:

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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 UHL’s constitution. None of the board members are specifically paid in relation to LHC, they give of their time freely.

Members of the 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 Charity Team through bi-monthly progress report presented by Director of Charity. That team comprises dedicated fundraising professionals 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 NHS remains challenged especially in terms of the financial position for the Trust. Throughout 2024/25, inflation and the cost of living has increased. This is having an impact on the amount that people can donate to charity. Recognising the external factors that impact fundraising and adjusting our operations accordingly is going to help secure future levels of income for the 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

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value the relationships we have with our donors, supporters and communities who 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.

Our fundraisers who make great things happen for our hospitals and communities through their donations and fundraising activities.

Signed on behalf of the Trustee:

Professor Thompson Robinson (Chair of the Charitable Funds Committee)

11th December 2025

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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)

11th December 2025

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF LEICESTER HOSPITALS CHARITY

Opinion

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Leicester Hospitals Charity Statement of Financial Activities for the year ending 31 March 2025

Leicester Hospitals Charity
Statement of Financial Activities for theyear ending 31 March 2025		 Leicester Hospitals Charity
Statement of Financial Activities for theyear ending 31 March 2025
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds 24-25
Funds 23-24
Note
£000
£000
£000
£000
Income from
Donations and legacies
5.3
2,062
358
2,420
1,927
Other trading activities
5.2
1
254
255
241
Investments
8.3
164
50
214
216
Total Income 2,227
662
2,889
2,384
Expenditure on
Raising funds
6.1
617
289
906
907
Charitable activities
6.2
2,056
1,310
3,366
3,612
Total expenditure 2,673
1,599
4,272
4,519
(Losses)/gains on investment assets
8.1
45
16
61
393
Net income/(expenditure)
(401)
(921)
(1,322)
(1,742)
Gross transfers between funds in year
11.2
(105)
105
-
-
Net incoming/(outgoing) resources
(506)
(816)
(1,322)
(1,742)
Reconciliation of funds
Total funds bought forward
5,909
2,071
7,980
9,722
Total funds carried forward 5,403
1,255
6,658
7,980

Notes

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

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Leicester Hospitals Charity Balance Sheet as at 31 March 2025

Unrestricted Unrestricted Restricted Total Total
Funds Funds Funds 24-25 Funds 23-24
Note £000 £000 £000 £000
Fixed assets
Investments 8 4,193 1,200 5,393 5,347
Total fixed assets 4,193 1,200 5,393 5,347
Current assets
Debtors 9 520 50 570 317
Cash at bank and in hand 854 198 1,052 2,627
Total current assets 1,374 248 1,622 2,944
Liabilities
Creditors: amounts falling due within one year 10 (164) (193) (357) (311)
Net current assets 1,210 55 1,265 2,633
Total net assets 5,403 1,255 6,658 7,980
Funds of the Charity
Restricted funds 11.2 1,255 1,255 2,071
Unrestricted funds 11.2 5,403 5,403 5,909
Total funds of the Charity 5,403 1,255 6,658 7,980

These financial statements were approved by the Trustee on 11 December 2025 and are signed on its behalf by:

Chief Financial Officer

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Leicester Hospitals Charity Statement of Cash Flow at 31 March 2025

Table 1: Statement of Cash Flow 24-25 Total
Funds
23-24 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		 £000
£000
(1,789)
(2,224)
214
216
214
216
(1,575)
(2,008)
2,627
4,635
1,052
2,627
Table 2: Reconciliation of net income/(expenditure) to net cash flow from operating
activities
24-25 Total
Funds
23-24 Total
Funds
£000
£000
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)
(1,322)
(1,742)
Adjustments for:
(Gains)/losses on investments (61)
(393)
Dividends, interest and rents from investments (214)
(216)
Investment management fees & income transacted through the investment account 15
10
(Increase)/decrease in debtors (253)
7
Increase/(decrease) in creditors 46
110
Net cash provided by operating activities (1,789)
(2,224)
Table 3: Analysis of cash and cash equivalents
Description
£000
£000
Cash in Hand 1,052
2,627
Total cash and cash equivalents 1,052
2,627

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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.

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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

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.

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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

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: - Determining the basis for allocating support costs;

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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

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
2025
31 March
2024
£000
£000
2,062
1,692
1
1
164
149
2,227
1,842
617
557
2,056
1,664
2,673
2,221
45
295
(401)
(84)
(105)
(50)
(506)
(134)
5,909
6,043
5,403
5,909
31 March
2025
31 March
2024
£000
£000
4,193
3,841
4,193
3,841
520
286
854
1,945
1,374
2,231
(164)
(163)
1,210
2,068
5,403
5,909
5,403
5,909

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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
2025
31 March
2024
£000
£000
358
235
254
240
50
67
662
542
289
350
1,310
1,948
1,599
2,298
16
98
(921)
(1,658)
105
50
(816)
(1,608)
2,071
3,679
1,255
2,071
31 March
2025
31 March
2024
£000
£000
1,200
1,506
1,200
1,506
50
31
198
682
248
713
(193)
(148)
55
565
1,255
2,071
1,255
2,071

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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 £1,786 million (£1,587 million in 2023-24)

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 £3.4m (£3.6m in 2023-24) 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 2025 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
2024-25
£'000
Total
2023-24
£'000
255
241
255
241

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Note 5.3 - Donations and Legacies
Legacies
Specific legacy
Specific legacy
Specific legacy
Specific legacy
Specific legacy
Specific legacy
Specific legacy
Specific legacy
Other legacies
Donations
Charitable Trust
Community Group
Major Gift
Major Gift
Other donations and fundraising
Total Donations and Legacies
Note 6 - Resources expended		 Income
£'000k
400
153
100
87
75
160
80
76
183		 Total
£'000k
289
35
20
20
742		 1,314
1,106
2,420

The Statement of Financial Activities summarises expenditure between charitable activities and the expenditure on raising funds.

Note 6.1 - Expenditure on raising funds

Note 6.1 - Expenditure on raising funds
Fundraising team salaries
Lottery prizes
Consultancy costs
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
2024-25
£'000
Total
2023-24
£'000
458
136
594
633
0
109
109
107
68
18
86
0
44
4
48
40
4
13
17
74
13
1
14
15
15
4
19
20
15
4
19
18
617
289
906
907

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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.

Patient welfare and amenities
Staff welfare and amenities
Research
Capital contributions
Total expenditure on charitable activities		 £'000
£'000
£'000
£'000
310
17
327
306
213
12
225
351
100
6
106
33
2,564
144
2,708
2,922
Grant
Funded
Support
Costs
Total
2023-24
Total
2024-25
3,187
179
3,366
3,612

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		 288
22
310
291
149
64
213
334
99
1
100
31
1,382
1,182
2,564
2,777
Total
2024-25
£'000
Total
2023-24
£000
Unrestricted
Funds
£000s
Restricted
funds
£000s
1,918
1,269
3,187
3,433

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		 594
138
732
594
82
56
732
2024-25
£'000
2024-25
£'000		 633
138
2023-24
£'000
771
623
81
67
2023-24
£'000
771

The average number of full time equivalent employees during the year was 17 (18 in 2023-24). 1 employee had emoluments in excess of £60,000 and had employee benefits excluding employer pension costs of between £70,000 and £80,000. (2 employees in 2023-24 between £60,000 and £70,000).

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 £91,291. (202324: £83,909).

Note 6.4 - Auditor's remuneration

The External Auditor's remuneration of £15,600 inclusive of VAT (£14,700 in 2023-24 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 2024-25 (£nil in 2023-24). One donation for £3,181 was returned in 2024-25 (£9,428 in 2023-24).

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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
Note 8 - Fixed asset investments		 31 March
2025
31 March
2024
£'000
£'000
1,052
2,627
45
21
24
16
69
37
183
92
174
219
357
311

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 2024
_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 2025		 5,347
4,964
764
891
(779)
(901)
(3)
17
64
376
2024-25
£'000
2023-24
£'000
5,393
5,347

*Total Gains for 2024-25 - £61k (2023-24 - £393k Gains)

43

Note 8.2 - Analysis of investment portfolio

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 2025
Note 8.3 - Analysis of gross income from investments
Income from investment manager's portfolio
Other investments
Total investment income		 £'000
£'000
2,238
3,117
5,355
5,312
38
-
38
35
2024-25
Total
£'000
2023-24
Total
£'000
Held in UK Held outside UK
2,276
3,117
5,393
5,347
129
39
168
154
35
11
46
62
2023-24
Total
£'000
Restricted
Funds £'000
2024-25
Total
£'000
Unrestricted
Funds £'000
164
50
214
216

44

Note 8.4 - Investments

Note 8.4 - Investments
Equities
UK equities
ADMIRAL GROUP ORD GBP0.001
ASHTEAD GROUP ORD GBP0.10
BP ORD USD0.25
COMPASS GROUP PLC ORD GBP0.1105
CRODA INTERNATIONAL ORD GBP0.10609756
HALEON PLC ORD GBP0.01
LEGAL & GENERAL GROUP ORD GBP0.025
LINK FUND SOLUTIONS LTD GRESHAM HS UK MUL CAP F INC
NATIONAL GRID ORD GBP0.12431289
RELX PLC ORD GBP0.1444
RIO TINTO ORD GBP0.10
SHELL PLC ORD EUR0.07
UNILEVER PLC ORD GBP0.031111
International equities
BAILLIE GIFFORD OSEAS GTH FDS ICVC BAILLIE GIFFORD AMERICAN FUND W1 ACC
BNY MELLON GLOBAL FUNDS PLC BNY MELLON US EQUITY INCOME E GBP DIS
FIDELITY UCITS ICAV US QUALITY INCOME UCITS ETF INC USD
ISHARES CORE S&P 500 UCITS ETF USD (DIST)
MI SEL MNGRS NTH AMER EQ INSTL DIS
VANGUARD INVESTMENTS FUNDS ICVC VANGUARD US EQTY IDX INSTL PLUS GBP DIS
ALCON AG CHF0.04
ASML HOLDING NV EUR0.09
ASSA ABLOY SER'B'NPV
BLACKROCK FUND MANAGERS LTD BLACKROCK EUROPEAN DYNAMIC FD DIS
JANUS HENDERSON UK & EUROPE FUNDS JANUS HEND EUROPEAN SMLR COMPANIES I ACC
PREMIER MITON INVESTMENT FUNDS 3 PREMIER MITON EUROPEAN OPPS B ACC
SCHRODER INVESTMENT FUND COMPANY SCHRODER EUROPEAN RECOVERY Q1 GBP DIS
M&G INVESTMENT FUNDS (1) M&G JAPAN STERLING PP DIS
MAN INTERNATIONAL ICVC MAN JPN COREALPHA PROFSNL D DIS
FEDERATED HERMES INVESTMENT FDS PLC FEDERATED HERMES ASIA EX JAPAN EQ F2 GB
MORGAN STANLEY INVESTMENT FDS SICAV ASIA OPPORTUNITY J USD ACC
JPMORGAN FUNDS LTD JPM EMERGING MARKETS INCOME C2 GBP DIS
Total Equities
Bonds
UK Bonds
MAN FIXED INTEREST ICVC MAN HIGH YLD OPPS PROFESSIONAL D DIS
MAN FIXED INTEREST ICVC MAN STERLING CORP BD INSTL G DIS
UNITED KINGDOM(GOVERNMENT OF) 4.125% BDS 29/01/2027 GBP1000
UNITED KINGDOM(GOVERNMENT OF) 4.25% SNR BDS 07/06/2032 GBP1000 'REGS'
UNITED KINGDOM(GOVERNMENT OF) 4.5% GILT BDS 07/09/2034 GBP1000
International Bonds
BLUEBAY FUNDS IMPACT ALIGNED BOND G GBP HGD DIS
JUPITER UNIT TRUST MANAGERS LTD JUPITER GLOBAL STRAT BOND X GBP DIS
MAN FUNDS PLC GLOBAL INVESTMENT GRADE OPPORTUNITIES
MI SELECT MANAGERS BOND INSTL DIS
VANGUARD INVESTMENT SERIES PLC VANGUARD U S GOVT BOND IDX GBP HGD DIS
XTRACKERS II GBL INFLT LKD BD UETF 3D GBP H D
Total Bonds
Property
ABRDN EUROPEAN LOGISTICS INCOME PLC ORD GBP0.01
LONDONMETRIC PROPERTY PLC ORD GBP0.10
SCHRODER UNIT TRUSTS LTD SCHRODER GBL CITIES REAL ESTATE L DIS
Total Property
Other
BLACKROCK STRATEGIC FUNDS SICAV BLACKROCK EMG COS ABS RTN S2 GBP ACC
NINETY ONE FUNDS SERIES I DIVERSIFIED INCOME J 2 GBP DIS
TROJAN INVESTMENT FUNDS TROJAN X DIS
ISHARES PHYSICAL METALS PLC ISHARES PHYSICAL GOLD ETC USD (GBP) ACC
INTERNATIONAL PUBLIC PARTNERSHIP ORD GBP0.0001
SEQUOIA ECONOMIC INFRAST INC FD LTD NPV
JPMORGAN LIQUIDITY FUNDS SICAV GBP LIQUIDITY LVNAV E DIS
Bank of America 6Y UKX SPX 8.40% Income Autocall
FRANKLIN TEMPLETON FUNDS FTF CLEARBRIDGE GBL INFRSTR INC S GBPDIS
Total Other
Cash
Total cash
Total investments		 Value as at
31st March
2025
% of
portfolio as
at 31st
March 2025
£'000
%
39
0.7%
44
0.8%
62
1.2%
54
1.0%
24
0.4%
66
1.2%
66
1.2%
55
1.0%
37
0.7%
61
1.1%
56
1.0%
74
1.4%
55
1.0%
141
2.6%
137
2.5%
134
2.5%
431
8.0%
122
2.3%
388
7.2%
55
1.0%
48
0.9%
50
0.9%
43
0.8%
46
0.8%
44
0.8%
50
0.9%
65
1.2%
65
1.2%
171
3.2%
98
1.8%
36
0.7%
2,818
52.3%
120
2.2%
214
4.0%
51
1.0%
70
1.3%
110
2.0%
99
1.8%
171
253
4.7%
82
1.5%
47
0.9%
171
3.2%
1,391
25.8%
44
0.8%
39
0.7%
44
0.8%
127
2.4%
136
2.5%
121
2.2%
270
5.0%
161
3.0%
54
1.0%
36
0.7%
73
1.3%
63
1.2%
105
2.0%
0.0%
1,019
18.9%
38
0.7%
5,393
100%

45

Note 9 - Analysis of debtors

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		 501
280
45
21
24
16
2024-25
£'000
2023-24
£'000
570
317
183
92
174
219
2024-25
£'000
2023-24
£'000
357
311

Note 11.1 - Endowment funds

The Charity held no endowment funds during the year 2024-25 (2023-24 - Nil).

Note 11.2 - Analysis of material restricted & unrestricted funds

Restricted Funds
Childrens' Appeal
Garden
Neonatal Equipment
Spiritual Care Space
Staff lottery
Vascular Research
Vascular Unit
Others
Total restricted funds
Unrestricted Funds
Breast Care Services
Cardio Respiratory
Chemotherapy Suite
Childrens Services
Critical Care
Diabetes
General Purpose
Haematology
Kidney care
Neonatal
Oncology
Ophthalmology
Pancreatic & Hepatobiliary Research
Surgery - Breast Care Services
Oncology Glenfield
Renal Unit
Our Space
Others (46 funds)
Total unrestricted funds
Total Funds		 £'000
£'000
£'000
£'000
£'000
£'000
373
42
(51)
0
5
369
102
0
(96)
0
0
6
678
9
(792)
105
0
0
267
7
(32)
0
3
245
270
261
(251)
0
4
284
88
2
(10)
0
1
81
44
1
(5)
0
0
40
248
340
(362)
0
3
229
Gains and
losses
Balance at
31 March
2025
Balance at
1 April 2024
Incoming
Resources
Transfer
s
Resources
Expended
2,071
662
(1,599)
105
16
1,255
101
2
(12)
0
1
92
432
79
(196)
0
3
318
543
27
(570)
0
0
0
163
165
(120)
0
2
210
124
16
(18)
0
1
123
496
15
(63)
0
4
452
1,285
1,158
(789)
(105)
12
1,561
126
13
(20)
0
1
120
155
12
(85)
0
1
83
149
34
(55)
0
1
129
361
81
(95)
0
3
350
408
26
(65)
0
3
372

158
36
(22)
0
2
174

198
9
(23)
0
1
185
115
77
(79)
0
1
114
75
207
(35)
0
1
248
90
26
(34)
0
1
83
931
244
(392)
0
7
790
5,909
2,227
(2,673)
(105)
45
5,403
7,980
2,889
(4,272)
0
61
6,658

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

Childrens' Appeal Spiritual Care space Staff lottery Vascular Research Vascular Unit

Description, nature and purpose of fund

To support the development of the Childrens' Hospital. To support the development of the Spiritual Care space. Provision of a lottery with the surplus used for the benefit of staff. To support research into vascular disease and limb amputation To support the Vascular Unit

Note 12 - Contingencies

The charity has been notified of legacies where entitlement exists but the income has not been recognised in these financial statements. Recognition will take place when receipt is judged to be virtually certain and the value can be measured reliably. (2023-24 - £380k).

Estate/ Donor Nature of entitlement Estimated value(£) Status/ Reason not recognised
Batchelor D Residuary legacy Value Unknown Estate not yet finalised
Boston B Residuary legacy Value Unknown Estate not yet finalised
Carter A Residuary legacy Value Unknown Estate not yet finalised
Copson R Residuary legacy Value Unknown Estate not yet finalised
Cresswell B Residuary legacy Value Unknown Estate not yet finalised
Gill N Pecuniary Value Unknown Estate not yet finalised
Green I Pecuniary Value Unknown Notification received, value not quantifiab
Harvey M Residuary legacy Value Unknown Estate not yet finalised
Lawton D Residuary legacy 220,000.00 Estate not yet finalised
Parkins M Residuary legacy Value Unknown Estate not yet finalised
Preston M Residuary legacy Value Unknown Estate not yet finalised
Richardson M Residuary legacy Value Unknown Estate not yet finalised
Righton J Residuary legacy Value Unknown Estate not yet finalised
Somaiya D Pecuniary 10,000 Estate not yet finalised
WrightB Residuarylegacy Value Unknown Estatenot yetfinalised

Note 13 - Commitments, liabilities and provisions

The Charity has the following commitments as at the 31 March 2025:

Note 13 - Commitments, liabilities and provisions
The Charity has the following commitments as at the 31 March 2025:
Charitable projects
Total		 1,476
1,476
2024-25
£'000		 1,981
2023-24
£'000
1,981

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.

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		 1,981
2,966
(3,138)
(333)
1,476
2024-25
£'000		 1,808
4,186
(3,361)
(652)
2023-24
£'000
1,981

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 2024-25 (2023-24 - 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

4 / s rie q | Ss _— aid LEICESTER HOSPITALS CHARITY

: mit YOUR EXTERNAL AUDIT FINDINGS + \ , : et 7 ; 7 ‘ i Se fe pak ae ae

LEICESTER HOSPITAL CHARITY YOUR EXTERNAL AUDIT FINDINGS

CONTENTS PAGE
EXECUTIVE SUMMARY 01
FINANCIAL OVERVIEW 02
THE DETAIL:
- AUDIT STATUS 03
- KEY AUDIT RISKS AND FINDINGS 04 – 06
- AUDIT ADJUSTMENTS AND UNADJUSTED DIFFERENCES 07
- INTERNAL CONTROL IMPROVEMENTS 08 - 09

DISCLAIMER

Your external audit findings document is prepared for the confidential use of your charity and forms part of our ongoing communications under International Standard on Auditing (UK) 260 - communication of audit matters with those charged with governance. The findings highlight the key matters and issues arising from our audit report on the charity’s financial statements for the year ended 31 March 2025.

The contents of our findings have been discussed with management and their comments and responses have been included where applicable. The matters set out in our findings are those that came to our attention during the course of our normal audit work, which was designed to enable us to form our opinion on the financial statements. Our work may not necessarily disclose all errors or irregularities and should not be relied upon to do so.

The findings have been prepared for the sole use of the trustees and management of your charity. Our findings may not, without our express written permission, be relied upon by your charity for any other purpose whatsoever, be referred to in whole or in part in any other external document or made available (in whole or in part) or communicated to any other party. Cooper Parry Group Limited neither owes nor accepts any duty to any other party who may receive this report and specifically disclaims any liability for any loss, damage or expense of whatsoever nature, which is caused by their reliance on these findings.

YOUR EXTERNAL AUDIT FINDINGS EXECUTIVE SUMMARY

DEAR TRUSTEES

KEY AUDIT RISK FINDINGS

Welcome to your external audit findings for the year ended 31 March 2025.

This document sets out the key matters and issues arising from our audit report on your charity’s financial statements for the year ended 31 March 2025. More detail on each area can be found in the rest of the findings report.

AUDIT ASSURANCE STATUS

KEY RISK FINDINGS ~~LO~~

Income recognition No issues identified Management override No issues identified Fund accounting No issues identified Going concern No issues identified Related party transactions No issues identified

REPORT UNMODIFIED ~~en~~

Opinion on the audit report in the financial statements

OUTSTANDING INFORMATION

OTHER SIGNIFICANT FINDINGS

There were no other significant audit findings identified during the audit fieldwork.

AUDIT ADJUSTMENTS

 Final trustees’ report CAP £000 ~~aee~~ INTERNAL CONTROL IMPROVEMENTS Pre-audit operating surplus / (1,614) RISK CURRENT YR PRIOR YRS (deficit) - - Late management adjustments 292 ~~Oo~~ - Audit adjustments - - NET MOVEMENT (1,322) - 1 ~~> oo~~ UNADJUSTED AUDIT DIFFERENCES

INTERNAL CONTROL IMPROVEMENTS

RISK CURRENT YR PRIOR YRS - - ~~Oo~~

There were no unadjusted audit differences identified during the audit.

01

YOUR EXTERNAL AUDIT FINDINGS FINANCIAL OVERVIEW

FUNDS UNRES’D
FUNDS
£000		 REST’D
FUNDS
£000		 REVENUE
FUNDS
£000
Income 2,227 662 2,889
Expenditure (2,673) (1,599) (4,272)
SURPLUS / DEFICIT) (446) (937) (1,383)
Investment gains / losses 45 16 61
Fund transfers (105) 105 -
NET MOVEMENT (506) (816) (1,322)
Funds brought forward 5,909 2,071 7,980
FUNDS CARRY FWD 5,403 1,255 6,658

UNPICKING THE RESULTS

The table above summarises the overall financial results of the charity for the year ended 31 March 2025 and how these are reported in the financial statements.

The overall net operating revenue deficit for the year is £1,383k , which is made up of a deficit of £446k on unrestricted funds and a deficit of £937k on restricted funds.

The overall operating reserves at 31 March 2025 are £6,658k . These reserves are made up of £5,403k of unrestricted funds and £1,255k of restricted funds.

YOUR EXTERNAL AUDIT FINDINGS AUDIT STATUS

OUR AUDIT APPROACH

INDEPENDENCE

There were no changes to our audit approach as previously set out to you in our external audit plan dated 3[rd] June 2025.

ACCOUNTING POLICIES AND DISCLOSURES

We have reviewed the accounting policies adopted by the charity and found these to be appropriate for the charity and in line with the sector overall, as well as having been applied consistently throughout the year.

There were also no changes in the charity’s accounting policies compared to the previous year.

We have also reviewed the disclosures included in the charity’s financial statements and are satisfied these are consistent with the applicable requirements of the Charities SORP.

FRAUD

We have complied with the Financial Reporting Council’s Ethical Standard for Auditors and all threats to our independence, as set out to you in our external audit plan dated June 2025, have been properly addressed through appropriate safeguards.

No additional facts or matters have arisen during the course of the audit that we want to raise with you, and we confirm that we are independent and able to express an objective opinion on the financial statements.

OUR AUDIT REPORTS

Our audit fieldwork is complete and we have had an audit completion meeting with Julie Woolley, Simmi Sethi and Karanjit Chungh on 19 September where we reviewed the draft financial statements and discussed our audit findings including the contents of this report.

Subject to the clearance of the outstanding matters outlined on this page, we anticipate issuing an unmodified audit report

We have previously discussed the risk of fraud with management. Our audit testing is not intended to identify any instances of fraud of a non-material nature and should not be relied upon for this purpose.

OUTSTANDING MATTERS

Before issuing our audit report, we still require the following:

YOUR EXTERNAL AUDIT FINDINGS KEY AUDIT RISKS AND FINDINGS

As part of the audit planning process, we sought to minimise the risk of material misstatement occurring in the financial statements and remaining undetected at the conclusion of our audit work. To do this, we evaluated the inherent risk of misstatements arising, the risk that such misstatement will not be detected or corrected through the internal controls in place and designed audit procedures which will most efficiently and effectively reduce the risk of material misstatement remaining undetected to an acceptable level. This risk assessment process is designed to ensure that we focus our audit work on the areas of higher assessed risk of material misstatement to the financial statements.

Our audit focus was drawn to the following key risk areas and our initial assessments at the planning stage and the findings from our audit work on these areas is summarised below:

IMPACT OF
RISK RISK
GRADING		 FRAUD
RISK		 SIGNIFICANT
JUDGEMENTS /		 AUDIT FINDINGS
ESTIMATES
INCOME SIGNIFICANT YES MEDIUM NO ISSUES IDENTIFIED
RECOGNITION
MANAGEMENT SIGNIFICANT YES HIGH NO ISSUES IDENTIFIED
OVERRIDE
FUND HIGHER YES LOW NO ISSUES IDENTIFIED
ACCOUNTING ASSESSED RISK
GOING HIGHER NO MEDIUM NO ISSUES IDENTIFIED
CONCERN ASSESSED RISK
RELATED PARTY HIGHER YES LOW NO ISSUES IDENTIFIED
TRANSACTIONS ASSESSED RISK

For each of the above key risk areas, more information on the audit work undertaken and our overall audit findings is detailed on the following pages.

YOUR EXTERNAL AUDIT FINDINGS KEY AUDIT RISKS AND FINDINGS

RISK AUDIT WORK UNDERTAKEN FINDINGS
INCOME
RECOGNITION
Is income recognised
in line with relevant
standards and
guidance?		 We reviewed the accounting policies adopted,
considering the guidance and recognition criteria
set out in Charities SORP to ensure these are
appropriate.
We reviewed the nature of all significant income
streams and understood key fluctuations in the
year.
We performed substantive testing on all key
income streams, reviewing source documentation
to ensure the income recognition criteria has been
satisfied.
We reviewed donation and legacy income
through to supporting documentation to ensure
income is recognised once the income
recognition criteria has been satisfied.
We reviewed other income types to determine
whether any are considered ‘trading’ income.
We performed cut off testing to ensure all
significant income streams are complete.		 No matters came to light during
our audit work that need to be
brought to your attention.
We have concluded that income
is not materially misstated in the
financial statements.
MANAGEMENT
OVERRIDE AND
BIAS
Is there is any
evidence of
misstatement in the
financial statements
due to management
bias?		 We obtained a report for all transactions posted
to the accounting system and used data analytics
to review these, including testing the rationale for
a sample of any unusual transactions and
journals identified.
We reviewed areas of significant accounting
estimation including the basis of any
management assumptions.
We discussed the basis and business rationale
for any significant non-routine transactions which
come to our attention during the course of our
audit.		 No matters came to light during
our audit work that need to be
brought to your attention.
We did not identify any evidence
of management override or bias
in your accounting records or
financial statements.
FUND
ACCOUNTING
Is restricted income
correctly identified and
expended?		 We reviewed material grant, donation and legacy
income streams to ensure any relevant
restrictions are identified and correlate with our
income testing.
We ensured that expenditure of restricted income
streams is in line with the terms of funding,
including the basis of any allocated support costs.
We ensured any designated funds have been
appropriately designed by trustees and that
expenditure has been appropriately allocated.
W ensured appropriate disclosures are included
in the financial statements relating to any
restricted and / or designated funds.		 No matters came to light during
our audit work that need to be
brought to your attention.
We have concluded that
expenditure is allocated
appropriately in the financial
statements and that the balances
of funds as reported in the
financial statements are not
materially misstated.

YOUR EXTERNAL AUDIT FINDINGS KEY AUDIT RISKS AND FINDINGS

RISK AUDIT WORK UNDERTAKEN FINDINGS
GOING
CONCERN
Is the charity able to
continue operating for
at least 12 months from
the date of approval of
the financial
statements?		 We reviewed the forecasts and cashflow
information and challenge the key assumptions
used in these.
We reviewed managements statement from that
supports and underpins the forecasts provided,
covering any key risks and assumptions on which
they rely.
We ensured appropriate disclosures are included
in the financial statements relating to the charity’s
going concern position and going concern
assessment.		 No matters came to light during
our audit work that need to be
brought to your attention.
We agree with the trustee’s
conclusion that the charity is a
going concern and we are
satisfied with the disclosures
included in the financial
statements.
RELATED PARTY
TRANSACTIONS
Are all related party
transactions identified,
approved and
disclosed in the
financial statements?		 Reviewed the registers of interest to ensure
these are complete and in line with best practice.
Tested all related party transactions to ensure
they have been undertaken in line with the
charity’s policiesand are appropriately disclosed
in the financial statements, including any
trustees’ remuneration and any other
transactions with trustees or key management
personnel.		 No matters came to light during
our audit work that need to be
brought to your attention.
We did not identify any additional
related parties or transactions
that require disclosure in the
financial statements.

YOUR EXTERNAL AUDIT FINDINGS AUDIT ADJUSTMENTS

From our audit work we identified certain proposed adjustments in the financial statements. These have been discussed with Julie Woolley and have been adjusted for in the financial statements as follows:

REVENUE
£000
Surplus / (deficit) per pre-audit trial balance (1,614)
Management adjustments for:
Additional accrued legacy income 292

UNADJUSTED DIFFERENCES

There were no unadjusted differences identified from our completed audit procedures.

YOUR EXTERNAL AUDIT FINDINGS INTERNAL CONTROL IMPROVEMENTS

The charity’s management are responsible for the identification, assessment and monitoring of risk and for developing, operating and monitoring the systems of internal control within the charity and for providing assurance to the board of trustees that it has done so.

Our audit work included consideration of internal controls relevant to the preparation of the financial statements in order to design audit procedures that are appropriate for the purposes of our audit engagement, but not for the purpose of expressing an opinion on the effectiveness of internal control. Our audit engagement is, therefore, not designed to identify all internal control weaknesses.

The matters reported below are limited to those areas identified during the audit engagement where internal control improvements are recommended, including any improvements recommended in prior years.

The detailed internal control improvement recommendations, which are set out on the following pages, have been graded based our assessment of their potential risk to the charity according to the following grading system.

RISK
~~a~~		 DESCRIPTION CURRENT
YEAR		 PRIOR
YEAR
~~©~~ HIGH RISK: The improvements recommended are so
fundamental to the system of internal control and
governance that action should be taken immediately to
minimise the risk of material misstatement or governance
failings.
~~©~~		 - -
~~©~~ MEDIUM RISK: The improvements recommended have
an important effect on the system of internal control and
governance such that a lack of action could lead to a
material misstatement or governance failing.
~~©~~		 - -
~~@~~ LOW RISK: The improvements recommended would
improve the system of internal control and governance
generally in line with good practice, but are unlikely to lead
to a material misstatement or governance failing
~~@~~		 - 1
~~@~~ RESOLVED: The improvements recommended in the
previous year which have now been resolved.
~~@~~		 N/A 1

08

YOUR EXTERNAL AUDIT FINDINGS INTERNAL CONTROL IMPROVEMENTS

PRIOR YEAR UPDATES

RISK
~~ee~~		 CONTROL
WEAKNESS
~~ee~~		 IMPROVEMENT
RECOMMENDATIONS
~~ee~~		 MANAGEMENT
RESPONSES AND
CURRENT YEAR UPDATE
~~ee~~ LEGACY RECOGNITION
During our testing on legacies we
identified a material legacy which
met the recognition criteria but had
not been recognised in the year.
~~ee~~		 We would recommend that
management review the systems
and processes around legacy
recognition and ensure that
legacies are recognised when they
meet the recognition criteria.
~~ee~~		 A legacy database is being
developed to include a financial
tab that will ensure the
transparency of legacy income
into the Charity . Prior to year end
a meeting will be held between
finance the charity operations
manager to review legacy terms to
determine the need the accrue
income; followed by meeting
before the accounts are finalised
to ensure all changes since year
end are captured
2025 YEAR UPDATE
We did not identify any additional
legacies which met the recognition
criteria which hadn’t already been
identified by management and
therefore this point is considered
to be resolved.
@ STAFF CONTRACTS
During our staff costs transaction
testing we identified 1 staff
member out of our sample of 5 for
whom an employment contract
could not be obtained.		 We would recommend that
employment contracts are retained
for all staff members.		 This relates to a long standing
employee, for new starters
contracts are sent to the finance
team for review
2024 and 2025 YEAR
UPDATE
The same issue is identified in the
current year. We would
recommend that a review of
contracts is undertaken and for
any employees who don’t have
signed contracts these are
reissued. It is noted however, that
employees are not directly
employed by the charity but for the
trust and therefore the risk of not
holding a signed contract falls on
the trust but as the employees
work for the charity it is
recommended that the charity has
a copy of the contracts to review
employment terms and conditions.
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