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2022-03-31-accounts

ANNUAL REPORTS AND ACCOUNTS for the financial year ended 31 March 2022

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Contents Trust Fund Annual Report and Accounts 31 March 2022 Contents Trust Fund Annual Report and Accounts 31 March 2022 Contents Trust Fund Annual Report and Accounts 31 March 2022
Section Description Page
1 Foreword 2
2 Objectives and Activities 3
3 Reference and Administrative details 4
4 Corporate Trustee 5
5 Trust Fund Committee 6 - 7
6 Structure Governance and Management 7 - 8
7 Achievements and Performance 9 - 10
8 Financial Review 10 - 13
9 Independent Examination 14
Statement of Financial Activities Year ended 31 March 2022 15
Statement of Financial Position as at 31 March 2022 16
Notes to the Accounts 17 - 23
Glossary 24

1. Foreword

Welcome to our Annual Report and Accounts for financial year 2021/22. The Corporate Trustee NHS Blood and Transplant (NHSBT), presents the NHSBT Trust Fund’s Annual Report together with the Financial Statements for the year ended 31 March 2022.

NHSBT is immensely grateful for the generous donations received throughout the year. Donations which are underpinned by the desire to help NHSBT improve and save lives and look after its dedicated and amazing workforce.

For consistency, a review of the fund accounting treatment has been carried out against guidance provided by the charities “Statement of Recommended Practice” (SORP) and the Financial Reporting Standard (FRS) 102. As a result of this, the Trustee is applying professional judgement and determined to present the 2021/22 Accounts in a slightly different way to the previous financial year. The only difference to note is the treatment of the NHS Charities Together (NHS CT) grants as “restricted funds” which in the previous year was presented as part of the general unrestricted fund. The NHSBT Trust Fund Committee (‘the Committee’) has applied the criteria that funds held on specific trust under charity law are classed as restricted funds. NHS CT determines 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, NHSBT Trust Fund (‘the Trust Fund’) cannot be considered to have entitlement to the funds until it can demonstrate that they have a purpose in line with NHS CT requirements.

The Trust Fund has supported a variety of staff’s health related activities and in particular through the utilisation of the NHS CT grants. The General Fund has been utilised to help with research with the aim of benefitting the public at large.

The main activities undertaken in relation to meeting the purpose of the Trust Fund during 2021/22 were:

Table 1 – Summary of expenditure 2021/22

Summary of expenditure 2021/22 Restricted Unrestricted
£ £
Total research projects expenditure - 57,092
Total wellbeing and amenities expenditure 39,444 820
Total administration and support expenditure 3,000 1,588
Total provisions 14,734 4,255
Total Expenditure for the year 57,178 63,755

For detailed expenditure please refer to table 5 on page 9.

As the Chair of the NHSBT Trust Fund Committee, I would like to extend my gratitude to everyone who has contributed so generously with time, energy, and money to support the Trust Fund. 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 and informs the reader as to how the funds have been used during the year. It should be read in conjunction with the annual accounts and notes to the accounts on pages 17 to 23.

Charles St John Chairman of the NHSBT Trust Fund Committee and Non-Executive Director of NHSBT.

2. Objectives and Activities

The overarching objective of the Trust Fund is “to apply income for any charitable purpose relating to the NHS”

The Committee takes account of the Charities Commission’s guidance on public benefit in setting or reviewing the guidelines for fund advisers who are authorised to spend charitable funds.

The aim of the Trust Fund is to save and improve patients’ lives. Thus, the Trust Fund will support non-commercial 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 Trust Fund and agreeing a budget for the year the Trustee has given careful consideration to the Charity Commission’s guidance on public benefit. The Trust Fund 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.

The General Fund receives donations that can be used for any charitable purpose relating to the NHS, including furthering the general aims of NHSBT and supporting staff welfare. In accordance with Section 222 National Health Service Act 2006, these funds must remain separately designated.

The General Fund (£81k) 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. In financial year 2021/22 the Fund received donations from the general public amounting to £10k.

There was no new NHS CT grant income during financial year 2021/22. However, from the gross income of £240k received in 2020/21, £164k was deferred into 2021/22 and £57k was expensed in the current year with the remaining £107k included within deferred income (see note 6). The expenditure of £57k includes £18.5k of accrued expenditure and £14.7k is a provision for potential VAT costs.

The main financial highlights are as follows:

Table 2 – Statement of Funds

Statement of Funds Restricted Unrestricted
£’000 £’000
Funds brought forward 0 134
Total Income 57 10
Total Expenditure (57) (63)
Total Funds carried forward 0 81

3. Reference and Administrative details

The NHSBT Trust Fund is a registered charity with the Charity Commission for England and Wales in accordance with the Charities Act 2011. The registered Charity Number is 1061771 from 10 April 1997. The charitable Trust name is NHS BLOOD AND TRANSPLANT TRUST FUND.

Office and registered address

NHS Blood and Transplant Barnsley Blood Centre (Unit D) Capital Way Dodworth Barnsley S75 3FG

Bankers

Lloyds Bank Edgware Station Road Edgware Middlesex HA8 7JL

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Independent Examiner

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

4. Corporate Trustee

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 NHSBT under a Deed of Variation executed under seal by the Charity Commission. There were no charitable funds held by UK Transplant.

The Trust Fund is a public benefit entity. 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 NHSBT.

The Committee members are recruited and appointed by the NHSBT Board of Directors. Appointed members are required to be members of the Board of Directors of NHSBT.

Members of the Board and the Committee are not individual trustees under Charity Law but act as agents on behalf of the Corporate Trustee.

NHSBT is the Corporate Trustee of the Trust Fund governed by law applicable to Trusts, principally the Trustee Act 2000 and the Charities Act 2011. The members of NHSBT Board of Directors who served during the period 1 April 2021 to 31 March 2022 and changes up to the date of signing were as follows:

Chair Ms Millie Banerjee – left on 6 August 2021
Mr John Pattullo Interim Chair - from 7 August 2021 to 31 March
2022
Mr Peter Wyman - from 1 April 2022.
Non-executive Directors Ms Helen Fridell - left on 18 February 2022
Mr Phil Huggon
Professor Deirdre Kelly
Ms Joanna Lewis
Mr Charles St John
Professor Paresh Vyas – left on 31 March 2022
Mr Piers White
Executive Directors Ms Betsy Bassis – Chief Executive and Accounting Officer to 9
August 2022
Ms Wendy Clark – Interim Chief Executive from 9 August 2022
(previously Chief Digital and Information Officer since January
2019)
Mr Rob Bradburn – Director of Finance to 31 October 2022
Mr Carl Vincent – Chief Financial Officer from 1 October 2022
Mr Anthony Clarkson – Director of Organ Donation and
Transplantation
Mr Greg Methven – Director of Manufacturing and Logistics to 31
October 2021
Dr Gail Miflin – Chief Medical Officer and Director of Clinical
Services
Mr Stephen Cornes – Director of Blood Donation from 31 July 2021
to 31 July 2022
Mr Paul O’Brien – Interim Director of Blood Donation from 25 July
2022

5. Trust Fund Committee

The NHSBT Board, the Corporate Trustee, delegates responsibility for the on-going management of the Trust fund to the Trust Fund Committee. The members of the Committee during the year 2021/22 were as follows:

Mr Charles St John Chair and Non-Executive Director Mr Rob Bradburn Executive Director of Finance - left 31 October 2022 Non-Executive Director Ms Patricia Grealish Interim Director of People - left 1 September 2021 Deb Makenzie Chief People Officer - from 1 September 2021 Mr Carl Vincent Chief Financial Officer – from 1 October 2022 Ms Linda Haigh Assistant Director Finance Operations NHS Blood and Transplant, and Secretary to the Committee – left 31 August 2022

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

The Committee shall make recommendations to the Board as to the powers it may delegate to be exercised by the Committee Chair and by and through the Chief Executive and keep the Board of the Corporate Trustee fully informed on the activity, performance and risks of the charity.

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 Trust Fund does not meet the criteria for a “large charity” as its income is less than £0.5 million. The annual accounts follow the reporting requirements that apply to smaller charities.

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 the Trust Fund is 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.

6. Structure, Governance and Management

The NHSBT Board of Directors devolved responsibility for the ongoing management of the Trust Fund to the Committee, which administers the fund on behalf of NHSBT. 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 Trustee ensures that the wishes of donors are respected.

The Committee consists of two Executive Directors and two Non-Executive Directors of NHSBT. Under the scheme of delegated authority approved by the Corporate Trustee, the Committee has overall responsibility for managing the funds held on trust in accordance with the Terms of Reference agreed by the Authority.

The Committee shall meet as frequently as it may determine to be necessary to complete its key tasks, minimum of three meetings a year and not exceeding six. A quorum at a meeting shall consist of two members, one Executive and one Non-Executive member.

The Committee agrees an annual work plan and has held four meetings during the financial year 2021/22.

The Committee was chaired by Charles St John. Attendance at meetings is shown below:

Table 3 – Meeting’s attendance

Meeting Dates May 2021 July 2021 November 2021 February 2022
Charles St John 1 1 1 1
Rob Bradburn 1 1 1 1
Joanna Lewis * 1 1 1
Patricia Grealish
(left in September
2021)		 1 1 * *
Deb McKenzie
(since October
2021)		 * * 1 1

All members of the Committee are provided with a copy of the Committee’s 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.

At the end of the reporting period (March 2022) the Trust Fund holds both restricted (NHS CT grants) and unrestricted general funds.

The Committee has total control over the “unrestricted” general fund. The unrestricted funds are made up from donations from the public and if they don’t have attached conditions imposed by the donor, these donations are considered unrestricted and readily available for the general purposes of the charity. The total value of charitable funds held on trust at 31 March 2022 was £81k (£134k at 31 March 2021).

The governance arrangements with the “restricted funds” are different and the Trustee is required to fulfil the criteria attached to the terms and conditions of the NHS CT grants. The Trust Fund bids for NHS CT grant funding and if successful, the funding can only be used for the very specific purpose applied for. Should the Committee assess that some of the existing restricted funds could be repurposed, the Committee is required to seek approval from NHS CT to repurpose those grants.

The balance of NHS CT grants in the Statement of Financial Position as at 31 March 2022 is represented by deferred income totalling £106.5k (£163.7k at 31 March 2021) which is part of the creditors figure of £140k (see note 6). There are several on-going projects aiming for completion by March 2023, these are:

Table 4 – NHS CT grant projects

Table 4– NHS CT grant projects
NHS CT grants projects £

iPad for mobile teams		 £15,434
Wellbeing kiosks £9,775
BAME art project £192
The walking challenge (subject to approval) £24,990
Counselling workshops £36,567
VAT provision £14,734
NHSBT Choir 4,800
Total balance £106,492

The Committee also reviewed the VAT treatment of purchases where NHSBT is the beneficiary in which VAT charges have not been passed onto the Trust Fund and considered it prudent to create a provision for £19k due to potential VAT charges for transactions up to and including 31 March 2022 (£15k from restricted funds + £4k from unrestricted funds).

The 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 Committee. All spending during the year is authorised by the Committee under delegated authority from the Board of Directors. 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.

7. Achievements and Performance

Review of Activities undertaken for the Public Benefit and furtherance of the Trust Fund’s objectives:

There was one research project funded from unrestricted funds during 2021/22, which was:

Uncontrolled donation after circulatory death – an ethical analysis and prospective qualitative study of potential donor families (awarded with £46,966).

This work leading to improvements in uncontrolled donation after circulatory death could lead to a large number of extra donations which would be of great benefit. This study has the capacity to increase organ donation by a significant amount. Spain (along with other countries) successfully retrieves organs from such donors with very good outcomes for the recipients (at least 20% of donors). We do not have such a programme anywhere in the UK. Key to the success is the discussion with the donor’s family - at the heart of this submission. This project was approved by the Committee in July 2021 and awarded £46,966 from the General Fund. The project reports accrued expenditure of £43,966 at the end of March 2022.

A further research project which was live during 2021/22 and which had previously been awarded funding from unrestricted funds was:

A feasibility randomised controlled trial comparing restrictive versus liberal red cell transfusion strategies in stable children undergoing stem cell transplant to understand clinical outcomes to support further trials (available funds £23,304) . The researchers on this study monitored transplant patients for 100 days post-transplant. The study was extended due to the impacts of the pandemic and is now expected to complete within the next 12 months.

No other new research grant awards were made during 2021/22 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. New proposals for research grants are expected in 2022/23.

The main activities in furtherance of the charitable purposes are:

Table 5 – Detailed expenditure 2021/22

Detailed expenditure 2021/22 Restricted Unrestricted

Research projects:		 £ £
ODT-Child Bereavement UK training courses. - 7,641
ODT–Marketing (modest“thank you”gifts) - 760
TAS-TTP Charity donation - 1,725
Study of potential donor families regarding uncontrolled
donation after circulatory death (TF093)		 - 43,966
Transfusion strategies in stable children (TF070) - 3,000
Total research projects expenditure - 57,092
Staff wellbeing and amenities:
Wellbeing Kiosks 16,112 -
TAS–Specialist Nurses team away day - 820
NHSBT Choir 4,800 -
Other wellbeing initiatives 18,532 -
Total wellbeing and amenities expenditure 39,444 820
Administration and support:
NHS CT membership fees 3,000
Audit fees and bank charges 1,588
Provisions 14,734 4,255
Total administration and support expenditure 17,734 5,843
Total Expenditure for the year 57,178 63,755

The Trust Fund spent NHS CT grants totalling £39k on NHSBT colleague wellbeing in the year. The 2021/22 portion of the “wellbeing kiosk” spend was recognised in full, and £4.8k was spent on bringing in a professional musician to deliver an online workplace choir for 6 months. A series of health and wellbeing / counselling workshops were recognised in March 2022 totalling £18.5k on an accruals basis with the workshops expected to take place over the course of financial year 2022/23.

Investment Performance

There are no investments held during the financial year 2021/22.

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

The NHSBT Trust Fund Committee 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.

8. Financial Review

Income

Expenditure

In summary, the total grant expenditure this year amounts to £120k (2020/21 £79k). See note 3 for details.

Investments

There were no investments as at 31 March 2022 (2020/21 £Nil).

Net current assets

The accounts show £207k (2020/21 £223k) held as cash at bank plus £92k (2020/21 £92k) cash held on deposit in an interest-bearing account. Short term creditors of £215k (2020/21 £142k) relate mainly to deferred grant income (£107k) and accrued research expenditure (£70k). (See Statement of Financial Position on page 16).

Debtors were £Nil in 2021/22 (2020/21 £18k), there were no prepayments to report either.

Income funds

The unrestricted general-purpose fund was valued at £81k (2020/21 £134k) and can be spent at the discretion of the Trustee.

The restricted NHS CT grants fund included in the deferred income amounts to £107k (2020/21 £164k deferred income) and can be spent in line with the terms and conditions of the award.

Movement in funds

The unrestricted net assets of the fund as at 31 March 2022 were £81k (31 March 2021 £134k).

Overall net assets decreased by £53k as the result of expenditure being in excess of income.

Movements in the year of the funds of the Trust Fund are summarised below:

Table 5 – Funds movements

Fund Name Fund
Balance
B/F £k		 Incoming
Resources
£k		 Outgoing
Resources
£k		 Fund
Balance
C/F £k
Unrestricted
(General
Fund)		 134 10 (63) 81
Restricted
(NHS CT
grants)		 - 57 (57) 0

The Trust Fund 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

The Committee reviews the performance of the fund on a quarterly, year to date and annual basis. The Committee is informed of the balance of cash reserves held throughout the year, the amount of income and expenditure for the quarter and future spending plans. Any potential risks arising from the report are highlighted in the meeting and discussed.

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 reserves policy was last reviewed by the Committee in July 2021. Below is the revised policy.

The Trustees’ 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 Trust Fund’s reserves becoming overdrawn it is considered prudent to hold a balance in the general unrestricted funds to cover £10k for 5 years for independent examiners fees and £3k legal costs. A further contingency of £20k will be retained. A minimum of £33k reserves will therefore be maintained until March 2023.

The available to spend balance (after reserves) and the reserves level is reviewed at each quarterly committee meeting prior to any new commitments being made.

The Trustees have confirmed that staff welfare payments will not be paid from the Trust Fund, except for activity funded by NHS Charities Together grants for that purpose. Since the previous reserves review the BBMDA and HO funds have been merged with the General Fund. The reserves policy is reviewed at least annually.

In reviewing the reserves policy, the Committee considers the following factors:

Future Commitments, Activities and Plans

The 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 CT grants which were given with the purpose of funding initiatives to support staff (and patient) welfare.

SIGNED FOR AND ON BEHALF OF THE CORPORATE TRUSTEE

……………………………………………………………………………………………………………………………………………

Mr Peter Wyman

Chair of the NHSBT Board

Date: 12th January 2023

Annual Accounts

The Regulations, the Charity Statement of Recommended Practice (SORP 2015) and the Accounting and Reporting Standards have specified three components to the final accounts:

9. Independent Examination

An independent examination for the Trust Fund accounts in 2021/2022 has been completed by GBAC. The examiner is required to report on whether the financial statements are prepared in accordance with the accounting records and the Charities Act 2011. 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 2022.

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: 17th January 2023

Charitable Funds Trust Account – NHS Blood and Transplant – 2021 - 2022

Statement of Financial Activities Year ended 31 March 2022

Note
INCOME FROM:
Donations and legacies
2
Grants
2
TOTAL INCOME
EXPENDITURE ON:
Grant Expenditure
3
Other Charitable activities
3
TOTAL EXPENDITURE
Net income/(expenditure)
before investment
gains/(losses)
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
10
-
10
(62)
(1)
(63)
(53)
(53)
134
(53)
81		 Restricted
Funds
£k
-
57
57
(54)
(3)
(57)
-
-
-
-
-		 2021/22
Total
Funds
£k
10
57
67
(116)
(4)
(120)
(53)
(53)
134
(53)
81		 Unrestricted
Funds
£k
24
-
24
-
(1)
(1)
23
23
111
23
134		 Restricted
Funds
£k
-
76
76
(76)
(1)
(77)
(1)
(1)
1
(1)
-		 2020/21
Total
Funds
£k
24
76
100
(76)
(2)
(78)
22
22
112
22
134

The notes at pages 17 to 23 form part of this account.

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

Statement of Financial Position as at 31 March 2022

Note
Current Assets
Debtors
4
Cash on deposit
5
Cash at bank and in hand5
Creditors: amounts falling
due within one year
6
Deferred grant income
6
Net Current Assets
Creditors: Amounts falling
due after one year
Deferred grant income
Total Net Assets
Funds of the Charity
Income Funds:
Unrestricted
Restricted
Total Funds		 Unrestrict
ed
Funds
£k
-
92
67
159
(75)
-
84
(3)

81
81
-
81		 Restricted
Funds
£k
-
-
140
140
(33)
(107)
-
-

-
-
-
-		 Total at 31
Mar-22
£k
-
92
207
299
(108)
(107)
84
(3)

81
81
-
81		 Total at 31
Mar-21
£k
18
92
223
333
(35)
(107)
191
-
(57)
134
134
-
134

The notes at pages 17 to 23 form part of this account.

These financial statements of Charity NHS Blood and Transplant Trust Fund registered number 1061771 were approved by the NHSBT Trust Fund Committee and authorised for issue on 14 November 2022.

Signed for and on behalf of the Corporate Trustee

Mr Peter Wyman Mr Carl Vincent Chair of the NHSBT Board Chief Financial Officer Date: 12th January 2023 Date: 16th January 2023

16

Notes to the accounts

1. Accounting Policies

The NHS Blood and Transplant Trust Fund 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) FRS 102.

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 2022, the Trust Fund holds £1,938 in such designated funds for Organ Donation and Transplantation. Tissues artwork expenditure £18,000 was agreed by the Committee in 2022, with a balance still to be paid at the end of the reporting period of £7,201.

(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 Trust Fund, or the Trust Fund 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 Trust Fund is aware that a grant has been awarded, or the distribution of the grant has been received. The Trust Fund 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 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. The Committee reviewed the VAT treatment of purchases where NHSBT is the beneficiary, and where VAT charges have not been passed onto the Trust Fund. Therefore, the Committee considered it prudent to create a provision for £19k due to potential VAT charges for transactions up to and including 31 March 2022.

(g) Debtors

Debtors are amounts owed to the Trust Fund. 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 include cash and cash on deposit. Cash at Bank includes cash in the Lloyds current account. Cash on Deposit includes cash in the CAF Bank savings account.

(i) Creditors and provisions

Creditors and provisions are recognised where the Trust Fund 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. A provision of £19k has been recognised in relation to VAT charges owed to NHS Blood and Transplant for invoices paid up to 31 March 2022 which have not been charged onto the Trust Fund.

(j) Financial instruments

The Trust holds no financial instruments as at the reporting date.

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.

2. Income from donations, legacies and grants

Donations
Legacies
Donations
Grants
Rounding Correction		 2022
Total
£k
0
10
57
-
67		 2021
Total
£k
11
12
76
1
100

No income was received from legacies (2020/21 £11.3k).

NHS CT grant income of £57k has been recognised in accordance with accounting policy 1(d). NHS Charities Together determines 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 Trust Fund cannot be considered to have entitlement to the funds until it can demonstrate that they have been spent in line with NHS CT requirements.

The Trust Fund has no investments to declare as at the end of March 2022. Bank interest received in 2021/22 totals £15 only.

3. Analysis of expenditure on charitable activities

Expenditure on charitable activities is shown in the table below. Total net expenditure was £120k (2020/21 £78k), of which £63k was unrestricted (2020/21 £1k) and £57k was restricted (2020/21 £77k).

Support costs totalling £4.5k were incurred in 2021/22 (2020/21 £4.8k). This comprises £1.8k for independent examiners’ fees, and £1.5k for NHS Charities Together annual membership which is a non-cash transaction received gross in FY 2020/21 which was released from deferred income brough forward.

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
Recognition Events		 Activities
undertaken
directly
£k
47
11
58		 Grant
funding
activities
£k
-
-
54
-
54		 Support
costs
£k
-
5
3
-
8		 2022
Total
£k
47
16
57
-
120		 2021
Total
£k
1
76
1
78

Analysis of research grant expenditure

3.1 Analysis by activity 2022 2021
Total Total
Grants returned - £k £k
Trust, Altruism, Social Inclusion and BAME Blood Donor
Recruitment - (4)
Grants committed -

Uncontrolled donation after circulatory death – an ethical analysis and prospective qualitative study of potential donor families 47 - A feasibility trial comparing restrictive versus liberal red cell transfusion strategies in stable children 23 70 (4)

The charity does not make grants to individuals. All grants are made to NHSBT or other thirdparty organisations.

3.2 Analysis by recipient
NHS Blood and Transplant
University of Nottingham (grant returned)
Total		 2022
Total
£k
70
70		 2021
Total
£k
-
(4)
(4)

Analysis of NHS Charities Together grant expenditure

All restricted 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.

3.3 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"
Other staff wellbeing activities
Refreshments at NHSBT award ceremony
Rounding Correction
Provisions
Total		 Funded
activities
Funded
activities
2022
2021
Total
Total
£k
£k
0
13
16
24
19
17
0
16
7
5
0
2
0
(1)
15
0
57
76

4. Analysis of Debtors

Amounts falling due within one year:
Accrued Income
Prepaid Expenditure*		 2022
Total
£k
-
-
-		 2021
Total
£k
-
18
18

*Prepaid expenditure 2021 is in relation to wellbeing kiosks £32k out of which £16k has been expensed in the period and £16k paid in advance at the end of March 2021. The remaining balance £2k was in relation to NHS Charities Together membership fees paid in advance. Under existing accounting rules, payments made in advance are considered a debtor in the accounts. No debtors or prepayments were recognised at the end of March 2022.

5. Cash and Cash Equivalents

Cash on deposit
Cash at bank and in hand		 2022
Total
£k
92
207
299		 2021
Total
£k
92
223
315

6. Analysis of Creditors

6.1 Creditors under one year
Amounts due to NHSBT
Amounts due to other creditors
Deferred grant income*
Total creditors falling due within one year		 Restric
ted
Unrestr
icted
Total
2022
2022
2022
£k
£k
£k
15
4
19
18
71
89
107
-
107
140
75
215		 Total
2021
£k
33
2
107
142
6.2 Creditors over one year
Amounts due to NHSBT
Amounts due to other creditors
Deferred grant income*
Total creditors falling due after more than
one year
Restric
ted
Unrestr
icted
Total
2022
2022
2021
£k
£k
£k
-
-
-
-
3
3
-
-
-
0
3
3
Total
2021
£k
-
-
57
57

*Grant income is deferred in line with accounting policy 1.d (see table 6.3)

All creditors total £218k (2020/21 £200k). This comprises deferred income of £107k, creditor accruals of £46k, research grant commitments of £47k and a provision for potential VAT charges of £19k.

The research grant commitments relate to a single project: “Uncontrolled donation after circulatory death – an ethical analysis and prospective qualitative study of potential donor families”

6.3 Reconciliation of Deferred Grant Income

Current Year
2021/22		 Prior Year
2020/21
£k £k
Balance brought forward 164 0
Grant income 0 240
Amount released to the Statement of Financial
Activities		 (57) (76)
Deferred Grant income carried forward 107 164

NHS CT grants are deferred in line with accounting policy 1.d

7. Analysis of funds

7.1 Endowment Funds

The Charity does not hold any endowment funds.

7.2 Restricted
Funds
NHS Charities
Together
Total		 Balance
as
at 1 April
2021
£k
-

-		 Income
£k
57
57		 Expenditure
£k
(57)
**(57) **		 Gains and
Losses
£k
-
-		 Transfers
£k
-
-		 Balance as
at 31 March
2022
£k
-
-

At 31 March 2022 the Charity has no restricted funds to report,

7.3 Unrestricted

Funds
Total		 Balance as
at 01 April
2021
£k
134		 Income
£k
10		 Expenditure
£k
(63)		 Gains and
Losses
£k
-		 Transfers
£k
-		 Balance as
at 31 March
2022
£k
81

The General Fund is an unrestricted fund which may be used by the Trustee for charitable purposes, wholly or mainly to support the goals of NHS Blood and Transplant in saving and improving lives.

The unrestricted fund includes £7.2k of earmarked funds set aside in the year to fund a Tissues Artwork. It also includes £33k of reserves and contingencies.

8. Related Party Transactions

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

The Trust Fund has made payments to refund NHS Blood and Transplant for purchases made 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.

Mr Charles St John Mr Rob Bradburn Ms Patricia Grealish Ms Joanna Lewis Ms Deb McKenzie

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

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 Trust Fund 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.

.

Glossary

Term Definition
BAME an acronym for Black, Asian, and minority ethnic
Randomised
controlled trial		 A study in which a number of similar people are randomly assigned to 2
(or more) groups to test a specific drug, treatment or other intervention.

Unit D Capitol Way Dodworth Barnsley S75 3FG

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

25 November 2022

Dear Sirs

During the course of your independent examination of our financial statements for the period ending 31 March 2022, 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 2022.

  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.

  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 it’s 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:

so far as each representative of the corporate trustee is aware, there is no relevant information of which you as independent 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 information and to establish that you are aware of that information.

  1. We confirm that we consider the charity to be a going concern for a period of at least 12 months from the date of signing of the accounts. We confirm that, in our opinion, the charity’s financial statements should be prepared on the going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. In reaching this conclusion, we have taken into account all relevant matters of which we are aware and have considered a period of at least one year from the date on which the financial statements were will be approved.

  2. We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.

  3. We confirm there were no specific representations made to you during the course of your independent examination.

  4. We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and expertise (and, where appropriate of supporting documentation) sufficient to satisfy ourselves that we can properly make these representations to you and that to the best of our knowledge and belief they accurately reflect the representations made to you by the trustees during the course of your independent examination.

Yours faithfully

Signed on behalf of the board of Trust Fund Committee by:

Peter Wyman Chair NHS Blood and Transplant

(Representative of the Corporate Trustee)

Date ……xxx…………………………………….. 12th January 2023