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2021-03-31-accounts

WALSALL HEALTHCARE NHS TRUST GENERAL CHARITABLE FUND

CHARITY NUMBER 1057416 (Registered in England & Wales)

TRUSTEES ANNUAL REPORT 2020/2021

TRUSTEES INCORPORATED AS A BODY CORPORATE UNDER SECTION 11 OF THE NATIONAL HEALTH SERVICES AND COMMUNITY CARE ACT 1990.

Principal Address MANOR HOSPITAL MOAT ROAD WALSALL WEST MIDLANDS WS2 9PS

Bankers Independent Examiners NATIONAL WESTMINSTER BANK Mark Surridge FCCA PLC MAZARS LLP 33 Park Street Chartered Accountants & Walsall Statutory Auditor West Midlands 2 Chamberlain Square WS1 1ER Birmingham West Midlands B3 3AX

Investment Managers WH IRELAND LIMITED 24 Martin Lane London EC4R 0DR

The Walsall Healthcare NHS Trust General Charitable Fund is governed by a model declaration of trust for a NHS charity. The objectives of the charity are for any charitable purpose or purposes relating to the National Health Service wholly or mainly for the service provided by the Walsall Healthcare NHS Trust.

The charity is registered with the Charity Commission who have declared that, under the provisions of section 96 of the Charities Act 2011, the charity and the following charities shall be treated as a single charity for the purposes of Sections 3 and 4 (Registration) of the Charities Act 2011 and for the purposes of Part IV of that Act (Accounting):

  1. Corporate including General and Educational Fund

  2. Medical Specialties Fund

  3. Surgical Specialties Fund

  4. Women’s Children’s and Community Services Fund 5. Specialist Palliative Care Fund

The annual accounts comply with the current statutory requirements as notified by the Charity Commissioners and they are in line with the requirements detailed in the Charities Governing Document and the Statement of Recommended Practice (SORP) Financial Reporting Standard (FRS) 102 effective from the 1[st ] January 2019.

TRUSTEE

The Walsall Healthcare NHS Trust Board as the Corporate Trustee of the Charitable Funds is governed by the law applicable to Trusts, principally the Trustee Act 2000 and also the law applicable to Charities which is governed by the Charities Act 2011.

As Corporate Trustee, the Trust Board is responsible for the overall management of Charitable Funds.

The Trust Board has devolved responsibility for the on-going management of the funds to the Charitable Funds Committee; the Committee membership comprised:

Mr P Assinder Non-Executive Director
Mr S Heer Non-Executive Director (until 14thDecember 2020)
Mr Russell Caldicott Director of Finance
Mrs K Dunderdale Director of Nursing (until June meeting)
Ms A Riley Director of Nursing (from June meeting)

Members are appointed to the Charitable Funds Committee by election of the presiding Trust Board members.

The Charitable Funds Committee review financial performance of the investment portfolio, monitor and approve expenditure and the balances held on funds, to ensure the objectives of the Charity are satisfied and ultimately that of the general public.

Reserves Policy

The trustees have established a reserves policy as part of their plans to provide long term support to the Trust for research, education, new equipment, staff and patient benefits and building work.

The trustees intend that funds are spent within a reasonable period of receipt and therefore plan to maintain reserves sufficient to cover future expenditure equivalent to an average of 6 months. The trustees have previously set a contingency reserve total of £500,000 that is periodically reviewed and revised accordingly in relation to the levels of committed expenditure.

Income & Expenditure

During the year the Charity has shown some recovery of the investment losses incurred in the 2019/20 financial year as demonstrated by the receipt of investment gains totalling £256,000 in 2020/21. The net total of donations and income from investments was an increase of £699,000 (including revaluation and disposal of investments) with total expenditure at £139,000.

Donations are received from a wide variety of sources, including bequests. The League of Friends donated £17,454 for the purchase of one Urodynamic Machine. The total value of donations and legacies received in the year was £430,000; many of these were received as a way of expressing gratitude for the care provided to individuals or their relatives.

The Charity benefited from specific external fund raising initiatives regarding COVID19 e.g. NHS Charities “Captain Tom” nationwide fundraising.

During the financial year £7,320 was also received in relation to the Staff Lottery which is an initiative of the Well Wishers (associated trading name of Walsall Healthcare NHS Trust General Charitable Fund).

The charity ensures that donations received are used in accordance with the wishes of the donor i.e. to purchase medical equipment, provide amenities to patients and staff and finance limited education and medical research.

As an example of the utilisation of the donations during the financial year the following items were purchased:

Urodynamic Machine £17,454
Wheelchairs £10,794
Long Service Vouchers £7,966

The Charity has the following commitments for the forthcoming year:

Chapel Refurbishment £50,000
FundraisingHub £49,500
Scholarship £10,000

During 2020/21 the value of investments within the portfolio increased by £256,000, representing a recovery of 58% of the losses made in 2019/20.

Investments are not made in industries whose aims and objectives are contrary to those of the NHS, e.g. Tobacco Industries, Breweries. In 2020/21 the recovery of the investments and restructure of the portfolio involved the addition of pharmaceutical companies and investment in a European Investment Fund.

The value of the Portfolio has fluctuated considerably in the last few years as a consequence of a reduction in the level of donations, increased levels of expenditure and commitments, and the economic uncertainty created by Brexit and the most recent global pandemic (COVID-19). The investment manager’s growth strategy was affected by the significant loss in value of investments during 2019/20 and the Trust’s cash requirement to settle creditor commitments. The investments have recovered whereby a significant number (40%) that had fallen below their original investment cost are now on par if not exceeding the initial investment.

The Corporate Trustees have considered exposure to falls in the value of investments as the major risk to which the Charity is exposed. In January 2021, the Charitable Funds Committee initiated the appointment of an alternative investment broker who will manage the portfolio of investments for 2021/22 upon completion the transfer documentation.

There is an expectation of an upturn in the valuation of the funds as the economic position improves. The Charity is expanding its network and has received national funds during 2020/21 to further sustain the viability of the Charity.

All donations will be gratefully received and will be used to enhance services over and above that provided by the NHS for both patients and staff.

They should be sent to:

The General Office Walsall Healthcare NHS Trust Manor Hospital Moat Road Walsall WS2 9PS

Donations will be paid into the Walsall Healthcare NHS Trust General Charitable account which is the bank account for the charity.

The following is an extract of the accounts and has been compiled to assist readers in understanding the Charity's financial affairs.

STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 MARCH 2021

Income and Endowments from:
Donations and legacies
Other trading activities
Investment Income
Other Income
Total Income
Expenditure on:
Raising funds
Charitable Activities
Total Expenditure
Net Incoming/(Outgoing) Resources
Transfer between funds
Gains/(Losses) on revaluation and
investments
disposal of
Net movement in funds
Fund balances brought forward at 31 March 2020
Fund balances carried forward at 31 March 2021		 2020/21
£000
Unrestricted
125
7
4
0
136
3
90
93
43
0
219
262
294
556		 2020/21
£000
Restricted
305
-
2
0
307
2
44
46
261
0
37
298
76
374		 2020/21
£000
Total
430
7
6
0
443
5
134
139
304
0
256
560
370
930		 2019/20
£000
Total
180
8
43
5
236
36
229
265
(29)
0
(440)
(469)
839
370

BALANCE SHEET AS AT 31 MARCH 2021

Fixed Assets:
Investments
Total Fixed Assets
Current Assets:
Debtors
Investments
Cash at bank and in hand
Total Current Assets
Liabilities:
Creditors due within one year
Total Net Assets
Total Funds of the Charity
Restricted income funds
Unrestricted funds		 2020/21
£000
631
631
3
142
300
445
(146)
930
374
556
930		 2019/20
£000
455
455
7
63
295
365
(450)
370
76
294
370

Approved on behalf of the Trustee

MR RUSSELL CALDICOTT DIRECTOR OF FINANCE

WALSALL HEALTHCARE NHS TRUST

CHARITABLE TRUST ACCOUNT 2020/2021

Statement of trustees' responsibilities

The trustees are responsible for:

The trustees are required under the Charities Act 2011 and the National Health Service Act 1977 to prepare accounts for each financial year. The Secretary of State, with the approval of the Treasury, directs that these accounts give a true and fair view of the financial position of the funds held on trust, in accordance with the Charities Act 2011. In preparing those accounts, the trustees are required to:

The trustees confirm that they have met the responsibilities set out above and complied with the requirements for preparing the accounts. The financial statements set out on pages 5 and 6 attached have been compiled from and are in accordance with the financial records maintained by the trustees.

By Order of the Trustees Signed:

Prof Steve Field CBE, Chair

Russell Caldicott, Trustee

Independent Examiner’s Report to the Trustees of Walsall Healthcare NHS Trust General Charitable Fund

I report on the financial statements of Walsall Healthcare NHS Trust General Charitable Fund for the year ended 31 March 2021, which are set out on pages 1 to 8.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements as carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(b) of the 2011 Act.

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

Since the charity’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by being a qualified member of the Institute of the Association of Chartered Certified Accountants (ACCA) which is one of the listed bodies.

In connection with my examination, which is complete, no matters have come to my attention which give me reasonable cause to believe that in any material respect:

10/08

I have no concerns and have come across no other matters in connection with the examination to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Mark Surridge FCCA For and on behalf of Mazars LLP Chartered Accountants and Statutory Auditor First Floor 2 Chamberlain Square Birmingham B3 3AX

Jan 31, 2022

10/08

WALSALL HEALTHCARE NHS TRUST

FUNDS HELD ON TRUST ANNUAL ACCOUNTS 2020-21

FOREWORD

These accounts have been prepared by the Trustees under section 98(2) of the National Health Service Act 1977 (as amended 2006) in the forms which the Secretary of State has, with the approval of Treasury, directed.

STATUTORY BACKGROUND

The Trustees have been appointed under s11 of the NHS and Community Care Act 1990.

The Walsall Healthcare NHS Trust General Charitable Funds held on trust are registered with the Charity Commission and include funds in respect of the Manor Hospital.

MAIN PURPOSE OF THE FUNDS HELD ON TRUST

The main purpose of the charitable funds held on trust is to apply income for any charitable purpose relating to the National Health Service wholly or mainly for the services provided by the Walsall Healthcare NHS Trust.

Foreword

UNAUDITED - CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2020/21

Statement of Financial Activities for the year ended 31 March 2021

Notes
Income and Endowments from:
Donations and legacies
Other trading activities
2.1
Investment income
7.3
Other
Total
Expenditure on:
Raising funds
4.1
Charitable Activities
4.2
Total
Net income/(expenditure)
Transfer between funds
Other recognised gains/(losses):
Gains/(losses) on revaluation and disposal of investment assets
Net movement in funds
5
Reconciliation of funds:
Fund balances brought forward at 31 March 2020
Total fund balances carried forward at 31 March 2021		 Unrestricted
Funds
£000
125
7
4
0

136
3
90

93
43
0
219
262
294
~~556~~		 Restricted
Funds
£000
305
0
2
0

307
2
44

46
261
0
37
298
76
~~374~~		 Endowment
Funds
£000
0
0
0
0

0
0
0

0
0
0
0
0
0
~~0~~		 2020-21
Total
Funds
£000
430
7
6
0

443
5
134

139
304
0
256
560
370
~~930~~		 2019-20
Tota
l
Funds
£000
180
8
43
5

236
36
229

265
(29)
0
(440)
(469)
~~839~~
370

All activities relate to continuing operations. The notes at pages 3 to 8 form part of this account.

Page 1

UNAUDITED - CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2020/21

Balance Sheet as at 31 March 2021

Balance Sheet as at 31 March 2021
Notes
Fixed assets:
Investments
7.1
Total fixed assets
Current assets:
Debtors
8
Investments
7.2
Cash at bank and in hand
Total current assets
Liabilities:
Creditors: Amounts falling due
within one year
9
Net current(liabilities)
Total assets less current liabilities
Total net assets
The funds of the charity:
Restricted income funds
10
Unrestricted funds
10.1
Total unrestricted funds
Total charity funds		 £000
631
631
3
142

300

445
(146)		 Total at
31 March 2020
£000
455
455
7
63

295

365
(450)

299
(85)

930
370
930 370
374
556		 76
294
556 294
930 370

The notes at pages 3 to 8 form part of this account.

Signed:

Date: 31/01/2022

Page 2

UNAUDITED - CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2020/21

NOTES TO THE ACCOUNTS

1. Accounting Policies

1.1 Accounting Convention

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) - (Charities SORP (FRS102)), Section 1A of the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. There were no material changes as a result of transition to the Charities SORP 2019 and the updated FRS 102 from 1 April 2019.

b) Preparation of the accounts on a going concern basis

These accounts have been prepared on a going concern basis. The trustees have been regularly updated on the financial activities of the charity during the financial year and are not aware of any material uncertainties that will affect the charity continuing in operational exsitence for the foreseeable future. For this reason the trustees continue to adopt the going concern basis in preparing the accounts.

The economic uncertainty created by Brexit, and the recent global pandemic (COVID-19) resulted in a significant loss in value of investments during 2019/20 many of which dropped below their original investment cost. The 2020/21 financial year saw a significant recovery but investments have not recovered to their pre 2019/20 value.

The net assets of the Charity at the time of reporting are more than sufficient to cover the average of 6 months spend. There is an expectation of a continued upturn in the valuation of the funds as the markets recover and alternative investments are purchased. Donations from individuals were substantially lower during 2020/21, however the Charity benefitted substantially from "Captain Tom" donations and is expanding its network of possible income streams to further sustain the long-term viability of the Charity.

1.2

Income Recognition

i. Entitlement - arises when a particular resource is receivable or the charity's right becomes legally enforceable;

ii. Probable - when there is a reasonable certainty that the incoming resources will be received: and

iii. Measurement - when the monetary value of the income and related transaction costs can be measured with sufficient reliability.

b. Gifts in kind:

i. Assets given for distribution by the funds are included in the Statement of Financial Activities only when distributed.

ii. Assets given for use by the funds (e.g. property for its own occupation) are included in the Statement of Financial Activities as incoming resources when receivable. iii. Gifts made in kind but on trust for conversion into cash and subsequent application by the funds are included in the accounting period in which the gift is sold.

In all cases the amount at which gifts in kind are brought into account is either a reasonable estimate of their value to the funds or the amount actually realised. The basis of the valuation is disclosed in the annual report.

c. Intangible income Intangible income (e.g. the provision of free accommodation) is included in the accounts with an equivalent amount in outgoing resources, if there is a financial cost borne by another party. The value placed on such income is the financial cost of the third party providing the resources.

d. Legacies

Legacies are accounted for as incoming resources once the receipt of the legacy becomes reasonably certain. This will be once confirmation has been received from the representatives of the estates that payment of the legacy will be made or property transferred and once all conditions attached to the legacy have been fulfilled.

1.3 Expenditure

The funds held on trust accounts are prepared in accordance with the accruals concept. All expenditure and the related liability is recognised once there is a legal or constructive obligation to make a payment to a third party.

a. Cost of raising funds

The cost of generating funds are the costs associated with generating income for the funds held on trust.

b. Grants payable

Grants payable are payments, made to third parties (including NHS bodies) in the furtherance of the funds held on trust's charitable objectives to relieve those who are sick. They are accounted for on an accruals basis where the conditions for their payment have been met or where a third party has a reasonable expectation that they will receive the grant. This includes grants paid to NHS Bodies.

c. Governance costs

These are accounted for on an accruals basis and are recharges of appropriate proportions of the costs from Walsall Healthcare NHS Trust.

Page 3

UNAUDITED - CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2020/21

1.4 Structure of funds

Where there is a legal restriction on the purpose to which a fund may be used, the fund is classified in the accounts as a restricted fund. Funds where the capital is held to generate income for charitable purposes and cannot itself be spent are accounted for as endowment funds. Other funds are classified as unrestricted funds. Funds which are not legally restricted but which the Trustees have chosen to earmark for set purposes are classified funds. The major funds held within these categories are disclosed in note 1.10.

1.5 Investment Fixed Assets

Investment fixed assets are shown at market value.

1.6 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 date of purchase if later). Unrealised gains and losses are calculated as the difference between market value at the year end and opening market value (or date of purchase if later).

1.7 Pensions Contributions

The charity does not directly employ individuals, however the costs of the fundraiser have been recharged and therefore pension contributions are indirectly paid by way of this salary recharge.

1.8 Trustees

All new trustees are required to follow an induction programme approved by the Board and they, as well as existing board members, can access external training courses, seminars and workshops.

1.9 Prior Year Adjustments

There has been no change to the accounts of prior years.

1.10 Pooling Scheme

An official pooling scheme is operated for investments relating to the following funds:

Corporate including General and Education Funds Medical Specialties Fund Surgical Specialties Fund Women's, Children's and Community Services Fund Specialist Palliative Care

These are further sub-divided into individual funds totalling more than 40 funds relating more specifically to donor wishes.

The Scheme was registered with the Charity Commission on 17 March 1998.

1.11 Statement of cash flows exemption A statement of Cash Flows has not been produced as the charity is within the small charity thresholds.

1.12 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.13 Judgments in applying accounting policies and key sources of estimation uncertainty The charity makes estimates and assumptions concerning the future. The estimates and assumptions have no material impact on the carrying amounts of assets and liabilities within the accounts.

Page 4

UNAUDITED - CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2020/21

2.1 Details of Other income

During the financial year £7,320 was received in relation to the Staff Lottery which was the initiative of Well Wishers (associated trading name of Walsall Healthcare NHS Trust General Charitable Fund).

2.2 Material Grants received by category

3.1 Details of resources expended - grants There were no material grants paid during the year.

3.2 Grants made to institutions No grants were made to institutions during the year.

3.3 Grants paid to individuals No grants were paid to individuals during the year.

4 Details of Expenditure

4.1 Analysis of Raising Funds Costs

Fundraising Costs

Investment managers fee

Unrestricted
Funds
£000
0
3

3		 Restricted
Funds
£000
0
2

2		 Endowment
Funds
£000
0
0

0		 Total
2021
Funds
£000
0
5

5		 Total
2020
Funds
£000
29
7

36

The Charity does not directly employ staff but in previous years the Fundraising Manager's salary costs have been recharged to the Charity. Walsall Healthcare NHS Trust agreed to waive the salary costs recharge in 2020/21 in light of the impact of the COVID-19 Pandemic.

4.2 Details of Expenditure - Charitable Activities

Other:
Patients welfare and amenities
Staff welfare and amenities
Miscellaneous		 Funds
£000
22
62

4

88		 Restricted
Funds
£000
44
0

0

44		 Endowment
Funds
£000
0
0

0

0		 Total
2021
Funds
£000
66
62

4

132		 Total
2020
Funds
£000
160
38

4

202

Analysis of Support & Governance Costs included within Charitable Activities

Management
Finance Administration
Finance Administration Software
Audit fee		 Unrestricted
Funds
£000
0
0
1

1

2		 Restricted
Funds
£000
0
0
0

0

0		 Endowment
Funds
£000
0
0
0

0

0		 Total
2021
Funds
£000
0
0
1

1

2		 Total
2020
Funds
£000
6
12
1

8

27

Walsall Healthcare NHS Trust agreed to waive the administration and salary costs recharge in 2020/21 in light of the impact of the COVID-19 Pandemic.

Changes in Resources Available for Charity Use

Net movement in funds Unrestricted
Funds
£000
262		 Restricted
Funds
£000

298		 Endowment
Funds
£000

0		 Total
2021
Funds
£000

560		 Total
2020
Funds
£000

(469)

5

Page 5

UNAUDITED - CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2020/21

6 Fixed Assets

The charity does not hold any tangible fixed assets.

7 Analysis of Fixed Investment Assets

7.1 Fixed Asset Investments

Market value at 31 March 2020 Less: Disposals at carrying value Add: Acquisitions at cost Net gain / (loss) on revaluation Market value at 31 March 2021 Historic cost at 31 March 2021 Market Value at 31 March 2021 Fixed Interest UK Equities & Funds Overseas Equities and Funds

Market Value at 31 March 2021

Total
2020
£000
918
(256)
233
(440)
455
929
31 March 2021
£000
36
504
91
631		 31 March 2020
£000
49
378
28
455

At 31 March 2021 the majority of the holdings were valued above 5% of the total value of the investment portfolio.

Investment MARKET
VALUE
£22,740
£62,324
£15,308
£37,184
£39,660
£37,152
£38,448
£39,617
£68,600
£57,960
£36,159
£36,710
£18,486
£37,908
£36,306
£7,000
£39,658
£631,220		 %
Anglo American
Astrazeneca
Aviva Ord
Barclays Plc
British Airways Ord (Intl Cons)
Bt Group
Carnival Plc
Easyjet Ord
Fidelity European
Glaxosmithkline
Lloyds Banking Group
M&G (Prudential)
Prudential
Rolls Royce
Royal Bank Of Scotland
Schroders Plc
Tui		 3.60%
9.87%
2.43%
5.89%
6.28%
5.89%
6.09%
6.28%
10.87%
9.18%
5.73%
5.82%
2.93%
6.01%
5.75%
1.11%
6.28%
Total 100.00%

7.2

7.3

Cash held as part of investment portfolio
Total investment income
Investments listed on Stock Exchange		 Held
in UK
£000
142
142		 Held
outside UK
£000
0
0		 2020-21
Total
£000
142
142		 2020-21
Total
£000
142
142		 2019-20
Total
£000
63
63
Held
in UK
£000
6
6		 Held
outside UK
£000
0
0		 2020-21
Total
£000
6
6		 2019-20
Total
£000
43
43

Page 6

UNAUDITED - CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2020/21

8 Analysis of Debtors

9

Accrued income
Analysis of Creditors
Trade creditors
Accruals		 31 March 2021
£000

3
31 March 2021
£000
137

9

146

10 Details of Restricted Funds

Donations from League of Friends were included within restricted income of £17,454 as explained below. Donations of £34,706 were received for Specialist Palliative Care services (including a part year effect of donations to Goscote Hospice), and net income from fundraising (including "Capitain Tom" donations) totalled £253,478.

10.1 League of Friends Donations

The Charity received donations totalling £17,454 from The League of Friends during the year to purchase a Urodynamic Machine.

10.2 Details of Material Funds - Designated Funds

Name of fund Description of the nature and purpose of each fund
Corporate including General and Education Funds
Medical Specialties
Surgical Specialties
Women's, Children's and Community Services Fund
Specialist Palliative Care		 }
}
}
}
}


For any charitable purpose
relating to the National Health
Service wholly or mainly for the
benefit
of
the
named
specialty/activity of the Walsall
Hospitals NHS Trust.

10.3 Details of Endowment Funds

The Charitable fund has not received any endowments during the year. The funds of the Charity do not contain any endowments.

Contingencies

There are no contingent gains or losses on which to report.

11

Page 7

UNAUDITED - CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2020/21

12 Commitments, Liabilities and Provisions

Commitments

The Trust has the following commitments:
Commitments outstanding at the beginning of the year
Commitments in year
Amount charged to the SOFA in year
Amounts released during the year due to a change in the value of the commitment
Amount of commitments outstanding at the end of the year
Amount payable within one year
Amount payable in more than one year		 2021
£000
44
215
(80)
(44)
135
135

The value of commitments at the end of the year are not included within the balance sheet and reflect the Charity's intention to purchase equipment in the forthcoming year.

The Charity has the following commitments for the forthcoming year :

□ Chapel Refurbishment 50,000
□ Fundraising hub 49,500
□ Scholarship Contribution 10,000

12.1 Liabilities and Provisions

The trustees recognise liabilities in the accounts once they have incurred either a legal or constructive obligation to expend funds. The trustees do not consider there to be any provisions which need to be included in these accounts.

13 Trustee and Connected Persons Transactions

No expenditure has been incurred in respect of trustees or connected persons during the year. Trustee indemnity insurance cover and insurance premium cost is £nil.

14 Loans or Guarantees

The Charity does not hold any assets against which a loan or guarantee has been secured.

15 Related Party

During the year none of the trustees or members of the key management staff or parties related to them has undertaken any material transactions with the Walsall Healthcare NHS Trust General Charitable Fund. However, the charity has made revenue and capital payments to Walsall Healthcare NHS Trust.

Walsall Healthcare NHS Trust is a related party of Walsall Healthcare NHS Trust General Charitable Fund. Approximately 92% of the expenditure transactions totalling £139,000 processed within the year benefitted the patients and staff of the hospital. Transactionally payments are made via Walsall Healthcare NHS Trust and reimbursed by the Charity.

Donations received during the year and balances brought forward were utilised to purchase capital items to the value of £28,000 which were recorded as donated assets within the accounts of Walsall Healthcare NHS Trust.

The impact of COVID-19 during the latter part of 2019/20 significantly impaired the level of income recieved by the Charity which has extended beyond 2020/21 and continues in 2021/22. The Trustees have and are continuing to take this into account in their reviews in the budget and forecast for 2021/22.

16 Post Balance Sheet Event

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