NHS Wye Valley NHS Trust Umbrella Charity Registered Charity Number: 1058898 Charitable Funds Committee Annual Report 2020-21
CONTENTS Foreword Introduction structure, governance and management Relationship with NHS Trust 3.2 Appointment of trustee Nature of governance 3.4 Management of charity 3.5 Risks to which the charity is exposed Operation of the committee 3.7 Committee membership and attendan Committee membership training and induction Objectives and activities Objectives and aims Significant activities 4.3 Review of activities undertaken Achievements and performance Review of operations 5.2 Review of financial position 5.3 Going concern 5.4 Reserves policy 5.5 Funding sources 5.6 Expenditure Investment policy 5.8 Fund balances Looking to the future Future plans 6.2 Charitable donations 6.3 Impact of Covid-19 Conclusion Appendix A- Statutory information
Foreword The annual report makes reference to the Charity trustee. The trustee refers to Wye Valley NHS Trust as a corporate entity. The Executive Directors and Non-Executive Directors of the Trust Board share the responsibility for ensuring that the NHS body fulfils its duties as trustee in managing the charitable funds. Introduction The trustee presents the Charitable Funds Annual Report and the independently examined financial statements for the year ended 31 March 2021. The Accounts have been prepared in accordance with the requirements of the Charities Acl 2011 and the Statement of Recommended Practice (SORP) relating to Accounting and Reporting by Charities effective from 1 January 2019. Charitable funds received by the Trust are accepted, held and administered as funds held on trust by the corporate body for purposes relating to the health service in accordance with the National Health Service Act 1977 and the National Health servi and Community Care Act 1990. Charitable funds may be used for any charitable purpose or purposes relating to the NHS, wholly or mainly for services provided at Wye Valley NHS Trust. Wye Valley NHS Trust is the trustee of the charitable funds. The Trust Board devolves responsibility for the on-going management of funds to the Charitable Funds Committee which administers the funds on behalf of the trustee. The trustee of the Charity would like to express its sincere appreciation to all the members of the public and organisations who made a donation to the trust during the year. Structure, governance and managemont Relationship with NHS Trust The Wye Valley NHS Trust Umbrella Chartty was registered with the Charity Commission in October 1996 originally as Hereford Hospitals NHS Trust Umbrella Charity. It operates under registered charity number 1058898. The Gharitable fund consists of a number of individual funds held. each with a designated remit or purpose, relating to particular wards and departments nominated by the donor. For each designated fund,.the charity manages spending through local fund managers, (typically an operational unit manager)
who oversee the use of the funds on a day-to-day basis within the boundaries of local guidance agreed by the trustee. There were six active funds held with balances as at 31 March 2021. These funds contained a number of sub-funds within which are designated for specific purposes such as a named department, ward or specialty. Four of the funds are held are unrestricted and two restricted. The two restricted funds relate to monies held for a specific purpose and include a fund to benefit staff derived from Covid-19 related donations. 3.2 Appointment of trustee The Executive Directors and Non-Executive Directors of the Trust Board share the responsibility for ensuring that the NHS body fulfils its duties as trustee in managing the charitable funds. Non-Executive members of the Trust Board were appointed by NHS Improvement. Executive members are appointed by the Trust Board. Members are not individual trustees under Charity Law but act as agents on behalf of the trustee. The Members for 2020121 are listed in Section 3.7 and again in Appendix A. 3.3 Nature of governance The Charitable Funds Committee met four times during the financial year and was required to.. Approve the trustee annual report, annual financial statements and returns prepared in Complian with the requirements of the Charities Commission, ensuring that they are completed, audited and submitted. Ensure general stewardship by acting reasonably and prudently in all matters relating to Charitable Funds. Ensure that funds are invested to achieve as high a level of income as possible at low risk. Monitor the performance of deposits and investments. Ensure that proper accounting reGords are maintained which disclose with reasonable accuracy at any time the financial position of the funds held in trust. Ensure that systems of internal control and fraud prevention and detection are rigorous and constantly maintained. Ensure that income and property of the Charitable Fund is used for the purpose set out in the objects of the fund and that value for money is achieved. Avoid any unnecessary accumulation of funds unless there is a specrfic future use in mind which has been agreed by the budget holder with the approval of the Charitable Funds Committee. Oversee the implementation of Internal and Statutory Audit recommendations. Raise funds and invite and receive contributions which are consistent with the objects of the Charitable Fund. Publish an Annual Report of work carried out during the year and outline plans for the future.
3.4 DAanagement of Charity The Committee oversees the work of the fund managers and has the power to revoke a fund manager's remit or, subject to any specific donor restriction, direct the use to which funds are put. These include the unrestricted central fund which incorporates funds held for general purposes. This fund represents monies available for distribution by the trustee at its discretion and are not restricted or designated for a specific purpose. The Standing Orders of Wye Valley NHS Trust set out financial delegation limits. Designated fund managers, who are senior managers or clinicians, have delegated authority for each fund whilst other senior managers may be authorised signatories. The Director of Finance is responsible for the day-to-day management and control of the administration of the charitable funds and reports to the Charitable Funds Committee. The accounting records and on-going administration of the funds are dealt with by the Finan Department of Wye Valley NHS Trust based at Harold Street Archive Office, Hereford. The Secretary to the Committee is the Associate Director of Corporate Governance whose duties in this respect include taking the minutes and keeping a record of matters arising. 3.5 Risks to which the Charity is exposed The Charity maintains a cautious approach to risk in its investment function and is therefore not materially exposed to risk. Funds are presently held as cash in instant acGess and notice accounts allowing access for funds to spend on charitable purposes. The Charity's main risk factor relates to a potential reduction in future income. The Trustee seeks to mitigate this by limiting long-term financial commitments. The Charity is not exposed to any risk in terms of longer term liabilities or commitments to meet future expenditure. Funds are utilised for the purpose of specific expenditure items rather than funding recurrent commitments. 3.6 Operation of tha Committee Standing orders require meetings of the committee to be held on at least a quarterly basis. During 2020121 the Committee met on four occasions.
3.7 Committee membershlp and attendance Membership ofthe Trust body Mr Frank Myers MBE Reverend Christobel Hargraves Mr Russell Hardy Mr Richard Humphries Mr Howard Oddy Mr Geoffrey Etule MrJon Barnes Mr Glen Burley Mrs Jane Ives MrAndrew Cottom Mr David Mowbray .Total Committee Chair Non-Executive Director Trust Chair Non-Executive Director DSrector of Finance and Information Director of Human Resources Chief Operating Officer Chief Executive Managing Director Non-Executive Director Medical Director In Attendance Mr Clive Andrews Ms Katie Farmer Associate Director of Finance Fundralslng Manager Executive Assistant Director of Strategy and Planning Associate Director of Corporate Governance Associate Non-Executive Director Executive Assistant Associate Non-Executive Director Associate Non-Executive Director Mrs Vicky Roberts MrAlan Dawson Mrs Erica Hermon Mrs Nicola Twigg Mrs Val Jone5 Mrs Grace Quantock Mrs Rebecca Gratton The members of the committee were asked to disclose any interests for recording within the committee minutes. 3.8 Committee membership training and induction New committee members undertake training and induction in their role as an executive or Non-Executive Director. This includes the charity trustee role. There was one new trustee in 2020121, Mr Geoffrey Etule, Director of Human ReSoUrs. Executive and Non-executive Directors of Wye Valley NHS Trust are automatically members of the Board sub-committee governing charitable funds. The Trustee is the corporate body (the NHS Trust). Objectives and Activities 4.1 Objectives and Aims The object of the Charity is to apply income received from donations to any charitable purpose or purposes relating to the National Health Service. The trustee fulfils its legal duty by ensuring that funds are spent in accordance with
the objects of each fund and in designating funds, the trustee respects the wishes of donors to benefit patient care and advance the good health and welfare of patients. carers and staff. In order to provide the best possible service to the local population, the trust will on occasion, seek to raise resources through its charitable fund in pursuance of a specific goal or identified target. The trustee will ensure that funds raised for a specitic purpose are applied appropriately. The trustee has not sel formal objectives other than the requirement that donations are spent in accordance with the object of the fund. The activities undertaken in pursuance of this policy are idenlified in the analysis of expenditure undertaken. Section 5.5 provides further information on expenditure made during the year. The Charity operates within factors that it does not control which relate largely to the value of donations to the funds during a given period. The Charity minimises its on-going expenditure commitments in order to reflect this. In order to verify adequate discharge of this function, the Charity trustee has prepared an annual report for the Board. The actions of the trustee in discharging its duties whilst having due regard to public benefit guidance published by the Charities Commission is provided in more detail in the following sections. 4.2 Significant activities The Charity's main objectives for 2020121 mirror the strategic objectives identified in section 4.1. The trustee has had due regard to Charities Commission guidance contained in the Charities (Accounts and Reports) regulations 2008 in relation to the delivery of public benefit. In 2020121 the committee approved the allocation of £355k of expenditure for -charitable purposes {2019120, £817k). This includes support costs of £19k (2019120, £18k) which were incurred and £41K of expenditure in relation to costs of raising funds (2019120, £49k). The charitable funds received income of £372k during the year (2019120, £320k). Overall. the total fund balance increased by £17k in-year. During the year the committee received spending requests provided by business units which were subject to approval. Managers are briefed as part of their training on the process of requesting charitable funds and the format of applications by their business units for charitable funds. The funds receive many donations from patients and their families specifically given to thank the nursing, medical and support staff. These are used for aGtivities and training to reward and develop staff, often offering them the chance to attend conferences and courses which would not otheiSe have been available to them. Charitable funds are also used to contribute in part or
whole to the purchase of larger items enabling Wye Valley NHS Trust to improve its service to the people of Herefordshire. 4.3 Review of activities undertaken The main activities undertaken by the Charity relate to the purchase of goods and services to benefit the patients and staff of Wye Valley NHS Trust. Items purchased through charitable funds are designed to augment revenue expenditure undertaken by the Trust rather than replace it. The Charity receives funds both through donations and bequests to support the work of the Trust. Donations made to specific funds are reflected in the fund balances and the resources are used for the purpose of the fund in question. Achievements and Porfomiance Operational Review Third party fund raising activities were significantly curtailed during the financial year due to Covid-19. There was a consequent reduction in income which was partially offset by the receipt of £159k from NHS Charities Together which was tasked with distributing monies raised nationally during the pandemic. As a result, expenditure and commitments to spend resources were lower during the year as the Charity aims to maintain balances in line with its reserves policy. The Charity was still able to make a significant donation to the new Helipad using monies donated in the previous year. In addition, the charity has purchased various items of medical equipment and furniture as well as spending £25k of the Covid-19 relaled donations on staff amenities. Going forward, the charity has agreed to Commen fund raising activities in 2021122 to help to build a new dedicated Breast care unit at the County Hospital and this will form the main part of a future fundraising strategy. The charity continues to operate to provide benefits to staff and patients of Wye Valley NHS Trust through the provision of financial support for equipment and facilities. 5.2 Review of financlal position As at the end of 31 March 2021, the Charity held the following investments regarding cash holdings-. Monmouthshire Building Society (30 day notice) (31103120, £918k) £84k In addition, the Charity held £833k in instant access cash accounts (31103120, £296k). This was held to cover the expenditure commitments at the year-end.
Governance and support costs for 2020121 were £19k (2019120, £18k) which covers the costs of administration to manage the charity's portfolio of funds. This charge covers financial support (inGluding systems) and the costs of an independent external examination to ensure governance is adhered to. The charge also covers associated staff costs to ensure timely processing of donations and expenditure. The Trust incurred £41k (2019120, £49k) on costs relating to the generation of voluntary income and donations. The Trust employs a professional Charitable Fundraiser to engage with the public and promote the Trust's fund raising efforts. The Trust does not currently have a formal policy in place to ensure that safeguards are in place to protect vulnerable people when carrying out fund-raising activities over and above the existing provisions covering WVT staff. A policy is being prepared to address this. The Trust also maintains records of any complaints received and ensures that they are resolved satisfactorily. No complaints were received in 2020121. The balance of available funds totalled £808k at the 1 April 2020 and had increased to £825k as at 31 March 2021. The Trust's principal source of funding is donations and legacies received and this constitutes the main factor affecting the Trust's ability to meet future demands on its charitable fund resources. The Trust has due regard to this fact when planning future expenditure. 5.3 Going Concern The charity is a going concern. The charity's expenditure over previous years reflect its income and a planned reduclion in the value of reserves but within the scope of the reserves policy. Charitable expenditure is flexed in order to reflect income received. The charities future liabilities do not exceed its ability to fund from existing funds. At the time of the report, the Charity has future commitments of £154k relating to committed expenditure on charitable activities and also continues to meet the cost of a Fundraiser on an ongoing basis. 6.4 Reserves Policy The Charity has a reserves poSicy approved in 2018119. The Charity's reserves policy states that minimum funds must be held equating to six months of operating expenditure or £100k. The policy was implemented with effect from 1 April 2018. As at 31 March 2021, the charity had £677k in unrestricted fund balances (2019120, £790k). 5.5 Funding sources Individual fundraising, donations and bequests..
Income of £293k was received during the year from donations {2019120, £291 k). Legacies of £73k were received (2019120, £18k), and investment income totalled £6k (2019120, £11k). Donations of £293k received in 2020121 includes £1k of Gift Aid tax recovery. The following legacies were received as follows= Table 1 List of Le acies received Legacy Fund Value- £ Legary- I Legacy- 2 Legacy- 3 Legacy- 4 Legacy- 5 Emergency Care (Oncology) Central Funds (General Purposel Emergency Care Ioncologvl Emergency Care (Oncology) Emergency Care (Eye Unit) 10,000 60,000 I,ioo 2,000 Total value of legacies received 2020121 73,184 Donations were received from a large number of sources and are analysed in to the following funds.. Table 2- Donations b Fund Fund Value- £k Emergenry care Endoscopy- Restricted Integrated Family Health Central Funds 52 13 54 Urgent Care Central FLJnds - Restricted Total Donations 13 160 292 Individual donations received in excess of £5,000 are also listed in the table below.. Table 3- Donations in excess of £5k Fund Donor Central Funds - Restricted £K NHS Charities Together NHS Charities Together NHS Charities Together NHS Charities Together Individual donor 24.5 Central Funds - Restricted Central Funds- Restricted 32.0 50.0 Central Funds- Restricted ' Urgent Care Urgent Care Emergency Care Emergency Care 50.0 Individual donor Individual donor Individual donor ij 11.7 io
The trustees of the Charity would like to express their sincere appreciation to all the members of the public and organisations who made a donation to the Trust during the year. 5.6 Expenditure During the last 12 months, the trustees has approved expenditure amounting to £295k (2019120, £750k). The table below analyses the approved expenditure in to specific headings.. Table 4- Main areas of ex enditure Areas of Expenditure 2020121 -£k 124 2019120 -£k 145 Patient welfare and amenities staff welfare and amenities 39 25 25 Staff training Purchase of new equipment Total 125 555 294 750 The table below provides an analysis of the high value individual items of expenditure incurred in 2020121. Table 5- Hi Fund h value items Fund Name urchased Item Purchased £k CFOI General Purpose General Purpose Integrated Care Covid-19 Staff Helipad Helipad Verathon Bladder Scanner 74 CFOI 26 CF16 CF32 Surewash Tfr Chair and Air Cushion io CFIO ITU CF20 Oncologv Covid-19 Staff Rheumatology Philips Ultrasound Probe Other items of expenditure Total Expenditure Urology to Diabetes 3x Zero Recliner Chairs 27 CF32 CF13 129 295 5.7 Investment policy The Charity's investment policy followed in 2020121 is as follows: Funds are held as cash on deposit- to reflect need for liquidity. The charity operates several deposit accounts with varying notice periods. Adoption of a prudent policy towards investment risk.
5.8 Fund balances Th8 Charity aims to ensure that all funds maintain a positive balance which was the case in 2020121. Looking to the future Future Plans Members of the Charity trustee continue to regularly review spending plans to reflect the changing needs of the NHS in Herefordshire and the surrounding counties. The objective is to enhance facilities for patient care, ensuring that both service needs and the objectives of the Charitable Fund are met. In future the Trust will: Control, manage and monitor the use of the fund's resources. Continue to review the structure of funds held to enable the effective operation of the Charity whilst reflecting the wishes of donors. Ensure that 'best practice, is followed in the conduct of all its affairs fulfilling all of ils legal responsibilities. Review options for future specific fundraising opportunities. Continue to ensure the effective utilisation of monies received by the Charity as a share of the Covid-19 national fundraising. Encourage fund managers to develop plans for expenditure for their funds. Ensure the maintenance of adequate resource across funds whilst seeking to maximise the use of those resources. 2022 will see a major fundraising campaign launched by the Trust to create a dedicated Breast Unit at the County Hospital and allow an expansion of the Macmillan Renton Unit. The new Breast unit will offer the same "one stop" seNice as the Urology Department successfully created from charitable funds in 2019. The expansion of the MRU will allow the Trust to create the capacity to treat cancer patients more quickly. The proposed location of the Breast Unit is separate from, but co-located with the existing the MaGmillan Renton Unit with the aim being to prevent patients being required to move between departments for assessment, diagnosis and treatment. A business case to support the proposal is being developed. The Charitable Funds Committee has also resolved to create two bursary nds of £2k pa each in memory of two members of staff, Mr Howard Oddy, Director of Finance and Mr Mel Bolton, a longstanding member of the Trust's operational management team, both of whom passed away in 2021. The bursaries will be time-limited to five years and will support management development within the trust. 12
6.2 Charitable donatlons The Trust is fortunat8 to receive charitable donatlons from patients, servlcè users, members of the public and charities. This enables continued work to furth8r 8nhanGe the facilities and provide additional equipment. 6.3 Impact of Covid-19 The Covid-19 pandemlc contlnues to have an impact on fundraising and income lo charitable funds. This is partially mitigated Ihrough the recelpt of a sh8re.of funds raised nationally. Funds raised have been rlng-fenced for the benefit of staff in line.with the aims of national fund.-raising. The charity aims to spend monies donated without adding significantly to reserv6s. Therefore any changes to income will be managed through . necessary reductions in expenditure on equipment and 8taff and patient welfare. Concluslon Based on the Information presen18d and discussed at the tommittee meetings during the year we have concluded that the Commi1188 Is operating In accordance with its Board-approved written Terms of Reference and Department of Health requirements. It has overseen the appropriate control and allocatlon of Charitable Funds at Wye Valley NHS Trust. wtrF ers MBE Charitable Funds Committee Chalrman. 13
endix A STATUTORY INFORMATION W e Vallo NHS Trust Umbrella Chari Registered Charity Number. 1058898 Charity Name.. Wye Valley NHS Trust Umbrella Charity Wye Valley NHS Trust County Hospital 27 Unlon Walk HEREFORD HR12ER Mr Russell Hardy Mr Geoffrty Etulo Mr Howard Oddy Lucy F18n8gan Mr Glen Burfey Mrs Jane lles Mr Da¥id Mowbray Mr Frank Myers MBE Mr Jon Barnes Mr Richard Humphrfes Mr Andrew Cottotn Add$$.. Members ol Charity Trustee.. Rekpr8nd Chrislob81 H8igTaKes Deloitte UK LLP Four 8rindleyplace Birmiroham B1 2HZ Barclays Bank plc Ilnstant kccess Deposit Account) Her8ford Branc 1-3 Broad Street Herefry HR4 98H. Extemal Auditor.. Monmoulhshir8 Building Socigty130 d8y notlca} Monmoulhshile House John Frost Square Newport NP20 1PX Bankers.. Nationwde Building Siety Ilnstsnt Access} PO Box 1111. Swnck)n SN3 1TH G0MIng Document.. Declaration ol Trust dated 2 October ig Operational Management ol Charitles administration.. Mr HtrNard Oddy 14
| Wye ValleyNHS Trust Umbrella Charity | Wye ValleyNHS Trust Umbrella Charity | Wye ValleyNHS Trust Umbrella Charity | CharityNo | 1058898 | |
|---|---|---|---|---|---|
| Annualaccountsforthe period | |||||
| Period start date | 01-Apr-20 | To | 31-Mar-21 | ||
| Section A | Statement of financial activities | ||||
| Recommended categories by activity Note Incoming resources Income and endowments from: Donations and legacies 3. Investments 3 Resources expended Expenditure on: Raising funds 4. Charitable activities 4. Support costs 4. Reconciliation of funds: 10. Total Net movement in funds Total funds brought forward Total funds carried forward Total Net (expenditure)/income before investment gains Net (expenditure)/income Other recognised (losses)/gains |
Unrestricted funds Restricted income funds Total funds Prior year funds £000 £000 £000 £000 F01 F02 F04 F05 |
||||
| 206 | 160 | 366 | 309 | ||
| 6 | 0 | 6 | 11 | ||
| 212 | 160 | 372 | 320 | ||
| 41 | 0 | 41 | 49 | ||
| 265 | 30 | 295 | 750 | ||
| 19 | 0 | 19 | 18 | ||
| 325 | 30 | 355 | 817 | ||
| (113) | 130 | 17 | (497) | ||
| (113) | 130 | 17 | (497) | ||
| (113) | 130 | 17 | (497) | ||
| 790 | 18 | 808 | 1,305 | ||
| 677 | 148 | 825 | 808 |
All prior year income and expenditure is represented by unrestricted funds. Prior year support costs have been restated from charitable funds to support costs.
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Section B Balance sheet
| Current assets Investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Total net assets or liabilities Funds of the Charity Restricted income funds Unrestricted funds Total funds Signed by one or two trustees on behalf of all the trustees |
Note 6. 8. 7. 10. 10. |
Unrestricted funds Restricted income funds Total this year Total last year £000 £000 £000 £000 |
Unrestricted funds Restricted income funds Total this year Total last year £000 £000 £000 £000 |
Unrestricted funds Restricted income funds Total this year Total last year £000 £000 £000 £000 |
Unrestricted funds Restricted income funds Total this year Total last year £000 £000 £000 £000 |
|---|---|---|---|---|---|
| 84 | 0 | 84 | 918 | ||
| 674 | 159 | 833 | 296 | ||
| 758 | 159 | 917 | 1,214 | ||
| 81 | 11 | 92 | 406 | ||
| 677 | 148 | 825 | 808 | ||
| 677 | 148 | 825 | 808 | ||
| 677 | 148 | 825 | 808 | ||
| 0 | 148 | 148 | 18 | ||
| 677 | 0 | 677 | 790 | ||
| 677 | 148 | 825 | 808 | ||
| Signature | Print Name | Date of approval dd/mm/yyyy |
|||
| Katie Osmond | 08/02/2022 |
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Section C Notes to the accounts
Note 1 Basis of preparation
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities • and with preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of • and with Ireland (FRS 102)
- and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Confirmed
1.2 Going concern
The charity is a going concern. The charity's expenditure in 2020/21 reflects income received plus a movement in the value of reserves within the scope of the reserves policy. Charitable expenditure is flexed in order to reflect income received. The charity does not have significant future liabilities it is obliged to meet.
The major funds held in each of these categories are disclosed in Note 10. The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s financial statements.
The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2.
1.3 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
1.4 Material prior year errors
No material prior year error have been identified in the reporting period.
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Section C Notes to the accounts (cont)
Note 2 Accounting policies
2.1 INCOME
This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additional policy has been adopted then this is detailed in the box below.
| Recognition of income In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP). Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Settlement of insurance claims Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA. Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable. Support costs The charity has incurred expenditure on support costs. Volunteer help · it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. Donated goods Contractual income and performance related grants Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS [Financial Reporting Standard] 102 SORP [Statement of recommended practice] or FRS 102. Grants and donations Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). Tax reclaims on donations and gifts Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. These are included in the Statement of Financial Activities (SoFA) when: the charity becomes entitled to the resources; This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions. Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution. Donated services and facilities Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Income from interest, royalties and dividends This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable. The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. |
Yes No N/a |
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4
Investment gains and This includes any realised or unrealised gains or losses on the sale of investments and losses any gain or loss resulting from revaluing investments to market value at the end of the year.
| 2.3 ASSETS Intangible fixed assets Heritage assets 2.2 EXPENDITURE AND LIABILITIES Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. losses any gain or loss resulting from revaluing investments to market value at the end of the year. Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. Grants payable without performance conditions Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised. The charity has no tangible fixed assets. Redundancy cost The charity made no redundancy payments during the reporting period. Deferred income No material item of deferred income has been included in the accounts. Creditors The only governance costs incurred relate to the cost of the independent examination of the accounts and annual report. The cost incurred in the current and prior year was £1k. Governance and support costs Support costs include governance costs. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Stocks and work in progress Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value. The charity has no heritage assets, that is, no non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. Depreciation rates and methods do not apply. The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS 102 SORP. Tangible fixed assets for use by charity As there are no tangible assets, depreciation does not apply. The charity has no intangible fixed assets, that is, no non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. Therefore amortisation rates and methods do not apply. The charity has creditors which are measured at settlement amounts less any trade discounts. Provisions for liabilities A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. Basic financial instruments Investments Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Current asset investments The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due. They are valued at fair value except where they qualify as basic financial instruments. |
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5
Section C Notes to the accounts (cont)
Note 3 Analysis of income
| Note 3 Analysis of income | Analysis of income | ||||
|---|---|---|---|---|---|
| Donations and gifts GiftAid Legacies Total Interestincome Total Analysis Donations and legacies: TOTAL INCOME Income from investments: |
Analysis | Unrestricted funds Restricted income funds Total funds Prior year £000 £000 £000 £000 |
|||
| Donations and gifts | 132 | 160 | 292 | 290 | |
| GiftAid | 1 | 0 | 1 | 1 | |
| Legacies | 73 | 0 | 73 | 18 | |
| Total | 206 | 160 | 366 | 309 | |
| Interestincome | 6 | 0 | 6 | 11 | |
| 6 | 0 | 6 | 11 | ||
| 212 | 160 | 372 | 320 |
Other information:
Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)
The income identified includes significant contributions in the form of one legacy of £60,000.
The Trust has also been in receipt of income donations totalling £158,600 from NHS Together, the national charity formed to receive and distribute donations arising from the Covid-19 pandemic. This is recorded within the Restricted income funds category.
6
Section C Notes to the accounts (cont)
Note 4 Analysis of expenditure
| Note 4 Analysis of | expenditure | expenditure | expenditure | expenditure | expenditure | expenditure | expenditure | expenditure |
|---|---|---|---|---|---|---|---|---|
| Analysis Expenditure on raising funds: |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £000 £000 £000 £000 £000 £000 £000 £000 This year Last year |
|||||||
| Fundraising agents | 41 | 0 | 0 | 41 | 49 | 0 | 0 | 49 |
| Expenditure on charitable activities: Total expenditure on raising funds |
41 | 0 | 0 | 41 | 49 | 0 | 0 | 49 |
| Patients welfare and amenities | 109 | 16 | 0 | 125 | 145 | 0 | 0 | 145 |
| Staff welfare and amenities | 25 | 14 | 0 | 39 | 25 | 0 | 0 | 25 |
| Staff Training | 6 | 0 | 0 | 6 | 25 | 0 | 0 | 25 |
| Contributions to NHS: | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchase of new equipment | 125 | 0 | 0 | 125 | 555 | 0 | 0 | 555 |
| Miscellaneous | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total expenditure on charitable activities Expenditure on support costs: |
265 | 30 | 0 | 295 | 750 | 0 | 0 | 750 |
| Support and adminstrative costs | 19 | 0 | 0 | 19 | 18 | 0 | 0 | 18 |
| TOTAL EXPENDITURE Total |
19 | 0 | 0 | 19 | 18 | 0 | 0 | 18 |
| 325 | 30 | 0 | 355 | 817 | 0 | 0 | 817 |
Other information:
Analysis of expenditure on charitable activities and support costs:
| Thisyear | Thisyear | Thisyear | Thisyear | Lastyear | Lastyear | Lastyear | Lastyear | |
|---|---|---|---|---|---|---|---|---|
| Activity or programme | Activities undertaken directly |
Grant funding of activities |
Support Costs |
Total this year |
Activities undertaken directly |
Grant funding of activities |
Support Costs |
Total last year |
| £000 £000 £000 £000 £000 £000 £000 £000 |
||||||||
| Patientwelfare and amenities | 125 | 0 | 8 | 133 | 145 | 0 | 3 | 148 |
| Staff welfare and amenities | 39 | 0 | 3 | 42 | 25 | 0 | 1 | 26 |
| Stafftraining | 6 | 0 | 0 | 6 | 25 | 0 | 1 | 26 |
| Contributions toNHS | 0 | 0 | 8 | 8 | 0 | 0 | 0 | 0 |
| Purchase of newequipment | 125 | 0 | 0 | 125 | 555 | 0 | 13 | 568 |
| Total | 295 | 0 | 19 | 314 | 750 | 0 | 18 | 768 |
Support costs identified above includes governance costs of £1k in respect of the accounts external examination fee (2019/20, £1k). Support costs also includes administrative staff and office costs.
7
Section C Notes to the accounts
Note 5 Details of certain items of expenditure
5.1 Fees for examination of the accounts
Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).
Independent examiner’s fees
| Thisyear | Lastyear |
|---|---|
| £000 | £000 |
| 1 | 1 |
8
Section C Notes to the accounts (cont)
Note 6 Investment assets
6.1 Please provide a breakdown of current asset investments, if applicable, agreeing with the balance sheet.
| Total Analysis of current asset investments Cash or cash equivalents |
This year | Last year |
|---|---|---|
| £000 | £000 | |
| 84 | 918 | |
| 84 | 918 |
9
Section C Notes to the accounts (cont)
Note 7 Creditors and accruals
Please complete this note if the charity has any creditors or accruals.
7.1 Analysis of creditors
Trade creditors Total
| Amounts falling due within oneyear |
Amounts falling due within oneyear |
Amounts falling due after more than oneyear |
Amounts falling due after more than oneyear |
|---|---|---|---|
| This year £000 |
Last year £000 |
This year £000 |
Last year £000 |
| 92 | 406 | 0 | 0 |
| 92 | 406 | 0 | 0 |
10
Section C Notes to the accounts (cont)
Note 8 Cash at bank and in hand
| Note 8 Cash at bank and in hand | ||
|---|---|---|
| Other Cash at bank and on hand Total Short term cash investments (less than 3 months maturity date) Short term deposits |
This year £000 |
Last year £000 |
| 0 | 0 | |
| 829 | 0 | |
| 4 | 296 | |
| 0 | 0 | |
| 833 | 296 |
11
Section C Notes to the accounts (cont)
Note 9 Events after the end of the reporting period
Please complete this note events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the
| Please provide details of the nature of the event Provide an estimate of the financial effect of the event or a statement that such an estimate cannot be made |
Thisyear Lastyear |
Thisyear Lastyear |
|---|---|---|
| None identified | Covid 19 pandemic | |
| None. | No impact on the accounts for 2019/20 but there may have been an effect on the value of future donations with an attendant impact on the ability of the charity to fund expenditure for Hospital equipment and facilities |
12
Section C Notes to the accounts (cont)
Note 10 Charity funds
10.1 Details of material funds held and movements during the CURRENT reporting period
Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.
* Key: R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
| Fund names | Type R or U* | Purpose and Restrictions | Fund balances brought forward |
Income | Expenditure | Fund balances carried forward |
|---|---|---|---|---|---|---|
| £000 | £000 | £000 | £000 | |||
| Urgent Care | U | Healthcare | 138 | 13 | (37) | 114 |
| Integrated Family Health | U | Healthcare | 75 | 13 | (67) | 21 |
| Central funds | U | Healthcare | 176 | 67 | (165) | 78 |
| Emergency Care | U | Healthcare | 401 | 119 | (56) | 464 |
| Central funds | R | Staff (related to Covid-19 donations) | 0 | 160 | (30) | 130 |
| Emergency Care | R | Endoscopy | 18 | 0 | 0 | 18 |
| Total Funds | 808 | 372 | (355) | 825 |
10.2 Details of material funds held and movements during the PREVIOUS reporting period
* Key: R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
| Fund names | Type R or U* | Purpose and Restrictions | Fund balances brought forward |
Income | Expenditure | Fund balances carried forward |
|---|---|---|---|---|---|---|
| £000 | £000 | £000 | £000 | |||
| Urgent Care | U | Healthcare | 190 | 26 | (78) | 138 |
| Integrated Family Health | U | Healthcare | 160 | 55 | (140) | 75 |
| Central funds | U | Healthcare | 517 | 141 | (482) | 176 |
| Emergency Care | U | Healthcare | 420 | 98 | (117) | 401 |
| Emergency Care | R | Endoscopy | 18 | 0 | 0 | 18 |
| Total Funds | 1,305 | 320 | (817) | 808 |
13
Section C Notes to the accounts (cont)
Note 11 Transactions with trustees and related parties
11.1 Trustee remuneration and benefits
In the period the charity trustees have received remuneration and benefits from Wye Valley NHS Trust which is linked to the charity.
| the charity. | ||||||
|---|---|---|---|---|---|---|
| Directors of the trustee | Legal authority (eg order, governing document) |
Amounts paid or benefit value | ||||
| Remuneration (bands of £5,000) |
Pension related benefit (bands of £2,500) |
Redundancy (including loss of office)/ex gratia |
Other | TOTAL (bands of £5k) |
||
| £000 £000 £000 £000 £000 |
||||||
| Mrs Sue Smith | WVT Exec Director | 20-25 | 0-2.5 | 0 | 0 | 20-25 |
| Mr Howard Oddy | WVT Exec Director | 115-120 | 22.5-25 | 0 | 0 | 135-140 |
| Mrs Lucy Flanagan | WVT Exec Director | 100-105 | 30-32.5 | 0 | 0 | 135-140 |
| Mr Jon Barnes | WVT Exec Director | 115-120 | 142.5-145 | 0 | 0 | 255-260 |
| Mr Glen Burley | WVT Exec Director | 45-50 | 0 | 0 | 2 | 45-50 |
| Mrs Jane Ives | WVT Exec Director | 135-140 | 25-27.5 | 0 | 5 | 165-170 |
| Mr David Mowbray | WVT Exec Director | 170-175 | 27.5-30 | 0 | 0 | 200-205 |
| Mr Geoffrey Etule | WVT Exec Director | 75-80 | 15-17.5 | 0 | 7 | 95-100 |
| Mr Russell Hardy | WVT Chairman | 15-20 | 0 | 0 | 0 | 15-20 |
| Mr Frank Myers MBE | WVT Non-Exec Dir | 10-15 | 0 | 0 | 0 | 10-15 |
| Mr Richard Humphries | WVT Non-Exec Dir | 10-15 | 0 | 0 | 0 | 10-15 |
| Mr Andrew Cottom | WVT Non-Exec Dir | 10-15 | 0 | 0 | 0 | 10-15 |
| Revd Christobel Hargraves | WVT Non-Exec Dir | 10-15 | 0 | 0 | 0 | 10-15 |
Please give details of why remuneration or other employment benefits were paid.
The remuneration paid relates to trustees roles as Executive and Non-Executive Directors of Wye Valley NHS Trust which is the host body and beneficiary of the Wye Valley NHS Trust Umbrella Charity.
11.2 Trustee Director's expenses
If the charity has paid expenses to Director's for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".
No trustee expenses have been incurred (True or False)
TRUE
14
Section C Notes to the accounts (cont)
11.3 Transaction(s) with related parties
Details of transactions undertaken by the charity in which a related party has a material interest, including where funds have been held as agent for related parties are detailed below. No donations were received from any of the charity trustees.
This year
There were related party transactions in the reporting period
| Name of the trustee or related party |
Relationship to charity | Description of the transaction(s) |
Amount | Balance at period end |
Provision for bad debts at period end |
Amounts written off during reporting period |
|---|---|---|---|---|---|---|
| £000 £000 £000 £000 |
||||||
| Wye Valley NHS Trust | The Directors of the Trust are members of the Trustee of the charity |
Staff/patient welfare and equipment |
355 | 92 | 0 | 0 |
In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.
Wye Valley NHS Trust makes payments on behalf of the charitable fund which are then fully reimbursed by the charity. All charitable purchases are made in line with procedures in place to authorise the use of funds. The arrangements for payment ensure that purchases are made in accordance with processes and systems in place ensuring financial governance and value for money. Funds to cover purchases by the charity are reimbursed to the trust.
For any related party, please provide details of any guarantees given or received.
No guarantees were given or received. Operating processes exist between the two related parties as described above.
Last year
There were related party transactions in the reporting period
| Name of the trustee or related party |
Relationship to charity | Description of the transaction(s) |
Amount | Balance at period end |
Provision for bad debts at period end |
Amounts written off during reporting period |
|---|---|---|---|---|---|---|
| £000 £000 £000 £000 |
||||||
| Wye Valley NHS Trust | The Directors of the Trust are members of the Trustee of the charity |
Staff/patient welfare and equipment |
817 | 406 | 0 | 0 |
In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.
Wye Valley NHS Trust makes payments on behalf of the charitable fund which are then fully reimbursed by the charity. All charitable purchases are made in line with procedures in place to authorise the use of funds. The arrangements for payment ensure that purchases are made in accordance with processes and systems in place ensuring financial governance and value for money. Funds to cover purchases by the charity are reimbursed to the trust.
For any related party, please provide details of any guarantees given or received.
No guarantees were given or received. Operating processes exist between the two related parties as described above.
15
INDEPENDENT EXAMINER’S REPORT TO THE WYE VALLEY NHS TRUST UMBRELLA CHARITY
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WYE VALLEY NHS TRUST UMBRELLA CHARITY
I report to the trustees on my examination of the accounts of The Wye Valley NHS Trust Umbrella Charity (“the Charity”) for the year ended 31 March 2021 which comprise the income and expenditure account, the balance sheet and the related notes 1 to 11.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. 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 work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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 because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michelle Hopton FCA for and on behalf of Deloitte LLP Leeds, United Kingdom
31 January 2022
16
| Wye ValleyNHS Trust Umbrella Charity | Wye ValleyNHS Trust Umbrella Charity | Wye ValleyNHS Trust Umbrella Charity | CharityNo | 1058898 | |
|---|---|---|---|---|---|
| Annualaccountsforthe period | |||||
| Period start date | 01-Apr-20 | To | 31-Mar-21 | ||
| Section A | Statement of financial activities | ||||
| Recommended categories by activity Note Incoming resources Income and endowments from: Donations and legacies 3. Investments 3 Resources expended Expenditure on: Raising funds 4. Charitable activities 4. Support costs 4. Reconciliation of funds: 10. Total Net movement in funds Total funds brought forward Total funds carried forward Total Net (expenditure)/income before investment gains Net (expenditure)/income Other recognised (losses)/gains |
Unrestricted funds Restricted income funds Total funds Prior year funds £000 £000 £000 £000 F01 F02 F04 F05 |
||||
| 206 | 160 | 366 | 309 | ||
| 6 | 0 | 6 | 11 | ||
| 212 | 160 | 372 | 320 | ||
| 41 | 0 | 41 | 49 | ||
| 265 | 30 | 295 | 750 | ||
| 19 | 0 | 19 | 18 | ||
| 325 | 30 | 355 | 817 | ||
| (113) | 130 | 17 | (497) | ||
| (113) | 130 | 17 | (497) | ||
| (113) | 130 | 17 | (497) | ||
| 790 | 18 | 808 | 1,305 | ||
| 677 | 148 | 825 | 808 |
All prior year income and expenditure is represented by unrestricted funds. Prior year support costs have been restated from charitable funds to support costs.
1
Section B Balance sheet
| Current assets Investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Total net assets or liabilities Funds of the Charity Restricted income funds Unrestricted funds Total funds Signed by one or two trustees on behalf of all the trustees |
Note 6. 8. 7. 10. 10. |
Unrestricted funds Restricted income funds Total this year Total last year £000 £000 £000 £000 |
Unrestricted funds Restricted income funds Total this year Total last year £000 £000 £000 £000 |
Unrestricted funds Restricted income funds Total this year Total last year £000 £000 £000 £000 |
Unrestricted funds Restricted income funds Total this year Total last year £000 £000 £000 £000 |
|---|---|---|---|---|---|
| 84 | 0 | 84 | 918 | ||
| 674 | 159 | 833 | 296 | ||
| 758 | 159 | 917 | 1,214 | ||
| 81 | 11 | 92 | 406 | ||
| 677 | 148 | 825 | 808 | ||
| 677 | 148 | 825 | 808 | ||
| 677 | 148 | 825 | 808 | ||
| 0 | 148 | 148 | 18 | ||
| 677 | 0 | 677 | 790 | ||
| 677 | 148 | 825 | 808 | ||
| Signature | Print Name | Date of approval dd/mm/yyyy |
|||
| Katie Osmond | 08/02/2022 |
2
Section C Notes to the accounts
Note 1 Basis of preparation
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities • and with preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of • and with Ireland (FRS 102)
- and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Confirmed
1.2 Going concern
The charity is a going concern. The charity's expenditure in 2020/21 reflects income received plus a movement in the value of reserves within the scope of the reserves policy. Charitable expenditure is flexed in order to reflect income received. The charity does not have significant future liabilities it is obliged to meet.
The major funds held in each of these categories are disclosed in Note 10. The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s financial statements.
The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2.
1.3 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
1.4 Material prior year errors
No material prior year error have been identified in the reporting period.
3
Section C Notes to the accounts (cont)
Note 2 Accounting policies
2.1 INCOME
This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additional policy has been adopted then this is detailed in the box below.
| Recognition of income In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP). Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Settlement of insurance claims Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA. Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable. Support costs The charity has incurred expenditure on support costs. Volunteer help · it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. Donated goods Contractual income and performance related grants Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS [Financial Reporting Standard] 102 SORP [Statement of recommended practice] or FRS 102. Grants and donations Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). Tax reclaims on donations and gifts Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. These are included in the Statement of Financial Activities (SoFA) when: the charity becomes entitled to the resources; This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions. Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution. Donated services and facilities Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Income from interest, royalties and dividends This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable. The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. |
Yes No N/a |
Yes No N/a |
Yes No N/a |
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| Yes No N/a |
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| Yes No N/a |
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| Yes No N/a |
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| Yes No N/a |
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4
Investment gains and This includes any realised or unrealised gains or losses on the sale of investments and losses any gain or loss resulting from revaluing investments to market value at the end of the year.
| 2.3 ASSETS Intangible fixed assets Heritage assets 2.2 EXPENDITURE AND LIABILITIES Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. losses any gain or loss resulting from revaluing investments to market value at the end of the year. Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. Grants payable without performance conditions Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised. The charity has no tangible fixed assets. Redundancy cost The charity made no redundancy payments during the reporting period. Deferred income No material item of deferred income has been included in the accounts. Creditors The only governance costs incurred relate to the cost of the independent examination of the accounts and annual report. The cost incurred in the current and prior year was £1k. Governance and support costs Support costs include governance costs. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Stocks and work in progress Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value. The charity has no heritage assets, that is, no non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. Depreciation rates and methods do not apply. The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS 102 SORP. Tangible fixed assets for use by charity As there are no tangible assets, depreciation does not apply. The charity has no intangible fixed assets, that is, no non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. Therefore amortisation rates and methods do not apply. The charity has creditors which are measured at settlement amounts less any trade discounts. Provisions for liabilities A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. Basic financial instruments Investments Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Current asset investments The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due. They are valued at fair value except where they qualify as basic financial instruments. |
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5
Section C Notes to the accounts (cont)
Note 3 Analysis of income
| Note 3 Analysis of income | Analysis of income | ||||
|---|---|---|---|---|---|
| Donations and gifts GiftAid Legacies Total Interestincome Total Analysis Donations and legacies: TOTAL INCOME Income from investments: |
Analysis | Unrestricted funds Restricted income funds Total funds Prior year £000 £000 £000 £000 |
|||
| Donations and gifts | 132 | 160 | 292 | 290 | |
| GiftAid | 1 | 0 | 1 | 1 | |
| Legacies | 73 | 0 | 73 | 18 | |
| Total | 206 | 160 | 366 | 309 | |
| Interestincome | 6 | 0 | 6 | 11 | |
| 6 | 0 | 6 | 11 | ||
| 212 | 160 | 372 | 320 |
Other information:
Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)
The income identified includes significant contributions in the form of one legacy of £60,000.
The Trust has also been in receipt of income donations totalling £158,600 from NHS Together, the national charity formed to receive and distribute donations arising from the Covid-19 pandemic. This is recorded within the Restricted income funds category.
6
Section C Notes to the accounts (cont)
Note 4 Analysis of expenditure
| Note 4 Analysis of | expenditure | expenditure | expenditure | expenditure | expenditure | expenditure | expenditure | expenditure |
|---|---|---|---|---|---|---|---|---|
| Analysis Expenditure on raising funds: |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £000 £000 £000 £000 £000 £000 £000 £000 This year Last year |
|||||||
| Fundraising agents | 41 | 0 | 0 | 41 | 49 | 0 | 0 | 49 |
| Expenditure on charitable activities: Total expenditure on raising funds |
41 | 0 | 0 | 41 | 49 | 0 | 0 | 49 |
| Patients welfare and amenities | 109 | 16 | 0 | 125 | 145 | 0 | 0 | 145 |
| Staff welfare and amenities | 25 | 14 | 0 | 39 | 25 | 0 | 0 | 25 |
| Staff Training | 6 | 0 | 0 | 6 | 25 | 0 | 0 | 25 |
| Contributions to NHS: | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchase of new equipment | 125 | 0 | 0 | 125 | 555 | 0 | 0 | 555 |
| Miscellaneous | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total expenditure on charitable activities Expenditure on support costs: |
265 | 30 | 0 | 295 | 750 | 0 | 0 | 750 |
| Support and adminstrative costs | 19 | 0 | 0 | 19 | 18 | 0 | 0 | 18 |
| TOTAL EXPENDITURE Total |
19 | 0 | 0 | 19 | 18 | 0 | 0 | 18 |
| 325 | 30 | 0 | 355 | 817 | 0 | 0 | 817 |
Other information:
Analysis of expenditure on charitable activities and support costs:
| Thisyear | Thisyear | Thisyear | Thisyear | Lastyear | Lastyear | Lastyear | Lastyear | |
|---|---|---|---|---|---|---|---|---|
| Activity or programme | Activities undertaken directly |
Grant funding of activities |
Support Costs |
Total this year |
Activities undertaken directly |
Grant funding of activities |
Support Costs |
Total last year |
| £000 £000 £000 £000 £000 £000 £000 £000 |
||||||||
| Patientwelfare and amenities | 125 | 0 | 8 | 133 | 145 | 0 | 3 | 148 |
| Staff welfare and amenities | 39 | 0 | 3 | 42 | 25 | 0 | 1 | 26 |
| Stafftraining | 6 | 0 | 0 | 6 | 25 | 0 | 1 | 26 |
| Contributions toNHS | 0 | 0 | 8 | 8 | 0 | 0 | 0 | 0 |
| Purchase of newequipment | 125 | 0 | 0 | 125 | 555 | 0 | 13 | 568 |
| Total | 295 | 0 | 19 | 314 | 750 | 0 | 18 | 768 |
Support costs identified above includes governance costs of £1k in respect of the accounts external examination fee (2019/20, £1k). Support costs also includes administrative staff and office costs.
7
Section C Notes to the accounts
Note 5 Details of certain items of expenditure
5.1 Fees for examination of the accounts
Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).
Independent examiner’s fees
| Thisyear | Lastyear |
|---|---|
| £000 | £000 |
| 1 | 1 |
8
Section C Notes to the accounts (cont)
Note 6 Investment assets
6.1 Please provide a breakdown of current asset investments, if applicable, agreeing with the balance sheet.
| Total Analysis of current asset investments Cash or cash equivalents |
This year | Last year |
|---|---|---|
| £000 | £000 | |
| 84 | 918 | |
| 84 | 918 |
9
Section C Notes to the accounts (cont)
Note 7 Creditors and accruals
Please complete this note if the charity has any creditors or accruals.
7.1 Analysis of creditors
Trade creditors Total
| Amounts falling due within oneyear |
Amounts falling due within oneyear |
Amounts falling due after more than oneyear |
Amounts falling due after more than oneyear |
|---|---|---|---|
| This year £000 |
Last year £000 |
This year £000 |
Last year £000 |
| 92 | 406 | 0 | 0 |
| 92 | 406 | 0 | 0 |
10
Section C Notes to the accounts (cont)
Note 8 Cash at bank and in hand
| Note 8 Cash at bank and in hand | ||
|---|---|---|
| Other Cash at bank and on hand Total Short term cash investments (less than 3 months maturity date) Short term deposits |
This year £000 |
Last year £000 |
| 0 | 0 | |
| 829 | 0 | |
| 4 | 296 | |
| 0 | 0 | |
| 833 | 296 |
11
Section C Notes to the accounts (cont)
Note 9 Events after the end of the reporting period
Please complete this note events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the
| Please provide details of the nature of the event Provide an estimate of the financial effect of the event or a statement that such an estimate cannot be made |
Thisyear Lastyear |
Thisyear Lastyear |
|---|---|---|
| None identified | Covid 19 pandemic | |
| None. | No impact on the accounts for 2019/20 but there may have been an effect on the value of future donations with an attendant impact on the ability of the charity to fund expenditure for Hospital equipment and facilities |
12
Section C Notes to the accounts (cont)
Note 10 Charity funds
10.1 Details of material funds held and movements during the CURRENT reporting period
Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.
* Key: R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
| Fund names | Type R or U* | Purpose and Restrictions | Fund balances brought forward |
Income | Expenditure | Fund balances carried forward |
|---|---|---|---|---|---|---|
| £000 | £000 | £000 | £000 | |||
| Urgent Care | U | Healthcare | 138 | 13 | (37) | 114 |
| Integrated Family Health | U | Healthcare | 75 | 13 | (67) | 21 |
| Central funds | U | Healthcare | 176 | 67 | (165) | 78 |
| Emergency Care | U | Healthcare | 401 | 119 | (56) | 464 |
| Central funds | R | Staff (related to Covid-19 donations) | 0 | 160 | (30) | 130 |
| Emergency Care | R | Endoscopy | 18 | 0 | 0 | 18 |
| Total Funds | 808 | 372 | (355) | 825 |
10.2 Details of material funds held and movements during the PREVIOUS reporting period
* Key: R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
| Fund names | Type R or U* | Purpose and Restrictions | Fund balances brought forward |
Income | Expenditure | Fund balances carried forward |
|---|---|---|---|---|---|---|
| £000 | £000 | £000 | £000 | |||
| Urgent Care | U | Healthcare | 190 | 26 | (78) | 138 |
| Integrated Family Health | U | Healthcare | 160 | 55 | (140) | 75 |
| Central funds | U | Healthcare | 517 | 141 | (482) | 176 |
| Emergency Care | U | Healthcare | 420 | 98 | (117) | 401 |
| Emergency Care | R | Endoscopy | 18 | 0 | 0 | 18 |
| Total Funds | 1,305 | 320 | (817) | 808 |
13
Section C Notes to the accounts (cont)
Note 11 Transactions with trustees and related parties
11.1 Trustee remuneration and benefits
In the period the charity trustees have received remuneration and benefits from Wye Valley NHS Trust which is linked to the charity.
| the charity. | ||||||
|---|---|---|---|---|---|---|
| Directors of the trustee | Legal authority (eg order, governing document) |
Amounts paid or benefit value | ||||
| Remuneration (bands of £5,000) |
Pension related benefit (bands of £2,500) |
Redundancy (including loss of office)/ex gratia |
Other | TOTAL (bands of £5k) |
||
| £000 £000 £000 £000 £000 |
||||||
| Mrs Sue Smith | WVT Exec Director | 20-25 | 0-2.5 | 0 | 0 | 20-25 |
| Mr Howard Oddy | WVT Exec Director | 115-120 | 22.5-25 | 0 | 0 | 135-140 |
| Mrs Lucy Flanagan | WVT Exec Director | 100-105 | 30-32.5 | 0 | 0 | 135-140 |
| Mr Jon Barnes | WVT Exec Director | 115-120 | 142.5-145 | 0 | 0 | 255-260 |
| Mr Glen Burley | WVT Exec Director | 45-50 | 0 | 0 | 2 | 45-50 |
| Mrs Jane Ives | WVT Exec Director | 135-140 | 25-27.5 | 0 | 5 | 165-170 |
| Mr David Mowbray | WVT Exec Director | 170-175 | 27.5-30 | 0 | 0 | 200-205 |
| Mr Geoffrey Etule | WVT Exec Director | 75-80 | 15-17.5 | 0 | 7 | 95-100 |
| Mr Russell Hardy | WVT Chairman | 15-20 | 0 | 0 | 0 | 15-20 |
| Mr Frank Myers MBE | WVT Non-Exec Dir | 10-15 | 0 | 0 | 0 | 10-15 |
| Mr Richard Humphries | WVT Non-Exec Dir | 10-15 | 0 | 0 | 0 | 10-15 |
| Mr Andrew Cottom | WVT Non-Exec Dir | 10-15 | 0 | 0 | 0 | 10-15 |
| Revd Christobel Hargraves | WVT Non-Exec Dir | 10-15 | 0 | 0 | 0 | 10-15 |
Please give details of why remuneration or other employment benefits were paid.
The remuneration paid relates to trustees roles as Executive and Non-Executive Directors of Wye Valley NHS Trust which is the host body and beneficiary of the Wye Valley NHS Trust Umbrella Charity.
11.2 Trustee Director's expenses
If the charity has paid expenses to Director's for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".
No trustee expenses have been incurred (True or False)
TRUE
14
Section C Notes to the accounts (cont)
11.3 Transaction(s) with related parties
Details of transactions undertaken by the charity in which a related party has a material interest, including where funds have been held as agent for related parties are detailed below. No donations were received from any of the charity trustees.
This year
There were related party transactions in the reporting period
| Name of the trustee or related party |
Relationship to charity | Description of the transaction(s) |
Amount | Balance at period end |
Provision for bad debts at period end |
Amounts written off during reporting period |
|---|---|---|---|---|---|---|
| £000 £000 £000 £000 |
||||||
| Wye Valley NHS Trust | The Directors of the Trust are members of the Trustee of the charity |
Staff/patient welfare and equipment |
355 | 92 | 0 | 0 |
In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.
Wye Valley NHS Trust makes payments on behalf of the charitable fund which are then fully reimbursed by the charity. All charitable purchases are made in line with procedures in place to authorise the use of funds. The arrangements for payment ensure that purchases are made in accordance with processes and systems in place ensuring financial governance and value for money. Funds to cover purchases by the charity are reimbursed to the trust.
For any related party, please provide details of any guarantees given or received.
No guarantees were given or received. Operating processes exist between the two related parties as described above.
Last year
There were related party transactions in the reporting period
| Name of the trustee or related party |
Relationship to charity | Description of the transaction(s) |
Amount | Balance at period end |
Provision for bad debts at period end |
Amounts written off during reporting period |
|---|---|---|---|---|---|---|
| £000 £000 £000 £000 |
||||||
| Wye Valley NHS Trust | The Directors of the Trust are members of the Trustee of the charity |
Staff/patient welfare and equipment |
817 | 406 | 0 | 0 |
In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.
Wye Valley NHS Trust makes payments on behalf of the charitable fund which are then fully reimbursed by the charity. All charitable purchases are made in line with procedures in place to authorise the use of funds. The arrangements for payment ensure that purchases are made in accordance with processes and systems in place ensuring financial governance and value for money. Funds to cover purchases by the charity are reimbursed to the trust.
For any related party, please provide details of any guarantees given or received.
No guarantees were given or received. Operating processes exist between the two related parties as described above.
15
INDEPENDENT EXAMINER’S REPORT TO THE WYE VALLEY NHS TRUST UMBRELLA CHARITY
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WYE VALLEY NHS TRUST UMBRELLA CHARITY
I report to the trustees on my examination of the accounts of The Wye Valley NHS Trust Umbrella Charity (“the Charity”) for the year ended 31 March 2021 which comprise the income and expenditure account, the balance sheet and the related notes 1 to 11.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. 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 work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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 because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michelle Hopton FCA for and on behalf of Deloitte LLP Leeds, United Kingdom
31 January 2022
16