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2024-03-31-accounts

WALSALL HEALTHCARE NHS TRUST GENERAL CHARITABLE FUND

CHARITY NUMBER 1057416 (Registered in England & Wales)

TRUSTEE’S ANNUAL REPORT 2023/2024

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

Investment Managers BREWIN DOLPHIN LIMITED 9 Colmore Row Birmingham B3 2BJ

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 (Chair)
Mrs F Frizzell Non-Executive Director
Mrs S Evans Group Director of Communications and Stakeholder Engagement
Mr K Stringer Group Director of Finance and Deputy Chief Executive
Mr D Mortiboys Operational Director of Finance

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 had investment gains totalling £63,000 in the 2023/24 financial year. The net total of donations, ticket sales and income from investments was £588,000 (including revaluation and disposal of investments) with total expenditure at £417,000.

Donations are received from a wide variety of sources, including bequests. The total value of donations and legacies received in the year was £545,000; many of these were received as a way of expressing gratitude for the care provided to individuals or their relatives.

The charity has benefited from two substantial legacy donations. The first being £241,800 donation from "the estate for the late Mr A. Noakes" is to be used through the general fund. The second was received from Enoch Evans LLP totalling £23,000 for special palliative care.

The charity is also in receipt of £53,359 from the League of Friends in January 2023 and a grant of £55,000 from NHS Charities to enhance the well-being of NHS Staff, volunteers and patients impacted by COVID-19.

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 actioned:

Xmas Selection Box £25,000
TVs £16,000
Children’s playroom renovation £20,000

Some of the Charity’s commitments for the forthcoming year are the following:

MRI Station £22,000
Recliner Chairs £28,000
TV Wall and Ceiling Mounts £11,000

Investments are not made in industries whose aims and objectives are contrary to those of the NHS, e.g. Tobacco Industries and Breweries.

There is an expectation of an upturn in the valuation of the funds as the economic position improves. The Charity is continuing to expand its network and has received legacies and large/significant donations during 2023/24 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 2024

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 disposal of investments
Net movement in funds
Fund balances brought forward at
31 March 2023
Fund balances carried forward
at 31 March 2024		 2023/24
£000
Unrestricted
358
0
16
14
388
40
115
155
233
23
35
291
632
923		 2023/24
£000
Restricted
187
0
13
0
200
35
227
262
-62
-23
28
-57
764
707		 2023/24
£000
Total
545
0
29
14

588
75
342

417
171
0
63

234
1,396

1,630		 2022/23
£000
Total
520
1
20
13
554
43
98
141
413
0
-57
356
1,040
1,396

BALANCE SHEET AS AT 31 MARCH 2024

2023/24 2022/23
£000 £000
Fixed Assets:
Investments 747
 656
Total Fixed Assets 747 656
Current Assets:
Debtors 7 11
Investments 7 42
Cash at bank and in hand 917 728
Total Current Assets **931 ** 781
Liabilities:
Creditors due within one year (48) (41)
Total Net Assets 1,630 1,396
Total Funds of the Charity
Restricted income funds 707 764
Unrestricted funds 923 632
1,630 1,396

Approved on behalf of the Trustee

GROUP CHIEF FINANCIAL OFFICER

Statement of cash flows

Cash flows from operating activities
Operating Surplus/Deficit
Non cash Income and expenses
Decrease in debtors
Decrease in creditors
Decrease in investments
Net cash generated from operations
Cash flows from investing activities
Purchases/sale in financial assets /
investments
Gains/(losses) on revaluation and disposal of
investment assets
Net cash generated used in investing activities
Increase in cash and cash equivalents
Cash and cash equivalents at start of period
Cash and cash equivalents at end of period
Cash balance per Balance Sheet		 Total at
31 March
2024
£000

171

4
7
35
217

(91)
63
(28)
189

728
917
917
 Total at
31 March
2023
£000
413
42
(142)
21
334
43
(57)
(14)
320
408
728
728

WALSALL HEALTHCARE NHS TRUST

CHARITABLE TRUST ACCOUNT 2023/2024

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 to 7 above have been compiled from and are in accordance with the financial records maintained by the trustees.

By Order of the Trustees Signed:

Chair Paul Assinder

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 2024, which are set out on pages 1 to 9.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

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

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:

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 (Jan 8, 2025 10:46 GMT)

Mark Surridge FCCA For and on behalf of Forvis Mazars LLP First Floor 2 Chamberlain Square Birmingham B3 3AX

Date: 08/01/2025

WALSALL HEALTHCARE NHS TRUST

FUNDS HELD ON TRUST ANNUAL ACCOUNTS 2023-24

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

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

Statement of Financial Activities for the year ended 31 March 2024

Notes
Income and Endowments from:
Donations and legacies
Other trading activities
Investment income
7.3
Other
2.1
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 2023
Total fund balances carried forward at 31 March 2024		 Unrestricted
Funds
£000
358
0
16
14
388
40
115
155
233
23
35
291
632
923		 Restricted
Funds
£000
187
0
13
0
200
35
227
262
(62)
(23)
28
(57)
764
707		 Endowment
Funds
£000
0
0
0
0
0
0
0
0
0
0
0
0
0
0		 2023-24
Total
Funds
£000
545
0
29
14
588
75
342
417
171
0
63
234
1,396
1,630		 2022-23
Total
Funds
£000
520
1
20
13
554
43
98
141
413
0
(57)
356
1,040
1,396

All activities relate to continuing operations. The notes at pages 4 to 9 form part of these accounts.

Page 1

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

Balance Sheet as at 31 March 2024

Notes Total at Total at
31 March 2024 31 March 2023
£000 £000
Fixed assets:
Investments 7.1 747 656
Total fixed assets 747 656
Current assets:
Debtors 8 7 11
Investments 7.2 7 42
Cash at bank and in hand 917 728
Total current assets 931 781
Liabilities:
Creditors: Amounts falling due
within one year 9 (48) (41)
Net current assets 883 740
Total assets less current liabilities 1,630 1,396
Total net assets 1,630 1,396
The funds of the charity:
Restricted income funds 10 707 764
Unrestricted funds 10.1 923 632
Total charity funds 1,630 1,396

The notes at pages 4 to 9 form part of this account.

Signed:

Date: 7 January 2025

Page 2

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

Statement of cash flows

Notes Total at Total at
31 March 2024 31 March 2023
£000 £000
Cash flows from operating activities
Operating Surplus/Deficit 171 413
Non cash Income and expenses
Decrease in debtors 4 42
Decrease in creditors 7 (142)
Decrease in investments 35 21
Net cash generated from operations 217 334
Cash flows from investing activities
Purchases/sale in financial assets / investments (91) 43
Gains/(losses) on revaluation and disposal of investment assets 63 (57)
Net cash generated used in investing activities (28) (14)
Increase in cash and cash equivalents 189 320
Cash and cash equivalents at start of period 728 408
Cash and cash equivalents at end of period 917 728
Cash balance per Balance Sheet 917 728

The notes at pages 4 to 9 form part of these accounts. Signed:

Date: 7 January 2025

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

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).

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 existence for the foreseeable future. For this reason the trustees continue to adopt the going concern basis in preparing the accounts. As a result of the continued recovery in the value of investments in the 2023/24 financial year following the reduction in values due to the global pandemic, economic uncertainty and a change in the management of the Charity's portfolio; the historic cost of these investments is now only £16,000 more than the market 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 higher during 2023/24, the Charity also benefitted substantially from the donation of "the estate for the late Mr A. Noakes" and is continuing to expand its network of possible income streams to further sustain the long-term viability of the Charity.

1.2 Income Recognition Income Recognition
a. Income is recognised in the Statement of Financial Activities when the following three factors are met:
i. Entitlement - arises when a particular resource is receivable or the charity's right becomes legally enforceable;
ii. Probable - when probable 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 probable. 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 4

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

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 designated funds. The major funds held within these categories are disclosed in note 10.1

1.5 Investment Fixed Assets

Investment fixed assets are shown at market value.

a. Quoted stocks and shares are included in the balance sheet at mid-market price, ex-div.

b. Other investment fixed assets are included at trustees' best estimate of 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 been produced for this year, as the charity exceeded the small charity thresholds for the year.

1.1 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 5

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

2.1 Details of Other income

During the financial year £14,016 was received in relation to the event ticket sales, sponsorships and lottery receipts 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

The first and second instalment grant of a successful grant awarded to Walsall Healthcare NHS Trust General Charitable Fund (Well Wishers) in 18 November 2022 was received on 22 December 2023. The grant will support enhancing the well-being of NHS Staff, volunteers and patients impacted by COVID-19, as part of the Trust’s or Health Board’s COVID-19 response.

3.1 Details of resources expended - grants

There were no 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		 U nrestricted

Funds
£000
36
4
40		 Restricted E
Funds
£000
32
3
35		 ndowment
Funds
£000
0
0
0		 Total
2024
Funds
£000
68
7
75		 Total
2023
Funds
£000
36
7
43

The Charity does not directly employ staff. Included in the above Fundraising Costs is a recharge of fundraising salary costs totalling £59,349

4.2 Details of Expenditure - Charitable Activities

(A)
Other:
Patients welfare and amenities
Staff welfare and amenities
Miscellaneous		 U nrestricted

Funds
£000
82
12
10
104		 Restricted E
Funds
£000
80
137
2
219		 ndowment
Funds
£000
0
0
0
0		 Total
2024
Funds
£000
162
149
12
323		 Total
2023
Funds
£000
43
40
4
87

Analysis of Support & Governance Costs included within Charitable Activities

(B)
Management
Finance Administration
Finance Administration Software
Audit fee		 U nrestricted

Funds
£000
0
8
1
2
11		 Restricted E
Funds
£000
0
7
0
1
8		 ndowment
Funds
£000
0
0
0
0
0		 Total
2024
Funds
£000
0
15
1
3
19		 Total
2023
Funds
£000
0
6
1
4
11

Charitable Activities Per SOFA (A+B)

U nrestricted

Funds
115		 Restricted E
Funds
228		 ndowment
Funds
0		 Total
2024
Funds
342		 Total
2023
Funds
98

Walsall Healthcare NHS Trust reinstated the recharge of administration costs in 2023/24 following the agreement in 2020/21 to waive the administration recharge in light of the impact of the COVID-19 Pandemic.

U nrestricted

Funds
£000
291		 Restricted E
Funds
£000
(57)		 ndowment
Funds
£000
0		 Total
2024
Funds
£000
234		 Total
2023
Funds
£000
356

5 Changes in Resources Available for Charity Use

Net movement in funds

Page 6

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

6 Fixed Assets

The charity does not hold any tangible fixed assets.

7 Analysis of Fixed Investment Assets

Fixed Asset Investments
Market value at 31 March 2023
Less: Disposals at carrying value
Add: Acquisitions at cost
Net gain / (loss) on revaluation
Market value at 31 March 2024
Historic cost at 31 March 2024
Market Value at 31 March 2024
Fixed Interest
UK Equities & Funds
Overseas Equities and Funds
Other Investments		 Total
2024
£000
656
(336)
364
63
747
762		 Total
2023
£000
699
(34)
41
(50)
656
735
£000
53
110
494
89
747
31 March 2024		 £000
109
142
339
66
656
31 March 2023

7.1 Fixed Asset Investments

At 31 March 2024 the majority of the holdings were valued below 5% of the total value of the investment portfolio.

Investment MARKET
VALUE
£9,078
£14,213
£13,989
£8,489
£11,900
£14,478
£19,639
£13,644
£5,257
£18,653
£25,520
£5,742
£15,347
£8,529
£26,989
£8,424
£27,322
£9,630
£12,480
£7,939
£8,762
£46,996
£12,554
£20,904
£21,938
£27,123
£7,848
£9,433
£15,194
£21,808
£23,399
£14,649
£20,125
£9,871
£11,049
£18,365
£12,867
X
£7,852
£11,436
£9,923
£13,311
£8,473
£8,213
£10,223
£7,819
£10,612
£21,918
£17,608
£9,223
£7,081
£6,839
£6,685
£9,055
£746,423		 %
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1.59%
1.94%
2.63%
1.83%
0.70%
2.50%
3.42%
0.77%
2.06%
1.14%
3.62%
1.13%
3.66%
1.29%
1.67%
1.06%
1.17%
6.30%
1.68%
2.80%
2.94%
3.63%
1.05%
1.26%
2.04%
2.92%
3.13%
1.96%
2.70%
1.32%
1.48%
2.46%
1.72%
1.05%
1.53%
1.33%
1.78%
1.14%
1.10%
1.37%
1.05%
1.42%
2.94%
2.36%
1.24%
0.95%
0.92%
0.90%
1.21%
Total 100.00%

7.2

Cash held as part of investment portfolio

7.3 Total investment income

Investments listed on Stock Exchange

Held
in UK
£000
7
7		 Held
outside UK
£000
0
0		 2023-24
Total
£000
7
7		 2022-23
Total
£000
42
42
Held
in UK
£000
29
29		 Held
outside UK
£000
0
0		 2023-24
Total
£000
29
29		 2022-23
Total
£000
20
20

Page 7

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

8 Analysis of Debtors

Accrued income

Trade creditors Accruals

£000
7
31 March 2024		 3 £000
11
1 March 2023
£000
30
18
48
31 March 2024		 3 £000
31
10
41
1 March 2023

10 Details of Restricted Funds

Grant of £55,000 were received from NHS Charities Together to enhance the well-being of NHS Staff, volunteers and patients impacted by COVID-19, and donations of £53,000 from League of Friends were included within the total for 2023/24.

As at 31 March 2024 the restricted funds balances and movements detailed in the table below totalled £707,000.

Restricted Fund Description
League Of Friends
Heart Failure Service - Closed Trf to 2011 Cardio
Boxing Match
Coronavirus Donations
Nhs Charities
Fun Run
London Marathon
Medical Equipment
Heartstart
Theatres Ent
Ward 11
Ward 10
Wrighton - Orthopaedic Dept
Urology Fund
Neo-Natal Unit(Scbu)
Paediatric Unit- Restricted
Specialist Palliative Care
Sandwell Grant
Climb Snowdon
Fundraising 2018 Stroke Rehab
Trust's Got Talent Fundraising
Wren Appeal
Total		 Balance
B/fwd as
at
Donations &
Investment
Income
Expenditure
Transfer
between
funds
Gains/
losses
Balance
C/fwd as at
1 April
2023
31 March 2024
£000
£000
£000
£000
£000
£000
142
54
(96)
0
100
37
1
(2)
(15)
2
23
11
0
0
0
11
34
1
(3)
2
34
109
58
(63)
6
110
1
0
0
0
1
5
0
0
0
5
137
3
(10)
6
136
13
0
(2)
1
12
4
0
0
0
4
2
0
0
0
2
0
0
0
0
0
9
0
(1)
0
8
3
0
0
0
3
2
0
0
0
2
8
0
0
(8)
0
0
123
82
(25)
8
188
56
0
(56)
0
0
2
0
0
0
2
62
1
(4)
3
62
1
0
0
0
1
2
0
0
0
2
764
200
(262)
(23)
28
707

Transfers of £23k in year between funds, £15k for Heart Failure Legacy requested by the executor of the estate and £8k for Paediatric Unit as funds were incorrectly allocated.

10.1 Classification of Funds

The charitable funds are broadly classified into the four(4) categories below based on nature and purpose of each fund.

Corporate including General and Education Funds
Medical Specialties		 }
}		 For
any
charitable
relating to the National
Service wholly or mainly		 purpose
Health
for the
Surgical Specialties } benefit
of
the		 named
Women's, Children's and Community Services Fund } specialty/activity of the
Healthcare NHS Trust.		 Walsall

10.2 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.

11 Contingencies

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

Page 8

CHARITABLE TRUST ACCOUNTS - WALSALL HEALTHCARE NHS TRUST - 2023/24

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
2024
£000
168
(20)
148
148

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 intention to purchase equipment in the forthcoming year.

The Charity has the following commitments that were approved at the June 2024 Charity Committee meeting for the next year :

□ MRI Station 22,000
□ Recliner Chairs 28,000
□ Tree of Life Sculpture 6,000
□ TV Wall and Ceiling Mounts 11,000
□ Dental Xray Equipment 32,000
□ OPD Equipment 26,000
□ Endoscope 40,000

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 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 81% of the expenditure transactions totalling £403,000 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.

Page 9