OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

1. Complete NHSBT Trust Fund Annual report and Accounts 2020-21

NHSBT Trust Fund Accounts and Letter lo the Auditors Page 2 of 35 NHS Blood and Transplant NHS Blood and Transplant Trust Fund ANNUAL REPORT AND ACCOUNTS for the financial year ended 31 March 2021

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 3 of 35

OFFICE AND REGISTERED ADDRESS :

NHS Blood and Transplant Barnsley Blood Centre (Unit D) Capitol Way Dodworth Barnsley S75 3FG Registered Charity No.1061771

BANKERS :

Lloyds Bank Edgware Station Road Edgware Middlesex HA8 7JL

This Report is a public Document, copies of which may be ordered from: Rob Bradburn, Finance Director at the registered address.

----- Start of picture text -----
- 1 -
----- End of picture text -----

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 4 of 35

Contents Trust Fund Annual Report and Accounts 31 March 2021 Contents Trust Fund Annual Report and Accounts 31 March 2021 Contents Trust Fund Annual Report and Accounts 31 March 2021
1 Foreword 3
2 Reference and Administrative Details 3
3 Authority Board 2020 – 2021 4
4 Trust Fund Committee 4
5 Structure, Governance and Management 5
6 Fund Objectives and Activities 8
7 Achievements and Performance 9
8 Financial Review 12
Statement of Financial Activities Year ended 31 March
2021		 16
Balance Sheet as at 31 March 2021 17
Notes to the Accounts 18
Glossary 27
Independent Examination 28

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 5 of 35

1. Foreword

The Corporate Trustee, NHS Blood and Transplant, presents the charitable funds’ Annual Report together with the Financial Statements for the year ended 31 March 2021.

The Charity’s Annual Report and Accounts for the year ended 31 March 2021 have been prepared by the Corporate Trustee in accordance with the Charities Act 2011.

The Report provides detail of the funds held on charitable trust by the Trustee. The report describes and explains the matters involved in the management of those funds, informs the reader as to how the funds have been used during the year and should be read in conjunction with the annual accounts on pages 18 to 28.

2. Reference and Administrative Details

NHS Blood and Transplant is a statutory body that was established under Statutory Instrument 2005 No. 2529 and No. 2531 on 1 October 2005. The authority was formed from the merger of the National Blood Authority and UK Transplant and, by virtue of the powers vested in it through the NHS and Community Care Act 1990, is able to hold funds on trust, as a Corporate Trustee. Charitable funds held by the National Blood Authority were transferred to NHS Blood and Transplant under a Deed of Variation executed under seal by the Charity Commission. There were no charitable funds held by UK Transplant.

The charitable funds are registered under an umbrella registration with the Charity Commission in accordance with the Charities Act 2011. The registered Charity Number is 1061771. The charitable Trust name is: NHS BLOOD AND TRANSPLANT TRUST FUND

The charity constitutes a single fund as at 31 March 2021 (2019/2020: 3), and the notes to the accounts distinguish the types of fund held. For accounting purposes in prior years, the umbrella registration permitted the production of a single report and set of accounts. This did not obviate the requirement to manage each fund as a separate trust for the purpose of maintaining books for accounts and for investment management .

The Corporate Trustee is NHS Blood and Transplant, and the Board acts as an agent of the Corporate Trustee. Members of the Board of NHS Blood and Transplant who served during the year are shown overleaf:

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 6 of 35

3. Authority Board NHSBT 2020 - 2021

Chair Ms Millie Banerjee to 6[th] August 2021

Mr John Pattullo Interim Chair from 6[th] August 2021.

Non-executive Directors Ms Helen Fridell

Mr Phil Huggon – from March 2021 Professor Deidre Kelly – from July 2020 Ms Joanna Lewis – from March 2021 Mr Charles St John Professor Paresh Vyas Mr Piers White Mr Keith Rigg – left June 2020 Mr Jeremy Monroe – left February 2021

Executive Directors

Ms Betsy Bassis – Chief Executive and Accounting Officer Mr Rob Bradburn – Director of Finance Mr Anthony Clarkson – Director of Organ Donation and Transplantation Mr Greg Methven – Director of Manufacturing and Logistics Dr Gail Miflin – Chief Medical Officer and Director of Clinical Services

4. Trust Fund Committee

The NHS Blood and Transplant Board, the Corporate Trustee, delegates responsibility for the ongoing management. The members of the Trust Fund Committee during the year 2020/21 were as follows:

Mr Charles St John Chair and Non-Executive Director Mr Rob Bradburn Finance Director NHS Blood and Transplant Dr Gail Miflin Chief Medical Officer and Director of Clinical Services NHS Blood and Transplant – left February 2021 Ms Katherine Robinson Director of People NHS Blood and Transplant – left October 2020 Ms Patricia Grealish Interim Director of People NHS Blood and Transplant – from October 2020

In regular attendance:

Ms Linda Haigh Assistant Director Finance Operations NHS Blood and Transplant and Secretary to the Committee

Acting for the Corporate Trustee, the Trust Fund Committee is responsible for the overall management of the charitable fund. The Committee is required to:

Page 7 of 35

NHSBT Trust Fund Accounts and Letter to the Auditors

The Corporate Trustee is responsible for preparing the Trustee 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 & 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 Corporate Trustee is 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 irregularities.

The Corporate Trustee is also responsible for the maintenance and integrity of the charity and financial information included on the NHSBT website.

Although NHSBT Trust Funds are able to hold non-charitable funds on trust, to do so would be to incur additional Trustee and related administrative responsibilities. The Trust Fund held no noncharitable funds on trust during the year.

5. Structure, Governance and Management

The Department of Health and Social Care appoints Non-Executive members of the Board. Executive members of the Board are recruited by the Board of NHS Blood and Transplant. Members of the Board and the Trust Fund Committee are not individual trustees under Charity Law but act as agents on behalf of the Corporate Trustee.

The Committee agrees an annual work plan and held four meetings during the financial year 2020/21. The Committee was chaired by Charles St John. Attendance at meetings is shown below:

Meeting Dates May 2020 July 2020 November 2020 February 2021
Charles St John
Rob Bradburn
Gail Miflin - *
Katherine Robinson * *
Patricia Grealish * *

NHSBT Trust Fund Accounts and Letter to the Auditors All members of the Trust Fund Committee are provided with a copy of Committee terms of reference, procedure and guidance notes, copies of the annual report and accounts, and information about trusteeship. Updated guidance and news from the Charity Commission is also circulated to Committee members. At the end of the financial year the Committee provides the NHSBT Board with an annual report on the work undertaken during the year.

Page 8 of 35

The Charity holds a single unrestricted general fund. The two former restricted funds, the Howard Ostin Bequest and the British Bone Marrow Donor Appeal (BBMDA), were formally merged into the unrestricted fund during the course of 2020/21. The total value of charitable funds held on trust at the end of the year, with investment assets valued at market value, was £134k (£112k 31 March 2020).

The Corporate Trustee fulfils its legal duty by ensuring that funds are spent in accordance with the objects of each fund, and by designating funds the Trustee ensures that the wishes of donors are respected.

The Trust Fund Committee considers all applications for funding. For research applications a ‘peer review’ process by the NHSBT Clinical Services Senior Management Team occurs prior to submission to the Trust Fund Committee. All spending during the year is authorised by the Trust Fund Committee under delegated authority from the Board. Decisions to spend funds take into account whether the purpose of the request meets the charity’s objectives and whether there are funds available to meet that expenditure.

NHSBT Trust Fund Accounts and Letter to the Auditors NHSBT’s corporate strategy

Page 9 of 35

NHS Blood & Transplant (NHSBT) is a Special Health Authority in England and Wales and is also accountable to the Scottish and Northern Ireland Health Departments for providing UK wide services in support of Organ Donation and Transplantation.

NHSBT’s mission and strategic ambition

NHSBT’s mission is to save and improve lives.

To save and improve even more lives in the years to come, NHSBT has adopted four corporate strategic priorities:

  1. Diversify and strengthen our donor base;

  2. Modernise and extend our established services;

  3. Develop and grow new and high-potential services; and

  4. Make NHSBT a great place to work for everyone.

NHSBT has also recognised that, as a national provider of specialist products and services operating in a system of local Trusts, we have a responsibility to provide system leadership to improve clinical outcomes, reduce health inequalities and optimise resources. We look forward to working more proactively with our NHS colleagues on delivering these improvements.

NHSBT’s core purpose To provide a safe and sustainable supply of blood components, organs, stem cells, tissues and related diagnostic services to the National Health Service.

NHSBT’s values - Three small words, one big difference.

Caring about our donors, their families, our staff and the patients we serve Being expert in meeting the needs of our customers and partners Providing quality products, services and experiences for donors, staff and patients

NHSBT’s annual report and accounts is also a public document, a copy of which can be requested from the NHSBT Finance Office at the address below:

NHS Blood and Transplant

Finance Operations Team NHSBT Barnsley S75 3FG

NHSBT Trust Fund Accounts and Letter to the Auditors 6. Fund Objectives and Activities

Page 10 of 35

The General Fund (£134k) is an unrestricted income fund and the property therein may be used at the discretion of the Trustee for charitable purposes, wholly or mainly for the services provided by NHS Blood and Transplant. Part of the unrestricted fund may be earmarked for a particular project and designated as a separate fund for administrative purposes. £22.9k has been separately designated by the Trustee in this manner.

The General Fund receives donations that can be used for any charitable purpose relating to the NHS, including furthering the general aims of NHS Blood and Transplant and supporting staff welfare.

During 2020/21, the Trustee formally dissolved the separate charitable registrations of the Howard Ostin Bequest and the British Bone Marrow Donation Appeal (BBMDA) and their associated restricted funds. The remaining cash balances and commitments were reallocated to the General Fund.

In accordance with Section 222 National Health Service Act 2006, these funds must remain separately designated.

At 31 March 2021 the Howard Ostin Bequest designation had a fund balance of £nil (comprising cash of £20.6k and project commitments to the same value). The British Bone Marrow Donation Appeal has been exhausted: a small balance of £1k remained at the time of transfer, and this was split equally between the Anthony Nolan Trust and DKMS: UK so as to ensure compliance with the original conditions of the fund.

Public Benefit

The aim of the Charity is to save and improve patients’ lives. Thus the Charity will support noncommercial research in areas where the Corporate Trustee has considerable expertise with a view to improving blood, tissue and organ safety. In planning the activities of the Charity and agreeing a budget for the year the Trustee has given careful consideration to the Charity Commission’s guidance on public benefit. The Charity has achieved its aims with a focus on funding research projects. Grants received specifically for the purpose of staff welfare and to support recovery from COVID-19 have been spent according to the grant conditions.

NHSBT Trust Fund Accounts and Letter to the Auditors 7. Achievements and Performance

Page 11 of 35

Review of Activities undertaken for the Public Benefit and furtherance of the Charity’s objectives

There were three research projects being actively funded during 2020/21. These were:

Clinical SMT received reports from a further 3 research projects which were live during the course of 2020/21 and had previously received awards from the Trust Funds. These were:

The project was suspended in spring 2020 due to Covid-19. NHSBT continued to develop Quality Control assays and has manufactured MSCs under Good Manufacturing Practice (GMP). Data will be provided for submission in an Investigational Medicinal Product Dossier (IMPD) to the Medicines and Healthcare products Regulatory Agency (MHRA). Upon acceptance by the MHRA and resumption of clinical trials it is planned to resume the MSC trial.

No new research grant awards were made during 2020/21 due to the Committee’s wish for any funds issued to be enough to make a sizeable impact on the area of work in question. Proposals for a new research grant have been received in 2021/2022.

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 12 of 35

The Committee also spent NHS Together Grants totalling £76k on NHSBT colleague wellbeing in the year. (see note 4.3). These grants were raised through public donation for the benefit of NHS staff and patients and to aid the recovery from COVID-19. At NHSBT we do not directly care for patients (with the exception of our Therapeutic Apheresis Services which treat around 1900 patients per annum) and so we consulted our colleagues on how to spend the early grants and later conducted wellbeing surveys to ensure the grants were being spent to best meet the wellbeing needs of colleagues related to COVID -19. The early grants were spent on i-pads for colleagues and donors to stay connected at Blood Donation sessions. We also bought equipment for outdoor spaces at our centres to support colleagues to take breaks outside where protective masks were not required and we funded on-line counselling sessions to support colleagues who for example were suffering from bereavement. With other grants we funded online exercise classes by Mr Motivator which encouraged physical and mental wellbeing for those who joined them. We also funded well-being kiosks to tour our sites and help colleagues monitor their physical health over the pandemic period so that we could support our colleagues to maintain fitness and so reduce the effects of COVID-19 should they become unwell. We also funded critical incident de-briefs for colleagues who worked in acutely stressful roles during the pandemic including those who were seconded to work in intensive care units and on bereavement helplines where they were exposed to multiple bereavements on a daily basis. All the wellbeing provision has been evaluated to assess the benefits obtained and so we could continue to improve the provision. Feedback from those using the services provided has been overwhelmingly positive. On behalf of our colleagues receiving this support we would like to thank NHS Charities Together and members of the public who raised and donated money to support our wellbeing. Thank you!

The Committee also used a £2k grant received for refreshments from Starbucks. The Committee recognised the importance of colleague contributions during the year and provided vouchers for the recipients of awards at our annual award ceremony which was held online this year. Colleagues who received awards included those who had made significant contributions to the world first Convalescent Plasma programme which was established to provide trial treatments for COVID-19 patients and also those colleagues who had gone ‘above and beyond’ (some moving out of their homes for long periods) to maintain continuity of blood supply while also keeping their families safe.

Investment Performance

The Trust Fund (General Fund) previously held 994 ordinary shares in National Grid. Their value fell between 1 April 2020 and their sale on 25 August 2020 as a result of the general economic downturn caused by the coronavirus pandemic. The 2020/21 accounts therefore recognise a final realised loss of (£1k) .

Associated Charities and Other Bodies

The Corporate Trustee (NHSBT) as a public body, and principal beneficiary of the funds held on trust, has considerable influence on how the funds are used.

Thank You

We would like to say a heartfelt thank you to our donors, patients, relatives, NHS Charities Together and all members of the public who donated to support our charity and our colleagues this year. What we have been able to fund has made a significant difference to our colleagues and our ability to continue to serve patients through the Covid-19 pandemic.

Annual Accounts

NHSBT Trust Fund Accounts and Letter to the Auditors Page 13 of 35 The Regulations, the Charity Statement of Recommended Practice (SORP 2015) and the Accounting and Reporting Standards have specified three components to the final accounts:

i. Statement of Financial Activities (SOFA) (page 18)

NHSBT Trust Fund Accounts and Letter to the Auditors 8. Financial Review

Page 14 of 35

Income

The Charity relies on donations, legacies and grant income as the main sources of income. The Trustee does not actively fund raise. This means that future donations are likely to remain at relatively low levels.

The Charity’s main source of income in the year was grant income received from the national NHS Charities Together appeal. £240.1k was received in total: £76.4k of this has been recognised as income in 2020/21 and the remainder deferred until 2021/22 in line with grant accounting rules.

No investment income was received (2019/20 £2k) due to the Charity divesting of its only remaining investment holding in August 2020.

Otherwise, the Charity received donations from individuals or grateful relatives and friends totalling £12.4k (2019/20 £20k), and £11.3k legacies (2019/20 £nil).

Expenditure

Expenditure during the year was £83.4k less £4.1k in returned grants, giving a final total of £79.3k (2019/20 £71k). Of this, £76.4k was spend funded by the NHS Charities Together grants and a further £1.5k was spent on NHS Charities Together membership for the year.

Other expenditure was largely incidental as pandemic restrictions and temporary staff redeployment led to planned events being cancelled or deferred. £0.5k paid for fees on the Tissues artwork project, £0.6k went to purchasing leaflets for the Scottish Organ and Tissue Donation Memorial Garden, and £0.6k was split as a donation between the Anthony Nolan Trust and DKMS: UK as referenced in Section 6. Finally, £0.5k was contributed to refreshments at the staff awards ceremony in March. Retaining a motivated and stable workforce is crucial to NHSBT’s success, many colleagues went “above and beyond” to maintain delivery of critical services throughout the pandemic.

No grants were awarded (2019/20 none) and £4.1k was returned/credited (2019/20 £3k) giving a net total grant expenditure this year of (£4.1k) (2019/20 (£3k)) on an accruals basis. See note 4 for detail of grants.

The Charity will require an independent examination of its accounts this year, so £1.8K has been charged accordingly (2019/20 £nil). £0.3k was incurred in share-dealing costs (2019/20 £0.1k).

Investments

The investment balance of the Charity is now £nil (2020 £9k) following the sale of its final shareholding in August 2020.

Net current assets

The accounts show £223k (2020 £97k) held as cash at bank plus £92k (2020 £147k) cash held on deposit in an interest bearing account. Short term creditors of £142K (2020 £139k) relate primarily to deferred grant income, although that total does also include accrued research expenditure of £26k.

Debtors are £17.6k (2020 £nil), the result of two prepayments.

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 15 of 35

Income funds

The unrestricted general-purpose fund is valued at £134k (2020 £111k) and can be spent at the discretion of the Trustee. Balances in the two restricted funds, the Howard Ostin Bequest and the British Bone Marrow Donor Appeal are now £nil (2020 £1k) following the closure of those funds as described in Section 6.

Movement in funds

The net assets of the charitable Funds as at 31 March 2021 were £134k (31 March 2020 £112k). Overall net assets increased by £22k as the result of an excess of income over expenditure.

Movement in each of the three funds of the Charity are summarised below:

Fund
Name		 Fund
Balance
B/F £k		 Incoming
Resources
£k		 Outgoing
Resources
£k		 Realised
Gain/
(Loss) on
Investment
Assets £k		 Rounding
Correction
£k		 Fund
Balance
C/F £k
General
Fund		 111 100 (77) (1) 1 134
Howard
Ostin		 -
-
-
-
-		 -
BBMDA 1 -
(1)		 -
-		 -

The Charity does not employ any staff. Trustees do not charge for their time and the Trust Fund incurs no expenses relating to the work of the Trustee. The day to day administration of funds is undertaken by the NHSBT Finance department and no recharge is made for this work as costs are not material.

Risk Management

Previously, the most significant risk to the Charity was a potential loss from a fall in the value of investments. A review was undertaken to ensure that all commitments were covered by liquid assets (cash on deposit and in hand). This led to the decision to sell all investments, thereby reducing the risk profile of the Fund. The uncommitted reserves balance continues to be reviewed at each meeting to consider if grants can be made or if investments should be considered to balance the financing risks and opportunities. Other risks are considered and managed as part of the control and risk management processes that operate throughout NHS Blood and Transplant.

Reserves Policy

The Trustee’s policy is to keep funds to the minimum required to cover approved commitments in the belief that donations are made with the intention and expectation that they will be spent accordingly. In order to avoid the risk of the Charity’s reserves becoming overdrawn it is considered prudent to hold a level of funds that at a minimum covers a) the commitments made and b) the annual management and administration costs including independent examiner’s fees for the period of those commitments, together with the costs to close (including an appropriate level of contingency). The reserves available to spend balance is reviewed at each committee meeting prior to any new commitments being made.

The reserves policy is reviewed at least annually.

Future Commitments, Activities and Plans

NHSBT Trust Fund Accounts and Letter to the Auditors Page 16 of 35 The Trust Fund Committee works very closely with the Corporate Trustee to determine funding policy. Spending on research remains the main focus in expenditure plans for the medium term except for expenditure related to the NHS Charities together grants which were given with the purpose of funding initiatives to support staff (and patient) welfare.

NHSBT Trust Fund Accounts and Letter to the Auditors Page 17 of35 SIGNED FOR AND (*1 BEHALF OF THE CORPWTE TRUSTEE r John Pattullo Interim Chair of the NHSBT Board 15

NHSBT Trust Fund Accounts and Letter to the Auditors Charitable Funds Trust Account – NHS Blood and Transplant 2020 - 2021

Page 18 of 35

Statement of Financial Activities Year ended 31 March 2021

INCOME FROM:
Donations and legacies
Investments
Grants
TOTAL INCOME
EXPENDITURE ON:
Grant Expenditure
Other charitable activities
TOTAL EXPENDITURE
Net income/(expenditure)
before investment
gains/(losses)
Net gains/(losses) on
investments
Roundings correction
NET MOVEMENT IN
FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
as previously reported
Net movement in funds for
the year
Total funds carried
forward		 Unrestricted
Funds
£k
24
-
76
100
76
1
77
23
(1)
1
23
111
23
134		 Restricted
Funds
£k
-
-
-
-
-
1
1
(1)
-
-
(1)
1
(1)
-		 2020-21
Total
Funds
£k
24
-
76
100
76
2
78
22
(1)
1
22
112
22
134		 Unrestricted
Funds
£k
20
2
-
22
-
71
71
(49)
1
(1)
(49)
160
(49)
111		 Restricted
Funds
£k
-
-
-
-
-
-
-
-
-
-
-
1
-
1		 2019-20
Total
Funds
£k
20
2
-
22
-
71
71
(49)
1
(1)
(49)
161
(49)
112

The notes at pages 20 to 28 form part of this account.

All activities were derived from continuing operations. All recognised gains and losses have been included in the above statement.

NHSBT Trust Fund Accounts and Letter to the Auditors Page 19 of35 Balance Sheet as at 31 March 2021 Unrestn'cte Restricted Totsl at 31 Mar41 Total al 31 Funds Funds Mar-20 £k £k Flx•d A88ets Investrnents Total Flxed Assets Curr•nt Assets Debtors Cash on deposit Cash at bank and in hand 18 92 223 92 223 333 147 97 244 Creditors.. amounts falling due wlhin one year Not Curr•nt Assets {142) 191 139 105 191 Creditors: Amounts lalh'ng due after one year {57) {$7) (2) Totsl N•t As••t4 134 134 112 Funds of the Charity Income Fund•: Unrestricted Restricted Total Funds 134 134 111 134 134 112 The notes at pages 20 to 28 fonn part of thls account. These flnanclal statements of Charlty NHS Blood and Transplant TNst Fund registered number 1061771 were approved by the Tjust Fund C(xnmittee and authorised for issue on 16th November 2021. ne or nd on behalf of the Corp(nte Trustee R Patullo air of the NHSBT Board Mr Rob Bradburn Finance Director NHSBT Date: 1810112022 Date:

NHSBT Trust Fund Accounts and Letter to the Auditors Notes to the accounts

Page 20 of 35

1. Accounting Policies

NHS Blood and Transplant Trust Funds meets the definition of a public benefit entity under FRS 102.

(a) Basis of preparation

The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (SORP).

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The principal accounting policies adopted in the preparation of the financial statements are as below. The Trustee does not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed.

(b) Preparation of the accounts on a going concern basis

The Corporate Trustee of the charity has agreed that the trust funds will not actively fundraise, therefore the funds will diminish as grants are made unless donations are received. The Trustee has reviewed the financial forecast and is content that the funds will be available for at least the next 12 to 18 months and consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

(c) Fund accounting

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.

Unrestricted income funds comprise those funds which the Trustee is free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the donor has made known their non-binding wishes or where the Trustee, at their discretion, has created a fund for a specific purpose.

As at 31 March 2021, the Trust Fund holds £15.7k in such designated funds: £14.1k for Organ Donation and Transplantation and £4.6k for the Therapeutic Apheresis Services. The Committee is strongly encouraging the fund-holders to find appropriate uses for these funds.

(d)

Income

All income is recognised once the charity has entitlement to the resources, it is probable that the resources will be received, and the monetary value of the income can be measured with sufficient reliability.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed where material.

For grants, entitlement is taken as the earlier of the date on which either: the charity is aware that a grant has been awarded, or the distribution of the grant has been received. The charity may recognise the grant as income to the extent that any performance-related conditions have been met; otherwise, the distribution must be recognised as a deferred income creditor until the related conditions have been satisfied.

(e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be

NHSBT Trust Fund Accounts and Letter to the Auditors Page 21 of 35 measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

(f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. For grant expenditure this is when the grant letter has been issued to the recipient. Expenditure classified under ‘expenditure on charitable activities’ includes the costs of grants paid, long service awards, winter celebrations for NHSBT employees, and associated support costs. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

(g) Debtors

Debtors are amounts owed to the charity. They are measured on the basis of their recoverable amount. Prepayments are valued at the amount prepaid.

(h) Cash and cash equivalents

Cash and cash equivalents includes cash and cash on deposit. Cash in bank includes cash in the Lloyds current account. Cash on deposit includes cash in the charity savings account.

(i) Creditors and provisions

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.

(j) Financial instruments

The Trust holds no shares except some which are uneconomic to realise. The fair value of these shares as at the accounting date is nil.

Investment 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 the funds’ quarterly opening valuation.

NHSBT Trust Fund Accounts and Letter to the Auditors 2. Income from donations, legacies and grants

Page 22 of 35

Donations
Legacies
Donations
Grants
Rounding Correction		 2021
Total
£k
11
12
76
1
100		 2020
Total
£k
-
20
-
-
20

Grant income of £76.4k has been recognised in accordance with accounting policy 1(d). Six distributions were received throughout the year totalling £240.1k. NHS Charities Together may determine what is an acceptable use of these funds, and they may also recall any monies that remain unspent or spent outside the terms and conditions of the grant. For this reason, the Charity cannot be considered to have entitlement to the funds until it can demonstrate that they have been spent in line with NHSCT requirements.

3. Analysis of Investment Income

Total Investment Income

f Investment Income
tment Income
Historic Entitlements and Other
Bank Interest		 2021
Total
£k
-
-
-		 2020
Total
£k
2
-
2

The charity has now divested of all its investments so no further investment income is anticipated.

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 23 of 35

4. Analysis of expenditure on charitable activities

Expenditure on charitable activities is shown in the table below. Total net expenditure was £78k (2019/20 £71k), of which £76k was unrestricted (2019/20 £71k) and £2k was restricted (2019/20 £nil).

Support costs totalling £3.5k were incurred in 2020/21 (2019/20 £nil). This comprises £1.8K for independent examiners’ fees, £1.5k for NHS Charities Together annual membership, and £0.2k in share transaction costs.

As in previous years, support costs have been allocated to non-commercial research activity. No recharge is made for administration costs supplied by NHSBT and the charity is not able to put a value on these donated services.

Support for non-
commercial research
Earmarked Funds and
Projects
NHS CT Grant Expenditure
Staff Long Service Award
Recognition Events
Winter Celebrations		 Activities
undertaken
directly
£k
2
76
-
-
-
78		 Grant
funding
activities
£k
(4)
**(4) **		 Support
costs
£k
4
5		 2021
Total
£k
-
1
76
-
1
-
78		 2020
Total
£k
(3)
1
26
2
45
71

Analysis of research grant expenditure

4.1 Analysis by activity
Grants returned -
Red blood cell transfusion thresholds and QOL in MDS: a pilot
feasibility study
A placebo-controlled single-blind, randomised feasibility trial of
Desmorpressin (DDAVP) in critical illness prior to procedures
Trust, Altruism, Social Inclusion and BAME Blood Donor
Recruitment
Grants committed -		 2021
Total
£k
-
-
(4)
-
(4)		 2020
Total
£k
(1)
(2)
-
-
(3)

NHSBT Trust Fund Accounts and Letter to the Auditors Page 24 of 35 The charity does not make grants to individuals. All grants are made to NHSBT or other third party organisations.

4.2 Analysis by recipient
NHS Blood and Transplant
University of Nottingham
Total		 2021
Total
£k
-
(4)
**(4) **		 2020
Total
£k
(3)
-
(3)

Analysis of NHS Charities Together grant expenditure

All grant funding received had the primary requirement that it should be spent on staff welfare in relation to the COVID-19 pandemic and its aftermath. Three of the six grant distributions had more specific conditions attached.

All spend was approved by both the Committee and by the Executive Board of the Corporate Trustee.

4.3 Analysis of NHS Charities Together grant spend

Purchase of computer technology for mobile teams
Wellbeing improvements to main NHSBT centres
Counselling workshops
Travelling "wellbeing kiosks"
Exercise classes
Refreshments at NHSBT award ceremony
Rounding Correction
Total		 Funded
activities
2021
Total
£k
13
24
17
16
5
2
(1)
76

Page 25 of 35

NHSBT Trust Fund Accounts and Letter to the Auditors 5. Analysis of Fixed Asset Investments

5.1 Analysis of Fixed Asset Investments

Market value at 1 April
Disposals (at carrying value)
Additions
Net realised gains/ (losses) on revaluation
Investment Fees & Charges
Rounding Correction
Market value at 31 March 2021
Historic cost at 31 March 2021		 2021
Total
£k
9
(9)
-
(1)
-
1
-
-		 2020
Total
£k
8
-
-
1
-
-
9
7

The charity also owns 100 Santander CDIs, which had a market value of £251 at 31 March 2021 (2020 £196). As the costs of disposal would exceed this amount, a nil value has been attributed to them and they have not been individually recognised in the financial statements.

6. Analysis of Debtors

Amounts falling due within one year:
Accrued Income
Prepaid Expenditure
and Cash Equivalents
Cash on deposit
Cash at bank and in hand		 2021
Total
£k
-
18
18
2021
Total
£k
92
223
315		 2020
Total
£k
-
-
-
2020
Total
£k
147
97
244

7. Cash and Cash Equivalents

NHSBT Trust Fund Accounts and Letter to the Auditors 8. Analysis of Creditors

Page 26 of 35

8.1 Creditors under one year
Amounts due to NHSBT
Amounts due to other creditors
Deferred income
Total creditors falling due within one year
8.2 Creditors over one year
Amounts due to NHSBT
Amounts due to other creditors
Deferred income
Total creditors falling due after more than one year		 Total
2021
£k
33
2
107
142

Total
2021
£k
-
-
57
57		 Total
2020
£k
111
28
-
139

Total
2020
£k
2
-
-
2

All creditors total £200k (2020 £140.7k). This comprises deferred income of £163.6k, creditor accruals of £8.8k and research grant commitments of £26.3k.

These research grant commitments relate to a single project: “A feasibility trial comparing restrictive versus liberal red cell transfusion strategies in stable children” lead by Dr Helen New.

£4.1k was returned to the Charity in 2020/21 in respect of the research project “Trust, Altruism, Social Inclusion and BAME Blood Donor Recruitment”.

9. Analysis of funds

9.1 Endowment Funds

The Charity does not hold any endowment funds.

9.2 Restricted
Funds
British Bone
Marrow Donor
Appeal
Total		 Balance as
at 01 April
2020
£k
1
1		 Income
£k
-
-		 Expenditure
£k
-
-		 Gains and
Losses
£k
-
-		 Transfers
£k
(1)
(1)		 Balance as
at 31 March
2021
£k
-
-

NHSBT Trust Fund Accounts and Letter to the Auditors Page 27 of 35 At 31 March 2021 the Charity no longer holds any restricted funds, as referenced in Section 6 of this report.

9.3 Unrestricted
Funds
Total		 Balance as
at 01 April
2020
£k
111		 Income
£k
100		 Expenditure
£k
(77)		 Gains and
Losses
£k
(1)		 Transfers
£k
1		 Balance as
at 31 March
2021
£k
134

The General Fund is an unrestricted fund which may be used by the Trustee for charitable purposes relating to the NHS wholly or mainly for the services provided by NHS Blood and Transplant.

The unrestricted fund includes £22.9k of earmarked funds set aside in the year for use by the Organ Donation, Tissues and Therapeutic Apheresis Services teams. It also includes £20.6k cash and commitments that were formerly held by the restricted fund The Howard Ostin Bequest.

NHSBT Trust Fund Accounts and Letter to the Auditors 11. Related Party Transactions

Page 28 of 35

The management of charitable trust funds is delegated to the Trust Fund Committee which is a sub-committee to the Board of the Corporate Trustee, NHS Blood and Transplant.

The charitable trust has made payments to NHS Blood and Transplant in furtherance of its charitable goals. The members of the Trust Fund Committee (whose names are listed below) also served as members of NHS Blood and Transplant Board during the year.

There were £0 donations received from the NHSBT Board and Committee members.

Mr Charles St John Mr Rob Bradburn Dr Gail Miflin Ms Katherine Robinson Ms Patricia Grealish

Dr Gail Miflin is the Chief Medical Officer and Director of Clinical Services of NHSBT, and research projects which have been funded by the Trust Fund Committee are also within Dr Miflin’s area of responsibility.

The Committee members are paid members of the NHSBT Board but receive no additional remuneration or reimbursement of expenses for the work that they undertake on behalf of the Corporate Trustee.

Details of all the charitable trust account related party transactions are below. This includes payments which are considered to have been made under NHSBT’s control, even if the actual recipient is a third party.

In the case of research projects, all payments are deemed to be under NHSBT’s control where the lead researcher is an NHSBT employee.

No payments were made to NHS Blood and Transplant in 2020/21 relating to staff winter celebrations (2019/20 £44,805) or long service awards (2019/20 £25,944) as it has been decided that the Trust Fund will no longer fund these areas.

NHSBT Trust Fund Accounts and Letter to the Auditors Glossary

Page 29 of 35

Glossary
T Trust Fund Accounts and		 Letter to the Auditors
Page 29 of 3
Term Definition
British Bone Marrow
Registry (BBMR)		 The British Bone Marrow Registry (BBMR) is part of NHSBT that helps people
find stem cell matches. We work in co-operation with the UK’s other bone
marrow and blood donor registries, the charity Anthony Nolan and the NHS
Cord Blood Bank. We are also part of an international network that helps find
matches for people across the world.
BAME an acronym for Black, Asian, and minority ethnic
Desmorpressin
(DDAVP)		 Desmopressin, sold under the trade name DDAVP among others, is a
medication used to treat diabetes insipidus, bedwetting, haemophilia A,
von Willebrand disease, and high blood urea levels
Mesenchymal
stromal cells		 Mesenchymal stem cells (MSCs) also known as mesenchymal stromal
cells or medicinal signaling cells are multipotent stromal cells that can
differentiate into a variety of cell types, including osteoblasts (bone
cells), chondrocytes (cartilage cells), myocytes (muscle cells) and
adipocytes (fat cells which give rise to marrow adipose tissue).
Ischemia-reperfusion
injury		 Reperfusion injury, sometimes called ischemia-reperfusion injury (IRI)
or reoxygenation injury, is the tissue damage caused when blood
supply returns to tissue (re- + perfusion) after a period of ischemia or
lack of oxygen (anoxia or hypoxia). The absence of oxygen and
nutrients from blood during the ischemic period creates a condition in
which the restoration of circulation results in inflammation and oxidative
damage through the induction of oxidative stress rather than (or along
with) restoration of normal function.
Randomised
controlled trial		 A randomized controlled trial is an experimental form of impact
evaluation in which the population receiving the programme or policy
intervention is chosen at random from the eligible population, and a
control group is also chosen at random from the same eligible
population.
Therapeutic Plasma
Exchange (TPE)		 Therapeutic Plasma Exchange (TPE) is a procedure in which the
patient's blood is passed through an apheresis machine, where the
filtered plasma is removed and discarded with reinfusion of red blood
cells along with replacement fluid such as plasma or albumin in to the
patient.

NHSBT Trust Fund Accounts and Letter to the Auditors 9. Independent examiner’s report

Page 30 of 35

Independent examiner’s report to the Trustees of NHS Blood and Transplant Trust Fund

I report to the trustees on my examination of the accounts of NHS Blood and Transplant Trust Fund (the Trust) for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity trustee of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).

I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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:

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.

Victoria Jane Harrison

FCCA For and on behalf of GBAC Limited Old Linen Court 83-85 Shambles Street Barnsley South Yorkshire S70 2SB

Dated: 20 January 2022

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 31 of 35

2. Complete 20211206-Letter - GBAC Ltd - Final Released

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 33 of 35

GBAC Limited Old Linen Court 83-85 Shambles Street Barnsley South Yorkshire S70 2SB

Head Office 500 North Bristol Park Northway Filton Bristol BS34 7QH Tel: 0117 921 7200 Fax: 0117 921 7201

6 December 2021

Dear Sirs

During the course of your independent examination of our financial statements for the period ending 31 March 2021, the following representations were made to you by management and representatives of the corporate trustee.

  1. We have fulfilled our responsibilities as representatives of the corporate trustee for preparing financial statements, in accordance with UK GAAP, Charities Act 2011 and FRS102 Charity SORP that give a true and fair view and for making accurate representations to you as independent examiner.

We confirm that in our opinion the financial statements give a true and fair view and in particular that where any additional information must be disclosed in order to give a true and fair view that information has in fact been disclosed. We confirm that the selection and application of the accounting policies used in the preparation of the financial statements are appropriate, and we approve these accounts for the year ended 31 March 2021.

  1. We confirm that all accounting records have been made available to you for the purpose of your independent examination, in accordance with your terms of engagement, and that all transactions undertaken by the company have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management and Trustee’ meetings, have been made available to you. We have given you unrestricted access to persons within the company in order to obtain evidence and have provided any additional information that you have requested for the purposes of your independent examination.

  2. We acknowledge that it is a criminal offence to make a false statement in this regard, and where any representative of the corporate trustee either makes a false statement; is aware that the statement is false; is reckless in preventing this statement; or fails to take reasonable steps to prevent the directors’ report from being approved, we acknowledge that each representative of the corporate trustee will be guilty of a criminal offence.

NHSBT Trust Fund Accounts and Letter to the Auditors

Page 34 of 35

  1. We confirm the charity has satisfactory title to all assets and there are no liens or encumbrances on the assets, except for those disclosed in the financial statements.

  2. We confirm that the methods, significant assumptions and data used by us in making accounting estimates, and the related disclosures, are appropriate to achieve recognition, measurement or disclosure that is in accordance with the applicable financial reporting framework.

  3. We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.

  4. We confirm that the charity has no liabilities or contingent liabilities other than those disclosed in the financial statements.

  5. We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to the independent examiner and accounted for and disclosed in accordance with UK GAAP.

  6. We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.

  7. We confirm that there are no related parties or related party transactions except for those in note 11 of the accounts.

  8. We confirm that the charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance.

  9. We confirm that the charity has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit transactions) for the corporate trustee, nor to guarantee nor provide security for such matters.

  10. We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.

  11. We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which are central to the charity’s ability to conduct its business.

  12. We acknowledge our responsibility for the design and implementation of controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our risk assessment of the risk of fraud in the business.

  13. We confirm that there have been no actual or suspected instances of fraud involving management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by former employees, regulators or others.

  14. There are no unadjusted misstatements.

  15. We acknowledge our legal responsibilities regarding disclose of information to you as independent examiner and confirm that:

NHSBT Trust Fund Accounts and Letter to the Auditors Page 35 of 35 far as eath representive of the cwate trustee is aware. there is no relevant information of which you as indepermlent examiner are unaware. and each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant infomiation and to estsblish that Y<￿ are aware of that informati¢)n. 20. We confim) that we consider the charity to be a going concem for a period of at least 12 months from the date of signing of the 8¢cixmts. We confim thèt. in opinion, the charty's financial statements should be prepared w the going concern basi5 on the grounds that current and future sources of fundin8 or sUpp(￿t wll be more than adequate for the charity's needs. In reachin8 this condusion. we have tsken Into account all relevant matters of which we are aware and have considered a period of at least one year from the date on vthich the financial statements were will be appro¥%d. 21. We tonfirm that all grants. donations and other income. including those subject to speclal terms or conditions or received for restrirted purposes. have been notified to you. There hove been no breaches of terms or conditions during the period re8ardin8 the application of such Income. We draw to your attentlon that we have deferred NHS tceether grant Income of £163.7k lout of £24( grants received) and that if this money is not spent for the purposes intended by the deadlines that this money may need to be returned. 22. We confirm there were no spedflc representatlons mode to you durlng the course of your independent examination. 23. We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and expertise land, where appropriate of supportin8 documentatlonl sufficient to satisfy ourselves that we can properly make these representations to you and that to the best of our knowledge and bellef they accurately reflect the representations made to you by the tTUStees durin8 the course of your dependent examination. Yours faithlulty Signed on behalf of the board of Trust Fund Committee by: rim Chair NHS Blood and Transplant (Representstive of the Corporate Trusteel