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← Bradford Hospitals Charity

2022-03-31-accounts

Annual Report and Accounts 2021 – 2022

Bradford Hospitals Charity Daisy Bank Duckworth Lane Bradford West Yorkshire BD9 6RJ

Bradford Hospitals Charity is the official NHS charity for Bradford Teaching Hospitals NHS Foundation Trust

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

Table of Contents Table of Contents Table of Contents
1.
Chairman and Board Members Foreword ............................................................................................................ 2
2.
Review of activities ............................................................................................................................................... 2
2.1. Review of the year ........................................................................................................................................ 2
2.2. Our Strategic Objectives ............................................................................................................................... 3
2.3. Activities for public benefit ............................................................................................................................ 3
2.4. Fundraising ................................................................................................................................................... 3
3.
Financial Review ................................................................................................................................................... 5
3.1. Summary ....................................................................................................................................................... 5
3.2. Sources of Income for the Charity 2021/22 (£000) ....................................................................................... 6
3.3. How funds were spent 2021/22 (£000) ......................................................................................................... 7
4.
Structure, governance and management ............................................................................................................. 8
4.1. Corporate Trustee ......................................................................................................................................... 8
4.2. Charity Operational Committee .................................................................................................................... 8
4.3. Structure of funds.......................................................................................................................................... 9
4.4. Public benefit .............................................................................................................................................. 10
4.5. Governance ................................................................................................................................................ 10
4.6. Day to day management of the Charity ...................................................................................................... 11
4.7. Board of Directors ....................................................................................................................................... 12
4.8. Investments policy and performance .......................................................................................................... 13
4.9. Reserves policy ........................................................................................................................................... 14
4.10. Risk management ....................................................................................................................................... 14
4.11. Partnership working and networks.............................................................................................................. 15
5.
Future plans ........................................................................................................................................................ 15
6.
Financial Statements for the year ended 31 March 2022 ................................................................................... 15
6.1. Foreword ..................................................................................................................................................... 15
6.2. Statement of Trustee responsibilities in respect of the Trustee annual report and financial statements ... 16
6.3. Independent Examiner’s Report to the Trustees of Bradford Hospitals Charity ......................................... 17
6.4. Statement of financial activities for the year ended 31 March 2022 ........................................................... 18
6.5. Balance Sheet as at 31 March 2022........................................................................................................... 19
6.6. Statement of Cash Flows for the year ending 31 March 2022 ................................................................... 20
Notes to the accounts ............................................................................................................................................. 21

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

The Trustee Report below aims to provide sufficient information to understand the Charity, its purpose, and how it has performed during the year.

1. Chairman and Board Members Foreword

On behalf of the Trustee of Bradford Hospitals Charity (“the Charity”), we are pleased to present the Charity’s Annual Report and Accounts for the year ended 31 March 2022.

This document provides an overview for stakeholders and interested parties of what the Charity has achieved during 2021/22. This Annual Report, including the Trustee Report and Accounts has been prepared in accordance with accounting policies set out in the notes of the accounts and complies with the Charity’s governing document (the Trust Deed) the Charities Act 2011 and the Statement of Recommended Practice (“SORP”) “Accounting and Reporting by Charities” (“FRS 102”).

The Charity is committed to enhancing the care and treatment of patients and improving the health of local people. The Charity works with Bradford Teaching Hospitals NHS Foundation Trust (“the Trust”) to improve health and healthcare across the Bradford City Region. We are proud that the general public trust us to invest in projects that are over and above the responsibility of the NHS and exchequer.

It’s been an incredibly challenging two years for us all and what a journey we have been on, both as a nation and in our local community. Last year saw huge respect for our NHS, as they fought their way through the unprecedented times to evolve and change as needed to cope with the ongoing Covid-19 challenges. The funds raised through the Covid trust fund, have enabled our health service to go above and beyond what would otherwise be possible.

We fund projects that improve services for patients, and we help staff both practically and emotionally so they can continue their life saving work. One such example of staff support was the installation of cycle hubs at both St Luke’s Hospital and Bradford Royal Infirmary. Many of our staff live locally and are acutely aware of the need to look after their own health and well-being and being greener in their choice of transport. The Charity has provided safe, secure undercover bicycle storage for staff. The Charity has also invested in entertainment items such as TV’s, toys, books, and games for patients young and old.

I would like to thank the amazing individuals and corporate supporters who have enabled this to happen. You have made a huge difference to patients and staff at the Trust.

2. Review of activities

2.1. Review of the year

During the year, funds were used to enhance service provision for the benefit of both patients and staff. The Charity received a large number of very generous donations from many parts of the community and as a result of this generosity; the Charity purchased a number of items of equipment for the wards and departments to support staff and patients, including:

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

2.2. Our Strategic Objectives

The Charity has as its sole objective to use its funds:

For any charitable purpose or purposes relating to the NHS wholly or mainly for the services provided by Bradford Teaching Hospitals NHS Foundation Trust

The Corporate Trustee considers that this objective does not unreasonably restrict access to charitable benefits within the scope of the Declaration of Trust. The Corporate Trustee of the Charity seeks to achieve this objective, giving consideration to general guidance by two main routes. Firstly, the Corporate Trustee works to identify significant projects to which it can contribute or which it can wholly fund. It actively enhances the refurbishment of wards and clinical areas from basic specifications to higher quality. Secondly, staff throughout the organisation identify small but valuable differences where the fund monies can deliver benefits to patients and staff, such as attendance at extra training courses or conferences.

2.3. Activities for public benefit

Thanks to the continued generosity of our supporters, the Charity has continued to develop and during 2021/22 the Charity has been able to spend £548,600 (£841,559 in 2021) across all areas of care, in the following ways:

£000
Medical equipment 34
Staff education and welfare 221
Patient welfare 134
Other activities 37
Raising funds 122
548

2.4. Fundraising

The Charity is registered with the Fundraising Regulator and abides by their codes of conduct and their fundraising promise, which ensures that our fundraising is legal, open, honest, and respectful. The Charity has a fundraising team that is compliant with the recognised standards of fundraising as well as those required under charity law and wider law. Controls are in place to ensure any fundraising is within the Fundraising Code of Practice. It is inevitable that fundraisers will come into contact with people who may be in a vulnerable circumstance or need additional support to make an informed decision. If a fundraiser reasonably believes that an individual is unable to make a decision, then they will not accept a donation from that person. The fundraising team use a checklist to help identify signs that an individual may be in a vulnerable circumstance.

The fundraising team have a policy where they get to know their donors by sending out relevant and often personalised communications. They also give individuals clear information and opportunities to change how, when and if they want to hear from the Charity and follow the General Data Protection Regulation (GDPR) principles. The Charity raises funds to enhance the care and treatment of local patients and those who care for them. The Charity has not used any professional fundraisers and has not received any complaints. Fundraising record-keeping and monitoring is coordinated through the Harlequin CRM system.

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Bradford Hospitals’ Charity - 1061753

Annual Report and Accounts for the year ended 31 March 2022

This financial year has remained a challenge for many charities due to the continuing restrictions of the Covid 19 pandemic. The ripple effect for fundraising continues. However, we were able to guide our supporters with Covidsafe ways of fundraising and many took part in outside challenge events.

With many events rolling over from 2020, we had hoped this year would see the return of some of our planned events. However, this was not to be for many events including outside mass participation events. Volunteers, crucial to the running of many of these events for charities, including NHS charities have been reticent to return with many being classed as vulnerable. We worked closely with NHS Charities Together who continued to support us in weekly updates and webinars.

In spring, our fundraisers took part in virtual events from running daily in a chosen month, to walking the Coast to Coast. In June we produced a fundraising film of our ‘Rays a Smile’ Appeal to celebrate our fundraising and highlighting the positive impact this project has had for the radiology teams at both BRI and St Luke’s Hospitals.

In June, just ahead of the ‘NHS Big Tea’ (a national campaign run by NHS Charities Together) we raised a ‘cuppa’ with our corporate partners Bradford City Football Club to promote this. We received £6k from the Freemasons in response to this, enabling us to hand out small hampers of tea and biscuits to all staff departments. We also hosted tea events in our charity gazebos at both St Luke’s and BRI.

The summer saw an array of fundraisers wanting to support both our NHS staff and to continue to support for our Big Neonatal Appeal too. From ENDURE24 to a Dragon’s Boat Race and on to a very successful Yorkshire 3 Peaks in September 2021, our staff went over and above to take part to raise funds. In August 2021, our 2[nd] printed ‘Charity Chatter’ newsletter was circulated to our signed-up supporters and stakeholders.

By autumn, we were promoting our ‘Sparkle for Axl’ annual campaign and Festive Lights campaign too. Lighting up our hospitals and showing our NHS staff we continue to support them has been an important message for both our staff and our local community.

We also engaged the services of a third-party consultant for our Big Neonatal Appeal, and to provide guidance on how we could continue to develop the Charity. This produced a positive feasibility study and the beginnings of a pathway for this appeal to be successful and for the Charity to grow.

Continued stewardship of these fundraisers and our supporters has been paramount for the fundraising team as we know great stewardship and support translates into sustainable support for our Charity. We have continued to develop and apply effective and efficient ways of giving. In addition to this, we also received in excess of 2,000 ‘Gifts in Kind’ for our children and long staff patients staying in hospital over Christmas via Amazon wish lists and toy appeals.

The Fundraising team continues to provide opportunities for people to engage with the Charity and donate. They ensure that all donors receive appropriate thanks and gratitude for their donations and actively promote the Charity to raise funds and awareness in a number of different ways including:

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

3. Financial Review

3.1. Summary

The net assets of the Charity as at 31 March 2022 were £2,217,902 (compared to £2,390,192 in 2021).

During the year, income (excluding unrealised and realised investment losses) was £302,245, a decrease of £654,756 on the previous year, £957,001. Total expenditure for the year was £548,600, which represents a decrease of £292,959 on the previous year, £841,559. This resulted in an excess of expenditure over income of £246,355 which, together with realised and unrealised gains from the investment portfolio totalling £74,064, has led to an overall decrease in net assets of £172,291. When the Covid 19 pandemic started in 2021, the Charity saw an increase in support due to the improved public good will associated with the NHS. This led to significant fundraising by NHS Charities Together which was distributed as grants. As the pandemic subsides and the costof-living crisis starts to take effect, the Charity has seen reduced levels of income generation. The Charity will only fund items when it has cash available. It also has funds in reserves to cover operating costs.

The Charity continues to rely on donations, legacies, and investment income as the main sources of income. Fundraising income reduced considerably due to restrictions being placed with Covid, but events are now being re-scheduled, and income is slowly coming back into the Charity from fundraising. The Charity continues to invest in its growth to secure long term sustainable income.

The Charity uses Rathbones Investment Management to manage its investments and also holds an investment with The Charles and Elsie Sykes Trust. For this financial year, there has been an unrealised gain on investments of £74,064 (£255,498 unrealised gain in 2021). The equity market performed strongly in 2020/21 on the back of Vaccine development. 2021/22 remained largely a Covid story but focused on the recovery trajectory.

The Charity is continuing to encourage spend in year by asking departments to identify projects to utilise the designated funds held. The Charity aims to maximise public benefit by ensuring individual funds are spent in line with the purpose of the fund. Expenditure is limited to total donations received and is spent on needs when opportunity arises. The Corporate Trustee considers that there are no material uncertainties that could cast doubt over the Charity’s ability to continue as a going concern for a period of at least twelve months from the date of signing the accounts.

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

3.2. Sources of Income for the Charity 2021/22 (£000)

----- Start of picture text -----
Investment income
12% Donations
24%
Staff Lottery
14%
Other activities
0%
Legacies
18%
Fundraising
22%
Gifts In Kind
8%
Grants
2%
----- End of picture text -----

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

3.3. How funds were spent 2021/22 (£000)

Staff Welfare 17/18 - this figure includes an amount of £500k that was used to support the Electronic Patient Records (EPR) training costs.

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

4. Structure, governance and management

4.1. Corporate Trustee

The Trust is the Corporate Trustee of the Charity and is governed by the law applicable to NHS Trusts, principally the Trustee Act 2000 and the Charities Act 2011. The Trust Board of Directors has devolved responsibility for the on-going management of funds to the Charitable Fund Committee (“the Committee”), which administers the funds on behalf of the Corporate Trustee. No trustee remuneration was paid in the year by the Charity.

Members of the Trust Board of Directors are not individual Trustees under Charity Law but act as agents of the Corporate Trustee. The Board of Directors approves which members become the agents of the Corporate Trustee and are introduced to the Charity through Board standing orders / Executive Leads.

The following members of the Board of Directors served on behalf of the Corporate Trustee during the year:

Maxwell Mclean (Chairperson) Altaf Sadique (Non-Executive Director and Deputy Chair) Mel Pickup (Chief Executive) John Holden (Director of Strategy & Integration / Deputy Chief Executive) Karen Dawber (Chief Nurse) Matthew Horner (Director of Finance) Julie Lawreniuk (Non-Executive Director) Mohammed Hussain (Non-Executive Director) Karen Walker (Non-Executive Director)

The Charity General (unrestricted) Fund was established using the model Declaration of Trust, and all funds held on trust as at the date of registration (April 1997) were either part of this unrestricted fund or registered as separate designated funds within the Charity. Subsequent donations and gifts received by the Charity that are attributable to the original funds are added to those fund balances within the existing Charity. The Corporate Trustee fulfils its legal duty by ensuring that funds are spent in accordance with the objectives of each fund, and by designating funds the Corporate Trustee respects the wishes of our generous donors to benefit patient care and advance the good health and welfare of patients, carers, and staff.

4.2. Charity Operational Committee

The Charity Operational Committee meets every two months and is a Committee of the Charity. Its purpose is to give additional assurance to the Committee that the Trust’s charitable activities are within the law and regulations set by the Charity Commissioners for England and Wales and to ensure compliance with the charity’s own governing document. It does not remove from the Committee the overall responsibility for this area but provides a forum for a more detailed consideration of charitable matters and allows for direct contact with the Charity Commissioners where necessary.

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

Membership:

Chair:

Director of Strategy & Integration / Deputy Chief Executive Members: Associate Director of Corporate Governance / Board Secretary (Deputy Chair) Deputy Finance Director Assistant Director of Finance Head of Fundraising Charity PR and Communications Officer AHP Representative Nurse Representative Doctor Representative Manager Representative HR Representative Risk and Governance Representative Estates and Facilities Representative

4.3. Structure of funds

The primary issue to be considered in any expenditure decision is whether the expenditure is within the scope of the objects of the Charity. Charitable purposes within the NHS translate to prevention or relief of sickness, disease or human suffering of patients served by the NHS. This does not preclude expenditure on staff as long as the benefit to staff translates demonstrably to relief of sickness of NHS patients.

The Charity has a decision making and approval process whereby an expenditure form needs to be completed. The expenditure form is structured in sections covering the key principles that fund holders need to consider and includes the requirement for the appropriate authorised signatories.

The Charity has started an exercise to rationalise the existing trust funds into four main funds - Sunshine, Children & Young People, Cancer and Dementia & Elderly. A fifth fund (‘Other’) has also been set up for funds that are related to governance and admin. Over the next three years, the intention is to merge the existing trust funds into one of the four new funds.

The General Fund

This comprises of gifts received by the Charity where no particular preference as to their expenditure has been expressed by donors.

Designated (earmarked) Funds

Under the new structure, this will be the Children & Young People, Cancer, and Dementia & Elderly. These usually contain donations where the donor expressed a preference to benefit a particular department or activity of the Trust at the time of making the donation. This preference can also include benefit to staff welfare, thereby enhancing both patient care and public benefit.

Whilst the donor’s preference is not binding on the Corporate Trustee, the designated funds reflect these preferences. The designated funds are overseen by fund holders who can make recommendations on how to spend the money within their designated area. Fund holders’ recommendations are generally accepted, and these funds can be spent at any time.

The funds available for spending are allocated to specialties within the Trust’s clinical management structure.

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

Restricted Funds

This comprises of gifts received by the Charity where a specific instruction as to their expenditure has been expressed by donors. These funds must only be used in accordance with specific restrictions imposed by the donor. At present, the Charity has one restricted fund, which was primarily established for the grants received from NHS Charities Together.

Endowment Funds

The Charity has “Capital in Perpetuity” (CIP) funds, which consist of five expendable endowment funds and one permanent endowment fund (which cannot be spent). These funds provide investment income.

4.4. Public benefit

The Corporate Trustee conducts its activities with regard to the Charity Commission guidance on Public Benefit in section 4 of the Charities Act 2011.

The key principles of public benefit are:

The Corporate Trustee seeks to meet these principles in a number of ways. It has established a system of expenditure approval that ensures proper consideration is given to what the benefits of its activities are and who will benefit. The Corporate Trustee considers that, because its activities are patient focussed and contribute to the health of NHS patients, it clearly provides public benefit. In providing public benefit the Corporate Trustee is careful to ensure that its activities do not unreasonably restrict access to charitable benefit within the scope of Declaration of Trust or cause any detriment or harm. Charitable funds may be used to partially fund staff welfare and professional education / training, where this is in addition to the provision ordinarily afforded by the NHS. As professional education / training can also be a personal benefit, care has been taken to establish that this is incidental to the patient benefit. These requests demonstrate a direct link between professional education / training and the benefit for Bradford patients. To minimise risk and restrict harm, medical equipment purchases are made through the Trust’s procurement processes, which help to ensure compliance with legislation, including Health and Safety and Equality and Diversity.

Staff appointments are subject to the Trust’s policies and procedures to reflect good practice in recruitment and retention. The members of the Board of Directors receive a comprehensive induction upon their appointment to the Trust; this includes relevant information regarding the Charity and the Committee. Specific training regarding the duties of trustees has been paused during the pandemic but is being planned to take place again during 2022/23.

4.5. Governance

The Charity is constituted by trustees incorporated as a body and is governed by a Declaration of Trust of 25 March 1997. This is the formal document which sets out information on what the Charity is set up to do (objects), how the Charity will do this (powers) and administrative provisions.

Acting for the Corporate Trustee, the Committee is responsible for the overall management of the Charity and is required to:

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

These are all included in the Committee’s terms of reference. The accounting records and the day-to-day administration of the Charity are dealt with by the finance department of the Trust. These costs are re-charged to the Charity. The Charity has policies on expenditure, investments and reserves as well as guidelines for fund holders.

4.6. Day to day management of the Charity

The Director of Strategy & Integration / Deputy Chief Executive, John Holden, has day to day responsibility for the management of the Charity.

Matthew Horner, Director of Finance, is the Executive Director with overall responsibility for financial management and accounting for the Charity during the year. Matthew Horner can personally approve, on behalf of the Corporate Trustee, all expenditure over £500, with an upper limit of £10,000, using his delegated authority. For expenditure from £10,000 to £50,000, approval must be obtained from the Chief Executive of the Trust. For any expenditure over £50,000, approval needs to be obtained from the Chairperson of the Trust. For any expenditure over £100,000, approval needs to be obtained from the Corporate Trustee.

Michael Quinlan, Deputy Director of Finance, acted as the principal officer overseeing the day to day financial management and accounting for the Charity during the year.

Principal office

Bradford Hospitals’ Charity Daisy Bank Duckworth Lane Bradford West Yorkshire BD9 6RJ

Principal professional advisers:

Independent Examiner Deloitte LLP 1 City Square Leeds LS1 2AL

Investment Advisors

Bankers

Rathbone Investment Management HSBC Port of Liverpool building 47 Market Street Pier Head Bradford Liverpool BD1 1LW L3 1NW

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

4.7. Board of Directors

The Charity has a Corporate Trustee, the Trust. The members of the Trust Board of Directors who served during the financial year and up to the date of signing of the financial statements were as follows:

Executive directors:

----- Start of picture text -----
Name Role Appointed To
Professor Mel Pickup Chief Executive 01/11/2019 Present
Mr Sajid Azeb Chief Operating Officer / Deputy Chief 12/10/2020 Present
Executive
Ms Pat Campbell Director of Human Resources 01/12/2008 Present
Ms Karen Dawber Chief Nurse 29/08/2016 Present
Mr John Holden Director of Strategy and Integration 22/08/2016 01/05/2018
Interim Chief Executive 01/04/2019 31/10/2019
Director of Strategy and Integration / 01/05/2018 Present
Deputy Chief Executive
Mr Mark Holloway Director of Estates and Facilities 12/11/2020 Present
Mr Matthew Horner Acting Director of Finance 01/11/2011 01/08/2012
Director of Finance 01/08/2012 Present
Dr Paul Rice Chief Digital and Information Officer 01/01/2021 Present
Dr Ray Smith Chief Medical Officer 01/01/2021 Present
Non-voting Executive Director
----- End of picture text -----

Non - executive directors:

----- Start of picture text -----
Name Role Term start Term end
Dr Maxwell Mclean Chairman 01/05/2019 30/04/2025
Professor Janet Hirst Non-Executive Director 13/09/2021 12/09/2024
Mr Mohammed Hussain Non-Executive Director 01/09/2019 01/08/2022
Ms Julie Lawreniuk Non-Executive Director 01/09/2019 31/08/2022
Ms Sughra Nazir Non-Executive Director 20/01/2022 19/01/2025
Mr Jon Prashar Non-Executive Director 01/02/2018 31/01/2024
Mr Altaf Sadique Non-Executive Director 01/12/2020 31/11/2023
Mr Barrie Senior Non-Executive Director 01/12/2017 30/11/2023
Ms Selina Ullah Non-Executive Director 01/09/2015 31/08/2021
Ms Karen Walker Non-Executive Director 01/01/2021 31/12/2023
----- End of picture text -----

Reference and administrative details

The Charity, registered charity number 1061753, was entered on the Central Register of Charities on 09 April 1997. The name of the charity changed from ‘Bradford Teaching Hospitals NHS Foundation Trust Charitable Fund’ in August 2014 to ‘Bradford Hospitals Charity’, with no change being made to the objectives of the Charity.

The Charity consists of 160 funds as at 31 March 2022 (2021: 164), and the notes to the accounts distinguish the types of funds held and disclose separately all material funds (funds with balances over £50,000). The funds received by the Charity are accepted, held and administered as funds and property held on trust for purposes 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.

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

4.8. Investments policy and performance

The Charity uses Rathbone Investment Management to invest the funds of the Charity. The assets of the Charity must be invested in accordance with the declaration of Trust and are governed by the Trustee Act 2000. The investment policy addresses the needs of the Charity and its beneficiaries in the short, medium and long term by aiming to balance both capital growth and income generation. The Charity has an investment policy which is reviewed annually.

The overall objectives are to generate sufficient income and capital growth to enable the Charity to carry out its purposes consistently year on year with due and proper consideration for future needs and the maintenance of and, if possible, enhancement of the value of the invested funds while they are retained. The Charity recognises that every investment carries risk. Equally, not investing at all carries the risk of lost asset value in real terms, and the consequent reputational risk of poor stewardship.

The Charity has considered the seven types of risk identified by the Charity Commission in its guidance Charities and investment matters: a guide for trustees (CC14), namely:

The Charity has decided that to mitigate risk it will have a diversified portfolio of investments, both in asset class and individual investment, and will be invested such that the overall risk profile of the funds is ‘medium’ with the specific investment strategy to be agreed with our investment manager.

The Charity permits investments in the following assets:

The Charity has appointed professional investment managers to oversee its investments. In addition to managing the Charities portfolio of investments, they provide the Charity with advice on specialist areas including market risk. The Charity does not pay tax on investment income as it is applied to a charitable purpose. The investment managers also ensure the Charity’s portfolio reflects environmental, social and governance concerns such as ceasing investments with Russian companies since the start of the war in Ukraine.

Ethical considerations are included which in general terms seek to obtain the best financial return from the Charity’s investments consistently and with commercial prudence. The Charity will not invest directly in companies which are primarily involved in the production of alcohol, tobacco or armaments. Our investment manager is encouraged to monitor the collective investments held, in so far as is practicable, such that any indirect exposure in these areas is minimised. In the year to 31st March 2022, the investment portfolio of the Charity produced a total return (the combination of capital growth and income) of +7.2%. This compares to the benchmark (MSCI PIMFA Income Index) total return of +6.1%. This performance is due to a combination of asset allocation positioning and individual stock selection. The portfolio performance was ahead of the benchmark principally due to a strong return from UK Equities and Diversifiers, with strong performance from a number of

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Bradford Hospitals’ Charity - 1061753

Annual Report and Accounts for the year ended 31 March 2022

individual investments in these segments of the portfolio, in particular. In addition, the underweight Fixed Income position contributed positively. The final quarter of the year saw the Russian invasion of Ukraine which concerned financial markets and this along with inflation remains the primary challenges for the coming year. Our investment manager will continue to actively manage the portfolio in response to the changing landscape. The Charity has a capital in perpetuity fund (Elsie Sykes CIP fund) that is held for investment, with income generated to be used for charitable purposes, as specified in the endowment terms. This is currently invested with the Charles and Elsie Sykes Trust and was valued at £239,316 as at 31 March 2022.

4.9. Reserves policy

The Charity has a reserves policy requiring reserves to be maintained at a level equivalent to the cost of maintaining the Charity team for one year. The Charity has total funds of £2,218,000 of which, £78,000 is restricted and not available to fund general purposes, and £302,000 which is held in the permanent endowment funds and are excluded from reserves. The Charity holds £1,838,000 of designated funds as its reserves. This is equivalent to approximately 3 years of expenditure. As at 31 March 2022, there are no material designated funds or commitments, with expenditure of approximately £550,000 forecast in the forthcoming year. In addition to the unrestricted and designated funds held in reserves, the Trustee has the power, if it so wishes, to spend any of the expendable endowment. However, the expendable endowment is used to generate income, supplementing the income from donations and legacies. The Trustee will therefore only spend the expendable endowment on an exceptional basis.

It is not anticipated that the Charity will deploy funding towards any projects before donations have been received which mitigates the risk of any planned commitments, or designations, that cannot be met by future income alone. In other words, commitment is made by the Charity after funding has been identified / receipted.

4.10. Risk management

The Corporate Trustee has considered any major risks to which the Charity is exposed. The Corporate Trustee aims to mitigate the risk that income will fall by engaging with the fundraising department. The Fundraising department works with the Charity and engages with the local community to raise funds through a programme of events and encouraging donations. The Charity seeks to generate income from multiple sources to help mitigate shortfalls in any one area. This includes a programme of fundraising activity, fundraising appeals, legacies and, applying for grants.

Income generated fell from £957,000 in 2020/21 to £302,000 in 2021/22. The £655,000 reduction in income was due to the impact of the covid 19 pandemic which led to additional donations, grants and gifts in kind being received in 2020/21. The reduction in income is not considered to be a long-term risk to the Charity as income generated in 2021/22 is consistent with levels seen before the covid 19 pandemic.

The Corporate Trustee has agreed to invest in a fundraising strategy, with a long-term ambition to engage with the public and to further enhance the environment of the Trust.

The investment portfolio is well diversified to help protect the Charity against any fall in value of a particular market. The Investment Manager holds a discretionary mandate which enables them to make investment and divestment decisions on the Charity’s behalf. The Charity works closely with the Investment Manager to ensure that the investment policy is reviewed regularly.

The investment strategy is to protect the long-term value of the portfolio in absolute terms and in terms of purchasing power once the impact of inflation is taken into account. To achieve this, the Investment Managers have inevitably invested a substantial amount of the portfolio in equities, both in the UK and overseas.

Any investment gains and losses, although reflected in the Charity’s accounts are not, realised as such unless and until the investments concerned are actually sold.

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

4.11. Partnership working and networks

The Trust is the main beneficiary of the Charity and is a related party by virtue of being the Corporate Trustee of the Charity. Effective partnership with the Trust ensures that the funds are used to best effect. When deciding upon the most beneficial way to use the Charity funds, the Corporate Trustee has regard to the main activities, objectives, strategies and plans of the Trust.

5. Future plans

The Charity’s priorities are those set out in the Trust’s mission statement: ‘to provide the highest quality healthcare at all times’. The vision for the Trust that describes its ambition and where it wants to be as an organisation in five years’ time is ‘to be an outstanding provider of healthcare, research and education, and a great place to work ’. Meeting this mission and vision will maximise the impact of the Charity and its benefits to the beneficiaries of the Charity who are primarily the NHS patients of Bradford, through three core values:

In order to enhance and improve the current levels of care for NHS patients throughout the Trust, the Charity has planned expenditure in a number of areas. The Charity will also continue to enhance the refurbishment of wards and clinical areas from basic specification to higher quality.

The Fundraising department will also look to expand its fundraising activities towards achieving its goal of raising additional funds over the next five years. The Charity is continuing to encourage spend in year by asking departments to identify projects to utilise the designated funds held. The Charity aims to maximise public benefit by ensuring individual funds are spent in line with the purpose of the fund. Expenditure is limited to total donations received and is spent on needs when opportunity arises.

6. Financial Statements for the year ended 31 March 2022

The accounts of the funds held on trust by the Trustee appointed as stated below:

6.1.

Foreword

The Trustee present their report and the independently examined financial statements of the Charity for the year ended 31 March 2022. The Trustee has adopted the provisions of the Statement of Recommended Practice (“SORP”) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland published on 16 July 2014, updated with the second edition released in October 2019.

Page 15 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

6.2. Statement of Trustee responsibilities in respect of the Trustee annual report and the financial statements

The Trustee is responsible for preparing the Trustee Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the Trustee is required to:

The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable it 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. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee is responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

By order of the Trustee

Signed:

14[th] December 2022 -----------------------------------------------------------------------------------------------Chairperson of the Corporate Trustee Date 14[th] December 2022 ---------------------------------------------- --------------------------------------------------- Chief Executive of the Corporate Trustee Date

Page 16 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

6.3. Independent Examiner’s Report to the Trustees of Bradford Hospitals Charity

I report to the trustees on my examination of the accounts of Bradford Hospital Charity for the year ended 31[st] March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and the related notes 1 to 23.

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 Company’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 Institute of Chartered Accountant in England & 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:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act: or

  2. the accounts do not accord with those records; or

  3. the accounts 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.

Paul Hewitson FCA

for and on behalf of Deloitte LLP Leeds, UK 19 December 2022

Page 17 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

6.4. Statement of financial activities for the year ended 31 March 2022

Notes
Income from:
Donations and legacies
4
Other trading activities
5
Investment income
7
Total
Expenditure on:
Raising funds
8
Charitable activities
9
Medical equipment
Staff education & welfare
Patient welfare
Other expenditure
Charitable activities total
Total
Net gains on investments
16
Net (Expenditure) / Income
Net movement in funds
Reconciliation of funds
Total funds brought forward
22
Total funds carried forward		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
funds
Total
funds
2022
2022
2022
2022
2021
£000
£000
£000
£000
£000
139
19
0
158
797
100
7
0
107
124
37
0
0
37
36
276
26
0
302
957
(116)
(6)
0
(122)
(101)
(34)
0
0
(34)
(98)
(203)
(18)
0
(221)
(416)
(122)
(12)
0
(134)
(209)
(37)
0
0
(37)
(17)
(396)
(30)
0
(427)
(740)
(512)
(36)
0
(548)
(841)
61
0
13
74
255
(175)
(10)
13
(172)
371
(175)
(10)
13
(172)
371
2,013
88
289
2,390
2,019
1,838
78
302
2,218
2,390

The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 21 to 36 form part of these accounts and the comparative Statement of financial activities on page 25.

Page 18 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

6.5. Balance Sheet as at 31 March 2022

Note
Fixed assets
Investments
16
Total fixed assets
Current assets
Debtors
17
Cash and cash equivalents
18
Total current assets
Liabilities
Creditors due within one year
19
Net current assets
Total assets less current
liabilities
Total net assets
The funds of the Charity:
22
Unrestricted funds
Restricted funds
Designated funds
Endowment funds
Total Charity funds		 Unrestricted
funds
Restricted
funds
Endowment
funds
Total
funds
Total funds
2022
2022
2022
2022
2021
£000
£000
£000
£000
£000
1,281
0
239
1,520
1,457
1,281
0
239
1,520
1,457
66
0
0
66
129
553
78
63
694
909
619
78
63
760
1,038
(62)
0
0
(62)
(105)
557
78
63
698
933
1,838
78
302
2,218
2,390
1,838
78
302
2,218
2,390
152
0
0
152
325
0
78
0
78
88
1,686
0
0
1,686
1,688
0
0
302
302
289
1,838
78
302
2,218
2,390

These accounts together with notes on pages 21 to 36 were approved and authorised for issue by the Corporate Trustee on:

14[th] December 2022 ------------------------------------------------------------------------------------------------Director of Finance Date

Page 19 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

6.6. Statement of Cash Flows for the year ending 31 March 2022

Note
Cash flows from operating activities:
Net cash used in operating activities
20
Cash flows from investing activities:
Dividends and interest from investments
7
Proceeds from sales of investments
16
Purchase of investments
16
Net cash (used in) investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the beginning
of the reporting period
18
Cash and cash equivalents at the end of
the reporting period
18		 Total funds 2022
£000
Total funds 2021
£000
(201)
(134)
37
36
135
240
(186)
(293)
(14)
(18)
(215)
(152)
909
1,061
694
909

The Charity had no cash equivalents as at 31 March 2022 (2021: None)

Page 20 of 36

Bradford Hospitals’ Charity - 1061753

Annual Report and Accounts for the year ended 31 March 2022

Notes to the accounts

1.0

Accounting policies

a. Basis of preparation of the financial statements

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) issued in October 2019 and the Charities Act 2011 and UK Generally Accepted Practice. The Charity constitutes a public benefit entity as defined by FRS102.

The significant accounting policies are set out below.

b. Accounting convention

The financial statements are prepared under the historic cost convention, except for investments which are held on a revaluation basis. The Corporate Trustee has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future as it does not intend to liquidate the Charity or to cease its operations. The Corporate Trustee considers that there are no material uncertainties that could cast doubt over the Charity’s ability to continue as a going concern for a period of at least twelve months from the date of signing the accounts. A robust reserve policy, strengthened by the fact the Charity has no material long term commitments, and having internal governance to ensure the Charity is only spending funds that are available, allows the Corporate Trustee to consider the Charity to be a going concern.

c. Income

Income is recognised once the charity has entitlement to the resources, it is probable (more likely than not) that the resources will be received and the monetary value of income can be measured with sufficient reliability.

Where there are terms or conditions attached to income, 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.

d. Accounting for legacies

Legacies are accounted for as income either upon receipt or where the receipt of the legacy is probable. Receipt is probable when:

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. Investment income

Dividends are included in the Statement of Financial Activities when they are declared and at an amount which includes the tax credit recoverable from HM Revenue and Customs.

Page 21 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

f. Recognition of liabilities

Liabilities are recognised on the accrual’s basis in accordance with generally accepted accounting practice.

g. Expenditure

Expenditure is accounted for on the accruals basis and has been classified under appropriate headings.

Expenditure is recognised when the following criteria are met:

Irrecoverable VAT is charged against the appropriate heading for the expenditure on which it was incurred.

h. Commitments

Expenditure is recognised as a commitment liability where a recipient has a reasonable expectation that they will receive the assets or services in lieu of a grant.

i. Fundraising costs

Fundraising costs are those costs attributable to generating income for the Charity and are distinct from costs incurred in undertaking charitable activities.

j. Allocation of support costs

Support costs are those costs which do not relate directly to a single activity. These include some staff costs, costs of administration and internal audit and external independent examination (audit) costs. Support costs have been apportioned between fundraising costs and charitable activities on an appropriate basis. The analysis of support costs and the basis of apportionment applied are shown in note 12.

k. Charitable 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 9.

l. Realised and unrealised gains and losses

Realised gains and losses are included in the accounts at the date on which a contractual obligation is entered into.

Unrealised gains and losses are computed by reference to the market value of the investments at the balance sheet date as compared to the brought forward cost or valuation, and gains and losses arising on similar categories of investments are netted off.

m. Investments held by the Charity

Page 22 of 36

Bradford Hospitals’ Charity - 1061753

Annual Report and Accounts for the year ended 31 March 2022

Investments are stated at mid-market value at the balance sheet date. Investments in non-puttable ordinary shares (where shares are publicly traded, or their fair value is reliably measurable) are measured at fair value through the Statement of Financial Activities. Where fair value cannot be measured reliably, investments are measured at cost less impairment. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

n. Taxation

As a registered charity, the Charity is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only.

o. Fund’s structure policy

The Charity maintains a General (unrestricted) Fund, which comprises monies which are expendable at the discretion of the Corporate Trustee in the furtherance of the objects of the Charity. These monies may be held in order to finance both working capital and capital investment.

Designated Funds are that part of the Charity's unrestricted funds in respect of which a preference has been expressed by donors that they be used for particular purposes. The Corporate Trustee has the power to redesignate such funds within unrestricted funds.

Endowment Funds are funds which are to be used in accordance with specific restrictions imposed by the donor in the sense that the restriction requires the gift to be invested to produce income. Where the Corporate Trustee has the power to spend the capital, these are expendable endowments. The Charity has five expendable endowments and one permanent endowment, which are disclosed in note 22.

Restricted Funds are funds to be used in a specific way or for a specific purpose. They are considered as a contract between the donor and the Charity.

There is no formal policy of transfer between funds other than that described above.

p. Debtors

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

q. 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. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Amounts which are owed in more than a year are shown as long-term creditors.

r. 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 at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 23 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

s. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, which are described in note 1, the Corporate Trustee is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

The Corporate Trustee does not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure.

t. Gifts in kind

Gifts in kind, such as food and care packages are not accounted for when they are accepted and immediately distributed. Gifts of tangible assets such as microwaves and fridges are recognised as a donation at fair value (market price) on receipt and charitable expenditure when they are distributed. Where gifts in kind are held before being distributed to beneficiaries, they are recognised at fair value as stock until they are distributed.

Page 24 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

2.0 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 each of the three types of fund that the Charity manages.

2.1 Unrestricted funds – Statement of Financial Activities for the year ended 31 March 2022

Notes
Income from:
Donations and legacies
4
Other trading activities
5
Investments
7
Total
Expenditure on:
Raising funds
8
Charitable activities
9
Medical equipment
Staff education & welfare
Patient welfare
Other activities
Total
Net gains on investments
16
Net (expenditure) / income
Net movement in funds
Reconciliation of funds
Total funds brought forward
22
Total funds carried forward		 2022
2021
£000
£000
139
431
100
100
37
36
276
567
(116)
(75)
(34)
(15)
(203)
(270)
(122)
(164)
(37)
(15)
(396)
(464)
(512)
(539)
61
215
(175)
243
(175)
243
2,013
1,770
1,838
2,013

Page 25 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

Unrestricted funds – Balance Sheet as at 31 March 2022

Notes
The assets and liabilities of the Charity:
Fixed Assets
Investments
16
Total fixed assets
Current assets
Debtors
17
Cash and cash equivalents
18
Total current assets
Liabilities: -
Creditors due within one year
19
Net current assets
Total assets less current liabilities
Total net assets
22
Total assets for unrestricted funds		 As at 31 March
2022
As at 31 March
2021
£000
£000
1,281
1,231
1,281
1,231
66
118
553
766
619
884
(62)
(102)
557
782
1,838
2,013
1,838
2,013
1,838
2,013

2.2 Restricted funds – Statement of Financial Activities for the year ended 31 March 2022

Notes
Income from:
Donations and legacies
4
Other trading activities
5
Income from investments
7
Total
Expenditure on:
Raising funds
8
Charitable activities
9
Medical equipment
Staff education & welfare
Patient welfare
Other activities
Total
Net gains/(losses) on investments
16
Net (expenditure) / income
Net movement in funds
Reconciliation of funds		 2022
2021
£000
£000
19
366
7
24
0
0
26
390
(6)
(26)
(0
(82)
(18)
(146)
(12)
(45)
0
(3)
(36)
(276)
(10)
(302)
0
0
(10)
88
(10)
88

Page 26 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

Total funds brought forward
22
Total funds carried forward
Restricted funds – Balance Sheet as at 31 March 2022
Notes
The assets and liabilities of the Charity:
Fixed Assets
Investments
16
Total fixed assets
Current assets
Debtors
17
Cash and cash equivalents
18
Total current assets
Liabilities: -
Creditors due within one year
19
Net current assets
Total assets less current liabilities
Total net assets
22
Total assets for restricted funds		 88
0
78
88
As at 31 March
2022
As at 31 March
2021
£000
£000
0
0
0
0
0
11
78
80
78
91
0
(3)
78
88
78
88
78
88
78
88

2.3 Expendable Endowment funds – Statement of Financial Activities for the year ended 31 March 2022

The Charity has five expendable endowment funds (capital in perpetuity funds (CIP)), with a combined balance of £62,290 (2021: £62,290) and one permanent endowment fund, with a balance of £239,316 (2021: £226,463), that have been brought forward from previous years. During 2021-22, any income received has been recognised within the investment income.

The permanent endowment fund has been invested with the Charles and Elsie Sykes Trust.

3.0 Related party transactions

The Trust (which succeeded Bradford Teaching Hospitals NHS Trust on 1 April 2004) is the Corporate Trustee of the Charity and is governed by the law applicable to Trusts, principally the Trustee Act 2000 and the Charities Act 2011. The Trust Board of Directors has devolved responsibility for the on-going management of funds to the Committee, which administers the funds on behalf of the Corporate Trustee. No trustee remuneration was paid in the year by the Charity from the Trust. None of the trustees or members of the Trust or parties related to them has undertaken any transactions with the Charity or received any benefit from the Charity in payment or kind.

Related party expenditure transactions relate to items such as salary recharges and internal audit fees with the Trust.

Page 27 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

Payables

The following amounts were owed by the Charity to the Trust as at
31 March
Expenditure
Value of transactions during the year with the Trust		 2022
2021
£000
£000
13
66
13
66
2022
2021
£000
£000
284
323
284
323

4.0 Income from donations and legacies

Donations from
individuals
Legacies
Gifts in Kind
Grants
Total		 Unrestricted funds
£000
Restricted funds
£000
Total 2022
£000
Total 2021
£000
59
13
72
309
54
0
54
114
25
0
25
171
1
6
7
203
139
19
158
797

Donations from individuals are from members of the public, patients and relatives of patients and staff. Donations of gifts in kind have been valued at their market value. All these donations have been distributed during the year.

5.0 Analysis of income from other trading activities

Staff lottery
Fundraising
Total		 Unrestricted funds
£000
Restricted funds
£000
Total 2022
£000
Total 2021
£000
42
0
42
48
58
7
65
76
100
7
107
124

The staff lottery is operating within the guidelines set out by the Gambling Commission.

6.0 Role of volunteers

The Charity does not have any general volunteers, but it does have approximately 100 fund holders. The fund holders are Trust staff members who manage how the Charity’s designated funds should be spent, as part of their day-to-day duties. These funds are designated (or earmarked) to be spent for a particular purpose or in a particular ward or department. Each fund holder has delegated powers to approve spend for the designated funds that they manage, subject to the scheme of delegation as approved by the Corporate trustee.

Page 28 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

7.0 Gross investment income

The Charity earned interest and investment income of £36,841 (2021: £35,856).

8.0 Analysis of expenditure on raising funds

Fundraising costs
Support costs
Total		 Unrestricted funds
£000
Restricted funds
£000
Total 2022
£000
Total 2021
£000
18
0
18
3
98
6
104
98
116
6
122
101

9.0 Analysis of charitable expenditure

The Charity did not make any grant funding to third parties. All the charitable expenditure incurred was directly with third parties or reimbursed expenditure.

Unrestricted funds
Medical equipment
Staff education &
welfare
Patient welfare
Other activities
Restricted funds
Medical equipment
Staff education &
welfare
Patient welfare
Other activities		 Direct
charitable
activities
£000
Support
costs
£000
Total 2022
£000
Direct
charitable
activities
£000
Support
costs
£000
Total 2021
£000
25
9
34
13
2
15
152
51
203
228
42
270
91
31
122
139
25
164
28
9
37
12
3
15
296
100
396
392
72
464
Direct
charitable
activities
£000
Support
costs
£000
Total 2022
£000
Direct
charitable
activities
£000
Support
costs
£000
Total 2021
£000
0
0
0
74
7
83
15
3
18
133
13
146
10
2
12
41
4
45
0
0
0
1
1
2
25
5
30
251
25
276

10.0 Analysis of grants

The Charity did not make any grants to individuals or other institutions.

Page 29 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

11.0 Movements in funding commitments and liabilities

Opening balance as at 01
April
Additional commitments
made during the year
Amounts paid during the year
Closing balance as at 31
March		 Current liabilities
£000
Non-current
liabilities
£000
Total 2022
£000
Total
2021
£000
105
0
105
342
549
0
549
841
(592)
0
(592)
(1,078)
62
0
62
105

The Charity has expenditure that has been approved but not yet delivered or services not yet provided. Most expenditure is paid out in the same financial year. As the Charity has control over the expenditure, there is little uncertainty around these payments.

12.0 Allocation of support costs and overheads

Internal audit
External audit
Other
Governance
Salaries
Computer
expenses
Total		 Raising
funds
£000
Charitable
activities
£000
2022
Total
£000
Raising
funds
£000
Charitable
activities
£000
2021
Total
£000
Basis
0
0
0
(1)
(1)
(2)*
Salaries
6
8
14
3
4
7
Salaries
6
8
14
6
7
13
Salaries
12
16
28
8
10
18
88
88
175
86
85
171
Hours
4
2
6
4
2
6
Salaries
104
105
209
98
97
195

*Relates to the reversal of an over accrual in 2021

Salaries: this is proportionate to staff salaries where costs are related to the employed staff

Raising funds
Charitable activities
Raising funds		 Unrestricted
funds
£000
Restricted
funds
£000
Endowment
funds
£000
2022
Total
£000
98
6
0
104
100
5
0
105
198
11
0
209
Page 30 of 36
Unrestricted
funds
£000
Restricted
funds
£000
Endowment
funds
£000
2021
Total
£000
72
26
0
98

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

Charitable activities 72
25
0
97
144
51
0
195

13.0 Trustees’ remuneration, benefits and expenses

The Corporate Trustee receives no remuneration for the work it undertakes as trustee and claims no expenses from the Charity.

14.0 Analysis of staff costs and remuneration of key management personnel

Key management personnel is a term used by FRS 102 for those persons having authority and responsibility for planning, directing and controlling the activities of the charity, directly or indirectly, including any director (whether executive or otherwise) of the charity. This definition includes trustees and those members of staff who are the senior management personnel to whom the trustees have delegated significant authority or responsibility in the day-to-day running of the charity.

Salaries and wages
National insurance costs
Employer’s pension contribution
Total		 2022
£000
2021
£000
142
138
13
13
20
20
175
171

The Charity does not employ members of staff. The administration and fundraising are carried out by staff from the Trust and recharged to the Charity as a single cost . No employees had emoluments in excess of £60,000 (2021: £nil).

15.0 Independent Examiner’s remuneration

The independent examiner’s remuneration of £6,772 (2021: £6,778) related solely to the independent examination with no other additional work being undertaken. In 2021, the Charity had an audit of its accounts.

16.0 Fixed asset investments

Investments held with Rathbones Investment Management:


Market value at 01 April
Add: additions at cost
Less: disposals at carrying value and in year gain / (loss) on disposals
Add: net gain / (loss) on revaluation
Add: net gain / (loss) on disposals
Less: Movements in broker held bank accounts
Market value at 31 March of unrestricted investments		 2022
2021
£000
£000
1,231
0
187
293
(125)
(228)
61
215
11
12
(84)
(87)
1,281
1,231

Page 31 of 36

Bradford Hospitals’ Charity - 1061753

Annual Report and Accounts for the year ended 31 March 2022

Fixed asset investment by type


Fixed Interest
UK Equities
Overseas Equities
Alternatives
Total listed investments
Cash
Market value at 31 March of unrestricted investments		 2022
2021
£000
£000
174
173
296
281
407
392
348
244
1,225
1,090
56
141
1,281
1,231

The historic cost of investments held with Rathbones Investment Management is £1,150,000 (2021: £1,150,000).

Investments held with the Charles and Elsie Sykes Trust:


Market value at 01 April
Add: additions at cost
Add net gain (loss) on revaluation
Market value at 31 March of the permanent endowment fund
Fixed asset investment by type
Equities
Bonds
Real Estate
Alternatives
Total listed investments
Cash
Market value at 31 March of the permanent endowment fund
Total value of investments held at 31 March		 2022
2021
£000
£000
226
186
0
0
13
40
239
226
2022
2021
£000
£000
175
180
32
33
6
5
5
5
218
223
21
3
239
226
1,520
1,457

The historic cost of investments held with Charles and Elsie Sykes Trust is £228,365 (2021 £228,365).

Included in the above figures, are investment management charges of £11,563 (2021: £10,198).

17.0 Analysis of current debtors


Prepayments and accrued income
NHS Debtor
Total		 2022
£000
2021
£000
66
118
0
11
66
129

As at 31 March 2022, the Charity had been notified of a residuary legacy. No amount has been accrued for this but is estimated to be £172,000.

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Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

18.0 Analysis of cash and cash equivalents

Analysis of cash and cash equivalents

Cash in hand
Total		 2022
£000
2021
£000
694
909
694
909

No cash or cash equivalents were held in non-cash investments or outside of the UK. The Charity had no cash equivalents as at 31 March 2022 (2021: None)

19.0 Analysis of liabilities


Creditors due within 1 year
NHS Creditor
Accruals
Other creditors
Commitments
Total		 2022
£000
2021
£000
16
76
0
1
46
26
0
2
62
105

The Charity has no creditors falling due after more than 1 year and has no contingent liabilities. An amount of £12,962 is owed to the Trust.

20.0 Reconciliation of net expenditure to net cash flow from operating activities

Net (expenditure) / income (as per the statement of financial
activities)
Adjustments for:
Interest from Investments
Loss on the sale of fixed assets
(Gains) on investments
Decrease / (increase) in debtors
(Decrease) in creditors
Net cash used in operating activities		 2022
£000
2021
£000
(172)
371
(37)
(36)
62
65
(74)
(255)
63
(42)
(43)
(237)
(201)
(134)

21.0 Transfers between funds

There has been no transfer of funds between restricted and unrestricted funds.

Page 33 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

22.0 Analysis of charitable funds

a) Analysis of unrestricted and material designated fund movements

General Fund
Bradford Cardiac
Rays A Smile
Born In Bradford
Ward 15 Legacy
Sunshine Fund
ICU Fund
The HJ Gajdecki Fund
NNU Appeal
Other designated funds
Total
General Fund
Bradford Cardiac
Rays A Smile
Born In Bradford
Ward 15 Legacy
Other designated funds
Total		 2022
Balance b/f
£000
2022
Income
£000
2022
Expenditure
£000
2022
Gains and
losses
£000
2022
Fund c/f
£000
324
1
(174)
0
151
103
166
(35)
0
234
5
3
(2)
0
6
50
0
(6)
0
44
69
0
(8)
0
61
94
10
(25)
0
79
68
6
(8)
0
66
70
0
0
0
70
72
28
(22)
0
78
1,158
62
(232)
61
1,049
2,013
276
(512)
61
1,838
2021
Balance b/f
£000
2021
Income
£000
2021
Expenditure
£000
2021
Gains and
losses
£000
2021
Fund c/f
£000
409
25
(110)
0
324
118
10
(25)
0
103
53
2
(50)
0
5
55
0
(5)
0
50
77
0
(8)
0
69
1,058
530
(341)
215
1,462
1,770
567
(539)
215
2,013

An exercise to reduce the number of trust funds to four main funds will be taking place over the next three years.

b) Analysis of restricted fund movements

Covid Fund
Total		 2022
Balance b/f
£000
2022
Income
£000
2022
Expenditure
£000
2022
Gains and
losses
£000
2022
Fund c/f
£000
88
26
(36)
0
78
88
26
(36)
0
78

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Bradford Hospitals’ Charity - 1061753

Annual Report and Accounts for the year ended 31 March 2022

c) Analysis of endowment fund movements


Bradford Teaching Hospitals NHS Trust
CIP
Elsie Sykes Permanent Endowment
Fund
Orthopaedic CIP
Paediatric CIP and 2 other CIPs
Total
2022
Balance b/f
£000
2022
Income
£000
2022
Expenditure
£000
2022
Gains and
losses
£000
2022
Fund c/f
£000
54
0
0
0
54
226
0
0
13
239
7
0
0
0
7
2
0
0
0
2
289
0
0
13
302

In 2019/20, the permanent endowment fund was invested with the Charles and Elsie Sykes Trust. The funds are held by the Charles and Elsie Sykes Trustees on trust for the Charity. The £12,853 relates to an unrealised gain based on share values as at 31 March 2022.

Bradford Teaching Hospitals NHS Trust
CIP
Elsie Sykes Permanent Endowment
Fund
Orthopaedic CIP
Paediatric CIP and 2 other CIPs
Total		 2021
Balance b/f
£000
2021
Income
£000
2021
Expenditure
£000
2021
Gains and
losses
£000
2021
Fund c/f
£000
54
0
0
0
54
186
0
0
40
226
7
0
0
0
7
2
0
0
0
2
249
0
0
40
289

23.0 The Charity as a subsidiary

The Trust, its patient’s and its staff are the main beneficiaries of the Charity. The Trust is a related party by virtue of being the Corporate Trustee of the Charity. For accounting purposes, this means that the Charity is deemed to be a subsidiary of the Trust as it is 'controlled' by another entity through the trusteeship arrangements.

All Trusts are required to have a constitution, containing detailed information about how that Trust will operate. The purpose of the Trust is set out in its Constitution as follows:

The principal purpose of the Trust is the provision of goods and services for the purposes of the health service in England.

The Trust may provide goods and services for any purposes related to:

The Trust accounts are available to the public online at the following web address:

Page 35 of 36

Bradford Hospitals’ Charity - 1061753 Annual Report and Accounts for the year ended 31 March 2022

https://www.bradfordhospitals.nhs.uk

They are also available by request from the Trust Secretary, using the details below:

Trust Secretary Trust Headquarters Bradford Royal Infirmary Bradford, BD9 6RJ

Page 36 of 36