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← Herefordshire And Worcestershire Health And Care NHS Trust Charitable Funds

2025-03-31-accounts

NHS Herefordshire and Worcestershire Health and Care NHS Trust Charitable Funds Annual Report 2024/2025 Working Together for Outstanding Care

Contents Foreword 1. Charity Governance, Structure and Management Arrangements 2. Goals, Objectives and Activities 3. Grant Making Policy 4. Financial Policy 10 5. Plans for future periods 13 Financial Accounts Independent Examiners Report 16 Statement of Financial Activities 17 Balance Sheet 18 Statement of Cashflow 19 Accounting Policies 20 21 Hereford5hire and Worcestershire Health & Care NHS Trust Charitable Funds Annual Report and Account5 2024/25 Registration number- 1060335

Foreward This document records the activities and Financial Accounts for the financial year l April 2024 to 31 March 2025. The Charity's report and accounts include all the separately established funds administered for the public benefit by Herefordshire and Worcestershire Health and Care NHS Trust on behalf of the Charity. All the charitable funds held are for the benefit of patients and staff, their carers and the communities served. The patients of Herefordshire and Worcestershire Health and Care NHS Trust are the main beneficiaries of the Charity. The Charity has a corporate trustee, Herefordshire and Worcestershire Health and Care N HS Trust. The members of the NHS Trust Board who sen4ed during the financial year were as follows: Mr M. Yates Mrs S. Dugan Mr R. Mackie Dr J. Devapriam Mr M. Hall Ms D. Lewis Ms N. Willetts Ms V. Allison Ms J. Clarke Ms C Cumino Ms S. Hincks Mr C. Horwarth Mr B. Parmar Chair Chief Executive (left the Trust 14 April 2024) Director of Finance and Interim Chief Executive (effective 14 April 2024) Medical Director Chief Operating Officer Interim Director of Finance (effective 14 April 2024) Director of Nursing and Quality Non-Executive Director Non-Executive Director Non-Executive Director Associate Non-Executive Director Associate Non-Executive Director Non-Executive Director The Charity is registered with the Charity Commission (No.1060335) in accordance with the Charities Act 2011. 31 Hereford5hire and Worcestershire Health & Care NHS Trust Charitable Funds Annual Report and Account5 2024/25 Registration number- 1060335

Reference and administrative details The Charity was registered on the Central Register of Charities on the 23 January 1997 under its predecessor name Worcestershire Mental Health Partnership NHS Trust Charity. The Charity comprises of a single fund following the consolidation of 10 linked charities as at 12 July 2017. For administrative purposes the notes to the accounts distinguish the types of fund held and disclose separately all material funds. In April 2020 the Trust took over responsibility for mental health and learning disability service5 in Herefordshire, and in turn the charity has updated its name in line with the Trust which better reflects the broader services we provide and the wider community we serve. Charitable funds received by the Charity are accepted, held and administered as funds and property held on trust relating to the health service in accordance with the National Health Service Act 1977, and the National Health Service and Community Care Act 1990 and these funds are held on trust by the Corporate Trustee. Trustee Herefordshire and Worcestershire Health and Care NHS Trust is the Corporate Trustee of the Charity governed by the law applicable to Trusts, principally the Trustee Act 2000 and the Charities Act 2011. The NHS Trust Board has delegated the authority for the management of the Charity to the Trust's Charitable Funds Committee which administers the funds on behalf of the Corporate Trustee. This committee was formed in January 1997 to increase the profile of the charitable funds within the organisation and to enhance the management structure of the Charity. The Committee meets at least three times a year to review and agree: Performance of investments Spending priorities Fundraising requests Use of legacies received Governance arrangements Regular reports to the Trust Board on activity, performance and risks of the Charity The names of those people who served as agents for the Corporate Trustee, as permitted under regulation 16 of the NHS Trusts (Membership and Procedures) regulations 1990 were as follows: Ms S. Hincks - Associate Non-Executive Director (appointed as Committee Chairl Ms C. Cumino - Associate Non-Executive Director Ms D Lewis- Director of Finance Mr R Haslam- Deputy Director of Finance Mr C. Lavalette- Head of Finance (Systems, Reporting and Planning) Ms K. Stanbra - Associate Director of Countywide Community Services 41 Hereford5hire and Worcestershire Health & Care NHS Trust Charitable Funds Annual Report and Account5 2024/25 Registration number- 1060335

Attendance at the Charitable Funds Committee in the financial year was as below: May 2024 July 2024 November February 2025 2024 S Hincks C Cumino D Lewis R Haslam C Lavalette K Stanbra H Wilson. E Caswell W Papirnik H Wahiwala **

Observer Mr E. Caswell- Royal Bank Canada Brewin Dolphin (Investment Advisor)

Mr W. Papirnik- Royal Bank Canada Brewin Dolphin (Investment Advisor)

Ms H. Wahiwala- Royal Bank Canada Brewin Dolphin (Investment Advisor) Principal Charitable Fund adviser to the Board The Chair of the Charitable Funds Committee, under a scheme of delegated authority approved by the Corporate Trustee, has day-to-day responsibility for the management of the charitable funds and must personally approve, on behalf of the Corporate Trustee all expenditure above £2,000 using their delegated authority and will seek approval from the Committee for any expenditure in excess of £7,500. The Charitable Funds Committee advises the Trust Board about the use of the charitable funds and oversees the day-to-day operation of those funds. Legal and Administrative The principal office for the Charity is: Finance Department, Herefordshire and Worcestershire Health and Care NHS Trust 2 Kings Court, Charles Hastings Way. Worcester. Worcestershire WR5 IJR Legal Advisors Mills and Reeve 78-84 Colmore Row Birmingham B3 2AB Bankers Lloyds Bank PLC The Cross Worcester Worcestershire WRI 3PY Investment Advisors Royal Bank of Canada Brewin Dolphin 9 Colmore Row Birmingham B3 2BJ Independent Examiners Deloitte 2 New Street Square, London, EC4A 3BZ Internal Auditors Assurance 360 Wayside House Wilsons Lane Coventry CV6 6NY 51 Hereford5hire and Worcestershire Health & Care NHS Trust Charitable Funds Annual Report and Account5 2024/25 Registration number- 1060335

  1. Charity governance, structure and management arrangements The Charity was established using the statutory remit contained within the NHS Act 2006 and all funds held on trust as at the date of registration were part of this Charity. Subsequent donations and gifts received by the Charity which are attributable to the original funds are added to those fund balances within the existing Charity. In line with our charitable objectives, our purpose is to support any charitable activity relating to the NHS, applying donations to improve patient care throughout the Trust, particularly in areas not otherwise funded by core NHS budgets. The Corporate Trustee fulfils its legal duty by ensuring that funds are spent in accordance with the objectives of each fund. By designating funds, the Trustee respects the wishes of our generous donors to benefit patient care and advance the good health and welfare of patients, their carers and the Staff who look after them. Where funds have been received which have specific restrictions set by the donor, a restricted fund will be established. Members of the Trust Board and the Charitable Funds Committee are not individual trustees under charity law but act as agents on behalf of the Corporate Trustee. Non-Executive members of the Trust Board are appointed by the NHS England, Executive members and Associated Non-Executive Members of the Board are subject to recruitment by the NHS Trust Board. Acting for the Corporate Trustee, the Charitable Funds Committee is responsible for the overall management of the charitable funds. The Committee is required to: i) Control, manage and monitor the use of the Charit(s resources for the public benefit, having regard for the guidance issued by the Charity Commission. ii) Provide support, guidance and encouragement for all its income raising activities whilst managing and monitoring the receipt of all income. iii) Ensure that 'best practice" is followed in the conduct of all its affairs fulfilling all of its legal responsibilities. iv) Ensure that the Investment Policy approved by the Corporate Trustee is adhered to and that performance is continually reviewed whilst being aware of ethical considerations. v) Keep the Trust Board fully informed on the activity, performance and risks of the Charity. The Corporate Trustee has complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The Charity does not employ any staff and in order to keep transaction costs to a minimum and to simplify the process, the Charity relies upon staff employed by the Trustee to identify the appropriateness of funding requests. The charity ha5 not taken exemption from disclosure of any governance or management detail5. The charitable funds available for spending are allocated to specialities within the NHS Trust's Service Delivery Unit management structure. Each allocation is managed by use of designated funds within the Charity. The accounting records and the day-to-day administration of the funds are dealt with by the Finance Department located at Herefordshire and Worcestershire Health and Care NHS Trust, 2 Kings Court, Charles Hastings Way, Worcester, Worcestershire. WR5 IJR. 61 Hereford5hire and Worcestershire Health & Care NHS Trust Charitable Funds Annual Report and Account5 2024/25 Registration number- 1060335

1.1 Training and development The Charity takes an active role in the training and development of Trust Board members. Where new Board Members are appointed they receive individual induction training and are provided with information about the Charity, including: the governing documents; the Charitable Funds Committee terms of reference; the Charity's latest annual report and accounts; investment principles- policies and procedures; and information about trusteeship, including the Charity Commission's 'Charity trustee welcome pack, and other Charity Commission guidance specific to NHS Charities. Additionally, the Charitable Funds Committee will arrange further training as appropriate. 1.2 Risk management The Charitable Funds Committee reviews the performance of the fund on a quarterly, year to date and annual basis. Items reported to the Committee include the value of the investments compared with the previous quarter, the balance of cash reserves held throughout the year, the amount of income and expenditure for the quarter and future spending plans. Any potential risks arising from the report are highlighted in the meeting and discussed. After each meeting of the Charitable Funds Committee, the Chair presents a report to the Board of Directors to update it on the most recent work of the Committee providing assurances and escalating matters for further discussion as necessary. The most Significant risk to the Charity is possible losse5 from a fall in the value of the investments it holds and the level of reserves available to mitigate the impact of such105ses. This has been carefully considered and there are procedures in place to review the Investment Policy, ensuring that investment risks are kept to an acceptably low level and to ensure that both spending and firm financial commitments remain in line with income. 1.3Wider networks and related parties Herefordshire and Worcestershire Health and Care NHS Trust is a related party by virtue of being the Corporate Trustee of the Charity. The Charity works closely with the Trust as nearly all of the expenditure is to provide services and facilities to the Trust's service users, carers, visitors and members of staff. By working in partnership, the charitable funds are used to best effect for the benefit of service users, carers, visitors and staff. When deciding upon the most beneficial way to use charitable funds, the Corporate Trustee has regard to both the objectives of the Charity and also the activities, objectives, Strategies and plans of the Trust. 71 Hereford5hire and Worcestershire Health & Care NHS Trust Charitable Funds Annual Report and Account5 2024/25 Registration number- 1060335

  1. Goal, objectives and activities 2.1 Goal The Charity's goal is to help the service users. their families and carers, and visitors to the NHS Trust, by enhancing the care the NHS Trust can offer through new equipment, research and investment in people and by creating a caring environment for the service users receiving care, along with their families and visitors. During the year, the funds continued to support a wide range of charitable and health related activities benefiting service users, carers, visitors and staff. 2.2 Objectives The Charitable Trust's governing document, the Declaration of Trust, incorporates the object or purpose of the Charity which is that: 'The trustee shall hold the trust fund upon trust to apply income, and at their discretion, so far as may be permissible, the capital, for any charitable purpose or purposes relating to the National Health Service (hereinafter referred to as "the objects") The Trustee has made the following statement to focus on the objectives: 'Through donations received we will further improve the provision of high-quality patient care throughout the Trust, focusing on areas not covered or fully supported by central NHS funds" The Charity has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. 2.3 Activities The focus of our charitable work is for public benefit and to advance patient care, firstly by funding therapies, equipment and facilities and secondly through supporting service users, their carers, visitors and NHS staff. During the year, the charitable funds continued to support a wide range of health related activities benefiting service users, their carers and the staff who care for them with highlights set out on section 4.2. In general, the Trustee's approach is to use charitable funds to purchase additional goods and services which enhance the senlice users, experience and environment. In addition to funds intended to meet the needs of patients directly, our charitable funds often receive donations specifically to thank the nursing staff who care for the service users. These funds, by helping the staff either by way of training or morale boosting facilities and amenities, strengthen the NHS Trust's staff capacity to serve their patients and their visitors well. The charitable funds also enable consultants and other medical staff to attend courses not funded by the NHS, which will update them on new ideas and modern techniques in their specialties. During the year 2025/26, the Charitable Funds Committee will carry out its annual review of fund balances and the overall future objectives and direction of the Charity. 81 Hereford5hire and Worcestershire Health & Care NHS Trust Charitable Funds Annual Report and Account5 2024/25 Registration number- 1060335

  2. Grant making policy Applications may be made for items which the NHS would not normally fund and if they can be classified as charitable activities. The Charity make5 grants from both its unrestricted and restricted funds. Restricted funds represent money which is held by the Trustee which can only be used for specified purposes. Unrestricted funds are funds available to be spent within the objects of the charity which can legally be spent wholly at the discretion of the Trustee. These funds have been apportioned between a trust-wide general fund and four other funds aligned with the services delivered by the Herefordshire and Worcestershire Health and Care NHS Trust: l. General fund where the Charity has invited the Trust's employees to submit plans for specific projects with a Trust-wide benefit or providing further financial support to specific Service Delivery projects.

  3. Service Delivery funds represent four separate funds which the Trustee has created to accord with sections 90 and 91 of the National Health Service Act 1977 which require that the Trustee respects, as far as practicable, the specific intentions of the gifts received through wards, departments and specialties. The Trustee ensures that those gifts are channelled towards charitable purposes in those areas. Each fund is managed by the associated Service Delivery Lead, who can make recommendations on how to spend the money within their designated area. As long as the request meets the objects of the Charity, the Fund managers, recommendations are generally accepted, subject to a review process and confirmation that funds are available. 91 Hereford5hire and Worcestershire Health & Care NHS Trust Charitable Funds Annual Report and Account5 2024/25 Registration number- 1060335

  4. Financial performance The net assets of the Charitable Funds as at 31 March 2025 were £1,038,463 (31 March 2024 were £1,120,314}. Overall net assets have reduced by £81,851 which includes a reduction of £7,145 on investment assets. These assets have reduced in-year due to the funding to several significant one- off projects as set out in note 4.2. The charity remains fully sustainable as it has no long-term commitments and can scale spend in line with income availability. The Charity continues to rely on donations, legacies and investment income as the main sources of revenue, amounting to £134,225 in 2024/251£91.782 - 2023/24). The following pie chart shows the split between the main sources of income. Sources of Incoming Resources 2024125 24% 25% Donations from indwiduals Corporate donations FurKls f rom other Charities 1% Funds from other NHS Charities Legacies 18Yo Investment income 4.1 Incoming resources Donations from individuals1£33,7351- from a few pence in a collecting box to several hundred pounds from grateful relatives, we are fortunate to receive thousands of generous gifts each year. Corporate Donations {£1,5001 many companies adopt charities as a way of putting something back into the community. The Charity is grateful to the companies that have donated over the year and to their employees who have given their time and money to maximise the corporate sUPPOrt we receive. Funds from other Charities {£21,745) This year the Trust received donations from local League of Friends charities in support of the purchase of medical equipment. Funds from other NHS Charities {£21,149) This year the Trust received a further grant from NHS Charities Together to support of the wellbeing of staff. Legacies {£23,950) a gift in a will or a collection in memory of a loved one is a valued way of donating to charity. Investment Income (£32,176) - by prudent management of fund5 not immediately required for use, the Charity earns interest and dividends. 10 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

4.2 Resources expended During the year a variety of grant-based expenditure took place; this is summarised below and also shown in the pie chart: Expenditure Summary2024125 staff education and welfare 22¥0 41% ll Patients, welfare - entertain￿￿nt & recreation 3Yo Patients, welfare - furniture nd equipment Patients, welfare medical and no[F￿diCal equipmetbt Patients, edu(3tion and welfare 14% Investment man38ement costs 7% 11% Fl Govemance costs Staff education and welfare (£89,078):_ included £38,815 Spent on team-building and reconnecting events, including Christmas events bringing staff together; £30,947 enhancing outdoor staff areas including the Evesham Musculoskeletal Outpatient Physiotherapy Team Courtyard, along with £16,968 on external courses to fund training requests for staff developing the support they offer service users; with smaller amounts spent on books, manuals and enhancing team rest areas. Patients, Welfare (entertainment and recreation (£24,434)) ranged from new artwork and TVS in wards to help enhance service users areas. Other examples of spend in-year have included purchasing sensory toy5 for the Moor Street Clinic, and sports hall hire for services users, badminton sessions. Patients, Welfare (furniture and equipment (£15,367)) which has included purchases ranging from small items of furniture and equipment through to new bedside lockers at the Malvern Community Hospital. Patients, Welfare (medical and non-medical equipment (£29,776)) which includes new equipment making a vital and valuable contribution to enhanced provision of clinical care. Patients, education and welfare (£3,621) the purchase and printing of leaflets to support service users and their carers. Investment Management Costs (£7,161) - relating to investment broker fees. Support Costs {£47,6951- including a total of £34,209 on administrative support Costs, £7,080 on independent examiner fees, £3,184 on software maintenance, £1750 on membership fees along with printing and stationery, and bank charges. 11 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

4.3 Reserves Reserves are calculated as being the Charity's income funds which are freely available after taking account of restricted funds which have been designated by the donor for specific building or major equipment purchases, research and other projects. The Trustee intends that restricted and designated funds are spent within a reasonable period of receipt and therefore foresees a need only to maintain reserves sufficient to provide certainty of funding for general grant making. The restricted funds total £287k, whi15t unrestricted funds currently Stand at £751k. The Trustee has established a Reserves Policy with the intention of avoiding major fluctuations in the amounts of income available for distribution and for unforeseen contingencies by retaining £50k of cash reserves in exce55 of known expenditure commitments. When the amounts of cash held deviate from the Charity's reserve's policy a transfer between cash and investments held is made. The Trustee continues to review the balances held in restricted and designated funds, in accordance with the provisions of the NHS Acts relating to charitable funds, to determine whether these funds are likely to be committed in the near future and the extent to which there is a continuing need identified for any particular designated fund. All existing funds are reviewed annually to identify activity recorded and to encourage their utilisation. 4.4 Investments The Charity's Fixed Assets Investments are managed by Royal Bank of Canada Brewin Dolphin Ltd on a discretionary basis with reference to a formal Statement of Investment Principles. The performance figures of the portfolio are set out below on a total return basis in comparison against other key indices: Year ended 31 March 2025 Year ended 31 March 2024 Investment Portfolio: PIMFA Private Investors Balanced Index: FTSE All Share Index: FTSE 100 Index: 2.37% 4.58% 6.58% 11.52% 12.20% 8.43Y. 8.380 The Statement of Investment Principles is reviewed annually as are the investment portfolio objectives and attitude to risk. The breakdown of the investment portfolio by type was: 31 March 2025 31 March 2024 Portfolio Value (£) 173,739 23,647 26,545 146,714 532,381 35,664 Value (£) 163,371 26,959 28,947 161,121 526,337 {%) Fixed Interest 17.68% Property Investments Structured Products 2.410 2.70% UK Equities Overseas Equity Funds Absolute Return Fund 14.93% 16.28% 54.17% 3.63% 2.93° Other alternatives Portfolio Total 4.480 £982 760 100.0% £989 906 100.0% 12 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

The following pie chart shows the split between the main sources of income. At the year end, the geographical spread of the portfolio was as follows: Area UK USA Japan Asia Pacific Other European markets Emerging Markets General global investments 2025 33.73° 35.19% 3.31° 5.82% 6.39Y. 0.99Y. 2024 21.60Yo 32.72Yo 3.43° 5.17° 5.80°A 0.99% 5. Plans for future periods The many changes in the NHS, including efficiency review5, continue to shape the environment in which the Charity operates and the priorities of the Charity are affected by changes in the NHS. The reconfiguration of services and the plans for redesigning patient care to meet the needs of the future will continue to influence the priorities for spending of the charitable funds. The Trustee does not expect any significant changes in the objectives of the Charity in the forthcoming year. Thank you On behalf of the staff and patients who have benefited from improved services and facilities due to donations and legacies, the Corporate Trustee would like to thank all patients and relatives and staff who have made charitable donations. Your donations, no matter how small, make a real difference to the lives to the people who come to us for help. Approved on behalf of the Corporate Trustee; Sue Hincks Chair Charitable Funds Committee Herefordshire and Worcestershire Health and Care NHS Trust Date: 28th January 2026 13 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

STATEMENT OF TRUSTEE RESPONSIBILITIES IN RESPECT OF THE TRUSTEE'S REPORT AND THE FINANCIAL STATEMENTS The trustees are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" The law applicable to charities in England and Wales requires the trustees to prepare financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP. make judgments and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in busine55. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregu larities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Signed on behalf of the Trustee: Sue Hincks Chair Charitable Funds Committee Herefordshire and Worcestershire Health and Care NHS Trust Date: 28th January 2026 14 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

Charitable Funds case study Evesham Community Hospital's Courtyard: A Space for Staff Well-being When the Trust was awarded a grant from NHS Charities Together, it opened the door to a much- needed redevelopment of staff areas. One of the most exciting projects funded by this grant was the redevelopment of the Musculoskeletal Outpatient Physiotherapy Team Courtyard-a space designed to support the well-being of this team. By May 2024, the project was completed, and the results have been overwhelmingly positive. The newly refurbished patio area, once overgrown and neglected, the new space has already become a favourite spot to unwind during lunch breaks, particularly on those rare but cherished sunny days of the summer. The Physiotherapy Team Leader shared their enthusiasm, saying,"Everyone in the team is delighted with the new area. It gives all of us a chance to grab some fresh air between our morning and afternoon clinics, and it's the perfect place to catch up with colleagues. It's become a great, healthy way to recharge and feel energised for the second half of the day." Before the makeover, the courtyard had become an overgrown and underused space, as captured in the photos below. But now, it's a bright, welcoming area that truly serves the needs of the busy physiotherapy team. 15 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEREFORDSHIRE AND WORCESTERSHIRE HEALTH AND CARE NHS TRUST CHARITABLE FUNDS I report to the trustees on my examination of the accounts of Herefordshire and Worcestershire Health and Care NHS Trust Charitable Funds {'The Trust") for the year ended 31 March 2025 which comprise the income and expenditure account, the balance sheet and the related notes I to 17. 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 l 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 charitrfs accounts as carried out under section 145 of the 2011. In carrying out my examination I have the applicable Directions given by the Charity Commission under Section 145(5}(b) of the 2011. Independent examiner's statement I confirm that l am qualified to undertake the examination because l 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 section 130 of the 2011 Act. or 2. the accounts do not accord with those records. or 3. the account5 do not comply with 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. LLf Craig Wisdom for and on behalf of Deloitte LLP London, United Kingdom January 28,2026 16 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

Statement of Financial Activities for the year ended 31 March 2025 2024/25 Total 2024/25 2024/25 Total Total funds 2023124 Total Funds Note unrestrirted Funds £'ooo restricted Funds £'ooo £'ooo £'ooo Income from: Donations and legacie5 Investments 59 43 102 58 24 32 36 Total income 51 134 94 Expenditure on: Raising funds Cha rita ble activities: Patient welfare Staff education and welfare Total expenditure (53) {2) {55) (53) (37) 61 (36) 27 {73) 88 {214) 132 (151) (65) {216) (399) Net gains/llossesl on investments 12 81 Net expenditure (68) (14) (82) (224) Transfers between funds Net movement in funds 14 224 Reconciliation of funds Total funds brought fonmard Total funds carried forward 813 307 1,120 1,344 745 293 The notes on pages 20 to 30 form part of these accounts. 17 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

Balance Sheet as at 31 March 2024 Total un- Total restrirted restricted funds funds 31 March 31 March 31 March 2025 2025 2025 £'ooo £'ooo £'ooo Total funds Total funds Note 31 March 2024 £'ooo Fixed Assets: Investments 12 709 274 983 990 Total fixed assets 709 274 983 990 Current assets: Debtors Cash at bank and in hand Total current assets 13 14 49 19 68 132 55 19 74 136 Liabilities: Creditors- Amounts falling due within one year 15 19 19 Net current assets 36 19 55 130 Total net assets 745 293 The funds of the charity Restricted income fund5 Unrestricted funds 16 293 293 307 745 745 813 Total funds 745 293 The notes at pages 20 to 30 form part of these accounts. Sue Hincks Chair Charitable Funds Committee Herefordshire and Worcestershire Health and Care NHS Trust Date: 28th January 2026 18 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

Statement of Cash Flows for the year ending 31 March 2025 2024125 Total funds £'ooo 2023124 Total Funds Note £'ooo Cash flows from operating activities: Net cash used in operating activities: Cash flows from investing activities: Dividends and interest from investments Proceeds from the sale of investments Purchase of investments Net cash provided by (used in) investing activities 17 103 343 32 34 12 108 101 639 358 12 39 315 Change in cash and cash equivalents in the reporting (64) (28) Cash and cash equivalents at the beginning of the reporting period 132 160 Cash and cash equivalents at the end of the reporting period 14 132 19 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

  1. Accounting policies (al Basis of preparation The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at fair value. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 2019; the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102)- the Charities Act 2022; and UK Generally Accepted Practice as it applies from l January 2015. (b)Funds structure Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified either as: a restricted fund where the donor has provided for the donation to be spent in furtherance of a specified charitable purpose. Endowment funds, where the capital is held to generate income for charitable purposes, are sub- analysed between those where the Trustee has the discretion to spend the capital, expendable endowment, and those where there is no discretion to expend the capital, permanent endowment. The Charity has no permanent endowment funds and no expendable endowment funds. Those funds which are neither endowment nor restricted income funds, are unrestricted income funds which are sub analysed between designated (earmarked) funds where the Trustee has set aside amounts to be used for specific purposes, often reflecting the wishes of donors and unrestricted funds which are at the Trustee's discretion, including the general fund. The major funds held in each of these categories are disclosed in note 16. (cl Incoming resources All incoming resources are included in the Statement of Financial Activities once the Charity has entitlement to the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured with suff icient reliability. Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income. Distribution of Investment Income to individual Charitable Funds is made quarterly, based on the number of shares each individual fund has within the investment portfolio. 20 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

(dl Incoming resources from legacies Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy 15 probable. Receipt is probable when: Confirmation has been received from the representatives of the estate(s} that probate has been granted; The executors have established that there are sufficient assets in the estate to pay the legacy; and All conditions attached to the legacy have been fulfilled or are within the charity's control. If there is uncertainty as to the amount of the legacy and it cannot be reliably estimated then the legacy is shown as a contingent asset until all of the conditions for income recognition are met. (e) Resources expended and Irrecoverable VAT All expenditure is accounted for on an accrua15 basis and has been classified under headings that aggregate all costs related to each category of expense shown in the Statement of Financial Activities. Expenditure is recognised when the following criteria are met- There is a present legal or constructive obligation resulting from a past event; It is more likely than not that a transfer of benefits {usually a cash payment) will be required in settlement; and The amount of the obligation can be measured or estimated reliably. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. (f) Recognition of expenditure and associated liabilities as a result of grant Grants payable are payments made to linked, related party or third party NHS bodies and non NHS bodies, in furtherance of the charitable objectives of the funds held on trust. Grant payments are recognised as expenditure when the conditions for their payment have been met or where there is a constructive obligation to make a payment. A constructive obligation arises when: We have communicated our intention to award a grant to a recipient who then has a reasonable expectation that they will receive a grant; We have made a public announcement about a commitment which is specific enough for the recipient to have a reasonable expectation that they will receive a grant. and There is an established pattern of practice which indicates to the recipient that we will honour our commitment. The Trustee has control over the amount and timing of grant payments and consequently where approval has been given by the Trustee and any of the above criteria have been met then a liability is recognised. Grants are not Usually awarded with conditions attached. However, when they are then those conditions have to be met before the liability is recognised. Where an intention has not been communicated, then no expenditure is recognised but an appropriate designation is made in the appropriate fund. If a grant has been offered but there is uncertainty as to whether it will be accepted or whether conditions will be met then no liability is recogni5ed but a contingent liability is disclosed. (g) Allocation of support costs Support costs are those costs which do not relate directly to a single activity. These include some recharged staff costs, costs of administration, internal and independent examiner costs and IT support. Support costs have been apportioned between fundraising costs and charitable activities on an appropriate basis. The analysis of support costs and the bases of apportionment applied are shown in note 9. 21 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

(h) Costs of raising funds The costs of raising funds includes all expenditure associated with generating incoming resources from all sources other than from undertaking charitable activities. This includes cost5 of fundraising, trading and associated costs and costs of managing investments as shown in note 6. (i I Cha ritable activities Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the charity. These costs, where not wholly attributable, are apportioned between the categories of charitable expenditure in addition to the direct costs. The total costs of each category of charitable expenditure include an apportionment of support Costs as shown in note 7. -) Fixed asset investments Investments are a form of basic financial instrument. Fixed asset investments are initially recognised at their transaction value and are subsequently measured at their fair value (market value) as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disp05als throughout the year. Quoted stocks and shares are included in the Balance Sheet at the current market value quoted by the investment analyst, excluding dividend. Other investments are included at the Trustee's best estimate of market value. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. Further information on the Charity's investments can be found in note 12. (kl Debtors Debtors are amounts owed to the charity. They are measured on the basis of their recoverable amount. (11 Cash and cash equivalents Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due. Cash equivalents are short term, highly liquid investments, usually in notice interest bearing savings accounts. (ml Creditors Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt. The Charity does not owe any amounts due over one year. (nl 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 carrying value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and the opening carrying value (or purchase date if later). (ol Pensions The Charity does not employ any staff and therefore does not have a pension liability. (pl Critical judgements in applying accounting policies There were no critical judgements in the application of the accounting policies within these financial statements. (ql Sources of estimation uncertainty There were no sources of estimation uncertainty within the preparation of these financial statements. 22 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

  1. Prior year comparatives by type of fund The primary statements provide prior year comparatives in total; this note provides prior period comparatives for the Statement of Financial Activities and the Balance Sheet for both type5 of fund that the Charity manages. 2a. Unrestricted funds - Statement of Financial Activity for the year ended 31 March 2025 2024125 202312024 £'ooo £'ooo Income Donations and legacies Investments 59 24 24 36 Total income 83 60 Expenditure Raising funds Cha rita ble activities Total expenditure Net gains/{losses) on investments Net expenditure (53) 98 {52) 228 151 280 81 (139) (68) Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 813 952 745 813 Unrestricted funds - Balance Sheet as at 31 March 2025 2024125 £'ooo 2023124 £'ooo Fixed Assets Investments 709 760 Total fixed assets Current assets Debtors Cash at bank and in hand 49 55 Total current assets Liabilities Creditors: Amounts falling due within one year 19 Net current assets 36 53 Total net assets 745 813 Total unrestricted funds 745 813 23 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

2b. Restricted funds- Statement of Financial Activity for the year ended 31 March 2025 2024125 £'ooo 2023124 £'ooo Income Donations and legacies Investments 43 34 Total income 51 34 Expenditure Raisingfunds Cha ritable activities Total expenditure {2) 63 {1) 118 65 119 Net gains/(losses) on investments Net expenditure {65) (85) Transfer between funds Net movement in funds 14 85 Reconciliation of funds Total funds brought forward Total funds carried forward 307 293 392 307 Restricted funds- Balance Sheet as at 31 March 2025 2024125 £'ooo 2023124 £'ooo Fixed Assets Investments 274 230 Total fixed assets 274 Current assets Debtors Cash at bank and in hand Total current assets 19 77 19 77 Liabilities Creditors: Amounts falling due within one year Net current assets 19 77 Total net assets Total unrestricted funds 293 307 24 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

  1. Related party transactions Herefordshire and Worcestershire Health and Care NHS Trust is the sole Corporate Trustee and beneficiary of the Charity. The charity has made revenue and capital grant payments to the Trust for the benefit of NHS patients and these are detailed in note 7. During the year none of the members of the NHS Trust Board or parties related to them has undertaken any transactions with the Charity or received any benefit from the Charity in payment or kind. The Trustee received no honoraria, expenses or emoluments in the year. The Trust makes a number of clerical and transaction sepiices available to the charity, by agreement with the Trustee. These include administrative services at a cost of £34,2091£34,288 in 2023/24} in support of the charity's grant making activities which are included within support cost5 - see note 9. The amounts paid for administrative services are due under a service level agreement and are set at an amount which allows the Trust to recover its costs.
  2. Income from donations and legacies Unrestrirted funds £'ooo Re5trirted Total funds 2024125 £'ooo £'ooo Total 2023124 £'ooo Donations from individuals 33 33 24 Corporate Donations Funds from other Charities 22 22 Funds from other NHS Charitie5 21 21 34 Legacies Total 24 24 59 43 102 58 Legacy income is only included in incoming resources where receipt Is probable and the amount is known with certainty, or the legacy has been received.
  3. Gross income from investments Unrestricted funds £'ooo Restricted Total funds 2024125 £'ooo £'ooo Total 2023124 £'ooo Investments listed on UK Stock Exchange Total 24 24

  4. Analysis of expenditure on raising funds Unrestricted funds £'ooo Restricted Total funds 2024125 £'ooo £'ooo Total 2023124 £'ooo Investment management cost Support costs Total 48 48 45 53 55 53 25 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

  5. Analysis of charitable activities The charity did not undertake any direct charitable activities on its own account during the year. All of the charitable expenditure was in the form of grant funding. Total 2024125 Total 2023124 £'ooo £'ooo Patient welfare Staff education and welfare 74 214 87 132 161

  6. Analysis of grants The charity does not make grants to individuals. All grants are made to the Trust to provide for the care of NHS patients in furtherance of our charitable aims. The grant support was given to Herefordshire and Worcestershire Health and Care N HS Trust. The total cost of making grants, including support costs, is disclosed on the face of the Statement of Financial Activities and the actual funds spent on each category of charitable activity, is disclosed in note 7. The Corporate Trustee operates a scheme of delegation for all of the charitable funds, through which all grant funded activity is managed by fund advisers responsible for the day-to-day disbursements on their projects, in accordance with the directions set out by the Trustee's charity standing orders and financial instructions.
  7. Allocation of support costs Support costs have been allocated between raising funds and charitable activities on the basis of direct al location. Raising funds Charitable Total activities 2024125 £'ooo £'ooo Total 2023124 £'ooo Independent examiner Internal audit Governance Administration costs Miscellaneous Total 12 22 34 34 26 22 45

  8. Analysis of administration costs The Charity does not employ any staff, but the Charity was charged £34,20912023/24 £34,288} by Herefordshire and Worcestershire Health and Care NHS Trust. This represented the recovery of the costs of relevant NHS Trust employees who administered the charitable funds during the year. 26 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

  9. Independent Examiner The independent examinerfs fee for 2024/25 was £7,080 {2023124 £6,264). This fee relates solely to examination, with no other additional work undertaken.

  10. Fixed asset investments 2025 Total £'ooo 2024 Total £'ooo Movement in fixed asset investments Market value bought forward Add: additions to investments at cost 990 1,190 358 101 Less: disposals at carrying value Add: net gain / (loss) on revaluation Market value at year end (108) (639) 81 983 990 Fixed asset investments by type 2025 £'ooo 2025 2024 £'ooo 2024 Fixed interest 174 17.7 164 16.5 Property investments Structured products UK equities Overseas equity funds Absolute return funds 23 27 27 29 147 14.9 161 16.3 532 54.2 526 53.2 36 29 Other investments Total 27 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

All investments are carried at their fair value. The Trustee set 5% of market value as of 31 March as the threshold for reporting material investments. As of 31 March 2025, the following investments were considered material: Vanguard Funds PLC S&P500 UCITS ETF USD DIS {9.68°A of portfolio). The significance of financial instruments to the ongoing financial sustainability of the Charity is considered in the risk analysis section of the Trustee's annual report. The main risk from financial instruments lies in the combination of uncertain investment markets and volatility in yield. Owing to 'quantitative easing, and the market favouring lower risk investments, the yield on bonds has been low giving rise to a significant downside risk of a fall in capital values if interest rates return to normal levels. Although the stronger economy should result in improving dividend yields, there is concern that the market conditions will change and this may not be the case. The default rate on fixed interest securities is expected to improve with a strengthening economy. The high current demand for high quality corporate bond and government stock continues to depress the yield. Liquidity risk is anticipated to be low as all assets are traded and the commitment to intervention by central banks and market regulators has continued to provide for orderly trading in the markets and so the ability to buy and sell quoted equities and stock is anticipated to continue. The Charity's investments are mainly traded in markets with good liquidity and high trading volumes. The Charity has no material investment holdings in markets subject to exchange controls or trading restrictions. The Charity manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes. All investments were made in companies listed on a UK stock exchange or incorporated in the UK or European Union and therefore all investments are treated as investment assets in the UK/EU. Restricted appeals to fund specific equipment or assets are held on notice deposit or overnight on the money markets in accordance with the Trustee's investment policy. The Charity permits the use of derivatives (or investments that use derivatives) to diversify income streams and protect against market volatility, rather than to speculate or use leverage to enhance returns. 28 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

  1. Analysis of current debtors Debtors under l year 2025 £'ooo 2024 £'ooo Debtors Prepayments Total
  2. Analysis of Cash at bank and in hand 2025 £'ooo 2024 £'ooo Cash in hand Short term investments Total 54 120 14 12 132 All cash is held in a current account. No cash or cash equivalents or current asset investments were held in non-cash investments or outside of the UK.

  3. Analysis of Liabilities Creditors under l year 2025 £'ooo 2024 £'ooo Accruals 19 Total 19 29 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335

  4. Analysis of fund movements charitable funds The Trustee sets a closing balance of £50,000 or above as the threshold for the separate reporting of material funds. In the interests of accountability and transparency a complete breakdown of all funds is available upon written request. Fund B/fwd In- Expenditure come Gains and losses Fund Fund Trf C/fwd Restricted Funds: Malvern Hospital Other restricted funds Unrestricted funds: General Trust-wide Other unrestricted funds Unrestricted Service funds: Mental Health & Learning Disabilities 238 (14) (49) 229 70 43 64 (14) (65) {8) (26) 262 91 132 (38) 14 108 Integrated Community Care 133 {7) 130 Countywide Community Care 131 (12) 125 Children's and Specialist 132 17 120 134 216

  5. Reconciliation of net income/(expenditure) to net cash flow from operating activities 2024125 2023124 £'ooo £'ooo Net income/{expenditure) {as per the Statement of Financial Activities) Adjustments for: IGains}/losses on investments Dividends, interest and rents from investments Ilncrease)/decrease in debtors Increase/ldecrease) in creditors Net cash provided by (used in) operating activities (82) (224) (81) (34) {32) (2) 13 103 343 30 | Herefordshire and Worcestershire Health & Care NHS Trust Charitable Fund5 Annual Report and Account5 2024125 Registration number- 1060335